# EDGAR Filing Document

**Accession Number:** 0000756913
**File Stem:** 0001683863-23-001707
**Filing Date:** 2023-3
**Character Count:** 7681763
**Document Hash:** d651dbc89e0a709e932ab0d27935fdcf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683863-23-001707.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001683863-23-001707

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 114

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**EFFECTIVENESS DATE**: 20230302

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JOHN HANCOCK VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000756913
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04146
- **FILM NUMBER:** 23699047

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

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

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

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

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

## Series and Classes Contracts Data

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

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

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

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

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

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

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

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

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

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

### Capital Appreciation Trust (Series ID: S000008220)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-04146

--------

JOHN HANCOCK VARIABLE INSURANCE TRUST

---------------------------------------------------------

(Exact name of registrant as specified in charter)

200 BERKELEY STREET, BOSTON, MA 02116

-------------------------------------------------------------

(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE, 200 BERKELEY STREET, BOSTON, MA 02116

------------------------------------------------------------------------------------------

(Name and address of agent for service)

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

--------------

Date of fiscal year end: 12/31

------

Date of reporting period: 12/31/22

-------

------

ITEM 1. REPORTS TO STOCKHOLDERS.

The Registrant prepared the following annual reports to shareholders for the period ended December 31, 2022.

---

| | |
|:---|:---|
| **John Hancock Variable Insurance Trust** |  |
| 500 Index Trust | Science and Technology Trust |
| American Asset Allocation Trust | Small Cap Index Trust |
| American Global Growth Trust | Small Cap Opportunities Trust |
| American Growth Trust | Small Cap Stock Trust |
| American Growth - Income Trust | Small Cap Value Trust |
| American International Trust | Small Company Value Trust |
| Blue Chip Growth Trust | Strategic Equity Allocation Trust |
| Capital Appreciation Trust | Total Stock Market Index Trust |
| Capital Appreciation Value Trust |  |
| Disciplined Value International Trust | **John Hancock Variable Insurance Trust – Bond Trusts** |
| Emerging Markets Value Trust | Active Bond Trust |
| Equity Income Trust | Core Bond Trust |
| Financial Industries Trust | High Yield Trust |
| Fundamental All Cap Core Trust | Investment Quality Bond Trust |
| Fundamental Large Cap Value Trust | Money Market Trust |
| Global Equity Trust | Opportunistic Fixed Income Trust |
| Health Sciences Trust | Select Bond Trust |
| International Equity Index Trust | Short Term Government Income Trust |
| International Small Company Trust | Strategic Income Opportunities Trust |
| Lifestyle Balanced Portfolio | Total Bond Market Trust |
| Lifestyle Conservative Portfolio | Ultra Short Term Bond Trust |
| Lifestyle Growth Portfolio |  |
| Lifestyle Moderate Portfolio | **John Hancock Variable Insurance Trust – Managed Volatility Portfolios** |
| Mid Cap Growth Trust | Managed Volatility Balanced Portfolio |
| Mid Cap Index Trust | Managed Volatility Conservative Portfolio |
| Mid Value Trust | Managed Volatility Growth Portfolio |
| Real Estate Securities Trust | Managed Volatility Moderate Portfolio |

---

In addition, the December 31, 2022 annual report for American Funds Insurance Series, which includes master funds in which the Registrant's portfolios invest, is included herein.

------

![](imgd086bf041.gif)

![](img2cbed65c2.gif)

## JOHN HANCOCK

## Variable Insurance Trust
Annual report

December 31, 2022

------

## John Hancock Variable Insurance Trust

#### Annual report — Table of contents

------

---

| | |
|:---|:---|
| **[Manager's commentary and portfolio performance](#xx_0d985b1f-35be-43e7-98fe-29eb1759a999_1)[(See below for each portfolio's page #)](#xx_0d985b1f-35be-43e7-98fe-29eb1759a999_1)<br>**  | **3** |
| **[Shareholder expense example](#xx_2a4ff3a8-ad9d-4c7b-abb0-8bc6ad8bc8c7_1)<br>**  | **39** |
| **[Summary](#xx_a016c912-5667-4018-acbb-4f7292f2915c_1) [Portfolio of investments](#xx_a016c912-5667-4018-acbb-4f7292f2915c_1)[(See below for each portfolio's page #)](#xx_a016c912-5667-4018-acbb-4f7292f2915c_1)<br>**  | **44** |
| **[Statements of assets and liabilities](#xx_6424e252-eef5-4a1d-a03c-b9b4ea78ea6b_1)<br>**  | **79** |
| **[Statements of operations](#xx_6424e252-eef5-4a1d-a03c-b9b4ea78ea6b_10)<br>**  | **88** |
| **[Statements of changes in net assets](#xx_6424e252-eef5-4a1d-a03c-b9b4ea78ea6b_19)<br>**  | **97** |
| **[Financial highlights](#xx_45331aa7-3de7-4a56-944a-53591c7082c6_1)<br>**  | **103** |
| **[Notes to financial statements](#xx_f84ba190-3a99-413a-932f-30dddcf065e4_1)<br>**  | **120** |
| **[Report of independent registered public accounting firm](#xx_66662ece-fff8-4be3-aa60-b8761074e256_1)<br>**  | **164** |
| [Special shareholder meeting](#xx_f2bf2911-b96d-4e08-98ca-f29b37c9b6ea_1)<br>| **165** |
| **[Trustees and officers information](#xx_3854bea6-9761-49bb-8d45-34c57a1e9ad7_1)<br>**  | **166** |
| **[For more information](#xx_fd3cfb2e-f919-46f6-888b-2f9015c383e9_1)<br>**  | **169** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Summary Portfolio of investments** |
| [500 Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_1) | [500 Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_1) | 4 | 44 |
| [American Asset Allocation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_2) | [American Asset Allocation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_2) | 5 | 45 |
| [American Global Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_3) | [American Global Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_3) | 6 | 45 |
| [American Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_4) | [American Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_4) | 7 | 45 |
| [American Growth-Income Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_5) | [American Growth-Income Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_5) | 8 | 45 |
| [American International Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_6) | [American International Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_6) | 9 | 45 |
| [Blue Chip Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_7) | [Blue Chip Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_7) | 10 | 45 |
| [Capital Appreciation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_8) | [Capital Appreciation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_8) | 11 | 46 |
| [Capital Appreciation Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_9) | [Capital Appreciation Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_9) | 12 | 47 |
| [Disciplined Value International Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_10) | [Disciplined Value International Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_10) | 13 | 51 |
| [Emerging Markets Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_11) | [Emerging Markets Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_11) | 14 | 52 |
| [Equity Income Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_12) | [Equity Income Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_12) | 15 | 54 |
| [Financial Industries Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_13) | [Financial Industries Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_13) | 16 | 55 |
| [Fundamental All Cap Core Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_14) | [Fundamental All Cap Core Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_14) | 17 | 56 |
| [Fundamental Large Cap Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_15) | [Fundamental Large Cap Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_15) | 18 | 57 |
| [Global Equity Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_16) | [Global Equity Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_16) | 19 | 58 |
| [Health Sciences Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_17) | [Health Sciences Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_17) | 20 | 59 |
| [International Equity Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_18) | [International Equity Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_18) | 21 | 59 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Summary Portfolio of investments** |
| [International Small Company Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_19) | [International Small Company Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_19) | 22 | 61 |
| [Lifestyle Balanced Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_20) | [Lifestyle Balanced Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_20) | 23 | 63 |
| [Lifestyle Conservative Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_21) | [Lifestyle Conservative Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_21) | 24 | 63 |
| [Lifestyle Growth Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_22) | [Lifestyle Growth Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_22) | 25 | 64 |
| [Lifestyle Moderate Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_23) | [Lifestyle Moderate Portfolio](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_23) | 26 | 64 |
| [Mid Cap Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_24) | [Mid Cap Growth Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_24) | 27 | 64 |
| [Mid Cap Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_25) | [Mid Cap Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_25) | 28 | 65 |
| [Mid Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_26) | [Mid Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_26) | 29 | 66 |
| [Real Estate Securities Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_27) | [Real Estate Securities Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_27) | 30 | 67 |
| [Science & Technology Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_28) | [Science & Technology Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_28) | 31 | 68 |
| [Small Cap Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_29) | [Small Cap Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_29) | 32 | 69 |
| [Small Cap Opportunities Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_30) | [Small Cap Opportunities Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_30) | 33 | 70 |
| [Small Cap Stock Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_31) | [Small Cap Stock Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_31) | 34 | 71 |
| [Small Cap Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_32) | [Small Cap Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_32) | 35 | 72 |
| [Small Company Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_33) | [Small Company Value Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_33) | 36 | 73 |
| [Strategic Equity Allocation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_34) | [Strategic Equity Allocation Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_34) | 37 | 74 |
| [Total Stock Market Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_35) | [Total Stock Market Index Trust](#xx_d0f8977f-f0ef-4fc7-b249-3d0aa4ef6f03_35) | 38 | 76 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Manager's commentary and portfolio performance

------

#### Trust performance
In the following pages, we have set forth information regarding the performance of each portfolio of John Hancock Variable Insurance Trust (the trust). There are several ways to evaluate a portfolio's historical performance. One can look at the total percentage change in value, the average annual percentage change, or the growth of a hypothetical $10,000 investment. With respect to all performance information presented, it is important to understand that past performance does not guarantee future results. Return and principal fluctuate and shares, when redeemed, may be worth more or less than their original cost.

#### Performance tables
The performance tables show two types of total return information: cumulative and average annual total returns. A cumulative total return includes dividend reinvestments and is an expression of a portfolio's total change in share value in percentage terms over a set period of time—one, five, and ten years (or since the portfolio's inception if less than the applicable period). An average annual total return takes the portfolio's cumulative total return for a time period greater than one year and shows what the annual return would have been if the portfolio had performed at a constant rate each year. The tables show all cumulative and average annual total returns, net of fees and expenses of the portfolio, but do not reflect the insurance (separate account) expenses (including a possible contingent deferred sales charge) of the variable annuity and variable life products that invest in the portfolio. If these were included, performance would be lower.

#### Graph—change in value of $10,000 investment and comparative indexes
The performance graph for each portfolio shows the change in value of a $10,000 investment over the life or 10-year period

of each portfolio, whichever is shorter. Each portfolio's performance is compared with the performance of one or more broad-based security indexes as a benchmark. All performance information includes the reinvestment of dividends and capital gain distributions, as well as the deduction of ongoing management fees and portfolio operating expenses. The benchmarks used for comparison are unmanaged and include reinvestment of dividends and capital gains distributions, if any, but do not reflect any fees or expenses. Portfolios that invest in multiple asset classes are compared with a customized blended benchmark. This benchmark comprises a set percentage allocation from each of the asset classes in which the portfolio invests.

#### Portfolio managers' commentary
Finally, we have provided portfolio manager commentary regarding each portfolio's performance during the year ended December 31, 2022. The views expressed are those of the portfolio managers as of December 31, 2022, and are subject to change based on market and other conditions. Information about a portfolio's holdings, asset allocation, or country diversification is historical and is no indication of future portfolio composition, which may vary. Please note that the holdings discussed in each portfolio manager's commentary may not have been held by a portfolio for the entire period. Information provided in this report should not be considered a recommendation to purchase or sell securities. The portfolios are not insured by the Federal Deposit Insurance Corporation (FDIC), are not deposits or other obligations of, or guaranteed by, banks, and are subject to investment risks, including loss of principal amount invested. For a more detailed discussion of the risks associated with the portfolios, see the trust's prospectus.

#### Notes about risk
The portfolios may be subject to various risks as described in the portfolios' prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures,which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect portfolio performance. For more information, please refer to the "Principal risks" section of the prospectus.

Standard & Poor's, Standard & Poor's 500, S&P 500, and S&P MidCap 400 Index are trademarks of The McGraw-Hill Companies, Inc. Russell 1000, Russell 2000, Russell 3000, and Russell Midcap are trademarks of Frank Russell Company. Wilshire 5000 is a trademark of Wilshire Associates. MSCI Europe, Australasia, and the Far East, EAFE, and MSCI are trademarks of MSCI. Bloomberg is a registered trademark of Bloomberg LP. Lipper is a registered trademark of Reuters S.A. None of the portfolios are sponsored, endorsed, managed, advised, sold, or promoted by any of these companies, and none of these companies makes any representation regarding the advisability of investing in a portfolio.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## 500 Index Trust
Subadvisor: Manulife Investment Management (North America) Limited

Portfolio Managers: Boncana Maiga, CFA, CIM, Ashikhusein Shahpurwala, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to approximate the aggregate total return of a broad-based U.S. domestic equity market index by investing at least 80% of the trust's net assets (plus any borrowings for investment purposes) at the time of investment in (a) the common stocks that are included in the S&P 500 Index and (b) securities (which may or may not be included in the S&P 500 Index) that the Subadvisor believes as a group will behave in a manner similar to the S&P 500 Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgd20736d53.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 24.9 |
| Health care | 15.3 |
| Financials | 11.3 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;9.5 |
| Industrials | &nbsp;&nbsp;&nbsp;8.4 |
| Communication services | &nbsp;&nbsp;&nbsp;7.1 |
| Consumer staples | &nbsp;&nbsp;&nbsp;7.0 |
| Energy | &nbsp;&nbsp;&nbsp;5.1 |
| Utilities | &nbsp;&nbsp;&nbsp;3.1 |
| Materials | &nbsp;&nbsp;&nbsp;2.6 |
| Real estate | &nbsp;&nbsp;&nbsp;2.6 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.1 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, the 500 Index Trust Series I shares declined 18.37% and the S&P 500 Index declined 18.11%.
**Environment ► U.S. stock market indexes posted steep losses in 2022, marking their worst year since 2008. Inflation, which the U.S. Federal Reserve (Fed) initially thought would be transitory, remained stubbornly high as energy and food prices soared following Russia's invasion of Ukraine. To curb**

inflation, the Fed hiked its key overnight lending rate seven times in 2022 and curtailed its massive bond buying program. Higher rates triggered mounting fears that the U.S. economy was headed for recession, rattling investors. Added headwinds included rising inflation in many non-U.S. developed markets and a shift in China's restrictive COVID-19 policies that spurred concern over increased transmission of the virus and the potential spread of new variants.

Within the S&P 500 Index, most sectors declined, notably communication services, consumer discretionary, and information technology. Energy stocks, however, surged.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| 500 Index Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-18.37 | &nbsp;&nbsp;&nbsp;&nbsp;9.09 | &nbsp;&nbsp;&nbsp;&nbsp;12.23 | &nbsp;&nbsp;&nbsp;&nbsp;54.50 | &nbsp;&nbsp;&nbsp;&nbsp;216.93 |
| 500 Index Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-18.51 | &nbsp;&nbsp;&nbsp;&nbsp;8.87 | &nbsp;&nbsp;&nbsp;&nbsp;12.01 | &nbsp;&nbsp;&nbsp;&nbsp;52.98 | &nbsp;&nbsp;&nbsp;&nbsp;210.75 |
| 500 Index Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-18.31 | &nbsp;&nbsp;&nbsp;&nbsp;9.15 | &nbsp;&nbsp;&nbsp;&nbsp;12.28 | &nbsp;&nbsp;&nbsp;&nbsp;54.92 | &nbsp;&nbsp;&nbsp;&nbsp;218.44 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;0.49 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;0.25 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## American Asset Allocation Trust
Capital Research and Management Company<sup>SM</sup>, investment advisor for American Funds Insurance Series

Portfolio Managers: Alan N. Berro, David A. Daigle, Peter Eliot, Jeffrey T. Lager, Jin Lee, John R. Queen

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide high total return (including income and capital gains) consistent with preservation of capital over the long term. The trust invests all of its assets in Class 1 shares of its master fund, Asset Allocation Fund<sup>SM</sup>, a series of American Funds Insurance Series. The master fund invests in a diversified portfolio of common stocks and other equity securities, bonds, and other intermediate and long-term debt securities, and money market instruments (debt securities maturing in one year or less). In addition, the master fund may invest up to 25% of its debt assets in lower quality debt securities (rated Ba1 or below and BB+ or below by a nationally recognized statistical rating organization designated by the master fund's investment advisor or unrated but determined to be of equivalent quality by the master fund's investment advisor).**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img34a532384.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)\*** |  |
| Common stocks | 68.2 |
| Corporate bonds | 10.1 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;7.5 |
| U.S. Government and agency obligations | &nbsp;&nbsp;&nbsp;7.1 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;1.7 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.2 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;5.1 |
| \* The weightings represent the holdings of Asset Allocation Fund. For further details, please visit the American Funds website at americanfunds.com/afis. | \* The weightings represent the holdings of Asset Allocation Fund. For further details, please visit the American Funds website at americanfunds.com/afis. |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, American Asset Allocation Trust Series I shares declined 13.76% and a blend of 60% S&P 500 Index and 40% Bloomberg U.S. Aggregate Bond Index declined 15.79%.**

**Environment ► U.S. equities had their worst year since 2008, as persistently high inflation and aggressive interest-rate hikes stoked recession fears. The broad-based S&P 500 Index entered its first bear market since 2020. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.**

U.S. fixed-income markets fell across the board. The U.S. Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the yield curve, and ended the year inverted as shorter dated bonds sold off sharply.

The portfolio posted a loss but outperformed its blended benchmark. In the equity portfolio, investment selection within the consumer discretionary sector was the top contributor to relative returns on a sector basis. Results were buoyed by an out-of-benchmark holding in food services company Aramark and a higher-than-index position in Philip Morris International, Inc., which saw returns that significantly outpaced the market overall.

On the downside, stock selections within the energy and financials sectors weighed on relative returns.

Within energy, Exxon Mobil Corp., which the fund did not hold, weighed on relative results as its stock outpaced the broader market. An overweight holding in Charter Communications, Inc. was among the top individual detractors, as returns lagged the broader market.

The portfolio's fixed-income investments were additive to relative returns overall. Duration positioning within U.S. Treasuries and mortgage-backed securities contributed positively to results. Sector and security selections detracted. An out-of-benchmark position within U.S. Treasury Inflation-Protected Securities (TIPS) also weighed on returns.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| American Asset Allocation Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.76 | &nbsp;&nbsp;&nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.71 | &nbsp;&nbsp;&nbsp;&nbsp;27.27 | &nbsp;&nbsp;&nbsp;&nbsp;110.23 |
| American Asset Allocation Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.77 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.60 | &nbsp;&nbsp;&nbsp;&nbsp;26.72 | &nbsp;&nbsp;&nbsp;&nbsp;108.10 |
| American Asset Allocation Trust Series III | &nbsp;&nbsp;&nbsp;&nbsp;-13.44 | &nbsp;&nbsp;&nbsp;&nbsp;5.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.09 | &nbsp;&nbsp;&nbsp;&nbsp;29.43 | &nbsp;&nbsp;&nbsp;&nbsp;117.71 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.08 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.79 | &nbsp;&nbsp;&nbsp;&nbsp;5.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.08 | &nbsp;&nbsp;&nbsp;&nbsp;33.56 | &nbsp;&nbsp;&nbsp;&nbsp;117.59 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

The Blended Index is 60% S&P 500 Index and 40% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. The expense ratios reflect the combined fees of the portfolio and the master fund. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series III |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;0.58 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;0.57 |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## American Global Growth Trust
Capital Research and Management Company<sup>SM</sup>, investment advisor for American Funds Insurance Series

Portfolio Managers: Patrice Collette, Paul Flynn, Roz Hongsaranagon, Jonathan Knowles

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide long-term growth of capital. The trust invests all of its assets in Class 1 shares of its master fund, Global Growth Fund<sup>SM</sup>, a series of American Funds Insurance Series. Global Growth Fund invests primarily in common stocks of companies located around the world that the advisor believes have potential for growth. As a fund that seeks to invest globally, Global Growth Fund will allocate its assets among securities of companies domiciled in various countries, including the United States and countries with emerging markets (but in no fewer than three countries). Under normal market conditions, Global Growth Fund seeks to invest significantly in issuers domiciled outside the United States (i.e., at least 40% of its net assets, unless market conditions are not deemed favorable by its investment advisor, in which case the fund would invest at least 30% of its net assets in issuers outside the United States). Although the master fund focuses on investments in medium to larger capitalization companies, the master fund's investments are not limited to a particular capitalization size.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img5206b4fb5.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)\*** |  |
| Health care | 23.2 |
| Information technology | 22.9 |
| Consumer discretionary | 13.9 |
| Financials | &nbsp;&nbsp;&nbsp;8.9 |
| Consumer staples | &nbsp;&nbsp;&nbsp;8.6 |
| Industrials | &nbsp;&nbsp;&nbsp;7.6 |
| Energy | &nbsp;&nbsp;&nbsp;4.8 |
| Materials | &nbsp;&nbsp;&nbsp;3.3 |
| Communication services | &nbsp;&nbsp;&nbsp;2.7 |
| Real estate | &nbsp;&nbsp;&nbsp;0.2 |
| Utilities | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.8 |
| \* The weightings represent the holdings of Global Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis. | \* The weightings represent the holdings of Global Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis. |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, American Global Growth Trust Series I shares declined 25.05% and the MSCI ACWI declined 18.36%.
**Environment ► Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The conflict in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all**

but one sector declined in the MSCI ACWI. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

The portfolio posted a loss and underperformed its benchmark. Stock selection within the information technology sector weighed on results. Netherlands-based payments firm Adyen NV was among the top individual detractors, with returns that lagged the broader market in a weak sector overall. Not holding energy giant Exxon Mobil Corp. was an additional detractor, as the company generated a positive return.

Stock selection in the consumer discretionary sector was the top contributor to relative returns. An underweight in Telsa, Inc. and an overweight position in healthcare firm Cigna Corp. were among the top individual contributors to the portfolio.

On a geographic basis, stock selection in certain European countries outside of the Eurozone contributed to results, while stock selection in the U.S. and the Eurozone detracted.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| American Global Growth Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-25.05 | &nbsp;&nbsp;&nbsp;&nbsp;6.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.74 | &nbsp;&nbsp;&nbsp;&nbsp;37.95 | &nbsp;&nbsp;&nbsp;&nbsp;153.28 |
| American Global Growth Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-25.08 | &nbsp;&nbsp;&nbsp;&nbsp;6.57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63 | &nbsp;&nbsp;&nbsp;&nbsp;37.44 | &nbsp;&nbsp;&nbsp;&nbsp;150.83 |
| American Global Growth Trust Series III | &nbsp;&nbsp;&nbsp;&nbsp;-24.77 | &nbsp;&nbsp;&nbsp;&nbsp;7.03 | &nbsp;&nbsp;&nbsp;&nbsp;10.13 | &nbsp;&nbsp;&nbsp;&nbsp;40.45 | &nbsp;&nbsp;&nbsp;&nbsp;162.44 |
| MSCI ACWI | &nbsp;&nbsp;&nbsp;&nbsp;-18.36 | &nbsp;&nbsp;&nbsp;&nbsp;5.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.98 | &nbsp;&nbsp;&nbsp;&nbsp;29.01 | &nbsp;&nbsp;&nbsp;&nbsp;115.45 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI All Country World Index (ACWI) tracks the performance of publicly traded large- and mid-cap stocks of companies in both developed and emerging markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until May 1, 2023 and are subject to change. The expense ratios reflect the combined fees of the portfolio and the master fund. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series III |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;0.82 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;0.70 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## American Growth Trust
Capital Research and Management Company<sup>SM</sup>, investment advisor for American Funds Insurance Series

Portfolio Managers: Paul Benjamin, Mark L. Casey, Irfan M. Furniturewala, Anne-Marie Peterson, Andraz Razen, Alan J. Wilson

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide growth of capital. The trust invests all of its assets in Class 1 shares of its master fund, Growth Fund<sup>SM</sup>, a series of American Funds Insurance Series. Growth Fund invests primarily in common stocks and seeks to invest in companies that appear to offer superior opportunities for growth of capital. Growth Fund may also invest up to 25% of its assets in common stocks and other securities of issuers domiciled outside the U.S.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img649769d66.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)\*** |  |
| Information technology | 20.2 |
| Health care | 17.3 |
| Consumer discretionary | 16.9 |
| Communication services | 12.9 |
| Industrials | 10.9 |
| Energy | &nbsp;&nbsp;&nbsp;5.9 |
| Financials | &nbsp;&nbsp;&nbsp;5.8 |
| Materials | &nbsp;&nbsp;&nbsp;3.2 |
| Consumer staples | &nbsp;&nbsp;&nbsp;2.3 |
| Utilities | &nbsp;&nbsp;&nbsp;0.8 |
| Real estate | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.7 |
| \* The weightings represent the holdings of Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis. | \* The weightings represent the holdings of Growth Fund. For further details, please visit the American Funds website at americanfunds.com/afis. |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, American Growth Trust Series I shares declined 30.20% and the S&P 500 Index declined 18.11%.
**Environment ► U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. The S&P 500 Index entered its first bear market since 2020. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the**

last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

The portfolio posted a loss and underperformed its benchmark. An overweight position and security selection in the communication services sector as well as stock selection within the information technology sector weighed on results. Overweight positions in electric car manufacturer Tesla, Inc., social media giant Meta Platforms, Inc., and streaming service provider Netflix, Inc. were the top individual detractors to returns.

Stock selection within the materials sector and an underweight in the information technology sector were the top contributors to relative returns. Overweight positions in energy industry firm Halliburton Company and Regeneron Pharmaceuticals, Inc. buoyed results. An underweight in Amazon.com, Inc. also boosted returns.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| American Growth Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-30.20 | &nbsp;&nbsp;&nbsp;&nbsp;10.72 | &nbsp;&nbsp;&nbsp;&nbsp;13.22 | &nbsp;&nbsp;&nbsp;&nbsp;66.41 | &nbsp;&nbsp;&nbsp;&nbsp;246.21 |
| American Growth Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-30.25 | &nbsp;&nbsp;&nbsp;&nbsp;10.66 | &nbsp;&nbsp;&nbsp;&nbsp;13.13 | &nbsp;&nbsp;&nbsp;&nbsp;65.91 | &nbsp;&nbsp;&nbsp;&nbsp;243.51 |
| American Growth Trust Series III | &nbsp;&nbsp;&nbsp;&nbsp;-29.95 | &nbsp;&nbsp;&nbsp;&nbsp;11.12 | &nbsp;&nbsp;&nbsp;&nbsp;13.62 | &nbsp;&nbsp;&nbsp;&nbsp;69.42 | &nbsp;&nbsp;&nbsp;&nbsp;258.58 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. The expense ratios reflect the combined fees of the portfolio and the master fund. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series III |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;0.63 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;0.62 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## American Growth-Income Trust
Capital Research and Management Company<sup>SM</sup>, investment advisor for American Funds Insurance Series

Portfolio Managers: Charles E. Ellwein, J. Blair Frank, Keiko McKibben, Donald D. O'Neal, William L. Robbins, Carlos A. Schonfeld

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide long-term growth of capital and income. The trust invests all of its assets in Class 1 shares of its master fund, Growth-Income Fund<sup>SM</sup>, a series of American Funds Insurance Series. Growth-Income Fund invests primarily in common stocks or other securities that Growth-Income Fund's investment advisor believes demonstrate the potential for appreciation and/or dividends. Although Growth-Income Fund focuses on investments in medium to larger capitalization companies, its investments are not limited to a particular capitalization size. Growth-Income Fund may invest up to 15% of its assets, at the time of purchase, in securities of issuers domiciled outside the U.S. Growth-Income Fund is designed for investors seeking both capital appreciation and income.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img618c9ace7.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)\*** |  |
| Information technology | 20.2 |
| Industrials | 14.2 |
| Health care | 13.8 |
| Financials | &nbsp;&nbsp;&nbsp;8.9 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;8.0 |
| Communication services | &nbsp;&nbsp;&nbsp;7.5 |
| Consumer staples | &nbsp;&nbsp;&nbsp;5.8 |
| Energy | &nbsp;&nbsp;&nbsp;4.8 |
| Utilities | &nbsp;&nbsp;&nbsp;4.1 |
| Materials | &nbsp;&nbsp;&nbsp;3.2 |
| Real estate | &nbsp;&nbsp;&nbsp;1.8 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;7.7 |
| \* The weightings represent the holdings of Growth-Income Fund. For further details, please visit the American Funds website at americanfunds.com/afis. | \* The weightings represent the holdings of Growth-Income Fund. For further details, please visit the American Funds website at americanfunds.com/afis. |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, American Growth-Income Trust Series I shares declined 16.78% and the S&P 500 Index declined 18.11%.
**Environment ► U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. The S&P 500 entered its first bear market since 2020. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants**

that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

The portfolio declined for the period but outperformed its benchmark. Investments within the information technology and industrials sectors were top contributors to the fund's relative returns. Not owning electric car firm Tesla, Inc. and underweights in NVIDIA Corp. and Apple, Inc. aided results. An out-of-benchmark position in energy company

Canadian Natural Resources was a top individual contributor, as the stock outpaced the market overall.

On the downside, security selections within the communication services, energy and financials sectors dragged on portfolio returns. Netflix, Inc. was the fund's top individual detractor owing to an overweight position and returns that lagged the market overall. An underweight position in Exxon Mobil Corp. and not owning pharmaceutical giant Merck & Company, Inc. also detracted from results.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| American Growth-Income Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-16.78 | &nbsp;&nbsp;&nbsp;&nbsp;7.43 | &nbsp;&nbsp;&nbsp;&nbsp;11.14 | &nbsp;&nbsp;&nbsp;&nbsp;43.07 | &nbsp;&nbsp;&nbsp;&nbsp;187.64 |
| American Growth-Income Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-16.84 | &nbsp;&nbsp;&nbsp;&nbsp;7.35 | &nbsp;&nbsp;&nbsp;&nbsp;11.04 | &nbsp;&nbsp;&nbsp;&nbsp;42.56 | &nbsp;&nbsp;&nbsp;&nbsp;185.01 |
| American Growth-Income Trust Series III | &nbsp;&nbsp;&nbsp;&nbsp;-16.56 | &nbsp;&nbsp;&nbsp;&nbsp;7.80 | &nbsp;&nbsp;&nbsp;&nbsp;11.53 | &nbsp;&nbsp;&nbsp;&nbsp;45.59 | &nbsp;&nbsp;&nbsp;&nbsp;197.84 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. The expense ratios reflect the combined fees of the portfolio and the master fund. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series III |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;0.57 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;0.56 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## American International Trust
Capital Research and Management Company<sup>SM</sup>, investment advisor for American Funds Insurance Series

Portfolio Managers: Nicholas J. Grace, Sung Lee, Renaud H. Samyn, Christopher M. Thomsen

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide long-term growth of capital. The trust invests all of its assets in Class 1 shares of its master fund, International Fund<sup>SM</sup>, a series of American Funds Insurance Series. International Fund invests primarily in common stocks of companies located outside the United States, including in companies domiciled in emerging markets, that its advisor believes have the potential for growth.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img5859d31e8.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)\*** |  |
| Industrials | 16.6 |
| Information technology | 13.8 |
| Health care | 12.9 |
| Energy | 10.7 |
| Materials | 10.6 |
| Financials | &nbsp;&nbsp;&nbsp;9.2 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;9.2 |
| Communication services | &nbsp;&nbsp;&nbsp;6.2 |
| Consumer staples | &nbsp;&nbsp;&nbsp;4.3 |
| Utilities | &nbsp;&nbsp;&nbsp;1.8 |
| Real estate | &nbsp;&nbsp;&nbsp;0.6 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;4.1 |
| \* The weightings represent the holdings of International Fund. For further details, please visit the American Funds website at americanfunds.com/afis. | \* The weightings represent the holdings of International Fund. For further details, please visit the American Funds website at americanfunds.com/afis. |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, American International Trust Series I shares declined 21.11% and the MSCI ACWI ex USA Index declined 16.00%.
**Environment ► Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The Russian invasion of Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI ACWI ex USA Index. Late in the year, signs that**

inflation may have peaked in the United States, Europe, and elsewhere sparked a rally that erased some of the losses.

The portfolio posted a negative return and underperformed its benchmark. Stock selection within the information technology sector dragged on returns. Overweights in Singapore tech conglomerate Sea Ltd., Japanese human resources firm Recruit Holdings Company, Ltd. and South Korean chipmaker SK Hynix, Inc. were among the top individual detractors.

Stock selection and an overweight within the energy sector boosted relative returns. Within individual securities, overweights in Japanese pharmaceutical firm Daiichi Sankyo Company, Ltd, Brazilian energy company Petroleo Brasileiro SA, and Brazilian metal and mining outfit Vale S.A. were key contributors.

On a geographic basis, stock selection in the U.S. and Asia Pacific, including Japan, detracted, while selection in emerging markets contributed to relative performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| American International Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-21.11 | &nbsp;&nbsp;&nbsp;&nbsp;-1.40 | &nbsp;&nbsp;&nbsp;&nbsp;3.53 | &nbsp;&nbsp;&nbsp;&nbsp;-6.83 | &nbsp;&nbsp;&nbsp;&nbsp;41.46 |
| American International Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-21.16 | &nbsp;&nbsp;&nbsp;&nbsp;-1.53 | &nbsp;&nbsp;&nbsp;&nbsp;3.39 | &nbsp;&nbsp;&nbsp;&nbsp;-7.40 | &nbsp;&nbsp;&nbsp;&nbsp;39.60 |
| American International Trust Series III | &nbsp;&nbsp;&nbsp;&nbsp;-20.80 | &nbsp;&nbsp;&nbsp;&nbsp;-1.05 | &nbsp;&nbsp;&nbsp;&nbsp;3.89 | &nbsp;&nbsp;&nbsp;&nbsp;-5.16 | &nbsp;&nbsp;&nbsp;&nbsp;46.50 |
| MSCI ACWI ex USA Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.49 | &nbsp;&nbsp;&nbsp;&nbsp;45.20 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI All Country World (ACWI) ex USA Index tracks the performance of publicly traded large- and mid-cap stocks of companies in both developed markets and emerging markets, excluding the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. The expense ratios reflect the combined fees of the portfolio and the master fund. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series III |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;0.82 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;0.81 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Blue Chip Growth Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: Paul Greene II

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide long-term growth of capital with current income as a second objective. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks of large and medium-sized blue chip growth companies that, in the subadvisor's view, are well established in their industries and have the potential for above-average earnings growth.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](imgabc4b5c69.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 47.6 |
| Health care | 16.7 |
| Consumer discretionary | 14.7 |
| Communication services | 12.9 |
| Financials | &nbsp;&nbsp;&nbsp;5.2 |
| Materials | &nbsp;&nbsp;&nbsp;1.3 |
| Industrials | &nbsp;&nbsp;&nbsp;1.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.5 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Blue Chip Growth Trust Series I shares declined 38.09% and the S&P 500 Index declined 18.11%.
**Environment ► Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, tightening financial conditions, and slowing economic and corporate earnings growth. The U.S. Federal Reserve's (Fed's) aggressive short-term interest rate hikes that began in March, as well as comments that it would be willing to risk**

causing a recession by raising rates and keeping them at a higher level in order to bring inflation down, also weighed on the market.

The portfolio posted a negative return and underperformed its benchmark. Communication services sector was a significant detractor from relative results, driven primarily by security choices and an overweight allocation. Shares of Meta Platforms, Inc. sold off sharply due to a combination of headwinds from a number of issues, including Apple iOS privacy changes and a significant drop in advertising demand. Stock selection and an overweight allocation in the information technology sector also hindered relative returns.

Security selection and an overweight exposure in the consumer discretionary sector further weighed on relative performance. Shares of Amazon.com, Inc. traded lower in response to deceleration within both e-commerce and Amazon Web Services as consumer confidence and enterprise cloud spend softened due to macro concerns.

In contrast, real estate modestly contributed due to an underweight allocation, which was partially offset by stock selection. We remain underweight to real estate, given the lack of attractive opportunities with long-term growth prospects.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Blue Chip Growth Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-38.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16 | &nbsp;&nbsp;&nbsp;&nbsp;11.70 | &nbsp;&nbsp;&nbsp;&nbsp;28.62 | &nbsp;&nbsp;&nbsp;&nbsp;202.39 |
| Blue Chip Growth Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-38.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.96 | &nbsp;&nbsp;&nbsp;&nbsp;11.48 | &nbsp;&nbsp;&nbsp;&nbsp;27.38 | &nbsp;&nbsp;&nbsp;&nbsp;196.44 |
| Blue Chip Growth Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-38.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22 | &nbsp;&nbsp;&nbsp;&nbsp;11.76 | &nbsp;&nbsp;&nbsp;&nbsp;28.96 | &nbsp;&nbsp;&nbsp;&nbsp;203.96 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Russell 1000 Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-29.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;14.10 | &nbsp;&nbsp;&nbsp;&nbsp;68.21 | &nbsp;&nbsp;&nbsp;&nbsp;273.97 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Russell 1000 Growth Index tracks the performance of publicly traded large-cap companies in the United States with higher price-to-book ratios and higher forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;0.77 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;0.76 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Capital Appreciation Trust
Subadvisor: Jennison Associates LLC

Portfolio Managers: Blair A. Boyer, Michael A. Del Balso, Rebecca Irwin, Natasha Kuhlkin, CFA, Kathleen A. McCarragher. Effective January 4, 2023, Spiros "Sig" Segalas no longer served as a portfolio manager for the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital by investing at least 65% of the trust's total assets in equity and equity-related securities of companies, at the time of investment, that exceed $1 billion in market capitalization and that the subadvisor believes to have above-average growth prospects.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img3a2ec75410.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 34.8 |
| Consumer discretionary | 24.8 |
| Health care | 15.2 |
| Communication services | 10.8 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.7 |
| Financials | &nbsp;&nbsp;&nbsp;3.6 |
| Industrials | &nbsp;&nbsp;&nbsp;2.4 |
| Energy | &nbsp;&nbsp;&nbsp;2.3 |
| Real estate | &nbsp;&nbsp;&nbsp;1.7 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.7 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Capital Appreciation Trust Series I shares declined 37.70% and the Russell 1000 Growth Index declined 29.14%.
**Environment ► Over the past year, the investment backdrop shifted from one of stimulus to one of high inflation and tightening financial conditions. U.S. equity markets began the period near all-time highs, but surprisingly high inflation spurred the U.S. Federal Reserve to embark on a tightening path that led to a spike in U.S. Treasury yields and a repricing of risk, which weighed heavily on higher-valuation, higher-growth stocks. These pressures persisted throughout the year, exacerbated by the Russian invasion of Ukraine and COVID-19 lockdowns in China, leading to widespread concerns around global growth.**

The portfolio's underperformance of its benchmark in large part reflects the higher expected growth and higher valuation of its holdings. These valuations proved to be particularly vulnerable to the significant derating that occurred, as interest rates moved sharply higher. Recognizing the changes in discount rates and risk tolerance, we made adjustments to the portfolio early in, and throughout, the period by reducing or eliminating positions in companies with minimal free cash flows and very high valuations. We also reduced or eliminated companies that benefited disproportionately from pandemic demand as well as social media companies facing revenue pressures related to changes in privacy standards.

Portfolio underperformance was also driven by select out of benchmark positions with disappointing fundamentals. Two names with outsized impact were Shopify, Inc. and Snap, Inc. E-commerce leader Shopify suffered a meaningful deceleration after the

economy reopened. We reduced and ultimately exited the stock, as it became clear that the need for reinvestment into sales, technology, and physical fulfillment networks would be more significant for longer than we had envisioned. In the case of Snap, social media stocks reported disappointing results in 2022, and the position in Snap detracted from performance. We also exited the stock, expecting resolution of these challenges to take some time.

On the positive side, healthcare holdings Eli Lilly and Company and Novo Nordisk A/S (out of benchmark), luxury consumer holdings company LVMH Moet Hennessy Louis Vuitton SE (out of benchmark), and energy firm Schlumberger, Ltd. (out of benchmark) helped the portfolio's relative returns. Adding exposure to healthcare stocks with strong fundamentals and positive multiyear catalysts was an important change in the portfolio over the course of the year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Capital Appreciation Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-37.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.21 | &nbsp;&nbsp;&nbsp;&nbsp;12.90 | &nbsp;&nbsp;&nbsp;&nbsp;48.34 | &nbsp;&nbsp;&nbsp;&nbsp;236.45 |
| Capital Appreciation Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-37.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.99 | &nbsp;&nbsp;&nbsp;&nbsp;12.67 | &nbsp;&nbsp;&nbsp;&nbsp;46.89 | &nbsp;&nbsp;&nbsp;&nbsp;229.59 |
| Capital Appreciation Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-37.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.29 | &nbsp;&nbsp;&nbsp;&nbsp;12.97 | &nbsp;&nbsp;&nbsp;&nbsp;48.94 | &nbsp;&nbsp;&nbsp;&nbsp;238.45 |
| Russell 1000 Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-29.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;14.10 | &nbsp;&nbsp;&nbsp;&nbsp;68.21 | &nbsp;&nbsp;&nbsp;&nbsp;273.97 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 1000 Growth Index tracks the performance of publicly traded large-cap companies in the United States with higher price-to-book ratios and higher forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;0.74 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;0.73 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Capital Appreciation Value Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: David R. Giroux, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing primarily in common stocks of established U.S. companies that have above-average potential for capital growth. Common stocks typically constitute at least 50% of the trust's total assets. The remaining assets are generally invested in other securities, including convertible securities, corporate and government debt, bank loans, foreign securities, futures, and options. The trust may invest up to 20% of its total assets in foreign securities.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img8cbd30b611.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Common stocks | 62.0 |
| Term loans | 12.6 |
| U.S. Government | &nbsp;&nbsp;&nbsp;9.4 |
| Corporate bonds | &nbsp;&nbsp;&nbsp;6.7 |
| Preferred securities | &nbsp;&nbsp;&nbsp;0.4 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;0.3 |
| Convertible bonds | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;8.5 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Capital Appreciation Value Trust Series I shares declined 11.86% and the S&P 500 Index declined 18.11%.
**Environment ► U.S. stocks fell sharply in 2022, with major indexes posting their worst year since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, and the U.S. Federal Reserve's (Fed's) short-term interest rate increases starting in mid-March. Although many indexes finished the year above their lowest levels of 2022, the year ended with many investors concerned that ongoing Fed rate hikes would hurt corporate earnings and push the economy into a recession in 2023.**

The portfolio's overall fixed income weight increased compared with the beginning of the year. Its largest exposure remains in term loans, which we think at current levels offer attractive risk-adjusted return profiles. We also like that bank loans are at the top of

the capital structure and benefit from rising interest rates. The fixed income component of the portfolio contributed to the portfolio's performance.

The portfolio posted a negative return but outperformed its benchmark. The energy sector detracted from relative performance due to an underweight allocation. Energy was by far the best-performing sector during the year. The sector surged with oil and natural gas prices in the early part of the year and benefited late in the period from progress in the post-pandemic economic reopening of China. The healthcare sector also hurt relative results due to weak stock selection, which was partially offset by an overweight allocation. Shares of diagnostic and life sciences equipment maker PerkinElmer, Inc. underperformed as investors appeared to cool on the life sciences and tools industry after a period of strong returns driven by the demand for equipment needed to test for COVID-19. Additionally, markets had a negative initial reaction to the company's announced planned divesture of a large business segment focused on applied science in biopharmaceuticals and food and environmental safety.

Conversely, the consumer discretionary sector boosted relative returns due to strong stock selection. Shares of Yum! Brands, Inc.—parent company of Taco Bell, KFC, and Pizza Hut—declined but outperformed sector peers. Despite some pressure on international sales due to pandemic-related lockdowns in China and suspended operations in Russia, the company posted strong same-store sales in other regions, as well as better-than-expected new unit growth. The information technology sector also contributed to relative returns due to stock selection and a moderate overweight allocation. NXP Semiconductors NV is a Netherlands-based diversified, mixed-signal semiconductor manufacturer and the largest supplier of chips to the automotive industry. We initiated a position late in the first quarter and since then shares have outperformed sector peers driven by solid growth in its core automotive division. An overweight allocation and stock selection in the utilities sector also aided relative returns.

The portfolio's covered call strategy detracted from performance on an absolute basis but modestly contributed overall.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Capital Appreciation Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-11.86 | &nbsp;&nbsp;&nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;&nbsp;10.62 | &nbsp;&nbsp;&nbsp;&nbsp;52.54 | &nbsp;&nbsp;&nbsp;&nbsp;174.46 |
| Capital Appreciation Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-12.07 | &nbsp;&nbsp;&nbsp;&nbsp;8.57 | &nbsp;&nbsp;&nbsp;&nbsp;10.39 | &nbsp;&nbsp;&nbsp;&nbsp;50.86 | &nbsp;&nbsp;&nbsp;&nbsp;168.62 |
| Capital Appreciation Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-11.87 | &nbsp;&nbsp;&nbsp;&nbsp;8.85 | &nbsp;&nbsp;&nbsp;&nbsp;10.66 | &nbsp;&nbsp;&nbsp;&nbsp;52.83 | &nbsp;&nbsp;&nbsp;&nbsp;175.44 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.79 | &nbsp;&nbsp;&nbsp;&nbsp;5.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.08 | &nbsp;&nbsp;&nbsp;&nbsp;33.56 | &nbsp;&nbsp;&nbsp;&nbsp;117.59 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Blended Index is 60% S&P 500 Index and 40% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;0.88 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;0.87 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Disciplined Value International Trust
Subadvisor: Boston Partners Global Investors, Inc.

Portfolio Managers: Joseph F. Feeney, Jr., CFA, Christopher K. Hart, CFA, Joshua M. Jones, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of equity and equity-related securities issued by non-U.S. companies of any capitalization size.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgb16e2bad12.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Industrials | 19.6 |
| Financials | 18.6 |
| Consumer discretionary | 10.5 |
| Materials | 10.1 |
| Energy | 10.1 |
| Health care | &nbsp;&nbsp;&nbsp;9.7 |
| Communication services | &nbsp;&nbsp;&nbsp;7.1 |
| Information technology | &nbsp;&nbsp;&nbsp;5.0 |
| Consumer staples | &nbsp;&nbsp;&nbsp;4.6 |
| Utilities | &nbsp;&nbsp;&nbsp;1.2 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.5 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Disciplined Value International Trust Series I shares declined 4.77% and the MSCI EAFE Index declined 14.45%.
**Environment ► International equity markets, as represented by the portfolio's benchmark, the MSCI EAFE Index, declined through the third quarter of 2022 before partly rebounding during the fourth quarter. The selloff during the first three quarters was precipitated by Russia's invasion of Ukraine, inflation, concerns about a global recession, and a strengthening U.S. dollar. Investor sentiment markedly improved during the fourth quarter on signs that U.S. inflation had peaked and hopes that the U.S. Federal Reserve could pivot to a market friendly stance.**

Stock selection and sector allocation both contributed positively. Stock selection led the relative strength in the industrials, financials, and materials sectors. In the industrials sector, aerospace and defense stocks Rheinmetall AG and BAE Systems PLC benefited from Russia's invasion of Ukraine. The Rheinmetall position was reduced in March and proceeds added to BAE. In the financials sector, Everest RE (out of benchmark) was a top contributor, and Sampo OYJ benefitted from the sale of noncore assets. Capital markets holding UBS Group AG contributed as it has seen significant inflows into its Asia-Pacific wealth management division over the past several months from clients fleeing Credit Suisse Group AG. In the materials sector, mining companies Glencore PLC and Yamana Gold, Inc (out of benchmark) outperformed. Glencore saw

exceptionally strong free cash flow generation from the coal business and Yamana benefited from the announced acquisition by Gold Fields Ltd.

Conversely, stock selection detracted in the consumer discretionary sector, where Persimmon PLC traded lower on recession and inflation worries. Auto holdings Subaru Corp., Stellantis NV, and Volkswagen AG also detracted. Despite recession concerns, we believe autos can continue to produce into a recession and earnings should hold up reasonably well because of record low inventory levels. Persimmon and Volkswagen were sold during the period. Sector allocation contributed positively due to an overweight positioning in the energy sector and underweight positioning in the information technology sector.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Disciplined Value International Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;3.57 | &nbsp;&nbsp;&nbsp;&nbsp;6.13 | &nbsp;&nbsp;&nbsp;&nbsp;41.98 |
| Disciplined Value International Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;3.37 | &nbsp;&nbsp;&nbsp;&nbsp;5.14 | &nbsp;&nbsp;&nbsp;&nbsp;39.24 |
| Disciplined Value International Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;6.39 | &nbsp;&nbsp;&nbsp;&nbsp;42.67 |
| MSCI EAFE Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;4.67 | &nbsp;&nbsp;&nbsp;&nbsp;7.95 | &nbsp;&nbsp;&nbsp;&nbsp;57.87 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI Europe, Australasia, and Far East (EAFE) Index tracks the performance of publicly traded large- and mid-cap stocks of companies in those regions.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;0.88 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;0.87 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Emerging Markets Value Trust
Subadvisor: Dimensional Fund Advisors LP

Portfolio Managers: Jed S. Fogdall, Allen Pu, CFA, PhD, Ethan Wren, CFA. Effective January 1, 2023, Bhanu P. Singh no longer served as a portfolio manager for the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of its net assets (plus any borrowings for investment purposes) in companies associated with emerging markets designated from time to time by the Subadvisor.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgb420932413.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 30.3 |
| Materials | 14.9 |
| Information technology | 11.4 |
| Energy | &nbsp;&nbsp;&nbsp;9.6 |
| Industrials | &nbsp;&nbsp;&nbsp;9.5 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;8.4 |
| Real estate | &nbsp;&nbsp;&nbsp;4.5 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.2 |
| Communication services | &nbsp;&nbsp;&nbsp;2.9 |
| Health care | &nbsp;&nbsp;&nbsp;2.5 |
| Utilities | &nbsp;&nbsp;&nbsp;1.6 |
| Other assets and liabilities, net | &nbsp;&nbsp;&nbsp;1.2 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Emerging Markets Value Trust Series I shares declined 11.67% and the MSCI Emerging Markets Index declined 20.09%.
**Environment ► In U.S. dollar terms, emerging markets had negative performance for the one-year period, trailing both the U.S. and developed ex-U.S. markets. Most major emerging-market currencies, such as Turkish lira, depreciated relative to the U.S. dollar. Overall, currency movements had a negative impact on the U.S. dollar-denominated returns of emerging markets.**

Along the market capitalization dimension, small caps (MSCI Emerging Markets Small Cap Index) outperformed large caps (MSCI Emerging Markets Index). Midcaps (MSCI Emerging Markets Mid Cap Index), a subset of the MSCI Emerging Markets Index universe, outperformed both small and large caps. Along the relative price dimension, large-cap value stocks (MSCI Emerging Markets Value Index) outperformed large-cap growth stocks (MSCI Emerging Markets Growth Index) and small-cap value stocks (MSCI Emerging Markets Small Cap Value Index) outperformed small-cap growth stocks (MSCI Emerging Markets Small Cap Growth Index).

The portfolio's focus on value stocks contributed positively to relative performance. At the country level, the portfolio's lesser allocation to Russia contributed positively to relative performance, as Russia underperformed the overall index for the period.

At the sector level, the portfolio's underweight to the information technology sector, due to the focus on value stocks, contributed positively to relative performance as information technology sector underperformed the overall index.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Emerging Markets Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-11.67 | &nbsp;&nbsp;&nbsp;&nbsp;-0.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;-2.52 | &nbsp;&nbsp;&nbsp;&nbsp;12.97 |
| Emerging Markets Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-11.87 | &nbsp;&nbsp;&nbsp;&nbsp;-0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;-3.43 | &nbsp;&nbsp;&nbsp;&nbsp;11.58 |
| Emerging Markets Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-11.63 | &nbsp;&nbsp;&nbsp;&nbsp;-0.44 | &nbsp;&nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;&nbsp;&nbsp;-2.17 | &nbsp;&nbsp;&nbsp;&nbsp;13.69 |
| MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp;&nbsp;-20.09 | &nbsp;&nbsp;&nbsp;&nbsp;-1.40 | &nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;-6.79 | &nbsp;&nbsp;&nbsp;&nbsp;15.33 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Series II shares were first offered on May 27, 2015. The performance shown links the performance of Series NAV shares, which have lower expenses than Series II shares. Had the performance prior to May 27, 2015 reflected Series II expenses, performance would be lower.

The MSCI Emerging Markets (EM) Index tracks the performance of publicly traded large- and mid-cap emerging-market stocks.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;0.99 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;0.98 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Equity Income Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: John D. Linehan, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide substantial dividend income and also long-term growth of capital. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, with at least 65% in common stocks of well-established companies paying above-average dividends.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](imge259f0a614.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 21.0 |
| Health care | 17.7 |
| Industrials | 10.8 |
| Energy | &nbsp;&nbsp;&nbsp;8.6 |
| Utilities | &nbsp;&nbsp;&nbsp;8.3 |
| Consumer staples | &nbsp;&nbsp;&nbsp;7.0 |
| Information technology | &nbsp;&nbsp;&nbsp;6.9 |
| Communication services | &nbsp;&nbsp;&nbsp;5.1 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;5.0 |
| Materials | &nbsp;&nbsp;&nbsp;4.3 |
| Real estate | &nbsp;&nbsp;&nbsp;4.0 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;1.3 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Equity Income Trust Series I shares declined 3.40% and the Russell 1000 Value Index declined 7.54%.
**Environment ► Growth stocks significantly underperformed value stocks across all market capitalizations. Within the Russell 1000 Value Index, most sectors posted negative returns. Information technology, communication services, real estate, and consumer discretionary posted the weakest returns.**

The portfolio posted a loss but outperformed its benchmark. The financials sector was a significant relative contributor for the period, due to strong stock selection. American International Group, Inc. outperformed the financials sector. The company's life and retirement business line, which was spun off

in September 2022, had a mixed impact on the stock as capital markets pressure impacted earnings and a declining investment portfolio impacted book value.

The healthcare sector also aided relative returns owing to positive stock choices. Shares of AbbVie, Inc. (out of benchmark) outperformed the healthcare sector over the year-to-date period. Shares advanced in April after the FDA approved Rinvoq and Skyrizi for use, which may help balance sales deficits from Humira's patent loss in 2023. Later in the period, shares were negatively impacted as the company reported a revenue miss driven by headwinds in its Aesthetics business.

The consumer discretionary sector further contributed to relative results due to positive stock picks. Shares of Las Vegas Sands Corp. have lagged reopening

peers as China's increased lockdowns throughout the year delayed reopening in Macau. Shares benefited during the third and fourth quarter due to a strong recovery in its Singapore operations, which helped offset some of the costs associated with Macau.

Conversely, stock selection in the energy sector notably detracted from relative performance. Shares of TC Energy Corp .(out of benchmark) detracted from relative performance over the calendar-year period. Shares were lifted early in the year as global natural gas prices dramatically rose following Russia's invasion of Ukraine. In the third quarter, shares were pressured as capital markets risk and a higher interest rate environment weighed on performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Equity Income Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-3.40 | &nbsp;&nbsp;&nbsp;&nbsp;6.93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.69 | &nbsp;&nbsp;&nbsp;&nbsp;39.80 | &nbsp;&nbsp;&nbsp;&nbsp;152.24 |
| Equity Income Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-3.64 | &nbsp;&nbsp;&nbsp;&nbsp;6.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.48 | &nbsp;&nbsp;&nbsp;&nbsp;38.42 | &nbsp;&nbsp;&nbsp;&nbsp;147.27 |
| Equity Income Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-3.38 | &nbsp;&nbsp;&nbsp;&nbsp;6.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75 | &nbsp;&nbsp;&nbsp;&nbsp;40.15 | &nbsp;&nbsp;&nbsp;&nbsp;153.55 |
| Russell 1000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-7.54 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;10.29 | &nbsp;&nbsp;&nbsp;&nbsp;38.09 | &nbsp;&nbsp;&nbsp;&nbsp;166.32 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 1000 Value Index tracks the performance of publicly traded large-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;0.72 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;0.71 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Financial Industries Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Susan A. Curry, Ryan P. Lentell, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks growth of capital. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies that are principally engaged in financial services.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img39180e7315.jpg)

---

| | |
|:---|:---|
| **Industry Composition (% of net assets)** |  |
| Banks | 47.1 |
| Insurance | 28.9 |
| Capital markets | 13.9 |
| Diversified financial services | &nbsp;&nbsp;&nbsp;2.8 |
| Equity real estate investment trusts | &nbsp;&nbsp;&nbsp;2.6 |
| Consumer finance | &nbsp;&nbsp;&nbsp;1.5 |
| Thrifts and mortgage finance | &nbsp;&nbsp;&nbsp;0.5 |
| Mortgage real estate investment trusts | &nbsp;&nbsp;&nbsp;0.5 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.2 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Financial Industries Trust Series I shares declined 13.67% and the S&P 500 Financials Index declined 10.53%.
**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.**

The financials sector declined in this challenging environment although it significantly outperformed global markets, as measured by the MSCI World

Index. From a subsector perspective, performance dispersion was wide, with the more economically sensitive industries of equity real estate investment trusts and banks generally underperforming. More defensive industries, such as insurance and diversified financial services, afforded relative protection providing solid positive absolute returns.

The portfolio posted a loss and underperformed the S&P 500 Financials Index. Out-of-benchmark positions in the real estate and information technology sectors detracted from returns, while several positions in the insurance space contributed to relative performance.

Live Oak Bancshares, Inc., a high growth tech-enabled national small business lender, detracted from performance during the period. Berkshire Hathaway, Inc. and Brookfield Corp. (out of benchmark) detracted from the portfolio's performance during the period. Prologis, Inc., a U.S.

based industrial real estate investment trust, also hurt performance during the year.

Unum Group, a provider of life and disability insurance as well as other employee group benefits, aided performance. TriCo Bancshares, a California-based regional bank, was also a contributor during the period. Bank of America Corp., S&P Global, Inc., and American International Group, Inc. were also contributors to the portfolio's relative performance.

Over the period, we positioned the portfolio consistent with our view related to the global economic environment and its impact on the global financials sector. A challenging macro environment led us to position the portfolio more defensively during the year by substantially increasing its exposure to insurance companies while also reducing its exposure to the banking industry.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Financial Industries Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.67 | &nbsp;&nbsp;&nbsp;&nbsp;5.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.39 | &nbsp;&nbsp;&nbsp;&nbsp;28.93 | &nbsp;&nbsp;&nbsp;&nbsp;145.38 |
| Financial Industries Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.83 | &nbsp;&nbsp;&nbsp;&nbsp;5.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.17 | &nbsp;&nbsp;&nbsp;&nbsp;27.66 | &nbsp;&nbsp;&nbsp;&nbsp;140.49 |
| Financial Industries Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.61 | &nbsp;&nbsp;&nbsp;&nbsp;5.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.45 | &nbsp;&nbsp;&nbsp;&nbsp;29.27 | &nbsp;&nbsp;&nbsp;&nbsp;146.62 |
| S&P 500 Financials Index | &nbsp;&nbsp;&nbsp;&nbsp;-10.53 | &nbsp;&nbsp;&nbsp;&nbsp;6.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.16 | &nbsp;&nbsp;&nbsp;&nbsp;36.48 | &nbsp;&nbsp;&nbsp;&nbsp;215.06 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Lipper Financial Services Index | &nbsp;&nbsp;&nbsp;&nbsp;-11.61 | &nbsp;&nbsp;&nbsp;&nbsp;5.82 | &nbsp;&nbsp;&nbsp;&nbsp;10.78 | &nbsp;&nbsp;&nbsp;&nbsp;32.68 | &nbsp;&nbsp;&nbsp;&nbsp;178.36 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Financials Index tracks the performance of publicly traded large-cap financial companies in the United States.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Lipper Financial Services Index consists of the 30 largest funds in the Lipper peer category that invest primarily in equity securities of domestic companies engaged in providing financial services, including but not limited to banks, finance companies, insurance companies and securities/brokerage firms.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;0.85 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;0.84 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Fundamental All Cap Core Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Emory (Sandy) Sanders, CFA, Jonathan T. White, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital. Under normal market conditions, the trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. Market capitalizations of these companies will span the capitalization spectrum. Equity securities include common, convertible, and preferred securities and their equivalents.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img2ae371e716.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 25.0 |
| Consumer discretionary | 21.5 |
| Financials | 19.1 |
| Communication services | &nbsp;&nbsp;&nbsp;9.3 |
| Energy | &nbsp;&nbsp;&nbsp;5.5 |
| Health care | &nbsp;&nbsp;&nbsp;5.5 |
| Industrials | &nbsp;&nbsp;&nbsp;4.7 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.3 |
| Real estate | &nbsp;&nbsp;&nbsp;2.3 |
| Materials | &nbsp;&nbsp;&nbsp;1.3 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.5 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Fundamental All Cap Core Trust Series I shares declined 24.29% and the Russell 3000 Index declined 19.21%.
**Environment ► U.S. stocks advanced in the fourth quarter, buoyed by strong performance in October and November as encouraging inflation data led to hope that the U.S. Federal Reserve would soon ease up on its interest rate increases.**

The portfolio posted a loss and underperformed its benchmark. Stock picks in the communication services, consumer staples and a large overweight in the consumer discretionary sector notably hampered the strategy's relative performance.

Individual detractors included an overweight in e-commerce giant Amazon.com, Inc., which declined after the company gave weaker-than-expected guidance for the fourth quarter and all-important holiday sales season. Shares of leading social network and metaverse company Meta Platforms, Inc. fell as investors reacted negatively to the company's decision to accelerate investments in its nascent metaverse business. We eliminated the portfolio's holdings in Meta Platforms early in the period.

On the upside, positioning in the information technology sector and stock picks in the consumer discretionary sector boosted relative performance. A sizable overweight in liquefied natural gas company Chenière Energy, Inc., contributed to the over all

performance as weakening natural gas prices spurred some profit-taking. Top contributors include BellRing Brands, Inc. and Suncor Energy, Inc. (out of benchmark) were overall contributors. Elsewhere, the stock of investment banking company The Goldman Sachs Group, Inc. rallied, thanks to strong execution in a challenging environment, enthusiasm for the company's global footprint and alternative investment offerings.

The portfolio ended the period with notable overweights in the consumer discretionary and financials sectors, an increased stake in the information technology, and reduced exposure to the communication services sector.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Fundamental All Cap Core Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-24.29 | &nbsp;&nbsp;&nbsp;&nbsp;8.26 | &nbsp;&nbsp;&nbsp;&nbsp;12.30 | &nbsp;&nbsp;&nbsp;&nbsp;48.68 | &nbsp;&nbsp;&nbsp;&nbsp;219.04 |
| Fundamental All Cap Core Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-24.43 | &nbsp;&nbsp;&nbsp;&nbsp;8.04 | &nbsp;&nbsp;&nbsp;&nbsp;12.08 | &nbsp;&nbsp;&nbsp;&nbsp;47.21 | &nbsp;&nbsp;&nbsp;&nbsp;212.72 |
| Fundamental All Cap Core Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-24.26 | &nbsp;&nbsp;&nbsp;&nbsp;8.31 | &nbsp;&nbsp;&nbsp;&nbsp;12.35 | &nbsp;&nbsp;&nbsp;&nbsp;49.04 | &nbsp;&nbsp;&nbsp;&nbsp;220.54 |
| Russell 3000 Index | &nbsp;&nbsp;&nbsp;&nbsp;-19.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.79 | &nbsp;&nbsp;&nbsp;&nbsp;12.13 | &nbsp;&nbsp;&nbsp;&nbsp;52.37 | &nbsp;&nbsp;&nbsp;&nbsp;214.28 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 3000 Index tracks the performance of 3,000 publicly traded large-, mid-, and small-cap companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;0.71 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;0.70 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Fundamental Large Cap Value Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Nicholas Renart, Emory (Sandy) Sanders, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation. Under normal market conditions, the trust invests at least 80% of its net assets in equity securities of large-capitalization companies. The trust considers large-capitalization companies to be those that at the time of purchase have a market capitalization equal to or greater than that of the top 80% of the companies that comprise the Russell 1000 Index. Equity securities include common, convertible, and preferred securities and their equivalents.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img5999c7e017.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 19.5 |
| Health care | 16.4 |
| Industrials | 14.8 |
| Information technology | 12.7 |
| Consumer staples | &nbsp;&nbsp;&nbsp;9.7 |
| Communication services | &nbsp;&nbsp;&nbsp;7.5 |
| Energy | &nbsp;&nbsp;&nbsp;7.4 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;7.1 |
| Real estate | &nbsp;&nbsp;&nbsp;2.4 |
| Materials | &nbsp;&nbsp;&nbsp;1.9 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.6 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Fundamental Large Cap Value Trust Series I shares declined 7.95% and the Russell 1000 Value Index declined 7.54%.**

**Environment ► The U.S. stock market posted a steep loss in 2022, as inflation remained stubbornly high. The U.S. Federal Reserve aggressively hiked its short-term interest rate target, and fears mounted that the U.S. economy and earnings could be headed for a sharp recession. Added headwinds included geopolitical tensions and late-year signs of decelerated consumer spending. For the period, U.S. equities across all market capitalizations posted sizable declines; however, value stocks significantly outperformed growth stocks.**

The portfolio posted a loss and slightly underperformed its benchmark. Security selection in

the industrials and information technology sectors, a sizable overweight in the energy sector and positioning in the real estate sector aided the portfolio's relative performance. Among individual contributors were a large overweight in liquefied natural gas producer (LNG) Chenière Energy, Inc. and a stake in Canadian oil sands producer Suncor Energy, Inc. (out of benchmark) holding. Each stock performed well as energy demand improved amid global supply shifts. Another standout was managed care company Elevance Health, Inc., an overweight that benefited from improved demand for its services and the defensive nature of its business model.

Conversely, stock picks in the communication services and financials sectors and positioning in the consumer discretionary sector hindered relative performance. Individual disappointments included private equity firm KKR & Company, Inc., which

declined as market weakness and higher interest rates lowered near-term expectations around performance fees and the company's ability to deploy capital. Elsewhere, a new position in Elanco Animal Health, Inc., which produces medicine for pets and livestock, fell as investors awaited a turnaround in the business. Lastly, shares of media giant Comcast Corp. were pressured by subscriber losses as mobility recovered. Each of these stocks was an overweight at period end.

While stock prices generally reflect expectations for a fairly negative and prolonged earnings recession, we expect mild economic deceleration and better-than-expected earnings growth in 2023, with acceleration in 2024.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Fundamental Large Cap Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-7.95 | &nbsp;&nbsp;&nbsp;&nbsp;8.59 | &nbsp;&nbsp;&nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;50.96 | &nbsp;&nbsp;&nbsp;&nbsp;182.87 |
| Fundamental Large Cap Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-8.13 | &nbsp;&nbsp;&nbsp;&nbsp;8.37 | &nbsp;&nbsp;&nbsp;&nbsp;10.74 | &nbsp;&nbsp;&nbsp;&nbsp;49.46 | &nbsp;&nbsp;&nbsp;&nbsp;177.26 |
| Fundamental Large Cap Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-7.86 | &nbsp;&nbsp;&nbsp;&nbsp;8.64 | &nbsp;&nbsp;&nbsp;&nbsp;11.02 | &nbsp;&nbsp;&nbsp;&nbsp;51.36 | &nbsp;&nbsp;&nbsp;&nbsp;184.41 |
| Russell 1000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;-7.54 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;10.29 | &nbsp;&nbsp;&nbsp;&nbsp;38.09 | &nbsp;&nbsp;&nbsp;&nbsp;166.32 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 1000 Value Index tracks the performance of publicly traded large-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;0.72 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;0.71 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Global Equity Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Paul Boyne, Uday Chatterjee, Stephen Hermsdorf, Felicity Smith. Effective March 31, 2022, Uday Chatterjee and Felicity Smith were added as portfolio managers of the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of net assets (plus borrowings for investment purposes) in a diversified portfolio of equity securities.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img036558e318.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 24.9 |
| Financials | 14.9 |
| Health care | 10.6 |
| Consumer staples | &nbsp;&nbsp;&nbsp;9.7 |
| Materials | &nbsp;&nbsp;&nbsp;8.7 |
| Communication services | &nbsp;&nbsp;&nbsp;8.7 |
| Industrials | &nbsp;&nbsp;&nbsp;7.8 |
| Energy | &nbsp;&nbsp;&nbsp;5.9 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;4.9 |
| Utilities | &nbsp;&nbsp;&nbsp;1.9 |
| Real estate | &nbsp;&nbsp;&nbsp;1.5 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.5 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Global Equity Trust Series I shares declined 14.84% and the MSCI World Index declined 18.14%.
**Environment ► Global equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These**

developments, together with slowing growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.

Growth stocks, which tend to be adversely affected by rising rates, were poor performers while value names held up reasonably well due to gains in the energy and healthcare industry. The emerging markets also suffered outsized losses, reflecting the collapse in Russia's market and weakness in Chinese equities.

The portfolio posted a loss but outperformed its benchmark. Specifically, stock selection in the information technology and financials sectors were the largest contributors to relative outperformance.

An underweight exposure within the consumer discretionary sector contributed to the relative gains.

Among the largest individual contributors included Corteva, Inc., TotalEnergies SE, and Sumitomo Mitsui Financial Group, Inc. Offsetting a portion of the relative outperformance was stock selection in the United Kingdom as well as within the industrials and consumer staples sectors. Overweight exposures to the emerging markets and within the communication services sector also offset a portion of the relative gains. Among the largest individual detractors included Meta Platforms, Inc., Alphabet, Inc., and Samsung Electronics Company, Ltd. Meta Platforms was sold during the period.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Global Equity Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.84 | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;5.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69.88 |
| Global Equity Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;5.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66.53 |
| Global Equity Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;5.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70.61 |
| MSCI World Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.14 | &nbsp;&nbsp;&nbsp;&nbsp;6.14 | &nbsp;&nbsp;&nbsp;&nbsp;8.85 | &nbsp;&nbsp;&nbsp;&nbsp;34.70 | &nbsp;&nbsp;&nbsp;&nbsp;133.58 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI World Index tracks the performance of publicly traded large- and mid-cap stocks of developed-market companies.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;&nbsp;0.88 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;0.87 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Health Sciences Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: Ziad Bakri, MD, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks of companies engaged, at the time of investment, in the research, development, production or distribution of products or services related to health care, medicine, or the life sciences.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img8706002019.jpg)

---

| | |
|:---|:---|
| **Industry Composition (% of net assets)** |  |
| Biotechnology | 27.2 |
| Health care providers and services | 20.7 |
| Pharmaceuticals | 17.9 |
| Life sciences tools and services | 17.1 |
| Health care equipment and supplies | 14.4 |
| Health care technology | &nbsp;&nbsp;&nbsp;1.0 |
| Specialty retail | &nbsp;&nbsp;&nbsp;0.2 |
| Capital markets | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;1.4 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Health Sciences Trust Series I shares declined 13.09% and the Lipper Health/Biotechnology Index declined 12.94%, and the S&P 500 Index declined 18.11%.**

**Environment ► Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, tightening financial conditions, and slowing economic and corporate earnings growth. The U.S. Federal Reserve's aggressive short-term interest rate hikes that began in March, as well as comments that it would be willing to risk causing a recession by raising rates and keeping them at a higher level in order to bring inflation down, also weighed on the market. Although many indexes finished the year above their lowest levels of 2022.**

The portfolio posted a negative return, outperformed the S&P 500 Index but underperformed the Lipper Health/Biotechnology Index. The portfolio's exposure to the services subsector, particularly a larger exposure to managed care companies such as UnitedHealth Group, Inc. and Elevance Health, Inc. assisted relative returns. The group benefited from strong fundamentals driven by a robust commercial pricing environment, broadly in-line healthcare utilization trends, and abating political overhangs.

An overweight allocation to the pharmaceuticals subsector was another source of relative strength, which was partially offset by stock selection. An overweight exposure to pharmaceuticals, which benefited from their more defensive characteristics, was another source of relative strength. Investor preference for companies with strong balance sheets and cash flow generation in an environment with persistent inflation and rising interest rates benefited firms such as Merck & Company, Inc. and Eli Lilly and Company.

Conversely, an unfavorable stock selection in the biotechnology industry detracted from relative returns.

The life sciences industry also hindered relative returns due to an overweight allocation. The portfolio is overweight in life sciences companies, which develop the platforms, instrumentation, and technology that drives future discovery and the application of drugs and diagnostics. We believe that fundamentals overall remain exceptional. Analytical instruments demand has remained well above historical trends for the second year in a row, driven by demand from biopharma, semiconductors, and reshoring. We expect merger and aquisition activity to accelerate within the group as cash continues to build on balance sheets and sellers' valuation expectations become more realistic.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Health Sciences Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.09 | &nbsp;&nbsp;&nbsp;&nbsp;9.75 | &nbsp;&nbsp;&nbsp;&nbsp;15.09 | &nbsp;&nbsp;&nbsp;&nbsp;59.23 | &nbsp;&nbsp;&nbsp;&nbsp;307.70 |
| Health Sciences Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.24 | &nbsp;&nbsp;&nbsp;&nbsp;9.53 | &nbsp;&nbsp;&nbsp;&nbsp;14.86 | &nbsp;&nbsp;&nbsp;&nbsp;57.67 | &nbsp;&nbsp;&nbsp;&nbsp;299.67 |
| Health Sciences Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.02 | &nbsp;&nbsp;&nbsp;&nbsp;9.81 | &nbsp;&nbsp;&nbsp;&nbsp;15.15 | &nbsp;&nbsp;&nbsp;&nbsp;59.63 | &nbsp;&nbsp;&nbsp;&nbsp;309.76 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Lipper Health/Biotechnology Index | &nbsp;&nbsp;&nbsp;&nbsp;-12.94 | &nbsp;&nbsp;&nbsp;&nbsp;8.62 | &nbsp;&nbsp;&nbsp;&nbsp;13.69 | &nbsp;&nbsp;&nbsp;&nbsp;51.23 | &nbsp;&nbsp;&nbsp;&nbsp;260.64 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Lipper Health/Biotechnology Index tracks the largest mutual funds within the health biotechnology category.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;0.96 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;0.95 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## International Equity Index Trust
Subadvisor: SSGA Funds Management, Inc.

Portfolio Managers: Thomas Coleman, CFA, Karl Schneider, CAIA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to track the performance of a broad-based equity index of foreign companies primarily in developed countries and, to a lesser extent, in emerging markets. The trust invests at least 80% of its assets in securities listed in the MSCI All Country World excluding U.S. Index or American Depositary Receipts or Global Depositary Receipts representing such securities.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img3943c1bc20.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 20.1 |
| Industrials | 12.2 |
| Consumer discretionary | 11.2 |
| Information technology | 10.5 |
| Health care | &nbsp;&nbsp;&nbsp;9.6 |
| Consumer staples | &nbsp;&nbsp;&nbsp;8.8 |
| Materials | &nbsp;&nbsp;&nbsp;8.1 |
| Energy | &nbsp;&nbsp;&nbsp;5.9 |
| Communication services | &nbsp;&nbsp;&nbsp;5.7 |
| Utilities | &nbsp;&nbsp;&nbsp;3.3 |
| Real estate | &nbsp;&nbsp;&nbsp;2.2 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.4 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, International Equity Index Trust Series I shares declined 16.25% and the MSCI ACWI ex USA Index declined 16.00%.**

**Environment ► Global economic growth and equity markets faced multiple headwinds in the first quarter. Commodity prices accelerated the trend as western countries imposed strict sanctions on Russia's economy. Hawkish pivot by western central banks amid rising inflation also weighed on stocks and bonds. The Russian invasion of Ukraine further exacerbated the supply chain and inflation problems at the end of February.**

Markets remained volatile in the second quarter and equities posted sharp declines. Concerns over persistent inflation, Hawkish central bank actions and the ongoing Russian invasion weighed heavily on sentiment. Global markets declined and growth

stumbled in the third quarter as inflation remained persistently high, geopolitical tensions escalated, and central banks raised interest rates aggressively, signaling larger-than-expected future hikes. After rallying early in the third quarter, risk assets declined in August and September as central banks struggled with inflation amid slowing economic growth.

After three consecutive quarters of negative performance, the last quarter of 2022 ended the year positively for global equities largely due to the equity rallies seen during October and November. However, the sustainability of these gains was in doubt, as the high inflationary environment continued globally, with no end in sight for the Russian invasion of Ukraine.

The portfolio reported consecutive negative returns for the first three quarters but managed to turn in a positive return in the fourth quarter. On a country

level, Brazil, Turkey, and Mexico were the strongest contributors to performance while China, Japan, and Taiwan were the main detractors.

The portfolio used index futures contracts in order to obtain equity exposure for cash and dividend receivable balances. The portfolio's use of futures helped it track the index and didn't contribute materially to performance relative to the MSCI ACWI ex USA Index.

On an individual security level, the top positive contributors to performance were Shell PLC, Novo Nordisk A/S, and TotalEnergies SE. The top negative contributors to performance were Samsung Electronics Company, Ltd., Tencent Holdings, Ltd., and Taiwan Semiconductor Manufacturing Company, Ltd.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| International Equity Index Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-16.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;3.95 | &nbsp;&nbsp;&nbsp;&nbsp;42.09 |
| International Equity Index Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-16.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;3.37 | &nbsp;&nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;&nbsp;&nbsp;39.29 |
| International Equity Index Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-16.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;3.63 | &nbsp;&nbsp;&nbsp;&nbsp;4.22 | &nbsp;&nbsp;&nbsp;&nbsp;42.82 |
| MSCI ACWI ex USA Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;&nbsp;4.49 | &nbsp;&nbsp;&nbsp;&nbsp;45.20 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI All Country World (ACWI) ex USA Index tracks the performance of publicly traded large- and mid-cap stocks of companies in both developed markets and emerging markets, excluding the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;0.60 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;0.34 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## International Small Company Trust
Subadvisor: Dimensional Fund Advisors LP

Portfolio Managers: Jed S. Fogdall, Arun Keswani, CFA, Joel P. Schneider. Effective January 1, 2023, Bhanu P. Singh no longer served as a portfolio manager for the fund

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small-cap companies. The trust will primarily invest in a broad and diverse group of equity securities of foreign small companies of developed markets, but may also hold equity securities of companies located in emerging markets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img5d49bb5621.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Industrials | 22.5 |
| Financials | 13.9 |
| Consumer discretionary | 12.2 |
| Materials | 11.7 |
| Information technology | 10.4 |
| Consumer staples | &nbsp;&nbsp;&nbsp;5.8 |
| Energy | &nbsp;&nbsp;&nbsp;5.8 |
| Health care | &nbsp;&nbsp;&nbsp;5.5 |
| Real estate | &nbsp;&nbsp;&nbsp;4.2 |
| Communication services | &nbsp;&nbsp;&nbsp;3.8 |
| Utilities | &nbsp;&nbsp;&nbsp;3.2 |
| Other assets and liabilities, net | &nbsp;&nbsp;&nbsp;1.0 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, International Small Company Trust Series I shares declined 18.17% and the MSCI World ex USA Small Cap Index declined 20.59%.**

**Environment ► In U.S. dollar terms, developed ex-U.S. markets had negative performance for the one-year period, but outperformed both U.S. and emerging markets. Most developed ex-U.S. market currencies, particularly the Swedish krona and Japanese yen, depreciated relative to the U.S. dollar. Overall, currency movements had a negative impact on the U.S. dollar-denominated returns of the developed ex-U.S. market.**

Along the market capitalization dimension, small caps (MSCI World ex USA Small Cap Index) underperformed large caps (MSCI World ex USA Index). Midcaps (MSCI World ex USA Mid Cap Index), a subset of the MSCI World ex USA Index universe, outperformed small caps.

Along the relative price dimension, large-cap value stocks (MSCI World ex USA Value Index) outperformed large-cap growth stocks (MSCI World ex USA Growth Index) and small-cap value stocks (MSCI World ex USA Small Cap Value Index) outperformed small-cap growth stocks (MSCI World ex USA Small Cap Growth Index).

The portfolio's exclusion of stocks with the lowest profitability and highest relative prices contributed positively to relative performance. Its exclusion of stocks with high asset growth also contributed positively to relative performance. At the sector level, the portfolio's exclusion of real estate investment trusts (REITs) also contributed positively to relative performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| International Small Company Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-18.17 | &nbsp;&nbsp;&nbsp;&nbsp;-0.24 | &nbsp;&nbsp;&nbsp;&nbsp;5.33 | &nbsp;&nbsp;&nbsp;&nbsp;-1.20 | &nbsp;&nbsp;&nbsp;&nbsp;68.15 |
| International Small Company Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-18.35 | &nbsp;&nbsp;&nbsp;&nbsp;-0.45 | &nbsp;&nbsp;&nbsp;&nbsp;5.11 | &nbsp;&nbsp;&nbsp;&nbsp;-2.24 | &nbsp;&nbsp;&nbsp;&nbsp;64.68 |
| International Small Company Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-18.17 | &nbsp;&nbsp;&nbsp;&nbsp;-0.20 | &nbsp;&nbsp;&nbsp;&nbsp;5.38 | &nbsp;&nbsp;&nbsp;&nbsp;-1.02 | &nbsp;&nbsp;&nbsp;&nbsp;68.95 |
| MSCI World ex USA Small Cap Index | &nbsp;&nbsp;&nbsp;&nbsp;-20.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;5.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp;&nbsp;&nbsp;75.21 |
| MSCI EAFE Small Cap Index | &nbsp;&nbsp;&nbsp;&nbsp;-21.39 | &nbsp;&nbsp;&nbsp;&nbsp;-0.05 | &nbsp;&nbsp;&nbsp;&nbsp;6.21 | &nbsp;&nbsp;&nbsp;&nbsp;-0.23 | &nbsp;&nbsp;&nbsp;&nbsp;82.64 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The MSCI World ex USA Small Cap Index tracks the performance of publicly traded small-cap stocks of developed-market companies, excluding the United States.

The MSCI Europe, Australasia, and Far East (EAFE) Small Cap Index tracks the performance of publicly traded small-cap stocks of companies in those regions.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;0.96 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;0.95 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Lifestyle Balanced Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA\*, David Kobuszewski, CFA\*, Robert Sykes, CFA, Nathan Thooft, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital. The trust operates as a fund of funds and normally invests approximately 50% of its assets in underlying funds that invest primarily in equity securities or in futures contracts on equity markets and approximately 50% of its assets in underlying funds that invest primarily in fixed-income securities or in futures contracts on fixed-income markets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](imgac83710522.jpg)

---

| | |
|:---|:---|
| **Asset Allocation (% of net assets)** |  |
| Equity | 50.2 |
| Fixed income | 49.8 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Lifestyle Balanced Portfolio Series II shares declined 15.60% and a blend of 50% Bloomberg U.S. Aggregate Bond Index, 35% Russell 3000 Index, and 15% MSCI EAFE Index declined 15.11%.**

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing**

growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.

Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. Conversely, the value stocks outperformed thanks to the gains for energy stocks. On a regional basis, the U.S. market, which was hurt by growth stocks' large representation in its major indexes, underperformed its developed-market peers. The emerging markets also suffered losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

The portfolio posted a loss and trailed its blended benchmark. The collective underperformance of the

underlying managers, particularly in equities, caused the majority of the shortfall. The most pronounced weakness was in large-cap growth space, followed by the developed- and emerging-market international categories. Manager performance in fixed income detracted, as well.

In terms of positioning, we maintained a steady approach throughout the year. Within the equity portfolio, we slightly decreased the portfolio's holdings in U.S. large-cap equities.

\*Geoffrey Kelley, CFA, and David Kobuszewski, CFA, were added as portfolio managers of the portfolio as of January 1, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Lifestyle Balanced Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-15.45 | &nbsp;&nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;&nbsp;&nbsp;5.27 | &nbsp;&nbsp;&nbsp;&nbsp;17.41 | &nbsp;&nbsp;&nbsp;&nbsp;67.11 |
| Lifestyle Balanced Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.60 | &nbsp;&nbsp;&nbsp;&nbsp;3.05 | &nbsp;&nbsp;&nbsp;&nbsp;5.08 | &nbsp;&nbsp;&nbsp;&nbsp;16.24 | &nbsp;&nbsp;&nbsp;&nbsp;64.11 |
| Lifestyle Balanced Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-15.36 | &nbsp;&nbsp;&nbsp;&nbsp;3.32 | &nbsp;&nbsp;&nbsp;&nbsp;5.32 | &nbsp;&nbsp;&nbsp;&nbsp;17.73 | &nbsp;&nbsp;&nbsp;&nbsp;67.88 |
| Morningstar U.S. Moderate Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.32 | &nbsp;&nbsp;&nbsp;&nbsp;4.74 | &nbsp;&nbsp;&nbsp;&nbsp;6.91 | &nbsp;&nbsp;&nbsp;&nbsp;26.04 | &nbsp;&nbsp;&nbsp;&nbsp;94.98 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.11 | &nbsp;&nbsp;&nbsp;&nbsp;3.66 | &nbsp;&nbsp;&nbsp;&nbsp;5.66 | &nbsp;&nbsp;&nbsp;&nbsp;19.70 | &nbsp;&nbsp;&nbsp;&nbsp;73.43 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Series I and Series NAV shares were first offered on November 1, 2013. For periods prior to November 1, 2013, the performance shown reflects the performance of Series II shares. Series II shares have higher expenses than Series I and Series NAV shares. Had the performance for periods prior to November 1, 2013 reflected Series I and/or Series NAV expenses, performance would be higher.

Morningstar U.S. Moderate Target Allocation Index seeks 60% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 35% Russell 3000 Index, 15% MSCI EAFE Index, and 50% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;0.62 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;0.62 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Lifestyle Conservative Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA\*, David Kobuszewski, CFA\*, Robert Sykes, CFA, Nathan Thooft, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a high level of current income with some consideration given to growth of capital. The trust operates as a fund of funds and normally invests approximately 20% of its assets in underlying funds that invest primarily in equity securities or in futures contracts on equity markets and approximately 80% of its assets in underlying funds that invest primarily in fixed-income securities or in futures contracts on fixed-income markets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img167e07fa23.jpg)

---

| | |
|:---|:---|
| **Asset Allocation (% of net assets)** |  |
| Fixed income | 80.0 |
| Equity | 20.0 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Lifestyle Conservative Portfolio Series II shares declined 14.71% and a blend of 80% Bloomberg U.S. Aggregate Bond Index, 14% Russell 3000 Index, and 6% MSCI EAFE Index declined 13.78%.**

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing**

growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.

Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. Conversely, the value stocks outperformed thanks to the gains for energy stocks. On a regional basis, the U.S. market, which was hurt by growth stocks' large representation in its major indexes, underperformed its developed-market peers. The emerging markets also suffered losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

The portfolio posted a loss and underperformed its blended benchmark. The underperformance of the

underlying managers, particularly in equities, caused the majority of the shortfall. The most pronounced weakness was in large-cap growth space, followed by the developed- and emerging-market international categories. Manager performance in fixed income detracted, as well.

In terms of positioning, we maintained a steady approach throughout the year. Within the equity portfolio, we slightly decreased the portfolio's holdings in U.S. large-cap equities.

\*Geoffrey Kelley, CFA, and David Kobuszewski, CFA, were added as portfolio managers of the portfolio as of January 1, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Lifestyle Conservative Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.62 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;2.80 | &nbsp;&nbsp;&nbsp;&nbsp;7.33 | &nbsp;&nbsp;&nbsp;&nbsp;31.75 |
| Lifestyle Conservative Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-14.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;2.61 | &nbsp;&nbsp;&nbsp;&nbsp;6.27 | &nbsp;&nbsp;&nbsp;&nbsp;29.33 |
| Lifestyle Conservative Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;2.84 | &nbsp;&nbsp;&nbsp;&nbsp;7.60 | &nbsp;&nbsp;&nbsp;&nbsp;32.33 |
| Morningstar U.S. Conservative Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp;&nbsp;&nbsp;9.80 | &nbsp;&nbsp;&nbsp;&nbsp;37.68 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;8.01 | &nbsp;&nbsp;&nbsp;&nbsp;33.56 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Series I and Series NAV shares were first offered on November 1, 2013. For periods prior to November 1, 2013, the performance shown reflects the performance of Series II shares. Series II shares have higher expenses than Series I and Series NAV shares. Had the performance for periods prior to November 1, 2013 reflected Series I and/or Series NAV expenses, performance would be higher.

Morningstar U.S. Conservative Target Allocation Index seeks 22.5% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 14% Russell 3000 Index, 6% MSCI EAFE Index, and 80% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;0.65 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;0.64 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Lifestyle Growth Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA\*, David Kobuszewski, CFA\*, Robert Sykes, CFA, Nathan Thooft, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital. Current income is also a consideration. The trust operates as a fund of funds and normally invests approximately 70% of its assets in underlying funds that invest primarily in equity securities or in futures contracts on equity markets and approximately 30% of its assets in underlying funds that invest primarily in fixed-income securities or in futures contracts on fixed-income markets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img81db5f7b24.jpg)

---

| | |
|:---|:---|
| **Asset Allocation (% of net assets)** |  |
| Equity | 70.5 |
| Fixed income | 29.5 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Lifestyle Growth Portfolio Series II shares declined 16.24% and a blend of 30% Bloomberg U.S. Aggregate Bond Index, 49% Russell 3000 Index, and 21% MSCI EAFE Index declined 16.09%.**

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing**

growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.

Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. Conversely, the value stocks outperformed thanks to the gains for energy stocks. On a regional basis, the U.S. market, which was hurt by growth stocks' large representation in its major indexes, underperformed its developed-market peers. The emerging markets also suffered losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

The portfolio posted a loss and trailed its blended benchmark. The collective underperformance of the

underlying managers, particularly in equities, caused the majority of the shortfall. The most pronounced weakness was in large-cap growth space, followed by the developed- and emerging-market international categories. Manager performance in fixed income detracted, as well.

In terms of positioning, we maintained a steady approach throughout the year. Within the equity portfolio, we slightly decreased the portfolio's holdings in U.S. large-cap equities.

\*Geoffrey Kelley, CFA, and David Kobuszewski, CFA, were added as portfolio managers of the portfolio as of January 1, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Lifestyle Growth Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-16.08 | &nbsp;&nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;&nbsp;&nbsp;6.89 | &nbsp;&nbsp;&nbsp;&nbsp;23.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94.70 |
| Lifestyle Growth Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-16.24 | &nbsp;&nbsp;&nbsp;&nbsp;4.19 | &nbsp;&nbsp;&nbsp;&nbsp;6.69 | &nbsp;&nbsp;&nbsp;&nbsp;22.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91.14 |
| Lifestyle Growth Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-15.99 | &nbsp;&nbsp;&nbsp;&nbsp;4.46 | &nbsp;&nbsp;&nbsp;&nbsp;6.94 | &nbsp;&nbsp;&nbsp;&nbsp;24.37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95.70 |
| Morningstar U.S. Moderately Aggressive Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.31 | &nbsp;&nbsp;&nbsp;&nbsp;5.54 | &nbsp;&nbsp;&nbsp;&nbsp;8.14 | &nbsp;&nbsp;&nbsp;&nbsp;30.94 | &nbsp;&nbsp;&nbsp;&nbsp;118.66 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.09 | &nbsp;&nbsp;&nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;&nbsp;7.41 | &nbsp;&nbsp;&nbsp;&nbsp;27.25 | &nbsp;&nbsp;&nbsp;&nbsp;104.34 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Moderately Aggressive Target Allocation Index seeks 77.5% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 49% Russell 3000 Index, 21% MSCI EAFE Index and 30% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;0.60 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;0.60 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Lifestyle Moderate Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA\*, David Kobuszewski, CFA\*, Robert Sykes, CFA, Nathan Thooft, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a balance between a high level of current income and growth of capital, with a greater emphasis on income. The trust operates as a fund of funds and normally invests approximately 40% of its assets in underlying funds that invest primarily in equity securities or in futures contracts on equity markets and approximately 60% of its assets in underlying funds that invest primarily in fixed-income securities or in futures contracts on fixed-income markets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img380bf42725.jpg)

---

| | |
|:---|:---|
| **Asset Allocation (% of net assets)** |  |
| Fixed income | 59.7 |
| Equity | 40.3 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Lifestyle Moderate Portfolio Series II shares declined 15.34% and a blend of 60% Bloomberg U.S. Aggregate Bond Index, 28% Russell 3000 Index, and 12% MSCI EAFE Index declined 14.64%.**

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.**

Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. Conversely, the value stocks outperformed thanks to the gains for energy stocks. On a regional basis, the U.S. market, which was hurt by growth stocks' large representation in its major indexes, underperformed its developed-market peers. The emerging markets also suffered losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

The portfolio posted a loss and underperformed its blended benchmark. The collective underperformance of the underlying managers, particularly in equities, caused the majority of the

shortfall. The most pronounced weakness was in large-cap growth space, followed by the developed- and emerging-market international categories. Manager performance in fixed income detracted, as well.

In terms of positioning, we maintained a steady approach throughout the year. Within the equity portfolio, we slightly decreased the portfolio's holdings in U.S. large-cap equities.

\*Geoffrey Kelley, CFA, and David Kobuszewski, CFA, were added as portfolio managers of the portfolio as of January 1, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Lifestyle Moderate Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-15.19 | &nbsp;&nbsp;&nbsp;&nbsp;2.66 | &nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;14.01 | &nbsp;&nbsp;&nbsp;&nbsp;55.01 |
| Lifestyle Moderate Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.34 | &nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp;4.29 | &nbsp;&nbsp;&nbsp;&nbsp;12.87 | &nbsp;&nbsp;&nbsp;&nbsp;52.24 |
| Lifestyle Moderate Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-15.08 | &nbsp;&nbsp;&nbsp;&nbsp;2.71 | &nbsp;&nbsp;&nbsp;&nbsp;4.53 | &nbsp;&nbsp;&nbsp;&nbsp;14.30 | &nbsp;&nbsp;&nbsp;&nbsp;55.80 |
| Morningstar U.S. Moderately Conservative Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.06 | &nbsp;&nbsp;&nbsp;&nbsp;3.05 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 | &nbsp;&nbsp;&nbsp;&nbsp;16.19 | &nbsp;&nbsp;&nbsp;&nbsp;60.56 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.64 | &nbsp;&nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;15.84 | &nbsp;&nbsp;&nbsp;&nbsp;59.29 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Moderately Conservative Target Allocation Index seeks 40% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 28% Russell 3000 Index, 12% MSCI EAFE Index, and 60% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;0.63 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;0.63 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Mid Cap Growth Trust
Subadvisor: Wellington Management Company LLP

Portfolio Managers: Mario E. Abularach, CFA, Stephen Mortimer

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital by investing at least 80% of the trust's net assets (plus any borrowings for investment purposes) in equity securities of medium-sized companies with significant capital appreciation potential.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imge7a5204426.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 25.1 |
| Health care | 22.6 |
| Consumer discretionary | 19.8 |
| Industrials | 11.8 |
| Communication services | &nbsp;&nbsp;&nbsp;5.2 |
| Energy | &nbsp;&nbsp;&nbsp;4.6 |
| Materials | &nbsp;&nbsp;&nbsp;3.6 |
| Financials | &nbsp;&nbsp;&nbsp;3.5 |
| Consumer staples | &nbsp;&nbsp;&nbsp;1.0 |
| Real estate | &nbsp;&nbsp;&nbsp;0.8 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.0 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Mid Cap Growth Trust Series I shares declined 34.64% and the Russell Midcap Growth Index declined 26.72%.
**Environment ► U.S. equities fell during the period amid rampant inflation, surging borrowing costs, uncertainty about corporate earnings and an increased probability of recession. Equities opened the year lower as they registered their first quarterly loss since March 2020. Fears about the economic implications of Russia's invasion of Ukraine and the prospect of aggressive monetary policy tightening by the U.S. Federal Reserve (Fed) drove the markets into correction territory in February.**

Equities continued to fall during volatile second and third quarters as risk sentiment deteriorated on fears that aggressive interest-rate hikes and tighter

financial conditions would constrict economic growth and drive the U.S. to recession. Equities rallied in the fourth quarter following three straight quarterly declines. Greater optimism that the Fed would begin to scale back its aggressive pace of interest rate hikes, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in October and November before risk sentiment waned in December amid recession fears, macroeconomic headwinds, and downside earnings risks in the coming quarters.

The portfolio posted a loss and underperformed its benchmark. Stock selection detracted from relative performance during the period. Weak selection in the information technology and communication services sectors was partially offset by favorable selection in consumer discretionary and materials.

Sector allocation also detracted from relative performance. An overweight in communication services and underweight in energy drove the negative allocation effect, while an underweight in information technology and overweight in healthcare partially offset results.

Top relative detractors included RingCentral, Inc., a cloud-based communications provider, and Spotify Technology SA, a digital music service company. The top relative contributors included Ulta Beauty, Inc., a beauty product retailer, and Insulet Corp., a medical device company.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Mid Cap Growth Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-34.64 | &nbsp;&nbsp;&nbsp;&nbsp;8.19 | &nbsp;&nbsp;&nbsp;&nbsp;11.30 | &nbsp;&nbsp;&nbsp;&nbsp;48.22 | &nbsp;&nbsp;&nbsp;&nbsp;191.71 |
| Mid Cap Growth Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-34.77 | &nbsp;&nbsp;&nbsp;&nbsp;7.97 | &nbsp;&nbsp;&nbsp;&nbsp;11.07 | &nbsp;&nbsp;&nbsp;&nbsp;46.73 | &nbsp;&nbsp;&nbsp;&nbsp;185.75 |
| Mid Cap Growth Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-34.61 | &nbsp;&nbsp;&nbsp;&nbsp;8.24 | &nbsp;&nbsp;&nbsp;&nbsp;11.35 | &nbsp;&nbsp;&nbsp;&nbsp;48.56 | &nbsp;&nbsp;&nbsp;&nbsp;193.05 |
| Russell Midcap Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-26.72 | &nbsp;&nbsp;&nbsp;&nbsp;7.64 | &nbsp;&nbsp;&nbsp;&nbsp;11.41 | &nbsp;&nbsp;&nbsp;&nbsp;44.52 | &nbsp;&nbsp;&nbsp;&nbsp;194.56 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell Midcap Growth Index tracks the performance of publicly traded mid-cap companies with higher price-to-book ratios and higher forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;0.87 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;0.86 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Mid Cap Index Trust
Subadvisor: Manulife Investment Management (North America) Limited

Portfolio Managers: Boncana Maiga, CFA, CIM, Ashikhusein Shahpurwala, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to approximate the aggregate total return of a mid-capitalization U.S. domestic equity market index by investing at least 80% of its net assets (plus any borrowings for investment purposes) at the time of investment in: (a) common stocks that are included in the S&P MidCap 400 Index; and (b) securities (which may or may not be included in the S&P MidCap 400 Index) that the Subadvisor believes as a group will behave in a manner similar to the S&P MidCap 400 Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img274fd07827.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Industrials | 19.2 |
| Financials | 14.7 |
| Consumer discretionary | 13.6 |
| Information technology | 11.8 |
| Health care | &nbsp;&nbsp;&nbsp;9.9 |
| Real estate | &nbsp;&nbsp;&nbsp;7.9 |
| Materials | &nbsp;&nbsp;&nbsp;6.4 |
| Utilities | &nbsp;&nbsp;&nbsp;4.0 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.9 |
| Energy | &nbsp;&nbsp;&nbsp;3.8 |
| Communication services | &nbsp;&nbsp;&nbsp;2.0 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.8 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Mid Cap Index Trust Series I shares declined 13.43% and the S&P MidCap 400 Index declined 13.06%.
**Environment ► U.S. stock market indexes posted steep losses in 2022, marking their worst year since 2008. Inflation, which the U.S. Federal Reserve (Fed) initially thought would be transitory, remained stubbornly high as energy and food prices soared following Russia's invasion of Ukraine. To curb**

inflation, the Fed hiked its key overnight lending rate seven times in 2022 and curtailed its massive bond buying program. Higher rates triggered mounting fears that the U.S. economy was headed for recession, rattling investors. Added headwinds included rising inflation in many non-U.S. developed markets and a shift in China's restrictive COVID-19 policies that spurred concern over increased transmission of the virus and the potential spread of new variants.

The portfolio posted a loss and underperformed its benchmark. Selection in health care and underweight in energy sector were the primary detractors. Top relative detractors included regional bank Sterling Bancorp, Inc. and transportation company XPO, Inc. Top relative contributors included regional financial services company Webster Financial Corp. and transportation solutions company RXO, Inc.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Mid Cap Index Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.43 | &nbsp;&nbsp;&nbsp;&nbsp;6.24 | &nbsp;&nbsp;&nbsp;&nbsp;10.31 | &nbsp;&nbsp;&nbsp;&nbsp;35.37 | &nbsp;&nbsp;&nbsp;&nbsp;166.79 |
| Mid Cap Index Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.59 | &nbsp;&nbsp;&nbsp;&nbsp;6.04 | &nbsp;&nbsp;&nbsp;&nbsp;10.09 | &nbsp;&nbsp;&nbsp;&nbsp;34.11 | &nbsp;&nbsp;&nbsp;&nbsp;161.55 |
| Mid Cap Index Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.39 | &nbsp;&nbsp;&nbsp;&nbsp;6.30 | &nbsp;&nbsp;&nbsp;&nbsp;10.37 | &nbsp;&nbsp;&nbsp;&nbsp;35.72 | &nbsp;&nbsp;&nbsp;&nbsp;168.12 |
| S&P MidCap 400 Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.06 | &nbsp;&nbsp;&nbsp;&nbsp;6.71 | &nbsp;&nbsp;&nbsp;&nbsp;10.78 | &nbsp;&nbsp;&nbsp;&nbsp;38.34 | &nbsp;&nbsp;&nbsp;&nbsp;178.33 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P MidCap 400 Index tracks the performance of 400 mid-cap publicly traded companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.51 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;0.40 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Mid Value Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: Vincent DeAugustino, CFA. Effective June 1, 2022, Vincent DeAugustino, CFA, replaced David J. Wallack as portfolio manager of the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of its net assets (plus any borrowings for investment purposes) in companies with market capitalizations that are within the Russell Midcap Value Index. The trust invests in a diversified mix of common stocks of mid-size U.S. companies that are believed to be undervalued by various measures and offer good prospects for capital appreciation.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img0e669a0928.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 15.6 |
| Industrials | 13.7 |
| Health care | 10.8 |
| Energy | &nbsp;&nbsp;&nbsp;8.8 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;8.8 |
| Consumer staples | &nbsp;&nbsp;&nbsp;7.9 |
| Materials | &nbsp;&nbsp;&nbsp;7.6 |
| Information technology | &nbsp;&nbsp;&nbsp;6.2 |
| Real estate | &nbsp;&nbsp;&nbsp;6.2 |
| Communication services | &nbsp;&nbsp;&nbsp;5.0 |
| Utilities | &nbsp;&nbsp;&nbsp;4.9 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;4.5 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

#### Performance ► For the year ended December 31, 2022. Mid Value Trust Series I shares declined 4.31% and the Russell Midcap Value Index declined 12.03%.
**Environment ► Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, tightening financial conditions, and slowing economic and corporate earnings growth. The U.S. Federal Reserve's (Fed's) aggressive short-term interest rate hikes that began in March, as**

well as comments that it would be willing to risk causing a recession by raising rates and keeping them at a higher level in order to bring inflation down, also weighed on the market.

The portfolio posted a negative return but outperformed its benchmark. The energy sector notably contributed to relative performance driven by an overweight allocation. We remain overweight within the energy sector.

The consumer discretionary sector also boosted relative results, owing to positive stock selection and an underweight allocation. Shares of Strategic Education, Inc. aided relative results over the year. Shares appreciated over the year following reported increases in both enrollments and starts.

Real estate was another area of relative strength, driven by an underweight allocation and favorable stock selection. We rotated the portfolio's holdings in the real estate sector during the period and maintain a significantly underweight position relative to the benchmark.

On the contrary, weak stock selection in financials detracted from relative results, with the biggest detractor being Signature Bank.

Another area of relative weakness was materials, where stock choices weighed on relative returns. However, this was partially offset by an underweight allocation. Shares of The Scotts Miracle-Gro Company weighed on relative performance over the year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Mid Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.31 | &nbsp;&nbsp;&nbsp;&nbsp;6.80 | &nbsp;&nbsp;&nbsp;&nbsp;10.42 | &nbsp;&nbsp;&nbsp;&nbsp;38.98 | &nbsp;&nbsp;&nbsp;&nbsp;169.55 |
| Mid Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.52 | &nbsp;&nbsp;&nbsp;&nbsp;6.58 | &nbsp;&nbsp;&nbsp;&nbsp;10.20 | &nbsp;&nbsp;&nbsp;&nbsp;37.55 | &nbsp;&nbsp;&nbsp;&nbsp;164.11 |
| Mid Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-4.30 | &nbsp;&nbsp;&nbsp;&nbsp;6.85 | &nbsp;&nbsp;&nbsp;&nbsp;10.47 | &nbsp;&nbsp;&nbsp;&nbsp;39.25 | &nbsp;&nbsp;&nbsp;&nbsp;170.75 |
| Russell Midcap Value Index | &nbsp;&nbsp;&nbsp;&nbsp;-12.03 | &nbsp;&nbsp;&nbsp;&nbsp;5.72 | &nbsp;&nbsp;&nbsp;&nbsp;10.11 | &nbsp;&nbsp;&nbsp;&nbsp;32.07 | &nbsp;&nbsp;&nbsp;&nbsp;161.93 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell Midcap Value Index tracks the performance of publicly traded mid-cap companies with lower price-to-book ratios and lower forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;0.92 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;0.91 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Real Estate Securities Trust
Subadvisor: Wellington Management Company LLP

Portfolio Manager: Bradford D. Stoesser

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a combination of long-term capital appreciation and current income by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of real estate investment trusts (REITs) and real estate companies. Equity securities include common stock, preferred stock and securities convertible into common stock.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgb858401329.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Specialized REITs | 22.8 |
| Retail REITs | 17.3 |
| Residential REITs | 15.7 |
| Industrial REITs | 15.1 |
| Health care REITs | 10.3 |
| Diversified REITs | &nbsp;&nbsp;&nbsp;5.0 |
| Office REITs | &nbsp;&nbsp;&nbsp;4.9 |
| Hotel and resort REITs | &nbsp;&nbsp;&nbsp;3.7 |
| Construction and engineering | &nbsp;&nbsp;&nbsp;1.2 |
| Hotels, resorts and cruise lines | &nbsp;&nbsp;&nbsp;1.1 |
| Real estate services | &nbsp;&nbsp;&nbsp;0.3 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.6 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Real Estate Securities Trust Series I shares declined 28.51% and the Dow Jones U.S. Select REIT Index declined 25.96%.**

**Environment ► Equities declined during the period, amid rampant inflation, surging borrowing costs, uncertainty about corporate earnings and an increased probability of recession. During the first quarter, fears about the economic implications of Russia's invasion of Ukraine and the prospect of aggressive monetary policy tightening by the U.S. Federal Reserve (Fed) drove the S&P 500 Index into correction territory. Equities continued to fall during a volatile second quarter. Surging U.S. Treasury yields and disappointing earnings results from some of the largest technology companies**

drove the markets lower. The housing market was pressured by soaring mortgage rates, slowing demand, and elevated home prices. Equities continued to fall in the third quarter as risk sentiment deteriorated on fears that aggressive interest-rate hikes and tighter financial conditions would constrict economic growth and drive the United States to recession. Equities partially rebound in the fourth quarter fueled by optimism that the Fed would begin to scale back its pace of interest rate hikes.

The portfolio posted a loss and underperformed its benchmark. Stock selection was the primary driver of relative underperformance, driven by weak selection in multifamily and warehouse and logistics. Strong selection in specialty finance and real estate technology partially offset results.

Sector allocation detracted from relative performance, driven by underweights to specialty finance and retail-malls. An overweight in retail-shopping centers and underweight to office partially offset results.

The top relative detractors during the period included not owning Realty Income Corp. and an underweight to Simon Property Group, Inc. The top relative contributors included an out-of-benchmark position in VICI Properties, Inc. and an underweight to Digital Realty Trust, Inc. We eliminated the portfolio's holdings in Digital Realty Trust prior to period end.

At the end of the period, the portfolio was most overweight in retail-shopping centers and real estate services and most underweight in office and multifamily.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Real Estate Securities Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-28.51 | &nbsp;&nbsp;&nbsp;&nbsp;4.35 | &nbsp;&nbsp;&nbsp;&nbsp;6.62 | &nbsp;&nbsp;&nbsp;&nbsp;23.70 | &nbsp;&nbsp;&nbsp;&nbsp;89.84 |
| Real Estate Securities Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-28.64 | &nbsp;&nbsp;&nbsp;&nbsp;4.14 | &nbsp;&nbsp;&nbsp;&nbsp;6.40 | &nbsp;&nbsp;&nbsp;&nbsp;22.46 | &nbsp;&nbsp;&nbsp;&nbsp;86.03 |
| Real Estate Securities Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-28.45 | &nbsp;&nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;23.99 | &nbsp;&nbsp;&nbsp;&nbsp;90.78 |
| Dow Jones U.S. Select REIT Index | &nbsp;&nbsp;&nbsp;&nbsp;-25.96 | &nbsp;&nbsp;&nbsp;&nbsp;2.50 | &nbsp;&nbsp;&nbsp;&nbsp;5.74 | &nbsp;&nbsp;&nbsp;&nbsp;13.12 | &nbsp;&nbsp;&nbsp;&nbsp;74.78 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Dow Jones U.S. Select REIT Index tracks the performance of publicly traded real estate investment trusts (REITs) and is designed to serve as a proxy for direct real estate investment, in part by excluding companies whose performance may be driven by factors other than the value of real estate.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.80 | &nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.75 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;0.74 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Science & Technology Trust
Subadvisor: T. Rowe Price Associates, Inc. Effective June 23, 2022, T. Rowe Price Associates, Inc. became the sole subadvisor to the fund and Allianz Global Investors U.S. LLC no longer serves as subadvisor.

Portfolio Manager: Ken Allen\*

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital. Current income is incidental to the trust's objective. Under normal market conditions, the trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies expected to benefit from the development, and/or use of science and technology. For purposes of satisfying this requirement, common stock may include equity-linked notes and derivatives relating to common stocks, such as options on equity-linked notes.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img8e510eb030.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 53.6 |
| Consumer discretionary | 27.9 |
| Communication services | 13.2 |
| Health care | &nbsp;&nbsp;&nbsp;0.4 |
| Real estate | &nbsp;&nbsp;&nbsp;0.3 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;4.6 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Science & Technology Trust Series I shares declined 35.67% and the Lipper Science and Technology Index declined 36.34%.**

**Environment ► Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, tightening financial conditions, and slowing economic and corporate earnings growth. The U.S. Federal Reserve's (Fed's) aggressive short-term interest rate hikes that began in March, as well as comments that it would be willing to risk causing a recession by raising rates and keeping them at a higher level in order to bring inflation down, also weighed on the market. Although many indexes finished the year above their lowest levels of 2022,**

the year ended with many investors concerned that ongoing Fed rate hikes would hurt corporate earnings and push the economy into a recession in 2023.

The portfolio posted a loss but outperformed its the Lipper Science and Technology Index benchmark. Stock selection in the internet industry contributed to relative performance, which was partially offset by an overweight allocation. Trip.com Group, Ltd., China's leading online travel agency, rose sharply in the last few months of 2022 following news that the Chinese government would ease its most burdensome travel restrictions associated with the then-implemented COVID-zero policy. The expectation of surging volumes in domestic and international tourism travel in China helped drive the stock price up.

Strong stock picks in the software and hardware industries also contributed to relative returns. Pure

Storage, Inc., a provider of data storage solutions, posted strong earnings and beat estimates early in the year amid difficult supply chain dynamics. We opportunistically reduced the portfolio's position throughout the remainder of the year.

On the other end of the spectrum, a significant underweight in the financial services industry hindered relative returns. Not owning Visa, Inc. or Mastercard, Inc. hampered relative results as investors were drawn to the relative safety that they can potentially provide during a time of macroeconomic uncertainty. A significant underweight position in the telecom equipment industry also detracted from relative performance.

\*Effective October 1, 2023, Anthony Wang will be added as a portfolio manager of the portfolio, and effective January 1, 2024, Ken Allen will no longer serve as a portfolio manager of the portfolio.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Science & Technology Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-35.67 | &nbsp;&nbsp;&nbsp;&nbsp;8.57 | &nbsp;&nbsp;&nbsp;&nbsp;14.84 | &nbsp;&nbsp;&nbsp;&nbsp;50.83 | &nbsp;&nbsp;&nbsp;&nbsp;298.86 |
| Science & Technology Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-35.76 | &nbsp;&nbsp;&nbsp;&nbsp;8.37 | &nbsp;&nbsp;&nbsp;&nbsp;14.62 | &nbsp;&nbsp;&nbsp;&nbsp;49.44 | &nbsp;&nbsp;&nbsp;&nbsp;291.31 |
| Science & Technology Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-35.64 | &nbsp;&nbsp;&nbsp;&nbsp;8.62 | &nbsp;&nbsp;&nbsp;&nbsp;14.89 | &nbsp;&nbsp;&nbsp;&nbsp;51.20 | &nbsp;&nbsp;&nbsp;&nbsp;300.79 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Lipper Science and Technology Index | &nbsp;&nbsp;&nbsp;&nbsp;-36.34 | &nbsp;&nbsp;&nbsp;&nbsp;9.05 | &nbsp;&nbsp;&nbsp;&nbsp;14.09 | &nbsp;&nbsp;&nbsp;&nbsp;54.24 | &nbsp;&nbsp;&nbsp;&nbsp;273.61 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Lipper Science and Technology Index consists of the 30 largest funds in the Lipper peer category that invest primarily in the equity securities of domestic companies engaged in science and technology.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;0.98 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;0.97 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Small Cap Index Trust
Subadvisor: Manulife Investment Management (North America) Limited

Portfolio Managers: Boncana Maiga, CFA, CIM, Ashikhusein Shahpurwala, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to approximate the aggregate total return of a small-cap U.S. domestic equity market index. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) at the time of investment in: (a) common stocks that are included in the Russell 2000 Index; and (b) securities (which may or may not be included in the Russell 2000 Index) that the Subadvisor believes as a group will behave in a manner similar to the Russell 2000 Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imge76f92f831.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 16.5 |
| Health care | 16.2 |
| Industrials | 15.0 |
| Information technology | 12.2 |
| Consumer discretionary | 10.0 |
| Energy | &nbsp;&nbsp;&nbsp;6.5 |
| Real estate | &nbsp;&nbsp;&nbsp;6.2 |
| Materials | &nbsp;&nbsp;&nbsp;4.1 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.4 |
| Utilities | &nbsp;&nbsp;&nbsp;3.4 |
| Communication services | &nbsp;&nbsp;&nbsp;2.5 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;4.0 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Small Cap Index Trust Series I shares declined 20.65% and the Russell 2000 Index declined 20.44%.
**Environment ► U.S. stock market indexes posted steep losses in 2022, marking their worst year since 2008. Inflation, which the U.S. Federal Reserve (Fed) initially thought would be transitory, remained stubbornly high as energy and food prices soared following Russia's invasion of Ukraine. To curb**

inflation, the Fed hiked its key overnight lending rate seven times in 2022 and curtailed its massive bond buying program. Higher rates triggered mounting fears that the U.S. economy was headed for recession, rattling investors. Added headwinds included rising inflation in many non-U.S. developed markets and a shift in China's restrictive COVID-19 policies that spurred concern over increased transmission of the virus and the potential spread of new variants.

The portfolio posted a loss and underperformed its benchmark. Underweight in energy, materials and utilities sectors were the key laggards. Individual detractors included computer hardware company Synaptics, Inc., automated pharmacy provider Omnicell, Inc., and AMC Entertainment Holdings, Inc. Contributors included oil and gas producers Chord Energy Corp., Antero Resources Corp. (sold during the period), and Helmerich & Payne, Inc.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Small Cap Index Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-20.65 | &nbsp;&nbsp;&nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;&nbsp;8.67 | &nbsp;&nbsp;&nbsp;&nbsp;20.03 | &nbsp;&nbsp;&nbsp;&nbsp;129.72 |
| Small Cap Index Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-20.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;8.46 | &nbsp;&nbsp;&nbsp;&nbsp;18.87 | &nbsp;&nbsp;&nbsp;&nbsp;125.23 |
| Small Cap Index Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-20.63 | &nbsp;&nbsp;&nbsp;&nbsp;3.78 | &nbsp;&nbsp;&nbsp;&nbsp;8.73 | &nbsp;&nbsp;&nbsp;&nbsp;20.38 | &nbsp;&nbsp;&nbsp;&nbsp;131.00 |
| Russell 2000 Index | &nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;9.01 | &nbsp;&nbsp;&nbsp;&nbsp;22.41 | &nbsp;&nbsp;&nbsp;&nbsp;136.96 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 2000 Index tracks the performance of approximately 2,000 publicly traded small-cap companies in the United States.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.52 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;0.46 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Small Cap Opportunities Trust
Subadvisors: Dimensional Fund Advisors LP and GW&K Investment Management, LLC

Portfolio Managers: Jed S. Fogdall, Marc C. Leblond, Joel P. Schneider, Joseph C. Craigen , CFA, Daniel L. Miller, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of the trust's net assets (plus any borrowings for investment purposes) in equity securities of small-capitalization companies.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img7cc4c1a232.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 21.5 |
| Industrials | 18.1 |
| Consumer discretionary | 13.9 |
| Health care | 11.9 |
| Information technology | 11.9 |
| Energy | &nbsp;&nbsp;&nbsp;7.5 |
| Materials | &nbsp;&nbsp;&nbsp;6.5 |
| Consumer staples | &nbsp;&nbsp;&nbsp;3.6 |
| Communication services | &nbsp;&nbsp;&nbsp;1.9 |
| Real estate | &nbsp;&nbsp;&nbsp;1.5 |
| Utilities | &nbsp;&nbsp;&nbsp;0.4 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;1.3 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Small Cap Opportunities Trust Series I shares declined 10.07% and the Russell 2000 Index declined 20.44%.
**Environment ► U.S. stock market indexes posted steep losses in 2022, marking their worst year since 2008. Inflation, which the U.S. Federal Reserve (Fed) initially thought would be transitory, remained stubbornly high as energy and food prices soared following Russia's invasion of Ukraine. To curb inflation, the Fed hiked its key overnight lending rate seven times in 2022 and curtailed its massive bond buying program. Higher rates triggered mounting fears that the U.S. economy was headed for recession, rattling investors. Added headwinds included rising inflation in many non-U.S. developed markets and a shift in China's restrictive COVID-19 policies that spurred concern over increased transmission of the virus and the potential spread of new variants.** 

**Dimensional Fund Advisors LP ► The U.S. market had negative performance for the one-year period, trailing developed ex-U.S. markets, but outperforming emerging markets. Along the market capitalization dimension, small caps (Russell 2000 Index) underperformed large caps (Russell 1000 Index). Along the relative price dimension, large-cap value stocks (Russell 1000 Value Index) outperformed large-cap growth stocks (Russell 1000 Growth Index) and small-cap value stocks (Russell 2000 Value Index) outperformed small-cap growth stocks (Russell 2000 Growth Index).**

The portfolio's focus on value stocks contributed positively to relative performance. Its emphasis on stocks with higher profitability also contributed positively to relative performance. At the sector level, the portfolio's exclusion of real estate investment trusts (REITs) contributed positively to relative performance. Additionally, an underweight to the healthcare sector, due to the focus on value stocks, contributed positively to relative performance as

healthcare underperformed the overall index. Conversely, the portfolio's exclusion of highly regulated utilities detracted from relative performance, as utilities outperformed the overall index.

**GW&K Investment Management, LLC ► The strong relative outperformance came from strong stock selection. Most sectors contributed to the positive stock selection. The top contributor was Chemocentryx, Inc., a biopharmaceutical company that was acquired by Amgen, Inc. neither of which were held at period end. Other contributors included biotech company Halozyme Therapeutics, Inc. and pumping equipment firm ChampionX Corp.**

Underweight in energy and selection in industrials and materials detracted from performance. Among the portfolio's largest detractors were software firms Rapid7, Inc., landscape supplier SiteOne Landscape Supply, Inc., and machinery manufacturer The Shyft Group, Inc.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Small Cap Opportunities Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-10.07 | &nbsp;&nbsp;&nbsp;&nbsp;6.98 | &nbsp;&nbsp;&nbsp;&nbsp;9.73 | &nbsp;&nbsp;&nbsp;&nbsp;40.12 | &nbsp;&nbsp;&nbsp;&nbsp;153.03 |
| Small Cap Opportunities Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-10.24 | &nbsp;&nbsp;&nbsp;&nbsp;6.76 | &nbsp;&nbsp;&nbsp;&nbsp;9.51 | &nbsp;&nbsp;&nbsp;&nbsp;38.69 | &nbsp;&nbsp;&nbsp;&nbsp;148.03 |
| Small Cap Opportunities Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-10.03 | &nbsp;&nbsp;&nbsp;&nbsp;7.03 | &nbsp;&nbsp;&nbsp;&nbsp;9.79 | &nbsp;&nbsp;&nbsp;&nbsp;40.42 | &nbsp;&nbsp;&nbsp;&nbsp;154.37 |
| Russell 2000 Index | &nbsp;&nbsp;&nbsp;&nbsp;-20.44 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;9.01 | &nbsp;&nbsp;&nbsp;&nbsp;22.41 | &nbsp;&nbsp;&nbsp;&nbsp;136.96 |
| Russell 2000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.48 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;8.48 | &nbsp;&nbsp;&nbsp;&nbsp;22.41 | &nbsp;&nbsp;&nbsp;&nbsp;125.59 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 2000 Index tracks the performance of approximately 2,000 publicly traded small-cap companies in the United States.

The Russell 2000 Value Index tracks the performance of publicly traded small-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;1.09 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;0.83 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Small Cap Stock Trust
Subadvisor: Wellington Management Company LLP

Portfolio Managers: Steven C. Angeli, CFA, Ranjit Ramachandran, CFA, John V. Schneider, CFA. Effective on or about March 1, 2023, Steven C. Angeli, CFA, will no longer serve as a portfolio manager of the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of small-cap companies. For the purposes of the trust, "small cap companies" are those with market capitalizations, at the time of investment, not exceeding the maximum market capitalization of any company represented in either the Russell 2000 Index or the S&P SmallCap 600 Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgc643749733.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Health care | 24.4 |
| Industrials | 20.7 |
| Information technology | 16.7 |
| Consumer discretionary | 10.4 |
| Energy | &nbsp;&nbsp;&nbsp;8.3 |
| Financials | &nbsp;&nbsp;&nbsp;5.5 |
| Consumer staples | &nbsp;&nbsp;&nbsp;4.9 |
| Materials | &nbsp;&nbsp;&nbsp;3.1 |
| Real estate | &nbsp;&nbsp;&nbsp;2.7 |
| Communication services | &nbsp;&nbsp;&nbsp;2.6 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.7 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, the Small Cap Stock Trust Series I shares declined 31.12% and the Russell 2000 Growth Index declined 26.36%.**

**Environment ► U.S. equities fell during the period amid rising inflation, surging borrowing costs, uncertainty about corporate earnings and an increased probability of recession. U.S. equities opened the year lower as they registered their first quarterly loss since March 2020. Fears about the economic implications of Russia's invasion of Ukraine and the prospect of aggressive monetary policy tightening by the U.S. Federal Reserve (Fed) drove the broad-based S&P 500 Index into correction territory in February.**

Equities rallied in the fourth quarter following three straight quarterly declines. Greater optimism that the

Fed would begin to scale back its pace of interest-rate hikes, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in October and November before risk sentiment waned in December amid recession fears, macroeconomic headwinds, and downside earnings risks in the coming quarters.

The portfolio posted a loss and underperformed its benchmark. Security selection was a detractor, as weaker selection in the information technology and healthcare sectors was only partially offset by stronger selection in real estate and consumer staples.

Top relative detractors included health services platform R1 RCM Holdco, Inc. and developer of

human interface (HMI) hardware and software, Synaptics, Incorporated. We exited the portfolio's position in R1 RCM prior to period end.

The top relative contributors included e.l.f. Beauty, Inc., a clean, cruelty-free cosmetics company, and Chesapeake Energy, an oil and natural gas producer. We eliminated the portfolio's position in Chesapeake Energy prior to period end.

At the end of the period, the portfolio was most overweight industrials and healthcare and most underweight information technology and utilities. We increased active exposure to consumer staples, healthcare, and industrials, while reducing active exposure to information technology, communication services, and utilities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Small Cap Stock Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-31.12 | &nbsp;&nbsp;&nbsp;&nbsp;6.69 | &nbsp;&nbsp;&nbsp;&nbsp;9.71 | &nbsp;&nbsp;&nbsp;&nbsp;38.24 | &nbsp;&nbsp;&nbsp;&nbsp;152.63 |
| Small Cap Stock Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-31.25 | &nbsp;&nbsp;&nbsp;&nbsp;6.47 | &nbsp;&nbsp;&nbsp;&nbsp;9.50 | &nbsp;&nbsp;&nbsp;&nbsp;36.84 | &nbsp;&nbsp;&nbsp;&nbsp;147.74 |
| Small Cap Stock Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-31.13 | &nbsp;&nbsp;&nbsp;&nbsp;6.72 | &nbsp;&nbsp;&nbsp;&nbsp;9.76 | &nbsp;&nbsp;&nbsp;&nbsp;38.40 | &nbsp;&nbsp;&nbsp;&nbsp;153.83 |
| Russell 2000 Growth Index | &nbsp;&nbsp;&nbsp;&nbsp;-26.36 | &nbsp;&nbsp;&nbsp;&nbsp;3.51 | &nbsp;&nbsp;&nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;18.80 | &nbsp;&nbsp;&nbsp;&nbsp;141.12 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 2000 Growth Index tracks the performance of publicly traded small-cap companies in the United States with higher price-to-book ratios and higher forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;1.06 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;1.05 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Small Cap Value Trust
Subadvisor: Wellington Management Company LLP

Portfolio Managers: Edmond C. Griffin, CFA, Shaun F. Pedersen, Danielle S. Williams, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term capital appreciation by investing at least 80% of its net assets (plus any borrowings for investment purposes) in small-cap companies that are believed to be undervalued by various measures and offer good prospects for capital appreciation.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img20e1615434.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 24.9 |
| Industrials | 18.4 |
| Information technology | 10.6 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;9.0 |
| Materials | &nbsp;&nbsp;&nbsp;8.8 |
| Real estate | &nbsp;&nbsp;&nbsp;7.8 |
| Health care | &nbsp;&nbsp;&nbsp;5.2 |
| Consumer staples | &nbsp;&nbsp;&nbsp;4.0 |
| Communication services | &nbsp;&nbsp;&nbsp;3.1 |
| Utilities | &nbsp;&nbsp;&nbsp;2.7 |
| Energy | &nbsp;&nbsp;&nbsp;2.5 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.0 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Small Cap Value Trust Series I shares declined 10.24% and the Russell 2000 Value Index declined 14.48%.
**Environment ► U.S. equities fell during the period amid rising inflation, surging borrowing costs, uncertainty about corporate earnings and an increased probability of recession. U.S. equities opened the year lower as they registered their first quarterly loss since March 2020. Fears about the economic implications of Russia's invasion of Ukraine and the prospect of aggressive monetary policy tightening by the U.S. Federal Reserve (Fed) drove the broad-based S&P 500 Index into correction territory in February.**

Equities continued to fall during the second and third quarters. The housing market was pressured by soaring mortgage rates, slowing demand, and

elevated home prices. Risk sentiment deteriorated on fears that large interest-rate hikes and tighter financial conditions would constrict economic growth and drive the U.S. into a recession.

Equities rallied in the fourth quarter following three straight quarterly declines. Greater optimism that the Fed would begin to scale back its pace of interest-rate hikes, along with outsized short covering and hedging, helped to fuel a sharp rebound in stocks in October and November before risk sentiment waned in December amid recession fears, macroeconomic headwinds, and downside earnings risks in the coming quarters.

The portfolio posted a loss and outperformed its benchmark. Stock selection was the primary driver of relative outperformance. Strong selection in the information technology, healthcare, and financials sectors were only partially offset by weaker selection

in consumer staples, real estate, and materials. Sector allocation detracted from relative performance. An underweight to energy was the primary detractor from relative returns.

The top relative contributors included Haemonetics Corp., a global provider of blood and plasma supplies and services, and Huron Consulting Group, Inc., a management consulting company. Top relative detractors included Tyman PLC, manufacturer of building products, and Owens & Minor, Inc., a global healthcare logistics company. We eliminated Tyman and reduced exposure to Owens & Minor.

At the end of the period, the portfolio was most overweight in industrials and information technology and most underweight in healthcare and energy. The largest changes during the period included increased exposure to information technology and decreased exposure to healthcare.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Small Cap Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-10.24 | &nbsp;&nbsp;&nbsp;&nbsp;3.19 | &nbsp;&nbsp;&nbsp;&nbsp;7.69 | &nbsp;&nbsp;&nbsp;&nbsp;16.99 | &nbsp;&nbsp;&nbsp;&nbsp;109.82 |
| Small Cap Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-10.49 | &nbsp;&nbsp;&nbsp;&nbsp;2.97 | &nbsp;&nbsp;&nbsp;&nbsp;7.47 | &nbsp;&nbsp;&nbsp;&nbsp;15.77 | &nbsp;&nbsp;&nbsp;&nbsp;105.45 |
| Small Cap Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-10.25 | &nbsp;&nbsp;&nbsp;&nbsp;3.24 | &nbsp;&nbsp;&nbsp;&nbsp;7.74 | &nbsp;&nbsp;&nbsp;&nbsp;17.26 | &nbsp;&nbsp;&nbsp;&nbsp;110.69 |
| Russell 2000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.48 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;8.48 | &nbsp;&nbsp;&nbsp;&nbsp;22.41 | &nbsp;&nbsp;&nbsp;&nbsp;125.59 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 2000 Value Index tracks the performance of publicly traded small-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;1.05 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;1.29 | &nbsp;&nbsp;&nbsp;1.04 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Small Company Value Trust
Subadvisor: T. Rowe Price Associates, Inc.

Portfolio Manager: J. David Wagner, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks long-term growth of capital by investing at least 80% of its net assets (plus any borrowings for investment purposes) in companies with market capitalizations, at the time of investment, that do not exceed the maximum market capitalization of any security in the Russell 2000 Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img7f9845cd35.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Financials | 27.2 |
| Industrials | 14.3 |
| Health care | 10.9 |
| Real estate | &nbsp;&nbsp;&nbsp;9.0 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;8.7 |
| Energy | &nbsp;&nbsp;&nbsp;6.9 |
| Information technology | &nbsp;&nbsp;&nbsp;5.8 |
| Utilities | &nbsp;&nbsp;&nbsp;5.3 |
| Materials | &nbsp;&nbsp;&nbsp;4.6 |
| Consumer staples | &nbsp;&nbsp;&nbsp;2.8 |
| Communication services | &nbsp;&nbsp;&nbsp;0.7 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.8 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Small Company Value Trust Series I shares declined 18.73% and the Russell 2000 Value Index declined 14.48%.
**Environment ► Major U.S. stock indexes fell sharply in 2022, the worst year for equities since the 2008 global financial crisis. Investors shunned riskier assets in response to Russia's invasion of Ukraine, elevated inflation exacerbated by rising commodity prices and global supply chain disruptions, surging U.S. Treasury yields, tightening financial conditions, and slowing economic and corporate earnings growth. The U.S. Federal Reserve's (Fed's) aggressive short-term interest rate hikes that began in March, as well as comments that it would be willing to risk causing a recession by raising rates and keeping them at a higher level in order to bring inflation down, also**

weighed on the market. Although many indexes finished the year above their lowest levels of 2022, the year ended with many investors concerned that ongoing Fed rate hikes would hurt corporate earnings and push the economy into a recession in 2023.

The portfolio posted a loss and underperformed its benchmark. The financials sector was a significant detractor from relative results, driven by adverse stock choices. Live Oak Bancshares, Inc., a branchless bank headquartered in North Carolina, shares were punished along with other growth-oriented names during the year, but the company's most recent results point to continued strength in execution. Live Oak is the largest small-business lender, which may have weighed on shares as well as looming recession fears.

Stock selection in the energy sector also had a negative impact on relative results. Stock picks failed to keep pace with the strong performance of their benchmark peers in the period. The utilities sector further hampered relative performance due to stock selection.

Conversely, the materials sector contributed notably to relative performance, due to strong stock choices. Reliance Steel & Aluminum Company, a leading metals service center in North America, saw its shares move up significantly in a challenging period for industrial stocks. The company has produced record results driven by strong demand, despite steel and other cost inflation. An underweight allocation in communication services sector also boosted relative performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Small Company Value Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-18.73 | &nbsp;&nbsp;&nbsp;&nbsp;3.55 | &nbsp;&nbsp;&nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;&nbsp;19.04 | &nbsp;&nbsp;&nbsp;&nbsp;118.41 |
| Small Company Value Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-18.95 | &nbsp;&nbsp;&nbsp;&nbsp;3.34 | &nbsp;&nbsp;&nbsp;&nbsp;7.91 | &nbsp;&nbsp;&nbsp;&nbsp;17.87 | &nbsp;&nbsp;&nbsp;&nbsp;114.11 |
| Small Company Value Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-18.70 | &nbsp;&nbsp;&nbsp;&nbsp;3.60 | &nbsp;&nbsp;&nbsp;&nbsp;8.18 | &nbsp;&nbsp;&nbsp;&nbsp;19.34 | &nbsp;&nbsp;&nbsp;&nbsp;119.55 |
| Russell 2000 Value Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.48 | &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;8.48 | &nbsp;&nbsp;&nbsp;&nbsp;22.41 | &nbsp;&nbsp;&nbsp;&nbsp;125.59 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Russell 2000 Value Index tracks the performance of publicly traded small-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;1.19 |
| Net (%) | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;1.18 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Strategic Equity Allocation Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Matthew Murphy, CFA, Nathan Thooft, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks capital appreciation by investing at least 80% of its net assets (plus any borrowings for investments purposes) in U.S. and foreign equity securities of any market capitalization, including futures on indexes of equity securities. The trust's allocation to various markets and types of securities will be actively managed.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img96454ecb36.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 17.6 |
| Health care | 14.2 |
| Financials | 14.0 |
| Industrials | 11.5 |
| Consumer discretionary | 10.2 |
| Consumer staples | &nbsp;&nbsp;&nbsp;7.6 |
| Communication services | &nbsp;&nbsp;&nbsp;5.6 |
| Energy | &nbsp;&nbsp;&nbsp;5.0 |
| Materials | &nbsp;&nbsp;&nbsp;4.6 |
| Utilities | &nbsp;&nbsp;&nbsp;3.2 |
| Real estate | &nbsp;&nbsp;&nbsp;3.2 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.3 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Strategic Equity Allocation Trust Series NAV shares declined 16.98% and a blend of 70% Russell 3000 Index and 30% MSCI EAFE Index declined 17.71%.**

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the**

conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment.

Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. On the other hand, the value category held up

reasonably well thanks to the gains for energy stocks and relative strength for the healthcare sector. The emerging markets also suffered outsized losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

The portfolio posted a loss and outperformed its benchmark. The portfolio's underweight in U.S. communication services and information technology sectors contributed to performance, while selection in UK equities detracted.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Strategic Equity Allocation Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-16.98 | &nbsp;&nbsp;&nbsp;&nbsp;5.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.28 | &nbsp;&nbsp;&nbsp;&nbsp;33.76 | &nbsp;&nbsp;&nbsp;&nbsp;142.86 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;-18.11 | &nbsp;&nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;&nbsp;12.56 | &nbsp;&nbsp;&nbsp;&nbsp;56.88 | &nbsp;&nbsp;&nbsp;&nbsp;226.54 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-17.71 | &nbsp;&nbsp;&nbsp;&nbsp;6.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.91 | &nbsp;&nbsp;&nbsp;&nbsp;37.93 | &nbsp;&nbsp;&nbsp;&nbsp;157.37 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.

The Blended Index is 70% Russell 3000 Index and 30% MSCI EAFE Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.66 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.65 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## Total Stock Market Index Trust
Subadvisor: Manulife Investment Management (North America) Limited

Portfolio Managers: Boncana Maiga, CFA, CIM, Ashikhusein Shahpurwala, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to approximate the aggregate total return of a broad U.S. domestic equity market index. The trust invests at least 80% of its net assets (plus any borrowings for investment purposes) at the time of investment in: (a) the common stocks that are included in the Wilshire 5000 Total Market Full Cap Index; and (b) securities (which may or may not be included in the Wilshire 5000 Total Market Full Cap Index) that the Subadvisor believes as a group will behave in a manner similar to the Wilshire 5000 Total Market Full Cap Index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img1982b97837.jpg)

---

| | |
|:---|:---|
| **Sector Composition (% of net assets)** |  |
| Information technology | 23.2 |
| Health care | 14.5 |
| Financials | 12.0 |
| Consumer discretionary | &nbsp;&nbsp;&nbsp;9.8 |
| Industrials | &nbsp;&nbsp;&nbsp;9.3 |
| Consumer staples | &nbsp;&nbsp;&nbsp;6.9 |
| Communication services | &nbsp;&nbsp;&nbsp;6.8 |
| Energy | &nbsp;&nbsp;&nbsp;5.5 |
| Real estate | &nbsp;&nbsp;&nbsp;3.1 |
| Utilities | &nbsp;&nbsp;&nbsp;2.9 |
| Materials | &nbsp;&nbsp;&nbsp;2.5 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.5 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Total Stock Market Index Trust Series I shares declined 20.41% and the Wilshire 5000 Total Stock Market Full Cap Index declined 20.15%.**

**Environment ► U.S. stock market indexes posted steep losses in 2022, marking their worst year since 2008. Inflation, which the U.S. Federal Reserve (Fed) initially thought would be transitory, remained stubbornly high as energy and food prices soared following Russia's invasion of Ukraine. To curb**

inflation, the Fed hiked its key overnight lending rate seven times in 2022 and curtailed its massive bond buying program. Higher rates triggered mounting fears that the U.S. economy was headed for recession, rattling investors. Added headwinds included rising inflation in many non-U.S. developed markets and a shift in China's restrictive COVID-19 policies that spurred concern over increased transmission of the virus and the potential spread of new variants.

The portfolio posted a loss and underperformed its benchmark. The information technology, health care and utilities sectors were the primary detractors. Individual detractors included software giant Microsoft Corp., Amazon.com, Inc., and Tesla, Inc. Key contributors included holdings in the energy sector, including gas and oil producers Exxon Mobil Corp., and Chevron Corp.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Total Stock Market Index Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-20.41 | &nbsp;&nbsp;&nbsp;&nbsp;8.02 | &nbsp;&nbsp;&nbsp;&nbsp;11.40 | &nbsp;&nbsp;&nbsp;&nbsp;47.04 | &nbsp;&nbsp;&nbsp;&nbsp;194.41 |
| Total Stock Market Index Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-20.54 | &nbsp;&nbsp;&nbsp;&nbsp;7.80 | &nbsp;&nbsp;&nbsp;&nbsp;11.18 | &nbsp;&nbsp;&nbsp;&nbsp;45.59 | &nbsp;&nbsp;&nbsp;&nbsp;188.59 |
| Total Stock Market Index Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-20.34 | &nbsp;&nbsp;&nbsp;&nbsp;8.08 | &nbsp;&nbsp;&nbsp;&nbsp;11.46 | &nbsp;&nbsp;&nbsp;&nbsp;47.47 | &nbsp;&nbsp;&nbsp;&nbsp;195.84 |
| Wilshire 5000 Total Market Full Cap Index | &nbsp;&nbsp;&nbsp;&nbsp;-20.15 | &nbsp;&nbsp;&nbsp;&nbsp;8.42 | &nbsp;&nbsp;&nbsp;&nbsp;11.87 | &nbsp;&nbsp;&nbsp;&nbsp;49.84 | &nbsp;&nbsp;&nbsp;&nbsp;207.07 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Wilshire 5000 Total Market Full Cap Index is an unmanaged index which measures the performance of all equity securities (with readily available price data) of issuers with headquarters in the U.S.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.52 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.51 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

As a shareholder of a portfolio of John Hancock Variable Insurance Trust, you incur ongoing costs, such as management fees, distribution (Rule 12b-1) fees and other expenses. In the case of the American Portfolios and the Lifestyle Portfolios, in addition to the operating expenses which the portfolio bears directly, the portfolio indirectly bears a pro rata share of the operating expenses of the underlying funds in which the portfolio invests. Because the underlying funds have varied operating expenses and transaction costs and the portfolio may own different proportions of the underlying funds at different times, the amount of expenses incurred indirectly by the portfolio will vary. Had these indirect expenses been reflected in the following analysis, total expenses would be higher than amounts shown.

These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (July 1, 2022 through December 31, 2022).

#### Actual expenses:
The first line of each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses paid during period ended" to estimate the expenses you paid on your account during this period.

#### Hypothetical example for comparison purposes:
The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs and insurance-related charges. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.30% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.30% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1026.90 | &nbsp;&nbsp;&nbsp;&nbsp;$3.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.62%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.62%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.71%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71%<sup>2</sup> |
| **Series III** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.27%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.27%<sup>2</sup> |
| **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1041.90 | &nbsp;&nbsp;&nbsp;&nbsp;$3.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.65%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.65%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.72%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.72%<sup>2</sup> |
| **Series III** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.30%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.30%<sup>2</sup> |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$997.50 | &nbsp;&nbsp;&nbsp;&nbsp;$3.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.63%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.63%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.69%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.69%<sup>2</sup> |
| **Series III** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.28%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.28%<sup>2</sup> |
| **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1038.90 | &nbsp;&nbsp;&nbsp;&nbsp;$3.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.63%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.63%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.71%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71%<sup>2</sup> |
| **Series III** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.28%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.28%<sup>2</sup> |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1022.00 | &nbsp;&nbsp;&nbsp;&nbsp;$3.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.64%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.64%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.77%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.77%<sup>2</sup> |
| **Series III** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.29%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.29%<sup>2</sup> |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$935.20 | &nbsp;&nbsp;&nbsp;&nbsp;$3.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.80% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.80% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.75% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.82 | &nbsp;&nbsp;&nbsp;&nbsp;0.75% |
| **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$970.90 | &nbsp;&nbsp;&nbsp;&nbsp;$4.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.02% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.02% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1028.40 | &nbsp;&nbsp;&nbsp;&nbsp;$4.60 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.11% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;&nbsp;&nbsp;1.11% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.86% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.86% |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1072.40 | &nbsp;&nbsp;&nbsp;&nbsp;$4.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.94% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.94% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.14% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.14% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.89% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.89% |
| **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$987.70 | &nbsp;&nbsp;&nbsp;&nbsp;$5.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.17% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.17% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.37% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.97 | &nbsp;&nbsp;&nbsp;&nbsp;1.37% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1054.10 | &nbsp;&nbsp;&nbsp;&nbsp;$3.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1053.70 | &nbsp;&nbsp;&nbsp;&nbsp;$4.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.92% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.92% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1014.30 | &nbsp;&nbsp;&nbsp;&nbsp;$3.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1058.90 | &nbsp;&nbsp;&nbsp;&nbsp;$4.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.98% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.98% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
| **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1021.80 | &nbsp;&nbsp;&nbsp;&nbsp;$4.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.95% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.95% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.15% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85 | &nbsp;&nbsp;&nbsp;&nbsp;1.15% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
| **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1073.20 | &nbsp;&nbsp;&nbsp;&nbsp;$5.23 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.27 | &nbsp;&nbsp;&nbsp;&nbsp;1.20% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.20% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.95% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.95% |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1024.10 | &nbsp;&nbsp;&nbsp;&nbsp;$1.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.39% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.39% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.34% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.34% |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1046.80 | &nbsp;&nbsp;&nbsp;&nbsp;$5.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.12% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.32% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72 | &nbsp;&nbsp;&nbsp;&nbsp;1.32% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47 | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40 | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1002.60 | &nbsp;&nbsp;&nbsp;&nbsp;$0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.12%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.12%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.32%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.32%<sup>2</sup> |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.07%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.07%<sup>2</sup> |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$982.00 | &nbsp;&nbsp;&nbsp;&nbsp;$0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.13%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.33%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.33%<sup>2</sup> |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1016.50 | &nbsp;&nbsp;&nbsp;&nbsp;$0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.11%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.11%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.31%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.31%<sup>2</sup> |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.06%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.06%<sup>2</sup> |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$995.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.13%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13%<sup>2</sup> |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.33%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.33%<sup>2</sup> |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.08%<sup>2</sup> |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1090.80 | &nbsp;&nbsp;&nbsp;&nbsp;$4.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1077.90 | &nbsp;&nbsp;&nbsp;&nbsp;$2.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.46% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp;&nbsp;0.46% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.41% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.41% |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1064.50 | &nbsp;&nbsp;&nbsp;&nbsp;$4.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.74 | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$926.40 | &nbsp;&nbsp;&nbsp;&nbsp;$3.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90 | &nbsp;&nbsp;&nbsp;&nbsp;1.01% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.01% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$980.30 | &nbsp;&nbsp;&nbsp;&nbsp;$4.99 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09 | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.21% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16 | &nbsp;&nbsp;&nbsp;&nbsp;1.21% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1037.60 | &nbsp;&nbsp;&nbsp;&nbsp;$2.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.53% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.53% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.48% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.48% |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1074.90 | &nbsp;&nbsp;&nbsp;&nbsp;$4.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.90% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.10% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.10% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.85% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.85% |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1037.70 | &nbsp;&nbsp;&nbsp;&nbsp;$5.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;&nbsp;&nbsp;1.13% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.33% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.33% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.08% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50 | &nbsp;&nbsp;&nbsp;&nbsp;1.08% |
| **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1027.90 | &nbsp;&nbsp;&nbsp;&nbsp;$5.32 | &nbsp;&nbsp;&nbsp;&nbsp;1.04% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30 | &nbsp;&nbsp;&nbsp;&nbsp;1.04% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.33 | &nbsp;&nbsp;&nbsp;&nbsp;1.24% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.24% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.99% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.99% |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1023.10 | &nbsp;&nbsp;&nbsp;&nbsp;$5.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.14% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.14% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83 | &nbsp;&nbsp;&nbsp;&nbsp;1.34% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.34% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56 | &nbsp;&nbsp;&nbsp;&nbsp;1.09% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55 | &nbsp;&nbsp;&nbsp;&nbsp;1.09% |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1037.90 | &nbsp;&nbsp;&nbsp;&nbsp;$2.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.53% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.53% |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1019.40 | &nbsp;&nbsp;&nbsp;&nbsp;$2.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.70% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.70% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.45% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.45% |

---

<sup>1</sup> Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

<sup>2</sup> Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

This section shows the portfolios' 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the portfolios' total net assets as of the report date. The remaining securities held by the portfolios are grouped as "Other Securities" in each category. Certain percentages of less than 0.05% are rounded and presented as 0.0%. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by calling at 1-800-344-1029. This complete schedule, filed on the portfolios' Form N-CSR, is also available on the SEC's website at http://www.sec.gov.

#### 500 Index Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.9%** | **COMMON STOCKS - 96.9%** |  |  |
| **Communication services - 7.1%** | **Communication services - 7.1%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208756 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106648542 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95908878 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26446996 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31045597 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55328601 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31929877 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33357458 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94337602 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475003551 |  |
| **Consumer discretionary - 9.5%** | **Consumer discretionary - 9.5%** |  |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150087756 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39085715 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29807712 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66139653 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| The Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65442718 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287170479 | &nbsp;&nbsp;&nbsp;&nbsp;4.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637734033 |  |
| **Consumer staples - 7.0%** | **Consumer staples - 7.0%** |  |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40764994 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50262683 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31628429 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| The Coca-Cola Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49910696 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| The Procter & Gamble Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73009332 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40743498 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181629227 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467948859 |  |
| **Energy - 5.1%** | **Energy - 5.1%** |  |  |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65161691 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30282930 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92670641 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154887844 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343003106 |  |
| **Financials - 11.3%** | **Financials - 11.3%** |  |  |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46675089 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112390794 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79278311 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Wells Fargo & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31572605 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489317560 | &nbsp;&nbsp;&nbsp;&nbsp;7.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759234359 |  |
| **Health care - 15.3%** | **Health care - 15.3%** |  |  |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38759713 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57603784 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28322835 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30971165 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |

---

#### 500 Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;131983 | $&nbsp;&nbsp;&nbsp;&nbsp;35030928 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;158986 | &nbsp;&nbsp;&nbsp;&nbsp;58163438 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;530026 | &nbsp;&nbsp;&nbsp;&nbsp;93629093 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Merck & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;510693 | &nbsp;&nbsp;&nbsp;&nbsp;56661388 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Pfizer, Inc. | &nbsp;&nbsp;1131415 | &nbsp;&nbsp;&nbsp;&nbsp;57973705 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78982 | &nbsp;&nbsp;&nbsp;&nbsp;43494598 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;188567 | &nbsp;&nbsp;&nbsp;&nbsp;99974452 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;426633367 | &nbsp;&nbsp;&nbsp;&nbsp;6.3% |
|  |  | 1027218466 |  |
| **Industrials - 8.4%** | **Industrials - 8.4%** |  |  |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;135812 | &nbsp;&nbsp;&nbsp;&nbsp;29104512 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;297656 | &nbsp;&nbsp;&nbsp;&nbsp;30039444 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;504231285 | &nbsp;&nbsp;&nbsp;&nbsp;7.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;563375241 |  |
| **Information technology - 24.9%** | **Information technology - 24.9%** |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;127518 | &nbsp;&nbsp;&nbsp;&nbsp;34026903 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94346 | &nbsp;&nbsp;&nbsp;&nbsp;31750259 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Apple, Inc. | &nbsp;&nbsp;3026681 | &nbsp;&nbsp;&nbsp;&nbsp;393256643 | &nbsp;&nbsp;&nbsp;&nbsp;5.9% |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81407 | &nbsp;&nbsp;&nbsp;&nbsp;45517096 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;834792 | &nbsp;&nbsp;&nbsp;&nbsp;39769491 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;172004 | &nbsp;&nbsp;&nbsp;&nbsp;59810951 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Microsoft Corp. | &nbsp;&nbsp;1503464 | &nbsp;&nbsp;&nbsp;&nbsp;360560736 | &nbsp;&nbsp;&nbsp;&nbsp;5.4% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;504793 | &nbsp;&nbsp;&nbsp;&nbsp;73770449 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;200586 | &nbsp;&nbsp;&nbsp;&nbsp;26595698 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;184198 | &nbsp;&nbsp;&nbsp;&nbsp;30433194 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;329609 | &nbsp;&nbsp;&nbsp;&nbsp;68479566 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;507997536 | &nbsp;&nbsp;&nbsp;&nbsp;7.4% |
|  |  | 1671968522 |  |
| **Materials - 2.6%** | **Materials - 2.6%** |  |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;100467 | &nbsp;&nbsp;&nbsp;&nbsp;32770326 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;145301008 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;178071334 |  |
| **Real estate - 2.6%** | **Real estate - 2.6%** | &nbsp;&nbsp;&nbsp;&nbsp;175111356 | &nbsp;&nbsp;&nbsp;2.6% |
| **Utilities - 3.1%** | **Utilities - 3.1%** |  |  |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;396087 | &nbsp;&nbsp;&nbsp;&nbsp;33112873 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;172302647 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;205415520 |  |
| TOTAL COMMON STOCKS (Cost $2,861,330,268) | TOTAL COMMON STOCKS (Cost $2,861,330,268) | $6504084347 |  |
| **SHORT-TERM INVESTMENTS - 3.3%** | **SHORT-TERM INVESTMENTS - 3.3%** |  |  |
| **Short-term funds - 3.3%** | **Short-term funds - 3.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 22137618 | &nbsp;&nbsp;&nbsp;&nbsp;221283201 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $221,205,286) | TOTAL SHORT-TERM INVESTMENTS (Cost $221,205,286) | $&nbsp;&nbsp;&nbsp;&nbsp;221283201 |  |
| **Total Investments (500 Index Trust) (Cost $3,082,535,554) - 100.2%** | **Total Investments (500 Index Trust) (Cost $3,082,535,554) - 100.2%** | $**6725367548** | **100.2%** |
| **Other assets and liabilities, net - (0.2)%** | **Other assets and liabilities, net - (0.2)%** | &nbsp;&nbsp;&nbsp;&nbsp;**(13997525)** | &nbsp;&nbsp;**(0.2)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**6711370023** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $4,666,062. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$212604872 | &nbsp;&nbsp;&nbsp;&nbsp;$205791300 | &nbsp;&nbsp;&nbsp;&nbsp;$(6813572) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(6813572)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### American Asset Allocation Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |  |
| American Asset Allocation Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;50953723 | $&nbsp;&nbsp;&nbsp;&nbsp;1131172659 | 100.0% |
| TOTAL INVESTMENT COMPANIES (Cost $1,090,439,840) | TOTAL INVESTMENT COMPANIES (Cost $1,090,439,840) | $&nbsp;&nbsp;&nbsp;&nbsp;1131172659 |  |
| **Total Investments (American Asset Allocation Trust) (Cost $1,090,439,840) - 100.0%** | **Total Investments (American Asset Allocation Trust) (Cost $1,090,439,840) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;**1131172659** | **100.0%** |
| **Other assets and liabilities, net - 0.0%** | **Other assets and liabilities, net - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36980** | &nbsp;&nbsp;&nbsp;**0.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;**1131209639** | **100.0%** |

---

#### American Global Growth Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |  |
| American Global Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177890014 | 100.0% |
| TOTAL INVESTMENT COMPANIES (Cost $174,173,837) | TOTAL INVESTMENT COMPANIES (Cost $174,173,837) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177890014 |  |
| **Total Investments (American Global Growth Trust) (Cost $174,173,837) - 100.0%** | **Total Investments (American Global Growth Trust) (Cost $174,173,837) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177890014** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11519)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177878495** | **100.0%** |

---

#### American Growth Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |  |
| American Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9764267 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744915959 | 100.0% |
| TOTAL INVESTMENT COMPANIES (Cost $782,041,812) | TOTAL INVESTMENT COMPANIES (Cost $782,041,812) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744915959 |  |
| **Total Investments (American Growth Trust) (Cost $782,041,812) - 100.0%** | **Total Investments (American Growth Trust) (Cost $782,041,812) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**744915959** | **100.0%** |
| **Other assets and liabilities, net - 0.0%** | **Other assets and liabilities, net - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22866** | &nbsp;&nbsp;&nbsp;**0.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**744938825** | **100.0%** |

---

#### American Growth-Income Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |  |
| American Growth-Income Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;16155907 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811188074 | 100.0% |
| TOTAL INVESTMENT COMPANIES (Cost $761,794,054) | TOTAL INVESTMENT COMPANIES (Cost $761,794,054) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811188074 |  |
| **Total Investments (American Growth-Income Trust) (Cost $761,794,054) - 100.0%** | **Total Investments (American Growth-Income Trust) (Cost $761,794,054) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811188074** | **100.0%** |
| **Other assets and liabilities, net - 0.0%** | **Other assets and liabilities, net - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21591** | &nbsp;&nbsp;&nbsp;**0.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811209665** | **100.0%** |

---

#### American International Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |  |
| American International Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;22125075 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338734905 | 100.0% |
| TOTAL INVESTMENT COMPANIES (Cost $418,854,838) | TOTAL INVESTMENT COMPANIES (Cost $418,854,838) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338734905 |  |
| **Total Investments (American International Trust) (Cost $418,854,838) - 100.0%** | **Total Investments (American International Trust) (Cost $418,854,838) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**338734905** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24274)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**338710631** | **100.0%** |

---

#### Blue Chip Growth Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 99.4%** | **COMMON STOCKS - 99.4%** |  |  |
| **Communication services - 12.9%** | **Communication services - 12.9%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158906 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14020276 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97140983 | &nbsp;&nbsp;&nbsp;&nbsp;6.8% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24155608 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15514521 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6473625 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6156533 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15416240 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4473017 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183350803 |  |
| **Consumer discretionary - 14.6%** | **Consumer discretionary - 14.6%** |  |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97528704 | &nbsp;&nbsp;&nbsp;&nbsp;6.9% |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11227125 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14048336 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Blue Chip Growth Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |  |  |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70861 | $&nbsp;&nbsp;&nbsp;&nbsp;17449521 | &nbsp;&nbsp;&nbsp;1.2% |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32673 | &nbsp;&nbsp;&nbsp;&nbsp;10467776 | &nbsp;&nbsp;&nbsp;0.7% |
| NIKE, Inc., Class B | &nbsp;&nbsp;118534 | &nbsp;&nbsp;&nbsp;&nbsp;13869663 | &nbsp;&nbsp;&nbsp;1.0% |
| Ross Stores, Inc. | &nbsp;&nbsp;167712 | &nbsp;&nbsp;&nbsp;&nbsp;19466332 | &nbsp;&nbsp;&nbsp;1.4% |
| Tesla, Inc. (A) | &nbsp;&nbsp;138152 | &nbsp;&nbsp;&nbsp;&nbsp;17017563 | &nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6259135 | &nbsp;&nbsp;&nbsp;0.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;207334155 |  |
| **Financials - 5.2%** | **Financials - 5.2%** |  |  |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78183 | &nbsp;&nbsp;&nbsp;&nbsp;17247170 | &nbsp;&nbsp;&nbsp;1.2% |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64515 | &nbsp;&nbsp;&nbsp;&nbsp;10675942 | &nbsp;&nbsp;&nbsp;0.8% |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30631 | &nbsp;&nbsp;&nbsp;&nbsp;10259547 | &nbsp;&nbsp;&nbsp;0.7% |
| The Charles Schwab Corp. | &nbsp;&nbsp;167055 | &nbsp;&nbsp;&nbsp;&nbsp;13908999 | &nbsp;&nbsp;&nbsp;1.0% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54052 | &nbsp;&nbsp;&nbsp;&nbsp;18560376 | &nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2826373 | &nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;73478407 |  |
| **Health care - 16.7%** | **Health care - 16.7%** |  |  |
| AstraZeneca PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;89438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6063896 | &nbsp;&nbsp;&nbsp;0.4% |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;91046 | &nbsp;&nbsp;&nbsp;&nbsp;24165429 | &nbsp;&nbsp;&nbsp;1.7% |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9876211 | &nbsp;&nbsp;&nbsp;0.7% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;97478 | &nbsp;&nbsp;&nbsp;&nbsp;35661352 | &nbsp;&nbsp;&nbsp;2.5% |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32051 | &nbsp;&nbsp;&nbsp;&nbsp;16416202 | &nbsp;&nbsp;&nbsp;1.1% |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;100400 | &nbsp;&nbsp;&nbsp;&nbsp;26641140 | &nbsp;&nbsp;&nbsp;1.9% |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49242 | &nbsp;&nbsp;&nbsp;&nbsp;12039177 | &nbsp;&nbsp;&nbsp;0.8% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29973 | &nbsp;&nbsp;&nbsp;&nbsp;16505831 | &nbsp;&nbsp;&nbsp;1.2% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;138723 | &nbsp;&nbsp;&nbsp;&nbsp;73548160 | &nbsp;&nbsp;&nbsp;5.2% |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361174 | &nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7870536 | &nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;238149108 |  |
| **Industrials - 1.1%** | **Industrials - 1.1%** |  |  |
| General Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;68986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5780337 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;10475562 | &nbsp;&nbsp;&nbsp;0.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16255899 |  |
| **Information technology - 47.6%** | **Information technology - 47.6%** |  |  |
| Advanced Micro Devices, Inc. (A) | &nbsp;&nbsp;199522 | &nbsp;&nbsp;&nbsp;&nbsp;12923040 | &nbsp;&nbsp;&nbsp;0.9% |
| Apple, Inc. | 1082197 | &nbsp;&nbsp;&nbsp;&nbsp;140609856 | &nbsp;&nbsp;&nbsp;9.9% |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;&nbsp;37949 | &nbsp;&nbsp;&nbsp;&nbsp;20735334 | &nbsp;&nbsp;&nbsp;1.5% |
| Atlassian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;44970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5786740 | &nbsp;&nbsp;&nbsp;0.4% |
| Bill.com Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5710485 | &nbsp;&nbsp;&nbsp;0.4% |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64379 | &nbsp;&nbsp;&nbsp;&nbsp;25057594 | &nbsp;&nbsp;&nbsp;1.8% |
| Mastercard, Inc., Class A | &nbsp;&nbsp;130457 | &nbsp;&nbsp;&nbsp;&nbsp;45363813 | &nbsp;&nbsp;&nbsp;3.2% |
| Microsoft Corp. | &nbsp;&nbsp;791901 | &nbsp;&nbsp;&nbsp;&nbsp;189913698 | 13.3% |
| MongoDB, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6495523 | &nbsp;&nbsp;&nbsp;0.5% |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8180060 | &nbsp;&nbsp;&nbsp;0.6% |
| NVIDIA Corp. | &nbsp;&nbsp;272436 | &nbsp;&nbsp;&nbsp;&nbsp;39813797 | &nbsp;&nbsp;&nbsp;2.8% |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29024 | &nbsp;&nbsp;&nbsp;&nbsp;12540980 | &nbsp;&nbsp;&nbsp;0.9% |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;87372 | &nbsp;&nbsp;&nbsp;&nbsp;33923926 | &nbsp;&nbsp;&nbsp;2.4% |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;185373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6434297 | &nbsp;&nbsp;&nbsp;0.4% |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;55384 | &nbsp;&nbsp;&nbsp;&nbsp;17683557 | &nbsp;&nbsp;&nbsp;1.2% |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62715 | &nbsp;&nbsp;&nbsp;&nbsp;10361772 | &nbsp;&nbsp;&nbsp;0.7% |
| Visa, Inc., Class A | &nbsp;&nbsp;263005 | &nbsp;&nbsp;&nbsp;&nbsp;54641919 | &nbsp;&nbsp;&nbsp;3.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;42368411 | &nbsp;&nbsp;&nbsp;2.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;678544802 |  |
| **Materials - 1.3%** | **Materials - 1.3%** |  |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;28356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9249160 | &nbsp;&nbsp;&nbsp;0.7% |
| The Sherwin-Williams Company | &nbsp;&nbsp;&nbsp;&nbsp;37999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9018303 | &nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18267463 |  |
| TOTAL COMMON STOCKS (Cost $1,264,575,788) | TOTAL COMMON STOCKS (Cost $1,264,575,788) | $1415380637 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS - 0.1%** | **CORPORATE BONDS - 0.1%** |  |  |
| **Consumer discretionary - 0.1%** | **Consumer discretionary - 0.1%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816100 | &nbsp;&nbsp;&nbsp;0.1% |
| TOTAL CORPORATE BONDS (Cost $3,865,000) | TOTAL CORPORATE BONDS (Cost $3,865,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816100 |  |
| **SHORT-TERM INVESTMENTS - 1.2%** | **SHORT-TERM INVESTMENTS - 1.2%** |  |  |
| **Short-term funds - 1.2%** | **Short-term funds - 1.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;116993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169436 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| T. Rowe Price Government Reserve Fund, 4.2602% (B) | 15506402 | &nbsp;&nbsp;&nbsp;&nbsp;15506402 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706520 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17382358 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $17,382,093) | TOTAL SHORT-TERM INVESTMENTS (Cost $17,382,093) | $&nbsp;&nbsp;&nbsp;&nbsp;17382358 |  |
| **Total Investments (Blue Chip Growth Trust) (Cost $1,285,822,881) - 100.7%** | **Total Investments (Blue Chip Growth Trust) (Cost $1,285,822,881) - 100.7%** | $**1434579095** | **100.7%** |
| **Other assets and liabilities, net - (0.7)%** | **Other assets and liabilities, net - (0.7)%** | &nbsp;&nbsp;&nbsp;&nbsp;**(10165091)** | &nbsp;&nbsp;**(0.7)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**1424414004** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Capital Appreciation Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 98.7%** | **COMMON STOCKS - 98.7%** |  |  |
| **Communication services - 10.8%** | **Communication services - 10.8%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135188 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11927637 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11946341 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057363 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| The Trade Desk, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999261 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5626180 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5352594 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44909376 |  |
| **Consumer discretionary - 24.2%** | **Consumer discretionary - 24.2%** |  |  |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3404867 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20121191 | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105203 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7458446 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12596355 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5279788 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792724 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| MercadoLibre, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076003 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669050 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267591 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12321203 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| The Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7635284 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| The TJX Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6866535 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745409 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100339649 |  |
| **Consumer staples - 3.7%** | **Consumer staples - 3.7%** |  |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9656801 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Consumer staples (continued)** | **Consumer staples (continued)** |  |  |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;23635 | $&nbsp;&nbsp;&nbsp;&nbsp;5864080 | 1.4% |
|  |  | &nbsp;&nbsp;&nbsp;15520881 |  |
| **Energy - 2.3%** | **Energy - 2.3%** |  |  |
| Schlumberger, Ltd. | 174675 | &nbsp;&nbsp;&nbsp;&nbsp;9338126 | 2.3% |
| **Financials - 3.6%** | **Financials - 3.6%** |  |  |
| KKR & Company, Inc. | &nbsp;&nbsp;47940 | &nbsp;&nbsp;&nbsp;&nbsp;2225375 | 0.5% |
| S&P Global, Inc. | &nbsp;&nbsp;19122 | &nbsp;&nbsp;&nbsp;&nbsp;6404723 | 1.6% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;17789 | &nbsp;&nbsp;&nbsp;&nbsp;6108387 | 1.5% |
|  |  | &nbsp;&nbsp;&nbsp;14738485 |  |
| **Health care - 15.2%** | **Health care - 15.2%** |  |  |
| Abbott Laboratories | &nbsp;&nbsp;22170 | &nbsp;&nbsp;&nbsp;&nbsp;2434044 | 0.6% |
| Danaher Corp. | &nbsp;&nbsp;25719 | &nbsp;&nbsp;&nbsp;&nbsp;6826337 | 1.6% |
| DexCom, Inc. (A) | &nbsp;&nbsp;40681 | &nbsp;&nbsp;&nbsp;&nbsp;4606716 | 1.1% |
| Eli Lilly & Company | &nbsp;&nbsp;44240 | &nbsp;&nbsp;&nbsp;16184762 | 3.9% |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;21754 | &nbsp;&nbsp;&nbsp;&nbsp;5772424 | 1.4% |
| Novo Nordisk A/S, ADR | &nbsp;&nbsp;57318 | &nbsp;&nbsp;&nbsp;&nbsp;7757418 | 1.9% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;3759 | &nbsp;&nbsp;&nbsp;&nbsp;2070044 | 0.5% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;21041 | &nbsp;&nbsp;&nbsp;11155517 | 2.7% |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21792 | &nbsp;&nbsp;&nbsp;&nbsp;6293094 | 1.5% |
|  |  | &nbsp;&nbsp;&nbsp;63100356 |  |
| **Industrials - 2.4%** | **Industrials - 2.4%** |  |  |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;6168 | &nbsp;&nbsp;&nbsp;&nbsp;3365322 | 0.8% |
| Uber Technologies, Inc. (A) | 269884 | &nbsp;&nbsp;&nbsp;&nbsp;6674231 | 1.6% |
|  |  | &nbsp;&nbsp;&nbsp;10039553 |  |
| **Information technology - 34.8%** | **Information technology - 34.8%** |  |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;19476 | &nbsp;&nbsp;&nbsp;&nbsp;6554258 | 1.6% |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;5235087 | 1.3% |
| Apple, Inc. | 201733 | &nbsp;&nbsp;&nbsp;26211169 | 6.3% |
| ASML Holding NV, NYRS | &nbsp;&nbsp;10456 | &nbsp;&nbsp;&nbsp;&nbsp;5713158 | 1.4% |
| Atlassian Corp., Class A (A) | &nbsp;&nbsp;28331 | &nbsp;&nbsp;&nbsp;&nbsp;3645633 | 0.9% |
| Broadcom, Inc. | &nbsp;&nbsp;17507 | &nbsp;&nbsp;&nbsp;&nbsp;9788689 | 2.4% |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;28467 | &nbsp;&nbsp;&nbsp;&nbsp;2997290 | 0.7% |
| Mastercard, Inc., Class A | &nbsp;&nbsp;37960 | &nbsp;&nbsp;&nbsp;13199831 | 3.2% |
| Microsoft Corp. | 107348 | &nbsp;&nbsp;&nbsp;25744197 | 6.2% |
| NVIDIA Corp. | 130662 | &nbsp;&nbsp;&nbsp;19094945 | 4.6% |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;33009 | &nbsp;&nbsp;&nbsp;&nbsp;4376663 | 1.0% |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;34829 | &nbsp;&nbsp;&nbsp;&nbsp;4999355 | 1.2% |
| Visa, Inc., Class A | &nbsp;&nbsp;74404 | &nbsp;&nbsp;&nbsp;15458175 | 3.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1394763 | 0.3% |
|  |  | 144413213 |  |
| **Real estate - 1.7%** | **Real estate - 1.7%** |  |  |
| American Tower Corp. | &nbsp;&nbsp;32660 | &nbsp;&nbsp;&nbsp;&nbsp;6919348 | 1.7% |
| TOTAL COMMON STOCKS (Cost $418,094,992) | TOTAL COMMON STOCKS (Cost $418,094,992) | $409318987 |  |
| **PREFERRED SECURITIES - 0.6%** | **PREFERRED SECURITIES - 0.6%** |  |  |
| **Consumer discretionary - 0.6%** | **Consumer discretionary - 0.6%** |  |  |
| Dr. Ing. h.c. F. Porsche AG (A)(C) | &nbsp;&nbsp;27003 | &nbsp;&nbsp;&nbsp;&nbsp;2724967 | 0.6% |
| TOTAL PREFERRED SECURITIES (Cost $2,175,730) | TOTAL PREFERRED SECURITIES (Cost $2,175,730) | $&nbsp;&nbsp;&nbsp;&nbsp;2724967 |  |
| **SHORT-TERM INVESTMENTS - 1.3%** | **SHORT-TERM INVESTMENTS - 1.3%** |  |  |
| **Short-term funds - 1.3%** | **Short-term funds - 1.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 285111 | &nbsp;&nbsp;&nbsp;&nbsp;2849917 | 0.7% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |  |
| **Short-term funds (continued)** | **Short-term funds (continued)** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (D) | 2343005 | $&nbsp;&nbsp;&nbsp;&nbsp;2343005 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5192922 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,192,950) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,192,950) | $&nbsp;&nbsp;&nbsp;&nbsp;5192922 |  |
| **Total Investments (Capital Appreciation Trust) (Cost $425,463,672) - 100.6%** | **Total Investments (Capital Appreciation Trust) (Cost $425,463,672) - 100.6%** | $**417236876** | **100.6%** |
| **Other assets and liabilities, net - (0.6)%** | **Other assets and liabilities, net - (0.6)%** | &nbsp;&nbsp;&nbsp;**(2438618)** | &nbsp;&nbsp;**(0.6)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**414798258** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Capital Appreciation Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 62.0%** | **COMMON STOCKS - 62.0%** |  |  |
| **Communication services - 1.9%** | **Communication services - 1.9%** |  |  |
| Alphabet, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68540 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047284 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954780 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002064 |  |
| **Consumer discretionary - 5.1%** | **Consumer discretionary - 5.1%** |  |  |
| Amazon.com, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8762124 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| Yum! Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8346461 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4202958 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21311543 |  |
| **Consumer staples - 0.3%** | **Consumer staples - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439773 | &nbsp;&nbsp;&nbsp;0.3% |
| **Energy - 1.7%** | **Energy - 1.7%** |  |  |
| EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870705 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076844 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947549 |  |
| **Financials - 6.8%** | **Financials - 6.8%** |  |  |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7852854 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492826 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124593 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563786 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12096309 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444596 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28574964 |  |
| **Health care - 14.6%** | **Health care - 14.6%** |  |  |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101296 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Alcon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375419 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Avantor, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4987469 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| Becton, Dickinson and Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20987 | $&nbsp;&nbsp;&nbsp;&nbsp;5336994 | 1.3% |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25124 | &nbsp;&nbsp;&nbsp;&nbsp;6668412 | 1.6% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;2597464 | 0.6% |
| PerkinElmer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54075 | &nbsp;&nbsp;&nbsp;&nbsp;7582397 | 1.8% |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19052 | &nbsp;&nbsp;&nbsp;&nbsp;4755951 | 1.1% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14361 | &nbsp;&nbsp;&nbsp;&nbsp;7908459 | 1.9% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15654 | &nbsp;&nbsp;&nbsp;&nbsp;8299438 | 2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;5727631 | 1.3% |
|  |  | &nbsp;&nbsp;&nbsp;61340930 |  |
| **Industrials - 9.2%** | **Industrials - 9.2%** |  |  |
| Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28886 | &nbsp;&nbsp;&nbsp;&nbsp;5614283 | 1.3% |
| Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;126378 | &nbsp;&nbsp;&nbsp;&nbsp;8119787 | 1.9% |
| General Electric Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85497 | &nbsp;&nbsp;&nbsp;&nbsp;7163794 | 1.7% |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;124057 | &nbsp;&nbsp;&nbsp;&nbsp;6481978 | 1.6% |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94400 | &nbsp;&nbsp;&nbsp;&nbsp;5357200 | 1.3% |
| Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41331 | &nbsp;&nbsp;&nbsp;&nbsp;5478837 | 1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380475 | 0.1% |
|  |  | &nbsp;&nbsp;&nbsp;38596354 |  |
| **Information technology - 18.1%** | **Information technology - 18.1%** |  |  |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79412 | &nbsp;&nbsp;&nbsp;10318001 | 2.5% |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;3129570 | 0.7% |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91796 | &nbsp;&nbsp;&nbsp;22014509 | 5.2% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp;2557450 | 0.6% |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47551 | &nbsp;&nbsp;&nbsp;&nbsp;7514485 | 1.8% |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11923 | &nbsp;&nbsp;&nbsp;&nbsp;5151809 | 1.2% |
| salesforce.com, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27757 | &nbsp;&nbsp;&nbsp;&nbsp;3680301 | 0.9% |
| TE Connectivity, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53363 | &nbsp;&nbsp;&nbsp;&nbsp;6126072 | 1.5% |
| Teledyne Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12195 | &nbsp;&nbsp;&nbsp;&nbsp;4876902 | 1.2% |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36035 | &nbsp;&nbsp;&nbsp;&nbsp;5953703 | 1.4% |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;2659328 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;2184283 | 0.5% |
|  |  | &nbsp;&nbsp;&nbsp;76166413 |  |
| **Materials - 1.0%** | **Materials - 1.0%** |  |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12551 | &nbsp;&nbsp;&nbsp;&nbsp;4093885 | 1.0% |
| **Utilities - 3.3%** | **Utilities - 3.3%** |  |  |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69291 | &nbsp;&nbsp;&nbsp;&nbsp;6161356 | 1.5% |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56390 | &nbsp;&nbsp;&nbsp;&nbsp;2437740 | 0.6% |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48200 | &nbsp;&nbsp;&nbsp;&nbsp;3379302 | 0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1666544 | 0.4% |
|  |  | &nbsp;&nbsp;&nbsp;13644942 |  |
| TOTAL COMMON STOCKS (Cost $271,364,760) | TOTAL COMMON STOCKS (Cost $271,364,760) | $260118417 |  |
| **PREFERRED SECURITIES - 0.4%** | **PREFERRED SECURITIES - 0.4%** |  |  |
| **Financials - 0.0%** | **Financials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23590 | 0.0% |
| **Utilities - 0.4%** | **Utilities - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;1572636 | 0.4% |
| TOTAL PREFERRED SECURITIES (Cost $1,865,875) | TOTAL PREFERRED SECURITIES (Cost $1,865,875) | $&nbsp;&nbsp;&nbsp;&nbsp;1596226 |  |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 9.4%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 9.4%** |  |  |
| **U.S. Treasury Notes - 9.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | $43341000 | &nbsp;&nbsp;&nbsp;39467398 | 9.4% |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $39,470,980) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $39,470,980) | $&nbsp;&nbsp;&nbsp;39467398 |  |
| **CORPORATE BONDS - 6.7%** | **CORPORATE BONDS - 6.7%** |  |  |
| **Communication services - 1.5%** | **Communication services - 1.5%** |  |  |
| CCO Holdings LLC<br> 5.000%, 02/01/2028 (C) | &nbsp;&nbsp;2595000 | &nbsp;&nbsp;&nbsp;&nbsp;2356234 | 0.6% |
| CCO Holdings LLC<br> 5.125%, 05/01/2027 (C) | &nbsp;&nbsp;2681000 | &nbsp;&nbsp;&nbsp;&nbsp;2498880 | 0.6% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Communication services (continued)** | **Communication services (continued)** |  |  |
| CCO Holdings LLC<br> 5.500%, 05/01/2026 (C) | &nbsp;&nbsp;125000 | $&nbsp;&nbsp;&nbsp;&nbsp;121013 | 0.0% |
| OTHER SECURITIES |  | 1347618 | 0.3% |
|  |  | 6323745 |  |
| **Consumer discretionary - 1.9%** | **Consumer discretionary - 1.9%** |  |  |
| Yum! Brands, Inc.<br> 4.750%, 01/15/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 | 0.0% |
| Yum! Brands, Inc.<br> 5.350%, 11/01/2043 | &nbsp;&nbsp;579000 | &nbsp;&nbsp;&nbsp;&nbsp;476228 | 0.1% |
| Yum! Brands, Inc.<br> 5.375%, 04/01/2032 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;244530 | 0.1% |
| Yum! Brands, Inc.<br> 6.875%, 11/15/2037 | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;372193 | 0.1% |
| OTHER SECURITIES |  | 7063095 | 1.6% |
|  |  | 8157881 |  |
| **Financials - 1.7%** | **Financials - 1.7%** |  |  |
| Alliant Holdings Intermediate LLC<br> 4.250%, 10/15/2027 (C) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;67172 | 0.0% |
| Alliant Holdings Intermediate LLC<br> 5.875%, 11/01/2029 (C) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;61680 | 0.0% |
| Alliant Holdings Intermediate LLC<br> 6.750%, 10/15/2027 (C) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;164491 | 0.1% |
| HUB International, Ltd.<br> 5.625%, 12/01/2029 (C) | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;144108 | 0.0% |
| HUB International, Ltd.<br> 7.000%, 05/01/2026 (C) | 1805000 | 1767077 | 0.4% |
| Intercontinental Exchange, Inc.<br> 4.000%, 09/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;57001 | 0.0% |
| Intercontinental Exchange, Inc.<br> 4.350%, 06/15/2029 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;191434 | 0.1% |
| Intercontinental Exchange, Inc.<br> 5.200%, 06/15/2062 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;678360 | 0.2% |
| MSCI, Inc.<br> 3.250%, 08/15/2033 (C) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;123561 | 0.0% |
| MSCI, Inc.<br> 3.625%, 09/01/2030 (C) | &nbsp;&nbsp;898000 | &nbsp;&nbsp;&nbsp;&nbsp;746463 | 0.2% |
| MSCI, Inc.<br> 3.625%, 11/01/2031 (C) | &nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;558212 | 0.1% |
| MSCI, Inc.<br> 3.875%, 02/15/2031 (C) | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;388275 | 0.1% |
| MSCI, Inc.<br> 4.000%, 11/15/2029 (C) | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;295281 | 0.1% |
| State Street Corp.<br> 8.366%, (3 month LIBOR + 3.597%), 03/15/2023 (D)(E) | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;144605 | 0.0% |
| USI, Inc.<br> 6.875%, 05/01/2025 (C) | &nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;769712 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;826580 | 0.2% |
|  |  | 6984012 |  |
| **Health care - 0.3%** | **Health care - 0.3%** |  |  |
| Teleflex, Inc.<br> 4.625%, 11/15/2027 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;271631 | 0.1% |
| OTHER SECURITIES |  | 1006699 | 0.2% |
|  |  | 1278330 |  |
| **Industrials - 1.1%** | **Industrials - 1.1%** |  |  |
| General Electric Company<br> 8.099%, (3 month LIBOR + 3.330%), 03/15/2023 (D)(E) | 1910000 | 1876465 | 0.5% |
| Mileage Plus Holdings LLC<br> 6.500%, 06/20/2027 (C) | &nbsp;&nbsp;252016 | &nbsp;&nbsp;&nbsp;&nbsp;250555 | 0.1% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Industrials (continued)** | **Industrials (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;2605037 | 0.5% |
|  |  | &nbsp;&nbsp;&nbsp;4732057 |  |
| **Information technology - 0.1%** | **Information technology - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;322560 | 0.1% |
| **Real estate - 0.0%** | **Real estate - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;176185 | 0.0% |
| **Utilities - 0.1%** | **Utilities - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;409368 | 0.1% |
| TOTAL CORPORATE BONDS (Cost $29,738,335) | TOTAL CORPORATE BONDS (Cost $29,738,335) | $28384138 |  |
| **CONVERTIBLE BONDS - 0.1%** | **CONVERTIBLE BONDS - 0.1%** |  |  |
| **Communication services - 0.1%** | **Communication services - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;330050 | 0.1% |
| TOTAL CONVERTIBLE BONDS (Cost $367,800) | TOTAL CONVERTIBLE BONDS (Cost $367,800) | $&nbsp;&nbsp;&nbsp;&nbsp;330050 |  |
| **TERM LOANS (F) - 12.6%** | **TERM LOANS (F) - 12.6%** |  |  |
| **Communication services - 0.1%** | **Communication services - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;465049 | 0.1% |
| **Consumer discretionary - 0.3%** | **Consumer discretionary - 0.3%** | &nbsp;&nbsp;&nbsp;1425510 | 0.3% |
| **Consumer staples - 0.3%** | **Consumer staples - 0.3%** | &nbsp;&nbsp;&nbsp;1217848 | 0.3% |
| **Financials - 4.5%** | **Financials - 4.5%** |  |  |
| Alliant Holdings Intermediate LLC, 2018 Term Loan B (1 month LIBOR + 3.250%)<br> 7.634%, 05/09/2025 | $&nbsp;&nbsp;893582 | &nbsp;&nbsp;&nbsp;&nbsp;880849 | 0.2% |
| Alliant Holdings Intermediate LLC, 2021 Term Loan B4 (1 month LIBOR + 3.500%)<br> 7.854%, 11/06/2027 | 1476030 | &nbsp;&nbsp;&nbsp;1440708 | 0.3% |
| Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%)<br> 7.634%, 05/09/2025 | &nbsp;&nbsp;458088 | &nbsp;&nbsp;&nbsp;&nbsp;451625 | 0.1% |
| HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 3.000%)<br> 7.327%, 04/25/2025 | 7056536 | &nbsp;&nbsp;&nbsp;6971293 | 1.7% |
| HUB International, Ltd., 2021 Term Loan B (3 month LIBOR + 3.250%)<br> 7.528%, 04/25/2025 | 4567402 | &nbsp;&nbsp;&nbsp;4520678 | 1.1% |
| HUB International, Ltd., 2022 Term Loan B (3 month SOFR + 4.000%)<br> 8.220%, 11/10/2029 | &nbsp;&nbsp;408055 | &nbsp;&nbsp;&nbsp;&nbsp;403183 | 0.1% |
| USI, Inc., 2019 Incremental Term Loan B (3 month LIBOR + 3.250%)<br> 7.980%, 12/02/2026 | &nbsp;&nbsp;813426 | &nbsp;&nbsp;&nbsp;&nbsp;806308 | 0.2% |
| USI, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.750%)<br> 8.330%, 11/22/2029 | 1507287 | &nbsp;&nbsp;&nbsp;1491144 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1889478 | 0.5% |
|  |  | 18855266 |  |
| **Health care - 1.8%** | **Health care - 1.8%** |  |  |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%)<br> 7.634%, 10/23/2028 | 2487833 | &nbsp;&nbsp;&nbsp;2360904 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;5208078 | 1.2% |
|  |  | &nbsp;&nbsp;&nbsp;7568982 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **TERM LOANS (continued)** | **TERM LOANS (continued)** |  |  |
| **Industrials - 2.0%** | **Industrials - 2.0%** |  |  |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%)<br> 9.996%, 06/21/2027 | $&nbsp;&nbsp;4867716 | $&nbsp;&nbsp;&nbsp;&nbsp;5000362 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3472360 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8472722 |  |
| **Information technology - 3.1%** | **Information technology - 3.1%** |  |  |
| UKG, Inc., 2021 2nd Lien Term Loan (1 month LIBOR + 5.250%)<br> 8.998%, 05/03/2027 | &nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265495 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| UKG, Inc., 2021 Term Loan (3 month LIBOR + 3.250%)<br> 6.998%, 05/04/2026 | &nbsp;&nbsp;5806252 | &nbsp;&nbsp;&nbsp;&nbsp;5515939 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7073397 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
|  |  | &nbsp;&nbsp;&nbsp;12854831 |  |
| **Materials - 0.5%** | **Materials - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;2019552 | &nbsp;&nbsp;&nbsp;0.5% |
| TOTAL TERM LOANS (Cost $54,303,832) | TOTAL TERM LOANS (Cost $54,303,832) | $&nbsp;&nbsp;&nbsp;52879760 |  |
| **ASSET BACKED SECURITIES - 0.3%** | **ASSET BACKED SECURITIES - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;1079795 | &nbsp;&nbsp;&nbsp;0.3% |
| TOTAL ASSET BACKED SECURITIES (Cost $1,170,390) | TOTAL ASSET BACKED SECURITIES (Cost $1,170,390) | $&nbsp;&nbsp;&nbsp;&nbsp;1079795 |  |
| **SHORT-TERM INVESTMENTS - 8.8%** | **SHORT-TERM INVESTMENTS - 8.8%** |  |  |
| **Short-term funds - 8.2%** | **Short-term funds - 8.2%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.2602% (G) | 34304081 | &nbsp;&nbsp;&nbsp;34304081 | &nbsp;&nbsp;&nbsp;&nbsp;8.2% |
| **Repurchase agreement - 0.6%** | **Repurchase agreement - 0.6%** |  |  |
| Repurchase Agreement with State Street Corp. dated 12-30-22 at 1.280% to be repurchased at $2,781,396 on 1-3-23, collateralized by $2,991,700 U.S. Treasury Notes, 2.750% due 7-31-27 (valued at $2,836,622) | $&nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $37,085,081) | TOTAL SHORT-TERM INVESTMENTS (Cost $37,085,081) | $&nbsp;&nbsp;&nbsp;37085081 |  |
| **Total Investments (Capital Appreciation Value Trust) (Cost $435,367,053) - 100.3%** | **Total Investments (Capital Appreciation Value Trust) (Cost $435,367,053) - 100.3%** | $**420940865** | **100.3%** |
| **Other assets and liabilities, net - (0.3)%** | **Other assets and liabilities, net - (0.3)%** | &nbsp;&nbsp;&nbsp;**(1252330)** | &nbsp;&nbsp;**(0.3)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**419688535** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Non-income producing security. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (G) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

#### DERIVATIVES

#### WRITTEN OPTIONS

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls** | **Calls** |  |  |  |  |  |  |  |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 160.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;$18097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 165.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 120.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;108 | &nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85221 | &nbsp;&nbsp;$(44236) |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 185.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 195.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 205.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 85.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12557) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 90.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2845) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 95.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(460) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| WFB | &nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34181) |
| WFB | &nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28510) |
| CITI | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 40.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 42.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 320.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 320.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 325.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 355.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 365.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 300.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54374) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls (continued)** | **Calls (continued)** |  |  |  |  |  |  |  |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 300.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;$67078 | &nbsp;&nbsp;$(51902) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 97.50 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9113) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 97.50 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9113) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5505) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5505) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1440) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1440) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46326) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38280) |
| JPM | &nbsp;&nbsp;TE Connectivity, Ltd. | &nbsp;&nbsp;USD | 120.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4324) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 195.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;USD | 640.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 540.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12810) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 560.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2129) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 580.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(434) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 580.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82010) |
| JPM | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 600.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70953) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39234) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39234) |
| CITI | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15500) |
| CITI | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12438) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;**$2178819** | &nbsp;&nbsp;**$(625087)** |

---

<u>Derivatives Currency Abbreviations</u> <br> USD U.S. Dollar

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| JPM | JPMorgan Chase Bank, N.A. |
| OTC | Over-the-counter |
| SFG | Susquehanna Financial Group, LLLP |
| WFB | Wells Fargo Bank, N.A. |

---

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Disciplined Value International Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.5%** | **COMMON STOCKS - 96.5%** |  |  |
| **Australia - 0.4%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069820 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| **Austria - 1.2%** |  |  |  |
| ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140921 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| **Belgium - 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105242 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| **Bermuda - 1.6%** |  |  |  |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098141 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |

---

#### Disciplined Value International Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Brazil - 0.5%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257656 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| **Canada - 7.2%** |  |  |  |
| Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10154306 | &nbsp;&nbsp;&nbsp;&nbsp;3.9% |
| MEG Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011771 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980425 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3486404 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18632906 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Disciplined Value International Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **China - 1.9%** |  |  |  |
| Alibaba Group Holding, Ltd. (A) | 444200 | $&nbsp;&nbsp;&nbsp;4874168 | 1.9% |
| **Denmark - 0.7%** |  | &nbsp;&nbsp;&nbsp;1743937 | 0.7% |
| **Finland - 3.5%** |  |  |  |
| Nordea Bank ABP | 288532 | &nbsp;&nbsp;&nbsp;3090742 | 1.2% |
| Sampo OYJ, A Shares | &nbsp;&nbsp;93647 | &nbsp;&nbsp;&nbsp;4891119 | 1.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;998955 | 0.4% |
|  |  | &nbsp;&nbsp;&nbsp;8980816 |  |
| **France - 8.5%** |  |  |  |
| Airbus SE | &nbsp;&nbsp;19503 | &nbsp;&nbsp;&nbsp;2318947 | 0.9% |
| Imerys SA | &nbsp;&nbsp;55954 | &nbsp;&nbsp;&nbsp;2179909 | 0.8% |
| Rexel SA (A) | 123772 | &nbsp;&nbsp;&nbsp;2448014 | 1.0% |
| Sanofi | &nbsp;&nbsp;50673 | &nbsp;&nbsp;&nbsp;4886206 | 1.9% |
| TotalEnergies SE | &nbsp;&nbsp;92692 | &nbsp;&nbsp;&nbsp;5818552 | 2.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4408813 | 1.6% |
|  |  | 22060441 |  |
| **Germany - 7.3%** |  |  |  |
| Allianz SE | &nbsp;&nbsp;10940 | &nbsp;&nbsp;&nbsp;2336314 | 0.9% |
| Daimler Truck Holding AG (A) | &nbsp;&nbsp;99171 | &nbsp;&nbsp;&nbsp;3048677 | 1.2% |
| Deutsche Telekom AG | 324655 | &nbsp;&nbsp;&nbsp;6459503 | 2.5% |
| Siemens AG | &nbsp;&nbsp;31214 | &nbsp;&nbsp;&nbsp;4302875 | 1.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;2871900 | 1.0% |
|  |  | 19019269 |  |
| **Greece - 0.7%** |  | &nbsp;&nbsp;&nbsp;1691528 | 0.7% |
| **India - 1.6%** |  |  |  |
| HDFC Bank, Ltd., ADR | &nbsp;&nbsp;59734 | &nbsp;&nbsp;&nbsp;4086403 | 1.6% |
| **Ireland - 2.7%** |  |  |  |
| CRH PLC | 129273 | &nbsp;&nbsp;&nbsp;5144413 | 2.0% |
| Flutter Entertainment PLC (London Stock Exchange) (A) | &nbsp;&nbsp;14575 | &nbsp;&nbsp;&nbsp;1973228 | 0.7% |
|  |  | &nbsp;&nbsp;&nbsp;7117641 |  |
| **Japan - 13.3%** |  |  |  |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;69200 | &nbsp;&nbsp;&nbsp;2154031 | 0.8% |
| Fuji Corp. (Aichi) | 149100 | &nbsp;&nbsp;&nbsp;2172374 | 0.8% |
| Honda Motor Company, Ltd. | &nbsp;&nbsp;94100 | &nbsp;&nbsp;&nbsp;2146328 | 0.8% |
| IHI Corp. | 143900 | &nbsp;&nbsp;&nbsp;4168551 | 1.6% |
| KDDI Corp. | 151800 | &nbsp;&nbsp;&nbsp;4603623 | 1.8% |
| Komatsu, Ltd. | 176500 | &nbsp;&nbsp;&nbsp;3814893 | 1.5% |
| Renesas Electronics Corp. (A) | 443400 | &nbsp;&nbsp;&nbsp;3918886 | 1.5% |
| Sony Group Corp. | &nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;2492447 | 1.0% |
| Subaru Corp. | 174200 | &nbsp;&nbsp;&nbsp;2637402 | 1.0% |
| Sumitomo Mitsui Financial Group, Inc. | 122200 | &nbsp;&nbsp;&nbsp;4916404 | 1.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1550812 | 0.6% |
|  |  | 34575751 |  |
| **Netherlands - 3.9%** |  |  |  |
| ING Groep NV | 305940 | &nbsp;&nbsp;&nbsp;3726692 | 1.4% |
| Stellantis NV | 309161 | &nbsp;&nbsp;&nbsp;4392366 | 1.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1922057 | 0.8% |
|  |  | 10041115 |  |
| **Norway - 0.9%** |  |  |  |
| Norsk Hydro ASA | 324853 | &nbsp;&nbsp;&nbsp;2427421 | 0.9% |
| **Singapore - 2.2%** |  |  |  |
| United Overseas Bank, Ltd. | 199100 | &nbsp;&nbsp;&nbsp;4560554 | 1.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1119730 | 0.4% |
|  |  | &nbsp;&nbsp;&nbsp;5680284 |  |
| **South Korea - 3.2%** |  | &nbsp;&nbsp;&nbsp;8167866 | 3.2% |
| **Spain - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;555132 | 0.2% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Sweden - 1.9%** |  |  |  |
| Svenska Handelsbanken AB, A Shares | &nbsp;&nbsp;483233 | $&nbsp;&nbsp;&nbsp;&nbsp;4865187 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| **Switzerland - 10.2%** |  |  |  |
| Glencore PLC | 1266924 | &nbsp;&nbsp;&nbsp;&nbsp;8448711 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;96932 | &nbsp;&nbsp;&nbsp;&nbsp;8772099 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| STMicroelectronics NV | &nbsp;&nbsp;110296 | &nbsp;&nbsp;&nbsp;&nbsp;3919471 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp;24153 | &nbsp;&nbsp;&nbsp;&nbsp;2258339 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| UBS Group AG | &nbsp;&nbsp;162976 | &nbsp;&nbsp;&nbsp;&nbsp;3029109 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;26427729 |  |
| **United Kingdom - 19.9%** |  |  |  |
| AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;56872 | &nbsp;&nbsp;&nbsp;&nbsp;7695922 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| BAE Systems PLC | &nbsp;&nbsp;892026 | &nbsp;&nbsp;&nbsp;&nbsp;9213250 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;126755 | &nbsp;&nbsp;&nbsp;&nbsp;7012087 | &nbsp;&nbsp;&nbsp;&nbsp;2.7% |
| IMI PLC | &nbsp;&nbsp;233403 | &nbsp;&nbsp;&nbsp;&nbsp;3645268 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Informa PLC | &nbsp;&nbsp;286032 | &nbsp;&nbsp;&nbsp;&nbsp;2133742 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Shell PLC | &nbsp;&nbsp;132575 | &nbsp;&nbsp;&nbsp;&nbsp;3737416 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| SSE PLC | &nbsp;&nbsp;148048 | &nbsp;&nbsp;&nbsp;&nbsp;3044909 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| WH Smith PLC (A) | &nbsp;&nbsp;119298 | &nbsp;&nbsp;&nbsp;&nbsp;2121780 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;12921005 | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
|  |  | &nbsp;&nbsp;&nbsp;51525379 |  |
| **United States - 2.6%** |  |  |  |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851 | &nbsp;&nbsp;&nbsp;&nbsp;3730283 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3057764 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6788047 |  |
| TOTAL COMMON STOCKS (Cost $244,143,772) | TOTAL COMMON STOCKS (Cost $244,143,772) | $249932800 |  |
| **SHORT-TERM INVESTMENTS - 2.3%** | **SHORT-TERM INVESTMENTS - 2.3%** |  |  |
| **Short-term funds - 2.3%** |  |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.0943% (B) | 5938441 | &nbsp;&nbsp;&nbsp;&nbsp;5938441 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,938,441) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,938,441) | $&nbsp;&nbsp;&nbsp;&nbsp;5938441 |  |
| **Total Investments (Disciplined Value International Trust)<br> (Cost $250,082,213) - 98.8%** | **Total Investments (Disciplined Value International Trust)<br> (Cost $250,082,213) - 98.8%** | $**255871241** | &nbsp;&nbsp;**98.8%** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**3213278** | &nbsp;&nbsp;&nbsp;**1.2%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**259084519** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

#### Emerging Markets Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.0%** | **COMMON STOCKS - 97.0%** |  |  |
| **Australia - 0.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46864 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Belgium - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32031 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Brazil - 2.4%** |  |  |  |
| Banco Bradesco SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222357 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1945830 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2843173 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5011360 |  |
| **Canada - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45437 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Chile - 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328436 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **China - 23.9%** |  |  |  |
| Alibaba Group Holding, Ltd. (A) | &nbsp;&nbsp;170600 | $&nbsp;&nbsp;&nbsp;1871979 | &nbsp;&nbsp;&nbsp;0.9% |
| Baidu, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;12433 | &nbsp;&nbsp;&nbsp;1422087 | &nbsp;&nbsp;&nbsp;0.7% |
| Baidu, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47773 | &nbsp;&nbsp;&nbsp;0.0% |
| Bank of China, Ltd., H Shares | 5445694 | &nbsp;&nbsp;&nbsp;1970957 | &nbsp;&nbsp;&nbsp;1.0% |
| China Construction Bank Corp., H Shares | 8153000 | &nbsp;&nbsp;&nbsp;5098809 | &nbsp;&nbsp;&nbsp;2.5% |
| China Merchants Bank Company, Ltd., H Shares | &nbsp;&nbsp;298500 | &nbsp;&nbsp;&nbsp;1651856 | &nbsp;&nbsp;&nbsp;0.8% |
| China Petroleum & Chemical Corp., H Shares | 1826000 | &nbsp;&nbsp;&nbsp;&nbsp;879789 | &nbsp;&nbsp;&nbsp;0.5% |
| China Shenhua Energy Company, Ltd., H Shares | &nbsp;&nbsp;288500 | &nbsp;&nbsp;&nbsp;&nbsp;831076 | &nbsp;&nbsp;&nbsp;0.4% |
| Industrial & Commercial Bank of China, Ltd., H Shares | 4266000 | &nbsp;&nbsp;&nbsp;2187987 | &nbsp;&nbsp;&nbsp;1.1% |
| PetroChina Company, Ltd., H Shares | 1912000 | &nbsp;&nbsp;&nbsp;&nbsp;873389 | &nbsp;&nbsp;&nbsp;0.5% |
| Ping An Insurance Group Company of China, Ltd., H Shares | &nbsp;&nbsp;416500 | &nbsp;&nbsp;&nbsp;2736299 | &nbsp;&nbsp;&nbsp;1.4% |
| Trip.com Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25867 | &nbsp;&nbsp;&nbsp;0.0% |
| Trip.com Group, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;29496 | &nbsp;&nbsp;&nbsp;1014662 | &nbsp;&nbsp;&nbsp;0.5% |
| Xiaomi Corp., Class B (A)(B) | &nbsp;&nbsp;566400 | &nbsp;&nbsp;&nbsp;&nbsp;786227 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | 27428337 | 13.2% |
|  |  | 48827094 |  |
| **Colombia - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;155229 | &nbsp;&nbsp;&nbsp;0.1% |
| **Cyprus - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21650 | &nbsp;&nbsp;&nbsp;0.0% |
| **Czech Republic - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;247748 | &nbsp;&nbsp;&nbsp;0.1% |
| **Greece - 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;739270 | &nbsp;&nbsp;&nbsp;0.4% |
| **Hong Kong - 4.3%** |  |  |  |
| China Overseas Land & Investment, Ltd. | &nbsp;&nbsp;282500 | &nbsp;&nbsp;&nbsp;&nbsp;739267 | &nbsp;&nbsp;&nbsp;0.4% |
| China Resources Land, Ltd. | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;1410304 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;6743851 | &nbsp;&nbsp;&nbsp;3.2% |
|  |  | &nbsp;&nbsp;&nbsp;8893422 |  |
| **Hungary - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;380417 | &nbsp;&nbsp;&nbsp;0.2% |
| **India - 16.8%** |  |  |  |
| Axis Bank, Ltd. | &nbsp;&nbsp;188618 | &nbsp;&nbsp;&nbsp;2125254 | &nbsp;&nbsp;&nbsp;1.1% |
| Axis Bank, Ltd., GDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17537 | &nbsp;&nbsp;&nbsp;0.0% |
| Hindalco Industries, Ltd. | &nbsp;&nbsp;148861 | &nbsp;&nbsp;&nbsp;&nbsp;851746 | &nbsp;&nbsp;&nbsp;0.4% |
| Housing Development Finance Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;59478 | &nbsp;&nbsp;&nbsp;1894017 | &nbsp;&nbsp;&nbsp;0.9% |
| ICICI Bank, Ltd. | &nbsp;&nbsp;196478 | &nbsp;&nbsp;&nbsp;2118255 | &nbsp;&nbsp;&nbsp;1.1% |
| ICICI Bank, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81803 | &nbsp;&nbsp;&nbsp;0.1% |
| JSW Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;79922 | &nbsp;&nbsp;&nbsp;&nbsp;743365 | &nbsp;&nbsp;&nbsp;0.4% |
| Larsen & Toubro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;52252 | &nbsp;&nbsp;&nbsp;1313539 | &nbsp;&nbsp;&nbsp;0.7% |
| Mahindra & Mahindra, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70868 | &nbsp;&nbsp;&nbsp;1068437 | &nbsp;&nbsp;&nbsp;0.5% |
| Reliance Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21228 | &nbsp;&nbsp;&nbsp;&nbsp;651661 | &nbsp;&nbsp;&nbsp;0.3% |
| Reliance Industries, Ltd., GDR (B) | &nbsp;&nbsp;&nbsp;&nbsp;87194 | &nbsp;&nbsp;&nbsp;5348814 | &nbsp;&nbsp;&nbsp;2.6% |
| State Bank of India | &nbsp;&nbsp;114368 | &nbsp;&nbsp;&nbsp;&nbsp;846507 | &nbsp;&nbsp;&nbsp;0.4% |
| Tata Steel, Ltd. | &nbsp;&nbsp;583100 | &nbsp;&nbsp;&nbsp;&nbsp;795597 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | 16564020 | &nbsp;&nbsp;&nbsp;7.9% |
|  |  | 34420552 |  |
| **Indonesia - 1.9%** |  | &nbsp;&nbsp;&nbsp;3908707 | &nbsp;&nbsp;&nbsp;1.9% |
| **Malaysia - 1.9%** |  | &nbsp;&nbsp;&nbsp;3814209 | &nbsp;&nbsp;&nbsp;1.9% |
| **Mexico - 2.4%** |  |  |  |
| Grupo Financiero Banorte SAB de CV, Series O | &nbsp;&nbsp;111883 | &nbsp;&nbsp;&nbsp;&nbsp;805197 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4123793 | &nbsp;&nbsp;&nbsp;2.0% |
|  |  | &nbsp;&nbsp;&nbsp;4928990 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Panama - 0.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;0.0% |
| **Philippines - 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1643129 | &nbsp;&nbsp;&nbsp;0.8% |
| **Poland - 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1576429 | &nbsp;&nbsp;&nbsp;0.8% |
| **Qatar - 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1669922 | &nbsp;&nbsp;&nbsp;0.8% |
| **Russia - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79066 | &nbsp;&nbsp;&nbsp;0.0% |
| **Saudi Arabia - 3.7%** |  |  |  |
| Saudi Basic Industries Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81336 | &nbsp;&nbsp;&nbsp;&nbsp;1945665 | &nbsp;&nbsp;&nbsp;1.0% |
| The Saudi National Bank | &nbsp;&nbsp;&nbsp;&nbsp;72308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973232 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;4554089 | &nbsp;&nbsp;&nbsp;2.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7472986 |  |
| **Singapore - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141493 | &nbsp;&nbsp;&nbsp;0.1% |
| **South Africa - 3.6%** |  |  |  |
| Absa Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;60222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683858 | &nbsp;&nbsp;&nbsp;0.3% |
| Impala Platinum Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;63155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793661 | &nbsp;&nbsp;&nbsp;0.4% |
| Standard Bank Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760236 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;5035585 | &nbsp;&nbsp;&nbsp;2.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7273340 |  |
| **South Korea - 12.0%** |  |  |  |
| Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723357 | &nbsp;&nbsp;&nbsp;0.4% |
| Hyundai Motor Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905873 | &nbsp;&nbsp;&nbsp;0.5% |
| KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21072 | &nbsp;&nbsp;&nbsp;0.0% |
| KB Financial Group, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;27405 | &nbsp;&nbsp;&nbsp;&nbsp;1059477 | &nbsp;&nbsp;&nbsp;0.5% |
| Kia Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976251 | &nbsp;&nbsp;&nbsp;0.5% |
| LG Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725173 | &nbsp;&nbsp;&nbsp;0.4% |
| POSCO Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6186 | &nbsp;&nbsp;&nbsp;&nbsp;1353818 | &nbsp;&nbsp;&nbsp;0.7% |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37990 | &nbsp;&nbsp;&nbsp;&nbsp;1667504 | &nbsp;&nbsp;&nbsp;0.8% |
| Shinhan Financial Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69432 | &nbsp;&nbsp;&nbsp;0.0% |
| Shinhan Financial Group Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;32928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919679 | &nbsp;&nbsp;&nbsp;0.5% |
| SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43190 | &nbsp;&nbsp;&nbsp;&nbsp;2576890 | &nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;13509695 | &nbsp;&nbsp;&nbsp;6.4% |
|  |  | &nbsp;&nbsp;&nbsp;24508221 |  |
| **Taiwan - 15.8%** |  |  |  |
| ASE Technology Holding Company, Ltd. | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777825 | &nbsp;&nbsp;&nbsp;0.4% |
| Cathay Financial Holding Company, Ltd. | &nbsp;&nbsp;693775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900830 | &nbsp;&nbsp;&nbsp;0.5% |
| China Steel Corp. | 1045180 | &nbsp;&nbsp;&nbsp;&nbsp;1012766 | &nbsp;&nbsp;&nbsp;0.5% |
| CTBC Financial Holding Company, Ltd. | 1395348 | &nbsp;&nbsp;&nbsp;&nbsp;1001280 | &nbsp;&nbsp;&nbsp;0.5% |
| Fubon Financial Holding Company, Ltd. | &nbsp;&nbsp;624805 | &nbsp;&nbsp;&nbsp;&nbsp;1142787 | &nbsp;&nbsp;&nbsp;0.6% |
| Hon Hai Precision Industry Company, Ltd. | &nbsp;&nbsp;658448 | &nbsp;&nbsp;&nbsp;&nbsp;2134183 | &nbsp;&nbsp;&nbsp;1.1% |
| Nan Ya Plastics Corp. | &nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770275 | &nbsp;&nbsp;&nbsp;0.4% |
| United Microelectronics Corp. (A) | &nbsp;&nbsp;790794 | &nbsp;&nbsp;&nbsp;&nbsp;1039012 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;23524695 | 11.3% |
|  |  | &nbsp;&nbsp;&nbsp;32303653 |  |
| **Thailand - 2.3%** |  |  |  |
| PTT PCL | &nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826205 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3926319 | &nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4752524 |  |
| **Turkey - 1.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1944477 | &nbsp;&nbsp;&nbsp;1.0% |
| **Ukraine - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;0.0% |
| **United Arab Emirates - 1.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;2313658 | &nbsp;&nbsp;&nbsp;1.1% |
| **United States - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61936 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $222,737,468) | TOTAL COMMON STOCKS (Cost $222,737,468) | $198544241 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PREFERRED SECURITIES - 1.8%** | **PREFERRED SECURITIES - 1.8%** |  |  |
| **Brazil - 1.8%** |  |  |  |
| Banco Bradesco SA | 251187 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716508 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Petroleo Brasileiro SA | 473639 | &nbsp;&nbsp;&nbsp;&nbsp;2197533 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630555 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3544596 |  |
| **Colombia - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56814 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Philippines - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10525 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Taiwan - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10644 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL PREFERRED SECURITIES (Cost $4,492,770) | TOTAL PREFERRED SECURITIES (Cost $4,492,770) | $&nbsp;&nbsp;&nbsp;&nbsp;3622579 |  |
| **RIGHTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6821 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6821 |  |
| **WARRANTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 |  |
| **Total Investments (Emerging Markets Value Trust)<br> (Cost $227,230,238) - 98.8%** | **Total Investments (Emerging Markets Value Trust)<br> (Cost $227,230,238) - 98.8%** | $**202175016** | &nbsp;&nbsp;**98.8%** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**2474437** | &nbsp;&nbsp;&nbsp;**1.2%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**204649453** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$1112078 | &nbsp;&nbsp;&nbsp;&nbsp;$1103080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8998) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5364) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(14362)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Equity Income Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.8%** | **COMMON STOCKS - 96.8%** |  |  |
| **Communication services - 5.1%** | **Communication services - 5.1%** |  |  |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375518 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13131864 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21334713 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15249699 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19903438 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69619714 |  |
| **Consumer discretionary - 4.3%** | **Consumer discretionary - 4.3%** |  |  |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13640439 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Volkswagen AG, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13461009 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32202034 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59303482 |  |
| **Consumer staples - 7.0%** | **Consumer staples - 7.0%** |  |  |
| Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22109774 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21287365 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23820178 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12648661 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16357927 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96223905 |  |
| **Energy - 8.6%** | **Energy - 8.6%** |  |  |
| EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15383220 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |

---

#### Equity Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Energy (continued)** | **Energy (continued)** |  |  |
| Exxon Mobil Corp. | &nbsp;&nbsp;194220 | $&nbsp;&nbsp;&nbsp;21422466 | 1.6% |
| Hess Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85930 | &nbsp;&nbsp;&nbsp;12186593 | 0.9% |
| TC Energy Corp. (B) | &nbsp;&nbsp;390371 | &nbsp;&nbsp;&nbsp;15560188 | 1.1% |
| TotalEnergies SE (B) | &nbsp;&nbsp;539956 | &nbsp;&nbsp;&nbsp;33894731 | 2.5% |
| TotalEnergies SE, ADR | &nbsp;&nbsp;160573 | &nbsp;&nbsp;&nbsp;&nbsp;9968372 | 0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;9899052 | 0.7% |
|  |  | 118314622 |  |
| **Financials - 21.0%** | **Financials - 21.0%** |  |  |
| American International Group, Inc. | &nbsp;&nbsp;540580 | &nbsp;&nbsp;&nbsp;34186279 | 2.5% |
| Chubb, Ltd. | &nbsp;&nbsp;123281 | &nbsp;&nbsp;&nbsp;27195789 | 2.0% |
| Equitable Holdings, Inc. | &nbsp;&nbsp;751596 | &nbsp;&nbsp;&nbsp;21570805 | 1.6% |
| Fifth Third Bancorp | &nbsp;&nbsp;428350 | &nbsp;&nbsp;&nbsp;14054164 | 1.0% |
| Huntington Bancshares, Inc. | 1282556 | &nbsp;&nbsp;&nbsp;18084040 | 1.3% |
| Loews Corp. | &nbsp;&nbsp;237946 | &nbsp;&nbsp;&nbsp;13879390 | 1.0% |
| MetLife, Inc. | &nbsp;&nbsp;295457 | &nbsp;&nbsp;&nbsp;21382223 | 1.6% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48135 | &nbsp;&nbsp;&nbsp;16528596 | 1.2% |
| The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;173723 | &nbsp;&nbsp;&nbsp;13173415 | 1.0% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Equity Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| Wells Fargo & Company | 1010985 | $&nbsp;&nbsp;&nbsp;&nbsp;41743574 | 3.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;67026745 | 4.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;288825020 |  |
| **Health care - 17.3%** | **Health care - 17.3%** |  |  |
| AbbVie, Inc. | &nbsp;&nbsp;126909 | &nbsp;&nbsp;&nbsp;&nbsp;20509763 | 1.5% |
| Becton, Dickinson and Company | &nbsp;&nbsp;&nbsp;&nbsp;87365 | &nbsp;&nbsp;&nbsp;&nbsp;22216920 | 1.6% |
| Cigna Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49348 | &nbsp;&nbsp;&nbsp;&nbsp;16350966 | 1.2% |
| CVS Health Corp. | &nbsp;&nbsp;160391 | &nbsp;&nbsp;&nbsp;&nbsp;14946837 | 1.1% |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62060 | &nbsp;&nbsp;&nbsp;&nbsp;31834918 | 2.3% |
| Johnson & Johnson | &nbsp;&nbsp;155257 | &nbsp;&nbsp;&nbsp;&nbsp;27426149 | 2.0% |
| Medtronic PLC | &nbsp;&nbsp;156088 | &nbsp;&nbsp;&nbsp;&nbsp;12131159 | 0.9% |
| Merck & Company, Inc. | &nbsp;&nbsp;116921 | &nbsp;&nbsp;&nbsp;&nbsp;12972385 | 1.0% |
| Pfizer, Inc. | &nbsp;&nbsp;359899 | &nbsp;&nbsp;&nbsp;&nbsp;18441225 | 1.3% |
| Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;92123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8883101 | 0.7% |
| Sanofi, ADR | &nbsp;&nbsp;&nbsp;&nbsp;97094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4702262 | 0.3% |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;122384 | &nbsp;&nbsp;&nbsp;&nbsp;15603960 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;31653513 | 2.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;237673158 |  |
| **Industrials - 10.8%** | **Industrials - 10.8%** |  |  |
| General Electric Company | &nbsp;&nbsp;484051 | &nbsp;&nbsp;&nbsp;&nbsp;40558633 | 2.9% |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;104090 | &nbsp;&nbsp;&nbsp;&nbsp;21672579 | 1.6% |
| Siemens AG, ADR | &nbsp;&nbsp;209910 | &nbsp;&nbsp;&nbsp;&nbsp;14439709 | 1.0% |
| The Boeing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;65034 | &nbsp;&nbsp;&nbsp;&nbsp;12388327 | 0.9% |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;155643 | &nbsp;&nbsp;&nbsp;&nbsp;27056979 | 2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;32562066 | 2.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;148678293 |  |
| **Information technology - 6.9%** | **Information technology - 6.9%** |  |  |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71043 | &nbsp;&nbsp;&nbsp;&nbsp;17037532 | 1.2% |
| Qualcomm, Inc. | &nbsp;&nbsp;259438 | &nbsp;&nbsp;&nbsp;&nbsp;28522614 | 2.1% |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84017 | &nbsp;&nbsp;&nbsp;&nbsp;13881289 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;35158530 | 2.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;94599965 |  |
| **Materials - 4.3%** | **Materials - 4.3%** |  |  |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;292884 | &nbsp;&nbsp;&nbsp;&nbsp;24953717 | 1.8% |
| International Paper Company | &nbsp;&nbsp;555197 | &nbsp;&nbsp;&nbsp;&nbsp;19226472 | 1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;14371559 | 1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;58551748 |  |
| **Real estate - 4.0%** | **Real estate - 4.0%** |  |  |
| Equity Residential | &nbsp;&nbsp;324132 | &nbsp;&nbsp;&nbsp;&nbsp;19123788 | 1.4% |
| Weyerhaeuser Company | &nbsp;&nbsp;682506 | &nbsp;&nbsp;&nbsp;&nbsp;21157686 | 1.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;13960469 | 1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;54241943 |  |
| **Utilities - 7.5%** | **Utilities - 7.5%** |  |  |
| Dominion Energy, Inc. | &nbsp;&nbsp;266597 | &nbsp;&nbsp;&nbsp;&nbsp;16347728 | 1.2% |
| Sempra Energy | &nbsp;&nbsp;180219 | &nbsp;&nbsp;&nbsp;&nbsp;27851044 | 2.0% |
| The Southern Company | &nbsp;&nbsp;576512 | &nbsp;&nbsp;&nbsp;&nbsp;41168722 | 3.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;17882970 | 1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;103250464 |  |
| TOTAL COMMON STOCKS (Cost $1,074,583,972) | TOTAL COMMON STOCKS (Cost $1,074,583,972) | $1329282314 |  |
| **PREFERRED SECURITIES - 1.9%** | **PREFERRED SECURITIES - 1.9%** |  |  |
| **Consumer discretionary - 0.7%** | **Consumer discretionary - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9279804 | 0.7% |
| **Health care - 0.4%** | **Health care - 0.4%** |  |  |
| Becton, Dickinson and Company, 6.000% | &nbsp;&nbsp;106565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336775 | 0.4% |
| **Utilities - 0.8%** | **Utilities - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;11781773 | 0.8% |
| TOTAL PREFERRED SECURITIES (Cost $25,500,825) | TOTAL PREFERRED SECURITIES (Cost $25,500,825) | $&nbsp;&nbsp;&nbsp;&nbsp;26398352 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS - 5.1%** | **SHORT-TERM INVESTMENTS - 5.1%** |  |  |
| **Short-term funds - 5.1%** | **Short-term funds - 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 5642825 | $&nbsp;&nbsp;&nbsp;&nbsp;56404547 | &nbsp;&nbsp;&nbsp;&nbsp;4.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;14089654 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;70494201 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $70,494,739) | TOTAL SHORT-TERM INVESTMENTS (Cost $70,494,739) | $&nbsp;&nbsp;&nbsp;&nbsp;70494201 |  |
| **Total Investments (Equity Income Trust) (Cost $1,170,579,536) - 103.8%** | **Total Investments (Equity Income Trust) (Cost $1,170,579,536) - 103.8%** | $**1426174867** | **103.8%** |
| **Other assets and liabilities, net - (3.8)%** | **Other assets and liabilities, net - (3.8)%** | &nbsp;&nbsp;&nbsp;&nbsp;**(52363962)** | &nbsp;&nbsp;**(3.8)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**1373810905** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Financial Industries Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.4%** | **COMMON STOCKS - 96.4%** |  |  |
| **Financials - 93.8%** | **Financials - 93.8%** |  |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21215 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126304 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| AllianceBernstein Holding LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746924 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| American Business Bank (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100351 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| American Express Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073228 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4588315 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3717758 | &nbsp;&nbsp;&nbsp;&nbsp;2.7% |
| Arch Capital Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373649 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3973103 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605371 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472036 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250098 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381710 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619781 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Cambridge Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663775 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4507299 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809323 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460907 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Corebridge Financial, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472937 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305427 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968560 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830258 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654068 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317500 | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468094 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| Markel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4163268 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4154834 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543038 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| Nicolet Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671680 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Onex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642280 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2039125 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Financial Industries Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| Popular, Inc. | &nbsp;&nbsp;31043 | $&nbsp;&nbsp;&nbsp;&nbsp;2058772 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Premier Financial Corp. | &nbsp;&nbsp;42996 | &nbsp;&nbsp;&nbsp;&nbsp;1159602 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Raymond James Financial, Inc. | &nbsp;&nbsp;28685 | &nbsp;&nbsp;&nbsp;&nbsp;3064992 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Regions Financial Corp. | 136082 | &nbsp;&nbsp;&nbsp;&nbsp;2933928 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;21997 | &nbsp;&nbsp;&nbsp;&nbsp;3125554 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;12355 | &nbsp;&nbsp;&nbsp;&nbsp;2276162 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;6315 | &nbsp;&nbsp;&nbsp;&nbsp;2115146 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;34048 | &nbsp;&nbsp;&nbsp;&nbsp;2212439 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp;1359855 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| The Allstate Corp. | &nbsp;&nbsp;18182 | &nbsp;&nbsp;&nbsp;&nbsp;2465479 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;3327 | &nbsp;&nbsp;&nbsp;&nbsp;1142425 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;31210 | &nbsp;&nbsp;&nbsp;&nbsp;2366654 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| TriCo Bancshares | &nbsp;&nbsp;46675 | &nbsp;&nbsp;&nbsp;&nbsp;2379958 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| U.S. Bancorp | &nbsp;&nbsp;36722 | &nbsp;&nbsp;&nbsp;&nbsp;1601446 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Unum Group | &nbsp;&nbsp;88641 | &nbsp;&nbsp;&nbsp;&nbsp;3636940 | &nbsp;&nbsp;&nbsp;&nbsp;2.7% |
| Webster Financial Corp. | &nbsp;&nbsp;33761 | &nbsp;&nbsp;&nbsp;&nbsp;1598246 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Wells Fargo & Company | &nbsp;&nbsp;98025 | &nbsp;&nbsp;&nbsp;&nbsp;4047458 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| Zions Bancorp NA | &nbsp;&nbsp;32328 | &nbsp;&nbsp;&nbsp;&nbsp;1589244 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;11264666 | &nbsp;&nbsp;&nbsp;&nbsp;8.3% |
|  |  | 128099967 |  |
| **Real estate - 2.6%** | **Real estate - 2.6%** |  |  |
| Prologis, Inc. | &nbsp;&nbsp;18203 | &nbsp;&nbsp;&nbsp;&nbsp;2052024 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;27542 | &nbsp;&nbsp;&nbsp;&nbsp;1504895 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3556919 |  |
| TOTAL COMMON STOCKS (Cost $125,753,549) | TOTAL COMMON STOCKS (Cost $125,753,549) | $131656886 |  |
| **CORPORATE BONDS - 0.9%** | **CORPORATE BONDS - 0.9%** |  |  |
| **Financials - 0.9%** | **Financials - 0.9%** | &nbsp;&nbsp;&nbsp;&nbsp;1300650 | &nbsp;&nbsp;&nbsp;0.9% |
| TOTAL CORPORATE BONDS (Cost $1,256,308) | TOTAL CORPORATE BONDS (Cost $1,256,308) | $&nbsp;&nbsp;&nbsp;&nbsp;1300650 |  |
| **CONVERTIBLE BONDS - 0.5%** | **CONVERTIBLE BONDS - 0.5%** |  |  |
| **Financials - 0.5%** | **Financials - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630494 | &nbsp;&nbsp;&nbsp;0.5% |
| TOTAL CONVERTIBLE BONDS (Cost $659,454) | TOTAL CONVERTIBLE BONDS (Cost $659,454) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630494 |  |
| **SHORT-TERM INVESTMENTS - 4.2%** | **SHORT-TERM INVESTMENTS - 4.2%** |  |  |
| **Short-term funds - 4.2%** | **Short-term funds - 4.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 568344 | &nbsp;&nbsp;&nbsp;&nbsp;5681050 | &nbsp;&nbsp;&nbsp;&nbsp;4.2% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,680,968) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,680,968) | $&nbsp;&nbsp;&nbsp;&nbsp;5681050 |  |
| **Total Investments (Financial Industries Trust) (Cost $133,350,279) - 102.0%** | **Total Investments (Financial Industries Trust) (Cost $133,350,279) - 102.0%** | $**139269080** | **102.0%** |
| **Other assets and liabilities, net - (2.0)%** | **Other assets and liabilities, net - (2.0)%** | &nbsp;&nbsp;&nbsp;**(2776657)** | &nbsp;&nbsp;**(2.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**136492423** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $1,996,792. |

---

#### Fundamental All Cap Core Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.5%** | **COMMON STOCKS - 97.5%** |  |  |
| **Communication services - 9.3%** | **Communication services - 9.3%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045463 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92241200 | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17646702 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61359985 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171247887 |  |
| **Consumer discretionary - 21.5%** | **Consumer discretionary - 21.5%** |  |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142601421 | &nbsp;&nbsp;&nbsp;&nbsp;7.7% |
| Canada Goose Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23098270 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Dufry AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33109999 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39938067 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73110154 | &nbsp;&nbsp;&nbsp;&nbsp;4.0% |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21462335 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45524841 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| Salvatore Ferragamo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17518001 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396363088 |  |
| **Consumer staples - 3.3%** | **Consumer staples - 3.3%** |  |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24262224 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18465595 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17747891 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60475710 |  |
| **Energy - 5.5%** | **Energy - 5.5%** |  |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65926765 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36054894 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101981659 |  |
| **Financials - 19.1%** | **Financials - 19.1%** |  |  |
| First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73761347 | &nbsp;&nbsp;&nbsp;&nbsp;4.0% |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70985371 | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72389344 | &nbsp;&nbsp;&nbsp;&nbsp;3.9% |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39864224 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10524138 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85245802 | &nbsp;&nbsp;&nbsp;&nbsp;4.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352770226 |  |
| **Health care - 5.5%** | **Health care - 5.5%** |  |  |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16528082 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13292195 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Hologic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15244707 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Moderna, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36944421 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19145839 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101155244 |  |
| **Industrials - 4.7%** | **Industrials - 4.7%** |  |  |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26188836 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15419350 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10080705 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| United Rentals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35833089 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87521980 |  |
| **Information technology - 25.0%** | **Information technology - 25.0%** |  |  |
| Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72226346 | &nbsp;&nbsp;&nbsp;&nbsp;3.9% |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73256483 | &nbsp;&nbsp;&nbsp;&nbsp;4.0% |
| Autodesk, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29547511 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19169670 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18888703 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42713653 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31927644 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33480062 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57151461 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Fundamental All Cap Core Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Information technology (continued)** | **Information technology (continued)** |  |  |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;493761 | $&nbsp;&nbsp;&nbsp;&nbsp;82621028 | &nbsp;&nbsp;&nbsp;&nbsp;4.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;460982561 |  |
| **Materials - 1.3%** | **Materials - 1.3%** |  |  |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;908814 | &nbsp;&nbsp;&nbsp;&nbsp;23147493 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| **Real estate - 2.3%** | **Real estate - 2.3%** |  |  |
| American Tower Corp. | &nbsp;&nbsp;108381 | &nbsp;&nbsp;&nbsp;&nbsp;22961599 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97856 | &nbsp;&nbsp;&nbsp;&nbsp;13273188 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Five Point Holdings LLC, Class A (A) | 2477410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772365 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42007152 |  |
| TOTAL COMMON STOCKS (Cost $1,395,897,067) | TOTAL COMMON STOCKS (Cost $1,395,897,067) | $1797653000 |  |
| **SHORT-TERM INVESTMENTS - 2.5%** | **SHORT-TERM INVESTMENTS - 2.5%** |  |  |
| **Short-term funds - 2.5%** | **Short-term funds - 2.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 4581360 | &nbsp;&nbsp;&nbsp;&nbsp;45794358 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $45,793,861) | TOTAL SHORT-TERM INVESTMENTS (Cost $45,793,861) | $&nbsp;&nbsp;&nbsp;&nbsp;45794358 |  |
| **Total Investments (Fundamental All Cap Core Trust) (Cost $1,441,690,928) - 100.0%** | **Total Investments (Fundamental All Cap Core Trust) (Cost $1,441,690,928) - 100.0%** | $**1843447358** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(136555)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**1843310803** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Fundamental Large Cap Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 99.4%** | **COMMON STOCKS - 99.4%** |  |  |
| **Communication services - 7.5%** | **Communication services - 7.5%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175231 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15460631 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6110582 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24905909 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7542069 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54019191 |  |
| **Consumer discretionary - 7.1%** | **Consumer discretionary - 7.1%** |  |  |
| Dufry AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450907 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11847481 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25648243 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763847 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50710478 |  |
| **Consumer staples - 9.7%** | **Consumer staples - 9.7%** |  |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12941022 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9719609 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7404309 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10391905 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23330410 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381016 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69168271 |  |
| **Energy - 7.4%** | **Energy - 7.4%** |  |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20837842 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |

---

#### Fundamental Large Cap Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Energy (continued)** | **Energy (continued)** |  |  |
| Chevron Corp. | &nbsp;&nbsp;66988 | $&nbsp;&nbsp;&nbsp;12023676 | 1.7% |
| Suncor Energy, Inc. | 508942 | &nbsp;&nbsp;&nbsp;16148730 | 2.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3610630 | 0.5% |
|  |  | &nbsp;&nbsp;&nbsp;52620878 |  |
| **Financials - 19.5%** | **Financials - 19.5%** |  |  |
| Bank of America Corp. | 276857 | &nbsp;&nbsp;&nbsp;&nbsp;9169504 | 1.3% |
| Citigroup, Inc. | 289849 | &nbsp;&nbsp;&nbsp;13109870 | 1.8% |
| JPMorgan Chase & Co. | 132831 | &nbsp;&nbsp;&nbsp;17812637 | 2.5% |
| KKR & Company, Inc. | 435090 | &nbsp;&nbsp;&nbsp;20196878 | 2.8% |
| Morgan Stanley | 121521 | &nbsp;&nbsp;&nbsp;10331715 | 1.5% |
| Nasdaq, Inc. | 270270 | &nbsp;&nbsp;&nbsp;16581065 | 2.3% |
| State Street Corp. | 295028 | &nbsp;&nbsp;&nbsp;22885322 | 3.2% |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;36461 | &nbsp;&nbsp;&nbsp;12519978 | 1.8% |
| Wells Fargo & Company | 326109 | &nbsp;&nbsp;&nbsp;13465041 | 1.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3086498 | 0.4% |
|  |  | 139158508 |  |
| **Health care - 16.4%** | **Health care - 16.4%** |  |  |
| Danaher Corp. | &nbsp;&nbsp;46843 | &nbsp;&nbsp;&nbsp;12433069 | 1.7% |
| Elanco Animal Health, Inc. (A) | 538662 | &nbsp;&nbsp;&nbsp;&nbsp;6582450 | 0.9% |
| Elevance Health, Inc. | &nbsp;&nbsp;75438 | &nbsp;&nbsp;&nbsp;38697431 | 5.4% |
| Gilead Sciences, Inc. | &nbsp;&nbsp;89153 | &nbsp;&nbsp;&nbsp;&nbsp;7653785 | 1.1% |
| HCA Healthcare, Inc. | &nbsp;&nbsp;30090 | &nbsp;&nbsp;&nbsp;&nbsp;7220396 | 1.0% |
| Hologic, Inc. (A) | &nbsp;&nbsp;81458 | &nbsp;&nbsp;&nbsp;&nbsp;6093873 | 0.9% |
| Merck & Company, Inc. | 112172 | &nbsp;&nbsp;&nbsp;12445483 | 1.8% |
| Moderna, Inc. (A) | &nbsp;&nbsp;40827 | &nbsp;&nbsp;&nbsp;&nbsp;7333346 | 1.0% |
| Novartis AG, ADR | &nbsp;&nbsp;92943 | &nbsp;&nbsp;&nbsp;&nbsp;8431789 | 1.2% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;19265 | &nbsp;&nbsp;&nbsp;10213918 | 1.4% |
|  |  | 117105540 |  |
| **Industrials - 14.8%** | **Industrials - 14.8%** |  |  |
| Airbus SE | &nbsp;&nbsp;67136 | &nbsp;&nbsp;&nbsp;&nbsp;7982631 | 1.1% |
| Fortive Corp. | 177176 | &nbsp;&nbsp;&nbsp;11383558 | 1.6% |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;30304 | &nbsp;&nbsp;&nbsp;&nbsp;6309596 | 0.9% |
| Parker-Hannifin Corp. | &nbsp;&nbsp;94834 | &nbsp;&nbsp;&nbsp;27596694 | 3.9% |
| Raytheon Technologies Corp. | 156753 | &nbsp;&nbsp;&nbsp;15819513 | 2.2% |
| Sensata Technologies Holding PLC | 162252 | &nbsp;&nbsp;&nbsp;&nbsp;6551736 | 0.9% |
| United Rentals, Inc. (A) | &nbsp;&nbsp;70564 | &nbsp;&nbsp;&nbsp;25079857 | 3.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;4852251 | 0.7% |
|  |  | 105575836 |  |
| **Information technology - 12.7%** | **Information technology - 12.7%** |  |  |
| Analog Devices, Inc. | &nbsp;&nbsp;63959 | &nbsp;&nbsp;&nbsp;10491195 | 1.5% |
| Microsoft Corp. | &nbsp;&nbsp;81010 | &nbsp;&nbsp;&nbsp;19427818 | 2.7% |
| Oracle Corp. | 464348 | &nbsp;&nbsp;&nbsp;37955806 | 5.3% |
| Samsung Electronics Company, Ltd. | 157290 | &nbsp;&nbsp;&nbsp;&nbsp;6903968 | 1.0% |
| Vontier Corp. | 442154 | &nbsp;&nbsp;&nbsp;&nbsp;8546837 | 1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7246661 | 1.0% |
|  |  | &nbsp;&nbsp;&nbsp;90572285 |  |
| **Materials - 1.9%** | **Materials - 1.9%** |  |  |
| Axalta Coating Systems, Ltd. (A) | 290592 | &nbsp;&nbsp;&nbsp;&nbsp;7401378 | 1.0% |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;73401 | &nbsp;&nbsp;&nbsp;&nbsp;6094485 | 0.9% |
|  |  | &nbsp;&nbsp;&nbsp;13495863 |  |
| **Real estate - 2.4%** | **Real estate - 2.4%** |  |  |
| American Tower Corp. | &nbsp;&nbsp;82082 | &nbsp;&nbsp;&nbsp;17389893 | 2.4% |
| TOTAL COMMON STOCKS (Cost $583,863,834) | TOTAL COMMON STOCKS (Cost $583,863,834) | $709816743 |  |
| **ESCROW CERTIFICATES - 0.0%** | **ESCROW CERTIFICATES - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | 0.0% |
| TOTAL ESCROW CERTIFICATES (Cost $3) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Fundamental Large Cap Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS - 0.8%** | **SHORT-TERM INVESTMENTS - 0.8%** |  |  |
| **Short-term funds - 0.8%** | **Short-term funds - 0.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 610732 | $&nbsp;&nbsp;&nbsp;&nbsp;6104753 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,103,437) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,103,437) | $&nbsp;&nbsp;&nbsp;&nbsp;6104753 |  |
| **Total Investments (Fundamental Large Cap Value Trust) (Cost $589,967,274) - 100.2%** | **Total Investments (Fundamental Large Cap Value Trust) (Cost $589,967,274) - 100.2%** | $**715921496** | **100.2%** |
| **Other assets and liabilities, net - (0.2)%** | **Other assets and liabilities, net - (0.2)%** | &nbsp;&nbsp;&nbsp;**(1748977)** | &nbsp;&nbsp;**(0.2)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**714172519** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Global Equity Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.9%** | **COMMON STOCKS - 96.9%** |  |  |
| **France - 12.5%** |  |  |  |
| Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089791 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5204176 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801286 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227107 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478769 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072190 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8380945 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34254264 |  |
| **Ireland - 4.6%** |  |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7003216 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587092 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12590308 |  |
| **Japan - 8.6%** |  |  |  |
| FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4290517 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Mitsubishi Estate Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4113655 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10106388 | &nbsp;&nbsp;&nbsp;&nbsp;3.7% |
| Tokyo Electric Power Company Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168039 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23678599 |  |
| **Netherlands - 5.5%** |  |  |  |
| Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959510 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134382 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4598521 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415917 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15108330 |  |
| **Spain - 1.2%** |  |  |  |
| Amadeus IT Group SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3403325 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| **Switzerland - 4.0%** |  |  |  |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5657949 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440395 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11098344 |  |
| **United Kingdom - 4.2%** |  |  |  |
| Amcor PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683074 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |

---

#### Global Equity Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **United Kingdom (continued)** |  |  |  |
| Amcor PLC, CHESS Depositary Interest | &nbsp;&nbsp;448326 | $&nbsp;&nbsp;&nbsp;&nbsp;5375975 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;63718 | &nbsp;&nbsp;&nbsp;&nbsp;4416722 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
|  |  | &nbsp;&nbsp;&nbsp;11475771 |  |
| **United States - 56.3%** |  |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;137619 | &nbsp;&nbsp;&nbsp;12142124 | &nbsp;&nbsp;&nbsp;&nbsp;4.4% |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52642 | &nbsp;&nbsp;&nbsp;&nbsp;6839775 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;28741 | &nbsp;&nbsp;&nbsp;&nbsp;5418828 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;3262756 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Bank of America Corp. | &nbsp;&nbsp;150999 | &nbsp;&nbsp;&nbsp;&nbsp;5001087 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Cisco Systems, Inc. | &nbsp;&nbsp;133247 | &nbsp;&nbsp;&nbsp;&nbsp;6347887 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;66919 | &nbsp;&nbsp;&nbsp;&nbsp;7896442 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69836 | &nbsp;&nbsp;&nbsp;&nbsp;4104960 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51671 | &nbsp;&nbsp;&nbsp;&nbsp;6313163 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41944 | &nbsp;&nbsp;&nbsp;&nbsp;4303035 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;55369 | &nbsp;&nbsp;&nbsp;&nbsp;9780934 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| Lowe's Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13536 | &nbsp;&nbsp;&nbsp;&nbsp;2696913 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66056 | &nbsp;&nbsp;&nbsp;15841552 | &nbsp;&nbsp;&nbsp;&nbsp;5.8% |
| Oracle Corp. | &nbsp;&nbsp;116890 | &nbsp;&nbsp;&nbsp;&nbsp;9554589 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| Otis Worldwide Corp. | &nbsp;&nbsp;107843 | &nbsp;&nbsp;&nbsp;&nbsp;8445185 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77039 | &nbsp;&nbsp;&nbsp;&nbsp;7797117 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38220 | &nbsp;&nbsp;&nbsp;&nbsp;5350800 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14778 | &nbsp;&nbsp;&nbsp;&nbsp;7835000 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8937 | &nbsp;&nbsp;&nbsp;&nbsp;2580827 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34795 | &nbsp;&nbsp;&nbsp;&nbsp;7229009 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29303 | &nbsp;&nbsp;&nbsp;&nbsp;4154872 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35313 | &nbsp;&nbsp;&nbsp;&nbsp;5539903 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Wells Fargo & Company | &nbsp;&nbsp;155463 | &nbsp;&nbsp;&nbsp;&nbsp;6419067 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
|  |  | 154855825 |  |
| TOTAL COMMON STOCKS (Cost $258,383,730) | TOTAL COMMON STOCKS (Cost $258,383,730) | $266464766 |  |
| **PREFERRED SECURITIES - 2.6%** | **PREFERRED SECURITIES - 2.6%** |  |  |
| **South Korea - 2.6%** |  |  |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;176443 | &nbsp;&nbsp;&nbsp;&nbsp;7070663 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| TOTAL PREFERRED SECURITIES (Cost $8,934,713) | TOTAL PREFERRED SECURITIES (Cost $8,934,713) | $&nbsp;&nbsp;&nbsp;&nbsp;7070663 |  |
| **SHORT-TERM INVESTMENTS - 2.3%** | **SHORT-TERM INVESTMENTS - 2.3%** |  |  |
| **Short-term funds - 2.3%** |  |  |  |
| Federated Government Obligations Fund, Institutional Class, 4.0929% (B) | 6383391 | &nbsp;&nbsp;&nbsp;&nbsp;6383391 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,383,391) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,383,391) | $&nbsp;&nbsp;&nbsp;&nbsp;6383391 |  |
| **Total Investments (Global Equity Trust)<br> (Cost $273,701,834) - 101.8%** | **Total Investments (Global Equity Trust)<br> (Cost $273,701,834) - 101.8%** | $**279918820** | **101.8%** |
| **Other assets and liabilities, net - (1.8)%** | **Other assets and liabilities, net - (1.8)%** | &nbsp;&nbsp;&nbsp;**(4864495)** | &nbsp;&nbsp;**(1.8)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**275054325** | **100.0%** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 12-31-22.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Health Sciences Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.9%** | **COMMON STOCKS - 97.9%** |  |  |
| **Consumer discretionary - 0.2%** | **Consumer discretionary - 0.2%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495960 | &nbsp;&nbsp;&nbsp;0.2% |
| **Financials - 0.1%** | **Financials - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133406 | &nbsp;&nbsp;&nbsp;0.1% |
| **Health care - 97.6%** | **Health care - 97.6%** |  |  |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4785272 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5598855 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6264454 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| Argenx SE, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4697113 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888740 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| AstraZeneca PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9448066 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| Avantor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646475 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Becton, Dickinson and Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4912313 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Biogen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830995 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| BioNTech SE, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580014 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330735 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Centene Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4797257 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180364 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Cigna Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069187 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Daiichi Sankyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304567 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10599548 | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| DexCom, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2327761 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8751781 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12485388 | &nbsp;&nbsp;&nbsp;&nbsp;4.5% |
| Genmab A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387522 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582689 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Hologic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625158 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6244620 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Illumina, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280128 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Incyte Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307047 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Insulet Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230887 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8352157 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605925 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072486 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Merck & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9669847 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321141 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Moderna, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3326024 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4260168 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Novocure, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608492 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2630812 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6315996 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| Regeneron Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8407523 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236427 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208838 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070493 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6364319 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470321 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200090 | &nbsp;&nbsp;&nbsp;&nbsp;5.1% |
| Ultragenyx Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149679 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23959365 | &nbsp;&nbsp;&nbsp;&nbsp;8.6% |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734189 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6303201 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529775 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49432321 | &nbsp;&nbsp;&nbsp;17.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271386525 |  |
| **Materials - 0.0%** | **Materials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133270 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $212,679,387) | TOTAL COMMON STOCKS (Cost $212,679,387) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272149161 |  |

---

#### Health Sciences Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PREFERRED SECURITIES - 0.7%** | **PREFERRED SECURITIES - 0.7%** |  |  |
| **Health care - 0.7%** | **Health care - 0.7%** |  |  |
| Sartorius AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4432 | $&nbsp;&nbsp;&nbsp;&nbsp;1750089 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| TOTAL PREFERRED SECURITIES (Cost $880,522) | TOTAL PREFERRED SECURITIES (Cost $880,522) | $&nbsp;&nbsp;&nbsp;&nbsp;1750089 |  |
| **WARRANTS - 0.0%** | **WARRANTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $29,139) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118 |  |
| **SHORT-TERM INVESTMENTS - 1.3%** | **SHORT-TERM INVESTMENTS - 1.3%** |  |  |
| **Short-term funds - 1.3%** | **Short-term funds - 1.3%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.2602% (B) | 2976023 | &nbsp;&nbsp;&nbsp;&nbsp;2976023 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670279 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3646302 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,646,302) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,646,302) | $&nbsp;&nbsp;&nbsp;&nbsp;3646302 |  |
| **Total Investments (Health Sciences Trust) (Cost $217,235,350) - 99.9%** | **Total Investments (Health Sciences Trust) (Cost $217,235,350) - 99.9%** | $**277547670** | &nbsp;&nbsp;**99.9%** |
| **Other assets and liabilities, net - 0.1%** | **Other assets and liabilities, net - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**394896** | &nbsp;&nbsp;&nbsp;**0.1%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**277942566** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

#### International Equity Index Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.8%** | **COMMON STOCKS - 96.8%** |  |  |
| **Australia - 5.0%** |  |  |  |
| BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174488 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405114 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4086868 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217603 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26009175 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38718760 |  |
| **Austria - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981669 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| **Belgium - 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417195 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| **Brazil - 1.1%** |  |  |  |
| Vale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211784 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138713 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8350497 |  |
| **Canada - 7.7%** |  |  |  |
| Canadian National Railway Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411412 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Canadian Pacific Railway, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408187 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2696809 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Manulife Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212851 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465842 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| The Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4019093 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42867354 | &nbsp;&nbsp;&nbsp;&nbsp;5.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60081548 |  |
| **Chile - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865375 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| **China - 7.8%** |  |  |  |
| Alibaba Group Holding, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5363560 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Alibaba Group Holding, Ltd., ADR (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337209 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| Meituan, Class B (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3334453 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9073678 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **China (continued)** |  |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;42670048 | &nbsp;&nbsp;&nbsp;5.3% |
|  |  | &nbsp;&nbsp;&nbsp;60778948 |  |
| **Colombia - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109793 | &nbsp;&nbsp;&nbsp;0.0% |
| **Czech Republic - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346899 | &nbsp;&nbsp;&nbsp;0.0% |
| **Denmark - 1.9%** |  |  |  |
| Novo Nordisk A/S, B Shares | &nbsp;&nbsp;56527 | &nbsp;&nbsp;&nbsp;&nbsp;7677246 | &nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7357638 | &nbsp;&nbsp;&nbsp;0.9% |
|  |  | &nbsp;&nbsp;&nbsp;15034884 |  |
| **Egypt - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173780 | &nbsp;&nbsp;&nbsp;0.0% |
| **Finland - 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;6315343 | &nbsp;&nbsp;&nbsp;0.8% |
| **France - 7.4%** |  |  |  |
| Air Liquide SA | &nbsp;&nbsp;17904 | &nbsp;&nbsp;&nbsp;&nbsp;2541203 | &nbsp;&nbsp;&nbsp;0.3% |
| Airbus SE | &nbsp;&nbsp;20253 | &nbsp;&nbsp;&nbsp;&nbsp;2408124 | &nbsp;&nbsp;&nbsp;0.3% |
| L'Oreal SA | &nbsp;&nbsp;&nbsp;8231 | &nbsp;&nbsp;&nbsp;&nbsp;2947492 | &nbsp;&nbsp;&nbsp;0.4% |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;9451 | &nbsp;&nbsp;&nbsp;&nbsp;6877404 | &nbsp;&nbsp;&nbsp;0.9% |
| Sanofi | &nbsp;&nbsp;39156 | &nbsp;&nbsp;&nbsp;&nbsp;3775666 | &nbsp;&nbsp;&nbsp;0.5% |
| Schneider Electric SE | &nbsp;&nbsp;17968 | &nbsp;&nbsp;&nbsp;&nbsp;2523320 | &nbsp;&nbsp;&nbsp;0.3% |
| Schneider Electric SE (Euronext London Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88350 | &nbsp;&nbsp;&nbsp;0.0% |
| TotalEnergies SE | &nbsp;&nbsp;84703 | &nbsp;&nbsp;&nbsp;&nbsp;5317059 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;30855103 | &nbsp;&nbsp;&nbsp;4.0% |
|  |  | &nbsp;&nbsp;&nbsp;57333721 |  |
| **Germany - 4.8%** |  |  |  |
| Allianz SE | &nbsp;&nbsp;14190 | &nbsp;&nbsp;&nbsp;&nbsp;3030374 | &nbsp;&nbsp;&nbsp;0.4% |
| Deutsche Telekom AG | 110734 | &nbsp;&nbsp;&nbsp;&nbsp;2203221 | &nbsp;&nbsp;&nbsp;0.3% |
| SAP SE | &nbsp;&nbsp;35971 | &nbsp;&nbsp;&nbsp;&nbsp;3713659 | &nbsp;&nbsp;&nbsp;0.5% |
| Siemens AG | &nbsp;&nbsp;26349 | &nbsp;&nbsp;&nbsp;&nbsp;3632231 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;24888449 | &nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;37467934 |  |
| **Greece - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747178 | &nbsp;&nbsp;&nbsp;0.1% |
| **Hong Kong - 2.5%** |  |  |  |
| AIA Group, Ltd. | 413200 | &nbsp;&nbsp;&nbsp;&nbsp;4563129 | &nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;15034853 | &nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;19597982 |  |
| **Hungary - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389127 | &nbsp;&nbsp;&nbsp;0.0% |
| **India - 4.0%** |  |  |  |
| Reliance Industries, Ltd. | &nbsp;&nbsp;19318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593028 | &nbsp;&nbsp;&nbsp;0.1% |
| Reliance Industries, Ltd., GDR (C) | &nbsp;&nbsp;42342 | &nbsp;&nbsp;&nbsp;&nbsp;2597421 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;27935073 | &nbsp;&nbsp;&nbsp;3.5% |
|  |  | &nbsp;&nbsp;&nbsp;31125522 |  |
| **Indonesia - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;4206602 | &nbsp;&nbsp;&nbsp;0.5% |
| **Ireland - 0.7%** |  | &nbsp;&nbsp;&nbsp;&nbsp;5270474 | &nbsp;&nbsp;&nbsp;0.7% |
| **Israel - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;3531428 | &nbsp;&nbsp;&nbsp;0.5% |
| **Italy - 1.3%** |  | &nbsp;&nbsp;&nbsp;10038320 | &nbsp;&nbsp;&nbsp;1.3% |
| **Japan - 14.1%** |  |  |  |
| Keyence Corp. | &nbsp;&nbsp;&nbsp;6696 | &nbsp;&nbsp;&nbsp;&nbsp;2599687 | &nbsp;&nbsp;&nbsp;0.3% |
| Mitsubishi UFJ Financial Group, Inc. | 409100 | &nbsp;&nbsp;&nbsp;&nbsp;2746459 | &nbsp;&nbsp;&nbsp;0.4% |
| Sony Group Corp. | &nbsp;&nbsp;43500 | &nbsp;&nbsp;&nbsp;&nbsp;3315641 | &nbsp;&nbsp;&nbsp;0.4% |
| Toyota Motor Corp. | 365900 | &nbsp;&nbsp;&nbsp;&nbsp;4991807 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;96221136 | 12.3% |
|  |  | 109874730 |  |
| **Jordan - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128719 | &nbsp;&nbsp;&nbsp;0.0% |
| **Luxembourg - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1347162 | &nbsp;&nbsp;&nbsp;0.2% |
| **Macau - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301781 | &nbsp;&nbsp;&nbsp;0.0% |
| **Malaysia - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;3529529 | &nbsp;&nbsp;&nbsp;0.5% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Mexico - 0.7%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;5302783 | 0.7% |
| **Netherlands - 3.0%** |  |  |  |
| ASML Holding NV | &nbsp;&nbsp;13887 | &nbsp;&nbsp;&nbsp;&nbsp;7571888 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;15599979 | 2.0% |
|  |  | &nbsp;&nbsp;&nbsp;23171867 |  |
| **New Zealand - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1150937 | 0.1% |
| **Norway - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;3870891 | 0.5% |
| **Peru - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390273 | 0.1% |
| **Philippines - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1549606 | 0.2% |
| **Poland - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1481591 | 0.2% |
| **Portugal - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918936 | 0.1% |
| **Russia - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186378 | 0.0% |
| **Saudi Arabia - 1.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;8102958 | 1.0% |
| **Singapore - 1.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;7878000 | 1.0% |
| **South Africa - 1.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;7758668 | 1.0% |
| **South Korea - 2.9%** |  |  |  |
| Samsung Electronics Company, Ltd. | 163163 | &nbsp;&nbsp;&nbsp;&nbsp;7161753 | 0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;15424538 | 2.0% |
|  |  | &nbsp;&nbsp;&nbsp;22586291 |  |
| **Spain - 1.6%** |  |  |  |
| Iberdrola SA | 203440 | &nbsp;&nbsp;&nbsp;&nbsp;2374849 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;10080555 | 1.3% |
|  |  | &nbsp;&nbsp;&nbsp;12455404 |  |
| **Sweden - 2.0%** |  | &nbsp;&nbsp;&nbsp;15480848 | 2.0% |
| **Switzerland - 6.8%** |  |  |  |
| Cie Financiere Richemont SA, A Shares | &nbsp;&nbsp;17834 | &nbsp;&nbsp;&nbsp;&nbsp;2312356 | 0.3% |
| Glencore PLC | 342145 | &nbsp;&nbsp;&nbsp;&nbsp;2281656 | 0.3% |
| Nestle SA | &nbsp;&nbsp;93903 | &nbsp;&nbsp;&nbsp;10846682 | 1.4% |
| Novartis AG | &nbsp;&nbsp;73871 | &nbsp;&nbsp;&nbsp;&nbsp;6685137 | 0.9% |
| Roche Holding AG | &nbsp;&nbsp;24003 | &nbsp;&nbsp;&nbsp;&nbsp;7542644 | 1.0% |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353009 | 0.0% |
| Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;5140 | &nbsp;&nbsp;&nbsp;&nbsp;2457318 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;20546075 | 2.6% |
|  |  | &nbsp;&nbsp;&nbsp;53024877 |  |
| **Taiwan - 3.7%** |  |  |  |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 841227 | &nbsp;&nbsp;&nbsp;12217520 | 1.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;16626406 | 2.1% |
|  |  | &nbsp;&nbsp;&nbsp;28843926 |  |
| **Thailand - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;4144457 | 0.5% |
| **Turkey - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;1499082 | 0.2% |
| **United Arab Emirates - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | 0.0% |
| **United Kingdom - 9.4%** |  |  |  |
| AstraZeneca PLC | &nbsp;&nbsp;53030 | &nbsp;&nbsp;&nbsp;&nbsp;7176022 | 0.9% |
| BP PLC | 642493 | &nbsp;&nbsp;&nbsp;&nbsp;3707165 | 0.5% |
| British American Tobacco PLC | &nbsp;&nbsp;72982 | &nbsp;&nbsp;&nbsp;&nbsp;2887047 | 0.4% |
| Diageo PLC | &nbsp;&nbsp;77751 | &nbsp;&nbsp;&nbsp;&nbsp;3403324 | 0.4% |
| GSK PLC | 138567 | &nbsp;&nbsp;&nbsp;&nbsp;2394898 | 0.3% |
| HSBC Holdings PLC | 691905 | &nbsp;&nbsp;&nbsp;&nbsp;4288129 | 0.6% |
| Rio Tinto PLC | &nbsp;&nbsp;38611 | &nbsp;&nbsp;&nbsp;&nbsp;2717612 | 0.4% |
| Shell PLC | 248052 | &nbsp;&nbsp;&nbsp;&nbsp;6992823 | 0.9% |
| Unilever PLC | &nbsp;&nbsp;87494 | &nbsp;&nbsp;&nbsp;&nbsp;4417405 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;35101623 | 4.4% |
|  |  | &nbsp;&nbsp;&nbsp;73086048 |  |
| **United States - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695660 | 0.1% |
| TOTAL COMMON STOCKS (Cost $643,054,188) | TOTAL COMMON STOCKS (Cost $643,054,188) | $754644390 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PREFERRED SECURITIES - 0.8%** | **PREFERRED SECURITIES - 0.8%** |  |  |
| **Brazil - 0.4%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;2835838 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| **Germany - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;2450205 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| **South Korea - 0.1%** |  |  |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28139 | &nbsp;&nbsp;&nbsp;&nbsp;1127624 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147085 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1274709 |  |
| TOTAL PREFERRED SECURITIES (Cost $7,437,296) | TOTAL PREFERRED SECURITIES (Cost $7,437,296) | $&nbsp;&nbsp;&nbsp;&nbsp;6560752 |  |
| **RIGHTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 |  |
| **WARRANTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 |  |
| **SHORT-TERM INVESTMENTS - 1.2%** | **SHORT-TERM INVESTMENTS - 1.2%** |  |  |
| **Short-term funds - 1.2%** |  |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.0943% (D) | 9128601 | &nbsp;&nbsp;&nbsp;&nbsp;9128601 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;14256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142499 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,271,101) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,271,101) | $&nbsp;&nbsp;&nbsp;&nbsp;9271100 |  |
| **Total Investments (International Equity Index Trust)<br> (Cost $659,762,585) - 98.8%** | **Total Investments (International Equity Index Trust)<br> (Cost $659,762,585) - 98.8%** | $**770480352** | &nbsp;&nbsp;**98.8%** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**8980448** | &nbsp;&nbsp;&nbsp;**1.2%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**779460800** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| (A) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (B) | Non-income producing security. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3272680 | &nbsp;&nbsp;&nbsp;&nbsp;$3216180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(56500) |
| Mini MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;14814844 | &nbsp;&nbsp;&nbsp;&nbsp;14435960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(378884) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(435384)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### International Small Company Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 98.7%** | **COMMON STOCKS - 98.7%** |  |  |
| **Australia - 6.4%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6251398 | &nbsp;&nbsp;&nbsp;&nbsp;6.4% |
| **Austria - 1.5%** |  |  |  |
| ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187639 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| BAWAG Group AG (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215505 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092128 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495272 |  |
| **Belgium - 1.5%** |  |  |  |
| Ackermans & van Haaren NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168543 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Euronav NV (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140199 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Euronav NV (New York Stock Exchange) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39601 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |

---

#### International Small Company Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Belgium (continued)** |  |  |  |
| OTHER SECURITIES |  | $1109444 | 1.0% |
|  |  | 1457787 |  |
| **Bermuda - 0.2%** |  |  |  |
| Hiscox, Ltd. | 12537 | &nbsp;&nbsp;&nbsp;&nbsp;165294 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;21790 | 0.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;187084 |  |
| **Cambodia - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;46125 | 0.1% |
| **Canada - 11.4%** |  |  |  |
| Alamos Gold, Inc., Class A | 22405 | &nbsp;&nbsp;&nbsp;&nbsp;226532 | 0.2% |
| Aritzia, Inc. (B) | &nbsp;&nbsp;5745 | &nbsp;&nbsp;&nbsp;&nbsp;200905 | 0.2% |
| Boyd Group Services, Inc. | &nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp;179192 | 0.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Canada (continued)** |  |  |  |
| Capital Power Corp. | &nbsp;&nbsp;6027 | $&nbsp;&nbsp;&nbsp;&nbsp;206227 | &nbsp;&nbsp;&nbsp;0.2% |
| Crescent Point Energy Corp. | 12719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90743 | &nbsp;&nbsp;&nbsp;0.1% |
| Crescent Point Energy Corp. (New York Stock Exchange) | 16800 | &nbsp;&nbsp;&nbsp;&nbsp;120120 | &nbsp;&nbsp;&nbsp;0.1% |
| Element Fleet Management Corp. | 20269 | &nbsp;&nbsp;&nbsp;&nbsp;276191 | &nbsp;&nbsp;&nbsp;0.3% |
| Finning International, Inc. | &nbsp;&nbsp;7281 | &nbsp;&nbsp;&nbsp;&nbsp;181003 | &nbsp;&nbsp;&nbsp;0.2% |
| PrairieSky Royalty, Ltd. | 11227 | &nbsp;&nbsp;&nbsp;&nbsp;179931 | &nbsp;&nbsp;&nbsp;0.2% |
| Yamana Gold, Inc. | 45750 | &nbsp;&nbsp;&nbsp;&nbsp;254092 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;9302330 | &nbsp;&nbsp;&nbsp;9.4% |
|  |  | 11217266 |  |
| **China - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20581 | &nbsp;&nbsp;&nbsp;0.0% |
| **Denmark - 2.5%** |  |  |  |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;177812 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;2250807 | &nbsp;&nbsp;&nbsp;2.3% |
|  |  | &nbsp;&nbsp;&nbsp;2428619 |  |
| **Finland - 2.2%** |  |  |  |
| Orion OYJ, Class A | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53749 | &nbsp;&nbsp;&nbsp;0.1% |
| Orion OYJ, Class B | &nbsp;&nbsp;4918 | &nbsp;&nbsp;&nbsp;&nbsp;269619 | &nbsp;&nbsp;&nbsp;0.3% |
| Valmet OYJ | &nbsp;&nbsp;6257 | &nbsp;&nbsp;&nbsp;&nbsp;168905 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1636261 | &nbsp;&nbsp;&nbsp;1.6% |
|  |  | &nbsp;&nbsp;&nbsp;2128534 |  |
| **France - 4.7%** |  |  |  |
| Alten SA | &nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;166007 | &nbsp;&nbsp;&nbsp;0.2% |
| Rexel SA (B) | 10217 | &nbsp;&nbsp;&nbsp;&nbsp;202076 | &nbsp;&nbsp;&nbsp;0.2% |
| SPIE SA | &nbsp;&nbsp;6716 | &nbsp;&nbsp;&nbsp;&nbsp;175116 | &nbsp;&nbsp;&nbsp;0.2% |
| Valeo | &nbsp;&nbsp;8798 | &nbsp;&nbsp;&nbsp;&nbsp;157201 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;3939160 | &nbsp;&nbsp;&nbsp;3.9% |
|  |  | &nbsp;&nbsp;&nbsp;4639560 |  |
| **Gabon - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;0.0% |
| **Georgia - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;136891 | &nbsp;&nbsp;&nbsp;0.1% |
| **Germany - 5.5%** |  |  |  |
| Fuchs Petrolub SE | &nbsp;&nbsp;2106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62484 | &nbsp;&nbsp;&nbsp;0.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;5344905 | &nbsp;&nbsp;&nbsp;5.4% |
|  |  | &nbsp;&nbsp;&nbsp;5407389 |  |
| **Gibraltar - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740 | &nbsp;&nbsp;&nbsp;0.0% |
| **Greece - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12956 | &nbsp;&nbsp;&nbsp;0.0% |
| **Guernsey, Channel<br> Islands - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;0.0% |
| **Hong Kong - 2.3%** |  | &nbsp;&nbsp;&nbsp;2298879 | &nbsp;&nbsp;&nbsp;2.3% |
| **Ireland - 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;580391 | &nbsp;&nbsp;&nbsp;0.6% |
| **Isle of Man - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76627 | &nbsp;&nbsp;&nbsp;0.1% |
| **Israel - 1.4%** |  | &nbsp;&nbsp;&nbsp;1406884 | &nbsp;&nbsp;&nbsp;1.4% |
| **Italy - 3.5%** |  |  |  |
| Banco BPM SpA | 68596 | &nbsp;&nbsp;&nbsp;&nbsp;244542 | &nbsp;&nbsp;&nbsp;0.3% |
| Brunello Cucinelli SpA | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;165147 | &nbsp;&nbsp;&nbsp;0.2% |
| Leonardo SpA | 19212 | &nbsp;&nbsp;&nbsp;&nbsp;165698 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;2851622 | &nbsp;&nbsp;&nbsp;2.8% |
|  |  | &nbsp;&nbsp;&nbsp;3427009 |  |
| **Japan - 24.5%** |  | 24185148 | 24.5% |
| **Jersey, Channel<br> Islands - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;110992 | &nbsp;&nbsp;&nbsp;0.1% |
| **Liechtenstein - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61582 | &nbsp;&nbsp;&nbsp;0.1% |
| **Luxembourg - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;481434 | &nbsp;&nbsp;&nbsp;0.5% |
| **Macau - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14711 | &nbsp;&nbsp;&nbsp;0.0% |
| **Malaysia - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10903 | &nbsp;&nbsp;&nbsp;0.0% |
| **Malta - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6245 | &nbsp;&nbsp;&nbsp;0.0% |
| **Mauritius - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 | &nbsp;&nbsp;&nbsp;0.0% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Netherlands - 1.8%** |  |  |  |
| BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;2921 | $&nbsp;&nbsp;&nbsp;&nbsp;178008 | 0.2% |
| Signify NV (A) | &nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;175550 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1427253 | 1.4% |
|  |  | &nbsp;&nbsp;&nbsp;1780811 |  |
| **New Zealand - 0.5%** |  | &nbsp;&nbsp;&nbsp;&nbsp;485102 | 0.5% |
| **Norway - 0.9%** |  | &nbsp;&nbsp;&nbsp;&nbsp;903659 | 0.9% |
| **Peru - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14051 | 0.0% |
| **Portugal - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;337399 | 0.3% |
| **Singapore - 1.2%** |  | &nbsp;&nbsp;&nbsp;1203436 | 1.2% |
| **South Africa - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;136991 | 0.1% |
| **Spain - 2.4%** |  |  |  |
| Banco de Sabadell SA | 287776 | &nbsp;&nbsp;&nbsp;&nbsp;270498 | 0.3% |
| Bankinter SA | &nbsp;&nbsp;32551 | &nbsp;&nbsp;&nbsp;&nbsp;218076 | 0.2% |
| Enagas SA | &nbsp;&nbsp;11699 | &nbsp;&nbsp;&nbsp;&nbsp;194536 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1643293 | 1.7% |
|  |  | &nbsp;&nbsp;&nbsp;2326403 |  |
| **Sweden - 2.7%** |  | &nbsp;&nbsp;&nbsp;2690814 | 2.7% |
| **Switzerland - 7.3%** |  |  |  |
| Baloise Holding AG | &nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;284940 | 0.3% |
| Belimo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;259530 | 0.3% |
| BKW AG | &nbsp;&nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp;173492 | 0.2% |
| Clariant AG (B) | &nbsp;&nbsp;&nbsp;9918 | &nbsp;&nbsp;&nbsp;&nbsp;157512 | 0.2% |
| Dufry AG (B) | &nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;160325 | 0.2% |
| Flughafen Zurich AG (B) | &nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;165882 | 0.2% |
| Galenica AG (A) | &nbsp;&nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;196143 | 0.2% |
| Georg Fischer AG | &nbsp;&nbsp;&nbsp;3955 | &nbsp;&nbsp;&nbsp;&nbsp;242292 | 0.3% |
| Helvetia Holding AG | &nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;208987 | 0.2% |
| PSP Swiss Property AG | &nbsp;&nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;268189 | 0.3% |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;326497 | 0.3% |
| Temenos AG | &nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp;160749 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4559708 | 4.4% |
|  |  | &nbsp;&nbsp;&nbsp;7164246 |  |
| **Taiwan - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12813 | 0.0% |
| **United Arab Emirates - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90811 | 0.1% |
| **United Kingdom - 11.3%** |  |  |  |
| Beazley PLC | &nbsp;&nbsp;32052 | &nbsp;&nbsp;&nbsp;&nbsp;262145 | 0.3% |
| Drax Group PLC | &nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;167953 | 0.2% |
| Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;&nbsp;163301 | 0.2% |
| Greggs PLC | &nbsp;&nbsp;&nbsp;5783 | &nbsp;&nbsp;&nbsp;&nbsp;162487 | 0.2% |
| Inchcape PLC | &nbsp;&nbsp;21514 | &nbsp;&nbsp;&nbsp;&nbsp;212415 | 0.2% |
| Indivior PLC (B) | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;161125 | 0.2% |
| Man Group PLC | &nbsp;&nbsp;60987 | &nbsp;&nbsp;&nbsp;&nbsp;156912 | 0.2% |
| Rotork PLC | &nbsp;&nbsp;43727 | &nbsp;&nbsp;&nbsp;&nbsp;162500 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;9681368 | 9.6% |
|  |  | 11130206 |  |
| **United States - 0.9%** |  | &nbsp;&nbsp;&nbsp;&nbsp;855602 | 0.9% |
| TOTAL COMMON STOCKS (Cost $115,390,558) | TOTAL COMMON STOCKS (Cost $115,390,558) | $97253435 |  |
| **PREFERRED SECURITIES - 0.3%** | **PREFERRED SECURITIES - 0.3%** |  |  |
| **Germany - 0.3%** |  |  |  |
| Fuchs Petrolub SE | &nbsp;&nbsp;&nbsp;3739 | &nbsp;&nbsp;&nbsp;&nbsp;130695 | 0.1% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PREFERRED SECURITIES (continued)** | **PREFERRED SECURITIES (continued)** |  |  |
| **Germany (continued)** |  |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;177368 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;308063 |  |
| TOTAL PREFERRED SECURITIES (Cost $331,907) | TOTAL PREFERRED SECURITIES (Cost $331,907) | $&nbsp;&nbsp;&nbsp;&nbsp;308063 |  |
| **WARRANTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 |  |
| **RIGHTS - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |
| **Total Investments (International Small Company Trust)<br> (Cost $115,722,465) - 99.0%** | **Total Investments (International Small Company Trust)<br> (Cost $115,722,465) - 99.0%** | $**97562044** | &nbsp;&nbsp;**99.0%** |
| **Other assets and liabilities, net - 1.0%** | **Other assets and liabilities, net - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**988506** | &nbsp;&nbsp;&nbsp;**1.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**98550550** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (B) | Non-income producing security. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$295459 | &nbsp;&nbsp;&nbsp;&nbsp;$292380 | &nbsp;&nbsp;&nbsp;&nbsp;$(3079) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(3079)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Lifestyle Balanced Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** |  |  |
| **Equity - 50.2%** | **Equity - 50.2%** |  |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;29670029 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450984436 | &nbsp;&nbsp;&nbsp;50.2% |
| **Fixed income - 49.8%** | **Fixed income - 49.8%** |  |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;39124748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447978362 | &nbsp;&nbsp;&nbsp;49.8% |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,053,805,656) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,053,805,656) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898962798 |  |
| **Total Investments (Lifestyle Balanced Portfolio) (Cost $1,053,805,656) - 100.0%** | **Total Investments (Lifestyle Balanced Portfolio) (Cost $1,053,805,656) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898962798** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19003)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898943795** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |

---

#### Lifestyle Conservative Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** |  |  |
| **Equity - 20.0%** | **Equity - 20.0%** |  |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178140 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33107732 | &nbsp;&nbsp;&nbsp;20.0% |
| **Fixed income - 80.0%** | **Fixed income - 80.0%** |  |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;11548333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132228407 | &nbsp;&nbsp;&nbsp;80.0% |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $200,505,029) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $200,505,029) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165336139 |  |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |  |
| **Short-term funds - 0.0%** | **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21217 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $21,214) | TOTAL SHORT-TERM INVESTMENTS (Cost $21,214) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21217 |  |
| **Total Investments (Lifestyle Conservative Portfolio) (Cost $200,526,243) - 100.0%** | **Total Investments (Lifestyle Conservative Portfolio) (Cost $200,526,243) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**165357356** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8706)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**165348650** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Lifestyle Conservative Portfolio (continued)
(C) The rate shown is the annualized seven-day yield as of 12-31-22.

(D) Investment is an affiliate of the fund, the advisor and/or subadvisor.

#### Lifestyle Growth Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** |  |  |
| **Equity - 70.5%** | **Equity - 70.5%** |  |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | 225848655 | $&nbsp;&nbsp;&nbsp;&nbsp;3432899552 | &nbsp;&nbsp;&nbsp;70.5% |
| **Fixed income - 29.5%** | **Fixed income - 29.5%** |  |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | 125741645 | &nbsp;&nbsp;&nbsp;&nbsp;1439741831 | &nbsp;&nbsp;&nbsp;29.5% |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,637,083,212) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,637,083,212) | $&nbsp;&nbsp;&nbsp;&nbsp;4872641383 |  |
| **Total Investments (Lifestyle Growth Portfolio) (Cost $5,637,083,212) - 100.0%** | **Total Investments (Lifestyle Growth Portfolio) (Cost $5,637,083,212) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;**4872641383** | **100.0%** |
| **Other assets and liabilities, net - 0.0%** | **Other assets and liabilities, net - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21813** | &nbsp;&nbsp;&nbsp;**0.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;**4872663196** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |

---

#### Lifestyle Moderate Portfolio

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A)<br> - 100.0%** |  |  |
| **Equity - 40.3%** | **Equity - 40.3%** |  |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7280355 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110661403 | &nbsp;&nbsp;&nbsp;40.3% |
| **Fixed income - 59.7%** | **Fixed income - 59.7%** |  |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;14323906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164008718 | &nbsp;&nbsp;&nbsp;59.7% |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $327,367,787) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $327,367,787) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274670121 |  |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |  |
| **Short-term funds - 0.0%** | **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15630 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,629) | TOTAL SHORT-TERM INVESTMENTS (Cost $15,629) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15630 |  |
| **Total Investments (Lifestyle Moderate Portfolio) (Cost $327,383,416) - 100.0%** | **Total Investments (Lifestyle Moderate Portfolio) (Cost $327,383,416) - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**274685751** | **100.0%** |
| **Other assets and liabilities, net - (0.0)%** | **Other assets and liabilities, net - (0.0)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8161)** | &nbsp;&nbsp;**(0.0)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**274677590** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Mid Cap Growth Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.1%** | **COMMON STOCKS - 97.1%** |  |  |
| **Communication services - 5.2%** | **Communication services - 5.2%** |  |  |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95059 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6629415 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Spotify Technology SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10189761 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8123016 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222159 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29164351 |  |
| **Consumer discretionary - 19.8%** | **Consumer discretionary - 19.8%** |  |  |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894960 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15887290 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| DraftKings, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6031426 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8969958 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10994574 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16512706 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10243874 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Thor Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10631408 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15993411 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9849009 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111008616 |  |
| **Consumer staples - 1.0%** | **Consumer staples - 1.0%** |  |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5672469 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| **Energy - 4.6%** | **Energy - 4.6%** |  |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436733 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6247974 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Pioneer Natural Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6182746 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6874970 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25742423 |  |
| **Financials - 3.5%** | **Financials - 3.5%** |  |  |
| Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7686702 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11814273 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500975 |  |
| **Health care - 22.6%** | **Health care - 22.6%** |  |  |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18973824 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| DexCom, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22859190 | &nbsp;&nbsp;&nbsp;&nbsp;4.1% |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9725992 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10765603 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| Insulet Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20559314 | &nbsp;&nbsp;&nbsp;&nbsp;3.7% |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238580 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6040303 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7616206 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6254522 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17829262 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126862796 |  |
| **Industrials - 11.8%** | **Industrials - 11.8%** |  |  |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18061186 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| Fluor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915873 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12965696 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| The Middleby Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7321786 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| The Toro Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815424 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| WESCO International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6918302 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9323916 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66322183 |  |
| **Information technology - 24.2%** | **Information technology - 24.2%** |  |  |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19328992 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| Block, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9819001 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Growth Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Information technology (continued)** | **Information technology (continued)** |  |  |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46518 | $&nbsp;&nbsp;&nbsp;&nbsp;7881545 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Five9, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95129 | &nbsp;&nbsp;&nbsp;&nbsp;6455454 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Flex, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;511728 | &nbsp;&nbsp;&nbsp;10981683 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Gartner, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17183 | &nbsp;&nbsp;&nbsp;&nbsp;5775894 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| MKS Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65785 | &nbsp;&nbsp;&nbsp;&nbsp;5573963 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Okta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;146607 | &nbsp;&nbsp;&nbsp;10017656 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58191 | &nbsp;&nbsp;&nbsp;18057249 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| SolarEdge Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40883 | &nbsp;&nbsp;&nbsp;11580927 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56670 | &nbsp;&nbsp;&nbsp;&nbsp;6122627 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92591 | &nbsp;&nbsp;&nbsp;15493252 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;9136274 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
|  |  | 136224517 |  |
| **Materials - 3.6%** | **Materials - 3.6%** |  |  |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60169 | &nbsp;&nbsp;&nbsp;13048249 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85337 | &nbsp;&nbsp;&nbsp;&nbsp;7270712 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;20318961 |  |
| **Real estate - 0.8%** | **Real estate - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;4705562 | &nbsp;&nbsp;&nbsp;0.8% |
| TOTAL COMMON STOCKS (Cost $627,161,065) | TOTAL COMMON STOCKS (Cost $627,161,065) | $545522853 |  |
| **PREFERRED SECURITIES - 0.9%** | **PREFERRED SECURITIES - 0.9%** |  |  |
| **Information technology - 0.9%** | **Information technology - 0.9%** | &nbsp;&nbsp;&nbsp;&nbsp;4977785 | &nbsp;&nbsp;&nbsp;0.9% |
| TOTAL PREFERRED SECURITIES (Cost $5,070,285) | TOTAL PREFERRED SECURITIES (Cost $5,070,285) | $&nbsp;&nbsp;&nbsp;&nbsp;4977785 |  |
| **SHORT-TERM INVESTMENTS - 4.8%** | **SHORT-TERM INVESTMENTS - 4.8%** |  |  |
| **Short-term funds - 2.8%** | **Short-term funds - 2.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;1584624 | &nbsp;&nbsp;&nbsp;15839582 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| **Repurchase agreement - 2.0%** | **Repurchase agreement - 2.0%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 12-30-22 at 4.290% to be repurchased at $11,205,339 on 1-3-23, collateralized by $11,447,324 Federal National Mortgage Association, 3.500% - 4.500% due 8-1-48 to 4-1-52 (valued at $11,424,000) | $11200000 | &nbsp;&nbsp;&nbsp;11200000 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $27,039,856) | TOTAL SHORT-TERM INVESTMENTS (Cost $27,039,856) | $&nbsp;&nbsp;&nbsp;27039582 |  |
| **Total Investments (Mid Cap Growth Trust) (Cost $659,271,206) - 102.8%** | **Total Investments (Mid Cap Growth Trust) (Cost $659,271,206) - 102.8%** | $**577540220** | **102.8%** |
| **Other assets and liabilities, net - (2.8)%** | **Other assets and liabilities, net - (2.8)%** | &nbsp;&nbsp;**(15737931)** | &nbsp;&nbsp;**(2.8)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**561802289** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Mid Cap Index Trust

---

| | | |
|:---|:---|:---|
| **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.2%** |  |  |
| **Communication services - 2.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22855604 | &nbsp;&nbsp;&nbsp;2.0% |

---

#### Mid Cap Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Consumer discretionary - 13.6%** | **Consumer discretionary - 13.6%** |  |  |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14218 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5675257 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5273910 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5712554 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138052857 | &nbsp;&nbsp;&nbsp;12.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154714578 |  |
| **Consumer staples - 3.9%** | **Consumer staples - 3.9%** |  |  |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800371 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489917 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5388749 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Performance Food Group Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4882922 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24890004 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44451963 |  |
| **Energy - 3.8%** | **Energy - 3.8%** |  |  |
| Antero Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4596778 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| NOV, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4407999 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34046804 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43051581 |  |
| **Financials - 14.7%** | **Financials - 14.7%** |  |  |
| American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5148686 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5298079 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4618132 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4989619 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7062395 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101457 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4324983 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4425154 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126122141 | &nbsp;&nbsp;&nbsp;11.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167090646 |  |
| **Health care - 9.9%** | **Health care - 9.9%** |  |  |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5388661 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6168120 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538629 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4696490 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6808477 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84662879 | &nbsp;&nbsp;&nbsp;&nbsp;7.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112263256 |  |
| **Industrials - 19.2%** | **Industrials - 19.2%** |  |  |
| AECOM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6371279 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4612968 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6026246 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5129478 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Carlisle Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6546593 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Graco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6089182 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770518 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4524241 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4481502 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| The Toro Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336596 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4456279 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156613722 | &nbsp;&nbsp;&nbsp;13.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217958604 |  |
| **Information technology - 11.8%** | **Information technology - 11.8%** |  |  |
| Cognex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4376331 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8031136 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4932633 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4776855 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299168 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Information technology (continued)** | **Information technology (continued)** |  |  |
| Wolfspeed, Inc. (A) | &nbsp;&nbsp;66726 | $&nbsp;&nbsp;&nbsp;&nbsp;4606763 | 0.4% |
| OTHER SECURITIES |  | 102176016 | 9.1% |
|  |  | 133198902 |  |
| **Materials - 6.4%** | **Materials - 6.4%** |  |  |
| Alcoa Corp. | &nbsp;&nbsp;95048 | &nbsp;&nbsp;&nbsp;&nbsp;4321833 | 0.4% |
| Cleveland-Cliffs, Inc. (A) | 276814 | &nbsp;&nbsp;&nbsp;&nbsp;4459474 | 0.4% |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;31528 | &nbsp;&nbsp;&nbsp;&nbsp;6382528 | 0.6% |
| RPM International, Inc. | &nbsp;&nbsp;69350 | &nbsp;&nbsp;&nbsp;&nbsp;6758158 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;50107981 | 4.4% |
|  |  | &nbsp;&nbsp;&nbsp;72029974 |  |
| **Real estate - 7.9%** | **Real estate - 7.9%** |  |  |
| CubeSmart | 120639 | &nbsp;&nbsp;&nbsp;&nbsp;4855720 | 0.4% |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;46876 | &nbsp;&nbsp;&nbsp;&nbsp;4425094 | 0.4% |
| Life Storage, Inc. | &nbsp;&nbsp;45660 | &nbsp;&nbsp;&nbsp;&nbsp;4497510 | 0.4% |
| National Retail Properties, Inc. | &nbsp;&nbsp;96013 | &nbsp;&nbsp;&nbsp;&nbsp;4393555 | 0.4% |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;98570 | &nbsp;&nbsp;&nbsp;&nbsp;5385865 | 0.5% |
| STORE Capital Corp. | 142744 | &nbsp;&nbsp;&nbsp;&nbsp;4576373 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;61596855 | 5.4% |
|  |  | &nbsp;&nbsp;&nbsp;89730972 |  |
| **Utilities - 4.0%** | **Utilities - 4.0%** |  |  |
| Essential Utilities, Inc. | 128219 | &nbsp;&nbsp;&nbsp;&nbsp;6119893 | 0.5% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Utilities (continued)** | **Utilities (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;38830657 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;44950550 |  |
| TOTAL COMMON STOCKS (Cost $965,851,484) | TOTAL COMMON STOCKS (Cost $965,851,484) | $1102296630 |  |
| **SHORT-TERM INVESTMENTS - 3.3%** | **SHORT-TERM INVESTMENTS - 3.3%** |  |  |
| **Short-term funds - 3.3%** | **Short-term funds - 3.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 3792295 | &nbsp;&nbsp;&nbsp;&nbsp;37907021 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $37,901,333) | TOTAL SHORT-TERM INVESTMENTS (Cost $37,901,333) | $&nbsp;&nbsp;&nbsp;&nbsp;37907021 |  |
| **Total Investments (Mid Cap Index Trust) (Cost $1,003,752,817) - 100.5%** | **Total Investments (Mid Cap Index Trust) (Cost $1,003,752,817) - 100.5%** | $**1140203651** | **100.5%** |
| **Other assets and liabilities, net - (0.5)%** | **Other assets and liabilities, net - (0.5)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5939320)** | &nbsp;&nbsp;**(0.5)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**1134264331** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $4,111,681. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$33411797 | &nbsp;&nbsp;&nbsp;&nbsp;$32975100 | &nbsp;&nbsp;&nbsp;&nbsp;$(436697) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(436697)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Mid Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 95.5%** | **COMMON STOCKS - 95.5%** |  |  |
| **Communication services - 5.0%** | **Communication services - 5.0%** |  |  |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722258 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13145096 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15087094 | &nbsp;&nbsp;&nbsp;&nbsp;2.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28232190 |  |
| **Consumer discretionary - 8.8%** | **Consumer discretionary - 8.8%** |  |  |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6038193 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5034268 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| General Motors Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474338 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9329499 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23922831 | &nbsp;&nbsp;&nbsp;&nbsp;4.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49799129 |  |
| **Consumer staples - 7.9%** | **Consumer staples - 7.9%** |  |  |
| Bunge, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5137556 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510154 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Flowers Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11540834 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8659950 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14040879 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44889373 |  |

---

#### Mid Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Energy - 8.8%** | **Energy - 8.8%** |  |  |
| Cameco Corp. | &nbsp;&nbsp;258538 | $&nbsp;&nbsp;&nbsp;5861056 | 1.0% |
| Equitrans Midstream Corp. | &nbsp;&nbsp;842535 | &nbsp;&nbsp;&nbsp;5644985 | 1.0% |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;301199 | &nbsp;&nbsp;&nbsp;5460738 | 1.0% |
| TechnipFMC PLC (A) | 1135607 | 13843049 | 2.4% |
| Tidewater, Inc. (A) | &nbsp;&nbsp;219099 | &nbsp;&nbsp;&nbsp;8073798 | 1.4% |
| OTHER SECURITIES |  | 11343269 | 2.0% |
|  |  | 50226895 |  |
| **Financials - 15.6%** | **Financials - 15.6%** |  |  |
| Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92643 | &nbsp;&nbsp;&nbsp;5277872 | 0.9% |
| CNA Financial Corp. | &nbsp;&nbsp;128722 | &nbsp;&nbsp;&nbsp;5442366 | 1.0% |
| Fifth Third Bancorp | &nbsp;&nbsp;336942 | 11055067 | 2.0% |
| Kemper Corp. | &nbsp;&nbsp;120362 | &nbsp;&nbsp;&nbsp;5921810 | 1.0% |
| Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;97240 | &nbsp;&nbsp;&nbsp;5672009 | 1.0% |
| Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88960 | &nbsp;&nbsp;&nbsp;5899827 | 1.0% |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;53200 | &nbsp;&nbsp;&nbsp;9801036 | 1.7% |
| Signature Bank | &nbsp;&nbsp;&nbsp;&nbsp;44957 | &nbsp;&nbsp;&nbsp;5179946 | 0.9% |
| State Street Corp. | &nbsp;&nbsp;113975 | &nbsp;&nbsp;&nbsp;8841041 | 1.6% |
| Webster Financial Corp. | &nbsp;&nbsp;148499 | &nbsp;&nbsp;&nbsp;7029943 | 1.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;18371453 | 3.3% |
|  |  | &nbsp;&nbsp;&nbsp;88492370 |  |
| **Health care - 10.8%** | **Health care - 10.8%** |  |  |
| Centene Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;66904 | &nbsp;&nbsp;&nbsp;&nbsp;5486797 | 1.0% |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;26618 | &nbsp;&nbsp;&nbsp;&nbsp;5800062 | 1.0% |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;174201 | &nbsp;&nbsp;&nbsp;&nbsp;5546560 | 1.0% |
| Koninklijke Philips NV, NYRS | &nbsp;&nbsp;330617 | &nbsp;&nbsp;&nbsp;&nbsp;4955949 | 0.9% |
| Select Medical Holdings Corp. | &nbsp;&nbsp;554205 | &nbsp;&nbsp;&nbsp;13760910 | 2.4% |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74793 | &nbsp;&nbsp;&nbsp;&nbsp;9536108 | 1.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;16266256 | 2.8% |
|  |  | &nbsp;&nbsp;&nbsp;61352642 |  |
| **Industrials - 13.7%** | **Industrials - 13.7%** |  |  |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39363 | &nbsp;&nbsp;&nbsp;&nbsp;6863333 | 1.2% |
| PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66591 | &nbsp;&nbsp;&nbsp;&nbsp;6590511 | 1.2% |
| Rolls-Royce Holdings PLC (A) | 4963980 | &nbsp;&nbsp;&nbsp;&nbsp;5544639 | 1.0% |
| Spirit AeroSystems Holdings, Inc., Class A | &nbsp;&nbsp;178057 | &nbsp;&nbsp;&nbsp;&nbsp;5270487 | 0.9% |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;116604 | &nbsp;&nbsp;&nbsp;&nbsp;8759292 | 1.5% |
| Textron, Inc. | &nbsp;&nbsp;156926 | &nbsp;&nbsp;&nbsp;11110361 | 2.0% |
| The Middleby Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38656 | &nbsp;&nbsp;&nbsp;&nbsp;5176038 | 0.9% |
| Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;34582 | &nbsp;&nbsp;&nbsp;&nbsp;5812888 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;22953526 | 4.0% |
|  |  | &nbsp;&nbsp;&nbsp;78081075 |  |
| **Information technology - 6.2%** | **Information technology - 6.2%** |  |  |
| Marvell Technology, Inc. | &nbsp;&nbsp;143939 | &nbsp;&nbsp;&nbsp;&nbsp;5331501 | 0.9% |
| Western Digital Corp. (A) | &nbsp;&nbsp;322786 | &nbsp;&nbsp;&nbsp;10183899 | 1.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;19963341 | 3.5% |
|  |  | &nbsp;&nbsp;&nbsp;35478741 |  |
| **Materials - 7.6%** | **Materials - 7.6%** |  |  |
| Franco-Nevada Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38238 | &nbsp;&nbsp;&nbsp;&nbsp;5212399 | 0.9% |
| Fresnillo PLC | &nbsp;&nbsp;485115 | &nbsp;&nbsp;&nbsp;&nbsp;5300457 | 0.9% |
| Summit Materials, Inc., Class A (A) | &nbsp;&nbsp;241103 | &nbsp;&nbsp;&nbsp;&nbsp;6844927 | 1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;25726761 | 4.6% |
|  |  | &nbsp;&nbsp;&nbsp;43084544 |  |
| **Real estate - 6.2%** | **Real estate - 6.2%** |  |  |
| Rayonier, Inc. | &nbsp;&nbsp;159827 | &nbsp;&nbsp;&nbsp;&nbsp;5267898 | 0.9% |
| Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81171 | &nbsp;&nbsp;&nbsp;&nbsp;5073188 | 0.9% |
| Weyerhaeuser Company | &nbsp;&nbsp;170984 | &nbsp;&nbsp;&nbsp;&nbsp;5300504 | 0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;19776989 | 3.5% |
|  |  | &nbsp;&nbsp;&nbsp;35418579 |  |
| **Utilities - 4.9%** | **Utilities - 4.9%** |  |  |
| FirstEnergy Corp. | &nbsp;&nbsp;290461 | &nbsp;&nbsp;&nbsp;12181934 | 2.1% |
| PG&E Corp. (A) | &nbsp;&nbsp;779952 | &nbsp;&nbsp;&nbsp;12682020 | 2.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3087471 | 0.6% |
|  |  | &nbsp;&nbsp;&nbsp;27951425 |  |
| TOTAL COMMON STOCKS (Cost $504,227,997) | TOTAL COMMON STOCKS (Cost $504,227,997) | $543006963 |  |
| **SHORT-TERM INVESTMENTS - 6.4%** | **SHORT-TERM INVESTMENTS - 6.4%** |  |  |
| **Short-term funds - 6.4%** | **Short-term funds - 6.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 1304933 | &nbsp;&nbsp;&nbsp;13043847 | 2.3% |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (B) | 9739850 | &nbsp;&nbsp;&nbsp;&nbsp;9739850 | 1.7% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |  |
| **Short-term funds (continued)** | **Short-term funds (continued)** |  |  |
| T. Rowe Price Government Reserve Fund, 4.2602% (B) | 13825689 | $&nbsp;&nbsp;&nbsp;13825689 | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
|  |  | &nbsp;&nbsp;&nbsp;36609386 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $36,608,582) | TOTAL SHORT-TERM INVESTMENTS (Cost $36,608,582) | $&nbsp;&nbsp;&nbsp;36609386 |  |
| **Total Investments (Mid Value Trust) (Cost $540,836,579) - 101.9%** | **Total Investments (Mid Value Trust) (Cost $540,836,579) - 101.9%** | $**579616349** | **101.9%** |
| **Other assets and liabilities, net - (1.9)%** | **Other assets and liabilities, net - (1.9)%** | &nbsp;&nbsp;**(10646325)** | &nbsp;&nbsp;**(1.9)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**568970024** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Real Estate Securities Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.4%** | **COMMON STOCKS - 97.4%** |  |  |
| **Consumer discretionary - 1.1%** | **Consumer discretionary - 1.1%** |  |  |
| Hyatt Hotels Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33801 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057300 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| **Industrials - 1.2%** | **Industrials - 1.2%** |  |  |
| WillScot Mobile Mini Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551717 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| **Real estate - 95.1%** | **Real estate - 95.1%** |  |  |
| Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8910936 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4918111 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6371837 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8733929 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12128698 | &nbsp;&nbsp;&nbsp;&nbsp;4.2% |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8151679 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4541342 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012948 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Corporate Office Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5097599 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659593 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4938155 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16037755 | &nbsp;&nbsp;&nbsp;&nbsp;5.6% |
| Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10407423 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392485 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3783990 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761938 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5863514 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2780399 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078304 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022637 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9027954 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| Life Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5484480 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5013780 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6422064 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786062 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Real Estate Securities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Real estate (continued)** | **Real estate (continued)** |  |  |
| Prologis, Inc. | &nbsp;&nbsp;284349 | $&nbsp;&nbsp;&nbsp;32054662 | &nbsp;&nbsp;&nbsp;11.2% |
| Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;46210 | &nbsp;&nbsp;&nbsp;12947580 | &nbsp;&nbsp;&nbsp;&nbsp;4.5% |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57961 | &nbsp;&nbsp;&nbsp;&nbsp;4740051 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50380 | &nbsp;&nbsp;&nbsp;&nbsp;5918642 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| Spirit Realty Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63305 | &nbsp;&nbsp;&nbsp;&nbsp;2527769 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93136 | &nbsp;&nbsp;&nbsp;13318448 | &nbsp;&nbsp;&nbsp;&nbsp;4.6% |
| Tanger Factory Outlet Centers, Inc. | &nbsp;&nbsp;258120 | &nbsp;&nbsp;&nbsp;&nbsp;4630673 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Veris Residential, Inc. (A) | &nbsp;&nbsp;254131 | &nbsp;&nbsp;&nbsp;&nbsp;4048307 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| VICI Properties, Inc. | &nbsp;&nbsp;352378 | &nbsp;&nbsp;&nbsp;11417047 | &nbsp;&nbsp;&nbsp;&nbsp;4.0% |
| Welltower, Inc. | &nbsp;&nbsp;217900 | &nbsp;&nbsp;&nbsp;14283345 | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| WP Carey, Inc. | &nbsp;&nbsp;120187 | &nbsp;&nbsp;&nbsp;&nbsp;9392614 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
|  |  | 272606750 |  |
| TOTAL COMMON STOCKS (Cost $293,402,315) | TOTAL COMMON STOCKS (Cost $293,402,315) | $279215767 |  |
| **SHORT-TERM INVESTMENTS - 2.1%** | **SHORT-TERM INVESTMENTS - 2.1%** |  |  |
| **Short-term funds - 2.1%** | **Short-term funds - 2.1%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (B) | 5967655 | &nbsp;&nbsp;&nbsp;&nbsp;5967655 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,967,655) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,967,655) | $&nbsp;&nbsp;&nbsp;&nbsp;5967655 |  |
| **Total Investments (Real Estate Securities Trust) (Cost $299,369,970) - 99.5%** | **Total Investments (Real Estate Securities Trust) (Cost $299,369,970) - 99.5%** | $**285183422** | &nbsp;&nbsp;**99.5%** |
| **Other assets and liabilities, net - 0.5%** | **Other assets and liabilities, net - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**1344977** | &nbsp;&nbsp;&nbsp;**0.5%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**286528399** | **100.0%** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 12-31-22.

#### Science & Technology Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 95.4%** | **COMMON STOCKS - 95.4%** |  |  |
| **Communication services - 13.2%** | **Communication services - 13.2%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30959907 | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
| Baidu, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11464422 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| CTS Eventim AG & Company KGaA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472711 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33840210 | &nbsp;&nbsp;&nbsp;&nbsp;5.5% |
| Pinterest, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858480 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473857 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82069587 |  |
| **Consumer discretionary - 27.9%** | **Consumer discretionary - 27.9%** |  |  |
| Alibaba Group Holding, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20396975 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35069829 | &nbsp;&nbsp;&nbsp;&nbsp;5.6% |
| Auto1 Group SE (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4274807 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13859081 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| Coupang, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7479976 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Deliveroo PLC (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435840 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Delivery Hero SE (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21587547 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319662 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8602001 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| MercadoLibre, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285694 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Naspers, Ltd., N Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5825137 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |

---

#### Science & Technology Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |  |  |
| Tongcheng Travel Holdings, Ltd. (A) | &nbsp;&nbsp;1207200 | $&nbsp;&nbsp;&nbsp;&nbsp;2883464 | 0.5% |
| Trip.com Group, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;102362 | &nbsp;&nbsp;&nbsp;&nbsp;3521253 | 0.6% |
| Warby Parker, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;196663 | &nbsp;&nbsp;&nbsp;&nbsp;2652984 | 0.4% |
| Wayfair, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38590 | &nbsp;&nbsp;&nbsp;&nbsp;1269225 | 0.2% |
| Zalando SE (A)(B) | &nbsp;&nbsp;1006149 | &nbsp;&nbsp;&nbsp;35421273 | 5.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1496042 | 0.3% |
|  |  | 173380790 |  |
| **Health care - 0.4%** | **Health care - 0.4%** |  |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13095 | &nbsp;&nbsp;&nbsp;&nbsp;2113271 | 0.4% |
| **Information technology - 53.6%** | **Information technology - 53.6%** |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97759 | &nbsp;&nbsp;&nbsp;26086012 | 4.2% |
| Advanced Micro Devices, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;374935 | &nbsp;&nbsp;&nbsp;24284540 | 3.9% |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp;1706158 | 0.3% |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70579 | &nbsp;&nbsp;&nbsp;&nbsp;8564762 | 1.4% |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9325 | &nbsp;&nbsp;&nbsp;&nbsp;5095180 | 0.8% |
| Fortinet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;268724 | &nbsp;&nbsp;&nbsp;13137916 | 2.1% |
| Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;125018 | &nbsp;&nbsp;&nbsp;&nbsp;2679136 | 0.4% |
| HubSpot, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11346 | &nbsp;&nbsp;&nbsp;&nbsp;3280469 | 0.5% |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24466 | &nbsp;&nbsp;&nbsp;&nbsp;9522657 | 1.5% |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16767 | &nbsp;&nbsp;&nbsp;&nbsp;7047170 | 1.1% |
| Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;149015 | &nbsp;&nbsp;&nbsp;&nbsp;5519516 | 0.9% |
| Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;132678 | &nbsp;&nbsp;&nbsp;&nbsp;6631246 | 1.1% |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;229872 | &nbsp;&nbsp;&nbsp;55127903 | 8.9% |
| MongoDB, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23732 | &nbsp;&nbsp;&nbsp;&nbsp;4671407 | 0.7% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;201014 | &nbsp;&nbsp;&nbsp;29376186 | 4.7% |
| Pure Storage, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;684125 | &nbsp;&nbsp;&nbsp;18307185 | 2.9% |
| Qualcomm, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;169390 | &nbsp;&nbsp;&nbsp;18622737 | 3.0% |
| Qualtrics International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;815325 | &nbsp;&nbsp;&nbsp;&nbsp;8463074 | 1.4% |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;341302 | &nbsp;&nbsp;&nbsp;45253232 | 7.3% |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;120875 | &nbsp;&nbsp;&nbsp;&nbsp;5305596 | 0.9% |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15721 | &nbsp;&nbsp;&nbsp;&nbsp;6103993 | 1.0% |
| Taiwan Semiconductor Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;1045689 | 0.2% |
| TeamViewer AG (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;341979 | &nbsp;&nbsp;&nbsp;&nbsp;4386739 | 0.7% |
| Western Digital Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62381 | &nbsp;&nbsp;&nbsp;&nbsp;1968121 | 0.3% |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68113 | &nbsp;&nbsp;&nbsp;11397348 | 1.8% |
| Zoom Video Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;142614 | &nbsp;&nbsp;&nbsp;&nbsp;9660672 | 1.6% |
|  |  | 333244644 |  |
| **Real estate - 0.3%** | **Real estate - 0.3%** |  |  |
| KE Holdings, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;127121 | &nbsp;&nbsp;&nbsp;&nbsp;1774609 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243360 | 0.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2017969 |  |
| TOTAL COMMON STOCKS (Cost $679,783,270) | TOTAL COMMON STOCKS (Cost $679,783,270) | $592826261 |  |
| **SHORT-TERM INVESTMENTS - 5.1%** | **SHORT-TERM INVESTMENTS - 5.1%** |  |  |
| **Short-term funds - 5.1%** | **Short-term funds - 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;294735 | &nbsp;&nbsp;&nbsp;&nbsp;2946108 | 0.5% |
| T. Rowe Price Government Reserve Fund, 4.2602% (D) | 28393649 | &nbsp;&nbsp;&nbsp;28393649 | 4.6% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Science & Technology Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |  |
| **Short-term funds (continued)** | **Short-term funds (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12351 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
|  |  | &nbsp;&nbsp;&nbsp;31352108 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $31,351,916) | TOTAL SHORT-TERM INVESTMENTS (Cost $31,351,916) | $&nbsp;&nbsp;&nbsp;31352108 |  |
| **Total Investments (Science & Technology Trust) (Cost $711,135,186) - 100.5%** | **Total Investments (Science & Technology Trust) (Cost $711,135,186) - 100.5%** | $**624178369** | **100.5%** |
| **Other assets and liabilities, net - (0.5)%** | **Other assets and liabilities, net - (0.5)%** | &nbsp;&nbsp;&nbsp;**(2874857)** | &nbsp;&nbsp;**(0.5)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**621303512** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $70,812,364 or 11.4% of the fund's net assets as of 12-31-22. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Index Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.0%** | **COMMON STOCKS - 96.0%** |  |  |
| **Communication services - 2.5%** | **Communication services - 2.5%** |  |  |
| Iridium Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25978 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335269 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968658 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9865486 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12169413 |  |
| **Consumer discretionary - 10.0%** | **Consumer discretionary - 10.0%** |  |  |
| Crocs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359929 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144282 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210967 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250835 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44204497 | &nbsp;&nbsp;&nbsp;&nbsp;8.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49170510 |  |
| **Consumer staples - 3.4%** | **Consumer staples - 3.4%** |  |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194067 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15795509 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16989576 |  |
| **Energy - 6.5%** | **Energy - 6.5%** |  |  |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208390 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157276 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047067 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Matador Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331116 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307977 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26108804 | &nbsp;&nbsp;&nbsp;&nbsp;5.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32160630 |  |
| **Financials - 16.5%** | **Financials - 16.5%** |  |  |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128259 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162456 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081875 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049897 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087156 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| SouthState Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177604 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |

---

#### Small Cap Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| United Bankshares, Inc. | 26912 | $&nbsp;&nbsp;&nbsp;1089667 | &nbsp;&nbsp;&nbsp;0.2% |
| Valley National Bancorp | 88966 | &nbsp;&nbsp;&nbsp;1006205 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | 72399916 | 14.9% |
|  |  | 81183035 |  |
| **Health care - 16.2%** | **Health care - 16.2%** |  |  |
| Apellis Pharmaceuticals, Inc. (A) | 19384 | &nbsp;&nbsp;&nbsp;1002347 | &nbsp;&nbsp;&nbsp;0.2% |
| Halozyme Therapeutics, Inc. (A) | 27606 | &nbsp;&nbsp;&nbsp;1570781 | &nbsp;&nbsp;&nbsp;0.3% |
| HealthEquity, Inc. (A) | 17128 | &nbsp;&nbsp;&nbsp;1055770 | &nbsp;&nbsp;&nbsp;0.2% |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;5828 | &nbsp;&nbsp;&nbsp;1467957 | &nbsp;&nbsp;&nbsp;0.3% |
| Intra-Cellular Therapies, Inc. (A) | 18933 | &nbsp;&nbsp;&nbsp;1001934 | &nbsp;&nbsp;&nbsp;0.2% |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;6243 | &nbsp;&nbsp;&nbsp;1226750 | &nbsp;&nbsp;&nbsp;0.3% |
| LHC Group, Inc. (A) | &nbsp;&nbsp;6127 | &nbsp;&nbsp;&nbsp;&nbsp;990675 | &nbsp;&nbsp;&nbsp;0.2% |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;5244 | &nbsp;&nbsp;&nbsp;1113878 | &nbsp;&nbsp;&nbsp;0.2% |
| Option Care Health, Inc. (A) | 32291 | &nbsp;&nbsp;&nbsp;&nbsp;971636 | &nbsp;&nbsp;&nbsp;0.2% |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;7355 | &nbsp;&nbsp;&nbsp;1512262 | &nbsp;&nbsp;&nbsp;0.3% |
| The Ensign Group, Inc. | 11099 | &nbsp;&nbsp;&nbsp;1050076 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | 67005189 | 13.6% |
|  |  | 79969255 |  |
| **Industrials - 15.0%** | **Industrials - 15.0%** |  |  |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;7853 | &nbsp;&nbsp;&nbsp;&nbsp;989714 | &nbsp;&nbsp;&nbsp;0.2% |
| Atkore, Inc. (A) | &nbsp;&nbsp;8494 | &nbsp;&nbsp;&nbsp;&nbsp;963389 | &nbsp;&nbsp;&nbsp;0.2% |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;8823 | &nbsp;&nbsp;&nbsp;1016674 | &nbsp;&nbsp;&nbsp;0.2% |
| EMCOR Group, Inc. | &nbsp;&nbsp;9843 | &nbsp;&nbsp;&nbsp;1457847 | &nbsp;&nbsp;&nbsp;0.3% |
| Evoqua Water Technologies Corp. (A) | 24405 | &nbsp;&nbsp;&nbsp;&nbsp;966438 | &nbsp;&nbsp;&nbsp;0.2% |
| Exponent, Inc. | 10542 | &nbsp;&nbsp;&nbsp;1044607 | &nbsp;&nbsp;&nbsp;0.2% |
| Fluor Corp. (A) | 29371 | &nbsp;&nbsp;&nbsp;1017999 | &nbsp;&nbsp;&nbsp;0.2% |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;5881 | &nbsp;&nbsp;&nbsp;1231187 | &nbsp;&nbsp;&nbsp;0.3% |
| Saia, Inc. (A) | &nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;1150724 | &nbsp;&nbsp;&nbsp;0.2% |
| UFP Industries, Inc. | 12336 | &nbsp;&nbsp;&nbsp;&nbsp;977628 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | 62909239 | 12.8% |
|  |  | 73725446 |  |
| **Information technology - 12.2%** | **Information technology - 12.2%** |  |  |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;6658 | &nbsp;&nbsp;&nbsp;1128065 | &nbsp;&nbsp;&nbsp;0.2% |
| Fabrinet (A) | &nbsp;&nbsp;7595 | &nbsp;&nbsp;&nbsp;&nbsp;973831 | &nbsp;&nbsp;&nbsp;0.2% |
| Novanta, Inc. (A) | &nbsp;&nbsp;7333 | &nbsp;&nbsp;&nbsp;&nbsp;996335 | &nbsp;&nbsp;&nbsp;0.2% |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;7436 | &nbsp;&nbsp;&nbsp;&nbsp;955005 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | 56064212 | 11.4% |
|  |  | 60117448 |  |
| **Materials - 4.1%** | **Materials - 4.1%** |  |  |
| Commercial Metals Company | 24307 | &nbsp;&nbsp;&nbsp;1174028 | &nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | 19155944 | &nbsp;&nbsp;&nbsp;3.9% |
|  |  | 20329972 |  |
| **Real estate - 6.2%** | **Real estate - 6.2%** |  |  |
| Agree Realty Corp. | 17890 | &nbsp;&nbsp;&nbsp;1268938 | &nbsp;&nbsp;&nbsp;0.3% |
| Kite Realty Group Trust | 44964 | &nbsp;&nbsp;&nbsp;&nbsp;946492 | &nbsp;&nbsp;&nbsp;0.2% |
| STAG Industrial, Inc. | 37212 | &nbsp;&nbsp;&nbsp;1202320 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | 26964481 | &nbsp;&nbsp;&nbsp;5.4% |
|  |  | 30382231 |  |
| **Utilities - 3.4%** | **Utilities - 3.4%** |  |  |
| New Jersey Resources Corp. | 19820 | &nbsp;&nbsp;&nbsp;&nbsp;983468 | &nbsp;&nbsp;&nbsp;0.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Utilities (continued)** | **Utilities (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;15595545 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
|  |  | &nbsp;&nbsp;&nbsp;16579013 |  |
| TOTAL COMMON STOCKS (Cost $436,343,202) | TOTAL COMMON STOCKS (Cost $436,343,202) | $472776529 |  |
| **RIGHTS - 0.0%** | **RIGHTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL RIGHTS (Cost $0) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |
| **WARRANTS - 0.0%** | **WARRANTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24674 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $0) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24674 |  |
| **SHORT-TERM INVESTMENTS - 5.1%** | **SHORT-TERM INVESTMENTS - 5.1%** |  |  |
| **Short-term funds - 5.1%** | **Short-term funds - 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 2484985 | &nbsp;&nbsp;&nbsp;24839413 | &nbsp;&nbsp;&nbsp;&nbsp;5.1% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $24,833,272) | TOTAL SHORT-TERM INVESTMENTS (Cost $24,833,272) | $&nbsp;&nbsp;&nbsp;24839413 |  |
| **Total Investments (Small Cap Index Trust) (Cost $461,176,474) - 101.1%** | **Total Investments (Small Cap Index Trust) (Cost $461,176,474) - 101.1%** | $**497640616** | **101.1%** |
| **Other assets and liabilities, net - (1.1)%** | **Other assets and liabilities, net - (1.1)%** | &nbsp;&nbsp;&nbsp;**(5181650)** | &nbsp;&nbsp;**(1.1)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**492458966** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $5,412,941. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$20667452 | &nbsp;&nbsp;&nbsp;&nbsp;$20011170 | &nbsp;&nbsp;&nbsp;&nbsp;$(656282) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(656282)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Small Cap Opportunities Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 98.7%** | **COMMON STOCKS - 98.7%** |  |  |
| **Communication services - 1.9%** | **Communication services - 1.9%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874631 | &nbsp;&nbsp;&nbsp;1.9% |
| **Consumer discretionary - 13.9%** | **Consumer discretionary - 13.9%** |  |  |
| BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625646 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760725 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Chuy's Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635250 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969955 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882012 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946608 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790092 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607006 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14956456 | &nbsp;&nbsp;&nbsp;&nbsp;9.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21173750 |  |
| **Consumer staples - 3.6%** | **Consumer staples - 3.6%** |  |  |
| Performance Food Group Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803622 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4747642 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551264 |  |
| **Energy - 7.5%** | **Energy - 7.5%** |  |  |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767191 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Earthstone Energy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684506 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |

---

#### Small Cap Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Energy (continued)** | **Energy (continued)** |  |  |
| Magnolia Oil & Gas Corp., Class A | 29903 | $&nbsp;&nbsp;&nbsp;&nbsp;701225 | &nbsp;&nbsp;&nbsp;0.5% |
| Matador Resources Company | 17819 | &nbsp;&nbsp;&nbsp;1019960 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;8185364 | &nbsp;&nbsp;&nbsp;5.4% |
|  |  | 11358246 |  |
| **Financials - 21.5%** | **Financials - 21.5%** |  |  |
| Ameris Bancorp | 18005 | &nbsp;&nbsp;&nbsp;&nbsp;848756 | &nbsp;&nbsp;&nbsp;0.6% |
| First Horizon Corp. | 25469 | &nbsp;&nbsp;&nbsp;&nbsp;623991 | &nbsp;&nbsp;&nbsp;0.4% |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;7641 | &nbsp;&nbsp;&nbsp;&nbsp;665990 | &nbsp;&nbsp;&nbsp;0.4% |
| Pinnacle Financial Partners, Inc. | 11078 | &nbsp;&nbsp;&nbsp;&nbsp;813125 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | 29773212 | 19.6% |
|  |  | 32725074 |  |
| **Health care - 11.9%** | **Health care - 11.9%** |  |  |
| Acadia Healthcare Company, Inc. (A) | 10789 | &nbsp;&nbsp;&nbsp;&nbsp;888150 | &nbsp;&nbsp;&nbsp;0.6% |
| Albireo Pharma, Inc. (A) | 27015 | &nbsp;&nbsp;&nbsp;&nbsp;583794 | &nbsp;&nbsp;&nbsp;0.4% |
| Azenta, Inc. (A) | 11095 | &nbsp;&nbsp;&nbsp;&nbsp;645951 | &nbsp;&nbsp;&nbsp;0.4% |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;9920 | &nbsp;&nbsp;&nbsp;&nbsp;736758 | &nbsp;&nbsp;&nbsp;0.5% |
| Halozyme Therapeutics, Inc. (A) | 12660 | &nbsp;&nbsp;&nbsp;&nbsp;720354 | &nbsp;&nbsp;&nbsp;0.5% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9922 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611592 | &nbsp;&nbsp;&nbsp;0.4% |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767225 | &nbsp;&nbsp;&nbsp;0.5% |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627899 | &nbsp;&nbsp;&nbsp;0.4% |
| Vericel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;22687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597576 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;12013127 | &nbsp;&nbsp;&nbsp;7.8% |
|  |  | &nbsp;&nbsp;&nbsp;18192426 |  |
| **Industrials - 18.1%** | **Industrials - 18.1%** |  |  |
| Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743400 | &nbsp;&nbsp;&nbsp;0.5% |
| Atkore, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10376 | &nbsp;&nbsp;&nbsp;&nbsp;1176846 | &nbsp;&nbsp;&nbsp;0.8% |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807084 | &nbsp;&nbsp;&nbsp;0.5% |
| Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819474 | &nbsp;&nbsp;&nbsp;0.5% |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660947 | &nbsp;&nbsp;&nbsp;0.4% |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764462 | &nbsp;&nbsp;&nbsp;0.5% |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871315 | &nbsp;&nbsp;&nbsp;0.6% |
| SiteOne Landscape Supply, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797541 | &nbsp;&nbsp;&nbsp;0.5% |
| The Shyft Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871393 | &nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;20111359 | 13.2% |
|  |  | &nbsp;&nbsp;&nbsp;27623821 |  |
| **Information technology - 11.9%** | **Information technology - 11.9%** |  |  |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675104 | &nbsp;&nbsp;&nbsp;0.4% |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614541 | &nbsp;&nbsp;&nbsp;0.4% |
| First Solar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702365 | &nbsp;&nbsp;&nbsp;0.5% |
| Flywire Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;35769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875267 | &nbsp;&nbsp;&nbsp;0.6% |
| Novanta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7414 | &nbsp;&nbsp;&nbsp;&nbsp;1007320 | &nbsp;&nbsp;&nbsp;0.7% |
| Paycor HCM, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;28014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685503 | &nbsp;&nbsp;&nbsp;0.5% |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722149 | &nbsp;&nbsp;&nbsp;0.5% |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709418 | &nbsp;&nbsp;&nbsp;0.5% |
| The Descartes Systems Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696709 | &nbsp;&nbsp;&nbsp;0.5% |
| Thoughtworks Holding, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;68557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698596 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;10701112 | &nbsp;&nbsp;&nbsp;6.8% |
|  |  | &nbsp;&nbsp;&nbsp;18088084 |  |
| **Materials - 6.5%** | **Materials - 6.5%** |  |  |
| Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675200 | &nbsp;&nbsp;&nbsp;0.5% |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606887 | &nbsp;&nbsp;&nbsp;0.4% |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577561 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7993360 | &nbsp;&nbsp;&nbsp;5.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9853008 |  |
| **Real estate - 1.5%** | **Real estate - 1.5%** |  |  |
| STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595215 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1759661 | &nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2354876 |  |
| **Utilities - 0.4%** | **Utilities - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605015 | &nbsp;&nbsp;0.4% |
| TOTAL COMMON STOCKS (Cost $136,008,075) | TOTAL COMMON STOCKS (Cost $136,008,075) | $150400195 |  |
| **PREFERRED SECURITIES - 0.0%** | **PREFERRED SECURITIES - 0.0%** |  |  |
| **Industrials - 0.0%** | **Industrials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39514 | &nbsp;&nbsp;0.0% |
| TOTAL PREFERRED SECURITIES (Cost $37,663) | TOTAL PREFERRED SECURITIES (Cost $37,663) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39514 |  |
| **SHORT-TERM INVESTMENTS - 1.9%** | **SHORT-TERM INVESTMENTS - 1.9%** |  |  |
| **Short-term funds - 1.9%** | **Short-term funds - 1.9%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;91503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914649 | &nbsp;&nbsp;&nbsp;0.6% |
| State Street Institutional Treasury Money Market Fund, Premier Class, 3.7656% (B) | 1856986 | &nbsp;&nbsp;&nbsp;&nbsp;1856986 | &nbsp;&nbsp;&nbsp;1.2% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |  |
| **Short-term funds (continued)** | **Short-term funds (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138086 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2909721 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,909,507) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,909,507) | $&nbsp;&nbsp;&nbsp;&nbsp;2909721 |  |
| **Total Investments (Small Cap Opportunities Trust) (Cost $138,955,245) - 100.6%** | **Total Investments (Small Cap Opportunities Trust) (Cost $138,955,245) - 100.6%** | $**153349430** | **100.6%** |
| **Other assets and liabilities, net - (0.6)%** | **Other assets and liabilities, net - (0.6)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(858877)** | &nbsp;&nbsp;**(0.6)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**152490553** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Stock Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 98.5%** | **COMMON STOCKS - 98.5%** |  |  |
| **Communication services - 2.6%** | **Communication services - 2.6%** |  |  |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39625 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3134338 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341771 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6476109 |  |
| **Consumer discretionary - 10.4%** | **Consumer discretionary - 10.4%** |  |  |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022707 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Crocs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4903205 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547704 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Skyline Champion Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979905 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4448728 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487994 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475953 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429026 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26295222 |  |
| **Consumer staples - 4.9%** | **Consumer staples - 4.9%** |  |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876010 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6352753 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084120 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12312883 |  |
| **Energy - 8.3%** | **Energy - 8.3%** |  |  |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031656 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398442 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Sitio Royalties Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455708 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| SM Energy Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4671260 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| Viper Energy Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4423674 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980740 |  |
| **Financials - 4.7%** | **Financials - 4.7%** |  |  |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756398 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570120 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3008619 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387088 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11722225 |  |
| **Health care - 24.4%** | **Health care - 24.4%** |  |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3652621 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105076 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Stock Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;39129 | $&nbsp;&nbsp;&nbsp;&nbsp;2906111 | &nbsp;&nbsp;&nbsp;1.2% |
| Haemonetics Corp. (A) | &nbsp;&nbsp;47618 | &nbsp;&nbsp;&nbsp;&nbsp;3745156 | &nbsp;&nbsp;&nbsp;1.5% |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;45580 | &nbsp;&nbsp;&nbsp;&nbsp;2897065 | &nbsp;&nbsp;&nbsp;1.1% |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;25406 | &nbsp;&nbsp;&nbsp;&nbsp;6399263 | &nbsp;&nbsp;&nbsp;2.5% |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;12230 | &nbsp;&nbsp;&nbsp;&nbsp;2514610 | &nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;36380593 | 14.5% |
|  |  | &nbsp;&nbsp;&nbsp;61600495 |  |
| **Industrials - 20.7%** | **Industrials - 20.7%** |  |  |
| Acuity Brands, Inc. | &nbsp;&nbsp;23790 | &nbsp;&nbsp;&nbsp;&nbsp;3939862 | &nbsp;&nbsp;&nbsp;1.6% |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;55615 | &nbsp;&nbsp;&nbsp;&nbsp;7009159 | &nbsp;&nbsp;&nbsp;2.8% |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;34899 | &nbsp;&nbsp;&nbsp;&nbsp;2767840 | &nbsp;&nbsp;&nbsp;1.1% |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;30025 | &nbsp;&nbsp;&nbsp;&nbsp;3455277 | &nbsp;&nbsp;&nbsp;1.4% |
| Curtiss-Wright Corp. | &nbsp;&nbsp;20671 | &nbsp;&nbsp;&nbsp;&nbsp;3451850 | &nbsp;&nbsp;&nbsp;1.4% |
| Fluor Corp. (A) | 179050 | &nbsp;&nbsp;&nbsp;&nbsp;6205873 | &nbsp;&nbsp;&nbsp;2.4% |
| The AZEK Company, Inc. (A) | 144479 | &nbsp;&nbsp;&nbsp;&nbsp;2935813 | &nbsp;&nbsp;&nbsp;1.2% |
| TriNet Group, Inc. (A) | &nbsp;&nbsp;52985 | &nbsp;&nbsp;&nbsp;&nbsp;3592383 | &nbsp;&nbsp;&nbsp;1.4% |
| WESCO International, Inc. (A) | &nbsp;&nbsp;29820 | &nbsp;&nbsp;&nbsp;&nbsp;3733464 | &nbsp;&nbsp;&nbsp;1.5% |
| WillScot Mobile Mini Holdings Corp. (A) | &nbsp;&nbsp;74280 | &nbsp;&nbsp;&nbsp;&nbsp;3355228 | &nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;11871920 | &nbsp;&nbsp;&nbsp;4.6% |
|  |  | &nbsp;&nbsp;&nbsp;52318669 |  |
| **Information technology - 16.7%** | **Information technology - 16.7%** |  |  |
| Calix, Inc. (A) | &nbsp;&nbsp;73763 | &nbsp;&nbsp;&nbsp;&nbsp;5047602 | &nbsp;&nbsp;&nbsp;2.0% |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;26527 | &nbsp;&nbsp;&nbsp;&nbsp;4494470 | &nbsp;&nbsp;&nbsp;1.8% |
| Five9, Inc. (A) | &nbsp;&nbsp;38854 | &nbsp;&nbsp;&nbsp;&nbsp;2636632 | &nbsp;&nbsp;&nbsp;1.0% |
| Jamf Holding Corp. (A) | 162192 | &nbsp;&nbsp;&nbsp;&nbsp;3454690 | &nbsp;&nbsp;&nbsp;1.4% |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;43831 | &nbsp;&nbsp;&nbsp;&nbsp;2843755 | &nbsp;&nbsp;&nbsp;1.1% |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;25093 | &nbsp;&nbsp;&nbsp;&nbsp;3046290 | &nbsp;&nbsp;&nbsp;1.2% |
| Novanta, Inc. (A) | &nbsp;&nbsp;22115 | &nbsp;&nbsp;&nbsp;&nbsp;3004765 | &nbsp;&nbsp;&nbsp;1.2% |
| PowerSchool Holdings, Inc., Class A (A) | 156711 | &nbsp;&nbsp;&nbsp;&nbsp;3616890 | &nbsp;&nbsp;&nbsp;1.4% |
| RingCentral, Inc., Class A (A) | &nbsp;&nbsp;85034 | &nbsp;&nbsp;&nbsp;&nbsp;3010204 | &nbsp;&nbsp;&nbsp;1.2% |
| Synaptics, Inc. (A) | &nbsp;&nbsp;34256 | &nbsp;&nbsp;&nbsp;&nbsp;3259801 | &nbsp;&nbsp;&nbsp;1.3% |
| Verra Mobility Corp. (A) | 356606 | &nbsp;&nbsp;&nbsp;&nbsp;4931861 | &nbsp;&nbsp;&nbsp;2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;2909856 | &nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;42256816 |  |
| **Materials - 3.1%** | **Materials - 3.1%** |  |  |
| Cabot Corp. | &nbsp;&nbsp;72185 | &nbsp;&nbsp;&nbsp;&nbsp;4824845 | &nbsp;&nbsp;&nbsp;1.9% |
| Livent Corp. (A) | 148847 | &nbsp;&nbsp;&nbsp;&nbsp;2957590 | &nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7782435 |  |
| **Real estate - 2.7%** | **Real estate - 2.7%** |  |  |
| Phillips Edison & Company, Inc. | 100654 | &nbsp;&nbsp;&nbsp;&nbsp;3204823 | &nbsp;&nbsp;&nbsp;1.3% |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;44794 | &nbsp;&nbsp;&nbsp;&nbsp;3663253 | &nbsp;&nbsp;&nbsp;1.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6868076 |  |
| TOTAL COMMON STOCKS (Cost $253,612,809) | TOTAL COMMON STOCKS (Cost $253,612,809) | $248613670 |  |
| **EXCHANGE-TRADED FUNDS - 0.8%** | **EXCHANGE-TRADED FUNDS - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;1880697 | &nbsp;&nbsp;0.8% |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $1,813,132) | TOTAL EXCHANGE-TRADED FUNDS (Cost $1,813,132) | $&nbsp;&nbsp;&nbsp;&nbsp;1880697 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS - 2.5%** | **SHORT-TERM INVESTMENTS - 2.5%** |  |  |
| **Short-term funds - 2.5%** | **Short-term funds - 2.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 630107 | $&nbsp;&nbsp;&nbsp;&nbsp;6298427 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,298,371) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,298,371) | $&nbsp;&nbsp;&nbsp;&nbsp;6298427 |  |
| **Total Investments (Small Cap Stock Trust) (Cost $261,724,312) - 101.8%** | **Total Investments (Small Cap Stock Trust) (Cost $261,724,312) - 101.8%** | $**256792794** | **101.8%** |
| **Other assets and liabilities, net - (1.8)%** | **Other assets and liabilities, net - (1.8)%** | &nbsp;&nbsp;&nbsp;**(4418292)** | &nbsp;&nbsp;**(1.8)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**252374502** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 97.0%** | **COMMON STOCKS - 97.0%** |  |  |
| **Communication services - 3.1%** | **Communication services - 3.1%** |  |  |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100850 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5316812 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596879 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345688 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13259379 |  |
| **Consumer discretionary - 9.0%** | **Consumer discretionary - 9.0%** |  |  |
| Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272104 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6992291 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6179880 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5413259 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4964083 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10102755 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38924372 |  |
| **Consumer staples - 4.0%** | **Consumer staples - 4.0%** |  |  |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4367050 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4898983 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7943894 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17209927 |  |
| **Energy - 2.5%** | **Energy - 2.5%** |  |  |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5187014 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Sitio Royalties Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5637405 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10824419 |  |
| **Financials - 24.9%** | **Financials - 24.9%** |  |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5240886 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5959839 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Banc of California, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5865235 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4363726 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5912161 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042210 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761762 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5605255 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4416062 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6346203 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5343624 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7317368 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| National Bank Holdings Corp., Class A | 136964 | $&nbsp;&nbsp;&nbsp;&nbsp;5762075 | 1.3% |
| NMI Holdings, Inc., Class A (A) | 231829 | &nbsp;&nbsp;&nbsp;&nbsp;4845226 | 1.1% |
| ProAssurance Corp. | 312488 | &nbsp;&nbsp;&nbsp;&nbsp;5459165 | 1.3% |
| Seacoast Banking Corp. of Florida | 161616 | &nbsp;&nbsp;&nbsp;&nbsp;5040803 | 1.2% |
| Synovus Financial Corp. | 171267 | &nbsp;&nbsp;&nbsp;&nbsp;6431076 | 1.5% |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;3741 | &nbsp;&nbsp;&nbsp;&nbsp;5291009 | 1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7326516 | 1.7% |
|  |  | 107330201 |  |
| **Health care - 5.2%** | **Health care - 5.2%** |  |  |
| Haemonetics Corp. (A) | &nbsp;&nbsp;60884 | &nbsp;&nbsp;&nbsp;&nbsp;4788527 | 1.1% |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;36336 | &nbsp;&nbsp;&nbsp;&nbsp;5722193 | 1.3% |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;80486 | &nbsp;&nbsp;&nbsp;&nbsp;4512850 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7245980 | 1.7% |
|  |  | &nbsp;&nbsp;&nbsp;22269550 |  |
| **Industrials - 18.4%** | **Industrials - 18.4%** |  |  |
| Air Lease Corp. | 168009 | &nbsp;&nbsp;&nbsp;&nbsp;6454906 | 1.5% |
| American Woodmark Corp. (A) | &nbsp;&nbsp;89280 | &nbsp;&nbsp;&nbsp;&nbsp;4362221 | 1.0% |
| GATX Corp. | &nbsp;&nbsp;55894 | &nbsp;&nbsp;&nbsp;&nbsp;5943768 | 1.4% |
| Hexcel Corp. | &nbsp;&nbsp;78168 | &nbsp;&nbsp;&nbsp;&nbsp;4600187 | 1.1% |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;82521 | &nbsp;&nbsp;&nbsp;&nbsp;5991025 | 1.4% |
| ICF International, Inc. | &nbsp;&nbsp;48564 | &nbsp;&nbsp;&nbsp;&nbsp;4810264 | 1.1% |
| Science Applications International Corp. | &nbsp;&nbsp;45109 | &nbsp;&nbsp;&nbsp;&nbsp;5003941 | 1.2% |
| SP Plus Corp. (A) | 220171 | &nbsp;&nbsp;&nbsp;&nbsp;7644337 | 1.8% |
| Thermon Group Holdings, Inc. (A) | 217856 | &nbsp;&nbsp;&nbsp;&nbsp;4374548 | 1.0% |
| UniFirst Corp. | &nbsp;&nbsp;31575 | &nbsp;&nbsp;&nbsp;&nbsp;6093659 | 1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;23963693 | 5.5% |
|  |  | &nbsp;&nbsp;&nbsp;79242549 |  |
| **Information technology - 10.6%** | **Information technology - 10.6%** |  |  |
| ACI Worldwide, Inc. (A) | 258581 | &nbsp;&nbsp;&nbsp;&nbsp;5947363 | 1.4% |
| Belden, Inc. | &nbsp;&nbsp;82999 | &nbsp;&nbsp;&nbsp;&nbsp;5967628 | 1.4% |
| CTS Corp. | 141884 | &nbsp;&nbsp;&nbsp;&nbsp;5593067 | 1.3% |
| ePlus, Inc. (A) | 107805 | &nbsp;&nbsp;&nbsp;&nbsp;4773605 | 1.1% |
| National Instruments Corp. | 129497 | &nbsp;&nbsp;&nbsp;&nbsp;4778439 | 1.1% |
| Progress Software Corp. | 155919 | &nbsp;&nbsp;&nbsp;&nbsp;7866114 | 1.8% |
| WNS Holdings, Ltd., ADR (A) | &nbsp;&nbsp;76978 | &nbsp;&nbsp;&nbsp;&nbsp;6157470 | 1.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;4891005 | 1.1% |
|  |  | &nbsp;&nbsp;&nbsp;45974691 |  |
| **Materials - 8.8%** | **Materials - 8.8%** |  |  |
| Axalta Coating Systems, Ltd. (A) | 191003 | &nbsp;&nbsp;&nbsp;&nbsp;4864846 | 1.1% |
| Element Solutions, Inc. | 442956 | &nbsp;&nbsp;&nbsp;&nbsp;8057370 | 1.9% |
| HB Fuller Company | &nbsp;&nbsp;70056 | &nbsp;&nbsp;&nbsp;&nbsp;5017411 | 1.1% |
| Mativ Holdings, Inc. | 305448 | &nbsp;&nbsp;&nbsp;&nbsp;6383866 | 1.5% |
| TriMas Corp. | 336368 | &nbsp;&nbsp;&nbsp;&nbsp;9330848 | 2.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;4163279 | 1.0% |
|  |  | &nbsp;&nbsp;&nbsp;37817620 |  |
| **Real estate - 7.8%** | **Real estate - 7.8%** |  |  |
| Centerspace | &nbsp;&nbsp;80609 | &nbsp;&nbsp;&nbsp;&nbsp;4729330 | 1.1% |
| Pebblebrook Hotel Trust | 358863 | &nbsp;&nbsp;&nbsp;&nbsp;4805176 | 1.1% |
| Phillips Edison & Company, Inc. | 163690 | &nbsp;&nbsp;&nbsp;&nbsp;5211890 | 1.2% |
| PotlatchDeltic Corp. | 108486 | &nbsp;&nbsp;&nbsp;&nbsp;4772299 | 1.1% |
| RPT Realty | 641504 | &nbsp;&nbsp;&nbsp;&nbsp;6440700 | 1.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7760093 | 1.8% |
|  |  | &nbsp;&nbsp;&nbsp;33719488 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Utilities - 2.7%** | **Utilities - 2.7%** |  |  |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88589 | $&nbsp;&nbsp;&nbsp;&nbsp;4395786 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;7187261 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
|  |  | &nbsp;&nbsp;&nbsp;11583047 |  |
| TOTAL COMMON STOCKS (Cost $405,572,640) | TOTAL COMMON STOCKS (Cost $405,572,640) | $418155243 |  |
| **SHORT-TERM INVESTMENTS - 4.6%** | **SHORT-TERM INVESTMENTS - 4.6%** |  |  |
| **Short-term funds - 1.4%** | **Short-term funds - 1.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;609076 | &nbsp;&nbsp;&nbsp;&nbsp;6088199 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| **Repurchase agreement - 3.2%** | **Repurchase agreement - 3.2%** |  |  |
| Bank of America Tri-Party Repurchase Agreement dated 12-30-22 at 4.300% to be repurchased at $14,006,689 on 1-3-23, collateralized by $14,473,000 Federal Farm Credit Bank, 4.125% due 12-12-25 (valued at $14,280,835) | $14000000 | &nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $20,088,200) | TOTAL SHORT-TERM INVESTMENTS (Cost $20,088,200) | $&nbsp;&nbsp;&nbsp;20088199 |  |
| **Total Investments (Small Cap Value Trust) (Cost $425,660,840) - 101.6%** | **Total Investments (Small Cap Value Trust) (Cost $425,660,840) - 101.6%** | $**438243442** | **101.6%** |
| **Other assets and liabilities, net - (1.6)%** | **Other assets and liabilities, net - (1.6)%** | &nbsp;&nbsp;&nbsp;**(7048445)** | &nbsp;&nbsp;**(1.6)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**431194997** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Company Value Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.2%** | **COMMON STOCKS - 96.2%** |  |  |
| **Communication services - 0.7%** | **Communication services - 0.7%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830656 | &nbsp;&nbsp;&nbsp;0.7% |
| **Consumer discretionary - 8.7%** | **Consumer discretionary - 8.7%** |  |  |
| Meritage Homes Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932142 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053568 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527867 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7762487 | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11276064 |  |
| **Consumer staples - 2.8%** | **Consumer staples - 2.8%** |  |  |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009349 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Nomad Foods, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128548 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455918 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593815 |  |
| **Energy - 6.9%** | **Energy - 6.9%** |  |  |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390292 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569200 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690909 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Matador Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223714 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086856 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8960971 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Financials - 27.2%** | **Financials - 27.2%** |  |  |
| BankUnited, Inc. | 44391 | $&nbsp;&nbsp;&nbsp;1507962 | 1.2% |
| BRP Group, Inc., Class A (A) | 40961 | &nbsp;&nbsp;&nbsp;1029760 | 0.8% |
| Columbia Banking System, Inc. | 38910 | &nbsp;&nbsp;&nbsp;1172358 | 0.9% |
| FB Financial Corp. | 32092 | &nbsp;&nbsp;&nbsp;1159805 | 0.9% |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 34227 | &nbsp;&nbsp;&nbsp;&nbsp;991898 | 0.8% |
| Home BancShares, Inc. | 68368 | &nbsp;&nbsp;&nbsp;1558107 | 1.2% |
| Houlihan Lokey, Inc. | 13722 | &nbsp;&nbsp;&nbsp;1196010 | 0.9% |
| Independent Bank Corp. (Massachusetts) | 12627 | &nbsp;&nbsp;&nbsp;1066098 | 0.8% |
| Live Oak Bancshares, Inc. | 31875 | &nbsp;&nbsp;&nbsp;&nbsp;962625 | 0.7% |
| National Bank Holdings Corp., Class A | 33209 | &nbsp;&nbsp;&nbsp;1397103 | 1.1% |
| PennyMac Financial Services, Inc. | 22546 | &nbsp;&nbsp;&nbsp;1277456 | 1.0% |
| Pinnacle Financial Partners, Inc. | 25682 | &nbsp;&nbsp;&nbsp;1885059 | 1.4% |
| Popular, Inc. | 16862 | &nbsp;&nbsp;&nbsp;1118288 | 0.9% |
| Radian Group, Inc. | 52790 | &nbsp;&nbsp;&nbsp;1006705 | 0.8% |
| Texas Capital Bancshares, Inc. (A) | 17077 | &nbsp;&nbsp;&nbsp;1029914 | 0.8% |
| Towne Bank | 37617 | &nbsp;&nbsp;&nbsp;1160108 | 0.9% |
| Western Alliance Bancorp | 29230 | &nbsp;&nbsp;&nbsp;1740939 | 1.3% |
| WSFS Financial Corp. | 33439 | &nbsp;&nbsp;&nbsp;1516124 | 1.2% |
| OTHER SECURITIES |  | 12421595 | 9.6% |
|  |  | 35197914 |  |
| **Health care - 10.9%** | **Health care - 10.9%** |  |  |
| QuidelOrtho Corp. (A) | 11018 | &nbsp;&nbsp;&nbsp;&nbsp;943912 | 0.7% |
| Select Medical Holdings Corp. | 59021 | &nbsp;&nbsp;&nbsp;1465491 | 1.1% |
| OTHER SECURITIES |  | 11650100 | 9.1% |
|  |  | 14059503 |  |
| **Industrials - 14.3%** | **Industrials - 14.3%** |  |  |
| Beacon Roofing Supply, Inc. (A) | 18009 | &nbsp;&nbsp;&nbsp;&nbsp;950695 | 0.7% |
| ESCO Technologies, Inc. | 11103 | &nbsp;&nbsp;&nbsp;&nbsp;971957 | 0.7% |
| Helios Technologies, Inc. | 17044 | &nbsp;&nbsp;&nbsp;&nbsp;927875 | 0.7% |
| Landstar System, Inc. | &nbsp;&nbsp;6857 | &nbsp;&nbsp;&nbsp;1117005 | 0.9% |
| SPX Technologies, Inc. (A) | 15259 | &nbsp;&nbsp;&nbsp;1001753 | 0.8% |
| UFP Industries, Inc. | 24890 | &nbsp;&nbsp;&nbsp;1972533 | 1.5% |
| Univar Solutions, Inc. (A) | 32373 | &nbsp;&nbsp;&nbsp;1029461 | 0.8% |
| OTHER SECURITIES |  | 10541699 | 8.2% |
|  |  | 18512978 |  |
| **Information technology - 5.8%** | **Information technology - 5.8%** |  |  |
| Belden, Inc. | 16701 | &nbsp;&nbsp;&nbsp;1200802 | 0.9% |
| Littelfuse, Inc. | &nbsp;&nbsp;6041 | &nbsp;&nbsp;&nbsp;1330228 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4956009 | 3.9% |
|  |  | &nbsp;&nbsp;&nbsp;7487039 |  |
| **Materials - 4.6%** | **Materials - 4.6%** |  |  |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;941953 | 0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4937338 | 3.9% |
|  |  | &nbsp;&nbsp;&nbsp;5879291 |  |
| **Real estate - 9.0%** | **Real estate - 9.0%** |  |  |
| Apple Hospitality REIT, Inc. | 77940 | &nbsp;&nbsp;&nbsp;1229893 | 0.9% |
| EastGroup Properties, Inc. | &nbsp;&nbsp;6950 | &nbsp;&nbsp;&nbsp;1029017 | 0.8% |
| PotlatchDeltic Corp. | 20848 | &nbsp;&nbsp;&nbsp;&nbsp;917104 | 0.7% |
| Saul Centers, Inc. | 22487 | &nbsp;&nbsp;&nbsp;&nbsp;914771 | 0.7% |
| Terreno Realty Corp. | 24150 | &nbsp;&nbsp;&nbsp;1373411 | 1.1% |
| The St. Joe Company | 29685 | &nbsp;&nbsp;&nbsp;1147325 | 0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;5052612 | 3.9% |
|  |  | 11664133 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Utilities - 5.3%** | **Utilities - 5.3%** |  |  |
| California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;17909 | $&nbsp;&nbsp;&nbsp;&nbsp;1086002 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20077 | &nbsp;&nbsp;&nbsp;&nbsp;2165304 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24690 | &nbsp;&nbsp;&nbsp;&nbsp;1738176 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1906620 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6896102 |  |
| TOTAL COMMON STOCKS (Cost $109,881,136) | TOTAL COMMON STOCKS (Cost $109,881,136) | $124358466 |  |
| **WARRANTS - 0.0%** | **WARRANTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16266 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $6,099) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16266 |  |
| **SHORT-TERM INVESTMENTS - 4.5%** | **SHORT-TERM INVESTMENTS - 4.5%** |  |  |
| **Short-term funds - 4.5%** | **Short-term funds - 4.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;84715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846797 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (B) | &nbsp;&nbsp;933623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933623 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| T. Rowe Price Government Reserve Fund, 4.2602% (B) | 3996082 | &nbsp;&nbsp;&nbsp;&nbsp;3996082 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5776502 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,776,478) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,776,478) | $&nbsp;&nbsp;&nbsp;&nbsp;5776502 |  |
| **Total Investments (Small Company Value Trust) (Cost $115,663,713) - 100.7%** | **Total Investments (Small Company Value Trust) (Cost $115,663,713) - 100.7%** | $**130151234** | **100.7%** |
| **Other assets and liabilities, net - (0.7)%** | **Other assets and liabilities, net - (0.7)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(937960)** | &nbsp;&nbsp;**(0.7)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**129213274** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Strategic Equity Allocation Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.6%** | **COMMON STOCKS - 96.6%** |  |  |
| **Communication services - 5.6%** | **Communication services - 5.6%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59978754 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53937902 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31114027 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18775794 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220639260 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384445737 |  |
| **Consumer discretionary - 10.1%** | **Consumer discretionary - 10.1%** |  |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84405468 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30720260 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21954421 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37195433 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| The Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36805271 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22065449 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464018035 | &nbsp;&nbsp;&nbsp;&nbsp;6.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697164337 |  |
| **Consumer staples - 7.6%** | **Consumer staples - 7.6%** |  |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22945060 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48447972 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28235351 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Consumer staples (continued)** | **Consumer staples (continued)** |  |  |
| The Coca-Cola Company | &nbsp;&nbsp;440921 | $&nbsp;&nbsp;&nbsp;28046985 | &nbsp;&nbsp;&nbsp;0.4% |
| The Procter & Gamble Company | &nbsp;&nbsp;270682 | &nbsp;&nbsp;&nbsp;41024564 | &nbsp;&nbsp;&nbsp;0.6% |
| Unilever PLC | &nbsp;&nbsp;388211 | &nbsp;&nbsp;&nbsp;19599925 | &nbsp;&nbsp;&nbsp;0.3% |
| Walmart, Inc. | &nbsp;&nbsp;161574 | &nbsp;&nbsp;&nbsp;22909577 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | 310102026 | &nbsp;&nbsp;&nbsp;4.6% |
|  |  | 521311460 |  |
| **Energy - 5.0%** | **Energy - 5.0%** |  |  |
| Chevron Corp. | &nbsp;&nbsp;204142 | &nbsp;&nbsp;&nbsp;36641448 | &nbsp;&nbsp;&nbsp;0.5% |
| Exxon Mobil Corp. | &nbsp;&nbsp;472493 | &nbsp;&nbsp;&nbsp;52115978 | &nbsp;&nbsp;&nbsp;0.8% |
| Shell PLC | 1107956 | &nbsp;&nbsp;&nbsp;31234185 | &nbsp;&nbsp;&nbsp;0.5% |
| TotalEnergies SE (B) | &nbsp;&nbsp;379495 | &nbsp;&nbsp;&nbsp;23822091 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | 201048610 | &nbsp;&nbsp;&nbsp;2.8% |
|  |  | 344862312 |  |
| **Financials - 14.0%** | **Financials - 14.0%** |  |  |
| AIA Group, Ltd. | 1820335 | &nbsp;&nbsp;&nbsp;20102654 | &nbsp;&nbsp;&nbsp;0.3% |
| Bank of America Corp. | &nbsp;&nbsp;792522 | &nbsp;&nbsp;&nbsp;26248329 | &nbsp;&nbsp;&nbsp;0.4% |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;204508 | &nbsp;&nbsp;&nbsp;63172521 | &nbsp;&nbsp;&nbsp;0.9% |
| HSBC Holdings PLC | 3045513 | &nbsp;&nbsp;&nbsp;18874670 | &nbsp;&nbsp;&nbsp;0.3% |
| JPMorgan Chase & Co. | &nbsp;&nbsp;332593 | &nbsp;&nbsp;&nbsp;44600721 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | 794904166 | 11.4% |
|  |  | 967903061 |  |
| **Health care - 14.2%** | **Health care - 14.2%** |  |  |
| Abbott Laboratories | &nbsp;&nbsp;198645 | &nbsp;&nbsp;&nbsp;21809235 | &nbsp;&nbsp;&nbsp;0.3% |
| AbbVie, Inc. | &nbsp;&nbsp;200450 | &nbsp;&nbsp;&nbsp;32394725 | &nbsp;&nbsp;&nbsp;0.5% |
| AstraZeneca PLC | &nbsp;&nbsp;236327 | &nbsp;&nbsp;&nbsp;31979616 | &nbsp;&nbsp;&nbsp;0.5% |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74228 | &nbsp;&nbsp;&nbsp;19701596 | &nbsp;&nbsp;&nbsp;0.3% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;89385 | &nbsp;&nbsp;&nbsp;32700608 | &nbsp;&nbsp;&nbsp;0.5% |
| Johnson & Johnson | &nbsp;&nbsp;298002 | &nbsp;&nbsp;&nbsp;52642053 | &nbsp;&nbsp;&nbsp;0.8% |
| Merck & Company, Inc. | &nbsp;&nbsp;287076 | &nbsp;&nbsp;&nbsp;31851082 | &nbsp;&nbsp;&nbsp;0.5% |
| Novartis AG | &nbsp;&nbsp;329953 | &nbsp;&nbsp;&nbsp;29859895 | &nbsp;&nbsp;&nbsp;0.5% |
| Novo Nordisk A/S, B Shares | &nbsp;&nbsp;252486 | &nbsp;&nbsp;&nbsp;34291528 | &nbsp;&nbsp;&nbsp;0.5% |
| Pfizer, Inc. | &nbsp;&nbsp;636074 | &nbsp;&nbsp;&nbsp;32592432 | &nbsp;&nbsp;&nbsp;0.5% |
| Roche Holding AG | &nbsp;&nbsp;107155 | &nbsp;&nbsp;&nbsp;33672102 | &nbsp;&nbsp;&nbsp;0.5% |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4068 | &nbsp;&nbsp;&nbsp;&nbsp;1576334 | &nbsp;&nbsp;&nbsp;0.0% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44419 | &nbsp;&nbsp;&nbsp;24461099 | &nbsp;&nbsp;&nbsp;0.4% |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;106039 | &nbsp;&nbsp;&nbsp;56219757 | &nbsp;&nbsp;&nbsp;0.8% |
| OTHER SECURITIES |  | 546099632 | &nbsp;&nbsp;&nbsp;7.6% |
|  |  | 981851694 |  |
| **Industrials - 11.5%** | **Industrials - 11.5%** | 796750270 | 11.5% |
| **Information technology - 17.6%** | **Information technology - 17.6%** |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;71850 | &nbsp;&nbsp;&nbsp;19172454 | &nbsp;&nbsp;&nbsp;0.3% |
| Apple, Inc. | 1702069 | 221149825 | &nbsp;&nbsp;&nbsp;3.2% |
| ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;61995 | &nbsp;&nbsp;&nbsp;33802875 | &nbsp;&nbsp;&nbsp;0.5% |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45780 | &nbsp;&nbsp;&nbsp;25596971 | &nbsp;&nbsp;&nbsp;0.4% |
| Cisco Systems, Inc. | &nbsp;&nbsp;469391 | &nbsp;&nbsp;&nbsp;22361787 | &nbsp;&nbsp;&nbsp;0.3% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Information technology (continued)** | **Information technology (continued)** |  |  |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96736 | $&nbsp;&nbsp;&nbsp;&nbsp;33638009 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;845497 | &nbsp;&nbsp;&nbsp;&nbsp;202767091 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;283877 | &nbsp;&nbsp;&nbsp;&nbsp;41485785 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;185380 | &nbsp;&nbsp;&nbsp;&nbsp;38514549 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;576584735 | &nbsp;&nbsp;&nbsp;&nbsp;8.2% |
|  |  | 1215074081 |  |
| **Materials - 4.6%** | **Materials - 4.6%** |  |  |
| BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;772637 | &nbsp;&nbsp;&nbsp;&nbsp;23933931 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56538 | &nbsp;&nbsp;&nbsp;&nbsp;18441565 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;274658065 | &nbsp;&nbsp;&nbsp;&nbsp;3.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;317033561 |  |
| **Real estate - 3.2%** | **Real estate - 3.2%** | &nbsp;&nbsp;&nbsp;&nbsp;218249031 | &nbsp;&nbsp;&nbsp;3.2% |
| **Utilities - 3.2%** | **Utilities - 3.2%** |  |  |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;222876 | &nbsp;&nbsp;&nbsp;&nbsp;18632434 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;205076376 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;223708810 |  |
| TOTAL COMMON STOCKS (Cost $3,989,760,507) | TOTAL COMMON STOCKS (Cost $3,989,760,507) | $6668354354 |  |
| **PREFERRED SECURITIES - 0.1%** | **PREFERRED SECURITIES - 0.1%** |  |  |
| **Consumer discretionary - 0.1%** | **Consumer discretionary - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7302159 | &nbsp;&nbsp;&nbsp;0.1% |
| **Consumer staples - 0.0%** | **Consumer staples - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883434 | &nbsp;&nbsp;&nbsp;0.0% |
| **Health care - 0.0%** | **Health care - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465778 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL PREFERRED SECURITIES (Cost $10,919,590) | TOTAL PREFERRED SECURITIES (Cost $10,919,590) | $&nbsp;&nbsp;&nbsp;&nbsp;10651371 |  |
| **WARRANTS - 0.0%** | **WARRANTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211896 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $15,655) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211896 |  |
| **SHORT-TERM INVESTMENTS - 3.4%** | **SHORT-TERM INVESTMENTS - 3.4%** |  |  |
| **Short-term funds - 3.4%** | **Short-term funds - 3.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 23449033 | &nbsp;&nbsp;&nbsp;&nbsp;234391847 | &nbsp;&nbsp;&nbsp;&nbsp;3.4% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $234,352,801) | TOTAL SHORT-TERM INVESTMENTS (Cost $234,352,801) | $&nbsp;&nbsp;&nbsp;&nbsp;234391847 |  |
| **Total Investments (Strategic Equity Allocation Trust) (Cost $4,235,048,553) - 100.1%** | **Total Investments (Strategic Equity Allocation Trust) (Cost $4,235,048,553) - 100.1%** | $**6913609468** | **100.1%** |
| **Other assets and liabilities, net - (0.1)%** | **Other assets and liabilities, net - (0.1)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8296947)** | &nbsp;&nbsp;**(0.1)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**6905312521** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $45,229,455. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$90140612 | &nbsp;&nbsp;&nbsp;&nbsp;$88892640 | &nbsp;&nbsp;&nbsp;&nbsp;$(1247972) |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17115646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16557915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(557731) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;104268152 | &nbsp;&nbsp;&nbsp;&nbsp;100772100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3496052) |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18525258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18075240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(450018) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(5751773)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)
See Notes to financial statements regarding investment transactions and other derivatives information.

#### Total Stock Market Index Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 96.5%** | **COMMON STOCKS - 96.5%** |  |  |
| **Communication services - 6.8%** | **Communication services - 6.8%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98199 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8664098 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8957648 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2524624 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496143 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595366 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877420 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709774 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13374714 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46199787 |  |
| **Consumer discretionary - 9.8%** | **Consumer discretionary - 9.8%** |  |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14017332 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172901 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2424564 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6323445 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| The Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5296025 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34837706 | &nbsp;&nbsp;&nbsp;&nbsp;5.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66071973 |  |
| **Consumer staples - 6.9%** | **Consumer staples - 6.9%** |  |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312821 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4083458 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570026 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| The Coca-Cola Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4506450 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| The Procter & Gamble Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5932362 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6302424 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20077452 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46784993 |  |
| **Energy - 5.5%** | **Energy - 5.5%** |  |  |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5757321 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2464902 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7532718 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21173204 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36928145 |  |
| **Financials - 12.0%** | **Financials - 12.0%** |  |  |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4360281 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Berkshire Hathaway, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687110 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6610460 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6441359 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2391868 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| The Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481564 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Wells Fargo & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564646 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51723668 | &nbsp;&nbsp;&nbsp;&nbsp;7.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81260956 |  |
| **Health care - 14.5%** | **Health care - 14.5%** |  |  |
| Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3149985 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682327 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301777 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519113 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163010 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893682 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7606902 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| Merck & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4605424 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4711672 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3533778 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |

---

#### Total Stock Market Index Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15318 | $&nbsp;&nbsp;&nbsp;&nbsp;8121297 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;47927462 | &nbsp;&nbsp;&nbsp;&nbsp;6.9% |
|  |  | &nbsp;&nbsp;&nbsp;98216429 |  |
| **Industrials - 9.3%** | **Industrials - 9.3%** |  |  |
| Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11046 | &nbsp;&nbsp;&nbsp;&nbsp;2367158 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24228 | &nbsp;&nbsp;&nbsp;&nbsp;2445090 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;57850993 | &nbsp;&nbsp;&nbsp;&nbsp;8.5% |
|  |  | &nbsp;&nbsp;&nbsp;62663241 |  |
| **Information technology - 23.2%** | **Information technology - 23.2%** |  |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7668 | &nbsp;&nbsp;&nbsp;&nbsp;2580512 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Apple, Inc. | &nbsp;&nbsp;263248 | &nbsp;&nbsp;&nbsp;34203755 | &nbsp;&nbsp;&nbsp;&nbsp;5.1% |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6632 | &nbsp;&nbsp;&nbsp;&nbsp;3708150 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67825 | &nbsp;&nbsp;&nbsp;&nbsp;3231183 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15709 | &nbsp;&nbsp;&nbsp;&nbsp;5462491 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Microsoft Corp. | &nbsp;&nbsp;122154 | &nbsp;&nbsp;&nbsp;29294972 | &nbsp;&nbsp;&nbsp;&nbsp;4.4% |
| NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40792 | &nbsp;&nbsp;&nbsp;&nbsp;5961343 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44140 | &nbsp;&nbsp;&nbsp;&nbsp;3608004 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14947 | &nbsp;&nbsp;&nbsp;&nbsp;2469543 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;26792 | &nbsp;&nbsp;&nbsp;&nbsp;5566306 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;60368037 | &nbsp;&nbsp;&nbsp;&nbsp;8.7% |
|  |  | 156454296 |  |
| **Materials - 2.5%** | **Materials - 2.5%** | &nbsp;&nbsp;&nbsp;16675143 | &nbsp;&nbsp;&nbsp;2.5% |
| **Real estate - 3.1%** | **Real estate - 3.1%** | &nbsp;&nbsp;&nbsp;20862301 | &nbsp;&nbsp;&nbsp;3.1% |
| **Utilities - 2.9%** | **Utilities - 2.9%** |  |  |
| NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32565 | &nbsp;&nbsp;&nbsp;&nbsp;2722434 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;16735289 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
|  |  | &nbsp;&nbsp;&nbsp;19457723 |  |
| TOTAL COMMON STOCKS (Cost $328,118,894) | TOTAL COMMON STOCKS (Cost $328,118,894) | $651574987 |  |
| **PREFERRED SECURITIES - 0.0%** | **PREFERRED SECURITIES - 0.0%** |  |  |
| **Consumer discretionary - 0.0%** | **Consumer discretionary - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 | &nbsp;&nbsp;&nbsp;0.0% |
| **Industrials - 0.0%** | **Industrials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11715 | &nbsp;&nbsp;&nbsp;0.0% |
| **Information technology - 0.0%** | **Information technology - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL PREFERRED SECURITIES (Cost $89,143) | TOTAL PREFERRED SECURITIES (Cost $89,143) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27733 |  |
| **WARRANTS - 0.0%** | **WARRANTS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL WARRANTS (Cost $120,153) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 |  |
| **SHORT-TERM INVESTMENTS - 3.8%** | **SHORT-TERM INVESTMENTS - 3.8%** |  |  |
| **Short-term funds - 3.8%** | **Short-term funds - 3.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 2527141 | &nbsp;&nbsp;&nbsp;25260797 | &nbsp;&nbsp;&nbsp;&nbsp;3.8% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $25,259,777) | TOTAL SHORT-TERM INVESTMENTS (Cost $25,259,777) | $&nbsp;&nbsp;&nbsp;25260797 |  |
| **Total Investments (Total Stock Market Index Trust) (Cost $353,587,967) - 100.3%** | **Total Investments (Total Stock Market Index Trust) (Cost $353,587,967) - 100.3%** | $**676869554** | **100.3%** |
| **Other assets and liabilities, net - (0.3)%** | **Other assets and liabilities, net - (0.3)%** | &nbsp;&nbsp;&nbsp;**(1896243)** | &nbsp;&nbsp;**(0.3)%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**674973311** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $2,765,647. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3391119 | &nbsp;&nbsp;&nbsp;&nbsp;$3364710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(26409) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20265486 | &nbsp;&nbsp;&nbsp;&nbsp;20077200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188286) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(214695)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

The following portfolios had the following country composition as a percentage of net assets on 12-31-22:

#### Capital Appreciation Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;88.6% |
| France | &nbsp;&nbsp;3.0% |
| Netherlands | &nbsp;&nbsp;2.6% |
| Denmark | &nbsp;&nbsp;1.9% |
| Canada | &nbsp;&nbsp;1.8% |
| Uruguay | &nbsp;&nbsp;1.5% |
| Other countries | &nbsp;&nbsp;0.6% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Equity Income Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;87.9% |
| France | &nbsp;&nbsp;4.2% |
| Germany | &nbsp;&nbsp;2.7% |
| Switzerland | &nbsp;&nbsp;2.0% |
| Canada | &nbsp;&nbsp;1.4% |
| Ireland | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;0.8% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Financial Industries Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;87.0% |
| Bermuda | &nbsp;&nbsp;4.2% |
| Switzerland | &nbsp;&nbsp;3.3% |
| Canada | &nbsp;&nbsp;2.6% |
| Puerto Rico | &nbsp;&nbsp;1.5% |
| Japan | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;0.4% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Fundamental Large Cap Value Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;88.7% |
| France | &nbsp;&nbsp;2.5% |
| Canada | &nbsp;&nbsp;2.3% |
| Switzerland | &nbsp;&nbsp;2.2% |
| Belgium | &nbsp;&nbsp;1.8% |
| Netherlands | &nbsp;&nbsp;1.0% |
| South Korea | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;0.5% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Health Sciences Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;88.0% |
| United Kingdom | &nbsp;&nbsp;3.9% |
| Netherlands | &nbsp;&nbsp;1.7% |
| Denmark | &nbsp;&nbsp;1.5% |
| Germany | &nbsp;&nbsp;1.3% |
| Japan | &nbsp;&nbsp;1.1% |
| Switzerland | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;1.5% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Mid Value Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;83.5% |
| United Kingdom | &nbsp;&nbsp;4.9% |
| Canada | &nbsp;&nbsp;3.0% |
| Bermuda | &nbsp;&nbsp;1.7% |
| Puerto Rico | &nbsp;&nbsp;1.1% |
| Ireland | &nbsp;&nbsp;1.0% |
| Denmark | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;3.8% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Science & Technology Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;73.2% |
| Germany | &nbsp;&nbsp;10.8% |
| China | &nbsp;&nbsp;6.5% |
| Ireland | &nbsp;&nbsp;4.2% |
| South Korea | &nbsp;&nbsp;2.1% |
| Netherlands | &nbsp;&nbsp;1.1% |
| Other countries | &nbsp;&nbsp;2.1% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Strategic Equity Allocation Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;67.0% |
| Japan | &nbsp;&nbsp;6.9% |
| United Kingdom | &nbsp;&nbsp;5.0% |
| France | &nbsp;&nbsp;3.6% |
| Switzerland | &nbsp;&nbsp;3.6% |
| Germany | &nbsp;&nbsp;2.5% |
| Australia | &nbsp;&nbsp;2.5% |
| Netherlands | &nbsp;&nbsp;1.5% |
| Sweden | &nbsp;&nbsp;1.0% |
| Ireland | &nbsp;&nbsp;1.0% |
| Other countries | &nbsp;&nbsp;5.4% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American Growth Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$6504084347 | &nbsp;&nbsp;&nbsp;&nbsp;$1131172659 | &nbsp;&nbsp;&nbsp;&nbsp;$177890014 | &nbsp;&nbsp;&nbsp;&nbsp;$744915959 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221283201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**6725367548** | &nbsp;&nbsp;&nbsp;&nbsp;**1131172659** | &nbsp;&nbsp;&nbsp;&nbsp;**177890014** | &nbsp;&nbsp;&nbsp;&nbsp;**744915959** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12746000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6386499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8011152 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27674 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**6744809552** | &nbsp;&nbsp;&nbsp;&nbsp;**1131576675** | &nbsp;&nbsp;&nbsp;&nbsp;**180685471** | &nbsp;&nbsp;&nbsp;&nbsp;**752954785** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7975013 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27686319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2778472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4664967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36475 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4179 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33439529** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**367036** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2806976** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8015960** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$6711370023** | &nbsp;&nbsp;&nbsp;&nbsp;**$1131209639** | &nbsp;&nbsp;&nbsp;&nbsp;**$177878495** | &nbsp;&nbsp;&nbsp;&nbsp;**$744938825** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$2980493158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$956346519 | &nbsp;&nbsp;&nbsp;&nbsp;$149446130 | &nbsp;&nbsp;&nbsp;&nbsp;$648831284 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;3730876865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174863120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28432365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96107541 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$6711370023** | &nbsp;&nbsp;&nbsp;&nbsp;**$1131209639** | &nbsp;&nbsp;&nbsp;&nbsp;**$177878495** | &nbsp;&nbsp;&nbsp;&nbsp;**$744938825** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$2861330268 | &nbsp;&nbsp;&nbsp;&nbsp;$1090439840 | &nbsp;&nbsp;&nbsp;&nbsp;$174173837 | &nbsp;&nbsp;&nbsp;&nbsp;$782041812 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$221205286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4551724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4440768392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$320294551 | &nbsp;&nbsp;&nbsp;&nbsp;$40634993 | &nbsp;&nbsp;&nbsp;&nbsp;$188292310 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109103923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33388795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14059997 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.39 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69886376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$710291967 | &nbsp;&nbsp;&nbsp;&nbsp;$112470871 | &nbsp;&nbsp;&nbsp;&nbsp;$480553065 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74022613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8239261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36431184 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.19 |
| **Series III** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$100623121 | &nbsp;&nbsp;&nbsp;&nbsp;$24772631 | &nbsp;&nbsp;&nbsp;&nbsp;$76093450 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10477415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5726012 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.29 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$2200715255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54072878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Capital Appreciation Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$811188074 | &nbsp;&nbsp;&nbsp;&nbsp;$338734905 | &nbsp;&nbsp;&nbsp;&nbsp;$1433409659 | &nbsp;&nbsp;&nbsp;&nbsp;$414386959 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849917 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**811188074** | &nbsp;&nbsp;&nbsp;&nbsp;**338734905** | &nbsp;&nbsp;&nbsp;&nbsp;**1434579095** | &nbsp;&nbsp;&nbsp;&nbsp;**417236876** |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131978 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179734 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13497317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9264120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157357 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14482 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**824725920** | &nbsp;&nbsp;&nbsp;&nbsp;**348026859** | &nbsp;&nbsp;&nbsp;&nbsp;**1435920588** | &nbsp;&nbsp;&nbsp;&nbsp;**417720537** |
| **Liabilities** |  |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10119268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9928 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13472059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9259371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15189 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849945 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20521 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26478 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13516255** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9316228** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11506584** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2922279** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$811209665** | &nbsp;&nbsp;&nbsp;&nbsp;**$338710631** | &nbsp;&nbsp;&nbsp;&nbsp;**$1424414004** | &nbsp;&nbsp;&nbsp;&nbsp;**$414798258** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$670075715 | &nbsp;&nbsp;&nbsp;&nbsp;$377761190 | &nbsp;&nbsp;&nbsp;&nbsp;$1293067888 | &nbsp;&nbsp;&nbsp;&nbsp;$417649368 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;141133950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39050559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131346116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2851110) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$811209665** | &nbsp;&nbsp;&nbsp;&nbsp;**$338710631** | &nbsp;&nbsp;&nbsp;&nbsp;**$1424414004** | &nbsp;&nbsp;&nbsp;&nbsp;**$414798258** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$761794054 | &nbsp;&nbsp;&nbsp;&nbsp;$418854838 | &nbsp;&nbsp;&nbsp;&nbsp;$1284653710 | &nbsp;&nbsp;&nbsp;&nbsp;$422613727 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1169171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2849945 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$900312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2710334 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$267985128 | &nbsp;&nbsp;&nbsp;&nbsp;$106005933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$226524034 | &nbsp;&nbsp;&nbsp;&nbsp;$151417469 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18860285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7050861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12540247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46181680 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.28 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$380175342 | &nbsp;&nbsp;&nbsp;&nbsp;$206028000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$78636596 | &nbsp;&nbsp;&nbsp;&nbsp;$46469584 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26913264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13710451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4705899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18442763 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.52 |
| **Series III** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$163049195 | &nbsp;&nbsp;&nbsp;&nbsp;$26676698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11503358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1119253374 | &nbsp;&nbsp;&nbsp;&nbsp;$216911205 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61731555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65227913 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3.33 |

---

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Equity Income Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$418159865 | &nbsp;&nbsp;&nbsp;&nbsp;$255871241 | &nbsp;&nbsp;&nbsp;&nbsp;$202175016 | &nbsp;&nbsp;&nbsp;&nbsp;$1369770320 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56404547 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**420940865** | &nbsp;&nbsp;&nbsp;&nbsp;**255871241** | &nbsp;&nbsp;&nbsp;&nbsp;**202175016** | &nbsp;&nbsp;&nbsp;&nbsp;**1426174867** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4724417 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2386794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63770 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38751 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**424508735** | &nbsp;&nbsp;&nbsp;&nbsp;**259783825** | &nbsp;&nbsp;&nbsp;&nbsp;**205565981** | &nbsp;&nbsp;&nbsp;&nbsp;**1431002146** |
| **Liabilities** |  |  |  |  |
| Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign capital gains tax payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677475 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56398258 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68354 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40232 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4820200** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**699306** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**916528** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**57191241** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$419688535** | &nbsp;&nbsp;&nbsp;&nbsp;**$259084519** | &nbsp;&nbsp;&nbsp;&nbsp;**$204649453** | &nbsp;&nbsp;&nbsp;&nbsp;**$1373810905** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$389980170 | &nbsp;&nbsp;&nbsp;&nbsp;$255459182 | &nbsp;&nbsp;&nbsp;&nbsp;$265153282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$993544015 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29708365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60503829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380266890 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$419688535** | &nbsp;&nbsp;&nbsp;&nbsp;**$259084519** | &nbsp;&nbsp;&nbsp;&nbsp;**$204649453** | &nbsp;&nbsp;&nbsp;&nbsp;**$1373810905** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$435367053 | &nbsp;&nbsp;&nbsp;&nbsp;$250082213 | &nbsp;&nbsp;&nbsp;&nbsp;$227230238 | &nbsp;&nbsp;&nbsp;&nbsp;$1114174451 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56405085 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$771551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$675926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$340 |
| Premiums received on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2178819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$53981828 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7500199 | &nbsp;&nbsp;&nbsp;&nbsp;$67239397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5596005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$217855537 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5112732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15641993 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.93 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$232718571 | &nbsp;&nbsp;&nbsp;&nbsp;$41296187 | &nbsp;&nbsp;&nbsp;&nbsp;$25896746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$112552566 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22078133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3142854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8144125 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.82 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$179469765 | &nbsp;&nbsp;&nbsp;&nbsp;$150548935 | &nbsp;&nbsp;&nbsp;&nbsp;$173156702 | &nbsp;&nbsp;&nbsp;&nbsp;$1043402802 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16973195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11551762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19526529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75498449 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.82 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Financial Industries Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Global Equity Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$133588030 | &nbsp;&nbsp;&nbsp;&nbsp;$1797653000 | &nbsp;&nbsp;&nbsp;&nbsp;$709816743 | &nbsp;&nbsp;&nbsp;&nbsp;$279918820 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5681050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45794358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**139269080** | &nbsp;&nbsp;&nbsp;&nbsp;**1843447358** | &nbsp;&nbsp;&nbsp;&nbsp;**715921496** | &nbsp;&nbsp;&nbsp;&nbsp;**279918820** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404713 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18332 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**139570632** | &nbsp;&nbsp;&nbsp;&nbsp;**1843872365** | &nbsp;&nbsp;&nbsp;&nbsp;**716543799** | &nbsp;&nbsp;&nbsp;&nbsp;**280348890** |
| **Liabilities** |  |  |  |  |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2311328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5240851 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13943 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39675 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3078209** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**561562** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2371280** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5294565** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$136492423** | &nbsp;&nbsp;&nbsp;&nbsp;**$1843310803** | &nbsp;&nbsp;&nbsp;&nbsp;**$714172519** | &nbsp;&nbsp;&nbsp;&nbsp;**$275054325** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$125353971 | &nbsp;&nbsp;&nbsp;&nbsp;$1179384575 | &nbsp;&nbsp;&nbsp;&nbsp;$531914830 | &nbsp;&nbsp;&nbsp;&nbsp;$257703472 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11138452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663926228 | &nbsp;&nbsp;&nbsp;&nbsp;182257689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17350853 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$136492423** | &nbsp;&nbsp;&nbsp;&nbsp;**$1843310803** | &nbsp;&nbsp;&nbsp;&nbsp;**$714172519** | &nbsp;&nbsp;&nbsp;&nbsp;**$275054325** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$127669311 | &nbsp;&nbsp;&nbsp;&nbsp;$1395897067 | &nbsp;&nbsp;&nbsp;&nbsp;$583863837 | &nbsp;&nbsp;&nbsp;&nbsp;$273701834 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5680968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45793861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6103437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$957 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1954307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$93163669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$85357287 | &nbsp;&nbsp;&nbsp;&nbsp;$408188107 | &nbsp;&nbsp;&nbsp;&nbsp;$212033446 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8320109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3453162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18042144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10879207 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.49 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$16107243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$41389873 | &nbsp;&nbsp;&nbsp;&nbsp;$143187417 | &nbsp;&nbsp;&nbsp;&nbsp;$20667714 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1682023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6268685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068161 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24.61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.35 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$27221511 | &nbsp;&nbsp;&nbsp;&nbsp;$1716563643 | &nbsp;&nbsp;&nbsp;&nbsp;$162796995 | &nbsp;&nbsp;&nbsp;&nbsp;$42353165 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2442397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68918370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7191498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175022 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19.47 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$277547670 | &nbsp;&nbsp;&nbsp;&nbsp;$769125002 | &nbsp;&nbsp;&nbsp;&nbsp;$97562044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$898962798 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**277547670** | &nbsp;&nbsp;&nbsp;&nbsp;**770480352** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**97562044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898962798** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8118176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2673642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186942 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30193 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**278383628** | &nbsp;&nbsp;&nbsp;&nbsp;**782112511** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**98640048** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**899179933** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15751 |
| Foreign capital gains tax payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65525 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103573 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44130 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6849 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**441062** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2651711** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**89498** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**236138** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$277942566** | &nbsp;&nbsp;&nbsp;&nbsp;**$779460800** | &nbsp;&nbsp;&nbsp;&nbsp;**$98550550** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$898943795** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$205063362 | &nbsp;&nbsp;&nbsp;&nbsp;$672929076 | &nbsp;&nbsp;&nbsp;&nbsp;$113663433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$976409558 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72879204 | &nbsp;&nbsp;&nbsp;&nbsp;106531724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15112883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77465763) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$277942566** | &nbsp;&nbsp;&nbsp;&nbsp;**$779460800** | &nbsp;&nbsp;&nbsp;&nbsp;**$98550550** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$898943795** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$217235350 | &nbsp;&nbsp;&nbsp;&nbsp;$658315103 | &nbsp;&nbsp;&nbsp;&nbsp;$115722465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1447482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1053805656 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8158569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$138453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$64613544 | &nbsp;&nbsp;&nbsp;&nbsp;$294356934 | &nbsp;&nbsp;&nbsp;&nbsp;$19218649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32099627 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18042787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557250 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.55 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$56231504 | &nbsp;&nbsp;&nbsp;&nbsp;$17277814 | &nbsp;&nbsp;&nbsp;&nbsp;$11573160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$730206257 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2712490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58034702 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.58 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$157097518 | &nbsp;&nbsp;&nbsp;&nbsp;$467826052 | &nbsp;&nbsp;&nbsp;&nbsp;$67758741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$136637911 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6422765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28688961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5779800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10898513 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.54 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$550500638 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;$165357356 | &nbsp;&nbsp;&nbsp;&nbsp;$4872641383 | &nbsp;&nbsp;&nbsp;&nbsp;$274685751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15839582 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**165357356** | &nbsp;&nbsp;&nbsp;&nbsp;**4872641383** | &nbsp;&nbsp;&nbsp;&nbsp;**274685751** | &nbsp;&nbsp;&nbsp;&nbsp;**577540220** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83526 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291824 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357 |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19720 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**165459302** | &nbsp;&nbsp;&nbsp;&nbsp;**4874437739** | &nbsp;&nbsp;&nbsp;&nbsp;**274767740** | &nbsp;&nbsp;&nbsp;&nbsp;**577939647** |
| **Liabilities** |  |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247144 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15837700 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27267 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25046 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110652** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1774543** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90150** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16137358** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$165348650** | &nbsp;&nbsp;&nbsp;&nbsp;**$4872663196** | &nbsp;&nbsp;&nbsp;&nbsp;**$274677590** | &nbsp;&nbsp;&nbsp;&nbsp;**$561802289** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$196203670 | &nbsp;&nbsp;&nbsp;&nbsp;$5037318264 | &nbsp;&nbsp;&nbsp;&nbsp;$308452181 | &nbsp;&nbsp;&nbsp;&nbsp;$759755384 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30855020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(164655068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33774591) | &nbsp;&nbsp;&nbsp;&nbsp;(197953095) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$165348650** | &nbsp;&nbsp;&nbsp;&nbsp;**$4872663196** | &nbsp;&nbsp;&nbsp;&nbsp;**$274677590** | &nbsp;&nbsp;&nbsp;&nbsp;**$561802289** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$643431350 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$200526243 | &nbsp;&nbsp;&nbsp;&nbsp;$5637083212 | &nbsp;&nbsp;&nbsp;&nbsp;$327383416 | &nbsp;&nbsp;&nbsp;&nbsp;$15839856 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$15487143 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$13929499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$193553613 | &nbsp;&nbsp;&nbsp;&nbsp;$12417588 | &nbsp;&nbsp;&nbsp;&nbsp;$128082475 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14714231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17613013 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7.27 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$143780294 | &nbsp;&nbsp;&nbsp;&nbsp;$4184079198 | &nbsp;&nbsp;&nbsp;&nbsp;$223552125 | &nbsp;&nbsp;&nbsp;&nbsp;$60324761 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13033986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317685335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18628764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10594535 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.69 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7638857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$495030385 | &nbsp;&nbsp;&nbsp;&nbsp;$38707877 | &nbsp;&nbsp;&nbsp;&nbsp;$373395053 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37657395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48911788 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7.63 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Science & Technology Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$1102296630 | &nbsp;&nbsp;&nbsp;&nbsp;$566572502 | &nbsp;&nbsp;&nbsp;&nbsp;$285183422 | &nbsp;&nbsp;&nbsp;&nbsp;$621232261 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37907021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13043847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2946108 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**1140203651** | &nbsp;&nbsp;&nbsp;&nbsp;**579616349** | &nbsp;&nbsp;&nbsp;&nbsp;**285183422** | &nbsp;&nbsp;&nbsp;&nbsp;**624178369** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504220 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174867 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25867 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1358589 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4273 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24932 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**1144021627** | &nbsp;&nbsp;&nbsp;&nbsp;**589619705** | &nbsp;&nbsp;&nbsp;&nbsp;**286579549** | &nbsp;&nbsp;&nbsp;&nbsp;**626271368** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7185337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203756 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692973 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4123143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13040225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945850 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29141 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95829 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9757296** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20649681** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51150** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4967856** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$1134264331** | &nbsp;&nbsp;&nbsp;&nbsp;**$568970024** | &nbsp;&nbsp;&nbsp;&nbsp;**$286528399** | &nbsp;&nbsp;&nbsp;&nbsp;**$621303512** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$937017222 | &nbsp;&nbsp;&nbsp;&nbsp;$456174282 | &nbsp;&nbsp;&nbsp;&nbsp;$292198464 | &nbsp;&nbsp;&nbsp;&nbsp;$871862860 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197247109 | &nbsp;&nbsp;&nbsp;&nbsp;112795742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5670065) | &nbsp;&nbsp;&nbsp;&nbsp;(250559348) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$1134264331** | &nbsp;&nbsp;&nbsp;&nbsp;**$568970024** | &nbsp;&nbsp;&nbsp;&nbsp;**$286528399** | &nbsp;&nbsp;&nbsp;&nbsp;**$621303512** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$965851484 | &nbsp;&nbsp;&nbsp;&nbsp;$527793536 | &nbsp;&nbsp;&nbsp;&nbsp;$299369970 | &nbsp;&nbsp;&nbsp;&nbsp;$708189270 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37901333 | &nbsp;&nbsp;&nbsp;&nbsp;$13043043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2945916 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$265 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4039099 | &nbsp;&nbsp;&nbsp;&nbsp;$12671473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2781158 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$844429670 | &nbsp;&nbsp;&nbsp;&nbsp;$221825424 | &nbsp;&nbsp;&nbsp;&nbsp;$51165053 | &nbsp;&nbsp;&nbsp;&nbsp;$473237127 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46617755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22304321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40617893 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.65 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54852738 | &nbsp;&nbsp;&nbsp;&nbsp;$50674221 | &nbsp;&nbsp;&nbsp;&nbsp;$27573849 | &nbsp;&nbsp;&nbsp;&nbsp;$43022741 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5088179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4474145 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.62 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$234981923 | &nbsp;&nbsp;&nbsp;&nbsp;$296470379 | &nbsp;&nbsp;&nbsp;&nbsp;$207789497 | &nbsp;&nbsp;&nbsp;&nbsp;$105043644 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12974218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30084117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12011142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8645276 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.15 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Cap Value Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$472801203 | &nbsp;&nbsp;&nbsp;&nbsp;$152434781 | &nbsp;&nbsp;&nbsp;&nbsp;$250494367 | &nbsp;&nbsp;&nbsp;&nbsp;$418155243 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24839413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6298427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088199 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**497640616** | &nbsp;&nbsp;&nbsp;&nbsp;**153349430** | &nbsp;&nbsp;&nbsp;&nbsp;**256792794** | &nbsp;&nbsp;&nbsp;&nbsp;**438243442** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95273 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705109 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666776 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Interfund lending receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11721 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**500248443** | &nbsp;&nbsp;&nbsp;&nbsp;**153530531** | &nbsp;&nbsp;&nbsp;&nbsp;**259008386** | &nbsp;&nbsp;&nbsp;&nbsp;**439722396** |
| **Liabilities** |  |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749144 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645706 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6297450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088200 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21029 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23178 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7789477** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1039978** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6633884** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8527399** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$492458966** | &nbsp;&nbsp;&nbsp;&nbsp;**$152490553** | &nbsp;&nbsp;&nbsp;&nbsp;**$252374502** | &nbsp;&nbsp;&nbsp;&nbsp;**$431194997** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$447463587 | &nbsp;&nbsp;&nbsp;&nbsp;$124379721 | &nbsp;&nbsp;&nbsp;&nbsp;$323305932 | &nbsp;&nbsp;&nbsp;&nbsp;$386199435 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44995379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28110832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70931430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44995562 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$492458966** | &nbsp;&nbsp;&nbsp;&nbsp;**$152490553** | &nbsp;&nbsp;&nbsp;&nbsp;**$252374502** | &nbsp;&nbsp;&nbsp;&nbsp;**$431194997** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$436343202 | &nbsp;&nbsp;&nbsp;&nbsp;$138040810 | &nbsp;&nbsp;&nbsp;&nbsp;$255425941 | &nbsp;&nbsp;&nbsp;&nbsp;$419572640 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$24833272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$914435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6298371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6088200 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8622387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$894349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6104654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5920852 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$341335830 | &nbsp;&nbsp;&nbsp;&nbsp;$78295137 | &nbsp;&nbsp;&nbsp;&nbsp;$69619450 | &nbsp;&nbsp;&nbsp;&nbsp;$139690872 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29489551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13837013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10358513 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.49 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$26207340 | &nbsp;&nbsp;&nbsp;&nbsp;$28289441 | &nbsp;&nbsp;&nbsp;&nbsp;$21034277 | &nbsp;&nbsp;&nbsp;&nbsp;$20788583 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4916580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556705 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24.97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.35 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$124915796 | &nbsp;&nbsp;&nbsp;&nbsp;$45905975 | &nbsp;&nbsp;&nbsp;&nbsp;$161720775 | &nbsp;&nbsp;&nbsp;&nbsp;$270715542 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10773987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31016541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20187567 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13.41 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Small Company Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$129304437 | &nbsp;&nbsp;&nbsp;&nbsp;$6679217621 | &nbsp;&nbsp;&nbsp;&nbsp;$651608757 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234391847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25260797 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**130151234** | &nbsp;&nbsp;&nbsp;&nbsp;**6913609468** | &nbsp;&nbsp;&nbsp;&nbsp;**676869554** |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6855299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21716700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665800 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12717245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664958 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10561 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11998 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19382 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**131004229** | &nbsp;&nbsp;&nbsp;&nbsp;**6955145050** | &nbsp;&nbsp;&nbsp;&nbsp;**679243100** |
| **Liabilities** |  |  |  |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71036 |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369312 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45229595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768559 |
| Payable to affiliates |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33814 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26823 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1790955** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49832529** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4269789** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$129213274** | &nbsp;&nbsp;&nbsp;&nbsp;**$6905312521** | &nbsp;&nbsp;&nbsp;&nbsp;**$674973311** |
| **Net assets consist of** |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$106396329 | &nbsp;&nbsp;&nbsp;&nbsp;$3883516465 | &nbsp;&nbsp;&nbsp;&nbsp;$306689371 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22816945 | &nbsp;&nbsp;&nbsp;&nbsp;3021796056 | &nbsp;&nbsp;&nbsp;&nbsp;368283940 |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$129213274** | &nbsp;&nbsp;&nbsp;&nbsp;**$6905312521** | &nbsp;&nbsp;&nbsp;&nbsp;**$674973311** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$114816940 | &nbsp;&nbsp;&nbsp;&nbsp;$4000695752 | &nbsp;&nbsp;&nbsp;&nbsp;$328328190 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$846773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$234352801 | &nbsp;&nbsp;&nbsp;&nbsp;$25259777 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6818450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$104 |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$823865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43114930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2565362 |
| **Net asset value per share** |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |
| **Series I** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$42799627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$441520827 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4868962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21202470 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.82 |
| **Series II** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$31671026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$38350410 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852525 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.70 |
| **Series NAV** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$54742621 | &nbsp;&nbsp;&nbsp;&nbsp;$6905312521 | &nbsp;&nbsp;&nbsp;&nbsp;$195102074 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6272732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454224489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9370812 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20.82 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$114017465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25471288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1782666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4911460 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**117157569** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25471288** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1782666** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4911460** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33485369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8056701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5624282 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123825 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17550 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12006 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25320 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45868 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25620 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38674037** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8391138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1365271** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5874471** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17982974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(559868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568521) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20691063** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7831270** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1248496** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5305950** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**96466506** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17640018** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**534170** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(394490)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156334076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51638405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4866977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27009960 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital gain distributions received from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124712356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21347894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118704173 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37183540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**119132614** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**176350761** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26214871** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**145714133** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(1748764497) | &nbsp;&nbsp;&nbsp;&nbsp;(386605593) | &nbsp;&nbsp;&nbsp;&nbsp;(89065652) | &nbsp;&nbsp;&nbsp;&nbsp;(471579024) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11302208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(1759988383)** | &nbsp;&nbsp;&nbsp;&nbsp;**(386605593)** | &nbsp;&nbsp;&nbsp;&nbsp;**(89065652)** | &nbsp;&nbsp;&nbsp;&nbsp;**(471579024)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1640855769)** | &nbsp;&nbsp;&nbsp;&nbsp;**(210254832)** | &nbsp;&nbsp;&nbsp;&nbsp;**(62850781)** | &nbsp;&nbsp;&nbsp;&nbsp;**(325864891)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(1544389263)** | &nbsp;&nbsp;&nbsp;**$(192614814)** | &nbsp;&nbsp;&nbsp;**$(62316611)** | &nbsp;&nbsp;&nbsp;**$(326259381)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13395715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7424175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8549066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2959639 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80263 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51814) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60559) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13395715** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7424175** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8930323** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2979343** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12831625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614297 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5383059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237798 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73056 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11003 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70593 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22882 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57724 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42678 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5644783** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2672449** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14008675** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4130031** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(370137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(629045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40130) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5274646** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2596179** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13379630** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4089901** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8121069** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4827996** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4449307)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1110558)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16189668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16003366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6478001 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18) |
| Capital gain distributions received from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86561662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51779405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**102751330** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53036185** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16011048)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6477983** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(289001607) | &nbsp;&nbsp;&nbsp;(156264119) | &nbsp;&nbsp;&nbsp;&nbsp;(869330494) | &nbsp;&nbsp;&nbsp;&nbsp;(277421997) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(289001607)** | &nbsp;&nbsp;&nbsp;**(156264119)** | &nbsp;&nbsp;&nbsp;&nbsp;**(869330229)** | &nbsp;&nbsp;&nbsp;&nbsp;**(277422007)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(186250277)** | &nbsp;&nbsp;&nbsp;**(103227934)** | &nbsp;&nbsp;&nbsp;&nbsp;**(885341277)** | &nbsp;&nbsp;&nbsp;&nbsp;**(270944024)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(178129208)** | &nbsp;&nbsp;&nbsp;**$(98399938)** | &nbsp;&nbsp;&nbsp;**$(889790584)** | &nbsp;&nbsp;&nbsp;**$(272054582)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5887204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$185451 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9701271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12161158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39913564 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109571 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(982535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1242724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1205180) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9021105** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8763334** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10979680** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39003406** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10057504 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415470 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219331 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29414 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180729 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38778 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82532 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68584 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4582814** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2522350** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2441965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11092342** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21183) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(455712) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4382744** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2501167** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2424582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10636630** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4638361** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6262167** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8555098** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28366776** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39399320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(609904) | &nbsp;&nbsp;&nbsp;&nbsp;124121578 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1327) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458 |
| Capital gain distributions received from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(383621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42001418** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**593483** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(994572)** | &nbsp;&nbsp;&nbsp;&nbsp;**124124036** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;(112037811) | &nbsp;&nbsp;&nbsp;&nbsp;(21506166) | &nbsp;&nbsp;&nbsp;&nbsp;(36036064)<sup>1</sup> | &nbsp;&nbsp;&nbsp;(200146164) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(598) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;**(105725046)** | &nbsp;&nbsp;&nbsp;&nbsp;**(21506166)** | &nbsp;&nbsp;&nbsp;&nbsp;**(36031319)** | &nbsp;&nbsp;&nbsp;**(200146762)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(63723628)** | &nbsp;&nbsp;&nbsp;&nbsp;**(20912683)** | &nbsp;&nbsp;&nbsp;&nbsp;**(37025891)** | &nbsp;&nbsp;&nbsp;&nbsp;**(76022726)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(59085267)** | &nbsp;&nbsp;&nbsp;**$(14650516)** | &nbsp;&nbsp;&nbsp;**$(28470793)** | &nbsp;&nbsp;&nbsp;**$(47655950)** |

---

<sup>1</sup> Net of $391,846 increase in deferred foreign withholding taxes.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Global Equity Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3850659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20878066 | &nbsp;&nbsp;&nbsp;&nbsp;$13421000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6737029 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61141 |
| Non-cash dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714833 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82842) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(365065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(308902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(533803) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3821090** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20854740** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13238395** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6979200** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14120703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5079945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390111 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174752 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45269 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5996 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104780 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26942 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60671 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26887 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1463682** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15119974** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6026546** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2835408** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167854) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81739) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23397) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1450883** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14952120** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5944807** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2812011** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2370207** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5902620** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7293588** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4167189** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4721385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261192337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55037333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127931 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4722529** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**261201032** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55037989** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9127931** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(32962654) | &nbsp;&nbsp;&nbsp;&nbsp;(888505863) | &nbsp;&nbsp;&nbsp;(127740490) | &nbsp;&nbsp;&nbsp;&nbsp;(64980543) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(32962572)** | &nbsp;&nbsp;&nbsp;&nbsp;**(888505366)** | &nbsp;&nbsp;&nbsp;**(127739174)** | &nbsp;&nbsp;&nbsp;&nbsp;**(64980543)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28240043)** | &nbsp;&nbsp;&nbsp;&nbsp;**(627304334)** | &nbsp;&nbsp;&nbsp;&nbsp;**(72701185)** | &nbsp;&nbsp;&nbsp;&nbsp;**(55852612)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(25869836)** | &nbsp;&nbsp;&nbsp;**$(621401714)** | &nbsp;&nbsp;&nbsp;**$(65407597)** | &nbsp;&nbsp;&nbsp;**$(51685423)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2045201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28164093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3541342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21723330 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2628312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2034134** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25796307** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3273538** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21723330** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411485 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049120 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147634 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20054 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19672 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30863 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65953 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26918 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3031452** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5212411** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1172291** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2771699** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156940) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2222036) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50448) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2874512** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2990375** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1163732** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2721251** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(840378)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22805932** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2109806** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19002079** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13987855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4169431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2510744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576373 |
| Capital gain distributions received from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81840871 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5429621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38433) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13987855** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1240876)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2468903** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**82417270** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(58341511) | &nbsp;&nbsp;&nbsp;&nbsp;(177168857) | &nbsp;&nbsp;&nbsp;&nbsp;(27975657) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;(281988865) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(371341) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13651) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(58341511)** | &nbsp;&nbsp;&nbsp;&nbsp;**(177649652)** | &nbsp;&nbsp;&nbsp;&nbsp;**(27988780)** | &nbsp;&nbsp;&nbsp;&nbsp;**(281988865)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(44353656)** | &nbsp;&nbsp;&nbsp;&nbsp;**(178890528)** | &nbsp;&nbsp;&nbsp;&nbsp;**(25519877)** | &nbsp;&nbsp;&nbsp;&nbsp;**(199571595)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(45194034)** | &nbsp;&nbsp;&nbsp;**$(156084596)** | &nbsp;&nbsp;&nbsp;**$(23410071)** | &nbsp;&nbsp;&nbsp;**$(180569516)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4860020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$102010699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7090913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2499188 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187762 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55190 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4860020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**102011181** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7090913** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2742140** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272505 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11634665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247536 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92666 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13726 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76618 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23392 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74152 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38968 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**616763** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15176153** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**906446** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5839563** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(272366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49759) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**556821** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14903787** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**860929** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5789804** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4303199** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**87107394** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6229984** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3047664)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;(113745846) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(671672) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25069098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19234) |
| Capital gain distributions received from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6957753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604581883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20628232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6286081** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**629661208** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20717752** | &nbsp;&nbsp;&nbsp;&nbsp;**(113765080)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(187623802) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;(42245326) | &nbsp;&nbsp;&nbsp;&nbsp;(1732786877) | &nbsp;&nbsp;&nbsp;&nbsp;(80803491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5807 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(42245326)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1732786868)** | &nbsp;&nbsp;&nbsp;&nbsp;**(80803491)** | &nbsp;&nbsp;&nbsp;&nbsp;**(187617995)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(35959245)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1103125660)** | &nbsp;&nbsp;&nbsp;&nbsp;**(60085739)** | &nbsp;&nbsp;&nbsp;&nbsp;**(301383075)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(31656046)** | &nbsp;&nbsp;&nbsp;**$(1016018266)** | &nbsp;&nbsp;&nbsp;**$(53855755)** | &nbsp;&nbsp;&nbsp;**$(304430739)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18840828 | &nbsp;&nbsp;&nbsp;&nbsp;$10804055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8262792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2475627 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332880 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103020 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116701) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19604558** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11156331** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8311843** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2794826** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5736429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5275648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2410268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7240369 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412459 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106888 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15568 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140697 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19325 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70505 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44128 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6855241** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5824127** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2733490** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8049939** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1318689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(301718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27023) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(396502) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5536552** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5522409** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2706467** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7653437** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14068006** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5633922** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5605376** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4858611)** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63167763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92806717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032107 | &nbsp;&nbsp;&nbsp;&nbsp;(151670510) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10655) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3444765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59715732** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**92804864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4031207** | &nbsp;&nbsp;&nbsp;&nbsp;**(151681165)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(265993666) | &nbsp;&nbsp;&nbsp;(124680625) | &nbsp;&nbsp;&nbsp;&nbsp;(129632833) | &nbsp;&nbsp;&nbsp;&nbsp;(209907830) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1371424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(267357697)** | &nbsp;&nbsp;&nbsp;**(124679826)** | &nbsp;&nbsp;&nbsp;&nbsp;**(129632577)** | &nbsp;&nbsp;&nbsp;&nbsp;**(209907210)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(207641965)** | &nbsp;&nbsp;&nbsp;&nbsp;**(31874962)** | &nbsp;&nbsp;&nbsp;&nbsp;**(125601370)** | &nbsp;&nbsp;&nbsp;&nbsp;**(361588375)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(193573959)** | &nbsp;&nbsp;&nbsp;**$(26241040)** | &nbsp;&nbsp;&nbsp;**$(119995994)** | &nbsp;&nbsp;&nbsp;**$(366446986)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Value Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6675809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1948926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1920956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9132274 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138214 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10955) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4224) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7577934** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1976031** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2009650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9268473** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435119 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134413 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70025 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9606 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65052 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24888 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61013 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30774 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3149200** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1803752** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3235348** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4830890** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(396051) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36981) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2832742** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1407701** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3212517** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4793909** |
| **Net investment income (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4745192** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**568330** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1202867)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4474564** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12822282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64998365) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39680291 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1512) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4207819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8605450** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13813588** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(64999877)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39680213** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(147283051) | &nbsp;&nbsp;&nbsp;&nbsp;(31208514) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56161788) | &nbsp;&nbsp;&nbsp;&nbsp;(97885118) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(994778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(148270896)** | &nbsp;&nbsp;&nbsp;&nbsp;**(31208284)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(56161268)** | &nbsp;&nbsp;&nbsp;&nbsp;**(97885119)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(139665446)** | &nbsp;&nbsp;&nbsp;&nbsp;**(17394696)** | &nbsp;&nbsp;&nbsp;&nbsp;**(121161145)** | &nbsp;&nbsp;&nbsp;&nbsp;**(58204906)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(134920254)** | &nbsp;&nbsp;&nbsp;**$(16826366)** | &nbsp;&nbsp;&nbsp;**$(122364012)** | &nbsp;&nbsp;&nbsp;**$(53730342)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | |
|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1867437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163444856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11440684 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1446188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22069 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147547 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235581 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7282626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(429) |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1970167** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**160792000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11845452** |
| **Expenses** |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47898295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3627868 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359638 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112734 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15569 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99465 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23099 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59442 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43280 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1751295** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**50894624** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4341095** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10475557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(594589) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1655646** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40419067** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3746506** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**314521** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**120372933** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8098946** |
| **Realized and unrealized gain (loss)** |  |  |  |
| **Net realized gain (loss) on** |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9007174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419583849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46012025 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4375) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4379306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2244914) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9004641** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**415156888** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43762736** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(40701714) | &nbsp;&nbsp;&nbsp;&nbsp;(2028599516) | &nbsp;&nbsp;&nbsp;&nbsp;(236753430) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10844146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(831983) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(40701536)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2039401233)** | &nbsp;&nbsp;&nbsp;&nbsp;**(237583600)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(31696895)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1624244345)** | &nbsp;&nbsp;&nbsp;&nbsp;**(193820864)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(31382374)** | &nbsp;&nbsp;&nbsp;**$(1503871412)** | &nbsp;&nbsp;&nbsp;**$(185721918)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**500 Index Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** | &nbsp;&nbsp;&nbsp;**American Global Growth Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$96466506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$82621218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17640018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15303629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$534170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(158815) |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119132614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257454701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176350761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155084254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26214871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25869956 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(1759988383) | &nbsp;&nbsp;&nbsp;&nbsp;1562192946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(386605593) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25886870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89065652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11504512 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(1544389263)** | &nbsp;&nbsp;&nbsp;&nbsp;**1902268865** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(192614814)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**196274753** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(62316611)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37215653** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(220115753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265985404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47761065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25549663) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5954595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2613854) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3310509) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4601443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108390376) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63349495) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17068768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9771876) |
| &nbsp;&nbsp;&nbsp;Series III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15723998) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9191535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3836268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1859742) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116518291) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147343602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(339944553)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(417930449)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(171875439)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(98090693)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26859631)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14245472)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154891651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131281151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72553791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86635209) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16539222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15189504) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1729442165)** | &nbsp;&nbsp;&nbsp;&nbsp;**1615619567** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(291936462)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11548851** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(72637020)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7780677** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;8440812188 | &nbsp;&nbsp;&nbsp;&nbsp;6825192621 | &nbsp;&nbsp;&nbsp;&nbsp;1423146101 | &nbsp;&nbsp;&nbsp;&nbsp;1411597250 | &nbsp;&nbsp;&nbsp;&nbsp;250515515 | &nbsp;&nbsp;&nbsp;&nbsp;242734838 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$6711370023** | &nbsp;&nbsp;&nbsp;**$8440812188** | &nbsp;&nbsp;&nbsp;**$1131209639** | &nbsp;&nbsp;&nbsp;**$1423146101** | &nbsp;&nbsp;&nbsp;**$177878495** | &nbsp;&nbsp;&nbsp;**$250515515** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**American Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth Trust** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** | &nbsp;&nbsp;&nbsp;**American International Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(394490) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1840938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8121069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7968893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4827996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9417175 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145714133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210335350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102751330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49474904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53036185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16758824 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(471579024) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712091 | &nbsp;&nbsp;&nbsp;&nbsp;(289001607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170916010 | &nbsp;&nbsp;&nbsp;&nbsp;(156264119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33438008) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(326259381)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**212206503** | &nbsp;&nbsp;&nbsp;&nbsp;**(178129208)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**228359807** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(98399938)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7262009)** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53457256) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16926510) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21408178) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18561160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7459890) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3212329) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;(140676168) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49814210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31264636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29802194) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15046975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5781433) |
| &nbsp;&nbsp;&nbsp;Series III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22017132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7433792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13969175) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12747995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2086956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(880914) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;**(216150556)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(74174512)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(66641989)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(61111349)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24593821)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9874676)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177018332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74139928) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34921893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110551831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12691721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32982682) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(365391605)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**63892063** | &nbsp;&nbsp;&nbsp;&nbsp;**(279693090)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**56696627** | &nbsp;&nbsp;&nbsp;&nbsp;**(135685480)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(50119367)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;1110330430 | &nbsp;&nbsp;&nbsp;&nbsp;1046438367 | &nbsp;&nbsp;&nbsp;1090902755 | &nbsp;&nbsp;&nbsp;&nbsp;1034206128 | &nbsp;&nbsp;&nbsp;&nbsp;474396111 | &nbsp;&nbsp;&nbsp;&nbsp;524515478 |
| **End of year** | &nbsp;&nbsp;&nbsp;&nbsp;**$744938825** | &nbsp;&nbsp;&nbsp;**$1110330430** | &nbsp;&nbsp;&nbsp;&nbsp;**$811209665** | &nbsp;&nbsp;&nbsp;**$1090902755** | &nbsp;&nbsp;&nbsp;**$338710631** | &nbsp;&nbsp;&nbsp;**$474396111** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;**Capital Appreciation Value Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4449307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(10471822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1110558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3798239) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4638361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2506766 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16011048) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462927497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6477983 | &nbsp;&nbsp;&nbsp;&nbsp;135583833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42001418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57002034 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(869330229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72203753) | &nbsp;&nbsp;&nbsp;&nbsp;(277422007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22637954) | &nbsp;&nbsp;&nbsp;&nbsp;(105725046) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18843618 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(889790584)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**380251922** | &nbsp;&nbsp;&nbsp;&nbsp;**(272054582)** | &nbsp;&nbsp;&nbsp;&nbsp;**109147640** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(59085267)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78352418** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71261610) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53285942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49059040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42630402) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1078795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(873842) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26219267) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20938817) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17753601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16028692) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33244084) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32083186) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353535936) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246474578) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68636931) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64811035) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25596052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21562201) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(451016813)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(320699337)** | &nbsp;&nbsp;&nbsp;&nbsp;**(135449572)** | &nbsp;&nbsp;&nbsp;&nbsp;**(123470129)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(59918931)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(54519229)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334150663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15093342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26684903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66299158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42562511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22539904 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1006656734)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**74645927** | &nbsp;&nbsp;&nbsp;&nbsp;**(380819251)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51976669** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(76441687)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46373093** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;2431070738 | &nbsp;&nbsp;&nbsp;&nbsp;2356424811 | &nbsp;&nbsp;&nbsp;&nbsp;795617509 | &nbsp;&nbsp;&nbsp;&nbsp;743640840 | &nbsp;&nbsp;&nbsp;&nbsp;496130222 | &nbsp;&nbsp;&nbsp;&nbsp;449757129 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$1424414004** | &nbsp;&nbsp;&nbsp;**$2431070738** | &nbsp;&nbsp;&nbsp;**$414798258** | &nbsp;&nbsp;&nbsp;**$795617509** | &nbsp;&nbsp;&nbsp;**$419688535** | &nbsp;&nbsp;&nbsp;**$496130222** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;**Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;**Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** | &nbsp;&nbsp;&nbsp;**Equity Income Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6262167 | &nbsp;&nbsp;&nbsp;&nbsp;$10253290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8555098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6363984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28366776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27219177 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38500283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(994572) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15250323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124124036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155935522 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21506166) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10027891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36031319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200146762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186724068 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14650516)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38725682** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(28470793)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26290661** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(47655950)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**369878767** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2480160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2030630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156248) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28609907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9806219) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1433545) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1102310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(968664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(746253) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14732101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4875034) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5593431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5089324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6819553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5085088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138102068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51543334) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9507136)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8222264)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8002367)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5987589)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(181444076)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(66224587)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33440606) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14582714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9191136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2665895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88205437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96880487) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(57598258)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15920704** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(45664296)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17637177** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(317305463)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**206773693** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;316682777 | &nbsp;&nbsp;&nbsp;&nbsp;300762073 | &nbsp;&nbsp;&nbsp;&nbsp;250313749 | &nbsp;&nbsp;&nbsp;&nbsp;232676572 | &nbsp;&nbsp;&nbsp;&nbsp;1691116368 | &nbsp;&nbsp;&nbsp;&nbsp;1484342675 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$259084519** | &nbsp;&nbsp;&nbsp;**$316682777** | &nbsp;&nbsp;&nbsp;**$204649453** | &nbsp;&nbsp;&nbsp;**$250313749** | &nbsp;&nbsp;&nbsp;**$1373810905** | &nbsp;&nbsp;&nbsp;**$1691116368** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** | &nbsp;&nbsp;&nbsp;**Financial Industries Trust** | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Fundamental Large Cap Value Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2370207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1590015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5902620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3778543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7293588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5591141 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4722529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26591128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261201032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189973676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55037989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96237215 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32962572) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12034337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(888505366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456944262 | &nbsp;&nbsp;&nbsp;&nbsp;(127739174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95966972 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25869836)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**40215480** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(621401714)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**650696481** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(65407597)** | &nbsp;&nbsp;&nbsp;&nbsp;**197795328** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19863174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1684170) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9232515) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10257524) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59869578) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56191998) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3410210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(256431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4237517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4693418) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20858656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20550791) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5682706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(460694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182415585) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185238532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22834638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18824449) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(28956090)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2401295)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(195885617)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(200189474)** | &nbsp;&nbsp;&nbsp;&nbsp;**(103562872)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(95567238)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17907002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4149271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18175731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60097164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46091141 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51569421)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55721187** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(813138060)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**468682738** | &nbsp;&nbsp;&nbsp;&nbsp;**(108873305)** | &nbsp;&nbsp;&nbsp;&nbsp;**148319231** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;188061844 | &nbsp;&nbsp;&nbsp;&nbsp;132340657 | &nbsp;&nbsp;&nbsp;&nbsp;2656448863 | &nbsp;&nbsp;&nbsp;&nbsp;2187766125 | &nbsp;&nbsp;&nbsp;&nbsp;823045824 | &nbsp;&nbsp;&nbsp;&nbsp;674726593 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$136492423** | &nbsp;&nbsp;&nbsp;**$188061844** | &nbsp;&nbsp;&nbsp;**$1843310803** | &nbsp;&nbsp;&nbsp;**$2656448863** | &nbsp;&nbsp;&nbsp;**$714172519** | &nbsp;&nbsp;&nbsp;**$823045824** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Global Equity Trust** | &nbsp;&nbsp;&nbsp;**Global Equity Trust** | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;**Health Sciences Trust** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** | &nbsp;&nbsp;&nbsp;**International Equity Index Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4167189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5844829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(840378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1647036) | &nbsp;&nbsp;&nbsp;&nbsp;$22805932 | &nbsp;&nbsp;&nbsp;&nbsp;$21312945 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58039435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13987855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34694310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1240876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7075395 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64980543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58341511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086054 | &nbsp;&nbsp;&nbsp;&nbsp;(177649652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36877274 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51685423)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**67477306** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(45194034)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35133328** | &nbsp;&nbsp;&nbsp;&nbsp;**(156084596)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**65265614** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20793841) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7902983) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7928751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10194850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14421651) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1986235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7645003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8175901) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(583130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(842152) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3880386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18360269) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17177377) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16312146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20407077) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26660462)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(33908255)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(33282029)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27090126)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(35670880)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4312157) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46149713) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18431976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11164886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32738827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32023495 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(82658042)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21327593** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(60670313)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13016185** | &nbsp;&nbsp;&nbsp;&nbsp;**(150435895)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61618229** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;357712367 | &nbsp;&nbsp;&nbsp;&nbsp;336384774 | &nbsp;&nbsp;&nbsp;&nbsp;338612879 | &nbsp;&nbsp;&nbsp;&nbsp;325596694 | &nbsp;&nbsp;&nbsp;&nbsp;929896695 | &nbsp;&nbsp;&nbsp;&nbsp;868278466 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$275054325** | &nbsp;&nbsp;&nbsp;**$357712367** | &nbsp;&nbsp;&nbsp;**$277942566** | &nbsp;&nbsp;&nbsp;**$338612879** | &nbsp;&nbsp;&nbsp;**$779460800** | &nbsp;&nbsp;&nbsp;**$929896695** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;**International Small Company Trust** | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Conservative Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$2109806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1687129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19002079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24121693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4303199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5187432 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2468903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9093959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82417270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84277623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6286081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10283809 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(27988780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5095710 | &nbsp;&nbsp;&nbsp;&nbsp;(281988865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3309046) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42245326) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9179779) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(23410071)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15876798** | &nbsp;&nbsp;&nbsp;&nbsp;**(180569516)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**105090270** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(31656046)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6291462** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1961324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1102079) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3723778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2732821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1219199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(952622) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1120179) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(583400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83290674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63670255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12042860) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9844226) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7781693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3594628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15561223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10480543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(619523) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417268) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;**(10863196)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5280107)** | &nbsp;&nbsp;&nbsp;&nbsp;**(102575675)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(76883619)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13881582)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11214116)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3363308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17293211) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34150151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14567067) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3281405) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(30909959)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12935396** | &nbsp;&nbsp;&nbsp;&nbsp;**(300438402)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62356802** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(60104695)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8204059)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;129460509 | &nbsp;&nbsp;&nbsp;&nbsp;116525113 | &nbsp;&nbsp;&nbsp;1199382197 | &nbsp;&nbsp;&nbsp;&nbsp;1137025395 | &nbsp;&nbsp;&nbsp;&nbsp;225453345 | &nbsp;&nbsp;&nbsp;&nbsp;233657404 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$98550550** | &nbsp;&nbsp;&nbsp;**$129460509** | &nbsp;&nbsp;&nbsp;&nbsp;**$898943795** | &nbsp;&nbsp;&nbsp;**$1199382197** | &nbsp;&nbsp;&nbsp;**$165348650** | &nbsp;&nbsp;&nbsp;**$225453345** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Growth Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$87107394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113320964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6229984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7650130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3047664) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6912887) |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629661208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661227643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20717752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23384509 | &nbsp;&nbsp;&nbsp;&nbsp;(113765080) | &nbsp;&nbsp;&nbsp;&nbsp;251421418 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(1732786868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60095186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80803491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6375515) | &nbsp;&nbsp;&nbsp;&nbsp;(187617995) | &nbsp;&nbsp;&nbsp;&nbsp;(207912971) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(1016018266)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**834643793** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(53855755)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24659124** | &nbsp;&nbsp;&nbsp;&nbsp;**(304430739)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36595560** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30241595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21705431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1347535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1045218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55924606) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62172424) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(647255878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(472384545) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23679443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18665532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29634931) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33315597) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76795903) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50210447) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4112909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2820705) | &nbsp;&nbsp;&nbsp;&nbsp;(158500923) | &nbsp;&nbsp;&nbsp;&nbsp;(168149385) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(754293376)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(544300423)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29139887)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22531455)** | &nbsp;&nbsp;&nbsp;&nbsp;**(244060460)** | &nbsp;&nbsp;&nbsp;&nbsp;**(263637406)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216074818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(204018604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4114132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474332 | &nbsp;&nbsp;&nbsp;&nbsp;179439716 | &nbsp;&nbsp;&nbsp;&nbsp;169007195 |
| &nbsp;&nbsp;&nbsp;Issued in reorganization | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39049320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;**Total from portfolio share transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**216074818** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(164969284)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4114132)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3474332** | &nbsp;&nbsp;&nbsp;&nbsp;**179439716** | &nbsp;&nbsp;&nbsp;&nbsp;**169007195** |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1554236824)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**125374086** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(87109774)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5602001** | &nbsp;&nbsp;&nbsp;&nbsp;**(369051483)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(58034651)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;6426900020 | &nbsp;&nbsp;&nbsp;&nbsp;6301525934 | &nbsp;&nbsp;&nbsp;&nbsp;361787364 | &nbsp;&nbsp;&nbsp;&nbsp;356185363 | &nbsp;&nbsp;&nbsp;&nbsp;930853772 | &nbsp;&nbsp;&nbsp;&nbsp;988888423 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$4872663196** | &nbsp;&nbsp;&nbsp;**$6426900020** | &nbsp;&nbsp;&nbsp;**$274677590** | &nbsp;&nbsp;&nbsp;**$361787364** | &nbsp;&nbsp;&nbsp;**$561802289** | &nbsp;&nbsp;&nbsp;**$930853772** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Mid Value Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;**Real Estate Securities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14068006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11281482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5633922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3204048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5605376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4990275 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59715732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167683236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92804864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74256357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38540092 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(267357697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125490123 | &nbsp;&nbsp;&nbsp;&nbsp;(124679826) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63647534 | &nbsp;&nbsp;&nbsp;&nbsp;(129632577) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98394819 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(193573959)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**304454841** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26241040)** | &nbsp;&nbsp;&nbsp;&nbsp;**141107939** | &nbsp;&nbsp;&nbsp;&nbsp;**(119995994)** | &nbsp;&nbsp;&nbsp;&nbsp;**141925186** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134972895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66961139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27955439) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13610356) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5670752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1028492) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8761887) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4415180) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6338897) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2998835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2995698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(495183) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36736251) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17940775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37793133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20260519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23849206) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4022665) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(180471033)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(89317094)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(72087469)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(36869710)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(32515656)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5546340)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51835709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62629455) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4273201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43979768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18078786) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(322209283)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**152508292** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(94055308)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60258461** | &nbsp;&nbsp;&nbsp;&nbsp;**(145991252)** | &nbsp;&nbsp;&nbsp;&nbsp;**118300060** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;1456473614 | &nbsp;&nbsp;&nbsp;&nbsp;1303965322 | &nbsp;&nbsp;&nbsp;&nbsp;663025332 | &nbsp;&nbsp;&nbsp;&nbsp;602766871 | &nbsp;&nbsp;&nbsp;&nbsp;432519651 | &nbsp;&nbsp;&nbsp;&nbsp;314219591 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$1134264331** | &nbsp;&nbsp;&nbsp;**$1456473614** | &nbsp;&nbsp;&nbsp;**$568970024** | &nbsp;&nbsp;&nbsp;**$663025332** | &nbsp;&nbsp;&nbsp;**$286528399** | &nbsp;&nbsp;&nbsp;**$432519651** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** | &nbsp;&nbsp;&nbsp;**Science & Technology Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Opportunities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4858611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6809661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4745192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4624859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$568330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$946158 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;(151681165) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326207128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8605450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74097359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21450364 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(209907210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(224022085) | &nbsp;&nbsp;&nbsp;&nbsp;(148270896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7415144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31208284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19805499 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(366446986)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**95375382** | &nbsp;&nbsp;&nbsp;&nbsp;**(134920254)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**86137362** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16826366)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42202021** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;(240507519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174485794) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54468844) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36104058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11570880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2357324) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23611608) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17304448) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4212751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2821544) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4214354) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(827428) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50977686) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31106075) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19645629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12923887) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6675349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(925316) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;**(315096813)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(222896317)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(78327224)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51849489)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(22460583)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4110068)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231678884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31965714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40452435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24774563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24192538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11537282) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(449864915)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(95555221)** | &nbsp;&nbsp;&nbsp;&nbsp;**(172795043)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59062436** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15094411)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26554671** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;1071168427 | &nbsp;&nbsp;&nbsp;&nbsp;1166723648 | &nbsp;&nbsp;&nbsp;&nbsp;665254009 | &nbsp;&nbsp;&nbsp;&nbsp;606191573 | &nbsp;&nbsp;&nbsp;&nbsp;167584964 | &nbsp;&nbsp;&nbsp;&nbsp;141030293 |
| **End of year** | &nbsp;&nbsp;&nbsp;&nbsp;**$621303512** | &nbsp;&nbsp;&nbsp;**$1071168427** | &nbsp;&nbsp;&nbsp;**$492458966** | &nbsp;&nbsp;&nbsp;**$665254009** | &nbsp;&nbsp;&nbsp;**$152490553** | &nbsp;&nbsp;&nbsp;**$167584964** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Small Cap Value Trust** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** | &nbsp;&nbsp;&nbsp;**Small Company Value Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1202867) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3811225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4474564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3079598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$314521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(82351) |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64999877) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78897492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39680213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73703292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9004641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19070234 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56161268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72185597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97885119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49502029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40701536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14923943 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(122364012)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2900670** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(53730342)** | &nbsp;&nbsp;&nbsp;&nbsp;**126284919** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(31382374)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33911826** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20748505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17775622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25481781) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2461150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6135017) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1636688) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7254687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6055887) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3738639) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(318967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4931682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1212560) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46816507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38952480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47129095) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4804529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7932221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1906048) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(74819699)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(62783989)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(76349515)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7584646)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18998920)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4755296)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42278201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27337200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8526812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54294929) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9194521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13916989) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(154905510)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(32546119)** | &nbsp;&nbsp;&nbsp;&nbsp;**(121553045)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**64405344** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41186773)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15239541** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;407280012 | &nbsp;&nbsp;&nbsp;&nbsp;439826131 | &nbsp;&nbsp;&nbsp;&nbsp;552748042 | &nbsp;&nbsp;&nbsp;&nbsp;488342698 | &nbsp;&nbsp;&nbsp;&nbsp;170400047 | &nbsp;&nbsp;&nbsp;&nbsp;155160506 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$252374502** | &nbsp;&nbsp;&nbsp;**$407280012** | &nbsp;&nbsp;&nbsp;**$431194997** | &nbsp;&nbsp;&nbsp;**$552748042** | &nbsp;&nbsp;&nbsp;**$129213274** | &nbsp;&nbsp;&nbsp;**$170400047** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;**Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;**Total Stock Market Index Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$120372933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$118739058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8098946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7811512 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415156888 | &nbsp;&nbsp;&nbsp;&nbsp;1229034854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43762736 | &nbsp;&nbsp;&nbsp;&nbsp;100576108 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(2039401233) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458922936 | &nbsp;&nbsp;&nbsp;&nbsp;(237583600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85012392 |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(1503871412)** | &nbsp;&nbsp;&nbsp;&nbsp;**1806696848** | &nbsp;&nbsp;&nbsp;&nbsp;**(185721918)** | &nbsp;&nbsp;&nbsp;&nbsp;**193400012** |
| **Distributions to shareholders** |  |  |  |  |
| From earnings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70332892) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34482074) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5990945) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2815513) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;(1325273153) | &nbsp;&nbsp;&nbsp;&nbsp;(1025242559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30163023) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14173525) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;**(1325273153)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1025242559)** | &nbsp;&nbsp;&nbsp;&nbsp;**(106486860)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51471112)** |
| **From portfolio share transactions** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443234136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(873587139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25406613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16492165) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2385910429)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(92132850)** | &nbsp;&nbsp;&nbsp;&nbsp;**(266802165)** | &nbsp;&nbsp;&nbsp;&nbsp;**125436735** |
| **Net assets** |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;9291222950 | &nbsp;&nbsp;&nbsp;&nbsp;9383355800 | &nbsp;&nbsp;&nbsp;&nbsp;941775476 | &nbsp;&nbsp;&nbsp;&nbsp;816338741 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$6905312521** | &nbsp;&nbsp;&nbsp;**$9291222950** | &nbsp;&nbsp;&nbsp;**$674973311** | &nbsp;&nbsp;&nbsp;**$941775476** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 52.44 | 0.59 | (10.22) | (9.63) | (0.56) | (1.55) |  | (2.11) | 40.70 | (18.37) | 0.55 | 0.30 | 1.31 | 4441 | 2 |
| 12-31-2021 | 43.08 | 0.52 | &nbsp;&nbsp;11.55 | 12.07 | (0.67) | (2.04) |  | (2.71) | 52.44 | &nbsp;&nbsp;28.29 | 0.54 | 0.30 | 1.06 | 5400 | 2 |
| 12-31-2020 | 37.84 | 0.65 | &nbsp;&nbsp;&nbsp;6.05 | &nbsp;&nbsp;6.70 | (0.71) | (0.75) |  | (1.46) | 43.08 | &nbsp;&nbsp;18.11 | 0.55 | 0.30 | 1.73 | 4313 | 4 |
| 12-31-2019 | 29.81 | 0.64 | &nbsp;&nbsp;&nbsp;8.52 | &nbsp;&nbsp;9.16 | (0.60) | (0.53) |  | (1.13) | 37.84 | &nbsp;&nbsp;31.05 | 0.55 | 0.30 | 1.84 | 3797 | 3<sup>3</sup> |
| 12-31-2018 | 32.20 | 0.60 | &nbsp;&nbsp;(2.02) | (1.42) | (0.44) | (0.53) |  | (0.97) | 29.81 | &nbsp;&nbsp;(4.69) | 0.55 | 0.30 | 1.81 | 3026 | 4 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 52.45 | 0.50 | (10.21) | (9.71) | (0.47) | (1.55) |  | (2.02) | 40.72 | (18.51) | 0.75 | 0.50 | 1.11 | &nbsp;&nbsp;&nbsp;&nbsp;70 | 2 |
| 12-31-2021 | 43.09 | 0.42 | &nbsp;&nbsp;11.56 | 11.98 | (0.58) | (2.04) |  | (2.62) | 52.45 | &nbsp;&nbsp;28.04 | 0.74 | 0.50 | 0.86 | &nbsp;&nbsp;&nbsp;&nbsp;96 | 2 |
| 12-31-2020 | 37.87 | 0.58 | &nbsp;&nbsp;&nbsp;6.02 | &nbsp;&nbsp;6.60 | (0.63) | (0.75) |  | (1.38) | 43.09 | &nbsp;&nbsp;17.83 | 0.75 | 0.50 | 1.53 | &nbsp;&nbsp;&nbsp;&nbsp;79 | 4 |
| 12-31-2019 | 29.83 | 0.57 | &nbsp;&nbsp;&nbsp;8.53 | &nbsp;&nbsp;9.10 | (0.53) | (0.53) |  | (1.06) | 37.87 | &nbsp;&nbsp;30.83 | 0.75 | 0.50 | 1.64 | &nbsp;&nbsp;&nbsp;&nbsp;78 | 3<sup>3</sup> |
| 12-31-2018 | 32.22 | 0.53 | &nbsp;&nbsp;(2.01) | (1.48) | (0.38) | (0.53) |  | (0.91) | 29.83 | &nbsp;&nbsp;(4.88) | 0.75 | 0.50 | 1.61 | &nbsp;&nbsp;&nbsp;&nbsp;66 | 4 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 52.43 | 0.61 | (10.20) | (9.59) | (0.59) | (1.55) |  | (2.14) | 40.70 | (18.31) | 0.50 | 0.25 | 1.36 | 2201 | 2 |
| 12-31-2021 | 43.07 | 0.54 | &nbsp;&nbsp;11.55 | 12.09 | (0.69) | (2.04) |  | (2.73) | 52.43 | &nbsp;&nbsp;28.36 | 0.49 | 0.25 | 1.11 | 2944 | 2 |
| 12-31-2020 | 37.84 | 0.67 | &nbsp;&nbsp;&nbsp;6.03 | &nbsp;&nbsp;6.70 | (0.72) | (0.75) |  | (1.47) | 43.07 | &nbsp;&nbsp;18.14 | 0.50 | 0.25 | 1.78 | 2433 | 4 |
| 12-31-2019 | 29.80 | 0.66 | &nbsp;&nbsp;&nbsp;8.52 | &nbsp;&nbsp;9.18 | (0.61) | (0.53) |  | (1.14) | 37.84 | &nbsp;&nbsp;31.16 | 0.50 | 0.25 | 1.90 | 2229 | 3<sup>3</sup> |
| 12-31-2018 | 32.19 | 0.61 | &nbsp;&nbsp;(2.01) | (1.40) | (0.46) | (0.53) |  | (0.99) | 29.80 | &nbsp;&nbsp;(4.65) | 0.50 | 0.25 | 1.86 | 1721 | 4 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes in-kind transactions.** |
| **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 13.11 | 0.17<sup>3</sup> | &nbsp;&nbsp;(2.02) | (1.85) | (0.16) | (1.51) |  | (1.67) | &nbsp;&nbsp;9.59 | (13.76) | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.54<sup>3</sup> | &nbsp;&nbsp;&nbsp;320 | 9 |
| 12-31-2021 | 12.26 | 0.15<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.80 | (0.15) | (0.80) |  | (0.95) | 13.11 | &nbsp;&nbsp;14.71 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.16<sup>3</sup> | &nbsp;&nbsp;&nbsp;374 | 5 |
| 12-31-2020 | 12.58 | 0.16<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;1.38 | (0.16) | (1.54) |  | (1.70) | 12.26 | &nbsp;&nbsp;12.02 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.30<sup>3</sup> | &nbsp;&nbsp;&nbsp;334 | 3 |
| 12-31-2019 | 11.84 | 0.19<sup>3</sup> | &nbsp;&nbsp;&nbsp;2.16 | &nbsp;&nbsp;2.35 | (0.16) | (1.45) |  | (1.61) | 12.58 | &nbsp;&nbsp;20.78 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.52<sup>3</sup> | &nbsp;&nbsp;&nbsp;306 | 7 |
| 12-31-2018 | 14.29 | 0.18<sup>3</sup> | &nbsp;&nbsp;(0.76) | (0.58) | (0.16) | (1.71) |  | (1.87) | 11.84 | &nbsp;&nbsp;(4.91) | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.27<sup>3</sup> | &nbsp;&nbsp;&nbsp;262 | 6 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 13.11 | 0.16<sup>3</sup> | &nbsp;&nbsp;(2.01) | (1.85) | (0.15) | (1.51) |  | (1.66) | &nbsp;&nbsp;9.60 | (13.77) | 0.78<sup>4</sup> | 0.71<sup>4</sup> | 1.37<sup>3</sup> | &nbsp;&nbsp;&nbsp;710 | 9 |
| 12-31-2021 | 12.26 | 0.13<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.78 | (0.13) | (0.80) |  | (0.93) | 13.11 | &nbsp;&nbsp;14.61 | 0.78<sup>4</sup> | 0.71<sup>4</sup> | 0.98<sup>3</sup> | &nbsp;&nbsp;&nbsp;921 | 5 |
| 12-31-2020 | 12.58 | 0.14<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.37 | (0.15) | (1.54) |  | (1.69) | 12.26 | &nbsp;&nbsp;11.92 | 0.78<sup>4</sup> | 0.71<sup>4</sup> | 1.15<sup>3</sup> | &nbsp;&nbsp;&nbsp;953 | 3 |
| 12-31-2019 | 11.84 | 0.17<sup>3</sup> | &nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;2.34 | (0.15) | (1.45) |  | (1.60) | 12.58 | &nbsp;&nbsp;20.67 | 0.78<sup>4</sup> | 0.71<sup>4</sup> | 1.36<sup>3</sup> | &nbsp;&nbsp;&nbsp;967 | 7 |
| 12-31-2018 | 14.30 | 0.15<sup>3</sup> | &nbsp;&nbsp;(0.75) | (0.60) | (0.15) | (1.71) |  | (1.86) | 11.84 | &nbsp;&nbsp;(5.06) | 0.78<sup>4</sup> | 0.71<sup>4</sup> | 1.11<sup>3</sup> | &nbsp;&nbsp;&nbsp;934 | 6 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 12-31-2022 | 13.12 | 0.21<sup>3</sup> | &nbsp;&nbsp;(2.02) | (1.81) | (0.20) | (1.51) |  | (1.71) | &nbsp;&nbsp;9.60 | (13.44) | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.82<sup>3</sup> | &nbsp;&nbsp;&nbsp;101 | 9 |
| 12-31-2021 | 12.27 | 0.19<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.65 | &nbsp;&nbsp;1.84 | (0.19) | (0.80) |  | (0.99) | 13.12 | &nbsp;&nbsp;15.07 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.45<sup>3</sup> | &nbsp;&nbsp;&nbsp;128 | 5 |
| 12-31-2020 | 12.58 | 0.20<sup>3</sup> | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.43 | (0.20) | (1.54) |  | (1.74) | 12.27 | &nbsp;&nbsp;12.45 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.61<sup>3</sup> | &nbsp;&nbsp;&nbsp;125 | 3 |
| 12-31-2019 | 11.84 | 0.23<sup>3</sup> | &nbsp;&nbsp;&nbsp;2.17 | &nbsp;&nbsp;2.40 | (0.21) | (1.45) |  | (1.66) | 12.58 | &nbsp;&nbsp;21.16 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.81<sup>3</sup> | &nbsp;&nbsp;&nbsp;122 | 7 |
| 12-31-2018 | 14.30 | 0.22<sup>3</sup> | &nbsp;&nbsp;(0.76) | (0.54) | (0.21) | (1.71) |  | (1.92) | 11.84 | &nbsp;&nbsp;(4.62) | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.56<sup>3</sup> | &nbsp;&nbsp;&nbsp;116 | 6 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 21.63 &nbsp;&nbsp;0.05<sup>3</sup> | (5.61) | (5.56) | (0.04) | (2.30) |  | (2.34) | 13.73 | (25.05) | 0.66<sup>4</sup> | 0.65<sup>4</sup> | &nbsp;&nbsp;0.33<sup>3</sup> | &nbsp;&nbsp;41 | 13 |
| 12-31-2021 | 19.75 (0.01)<sup>3</sup> | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.63 | &nbsp;&nbsp;16.00 | 0.64<sup>4</sup> | 0.63<sup>4</sup> | (0.04)<sup>3</sup> | &nbsp;&nbsp;48 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.49 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3, 5</sup> | &nbsp;&nbsp;4.76 | &nbsp;&nbsp;4.76 | (0.01) | (1.49) |  | (1.50) | 19.75 | &nbsp;&nbsp;29.96 | 0.65<sup>4</sup> | 0.64<sup>4</sup> | (0.02)<sup>3</sup> | &nbsp;&nbsp;39 | &nbsp;&nbsp;6 |
| 12-31-2019 | 13.68 &nbsp;&nbsp;0.12<sup>3</sup> | &nbsp;&nbsp;4.43 | &nbsp;&nbsp;4.55 | (0.10) | (1.64) |  | (1.74) | 16.49 | &nbsp;&nbsp;34.71 | 0.65<sup>4</sup> | 0.64<sup>4</sup> | &nbsp;&nbsp;0.79<sup>3</sup> | &nbsp;&nbsp;27 | &nbsp;&nbsp;9 |
| 12-31-2018 | 16.10 &nbsp;&nbsp;0.05<sup>3</sup> | (1.43) | (1.38) | (0.04) | (1.00) |  | (1.04) | 13.68 | &nbsp;&nbsp;(9.37) | 0.64<sup>4</sup> | 0.64<sup>4</sup> | &nbsp;&nbsp;0.29<sup>3</sup> | &nbsp;&nbsp;17 | 11 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 21.51 &nbsp;&nbsp;0.03<sup>3</sup> | (5.57) | (5.54) | (0.02) | (2.30) |  | (2.32) | 13.65 | (25.08) | 0.81<sup>4</sup> | 0.72<sup>4</sup> | &nbsp;&nbsp;0.18<sup>3</sup> | 112 | 13 |
| 12-31-2021 | 19.66 (0.03)<sup>3</sup> | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.51 | &nbsp;&nbsp;15.92 | 0.79<sup>4</sup> | 0.70<sup>4</sup> | (0.14)<sup>3</sup> | 169 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.44 (0.02)<sup>3</sup> | &nbsp;&nbsp;4.74 | &nbsp;&nbsp;4.72 | (0.01) | (1.49) |  | (1.50) | 19.66 | &nbsp;&nbsp;29.80 | 0.80<sup>4</sup> | 0.71<sup>4</sup> | (0.13)<sup>3</sup> | 172 | &nbsp;&nbsp;6 |
| 12-31-2019 | 13.64 &nbsp;&nbsp;0.09<sup>3</sup> | &nbsp;&nbsp;4.44 | &nbsp;&nbsp;4.53 | (0.09) | (1.64) |  | (1.73) | 16.44 | &nbsp;&nbsp;34.66 | 0.80<sup>4</sup> | 0.71<sup>4</sup> | &nbsp;&nbsp;0.60<sup>3</sup> | 161 | &nbsp;&nbsp;9 |
| 12-31-2018 | 16.06 &nbsp;&nbsp;0.03<sup>3</sup> | (1.42) | (1.39) | (0.03) | (1.00) |  | (1.03) | 13.64 | &nbsp;&nbsp;(9.46) | 0.79<sup>4</sup> | 0.71<sup>4</sup> | &nbsp;&nbsp;0.16<sup>3</sup> | 144 | 11 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 12-31-2022 | 21.71 &nbsp;&nbsp;0.11<sup>3</sup> | (5.64) | (5.53) | (0.09) | (2.30) |  | (2.39) | 13.79 | (24.77) | 0.31<sup>4</sup> | 0.30<sup>4</sup> | &nbsp;&nbsp;0.64<sup>3</sup> | &nbsp;&nbsp;25 | 13 |
| 12-31-2021 | 19.75 &nbsp;&nbsp;0.06<sup>3</sup> | &nbsp;&nbsp;3.17 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 21.71 | &nbsp;&nbsp;16.41 | 0.29<sup>4</sup> | 0.28<sup>4</sup> | &nbsp;&nbsp;0.29<sup>3</sup> | &nbsp;&nbsp;33 | &nbsp;&nbsp;8 |
| 12-31-2020 | 16.43 &nbsp;&nbsp;0.05<sup>3</sup> | &nbsp;&nbsp;4.77 | &nbsp;&nbsp;4.82 | (0.01) | (1.49) |  | (1.50) | 19.75 | &nbsp;&nbsp;30.44 | 0.30<sup>4</sup> | 0.29<sup>4</sup> | &nbsp;&nbsp;0.30<sup>3</sup> | &nbsp;&nbsp;32 | &nbsp;&nbsp;6 |
| 12-31-2019 | 13.63 &nbsp;&nbsp;0.16<sup>3</sup> | &nbsp;&nbsp;4.43 | &nbsp;&nbsp;4.59 | (0.15) | (1.64) |  | (1.79) | 16.43 | &nbsp;&nbsp;35.17 | 0.30<sup>4</sup> | 0.29<sup>4</sup> | &nbsp;&nbsp;1.03<sup>3</sup> | &nbsp;&nbsp;30 | &nbsp;&nbsp;9 |
| 12-31-2018 | 16.05 &nbsp;&nbsp;0.10<sup>3</sup> | (1.43) | (1.33) | (0.09) | (1.00) |  | (1.09) | 13.63 | &nbsp;&nbsp;(9.04) | 0.29<sup>4</sup> | 0.29<sup>4</sup> | &nbsp;&nbsp;0.60<sup>3</sup> | &nbsp;&nbsp;27 | 11 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Less than $0.005 per share.** |
| **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 26.51 &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3, 4</sup> | (7.86) | (7.86) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.26)<sup>5</sup> |  | (5.26) | 13.39 | (30.20) | 0.63<sup>6</sup> | 0.62<sup>6</sup> | (0.02)<sup>4</sup> | 188 | 11 |
| 12-31-2021 | 23.31 (0.04)<sup>4</sup> | &nbsp;&nbsp;5.05 | &nbsp;&nbsp;5.01 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.81)<sup>5</sup> |  | (1.81) | 26.51 | &nbsp;&nbsp;21.55 | 0.63<sup>6</sup> | 0.62<sup>6</sup> | (0.14)<sup>4</sup> | 265 | 14 |
| 12-31-2020 | 17.56 (0.01)<sup>4</sup> | &nbsp;&nbsp;8.58 | &nbsp;&nbsp;8.57 | (0.02) | (2.80) |  | (2.82) | 23.31 | &nbsp;&nbsp;51.52 | 0.63<sup>6</sup> | 0.62<sup>6</sup> | (0.06)<sup>4</sup> | 215 | &nbsp;&nbsp;4 |
| 12-31-2019 | 16.55 &nbsp;&nbsp;0.07<sup>4</sup> | &nbsp;&nbsp;4.50 | &nbsp;&nbsp;4.57 | (0.04) | (3.52) |  | (3.56) | 17.56 | &nbsp;&nbsp;30.30 | 0.63<sup>6</sup> | 0.63<sup>6</sup> | &nbsp;&nbsp;0.38<sup>4</sup> | 148 | 12 |
| 12-31-2018 | 20.17 &nbsp;&nbsp;0.01<sup>4</sup> | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.95)<sup>5</sup> |  | (3.95) | 16.55 | &nbsp;&nbsp;(0.66) | 0.63<sup>6</sup> | 0.62<sup>6</sup> | &nbsp;&nbsp;0.06<sup>4</sup> | 121 | 13 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 26.22 (0.02)<sup>4</sup> | (7.76) | (7.78) | (0.01) | (5.24)<sup>5</sup> |  | (5.25) | 13.19 | (30.25) | 0.78<sup>6</sup> | 0.68<sup>6</sup> | (0.11)<sup>4</sup> | 481 | 11 |
| 12-31-2021 | 23.07 (0.06)<sup>4</sup> | &nbsp;&nbsp;5.00 | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.79)<sup>5</sup> |  | (1.79) | 26.22 | &nbsp;&nbsp;21.49 | 0.78<sup>6</sup> | 0.68<sup>6</sup> | (0.23)<sup>4</sup> | 739 | 14 |
| 12-31-2020 | 17.41 (0.03)<sup>4</sup> | &nbsp;&nbsp;8.51 | &nbsp;&nbsp;8.48 | (0.02) | (2.80) |  | (2.82) | 23.07 | &nbsp;&nbsp;51.46 | 0.78<sup>6</sup> | 0.68<sup>6</sup> | (0.13)<sup>4</sup> | 729 | &nbsp;&nbsp;4 |
| 12-31-2019 | 16.44 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;4.47 | &nbsp;&nbsp;4.52 | (0.03) | (3.52) |  | (3.55) | 17.41 | &nbsp;&nbsp;30.20 | 0.78<sup>6</sup> | 0.69<sup>6</sup> | &nbsp;&nbsp;0.28<sup>4</sup> | 619 | 12 |
| 12-31-2018 | 20.06 (0.01)<sup>4</sup> | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.94)<sup>5</sup> |  | (3.94) | 16.44 | &nbsp;&nbsp;(0.71) | 0.78<sup>6</sup> | 0.68<sup>6</sup> | (0.03)<sup>4</sup> | 574 | 13 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 12-31-2022 | 26.38 &nbsp;&nbsp;0.06<sup>4</sup> | (7.82) | (7.76) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.33)<sup>5</sup> |  | (5.33) | 13.29 | (29.95) | 0.28<sup>6</sup> | 0.27<sup>6</sup> | &nbsp;&nbsp;0.31<sup>4</sup> | &nbsp;&nbsp;76 | 11 |
| 12-31-2021 | 23.19 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;5.04 | &nbsp;&nbsp;5.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.90)<sup>5</sup> |  | (1.90) | 26.38 | &nbsp;&nbsp;22.00 | 0.28<sup>6</sup> | 0.27<sup>6</sup> | &nbsp;&nbsp;0.19<sup>4</sup> | 106 | 14 |
| 12-31-2020 | 17.43 &nbsp;&nbsp;0.05<sup>4</sup> | &nbsp;&nbsp;8.53 | &nbsp;&nbsp;8.58 | (0.02) | (2.80) |  | (2.82) | 23.19 | &nbsp;&nbsp;51.98 | 0.28<sup>6</sup> | 0.27<sup>6</sup> | &nbsp;&nbsp;0.28<sup>4</sup> | 103 | &nbsp;&nbsp;4 |
| 12-31-2019 | 16.44 &nbsp;&nbsp;0.12<sup>4</sup> | &nbsp;&nbsp;4.49 | &nbsp;&nbsp;4.61 | (0.10) | (3.52) |  | (3.62) | 17.43 | &nbsp;&nbsp;30.80 | 0.28<sup>6</sup> | 0.28<sup>6</sup> | &nbsp;&nbsp;0.70<sup>4</sup> | &nbsp;&nbsp;91 | 12 |
| 12-31-2018 | 20.06 &nbsp;&nbsp;0.08<sup>4</sup> | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.40 | (0.05) | (3.97)<sup>5</sup> |  | (4.02) | 16.44 | &nbsp;&nbsp;(0.28) | 0.28<sup>6</sup> | 0.27<sup>6</sup> | &nbsp;&nbsp;0.38<sup>4</sup> | &nbsp;&nbsp;83 | 13 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Capital gain distributions may vary between classes due to expense differences applied to ordinary income distributions from underlying funds. 6 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 18.55 0.14<sup>3</sup> | (3.28) | (3.14) | (0.13) | (1.07) |  | (1.20) | 14.21 | (16.78) | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 0.89<sup>3</sup> | 268 | 12 |
| 12-31-2021 | 15.87 0.13<sup>3</sup> | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.72 | (0.13) | (0.91) |  | (1.04) | 18.55 | &nbsp;&nbsp;23.61 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 0.74<sup>3</sup> | 344 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.38 0.15<sup>3</sup> | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.90 | (0.16) | (2.25) |  | (2.41) | 15.87 | &nbsp;&nbsp;13.11 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 0.97<sup>3</sup> | 298 | &nbsp;&nbsp;8 |
| 12-31-2019 | 15.03 0.21<sup>3</sup> | &nbsp;&nbsp;3.45 | &nbsp;&nbsp;3.66 | (0.17) | (2.14) |  | (2.31) | 16.38 | &nbsp;&nbsp;25.70 | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.28<sup>3</sup> | 288 | 13 |
| 12-31-2018 | 17.69 0.17<sup>3</sup> | (0.32) | (0.15) | (0.17) | (2.34) |  | (2.51) | 15.03 | &nbsp;&nbsp;(2.18) | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 0.97<sup>3</sup> | 240 | 11 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 18.45 0.12<sup>3</sup> | (3.25) | (3.13) | (0.12) | (1.07) |  | (1.19) | 14.13 | (16.84) | 0.78<sup>4</sup> | 0.70<sup>4</sup> | 0.78<sup>3</sup> | 380 | 12 |
| 12-31-2021 | 15.79 0.11<sup>3</sup> | &nbsp;&nbsp;3.58 | &nbsp;&nbsp;3.69 | (0.12) | (0.91) |  | (1.03) | 18.45 | &nbsp;&nbsp;23.51 | 0.78<sup>4</sup> | 0.70<sup>4</sup> | 0.61<sup>3</sup> | 531 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.31 0.14<sup>3</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.88 | (0.15) | (2.25) |  | (2.40) | 15.79 | &nbsp;&nbsp;13.02 | 0.78<sup>4</sup> | 0.70<sup>4</sup> | 0.88<sup>3</sup> | 528 | &nbsp;&nbsp;8 |
| 12-31-2019 | 14.97 0.18<sup>3</sup> | &nbsp;&nbsp;3.46 | &nbsp;&nbsp;3.64 | (0.16) | (2.14) |  | (2.30) | 16.31 | &nbsp;&nbsp;25.64 | 0.78<sup>4</sup> | 0.70<sup>4</sup> | 1.13<sup>3</sup> | 518 | 13 |
| 12-31-2018 | 17.63 0.15<sup>3</sup> | (0.31) | (0.16) | (0.16) | (2.34) |  | (2.50) | 14.97 | &nbsp;&nbsp;(2.27) | 0.78<sup>4</sup> | 0.70<sup>4</sup> | 0.85<sup>3</sup> | 492 | 11 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 12-31-2022 | 18.52 0.20<sup>3</sup> | (3.29) | (3.09) | (0.19) | (1.07) |  | (1.26) | 14.17 | (16.56) | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.24<sup>3</sup> | 163 | 12 |
| 12-31-2021 | 15.83 0.19<sup>3</sup> | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;3.79 | (0.19) | (0.91) |  | (1.10) | 18.52 | &nbsp;&nbsp;24.13 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.05<sup>3</sup> | 216 | &nbsp;&nbsp;3 |
| 12-31-2020 | 16.34 0.21<sup>3</sup> | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;1.95 | (0.21) | (2.25) |  | (2.46) | 15.83 | &nbsp;&nbsp;13.47 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.32<sup>3</sup> | 208 | &nbsp;&nbsp;8 |
| 12-31-2019 | 14.99 0.26<sup>3</sup> | &nbsp;&nbsp;3.46 | &nbsp;&nbsp;3.72 | (0.23) | (2.14) |  | (2.37) | 16.34 | &nbsp;&nbsp;26.16 | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.58<sup>3</sup> | 202 | 13 |
| 12-31-2018 | 17.65 0.23<sup>3</sup> | (0.32) | (0.09) | (0.23) | (2.34) |  | (2.57) | 14.99 | &nbsp;&nbsp;(1.82) | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.30<sup>3</sup> | 189 | 11 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 20.56 0.22<sup>3</sup> | (4.63) | (4.41) | (0.22) | (0.90) |  | (1.12) | 15.03 | (21.11) | 0.64<sup>4</sup> | 0.63<sup>4</sup> | 1.32<sup>3</sup> | 106 | 15 |
| 12-31-2021 | 21.41 0.41<sup>3</sup> | (0.80) | (0.39) | (0.42) | (0.04) |  | (0.46) | 20.56 | &nbsp;&nbsp;(1.81) | 0.63<sup>4</sup> | 0.63<sup>4</sup> | 1.89<sup>3</sup> | 145 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.83 0.06<sup>3</sup> | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.52 | (0.07) | (0.87) |  | (0.94) | 21.41 | &nbsp;&nbsp;13.56 | 0.64<sup>4</sup> | 0.63<sup>4</sup> | 0.32<sup>3</sup> | 170 | 10 |
| 12-31-2019 | 17.67 0.22<sup>3</sup> | &nbsp;&nbsp;3.56 | &nbsp;&nbsp;3.78 | (0.18) | (1.44) |  | (1.62) | 19.83 | &nbsp;&nbsp;22.40 | 0.64<sup>4</sup> | 0.63<sup>4</sup> | 1.12<sup>3</sup> | 137 | 10 |
| 12-31-2018 | 21.93 0.28<sup>3</sup> | (3.14) | (2.86) | (0.27) | (1.13) |  | (1.40) | 17.67 | (13.46) | 0.63<sup>4</sup> | 0.62<sup>4</sup> | 1.32<sup>3</sup> | 119 | 20 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 20.54 0.20<sup>3</sup> | (4.61) | (4.41) | (0.20) | (0.90) |  | (1.10) | 15.03 | (21.16) | 0.79<sup>4</sup> | 0.76<sup>4</sup> | 1.20<sup>3</sup> | 206 | 15 |
| 12-31-2021 | 21.39 0.39<sup>3</sup> | (0.81) | (0.42) | (0.39) | (0.04) |  | (0.43) | 20.54 | &nbsp;&nbsp;(1.96) | 0.78<sup>4</sup> | 0.76<sup>4</sup> | 1.80<sup>3</sup> | 293 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.82 0.03<sup>3</sup> | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.49 | (0.05) | (0.87) |  | (0.92) | 21.39 | &nbsp;&nbsp;13.40 | 0.79<sup>4</sup> | 0.76<sup>4</sup> | 0.16<sup>3</sup> | 317 | 10 |
| 12-31-2019 | 17.66 0.17<sup>3</sup> | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.76 | (0.16) | (1.44) |  | (1.60) | 19.82 | &nbsp;&nbsp;22.27 | 0.79<sup>4</sup> | 0.76<sup>4</sup> | 0.88<sup>3</sup> | 310 | 10 |
| 12-31-2018 | 21.92 0.24<sup>3</sup> | (3.13) | (2.89) | (0.24) | (1.13) |  | (1.37) | 17.66 | (13.59) | 0.78<sup>4</sup> | 0.75<sup>4</sup> | 1.11<sup>3</sup> | 300 | 20 |
| **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** | **Series III** |
| 12-31-2022 | 20.48 0.29<sup>3</sup> | (4.62) | (4.33) | (0.28) | (0.90) |  | (1.18) | 14.97 | (20.80) | 0.29<sup>4</sup> | 0.28<sup>4</sup> | 1.72<sup>3</sup> | &nbsp;&nbsp;27 | 15 |
| 12-31-2021 | 21.34 0.50<sup>3</sup> | (0.82) | (0.32) | (0.50) | (0.04) |  | (0.54) | 20.48 | &nbsp;&nbsp;(1.50) | 0.28<sup>4</sup> | 0.28<sup>4</sup> | 2.31<sup>3</sup> | &nbsp;&nbsp;36 | &nbsp;&nbsp;9 |
| 12-31-2020 | 19.75 0.12<sup>3</sup> | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.59 | (0.13) | (0.87) |  | (1.00) | 21.34 | &nbsp;&nbsp;13.98 | 0.29<sup>4</sup> | 0.28<sup>4</sup> | 0.64<sup>3</sup> | &nbsp;&nbsp;38 | 10 |
| 12-31-2019 | 17.59 0.26<sup>3</sup> | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.85 | (0.25) | (1.44) |  | (1.69) | 19.75 | &nbsp;&nbsp;22.89 | 0.29<sup>4</sup> | 0.28<sup>4</sup> | 1.38<sup>3</sup> | &nbsp;&nbsp;37 | 10 |
| 12-31-2018 | 21.86 0.34<sup>3</sup> | (3.14) | (2.80) | (0.34) | (1.13) |  | (1.47) | 17.59 | (13.20) | 0.28<sup>4</sup> | 0.27<sup>4</sup> | 1.61<sup>3</sup> | &nbsp;&nbsp;35 | 20 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 40.95 | (0.08) | (14.95) | (15.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 18.06 | (38.09) | 0.83 | 0.79 | (0.28) | &nbsp;&nbsp;&nbsp;227 | 17 |
| 12-31-2021 | 40.21 | (0.20) | &nbsp;&nbsp;&nbsp;7.02 | &nbsp;&nbsp;&nbsp;6.82 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 40.95 | &nbsp;&nbsp;16.87 | 0.82 | 0.79 | (0.46) | &nbsp;&nbsp;&nbsp;402 | 36 |
| 12-31-2020 | 34.45 | (0.11) | &nbsp;&nbsp;11.57 | &nbsp;&nbsp;11.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 40.21 | &nbsp;&nbsp;34.30 | 0.83 | 0.80 | (0.28) | &nbsp;&nbsp;&nbsp;383 | 24 |
| 12-31-2019 | 30.96 | (0.02) | &nbsp;&nbsp;&nbsp;8.82 | &nbsp;&nbsp;&nbsp;8.80 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.31) |  | (5.31) | 34.45 | &nbsp;&nbsp;29.80 | 0.84 | 0.81 | (0.04) | &nbsp;&nbsp;&nbsp;325 | 29 |
| 12-31-2018 | 34.92 | (0.01) | &nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;1.31 | (0.01) | (5.26) |  | (5.27) | 30.96 | &nbsp;&nbsp;&nbsp;1.97 | 0.84 | 0.80 | (0.02) | &nbsp;&nbsp;&nbsp;289 | 35 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 38.84 | (0.13) | (14.14) | (14.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 16.71 | (38.20) | 1.03 | 0.99 | (0.48) | &nbsp;&nbsp;&nbsp;&nbsp;79 | 17 |
| 12-31-2021 | 38.48 | (0.27) | &nbsp;&nbsp;&nbsp;6.71 | &nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 38.84 | &nbsp;&nbsp;16.63 | 1.02 | 0.99 | (0.66) | &nbsp;&nbsp;&nbsp;146 | 36 |
| 12-31-2020 | 33.22 | (0.17) | &nbsp;&nbsp;11.13 | &nbsp;&nbsp;10.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 38.48 | &nbsp;&nbsp;34.06 | 1.03 | 1.00 | (0.48) | &nbsp;&nbsp;&nbsp;150 | 24 |
| 12-31-2019 | 30.07 | (0.08) | &nbsp;&nbsp;&nbsp;8.54 | &nbsp;&nbsp;&nbsp;8.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.31) |  | (5.31) | 33.22 | &nbsp;&nbsp;29.53 | 1.04 | 1.01 | (0.24) | &nbsp;&nbsp;&nbsp;134 | 29 |
| 12-31-2018 | 34.10 | (0.08) | &nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.26) |  | (5.26) | 30.07 | &nbsp;&nbsp;&nbsp;1.78 | 1.04 | 1.00 | (0.22) | &nbsp;&nbsp;&nbsp;123 | 35 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 41.04 | (0.07) | (14.98) | (15.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.86) |  | (7.86) | 18.13 | (38.05) | 0.78 | 0.74 | (0.23) | 1119 | 17 |
| 12-31-2021 | 40.27 | (0.18) | &nbsp;&nbsp;&nbsp;7.03 | &nbsp;&nbsp;&nbsp;6.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.08) |  | (6.08) | 41.04 | &nbsp;&nbsp;16.92 | 0.77 | 0.74 | (0.41) | 1883 | 36 |
| 12-31-2020 | 34.47 | (0.09) | &nbsp;&nbsp;11.59 | &nbsp;&nbsp;11.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.70) |  | (5.70) | 40.27 | &nbsp;&nbsp;34.40 | 0.78 | 0.75 | (0.23) | 1823 | 24 |
| 12-31-2019 | 30.97 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;8.81 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | (5.31) |  | (5.31) | 34.47 | &nbsp;&nbsp;29.83 | 0.79 | 0.76 | &nbsp;&nbsp;0.01 | 1708 | 29 |
| 12-31-2018 | 34.92 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;1.33 | (0.02) | (5.26) |  | (5.28) | 30.97 | &nbsp;&nbsp;&nbsp;2.03 | 0.79 | 0.75 | &nbsp;&nbsp;0.04 | 1512 | 35 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** |
| **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | &nbsp;&nbsp;7.48 | (0.01) | &nbsp;&nbsp;(2.70) | &nbsp;&nbsp;(2.71) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;3.28 | (37.70) | 0.81 | 0.81 | (0.22) | &nbsp;&nbsp;&nbsp;151 | 31 |
| 12-31-2021 | &nbsp;&nbsp;7.60 | (0.04) | &nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;7.48 | &nbsp;&nbsp;15.75 | 0.79 | 0.78 | (0.50) | &nbsp;&nbsp;&nbsp;272 | 40 |
| 12-31-2020 | &nbsp;&nbsp;5.39 | (0.02) | &nbsp;&nbsp;&nbsp;2.96 | &nbsp;&nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;7.60 | &nbsp;&nbsp;56.04 | 0.80 | 0.79 | (0.32) | &nbsp;&nbsp;&nbsp;272 | 56 |
| 12-31-2019 | 12.09 | (0.01) | &nbsp;&nbsp;&nbsp;2.92 | &nbsp;&nbsp;&nbsp;2.91 | (0.01) | (9.60) |  | (9.61) | &nbsp;&nbsp;5.39 | &nbsp;&nbsp;32.89 | 0.81 | 0.81 | (0.06) | &nbsp;&nbsp;&nbsp;195 | 40 |
| 12-31-2018 | 14.65 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;0.25 | (0.04) | (2.77) |  | (2.81) | 12.09 | &nbsp;&nbsp;(0.80) | 0.80 | 0.79 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;169 | 37 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | &nbsp;&nbsp;6.28 | (0.02) | &nbsp;&nbsp;(2.25) | &nbsp;&nbsp;(2.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;2.52 | (37.88) | 1.01 | 1.01 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;46 | 31 |
| 12-31-2021 | &nbsp;&nbsp;6.57 | (0.05) | &nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;1.05 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;6.28 | &nbsp;&nbsp;15.64 | 0.99 | 0.98 | (0.70) | &nbsp;&nbsp;&nbsp;&nbsp;88 | 40 |
| 12-31-2020 | &nbsp;&nbsp;4.74 | (0.03) | &nbsp;&nbsp;&nbsp;2.59 | &nbsp;&nbsp;&nbsp;2.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;6.57 | &nbsp;&nbsp;55.70 | 1.00 | 0.99 | (0.52) | &nbsp;&nbsp;&nbsp;&nbsp;89 | 56 |
| 12-31-2019 | 11.61 | (0.02) | &nbsp;&nbsp;&nbsp;2.75 | &nbsp;&nbsp;&nbsp;2.73 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | (9.60) |  | (9.60) | &nbsp;&nbsp;4.74 | &nbsp;&nbsp;32.65 | 1.01 | 1.01 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;66 | 40 |
| 12-31-2018 | 14.16 | (0.01) | &nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;0.23 | (0.01) | (2.77) |  | (2.78) | 11.61 | &nbsp;&nbsp;(0.99) | 1.00 | 0.99 | (0.07) | &nbsp;&nbsp;&nbsp;&nbsp;58 | 37 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | &nbsp;&nbsp;7.55 | (0.01) | &nbsp;&nbsp;(2.72) | &nbsp;&nbsp;(2.73) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.49) |  | (1.49) | &nbsp;&nbsp;3.33 | (37.59) | 0.76 | 0.76 | (0.18) | &nbsp;&nbsp;&nbsp;217 | 31 |
| 12-31-2021 | &nbsp;&nbsp;7.66 | (0.04) | &nbsp;&nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;1.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.34) |  | (1.34) | &nbsp;&nbsp;7.55 | &nbsp;&nbsp;15.76 | 0.74 | 0.73 | (0.45) | &nbsp;&nbsp;&nbsp;436 | 40 |
| 12-31-2020 | &nbsp;&nbsp;5.42 | (0.02) | &nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;&nbsp;2.97 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.73) |  | (0.73) | &nbsp;&nbsp;7.66 | &nbsp;&nbsp;56.29 | 0.75 | 0.74 | (0.27) | &nbsp;&nbsp;&nbsp;382 | 56 |
| 12-31-2019 | 12.11 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;2.92 | &nbsp;&nbsp;&nbsp;2.92 | (0.01) | (9.60) |  | (9.61) | &nbsp;&nbsp;5.42 | &nbsp;&nbsp;32.88 | 0.76 | 0.76 | (0.01) | &nbsp;&nbsp;&nbsp;282 | 40 |
| 12-31-2018 | 14.67 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;0.26 | (0.05) | (2.77) |  | (2.82) | 12.11 | &nbsp;&nbsp;(0.72) | 0.75 | 0.74 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;281 | 37 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 14.06 | 0.14 | (1.83) | (1.69) | (0.13) | (1.62) |  | (1.75) | 10.62 | (11.86) | 0.94 | 0.90 | 1.14 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;88 |
| 12-31-2021 | 13.39 | 0.09 | &nbsp;&nbsp;2.31 | &nbsp;&nbsp;2.40 | (0.11) | (1.62) |  | (1.73) | 14.06 | &nbsp;&nbsp;18.13 | 0.93 | 0.88 | 0.63 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;55 |
| 12-31-2020 | 12.55 | 0.11 | &nbsp;&nbsp;1.98 | &nbsp;&nbsp;2.09 | (0.15) | (1.10) |  | (1.25) | 13.39 | &nbsp;&nbsp;17.40 | 0.94 | 0.90 | 0.85 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;88 |
| 12-31-2019 | 10.92 | 0.16 | &nbsp;&nbsp;2.44 | &nbsp;&nbsp;2.60 | (0.17) | (0.80) |  | (0.97) | 12.55 | &nbsp;&nbsp;24.31 | 0.93 | 0.89 | 1.33 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;45 |
| 12-31-2018 | 11.98 | 0.28<sup>3</sup> | (0.18) | &nbsp;&nbsp;0.10 | (0.25) | (0.91) |  | (1.16) | 10.92 | &nbsp;&nbsp;&nbsp;0.39 | 0.92 | 0.88 | 2.35<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;78 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 13.97 | 0.11 | (1.82) | (1.71) | (0.10) | (1.62) |  | (1.72) | 10.54 | (12.07) | 1.14 | 1.10 | 0.93 | 233 | &nbsp;&nbsp;88 |
| 12-31-2021 | 13.32 | 0.06 | &nbsp;&nbsp;2.29 | &nbsp;&nbsp;2.35 | (0.08) | (1.62) |  | (1.70) | 13.97 | &nbsp;&nbsp;17.85 | 1.13 | 1.08 | 0.43 | 290 | &nbsp;&nbsp;55 |
| 12-31-2020 | 12.49 | 0.09 | &nbsp;&nbsp;1.96 | &nbsp;&nbsp;2.05 | (0.12) | (1.10) |  | (1.22) | 13.32 | &nbsp;&nbsp;17.19 | 1.14 | 1.10 | 0.68 | 287 | &nbsp;&nbsp;88 |
| 12-31-2019 | 10.87 | 0.14 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.56 | (0.14) | (0.80) |  | (0.94) | 12.49 | &nbsp;&nbsp;24.10 | 1.13 | 1.09 | 1.17 | 278 | &nbsp;&nbsp;45 |
| 12-31-2018 | 11.94 | 0.26<sup>3</sup> | (0.19) | &nbsp;&nbsp;0.07 | (0.23) | (0.91) |  | (1.14) | 10.87 | &nbsp;&nbsp;&nbsp;0.11 | 1.12 | 1.08 | 2.15<sup>3</sup> | 259 | &nbsp;&nbsp;78 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 14.01 | 0.15 | (1.84) | (1.69) | (0.13) | (1.62) |  | (1.75) | 10.57 | (11.87) | 0.89 | 0.85 | 1.20 | 179 | &nbsp;&nbsp;88 |
| 12-31-2021 | 13.35 | 0.10 | &nbsp;&nbsp;2.30 | &nbsp;&nbsp;2.40 | (0.12) | (1.62) |  | (1.74) | 14.01 | &nbsp;&nbsp;18.16 | 0.88 | 0.83 | 0.68 | 198 | &nbsp;&nbsp;55 |
| 12-31-2020 | 12.52 | 0.12 | &nbsp;&nbsp;1.96 | &nbsp;&nbsp;2.08 | (0.15) | (1.10) |  | (1.25) | 13.35 | &nbsp;&nbsp;17.42 | 0.89 | 0.85 | 0.93 | 156 | &nbsp;&nbsp;88 |
| 12-31-2019 | 10.89 | 0.17 | &nbsp;&nbsp;2.43 | &nbsp;&nbsp;2.60 | (0.17) | (0.80) |  | (0.97) | 12.52 | &nbsp;&nbsp;24.44 | 0.88 | 0.84 | 1.41 | 127 | &nbsp;&nbsp;45 |
| 12-31-2018 | 11.95 | 0.29<sup>3</sup> | (0.18) | &nbsp;&nbsp;0.11 | (0.26) | (0.91) |  | (1.17) | 10.89 | &nbsp;&nbsp;&nbsp;0.45 | 0.87 | 0.83 | 2.40<sup>3</sup> | &nbsp;&nbsp;91 | &nbsp;&nbsp;78 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.** |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 14.38 | 0.31 | (1.05) | (0.74) | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.49) | 13.15 | &nbsp;&nbsp;(4.77) | 0.93 | 0.92 | 2.33 | &nbsp;&nbsp;67 | &nbsp;&nbsp;74 |
| 12-31-2021 | 13.05 | 0.46 | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.71 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.38) | 14.38 | &nbsp;&nbsp;13.06 | 0.93 | 0.92 | 3.21 | &nbsp;&nbsp;78 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.92 | 0.21 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.38 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.25) | 13.05 | &nbsp;&nbsp;&nbsp;3.27 | 0.94 | 0.94 | 1.85 | &nbsp;&nbsp;77 | 190<sup>3</sup> |
| 12-31-2019 | 11.84 | 0.30 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.43 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.35) | 12.92 | &nbsp;&nbsp;12.33 | 0.94 | 0.94 | 2.39 | &nbsp;&nbsp;83 | &nbsp;&nbsp;36 |
| 12-31-2018 | 14.33 | 0.26 | (2.41) | (2.15) | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.34) | 11.84 | (15.03) | 0.92 | 0.91 | 1.87 | &nbsp;&nbsp;84 | &nbsp;&nbsp;34 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 14.37 | 0.29 | (1.06) | (0.77) | (0.46) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.46) | 13.14 | &nbsp;&nbsp;(4.98) | 1.13 | 1.12 | 2.15 | &nbsp;&nbsp;41 | &nbsp;&nbsp;74 |
| 12-31-2021 | 13.04 | 0.43 | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.68 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.35) | 14.37 | &nbsp;&nbsp;12.86 | 1.13 | 1.12 | 3.02 | &nbsp;&nbsp;46 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.91 | 0.19 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.36 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.23) | 13.04 | &nbsp;&nbsp;&nbsp;3.07 | 1.14 | 1.14 | 1.65 | &nbsp;&nbsp;46 | 190<sup>3</sup> |
| 12-31-2019 | 11.83 | 0.27 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;1.41 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.33) | 12.91 | &nbsp;&nbsp;12.13 | 1.14 | 1.14 | 2.19 | &nbsp;&nbsp;50 | &nbsp;&nbsp;36 |
| 12-31-2018 | 14.32 | 0.23 | (2.40) | (2.17) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.32) | 11.83 | (15.17) | 1.12 | 1.11 | 1.67 | &nbsp;&nbsp;50 | &nbsp;&nbsp;34 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 14.26 | 0.31 | (1.04) | (0.73) | (0.50) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.50) | 13.03 | &nbsp;&nbsp;(4.75) | 0.88 | 0.87 | 2.35 | 151 | &nbsp;&nbsp;74 |
| 12-31-2021 | 12.94 | 0.46 | &nbsp;&nbsp;1.24 | &nbsp;&nbsp;1.70 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.38) | 14.26 | &nbsp;&nbsp;13.15 | 0.88 | 0.87 | 3.26 | 193 | &nbsp;&nbsp;60 |
| 12-31-2020 | 12.82 | 0.21 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.37 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.25) | 12.94 | &nbsp;&nbsp;&nbsp;3.27 | 0.89 | 0.89 | 1.90 | 178 | 190<sup>3</sup> |
| 12-31-2019 | 11.75 | 0.30 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.43 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | 12.82 | &nbsp;&nbsp;12.41 | 0.89 | 0.89 | 2.41 | 177 | &nbsp;&nbsp;36 |
| 12-31-2018 | 14.22 | 0.27 | (2.39) | (2.12) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.35) | 11.75 | (14.96) | 0.87 | 0.86 | 1.98 | 167 | &nbsp;&nbsp;34 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 10.50 | 0.37 | (1.63) | (1.26) | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | &nbsp;&nbsp;8.88 | (11.67) | 1.12 | 1.11 | 3.83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | 15 |
| 12-31-2021 | &nbsp;&nbsp;9.67 | 0.26 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.09 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.26) | 10.50 | &nbsp;&nbsp;11.18 | 1.09 | 1.08 | 2.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.57 | 0.16 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.30 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.20) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.56 | 1.21 | 1.20 | 1.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | 26 |
| 12-31-2019 | &nbsp;&nbsp;8.93 | 0.16 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.94 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.30) | &nbsp;&nbsp;9.57 | &nbsp;&nbsp;10.94 | 1.18 | 1.17 | 1.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | 23 |
| 12-31-2018 | 10.63 | 0.19 | (1.63) | (1.44) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.26) | &nbsp;&nbsp;8.93 | (13.60) | 1.12 | 1.12 | 1.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | 14 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 10.51 | 0.35 | (1.63) | (1.28) | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.34) | &nbsp;&nbsp;8.89 | (11.87) | 1.32 | 1.31 | 3.61 | &nbsp;&nbsp;&nbsp;&nbsp;26 | 15 |
| 12-31-2021 | &nbsp;&nbsp;9.67 | 0.24 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;1.08 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.24) | 10.51 | &nbsp;&nbsp;11.08 | 1.29 | 1.28 | 2.27 | &nbsp;&nbsp;&nbsp;&nbsp;34 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.57 | 0.15 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.29 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.19) | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;3.36 | 1.41 | 1.40 | 1.82 | &nbsp;&nbsp;&nbsp;&nbsp;33 | 26 |
| 12-31-2019 | &nbsp;&nbsp;8.93 | 0.15 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;0.92 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.28) | &nbsp;&nbsp;9.57 | &nbsp;&nbsp;10.71 | 1.38 | 1.37 | 1.64 | &nbsp;&nbsp;&nbsp;&nbsp;35 | 23 |
| 12-31-2018 | 10.63 | 0.17 | (1.63) | (1.46) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.24) | &nbsp;&nbsp;8.93 | (13.79) | 1.32 | 1.32 | 1.72 | &nbsp;&nbsp;&nbsp;&nbsp;35 | 14 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 10.49 | 0.37 | (1.63) | (1.26) | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.36) | &nbsp;&nbsp;8.87 | (11.63) | 1.07 | 1.06 | 3.89 | &nbsp;&nbsp;&nbsp;173 | 15 |
| 12-31-2021 | &nbsp;&nbsp;9.65 | 0.27 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.10 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.26) | 10.49 | &nbsp;&nbsp;11.25 | 1.04 | 1.03 | 2.55 | &nbsp;&nbsp;&nbsp;210 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.55 | 0.17 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.31 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.21) | &nbsp;&nbsp;9.65 | &nbsp;&nbsp;&nbsp;3.72 | 1.16 | 1.15 | 2.07 | &nbsp;&nbsp;&nbsp;194 | 26 |
| 12-31-2019 | &nbsp;&nbsp;8.92 | 0.17 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.93 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.30) | &nbsp;&nbsp;9.55 | &nbsp;&nbsp;10.89 | 1.13 | 1.12 | 1.87 | &nbsp;&nbsp;&nbsp;193 | 23 |
| 12-31-2018 | 10.61 | 0.21 | (1.63) | (1.42) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.27) | &nbsp;&nbsp;8.92 | (13.48) | 1.07 | 1.07 | 2.04 | &nbsp;&nbsp;&nbsp;168 | 14 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 16.63 | 0.30 | (0.95) | (0.65) | (0.29) | (1.76) |  | (2.05) | 13.93 | &nbsp;&nbsp;(3.40) | 0.78 | 0.75 | 1.92 | &nbsp;&nbsp;&nbsp;218 | 16 |
| 12-31-2021 | 13.79 | 0.26 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;3.49 | (0.32) | (0.33) |  | (0.65) | 16.63 | &nbsp;&nbsp;25.42 | 0.77 | 0.74 | 1.62 | &nbsp;&nbsp;&nbsp;250 | 21 |
| 12-31-2020 | 15.35 | 0.30 | (0.40) | (0.10) | (0.41) | (1.05) |  | (1.46) | 13.79 | &nbsp;&nbsp;&nbsp;1.02 | 0.79 | 0.76 | 2.32 | &nbsp;&nbsp;&nbsp;225 | 28 |
| 12-31-2019 | 13.65 | 0.35 | &nbsp;&nbsp;3.07 | &nbsp;&nbsp;3.42 | (0.31) | (1.41) |  | (1.72) | 15.35 | &nbsp;&nbsp;26.34 | 0.80 | 0.77 | 2.30 | &nbsp;&nbsp;&nbsp;255 | 18<sup>3</sup> |
| 12-31-2018 | 17.50 | 0.35 | (1.74) | (1.39) | (0.30) | (2.16) |  | (2.46) | 13.65 | &nbsp;&nbsp;(9.58) | 0.81 | 0.78 | 2.12 | &nbsp;&nbsp;&nbsp;215 | 18 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 16.52 | 0.27 | (0.95) | (0.68) | (0.26) | (1.76) |  | (2.02) | 13.82 | &nbsp;&nbsp;(3.64) | 0.98 | 0.95 | 1.72 | &nbsp;&nbsp;&nbsp;113 | 16 |
| 12-31-2021 | 13.70 | 0.23 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.44 | (0.29) | (0.33) |  | (0.62) | 16.52 | &nbsp;&nbsp;25.21 | 0.97 | 0.94 | 1.42 | &nbsp;&nbsp;&nbsp;130 | 21 |
| 12-31-2020 | 15.27 | 0.27 | (0.40) | (0.13) | (0.39) | (1.05) |  | (1.44) | 13.70 | &nbsp;&nbsp;&nbsp;0.75 | 0.99 | 0.96 | 2.11 | &nbsp;&nbsp;&nbsp;120 | 28 |
| 12-31-2019 | 13.58 | 0.31 | &nbsp;&nbsp;3.07 | &nbsp;&nbsp;3.38 | (0.28) | (1.41) |  | (1.69) | 15.27 | &nbsp;&nbsp;26.17 | 1.00 | 0.97 | 2.10 | &nbsp;&nbsp;&nbsp;137 | 18<sup>3</sup> |
| 12-31-2018 | 17.42 | 0.32 | (1.73) | (1.41) | (0.27) | (2.16) |  | (2.43) | 13.58 | &nbsp;&nbsp;(9.75) | 1.01 | 0.98 | 1.92 | &nbsp;&nbsp;&nbsp;111 | 18 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 16.52 | 0.31 | (0.95) | (0.64) | (0.30) | (1.76) |  | (2.06) | 13.82 | &nbsp;&nbsp;(3.38) | 0.73 | 0.70 | 1.96 | 1043 | 16 |
| 12-31-2021 | 13.70 | 0.27 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.48 | (0.33) | (0.33) |  | (0.66) | 16.52 | &nbsp;&nbsp;25.49 | 0.72 | 0.69 | 1.67 | 1311 | 21 |
| 12-31-2020 | 15.27 | 0.31 | (0.41) | (0.10) | (0.42) | (1.05) |  | (1.47) | 13.70 | &nbsp;&nbsp;&nbsp;1.01 | 0.74 | 0.71 | 2.38 | 1139 | 28 |
| 12-31-2019 | 13.58 | 0.35 | &nbsp;&nbsp;3.07 | &nbsp;&nbsp;3.42 | (0.32) | (1.41) |  | (1.73) | 15.27 | &nbsp;&nbsp;26.47 | 0.75 | 0.72 | 2.34 | 1304 | 18<sup>3</sup> |
| 12-31-2018 | 17.42 | 0.36 | (1.73) | (1.37) | (0.31) | (2.16) |  | (2.47) | 13.58 | &nbsp;&nbsp;(9.52) | 0.76 | 0.73 | 2.18 | 1149 | 18 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 16.38 | &nbsp;&nbsp;0.22 | (2.47) | (2.25) | (0.35) | (2.58) |  | (2.93) | 11.20 | (13.67) | 0.91 | 0.90 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;93 | 50 |
| 12-31-2021 | 12.79 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;3.65 | &nbsp;&nbsp;3.80 | (0.13) | (0.08) |  | (0.21) | 16.38 | &nbsp;&nbsp;29.70 | 0.90 | 0.89 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;132 | 74 |
| 12-31-2020 | 14.08 | &nbsp;&nbsp;0.14 | (0.06) | &nbsp;&nbsp;0.08 | (0.17) | (1.20) |  | (1.37) | 12.79 | &nbsp;&nbsp;&nbsp;2.17 | 0.94 | 0.93 | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;93 | 44 |
| 12-31-2019 | 11.90 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;3.39 | &nbsp;&nbsp;3.60 | (0.60) | (0.82) |  | (1.42) | 14.08 | &nbsp;&nbsp;31.79 | 0.91 | 0.90 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;113 | 28 |
| 12-31-2018 | 14.99 | &nbsp;&nbsp;0.20 | (2.15) | (1.95) | (0.18) | (0.96) |  | (1.14) | 11.90 | (14.49) | 0.89 | 0.88 | &nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;120 | 25 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 16.21 | &nbsp;&nbsp;0.18 | (2.43) | (2.25) | (0.32) | (2.58) |  | (2.90) | 11.06 | (13.83) | 1.11 | 1.10 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;16 | 50 |
| 12-31-2021 | 12.67 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;3.62 | &nbsp;&nbsp;3.73 | (0.11) | (0.08) |  | (0.19) | 16.21 | &nbsp;&nbsp;29.38 | 1.10 | 1.09 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;22 | 74 |
| 12-31-2020 | 13.96 | &nbsp;&nbsp;0.11 | (0.05) | &nbsp;&nbsp;0.06 | (0.15) | (1.20) |  | (1.35) | 12.67 | &nbsp;&nbsp;&nbsp;1.99 | 1.14 | 1.13 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 44 |
| 12-31-2019 | 11.79 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;3.36 | &nbsp;&nbsp;3.54 | (0.55) | (0.82) |  | (1.37) | 13.96 | &nbsp;&nbsp;31.51 | 1.11 | 1.10 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;17 | 28 |
| 12-31-2018 | 14.88 | &nbsp;&nbsp;0.17 | (2.13) | (1.96) | (0.17) | (0.96) |  | (1.13) | 11.79 | (14.62) | 1.09 | 1.08 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;15 | 25 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 16.32 | &nbsp;&nbsp;0.22 | (2.45) | (2.23) | (0.36) | (2.58) |  | (2.94) | 11.15 | (13.61) | 0.86 | 0.85 | &nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp;27 | 50 |
| 12-31-2021 | 12.75 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;3.64 | &nbsp;&nbsp;3.79 | (0.14) | (0.08) |  | (0.22) | 16.32 | &nbsp;&nbsp;29.70 | 0.85 | 0.84 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;&nbsp;34 | 74 |
| 12-31-2020 | 14.03 | &nbsp;&nbsp;0.14 | (0.04) | &nbsp;&nbsp;0.10 | (0.18) | (1.20) |  | (1.38) | 12.75 | &nbsp;&nbsp;&nbsp;2.31 | 0.89 | 0.88 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;25 | 44 |
| 12-31-2019 | 11.88 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;3.38 | &nbsp;&nbsp;3.59 | (0.62) | (0.82) |  | (1.44) | 14.03 | &nbsp;&nbsp;31.71 | 0.86 | 0.85 | &nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp;28 | 28 |
| 12-31-2018 | 14.95 | &nbsp;&nbsp;0.21 | (2.14) | (1.93) | (0.18) | (0.96) |  | (1.14) | 11.88 | (14.38) | 0.84 | 0.83 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;29 | 25 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 36.40 | &nbsp;&nbsp;0.07 | (8.85) | (8.78) | (0.07) | (2.83) |  | (2.90) | 24.72 | (24.29) | 0.76 | 0.76 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;85 | 29 |
| 12-31-2021 | 30.15 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;9.14 | &nbsp;&nbsp;9.18 | (0.04) | (2.89) |  | (2.93) | 36.40 | &nbsp;&nbsp;30.63 | 0.76 | 0.75 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;138 | 14 |
| 12-31-2020 | 24.56 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;6.42 | &nbsp;&nbsp;6.48 | (0.10) | (0.79) |  | (0.89) | 30.15 | &nbsp;&nbsp;26.87 | 0.76 | 0.76 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;120 | 19 |
| 12-31-2019 | 19.64 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;6.79 | &nbsp;&nbsp;6.90 | (0.10) | (1.88) |  | (1.98) | 24.56 | &nbsp;&nbsp;36.45 | 0.77 | 0.76 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;119 | 15 |
| 12-31-2018 | 25.83 | &nbsp;&nbsp;0.09 | (2.79) | (2.70) | (0.10) | (3.39) |  | (3.49) | 19.64 | (13.16) | 0.76 | 0.76 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;122 | 24 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 36.24 | &nbsp;&nbsp;0.01 | (8.81) | (8.80) | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | (2.83) |  | (2.83) | 24.61 | (24.43) | 0.96 | 0.96 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;41 | 29 |
| 12-31-2021 | 30.06 | (0.03) | &nbsp;&nbsp;9.10 | &nbsp;&nbsp;9.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.89) |  | (2.89) | 36.24 | &nbsp;&nbsp;30.34 | 0.96 | 0.95 | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;62 | 14 |
| 12-31-2020 | 24.49 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;6.40 | &nbsp;&nbsp;6.41 | (0.05) | (0.79) |  | (0.84) | 30.06 | &nbsp;&nbsp;26.65 | 0.96 | 0.96 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;51 | 19 |
| 12-31-2019 | 19.59 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;6.78 | &nbsp;&nbsp;6.84 | (0.06) | (1.88) |  | (1.94) | 24.49 | &nbsp;&nbsp;36.18 | 0.97 | 0.96 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;49 | 15 |
| 12-31-2018 | 25.77 | &nbsp;&nbsp;0.04 | (2.78) | (2.74) | (0.05) | (3.39) |  | (3.44) | 19.59 | (13.34) | 0.96 | 0.96 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;41 | 24 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 36.66 | &nbsp;&nbsp;0.09 | (8.93) | (8.84) | (0.08) | (2.83) |  | (2.91) | 24.91 | (24.26) | 0.71 | 0.71 | &nbsp;&nbsp;0.29 | 1717 | 29 |
| 12-31-2021 | 30.34 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;9.21 | &nbsp;&nbsp;9.27 | (0.06) | (2.89) |  | (2.95) | 36.66 | &nbsp;&nbsp;30.68 | 0.71 | 0.70 | &nbsp;&nbsp;0.16 | 2457 | 14 |
| 12-31-2020 | 24.71 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;6.45 | &nbsp;&nbsp;6.53 | (0.11) | (0.79) |  | (0.90) | 30.34 | &nbsp;&nbsp;26.97 | 0.71 | 0.71 | &nbsp;&nbsp;0.30 | 2017 | 19 |
| 12-31-2019 | 19.74 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;6.84 | &nbsp;&nbsp;6.96 | (0.11) | (1.88) |  | (1.99) | 24.71 | &nbsp;&nbsp;36.58 | 0.72 | 0.71 | &nbsp;&nbsp;0.52 | 1700 | 15 |
| 12-31-2018 | 25.96 | &nbsp;&nbsp;0.11 | (2.82) | (2.71) | (0.12) | (3.39) |  | (3.51) | 19.74 | (13.16) | 0.71 | 0.71 | &nbsp;&nbsp;0.42 | 1347 | 24 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than 0.005%.** |

---

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 28.91 | 0.26 | (2.73) | (2.47) | (0.29) | (3.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.82) | 22.62 | &nbsp;&nbsp;(7.95) | 0.78 | 0.77 | 1.01 | 408 | &nbsp;&nbsp;&nbsp;&nbsp;21 |
| 12-31-2021 | 25.10 | 0.22 | &nbsp;&nbsp;7.34 | &nbsp;&nbsp;7.56 | (0.24) | (3.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.75) | 28.91 | &nbsp;&nbsp;29.96 | 0.77 | 0.76 | 0.75 | 483 | &nbsp;&nbsp;&nbsp;&nbsp;29 |
| 12-31-2020 | 23.13 | 0.21 | &nbsp;&nbsp;2.44 | &nbsp;&nbsp;2.65 | (0.24) | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.68) | 25.10 | &nbsp;&nbsp;11.96 | 0.79 | 0.78 | 0.95 | 391 | &nbsp;&nbsp;&nbsp;&nbsp;44 |
| 12-31-2019 | 17.51 | 0.25 | &nbsp;&nbsp;5.97 | &nbsp;&nbsp;6.22 | (0.25) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.60) | 23.13 | &nbsp;&nbsp;35.85 | 0.78 | 0.77 | 1.17 | 403 | &nbsp;&nbsp;&nbsp;&nbsp;13 |
| 12-31-2018 | 21.36 | 0.25 | (3.87) | (3.62) | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 17.51 | (17.03) | 0.75 | 0.74 | 1.18 | 366 | &nbsp;&nbsp;&nbsp;&nbsp;31 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 29.14 | 0.21 | (2.74) | (2.53) | (0.24) | (3.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.77) | 22.84 | &nbsp;&nbsp;(8.13) | 0.98 | 0.97 | 0.81 | 143 | &nbsp;&nbsp;&nbsp;&nbsp;21 |
| 12-31-2021 | 25.28 | 0.16 | &nbsp;&nbsp;7.39 | &nbsp;&nbsp;7.55 | (0.18) | (3.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.69) | 29.14 | &nbsp;&nbsp;29.72 | 0.97 | 0.96 | 0.55 | 177 | &nbsp;&nbsp;&nbsp;&nbsp;29 |
| 12-31-2020 | 23.29 | 0.16 | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.63 | (0.20) | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.64) | 25.28 | &nbsp;&nbsp;11.75 | 0.99 | 0.98 | 0.75 | 160 | &nbsp;&nbsp;&nbsp;&nbsp;44 |
| 12-31-2019 | 17.63 | 0.21 | &nbsp;&nbsp;6.00 | &nbsp;&nbsp;6.21 | (0.20) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.55) | 23.29 | &nbsp;&nbsp;35.59 | 0.98 | 0.97 | 0.97 | 164 | &nbsp;&nbsp;&nbsp;&nbsp;13 |
| 12-31-2018 | 21.51 | 0.21 | (3.90) | (3.69) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 17.63 | (17.23) | 0.95 | 0.94 | 0.98 | 150 | &nbsp;&nbsp;&nbsp;&nbsp;31 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 28.92 | 0.28 | (2.72) | (2.44) | (0.31) | (3.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.84) | 22.64 | &nbsp;&nbsp;(7.86) | 0.73 | 0.72 | 1.06 | 163 | &nbsp;&nbsp;&nbsp;&nbsp;21 |
| 12-31-2021 | 25.11 | 0.23 | &nbsp;&nbsp;7.34 | &nbsp;&nbsp;7.57 | (0.25) | (3.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.76) | 28.92 | &nbsp;&nbsp;30.00 | 0.72 | 0.71 | 0.79 | 163 | &nbsp;&nbsp;&nbsp;&nbsp;29 |
| 12-31-2020 | 23.14 | 0.21 | &nbsp;&nbsp;2.45 | &nbsp;&nbsp;2.66 | (0.25) | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.69) | 25.11 | &nbsp;&nbsp;12.01 | 0.74 | 0.73 | 0.99 | 125 | &nbsp;&nbsp;&nbsp;&nbsp;44 |
| 12-31-2019 | 17.51 | 0.25 | &nbsp;&nbsp;5.99 | &nbsp;&nbsp;6.24 | (0.26) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.61) | 23.14 | &nbsp;&nbsp;35.97 | 0.73 | 0.72 | 1.21 | &nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp;13 |
| 12-31-2018 | 21.37 | 0.26 | (3.88) | (3.62) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 17.51 | (17.03) | 0.70 | 0.69 | 1.23 | &nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp;31 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 25.34 | 0.31 | (4.12) | (3.81) | (0.61) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.04) | 19.49 | (14.84) | 0.94 | 0.93 | 1.40 | 212 | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| 12-31-2021 | 20.89 | 0.39 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.34 | &nbsp;&nbsp;21.30 | 0.93 | 0.92 | 1.68 | 277 | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| 12-31-2020 | 20.04 | 0.18 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.27 | (0.23) | (0.17) | (0.02) | (0.42) | 20.89 | &nbsp;&nbsp;&nbsp;6.60 | 1.06 | 1.05 | 0.96 | 265 | &nbsp;&nbsp;120<sup>3, 4</sup> |
| 12-31-2019 | 18.37 | 0.49 | &nbsp;&nbsp;2.32 | &nbsp;&nbsp;2.81 | (0.42) | (0.72) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.14) | 20.04 | &nbsp;&nbsp;16.04 | 1.00 | 0.95 | 2.51 | 115 | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| 12-31-2018 | 21.93 | 0.41 | (3.58) | (3.17) | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.39) | 18.37 | (14.49) | 0.98 | 0.95 | 1.91 | 115 | &nbsp;&nbsp;&nbsp;&nbsp;30 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 25.17 | 0.26 | (4.09) | (3.83) | (0.56) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.99) | 19.35 | (15.01) | 1.14 | 1.13 | 1.20 | &nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| 12-31-2021 | 20.79 | 0.34 | &nbsp;&nbsp;4.04 | &nbsp;&nbsp;4.38 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.17 | &nbsp;&nbsp;21.01 | 1.13 | 1.12 | 1.46 | &nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| 12-31-2020 | 19.95 | 0.18 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.22 | (0.19) | (0.17) | (0.02) | (0.38) | 20.79 | &nbsp;&nbsp;&nbsp;6.42 | 1.26 | 1.25 | 0.96 | &nbsp;&nbsp;27 | &nbsp;&nbsp;120<sup>3, 4</sup> |
| 12-31-2019 | 18.29 | 0.45 | &nbsp;&nbsp;2.31 | &nbsp;&nbsp;2.76 | (0.38) | (0.72) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.10) | 19.95 | &nbsp;&nbsp;15.83 | 1.20 | 1.15 | 2.31 | &nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| 12-31-2018 | 21.83 | 0.37 | (3.56) | (3.19) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 18.29 | (14.65) | 1.18 | 1.15 | 1.72 | &nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;30 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 25.32 | 0.32 | (4.12) | (3.80) | (0.62) | (1.43) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.05) | 19.47 | (14.81) | 0.89 | 0.88 | 1.45 | &nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| 12-31-2021 | 20.87 | 0.39 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.32 | &nbsp;&nbsp;21.32 | 0.88 | 0.87 | 1.69 | &nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| 12-31-2020 | 20.01 | 0.22 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.29 | (0.24) | (0.17) | (0.02) | (0.43) | 20.87 | &nbsp;&nbsp;&nbsp;6.71 | 1.01 | 1.00 | 1.20 | &nbsp;&nbsp;44 | &nbsp;&nbsp;120<sup>3, 4</sup> |
| 12-31-2019 | 18.35 | 0.49 | &nbsp;&nbsp;2.32 | &nbsp;&nbsp;2.81 | (0.43) | (0.72) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.15) | 20.01 | &nbsp;&nbsp;16.06 | 0.95 | 0.90 | 2.53 | &nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;20 |
| 12-31-2018 | 21.90 | 0.42 | (3.56) | (3.14) | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.41) | 18.35 | (14.42) | 0.93 | 0.90 | 1.94 | &nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;30 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 4 Excludes merger activity.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 31.29 | (0.07) | (4.14) | (4.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) |  | (3.24) | 23.84 | (13.09) | 1.06 | 1.01 | (0.29) | &nbsp;&nbsp;65 | 24 |
| 12-31-2021 | 31.07 | (0.15) | &nbsp;&nbsp;3.67 | &nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) |  | (3.30) | 31.29 | &nbsp;&nbsp;11.19 | 1.08 | 1.03 | (0.47) | &nbsp;&nbsp;80 | 29 |
| 12-31-2020 | 27.18 | (0.09) | &nbsp;&nbsp;7.18 | &nbsp;&nbsp;7.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) |  | (3.20) | 31.07 | &nbsp;&nbsp;27.17 | 1.15 | 1.09 | (0.32) | &nbsp;&nbsp;80 | 38 |
| 12-31-2019 | 22.87 | (0.08) | &nbsp;&nbsp;6.36 | &nbsp;&nbsp;6.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.97) |  | (1.97) | 27.18 | &nbsp;&nbsp;28.68 | 1.16 | 1.10 | (0.32) | &nbsp;&nbsp;72 | 34 |
| 12-31-2018 | 25.03 | (0.07) | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.66) |  | (2.66) | 22.87 | &nbsp;&nbsp;&nbsp;0.69 | 1.16 | 1.09 | (0.27) | &nbsp;&nbsp;99 | 42 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 27.76 | (0.11) | (3.68) | (3.79) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) |  | (3.24) | 20.73 | (13.24) | 1.26 | 1.21 | (0.49) | &nbsp;&nbsp;56 | 24 |
| 12-31-2021 | 27.95 | (0.19) | &nbsp;&nbsp;3.30 | &nbsp;&nbsp;3.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) |  | (3.30) | 27.76 | &nbsp;&nbsp;10.97 | 1.28 | 1.23 | (0.67) | &nbsp;&nbsp;75 | 29 |
| 12-31-2020 | 24.78 | (0.13) | &nbsp;&nbsp;6.50 | &nbsp;&nbsp;6.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) |  | (3.20) | 27.95 | &nbsp;&nbsp;26.89 | 1.35 | 1.29 | (0.52) | &nbsp;&nbsp;84 | 38 |
| 12-31-2019 | 21.05 | (0.12) | &nbsp;&nbsp;5.82 | &nbsp;&nbsp;5.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.97) |  | (1.97) | 24.78 | &nbsp;&nbsp;28.40 | 1.36 | 1.30 | (0.53) | &nbsp;&nbsp;71 | 34 |
| 12-31-2018 | 23.26 | (0.11) | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.66) |  | (2.66) | 21.05 | &nbsp;&nbsp;&nbsp;0.52 | 1.36 | 1.29 | (0.47) | &nbsp;&nbsp;66 | 42 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 31.98 | (0.06) | (4.22) | (4.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.24) |  | (3.24) | 24.46 | (13.02) | 1.01 | 0.96 | (0.23) | 157 | 24 |
| 12-31-2021 | 31.68 | (0.14) | &nbsp;&nbsp;3.74 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.30) |  | (3.30) | 31.98 | &nbsp;&nbsp;11.23 | 1.03 | 0.98 | (0.42) | 183 | 29 |
| 12-31-2020 | 27.64 | (0.08) | &nbsp;&nbsp;7.32 | &nbsp;&nbsp;7.24 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.20) |  | (3.20) | 31.68 | &nbsp;&nbsp;27.26 | 1.10 | 1.04 | (0.27) | 162 | 38 |
| 12-31-2019 | 23.22 | (0.08) | &nbsp;&nbsp;6.47 | &nbsp;&nbsp;6.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.97) |  | (1.97) | 27.64 | &nbsp;&nbsp;28.67 | 1.11 | 1.05 | (0.29) | 130 | 34 |
| 12-31-2018 | 25.37 | (0.06) | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.66) |  | (2.66) | 23.22 | &nbsp;&nbsp;&nbsp;0.76 | 1.11 | 1.04 | (0.22) | 107 | 42 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 20.25 | &nbsp;&nbsp;0.48 | (3.84) | (3.36) | (0.50) | (0.08) |  | (0.58) | 16.31 | (16.25) | 0.67 | 0.39 | &nbsp;&nbsp;2.77 | 294 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.55 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.50 | (0.55) | (0.25) |  | (0.80) | 20.25 | &nbsp;&nbsp;&nbsp;7.59 | 0.65 | 0.39 | &nbsp;&nbsp;2.29 | 371 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.30 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.86 | (0.44) | (0.17) |  | (0.61) | 19.55 | &nbsp;&nbsp;10.64 | 0.66 | 0.39 | &nbsp;&nbsp;2.07 | 361 | &nbsp;&nbsp;5 |
| 12-31-2019 | 15.44 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;2.77 | &nbsp;&nbsp;3.27 | (0.41) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.41) | 18.30 | &nbsp;&nbsp;21.37 | 0.67 | 0.39 | &nbsp;&nbsp;2.92 | 359 | &nbsp;&nbsp;5<sup>3</sup> |
| 12-31-2018 | 18.44 | &nbsp;&nbsp;0.45 | (3.02) | (2.57) | (0.42) | (0.01) |  | (0.43) | 15.44 | (14.09) | 0.66 | 0.39 | &nbsp;&nbsp;2.55 | 334 | &nbsp;&nbsp;2 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 20.27 | &nbsp;&nbsp;0.44 | (3.82) | (3.38) | (0.47) | (0.08) |  | (0.55) | 16.34 | (16.39) | 0.87 | 0.59 | &nbsp;&nbsp;2.55 | &nbsp;&nbsp;17 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.58 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.45 | (0.51) | (0.25) |  | (0.76) | 20.27 | &nbsp;&nbsp;&nbsp;7.33 | 0.85 | 0.59 | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;23 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.32 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.83 | (0.40) | (0.17) |  | (0.57) | 19.58 | &nbsp;&nbsp;10.48 | 0.86 | 0.59 | &nbsp;&nbsp;1.87 | &nbsp;&nbsp;23 | &nbsp;&nbsp;5 |
| 12-31-2019 | 15.46 | &nbsp;&nbsp;0.44 | &nbsp;&nbsp;2.80 | &nbsp;&nbsp;3.24 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.38) | 18.32 | &nbsp;&nbsp;21.11 | 0.87 | 0.59 | &nbsp;&nbsp;2.55 | &nbsp;&nbsp;22 | &nbsp;&nbsp;5<sup>3</sup> |
| 12-31-2018 | 18.46 | &nbsp;&nbsp;0.42 | (3.03) | (2.61) | (0.38) | (0.01) |  | (0.39) | 15.46 | (14.27) | 0.86 | 0.59 | &nbsp;&nbsp;2.37 | &nbsp;&nbsp;14 | &nbsp;&nbsp;2 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 20.24 | &nbsp;&nbsp;0.49 | (3.83) | (3.34) | (0.51) | (0.08) |  | (0.59) | 16.31 | (16.16) | 0.62 | 0.34 | &nbsp;&nbsp;2.84 | 468 | &nbsp;&nbsp;6 |
| 12-31-2021 | 19.55 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.50 | (0.56) | (0.25) |  | (0.81) | 20.24 | &nbsp;&nbsp;&nbsp;7.59 | 0.60 | 0.34 | &nbsp;&nbsp;2.33 | 535 | &nbsp;&nbsp;5 |
| 12-31-2020 | 18.29 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.87 | (0.44) | (0.17) |  | (0.61) | 19.55 | &nbsp;&nbsp;10.76 | 0.61 | 0.34 | &nbsp;&nbsp;2.11 | 484 | &nbsp;&nbsp;5 |
| 12-31-2019 | 15.43 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;2.78 | &nbsp;&nbsp;3.28 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.42) | 18.29 | &nbsp;&nbsp;21.44 | 0.62 | 0.34 | &nbsp;&nbsp;2.91 | 458 | &nbsp;&nbsp;5<sup>3</sup> |
| 12-31-2018 | 18.44 | &nbsp;&nbsp;0.46 | (3.03) | (2.57) | (0.43) | (0.01) |  | (0.44) | 15.43 | (14.10) | 0.61 | 0.34 | &nbsp;&nbsp;2.58 | 331 | &nbsp;&nbsp;2 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Excludes merger activity.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 16.08 | 0.25 | (3.32) | (3.07) | (0.26) | (1.03) |  | (1.29) | 11.72 | (18.17) | 1.08 | 1.08 | 1.92 | &nbsp;&nbsp;19 | 20 |
| 12-31-2021 | 14.73 | 0.21 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.03 | (0.21) | (0.47) |  | (0.68) | 16.08 | &nbsp;&nbsp;13.72 | 1.08 | 1.07 | 1.31 | &nbsp;&nbsp;26 | 23 |
| 12-31-2020 | 14.38 | 0.15 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;1.08 | (0.28) | (0.45) |  | (0.73) | 14.73 | &nbsp;&nbsp;&nbsp;8.37 | 1.23 | 1.22 | 1.20 | &nbsp;&nbsp;27 | 14 |
| 12-31-2019 | 12.55 | 0.24 | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.71 | (0.30) | (0.58) |  | (0.88) | 14.38 | &nbsp;&nbsp;22.60 | 1.20 | 1.19 | 1.76 | &nbsp;&nbsp;28 | 12 |
| 12-31-2018 | 15.95 | 0.24 | (3.45) | (3.21) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.19) | 12.55 | (20.09) | 1.15 | 1.14 | 1.55 | &nbsp;&nbsp;25 | 20 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 16.05 | 0.22 | (3.31) | (3.09) | (0.23) | (1.03) |  | (1.26) | 11.70 | (18.35) | 1.28 | 1.28 | 1.70 | &nbsp;&nbsp;12 | 20 |
| 12-31-2021 | 14.71 | 0.18 | &nbsp;&nbsp;1.81 | &nbsp;&nbsp;1.99 | (0.18) | (0.47) |  | (0.65) | 16.05 | &nbsp;&nbsp;13.47 | 1.28 | 1.27 | 1.12 | &nbsp;&nbsp;15 | 23 |
| 12-31-2020 | 14.36 | 0.13 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.05 | (0.25) | (0.45) |  | (0.70) | 14.71 | &nbsp;&nbsp;&nbsp;8.17 | 1.43 | 1.42 | 0.99 | &nbsp;&nbsp;15 | 14 |
| 12-31-2019 | 12.51 | 0.21 | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.68 | (0.25) | (0.58) |  | (0.83) | 14.36 | &nbsp;&nbsp;22.35 | 1.40 | 1.39 | 1.55 | &nbsp;&nbsp;15 | 12 |
| 12-31-2018 | 15.93 | 0.20 | (3.43) | (3.23) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.19) | 12.51 | (20.27) | 1.35 | 1.34 | 1.34 | &nbsp;&nbsp;14 | 20 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 16.09 | 0.26 | (3.33) | (3.07) | (0.27) | (1.03) |  | (1.30) | 11.72 | (18.17) | 1.03 | 1.03 | 1.96 | &nbsp;&nbsp;68 | 20 |
| 12-31-2021 | 14.74 | 0.22 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.04 | (0.22) | (0.47) |  | (0.69) | 16.09 | &nbsp;&nbsp;13.77 | 1.03 | 1.02 | 1.37 | &nbsp;&nbsp;88 | 23 |
| 12-31-2020 | 14.39 | 0.16 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.08 | (0.28) | (0.45) |  | (0.73) | 14.74 | &nbsp;&nbsp;&nbsp;8.41 | 1.18 | 1.17 | 1.25 | &nbsp;&nbsp;75 | 14 |
| 12-31-2019 | 12.56 | 0.25 | &nbsp;&nbsp;2.48 | &nbsp;&nbsp;2.73 | (0.32) | (0.58) |  | (0.90) | 14.39 | &nbsp;&nbsp;22.70 | 1.15 | 1.14 | 1.81 | &nbsp;&nbsp;73 | 12 |
| 12-31-2018 | 15.96 | 0.24 | (3.44) | (3.20) | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | (0.20) | 12.56 | (20.08) | 1.10 | 1.09 | 1.58 | &nbsp;&nbsp;74 | 20 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 16.79 | 0.31<sup>3</sup> | (2.95) | (2.64) | (0.30) | (1.30) |  | (1.60) | 12.55 | (15.45) | 0.12<sup>4</sup> | 0.12<sup>4</sup> | 2.11<sup>3</sup> | &nbsp;&nbsp;32 | 15 |
| 12-31-2021 | 16.40 | 0.37<sup>3</sup> | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;1.54 | (0.37) | (0.78) |  | (1.15) | 16.79 | &nbsp;&nbsp;&nbsp;9.44 | 0.12<sup>4</sup> | 0.11<sup>4</sup> | 2.18<sup>3</sup> | &nbsp;&nbsp;42 | 10 |
| 12-31-2020 | 15.43 | 0.38<sup>3</sup> | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.91 | (0.37) | (0.57) |  | (0.94) | 16.40 | &nbsp;&nbsp;12.69 | 0.12<sup>4</sup> | 0.12<sup>4</sup> | 2.45<sup>3</sup> | &nbsp;&nbsp;41 | 15 |
| 12-31-2019 | 13.76 | 0.33<sup>3</sup> | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.42 | (0.30) | (0.45) |  | (0.75) | 15.43 | &nbsp;&nbsp;17.73 | 0.12<sup>4</sup> | 0.12<sup>4</sup> | 2.19<sup>3</sup> | &nbsp;&nbsp;37 | 11 |
| 12-31-2018 | 14.98 | 0.32<sup>3</sup> | (0.96) | (0.64) | (0.33) | (0.25) |  | (0.58) | 13.76 | &nbsp;&nbsp;(4.36) | 0.12<sup>4</sup> | 0.12<sup>4</sup> | 2.13<sup>3</sup> | &nbsp;&nbsp;32 | &nbsp;&nbsp;8 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 16.82 | 0.27<sup>3</sup> | (2.94) | (2.67) | (0.27) | (1.30) |  | (1.57) | 12.58 | (15.60) | 0.32<sup>4</sup> | 0.32<sup>4</sup> | 1.87<sup>3</sup> | 730 | 15 |
| 12-31-2021 | 16.43 | 0.34<sup>3</sup> | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;1.51 | (0.34) | (0.78) |  | (1.12) | 16.82 | &nbsp;&nbsp;&nbsp;9.21 | 0.32<sup>4</sup> | 0.31<sup>4</sup> | 1.98<sup>3</sup> | 997 | 10 |
| 12-31-2020 | 15.46 | 0.35<sup>3</sup> | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.88 | (0.34) | (0.57) |  | (0.91) | 16.43 | &nbsp;&nbsp;12.47 | 0.32<sup>4</sup> | 0.32<sup>4</sup> | 2.26<sup>3</sup> | 960 | 15 |
| 12-31-2019 | 13.78 | 0.29<sup>3</sup> | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.40 | (0.27) | (0.45) |  | (0.72) | 15.46 | &nbsp;&nbsp;17.56 | 0.32<sup>4</sup> | 0.32<sup>4</sup> | 1.94<sup>3</sup> | 860 | 11 |
| 12-31-2018 | 15.01 | 0.27<sup>3</sup> | (0.95) | (0.68) | (0.30) | (0.25) |  | (0.55) | 13.78 | &nbsp;&nbsp;(4.63) | 0.32<sup>4</sup> | 0.32<sup>4</sup> | 1.84<sup>3</sup> | 781 | &nbsp;&nbsp;8 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 16.77 | 0.32<sup>3</sup> | (2.94) | (2.62) | (0.31) | (1.30) |  | (1.61) | 12.54 | (15.36) | 0.07<sup>4</sup> | 0.07<sup>4</sup> | 2.21<sup>3</sup> | 137 | 15 |
| 12-31-2021 | 16.38 | 0.40<sup>3</sup> | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;1.55 | (0.38) | (0.78) |  | (1.16) | 16.77 | &nbsp;&nbsp;&nbsp;9.51 | 0.07<sup>4</sup> | 0.06<sup>4</sup> | 2.33<sup>3</sup> | 161 | 10 |
| 12-31-2020 | 15.42 | 0.40<sup>3</sup> | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.91 | (0.38) | (0.57) |  | (0.95) | 16.38 | &nbsp;&nbsp;12.68 | 0.07<sup>4</sup> | 0.07<sup>4</sup> | 2.57<sup>3</sup> | 136 | 15 |
| 12-31-2019 | 13.74 | 0.34<sup>3</sup> | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.43 | (0.30) | (0.45) |  | (0.75) | 15.42 | &nbsp;&nbsp;17.89 | 0.07<sup>4</sup> | 0.07<sup>4</sup> | 2.29<sup>3</sup> | 113 | 11 |
| 12-31-2018 | 14.97 | 0.34<sup>3</sup> | (0.98) | (0.64) | (0.34) | (0.25) |  | (0.59) | 13.74 | &nbsp;&nbsp;(4.39) | 0.07<sup>4</sup> | 0.07<sup>4</sup> | 2.28<sup>3</sup> | &nbsp;&nbsp;89 | &nbsp;&nbsp;8 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 14.10 0.32<sup>3</sup> | (2.41) | (2.09) | (0.32) | (0.68) |  | (1.00) | 11.01 | (14.62) | 0.16<sup>4</sup> | 0.13<sup>4</sup> | 2.59<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;14 | 16 |
| 12-31-2021 | 14.43 0.38<sup>3</sup> | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.42 | (0.35) | (0.40) |  | (0.75) | 14.10 | &nbsp;&nbsp;&nbsp;2.96 | 0.14<sup>4</sup> | 0.13<sup>4</sup> | 2.62<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;18 | 22 |
| 12-31-2020 | 13.68 0.45<sup>3</sup> | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;1.46 | (0.40) | (0.31) |  | (0.71) | 14.43 | &nbsp;&nbsp;10.75 | 0.15<sup>4</sup> | 0.13<sup>4</sup> | 3.19<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;16 | 21 |
| 12-31-2019 | 12.67 0.32<sup>3</sup> | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.57 | (0.30) | (0.26) |  | (0.56) | 13.68 | &nbsp;&nbsp;12.46 | 0.15<sup>4</sup> | 0.13<sup>4</sup> | 2.36<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;12 | 21 |
| 12-31-2018 | 13.39 0.33<sup>3</sup> | (0.59) | (0.26) | (0.32) | (0.14) |  | (0.46) | 12.67 | &nbsp;&nbsp;(1.97) | 0.16<sup>4</sup> | 0.12<sup>4</sup> | 2.48<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;11 | 21 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 14.11 0.28<sup>3</sup> | (2.38) | (2.10) | (0.30) | (0.68) |  | (0.98) | 11.03 | (14.71) | 0.36<sup>4</sup> | 0.33<sup>4</sup> | 2.27<sup>3</sup> | &nbsp;&nbsp;&nbsp;144 | 16 |
| 12-31-2021 | 14.45 0.32<sup>3</sup> | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.39 | (0.33) | (0.40) |  | (0.73) | 14.11 | &nbsp;&nbsp;&nbsp;2.68 | 0.34<sup>4</sup> | 0.33<sup>4</sup> | 2.19<sup>3</sup> | &nbsp;&nbsp;&nbsp;200 | 22 |
| 12-31-2020 | 13.70 0.38<sup>3</sup> | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.43 | (0.37) | (0.31) |  | (0.68) | 14.45 | &nbsp;&nbsp;10.53 | 0.35<sup>4</sup> | 0.33<sup>4</sup> | 2.71<sup>3</sup> | &nbsp;&nbsp;&nbsp;208 | 21 |
| 12-31-2019 | 12.69 0.30<sup>3</sup> | &nbsp;&nbsp;1.25 | &nbsp;&nbsp;1.55 | (0.28) | (0.26) |  | (0.54) | 13.70 | &nbsp;&nbsp;12.22 | 0.35<sup>4</sup> | 0.33<sup>4</sup> | 2.20<sup>3</sup> | &nbsp;&nbsp;&nbsp;170 | 21 |
| 12-31-2018 | 13.41 0.30<sup>3</sup> | (0.58) | (0.28) | (0.30) | (0.14) |  | (0.44) | 12.69 | &nbsp;&nbsp;(2.17) | 0.36<sup>4</sup> | 0.32<sup>4</sup> | 2.29<sup>3</sup> | &nbsp;&nbsp;&nbsp;164 | 21 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 14.08 0.35<sup>3</sup> | (2.42) | (2.07) | (0.33) | (0.68) |  | (1.01) | 11.00 | (14.52) | 0.11<sup>4</sup> | 0.08<sup>4</sup> | 2.84<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | 16 |
| 12-31-2021 | 14.42 0.33<sup>3</sup> | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.42 | (0.36) | (0.40) |  | (0.76) | 14.08 | &nbsp;&nbsp;&nbsp;2.94 | 0.09<sup>4</sup> | 0.08<sup>4</sup> | 2.24<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | 22 |
| 12-31-2020 | 13.67 0.57<sup>3</sup> | &nbsp;&nbsp;0.89 | &nbsp;&nbsp;1.46 | (0.40) | (0.31) |  | (0.71) | 14.42 | &nbsp;&nbsp;10.80 | 0.10<sup>4</sup> | 0.08<sup>4</sup> | 4.03<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | 21 |
| 12-31-2019 | 12.66 0.31<sup>3</sup> | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;1.58 | (0.31) | (0.26) |  | (0.57) | 13.67 | &nbsp;&nbsp;12.52 | 0.10<sup>4</sup> | 0.08<sup>4</sup> | 2.29<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | 21 |
| 12-31-2018 | 13.38 0.36<sup>3</sup> | (0.61) | (0.25) | (0.33) | (0.14) |  | (0.47) | 12.66 | &nbsp;&nbsp;(1.92) | 0.11<sup>4</sup> | 0.07<sup>4</sup> | 2.70<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | 21 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 18.57 0.29<sup>3</sup> | (3.35) | (3.06) | (0.27) | (2.09) |  | (2.36) | 13.15 | (16.08) | 0.12<sup>4</sup> | 0.11<sup>4</sup> | 1.81<sup>3</sup> | &nbsp;&nbsp;&nbsp;194 | 12 |
| 12-31-2021 | 17.79 0.37<sup>3</sup> | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.48 | (0.36) | (1.34) |  | (1.70) | 18.57 | &nbsp;&nbsp;14.07 | 0.11<sup>4</sup> | 0.11<sup>4</sup> | 1.97<sup>3</sup> | &nbsp;&nbsp;&nbsp;252 | 12<sup>5</sup> |
| 12-31-2020 | 16.92 0.36<sup>3</sup> | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;2.20 | (0.37) | (0.96) |  | (1.33) | 17.79 | &nbsp;&nbsp;13.58 | 0.12<sup>4</sup> | 0.11<sup>4</sup> | 2.19<sup>3</sup> | &nbsp;&nbsp;&nbsp;236 | 13 |
| 12-31-2019 | 14.86 0.32<sup>3</sup> | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;3.13 | (0.30) | (0.77) |  | (1.07) | 16.92 | &nbsp;&nbsp;21.45 | 0.12<sup>4</sup> | 0.11<sup>4</sup> | 1.96<sup>3</sup> | &nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;7 |
| 12-31-2018 | 16.41 0.30<sup>3</sup> | (1.28) | (0.98) | (0.32) | (0.25) |  | (0.57) | 14.86 | &nbsp;&nbsp;(6.12) | 0.11<sup>4</sup> | 0.11<sup>4</sup> | 1.85<sup>3</sup> | &nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;5 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 18.59 0.25<sup>3</sup> | (3.34) | (3.09) | (0.24) | (2.09) |  | (2.33) | 13.17 | (16.24) | 0.32<sup>4</sup> | 0.31<sup>4</sup> | 1.59<sup>3</sup> | 4184 | 12 |
| 12-31-2021 | 17.81 0.33<sup>3</sup> | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.44 | (0.32) | (1.34) |  | (1.66) | 18.59 | &nbsp;&nbsp;13.84 | 0.31<sup>4</sup> | 0.31<sup>4</sup> | 1.72<sup>3</sup> | 5588 | 12<sup>5</sup> |
| 12-31-2020 | 16.94 0.33<sup>3</sup> | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;2.17 | (0.34) | (0.96) |  | (1.30) | 17.81 | &nbsp;&nbsp;13.37 | 0.32<sup>4</sup> | 0.31<sup>4</sup> | 1.97<sup>3</sup> | 5588 | 13 |
| 12-31-2019 | 14.88 0.29<sup>3</sup> | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;3.10 | (0.27) | (0.77) |  | (1.04) | 16.94 | &nbsp;&nbsp;21.20 | 0.32<sup>4</sup> | 0.31<sup>4</sup> | 1.75<sup>3</sup> | 5567 | &nbsp;&nbsp;7 |
| 12-31-2018 | 16.43 0.27<sup>3</sup> | (1.29) | (1.02) | (0.28) | (0.25) |  | (0.53) | 14.88 | &nbsp;&nbsp;(6.31) | 0.31<sup>4</sup> | 0.31<sup>4</sup> | 1.62<sup>3</sup> | 5225 | &nbsp;&nbsp;5 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 18.56 0.30<sup>3</sup> | (3.34) | (3.04) | (0.28) | (2.09) |  | (2.37) | 13.15 | (15.99) | 0.07<sup>4</sup> | 0.06<sup>4</sup> | 1.92<sup>3</sup> | &nbsp;&nbsp;&nbsp;495 | 12 |
| 12-31-2021 | 17.78 0.40<sup>3</sup> | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.49 | (0.37) | (1.34) |  | (1.71) | 18.56 | &nbsp;&nbsp;14.13 | 0.06<sup>4</sup> | 0.06<sup>4</sup> | 2.12<sup>3</sup> | &nbsp;&nbsp;&nbsp;587 | 12<sup>5</sup> |
| 12-31-2020 | 16.91 0.38<sup>3</sup> | &nbsp;&nbsp;1.83 | &nbsp;&nbsp;2.21 | (0.38) | (0.96) |  | (1.34) | 17.78 | &nbsp;&nbsp;13.63 | 0.07<sup>4</sup> | 0.06<sup>4</sup> | 2.30<sup>3</sup> | &nbsp;&nbsp;&nbsp;477 | 13 |
| 12-31-2019 | 14.85 0.34<sup>3</sup> | &nbsp;&nbsp;2.80 | &nbsp;&nbsp;3.14 | (0.31) | (0.77) |  | (1.08) | 16.91 | &nbsp;&nbsp;21.52 | 0.07<sup>4</sup> | 0.06<sup>4</sup> | 2.10<sup>3</sup> | &nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;7 |
| 12-31-2018 | 16.40 0.33<sup>3</sup> | (1.31) | (0.98) | (0.32) | (0.25) |  | (0.57) | 14.85 | &nbsp;&nbsp;(6.07) | 0.06<sup>4</sup> | 0.06<sup>4</sup> | 2.00<sup>3</sup> | &nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;5 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5 Excludes merger activity.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 113 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 15.82 | &nbsp;&nbsp;0.31<sup>3</sup> | (2.75) | (2.44) | (0.31) | (1.10) |  | (1.41) | 11.97 | (15.19) | 0.14<sup>4</sup> | 0.13<sup>4</sup> | &nbsp;&nbsp;2.28<sup>3</sup> | &nbsp;&nbsp;12 | 15 |
| 12-31-2021 | 15.74 | &nbsp;&nbsp;0.38<sup>3</sup> | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;1.13 | (0.36) | (0.69) |  | (1.05) | 15.82 | &nbsp;&nbsp;&nbsp;7.25 | 0.13<sup>4</sup> | 0.13<sup>4</sup> | &nbsp;&nbsp;2.36<sup>3</sup> | &nbsp;&nbsp;16 | 13 |
| 12-31-2020 | 14.85 | &nbsp;&nbsp;0.40<sup>3</sup> | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.76 | (0.38) | (0.49) |  | (0.87) | 15.74 | &nbsp;&nbsp;12.09 | 0.14<sup>4</sup> | 0.13<sup>4</sup> | &nbsp;&nbsp;2.64<sup>3</sup> | &nbsp;&nbsp;14 | 17 |
| 12-31-2019 | 13.38 | &nbsp;&nbsp;0.33<sup>3</sup> | &nbsp;&nbsp;1.79 | &nbsp;&nbsp;2.12 | (0.29) | (0.36) |  | (0.65) | 14.85 | &nbsp;&nbsp;15.97 | 0.14<sup>4</sup> | 0.13<sup>4</sup> | &nbsp;&nbsp;2.28<sup>3</sup> | &nbsp;&nbsp;12 | 15 |
| 12-31-2018 | 14.44 | &nbsp;&nbsp;0.31<sup>3</sup> | (0.81) | (0.50) | (0.33) | (0.23) |  | (0.56) | 13.38 | &nbsp;&nbsp;(3.58) | 0.14<sup>4</sup> | 0.13<sup>4</sup> | &nbsp;&nbsp;2.17<sup>3</sup> | &nbsp;&nbsp;10 | &nbsp;&nbsp;8 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 15.85 | &nbsp;&nbsp;0.28<sup>3</sup> | (2.75) | (2.47) | (0.28) | (1.10) |  | (1.38) | 12.00 | (15.34) | 0.34<sup>4</sup> | 0.33<sup>4</sup> | &nbsp;&nbsp;2.00<sup>3</sup> | 224 | 15 |
| 12-31-2021 | 15.77 | &nbsp;&nbsp;0.33<sup>3</sup> | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.10 | (0.33) | (0.69) |  | (1.02) | 15.85 | &nbsp;&nbsp;&nbsp;7.03 | 0.33<sup>4</sup> | 0.33<sup>4</sup> | &nbsp;&nbsp;2.05<sup>3</sup> | 301 | 13 |
| 12-31-2020 | 14.88 | &nbsp;&nbsp;0.37<sup>3</sup> | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.73 | (0.35) | (0.49) |  | (0.84) | 15.77 | &nbsp;&nbsp;11.87 | 0.34<sup>4</sup> | 0.33<sup>4</sup> | &nbsp;&nbsp;2.43<sup>3</sup> | 307 | 17 |
| 12-31-2019 | 13.41 | &nbsp;&nbsp;0.29<sup>3</sup> | &nbsp;&nbsp;1.80 | &nbsp;&nbsp;2.09 | (0.26) | (0.36) |  | (0.62) | 14.88 | &nbsp;&nbsp;15.72 | 0.34<sup>4</sup> | 0.33<sup>4</sup> | &nbsp;&nbsp;2.00<sup>3</sup> | 269 | 15 |
| 12-31-2018 | 14.47 | &nbsp;&nbsp;0.28<sup>3</sup> | (0.81) | (0.53) | (0.30) | (0.23) |  | (0.53) | 13.41 | &nbsp;&nbsp;(3.77) | 0.34<sup>4</sup> | 0.33<sup>4</sup> | &nbsp;&nbsp;1.94<sup>3</sup> | 247 | &nbsp;&nbsp;8 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 15.81 | &nbsp;&nbsp;0.33<sup>3</sup> | (2.76) | (2.43) | (0.31) | (1.10) |  | (1.41) | 11.97 | (15.08) | 0.09<sup>4</sup> | 0.08<sup>4</sup> | &nbsp;&nbsp;2.37<sup>3</sup> | &nbsp;&nbsp;39 | 15 |
| 12-31-2021 | 15.74 | &nbsp;&nbsp;0.40<sup>3</sup> | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;1.13 | (0.37) | (0.69) |  | (1.06) | 15.81 | &nbsp;&nbsp;&nbsp;7.23 | 0.08<sup>4</sup> | 0.08<sup>4</sup> | &nbsp;&nbsp;2.44<sup>3</sup> | &nbsp;&nbsp;45 | 13 |
| 12-31-2020 | 14.84 | &nbsp;&nbsp;0.40<sup>3</sup> | &nbsp;&nbsp;1.38 | &nbsp;&nbsp;1.78 | (0.39) | (0.49) |  | (0.88) | 15.74 | &nbsp;&nbsp;12.22 | 0.09<sup>4</sup> | 0.08<sup>4</sup> | &nbsp;&nbsp;2.67<sup>3</sup> | &nbsp;&nbsp;35 | 17 |
| 12-31-2019 | 13.38 | &nbsp;&nbsp;0.35<sup>3</sup> | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;2.12 | (0.30) | (0.36) |  | (0.66) | 14.84 | &nbsp;&nbsp;15.95 | 0.09<sup>4</sup> | 0.08<sup>4</sup> | &nbsp;&nbsp;2.39<sup>3</sup> | &nbsp;&nbsp;30 | 15 |
| 12-31-2018 | 14.44 | &nbsp;&nbsp;0.35<sup>3</sup> | (0.85) | (0.50) | (0.33) | (0.23) |  | (0.56) | 13.38 | &nbsp;&nbsp;(3.53) | 0.09<sup>4</sup> | 0.08<sup>4</sup> | &nbsp;&nbsp;2.46<sup>3</sup> | &nbsp;&nbsp;22 | &nbsp;&nbsp;8 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 4 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 19.86 | (0.06) | (6.98) | (7.04) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;7.27 | (34.64) | 0.93 | 0.93 | (0.50) | 128 | 97 |
| 12-31-2021 | 26.19 | (0.19) | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 19.86 | &nbsp;&nbsp;&nbsp;3.54 | 0.92 | 0.92 | (0.71) | 215 | 91 |
| 12-31-2020 | 18.07 | (0.13) | 11.50 | 11.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 26.19 | &nbsp;&nbsp;65.39 | 0.93 | 0.92 | (0.61) | 234 | 98 |
| 12-31-2019 | 15.79 | (0.10) | &nbsp;&nbsp;5.44 | &nbsp;&nbsp;5.34 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.06) |  | (3.06) | 18.07 | &nbsp;&nbsp;34.53 | 0.93 | 0.93 | (0.54) | 168 | 64 |
| 12-31-2018 | 17.82 | (0.08) | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.10) |  | (2.10) | 15.79 | &nbsp;&nbsp;(1.56) | 0.93 | 0.92 | (0.41) | 142 | 69 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 17.47 | (0.07) | (6.16) | (6.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;5.69 | (34.77) | 1.13 | 1.13 | (0.70) | &nbsp;&nbsp;60 | 97 |
| 12-31-2021 | 23.93 | (0.22) | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 17.47 | &nbsp;&nbsp;&nbsp;3.30 | 1.12 | 1.12 | (0.92) | 105 | 91 |
| 12-31-2020 | 16.74 | (0.16) | 10.60 | 10.44 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 23.93 | &nbsp;&nbsp;65.02 | 1.13 | 1.12 | (0.81) | 120 | 98 |
| 12-31-2019 | 14.83 | (0.13) | &nbsp;&nbsp;5.10 | &nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.06) |  | (3.06) | 16.74 | &nbsp;&nbsp;34.25 | 1.13 | 1.13 | (0.74) | &nbsp;&nbsp;86 | 64 |
| 12-31-2018 | 16.87 | (0.11) | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.10) |  | (2.10) | 14.83 | &nbsp;&nbsp;(1.71) | 1.13 | 1.12 | (0.61) | &nbsp;&nbsp;73 | 69 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 20.40 | (0.06) | (7.16) | (7.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.55) |  | (5.55) | &nbsp;&nbsp;7.63 | (34.61) | 0.88 | 0.88 | (0.44) | 373 | 97 |
| 12-31-2021 | 26.70 | (0.18) | &nbsp;&nbsp;1.60 | &nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;— | (7.72) |  | (7.72) | 20.40 | &nbsp;&nbsp;&nbsp;3.58 | 0.87 | 0.87 | (0.66) | 611 | 91 |
| 12-31-2020 | 18.37 | (0.12) | 11.70 | 11.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.25) |  | (3.25) | 26.70 | &nbsp;&nbsp;65.47 | 0.88 | 0.87 | (0.55) | 635 | 98 |
| 12-31-2019 | 16.00 | (0.09) | &nbsp;&nbsp;5.52 | &nbsp;&nbsp;5.43 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.06) |  | (3.06) | 18.37 | &nbsp;&nbsp;34.63 | 0.88 | 0.88 | (0.49) | 535 | 64 |
| 12-31-2018 | 18.03 | (0.07) | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.10) |  | (2.10) | 16.00 | &nbsp;&nbsp;(1.54) | 0.88 | 0.87 | (0.35) | 454 | 69 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 114 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 24.89 | 0.25 | (3.67) | (3.42) | (0.24) | (3.12) |  | (3.36) | 18.11 | (13.43) | 0.56 | 0.45 | 1.15 | &nbsp;&nbsp;&nbsp;844 | 12 |
| 12-31-2021 | 21.34 | 0.19 | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;5.14 | (0.23) | (1.36) |  | (1.59) | 24.89 | &nbsp;&nbsp;24.21 | 0.56 | 0.45 | 0.78 | 1086 | 17 |
| 12-31-2020 | 21.39 | 0.21 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;2.40 | (0.32) | (2.13) |  | (2.45) | 21.34 | &nbsp;&nbsp;13.22 | 0.56 | 0.46 | 1.10 | &nbsp;&nbsp;&nbsp;996 | 14 |
| 12-31-2019 | 18.83 | 0.26 | &nbsp;&nbsp;4.36 | &nbsp;&nbsp;4.62 | (0.24) | (1.82) |  | (2.06) | 21.39 | &nbsp;&nbsp;25.59 | 0.56 | 0.45 | 1.22 | 1047 | 15 |
| 12-31-2018 | 23.00 | 0.27 | (2.60) | (2.33) | (0.25) | (1.59) |  | (1.84) | 18.83 | (11.46) | 0.56 | 0.45 | 1.17 | 1029 | 15 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 24.73 | 0.20 | (3.63) | (3.43) | (0.20) | (3.12) |  | (3.32) | 17.98 | (13.59) | 0.76 | 0.65 | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp;55 | 12 |
| 12-31-2021 | 21.21 | 0.14 | &nbsp;&nbsp;4.91 | &nbsp;&nbsp;5.05 | (0.17) | (1.36) |  | (1.53) | 24.73 | &nbsp;&nbsp;23.96 | 0.76 | 0.65 | 0.58 | &nbsp;&nbsp;&nbsp;&nbsp;73 | 17 |
| 12-31-2020 | 21.28 | 0.17 | &nbsp;&nbsp;2.17 | &nbsp;&nbsp;2.34 | (0.28) | (2.13) |  | (2.41) | 21.21 | &nbsp;&nbsp;12.98 | 0.76 | 0.66 | 0.90 | &nbsp;&nbsp;&nbsp;&nbsp;67 | 14 |
| 12-31-2019 | 18.73 | 0.21 | &nbsp;&nbsp;4.36 | &nbsp;&nbsp;4.57 | (0.20) | (1.82) |  | (2.02) | 21.28 | &nbsp;&nbsp;25.43 | 0.76 | 0.65 | 1.02 | &nbsp;&nbsp;&nbsp;&nbsp;70 | 15 |
| 12-31-2018 | 22.89 | 0.22 | (2.58) | (2.36) | (0.21) | (1.59) |  | (1.80) | 18.73 | (11.66) | 0.76 | 0.65 | 0.96 | &nbsp;&nbsp;&nbsp;&nbsp;66 | 15 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 24.89 | 0.26 | (3.66) | (3.40) | (0.26) | (3.12) |  | (3.38) | 18.11 | (13.39) | 0.51 | 0.40 | 1.20 | &nbsp;&nbsp;&nbsp;235 | 12 |
| 12-31-2021 | 21.34 | 0.21 | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;5.15 | (0.24) | (1.36) |  | (1.60) | 24.89 | &nbsp;&nbsp;24.27 | 0.51 | 0.40 | 0.84 | &nbsp;&nbsp;&nbsp;297 | 17 |
| 12-31-2020 | 21.39 | 0.22 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;2.41 | (0.33) | (2.13) |  | (2.46) | 21.34 | &nbsp;&nbsp;13.27 | 0.51 | 0.41 | 1.15 | &nbsp;&nbsp;&nbsp;242 | 14 |
| 12-31-2019 | 18.82 | 0.27 | &nbsp;&nbsp;4.37 | &nbsp;&nbsp;4.64 | (0.25) | (1.82) |  | (2.07) | 21.39 | &nbsp;&nbsp;25.72 | 0.51 | 0.40 | 1.28 | &nbsp;&nbsp;&nbsp;228 | 15 |
| 12-31-2018 | 23.00 | 0.28 | (2.60) | (2.32) | (0.27) | (1.59) |  | (1.86) | 18.82 | (11.45) | 0.51 | 0.40 | 1.23 | &nbsp;&nbsp;&nbsp;174 | 15 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 11.97 | 0.11 | (0.69) | (0.58) | (0.10) | (1.34) |  | (1.44) | &nbsp;&nbsp;9.95 | &nbsp;&nbsp;(4.31) | 0.98 | 0.93 | 0.94 | &nbsp;&nbsp;&nbsp;222 | 49 |
| 12-31-2021 | 10.18 | 0.06 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.48 | (0.12) | (0.57) |  | (0.69) | 11.97 | &nbsp;&nbsp;24.34 | 1.04 | 0.99 | 0.48 | &nbsp;&nbsp;&nbsp;241 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.68 | 0.14 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;0.87 | (0.15) | (0.22) |  | (0.37) | 10.18 | &nbsp;&nbsp;&nbsp;9.60 | 1.05 | 1.00 | 1.55 | &nbsp;&nbsp;&nbsp;210 | 36 |
| 12-31-2019 | &nbsp;&nbsp;9.47 | 0.15 | &nbsp;&nbsp;1.54 | &nbsp;&nbsp;1.69 | (0.11) | (1.37) |  | (1.48) | &nbsp;&nbsp;9.68 | &nbsp;&nbsp;19.54 | 1.05 | 1.00 | 1.50 | &nbsp;&nbsp;&nbsp;239 | 33 |
| 12-31-2018 | 11.60 | 0.09 | (1.20) | (1.11) | (0.09) | (0.93) |  | (1.02) | &nbsp;&nbsp;9.47 | (10.84) | 1.05 | 0.99 | 0.80 | &nbsp;&nbsp;&nbsp;241 | 35 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.98 | 0.08 | (0.69) | (0.61) | (0.07) | (1.34) |  | (1.41) | &nbsp;&nbsp;9.96 | &nbsp;&nbsp;(4.52) | 1.18 | 1.13 | 0.74 | &nbsp;&nbsp;&nbsp;&nbsp;51 | 49 |
| 12-31-2021 | 10.19 | 0.03 | &nbsp;&nbsp;2.42 | &nbsp;&nbsp;2.45 | (0.09) | (0.57) |  | (0.66) | 11.98 | &nbsp;&nbsp;24.10 | 1.24 | 1.19 | 0.28 | &nbsp;&nbsp;&nbsp;&nbsp;56 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.69 | 0.12 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;0.86 | (0.14) | (0.22) |  | (0.36) | 10.19 | &nbsp;&nbsp;&nbsp;9.38 | 1.25 | 1.20 | 1.36 | &nbsp;&nbsp;&nbsp;&nbsp;47 | 36 |
| 12-31-2019 | &nbsp;&nbsp;9.49 | 0.13 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.66 | (0.09) | (1.37) |  | (1.46) | &nbsp;&nbsp;9.69 | &nbsp;&nbsp;19.15 | 1.25 | 1.20 | 1.30 | &nbsp;&nbsp;&nbsp;&nbsp;50 | 33 |
| 12-31-2018 | 11.61 | 0.07 | (1.19) | (1.12) | (0.07) | (0.93) |  | (1.00) | &nbsp;&nbsp;9.49 | (10.93) | 1.25 | 1.19 | 0.60 | &nbsp;&nbsp;&nbsp;&nbsp;48 | 35 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 11.87 | 0.11 | (0.69) | (0.58) | (0.10) | (1.34) |  | (1.44) | &nbsp;&nbsp;9.85 | &nbsp;&nbsp;(4.30) | 0.93 | 0.88 | 0.98 | &nbsp;&nbsp;&nbsp;296 | 49 |
| 12-31-2021 | 10.11 | 0.06 | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.45 | (0.12) | (0.57) |  | (0.69) | 11.87 | &nbsp;&nbsp;24.26 | 0.99 | 0.94 | 0.53 | &nbsp;&nbsp;&nbsp;366 | 26 |
| 12-31-2020 | &nbsp;&nbsp;9.61 | 0.14 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;0.88 | (0.16) | (0.22) |  | (0.38) | 10.11 | &nbsp;&nbsp;&nbsp;9.72 | 1.00 | 0.95 | 1.59 | &nbsp;&nbsp;&nbsp;345 | 36 |
| 12-31-2019 | &nbsp;&nbsp;9.42 | 0.15 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.68 | (0.12) | (1.37) |  | (1.49) | &nbsp;&nbsp;9.61 | &nbsp;&nbsp;19.49 | 1.00 | 0.95 | 1.56 | &nbsp;&nbsp;&nbsp;381 | 33 |
| 12-31-2018 | 11.53 | 0.10 | (1.18) | (1.08) | (0.10) | (0.93) |  | (1.03) | &nbsp;&nbsp;9.42 | (10.68) | 1.00 | 0.94 | 0.86 | &nbsp;&nbsp;&nbsp;359 | 35 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 115 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 27.47 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;(8.23) | &nbsp;&nbsp;(7.88) | (0.25) | &nbsp;&nbsp;(1.90) |  | &nbsp;&nbsp;(2.15) | 17.44 | (28.51) | 0.81 | 0.80 | &nbsp;&nbsp;1.60 | &nbsp;&nbsp;51 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.97 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;8.54 | &nbsp;&nbsp;&nbsp;8.85 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.35) | 27.47 | &nbsp;&nbsp;46.79 | 0.80 | 0.79 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;79 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.55 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;(1.97) | &nbsp;&nbsp;(1.57) | (0.43) | &nbsp;&nbsp;(2.58) |  | &nbsp;&nbsp;(3.01) | 18.97 | &nbsp;&nbsp;(5.64) | 0.82 | 0.82 | &nbsp;&nbsp;1.96 | &nbsp;&nbsp;61 | 180 |
| 12-31-2019 | 18.72 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;5.07 | &nbsp;&nbsp;&nbsp;5.49 | (0.48) | &nbsp;&nbsp;(0.18) |  | &nbsp;&nbsp;(0.66) | 23.55 | &nbsp;&nbsp;29.40 | 0.81 | 0.81 | &nbsp;&nbsp;1.90 | &nbsp;&nbsp;73 | 129 |
| 12-31-2018 | 19.71 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;(1.09) | &nbsp;&nbsp;(0.66) | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.33) | 18.72 | &nbsp;&nbsp;(3.46) | 0.81 | 0.81 | &nbsp;&nbsp;2.21 | &nbsp;&nbsp;64 | 164 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 27.44 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;(8.22) | &nbsp;&nbsp;(7.91) | (0.20) | &nbsp;&nbsp;(1.90) |  | &nbsp;&nbsp;(2.10) | 17.43 | (28.64) | 1.01 | 1.00 | &nbsp;&nbsp;1.40 | &nbsp;&nbsp;28 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.96 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;8.52 | &nbsp;&nbsp;&nbsp;8.78 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.30) | 27.44 | &nbsp;&nbsp;46.46 | 1.00 | 0.99 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;44 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.53 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;(1.96) | &nbsp;&nbsp;(1.60) | (0.39) | &nbsp;&nbsp;(2.58) |  | &nbsp;&nbsp;(2.97) | 18.96 | &nbsp;&nbsp;(5.80) | 1.02 | 1.02 | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;32 | 180 |
| 12-31-2019 | 18.72 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;5.05 | &nbsp;&nbsp;&nbsp;5.43 | (0.44) | &nbsp;&nbsp;(0.18) |  | &nbsp;&nbsp;(0.62) | 23.53 | &nbsp;&nbsp;29.08 | 1.01 | 1.01 | &nbsp;&nbsp;1.70 | &nbsp;&nbsp;40 | 129 |
| 12-31-2018 | 19.74 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;(1.08) | &nbsp;&nbsp;(0.70) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.32) | 18.72 | &nbsp;&nbsp;(3.64) | 1.01 | 1.01 | &nbsp;&nbsp;2.00 | &nbsp;&nbsp;35 | 164 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 27.28 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;(8.18) | &nbsp;&nbsp;(7.82) | (0.26) | &nbsp;&nbsp;(1.90) |  | &nbsp;&nbsp;(2.16) | 17.30 | (28.45) | 0.76 | 0.75 | &nbsp;&nbsp;1.66 | 208 | &nbsp;&nbsp;93 |
| 12-31-2021 | 18.84 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;8.48 | &nbsp;&nbsp;&nbsp;8.80 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.36) | 27.28 | &nbsp;&nbsp;46.80 | 0.75 | 0.74 | &nbsp;&nbsp;1.39 | 309 | &nbsp;&nbsp;63 |
| 12-31-2020 | 23.41 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;(1.96) | &nbsp;&nbsp;(1.55) | (0.44) | &nbsp;&nbsp;(2.58) |  | &nbsp;&nbsp;(3.02) | 18.84 | &nbsp;&nbsp;(5.58) | 0.77 | 0.77 | &nbsp;&nbsp;2.01 | 221 | 180 |
| 12-31-2019 | 18.61 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;5.04 | &nbsp;&nbsp;&nbsp;5.47 | (0.49) | &nbsp;&nbsp;(0.18) |  | &nbsp;&nbsp;(0.67) | 23.41 | &nbsp;&nbsp;29.47 | 0.76 | 0.76 | &nbsp;&nbsp;1.96 | 257 | 129 |
| 12-31-2018 | 19.59 | &nbsp;&nbsp;0.43 | &nbsp;&nbsp;(1.08) | &nbsp;&nbsp;(0.65) | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— |  | &nbsp;&nbsp;(0.33) | 18.61 | &nbsp;&nbsp;(3.43) | 0.76 | 0.76 | &nbsp;&nbsp;2.26 | 204 | 164 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 36.59 | (0.15) | (13.09) | (13.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | 11.65 | (35.67) | 1.09 | 1.04 | (0.66) | 473 | 116 |
| 12-31-2021 | 41.87 | (0.25) | &nbsp;&nbsp;&nbsp;4.10 | &nbsp;&nbsp;&nbsp;3.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 36.59 | &nbsp;&nbsp;&nbsp;8.53 | 1.11 | 1.06 | (0.58) | 834 | &nbsp;&nbsp;87 |
| 12-31-2020 | 29.43 | (0.06)<sup>3</sup> | &nbsp;&nbsp;16.39 | &nbsp;&nbsp;16.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 41.87 | &nbsp;&nbsp;57.46 | 1.11 | 1.07 | (0.16)<sup>3</sup> | 938 | 114 |
| 12-31-2019 | 25.80 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;9.31 | &nbsp;&nbsp;&nbsp;9.32 | (0.03) | &nbsp;&nbsp;(5.66) |  | &nbsp;&nbsp;(5.69) | 29.43 | &nbsp;&nbsp;38.06 | 1.13 | 1.08 | &nbsp;&nbsp;0.04 | 662 | &nbsp;&nbsp;87 |
| 12-31-2018 | 29.97 | (0.11) | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(4.74) |  | &nbsp;&nbsp;(4.74) | 25.80 | &nbsp;&nbsp;(0.61) | 1.12 | 1.08 | (0.35) | 594 | 108 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 33.48 | (0.17) | (11.99) | (12.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | &nbsp;&nbsp;9.62 | (35.76) | 1.29 | 1.24 | (0.86) | &nbsp;&nbsp;43 | 116 |
| 12-31-2021 | 39.08 | (0.31) | &nbsp;&nbsp;&nbsp;3.84 | &nbsp;&nbsp;&nbsp;3.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 33.48 | &nbsp;&nbsp;&nbsp;8.31 | 1.31 | 1.26 | (0.78) | &nbsp;&nbsp;79 | &nbsp;&nbsp;87 |
| 12-31-2020 | 27.71 | (0.11)<sup>3</sup> | &nbsp;&nbsp;15.37 | &nbsp;&nbsp;15.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 39.08 | &nbsp;&nbsp;57.15 | 1.31 | 1.27 | (0.35)<sup>3</sup> | &nbsp;&nbsp;84 | 114 |
| 12-31-2019 | 24.58 | (0.05) | &nbsp;&nbsp;&nbsp;8.84 | &nbsp;&nbsp;&nbsp;8.79 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(5.66) |  | &nbsp;&nbsp;(5.66) | 27.71 | &nbsp;&nbsp;37.74 | 1.33 | 1.28 | (0.17) | &nbsp;&nbsp;59 | &nbsp;&nbsp;87 |
| 12-31-2018 | 28.79 | (0.17) | &nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(4.74) |  | &nbsp;&nbsp;(4.74) | 24.58 | &nbsp;&nbsp;(0.78) | 1.32 | 1.28 | (0.55) | &nbsp;&nbsp;49 | 108 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 37.35 | (0.14) | (13.36) | (13.50) | &nbsp;&nbsp;&nbsp;&nbsp;— | (11.70) |  | (11.70) | 12.15 | (35.64) | 1.04 | 0.99 | (0.60) | 105 | 116 |
| 12-31-2021 | 42.55 | (0.23) | &nbsp;&nbsp;&nbsp;4.16 | &nbsp;&nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(9.13) |  | &nbsp;&nbsp;(9.13) | 37.35 | &nbsp;&nbsp;&nbsp;8.58 | 1.06 | 1.01 | (0.53) | 158 | &nbsp;&nbsp;87 |
| 12-31-2020 | 29.84 | (0.05)<sup>3</sup> | &nbsp;&nbsp;16.65 | &nbsp;&nbsp;16.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(3.89) |  | &nbsp;&nbsp;(3.89) | 42.55 | &nbsp;&nbsp;57.58 | 1.06 | 1.02 | (0.14)<sup>3</sup> | 145 | 114 |
| 12-31-2019 | 26.10 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;&nbsp;9.45 | (0.05) | &nbsp;&nbsp;(5.66) |  | &nbsp;&nbsp;(5.71) | 29.84 | &nbsp;&nbsp;38.09 | 1.08 | 1.03 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;89 | &nbsp;&nbsp;87 |
| 12-31-2018 | 30.26 | (0.10) | &nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(4.74) |  | &nbsp;&nbsp;(4.74) | 26.10 | &nbsp;&nbsp;(0.57) | 1.07 | 1.03 | (0.31) | &nbsp;&nbsp;64 | 108 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 116 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 17.26 | 0.12 | (3.65) | (3.53) | (0.15) | (2.01) |  | (2.16) | 11.57 | (20.65) | 0.58 | 0.53 | 0.88 | 341 | 13 |
| 12-31-2021 | 16.31 | 0.12 | &nbsp;&nbsp;2.27 | &nbsp;&nbsp;2.39 | (0.10) | (1.34) |  | (1.44) | 17.26 | &nbsp;&nbsp;14.49 | 0.57 | 0.51 | 0.67 | 460 | 20 |
| 12-31-2020 | 14.94 | 0.10 | &nbsp;&nbsp;2.50 | &nbsp;&nbsp;2.60 | (0.20) | (1.03) |  | (1.23) | 16.31 | &nbsp;&nbsp;19.29 | 0.59 | 0.53 | 0.74 | 427 | 16 |
| 12-31-2019 | 13.36 | 0.16 | &nbsp;&nbsp;3.01 | &nbsp;&nbsp;3.17 | (0.15) | (1.44) |  | (1.59) | 14.94 | &nbsp;&nbsp;25.04 | 0.58 | 0.53 | 1.11 | 404 | 14 |
| 12-31-2018 | 16.09 | 0.17 | (1.78) | (1.61) | (0.15) | (0.97) |  | (1.12) | 13.36 | (11.42) | 0.58 | 0.52 | 1.04 | 365 | 24 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 17.13 | 0.09 | (3.62) | (3.53) | (0.12) | (2.01) |  | (2.13) | 11.47 | (20.81) | 0.78 | 0.73 | 0.67 | &nbsp;&nbsp;26 | 13 |
| 12-31-2021 | 16.20 | 0.08 | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;2.34 | (0.07) | (1.34) |  | (1.41) | 17.13 | &nbsp;&nbsp;14.25 | 0.77 | 0.71 | 0.46 | &nbsp;&nbsp;37 | 20 |
| 12-31-2020 | 14.85 | 0.07 | &nbsp;&nbsp;2.48 | &nbsp;&nbsp;2.55 | (0.17) | (1.03) |  | (1.20) | 16.20 | &nbsp;&nbsp;19.05 | 0.79 | 0.73 | 0.54 | &nbsp;&nbsp;36 | 16 |
| 12-31-2019 | 13.29 | 0.13 | &nbsp;&nbsp;2.99 | &nbsp;&nbsp;3.12 | (0.12) | (1.44) |  | (1.56) | 14.85 | &nbsp;&nbsp;24.78 | 0.78 | 0.73 | 0.90 | &nbsp;&nbsp;35 | 14 |
| 12-31-2018 | 16.00 | 0.13 | (1.75) | (1.62) | (0.12) | (0.97) |  | (1.09) | 13.29 | (11.55) | 0.78 | 0.72 | 0.82 | &nbsp;&nbsp;32 | 24 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 17.29 | 0.13 | (3.66) | (3.53) | (0.16) | (2.01) |  | (2.17) | 11.59 | (20.63) | 0.53 | 0.48 | 0.92 | 125 | 13 |
| 12-31-2021 | 16.33 | 0.13 | &nbsp;&nbsp;2.28 | &nbsp;&nbsp;2.41 | (0.11) | (1.34) |  | (1.45) | 17.29 | &nbsp;&nbsp;14.59 | 0.52 | 0.46 | 0.73 | 169 | 20 |
| 12-31-2020 | 14.96 | 0.11 | &nbsp;&nbsp;2.49 | &nbsp;&nbsp;2.60 | (0.20) | (1.03) |  | (1.23) | 16.33 | &nbsp;&nbsp;19.32 | 0.54 | 0.48 | 0.78 | 144 | 16 |
| 12-31-2019 | 13.38 | 0.18 | &nbsp;&nbsp;3.00 | &nbsp;&nbsp;3.18 | (0.16) | (1.44) |  | (1.60) | 14.96 | &nbsp;&nbsp;25.07 | 0.53 | 0.48 | 1.19 | 158 | 14 |
| 12-31-2018 | 16.10 | 0.18 | (1.77) | (1.59) | (0.16) | (0.97) |  | (1.13) | 13.38 | (11.30) | 0.53 | 0.47 | 1.09 | 124 | 24 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 33.56 | 0.11 | (3.55) | (3.44) | (0.16) | (4.25) |  | (4.41) | 25.71 | (10.07) | 1.15 | 0.89 | 0.38 | &nbsp;&nbsp;78 | 27 |
| 12-31-2021 | 26.24 | 0.19 | &nbsp;&nbsp;7.96 | &nbsp;&nbsp;8.15 | (0.15) | (0.68) |  | (0.83) | 33.56 | &nbsp;&nbsp;31.10 | 1.14 | 0.91 | 0.61 | &nbsp;&nbsp;95 | 28 |
| 12-31-2020 | 25.52 | 0.13 | &nbsp;&nbsp;2.07 | &nbsp;&nbsp;2.20 | (0.16) | (1.32) |  | (1.48) | 26.24 | &nbsp;&nbsp;&nbsp;9.88 | 1.17 | 1.00 | 0.58 | &nbsp;&nbsp;81 | 28 |
| 12-31-2019 | 22.37 | 0.14 | &nbsp;&nbsp;5.29 | &nbsp;&nbsp;5.43 | (0.11) | (2.17) |  | (2.28) | 25.52 | &nbsp;&nbsp;25.54 | 1.16 | 0.98 | 0.58 | &nbsp;&nbsp;83 | 16 |
| 12-31-2018 | 32.01 | 0.11 | (3.10) | (2.99) | (0.14) | (6.51) |  | (6.65) | 22.37 | (13.84) | 1.14 | 0.96 | 0.36 | &nbsp;&nbsp;74 | 23 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 32.73 | 0.05 | (3.47) | (3.42) | (0.09) | (4.25) |  | (4.34) | 24.97 | (10.24) | 1.35 | 1.09 | 0.18 | &nbsp;&nbsp;28 | 27 |
| 12-31-2021 | 25.61 | 0.12 | &nbsp;&nbsp;7.78 | &nbsp;&nbsp;7.90 | (0.10) | (0.68) |  | (0.78) | 32.73 | &nbsp;&nbsp;30.85 | 1.34 | 1.11 | 0.39 | &nbsp;&nbsp;35 | 28 |
| 12-31-2020 | 24.96 | 0.08 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.09 | (0.12) | (1.32) |  | (1.44) | 25.61 | &nbsp;&nbsp;&nbsp;9.65 | 1.37 | 1.20 | 0.38 | &nbsp;&nbsp;30 | 28 |
| 12-31-2019 | 21.91 | 0.09 | &nbsp;&nbsp;5.18 | &nbsp;&nbsp;5.27 | (0.05) | (2.17) |  | (2.22) | 24.96 | &nbsp;&nbsp;25.26 | 1.36 | 1.18 | 0.38 | &nbsp;&nbsp;31 | 16 |
| 12-31-2018 | 31.48 | 0.05 | (3.03) | (2.98) | (0.08) | (6.51) |  | (6.59) | 21.91 | (14.02) | 1.34 | 1.16 | 0.16 | &nbsp;&nbsp;29 | 23 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 33.30 | 0.14 | (3.55) | (3.41) | (0.17) | (4.25) |  | (4.42) | 25.47 | (10.03) | 1.10 | 0.84 | 0.48 | &nbsp;&nbsp;46 | 27 |
| 12-31-2021 | 26.04 | 0.21 | &nbsp;&nbsp;7.90 | &nbsp;&nbsp;8.11 | (0.17) | (0.68) |  | (0.85) | 33.30 | &nbsp;&nbsp;31.16 | 1.09 | 0.86 | 0.67 | &nbsp;&nbsp;38 | 28 |
| 12-31-2020 | 25.34 | 0.14 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.20 | (0.18) | (1.32) |  | (1.50) | 26.04 | &nbsp;&nbsp;&nbsp;9.92 | 1.12 | 0.95 | 0.63 | &nbsp;&nbsp;30 | 28 |
| 12-31-2019 | 22.23 | 0.15 | &nbsp;&nbsp;5.25 | &nbsp;&nbsp;5.40 | (0.12) | (2.17) |  | (2.29) | 25.34 | &nbsp;&nbsp;25.60 | 1.11 | 0.93 | 0.62 | &nbsp;&nbsp;26 | 16 |
| 12-31-2018 | 31.85 | 0.13 | (3.09) | (2.96) | (0.15) | (6.51) |  | (6.66) | 22.23 | (13.81) | 1.09 | 0.91 | 0.42 | &nbsp;&nbsp;23 | 23 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 117 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 10.26 | (0.03) | (3.11) | (3.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;5.03 | (31.12) | 1.13 | 1.12 | (0.43) | &nbsp;&nbsp;70 | &nbsp;&nbsp;86 |
| 12-31-2021 | 11.92 | (0.11) | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | 10.26 | &nbsp;&nbsp;&nbsp;1.20 | 1.11 | 1.10 | (0.88) | 114 | 107 |
| 12-31-2020 | &nbsp;&nbsp;8.88 | (0.06) | &nbsp;&nbsp;4.37 | &nbsp;&nbsp;4.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 11.92 | &nbsp;&nbsp;51.54 | 1.12 | 1.11 | (0.65) | 137 | 113 |
| 12-31-2019 | &nbsp;&nbsp;9.08 | (0.05) | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.36) |  | (3.36) | &nbsp;&nbsp;8.88 | &nbsp;&nbsp;38.02 | 1.13 | 1.12 | (0.51) | &nbsp;&nbsp;98 | &nbsp;&nbsp;81 |
| 12-31-2018 | 10.13 | (0.06) | (0.33) | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.66) |  | (0.66) | &nbsp;&nbsp;9.08 | &nbsp;&nbsp;(5.19) | 1.11 | 1.10 | (0.59) | &nbsp;&nbsp;81 | &nbsp;&nbsp;88 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | &nbsp;&nbsp;9.19 | (0.04) | (2.78) | (2.82) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;4.28 | (31.25) | 1.33 | 1.32 | (0.63) | &nbsp;&nbsp;21 | &nbsp;&nbsp;86 |
| 12-31-2021 | 10.88 | (0.12) | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | &nbsp;&nbsp;9.19 | &nbsp;&nbsp;&nbsp;1.06 | 1.31 | 1.30 | (1.08) | &nbsp;&nbsp;35 | 107 |
| 12-31-2020 | &nbsp;&nbsp;8.21 | (0.07) | &nbsp;&nbsp;4.01 | &nbsp;&nbsp;3.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 10.88 | &nbsp;&nbsp;51.23 | 1.32 | 1.31 | (0.85) | &nbsp;&nbsp;42 | 113 |
| 12-31-2019 | &nbsp;&nbsp;8.61 | (0.07) | &nbsp;&nbsp;3.03 | &nbsp;&nbsp;2.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.36) |  | (3.36) | &nbsp;&nbsp;8.21 | &nbsp;&nbsp;37.74 | 1.33 | 1.32 | (0.71) | &nbsp;&nbsp;35 | &nbsp;&nbsp;81 |
| 12-31-2018 | &nbsp;&nbsp;9.66 | (0.08) | (0.31) | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.66) |  | (0.66) | &nbsp;&nbsp;8.61 | &nbsp;&nbsp;(5.44) | 1.31 | 1.30 | (0.78) | &nbsp;&nbsp;28 | &nbsp;&nbsp;88 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 10.52 | (0.03) | (3.19) | (3.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.09) |  | (2.09) | &nbsp;&nbsp;5.21 | (31.13) | 1.08 | 1.07 | (0.38) | 162 | &nbsp;&nbsp;86 |
| 12-31-2021 | 12.17 | (0.10) | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.84) |  | (1.84) | 10.52 | &nbsp;&nbsp;&nbsp;1.27 | 1.06 | 1.05 | (0.83) | 258 | 107 |
| 12-31-2020 | &nbsp;&nbsp;9.04 | (0.06) | &nbsp;&nbsp;4.46 | &nbsp;&nbsp;4.40 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.27) |  | (1.27) | 12.17 | &nbsp;&nbsp;51.62 | 1.07 | 1.06 | (0.60) | 261 | 113 |
| 12-31-2019 | &nbsp;&nbsp;9.19 | (0.05) | &nbsp;&nbsp;3.26 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.36) |  | (3.36) | &nbsp;&nbsp;9.04 | &nbsp;&nbsp;38.10 | 1.08 | 1.07 | (0.46) | 186 | &nbsp;&nbsp;81 |
| 12-31-2018 | 10.25 | (0.06) | (0.34) | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.66) |  | (0.66) | &nbsp;&nbsp;9.19 | &nbsp;&nbsp;(5.22) | 1.06 | 1.05 | (0.57) | 147 | &nbsp;&nbsp;88 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 18.30 | &nbsp;&nbsp;0.15 | (2.04) | (1.89) | (0.15) | (2.77) |  | (2.92) | 13.49 | (10.24) | 1.04 | 1.04 | &nbsp;&nbsp;0.93 | 140 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.70 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;3.75 | &nbsp;&nbsp;3.84 | (0.09) | (0.15) |  | (0.24) | 18.30 | &nbsp;&nbsp;26.19 | 1.03 | 1.03 | &nbsp;&nbsp;0.53 | 182 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.19 | &nbsp;&nbsp;0.08 | (1.73) | (1.65) | (0.15) | (1.69) |  | (1.84) | 14.70 | &nbsp;&nbsp;(6.70) | 1.07 | 1.06 | &nbsp;&nbsp;0.57 | 167 | &nbsp;&nbsp;34 |
| 12-31-2019 | 15.60 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;3.82 | &nbsp;&nbsp;3.95 | (0.10) | (1.26) |  | (1.36) | 18.19 | &nbsp;&nbsp;26.52 | 1.09 | 1.08 | &nbsp;&nbsp;0.75 | 218 | &nbsp;&nbsp;19 |
| 12-31-2018 | 20.25 | &nbsp;&nbsp;0.14 | (2.16) | (2.02) | (0.13) | (2.50) |  | (2.63) | 15.60 | (12.50) | 1.11 | 1.10 | &nbsp;&nbsp;0.69 | 211 | &nbsp;&nbsp;13 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 18.15 | &nbsp;&nbsp;0.12 | (2.04) | (1.92) | (0.11) | (2.77) |  | (2.88) | 13.35 | (10.49) | 1.24 | 1.24 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;21 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.58 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;3.72 | &nbsp;&nbsp;3.78 | (0.06) | (0.15) |  | (0.21) | 18.15 | &nbsp;&nbsp;25.97 | 1.23 | 1.23 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;27 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.07 | &nbsp;&nbsp;0.05 | (1.73) | (1.68) | (0.12) | (1.69) |  | (1.81) | 14.58 | &nbsp;&nbsp;(6.95) | 1.27 | 1.26 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;23 | &nbsp;&nbsp;34 |
| 12-31-2019 | 15.50 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;3.80 | &nbsp;&nbsp;3.90 | (0.07) | (1.26) |  | (1.33) | 18.07 | &nbsp;&nbsp;26.33 | 1.29 | 1.28 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;28 | &nbsp;&nbsp;19 |
| 12-31-2018 | 20.13 | &nbsp;&nbsp;0.10 | (2.14) | (2.04) | (0.09) | (2.50) |  | (2.59) | 15.50 | (12.66) | 1.31 | 1.30 | &nbsp;&nbsp;0.49 | &nbsp;&nbsp;25 | &nbsp;&nbsp;13 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 18.22 | &nbsp;&nbsp;0.16 | (2.04) | (1.88) | (0.16) | (2.77) |  | (2.93) | 13.41 | (10.25) | 0.99 | 0.99 | &nbsp;&nbsp;0.98 | 271 | &nbsp;&nbsp;42 |
| 12-31-2021 | 14.63 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;3.74 | &nbsp;&nbsp;3.84 | (0.10) | (0.15) |  | (0.25) | 18.22 | &nbsp;&nbsp;26.30 | 0.98 | 0.98 | &nbsp;&nbsp;0.59 | 344 | &nbsp;&nbsp;32 |
| 12-31-2020 | 18.12 | &nbsp;&nbsp;0.09 | (1.73) | (1.64) | (0.16) | (1.69) |  | (1.85) | 14.63 | &nbsp;&nbsp;(6.68) | 1.02 | 1.01 | &nbsp;&nbsp;0.64 | 298 | &nbsp;&nbsp;34 |
| 12-31-2019 | 15.54 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;3.81 | &nbsp;&nbsp;3.95 | (0.11) | (1.26) |  | (1.37) | 18.12 | &nbsp;&nbsp;26.62 | 1.04 | 1.03 | &nbsp;&nbsp;0.81 | 271 | &nbsp;&nbsp;19 |
| 12-31-2018 | 20.18 | &nbsp;&nbsp;0.15 | (2.15) | (2.00) | (0.14) | (2.50) |  | (2.64) | 15.54 | (12.45) | 1.06 | 1.05 | &nbsp;&nbsp;0.75 | 249 | &nbsp;&nbsp;13 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 118 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period<br> ($) | Net<br> investment<br> income<br> (loss)<br> ($)<sup>1</sup> | Net<br> realized<br> and<br> unrealized<br> gain<br> (loss)<br> on investments<br> ($) | Total<br> from<br> investment<br> operations<br> ($) | From net<br> investment<br> income<br> ($) | From net<br> realized<br> gain<br> ($) | From tax<br> return<br> of capital<br> ($) | Total<br> distributions<br> ($) | Net asset<br> value, end<br> of period<br> ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss)<br> (%) | Net<br> assets,<br> end of<br> period (in<br> millions) | Portfolio<br> turnover<br> (%) |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 12.59 | &nbsp;&nbsp;0.03 | (2.37) | (2.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.79 | (18.73) | 1.20 | 1.13 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;43 | 26 |
| 12-31-2021 | 10.55 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.39 | (0.04) | (0.31) |  | (0.35) | 12.59 | &nbsp;&nbsp;22.70 | 1.18 | 1.11 | (0.02) | &nbsp;&nbsp;&nbsp;&nbsp;58 | 23 |
| 12-31-2020 | 10.36 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;0.83 | (0.03) | (0.61) |  | (0.64) | 10.55 | &nbsp;&nbsp;&nbsp;9.24 | 1.19 | 1.13 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;54 | 30 |
| 12-31-2019 | 16.62 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;3.25 | &nbsp;&nbsp;3.29 | (0.17) | (9.38) |  | (9.55) | 10.36 | &nbsp;&nbsp;25.53 | 1.19 | 1.13 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;56 | 30 |
| 12-31-2018 | 20.86 | &nbsp;&nbsp;0.15 | (2.46) | (2.31) | (0.08) | (1.85) |  | (1.93) | 16.62 | (12.94) | 1.15 | 1.09 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;50 | 23 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.98 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | (2.25) | (2.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.27 | (18.95) | 1.40 | 1.33 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;32 | 26 |
| 12-31-2021 | 10.05 | (0.03) | &nbsp;&nbsp;2.29 | &nbsp;&nbsp;2.26 | (0.02) | (0.31) |  | (0.33) | 11.98 | &nbsp;&nbsp;22.51 | 1.38 | 1.31 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;44 | 23 |
| 12-31-2020 | &nbsp;&nbsp;9.90 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;0.77 | (0.01) | (0.61) |  | (0.62) | 10.05 | &nbsp;&nbsp;&nbsp;9.07 | 1.39 | 1.33 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;43 | 30 |
| 12-31-2019 | 16.25 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;3.16 | (0.13) | (9.38) |  | (9.51) | &nbsp;&nbsp;9.90 | &nbsp;&nbsp;25.22 | 1.39 | 1.33 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;45 | 30 |
| 12-31-2018 | 20.43 | &nbsp;&nbsp;0.11 | (2.40) | (2.29) | (0.04) | (1.85) |  | (1.89) | 16.25 | (13.09) | 1.35 | 1.29 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;41 | 23 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 12.51 | &nbsp;&nbsp;0.03 | (2.35) | (2.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.46) |  | (1.46) | &nbsp;&nbsp;8.73 | (18.70) | 1.15 | 1.08 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;55 | 26 |
| 12-31-2021 | 10.48 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.39 | (0.05) | (0.31) |  | (0.36) | 12.51 | &nbsp;&nbsp;22.81 | 1.13 | 1.06 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;68 | 23 |
| 12-31-2020 | 10.30 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.82 | (0.03) | (0.61) |  | (0.64) | 10.48 | &nbsp;&nbsp;&nbsp;9.25 | 1.14 | 1.08 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;&nbsp;&nbsp;58 | 30 |
| 12-31-2019 | 16.57 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;3.25 | &nbsp;&nbsp;3.29 | (0.18) | (9.38) |  | (9.56) | 10.30 | &nbsp;&nbsp;25.65 | 1.14 | 1.08 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;46 | 30 |
| 12-31-2018 | 20.81 | &nbsp;&nbsp;0.08 | (2.38) | (2.30) | (0.09) | (1.85) |  | (1.94) | 16.57 | (12.93) | 1.10 | 1.04 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;36 | 23 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Less than $0.005 per share.** |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 22.63 | &nbsp;&nbsp;0.30 | (4.26) | (3.96) | (0.30) | (3.17) |  | (3.47) | 15.20 | (16.98) | 0.67 | 0.53 | &nbsp;&nbsp;1.58 | 6905 | &nbsp;&nbsp;4 |
| 12-31-2021 | 20.98 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;4.08 | &nbsp;&nbsp;4.37 | (0.42) | (2.30) |  | (2.72) | 22.63 | &nbsp;&nbsp;21.15 | 0.66 | 0.53 | &nbsp;&nbsp;1.27 | 9291 | &nbsp;&nbsp;6 |
| 12-31-2020 | 20.30 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;2.34 | &nbsp;&nbsp;2.65 | (0.40) | (1.57) |  | (1.97) | 20.98 | &nbsp;&nbsp;14.34 | 0.67 | 0.53 | &nbsp;&nbsp;1.61 | 9383 | &nbsp;&nbsp;7 |
| 12-31-2019 | 17.13 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;4.13 | &nbsp;&nbsp;4.51 | (0.36) | (0.98) |  | (1.34) | 20.30 | &nbsp;&nbsp;27.15 | 0.66 | 0.53 | &nbsp;&nbsp;1.95 | 9774 | &nbsp;&nbsp;4 |
| 12-31-2018 | 19.88 | &nbsp;&nbsp;0.36 | (1.92) | (1.56) | (0.33) | (0.86) |  | (1.19) | 17.13 | &nbsp;&nbsp;(8.52) | 0.66 | 0.53 | &nbsp;&nbsp;1.83 | 9327 | &nbsp;&nbsp;5 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 30.88 | &nbsp;&nbsp;0.27 | (6.54) | (6.27) | (0.28) | (3.51) |  | (3.79) | 20.82 | (20.41) | 0.57 | 0.49 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.26 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;6.12 | &nbsp;&nbsp;6.38 | (0.33) | (1.43) |  | (1.76) | 30.88 | &nbsp;&nbsp;24.45 | 0.56 | 0.48 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;8 |
| 12-31-2020 | 24.04 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;4.49 | &nbsp;&nbsp;4.83 | (0.44) | (2.17) |  | (2.61) | 26.26 | &nbsp;&nbsp;21.45 | 0.58 | 0.50 | &nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;2 |
| 12-31-2019 | 20.22 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;5.42 | &nbsp;&nbsp;5.80 | (0.37) | (1.61) |  | (1.98) | 24.04 | &nbsp;&nbsp;29.63 | 0.58 | 0.50 | &nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;3 |
| 12-31-2018 | 22.39 | &nbsp;&nbsp;0.39 | (1.55) | (1.16) | (0.27) | (0.74) |  | (1.01) | 20.22 | &nbsp;&nbsp;(5.70) | 0.58 | 0.50 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;2 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 30.71 | &nbsp;&nbsp;0.22 | (6.50) | (6.28) | (0.22) | (3.51) |  | (3.73) | 20.70 | (20.54) | 0.77 | 0.69 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.13 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;6.08 | &nbsp;&nbsp;6.28 | (0.27) | (1.43) |  | (1.70) | 30.71 | &nbsp;&nbsp;24.19 | 0.76 | 0.68 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;8 |
| 12-31-2020 | 23.94 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;4.46 | &nbsp;&nbsp;4.75 | (0.39) | (2.17) |  | (2.56) | 26.13 | &nbsp;&nbsp;21.19 | 0.78 | 0.70 | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;2 |
| 12-31-2019 | 20.14 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;5.39 | &nbsp;&nbsp;5.73 | (0.32) | (1.61) |  | (1.93) | 23.94 | &nbsp;&nbsp;29.40 | 0.78 | 0.70 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;3 |
| 12-31-2018 | 22.31 | &nbsp;&nbsp;0.35 | (1.56) | (1.21) | (0.22) | (0.74) |  | (0.96) | 20.14 | &nbsp;&nbsp;(5.92) | 0.78 | 0.70 | &nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;2 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 30.87 | &nbsp;&nbsp;0.28 | (6.53) | (6.25) | (0.29) | (3.51) |  | (3.80) | 20.82 | (20.34) | 0.52 | 0.44 | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;1 |
| 12-31-2021 | 26.25 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;6.12 | &nbsp;&nbsp;6.39 | (0.34) | (1.43) |  | (1.77) | 30.87 | &nbsp;&nbsp;24.51 | 0.51 | 0.43 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;8 |
| 12-31-2020 | 24.03 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;4.49 | &nbsp;&nbsp;4.84 | (0.45) | (2.17) |  | (2.62) | 26.25 | &nbsp;&nbsp;21.50 | 0.53 | 0.45 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;2 |
| 12-31-2019 | 20.21 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;5.41 | &nbsp;&nbsp;5.81 | (0.38) | (1.61) |  | (1.99) | 24.03 | &nbsp;&nbsp;29.70 | 0.53 | 0.45 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;3 |
| 12-31-2018 | 22.38 | &nbsp;&nbsp;0.40 | (1.55) | (1.15) | (0.28) | (0.74) |  | (1.02) | 20.21 | &nbsp;&nbsp;(5.66) | 0.53 | 0.45 | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;2 |
| **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 119 |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements

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1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, thirty-five of which are presented in this report (the portfolios).

American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust (collectively, the JHVIT Feeder Funds), Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio and Lifestyle Moderate Portfolio (collectively, the Lifestyle Portfolios) operate as "funds of funds," investing in shares of mutual funds (underlying funds). The accounting policies of the underlying funds in which the Lifestyle Portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements. These are available on the Securities and Exchange Commission (SEC) website at www.sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The American Funds Insurance Series' accounting policies are outlined in their financial statements, available at the SEC website at www.sec.gov. Capital Research and Management Company serves as investment advisor for the American Funds Insurance Series' master funds. The underlying funds are not covered by this report.

The portfolios may offer multiple classes of shares: Series I, Series II, Series III and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation (MFC) except in the case of the Emerging Markets Value Trust, International Equity Index Trust, International Small Company Trust, Financial Industries Trust and Fundamental All Cap Core Trust. Series NAV of Emerging Markets Value Trust and International Equity Index Trust and Series II of Emerging Markets Value Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor's Valuation Policies and Procedures.**

In order to value the securities, the portfolios use the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

**Significant accounting policies, continued speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.**

The following is a summary of the values by input classification of the portfolios' investments as of December 31, 2022, by major security category or type:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6504084347** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6504084347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**221283201** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221283201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$6725367548** | **$6725367548** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6813572)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6813572) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** | **American Asset Allocation Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1131172659** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1131172659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1131172659** | **$1131172659** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** | **American Global Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$177890014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$177890014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$177890014** | &nbsp;&nbsp;&nbsp;&nbsp;**$177890014** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** | **American Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$744915959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$744915959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$744915959** | &nbsp;&nbsp;&nbsp;&nbsp;**$744915959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** | **American Growth-Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$811188074** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$811188074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$811188074** | &nbsp;&nbsp;&nbsp;&nbsp;**$811188074** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** | **American International Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$338734905** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$338734905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$338734905** | &nbsp;&nbsp;&nbsp;&nbsp;**$338734905** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **—** |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$183350803** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$177194270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6156533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**207334155** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207334155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Significant accounting policies, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Blue Chip Growth Trust (continued)** | **Blue Chip Growth Trust (continued)** | **Blue Chip Growth Trust (continued)** | **Blue Chip Growth Trust (continued)** | **Blue Chip Growth Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$73478407** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$73478407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**238149108** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238149108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16255899** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16255899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**678544802** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674518880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4025922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18267463** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18267463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1816100** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816100 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17382358** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17382358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1434579095** | **$1422580540** | &nbsp;&nbsp;&nbsp;**$11998555** | **—** |
| **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$44909376** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44909376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**100339649** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87743294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12596355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15520881** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15520881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9338126** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9338126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14738485** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14738485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**63100356** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63100356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10039553** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10039553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**144413213** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139178126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5235087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6919348** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6919348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2724967** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724967 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5192922** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5192922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$417236876** | &nbsp;&nbsp;&nbsp;&nbsp;**$396680467** | &nbsp;&nbsp;&nbsp;**$20556409** | **—** |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$260118417** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$255742998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4375419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1596226** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39467398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39467398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28384138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28384138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**330050** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**52879760** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52879760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1079795** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37085081** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34304081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$420940865** | &nbsp;&nbsp;&nbsp;&nbsp;**$291643305** | **$129297560** | **—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(625087)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(625087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1069820** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1069820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3140921** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1105242** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4098141** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4098141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1257656** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18632906** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18632906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4874168** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4874168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Disciplined Value International Trust (continued)** | **Disciplined Value International Trust (continued)** | **Disciplined Value International Trust (continued)** | **Disciplined Value International Trust (continued)** | **Disciplined Value International Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1743937** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1743937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8980816** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8980816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22060441** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22060441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19019269** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19019269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1691528** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4086403** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4086403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7117641** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7117641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34575751** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34575751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10041115** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10041115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2427421** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5680284** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5680284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8167866** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8167866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**555132** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4865187** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4865187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26427729** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26427729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51525379** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10757441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40767938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6788047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6788047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5938441** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5938441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$255871241** | **$50301379** | **$205569862** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$46864** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32031** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5011360** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$139940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4871420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45437** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1328436** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48827094** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3630284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45071025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$125785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**155229** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cyprus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Czech Republic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**247748** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**739270** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8893422** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8780622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**380417** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34420552** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34310986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3908707** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3814209** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3814209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4928990** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panama | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**534** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1643129** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1576429** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qatar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1669922** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**79066** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7472986** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7472986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**141493** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7273340** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6647103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24508221** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22286819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32303653** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32297288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4752524** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1944477** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1944200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ukraine | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1457** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2313658** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61936** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Emerging Markets Value Trust (continued)** | **Emerging Markets Value Trust (continued)** | **Emerging Markets Value Trust (continued)** | **Emerging Markets Value Trust (continued)** | **Emerging Markets Value Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3622579** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3622579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6821** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1375** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$202175016** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11772668** | **$190010107** | **$392241** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(14362)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(14362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$69619714** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69619714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**59303482** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59303482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**96223905** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96223905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**118314622** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84419891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33894731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**288825020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288825020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**237673158** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228790057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8883101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**148678293** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148678293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**94599965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93586514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**58551748** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58551748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54241943** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54241943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**103250464** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103250464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9279804** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9279804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5336775** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11781773** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11781773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**70494201** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70494201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1426174867** | **$1373103780** | &nbsp;&nbsp;&nbsp;**$53071087** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| **Investments in securities:** | **Investments in securities:** | **Investments in securities:** |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financials** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$63849890** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62490035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1359855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18961356** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18961356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2073228** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified financial services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3854647** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3854647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38674582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38674582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thrifts and mortgage finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**686264** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real estate** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity real estate investment trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3556919** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1300650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Convertible bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**630494** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5681050** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5681050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$139269080** | &nbsp;&nbsp;&nbsp;&nbsp;**$135978081** | &nbsp;&nbsp;&nbsp;&nbsp;**$3290999** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$171247887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$171247887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**396363088** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345735088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$50628000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60475710** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60475710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**101981659** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101981659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**352770226** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352770226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**101155244** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101155244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**87521980** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87521980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**460982561** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460982561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23147493** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23147493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**42007152** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42007152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45794358** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45794358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1843447358** | **$1792819358** | &nbsp;&nbsp;&nbsp;**$50628000** | **—** |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$54019191** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54019191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**50710478** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43259571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7450907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**69168271** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52044353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17123918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**52620878** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52620878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**139158508** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139158508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**117105540** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117105540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**105575836** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97593205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7982631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90572285** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83668317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6903968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13495863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13495863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17389893** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17389893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6104753** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$715921496** | &nbsp;&nbsp;&nbsp;&nbsp;**$676460072** | &nbsp;&nbsp;&nbsp;**$39461424** | **—** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** | **Global Equity Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$34254264** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34254264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12590308** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7003216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23678599** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23678599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15108330** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15108330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3403325** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3403325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11098344** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5657949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11475771** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9792697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**154855825** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154855825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7070663** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070663 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6383391** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6383391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$279918820** | &nbsp;&nbsp;&nbsp;&nbsp;**$175583455** | **$104335365** | **—** |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** | **Health Sciences Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$495960** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$495960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**133406** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**271386525** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263205483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8155837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**133270** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1750089** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2118** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3646302** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3646302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$277547670** | **$267616539** | &nbsp;&nbsp;**$9905926** | **$25205** |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$38718760** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38718760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**981669** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4417195** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8350497** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$118490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8232007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60081548** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59716441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**865375** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60778948** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6285734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54447270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**109793** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Czech Republic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**346899** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15034884** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15034884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Egypt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**173780** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6315343** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6315343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**57333721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57333721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37467934** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37467934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**747178** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19597982** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19495919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**389127** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31125522** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27574229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4206602** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4198064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5270474** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5002202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3531428** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10038320** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10038320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**109874730** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109874730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jordan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**128719** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1347162** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**301781** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3529529** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5302783** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23171867** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23171867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1150937** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3870891** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**390273** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1549606** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1481591** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portugal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**918936** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186378** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8102958** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8102958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7878000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7059626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7758668** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7758668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** | **International Equity Index Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$22586291** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$75341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22510950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12455404** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12396160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15480848** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15480848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53024877** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53024877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28843926** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28843926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4144457** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4144457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkey | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1499082** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**73086048** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73086048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**695660** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6560752** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6560752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3345** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**765** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9271100** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9271100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$770480352** | **$88008999** | **$682203072** | **$268281** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(435384)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(435384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6251398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$111393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6100961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1495272** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1457787** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**187084** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cambodia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46125** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11217266** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11177288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20581** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2428619** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2128534** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4639560** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4637467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gabon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Georgia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**136891** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5407389** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5407389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gibraltar | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16740** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12956** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guernsey, Channel Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2298879** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**580391** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Isle of Man | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**76627** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1406884** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3427009** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24185148** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24185148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jersey, Channel Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110992** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liechtenstein | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**481434** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14711** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10903** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malta | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6245** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mauritius | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10563** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1780811** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**485102** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** | **International Small Company Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$903659** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$903659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14051** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portugal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**337399** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1203436** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**136991** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2326403** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2690814** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7164246** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7164246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12813** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90811** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11130206** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11097009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**855602** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**308063** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**546** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$97562044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11793258** | **$85655948** | **$112838** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3079)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3079) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$898962798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$898962798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$898962798** | &nbsp;&nbsp;&nbsp;&nbsp;**$898962798** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$165336139** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$165336139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21217** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$165357356** | &nbsp;&nbsp;&nbsp;&nbsp;**$165357356** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;**$4872641383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4872641383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$4872641383** | **$4872641383** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$274670121** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$274670121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15630** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$274685751** | &nbsp;&nbsp;&nbsp;&nbsp;**$274685751** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$545522853** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$545522853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Mid Cap Growth Trust (continued)** | **Mid Cap Growth Trust (continued)** | **Mid Cap Growth Trust (continued)** | **Mid Cap Growth Trust (continued)** | **Mid Cap Growth Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4977785** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4977785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27039582** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15839582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$577540220** | &nbsp;&nbsp;&nbsp;&nbsp;**$561362435** | **$11200000** | **$4977785** |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1102296630** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1102296630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37907021** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37907021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1140203651** | **$1140203651** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(436697)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(436697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$28232190** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$28232190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49799129** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42530032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7269097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**44889373** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39379219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**50226895** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50226895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**88492370** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88492370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**61352642** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59297582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78081075** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68343299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9737776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35478741** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35478741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**43084544** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37784087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35418579** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35418579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27951425** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27951425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36609386** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36609386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$579616349** | &nbsp;&nbsp;&nbsp;&nbsp;**$549743805** | **$29872544** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$279215767** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$279215767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5967655** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5967655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$285183422** | &nbsp;&nbsp;&nbsp;&nbsp;**$285183422** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$82069587** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$80451200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1472711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$145676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**173380790** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99606166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73774624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2113271** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**333244644** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320800462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12444182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2017969** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Science & Technology Trust (continued)** | **Science & Technology Trust (continued)** | **Science & Technology Trust (continued)** | **Science & Technology Trust (continued)** | **Science & Technology Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$31352108** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31352108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$624178369** | **$536341176** | **$87691517** | **$145676** |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$12169413** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12169413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49170510** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49155679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16989576** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16989576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32160630** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32160630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81183035** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81183035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**79969255** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79815427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$153828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**73725446** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73725446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60117448** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60117448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20329972** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20329972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30382231** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30382231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16579013** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16579013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24674** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24839413** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24839413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$497640616** | **$497471957** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$14831** | **$153828** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(656282)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(656282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2874631** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2874631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21173750** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21173750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5551264** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11358246** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11358246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32725074** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32725074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18192426** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18169616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27623821** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27623821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18088084** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18088084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9853008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9853008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2354876** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**605015** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39514** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2909721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$153349430** | **$153326620** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$22810** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$248613670** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$248613670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1880697** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Small Cap Stock Trust (continued)** | **Small Cap Stock Trust (continued)** | **Small Cap Stock Trust (continued)** | **Small Cap Stock Trust (continued)** | **Small Cap Stock Trust (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6298427** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6298427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$256792794** | &nbsp;&nbsp;&nbsp;&nbsp;**$256792794** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$13259379** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13259379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38924372** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38924372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17209927** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9647201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7562726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10824419** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10824419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**107330201** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107330201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22269550** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22269550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**79242549** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79242549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45974691** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45974691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**37817620** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37817620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33719488** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33719488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11583047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11583047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20088199** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$438243442** | &nbsp;&nbsp;&nbsp;&nbsp;**$416680716** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$21562726** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$124358466** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$124358466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16266** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5776502** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5776502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$130151234** | &nbsp;&nbsp;&nbsp;&nbsp;**$130151234** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$384445737** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$289325851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$95119886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**697164337** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464161739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233002598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**521311460** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297403746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223907714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**344862312** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236564563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108297749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**967903061** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563122443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404780618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**981851694** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689736345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292011576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$103773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**796750270** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471170698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325579572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1215074081** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048268969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166805112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**317033561** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147300522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169733039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**218249031** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161137463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57111568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**223708810** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148028223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75680587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10651371** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10651371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**211896** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**234391847** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234391847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$6913609468** | **$4750824305** | **$2162681390** | **$103773** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5751773)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5751773) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Strategic Equity Allocation Trust (continued)** | **Strategic Equity Allocation Trust (continued)** | **Strategic Equity Allocation Trust (continued)** | **Strategic Equity Allocation Trust (continued)** | **Strategic Equity Allocation Trust (continued)** |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Common stocks** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$46199787** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46199526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**66071973** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66068958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46784993** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46784993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36928145** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36928145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81260956** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81253860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**98216429** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98198815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62663241** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62663241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**156454296** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156454296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16675143** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16674948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20862301** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20859496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19457723** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19457723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Preferred securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8908** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11715** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7110** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6037** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;**Short-term investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25260797** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25260797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$676869554** | **$676831458** | **$17453** | **$20643** |
| **Derivatives:** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(214695)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(214695) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |

---

**Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolios. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.**

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay claims resulting from close-out of the transactions.

**Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.** 

The portfolios' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower and/or term loan agents. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual**

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

**Significant accounting policies, continued status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a tax return of capital and/or capital gain, if any, are recorded as a reduction of cost of investments and/or as a realized gain, if amounts are estimable. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.**

**Real estate investment trusts. The portfolios may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the portfolios will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.**

**Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.** 

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at December 31, 2022. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the portfolios, and accordingly, is not reflected in the portfolios' net assets.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value of securities on loan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash collateral received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Non-cash collateral** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$4551724 | &nbsp;&nbsp;&nbsp;&nbsp;$4664967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2710334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;53981828 | &nbsp;&nbsp;&nbsp;&nbsp;56398258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;15487143 | &nbsp;&nbsp;&nbsp;&nbsp;15837700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4123143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;12671473 | &nbsp;&nbsp;&nbsp;&nbsp;13040225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8622387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402947 | &nbsp;&nbsp;&nbsp;&nbsp;$3497553 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6297450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5920852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;43114930 | &nbsp;&nbsp;&nbsp;&nbsp;45229595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.** 

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

There may be unexpected restrictions on investments or on exposures to investments in companies located in certain foreign countries, such as China. For example, a government may restrict investment in companies or industries considered important to national interests, or intervene in the financial markets, such as by imposing trading restrictions, or banning or curtailing short selling. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a fund may incur losses.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

**Significant accounting policies, continued Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People's Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect the fund's performance.**

**Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.**

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds, excluding International Equity Index Trust, have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.** 

International Equity Index Trust and other affiliated funds have entered into an unsecured $50 million line of credit agreement with BNP Paribas. Subject to the needs of other affiliated funds, International Equity Index Trust can borrow up to the $50 million, subject to asset coverage and other limitations as specified in the agreement.

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations.

Commitment fees for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$25137 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6779 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3659 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5780 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4207 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4564 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4447 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3926 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3778 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7526 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9333 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3999 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3909 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21975 |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;$3426 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3662 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19249 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4017 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4880 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6749 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5194 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3928 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4531 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25868 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and the portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2022, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2022:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;$10079125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36370480 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$883650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108128604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5513652 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82762281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10905131 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51632770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12223650 |

---

As of December 31, 2022, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on December 31, 2022, including short-term investments, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$3121099222 | &nbsp;&nbsp;&nbsp;&nbsp;$3792791326 | &nbsp;&nbsp;&nbsp;&nbsp;$(195336572) | &nbsp;&nbsp;&nbsp;&nbsp;$3597454754 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112577096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18595563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18595563 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175039760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850254 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782393043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37477084) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37477084) |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761909796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49278278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49278278 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429091510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90356605) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90356605) |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293153854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283574742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142149501) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141425241 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427775250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48258987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58797361) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10538374) |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437889339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11529854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29103415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17573561) |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252045572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19263910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15438241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825669 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229064681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24794167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51698194) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26904027) |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178430324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291196132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43451589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247744543 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133714101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12140483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6585504) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5554979 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442671783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478352265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77576690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400775575 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590167711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173723180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47969395) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125753785 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274558249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18029316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12668745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5360571 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218438063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88341729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29232122) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59109607 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671221058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202992053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104168143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98823910 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116904734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13325975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32671744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19345769) |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059653552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160690754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160690754) |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203477460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38120107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38120104) |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5657387088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(784745705) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(784745705) |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330280943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55595193) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55595192) |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661850765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41766798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(126077343) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84310545) |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005047621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241397107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106677774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134719333 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551667170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77706332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49757153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27949179 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301329999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9038412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25184989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16146577) |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781069650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22517872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179409153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156891281) |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461704763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135752195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100472624) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35279571 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139593188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31684022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17927780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13756242 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263867803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23413078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30488087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7075009) |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433601484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49034210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44392252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4641958 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116488251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27055986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13393003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13662983 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326853968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993532440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(412528713) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581003727 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352582121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371909001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47836263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324072738 |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends and capital gain distributions, if any, annually.**

The tax character of distributions for the year ended December 31, 2022 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$115238671 | &nbsp;&nbsp;&nbsp;&nbsp;$224705882 | &nbsp;&nbsp;&nbsp;&nbsp;$339944553 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27660889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144214550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171875439 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25869941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26859631 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11944335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204206221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216150556 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19543242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47098747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66641989 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7865665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16728156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24593821 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442303757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451016813 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$135449572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$135449572 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;$19205821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40713110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59918931 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9507136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9507136 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002367 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42281551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139162525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181444076 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3942210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25013880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28956090 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17068616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178817001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195885617 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26313213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77249659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103562872 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26660462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26660462 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33908255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33908255 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23184230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3905896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27090126 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4254081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6609115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10863196 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22918878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79656797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102575675 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4651964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9229618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13881582 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;115504164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638789212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754293376 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7216190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21923697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29139887 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84270406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159790054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244060460 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38264069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142206964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180471033 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15189535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56897934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72087469 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17400853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15114803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32515656 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;124606168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190490645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315096813 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11626919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66700305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78327224 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4472280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17988303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22460583 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15886141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58933558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74819699 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14174119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62175396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76349515 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16335879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18998920 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;169205215 | &nbsp;&nbsp;&nbsp;&nbsp;1156067938 | &nbsp;&nbsp;&nbsp;&nbsp;1325273153 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10580954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95905906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106486860 |

---

The tax character of distributions for the year ended December 31, 2021 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$119844666 | &nbsp;&nbsp;&nbsp;&nbsp;$298085783 | &nbsp;&nbsp;&nbsp;&nbsp;$417930449 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21686459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76404234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98090693 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14245472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14245472 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4078735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70095777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74174512 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8182603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52928746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61111349 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9005158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9874676 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320699337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320699337 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122272648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123470129 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16034206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38485023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54519229 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8222264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8222264 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987589 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32636034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33588553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66224587 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2401295 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28273559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171915915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200189474 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7629410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87937828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95567238 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29006074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33282029 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25675044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9995836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35670880 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5280107 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28510772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48372847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76883619 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6152924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5061192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11214116 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135293656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409006767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544300423 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9052709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13478746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22531455 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127094169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136543237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263637406 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19464828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69852266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89317094 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6339739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30529971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36869710 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5546340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5546340 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100151454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122744863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222896317 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7158405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44691084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51849489 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3024676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1085392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4110068 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31682030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31101959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62783989 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4493571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7584646 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4288975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4755296 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;186760045 | &nbsp;&nbsp;&nbsp;&nbsp;838482514 | &nbsp;&nbsp;&nbsp;&nbsp;1025242559 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10435593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41035519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51471112 |

---

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of December 31, 2022, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Ordinary Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Long Term<br> Capital Gains** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$26880580 | &nbsp;&nbsp;&nbsp;&nbsp;$106541530 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154893001 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25532078 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132975010 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90865561 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50917604 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7690411 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45379376 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3336150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12138385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120394128 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4757163 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261054614 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3086261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53417643 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9804988 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813532 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9348909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210090 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82102503 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7037574 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5686324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614404304 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21466267 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4645672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57882103 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6049812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78806509 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5942952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533560 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100021 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12741099 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3782654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36571196 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8795406 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43137188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397612166 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2360138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41851069 |

---

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to net operating losses, foreign currency transactions, wash sale loss deferrals, investments in passive foreign investment companies, partnerships, derivative transactions, and amortization and accretion on debt securities.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

**Derivative instruments, continued Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.**

As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolio is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a portfolio, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by a portfolio periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolio. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a portfolio records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The following table details how the portfolios used futures contracts during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$190.2 million to $222.5 million |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;To equitize cash balances. | &nbsp;&nbsp;&nbsp;&nbsp;$1.3 million to $1.7 million |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$13.3 million to $32.0 million |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;To equitize cash balances. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $1.3 million |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$21.8 million to $55.9 million |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$19.2 million to $30.2 million |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$224.3 million to $314.2 million |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in certain securities markets and gain exposure to certain securities markets. | &nbsp;&nbsp;&nbsp;&nbsp;$13.3 million to $31.2 million |

---

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Portfolio of investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, a portfolio realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are "marked-to-market" to reflect the current market value. If the written option expires, a portfolio realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).

The following table details how the portfolios used written options contracts during the year ended December 31, 2022. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Derivative instruments, continued

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;To generate potential income from options premiums. | &nbsp;&nbsp;&nbsp;&nbsp;$123,000 to $8.9 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at December 31, 2022 by risk category:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(6813572) |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(625087) |
| **Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(14362) |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(435384) |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3079) |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(436697) |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(656282) |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(5751773) |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(214695) |

---

<br> <sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty.

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Total** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(37183540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(37183540) |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$2603235 | &nbsp;&nbsp;&nbsp;&nbsp;$2603235 |
| **Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(383621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(383621) |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(5429621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(5429621) |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(38433) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(38433) |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(3444765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(3444765) |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(4207819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(4207819) |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(4379306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(4379306) |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(2244914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(2244914) |

---

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Total** |
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(11302208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(11302208) |
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$6312412 | &nbsp;&nbsp;&nbsp;&nbsp;$6312412 |
| **Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4442 |
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(371341) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(371341) |
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(13651) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(13651) |
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;$(1371424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1371424) |
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(994778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(994778) |
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;$(10844146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$(10844146) |
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(831983) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(831983) |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. Under an investment management agreement, the portfolios, with the exception of the JHVIT Feeder Funds, pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted below. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:**

• *500 Index Trust* — a) 0.470% of the first $500 million of average net assets; and b) 0.460% of the excess over $500 million of average net assets.

• *Blue Chip Growth Trust* — a) 0.825% of the first $500 million of aggregate net assets; b) 0.800% of the next $500 million of aggregate net assets; c) 0.750% of the next $2 billion of aggregate net assets; and d) 0.725% of the excess over $3 billion of aggregate net assets. When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.750% on the first $1 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio, JHF II Blue Chip Growth Fund and Manulife North American Equity Fund Series.

• *Capital Appreciation Trust* — a) 0.800% of the first $500 million of aggregate net assets; b) 0.700% of the next $500 million of aggregate net assets; and c) 0.670% of the excess over $1 billion of aggregate net assets.

• *Capital Appreciation Value Trust* — If aggregate net assets are less than $500 million, then the following fee schedule shall apply: a) 0.950% of the first $250 million of aggregate net assets; and b) 0.850% of the excess over $250 million of aggregate net assets. If aggregate net assets equal or exceed $500 million but are less than $2 billion, then the following fee schedule shall apply: a) 0.850% of the first $1 billion of aggregate net assets; and b) 0.800% of the excess over $1 billion of aggregate net assets. If aggregate net assets equal or exceed $2 billion but are less than $3 billion, then the following fee schedule shall apply: a) 0.850% of the first $500 million of aggregate net assets; and b) 0.800% of the excess over $500 million of aggregate net assets. If aggregate net assets equals or exceed $3 billion, then the management fee to be paid is 0.800% of aggregate net assets.

• *Disciplined Value International Trust* — If aggregate net assets are less than $300 million, then the management fee to be paid is 0.825% of aggregate net assets. If aggregate net assets equal or exceed $300 million but are less than $2.5 billion, then the management fee to be paid is 0.775% of aggregate net assets. If aggregate net assets exceed $2.5 billion, then the following fee schedule shall apply: a) 0.775% of the first $2.5 billion of aggregate net assets; and b) 0.750% of the next $500 million; and c) 0.725% of the excess over $3 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, Manulife Boston Partners International Equity Fund, Disciplined Value International Fund, a series of John Hancock Investment Trust, and effective April 1, 2022, MLI Pension Plus Growth Fund and Manulife Balanced Fund.

• *Emerging Markets Value Trust* — a) 0.870% of the first $100 million of aggregate net assets; and b) 0.820% of the excess over $100 million of aggregate net assets. Prior to March 1, 2022, the annual rates were a) 0.900% of the first $100 million of aggregate net assets; and b) 0.850% of the excess over $100 million of aggregate net assets.

• *Equity Income Trust* — a) 0.800% of the first $100 million of aggregate net assets; b) 0.775% of the next $100 million of aggregate net assets; c) 0.750% of the next $300 million of aggregate net assets; d) 0.725% of the next $500 million of aggregate net assets; e) 0.725% of the next $500 million of aggregate net assets; f) 0.700% of the next $500 million of aggregate net assets; g) 0.695% of the next $1 billion of aggregate net assets; h) 0.690% of the next $1 billion of aggregate net assets; i) 0.680% of the next $1.5 billion of aggregate net assets; j) 0.675% of the next $2 billion of aggregate net assets; and k) 0.670% of the excess over $7.5 billion of aggregate net assets. When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.775% on the first $200 million of aggregate net assets. When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $500 million of aggregate net assets and 0.725% on aggregate net assets over $500 million. When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.725% on the first $1 billion of aggregate net assets. When aggregate net assets exceed $1.5 billion on any day, the annual rate of advisory fee for that day is 0.700% on the first $1.5 billion of aggregate net assets. When aggregate net assets exceed $2 billion on any day, the annual rate of advisory fee for that day is 0.695% on the first $2 billion of aggregate net assets. When aggregate net assets exceed $3 billion on any day, the annual rate of advisory fee for that day is 0.690% on the first $3 billion of aggregate net assets. When aggregate net assets exceed $4 billion on any day, the annual rate of advisory fee for that day is 0.680% on the first $4 billion of aggregate net assets. When aggregate net assets exceed $5.5 billion on any day, the annual rate of advisory fee for that day is 0.675% on the first $5.5 billion of aggregate net assets. When aggregate net assets exceed $7.5 billion on any day, the annual rate of advisory fee for that day is 0.670% on the first $7.5 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II Equity Income Fund and Manulife US Large Cap Value Equity Fund (Canada).

• *Financial Industries Trust* — a) 0.800% of the first $250 million of aggregate net assets; b) 0.775% of aggregate net assets between $250 million and $500 million; c) 0.750% of aggregate net assets between $500 million and $1 billion; and d) 0.725% of the excess over $1 billion of aggregate net assets.

• *Fundamental All Cap Core Trust* — a) 0.675% of the first $2.5 billion of aggregate net assets; and b) 0.650% of the excess over $2.5 billion of aggregate net assets.

• *Fundamental Large Cap Value Trust* — a) 0.700% of the first $500 million of average net assets; b) 0.650% of average net assets between $500 million and $1 billion; and c) 0.600% of the excess over $1 billion of average net assets.

• *Global Equity Trust* — a) 0.800% of the first $1 billion of aggregate net assets; and b) 0.790% of the excess over $1 billion of aggregate net assets.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Fees and transactions with affiliates, continued
• *Health Sciences Trust* — a) 1.050% of the first $500 million of aggregate net assets; b) 1.000% of the next $250 million; c) 0.950% of the excess over $750 million of aggregate net assets; d) 0.950% of the next $250 million; e) 0.900% of the next $500 million; and f) 0.900% of the excess over $1.5 billion of aggregate net assets. When aggregate net assets exceed $750 million, the advisory fee is 0.950% on all net assets. When aggregate net assets exceed $1.5 billion, the advisory fee is 0.900% on all net assets. Prior to February 1, 2022, the annual rates were a) 1.050% of the first $500 million of aggregate net assets; b) 1.000% of the next $250 million; and c) 0.950% of the excess over $750 million of aggregate net assets. When aggregate net assets exceeded $750 million, the advisory fee was 0.950% on all net assets. Aggregate net assets are the net assets of the portfolio, JHF II Health Sciences Fund, and effective February 1, 2022, Manulife Healthcare Fund Series - (I).

• *International Equity Index Trust* — a) 0.550% of the first $100 million of average net assets; b) 0.530% of the next $150 million of average net assets; c) 0.520% of the next $250 million of average net assets; and d) 0.510% of the excess over $500 million of average net assets.

• *International Small Company Trust* — 0.800% of aggregate net assets. Prior to March 1, 2022, the annual rates were 0.850% of aggregate net assets.

• *Lifestyle Portfolios* — The advisory fee has two components: a) a fee on net assets invested in affiliated funds (Affiliated funds assets) excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust, and b) a fee on net assets not invested in affiliated funds (Other assets). The management fee paid on Affiliated fund assets is: a) 0.050% of the first $7.5 billion of aggregate net assets; and b) 0.040% of the excess over $7.5 billion in aggregate net assets. The advisory fee paid on Other assets is as follows: a) 0.500% of the first $7.5 billion of aggregate net assets; and b) 0.490% of the excess over $7.5 billion in aggregate net assets. Aggregate net assets are the net assets of the Lifestyle Portfolios, JHVIT Managed Volatility Portfolios, JHF II Multimanager Lifestyle Portfolios and JHF II Multi-Index Lifestyle Portfolios.

• *Mid Cap Index Trust, Small Cap Index Trust and Total Stock Market Index Trust* — a) 0.490% of the first $250 million of average net assets; b) 0.480% of average net assets between $250 million and $500 million; and c) 0.460% of the excess over $500 million of average net assets.

• *Mid Cap Growth Trust* — a) 0.875% of the first $200 million of aggregate net assets; b) 0.850% of aggregate net assets between $200 million and $500 million; c) 0.825% of aggregate net assets between $500 million and $3.2 billion; d) 0.800% of aggregate net assets between $3.2 billion and $3.7 billion; e) 0.775% of aggregate net assets between $3.7 billion and $4.2 billion; and f) 0.755% of the excess over $4.2 billion of aggregate net assets.

• *Mid Value Trust* — a) 0.950% of the first $1 billion of aggregate net assets; and b) 0.875% of the excess over $1 billion of aggregate net assets. When aggregate net assets exceed $1 billion on any day, the management fee for that day is 0.875% of all assets of the portfolio. Prior to February 1, 2022, the annual rates were a) 1.050% of the first $20 million of aggregate net assets; and b) 0.950% of the excess over $20 million of aggregate net assets. When aggregate net assets exceeded $50 million on any day, the management fee for that day was 0.950% of all assets of the portfolio.

• *Real Estate Securities Trust* — a) 0.700% of the first $1.5 billion of aggregate net assets; and b) 0.680% of the excess over $1.5 billion of aggregate net assets.

• *Science & Technology Trust* — a) 1.050% of the first $50 million of aggregate net assets; b) 1.025% of the next $50 million of aggregate net assets; c) 1.000% when assets reach $100 million retro to the first dollar; d) 0.975% when assets reach $200 million retro to the first dollar; and e) 0.950% when assets reach $500 million retro to the first dollar. When aggregate net assets exceed $500 million on any day, the management fee for that day is a) 0.950% of aggregate net assets up to $1 billion; and b) 0.925% of aggregate net assets in excess of $1 billion. Prior to June 1, 2022, the annual rates were a) 1.050% of the first $500 million of average net assets; and b) 1.000% of the excess over $500 million of average net assets. Aggregate net assets are the net assets of the portfolio, JHF II Science and Technology Fund, and effective June 1, 2022, (MMTF) Manulife Technology Fund.

• *Small Cap Opportunities Trust* — a) 1.000% of the first $500 million of aggregate net assets; b) 0.950% of aggregate net assets between $500 million and $1 billion; c) 0.900% of aggregate net assets between $1 billion and $2 billion; and d) 0.850% of the excess over $2 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio and the JHF II New Opportunities Fund.

• *Small Cap Stock Trust* — a) 1.050% of the first $50 million of aggregate net assets; and b) 1.000% of the excess over $50 million of aggregate net assets.

• *Small Cap Value Trust* — a) 0.950% of the first $250 million of aggregate net assets; b) 0.940% of the next $500 million of aggregate net assets; c) 0.930% of the next $500 million of aggregate net assets; and d) 0.920% of the excess over $1.25 billion of aggregate net assets.

• *Small Company Value Trus*t — a) 1.050% of the first $500 million of average net assets; and b) 1.000% of the excess over $500 million of average net assets.

• *Strategic Equity Allocation Trust* — a) 0.675% of the first $2.5 billion of aggregate net assets; b) 0.650% of aggregate net assets between $2.5 billion and $7.5 billion; c) 0.625% of aggregate net assets between $7.5 billion and $10 billion; d) 0.600% of aggregate net assets between $10 billion and $15 billion; e) 0.595% of aggregate net assets between $15 billion and $25 billion; and f) 0.590% of the excess over $25 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II U.S. Sector Rotation Fund, and JHF II International Strategic Equity Allocation Fund. Prior to April 8, 2022, the aggregate net assets were the net assets of the portfolio, JHF II Strategic Equity Allocation Fund, JHF II U.S. Sector Rotation Fund, and JHF II International Strategic Equity Allocation Fund.

The organizations described below act as the subadvisors to the Trust and certain of its portfolios pursuant to Subadvisory Agreements with the Advisor. Portfolio management is allocated among the following subadvisors:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Boston Partners Global Investors, Inc. |
| &nbsp;&nbsp;&nbsp;Emerging Markets Value Trust<br> International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;Dimensional Fund Advisors LP |
| &nbsp;&nbsp;&nbsp;Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;Dimensional Fund Advisors LP and GW&K Investment Management, LLC |
| &nbsp;&nbsp;&nbsp;Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Jennison Associates LLC |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Financial Industries Trust<br> Fundamental All Cap Core Trust<br> Fundamental Large Cap Value Trust<br> Global Equity Trust<br> Lifestyle Balanced Portfolio<br> Lifestyle Conservative Portfolio<br> Lifestyle Growth Portfolio<br> Lifestyle Moderate Portfolio<br> Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (US) LLC<sup>1</sup> |
| &nbsp;&nbsp;&nbsp;500 Index Trust<br> Mid Cap Index Trust<br> Small Cap Index Trust<br> Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (North America) Limited<sup>1</sup> |
| &nbsp;&nbsp;&nbsp;International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;SSGA Funds Management, Inc. |
| &nbsp;&nbsp;&nbsp;Blue Chip Growth Trust<br> Capital Appreciation Value Trust<br> Equity Income Trust<br> Health Sciences Trust<br> Mid Value Trust<br> Science & Technology Trust<sup>2</sup> Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Associates, Inc. |
| &nbsp;&nbsp;&nbsp;Mid Cap Growth Trust<br> Real Estate Securities Trust<br> Small Cap Stock Trust<br> Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Wellington Management Company LLP |

---

<sup>1</sup> An affiliate of the Advisor.

<sup>2</sup> Effective June 23, 2022, T. Rowe Price Associates, Inc. became the sole subadvisor to the portfolio and Allianz Global Investors U.S. LLC no longer serves as subadvisor. Allianz Global Investments U.S. LLC (or one of its affiliates) bore expenses associated with the transition management of the portion of the portfolio they managed, which amounted to approximately $1.3 million and is included in Net realized gain (loss) on unaffiliated investments and foreign currency transactions on the Statements of operations.

The portfolios are not responsible for payment of the subadvisory fees.

**Expense reimbursements. The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the respective portfolios exceed the percentage of average net assets as detailed below. Expenses excluded from this waiver are taxes, portfolio brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios' business, advisory fees, Rule 12b-1 fees, underlying fund expenses and in the case of a feeder fund, the expenses of the master fund, and short dividends. This expense reduction will continue in effect until terminated by the Advisor.**

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense limitation as a<br> percentage of average net assets** |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense limitation as a<br> percentage of average net assets** |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |

---

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain portfolios of the John Hancock group of funds complex, including certain of the portfolios presented in this report (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the year ended December 31, 2022, this waiver amounted to 0.01% of the portfolios' average net assets. This agreement expires on July 31, 2024, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

**Fees and transactions with affiliates, continued The Advisor has contractually agreed to limit operating expenses of 500 Index Trust and International Equity Index Trust at 0.25% and 0.34%, respectively. These limits exclude Rule 12b-1 fees, taxes, short dividends, interest expense, acquired fund fees, litigation and indemnification expenses, portfolio brokerage commissions and other extraordinary expenses not incurred in the ordinary course of the portfolios' business. The Advisor's obligation to provide the expense cap will remain in effect until April 30, 2023, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at the time.**

The Advisor has contractually agreed to reimburse expenses for the Lifestyle Portfolios so that certain other expenses do not exceed 0.04% of average net assets of the Lifestyle Portfolios. This waiver includes all expenses except taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios' business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reimbursement will remain in effect until April 30, 2023, and may terminate at any time thereafter.

The Advisor has contractually agreed to waive its management fee for Small Cap Opportunities Trust so that the amount retained by the Advisor after the payment of subadvisory fees does not exceed 0.45% of the portfolio's average daily net assets. The expense reimbursements will remain in effect until April 30, 2023, unless renewed by mutual agreement of the portfolio and the Advisor based upon a determination that this is appropriate under the circumstances at that time and may be terminated at any time thereafter.

The Advisor has contractually agreed to waive its management fee for Mid Cap Index Trust and Small Cap Index Trust by 0.10% and 0.05% of the portfolios' average net assets, respectively. The expense limitation agreements expire on April 30, 2023, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has voluntarily agreed to reduce its management fee for portfolios that are subadvised by T. Rowe Price Associates, Inc. by the amount that the subadvisory fee is reduced pursuant to the subadvisory agreement with T. Rowe Price. This waiver impacts Blue Chip Growth Trust, Capital Appreciation Value Trust, Equity Income Trust, Health Sciences Trust, Mid Value Trust, Science & Technology Trust and Small Company Value Trust. This waiver may be terminated at any time by the Advisor.

The Advisor has voluntarily agreed to waive its management fee for Science & Technology Trust and Strategic Equity Allocation Trust so that the amount retained by the Advisor after payment of the sub-advisory fee does not exceed 0.45% of the portfolios' average net assets. This voluntary management fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fee for Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, and Lifestyle Moderate Portfolio (after giving effect to asset-based breakpoints) by 0.005% of the portfolios' average daily net assets. This waiver may be terminated at any time by the Advisor upon notice to the Trust. Prior to May 1, 2022, the Advisor had contractually agreed to waive its management fee for Lifestyle Growth Portfolio by 0.005% of the portfolio's average daily net assets.

The Advisor has voluntarily agreed to waive its management fee for each Lifestyle Portfolio so that the aggregate advisory fee retained by the Advisor with respect to both the Lifestyle Portfolio and its underlying investments (after payment of subadvisory fees) does not exceed 0.50% of the Lifestyle Portfolios' first $7.5 billion of average net assets and 0.49% of the Lifestyle Portfolios' average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time.

The Advisor has voluntarily agreed to reduce the advisory fee that would be payable by Fundamental Large Cap Value Trust and Total Stock Market Index Trust (after giving effect to asset-based breakpoints) by 0.003% and 0.07% of the portfolios' average daily net assets, respectively. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the year ended December 31, 2022, the waivers under these agreements amounted to:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$11640209 | &nbsp;&nbsp;&nbsp;&nbsp;$192721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6150044 | &nbsp;&nbsp;&nbsp;&nbsp;$17982974 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60636 | &nbsp;&nbsp;&nbsp;&nbsp;$8467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94759 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15145 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66452 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33583 | &nbsp;&nbsp;&nbsp;&nbsp;13996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70009 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29664 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629045 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40130 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200070 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21183 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17383 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455712 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12799 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167854 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81739 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23397 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156940 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222036 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8559 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50448 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59942 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272366 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45517 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;$11578 | &nbsp;&nbsp;&nbsp;&nbsp;$5491 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49759 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;985755 | &nbsp;&nbsp;&nbsp;&nbsp;64938 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1318689 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;116096 | &nbsp;&nbsp;&nbsp;&nbsp;26634 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301718 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27023 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;306597 | &nbsp;&nbsp;&nbsp;&nbsp;27719 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396502 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;219663 | &nbsp;&nbsp;&nbsp;&nbsp;17179 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316458 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;213608 | &nbsp;&nbsp;&nbsp;&nbsp;77458 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396051 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22831 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36981 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31799 | &nbsp;&nbsp;&nbsp;&nbsp;24259 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95649 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10475557 | &nbsp;&nbsp;&nbsp;&nbsp;10475557 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;393508 | &nbsp;&nbsp;&nbsp;&nbsp;33621 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594589 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended December 31, 2022, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.21% |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.00%\* |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.70% |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.70% |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.78% |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.83% |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.79% |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.80% |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.04% |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.01% |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.04% |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.03% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.83% |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.36% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.83% |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.69% |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.42% |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.74% |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;1.00% |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.93% |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.98% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.49% |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.40% |

---

\* The JHVIT Feeder Funds do not incur investment advisory fees. Investment advisory fees are incurred by the master fund. For more information on these portfolios, see Note 1.

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended December 31, 2022, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares.**

For all portfolios, except the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently, only 0.05% for Series I shares and 0.25% for Series II shares are charged for Rule 12b-1 fees.

For the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.60% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.75% |
| Series III | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Fees and transactions with affiliates, continued Distribution and service fees for the year ended December 31, 2022 were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series lll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;$2351390 | &nbsp;&nbsp;&nbsp;&nbsp;$194909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2546299 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8056701 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257549 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5624282 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3215661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5383059 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516075 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391995 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237798 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634430 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142576 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75393 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415470 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101400 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167434 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602961 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174752 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180422 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202556 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40903 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049120 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414868 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11529460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11634665 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629539 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247536 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606161 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246967 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114508 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412459 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261290 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116396 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103434 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134413 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114353 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359638 |

---

The Distributor voluntarily agreed to waive 0.06%, 0.08%, 0.09%, 0.07% and 0.02% of its Rule 12b-1 fee for Series II of American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust, respectively.

For the year ended December 31, 2022, the waivers under these agreements amounted to:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;$465109 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101630 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502069 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300128 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46606 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.**

**Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, open loans, if any, are presented under the caption Receivable/Payable for interfund lending in the Statements of assets and liabilities. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;$16950000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;$(509) |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12280000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(921) |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;0.945% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221) |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228) |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Fees and transactions with affiliates, continued

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;2.995% | &nbsp;&nbsp;&nbsp;&nbsp;(2271) |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;1.486% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;2.253% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;1.836% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7142857 | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;2.706% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3758 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;1.130% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;13150000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;2.034% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2972 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7550000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;1.191% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;0.725% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;10066667 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;1.711% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;33400000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.665% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;15300000 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;2.559% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8702 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;2.531% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 |
| Science and Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;13428571 | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;2.706% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7065 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;47750000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9050000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;0.905% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683333 | &nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;2.114% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5866667 | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;2.529% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450000 | &nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;1.830% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;0.665% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 |

---

6. Portfolio share transactions

Transactions in portfolios' shares for the years ended December 31, 2022 and 2021 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **500 Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6335369 | &nbsp;&nbsp;&nbsp;&nbsp;$288175769 | &nbsp;&nbsp;&nbsp;&nbsp;5502947 | &nbsp;&nbsp;&nbsp;&nbsp;$265322772 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5396317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220115753 | &nbsp;&nbsp;&nbsp;&nbsp;5296404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265985404 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5621237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(248259576) | &nbsp;&nbsp;&nbsp;&nbsp;(7929092) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(385734234) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**6110449** | &nbsp;&nbsp;&nbsp;&nbsp;**$260031946** | &nbsp;&nbsp;&nbsp;&nbsp;**2870259** | &nbsp;&nbsp;&nbsp;&nbsp;**$145573942** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5874099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10337335 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601443 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(323831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14591323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15314856) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(111906)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5406715)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3705)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(376078)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622536 | &nbsp;&nbsp;&nbsp;&nbsp;$118960994 | &nbsp;&nbsp;&nbsp;&nbsp;1392191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$67293377 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116518291 | &nbsp;&nbsp;&nbsp;&nbsp;2934547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147343602 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(7561725) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335212865) | &nbsp;&nbsp;&nbsp;&nbsp;(4666804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228553692) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2081948)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(99733580)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(340066)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13916713)** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**3916595** | &nbsp;&nbsp;&nbsp;&nbsp;**$154891651** | &nbsp;&nbsp;&nbsp;&nbsp;**2526488** | &nbsp;&nbsp;&nbsp;&nbsp;**$131281151** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Asset Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379395 | &nbsp;&nbsp;&nbsp;&nbsp;$14971015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11895634 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5013334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47761065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25549663 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1556690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17935073) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1504052) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19823790) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**4836039** | &nbsp;&nbsp;&nbsp;&nbsp;**$44797007** | &nbsp;&nbsp;&nbsp;&nbsp;**1352954** | &nbsp;&nbsp;&nbsp;&nbsp;**$17621507** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$53201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$779838 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;11377147 | &nbsp;&nbsp;&nbsp;&nbsp;108390376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4821868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63349495 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(7612114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86060624) | &nbsp;&nbsp;&nbsp;&nbsp;(12367994) | &nbsp;&nbsp;&nbsp;&nbsp;(162530314) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**3770460** | &nbsp;&nbsp;&nbsp;&nbsp;**$22382953** | &nbsp;&nbsp;&nbsp;&nbsp;**(7488063)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(98400981)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Portfolio share transactions, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Asset Allocation Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$333925 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1643170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15723998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9191535 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(910602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10413769) | &nbsp;&nbsp;&nbsp;&nbsp;(1158768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15381195) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**738151** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5373831** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(434960)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5855735)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**9344650** | &nbsp;&nbsp;&nbsp;&nbsp;**$72553791** | &nbsp;&nbsp;&nbsp;&nbsp;**(6570069)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(86635209)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Global Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7724477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7800665 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5954595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2613854 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173971) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2907225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(215136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4620036) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**736526** | &nbsp;&nbsp;&nbsp;&nbsp;**$10771847** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**270398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5794483** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6621576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2768636 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1323419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17068768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9771876 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1355337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21701821) | &nbsp;&nbsp;&nbsp;&nbsp;(1473296) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31507956) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**365568** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1988523** | &nbsp;&nbsp;&nbsp;&nbsp;**(885069)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18967444)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2910890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$218846 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3836268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859742 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(189498) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2968306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4095131) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**273320** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3778852** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(94083)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2016543)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1375414** | &nbsp;&nbsp;&nbsp;&nbsp;**$16539222** | &nbsp;&nbsp;&nbsp;&nbsp;**(708754)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15189504)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18084890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21621389 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3822794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53457256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16926510 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(732521) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15420780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(711003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18167859) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4078517** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$56121366** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**769883** | &nbsp;&nbsp;&nbsp;&nbsp;**$20380040** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37549787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2093259 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;10215811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140676168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49814210 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4131438) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80498833) | &nbsp;&nbsp;&nbsp;&nbsp;(5384426) | &nbsp;&nbsp;&nbsp;&nbsp;(136575810) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8231277** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$97727122** | &nbsp;&nbsp;&nbsp;&nbsp;**(3398905)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(84668341)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9753084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$174518 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22017132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7433792 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(446123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8600372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(682920) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17459937) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1693498** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$23169844** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(394283)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9851627)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**14003292** | &nbsp;&nbsp;&nbsp;&nbsp;**$177018332** | &nbsp;&nbsp;&nbsp;&nbsp;**(3023305)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(74139928)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Growth-Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3717415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6065751 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21408178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18561160 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1415973) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22469886) | &nbsp;&nbsp;&nbsp;&nbsp;(1622304) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28421722) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**329628** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2655707** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(271638)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3794811)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5434602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1219797 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31264636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29802194 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4479235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70225595) | &nbsp;&nbsp;&nbsp;&nbsp;(6376239) | &nbsp;&nbsp;&nbsp;&nbsp;(112197629) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1882734)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33526357)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4664796)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(81175638)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American Growth-Income Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4527298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$424852 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13969175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12747995 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1440112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22547716) | &nbsp;&nbsp;&nbsp;&nbsp;(2190656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38754229) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(147113)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4051243)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1469163)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(25581382)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1700219)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(34921893)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6405597)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(110551831)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **American International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9270595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16707283 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3212329 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1075638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17874500) | &nbsp;&nbsp;&nbsp;&nbsp;(1798778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39427972) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18284)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1144015)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(873990)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(19508360)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13026978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23913485 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1044961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15046975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5781433 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2417105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39791178) | &nbsp;&nbsp;&nbsp;&nbsp;(1952605) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42614139) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(561380)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11717225)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(527609)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12919221)** |
| **Series III shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1923843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2989548 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880914 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3841280) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(202882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4425563) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27405** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$169519** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16523)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(555101)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(552259)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12691721)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1418122)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(32982682)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Blue Chip Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5051274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8873787 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3660072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71261610 | &nbsp;&nbsp;&nbsp;&nbsp;1293348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53285942 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1153971) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32611728) | &nbsp;&nbsp;&nbsp;&nbsp;(1211421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51864872) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2716977** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$43701156** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**286551** | &nbsp;&nbsp;&nbsp;&nbsp;**$10294857** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6656870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3151569 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26219267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20938817 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(759770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20888783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(764560) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31142110) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**954457** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11987354** | &nbsp;&nbsp;&nbsp;&nbsp;**(156094)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7051724)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3628463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$96405796 | &nbsp;&nbsp;&nbsp;&nbsp;1451010 | &nbsp;&nbsp;&nbsp;&nbsp;$60971043 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;18092934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353535936 | &nbsp;&nbsp;&nbsp;&nbsp;5969353 | &nbsp;&nbsp;&nbsp;&nbsp;246474578 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5868706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171479579) | &nbsp;&nbsp;&nbsp;&nbsp;(6802222) | &nbsp;&nbsp;&nbsp;&nbsp;(295595412) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**15852691** | &nbsp;&nbsp;&nbsp;&nbsp;**$278462153** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**618141** | &nbsp;&nbsp;&nbsp;&nbsp;**$11850209** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**19524125** | &nbsp;&nbsp;&nbsp;&nbsp;**$334150663** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**748598** | &nbsp;&nbsp;&nbsp;&nbsp;**$15093342** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital Appreciation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3906446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585740 | &nbsp;&nbsp;&nbsp;&nbsp;$4716947 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;13897745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49059040 | &nbsp;&nbsp;&nbsp;&nbsp;5579895 | &nbsp;&nbsp;&nbsp;&nbsp;42630402 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4971590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25042794) | &nbsp;&nbsp;&nbsp;&nbsp;(5604460) | &nbsp;&nbsp;&nbsp;&nbsp;(44650961) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**9856750** | &nbsp;&nbsp;&nbsp;&nbsp;**$27922692** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**561175** | &nbsp;&nbsp;&nbsp;&nbsp;**$2696388** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2989528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810522 | &nbsp;&nbsp;&nbsp;&nbsp;$5733836 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6551144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17753601 | &nbsp;&nbsp;&nbsp;&nbsp;2500576 | &nbsp;&nbsp;&nbsp;&nbsp;16028692 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2945735) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13270527) | &nbsp;&nbsp;&nbsp;&nbsp;(2950385) | &nbsp;&nbsp;&nbsp;&nbsp;(20012632) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**4487114** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7472602** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**360713** | &nbsp;&nbsp;&nbsp;&nbsp;**$1749896** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital Appreciation Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441729 | &nbsp;&nbsp;&nbsp;&nbsp;$12497984 | &nbsp;&nbsp;&nbsp;&nbsp;5505210 | &nbsp;&nbsp;&nbsp;&nbsp;$44280330 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;19172327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68636931 | &nbsp;&nbsp;&nbsp;&nbsp;8406101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64811035 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(14153878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(89845306) | &nbsp;&nbsp;&nbsp;&nbsp;(6075537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47238491) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7460178** | &nbsp;&nbsp;&nbsp;&nbsp;**$(8710391)** | &nbsp;&nbsp;&nbsp;&nbsp;**7835774** | &nbsp;&nbsp;&nbsp;&nbsp;**$61852874** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**21804042** | &nbsp;&nbsp;&nbsp;&nbsp;**$26684903** | &nbsp;&nbsp;&nbsp;&nbsp;**8757662** | &nbsp;&nbsp;&nbsp;&nbsp;**$66299158** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital Appreciation Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3533108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4706789 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873842 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(235293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2894314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4541040) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**147139** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1717589** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**84472** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1039591** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2162633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7190368 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;3199623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33244084 | &nbsp;&nbsp;&nbsp;&nbsp;2328243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32083186 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2062895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25197069) | &nbsp;&nbsp;&nbsp;&nbsp;(3602656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51369586) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1309960** | &nbsp;&nbsp;&nbsp;&nbsp;**$10209648** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(770071)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12096032)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1059824 | &nbsp;&nbsp;&nbsp;&nbsp;$13314672 | &nbsp;&nbsp;&nbsp;&nbsp;1525497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21511145 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;2456435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25596052 | &nbsp;&nbsp;&nbsp;&nbsp;1561347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21562201 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(685489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8275450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(660257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9477001) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**2830770** | &nbsp;&nbsp;&nbsp;&nbsp;**$30635274** | &nbsp;&nbsp;&nbsp;&nbsp;**2426587** | &nbsp;&nbsp;&nbsp;&nbsp;**$33596345** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**4287869** | &nbsp;&nbsp;&nbsp;&nbsp;**$42562511** | &nbsp;&nbsp;&nbsp;&nbsp;**1740988** | &nbsp;&nbsp;&nbsp;&nbsp;**$22539904** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Disciplined Value International Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3473601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1459411 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030630 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(762617) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10191450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(740085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10551044) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(297918)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4237689)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(498780)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7061003)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5581463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1486091 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102310 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(564873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7565208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(524054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7503691) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(49757)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(550200)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(345238)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4915290)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15958714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10513504 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5089324 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3643558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50204862) | &nbsp;&nbsp;&nbsp;&nbsp;(1268845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18209249) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1983771)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28652717)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(185246)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2606421)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2331446)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33440606)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1029264)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14582714)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Emerging Markets Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2041468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1370092 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156248 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(232595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2292024) | &nbsp;&nbsp;&nbsp;&nbsp;(130007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1406635) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2179)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(36406)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13388** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$119705** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1416664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4108344 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746253 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(548312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5365984) | &nbsp;&nbsp;&nbsp;&nbsp;(644134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6836487) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(288538)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2980656)** | &nbsp;&nbsp;&nbsp;&nbsp;**(183839)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1981890)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Emerging Markets Value Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1417004 | &nbsp;&nbsp;&nbsp;&nbsp;$12887454 | &nbsp;&nbsp;&nbsp;&nbsp;2979632 | &nbsp;&nbsp;&nbsp;&nbsp;$31886524 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6819553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085088 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2762049) | &nbsp;&nbsp;&nbsp;&nbsp;(25881081) | &nbsp;&nbsp;&nbsp;&nbsp;(3514417) | &nbsp;&nbsp;&nbsp;&nbsp;(37775322) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(499995)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6174074)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(60430)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(803710)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(790712)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9191136)** | &nbsp;&nbsp;&nbsp;&nbsp;**(230881)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2665895)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Equity Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6120631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4426246 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28609907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9806219 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1913436) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29918348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2181055) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34735999) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**598125** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4812190** | &nbsp;&nbsp;&nbsp;&nbsp;**(1309176)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(20503534)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8000525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4760686 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14732101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875034 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1329637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20712986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1482184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23582478) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**291720** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2019640** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(889670)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13946758)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$38486654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$80832400 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;10399252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138102068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51543334 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(16778675) | &nbsp;&nbsp;&nbsp;&nbsp;(271625989) | &nbsp;&nbsp;&nbsp;&nbsp;(12235406) | &nbsp;&nbsp;&nbsp;&nbsp;(194805929) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(3869816)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(95037267)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3791409)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(62430195)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2979971)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(88205437)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5990255)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(96880487)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Industries Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1084417 | &nbsp;&nbsp;&nbsp;&nbsp;$16798122 | &nbsp;&nbsp;&nbsp;&nbsp;2406120 | &nbsp;&nbsp;&nbsp;&nbsp;$37107978 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1778261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19863174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684170 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2594321) | &nbsp;&nbsp;&nbsp;&nbsp;(37040959) | &nbsp;&nbsp;&nbsp;&nbsp;(1721910) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26308836) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**268357** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(379663)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**784161** | &nbsp;&nbsp;&nbsp;&nbsp;**$12483312** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3772389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8049134 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3410210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256431 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(433474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6398034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(369325) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5646896) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**117431** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$784565** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**176773** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2658669** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2997287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5867607 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5682706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460694 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(382881) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5828390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(235772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3563280) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**330034** | &nbsp;&nbsp;&nbsp;&nbsp;**$2851603** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**180637** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2765021** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**715822** | &nbsp;&nbsp;&nbsp;&nbsp;**$3256505** | &nbsp;&nbsp;&nbsp;&nbsp;**1141571** | &nbsp;&nbsp;&nbsp;&nbsp;**$17907002** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental All Cap Core Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8279141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406026 | &nbsp;&nbsp;&nbsp;&nbsp;$14637922 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9232515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10257524 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(969300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30118608) | &nbsp;&nbsp;&nbsp;&nbsp;(872953) | &nbsp;&nbsp;&nbsp;&nbsp;(30177525) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(333521)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12606952)** | &nbsp;&nbsp;&nbsp;&nbsp;**(180244)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5282079)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3152631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5003671 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4693418 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(306016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9426443) | &nbsp;&nbsp;&nbsp;&nbsp;(269847) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9458343) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27489)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2036295)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1153** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$238746** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental All Cap Core Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1965309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1116964 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;7170424 | &nbsp;&nbsp;&nbsp;&nbsp;182415585 | &nbsp;&nbsp;&nbsp;&nbsp;5141230 | &nbsp;&nbsp;&nbsp;&nbsp;185238532 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5342624) | &nbsp;&nbsp;&nbsp;&nbsp;(165588376) | &nbsp;&nbsp;&nbsp;&nbsp;(4614549) | &nbsp;&nbsp;&nbsp;&nbsp;(163136432) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1898859** | &nbsp;&nbsp;&nbsp;&nbsp;**$18792518** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**557189** | &nbsp;&nbsp;&nbsp;&nbsp;**$23219064** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1537849** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4149271** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**378098** | &nbsp;&nbsp;&nbsp;&nbsp;**$18175731** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fundamental Large Cap Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484457 | &nbsp;&nbsp;&nbsp;&nbsp;$12901599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833577 | &nbsp;&nbsp;&nbsp;&nbsp;$24538756 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;2765338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59869578 | &nbsp;&nbsp;&nbsp;&nbsp;1923725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56191998 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1906564) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48965339) | &nbsp;&nbsp;&nbsp;&nbsp;(1618362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47645244) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1343231** | &nbsp;&nbsp;&nbsp;&nbsp;**$23805838** | &nbsp;&nbsp;&nbsp;&nbsp;**1138940** | &nbsp;&nbsp;&nbsp;&nbsp;**$33085510** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2345895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8627981 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20858656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20550791 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(848830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22155525) | &nbsp;&nbsp;&nbsp;&nbsp;(1224753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36321712) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**197400** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1049026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(239032)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7142940)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992762 | &nbsp;&nbsp;&nbsp;&nbsp;$25399158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532626 | &nbsp;&nbsp;&nbsp;&nbsp;$15626092 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1054231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22834638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18824449 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(506899) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12991496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(489747) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14301970) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1540094** | &nbsp;&nbsp;&nbsp;&nbsp;**$35242300** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**686890** | &nbsp;&nbsp;&nbsp;&nbsp;**$20148571** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**3080725** | &nbsp;&nbsp;&nbsp;&nbsp;**$60097164** | &nbsp;&nbsp;&nbsp;&nbsp;**1586798** | &nbsp;&nbsp;&nbsp;&nbsp;**$46091141** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Global Equity Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4839149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$585176 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1097880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20793841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1399742) | &nbsp;&nbsp;&nbsp;&nbsp;(29896868) | &nbsp;&nbsp;&nbsp;&nbsp;(1791634) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41746795) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(59345)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4263878)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1767173)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(41161619)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$146361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$585810 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4561661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3934880) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(95182)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2429065)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(144800)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3349070)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3148571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2273735 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(205282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4648171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(167278) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3912759) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**151916** | &nbsp;&nbsp;&nbsp;&nbsp;**$2380786** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(70954)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1639024)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2611)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4312157)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1982927)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(46149713)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Health Sciences Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;154692 | &nbsp;&nbsp;&nbsp;&nbsp;$4126842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5123396 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;343309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7902983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7928751 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(347337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9018924) | &nbsp;&nbsp;&nbsp;&nbsp;(427679) | &nbsp;&nbsp;&nbsp;&nbsp;(13861884) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**150664** | &nbsp;&nbsp;&nbsp;&nbsp;**$3010901** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26007)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(809737)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;127268 | &nbsp;&nbsp;&nbsp;&nbsp;$2927729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2671998 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;381868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7645003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175901 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(500355) | &nbsp;&nbsp;&nbsp;&nbsp;(11374107) | &nbsp;&nbsp;&nbsp;&nbsp;(668796) | &nbsp;&nbsp;&nbsp;&nbsp;(19523183) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8781** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(801375)** | &nbsp;&nbsp;&nbsp;&nbsp;**(289093)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(8675284)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Health Sciences Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;347866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9606723 | &nbsp;&nbsp;&nbsp;&nbsp;395215 | &nbsp;&nbsp;&nbsp;&nbsp;$13031083 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;777648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18360269 | &nbsp;&nbsp;&nbsp;&nbsp;530985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17177377 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(439580) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11744542) | &nbsp;&nbsp;&nbsp;&nbsp;(291477) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9558553) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**685934** | &nbsp;&nbsp;&nbsp;&nbsp;**$16222450** | &nbsp;&nbsp;&nbsp;&nbsp;**634723** | &nbsp;&nbsp;&nbsp;&nbsp;**$20649907** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**845379** | &nbsp;&nbsp;&nbsp;&nbsp;**$18431976** | &nbsp;&nbsp;&nbsp;&nbsp;**319623** | &nbsp;&nbsp;&nbsp;&nbsp;**$11164886** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Equity Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856184 | &nbsp;&nbsp;&nbsp;&nbsp;$14889089 | &nbsp;&nbsp;&nbsp;&nbsp;1412172 | &nbsp;&nbsp;&nbsp;&nbsp;$29421870 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10194850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14421651 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1843574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32227631) | &nbsp;&nbsp;&nbsp;&nbsp;(2255163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46583337) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(291496)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7143692)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(141549)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2739816)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1636255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1593856 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842152 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228168) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3980157) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132847) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2761167) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(94138)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1760772)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(14355)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(325159)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;4925098 | &nbsp;&nbsp;&nbsp;&nbsp;$94006076 | &nbsp;&nbsp;&nbsp;&nbsp;1983913 | &nbsp;&nbsp;&nbsp;&nbsp;$41473560 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1114218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16312146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20407077 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3797835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68674931) | &nbsp;&nbsp;&nbsp;&nbsp;(1303931) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26792167) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**2241481** | &nbsp;&nbsp;&nbsp;&nbsp;**$41643291** | &nbsp;&nbsp;&nbsp;&nbsp;**1673027** | &nbsp;&nbsp;&nbsp;&nbsp;**$35088470** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1855847** | &nbsp;&nbsp;&nbsp;&nbsp;**$32738827** | &nbsp;&nbsp;&nbsp;&nbsp;**1517123** | &nbsp;&nbsp;&nbsp;&nbsp;**$32023495** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Small Company Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$578298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1070427 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102079 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236271) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3039410) | &nbsp;&nbsp;&nbsp;&nbsp;(290204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4664694) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1556)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(499788)** | &nbsp;&nbsp;&nbsp;&nbsp;**(158824)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2492188)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$749592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1647422 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583400 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1777767) | &nbsp;&nbsp;&nbsp;&nbsp;(197559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3222268) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36993** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$92004** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(60318)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(991446)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1078935 | &nbsp;&nbsp;&nbsp;&nbsp;$14355495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829594 | &nbsp;&nbsp;&nbsp;&nbsp;$13384517 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7781693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594628 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1494698) | &nbsp;&nbsp;&nbsp;&nbsp;(18366096) | &nbsp;&nbsp;&nbsp;&nbsp;(688863) | &nbsp;&nbsp;&nbsp;&nbsp;(11156806) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**324645** | &nbsp;&nbsp;&nbsp;&nbsp;**$3771092** | &nbsp;&nbsp;&nbsp;&nbsp;**360451** | &nbsp;&nbsp;&nbsp;&nbsp;**$5822339** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**360082** | &nbsp;&nbsp;&nbsp;&nbsp;**$3363308** | &nbsp;&nbsp;&nbsp;&nbsp;**141309** | &nbsp;&nbsp;&nbsp;&nbsp;**$2338705** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1571824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5960454 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2732821 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4911394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(505997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8585153) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**71980** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$384208** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6346** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$108122** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26420348 | &nbsp;&nbsp;&nbsp;&nbsp;2739861 | &nbsp;&nbsp;&nbsp;&nbsp;$46383888 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6684532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83290674 | &nbsp;&nbsp;&nbsp;&nbsp;3756334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63670255 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(9692478) | &nbsp;&nbsp;&nbsp;&nbsp;(143162085) | &nbsp;&nbsp;&nbsp;&nbsp;(5720301) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98010647) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1207543)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(33451063)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**775894** | &nbsp;&nbsp;&nbsp;&nbsp;**$12043496** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Balanced Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9455184 | &nbsp;&nbsp;&nbsp;&nbsp;1019211 | &nbsp;&nbsp;&nbsp;&nbsp;$17332230 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1251214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15561223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10480543 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(629540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9242763) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(341995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5814240) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1298969** | &nbsp;&nbsp;&nbsp;&nbsp;**$15773644** | &nbsp;&nbsp;&nbsp;&nbsp;**1296880** | &nbsp;&nbsp;&nbsp;&nbsp;**$21998533** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**163406** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17293211)** | &nbsp;&nbsp;&nbsp;&nbsp;**2079120** | &nbsp;&nbsp;&nbsp;&nbsp;**$34150151** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3295265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6636109 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952622 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(384165) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4870792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(387855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5634999) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12802)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(356328)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**135430** | &nbsp;&nbsp;&nbsp;&nbsp;**$1953732** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13657491 | &nbsp;&nbsp;&nbsp;&nbsp;2474011 | &nbsp;&nbsp;&nbsp;&nbsp;$35896026 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12042860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9844226 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3306046) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41594576) | &nbsp;&nbsp;&nbsp;&nbsp;(3418405) | &nbsp;&nbsp;&nbsp;&nbsp;(49755063) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1117533)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15894225)** | &nbsp;&nbsp;&nbsp;&nbsp;**(253617)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4014811)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2192673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3117146 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417268 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1128710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(326119) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4754740) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**147147** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1683486** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(81171)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1220326)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(983188)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(14567067)** | &nbsp;&nbsp;&nbsp;&nbsp;**(199358)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3281405)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4014886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9174447 |
| Issued in reorganization (Note 14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248951 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30241595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21705431 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1427281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22822787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1512729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28626894) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1147140** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$11433694** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**303660** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5501935** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33484927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4374069 |
| Issued in reorganization (Note 14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16521890 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;49729037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647255878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25324882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472384545 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(34683661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(554506480) | &nbsp;&nbsp;&nbsp;&nbsp;(39667271) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(753951243) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**17070927** | &nbsp;&nbsp;&nbsp;&nbsp;**$126234325** | &nbsp;&nbsp;&nbsp;&nbsp;**(13225327)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(260670739)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18345669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43392632 |
| Issued in reorganization (Note 14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19278479 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5897578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76795903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50210447 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1028009) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16734773) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1187199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22682038) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6015398** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$78406799** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4794278** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$90199520** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**24233465** | &nbsp;&nbsp;&nbsp;&nbsp;**$216074818** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8127389)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(164969284)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$723171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3794864 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045218 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2118575) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3251715) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16702** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(47869)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**100374** | &nbsp;&nbsp;&nbsp;&nbsp;**$1588367** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1049266 | &nbsp;&nbsp;&nbsp;&nbsp;$14651039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992897 | &nbsp;&nbsp;&nbsp;&nbsp;$16079867 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1990938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23679443 | &nbsp;&nbsp;&nbsp;&nbsp;1166903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18665532 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3407519) | &nbsp;&nbsp;&nbsp;&nbsp;(47458410) | &nbsp;&nbsp;&nbsp;&nbsp;(2601213) | &nbsp;&nbsp;&nbsp;&nbsp;(42202891) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(367315)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9127928)** | &nbsp;&nbsp;&nbsp;&nbsp;**(441413)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7457492)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Lifestyle Moderate Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;388360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5341648 | &nbsp;&nbsp;&nbsp;&nbsp;578191 | &nbsp;&nbsp;&nbsp;&nbsp;$9294148 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;346202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112909 | &nbsp;&nbsp;&nbsp;&nbsp;176601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820705 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(314835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4392892) | &nbsp;&nbsp;&nbsp;&nbsp;(172780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2771396) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**419727** | &nbsp;&nbsp;&nbsp;&nbsp;**$5061665** | &nbsp;&nbsp;&nbsp;&nbsp;**582012** | &nbsp;&nbsp;&nbsp;&nbsp;**$9343457** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**69114** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4114132)** | &nbsp;&nbsp;&nbsp;&nbsp;**240973** | &nbsp;&nbsp;&nbsp;&nbsp;**$3474332** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Cap Growth Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5996906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4216771 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7921332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55924606 | &nbsp;&nbsp;&nbsp;&nbsp;2949356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62172424 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1615434) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20019596) | &nbsp;&nbsp;&nbsp;&nbsp;(1246522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32485275) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6780856** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$41901916** | &nbsp;&nbsp;&nbsp;&nbsp;**1879123** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$33903920** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1949666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4271299 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5358939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29634931 | &nbsp;&nbsp;&nbsp;&nbsp;1795021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33315597 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978547) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11343695) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(970112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23246365) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4581667** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$20240902** | &nbsp;&nbsp;&nbsp;&nbsp;**1006047** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$14340531** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4267005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55621997 | &nbsp;&nbsp;&nbsp;&nbsp;2500700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64429240 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;21390138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158500923 | &nbsp;&nbsp;&nbsp;&nbsp;7763130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168149385 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6680194) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96826022) | &nbsp;&nbsp;&nbsp;&nbsp;(4097783) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(111815881) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**18976949** | &nbsp;&nbsp;&nbsp;&nbsp;**$117296898** | &nbsp;&nbsp;&nbsp;&nbsp;**6166047** | &nbsp;&nbsp;&nbsp;&nbsp;**$120762744** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**30339472** | &nbsp;&nbsp;&nbsp;&nbsp;**$179439716** | &nbsp;&nbsp;&nbsp;&nbsp;**9051217** | &nbsp;&nbsp;&nbsp;&nbsp;**$169007195** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483842 | &nbsp;&nbsp;&nbsp;&nbsp;$10427675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34634399 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;7612684 | &nbsp;&nbsp;&nbsp;&nbsp;134972895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2743185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66961139 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5114569) | &nbsp;&nbsp;&nbsp;&nbsp;(108063655) | &nbsp;&nbsp;&nbsp;&nbsp;(7161492) | &nbsp;&nbsp;&nbsp;&nbsp;(175155190) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**2981957** | &nbsp;&nbsp;&nbsp;&nbsp;**$37336915** | &nbsp;&nbsp;&nbsp;&nbsp;**(3011680)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(73559652)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$208383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1561811 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8761887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4415180 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(421611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9018764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(429273) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10470671) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**85255** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(48494)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(183764)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4493680)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581559 | &nbsp;&nbsp;&nbsp;&nbsp;$12558395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42052950 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;2071983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36736251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17940775 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1607197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34747358) | &nbsp;&nbsp;&nbsp;&nbsp;(1840063) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44569848) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1046345** | &nbsp;&nbsp;&nbsp;&nbsp;**$14547288** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**610779** | &nbsp;&nbsp;&nbsp;&nbsp;**$15423877** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**4113557** | &nbsp;&nbsp;&nbsp;&nbsp;**$51835709** | &nbsp;&nbsp;&nbsp;&nbsp;**(2584665)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(62629455)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1887361 | &nbsp;&nbsp;&nbsp;&nbsp;$21863151 | &nbsp;&nbsp;&nbsp;&nbsp;2187644 | &nbsp;&nbsp;&nbsp;&nbsp;$26039905 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;2939583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27955439 | &nbsp;&nbsp;&nbsp;&nbsp;1140851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13610356 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2676534) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30236736) | &nbsp;&nbsp;&nbsp;&nbsp;(3841551) | &nbsp;&nbsp;&nbsp;&nbsp;(45319933) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**2150410** | &nbsp;&nbsp;&nbsp;&nbsp;**$19581854** | &nbsp;&nbsp;&nbsp;&nbsp;**(513056)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5669672)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4512144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7515590 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6338897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2998835 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(656453) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7347098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(831316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9834529) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**411605** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3503943** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36100** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$679896** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mid Value Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1237635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13789529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9108996 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;4012010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37793133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20260519 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5971524) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70395258) | &nbsp;&nbsp;&nbsp;&nbsp;(5816234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68359507) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(721879)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18812596)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3332872)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(38989992)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1840136** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4273201** | &nbsp;&nbsp;&nbsp;&nbsp;**(3809828)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(43979768)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Real Estate Securities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1288229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2686669 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028492 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(344283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7713498) | &nbsp;&nbsp;&nbsp;&nbsp;(496205) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11625824) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48454** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(754517)** | &nbsp;&nbsp;&nbsp;&nbsp;**(345921)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7910663)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2672394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5909791 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495183 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307431) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7256992) | &nbsp;&nbsp;&nbsp;&nbsp;(366986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8597536) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15854)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1588900)** | &nbsp;&nbsp;&nbsp;&nbsp;**(102504)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2192562)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1022353 | &nbsp;&nbsp;&nbsp;&nbsp;$23449641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9489362 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1408695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23849206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022665 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1764430) | &nbsp;&nbsp;&nbsp;&nbsp;(38435032) | &nbsp;&nbsp;&nbsp;&nbsp;(935914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21487588) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**666618** | &nbsp;&nbsp;&nbsp;&nbsp;**$8863815** | &nbsp;&nbsp;&nbsp;&nbsp;**(369874)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(7975561)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**699218** | &nbsp;&nbsp;&nbsp;&nbsp;**$6520398** | &nbsp;&nbsp;&nbsp;&nbsp;**(818299)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18078786)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Science & Technology Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20805507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595932 | &nbsp;&nbsp;&nbsp;&nbsp;$26145447 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;20968397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240507519 | &nbsp;&nbsp;&nbsp;&nbsp;4620916 | &nbsp;&nbsp;&nbsp;&nbsp;174485794 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4152187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96928182) | &nbsp;&nbsp;&nbsp;&nbsp;(4822740) | &nbsp;&nbsp;&nbsp;&nbsp;(206372873) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**17810084** | &nbsp;&nbsp;&nbsp;&nbsp;**$164384844** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**394108** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5741632)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2351858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9523589 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23611608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17304448 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(505560) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12070969) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(516323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20655274) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2117044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$13892497** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**219564** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6172763** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13828818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279157 | &nbsp;&nbsp;&nbsp;&nbsp;$11995758 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50977686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31106075 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(445063) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11404961) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(264757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11567250) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4419650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$53401543** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**821511** | &nbsp;&nbsp;&nbsp;&nbsp;**$31534583** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**24346778** | &nbsp;&nbsp;&nbsp;&nbsp;**$231678884** | &nbsp;&nbsp;&nbsp;&nbsp;**1435183** | &nbsp;&nbsp;&nbsp;&nbsp;**$31965714** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1159810 | &nbsp;&nbsp;&nbsp;&nbsp;$16343787 | &nbsp;&nbsp;&nbsp;&nbsp;2876576 | &nbsp;&nbsp;&nbsp;&nbsp;$53464114 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;4627769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54468844 | &nbsp;&nbsp;&nbsp;&nbsp;2049038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36104058 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2942082) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41440097) | &nbsp;&nbsp;&nbsp;&nbsp;(4433679) | &nbsp;&nbsp;&nbsp;&nbsp;(81026808) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**2845497** | &nbsp;&nbsp;&nbsp;&nbsp;**$29372534** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**491935** | &nbsp;&nbsp;&nbsp;&nbsp;**$8541364** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$770472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1920724 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2821544 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276623) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3879308) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(335465) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6119976) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**139238** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1103915** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(68491)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1377708)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Index Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780666 | &nbsp;&nbsp;&nbsp;&nbsp;$10923779 | &nbsp;&nbsp;&nbsp;&nbsp;1784256 | &nbsp;&nbsp;&nbsp;&nbsp;$32919972 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1666296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19645629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12923887 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1429921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20593422) | &nbsp;&nbsp;&nbsp;&nbsp;(1557864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28232952) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1017041** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9975986** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**958624** | &nbsp;&nbsp;&nbsp;&nbsp;**$17610907** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**4001776** | &nbsp;&nbsp;&nbsp;&nbsp;**$40452435** | &nbsp;&nbsp;&nbsp;&nbsp;**1382068** | &nbsp;&nbsp;&nbsp;&nbsp;**$24774563** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2894788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3228275 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;456445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11570880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357324 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(336282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10039296) | &nbsp;&nbsp;&nbsp;&nbsp;(441462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14025928) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**217733** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4426372** | &nbsp;&nbsp;&nbsp;&nbsp;**(271159)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8440329)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1442610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6357273 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;171107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4214354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827428 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(161975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4670639) | &nbsp;&nbsp;&nbsp;&nbsp;(327848) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10200183) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**62216** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$986325** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(99586)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3015482)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;506103 | &nbsp;&nbsp;&nbsp;&nbsp;$15060834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19530350 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;265844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6675349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925316 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2956342) | &nbsp;&nbsp;&nbsp;&nbsp;(644489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20537137) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**672486** | &nbsp;&nbsp;&nbsp;&nbsp;**$18779841** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11767)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(81471)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**952435** | &nbsp;&nbsp;&nbsp;&nbsp;**$24192538** | &nbsp;&nbsp;&nbsp;&nbsp;**(382512)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11537282)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Stock Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4907556 | &nbsp;&nbsp;&nbsp;&nbsp;1399894 | &nbsp;&nbsp;&nbsp;&nbsp;$17241927 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4028836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20748505 | &nbsp;&nbsp;&nbsp;&nbsp;1696147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17775622 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1921384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14463192) | &nbsp;&nbsp;&nbsp;&nbsp;(3506932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42513704) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2771220** | &nbsp;&nbsp;&nbsp;&nbsp;**$11192869** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(410891)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7496155)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$806059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2725806 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7254687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6055887 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(732148) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4485859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(918139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10050916) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1057545** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3574887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(26569)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1269223)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3094082 | &nbsp;&nbsp;&nbsp;&nbsp;3538857 | &nbsp;&nbsp;&nbsp;&nbsp;$46383861 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8767136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46816507 | &nbsp;&nbsp;&nbsp;&nbsp;3626860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38952480 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2734715) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22400144) | &nbsp;&nbsp;&nbsp;&nbsp;(4044598) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49233763) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6464452** | &nbsp;&nbsp;&nbsp;&nbsp;**$27510445** | &nbsp;&nbsp;&nbsp;&nbsp;**3121119** | &nbsp;&nbsp;&nbsp;&nbsp;**$36102578** |
| **Total net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**10293217** | &nbsp;&nbsp;&nbsp;&nbsp;**$42278201** | &nbsp;&nbsp;&nbsp;&nbsp;**2683659** | &nbsp;&nbsp;&nbsp;&nbsp;**$27337200** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392402 | &nbsp;&nbsp;&nbsp;&nbsp;$6508219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16682686 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1901625 | &nbsp;&nbsp;&nbsp;&nbsp;25481781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461150 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1862551) | &nbsp;&nbsp;&nbsp;&nbsp;(30296336) | &nbsp;&nbsp;&nbsp;&nbsp;(2541053) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43636062) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**431476** | &nbsp;&nbsp;&nbsp;&nbsp;**$1693664** | &nbsp;&nbsp;&nbsp;&nbsp;**(1449113)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24492226)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161451 | &nbsp;&nbsp;&nbsp;&nbsp;$2668108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6852808 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318967 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5821939) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(504592) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8679685) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**89512** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$584808** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(86845)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1507910)** |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Cap Value Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1229398 | &nbsp;&nbsp;&nbsp;&nbsp;$18152101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30498599 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;3535566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47129095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804529 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3486794) | &nbsp;&nbsp;&nbsp;&nbsp;(59032856) | &nbsp;&nbsp;&nbsp;&nbsp;(3610676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63597921) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1278170** | &nbsp;&nbsp;&nbsp;&nbsp;**$6248340** | &nbsp;&nbsp;&nbsp;&nbsp;**(1490215)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(28294793)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1799158** | &nbsp;&nbsp;&nbsp;&nbsp;**$8526812** | &nbsp;&nbsp;&nbsp;&nbsp;**(3026173)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(54294929)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Small Company Value Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181155 | &nbsp;&nbsp;&nbsp;&nbsp;$1870291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3846663 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6135017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636688 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(590227) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6301641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(960328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11709542) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**280256** | &nbsp;&nbsp;&nbsp;&nbsp;**$1703667** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(519336)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6226191)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$774177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1255246 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4931682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212560 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(541981) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5392907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(785773) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9064155) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**122382** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$312952** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(577204)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(6596349)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404303 | &nbsp;&nbsp;&nbsp;&nbsp;$4304911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5398970 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7932221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906048 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(482487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5059230) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(701374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8399467) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**819126** | &nbsp;&nbsp;&nbsp;&nbsp;**$7177902** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(98220)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1094449)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1221764** | &nbsp;&nbsp;&nbsp;&nbsp;**$9194521** | &nbsp;&nbsp;&nbsp;&nbsp;**(1194760)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13916989)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Equity Allocation Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5734507 | &nbsp;&nbsp;&nbsp;&nbsp;$103462422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8219267 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;90277463 | &nbsp;&nbsp;&nbsp;&nbsp;1325273153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46370084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025242559 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(52290796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(985501439) | &nbsp;&nbsp;&nbsp;&nbsp;(83517168) | &nbsp;&nbsp;&nbsp;&nbsp;(1907048965) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**43721174** | &nbsp;&nbsp;&nbsp;&nbsp;**$443234136** | &nbsp;&nbsp;&nbsp;&nbsp;**(36799268)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(873587139)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**43721174** | &nbsp;&nbsp;&nbsp;&nbsp;**$443234136** | &nbsp;&nbsp;&nbsp;&nbsp;**(36799268)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(873587139)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Stock Market Index Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743513 | &nbsp;&nbsp;&nbsp;&nbsp;$18741014 | &nbsp;&nbsp;&nbsp;&nbsp;1399592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$41309343 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;3349185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70332892 | &nbsp;&nbsp;&nbsp;&nbsp;1141791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34482074 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3259410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82750719) | &nbsp;&nbsp;&nbsp;&nbsp;(3277674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97097932) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**833288** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$6323187** | &nbsp;&nbsp;&nbsp;&nbsp;**(736291)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(21306515)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$403035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2618162 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5990945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2815513 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4101240) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6518989) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**140457** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2292740** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(37530)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1085314)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7714852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7249329 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;1436334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30163023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14173525 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(801651) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21087189) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(530868) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15523190) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**940907** | &nbsp;&nbsp;&nbsp;&nbsp;**$16790686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**185294** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5899664** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**1914652** | &nbsp;&nbsp;&nbsp;&nbsp;**$25406613** | &nbsp;&nbsp;&nbsp;&nbsp;**(588527)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16492165)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Emerging Markets Value Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust, where affiliates owned 99.41%, 83.26%, 99.57% and 81.23% of Series II, respectively, and Emerging Markets Value Trust and International Equity Index Trust, where affiliates owned 59.16% and 99.97% of Series NAV, respectively, on December 31, 2022. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| 500 Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$135911466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$256199211 |
| American Asset Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155986364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113007862 |
| American Global Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37557317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25998736 |
| American Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177608804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98477523 |
| American Growth-Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109487935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116404817 |
| American International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77354085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58026140 |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293213570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414736485 |
| Capital Appreciation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159925020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269357017 |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;$87475549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277914837 | &nbsp;&nbsp;&nbsp;&nbsp;$45000618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311037707 |
| Disciplined Value International Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195056774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234347590 |
| Emerging Markets Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33089326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42135533 |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228040745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461062585 |
| Financial Industries Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77726957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101117939 |
| Fundamental All Cap Core Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601061017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811283549 |
| Fundamental Large Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155739610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179320139 |
| Global Equity Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180622828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207355103 |
| Health Sciences Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66797983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85074932 |
| International Equity Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69311413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44388963 |
| International Small Company Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21548340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26054034 |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146076068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165101907 |
| Lifestyle Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29344738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46560343 |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813512180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660089359 |
| Lifestyle Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47160124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53579106 |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619969274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677480398 |
| Mid Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141206439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256425907 |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275094715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320636928 |
| Real Estate Securities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319597880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339376635 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838908870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926243075 |
| Small Cap Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66851628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95933267 |
| Small Cap Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42926710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41655146 |
| Small Cap Stock Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250381061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277586750 |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196007745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256518350 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36719415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47736837 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302991148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1025644205 |
| Total Stock Market Index Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11055677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84531935 |

---

8. Industry or sector risk

The portfolios may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a portfolio's assets are economically tied to a single or small number of industries or sectors of the economy, the portfolio will be less diversified than a more broadly diversified portfolio, and it may cause the portfolio to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the portfolio's NAV more volatile. Further, a portfolio that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.

9. Investment in affiliated underlying funds

The Lifestyle Portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The Lifestyle Portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each affiliated underlying funds' net assets. At December 31, 2022, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
| Lifestyle Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5% |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;49.7% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;24.2% |

---

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Investment in affiliated underlying funds, continued

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** | **500 Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;22137618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2433032 | $475202475 | $(256412706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(17922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$78322 | &nbsp;&nbsp;&nbsp;&nbsp;$2258690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$221283201 |
| **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** | **Blue Chip Growth Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7988139 | &nbsp;&nbsp;$80865030 | &nbsp;&nbsp;$(87676316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(7682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$57215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1169436 |
| **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** | **Capital Appreciation Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$104677 | &nbsp;&nbsp;&nbsp;&nbsp;$2882070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(136802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2849917 |
| **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** | **Capital Appreciation Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1954744 | &nbsp;&nbsp;$10968090 | &nbsp;&nbsp;$(12922050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** | **Disciplined Value International Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$61418512 | &nbsp;&nbsp;$(61416125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** | **Emerging Markets Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1942586 | &nbsp;&nbsp;$12557289 | &nbsp;&nbsp;$(14498851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1327) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** | **Equity Income Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;5642825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6149481 | $146365724 | &nbsp;&nbsp;$(96112518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(598) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$109571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56404547 |
| **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** | **Financial Industries Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$33678284 | &nbsp;&nbsp;$(27998460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5681050 |
| **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** | **Fundamental All Cap Core Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;4581360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $149849846 | $(104064680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$311851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45794358 |
| **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** | **Fundamental Large Cap Value Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$31577919 | &nbsp;&nbsp;$(25475138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6104753 |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2968797 | $114333730 | $(117151471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$120407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$142499 |
| **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** | **International Small Company Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2475909 | &nbsp;&nbsp;$20576979 | &nbsp;&nbsp;$(23049528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$61858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** | **Lifestyle Balanced Portfolio** |
| Select Bond Trust | &nbsp;&nbsp;39124748 | &nbsp;&nbsp;&nbsp;$594048540 | &nbsp;&nbsp;$51493928 | &nbsp;&nbsp;$(99064439) | &nbsp;&nbsp;$(8400083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(90099584) | &nbsp;&nbsp;&nbsp;&nbsp;$14419063 | &nbsp;&nbsp;&nbsp;&nbsp;$3800739 | &nbsp;&nbsp;&nbsp;&nbsp;$447978362 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;29670029 | &nbsp;&nbsp;&nbsp;&nbsp;605352589 | &nbsp;&nbsp;&nbsp;&nbsp;94582140 | &nbsp;&nbsp;&nbsp;&nbsp;(66037468) | &nbsp;&nbsp;&nbsp;&nbsp;8976456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(191889281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7304267 | &nbsp;&nbsp;&nbsp;&nbsp;78040132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450984436 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$576373** | &nbsp;&nbsp;&nbsp;**$(281988865)** | &nbsp;&nbsp;**$21723330** | &nbsp;&nbsp;**$81840871** | &nbsp;&nbsp;&nbsp;**$898962798** |
| **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** | **Lifestyle Conservative Portfolio** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1066) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21217 |
| Select Bond Trust | &nbsp;&nbsp;11548333 | &nbsp;&nbsp;&nbsp;$180432462 | &nbsp;&nbsp;&nbsp;&nbsp;12306132 | &nbsp;&nbsp;&nbsp;&nbsp;(30859542) | &nbsp;&nbsp;$(2364882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27285763) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4315111 | &nbsp;&nbsp;&nbsp;&nbsp;$1137424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132228407 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;2178140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45036283 | &nbsp;&nbsp;&nbsp;&nbsp;17038606 | &nbsp;&nbsp;&nbsp;&nbsp;(15700801) | &nbsp;&nbsp;&nbsp;&nbsp;1693210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14959566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5820329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33107732 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(671672)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(42245326)** | &nbsp;&nbsp;&nbsp;&nbsp;**$4860020** | &nbsp;&nbsp;&nbsp;&nbsp;**$6957753** | &nbsp;&nbsp;&nbsp;**$165357356** |
| **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** | **Lifestyle Growth Portfolio** |
| Select Bond Trust | 125741645 | $1885450327 | $152141437 | $(281124095) | $(21684274) | &nbsp;&nbsp;&nbsp;&nbsp;$(295041564) | &nbsp;&nbsp;&nbsp;&nbsp;$46573088 | &nbsp;&nbsp;&nbsp;&nbsp;$12276261 | &nbsp;&nbsp;$1439741831 |
| Strategic Equity Allocation Trust | 225848655 | &nbsp;&nbsp;4541486014 | &nbsp;&nbsp;661370743 | &nbsp;&nbsp;(378965264) | &nbsp;&nbsp;&nbsp;46753372 | &nbsp;&nbsp;&nbsp;&nbsp;(1437745313) | &nbsp;&nbsp;&nbsp;&nbsp;55437611 | &nbsp;&nbsp;&nbsp;&nbsp;592305622 | &nbsp;&nbsp;&nbsp;&nbsp;3432899552 |
|  |  |  |  |  | **$25069098** | **$(1732786877)** | **$102010699** | **$604581883** | **$4872641383** |
| **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** | **Lifestyle Moderate Portfolio** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15630 |

---

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Select Bond Trust | 14323906 | $215666085 | &nbsp;&nbsp;&nbsp;&nbsp;$20153353 | &nbsp;&nbsp;$(35725804) | $(3417294) | &nbsp;&nbsp;$(32667622) | &nbsp;&nbsp;$5290618 | &nbsp;&nbsp;&nbsp;$1394560 | &nbsp;&nbsp;$164008718 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;7280355 | &nbsp;&nbsp;146136996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27006771 | &nbsp;&nbsp;&nbsp;&nbsp;(17853302) | &nbsp;&nbsp;&nbsp;3506808 | &nbsp;&nbsp;&nbsp;(48135870) | &nbsp;&nbsp;&nbsp;1800200 | &nbsp;&nbsp;&nbsp;19233672 | &nbsp;&nbsp;&nbsp;&nbsp;110661403 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$89514** | **$(80803491)** | **$7090913** | **$20628232** | **$274685751** |
| **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** | **Mid Cap Growth Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;1584624 | &nbsp;&nbsp;$50950585 | &nbsp;&nbsp;&nbsp;$183003014 | $(218100590) | &nbsp;&nbsp;&nbsp;&nbsp;$(19234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$15839582 |
| **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** | **Mid Cap Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;3792295 | &nbsp;&nbsp;&nbsp;&nbsp;$9901319 | &nbsp;&nbsp;&nbsp;$204310751 | $(176305176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(7266) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7393 | &nbsp;&nbsp;&nbsp;&nbsp;$636210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$37907021 |
| **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** | **Mid Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;1304933 | &nbsp;&nbsp;&nbsp;&nbsp;$1029121 | &nbsp;&nbsp;&nbsp;&nbsp;$67073418 | &nbsp;&nbsp;$(55057638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$13043847 |
| **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** | **Real Estate Securities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1555545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7691381 | &nbsp;&nbsp;&nbsp;&nbsp;$(9246282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** | **Science & Technology Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;294735 | &nbsp;&nbsp;&nbsp;&nbsp;$8572790 | &nbsp;&nbsp;&nbsp;&nbsp;$94216776 | &nbsp;&nbsp;$(99833423) | &nbsp;&nbsp;&nbsp;&nbsp;$(10655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$620 | &nbsp;&nbsp;&nbsp;&nbsp;$103020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$2946108 |
| **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** | **Small Cap Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;2484985 | &nbsp;&nbsp;&nbsp;&nbsp;$6126348 | &nbsp;&nbsp;&nbsp;$129547248 | $(110832103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(9013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6933 | &nbsp;&nbsp;&nbsp;&nbsp;$875410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$24839413 |
| **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** | **Small Cap Opportunities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$806089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7509569 | &nbsp;&nbsp;&nbsp;&nbsp;$(7400975) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$914649 |
| **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** | **Small Cap Stock Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;630107 | &nbsp;&nbsp;&nbsp;&nbsp;$2941841 | &nbsp;&nbsp;&nbsp;&nbsp;$79387233 | &nbsp;&nbsp;$(76029655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1512) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6298427 |
| **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** | **Small Cap Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;609076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$14971468 | &nbsp;&nbsp;&nbsp;&nbsp;$(8883190) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(78) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6088199 |
| **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** | **Small Company Value Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84715 | &nbsp;&nbsp;&nbsp;&nbsp;$1741904 | &nbsp;&nbsp;&nbsp;&nbsp;$17535439 | &nbsp;&nbsp;$(18428191) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$846797 |
| **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** | **Strategic Equity Allocation Trust** |
| John Hancock Collateral Trust\* | 23449033 | &nbsp;&nbsp;$26701436 | $1106441147 | $(898745510) | &nbsp;&nbsp;&nbsp;&nbsp;$(47655) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42429 | &nbsp;&nbsp;$3183582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$234391847 |
| **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** | **Total Stock Market Index Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;2527141 | &nbsp;&nbsp;&nbsp;&nbsp;$6114405 | &nbsp;&nbsp;&nbsp;&nbsp;$95999905 | &nbsp;&nbsp;$(76850951) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(4375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1813 | &nbsp;&nbsp;&nbsp;&nbsp;$383128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$25260797 |

---

\* Refer to the Securities lending note within Note 2 for details regarding this investment.

10. Investment in affiliates of advisor

Information regarding the portfolios' fiscal year to date purchases and sales of affiliated investments of the advisor as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** | **International Equity Index Trust** |
| Manulife Financial Corp. | 68000 | $1259869 | $115923 | $(80704) | $27304 | $(109541) | $58255 |  | $1212851 |

---

11. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At December 31, 2022, the following fund(s) had an affiliate ownership of 5% or more of the portfolios' net assets:

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

#### Investment by affiliated funds, continued

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.1% |
| Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42.0% |
| Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4% |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.2% |
| Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.6% |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;100.0% |

---

12. Interfund trading

The portfolios are permitted to purchase or sell securities from or to certain other affiliated funds, as set forth in Rule 17a-7 of the 1940 Act, under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the portfolios from or to another fund that is or could be considered an affiliate complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. Pursuant to these procedures, for the year ended December 31, 2022, the portfolios engaged in securities purchases and sales with affiliated funds, some of which have different fiscal reporting periods, as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;$5234570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Capital Appreciation Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288672 | &nbsp;&nbsp;&nbsp;&nbsp;$69180 |
| Science & Technology Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10509 |
| Small Company Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

13. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at December 31, 2022:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer,<br> Description** | &nbsp;&nbsp;&nbsp;**Original<br> acquisition date** | &nbsp;&nbsp;&nbsp;**Acquisition<br> cost** | &nbsp;&nbsp;&nbsp;**Beginning<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Shares<br> purchased** | &nbsp;&nbsp;&nbsp;**Shares<br> sold** | &nbsp;&nbsp;&nbsp;**Ending<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Value as a<br> percentage of<br> net assets** | &nbsp;&nbsp;&nbsp;**Ending<br> value** |
| **Emerging Markets Value Trust** |  |  |  |  |  |  |  |  |
| Yes Bank, Ltd., Lock-In Shares | &nbsp;&nbsp;&nbsp;10-4-21 | &nbsp;&nbsp;&nbsp;&nbsp;$618081 | &nbsp;&nbsp;&nbsp;&nbsp;147461 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;147461 | &nbsp;&nbsp;&nbsp;0.0%<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35967 |
| **Mid Cap Growth Trust** |  |  |  |  |  |  |  |  |
| Essence Group Holdings Corp. | &nbsp;&nbsp;&nbsp;5-1-14 | &nbsp;&nbsp;&nbsp;$2731549 | &nbsp;&nbsp;&nbsp;1663188 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1663188 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% | &nbsp;&nbsp;&nbsp;&nbsp;$3376272 |
| Lookout, Inc., Series F | &nbsp;&nbsp;&nbsp;7-31-14 | &nbsp;&nbsp;&nbsp;&nbsp;2338736 | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% | &nbsp;&nbsp;&nbsp;&nbsp;1601513 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$4977785** |

---

<sup>1</sup> Less than 0.05%.

14. Reorganization

#### Fiscal year ended December 31, 2021, portfolio mergers:
**Lifestyle Growth Portfolio. On April 6, 2021, the shareholders of Lifestyle Aggressive Portfolio (the Acquired Portfolio) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Lifestyle Growth Portfolio (the Acquiring Portfolio) with a value equal to the net assets transferred.**

The Agreement provided for (a) the acquisition of all the assets, subject to all of the liabilities, of the Acquired Portfolio in exchange for shares of the Acquiring Portfolio with a value equal to the net assets transferred; (b) the liquidation of the Acquired Portfolio; and (c) the distribution to Acquired Portfolio's shareholders of such Acquiring Portfolio's shares. The reorganization was intended to achieve a more consistent long-term performance record and stronger prospects for growth and achieve potential opportunities for economies of scale. As a result of the reorganization, the Acquiring Portfolio is the legal and accounting survivor.

The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Portfolio or its shareholders. Thus, the investments were transferred to the Acquiring Portfolio at the Acquired Portfolio's identified cost. All distributable amounts of net income and realized gains from the Acquired Portfolio were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Advisor. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on April 23, 2021. The following outlines the reorganization:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Acquiring<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Net Asset<br> Value of the<br> Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Appreciation<br> of the<br> Acquired<br> Portfolio's<br> Investments** | &nbsp;&nbsp;&nbsp;**Shares<br> Redeemed<br> by the<br> Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Shares<br> Issued<br> by the<br> Acquiring<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Acquiring<br> Portfolio<br> Net Assets<br> Prior to<br> Combination** | &nbsp;&nbsp;&nbsp;**Acquiring<br> Portfolio<br> Total Net<br> Assets After<br> Combination** |
| Lifestyle Growth Portfolio | &nbsp;&nbsp;&nbsp;Lifestyle Aggressive Portfolio | &nbsp;&nbsp;&nbsp;$39049320 | &nbsp;&nbsp;&nbsp;$4861895 | &nbsp;&nbsp;&nbsp;2670510 | &nbsp;&nbsp;&nbsp;2049192 | &nbsp;&nbsp;&nbsp;$6517387239 | &nbsp;&nbsp;&nbsp;$6556436559 |

---

See Note 6 for capital shares issued in connection with the above referenced reorganization.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

15. LIBOR discontinuation risk

LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR's usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR's deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.

The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.

The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.

16. New accounting pronouncement

In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2024. Management expects that the adoption of the guidance will not have a material impact to the financial statements.

17. Other matters

#### Tribune
The Trust and several of its portfolios, including the 500 Index Trust, Equity Income Trust, Mid Value Trust and Total Stock Market Index Trust (the "portfolios"), were named as defendants in a number of adversary proceedings in state and Federal courts across the country arising out of an $8 billion leveraged buyout ("LBO") transaction in 2007 whereby the Tribune Company ("Tribune") converted to a privately held company. In Kirchner v. FitzSimons, No.12-2652 (S.D.N.Y.) (the "FitzSimons Action"), the plaintiff alleges that Tribune insiders and shareholders were overpaid for their Tribune stock and is attempting to obtain from former shareholders the proceeds received in connection with the LBO. This claim was brought as a putative defendant class action that names certain shareholders as representatives of a potential class comprised of all Tribune shareholders that tendered their shares in the LBO and received proceeds as a result, including certain John Hancock mutual funds. Certain John Hancock mutual funds received a total of approximately $49 million in connection with the LBO. The total amounts at issue for the 500 Index Trust, Equity Income Trust, Mid Value Trust, and Total Stock Market Index Trust are approximately $600,000, $30.5 million, $1.8 million, and $114,000, respectively. In addition, a group of Tribune creditors filed fifty-three actions in various state and federal courts against former Tribune shareholders asserting state law constructive fraudulent conveyance claims arising out of the 2007 LBO (the "SLCFC Actions"). The FitzSimons Action and the SLCFC Actions have been consolidated with the other LBO-related lawsuits in a multidistrict litigation proceeding captioned in re Tribune Company Fraudulent Conveyance Litigation, No.11-md-2696 (S.D.N.Y.).

As of August 1, 2019, all claims related to this matter have been dismissed. However, two controlling rulings are being appealed- 1) the plaintiffs are seeking U.S. Supreme Court review of the Court of Appeals for the Second Circuit's dismissal of the plaintiff's state law constructive fraudulent conveyance claims; and 2) the plaintiffs are appealing the dismissal of the plaintiff's intentional fraudulent transfer claim against the shareholder defendants. On April 19, 2021, the U.S. Supreme Court rejected the plaintiff's petition for review; and on August 4, 2021, the Second Circuit Court of Appeals issued its opinion affirming the dismissal of the plaintiff's claim. On September 3, 2021, a petition was filed by the plaintiffs for a rehearing with the Court of Appeals for the Second Circuit. On October 17, 2021, this petition was denied. On January 5, 2022, the plaintiff filed a petition with the Supreme Court of the United States, seeking further review of the Second Circuit's decision. On February 22, 2022 the Supreme Court denied the petition, closing the case.

#### The Jones Group
Strategic Equity Allocation Trust, Small Cap Index Trust, Small Cap Opportunities Trust, and other affiliates have been named as defendants in a lawsuit related to The Jones Group, a fashion company. It is alleged that in 2014, The Jones Group consummated a series of transactions that rendered it insolvent, increased debt, significantly decreased its assets, and distributed more than $1 billion to its shareholders, all to the detriment of the company and its creditors. Equivalent lawsuits have been filed in California, New Jersey, Texas, Illinois and Florida. The total amounts at issue for Strategic Equity Allocation Trust, Small Cap Index Trust, and Small Cap Opportunities Trust are approximately $375,000, $320,000, and $191,000, respectively.

On March 30, 2020, the plaintiffs filed a Motion for Transfer of Actions to the District of Massachusetts. The plaintiffs were seeking to consolidate 13 actions in 6 different federal districts against 188 defendants in a Multidistrict Panel in Massachusetts. $550 million is being sought from these 188 defendants. On April 27, 2020, the shareholder defendants filed their response to plaintiffs' Motion to Transfer. On June 2, 2020, the United States Judicial Panel on Multidistrict Litigation issued a Transfer Order sending all the cases to the Southern District of New York. Accordingly, the litigation will be governed by Second Circuit precedent.

On June 12, 2020, a Scheduling Order was issued. On June 29, 2020, a global Motion to Dismiss Under the Safe Harbor of Section 546(e) of the Bankruptcy Code was filed by the defendants. On August 27, 2020, the Motion to Dismiss was granted. Following the dismissal, appeals were filed by the plaintiffs and are pending.

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Other matters, continued

At this time, the portfolios cannot predict the outcome of these proceedings. If the proceeding were to be decided in a manner adverse to the portfolios or if the portfolios enter into a settlement agreement with the plaintiffs, depending upon the circumstances, the payment of such judgement or settlement could have an adverse effect on the portfolios' net asset value.

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John Hancock Variable Insurance Trust

------

#### Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of 500 Index Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth - Income Trust, American International Trust, Blue Chip Growth Trust, Capital Appreciation Trust, Capital Appreciation Value Trust, Disciplined Value International Trust, Emerging Markets Value Trust, Equity Income Trust, Financial Industries Trust, Fundamental All Cap Core Trust, Fundamental Large Cap Value Trust, Global Equity Trust, Health Sciences Trust, International Equity Index Trust, International Small Company Trust, Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, Mid Cap Growth Trust, Mid Cap Index Trust, Mid Value Trust, Real Estate Securities Trust, Science & Technology Trust, Small Cap Index Trust, Small Cap Opportunities Trust, Small Cap Stock Trust, Small Cap Value Trust, Small Company Value Trust, Strategic Equity Allocation Trust and Total Stock Market Index Trust**

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of 500 Index Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth - Income Trust, American International Trust, Blue Chip Growth Trust, Capital Appreciation Trust, Capital Appreciation Value Trust, Disciplined Value International Trust, Emerging Markets Value Trust, Equity Income Trust, Financial Industries Trust, Fundamental All Cap Core Trust, Fundamental Large Cap Value Trust, Global Equity Trust, Health Sciences Trust, International Equity Index Trust, International Small Company Trust, Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, Mid Cap Growth Trust, Mid Cap Index Trust, Mid Value Trust, Real Estate Securities Trust, Science & Technology Trust, Small Cap Index Trust, Small Cap Opportunities Trust, Small Cap Stock Trust, Small Cap Value Trust, Small Company Value Trust, Strategic Equity Allocation Trust and Total Stock Market Index Trust (thirty-five of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 21, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

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## John Hancock Variable Insurance Trust

#### Special shareholder meeting

------

(Unaudited)

The portfolios held a Special Joint Meeting of Shareholders on Friday, September 9, 2022. The following proposals were considered by the shareholders:

#### Proposal 1: To elect eight Trustees as members of the Board of Trustees of the Trust.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes<br> for the nominee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes withheld<br> from the nominee** |
| **Independent Trustees** |  |  |
| James R. Boyle | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312220638.454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31482911.803 |
| Noni L. Ellison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6307344100.566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36359449.691 |
| Dean C. Garfield | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306606071.373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37097478.884 |
| Patricia Lizarraga | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311739137.777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31964412.480 |
| Frances G. Rathke | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311903223.239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31800327.018 |
| **Non-Independent Trustees** |  |  |
| Andrew G. Arnott | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312916296.440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30787253.817 |
| Marianne Harrison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6309699822.026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34003728.231 |
| Paul Lorentz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312826931.728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30876618.529 |

---

**Proposal 2: To approve an amendment to the Declaration of Trust increasing the amount of time permitted between a record date and a shareholder meeting.**

THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6243364216.560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.419% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.460% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42739643.197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.674% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.667% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57599690.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.907% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.899% |

---

#### Proposal 3 : To approve an amendment to the Declaration of Trust modifying certain amendment filing requirements.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6232979077.490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.255% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.298% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44982081.873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.709% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.702% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65742390.894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.036% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.026% |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

---

| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Hassell H. McClellan, Born: 1945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2005** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee and Chairperson of the Board* |  |  |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| **James R. Boyle, Born: 1959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2015** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| **William H. Cunningham,<sup>2</sup> Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *Trustee* |  |  |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| **Noni L. Ellison,<sup>\*</sup> Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Grace K. Fey, Born: 1946** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee* |  |  |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Dean C. Garfield,<sup>\*</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Deborah C. Jackson, Born: 1952** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**185** |
| *Trustee* |  |  |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Patricia Lizarraga,<sup>2,\*</sup> Born: 1966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Steven R. Pruchansky, Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee and Vice Chairperson of the Board* |  |  |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

---

| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES (continued)** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Frances G. Rathke,<sup>2</sup> Born: 1960** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
| **Gregory A. Russo, Born: 1949** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |

---

---

| | | |
|:---|:---|:---|
| **NON-INDEPENDENT TRUSTEES<sup>3</sup>** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Andrew G. Arnott, Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2017** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *President and Non-Independent Trustee* |  |  |
| Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| **Marianne Harrison, Born: 1963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| **Paul Lorentz,<sup>†</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |

---

---

| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Charles A. Rizzo, Born: 1957** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2007** |
| *Chief Financial Officer* |  |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). | Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| **Salvatore Schiavone, Born: 1965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** |
| *Treasurer* |  |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

---

| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES (continued)** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Christopher (Kit) Sechler, Born: 1973** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** |
| *Secretary and Chief Legal Officer* |  |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| **Trevor Swanberg, Born: 1979** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** |
| *Chief Compliance Officer* |  |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). | Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |

---

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-344-1029.

---

| | |
|:---|:---|
| <sup>1</sup> | Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| <sup>2</sup> | Member of the Audit Committee. |
| <sup>3</sup> | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| <sup>\*</sup> | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| <sup>†</sup> | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |

---

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[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

## John Hancock Variable Insurance Trust

#### For more information

------

The Statement of Additional Information, a separate document with supplemental information not contained in the prospectus, includes additional information on the Board of Trustees and can be obtained without charge by calling 800-344-1029 or on the Securities and Exchange Commission (SEC) website at www.sec.gov.

**PROXY VOTING POLICY A description of the trust's proxy voting policies and procedures and information regarding how the trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available without charge, upon request, by calling 800-344-1029 or on the SEC website at www.sec.gov.**

**QUARTERLY PORTFOLIO DISCLOSURE All of each fund's holdings as of the end of the third month of every ﬁscal quarter are ﬁled with the SEC on Form N-PORT within 60 days of the end of the ﬁscal quarter. Each fund's Form N-PORT filings are available on the SEC's website, www.sec.gov.**

The report is certiﬁed under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to afﬁrm that, to the best of their knowledge, the information in their ﬁnancial reports is fairly and accurately stated in all material respects.

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

------

[**Table of Contents**](#JOB_JHVIT_563e0c96-86a2-4a19-8c4b-f6e6659a5410_TOC)

![](imgd086bf041.gif)

Information Control Center

P.O. Box 772

Boston, MA 02117-0772

#### More information

#### Trustees
Hassell H. McClellan, *Chairperson* Steven R. Pruchansky, *Vice Chairperson* Andrew G. Arnott<sup>†</sup>

James R. Boyle

William H. Cunningham

<sup>\*</sup>Noni L. Ellison<sup>^</sup>

Grace K. Fey

Dean C. Garfield<sup>^</sup>

Marianne Harrison<sup>†</sup>

Deborah C. Jackson

Patricia Lizarraga

<sup>\*,^</sup>Paul Lorentz<sup>‡</sup>

Frances G. Rathke<sup>\*</sup>

Gregory A. Russo

#### Officers
Andrew G. Arnott, *President* Charles A. Rizzo, *Chief Financial Officer* Salvatore Schiavone, *Treasurer* Christopher (Kit) Sechler, *Secretary and Chief Legal Officer* Trevor Swanberg, *Chief Compliance Officer*

<sup>†</sup> Non-Independent Trustee <br> \* Member of the Audit Committee

<sup>^</sup> Elected to serve as Independent Trustee effective as of September 9, 2022.

<sup>‡</sup> Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

#### Investment advisor
John Hancock Variable Trust Advisers LLC

#### Principal distributor
John Hancock Distributors, LLC

JHT0A 12/31

2/23

1115015:1222

------

![](img6220bff11.gif)

![](imge5d5a7412.gif)

## JOHN HANCOCK

## Variable Insurance Trust

### Bond Trusts
Annual report

December 31, 2022

------

## John Hancock Variable Insurance Trust

#### Annual report — Table of contents

------

---

| | |
|:---|:---|
| **[Manager's commentary and portfolio performance](#xx_3e43911e-e699-488a-a280-be045d86c856_1)[(See below for each portfolio's page #)](#xx_3e43911e-e699-488a-a280-be045d86c856_1)<br>**  | **3** |
| **[Shareholder expense example](#xx_0f880841-8cff-4ab7-bfbb-7fa9e534a155_1)<br>**  | **15** |
| **[Summary](#xx_f3048755-3c93-4313-b4c7-6680fa1d8645_1) [Portfolio of investments](#xx_f3048755-3c93-4313-b4c7-6680fa1d8645_1)[(See below for each portfolio's page #)](#xx_f3048755-3c93-4313-b4c7-6680fa1d8645_1)<br>**  | **17** |
| **[Statements of assets and liabilities](#xx_1564a672-95ea-457e-bc1e-8db860cd827b_1)<br>**  | **50** |
| **[Statements of operations](#xx_c3047146-6e07-4cfa-8414-f1d26e6c0e83_1)<br>**  | **53** |
| **[Statements of changes in net assets](#xx_1e029574-0bae-4c0a-9aff-82eadef5a94c_1)<br>**  | **56** |
| **[Financial highlights](#xx_a4212e17-2947-4dec-b809-092cd97d1dbf_1)<br>**  | **58** |
| **[Notes to financial statements](#xx_54098557-2c60-4028-bdc0-51efd6366b80_1)<br>**  | **64** |
| **[Report of independent registered public accounting firm](#xx_cdfc6813-03df-428f-bcb3-5b18ec935084_1)<br>**  | **87** |
| **[Special shareholder meeting](#xx_1f36c40a-0956-4790-a19c-e96ec2a1304f_1)<br>**  | **88** |
| **[Trustees and officers information](#xx_5be68e9b-e3bd-45bd-b50b-334bc0792876_1)<br>**  | **89** |
| **[For more information](#xx_abaeabac-3649-4134-afbb-a5609a7e3757_1)<br>**  | **92** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Summary Portfolio of investments** |
| [Active Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_1) | [Active Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_1) | 4 | 17 |
| [Core Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_2) | [Core Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_2) | 5 | 19 |
| [High Yield Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_3) | [High Yield Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_3) | 6 | 20 |
| [Investment Quality Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_4) | [Investment Quality Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_4) | 7 | 23 |
| [Money Market Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_5) | [Money Market Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_5) | 8 | 26 |
| [Opportunistic Fixed Income Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_6) | [Opportunistic Fixed Income Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_6) | 9 | 27 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Summary Portfolio of investments** |
| [Select Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_7) | [Select Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_7) | 10 | 36 |
| [Short Term Government Income Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_8) | [Short Term Government Income Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_8) | 11 | 38 |
| [Strategic Income Opportunities Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_9) | [Strategic Income Opportunities Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_9) | 12 | 39 |
| [Total Bond Market Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_10) | [Total Bond Market Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_10) | 13 | 45 |
| [Ultra Short Term Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_11) | [Ultra Short Term Bond Trust](#xx_4ee897af-573b-424d-93fa-881179a2c556_11) | 14 | 46 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Manager's commentary and portfolio performance

------

#### Trust performance
In the following pages, we have set forth information regarding the performance of each fixed-income portfolio of John Hancock Variable Insurance Trust (the trust). There are several ways to evaluate a portfolio's historical performance. One can look at the total percentage change in value, the average annual percentage change, or the growth of a hypothetical $10,000 investment. With respect to all performance information presented, it is important to understand that past performance does not guarantee future results. Return and principal fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

#### Performance tables
The performance tables show two types of total return information: cumulative and average annual total returns. A cumulative total return includes dividend reinvestments and is an expression of a portfolio's total change in share value in percentage terms over a set period of time—one, five, and ten years (or since the portfolio's inception if less than the applicable period). An average annual total return takes the portfolio's cumulative total return for a time period greater than one year and shows what the annual return would have been if the portfolio had performed at a constant rate each year. The tables show all cumulative and average annual total returns, net of fees and expenses of the trust, but do not reflect the insurance (separate account) expenses (including a possible contingent deferred sales charge) of the variable annuity and variable life products that invest in the trust. If these were included, performance would be lower.

#### Graph—change in value of $10,000 investment and comparative indexes
The performance graph for each portfolio shows the change in value of a $10,000 investment over the life or 10-year period

of each portfolio, whichever is shorter. Each portfolio's performance is compared with the performance of one or more broad-based security indexes as a benchmark. All performance information includes the reinvestment of dividends and capital gain distributions, as well as the deduction of ongoing management fees and portfolio operating expenses. The benchmarks used for comparison are unmanaged and include reinvestment of dividends and capital gains distributions, if any, but do not reflect any fees or expenses. Portfolios that invest in multiple asset classes are also compared with a customized benchmark. This benchmark comprises a set percentage allocation from each of the asset classes in which the portfolio invests.

#### Portfolio managers' commentary
Finally, we have provided a commentary by the portfolio managers regarding each portfolio's performance during the year ended December 31, 2022. The views expressed are those of the portfolio managers as of December 31, 2022, and are subject to change based on market and other conditions. Information about a portfolio's holdings, asset allocation, or country diversification is historical and is no indication of future portfolio composition, which may vary. Please note that the holdings discussed in each portfolio manager's commentary may not have been held by a portfolio for the entire period. Information provided in this report should not be considered a recommendation to purchase or sell securities. The portfolios are not insured by the Federal Deposit Insurance Corporation, are not deposits or other obligations of, or guaranteed by, banks and are subject to investment risks, including loss of the principal amount invested. For a more detailed discussion of the risks associated with the portfolios, see the trust's prospectus.

#### Notes about risk
The portfolios may be subject to various risks as described in the portfolios' prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures,which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect portfolio performance. For more information, please refer to the "Principal risks" section of the prospectus.

Standard & Poor's, Standard & Poor's 500, and S&P 500, are trademarks of The McGraw-Hill Companies, Inc. Bloomberg is a registered trademark of Bloomberg LP. None of the portfolios are sponsored, endorsed, managed, advised, sold, or promoted by any of these companies, and none of these companies makes any representation regarding the advisability of investing in a portfolio.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Active Bond Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: David A. Bees, CFA, Peter Farley, CFA, Jeffrey N. Given, CFA, Howard C. Greene, CFA, Connor Minnaar, CFA, Pranay Sonalkar

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks income and capital appreciation, by investing at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified mix of debt securities and instruments, including mortgage-backed securities. The trust seeks an average duration of plus or minus one year of its benchmark, however, there is no limit on average maturity.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imge68270c93.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Corporate bonds | 41.5 |
| U.S. Government Agency | 23.5 |
| U.S. Government | 15.2 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;9.4 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;6.6 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.7 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.6 |
| Capital preferred securities | &nbsp;&nbsp;&nbsp;0.2 |
| Term loans | &nbsp;&nbsp;&nbsp;0.1 |
| Preferred securities | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.1 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Active Bond Trust Series I shares declined 13.85% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.
**Environment ► In 2022, the U.S. bond market experienced its worst calendar-year performance in decades. The key factors included surging inflation and the efforts of the U.S. Federal Reserve (Fed) to curb the inflationary pressures. The 12-month U.S. inflation rate soared during the first half of the year, peaking in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year. The Fed responded with seven short-term interest rate increases—its first rate hikes since December 2018—which lifted the federal funds rate to 4.5%, its highest level in 15 years.**

In this environment, U.S. bond yields rose sharply, putting significant downward pressure on bond prices. Reflecting the Fed rate hikes, short-term bond yields rose the most, leading to an inverted yield curve (where short-term yields are higher than longer-term yields). Sector performance was broadly negative, with investment-grade corporate bonds posting the largest declines, while shorter-term sectors such as asset-backed securities and agency mortgage-backed securities held up the best.

The portfolio declined and trailed the return of its benchmark. Sector allocation was the most significant factor behind the portfolio's underperformance of the index. An out-of-index position in high-yield corporate bonds and an underweight position in U.S. Treasury securities detracted the most. Individual security selection was also a drag on performance.

Noteworthy detractors among the portfolio's corporate bond holdings included energy transportation and storage company Altera Infrastructure LP and cable operator Charter Communications, Inc. Leading contributors included high-yield corporate bonds issued by auto maker Ford Motor Company, airline operator American Airlines, Inc., and online streaming media company Netflix, Inc.

The portfolio's yield curve positioning had little impact on performance versus the index as it maintained a fairly neutral duration throughout the year.

We continue to position the portfolio defensively by reducing corporate credit exposure while taking advantage of relative values in residential mortgage-backed securities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Active Bond Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;1.21 | &nbsp;&nbsp;&nbsp;&nbsp;18.74 |
| Active Bond Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-14.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;16.35 |
| Active Bond Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;1.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.46 | &nbsp;&nbsp;&nbsp;&nbsp;19.33 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;0.67 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;0.66 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Core Bond Trust
Subadvisor: Allspring Global Investments, LLC

Portfolio Managers: Maulik Bhansali, CFA, Jarad Vasquez

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**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks total return consisting of income and capital appreciation, by investing at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities, and money market instruments.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](imgbae8ae224.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of total investments)** |  |
| U.S. Government Agency | 27.7 |
| U.S. Government | 27.1 |
| Corporate bonds | 22.9 |
| Asset backed securities | 11.2 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;9.2 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.8 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.3 |
| Short-term investments | &nbsp;&nbsp;&nbsp;0.8 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Core Bond Trust Series I shares declined 13.67% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.
**Environment ► Fixed income generated sharp negative returns during 2022 as the outlook for inflation and interest rates soared globally. With housing under pressure and softer consumer confidence and business spending, predictably the global economies stumbled in 2022 despite the green shoots of resurgent business demand, improving supply-chain bottlenecks and easing labor shortages and wage costs. Inflation expectations and interest**

rates have begun to recede toward the end of the period, but we anticipate a vigilant U.S. Federal Reserve who will maintain a pace of hikes and leave rates higher.

Rate volatility persisted throughout the year, along with an inversion of the U.S. yield curve during the middle of the year. With credit performing well fundamentally, and also with the asset class broadly benefiting technically from its international appeal, and as of period end, demand for U.S. credit has remained strong, particularly as credit spreads moved sharply wider during the year. As of period end, we see historically wide spreads in mortgage-backed

securities (MBS) and, to a lesser extent, in securitized product. Our enthusiasm for credit remains more tempered following firm performance during 2022 and more limited security-level price dispersion.

The portfolio posted a loss and underperformed its benchmark as the portfolio's returns reflect the expenses of managing the portfolio. Allocations in corporates and asset-backed securities were the most significant detractors. Positioning in MBS together with overall security selection were the most notable contributors to performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Core Bond Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.67 | &nbsp;&nbsp;&nbsp;&nbsp;-0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;-1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.35 |
| Core Bond Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.81 | &nbsp;&nbsp;&nbsp;&nbsp;-0.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;-1.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.20 |
| Core Bond Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.62 | &nbsp;&nbsp;&nbsp;&nbsp;-0.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;-0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.86 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;0.62 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;0.61 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## High Yield Trust
Subadvisor: Western Asset Management Company, LLC

Portfolio Managers: Michael C. Buchanan, Walter E. Kilcullen, S. Kenneth Leech

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to realize an above-average total return over a market cycle of three to five years, consistent with reasonable risk, by investing at least 80% of its net assets (plus any borrowings for investment purposes) at the time of investment in high-yield securities, including corporate bonds, preferred stocks, U.S. government and foreign securities, mortgage-backed securities, loan assignments or participations, and convertible securities.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img32170b015.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Corporate bonds | 82.9 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;6.9 |
| Term loans | &nbsp;&nbsp;&nbsp;4.6 |
| Convertible bonds | &nbsp;&nbsp;&nbsp;0.9 |
| Preferred securities | &nbsp;&nbsp;&nbsp;0.8 |
| Common stocks | &nbsp;&nbsp;&nbsp;0.5 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.3 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;3.1 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, High Yield Trust Series I shares declined 13.25% and the Bloomberg U.S. High Yield 2% Issuer Capped Index declined 11.18%.**

**Environment ► During 2022, bond yields soared and risk assets weakened as the U.S. Federal Reserve (Fed) and other central banks aggressively hiked interest rates to address rising global inflation pressures. Geopolitical risks came to the forefront with Russia's invasion of Ukraine in February. The imposition of financial and economic sanctions, including the freezing of the Russian central bank's external reserve assets, pushed oil prices past $100 per barrel and renewed concerns over global growth as much of the world was still recovering from economic disruptions brought on by recent COVID-19 variants in late 2021.**

As the year progressed, U.S. inflation pressure continued to rise and far exceeded market and Fed expectations. Price shocks were then exacerbated by the continuation of the Russian invasion of Ukraine, which put additional pressure on food and energy prices and the reinstatement of COVID-19 lockdowns in China further exacerbating supply chain pressures. The Fed had to dramatically shift course and continuously shift their rate hike expectations higher and higher throughout the year.

The fund posted a loss for the year and underperformed its benchmark. Issue selection was the largest detractor, led by issuer tilts within capital goods, consumer noncyclical, and energy. Industry allocation detracted from relative performance mainly due to an overweight to banking.

Quality allocation contributed to relative performance during the period largely driven by the overweight to single-B rated bonds and the opportunistic allocation to investment-grade debt, including collateralized loan obligations.

As of period end, high yield valuations remained attractive after a substantial rise in yields following the first quarter of 2022. Credit quality remained well above historical average, ability to service debt remained near decade high levels, and other fundamental measures remained supportive for relatively low default rates despite expectations of declining corporate profit growth. We continue to position for a reopening of trade and remain overweight in certain cyclical sectors.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| High Yield Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.25 | &nbsp;&nbsp;&nbsp;&nbsp;1.73 | &nbsp;&nbsp;&nbsp;&nbsp;3.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.97 | &nbsp;&nbsp;&nbsp;&nbsp;35.66 |
| High Yield Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.45 | &nbsp;&nbsp;&nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10 | &nbsp;&nbsp;&nbsp;&nbsp;32.98 |
| High Yield Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.40 | &nbsp;&nbsp;&nbsp;&nbsp;36.44 |
| Bloomberg U.S. High Yield 2% Issuer Capped Index | &nbsp;&nbsp;&nbsp;&nbsp;-11.18 | &nbsp;&nbsp;&nbsp;&nbsp;2.30 | &nbsp;&nbsp;&nbsp;&nbsp;4.03 | &nbsp;&nbsp;&nbsp;&nbsp;12.03 | &nbsp;&nbsp;&nbsp;&nbsp;48.39 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. High Yield 2% Issuer Capped Index tracks the performance of U.S. dollar-denominated, non-investment-grade, fixed-rate, taxable corporate bonds with exposure of each issuer capped at 2%.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;0.78 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.82 | &nbsp;&nbsp;&nbsp;1.02 | &nbsp;&nbsp;&nbsp;0.77 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Investment Quality Bond Trust
Subadvisor: Wellington Management Company LLP

Portfolio Managers: Robert D. Burn, CFA, Campe Goodman, CFA, Joseph F. Marvan, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to provide a high level of current income consistent with the maintenance of principal and liquidity, by investing at least 80% of its net assets (plus any borrowings for investment purposes) in bonds rated investment grade at the time of investment. The trust will tend to focus on corporate bonds and U.S. government bonds with intermediate to longer-term maturities.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img9c18e4596.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of total investments)** |  |
| U.S. Government Agency | 28.1 |
| U.S. Government | 24.2 |
| Corporate bonds | 20.0 |
| Collateralized mortgage obligations | 11.4 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;9.0 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;3.0 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;1.5 |
| Short-term investments | &nbsp;&nbsp;&nbsp;2.8 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Investment Quality Bond Trust Series I shares declined 14.88% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.**

**Environment ► Fixed-income markets experienced sharply negative total returns during the 12-month period. Global sovereign yields moved sharply higher as most major central banks supercharged their hiking cycles to deal with high inflation. The fourth quarter witnessed growing hopes of peak inflation, even as major central banks retained hawkish stances.**

Major central banks became increasingly hawkish and shifted to tighter policies as inflation proved more persistent than transitory and broadened out across more goods and services. The trailing 12-month period ended with below-consensus inflation results leading to optimism that major central banks could slow the pace of their tightening. The U.S. Federal Reserve (Fed) implemented several rate hikes during the period and signaled a higher-for-longer terminal rate. The European Central Bank (ECB) ended its quantitative easing purchases, followed suit with outsized rate increases, and announced the start of quantitative tightening in March 2023.

Global GDP growth diverged but showed some resilience over the period, though recession risks mounted. U.S. labor market strength persisted, and consumer spending remained solid, while the housing market showed some cracks following the sharp move higher in mortgage rates. Earlier in the period, euro area consumer confidence and economic activity took a hit from increasing economic uncertainty. Commodity prices surged following Russia's invasion of Ukraine and inflation rose to multi-decade highs across many countries, driven by strong demand but also plagued by supply chain disruptions and labor shortages. Sanctions imposed on Russia by the West raised concerns about Europe's energy security. By the end of the period eurozone consumer confidence began to recover, boosted by moderating energy prices. China's economic activity was hurt by the government's zero COVID-19 policy, ongoing property market decline, and geopolitical uncertainty.

The portfolio posted a loss and underperformed the benchmark. The portfolio's allocation to securitized sectors was the primary driver of relative underperformance, particularly exposure to non-agency residential mortgage-backed securities (MBS) as housing data softened over the period.

Positioning to agency MBS pass-throughs also detracted from results due to an increase in interest-rate volatility. Investment-grade credit positioning contributed favorably to relative performance, particularly within the industrials sector. The allocations to high-yield and bank loans detracted over the period as spreads widened. An allocation to Treasury Inflation Protected Securities (TIPS) contributed positively to performance as TIPS held up better than nominal U.S. Treasuries during the period. Select exposure to emerging-market debt hurt results. The portfolio's currency positioning had a negligible impact on results. Duration/yield curve positioning had a negative impact on returns.

Treasury futures, interest-rate options, and interest-rate swaps were used to manage the portfolio's duration/yield curve positioning. Currency forwards and futures were used to implement non-U.S. interest-rate and currency positions. Credit default swaps index positions were used to manage credit exposure and overall portfolio risk, and modestly helped performance.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Investment Quality Bond Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.88 | &nbsp;&nbsp;&nbsp;&nbsp;-0.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;-0.28 | &nbsp;&nbsp;&nbsp;&nbsp;11.61 |
| Investment Quality Bond Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.06 | &nbsp;&nbsp;&nbsp;&nbsp;-0.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;-1.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.39 |
| Investment Quality Bond Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.88 | &nbsp;&nbsp;&nbsp;&nbsp;-0.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.16 | &nbsp;&nbsp;&nbsp;&nbsp;-0.03 | &nbsp;&nbsp;&nbsp;&nbsp;12.21 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;0.69 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;0.93 | &nbsp;&nbsp;&nbsp;0.68 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Money Market Trust
Subadvisor: Manulife Investment Management (US) LLC

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INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to obtain maximum current income, consistent with preservation of principal and liquidity, by investing in cash, U.S. government securities and/or repurchase agreements that are fully collateralized by U.S. government securities or cash.

---

| | |
|:---|:---|
| **Portfolio Composition (% of total investments)** |  |
| U.S. Government Agency | 73.6 |
| Repurchase agreement | 21.8 |
| U.S. Government | &nbsp;&nbsp;&nbsp;4.6 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

**Environment ► In 2022, the U.S. bond market experienced its worst calendar-year performance in decades. The key factors included surging inflation and the efforts of the U.S. Federal Reserve (Fed) to curb the inflationary pressures. The 12-month U.S. inflation rate as measured by the Consumer Price Index (CPI) soared during the first half of the year, peaking in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year. The Fed responded with seven short-term interest rate increases—its first rate hikes since December 2018—which lifted the federal funds rate to 4.5%, its highest level in 15 years.**

In this environment, U.S. bond yields rose sharply, putting significant downward pressure on bond prices. Reflecting the Fed rate hikes, short-term bond yields rose the most, leading to an inverted yield curve (where short-term yields are higher than longer-term yields). Sector performance was broadly negative, with investment-grade corporate bonds posting the largest declines, while shorter-term sectors such as asset-backed securities held up the best.

The year started with a heavy focus on the inflation story as the Fed pivoted away from its transitory view. The Russian invasion of Ukraine added insult to injury, affecting energy supply and trade activities due to

sanctions, further complicating the global supply bottlenecks. The Fed was laser focused on getting ahead of the curve in its inflation narrative and moved away from its accommodative stance and towards policy tightening. It ended its bond buying program in March, followed by a highly communicated lift-off, where it raised the federal funds target rate by 25 basis points (bps), its first since 2018 and after two years of keeping rates zero bound to cushion the economic impact of the global pandemic.

The Fed cemented its focus on price stability over employment as inflation accelerated. It delivered larger than usual interest rate hikes for the second quarter of the year, including a well-anticipated 50 bps hike in May followed by a supersized 75 bps hike in June, a reaction to the previously referenced CPI peak in June. At the time, this move was the largest hike the market had seen in 28 years and marked the start of a string of 75 bps hikes for most of the year. The robust labor market also continued to embolden the Fed in its aggressive stance, consistently beating market estimates almost year-round, with the unemployment rate dropping to 3.5%, a level rarely seen in the past five-decades.

High inflation combined with sturdy job numbers kept the Fed in their hawkish rhetoric over the year,

resulting in the fastest interest rate hiking cycle the market has seen in recent history. We ended the year with a 50 bps hike bringing the fed funds rate into restrictive territory at 4.25–4.5%; the markets viewed this lower hike as the start of the end of the post-pandemic hiking cycle.

In line with the market backdrop of an aggressive Fed, we have stayed the course of running the portfolio short throughout the year, with weighted average maturity averaging at just 32 days. We optimally positioned the portfolio to capture rate increases as quickly as possible through a combination of maintaining a significant allocation in overnight repurchase agreements, remaining heavy with floating-rate securities which move in lockstep with the hikes, and preferring maturities between the dates of the Fed meetings to be reinvested as the rates reset. We actively managed the portfolio positioning, emphasizing liquidity, yield, and diversification. We expect money market funds to remain attractive in 2023 with the Fed's "higher for longer" stance which indicated it would hold rates steady until they hit a target inflation rate of 2%.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Opportunistic Fixed Income Trust
Subadvisor: Wellington Management Company LLP

Portfolio Managers: Brian M. Garvey, Brij S. Khurana

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks maximum total return, consistent with preservation of capital and prudent investment management. Under normal market conditions, the trust invests at least 80% of its net assets (plus any borrowings for investment purposes) in fixed-income instruments that may be denominated in foreign currencies or U.S. dollars, and may be represented by forwards or derivatives such as options, futures contracts or swap agreements.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img1ae0ba6e7.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of total investments)** |  |
| Foreign government obligations | 38.0 |
| Corporate bonds | 20.4 |
| U.S. Government Agency | 12.2 |
| U.S. Government | &nbsp;&nbsp;&nbsp;4.3 |
| Term loans | &nbsp;&nbsp;&nbsp;3.5 |
| Convertible bonds | &nbsp;&nbsp;&nbsp;3.4 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;3.3 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;2.9 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;2.9 |
| Exchange-traded funds | &nbsp;&nbsp;&nbsp;0.3 |
| Preferred securities | &nbsp;&nbsp;&nbsp;0.2 |
| Short-term investments | &nbsp;&nbsp;&nbsp;8.6 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, the Opportunistic Fixed Income Trust Series I shares declined 11.12% and the Bloomberg Global Aggregate Bond Index (USD Hedged) declined 11.22%.**

**Environment ► The first quarter of 2022 recorded one of the worst drawdowns in fixed-income markets owing to the shift to tighter monetary policies and uncertainty from the Russian invasion of Ukraine, followed by challenging second and third quarters amid continued rising government bond yields. The fourth quarter ended on a positive note as fixed-income markets recouped a portion of their losses from earlier in the year. Throughout most of the year spreads were volatile but finished wider amid concerns of tighter financial conditions resulting from less accommodative policy.**

The portfolio posted a loss but outperformed its benchmark. Our market neutral theme was the main positive contributor to total return. Within our strategic sector, emerging-market opportunities drove negative performance, as the Russian invasion of Ukraine, an aggressive hawkish shift by the U.S. Federal Reserve, and global growth concerns weighed on the sector. Within our tactical sector, duration positioning, foreign exchange trading, and credit hedging exposure drove negative performance.

Over the period, use of derivatives had mixed results with inflation swaps hurting performance, in contrast to bond futures and currency forwards which helped performance.

Over the period, we added more risk to our strategic sector by buying front-end U.S. rates vs. short

German 30yr bonds and Italian bonds, where we think markets are too anchored to historically low levels for European rates. We added to inflation-linked bonds particularly at the front-end of the curve. We do think that duration is attractive, but still prefer non-U.S. rates in countries such as New Zealand, Korea, Norway, and Sweden. We feel these duration markets should be more resilient than the U.S. in the next global downturn.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Opportunistic Fixed Income Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-11.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;3.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.20 |
| Opportunistic Fixed Income Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-11.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 | &nbsp;&nbsp;&nbsp;&nbsp;2.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.06 |
| Opportunistic Fixed Income Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-10.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;&nbsp;3.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.69 |
| Bloomberg Global Aggregate Bond USD Hedged Index | &nbsp;&nbsp;&nbsp;&nbsp;-11.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;18.34 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg Global Aggregate Bond USD Hedged Index tracks the performance of global investment-grade debt in fixed-rate treasury, government-related, corporate, and securitized bond markets. Currency exposure is hedged to the U.S. dollar (USD).

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;0.82 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;0.81 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Select Bond Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Jeffrey N. Given, CFA, Howard C. Greene, CFA, Connor Minnaar, CFA, Pranay Sonalkar

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks income and capital appreciation, by investing at least 80% of the trust's net assets (plus any borrowings for investment purposes) in a diversified mix of debt securities and instruments.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img89ef59358.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Corporate bonds | 30.5 |
| U.S. Government Agency | 29.3 |
| U.S. Government | 13.9 |
| Asset backed securities | 13.8 |
| Collateralized mortgage obligations | 10.6 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.9 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.9 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

#### Performance ► For the year ended December 31, 2022, Select Bond Trust Series I shares declined 14.20% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.
**Environment ► In 2022, the U.S. bond market experienced its worst calendar-year performance in decades. The key factors included surging inflation and the efforts of the U.S. Federal Reserve (Fed) to curb the inflationary pressures. The 12-month U.S. inflation rate soared during the first half of the year, peaking in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year. The Fed responded with seven short-term interest-rate increases—its first rate hikes since December 2018—which lifted the federal funds rate to 4.5%, its highest level in 15 years.**

In this environment, U.S. bond yields rose sharply, putting significant downward pressure on bond prices. Reflecting the Fed rate hikes, short-term bond

yields rose the most, leading to an inverted yield curve (where short-term yields are higher than longer-term yields). Among investment-grade bonds, corporate bonds posted the largest declines, while shorter-term sectors such as asset-backed securities held up the best.

The portfolio declined in 2022 and trailed the return of its benchmark. Sector allocation was a significant factor in the porfolio's underperformance. An underweight position in U.S. Treasury securities and out-of-index positions in non-government-agency residential mortgage-backed securities detracted the most. On the positive side, the strategy's overweight position in asset-backed securities added value during the year but security selection offset the positive impact to the portfolio's relative performance.

Individual security selection was also a factor behind the portfolio's underperformance of the index. Noteworthy detractors among the strategy's

corporate bond holdings included bonds issued by cable operator Charter Communications, Inc., medical outpatient services provider Fresenius Medical Care AG & Company, and pharmaceutical firm Viatris, Inc. Leading contributors included bonds issued by the three major airline operators—Delta Air Lines, Inc., American Airlines, Inc., and United Airlines, Inc.

The strategy's yield curve positioning had little impact on relative performance in 2022 as the strategy maintained a fairly neutral duration compared with the index throughout the year.

We positioned the portfolio defensively by reducing corporate credit exposure while taking advantage of relative values in residential mortgage-backed securities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Select Bond Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;11.84 |
| Select Bond Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-14.38 | &nbsp;&nbsp;&nbsp;&nbsp;-0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;-0.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.60 |
| Select Bond Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;12.40 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;0.85 | &nbsp;&nbsp;&nbsp;0.60 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;0.84 | &nbsp;&nbsp;&nbsp;0.59 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Short Term Government Income Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Jeffrey N. Given, CFA, Howard C. Greene, CFA, Connor Minnaar, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a high level of current income consistent with preservation of capital, by investing at least 80% of its net assets in obligations issued or guaranteed by the U.S. government and its agencies, authorities, or instrumentalities (U.S. government securities). Under normal circumstances, the trust's effective duration is no more than three years. Maintaining a stable share price is a secondary goal.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img3310f72a9.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| U.S. Government Agency | 67.6 |
| U.S. Government | 26.0 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;4.7 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;0.8 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;0.9 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Short Term Government Income Trust Series I shares declined 6.48% and the Bloomberg U.S. Government 1-5 Year Bond Index declined 5.46%.**

**Environment ► Short-term U.S. government bonds declined sharply in 2022 as the U.S. bond market experienced its worst calendar-year performance in decades. The key factors included surging inflation and the efforts of the U.S. Federal Reserve (Fed) to curb the inflationary pressures. The 12-month U.S. inflation rate soared during the first half of the year, peaking in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year.**

The Fed responded with seven short-term interest rate increases—its first rate hikes since December 2018—which lifted the federal funds rate to 4.5%, its highest level in 15 years. The Fed also made it clear that restoring price stability was its primary goal,

and that the Fed would do whatever was necessary to bring inflation down to its target level—even at the expense of a sustained period of below-trend economic growth.

In this environment, U.S. bond yields rose substantially, putting significant downward pressure on bond prices. Reflecting the Fed rate hikes, short-term bond yields rose the most. Nonetheless, short-term bonds held up better than longer-term securities on a total return basis for the year.

The portfolio declined and underperformed its benchmark. Sector allocation was one factor behind the underperformance, particularly an overweight position in U.S. government agency securities and out-of-index positions in residential mortgage-backed securities. Individual security selection also detracted from relative performance during the year, primarily among holdings of U.S. government agency securities.

On the positive side, the strategy's yield curve positioning had a positive impact on relative performance versus the index. The portfolio's duration was shorter than that of the index throughout the year, which limited price declines as short-term bond yields rose.

After the bond market's historic downturn in 2022, we see better things ahead for fixed income in the coming year. We believe the Fed is likely to reach the end of its interest-rate-hike cycle in the first half of 2023, but we could see rates remain high through the end of the year. We would view this as a welcome outcome, as the fixed-income market would remain attractively valued as an asset class, creating investment opportunities for the portfolio.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Short Term Government Income Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-6.48 | &nbsp;&nbsp;&nbsp;&nbsp;-0.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;-0.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45 |
| Short Term Government Income Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-6.67 | &nbsp;&nbsp;&nbsp;&nbsp;-0.32 | &nbsp;&nbsp;&nbsp;&nbsp;-0.06 | &nbsp;&nbsp;&nbsp;&nbsp;-1.59 | &nbsp;&nbsp;&nbsp;&nbsp;-0.55 |
| Short Term Government Income Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-6.43 | &nbsp;&nbsp;&nbsp;&nbsp;-0.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;-0.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.04 |
| Bloomberg U.S. Government 1-5 Year Index | &nbsp;&nbsp;&nbsp;&nbsp;-5.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.03 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Government 1-5 Year Index tracks the performance of U.S. Treasury and government agency bonds that have maturities between one and five years.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;0.65 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.69 | &nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp;0.64 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Strategic Income Opportunities Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Christopher M. Chapman, CFA, Thomas C. Goggins, Daniel S. Janis, III, Bradley L. Lutz, CFA, Kisoo Park. Effective March 15, 2023, Daniel S. Janis III will be retiring as a portfolio manager of the fund.

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a high level of current income by investing primarily in the following types of securities: foreign government and corporate debt securities from developed and emerging markets, U.S. government and agency securities, and high-yield bonds. The trust may also invest in other types of debt securities and preferred stocks.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img96f74b8810.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Corporate bonds | 48.5 |
| Foreign government obligations | 22.4 |
| U.S. Government | &nbsp;&nbsp;&nbsp;9.6 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;5.4 |
| U.S. Government Agency | &nbsp;&nbsp;&nbsp;3.5 |
| Preferred securities | &nbsp;&nbsp;&nbsp;3.0 |
| Convertible bonds | &nbsp;&nbsp;&nbsp;2.4 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;1.5 |
| Term loans | &nbsp;&nbsp;&nbsp;0.9 |
| Common stocks | &nbsp;&nbsp;&nbsp;0.4 |
| Capital preferred securities | &nbsp;&nbsp;&nbsp;0.1 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;2.3 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Strategic Income Opportunities Trust Series I shares declined 10.06% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.**

**Environment ► Global fixed-income markets experienced a historically severe downturn in 2022. The key factors included surging global inflation and efforts of the world's central banks to curb the inflationary pressures. Inflation soared around the globe—including a 40-year high in the U.S. inflation rate and an all-time inflationary high in the eurozone—and remained elevated throughout the year. Many of the world's central banks responded by raising short-term interest rates aggressively to head off inflation. By the end of 2022, benchmark interest rates in many regions of the world had reached their highest levels in more than a decade.**

In this environment, global bond yields rose sharply, putting significant downward pressure on bond prices. Short-term bond yields rose the most, reflecting the central bank rate hikes. On a regional basis, North American bond markets held up the

best, while European markets declined the most. From a sector perspective, high-yield corporate bonds fared the best, while government securities lagged.

The portfolio posted a loss but outperformed its benchmark. Duration and curve positioning was the largest contributor to relative performance as yields generally moved higher across developed market economies and our shorter duration profile helped. Currency management was also a contributor due primarily to underweight exposure to the euro, Japanese yen and Chinese renminbi which all depreciated against the U.S. dollar over the period. Security selection was positive on gains from relative positioning within our emerging-market (EM) government bond and high yield corporate bond allocation. Sector allocation was a detractor, led by overweight allocations to high-yield credit, convertibles, and equities combined with underweights to U.S. Treasuries. Derivatives had a small positive impact to performance and were used to manage duration and currency exposure of the portfolio.

Risks to global economic growth remain elevated. Over the medium-term, amidst rising uncertainty and a more challenging economic backdrop, we believe it's important to strike a balance between yield/risk and quality, stability, and liquidity.

We continue to actively manage portfolio duration, focusing on diversification across global yield curves while keeping duration above neutral. We will continue to adjust interest rate exposures dependent upon incoming economic data, changes to central bank policies and/or geopolitical risks. From a sector perspective, we continue to find opportunities in corporate credit, however, recognize that quality, industry, and issuer selection are more important factors today than they were earlier in the credit cycle. We will actively manage currency exposures and balance the longer-term cyclical opportunities with the risk of continued headline-driven volatility.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Strategic Income Opportunities Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-10.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;2.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;&nbsp;27.20 |
| Strategic Income Opportunities Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-10.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;&nbsp;2.67 | &nbsp;&nbsp;&nbsp;&nbsp;24.62 |
| Strategic Income Opportunities Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-10.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;&nbsp;&nbsp;27.72 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;0.71 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;0.70 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Total Bond Market Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Manager: Peter M. Farley, CFA

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks to track the performance of the Bloomberg U.S. Aggregate Bond Index by investing at least 80% of its net assets (plus any borrowings for investment purposes) in securities listed in this index.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img56bf1b1a11.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| U.S. Government | 40.7 |
| U.S. Government Agency | 29.0 |
| Corporate bonds | 25.6 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;2.1 |
| Foreign government obligations | &nbsp;&nbsp;&nbsp;0.7 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.4 |
| Asset backed securities | &nbsp;&nbsp;&nbsp;0.2 |
| Short-term investments and other | &nbsp;&nbsp;&nbsp;1.3 |

---

#### PORTFOLIO MANAGER'S COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Total Bond Market Trust Series I shares declined 13.49% and the Bloomberg U.S. Aggregate Bond Index declined 13.01%.**

**Environment ► In 2022, the U.S. bond market experienced its worst calendar-year performance in decades as bond yields rose substantially. The key catalysts included surging inflation and the efforts of the U.S. Federal Reserve (Fed) to curb the inflationary pressures. U.S. inflation soared during the first half of the year, driven largely by rising food and energy prices that were exacerbated by Russia's invasion of Ukraine in February. The 12-month inflation rate peaked in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year.**

The Fed responded by raising short-term interest rates in March—its first rate hike since December 2018—and continuing with six more rate hikes over the balance of the year. The Fed's aggressive actions lifted the federal funds rate target to 4.5%, its highest level in 15 years. The Fed also made it clear that restoring price stability was its primary goal, and that it would do whatever was necessary to bring

inflation down to its target level—even at the expense of a sustained period of below-trend economic growth.

In this environment, U.S. bond yields rose sharply, putting significant downward pressure on bond prices. Reflecting the Fed rate hikes, short-term bond yields rose the most, but longer-term bond yields also increased meaningfully. The end result was an inverted yield curve, which is when short-term yields are higher than longer-term yields. Historically, an inverted yield curve has been a precursor of recession.

Sector performance in the bond market was broadly negative for the year. Among investment-grade bonds, corporate bonds and U.S. Treasury securities, which tend to have the greatest interest rate sensitivity, posted the largest declines. Shorter-term sectors such as asset-backed securities held up the best.

The portfolio underperformed its benchmark as the portfolio's returns reflect the expenses of managing the portfolio. Individual security selection contributed positively to performance versus the index. Leading

contributors among the strategy's corporate bond holdings included energy producer Anadarko Petroleum Corp., auto maker Ford Motor Company, and restaurant operator Brinker International, Inc. Noteworthy detractors included bonds issued by property and casualty insurer Liberty Mutual Group, Inc. and industrial machinery manufacturer Ingersoll Rand, Inc.

The strategy's yield curve positioning detracted from relative performance in 2022. The strategy maintained a neutral duration compared with the index, but a suboptimal maturity structure weighed on performance. Sector allocation had a small negative impact on performance versus the index for the year.

After the bond market's historic downturn in 2022, we see better things ahead for fixed income in the coming year. We believe the Fed is likely to reach the end of its rate-hike cycle in the first half of 2023, but we could see rates remain high through the end of the year. We have positioned the portfolio defensively by reducing corporate credit exposure while taking advantage of relative values in residential mortgage-backed securities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Total Bond Market Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-13.49 | &nbsp;&nbsp;&nbsp;&nbsp;-0.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;-1.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.84 |
| Total Bond Market Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-13.58 | &nbsp;&nbsp;&nbsp;&nbsp;-0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.56 | &nbsp;&nbsp;&nbsp;&nbsp;-2.59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70 |
| Total Bond Market Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-13.36 | &nbsp;&nbsp;&nbsp;&nbsp;-0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;-1.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.39 |
| Bloomberg U.S. Aggregate Bond Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;11.08 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until April 30, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.53 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;0.26 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## Ultra Short Term Bond Trust
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Jeffrey N. Given, CFA, Howard C. Greene, CFA, Connor Minnaar, CFA, Pranay Sonalkar

------

**INVESTMENT OBJECTIVE & POLICIES ► The trust seeks a high level of current income consistent with the maintenance of liquidity and the preservation of capital, by investing at least 80% of its net assets in a diversified portfolio of domestic, investment-grade debt securities. Debt securities may be issued by governments, companies, or special purpose entities and may include notes, discount notes, bonds, debentures, commercial paper, repurchase agreements, mortgage-backed and other asset-backed securities and assignments, participations and other interests in bank loans. The trust may also invest in cash and cash equivalents.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
![](img59a7be0112.jpg)

---

| | |
|:---|:---|
| **Portfolio Composition (% of net assets)** |  |
| Corporate bonds | 54.0 |
| Asset backed securities | 16.9 |
| Municipal bonds | &nbsp;&nbsp;&nbsp;0.7 |
| U.S. Government Agency | &nbsp;&nbsp;&nbsp;0.7 |
| Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;0.4 |
| Short-term investments and other | 27.3 |

---

#### PORTFOLIO MANAGERS' COMMENTARY

------

**Performance ► For the year ended December 31, 2022, Ultra Short Term Bond Trust Series I shares declined 0.84% and the ICE Bank of America 6-Month U.S. Treasury Bill Index returned 1.34%.**

**Environment ► U.S. bonds maturing in less than one year posted positive returns in 2022 despite a substantial rise in short-term interest rates during the year. The 12-month U.S. inflation rate soared during the first half of the year, peaking in June at a 40-year high of 9.1% before falling back, but it remained elevated throughout the year. The U.S. Federal Reserve (Fed) responded with seven short-term interest rate increases—its first rate hikes since December 2018—which lifted the federal funds rate to 4.5%, its highest level in 15 years. The Fed also made it clear that restoring price stability was its primary goal, and that it would do whatever was necessary to bring inflation down to its target level—even at the expense of a sustained period of below-trend economic growth.**

The Fed rate hikes pushed the short-term bond yields sharply higher during the year, putting downward pressure on bond prices. However, the limited interest-rate sensitivity of bonds maturing in less than a year meant that interest income outpaced the price declines, resulting in positive overall returns.

The portfolio declined, trailing the positive performance of its benchmark. The key factor behind the underperformance was an emphasis on securities with relatively longer maturities. Although these longer-maturity securities produced a higher level of income, this was more than offset by the price declines they experienced as bond yields rose significantly.

Sector allocation was also a drag on portfolio performance compared with the index. Positions in short-term corporate bonds and asset-backed securities, which together comprised approximately 70% of the portfolio on average during the year, weighed on performance as both sectors underperformed the index for the year.

Among individual securities, noteworthy detractors included online retailer Amazon.com, Inc. and financial services provider Citigroup, Inc. Leading contributors included bonds issued by financial services provider Wells Fargo & Company, and media and entertainment company Warnermedia Holdings, Inc.

We believe the Fed is likely to reach the end of its rate-hike cycle in the first half of 2023, but we could see rates remain high through the end of the year. We would view this as a welcome outcome, as the fixed-income market would remain attractively valued as an asset class, creating investment opportunities for the fund. Within the portfolio, we remain focused on the higher-yielding segments of the short-term bond market, which continue to offer attractive yields and total return potential.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Ultra Short Term Bond Trust Series I | &nbsp;&nbsp;&nbsp;&nbsp;-0.84 | &nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;4.71 | &nbsp;&nbsp;&nbsp;&nbsp;5.82 |
| Ultra Short Term Bond Trust Series II | &nbsp;&nbsp;&nbsp;&nbsp;-1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;3.74 |
| Ultra Short Term Bond Trust Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;4.97 | &nbsp;&nbsp;&nbsp;&nbsp;6.35 |
| ICE BofA 6-Month U.S. Treasury Bill Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34 | &nbsp;&nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.91 | &nbsp;&nbsp;&nbsp;&nbsp;7.14 | &nbsp;&nbsp;&nbsp;&nbsp;9.45 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

The Intercontinental Exchange (ICE) Bank of America (BofA) 6-Month U.S. Treasury Bill Index is an unmanaged index that seeks to measure the performance of outstanding U.S. Treasury bills that mature closest to, but not beyond, six months from the rebalancing date.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;0.62 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;0.61 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

As a shareholder of a portfolio of John Hancock Variable Insurance Trust, you incur ongoing costs, such as management fees, distribution (Rule 12b-1) fees and other expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (July 1, 2022 through December 31, 2022).

#### Actual expenses:
The first line of each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses paid during period ended" to estimate the expenses you paid on your account during this period.

#### Hypothetical example for comparison purposes:
The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs and insurance-related charges. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$975.10 | &nbsp;&nbsp;&nbsp;&nbsp;$3.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.91% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.91% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29 | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;&nbsp;0.66% |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$969.00 | &nbsp;&nbsp;&nbsp;&nbsp;$3.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.68% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.68% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.88% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.63% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.63% |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1026.30 | &nbsp;&nbsp;&nbsp;&nbsp;$4.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.86% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.86% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.42 | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40 | &nbsp;&nbsp;&nbsp;&nbsp;1.06% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$972.10 | &nbsp;&nbsp;&nbsp;&nbsp;$3.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.76% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89 | &nbsp;&nbsp;&nbsp;&nbsp;0.96% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.71% |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio** |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1012.40 | &nbsp;&nbsp;&nbsp;&nbsp;$1.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.33% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp;0.33% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp;&nbsp;&nbsp;0.67% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;0.28% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.28% |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1041.00 | &nbsp;&nbsp;&nbsp;&nbsp;$4.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.82% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.82% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24 | &nbsp;&nbsp;&nbsp;&nbsp;1.02% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.02% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.77% |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$967.70 | &nbsp;&nbsp;&nbsp;&nbsp;$3.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.62% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.62% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.82% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.82% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.58% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.58% |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$980.60 | &nbsp;&nbsp;&nbsp;&nbsp;$3.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.73% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.92% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69 | &nbsp;&nbsp;&nbsp;&nbsp;0.92% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp;&nbsp;&nbsp;0.68% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.68% |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1009.00 | &nbsp;&nbsp;&nbsp;&nbsp;$4.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.79% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02 | &nbsp;&nbsp;&nbsp;&nbsp;0.79% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.99% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.99% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.74% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77 | &nbsp;&nbsp;&nbsp;&nbsp;0.74% |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$966.90 | &nbsp;&nbsp;&nbsp;&nbsp;$1.49 | &nbsp;&nbsp;&nbsp;&nbsp;0.30% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53 | &nbsp;&nbsp;&nbsp;&nbsp;0.30% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55 | &nbsp;&nbsp;&nbsp;&nbsp;0.50% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.25% |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1005.90 | &nbsp;&nbsp;&nbsp;&nbsp;$3.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.61% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.61% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005.70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.81% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.56% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85 | &nbsp;&nbsp;&nbsp;&nbsp;0.56% |

---

<sup>1</sup> Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

This section shows the portfolios' 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the portfolios' total net assets as of the report date. The remaining securities held by the portfolios are grouped as "Other Securities" in each category. Certain percentages of less than 0.05% are rounded and presented as 0.0%. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by calling at 1-800-344-1029. This complete schedule, filed on the portfolios' Form N-CSR, is also available on the SEC's website at http://www.sec.gov.

#### Active Bond Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 38.7%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 38.7%** |  |  |
| **U.S. Treasury Bonds - 9.8%** | **U.S. Treasury Bonds - 9.8%** |  |  |
| 1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076328 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| 1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867500 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| 1.875%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240781 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 2.000%, 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964297 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 2.250%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255273 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7566000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5696075 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 3.000%, 02/15/2047<br> to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22501527 | &nbsp;&nbsp;&nbsp;&nbsp;4.1% |
| 3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4253356 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 4.000%, 11/15/2042<br> to 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7867758 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53722895 |  |
| **U.S. Treasury Notes - 5.4%** | **U.S. Treasury Notes - 5.4%** |  |  |
| 1.125%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445117 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 1.375%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255625 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522930 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.375%, 05/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593828 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 2.875%, 08/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6591758 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 3.875%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774742 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 4.125%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305417 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015206 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29504623 |  |
| **Federal Home Loan Mortgage Corp. - 5.2%** | **Federal Home Loan Mortgage Corp. - 5.2%** |  |  |
| 2.500%, 08/01/2051<br> to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563026 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| 3.000%, 03/01/2043<br> to 12/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4791739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318027 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 3.500%, 10/01/2046<br> to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12786977 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| 4.500%, 09/01/2023<br> to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4494664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4397224 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 5.000%, 10/01/2052<br> to 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2482238 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 5.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365074 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500293 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28412859 |  |
| **Federal National Mortgage Association - 18.1%** | **Federal National Mortgage Association - 18.1%** |  |  |
| 2.000%, 10/01/2050<br> to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281379 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 2.500%, 08/01/2051<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8032731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6861776 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 3.000%, 01/01/2043<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29952068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26667410 | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
| 3.500%, 06/01/2042<br> to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21186766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19561504 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| 4.000%, 10/01/2025<br> to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23434457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22283307 | &nbsp;&nbsp;&nbsp;&nbsp;4.2% |
| 4.500%, 11/01/2037<br> to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9089829 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| 4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252420 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| 5.000%, 12/01/2034<br> to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3853564 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |

---

#### Active Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **Federal National Mortgage<br> Association (continued)** | **Federal National Mortgage<br> Association (continued)** |  |  |
| 5.500%, 09/01/2034<br> to 11/01/2052 | 2665371 | $&nbsp;&nbsp;&nbsp;&nbsp;2712882 | 0.5% |
| 5.500%, 12/01/2052<br> to 12/01/2052 (A) | 2608534 | &nbsp;&nbsp;&nbsp;&nbsp;2646834 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;2517338 | 0.3% |
|  |  | &nbsp;&nbsp;&nbsp;99728243 |  |
| **Government National Mortgage<br> Association - 0.2%** | **Government National Mortgage<br> Association - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;1024043 | 0.2% |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $231,096,898) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $231,096,898) | $212392663 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.7%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.7%** |  |  |
| **Argentina - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169240 | 0.1% |
| **Germany - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959550 | 0.2% |
| **Mexico - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593667 | 0.1% |
| **Panama - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549524 | 0.1% |
| **Qatar - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573015 | 0.1% |
| **Saudi Arabia - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593187 | 0.1% |
| **United Kingdom - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115290 | 0.0% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $4,249,047) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $4,249,047) | $&nbsp;&nbsp;&nbsp;&nbsp;3553473 |  |
| **CORPORATE BONDS - 41.5%** | **CORPORATE BONDS - 41.5%** |  |  |
| **Communication services - 3.9%** | **Communication services - 3.9%** |  |  |
| Verizon Communications, Inc.<br> 4.272%, 01/15/2036 | 1311000 | &nbsp;&nbsp;&nbsp;&nbsp;1167032 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;20391778 | 3.7% |
|  |  | &nbsp;&nbsp;&nbsp;21558810 |  |
| **Consumer discretionary - 4.3%** | **Consumer discretionary - 4.3%** |  |  |
| Expedia Group, Inc.<br> 5.000%, 02/15/2026 | 1090000 | &nbsp;&nbsp;&nbsp;&nbsp;1075610 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;22521587 | 4.1% |
|  |  | &nbsp;&nbsp;&nbsp;23597197 |  |
| **Consumer staples - 1.8%** | **Consumer staples - 1.8%** |  |  |
| Sysco Corp.<br> 6.600%, 04/01/2050 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1089902 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;8520160 | 1.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9610062 |  |
| **Energy - 4.6%** | **Energy - 4.6%** |  |  |
| Cameron International Corp.<br> 5.950%, 06/01/2041 | 1178000 | &nbsp;&nbsp;&nbsp;&nbsp;1055982 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;24370396 | 4.4% |
|  |  | &nbsp;&nbsp;&nbsp;25426378 |  |
| **Financials - 9.8%** | **Financials - 9.8%** |  |  |
| Citigroup, Inc.<br> 3.500%, 05/15/2023 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;1054882 | 0.2% |
| JPMorgan Chase & Co.<br> 3.375%, 05/01/2023 | 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1244123 | 0.2% |
| Markel Corp.<br> 5.000%, 03/30/2043 | 1270000 | &nbsp;&nbsp;&nbsp;&nbsp;1081532 | 0.2% |
| Morgan Stanley<br> 2.484%, (2.484% to 9-16-31, then SOFR + 1.360%), 09/16/2036 | 1659000 | &nbsp;&nbsp;&nbsp;&nbsp;1202993 | 0.2% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| Nationwide Mutual Insurance Company<br> 7.059%, (3 month LIBOR + 2.290%), 12/15/2024 (B)(C) | 1130000 | $&nbsp;&nbsp;&nbsp;&nbsp;1127025 | 0.2% |
| Stifel Financial Corp.<br> 4.250%, 07/18/2024 | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;1273669 | 0.2% |
| The Goldman Sachs Group, Inc.<br> 3.625%, 01/22/2023 | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;1198992 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;45748989 | 8.4% |
|  |  | &nbsp;&nbsp;&nbsp;53932205 |  |
| **Health care - 2.5%** | **Health care - 2.5%** |  |  |
| AbbVie, Inc.<br> 3.200%, 11/21/2029 | 1700000 | &nbsp;&nbsp;&nbsp;&nbsp;1532506 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;12031671 | 2.2% |
|  |  | &nbsp;&nbsp;&nbsp;13564177 |  |
| **Industrials - 5.3%** | **Industrials - 5.3%** |  |  |
| Huntington Ingalls Industries, Inc.<br> 4.200%, 05/01/2030 | 1232000 | &nbsp;&nbsp;&nbsp;&nbsp;1118197 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;28100873 | 5.1% |
|  |  | &nbsp;&nbsp;&nbsp;29219070 |  |
| **Information technology - 3.4%** | **Information technology - 3.4%** |  |  |
| Broadcom, Inc.<br> 4.750%, 04/15/2029 | 1134000 | &nbsp;&nbsp;&nbsp;&nbsp;1080158 | 0.2% |
| Micron Technology, Inc.<br> 5.327%, 02/06/2029 | 1613000 | &nbsp;&nbsp;&nbsp;&nbsp;1548350 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;16008129 | 2.9% |
|  |  | &nbsp;&nbsp;&nbsp;18636637 |  |
| **Materials - 1.4%** | **Materials - 1.4%** | &nbsp;&nbsp;&nbsp;&nbsp;7672361 | 1.4% |
| **Real estate - 2.6%** | **Real estate - 2.6%** | &nbsp;&nbsp;&nbsp;13919593 | 2.6% |
| **Utilities - 1.9%** | **Utilities - 1.9%** | &nbsp;&nbsp;&nbsp;10577260 | 1.9% |
| TOTAL CORPORATE BONDS (Cost $255,445,940) | TOTAL CORPORATE BONDS (Cost $255,445,940) | $227713750 |  |
| **CAPITAL PREFERRED SECURITIES - 0.2%** | **CAPITAL PREFERRED SECURITIES - 0.2%** |  |  |
| **Financials - 0.2%** | **Financials - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;1158687 | 0.2% |
| TOTAL CAPITAL PREFERRED SECURITIES (Cost $1,390,643) | TOTAL CAPITAL PREFERRED SECURITIES (Cost $1,390,643) | $&nbsp;&nbsp;&nbsp;&nbsp;1158687 |  |
| **MUNICIPAL BONDS - 0.6%** | **MUNICIPAL BONDS - 0.6%** |  |  |
| The School District of Philadelphia (Pennsylvania), GO<br> 6.765%, 06/01/2040 | 1010000 | &nbsp;&nbsp;&nbsp;&nbsp;1089750 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;2317492 | 0.4% |
| TOTAL MUNICIPAL BONDS (Cost $4,088,766) |  | $&nbsp;&nbsp;&nbsp;3407242 |  |
| **TERM LOANS (D) - 0.1%** | **TERM LOANS (D) - 0.1%** |  |  |
| **Communication services - 0.0%** | **Communication services - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83439 | 0.0% |
| **Health care - 0.0%** | **Health care - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56205 | 0.0% |
| **Industrials - 0.1%** | **Industrials - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476548 | 0.1% |
| **Materials - 0.0%** | **Materials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75299 | 0.0% |
| TOTAL TERM LOANS (Cost $798,290) | TOTAL TERM LOANS (Cost $798,290) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691491 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 9.4%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 9.4%** |  |  |
| **Commercial and residential - 6.7%** | **Commercial and residential - 6.7%** | &nbsp;&nbsp;&nbsp;36692892 | 6.7% |
| **Federal Home Loan Mortgage Corp. - 0.8%** | **Federal Home Loan Mortgage Corp. - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;4028092 | 0.8% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |  |
| **Federal National Mortgage Association - 0.7%** | **Federal National Mortgage Association - 0.7%** | $&nbsp;&nbsp;&nbsp;&nbsp;3807270 | &nbsp;&nbsp;&nbsp;0.7% |
| **Government National Mortgage<br> Association - 1.2%** | **Government National Mortgage<br> Association - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;6705473 | &nbsp;&nbsp;&nbsp;1.2% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $63,290,505) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $63,290,505) | $&nbsp;&nbsp;&nbsp;51233727 |  |
| **ASSET BACKED SECURITIES - 6.6%** | **ASSET BACKED SECURITIES - 6.6%** |  |  |
| Credit-Based Asset Servicing & Securitization LLC<br> Series 2006-MH1, Class B1, 6.250%, 10/25/2036 (C) | $2138445 | &nbsp;&nbsp;&nbsp;&nbsp;2021924 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Domino's Pizza Master Issuer LLC<br> Series 2021-1A, Class A2I, 2.662%, 04/25/2051 (C) | 1318915 | &nbsp;&nbsp;&nbsp;&nbsp;1096918 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;33252977 | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| TOTAL ASSET BACKED SECURITIES (Cost $40,431,155) |  | $&nbsp;&nbsp;36371819 |  |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |  |
| **Energy - 0.0%** | **Energy - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72328 | &nbsp;&nbsp;&nbsp;0.0% |
| **Utilities - 0.0%** | **Utilities - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194541 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $450,968) | TOTAL COMMON STOCKS (Cost $450,968) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266869 |  |
| **PREFERRED SECURITIES - 0.1%** | **PREFERRED SECURITIES - 0.1%** |  |  |
| **Communication services - 0.0%** | **Communication services - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112240 | &nbsp;&nbsp;&nbsp;0.0% |
| **Financials - 0.0%** | **Financials - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65175 | &nbsp;&nbsp;&nbsp;0.0% |
| **Utilities - 0.1%** | **Utilities - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185868 | &nbsp;&nbsp;&nbsp;0.1% |
| TOTAL PREFERRED SECURITIES (Cost $441,919) | TOTAL PREFERRED SECURITIES (Cost $441,919) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363283 |  |
| **ESCROW CERTIFICATES - 0.0%** | **ESCROW CERTIFICATES - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL ESCROW CERTIFICATES (Cost $0) | TOTAL ESCROW CERTIFICATES (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 |  |
| **SHORT-TERM INVESTMENTS - 2.2%** | **SHORT-TERM INVESTMENTS - 2.2%** |  |  |
| **Short-term funds - 2.2%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 1201218 | &nbsp;&nbsp;&nbsp;12007133 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $12,006,375) | TOTAL SHORT-TERM INVESTMENTS (Cost $12,006,375) | $&nbsp;&nbsp;&nbsp;12007133 |  |
| **Total Investments (Active Bond Trust) (Cost $613,690,506) - 100.1%** | **Total Investments (Active Bond Trust) (Cost $613,690,506) - 100.1%** | $**549160402** | **100.1%** |
| **Other assets and liabilities, net - (0.1)%** | **Other assets and liabilities, net - (0.1)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(364349)** | &nbsp;&nbsp;**(0.1%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**548796053** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| GO | General Obligation |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $115,581,203 or 21.1% of the fund's net assets as of 12-31-22. |
| (D) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)
(E) The rate shown is the annualized seven-day yield as of 12-31-22.

(F) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for
securities lending. Market value of this investment amounted to $197,536.

#### Core Bond Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 56.9%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 56.9%** |  |  |
| **U.S. Treasury Bonds - 10.0%** | **U.S. Treasury Bonds - 10.0%** |  |  |
| 1.125%, 05/15/2040<br> to 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28185000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17566885 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| 1.375%, 11/15/2040<br> to 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29676000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19062790 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| 1.750%, 08/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17904281 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| 1.875%, 02/15/2041<br> to 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209438 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 2.000%, 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5417000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3546865 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 2.875%, 05/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701014 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 3.000%, 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3866000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185222 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 4.000%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5523000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5530767 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| 5.250%, 11/15/2028<br> to 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543636 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412621 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78663519 |  |
| **U.S. Treasury Notes - 18.2%** | **U.S. Treasury Notes - 18.2%** |  |  |
| 0.250%, 08/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6822000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134470 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 0.375%, 11/30/2025<br> to 01/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9534385 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| 0.750%, 05/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4394968 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 1.375%, 10/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5720188 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| 1.500%, 08/15/2026<br> to 11/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18003000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16387565 | &nbsp;&nbsp;&nbsp;&nbsp;2.1% |
| 1.625%, 05/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6984000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6427735 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 2.000%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708452 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.250%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303711 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 2.375%, 08/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231262 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 2.750%, 02/15/2028<br> to 05/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7933000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7446263 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| 2.875%, 04/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2757932 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 3.250%, 06/30/2027<br> to 06/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332105 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 3.875%, 11/30/2027<br> to 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20143000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20027363 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| 4.000%, 12/15/2025<br> to 10/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10989305 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 4.125%, 09/30/2027<br> to 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29296719 | &nbsp;&nbsp;&nbsp;&nbsp;3.7% |
| 4.500%, 11/30/2024<br> to 11/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5757000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5762467 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6175806 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142630696 |  |
| **Federal Home Loan Mortgage Corp. - 4.1%** | **Federal Home Loan Mortgage Corp. - 4.1%** |  |  |
| 2.000%, 11/01/2040<br> to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14725041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12419839 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| 2.500%, 04/01/2042<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6774539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822226 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| 3.574%, (1 month SOFR + 2.183%), 10/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278425 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10896654 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32417144 |  |
| **Federal National Mortgage Association - 21.7%** | **Federal National Mortgage Association - 21.7%** |  |  |
| 1.500%, 10/01/2041<br> to 11/01/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10150173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243184 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |

---

#### Core Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **Federal National Mortgage<br> Association (continued)** | **Federal National Mortgage<br> Association (continued)** |  |  |
| 2.000%, 11/01/2040<br> to 12/01/2050 | 41295974 | $&nbsp;&nbsp;&nbsp;34721953 | 4.4% |
| 2.500%, 12/01/2035<br> to 03/01/2052 | 23152521 | &nbsp;&nbsp;&nbsp;20300089 | 2.6% |
| 3.000%, 11/01/2042<br> to 07/01/2060 | 39797434 | &nbsp;&nbsp;&nbsp;35853634 | 4.8% |
| 3.000%, 02/01/2043<br> to 11/01/2046 (B) | &nbsp;&nbsp;4354912 | &nbsp;&nbsp;&nbsp;&nbsp;3914376 | 0.5% |
| 3.500%, 11/01/2042<br> to 04/01/2050 | 17813606 | &nbsp;&nbsp;&nbsp;16552351 | 2.0% |
| 4.000%, 01/01/2027<br> to 08/01/2059 | 14408756 | &nbsp;&nbsp;&nbsp;14039199 | 1.7% |
| 4.229%, 11/15/2030 (C) | &nbsp;&nbsp;3465000 | &nbsp;&nbsp;&nbsp;&nbsp;2488827 | 0.3% |
| 4.500%, 06/01/2041<br> to 11/01/2048 | &nbsp;&nbsp;2376942 | &nbsp;&nbsp;&nbsp;&nbsp;2354875 | 0.3% |
| 6.500%, TBA (B) | 14900000 | &nbsp;&nbsp;&nbsp;15250334 | 2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;16781321 | 2.0% |
|  |  | 170500143 |  |
| **Government National Mortgage<br> Association - 2.9%** | **Government National Mortgage<br> Association - 2.9%** |  |  |
| 2.500%, 12/20/2051 | &nbsp;&nbsp;2928018 | &nbsp;&nbsp;&nbsp;&nbsp;2539785 | 0.3% |
| 2.500%, TBA (B) | &nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;2512105 | 0.3% |
| 3.000%, 06/20/2043<br> to 10/20/2050 | &nbsp;&nbsp;8255000 | &nbsp;&nbsp;&nbsp;&nbsp;7408081 | 0.9% |
| 4.000%, 06/20/2047<br> to 04/20/2048 | &nbsp;&nbsp;3763746 | &nbsp;&nbsp;&nbsp;&nbsp;3613972 | 0.4% |
| 5.000%, 12/20/2039<br> to 03/20/2049 | &nbsp;&nbsp;4029489 | &nbsp;&nbsp;&nbsp;&nbsp;4055956 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;2467170 | 0.4% |
|  |  | &nbsp;&nbsp;&nbsp;22597069 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $483,429,215) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $483,429,215) | $446808571 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.8%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.8%** |  |  |
| **Australia - 0.1%** |  | &nbsp;&nbsp;&nbsp;1055566 | 0.1% |
| **Bermuda - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308871 | 0.0% |
| **Canada - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402299 | 0.1% |
| **Chile - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202774 | 0.0% |
| **Italy - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134500 | 0.0% |
| **Mexico - 0.4%** |  | &nbsp;&nbsp;&nbsp;2929295 | 0.4% |
| **Paraguay - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469624 | 0.1% |
| **Peru - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272032 | 0.0% |
| **Poland - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643784 | 0.1% |
| **South Korea - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365495 | 0.0% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $7,520,560) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $7,520,560) | $&nbsp;&nbsp;&nbsp;&nbsp;6784240 |  |
| **CORPORATE BONDS - 23.8%** | **CORPORATE BONDS - 23.8%** |  |  |
| **Communication services - 1.6%** | **Communication services - 1.6%** | &nbsp;&nbsp;&nbsp;12686717 | 1.6% |
| **Consumer discretionary - 1.1%** | **Consumer discretionary - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;8924705 | 1.1% |
| **Consumer staples - 1.1%** | **Consumer staples - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;8727127 | 1.1% |
| **Energy - 1.5%** | **Energy - 1.5%** | &nbsp;&nbsp;&nbsp;11339912 | 1.5% |
| **Financials - 7.5%** | **Financials - 7.5%** |  |  |
| Bank of America Corp.<br> 1.530%, (1.530% to 12-6-24, then SOFR + 0.650%), 12/06/2025 | &nbsp;&nbsp;2578000 | &nbsp;&nbsp;&nbsp;&nbsp;2377691 | 0.3% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| JPMorgan Chase & Co.<br> 1.040%, (1.040% to 2-4-26, then 3 month CME Term SOFR + 0.695%), 02/04/2027 | 2779000 | $&nbsp;&nbsp;&nbsp;&nbsp;2417365 | &nbsp;&nbsp;&nbsp;0.3% |
| JPMorgan Chase & Co.<br> 1.561%, (1.561% to 12-10-24, then SOFR + 0.605%), 12/10/2025 | 4066000 | &nbsp;&nbsp;&nbsp;&nbsp;3764399 | &nbsp;&nbsp;&nbsp;0.5% |
| Wells Fargo & Company<br> 3.526%, (3.526% to 3-24-27, then SOFR + 1.510%), 03/24/2028 | 2901000 | &nbsp;&nbsp;&nbsp;&nbsp;2686329 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;47840655 | &nbsp;&nbsp;&nbsp;6.1% |
|  |  | &nbsp;&nbsp;&nbsp;59086439 |  |
| **Health care - 2.4%** | **Health care - 2.4%** | &nbsp;&nbsp;&nbsp;18520282 | &nbsp;&nbsp;2.4% |
| **Industrials - 2.2%** | **Industrials - 2.2%** | &nbsp;&nbsp;&nbsp;17421413 | &nbsp;&nbsp;2.2% |
| **Information technology - 2.2%** | **Information technology - 2.2%** | &nbsp;&nbsp;&nbsp;17224572 | &nbsp;&nbsp;2.2% |
| **Materials - 0.5%** | **Materials - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;4087610 | &nbsp;&nbsp;0.5% |
| **Real estate - 1.7%** | **Real estate - 1.7%** | &nbsp;&nbsp;&nbsp;13016716 | &nbsp;&nbsp;1.7% |
| **Utilities - 2.0%** | **Utilities - 2.0%** | &nbsp;&nbsp;&nbsp;15638809 | &nbsp;&nbsp;2.0% |
| TOTAL CORPORATE BONDS (Cost $207,726,200) | TOTAL CORPORATE BONDS (Cost $207,726,200) | $186674302 |  |
| **MUNICIPAL BONDS - 0.3%** | **MUNICIPAL BONDS - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;2764694 | &nbsp;&nbsp;0.3% |
| TOTAL MUNICIPAL BONDS (Cost $3,491,211) |  | $&nbsp;&nbsp;&nbsp;2764694 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 9.5%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 9.5%** |  |  |
| **Commercial and residential - 4.3%** | **Commercial and residential - 4.3%** |  |  |
| Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)<br> Series 2013-CR11, Class A4, 4.258%, 08/10/2050 | 2260000 | &nbsp;&nbsp;&nbsp;&nbsp;2235068 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;31944612 | &nbsp;&nbsp;&nbsp;4.0% |
|  |  | &nbsp;&nbsp;&nbsp;34179680 |  |
| **Federal Home Loan Mortgage Corp. - 1.5%** | **Federal Home Loan Mortgage Corp. - 1.5%** | &nbsp;&nbsp;&nbsp;11646051 | &nbsp;&nbsp;1.5% |
| **Federal National Mortgage Association - 2.5%** | **Federal National Mortgage Association - 2.5%** |  |  |
| Series 2016-57, Class PC, 1.750%, 06/25/2046 | 2838918 | &nbsp;&nbsp;&nbsp;&nbsp;2357820 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;17358356 | &nbsp;&nbsp;&nbsp;2.2% |
|  |  | &nbsp;&nbsp;&nbsp;19716176 |  |
| **Government National Mortgage<br> Association - 1.2%** | **Government National Mortgage<br> Association - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;9158469 | &nbsp;&nbsp;1.2% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $82,421,989) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $82,421,989) | $&nbsp;&nbsp;&nbsp;74700376 |  |
| **ASSET BACKED SECURITIES - 11.6%** | **ASSET BACKED SECURITIES - 11.6%** | &nbsp;&nbsp;&nbsp;90945484 | 11.6% |
| TOTAL ASSET BACKED SECURITIES (Cost $96,452,259) |  | $&nbsp;&nbsp;90945484 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS - 0.8%** | **SHORT-TERM INVESTMENTS - 0.8%** |  |  |
| **Short-term funds - 0.8%** |  |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (D) | 6153473 | $&nbsp;&nbsp;&nbsp;&nbsp;6153473 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,153,473) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,153,473) | $&nbsp;&nbsp;&nbsp;&nbsp;6153473 |  |
| **Total Investments (Core Bond Trust) (Cost $887,194,907) - 103.7%** | **Total Investments (Core Bond Trust) (Cost $887,194,907) - 103.7%** | $**814831140** | **103.7%** |
| **Other assets and liabilities, net - (3.7)%** | **Other assets and liabilities, net - (3.7)%** | &nbsp;&nbsp;**(29366460)** | &nbsp;&nbsp;**(3.7%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**785464680** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (C) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

#### High Yield Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.3%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.3%** |  |  |
| **Argentina - 0.3%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571844 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $1,077,014) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $1,077,014) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571844 |  |
| **CORPORATE BONDS - 82.9%** | **CORPORATE BONDS - 82.9%** |  |  |
| **Communication services - 10.9%** | **Communication services - 10.9%** |  |  |
| Accelerate360 Holdings LLC<br> 8.000%, 03/01/2028 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765788 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| CCO Holdings LLC<br> 4.500%, 05/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217880 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| DISH DBS Corp.<br> 5.750%, 12/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718313 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| DISH DBS Corp.<br> 7.750%, 07/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701559 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Sprint LLC<br> 7.875%, 09/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679371 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| Vmed O2 UK Financing I PLC<br> 4.750%, 07/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739239 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13506007 | &nbsp;&nbsp;&nbsp;&nbsp;8.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18328157 |  |
| **Consumer discretionary - 16.6%** | **Consumer discretionary - 16.6%** |  |  |
| American Axle & Manufacturing, Inc.<br> 5.000%, 10/01/2029 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870774 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Bath & Body Works, Inc.<br> 5.250%, 02/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854358 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Ford Motor Company<br> 6.100%, 08/19/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080328 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |  |  |
| Ford Motor Credit Company LLC<br> 5.113%, 05/03/2029 | 1100000 | $&nbsp;&nbsp;&nbsp;&nbsp;996100 | &nbsp;&nbsp;&nbsp;0.6% |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (A) | 1160000 | &nbsp;&nbsp;&nbsp;1026960 | &nbsp;&nbsp;&nbsp;0.6% |
| NCL Corp., Ltd.<br> 5.875%, 02/15/2027 (A) | 2260000 | &nbsp;&nbsp;&nbsp;1957831 | &nbsp;&nbsp;&nbsp;1.2% |
| The Michaels Companies, Inc.<br> 7.875%, 05/01/2029 (A) | 1070000 | &nbsp;&nbsp;&nbsp;&nbsp;714940 | &nbsp;&nbsp;&nbsp;0.4% |
| Viking Cruises, Ltd.<br> 13.000%, 05/15/2025 (A) | &nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;960102 | &nbsp;&nbsp;&nbsp;0.6% |
| VOC Escrow, Ltd.<br> 5.000%, 02/15/2028 (A) | 1345000 | &nbsp;&nbsp;&nbsp;1156835 | &nbsp;&nbsp;&nbsp;0.7% |
| Wynn Macau, Ltd.<br> 5.625%, 08/26/2028 (A) | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;785763 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | 17475886 | 10.4% |
|  |  | 27879877 |  |
| **Consumer staples - 0.9%** | **Consumer staples - 0.9%** | &nbsp;&nbsp;&nbsp;1542914 | &nbsp;&nbsp;0.9% |
| **Energy - 12.3%** | **Energy - 12.3%** |  |  |
| Berry Petroleum Company LLC<br> 7.000%, 02/15/2026 (A) | 1290000 | &nbsp;&nbsp;&nbsp;1184782 | &nbsp;&nbsp;&nbsp;0.7% |
| Chord Energy Corp.<br> 6.375%, 06/01/2026 (A) | &nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;964191 | &nbsp;&nbsp;&nbsp;0.6% |
| Colgate Energy Partners III LLC<br> 5.875%, 07/01/2029 (A) | 1320000 | &nbsp;&nbsp;&nbsp;1133696 | &nbsp;&nbsp;&nbsp;0.7% |
| EQM Midstream Partners LP<br> 6.500%, 07/15/2048 | 1460000 | &nbsp;&nbsp;&nbsp;1094380 | &nbsp;&nbsp;&nbsp;0.7% |
| MEG Energy Corp.<br> 7.125%, 02/01/2027 (A) | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;846510 | &nbsp;&nbsp;&nbsp;0.5% |
| Northern Oil and Gas, Inc.<br> 8.125%, 03/01/2028 (A) | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;816165 | &nbsp;&nbsp;&nbsp;0.5% |
| ROCC Holdings LLC<br> 9.250%, 08/15/2026 (A) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;995601 | &nbsp;&nbsp;&nbsp;0.6% |
| Southwestern Energy Company<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;675126 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | 12929942 | &nbsp;&nbsp;&nbsp;7.6% |
|  |  | 20640393 |  |
| **Financials - 9.6%** | **Financials - 9.6%** |  |  |
| Credit Suisse Group AG<br> 9.750%, (9.750% to 6-23-27, then 5 Year CMT + 6.383%), 06/23/2027 (A)(C) | &nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;766539 | &nbsp;&nbsp;&nbsp;0.5% |
| Global Aircraft Leasing Company, Ltd.<br> 6.500%, (6.500% Cash or 7.250% PIK), 09/15/2024 (A) | 2025678 | &nbsp;&nbsp;&nbsp;1721826 | &nbsp;&nbsp;&nbsp;1.0% |
| Highlands Holdings Bond Issuer, Ltd.<br> 7.625%, (7.625% Cash or 8.375% PIK), 10/15/2025 (A) | &nbsp;&nbsp;945962 | &nbsp;&nbsp;&nbsp;&nbsp;879828 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | 12674307 | &nbsp;&nbsp;&nbsp;7.6% |
|  |  | 16042500 |  |
| **Health care - 5.0%** | **Health care - 5.0%** |  |  |
| Community Health Systems, Inc.<br> 5.250%, 05/15/2030 (A) | 1073000 | &nbsp;&nbsp;&nbsp;&nbsp;809082 | &nbsp;&nbsp;&nbsp;0.5% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** |  |  |
| Par Pharmaceutical, Inc.<br> 7.500%, 04/01/2027 (A) | 1170000 | $&nbsp;&nbsp;&nbsp;&nbsp;889170 | 0.5% |
| Teva Pharmaceutical Finance Netherlands III BV<br> 5.125%, 05/09/2029 (B) | 1640000 | &nbsp;&nbsp;&nbsp;1460497 | 0.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;5149393 | 3.1% |
|  |  | &nbsp;&nbsp;&nbsp;8308142 |  |
| **Industrials - 14.4%** | **Industrials - 14.4%** |  |  |
| American Airlines, Inc.<br> 5.750%, 04/20/2029 (A) | 1110000 | &nbsp;&nbsp;&nbsp;1014491 | 0.6% |
| Chart Industries, Inc.<br> 7.500%, 01/01/2030 (A) | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;693650 | 0.4% |
| CoreCivic, Inc.<br> 8.250%, 04/15/2026 | 1070000 | &nbsp;&nbsp;&nbsp;1097285 | 0.7% |
| H&E Equipment Services, Inc.<br> 3.875%, 12/15/2028 (A) | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;783647 | 0.5% |
| Legends Hospitality Holding Company LLC<br> 5.000%, 02/01/2026 (A) | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;756500 | 0.5% |
| MIWD Holdco II LLC<br> 5.500%, 02/01/2030 (A) | &nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;692651 | 0.4% |
| Prime Security Services Borrower LLC<br> 6.250%, 01/15/2028 (A) | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;837347 | 0.5% |
| Smyrna Ready Mix Concrete LLC<br> 6.000%, 11/01/2028 (A) | &nbsp;&nbsp;770000 | &nbsp;&nbsp;&nbsp;&nbsp;688919 | 0.4% |
| Spirit Loyalty Cayman, Ltd.<br> 8.000%, 09/20/2025 (A) | &nbsp;&nbsp;706000 | &nbsp;&nbsp;&nbsp;&nbsp;708579 | 0.4% |
| The GEO Group, Inc.<br> 9.500%, 12/31/2028 (A)(B) | &nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;899583 | 0.5% |
| OTHER SECURITIES |  | 15883887 | 9.5% |
|  |  | 24056539 |  |
| **Information technology - 3.8%** | **Information technology - 3.8%** |  |  |
| CommScope, Inc.<br> 4.750%, 09/01/2029 (A) | 1500000 | &nbsp;&nbsp;&nbsp;1209300 | 0.7% |
| Vericast Corp.<br> 11.000%, 09/15/2026 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;693063 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4434432 | 2.7% |
|  |  | &nbsp;&nbsp;&nbsp;6336795 |  |
| **Materials - 5.4%** | **Materials - 5.4%** |  |  |
| Canpack SA<br> 3.875%, 11/15/2029 (A) | &nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;717134 | 0.4% |
| First Quantum Minerals, Ltd.<br> 6.875%, 03/01/2026 to 10/15/2027 (A) | 1450000 | &nbsp;&nbsp;&nbsp;1367374 | 0.8% |
| Freeport-McMoRan, Inc.<br> 5.450%, 03/15/2043 | 1870000 | &nbsp;&nbsp;&nbsp;1686815 | 1.0% |
| Summit Materials LLC<br> 5.250%, 01/15/2029 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;670338 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4687716 | 2.8% |
|  |  | &nbsp;&nbsp;&nbsp;9129377 |  |
| **Real estate - 2.7%** | **Real estate - 2.7%** |  |  |
| Five Point Operating Company LP<br> 7.875%, 11/15/2025 (A) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;672497 | 0.4% |
| IIP Operating Partnership LP<br> 5.500%, 05/25/2026 | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;841197 | 0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;2954199 | 1.8% |
|  |  | &nbsp;&nbsp;&nbsp;4467893 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Utilities - 1.3%** | **Utilities - 1.3%** |  |  |
| Sunnova Energy Corp.<br> 5.875%, 09/01/2026 (A)(B) | $1200000 | $&nbsp;&nbsp;&nbsp;&nbsp;1072068 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1095088 | 0.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2167156 |  |
| TOTAL CORPORATE BONDS (Cost $166,259,217) | TOTAL CORPORATE BONDS (Cost $166,259,217) | $138899743 |  |
| **CONVERTIBLE BONDS - 0.9%** | **CONVERTIBLE BONDS - 0.9%** |  |  |
| **Communication services - 0.2%** | **Communication services - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396575 | 0.2% |
| **Consumer discretionary - 0.3%** | **Consumer discretionary - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433225 | 0.3% |
| **Financials - 0.1%** | **Financials - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162331 | 0.1% |
| **Industrials - 0.2%** | **Industrials - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289800 | 0.2% |
| **Utilities - 0.1%** | **Utilities - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177270 | 0.1% |
| TOTAL CONVERTIBLE BONDS (Cost $1,881,670) | TOTAL CONVERTIBLE BONDS (Cost $1,881,670) | $&nbsp;&nbsp;&nbsp;&nbsp;1459201 |  |
| **TERM LOANS (D) - 4.6%** | **TERM LOANS (D) - 4.6%** |  |  |
| **Consumer discretionary - 1.6%** | **Consumer discretionary - 1.6%** | &nbsp;&nbsp;&nbsp;&nbsp;2645234 | 1.6% |
| **Financials - 0.6%** | **Financials - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954066 | 0.6% |
| **Health care - 0.6%** | **Health care - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;1070551 | 0.6% |
| **Industrials - 0.2%** | **Industrials - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416036 | 0.2% |
| **Information technology - 1.3%** | **Information technology - 1.3%** |  |  |
| Dcert Buyer, Inc., 2021 2nd Lien Term Loan (6 month LIBOR + 7.000%)<br> 11.696%, 02/19/2029 | &nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745380 | 0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1510989 | 0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2256369 |  |
| **Materials - 0.3%** | **Materials - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437660 | 0.3% |
| TOTAL TERM LOANS (Cost $9,035,881) | TOTAL TERM LOANS (Cost $9,035,881) | $&nbsp;&nbsp;&nbsp;&nbsp;7779916 |  |
| **ASSET BACKED SECURITIES - 6.9%** | **ASSET BACKED SECURITIES - 6.9%** | &nbsp;&nbsp;&nbsp;11506387 | 6.9% |
| TOTAL ASSET BACKED SECURITIES (Cost $12,831,901) |  | $&nbsp;&nbsp;11506387 |  |
| **COMMON STOCKS - 0.5%** | **COMMON STOCKS - 0.5%** |  |  |
| **Communication services - 0.0%** | **Communication services - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | 0.0% |
| **Energy - 0.5%** | **Energy - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872963 | 0.5% |
| TOTAL COMMON STOCKS (Cost $4,173,036) | TOTAL COMMON STOCKS (Cost $4,173,036) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872963 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PREFERRED SECURITIES - 0.8%** | **PREFERRED SECURITIES - 0.8%** |  |  |
| **Energy - 0.3%** | **Energy - 0.3%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538574 | &nbsp;&nbsp;&nbsp;0.3% |
| **Financials - 0.5%** | **Financials - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714194 | &nbsp;&nbsp;&nbsp;0.5% |
| TOTAL PREFERRED SECURITIES (Cost $1,441,338) | TOTAL PREFERRED SECURITIES (Cost $1,441,338) | $&nbsp;&nbsp;&nbsp;&nbsp;1252768 |  |
| **ESCROW CERTIFICATES - 0.0%** | **ESCROW CERTIFICATES - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL ESCROW CERTIFICATES (Cost $342,202) | TOTAL ESCROW CERTIFICATES (Cost $342,202) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |  |
| **SHORT-TERM INVESTMENTS - 2.1%** | **SHORT-TERM INVESTMENTS - 2.1%** |  |  |
| **Short-term funds - 2.1%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 334853 | &nbsp;&nbsp;&nbsp;&nbsp;3347124 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123212 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3470336 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,470,394) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,470,394) | $&nbsp;&nbsp;&nbsp;&nbsp;3470336 |  |
| **Total Investments (High Yield Trust) (Cost $200,512,653) - 99.0%** | **Total Investments (High Yield Trust) (Cost $200,512,653) - 99.0%** | $**165813158** | &nbsp;&nbsp;**99.0%** |
| **Other assets and liabilities, net - 1.0%** | **Other assets and liabilities, net - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**1680053** | &nbsp;&nbsp;&nbsp;**1.0%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**167493211** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $120,752,984 or 72.1% of the fund's net assets as of 12-31-22. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (D) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$8751344 | &nbsp;&nbsp;&nbsp;&nbsp;$8742305 | &nbsp;&nbsp;&nbsp;&nbsp;$(9039) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(9039)** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| EUR | &nbsp;&nbsp;442617 | &nbsp;&nbsp;USD | &nbsp;&nbsp;444715 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$29534 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;195721 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9572 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;447 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;1709 &nbsp;&nbsp;CAD | &nbsp;&nbsp;2334 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(15) |
|  |  |  |  |  | &nbsp;&nbsp;**$29981** | &nbsp;&nbsp;**$(15)** |

---

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;NOVA Chemicals Corp. | &nbsp;&nbsp;355000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;$355000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;$(7939) | &nbsp;&nbsp;&nbsp;$(2976) | &nbsp;&nbsp;$(10915) |
| Centrally cleared | &nbsp;&nbsp;The Goodyear Tire & Rubber Company | &nbsp;&nbsp;470000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;&nbsp;(7605) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(291) | &nbsp;&nbsp;&nbsp;&nbsp;(7896) |
| Centrally cleared | &nbsp;&nbsp;Xerox Holdings Corp. | &nbsp;&nbsp;190000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;24058 | &nbsp;&nbsp;&nbsp;&nbsp;(3974) | &nbsp;&nbsp;&nbsp;&nbsp;20084 |
| Centrally cleared | &nbsp;&nbsp;Beazer Homes USA, Inc. | &nbsp;&nbsp;470000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;55892 | &nbsp;&nbsp;&nbsp;(36612) | &nbsp;&nbsp;&nbsp;&nbsp;19280 |
| Centrally cleared | &nbsp;&nbsp;KB Home | &nbsp;&nbsp;662000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;(6011) | &nbsp;&nbsp;&nbsp;(42534) | &nbsp;&nbsp;&nbsp;(48545) |
|  |  |  |  | &nbsp;&nbsp;**$2147000** |  |  |  | &nbsp;&nbsp;**$58395** | &nbsp;&nbsp;**$(86387)** | &nbsp;&nbsp;**$(27992)** |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | Occidental Petroleum Corp. | 1.073% | 750000 | USD | &nbsp;&nbsp;&nbsp;$750000 | 1.000% | Quarterly | Jun 2026 | $(23921) | &nbsp;&nbsp;$20915 | &nbsp;&nbsp;$(3006) |
| Centrally cleared | Ford Motor Credit Company LLC | 3.814% | 800000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;800000 | 5.000% | Quarterly | Dec 2026 | &nbsp;&nbsp;&nbsp;&nbsp;98174 | &nbsp;&nbsp;&nbsp;(76675) | &nbsp;&nbsp;&nbsp;21499 |
|  |  |  |  |  | **$1550000** |  |  |  | &nbsp;&nbsp;**$74253** | **$(55760)** | **$18493** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| CAD | Canadian Dollar |
| EUR | Euro |
| MXN | Mexican Peso |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |

---

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Investment Quality Bond Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 64.7%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 64.7%** |  |  |
| **U.S. Treasury Bonds - 17.1%** | **U.S. Treasury Bonds - 17.1%** |  |  |
| 1.125%, 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239547 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 1.250%, 05/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244144 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 1.875%, 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004582 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 2.250%, 08/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586626 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| 2.500%, 02/15/2045<br> to 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391269 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 3.000%, 11/15/2044<br> to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9601102 | &nbsp;&nbsp;&nbsp;&nbsp;4.6% |
| 3.125%, 08/15/2044<br> to 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7370436 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| 3.375%, 08/15/2042<br> to 05/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205171 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 3.750%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725568 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |

---

#### Investment Quality Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **U.S. Treasury Bonds (continued)** | **U.S. Treasury Bonds (continued)** |  |  |
| 4.000%, 11/15/2042<br> to 11/15/2052 | 2095000 | $&nbsp;&nbsp;&nbsp;2086886 | 1.0% |
| 4.375%, 11/15/2039 | 1170000 | &nbsp;&nbsp;&nbsp;1219954 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;625122 | 0.3% |
|  |  | 35300407 |  |
| **U.S. Treasury Inflation Protected<br> Securities - 4.3%** | **U.S. Treasury Inflation Protected<br> Securities - 4.3%** |  |  |
| 0.250%, 07/15/2029 | 3529647 | &nbsp;&nbsp;&nbsp;3231209 | 1.6% |
| 0.625%, 07/15/2032 | 3599681 | &nbsp;&nbsp;&nbsp;3297007 | 1.6% |
| 0.750%, 07/15/2028 | 2282736 | &nbsp;&nbsp;&nbsp;2174399 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;219472 | 0.1% |
|  |  | &nbsp;&nbsp;&nbsp;8922087 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **U.S. Treasury Notes - 8.5%** | **U.S. Treasury Notes - 8.5%** |  |  |
| 0.625%, 05/15/2030 | $&nbsp;&nbsp;3430000 | $&nbsp;&nbsp;&nbsp;&nbsp;2714657 | 1.3% |
| 1.625%, 05/15/2031 (A) | &nbsp;&nbsp;6790000 | &nbsp;&nbsp;&nbsp;&nbsp;5710231 | 2.7% |
| 1.875%, 02/15/2032 | &nbsp;&nbsp;3110000 | &nbsp;&nbsp;&nbsp;&nbsp;2638276 | 1.3% |
| 2.750%, 08/15/2032 | &nbsp;&nbsp;2945000 | &nbsp;&nbsp;&nbsp;&nbsp;2681791 | 1.3% |
| 2.875%, 05/31/2025 | &nbsp;&nbsp;3985000 | &nbsp;&nbsp;&nbsp;&nbsp;3852530 | 1.9% |
|  |  | &nbsp;&nbsp;&nbsp;17597485 |  |
| **Federal Home Loan Mortgage Corp. - 6.5%** | **Federal Home Loan Mortgage Corp. - 6.5%** |  |  |
| 2.000%, 01/01/2052<br> to 01/01/2052 | 10792207 | &nbsp;&nbsp;&nbsp;&nbsp;8818324 | 4.2% |
| 2.500%, 01/01/2052<br> to 05/01/2052 | &nbsp;&nbsp;4250797 | &nbsp;&nbsp;&nbsp;&nbsp;3612942 | 1.7% |
| 3.500%, 03/01/2048<br> to 06/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;716598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663409 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314315 | 0.3% |
|  |  | &nbsp;&nbsp;&nbsp;13408990 |  |
| **Federal National Mortgage Association - 18.2%** | **Federal National Mortgage Association - 18.2%** |  |  |
| 2.000%, TBA (B) | &nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;3117263 | 1.5% |
| 2.500%, 07/01/2030<br> to 04/01/2050 | &nbsp;&nbsp;1297178 | &nbsp;&nbsp;&nbsp;&nbsp;1122505 | 0.5% |
| 2.500%, TBA (B) | 10400000 | &nbsp;&nbsp;&nbsp;&nbsp;8817250 | 4.3% |
| 2.660%, 03/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;774077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721275 | 0.4% |
| 3.000%, TBA (B) | &nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;2986953 | 1.4% |
| 3.500%, 06/01/2046<br> to 05/01/2048 | &nbsp;&nbsp;2619244 | &nbsp;&nbsp;&nbsp;&nbsp;2430711 | 1.2% |
| 4.000%, TBA (B) | &nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;3473373 | 1.7% |
| 4.500%, TBA (B) | 15100000 | &nbsp;&nbsp;&nbsp;14554984 | 7.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468904 | 0.2% |
|  |  | &nbsp;&nbsp;&nbsp;37693218 |  |
| **Government National Mortgage<br> Association - 10.1%** | **Government National Mortgage<br> Association - 10.1%** |  |  |
| 2.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2181322 | 1.1% |
| 3.000%, TBA (B) | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;6680074 | 3.2% |
| 3.500%, TBA (B) | &nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;4961412 | 2.4% |
| 4.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2461347 | 1.2% |
| 4.500%, TBA (B) | &nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;4463478 | 2.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125777 | 0.0% |
|  |  | &nbsp;&nbsp;&nbsp;20873410 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $150,030,311) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $150,030,311) | $133795597 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 3.7%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 3.7%** |  |  |
| **Angola - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175280 | 0.1% |
| **Benin - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236458 | 0.1% |
| **Bermuda - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367338 | 0.2% |
| **Brazil - 0.4%** |  |  |  |
| Federative Republic of Brazil<br> 10.000%, 01/01/2031 | &nbsp;&nbsp;5476000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906400 | 0.4% |
| **Chile - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302058 | 0.2% |
| **Colombia - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282736 | 0.1% |
| **Egypt - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204789 | 0.1% |
| **Ghana - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75400 | 0.0% |
| **Hungary - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564197 | 0.3% |
| **Indonesia - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412079 | 0.2% |
| **Ivory Coast - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190192 | 0.1% |
| **Mexico - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628444 | 0.3% |
| **North Macedonia - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469958 | 0.2% |
| **Panama - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579701 | 0.3% |
| **Philippines - 0.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504224 | 0.3% |
| **Romania - 0.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860013 | 0.4% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** |  |  |
| **Saudi Arabia - 0.1%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;238992 | &nbsp;&nbsp;&nbsp;0.1% |
| **Senegal - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;395046 | &nbsp;&nbsp;&nbsp;0.2% |
| **United Arab Emirates - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;231953 | &nbsp;&nbsp;&nbsp;0.1% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,704,221) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,704,221) | $&nbsp;&nbsp;&nbsp;7625258 |  |
| **CORPORATE BONDS - 24.8%** | **CORPORATE BONDS - 24.8%** |  |  |
| **Communication services - 2.1%** | **Communication services - 2.1%** | &nbsp;&nbsp;&nbsp;4264017 | &nbsp;&nbsp;2.1% |
| **Consumer discretionary - 1.4%** | **Consumer discretionary - 1.4%** | &nbsp;&nbsp;&nbsp;2903245 | &nbsp;&nbsp;1.4% |
| **Consumer staples - 1.0%** | **Consumer staples - 1.0%** | &nbsp;&nbsp;&nbsp;1987961 | &nbsp;&nbsp;1.0% |
| **Energy - 2.1%** | **Energy - 2.1%** | &nbsp;&nbsp;&nbsp;4252397 | &nbsp;&nbsp;2.1% |
| **Financials - 7.5%** | **Financials - 7.5%** |  |  |
| Bank of America Corp.<br> 2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | $905000 | &nbsp;&nbsp;&nbsp;&nbsp;724348 | &nbsp;&nbsp;&nbsp;0.4% |
| Credit Suisse Group AG<br> 6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (C) | 790000 | &nbsp;&nbsp;&nbsp;&nbsp;693141 | &nbsp;&nbsp;&nbsp;0.3% |
| GTP Acquisition Partners I LLC<br> 3.482%, 06/16/2025 (C) | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;680019 | &nbsp;&nbsp;&nbsp;0.3% |
| HSBC Holdings PLC<br> 5.402%, (5.402% to 8-11-32, then SOFR + 2.870%), 08/11/2033 | 770000 | &nbsp;&nbsp;&nbsp;&nbsp;713038 | &nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | 12717477 | &nbsp;&nbsp;&nbsp;6.1% |
|  |  | 15528023 |  |
| **Health care - 2.1%** | **Health care - 2.1%** | &nbsp;&nbsp;&nbsp;4412484 | &nbsp;&nbsp;2.1% |
| **Industrials - 1.9%** | **Industrials - 1.9%** | &nbsp;&nbsp;&nbsp;3886004 | &nbsp;&nbsp;1.9% |
| **Information technology - 2.8%** | **Information technology - 2.8%** | &nbsp;&nbsp;&nbsp;5767905 | &nbsp;&nbsp;2.8% |
| **Materials - 0.8%** | **Materials - 0.8%** | &nbsp;&nbsp;&nbsp;1715270 | &nbsp;&nbsp;0.8% |
| **Real estate - 0.6%** | **Real estate - 0.6%** | &nbsp;&nbsp;&nbsp;1347578 | &nbsp;&nbsp;0.6% |
| **Utilities - 2.5%** | **Utilities - 2.5%** | &nbsp;&nbsp;&nbsp;5139326 | &nbsp;&nbsp;2.5% |
| TOTAL CORPORATE BONDS (Cost $57,565,463) | TOTAL CORPORATE BONDS (Cost $57,565,463) | $51204210 |  |
| **MUNICIPAL BONDS - 1.9%** | **MUNICIPAL BONDS - 1.9%** |  |  |
| Philadelphia Authority for Industrial Development (Pennsylvania)<br> 6.550%, 10/15/2028 | 675000 | &nbsp;&nbsp;&nbsp;&nbsp;705563 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;3150312 | &nbsp;&nbsp;&nbsp;1.6% |
| TOTAL MUNICIPAL BONDS (Cost $4,319,727) |  | $&nbsp;&nbsp;3855875 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 14.1%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 14.1%** |  |  |
| **Commercial and residential - 12.2%** | **Commercial and residential - 12.2%** |  |  |
| BBCMS Mortgage Trust<br> Series 2017-DELC, Class A (1 month LIBOR + 0.975%), 5.293%, 08/15/2036 (C)(D) | 949000 | &nbsp;&nbsp;&nbsp;&nbsp;932248 | &nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | 24340812 | 11.7% |
|  |  | 25273060 |  |
| **Federal Home Loan Mortgage Corp. - 0.7%** | **Federal Home Loan Mortgage Corp. - 0.7%** | &nbsp;&nbsp;&nbsp;1402639 | &nbsp;&nbsp;0.7% |
| **Federal National Mortgage Association - 1.2%** | **Federal National Mortgage Association - 1.2%** | &nbsp;&nbsp;&nbsp;2426561 | &nbsp;&nbsp;1.2% |
| **Government National Mortgage<br> Association - 0.0%** | **Government National Mortgage<br> Association - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65859 | &nbsp;&nbsp;0.0% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,934,173) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,934,173) | $29168119 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **ASSET BACKED SECURITIES - 11.1%** | **ASSET BACKED SECURITIES - 11.1%** |  |  |
| Bain Capital Credit CLO, Ltd.<br> Series 2017-2A, Class AR2 (3 month LIBOR + 1.180%), 5.538%, 07/25/2034 (C)(D) | $650000 | $&nbsp;&nbsp;&nbsp;&nbsp;632945 | 0.3% |
| CIFC Funding, Ltd.<br> Series 2017-2A, Class AR (3 month LIBOR + 0.950%), 5.193%, 04/20/2030 (C)(D) | 894715 | &nbsp;&nbsp;&nbsp;&nbsp;881970 | 0.4% |
| Galaxy XXIII CLO, Ltd.<br> Series 2017-23A, Class AR (3 month LIBOR + 0.870%), 5.195%, 04/24/2029 (C)(D) | 753943 | &nbsp;&nbsp;&nbsp;&nbsp;743283 | 0.4% |
| Madison Park Funding XLI, Ltd.<br> Series 12A, Class AR (3 month LIBOR + 0.830%), 5.155%, 04/22/2027 (C)(D) | 639913 | &nbsp;&nbsp;&nbsp;&nbsp;632993 | 0.3% |
| Madison Park Funding XXXVIII, Ltd.<br> Series 2021-38A, Class A (3 month LIBOR + 1.120%), 5.199%, 07/17/2034 (C)(D) | 655000 | &nbsp;&nbsp;&nbsp;&nbsp;638516 | 0.3% |
| RR 1 LLC<br> Series 2017-1A, Class A1AB (3 month LIBOR + 1.150%), 5.229%, 07/15/2035 (C)(D) | 675000 | &nbsp;&nbsp;&nbsp;&nbsp;659966 | 0.3% |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2II, 2.294%, 08/25/2051 (C) | 885060 | &nbsp;&nbsp;&nbsp;&nbsp;711029 | 0.3% |
| Venture 42 CLO, Ltd.<br> Series 2021-42A, Class A1A (3 month LIBOR + 1.130%), 5.209%, 04/15/2034 (C)(D) | 655000 | &nbsp;&nbsp;&nbsp;&nbsp;633181 | 0.3% |
| OTHER SECURITIES |  | 17401954 | 8.5% |
| TOTAL ASSET BACKED SECURITIES (Cost $24,327,892) |  | $22935837 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |  |
| **Energy - 0.0%** | **Energy - 0.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9392 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $119,514) | TOTAL COMMON STOCKS (Cost $119,514) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9392 |  |
| **SHORT-TERM INVESTMENTS - 3.5%** | **SHORT-TERM INVESTMENTS - 3.5%** |  |  |
| **Repurchase agreement - 3.5%** |  |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 12-30-22 at 4.290% to be repurchased at $7,103,384 on 1-3-23, collateralized by $7,234,786 Federal National Mortgage Association, 3.500% - 6.000% due 6-1-52 to 12-1-52 (valued at $7,242,001) | $7100000 | &nbsp;&nbsp;&nbsp;&nbsp;7100000 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,100,000) | TOTAL SHORT-TERM INVESTMENTS (Cost $7,100,000) | $&nbsp;&nbsp;&nbsp;&nbsp;7100000 |  |
| **Total Investments (Investment Quality Bond Trust) (Cost $287,101,301) - 123.8%** | **Total Investments (Investment Quality Bond Trust) (Cost $287,101,301) - 123.8%** | $**255694288** | **123.8%** |
| **Other assets and liabilities, net - (23.8)%** | **Other assets and liabilities, net - (23.8)%** | &nbsp;&nbsp;**(49084474)** | **(23.8%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**206609814** | **100.0%** |

---

<u>Currency Abbreviations</u> <br> BRL Brazilian Real

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $60,505,890 or 29.3% of the fund's net assets as of 12-31-22. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1912417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1810823 | &nbsp;&nbsp;&nbsp;&nbsp;$(101594) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10593401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10577111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16290) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(21958876) | &nbsp;&nbsp;&nbsp;&nbsp;(21897891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60985 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5559423) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5537109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22314 |
| Euro SCHATZ Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4104789) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4062484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42305 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1216124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1013373) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202751 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2872117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2703602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168515 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7422922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7395281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27641 |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7584837) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7521500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63337 |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1783030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1774219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8811 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$478775** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;866801 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;4690000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(9893) |
| USD | &nbsp;&nbsp;4863443 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4598000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(82091) |
|  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$(91984)** |

---

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | 2185000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2041 | $(11594) | &nbsp;&nbsp;&nbsp;$592157 | $580563 |
| Centrally cleared | 1320000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2051 | &nbsp;&nbsp;&nbsp;(7975) | &nbsp;&nbsp;&nbsp;&nbsp;415602 | &nbsp;&nbsp;407627 |
|  |  |  |  |  |  |  |  | **$(19569)** | **$1007759** | **$988190** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;937000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;$937000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;$46223 | &nbsp;&nbsp;&nbsp;&nbsp;$1835 | &nbsp;&nbsp;&nbsp;$48058 |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.38 | &nbsp;&nbsp;1090000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;88200 | &nbsp;&nbsp;&nbsp;(24802) | &nbsp;&nbsp;&nbsp;&nbsp;63398 |
|  |  |  |  | &nbsp;&nbsp;**$2027000** |  |  |  | &nbsp;&nbsp;**$134423** | &nbsp;&nbsp;**$(22967)** | &nbsp;&nbsp;**$111456** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| BRL | Brazilian Real |
| EUR | Euro |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| CITI | Citibank, N.A. |
| DB | Deutsche Bank AG |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |

---

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Money Market Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT - 4.6%** | **U.S. GOVERNMENT - 4.6%** |  |  |
| **U.S. Treasury Notes - 4.6%** | **U.S. Treasury Notes - 4.6%** |  |  |
| 4.239%, (3 month USBMMY + 0.049%), 01/31/2023 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32683900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32691126 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 4.295%, (3 month USBMMY + 0.034%), 04/30/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32699931 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 4.378%, (3 month USBMMY - 0.075%), 04/30/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15001000 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 4.505%, (3 month USBMMY + 0.037%), 07/31/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26848500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26845248 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107237305 |  |
| TOTAL U.S. GOVERNMENT (Cost $107,237,305) | TOTAL U.S. GOVERNMENT (Cost $107,237,305) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107237305 |  |
| **U.S. GOVERNMENT AGENCY - 73.7%** | **U.S. GOVERNMENT AGENCY - 73.7%** |  |  |
| **Federal Agricultural Mortgage Corp. - 8.1%** | **Federal Agricultural Mortgage Corp. - 8.1%** |  |  |
| 4.380%, (SOFR + 0.020%), 02/14/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 4.380%, (SOFR + 0.020%), 02/24/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19848000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19848000 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |

---

#### Money Market Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |  |
| **Federal Agricultural Mortgage Corp. (continued)** | **Federal Agricultural Mortgage Corp. (continued)** |  |  |
| 4.380%, (SOFR + 0.020%), 03/01/2023 (A) | 16299000 | $&nbsp;&nbsp;&nbsp;16299000 | 0.7% |
| 4.395%, (SOFR + 0.035%), 04/06/2023 (A) | 20070000 | &nbsp;&nbsp;&nbsp;20070000 | 0.9% |
| 4.400%, (SOFR + 0.040%), 03/29/2023 (A) | 26927000 | &nbsp;&nbsp;&nbsp;26927000 | 1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;79139913 | 3.3% |
|  |  | 189283913 |  |
| **Federal Farm Credit Bank - 19.5%** | **Federal Farm Credit Bank - 19.5%** |  |  |
| 4.380%, (SOFR + 0.015%), 05/02/2023 (A) | 36654000 | &nbsp;&nbsp;&nbsp;36653384 | 1.6% |
| 4.388%, (SOFR + 0.030%), 06/14/2023 (A) | 37285000 | &nbsp;&nbsp;&nbsp;37285418 | 1.6% |
| 4.390%, (SOFR + 0.030%), 04/06/2023 (A) | 16846000 | &nbsp;&nbsp;&nbsp;16846000 | 0.7% |
| 4.398%, (Prime rate - 3.170%), 01/26/2023 (A) | 16308000 | &nbsp;&nbsp;&nbsp;16307915 | 0.7% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |  |
| **Federal Farm Credit Bank (continued)** | **Federal Farm Credit Bank (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;347633739 | 14.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;454726456 |  |
| **Federal Home Loan Bank - 44.0%** | **Federal Home Loan Bank - 44.0%** |  |  |
| 2.453%, 05/03/2023 | $19950000 | &nbsp;&nbsp;&nbsp;&nbsp;19950000 | &nbsp;&nbsp;&nbsp;0.9% |
| 2.521%, 05/23/2023 | 16645000 | &nbsp;&nbsp;&nbsp;&nbsp;16645000 | &nbsp;&nbsp;&nbsp;0.7% |
| 3.050%, 04/24/2023 | 19820000 | &nbsp;&nbsp;&nbsp;&nbsp;19634606 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.141%, 01/11/2023 | 16414000 | &nbsp;&nbsp;&nbsp;&nbsp;16395397 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.244%, 02/01/2023 | 16442000 | &nbsp;&nbsp;&nbsp;&nbsp;16382945 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.304%, 01/31/2023 | 19729000 | &nbsp;&nbsp;&nbsp;&nbsp;19659455 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.319%, 02/10/2023 | 26141000 | &nbsp;&nbsp;&nbsp;&nbsp;26017847 | &nbsp;&nbsp;&nbsp;1.1% |
| 4.349%, 02/15/2023 | 26236000 | &nbsp;&nbsp;&nbsp;&nbsp;26096067 | &nbsp;&nbsp;&nbsp;1.1% |
| 4.370%, (SOFR + 0.010%), 01/04/2023 (A) | 33020000 | &nbsp;&nbsp;&nbsp;&nbsp;33020000 | &nbsp;&nbsp;&nbsp;1.4% |
| 4.370%, (SOFR + 0.010%), 01/17/2023 (A) | 26445000 | &nbsp;&nbsp;&nbsp;&nbsp;26445000 | &nbsp;&nbsp;&nbsp;1.1% |
| 4.370%, (SOFR + 0.010%), 01/25/2023 (A) | 26450000 | &nbsp;&nbsp;&nbsp;&nbsp;26450000 | &nbsp;&nbsp;&nbsp;1.1% |
| 4.370%, (SOFR + 0.010%), 02/21/2023 (A) | 16585000 | &nbsp;&nbsp;&nbsp;&nbsp;16585000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.370%, (SOFR + 0.010%), 03/30/2023 (A) | 16290000 | &nbsp;&nbsp;&nbsp;&nbsp;16290000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.383%, (SOFR + 0.010%), 01/17/2023 (A) | 31625000 | &nbsp;&nbsp;&nbsp;&nbsp;31624822 | &nbsp;&nbsp;&nbsp;1.4% |
| 4.383%, (SOFR + 0.010%), 01/03/2023 (A) | 19815000 | &nbsp;&nbsp;&nbsp;&nbsp;19814986 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.400%, (SOFR + 0.040%), 10/06/2023 (A) | 19965000 | &nbsp;&nbsp;&nbsp;&nbsp;19965000 | &nbsp;&nbsp;&nbsp;0.9% |
| 4.400%, (SOFR + 0.040%), 01/30/2023 (A) | 16520000 | &nbsp;&nbsp;&nbsp;&nbsp;16520000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.400%, (SOFR + 0.040%), 06/05/2023 (A) | 16340000 | &nbsp;&nbsp;&nbsp;&nbsp;16340000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.405%, (SOFR + 0.045%), 05/23/2023 (A) | 23220000 | &nbsp;&nbsp;&nbsp;&nbsp;23220000 | &nbsp;&nbsp;&nbsp;1.0% |
| 4.405%, (SOFR + 0.045%), 03/03/2023 (A) | 19860000 | &nbsp;&nbsp;&nbsp;&nbsp;19860000 | &nbsp;&nbsp;&nbsp;0.9% |
| 4.410%, (SOFR + 0.050%), 03/28/2023 (A) | 16530000 | &nbsp;&nbsp;&nbsp;&nbsp;16530000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.410%, (SOFR + 0.050%), 02/21/2023 (A) | 16450000 | &nbsp;&nbsp;&nbsp;&nbsp;16450000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.410%, (SOFR + 0.050%), 03/01/2023 (A) | 19405000 | &nbsp;&nbsp;&nbsp;&nbsp;19405000 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.410%, (SOFR + 0.050%), 03/03/2023 (A) | 16430000 | &nbsp;&nbsp;&nbsp;&nbsp;16430000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.415%, (SOFR + 0.055%), 04/03/2023 (A) | 19865000 | &nbsp;&nbsp;&nbsp;&nbsp;19865000 | &nbsp;&nbsp;&nbsp;0.9% |
| 4.415%, (SOFR + 0.055%), 03/02/2023 (A) | 16515000 | &nbsp;&nbsp;&nbsp;&nbsp;16515000 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.421%, (SOFR + 0.060%), 04/10/2023 (A) | 36300000 | &nbsp;&nbsp;&nbsp;&nbsp;36300000 | &nbsp;&nbsp;&nbsp;1.6% |
| 4.421%, (SOFR + 0.060%), 04/18/2023 (A) | 19735000 | &nbsp;&nbsp;&nbsp;&nbsp;19735000 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.431%, (SOFR + 0.070%), 04/03/2023 (A) | 32865000 | &nbsp;&nbsp;&nbsp;&nbsp;32865000 | &nbsp;&nbsp;&nbsp;1.4% |
| 4.451%, (SOFR + 0.090%), 08/21/2023 (A) | 19735000 | &nbsp;&nbsp;&nbsp;&nbsp;19735000 | &nbsp;&nbsp;&nbsp;0.8% |
| 4.472%, 03/03/2023 | 16431000 | &nbsp;&nbsp;&nbsp;&nbsp;16309110 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.526%, 03/08/2023 | 16442000 | &nbsp;&nbsp;&nbsp;&nbsp;16308524 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.532%, 03/15/2023 | 16461000 | &nbsp;&nbsp;&nbsp;&nbsp;16313130 | &nbsp;&nbsp;&nbsp;0.7% |
| 4.536%, 03/21/2023 | 16396000 | &nbsp;&nbsp;&nbsp;&nbsp;16236608 | &nbsp;&nbsp;&nbsp;0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;319091678 | 13.9% |
|  |  | 1025005175 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |  |
| **Federal Home Loan Mortgage Corp. - 1.0%** | **Federal Home Loan Mortgage Corp. - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;22232965 | &nbsp;&nbsp;&nbsp;1.0% |
| **Federal National Mortgage Association - 1.1%** | **Federal National Mortgage Association - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;25310696 | &nbsp;&nbsp;&nbsp;1.1% |
| TOTAL U.S. GOVERNMENT AGENCY (Cost $1,716,559,205) | TOTAL U.S. GOVERNMENT AGENCY (Cost $1,716,559,205) | $1716559205 |  |
| **REPURCHASE<br> AGREEMENT - 21.9%** |  |  |  |
| Barclays Tri-Party Repurchase Agreement dated 12-30-22 at 4.250% to be repurchased at $30,014,167 on 1-3-23, collateralized by $34,457,710 U.S. Treasury Inflation Indexed Notes, 0.125% due 1-15-31 (valued at $30,614,526) | $&nbsp;&nbsp;30000000 | $&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| Goldman Sachs Tri-Party Repurchase Agreement dated 12-30-22 at 4.240% to be repurchased at $140,065,956 on 1-3-23, collateralized by $133,808,117 U.S. Treasury Inflation Indexed Bonds, 2.125% due 2-15-41 (valued at $142,867,329) | 140000000 | &nbsp;&nbsp;&nbsp;&nbsp;140000000 | &nbsp;&nbsp;&nbsp;&nbsp;6.0% |
| Repurchase Agreement with State Street Corp. dated 12-30-22 at 4.260% to be repurchased at $339,360,555 on 1-3-23, collateralized by $304,648,400 U.S. Treasury Inflation Indexed Notes, 0.750% due 7-15-28 (valued at $345,984,052) | 339200000 | &nbsp;&nbsp;&nbsp;&nbsp;339200000 | &nbsp;&nbsp;&nbsp;14.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL REPURCHASE AGREEMENT (Cost $509,354,000) | TOTAL REPURCHASE AGREEMENT (Cost $509,354,000) | $&nbsp;&nbsp;&nbsp;&nbsp;509354000 |  |
| **Total Investments (Money Market Trust) (Cost $2,333,150,510) - 100.2%** | **Total Investments (Money Market Trust) (Cost $2,333,150,510) - 100.2%** | $**2333150510** | **100.2%** |
| **Other assets and liabilities, net - (0.2)%** | **Other assets and liabilities, net - (0.2)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3853015)** | &nbsp;&nbsp;**(0.2%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**2329297495** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| SOFR | Secured Overnight Financing Rate |
| USBMMY | U.S. Treasury Bill Money Market Yield |
| (A) | Variable rate obligation. |

---

#### Opportunistic Fixed Income Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 18.4%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 18.4%** |  |  |
| **U.S. Treasury Bonds - 0.0%** | **U.S. Treasury Bonds - 0.0%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26923 | &nbsp;&nbsp;&nbsp;0.0% |
| **U.S. Treasury Inflation Protected<br> Securities - 4.6%** | **U.S. Treasury Inflation Protected<br> Securities - 4.6%** |  |  |
| 0.250%, 02/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499632 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 1.625%, 10/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6922456 | &nbsp;&nbsp;&nbsp;&nbsp;4.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7422088 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **U.S. Treasury Notes - 0.1%** | **U.S. Treasury Notes - 0.1%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148495 | &nbsp;&nbsp;&nbsp;0.1% |
| **Federal National Mortgage Association - 13.7%** | **Federal National Mortgage Association - 13.7%** |  |  |
| 4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22751000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21929815 | &nbsp;&nbsp;&nbsp;13.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21929815 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,097,967) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,097,967) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29527321 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 42.5%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 42.5%** |  |  |
| **Argentina - 0.2%** | **Argentina - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398421 | &nbsp;&nbsp;&nbsp;0.2% |
| **Australia - 1.6%** | **Australia - 1.6%** |  |  |
| Commonwealth of Australia 0.250%, 11/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120022 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Commonwealth of Australia, Inflation Linked Bond 1.495%, 08/21/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006388 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386668 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2513078 |  |
| **Benin - 0.1%** | **Benin - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217076 | &nbsp;&nbsp;&nbsp;0.1% |
| **Brazil - 5.9%** | **Brazil - 5.9%** |  |  |
| 10.000% 01/01/2025<br> to 01/01/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51689000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8811004 | &nbsp;&nbsp;&nbsp;&nbsp;5.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582938 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9393942 |  |
| **Bulgaria - 0.2%** | **Bulgaria - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341859 | &nbsp;&nbsp;&nbsp;0.2% |
| **Canada - 1.9%** | **Canada - 1.9%** |  |  |
| Government of Canada 4.000%, 12/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995746 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| Province of Ontario 2.000%, 12/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986775 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982521 |  |
| **Chile - 0.2%** | **Chile - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320046 | &nbsp;&nbsp;&nbsp;0.2% |
| **Colombia - 1.4%** | **Colombia - 1.4%** |  |  |
| Republic of Colombia 6.125%, 01/18/2041 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512792 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712420 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225212 |  |
| **Czech Republic - 0.6%** | **Czech Republic - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917453 | &nbsp;&nbsp;&nbsp;0.6% |
| **Egypt - 0.2%** | **Egypt - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264650 | &nbsp;&nbsp;&nbsp;0.2% |
| **Ghana - 0.1%** | **Ghana - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;0.1% |
| **Greece - 0.6%** | **Greece - 0.6%** |  |  |
| Republic of Greece, GDP-Linked Note 4.404%, 10/15/2042 (B)\* | &nbsp;&nbsp;&nbsp;&nbsp;409185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963626 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| **Hungary - 1.0%** | **Hungary - 1.0%** |  |  |
| Republic of Hungary 1.625%, 04/28/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759939 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823107 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583046 |  |
| **Iceland - 2.0%** | **Iceland - 2.0%** |  |  |
| Republic of Iceland 5.000%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;433770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848689 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328166 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176855 |  |
| **Indonesia - 1.0%** | **Indonesia - 1.0%** |  |  |
| 7.500% 08/15/2032<br> to 04/15/2040 | &nbsp;&nbsp;&nbsp;8132000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538764 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043373 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582137 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** |  |  |
| **Japan - 4.0%** | **Japan - 4.0%** |  |  |
| Government of Japan, CPI Linked Bond 0.100%, 03/10/2028 | 821957072 | $6497870 | 4.0% |
| **Malaysia - 1.1%** | **Malaysia - 1.1%** |  |  |
| Government of Malaysia 3.882%, 03/14/2025 | &nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp;427519 | 0.3% |
| OTHER SECURITIES |  | 1357967 | 0.8% |
|  |  | 1785486 |  |
| **Mexico - 1.4%** | **Mexico - 1.4%** |  |  |
| Government of Mexico 3.625%, 04/09/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;570356 | 0.3% |
| Government of Mexico 5.500%, 03/04/2027 | &nbsp;&nbsp;10591500 | &nbsp;&nbsp;&nbsp;&nbsp;474051 | 0.3% |
| OTHER SECURITIES |  | 1218771 | 0.8% |
|  |  | 2263178 |  |
| **New Zealand - 3.7%** | **New Zealand - 3.7%** |  |  |
| Government of New Zealand 2.750%, 05/15/2051 | &nbsp;&nbsp;&nbsp;2975000 | 1353704 | 0.8% |
| Government of New Zealand, Inflation Linked Bond 2.994%, 09/20/2040 | &nbsp;&nbsp;&nbsp;1925000 | 1459604 | 0.9% |
| Government of New Zealand, Inflation Linked Bond 3.025%, 09/20/2035 | &nbsp;&nbsp;&nbsp;2315000 | 1782228 | 1.1% |
| Government of New Zealand, Inflation Linked Bond 3.687%, 09/20/2030 | &nbsp;&nbsp;&nbsp;1280000 | 1046584 | 0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;347475 | 0.2% |
|  |  | 5989595 |  |
| **North Macedonia - 0.7%** | **North Macedonia - 0.7%** |  |  |
| Republic of North Macedonia 1.625%, 03/10/2028 | &nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;938099 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;149371 | 0.1% |
|  |  | 1087470 |  |
| **Panama - 0.2%** | **Panama - 0.2%** |  |  |
| Republic of Panama 4.500%, 04/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;407985 | 0.2% |
| **Peru - 0.9%** | **Peru - 0.9%** |  |  |
| Republic of Peru 6.350%, 08/12/2028 | &nbsp;&nbsp;&nbsp;2230000 | &nbsp;&nbsp;&nbsp;&nbsp;557847 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;840453 | 0.6% |
|  |  | 1398300 |  |
| **Philippines - 0.1%** | **Philippines - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;157294 | 0.1% |
| **Poland - 0.7%** | **Poland - 0.7%** | 1169612 | 0.7% |
| **Romania - 1.0%** | **Romania - 1.0%** |  |  |
| Republic of Romania 3.875%, 10/29/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;409536 | 0.3% |
| OTHER SECURITIES |  | 1125124 | 0.7% |
|  |  | 1534660 |  |
| **Russia - 0.6%** | **Russia - 0.6%** |  |  |
| Government of Russia 6.900%, 05/23/2029 (C) | 164290000 | &nbsp;&nbsp;&nbsp;&nbsp;668298 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;342061 | 0.2% |
|  |  | 1010359 |  |
| **Serbia - 0.2%** | **Serbia - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;307832 | 0.2% |
| **Slovenia - 0.1%** | **Slovenia - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;120820 | 0.1% |
| **South Africa - 1.3%** | **South Africa - 1.3%** |  |  |
| Republic of South Africa 8.875%, 02/28/2035 | &nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;570055 | 0.4% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** |  |  |
| **South Africa (continued)** | **South Africa (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;1522867 | 0.9% |
|  |  | &nbsp;&nbsp;&nbsp;2092922 |  |
| **South Korea - 8.8%** | **South Korea - 8.8%** |  |  |
| Republic of Korea 1.375%, 12/10/2029 | 10736980000 | &nbsp;&nbsp;&nbsp;7237064 | 4.5% |
| Republic of Korea 2.375%, 12/10/2031 | &nbsp;&nbsp;4545430000 | &nbsp;&nbsp;&nbsp;3207404 | 2.0% |
| Republic of Korea, Inflation Linked Bond 1.125%, 06/10/2030 | &nbsp;&nbsp;3038485519 | &nbsp;&nbsp;&nbsp;2371127 | 1.5% |
| Republic of Korea, Inflation Linked Bond 1.750%, 06/10/2028 | &nbsp;&nbsp;1578882338 | &nbsp;&nbsp;&nbsp;1279372 | 0.8% |
|  |  | 14094967 |  |
| **Sri Lanka - 0.0%** | **Sri Lanka - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62050 | 0.0% |
| **Thailand - 0.6%** | **Thailand - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;960971 | 0.6% |
| **Ukraine - 0.1%** | **Ukraine - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93593 | 0.1% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $83,939,455) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $83,939,455) | $68089886 |  |
| **CORPORATE BONDS - 22.8%** | **CORPORATE BONDS - 22.8%** |  |  |
| **Australia - 0.2%** | **Australia - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;347160 | 0.2% |
| **Austria - 0.1%** | **Austria - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;196201 | 0.1% |
| **Bermuda - 0.1%** | **Bermuda - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;144142 | 0.1% |
| **Canada - 0.7%** | **Canada - 0.7%** | &nbsp;&nbsp;&nbsp;1093274 | 0.7% |
| **Cayman Islands - 0.1%** | **Cayman Islands - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;182294 | 0.1% |
| **Chile - 0.1%** | **Chile - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;116500 | 0.1% |
| **China - 0.3%** | **China - 0.3%** | &nbsp;&nbsp;&nbsp;&nbsp;530598 | 0.3% |
| **Finland - 0.0%** | **Finland - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25627 | 0.0% |
| **France - 1.0%** | **France - 1.0%** |  |  |
| Societe Generale SA 6.221%, (6.221% to 6-15-32, then 1 Year CMT + 3.200%), 06/15/2033 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;621964 | 0.4% |
| Valeo 1.000%, 08/03/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;411806 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;605914 | 0.3% |
|  |  | &nbsp;&nbsp;&nbsp;1639684 |  |
| **Germany - 0.5%** | **Germany - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;766558 | 0.5% |
| **Hong Kong - 0.1%** | **Hong Kong - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;142747 | 0.1% |
| **Italy - 0.3%** | **Italy - 0.3%** |  |  |
| Assicurazioni Generali SpA 2.429%, 07/14/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;526798 | 0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;526798 |  |
| **Japan - 0.1%** | **Japan - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;121379 | 0.1% |
| **Luxembourg - 0.2%** | **Luxembourg - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;312616 | 0.2% |
| **Macau - 0.2%** | **Macau - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;281850 | 0.2% |
| **Malta - 0.1%** | **Malta - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;147441 | 0.1% |
| **Mexico - 0.2%** | **Mexico - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;293100 | 0.2% |
| **Netherlands - 0.7%** | **Netherlands - 0.7%** | &nbsp;&nbsp;&nbsp;1221631 | 0.7% |
| **Norway - 0.6%** | **Norway - 0.6%** |  |  |
| Var Energi ASA 7.500%, 01/15/2028 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;468557 | 0.3% |
| Var Energi ASA 8.000%, 11/15/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;438905 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43845 | 0.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;951307 |  |
| **Singapore - 0.1%** | **Singapore - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;180338 | 0.1% |
| **Spain - 0.2%** | **Spain - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;289297 | 0.2% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Switzerland - 0.6%** | **Switzerland - 0.6%** |  |  |
| Credit Suisse Group AG 6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (D) | $500000 | $&nbsp;&nbsp;&nbsp;&nbsp;438697 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;463180 | &nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;901877 |  |
| **United Arab Emirates - 0.2%** | **United Arab Emirates - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;276514 | &nbsp;&nbsp;0.2% |
| **United Kingdom - 1.4%** | **United Kingdom - 1.4%** |  |  |
| HSBC Holdings PLC 5.402%, (5.402% to 8-11-32, then SOFR + 2.870%), 08/11/2033 | 475000 | &nbsp;&nbsp;&nbsp;&nbsp;439861 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1816834 | &nbsp;&nbsp;&nbsp;1.1% |
|  |  | &nbsp;&nbsp;&nbsp;2256695 |  |
| **United States - 14.7%** | **United States - 14.7%** |  |  |
| Bank of America Corp. 2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 670000 | &nbsp;&nbsp;&nbsp;&nbsp;536257 | &nbsp;&nbsp;&nbsp;0.3% |
| Black Knight InfoServ LLC 3.625%, 09/01/2028 (D) | 675000 | &nbsp;&nbsp;&nbsp;&nbsp;585563 | &nbsp;&nbsp;&nbsp;0.4% |
| Builders FirstSource, Inc. 5.000%, 03/01/2030 (D) | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;460761 | &nbsp;&nbsp;&nbsp;0.3% |
| FirstCash, Inc. 4.625%, 09/01/2028 (D) | 616000 | &nbsp;&nbsp;&nbsp;&nbsp;540824 | &nbsp;&nbsp;&nbsp;0.3% |
| JPMorgan Chase & Co. 4.912%, (4.912% to 7-25-32, then SOFR + 2.080%), 07/25/2033 | 810000 | &nbsp;&nbsp;&nbsp;&nbsp;771223 | &nbsp;&nbsp;&nbsp;0.5% |
| Nationstar Mortgage Holdings, Inc. 5.750%, 11/15/2031 (D) | 526000 | &nbsp;&nbsp;&nbsp;&nbsp;408965 | &nbsp;&nbsp;&nbsp;0.3% |
| Reynolds American, Inc. 5.850%, 08/15/2045 | 580000 | &nbsp;&nbsp;&nbsp;&nbsp;494042 | &nbsp;&nbsp;&nbsp;0.3% |
| United Wholesale Mortgage LLC 5.500%, 04/15/2029 (D) | 544000 | &nbsp;&nbsp;&nbsp;&nbsp;432741 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | 19419448 | 12.0% |
|  |  | 23649824 |  |
| TOTAL CORPORATE BONDS (Cost $41,370,629) | TOTAL CORPORATE BONDS (Cost $41,370,629) | $36595452 |  |
| **CONVERTIBLE BONDS - 3.8%** | **CONVERTIBLE BONDS - 3.8%** |  |  |
| **Canada - 0.0%** | **Canada - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64031 | &nbsp;&nbsp;0.0% |
| **China - 0.4%** | **China - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;566406 | &nbsp;&nbsp;0.4% |
| **Israel - 0.0%** | **Israel - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29796 | &nbsp;&nbsp;0.0% |
| **Italy - 0.1%** | **Italy - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90095 | &nbsp;&nbsp;0.1% |
| **Luxembourg - 0.1%** | **Luxembourg - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;126500 | &nbsp;&nbsp;0.1% |
| **Singapore - 0.2%** | **Singapore - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;314975 | &nbsp;&nbsp;0.2% |
| **United Kingdom - 0.2%** | **United Kingdom - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;403680 | &nbsp;&nbsp;0.2% |
| **United States - 2.8%** | **United States - 2.8%** | &nbsp;&nbsp;&nbsp;4522210 | &nbsp;&nbsp;2.8% |
| TOTAL CONVERTIBLE BONDS (Cost $7,318,085) | TOTAL CONVERTIBLE BONDS (Cost $7,318,085) | $&nbsp;&nbsp;&nbsp;6117693 |  |
| **MUNICIPAL BONDS - 3.8%** | **MUNICIPAL BONDS - 3.8%** |  |  |
| Commonwealth of Massachusetts, GO<br> 2.514%, 07/01/2041 | 625000 | &nbsp;&nbsp;&nbsp;&nbsp;450029 | &nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;5578247 | &nbsp;&nbsp;&nbsp;3.5% |
| TOTAL MUNICIPAL BONDS (Cost $7,233,480) | TOTAL MUNICIPAL BONDS (Cost $7,233,480) | $&nbsp;&nbsp;&nbsp;6028276 |  |
| **TERM LOANS (E) - 3.9%** |  |  |  |
| **Luxembourg - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;233526 | &nbsp;&nbsp;&nbsp;0.1% |
| **Netherlands - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;158958 | &nbsp;&nbsp;&nbsp;0.1% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **TERM LOANS (continued)** |  |  |  |
| **Sweden - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156242 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| **United States - 3.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;5718496 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| TOTAL TERM LOANS (Cost $6,562,852) | TOTAL TERM LOANS (Cost $6,562,852) | $&nbsp;&nbsp;&nbsp;&nbsp;6267222 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 3.3%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 3.3%** |  |  |
| **United States - 3.3%** | **United States - 3.3%** |  |  |
| Federal Home Loan Mortgage Corp.<br> Series 2022-HQA1, Class M2 (1 month SOFR + 5.250%), 9.178%, 03/25/2042 (D)(F) | $&nbsp;&nbsp;&nbsp;&nbsp;560000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543263 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;4640423 | &nbsp;&nbsp;&nbsp;&nbsp;2.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5183686 |  |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $5,456,835) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $5,456,835) | $&nbsp;&nbsp;&nbsp;&nbsp;5183686 |  |
| **ASSET BACKED SECURITIES - 3.2%** | **ASSET BACKED SECURITIES - 3.2%** |  |  |
| **Cayman Islands - 2.0%** |  | &nbsp;&nbsp;&nbsp;3191206 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| **United States - 1.2%** |  | &nbsp;&nbsp;&nbsp;1979868 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| TOTAL ASSET BACKED SECURITIES (Cost $5,665,497) | TOTAL ASSET BACKED SECURITIES (Cost $5,665,497) | $&nbsp;&nbsp;&nbsp;&nbsp;5171074 |  |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |  |
| **United States - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $12,163) | TOTAL COMMON STOCKS (Cost $12,163) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 |  |
| **PREFERRED SECURITIES - 0.2%** | **PREFERRED SECURITIES - 0.2%** |  |  |
| **Bermuda - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29805 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **United States - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333669 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| TOTAL PREFERRED SECURITIES (Cost $368,074) | TOTAL PREFERRED SECURITIES (Cost $368,074) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363474 |  |
| **EXCHANGE-TRADED FUNDS - 0.3%** | **EXCHANGE-TRADED FUNDS - 0.3%** |  |  |
| **United States - 0.3%** |  |  |  |
| SPDR Bloomberg Convertible Securities ETF (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488984 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $426,512) | TOTAL EXCHANGE-TRADED FUNDS (Cost $426,512) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488984 |  |
| **SHORT-TERM INVESTMENTS - 9.6%** | **SHORT-TERM INVESTMENTS - 9.6%** |  |  |
| **U.S. Government - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67742 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| **Short-term funds - 9.6%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (H)(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291498 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (H) | 15039801 | &nbsp;&nbsp;15039801 | &nbsp;&nbsp;&nbsp;&nbsp;9.4% |
|  |  | &nbsp;&nbsp;&nbsp;15331299 |  |
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,398,894) | TOTAL SHORT-TERM INVESTMENTS (Cost $15,398,894) | $&nbsp;&nbsp;&nbsp;15399041 |  |
| **Total Investments (Opportunistic Fixed Income Trust) (Cost $203,850,443) - 111.8%** | **Total Investments (Opportunistic Fixed Income Trust) (Cost $203,850,443) - 111.8%** | $**179235288** | **111.8%** |
| **Other assets and liabilities, net - (11.8)%** | **Other assets and liabilities, net - (11.8)%** | &nbsp;&nbsp;**(18884960)** | **(11.8%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**160350328** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| EUR | Euro |
| IDR | Indonesian Rupiah |
| ISK | Icelandic Krona |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| RUB | Russian Ruble |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| GO | General Obligation |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Non-income producing security. |
| (C) | Non-income producing - Issuer is in default. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $29,410,746 or 18.3% of the fund's net assets as of 12-31-22. |
| (E) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (F) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (G) | All or a portion of this security is on loan as of 12-31-22. |
| (H) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
| \* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3741686 | &nbsp;&nbsp;&nbsp;&nbsp;$3542915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(198771) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12325662 | &nbsp;&nbsp;&nbsp;&nbsp;12240359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85303) |
| 30-Day Federal Funds Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7540496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7530144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10352) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25332110 | &nbsp;&nbsp;&nbsp;&nbsp;25147617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184493) |
| Euro SCHATZ Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1194) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41586) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2139) |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(822002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(814586) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7416 |
| 10-Year Japan Government Bond Future | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7914307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7758458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155849 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6162766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6152344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10422 |
| 5-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(164653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5126603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4780328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346275 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4865255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4053492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811763 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2310411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2180292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130119 |
| German Euro BOBL Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1271330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1239045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32285 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1502746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1422949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79797 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(612776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(603871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5639596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5640469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(873) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1058804** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| BRL | &nbsp;&nbsp;46699000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8913790 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/4/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(68863) |
| BRL | &nbsp;&nbsp;5310000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1021773 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21523) |
| BRL | &nbsp;&nbsp;637000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;116486 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;$2925 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;1309000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;245756 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(370) |
| CAD | &nbsp;&nbsp;1965000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1444439 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;7712 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;60000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;44168 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;192 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;44200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49579 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;2382 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;75567000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;85541 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2683 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;125527000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;142617 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;3936 | &nbsp;&nbsp;— |
| CNH | &nbsp;&nbsp;2502000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;363038 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;650 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;2846869000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;592111 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7852) |
| COP | &nbsp;&nbsp;528200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;110110 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1709) |
| CZK | &nbsp;&nbsp;3170000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;139004 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1379 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;2754000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;118050 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;3640 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;1070000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;46094 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;1186 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;830000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30515 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1161 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;4900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;171030 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;2/15/2023 | &nbsp;&nbsp;12203 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2420000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;91114 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;6/1/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5384) |
| EUR | &nbsp;&nbsp;5515000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5885826 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;25537 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;171002 | &nbsp;&nbsp;USD | &nbsp;&nbsp;181656 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1636 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;39000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;41322 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;605 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;32182 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;70 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1646000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2002135 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12847) |
| GBP | &nbsp;&nbsp;29000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;36118 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1033) |
| HUF | &nbsp;&nbsp;30600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;79805 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1336 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;768098000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1999469 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;37281 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;133756000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;329044 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp;21229 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;2860000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;183569 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;95 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;29730240000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1908476 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;740 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;9872212000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;630933 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2644 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;404000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3064186 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;11306 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;1229517000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;959572 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;13283 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;47800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;99034 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2421 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;3990000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;199718 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;3902 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;38048000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1916332 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;25359 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;990000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49136 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;991 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;4724000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;233784 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;5412 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| MXN | &nbsp;&nbsp;4724000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;234366 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;$4830 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;13542000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1379473 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1582) |
| NOK | &nbsp;&nbsp;21520000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2185393 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4257 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;5442000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3440351 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;12751 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;64994 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;390 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;215000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;55931 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;86 | &nbsp;&nbsp;— |
| PHP | &nbsp;&nbsp;67468000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1221140 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11440) |
| PHP | &nbsp;&nbsp;41655000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;743441 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;3432 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;830000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;188150 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1277 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;551000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;124328 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1424 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;2757000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;606618 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;20218 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;130000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;29307 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;250 | &nbsp;&nbsp;— |
| RON | &nbsp;&nbsp;505000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;109071 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| RON | &nbsp;&nbsp;2175000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;461834 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;6560 | &nbsp;&nbsp;— |
| SEK | &nbsp;&nbsp;30048000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2897589 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8495) |
| SGD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;33205 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;404 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;7300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;211616 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276) |
| THB | &nbsp;&nbsp;23551000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;683232 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;1373 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;5618000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;162393 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;917 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;3481000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;182184 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(263) |
| TRY | &nbsp;&nbsp;590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30926 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91) |
| TRY | &nbsp;&nbsp;2255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;114714 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558) |
| USD | &nbsp;&nbsp;4260963 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;6386000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(89524) |
| USD | &nbsp;&nbsp;8668364 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;46699000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/4/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(176563) |
| USD | &nbsp;&nbsp;339050 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1799000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;171 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;7750657 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;40279000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;163262 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;330984 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1769000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(632) |
| USD | &nbsp;&nbsp;5101478 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6940000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27236) |
| USD | &nbsp;&nbsp;43923 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;60000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(437) |
| USD | &nbsp;&nbsp;1997550 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;1843000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2375) |
| USD | &nbsp;&nbsp;354302 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;316002000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(17185) |
| USD | &nbsp;&nbsp;4888344 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;33903000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(23086) |
| USD | &nbsp;&nbsp;360978 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;2502000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2710) |
| USD | &nbsp;&nbsp;192388 | &nbsp;&nbsp;COP | &nbsp;&nbsp;925000000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;2551 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;476251 | &nbsp;&nbsp;COP | &nbsp;&nbsp;2284338000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;7440 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;453260 | &nbsp;&nbsp;COP | &nbsp;&nbsp;2238062000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2124) |
| USD | &nbsp;&nbsp;2246556 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;51325000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26369) |
| USD | &nbsp;&nbsp;12505 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;286000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132) |
| USD | &nbsp;&nbsp;54579 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;1490000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2285) |
| USD | &nbsp;&nbsp;10672559 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10000154 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(46306) |
| USD | &nbsp;&nbsp;24505 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;23000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148) |
| USD | &nbsp;&nbsp;249720 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3997) |
| USD | &nbsp;&nbsp;85952 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;80000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) |
| USD | &nbsp;&nbsp;39628 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;37000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) |
| USD | &nbsp;&nbsp;148396 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;122000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;952 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;71156 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;58000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;986 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;260250 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;2026000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;400 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;82850 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;31664000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1113) |
| USD | &nbsp;&nbsp;147078 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;56500000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2742) |
| USD | &nbsp;&nbsp;21861 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;8627000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(731) |
| USD | &nbsp;&nbsp;345487 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;5382000000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134) |
| USD | &nbsp;&nbsp;1938178 | &nbsp;&nbsp;INR | &nbsp;&nbsp;160735000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1872) |
| USD | &nbsp;&nbsp;7384938 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;973673000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27247) |
| USD | &nbsp;&nbsp;424970 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;56578000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5736) |
| USD | &nbsp;&nbsp;843809 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;110300000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4139 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;13247774 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;16974611000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(183394) |
| USD | &nbsp;&nbsp;47173 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;22900000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1432) |
| USD | &nbsp;&nbsp;359614 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;7140000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4759) |
| USD | &nbsp;&nbsp;52451 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;1047000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(563) |
| USD | &nbsp;&nbsp;146828 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;2954000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2745) |
| USD | &nbsp;&nbsp;804267 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1270000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1583) |
| USD | &nbsp;&nbsp;5799665 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;9174000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21495) |
| USD | &nbsp;&nbsp;89325 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;140000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;452 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;116426 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;450000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1264) |
| USD | &nbsp;&nbsp;430020 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;1655000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1186) |
| USD | &nbsp;&nbsp;34513 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;1940000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;2331997 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;10304000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(19633) |
| USD | &nbsp;&nbsp;18203 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;81000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214) |
| USD | &nbsp;&nbsp;183513 | &nbsp;&nbsp;RON | &nbsp;&nbsp;850000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66) |
| USD | &nbsp;&nbsp;18243 | &nbsp;&nbsp;RON | &nbsp;&nbsp;85000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62) |
| USD | &nbsp;&nbsp;2149245 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;22278000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;$7231 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2017957 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2724000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15263) |
| USD | &nbsp;&nbsp;7412 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;10000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57) |
| USD | &nbsp;&nbsp;89653 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;120000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;28 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;377189 | &nbsp;&nbsp;THB | &nbsp;&nbsp;13030000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) |
| USD | &nbsp;&nbsp;9655 | &nbsp;&nbsp;THB | &nbsp;&nbsp;330000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;62 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;317223 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;6073000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158) |
| USD | &nbsp;&nbsp;608705 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;10563000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11072) |
| USD | &nbsp;&nbsp;371282 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;6482000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7655) |
| UYU | &nbsp;&nbsp;3270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;83325 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(958) |
| UYU | &nbsp;&nbsp;2380000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;58570 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;1379 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;33676000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1960113 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;15803 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;3430000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;196788 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4465 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;80000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4691 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$461386** | &nbsp;&nbsp;**$(877012)** |

---

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;52320000 | MXN | MXN TIIE Banxico | Fixed 7.840% | Monthly | Monthly | Mar 2027 | &nbsp;&nbsp;&nbsp;$2212 | &nbsp;&nbsp;&nbsp;$(101639) | &nbsp;&nbsp;&nbsp;&nbsp;$(99427) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | NZD | NZD BBR FRA | Fixed 2.660% | Semi-Annual | Quarterly | Mar 2027 | &nbsp;&nbsp;(17150) | &nbsp;&nbsp;&nbsp;&nbsp;(414399) | &nbsp;&nbsp;&nbsp;&nbsp;(431549) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540000 | NZD | NZD BBR FRA | Fixed 2.750% | Semi-Annual | Quarterly | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;5792 | &nbsp;&nbsp;&nbsp;&nbsp;(322680) | &nbsp;&nbsp;&nbsp;&nbsp;(316888) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;783430000 | HUF | HUF BUBOR Reuters | Fixed 5.130% | Annual | Semi-Annual | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp;(417042) | &nbsp;&nbsp;&nbsp;&nbsp;(415840) |
| Centrally cleared | 1433300000 | HUF | HUF BUBOR Reuters | Fixed 5.000% | Annual | Semi-Annual | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;7686 | &nbsp;&nbsp;&nbsp;&nbsp;(787408) | &nbsp;&nbsp;&nbsp;&nbsp;(779722) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675000 | PLN | Fixed 6.445% | PLN WIBOR WIBO | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12089) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12089) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;141675000 | HUF | HUF BUBOR Reuters | Fixed 11.150% | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675000 | PLN | Fixed 6.463% | PLN WIBOR WIBO | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12871) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;308390000 | INR | Fixed 6.410% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;(15441) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11134 |
| Centrally cleared | 3846680000 | KRW | KRW CD KSDA Bloomberg | Fixed 4.320% | Quarterly | Quarterly | Mar 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;106028 | &nbsp;&nbsp;&nbsp;&nbsp;106028 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;18235000 | SEK | SEK STIBOR SIDE | Fixed 2.920% | Annual | Quarterly | Mar 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30694) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;17445000 | MXN | MXN TIIE Banxico | Fixed 6.940% | Monthly | Monthly | Sep 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98082) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;21005000 | ZAR | ZAR JIBAR SAFEX | Fixed 9.255% | Quarterly | Quarterly | Mar 2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 |
|  |  |  |  |  |  |  |  | **$(15976)** | **$(2063632)** | **$(2079608)** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;$585000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2026 | &nbsp;&nbsp;$28358 | &nbsp;&nbsp;$(6577) | &nbsp;&nbsp;$21781 |
| BARC | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;20176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95) | &nbsp;&nbsp;&nbsp;20081 |
| BOA | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;2345000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2345000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;150169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(452) | &nbsp;&nbsp;149717 |
| BOA | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;39828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(244) | &nbsp;&nbsp;&nbsp;39584 |
| CITI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;41520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(939) | &nbsp;&nbsp;&nbsp;40581 |
| GSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;61276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(942) | &nbsp;&nbsp;&nbsp;60334 |
| GSI | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;(1358) | &nbsp;&nbsp;&nbsp;&nbsp;1701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 |
| JPM | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;10221 | &nbsp;&nbsp;&nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;11333 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** | **Credit default swaps - Buyer (continued)** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  | &nbsp;&nbsp;**Value** |
| MSI | &nbsp;&nbsp;Government of Japan | &nbsp;&nbsp;9570000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;$9570000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2024 | &nbsp;&nbsp;$(137716) | &nbsp;&nbsp;$(28732) | &nbsp;&nbsp;$(166448) |
|  |  |  |  | &nbsp;&nbsp;**$16800000** |  |  |  | &nbsp;&nbsp;&nbsp;**$212474** | &nbsp;&nbsp;**$(35168)** | &nbsp;&nbsp;&nbsp;**$177306** |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.38 | &nbsp;&nbsp;&nbsp;&nbsp;831600 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831600 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;(23574) | &nbsp;&nbsp;&nbsp;&nbsp;(18857) |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.38 | &nbsp;&nbsp;7590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;7590000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;440899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;441461 |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32450 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32450 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;**$8454050** |  |  |  | &nbsp;&nbsp;&nbsp;**$445066** | &nbsp;&nbsp;**$(22727)** | &nbsp;&nbsp;&nbsp;**$422339** |
|  |  |  |  | &nbsp;&nbsp;**$25254050** |  |  |  | &nbsp;&nbsp;&nbsp;**$657540** | &nbsp;&nbsp;**$(57895)** | &nbsp;&nbsp;&nbsp;**$599645** |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | CDX.NA.HY.39 | 4.832% | 110000 | USD | $110000 | 5.000% | Quarterly | Dec 2027 | $(2695) | $3594 | $899 |
|  |  |  |  |  | **$110000** |  |  |  | **$(2695)** | **$3594** | **$899** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** |
| **Pay/<br> receive<br> total<br> return\*** | &nbsp;&nbsp;**Reference<br> entity** | &nbsp;&nbsp;**Floating/<br> fixed<br> rate** | &nbsp;&nbsp;**Payment<br> frequency** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Counterparty<br> (OTC)** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;4220000 | &nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;$163229 | &nbsp;&nbsp;$163229 |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;1610000 | &nbsp;&nbsp;Jun 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(58012) | &nbsp;&nbsp;(58012) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;1560000 | &nbsp;&nbsp;Jun 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(27754) | &nbsp;&nbsp;(27754) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$77463** | &nbsp;&nbsp;**$77463** |

---

\* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** |
| **Counterparty (OTC)/<br> Centrally<br> cleared** | **Notional<br> amount** | **Currency** | **USD notional<br> amount** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| BARC | 2970000 | USD | $2970000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | $(5013) | $(5013) |
| BARC | 2990000 | USD | 2990000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | (5047) | (5047) |
| BARC | 5640000 | USD | 5640000 | Fixed 3.147% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | 16446 | 16446 |
| BOA | 640000 | USD | 640000 | Fixed 1.635% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 |  | 160802 | 160802 |
| CITI | 1855000 | USD | 1855000 | Fixed 3.257% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | (4430) | (4430) |
| CITI | 1730000 | USD | 1730000 | Fixed 3.257% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 | $(197) | (3935) | (4132) |
| CITI | 780000 | USD | 780000 | Fixed 2.578% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2051 |  | 32636 | 32636 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** | **Inflation swaps (continued)** |
| **Counterparty (OTC)/<br> Centrally<br> cleared** | **Notional<br> amount** | **Currency** | **USD notional<br> amount** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| JPM | 2330000 | USD | $2330000 | Fixed 1.830% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 | $(54849) | $544898 | $490049 |
|  |  |  | **$18935000** |  |  |  |  |  | **$(55046)** | **$736357** | **$681311** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| BBR | Bank Bill Rate |
| BOA | Bank of America, N.A. |
| BUBOR | Budapest Interbank Offered Rate |
| CITI | Citibank, N.A. |
| CPI | Consumer Price Index |
| GSI | Goldman Sachs International |
| JIBAR | Johannesburg Interbank Agreed Rate |
| JPM | JPMorgan Chase Bank, N.A. |
| KSDA | Korea Securities Dealers Association |
| MIBOR | Mumbai Interbank Offered Rate |
| MSI | Morgan Stanley & Co. International PLC |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |
| SSB | State Street Bank and Trust Company |
| STIBOR | Stockholm Interbank Offered Rate |
| TIIE | Tasa de Interes Interbancario de Equilibrio (Interbank Equilibrium Interest Rate) |
| WIBOR | Warsaw Interbank Offered Rate |

---

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 43.2%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 43.2%** |  |  |
| **U.S. Treasury Bonds - 11.8%** | **U.S. Treasury Bonds - 11.8%** |  |  |
| 2.500%, 02/15/2045 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83239000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62666610 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 3.000%, 02/15/2047<br> to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532801000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438774818 | &nbsp;&nbsp;&nbsp;&nbsp;7.3% |
| 3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14554719 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
| 4.000%, 11/15/2042<br> to 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188961563 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704957710 |  |
| **U.S. Treasury Notes - 2.1%** | **U.S. Treasury Notes - 2.1%** |  |  |
| 4.125%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115888513 | &nbsp;&nbsp;&nbsp;&nbsp;1.9% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8756848 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124645361 |  |
| **Federal Home Loan Mortgage Corp. - 8.5%** | **Federal Home Loan Mortgage Corp. - 8.5%** |  |  |
| 2.000%, 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62437798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51188086 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| 2.500%, 08/01/2051<br> to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40046849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34332280 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 3.000%, 03/01/2043<br> to 12/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95431990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85821938 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 3.500%, 04/01/2044<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64877030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60491763 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 3.500%, 03/01/2052<br> to 04/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53351614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48855574 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 4.000%, 03/01/2048<br> to 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72049994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68278376 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 4.500%, 12/01/2037<br> to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74167613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72201228 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| 5.000%, 10/01/2052<br> to 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57453860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57006608 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| 5.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29293577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29715536 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507891389 |  |
| **Federal National Mortgage Association - 20.7%** | **Federal National Mortgage Association - 20.7%** |  |  |
| 2.500%, 12/01/2050<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;223653843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191263286 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| 3.000%, 01/01/2043<br> to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;191278107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170887309 | &nbsp;&nbsp;&nbsp;&nbsp;2.8% |
| 3.500%, 06/01/2042<br> to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;162939337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151607802 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| 4.000%, 09/01/2040<br> to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;316735646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303327228 | &nbsp;&nbsp;&nbsp;&nbsp;5.2% |
| 4.500%, 07/01/2037<br> to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;189250006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185002843 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| 4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31975078 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 5.000%, 10/01/2052<br> to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59057097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58404922 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 5.500%, 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26356884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26662413 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 5.500%, 12/01/2052<br> to 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92515693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93796685 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19563507 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1232491073 |  |
| **Government National Mortgage<br> Association - 0.1%** | **Government National Mortgage<br> Association - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487247 | &nbsp;&nbsp;&nbsp;0.1% |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,733,452,021) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,733,452,021) | $&nbsp;&nbsp;&nbsp;&nbsp;2572472780 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.1%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.1%** |  |  |
| **Qatar - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8464213 | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,410,000) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,410,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8464213 |  |

---

#### Select Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS - 30.5%** | **CORPORATE BONDS - 30.5%** |  |  |
| **Communication services - 2.1%** | **Communication services - 2.1%** |  |  |
| Verizon Communications, Inc.<br> 4.329%, 09/21/2028 | $17379000 | $&nbsp;&nbsp;&nbsp;16709627 | 0.3% |
| OTHER SECURITIES |  | 107121819 | 1.8% |
|  |  | 123831446 |  |
| **Consumer discretionary - 2.7%** | **Consumer discretionary - 2.7%** |  |  |
| Expedia Group, Inc.<br> 3.800%, 02/15/2028 | 16524000 | &nbsp;&nbsp;&nbsp;15169000 | 0.3% |
| General Motors Financial Company, Inc.<br> 2.400%, 10/15/2028 | 17219000 | &nbsp;&nbsp;&nbsp;14278098 | 0.2% |
| General Motors Financial Company, Inc.<br> 3.600%, 06/21/2030 | 20346000 | &nbsp;&nbsp;&nbsp;17122430 | 0.3% |
| OTHER SECURITIES |  | 116320934 | 1.9% |
|  |  | 162890462 |  |
| **Consumer staples - 0.6%** | **Consumer staples - 0.6%** | &nbsp;&nbsp;&nbsp;38175758 | 0.6% |
| **Energy - 3.2%** | **Energy - 3.2%** |  |  |
| Energy Transfer LP<br> 5.250%, 04/15/2029 | 17785000 | &nbsp;&nbsp;&nbsp;17197312 | 0.3% |
| OTHER SECURITIES |  | 172518440 | 2.9% |
|  |  | 189715752 |  |
| **Financials - 8.8%** | **Financials - 8.8%** |  |  |
| Bank of America Corp.<br> 2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 19364000 | &nbsp;&nbsp;&nbsp;15498638 | 0.2% |
| Bank of America Corp.<br> 4.271%, (4.271% to 7-23-28, then 3 month LIBOR + 1.310%), 07/23/2029 | 17187000 | &nbsp;&nbsp;&nbsp;16026882 | 0.3% |
| Citigroup, Inc.<br> 4.600%, 03/09/2026 | 17394000 | &nbsp;&nbsp;&nbsp;17084727 | 0.3% |
| Santander Holdings USA, Inc.<br> 3.244%, 10/05/2026 | 16909000 | &nbsp;&nbsp;&nbsp;15692670 | 0.3% |
| Santander Holdings USA, Inc.<br> 3.450%, 06/02/2025 | 15455000 | &nbsp;&nbsp;&nbsp;14726919 | 0.2% |
| The Goldman Sachs Group, Inc.<br> 2.615%, (2.615% to 4-22-31, then SOFR + 1.281%), 04/22/2032 | 23362000 | &nbsp;&nbsp;&nbsp;18630981 | 0.3% |
| Wells Fargo & Company<br> 2.393%, (2.393% to 6-2-27, then SOFR + 2.100%), 06/02/2028 | 19183000 | &nbsp;&nbsp;&nbsp;16930700 | 0.3% |
| Wells Fargo & Company<br> 5.875%, (5.875% to 6-15-25, then 3 month LIBOR + 3.990%), 06/15/2025 (B) | 22240000 | &nbsp;&nbsp;&nbsp;21461600 | 0.4% |
| OTHER SECURITIES |  | 386399155 | 6.5% |
|  |  | 522452272 |  |
| **Health care - 1.6%** | **Health care - 1.6%** |  |  |
| AbbVie, Inc.<br> 3.200%, 11/21/2029 | 21219000 | &nbsp;&nbsp;&nbsp;19128377 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;79493364 | 1.3% |
|  |  | &nbsp;&nbsp;&nbsp;98621741 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Industrials - 4.8%** | **Industrials - 4.8%** |  |  |
| AerCap Ireland Capital DAC<br> 2.450%, 10/29/2026 | $24766000 | $&nbsp;&nbsp;&nbsp;&nbsp;21656423 | 0.4% |
| The Boeing Company<br> 5.150%, 05/01/2030 | 17787000 | &nbsp;&nbsp;&nbsp;&nbsp;17353696 | 0.3% |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | 14871062 | &nbsp;&nbsp;&nbsp;&nbsp;14649484 | 0.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;230430560 | 3.9% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;284090163 |  |
| **Information technology - 3.4%** | **Information technology - 3.4%** |  |  |
| Broadcom, Inc.<br> 4.750%, 04/15/2029 | 25279000 | &nbsp;&nbsp;&nbsp;&nbsp;24078754 | 0.4% |
| Micron Technology, Inc.<br> 4.185%, 02/15/2027 | 14953000 | &nbsp;&nbsp;&nbsp;&nbsp;14157462 | 0.2% |
| Micron Technology, Inc.<br> 5.327%, 02/06/2029 | 19168000 | &nbsp;&nbsp;&nbsp;&nbsp;18399731 | 0.3% |
| Oracle Corp.<br> 2.950%, 04/01/2030 | 18106000 | &nbsp;&nbsp;&nbsp;&nbsp;15437217 | 0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;130332870 | 2.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;202406034 |  |
| **Materials - 0.5%** | **Materials - 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;28392350 | 0.5% |
| **Real estate - 1.6%** | **Real estate - 1.6%** | &nbsp;&nbsp;&nbsp;&nbsp;95522307 | 1.6% |
| **Utilities - 1.2%** | **Utilities - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;71801853 | 1.2% |
| TOTAL CORPORATE BONDS (Cost $2,094,576,743) | TOTAL CORPORATE BONDS (Cost $2,094,576,743) | $1817900138 |  |
| **MUNICIPAL BONDS - 0.9%** | **MUNICIPAL BONDS - 0.9%** | &nbsp;&nbsp;&nbsp;&nbsp;54095963 | 0.9% |
| TOTAL MUNICIPAL BONDS (Cost $72,592,891) |  | $&nbsp;&nbsp;&nbsp;&nbsp;54095963 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 10.6%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 10.6%** |  |  |
| **Commercial and residential - 8.2%** | **Commercial and residential - 8.2%** |  |  |
| BPR Trust<br> Series 2022-OANA, Class A (1 month CME Term SOFR + 1.898%), 6.234%, 04/15/2037 (C)(D) | 16875000 | &nbsp;&nbsp;&nbsp;&nbsp;16469951 | 0.3% |
| BX Commercial Mortgage Trust<br> Series 2021-CIP, Class A (1 month LIBOR + 0.921%), 5.239%, 12/15/2038 (C)(D) | 14619000 | &nbsp;&nbsp;&nbsp;&nbsp;14105736 | 0.2% |
| BXHPP Trust<br> Series 2021-FILM, Class C (1 month LIBOR + 1.100%), 5.418%, 08/15/2036 (C)(D) | 17743000 | &nbsp;&nbsp;&nbsp;&nbsp;15959520 | 0.3% |
| Life Mortgage Trust<br> Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%), 5.631%, 05/15/2039 (C)(D) | 16812000 | &nbsp;&nbsp;&nbsp;&nbsp;16390811 | 0.3% |
| SMRT<br> Series 2022-MINI, Class A (1 month CME Term SOFR + 1.000%), 5.336%, 01/15/2039 (C)(D) | 16836000 | &nbsp;&nbsp;&nbsp;&nbsp;16245321 | 0.3% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |  |
| **Commercial and residential (continued)** | **Commercial and residential (continued)** |  |  |
| OTHER SECURITIES |  | $&nbsp;&nbsp;&nbsp;&nbsp;411478087 | &nbsp;&nbsp;&nbsp;&nbsp;6.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;490649426 |  |
| **Federal Home Loan Mortgage Corp. - 0.9%** | **Federal Home Loan Mortgage Corp. - 0.9%** | &nbsp;&nbsp;&nbsp;&nbsp;56541391 | &nbsp;&nbsp;&nbsp;0.9% |
| **Federal National Mortgage Association - 0.4%** | **Federal National Mortgage Association - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;21207405 | &nbsp;&nbsp;&nbsp;0.4% |
| **Government National Mortgage<br> Association - 1.1%** | **Government National Mortgage<br> Association - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;64500378 | &nbsp;&nbsp;&nbsp;1.1% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $763,135,633) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $763,135,633) | $&nbsp;&nbsp;&nbsp;&nbsp;632898600 |  |
| **ASSET BACKED SECURITIES - 13.8%** | **ASSET BACKED SECURITIES - 13.8%** |  |  |
| Progress Residential Trust<br> Series 2021-SFR2, Class A, 1.546%, 04/19/2038 (C) | $19357702 | &nbsp;&nbsp;&nbsp;&nbsp;16911030 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;801098990 | &nbsp;&nbsp;&nbsp;13.5% |
| TOTAL ASSET BACKED SECURITIES (Cost $915,468,103) |  | $&nbsp;&nbsp;818010020 |  |
| **SHORT-TERM INVESTMENTS - 3.3%** | **SHORT-TERM INVESTMENTS - 3.3%** |  |  |
| **Short-term funds - 3.3%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 19524239 | &nbsp;&nbsp;&nbsp;&nbsp;195160389 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $195,134,100) | TOTAL SHORT-TERM INVESTMENTS (Cost $195,134,100) | $&nbsp;&nbsp;&nbsp;&nbsp;195160389 |  |
| **Total Investments (Select Bond Trust) (Cost $6,782,769,491) - 102.4%** | **Total Investments (Select Bond Trust) (Cost $6,782,769,491) - 102.4%** | $**6099002103** | **102.4%** |
| **Other assets and liabilities, net - (2.4)%** | **Other assets and liabilities, net - (2.4)%** | &nbsp;&nbsp;&nbsp;**(140192678)** | &nbsp;&nbsp;**(2.4%)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**5958809425** | **100.0%** |
| **SALE COMMITMENTS<br> OUTSTANDING - (0.1)%** | **SALE COMMITMENTS<br> OUTSTANDING - (0.1)%** |  |  |
| **Federal National Mortgage Association - (0.1)%** | **Federal National Mortgage Association - (0.1)%** |  |  |
| 4.500%, TBA (A) | $(6000000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5971435) | &nbsp;&nbsp;&nbsp;(0.1%) |
| TOTAL SALE COMMITMENTS OUTSTANDING (Cost $(5913115)) |  | $&nbsp;&nbsp;&nbsp;&nbsp;(5971435) |  |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $1,636,333,491 or 27.5% of the fund's net assets as of 12-31-22. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$44848560 | &nbsp;&nbsp;&nbsp;&nbsp;$44873062 | &nbsp;&nbsp;&nbsp;&nbsp;$24502 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$24502** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Short Term Government Income Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 93.6%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 93.6%** |  |  |
| **U.S. Treasury Notes - 26.0%** | **U.S. Treasury Notes - 26.0%** |  |  |
| 0.875%, 06/30/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609594 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 1.125%, 10/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236035 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 2.000%, 05/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926953 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 2.125%, 03/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615625 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| 2.625%, 06/30/2023<br> to 04/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583480 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| 2.750%, 07/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180087 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| 2.875%, 11/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13127099 | &nbsp;&nbsp;&nbsp;&nbsp;8.1% |
| 3.875%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11437109 | &nbsp;&nbsp;&nbsp;&nbsp;7.1% |
| 4.250%, 10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498047 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883633 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42097662 |  |
| **Federal Farm Credit Bank - 11.0%** | **Federal Farm Credit Bank - 11.0%** |  |  |
| 0.500%, 12/23/2025<br> to 02/04/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8882499 | &nbsp;&nbsp;&nbsp;&nbsp;5.5% |
| 0.680%, 01/13/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5191786 | &nbsp;&nbsp;&nbsp;&nbsp;3.2% |
| 1.600%, 12/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797473 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 3.370%, 12/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926362 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17798120 |  |
| **Federal Home Loan Bank - 29.4%** | **Federal Home Loan Bank - 29.4%** |  |  |
| 0.625%, 11/27/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854030 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 0.650%, 02/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5324741 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| 0.700%, 01/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6239161 | &nbsp;&nbsp;&nbsp;&nbsp;3.9% |
| 0.850%, 10/28/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729665 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| 0.900%, 02/26/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726194 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 1.000%, 11/08/2024<br> to 03/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614883 | &nbsp;&nbsp;&nbsp;&nbsp;2.3% |
| 1.100%, 07/13/2026<br> to 08/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666744 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| 2.750%, 03/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425634 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| 2.875%, 09/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5339206 | &nbsp;&nbsp;&nbsp;&nbsp;3.3% |
| 3.250%, 06/09/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328013 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 3.500%, 05/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3902394 | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
| 4.130%, 08/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459828 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| 5.000%, 10/20/2025<br> to 09/14/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285024 | &nbsp;&nbsp;&nbsp;&nbsp;2.0% |
| 6.000%, 11/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501328 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| 6.125%, 11/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066447 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47463292 |  |
| **Federal Home Loan Mortgage Corp. - 14.8%** | **Federal Home Loan Mortgage Corp. - 14.8%** |  |  |
| 0.375%, 09/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753636 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| 0.640%, 11/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792046 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 0.650%, 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794919 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 0.700%, 12/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791097 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 0.800%, 10/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745709 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 1.500%, 02/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5653679 | &nbsp;&nbsp;&nbsp;&nbsp;3.5% |
| 2.500%, 09/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506714 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |

---

#### Short Term Government Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **Federal Home Loan Mortgage Corp. (continued)** | **Federal Home Loan Mortgage Corp. (continued)** |  |  |
| 3.000%, 07/01/2030<br> to 12/01/2032 | 1934995 | $&nbsp;&nbsp;&nbsp;&nbsp;1849443 | 1.2% |
| 4.050%, 08/28/2025 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1961264 | 1.2% |
| 4.250%, 08/25/2027 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1958428 | 1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1152256 | 0.7% |
|  |  | &nbsp;&nbsp;&nbsp;23959191 |  |
| **Federal National Mortgage Association - 12.4%** | **Federal National Mortgage Association - 12.4%** |  |  |
| 0.375%, 08/25/2025 | 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4509426 | 2.8% |
| 0.625%, 04/22/2025 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3674974 | 2.3% |
| 0.650%, 12/17/2025 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1789260 | 1.1% |
| 2.500%, 10/01/2027<br> to 09/01/2034 | 1944451 | &nbsp;&nbsp;&nbsp;&nbsp;1805899 | 1.1% |
| 3.000%, 03/01/2028<br> to 09/01/2034 | 5092516 | &nbsp;&nbsp;&nbsp;&nbsp;4865569 | 3.0% |
| 3.500%, 07/01/2031<br> to 06/01/2034 | 3329403 | &nbsp;&nbsp;&nbsp;&nbsp;3220639 | 2.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256937 | 0.1% |
|  |  | &nbsp;&nbsp;&nbsp;20122704 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $161,990,965) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $161,990,965) | $151440969 |  |
| **MUNICIPAL BONDS - 4.7%** | **MUNICIPAL BONDS - 4.7%** |  |  |
| City of Houston (Texas)<br> 3.628%, 05/15/2024 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984253 | 0.6% |
| City of Houston, GO (Texas)<br> 2.110%, 03/01/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942323 | 0.6% |
| City of New York, GO<br> 3.250%, 03/01/2024 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984640 | 0.6% |
| County of Orange (Florida)<br> 2.280%, 01/01/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927833 | 0.6% |
| New York State Urban Development Corp.<br> 3.080%, 03/15/2024 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982405 | 0.6% |
| State of California, GO<br> 2.375%, 10/01/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920529 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;1821395 | 1.1% |
| TOTAL MUNICIPAL BONDS (Cost $8,154,470) |  | $&nbsp;&nbsp;&nbsp;7563378 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 0.8%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 0.8%** |  |  |
| **Federal Home Loan Mortgage Corp. - 0.1%** | **Federal Home Loan Mortgage Corp. - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79635 | 0.1% |
| **Federal National Mortgage Association - 0.1%** | **Federal National Mortgage Association - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223997 | 0.1% |
| **Government National Mortgage<br> Association - 0.6%** | **Government National Mortgage<br> Association - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904534 | 0.6% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,332,194) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,332,194) | $&nbsp;&nbsp;&nbsp;&nbsp;1208166 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **SHORT-TERM INVESTMENTS - 0.3%** | **SHORT-TERM INVESTMENTS - 0.3%** |  |  |
| **Short-term funds - 0.3%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (A)(B) | 48513 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484928 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $484,880) | TOTAL SHORT-TERM INVESTMENTS (Cost $484,880) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484928 |  |
| **Total Investments (Short Term Government Income Trust) (Cost $173,962,509) - 99.4%** | **Total Investments (Short Term Government Income Trust) (Cost $173,962,509) - 99.4%** | $**160697441** | &nbsp;&nbsp;**99.4%** |
| **Other assets and liabilities, net - 0.6%** | **Other assets and liabilities, net - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;**1042839** | &nbsp;&nbsp;&nbsp;**0.6%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**161740280** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| GO | General Obligation |
| (A) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (B) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Strategic Income Opportunities Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 13.1%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 13.1%** |  |  |
| **U.S. Treasury Bonds - 3.2%** | **U.S. Treasury Bonds - 3.2%** |  |  |
| 2.375%, 02/15/2042 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3214401 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| 3.000%, 02/15/2049<br> to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6761936 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986328 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11962665 |  |
| **U.S. Treasury Notes - 6.4%** | **U.S. Treasury Notes - 6.4%** |  |  |
| 0.500%, 02/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581622 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 1.500%, 01/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225345 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| 1.875%, 02/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013912 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 2.375%, 03/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995907 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829178 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 2.875%, 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247880 | &nbsp;&nbsp;&nbsp;&nbsp;2.5% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956756 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23850600 |  |
| **Federal Home Loan Mortgage Corp. - 1.4%** | **Federal Home Loan Mortgage Corp. - 1.4%** |  |  |
| 5.000%, 08/01/2052<br> to 11/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3333953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324138 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059476 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5383614 |  |
| **Federal National Mortgage Association - 2.1%** | **Federal National Mortgage Association - 2.1%** |  |  |
| 4.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063406 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 5.500%, 10/01/2052<br> to 12/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4781213 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792930 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7637549 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $52,046,024) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $52,046,024) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48834428 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 22.4%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 22.4%** |  |  |
| **Australia - 1.4%** |  |  |  |
| Commonwealth of Australia<br> 0.250%, 11/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417571 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3733135 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5150706 |  |
| **Austria - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695598 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |

---

#### Strategic Income Opportunities Trust (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** |  |  |
| **Brazil - 0.6%** | **Brazil - 0.6%** |  |  |  |
| Federative Republic of Brazil<br> 10.000% 01/01/2025<br> to 01/01/2027 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12035000 | $&nbsp;&nbsp;&nbsp;2173560 | 0.6% |
| **Canada - 2.6%** | **Canada - 2.6%** |  |  |  |
| Province of Ontario<br> 1.350%, 12/02/2030 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5160000 | &nbsp;&nbsp;&nbsp;3132890 | 0.8% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;6473892 | 1.8% |
|  |  |  | &nbsp;&nbsp;&nbsp;9606782 |  |
| **China - 1.2%** | **China - 1.2%** |  |  |  |
| People's Republic of China<br> 1.990%, 04/09/2025 | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12420000 | &nbsp;&nbsp;&nbsp;1767854 | 0.5% |
| People's Republic of China<br> 2.880%, 11/05/2023 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14670000 | &nbsp;&nbsp;&nbsp;2122743 | 0.6% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;608712 | 0.1% |
|  |  |  | &nbsp;&nbsp;&nbsp;4499309 |  |
| **Colombia - 0.3%** | **Colombia - 0.3%** |  | &nbsp;&nbsp;1069869 | 0.3% |
| **Greece - 0.6%** | **Greece - 0.6%** |  | &nbsp;&nbsp;2394028 | 0.6% |
| **India - 0.4%** | **India - 0.4%** |  | &nbsp;&nbsp;1525549 | 0.4% |
| **Indonesia - 3.1%** | **Indonesia - 3.1%** |  |  |  |
| Republic of Indonesia<br> 6.375%, 04/15/2032 | IDR | 30847000000 | &nbsp;&nbsp;&nbsp;1904355 | 0.5% |
| Republic of Indonesia<br> 6.500%, 06/15/2025 |  | 27798000000 | &nbsp;&nbsp;&nbsp;1800306 | 0.5% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;7920646 | 2.1% |
|  |  |  | 11625307 |  |
| **Ireland - 0.1%** | **Ireland - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;301967 | 0.1% |
| **Italy - 0.5%** | **Italy - 0.5%** |  | &nbsp;&nbsp;2005953 | 0.5% |
| **Japan - 1.1%** | **Japan - 1.1%** |  |  |  |
| Government of Japan<br> 0.100%, 06/20/2025 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;447900000 | &nbsp;&nbsp;&nbsp;3416411 | 0.9% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;808856 | 0.2% |
|  |  |  | &nbsp;&nbsp;&nbsp;4225267 |  |
| **Malaysia - 1.2%** | **Malaysia - 1.2%** |  | &nbsp;&nbsp;4532212 | 1.2% |
| **Mexico - 1.7%** | **Mexico - 1.7%** |  |  |  |
| Government of Mexico<br> 7.500%, 06/03/2027 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44140000 | &nbsp;&nbsp;&nbsp;2135002 | 0.6% |
| Government of Mexico<br> 7.750%, 05/29/2031 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40230000 | &nbsp;&nbsp;&nbsp;1910391 | 0.5% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;2184042 | 0.6% |
|  |  |  | &nbsp;&nbsp;&nbsp;6229435 |  |
| **New Zealand - 1.5%** | **New Zealand - 1.5%** |  |  |  |
| Government of New Zealand<br> 0.500% 05/15/2024<br> to 05/15/2026 | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6945000 | &nbsp;&nbsp;&nbsp;4018504 | 1.1% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;1592016 | 0.4% |
|  |  |  | &nbsp;&nbsp;&nbsp;5610520 |  |
| **Norway - 1.5%** | **Norway - 1.5%** |  |  |  |
| Kingdom of Norway<br> 1.750% 03/13/2025<br> to 02/17/2027 (A) | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19650000 | &nbsp;&nbsp;&nbsp;1929041 | 0.5% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;3584780 | 1.0% |
|  |  |  | &nbsp;&nbsp;&nbsp;5513821 |  |
| **Philippines - 0.5%** | **Philippines - 0.5%** |  | &nbsp;&nbsp;2080091 | 0.5% |
| **Portugal - 0.5%** | **Portugal - 0.5%** |  |  |  |
| Republic of Portugal<br> 1.650%, 07/16/2032 (A) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780000 | &nbsp;&nbsp;&nbsp;1618088 | 0.4% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;419790 | 0.1% |
|  |  |  | &nbsp;&nbsp;&nbsp;2037878 |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT<br> OBLIGATIONS (continued)** |  |  |
| **Qatar - 0.2%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;690475 | 0.2% |
| **Singapore - 0.3%** |  | &nbsp;&nbsp;1116759 | 0.3% |
| **South Korea - 1.3%** |  |  |  |
| Republic of Korea<br> 2.375%, 03/10/2027 | 3972830000 | &nbsp;&nbsp;&nbsp;2966109 | 0.8% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1936774 | 0.5% |
|  |  | &nbsp;&nbsp;&nbsp;4902883 |  |
| **Spain - 0.5%** |  | &nbsp;&nbsp;1733930 | 0.5% |
| **Sweden - 0.3%** |  | &nbsp;&nbsp;1015031 | 0.3% |
| **United Arab Emirates - 0.4%** |  | &nbsp;&nbsp;1462235 | 0.4% |
| **United Kingdom - 0.4%** |  | &nbsp;&nbsp;1621530 | 0.4% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $95,123,503) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $95,123,503) | $83820695 |  |
| **CORPORATE BONDS - 48.5%** | **CORPORATE BONDS - 48.5%** |  |  |
| **Communication services - 5.4%** | **Communication services - 5.4%** |  |  |
| News Corp.<br> 3.875%, 05/15/2029 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;1461552 | 0.4% |
| WMG Acquisition Corp.<br> 3.000%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910000 | &nbsp;&nbsp;&nbsp;1526262 | 0.4% |
| OTHER SECURITIES |  | 17142320 | 4.6% |
|  |  | 20130134 |  |
| **Consumer discretionary - 5.6%** | **Consumer discretionary - 5.6%** |  |  |
| New Red Finance, Inc.<br> 4.000%, 10/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124000 | &nbsp;&nbsp;&nbsp;1720036 | 0.5% |
| Yum! Brands, Inc.<br> 3.625%, 03/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp;&nbsp;1505108 | 0.4% |
| Yum! Brands, Inc.<br> 4.750%, 01/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773000 | &nbsp;&nbsp;&nbsp;1626728 | 0.4% |
| OTHER SECURITIES |  | 16133876 | 4.3% |
|  |  | 20985748 |  |
| **Consumer staples - 3.4%** | **Consumer staples - 3.4%** |  |  |
| Kraft Heinz Foods Company<br> 4.250%, 03/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;1425654 | 0.4% |
| OTHER SECURITIES |  | 11308793 | 3.0% |
|  |  | 12734447 |  |
| **Energy - 6.2%** | **Energy - 6.2%** |  |  |
| Cenovus Energy, Inc.<br> 6.750%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806000 | &nbsp;&nbsp;&nbsp;1873838 | 0.5% |
| EQT Corp.<br> 3.625%, 05/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235000 | &nbsp;&nbsp;&nbsp;1894020 | 0.5% |
| OTHER SECURITIES |  | 19480873 | 5.2% |
|  |  | 23248731 |  |
| **Financials - 8.7%** | **Financials - 8.7%** |  |  |
| American International Group, Inc.<br> 8.175%, (8.175% to 5-15-38, then 3 month LIBOR + 4.195%), 05/15/2058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;1887000 | 0.5% |
| MSCI, Inc.<br> 3.625%, 09/01/2030 to 11/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2374000 | &nbsp;&nbsp;&nbsp;1969784 | 0.5% |
| Popular, Inc.<br> 6.125%, 09/14/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625000 | &nbsp;&nbsp;&nbsp;1610781 | 0.4% |
| U.S. Bancorp<br> 0.850%, 06/07/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2560000 | &nbsp;&nbsp;&nbsp;2645187 | 0.7% |
| OTHER SECURITIES |  | 24480073 | 6.6% |
|  |  | 32592825 |  |
| **Health care - 4.3%** | **Health care - 4.3%** |  |  |
| Centene Corp.<br> 3.000%, 10/15/2030 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795000 | &nbsp;&nbsp;&nbsp;1471450 | 0.4% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |  |  |
| Centene Corp.<br> 3.375%, 02/15/2030 | $| 1765000 | $&nbsp;&nbsp;&nbsp;&nbsp;1492078 | 0.4% |
| DH Europe Finance II Sarl<br> 0.450%, 03/18/2028 | EUR | 1630000 | &nbsp;&nbsp;&nbsp;&nbsp;1490535 | 0.4% |
| HCA, Inc.<br> 3.500%, 09/01/2030 | $| 3693000 | &nbsp;&nbsp;&nbsp;&nbsp;3185125 | 0.8% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8558745 | 2.3% |
|  |  |  | &nbsp;&nbsp;&nbsp;16197933 |  |
| **Industrials - 4.7%** | **Industrials - 4.7%** | **Industrials - 4.7%** |  |  |
| Delta Air Lines, Inc.<br> 4.750%, 10/20/2028 (A) |  | 3217000 | &nbsp;&nbsp;&nbsp;&nbsp;3023894 | 0.8% |
| The Boeing Company<br> 5.150%, 05/01/2030 |  | 2425000 | &nbsp;&nbsp;&nbsp;&nbsp;2365925 | 0.6% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;12278139 | 3.3% |
|  |  |  | &nbsp;&nbsp;&nbsp;17667958 |  |
| **Information technology - 1.1%** | **Information technology - 1.1%** | **Information technology - 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;4283539 | 1.1% |
| **Materials - 4.5%** | **Materials - 4.5%** | **Materials - 4.5%** |  |  |
| Freeport-McMoRan, Inc.<br> 5.450%, 03/15/2043 |  | 1905000 | &nbsp;&nbsp;&nbsp;&nbsp;1718386 | 0.5% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;15121573 | 4.0% |
|  |  |  | &nbsp;&nbsp;&nbsp;16839959 |  |
| **Real estate - 1.9%** | **Real estate - 1.9%** | **Real estate - 1.9%** |  |  |
| SBA Communications Corp.<br> 3.875%, 02/15/2027 |  | 2400000 | &nbsp;&nbsp;&nbsp;&nbsp;2168432 | 0.6% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4825929 | 1.3% |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6994361 |  |
| **Utilities - 2.7%** | **Utilities - 2.7%** | **Utilities - 2.7%** |  |  |
| FirstEnergy Corp.<br> 7.375%, 11/15/2031 |  | 1355000 | &nbsp;&nbsp;&nbsp;&nbsp;1526069 | 0.4% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8395555 | 2.3% |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;9921624 |  |
| TOTAL CORPORATE BONDS (Cost $208,381,415) | TOTAL CORPORATE BONDS (Cost $208,381,415) | TOTAL CORPORATE BONDS (Cost $208,381,415) | $181597259 |  |
| **CONVERTIBLE BONDS - 2.4%** | **CONVERTIBLE BONDS - 2.4%** | **CONVERTIBLE BONDS - 2.4%** |  |  |
| **Communication services - 0.6%** | **Communication services - 0.6%** | **Communication services - 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;2455224 | 0.6% |
| **Consumer discretionary - 0.7%** | **Consumer discretionary - 0.7%** | **Consumer discretionary - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;2726143 | 0.7% |
| **Industrials - 1.1%** | **Industrials - 1.1%** | **Industrials - 1.1%** |  |  |
| American Airlines Group, Inc.<br> 6.500%, 07/01/2025 |  | 1395000 | &nbsp;&nbsp;&nbsp;&nbsp;1470330 | 0.4% |
| OTHER SECURITIES |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2488273 | 0.7% |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3958603 |  |
| TOTAL CONVERTIBLE BONDS (Cost $10,199,347) | TOTAL CONVERTIBLE BONDS (Cost $10,199,347) | TOTAL CONVERTIBLE BONDS (Cost $10,199,347) | $&nbsp;&nbsp;&nbsp;&nbsp;9139970 |  |
| **CAPITAL PREFERRED SECURITIES - 0.1%** | **CAPITAL PREFERRED SECURITIES - 0.1%** | **CAPITAL PREFERRED SECURITIES - 0.1%** |  |  |
| **Financials - 0.1%** | **Financials - 0.1%** | **Financials - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462262 | 0.1% |
| TOTAL CAPITAL PREFERRED SECURITIES (Cost $529,179) | TOTAL CAPITAL PREFERRED SECURITIES (Cost $529,179) | TOTAL CAPITAL PREFERRED SECURITIES (Cost $529,179) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462262 |  |
| **MUNICIPAL BONDS - 0.0%** | **MUNICIPAL BONDS - 0.0%** | **MUNICIPAL BONDS - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135104 | 0.0% |
| TOTAL MUNICIPAL BONDS (Cost $128,725) | TOTAL MUNICIPAL BONDS (Cost $128,725) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135104 |  |
| **TERM LOANS (B) - 0.9%** | **TERM LOANS (B) - 0.9%** | **TERM LOANS (B) - 0.9%** |  |  |
| **Communication services - 0.1%** | **Communication services - 0.1%** | **Communication services - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97799 | 0.1% |
| **Consumer discretionary - 0.0%** | **Consumer discretionary - 0.0%** | **Consumer discretionary - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76779 | 0.0% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **TERM LOANS (continued)** | **TERM LOANS (continued)** |  |  |
| **Industrials - 0.8%** | **Industrials - 0.8%** |  |  |
| United Airlines, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%)<br> 8.108%, 04/21/2028 | $1549383 | $&nbsp;&nbsp;&nbsp;1527010 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;1474255 | 0.4% |
|  |  | &nbsp;&nbsp;&nbsp;3001265 |  |
| TOTAL TERM LOANS (Cost $3,234,144) | TOTAL TERM LOANS (Cost $3,234,144) | $&nbsp;&nbsp;&nbsp;3175843 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 5.4%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 5.4%** |  |  |
| **Commercial and residential - 3.3%** | **Commercial and residential - 3.3%** |  |  |
| BX Commercial Mortgage Trust<br> Series 2019-XL, Class A (1 month CME Term SOFR + 1.034%), 5.370%, 10/15/2036 (A)(C) | 1764986 | &nbsp;&nbsp;&nbsp;1743225 | 0.5% |
| OTHER SECURITIES |  | 10858164 | 2.8% |
|  |  | 12601389 |  |
| **Federal Home Loan Mortgage Corp. - 1.3%** | **Federal Home Loan Mortgage Corp. - 1.3%** | &nbsp;&nbsp;&nbsp;4967899 | 1.3% |
| **Federal National Mortgage Association - 0.8%** | **Federal National Mortgage Association - 0.8%** | &nbsp;&nbsp;&nbsp;2869599 | 0.8% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $20,598,884) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $20,598,884) | $20438887 |  |
| **ASSET BACKED SECURITIES - 1.5%** | **ASSET BACKED SECURITIES - 1.5%** | &nbsp;&nbsp;&nbsp;5518259 | 1.5% |
| TOTAL ASSET BACKED SECURITIES (Cost $5,719,111) |  | $&nbsp;&nbsp;5518259 |  |
| **COMMON STOCKS - 0.4%** | **COMMON STOCKS - 0.4%** |  |  |
| **Communication services - 0.0%** | **Communication services - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | 0.0% |
| **Consumer discretionary - 0.1%** | **Consumer discretionary - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;382083 | 0.1% |
| **Industrials - 0.3%** | **Industrials - 0.3%** | &nbsp;&nbsp;&nbsp;1160195 | 0.3% |
| TOTAL COMMON STOCKS (Cost $2,221,458) | TOTAL COMMON STOCKS (Cost $2,221,458) | $&nbsp;&nbsp;&nbsp;1542278 |  |
| **PREFERRED SECURITIES - 3.0%** | **PREFERRED SECURITIES - 3.0%** |  |  |
| **Communication services - 0.4%** | **Communication services - 0.4%** | &nbsp;&nbsp;&nbsp;1475811 | 0.4% |
| **Financials - 0.6%** | **Financials - 0.6%** | &nbsp;&nbsp;&nbsp;2386301 | 0.6% |
| **Health care - 0.4%** | **Health care - 0.4%** | &nbsp;&nbsp;&nbsp;1635391 | 0.4% |
| **Utilities - 1.6%** | **Utilities - 1.6%** |  |  |
| NextEra Energy, Inc., 6.926% | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;2594823 | 0.7% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;3294883 | 0.9% |
|  |  | &nbsp;&nbsp;&nbsp;5889706 |  |
| TOTAL PREFERRED SECURITIES (Cost $11,858,253) | TOTAL PREFERRED SECURITIES (Cost $11,858,253) | $11387209 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **PURCHASED OPTIONS - 0.0%** | **PURCHASED OPTIONS - 0.0%** |  |  |
| **Puts - 0.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% |
| TOTAL PURCHASED OPTIONS (Cost $116,805) | TOTAL PURCHASED OPTIONS (Cost $116,805) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 |  |
| **SHORT-TERM INVESTMENTS - 2.2%** | **SHORT-TERM INVESTMENTS - 2.2%** |  |  |
| **Short-term funds - 2.2%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 831024 | &nbsp;&nbsp;&nbsp;&nbsp;8306745 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,306,419) | TOTAL SHORT-TERM INVESTMENTS (Cost $8,306,419) | $&nbsp;&nbsp;&nbsp;&nbsp;8306745 |  |
| **Total Investments (Strategic Income Opportunities Trust) (Cost $418,463,267) - 99.9%** | **Total Investments (Strategic Income Opportunities Trust) (Cost $418,463,267) - 99.9%** | $**374419765** | &nbsp;&nbsp;**99.9%** |
| **Other assets and liabilities, net - 0.1%** | **Other assets and liabilities, net - 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**189978** | &nbsp;&nbsp;&nbsp;**0.1%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**374609743** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan Renminbi |
| EUR | Euro |
| IDR | Indonesian Rupiah |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $128,889,915 or 34.4% of the fund's net assets as of 12-31-22. |
| (B) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (C) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $3,899,370. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$(754730) | &nbsp;&nbsp;&nbsp;&nbsp;$(711474) | &nbsp;&nbsp;&nbsp;&nbsp;$43256 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$43256** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| AUD | &nbsp;&nbsp;1496250 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1594524 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$6751 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| AUD | &nbsp;&nbsp;6141549 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;6561057 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$17466 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;2740658 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2915032 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;15942 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;7592141 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;8054633 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;57217 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;621216 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;660876 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;3528 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;887500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;571585 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;33012 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;3070584 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2046022 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;45768 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;892500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;579255 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;28747 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;185480 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;17187 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;3955033 | &nbsp;&nbsp;USD | &nbsp;&nbsp;726039 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;20967 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;597500 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;59406808 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(12122) |
| CAD | &nbsp;&nbsp;595000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;60385777 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21441) |
| CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;31006045 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(16927) |
| CAD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;30776335 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(17020) |
| CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;2194491 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2547) |
| CAD | &nbsp;&nbsp;2534596 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2984858 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(23364) |
| CAD | &nbsp;&nbsp;1281092 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1492429 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1493) |
| CAD | &nbsp;&nbsp;1312108 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1492429 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;21416 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3461605 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2554297 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;2466 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;22399818 | &nbsp;&nbsp;USD | &nbsp;&nbsp;16479007 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;65635 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3936390 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2872393 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;35048 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;8558579 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6256259 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;65160 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;4689885 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3427151 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;36827 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;6625721 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4861248 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;32550 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;6347371 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4594681 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;93526 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;10452484 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7674913 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;45356 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;4726403 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3453435 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;37515 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3679915 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2742148 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(24141) |
| COP | &nbsp;&nbsp;3922521675 | &nbsp;&nbsp;USD | &nbsp;&nbsp;809269 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2218) |
| COP | &nbsp;&nbsp;3662305076 | &nbsp;&nbsp;USD | &nbsp;&nbsp;765852 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12340) |
| EUR | &nbsp;&nbsp;1481472 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1321224 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10534) |
| EUR | &nbsp;&nbsp;2962943 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2624503 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;633 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;7434247 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;6516782 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;84184 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1305643 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;9008 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1303342 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;11791 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;297500 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;6109460 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;6020 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;769046 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;7882930 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18904 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;2384042 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;24654353 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;36412 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;2049446 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1997818 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;198094 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;6575000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6630394 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;414498 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3603218 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3698262 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;162466 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1280384 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1234298 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;137591 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;5522834 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5549300 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;368232 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;5068218 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5160455 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;269971 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1311384 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481472 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1367) |
| GBP | &nbsp;&nbsp;1314367 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481511 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;2199 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;2628311 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2972124 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5864) |
| GBP | &nbsp;&nbsp;1311685 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1700) |
| GBP | &nbsp;&nbsp;595000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;97843585 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27229) |
| GBP | &nbsp;&nbsp;1467500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1643993 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;130794 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;2641500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2934368 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;260249 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;111798 | &nbsp;&nbsp;USD | &nbsp;&nbsp;120366 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;14842 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;6437940 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7571841 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;214172 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;29886850 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;8384 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30219660 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;9078 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;31178536 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18244 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;29899404 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;8480 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30994175 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18684 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30871247 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;15898 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;95931731 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;595000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;12637 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;156374017 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1052792 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;140778 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;792492604 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5866920 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;182007 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;256921858 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1813819 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;147211 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;546813217 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3902704 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;271005 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;291087232 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1953853 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;267953 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;119223813 | &nbsp;&nbsp;USD | &nbsp;&nbsp;902756 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;7254 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;373159287 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2543417 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;304828 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| MXN | &nbsp;&nbsp;6070071 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;297500 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8037) |
| MXN | &nbsp;&nbsp;14889850 | &nbsp;&nbsp;USD | &nbsp;&nbsp;744359 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$17847 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;16761816 | &nbsp;&nbsp;USD | &nbsp;&nbsp;841967 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;16063 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;2168400 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) |
| NOK | &nbsp;&nbsp;3039156 | &nbsp;&nbsp;USD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;12897 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;316918 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1420) |
| NZD | &nbsp;&nbsp;1607694 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;1496250 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;1612 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;2984858 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;2583299 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12610) |
| NZD | &nbsp;&nbsp;2426577 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1476279 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;64635 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;2739520 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1990590 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;55375 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;1377750 | &nbsp;&nbsp;USD | &nbsp;&nbsp;995295 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;33654 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4066312 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2985459 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;51399 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;2814019 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1986894 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;114709 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;5402480 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3980845 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;53908 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4120114 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2985886 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;91153 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;11234855 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7930825 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;459742 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;5532144 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3977576 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;154015 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4204702 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2970395 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;169817 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;7850417 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;11592194 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46595) |
| USD | &nbsp;&nbsp;189668 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12999) |
| USD | &nbsp;&nbsp;377789 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;595000 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27546) |
| USD | &nbsp;&nbsp;2983483 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;4522683 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97527) |
| USD | &nbsp;&nbsp;190895 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11773) |
| USD | &nbsp;&nbsp;190944 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10021) |
| USD | &nbsp;&nbsp;3603389 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;19006111 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;13612 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;6370579 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;8664002 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28706) |
| USD | &nbsp;&nbsp;6070338 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;8268346 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36713) |
| USD | &nbsp;&nbsp;2882735 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;3937219 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25319) |
| USD | &nbsp;&nbsp;6939594 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;9401456 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4379) |
| USD | &nbsp;&nbsp;3633853 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;4944121 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17905) |
| USD | &nbsp;&nbsp;4822847 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6558088 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20996) |
| USD | &nbsp;&nbsp;13116893 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;17800325 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30535) |
| USD | &nbsp;&nbsp;4430625 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6063929 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48230) |
| USD | &nbsp;&nbsp;7979257 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;10860094 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42074) |
| USD | &nbsp;&nbsp;1046780 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;1433630 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12108) |
| USD | &nbsp;&nbsp;1677966 | &nbsp;&nbsp;COP | &nbsp;&nbsp;7584826751 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;117403 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;4425636 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4383333 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(270960) |
| USD | &nbsp;&nbsp;1488628 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481900 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99179) |
| USD | &nbsp;&nbsp;2246367 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2272270 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(188294) |
| USD | &nbsp;&nbsp;2196952 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2071356 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22436) |
| USD | &nbsp;&nbsp;12572730 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;12437756 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(753909) |
| USD | &nbsp;&nbsp;4241834 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4300504 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(366012) |
| USD | &nbsp;&nbsp;5723084 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5722366 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(408241) |
| USD | &nbsp;&nbsp;2249779 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2138218 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41250) |
| USD | &nbsp;&nbsp;1487079 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481900 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(100727) |
| USD | &nbsp;&nbsp;5130771 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5001356 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(228015) |
| USD | &nbsp;&nbsp;21929315 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;21644342 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(1261874) |
| USD | &nbsp;&nbsp;1641084 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1467500 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(133703) |
| USD | &nbsp;&nbsp;3708689 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;3206936 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(169764) |
| USD | &nbsp;&nbsp;2898148 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2641500 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(296469) |
| USD | &nbsp;&nbsp;2674519 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;380498847 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(229747) |
| USD | &nbsp;&nbsp;5105657 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;723704639 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(418226) |
| USD | &nbsp;&nbsp;1496781 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;198143924 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15609) |
| USD | &nbsp;&nbsp;4713409 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;663578151 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(351542) |
| USD | &nbsp;&nbsp;795907 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;104214367 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;461 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1490625 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;220344933 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(191221) |
| USD | &nbsp;&nbsp;1051839 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;153397044 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(119008) |
| USD | &nbsp;&nbsp;1051839 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;152364664 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(111128) |
| USD | &nbsp;&nbsp;204615 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;4017901 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1060) |
| USD | &nbsp;&nbsp;57334 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;1126214 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316) |
| USD | &nbsp;&nbsp;4236958 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;86794875 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(206035) |
| USD | &nbsp;&nbsp;3178025 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;31903549 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80363) |
| USD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;3079675 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17035) |
| USD | &nbsp;&nbsp;1897618 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;3113039 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79210) |
| USD | &nbsp;&nbsp;1025869 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1721083 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67046) |
| USD | &nbsp;&nbsp;2148721 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;3572064 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(119594) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;2627453 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;4497692 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(228651) |
| USD | &nbsp;&nbsp;1977991 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2803565 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115805) |
| USD | &nbsp;&nbsp;5945038 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;8283077 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241041) |
| USD | &nbsp;&nbsp;3569856 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;4936655 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117003) |
| USD | &nbsp;&nbsp;1964866 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2756314 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93642) |
| USD | &nbsp;&nbsp;9535183 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;13438719 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(501302) |
| USD | &nbsp;&nbsp;7539441 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;10738484 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(480419) |
| USD | &nbsp;&nbsp;1986351 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2671930 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9136) |
| USD | &nbsp;&nbsp;3977827 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5510320 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(137465) |
| USD | &nbsp;&nbsp;3969324 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5533711 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163436) |
| USD | &nbsp;&nbsp;1992285 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2800536 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99248) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$5862887** | &nbsp;&nbsp;**$(9211039)** |

---

#### WRITTEN OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** |
| **Description** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount\*** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Puts** |  |  |  |  |  |  |  |
| U.S. Dollar vs. Japanese Yen | &nbsp;&nbsp;GSI | &nbsp;&nbsp;USD | &nbsp;&nbsp;112.75 | &nbsp;&nbsp;Apr 2023 | &nbsp;&nbsp;9285000 | &nbsp;&nbsp;$55339 | &nbsp;&nbsp;$(17846) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$55339** | &nbsp;&nbsp;**$(17846)** |
| \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| COP | Colombian Peso |
| EUR | Euro |
| GBP | Pound Sterling |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SGD | Singapore Dollar |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| ANZ | Australia and New Zealand Banking Group Limited |
| BARC | Barclays Bank PLC |
| BOA | Bank of America, N.A. |
| CIBC | Canadian Imperial Bank of Commerce |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| HUS | HSBC Bank USA, N.A. |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| RBC | Royal Bank of Canada |
| SCB | Standard Chartered Bank |
| SSB | State Street Bank and Trust Company |
| UBS | UBS AG |

---

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 69.7%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 69.7%** |  |  |
| **U.S. Treasury Bonds - 8.3%** | **U.S. Treasury Bonds - 8.3%** |  |  |
| 1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4305312 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.000%, 11/15/2041<br> to 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12855351 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| 3.000%, 02/15/2047<br> to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21850387 | &nbsp;&nbsp;&nbsp;&nbsp;2.6% |
| 3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150000 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 4.000%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6008438 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| 4.250%, 05/15/2039<br> to 11/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4741728 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 4.625%, 02/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5373242 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9023794 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71308252 |  |
| **U.S. Treasury Notes - 32.4%** | **U.S. Treasury Notes - 32.4%** |  |  |
| 0.250%, 07/31/2025<br> to 10/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14339687 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| 0.375%, 09/15/2024<br> to 07/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391031 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 0.500%, 10/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10149844 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 0.625%, 03/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5206406 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 0.750%, 03/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585156 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| 0.875%, 01/31/2024<br> to 09/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14034570 | &nbsp;&nbsp;&nbsp;&nbsp;1.6% |
| 1.125%, 01/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18716406 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| 1.250%, 08/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4733398 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 1.375%, 08/31/2026<br> to 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6974727 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| 1.500%, 01/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27085546 | &nbsp;&nbsp;&nbsp;&nbsp;3.1% |
| 1.750%, 12/31/2024<br> to 01/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30218516 | &nbsp;&nbsp;&nbsp;&nbsp;3.6% |
| 2.125%, 05/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2807109 | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| 2.250%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18977971 | &nbsp;&nbsp;&nbsp;&nbsp;2.2% |
| 2.375%, 05/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545313 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4553125 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| 2.875%, 11/30/2023<br> to 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12991329 | &nbsp;&nbsp;&nbsp;&nbsp;1.4% |
| 3.125%, 08/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4808984 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 3.875%, 09/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9929297 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 4.000%, 10/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15004688 | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| 4.125%, 09/30/2027<br> to 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25176563 | &nbsp;&nbsp;&nbsp;&nbsp;3.0% |
| 4.250%, 09/30/2024<br> to 10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19941016 | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
| 4.375%, 10/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9971484 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 4.500%, 11/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10060156 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931563 | &nbsp;&nbsp;&nbsp;&nbsp;0.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279133885 |  |
| **Federal Home Loan Bank - 0.2%** | **Federal Home Loan Bank - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856111 | &nbsp;&nbsp;&nbsp;0.2% |
| **Federal Home Loan Mortgage Corp. - 6.1%** | **Federal Home Loan Mortgage Corp. - 6.1%** |  |  |
| 1.500%, 12/01/2036<br> to 03/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6542268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5237275 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 2.000%, 07/01/2035<br> to 05/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6251326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5182068 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| 2.500%, 04/01/2031<br> to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12369696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10598438 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| 3.000%, 07/01/2032<br> to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11196429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042462 | &nbsp;&nbsp;&nbsp;&nbsp;1.2% |
| 3.500%, 12/01/2025<br> to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8754055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8071548 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| 4.500%, 05/01/2024<br> to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5634136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5491330 | &nbsp;&nbsp;&nbsp;&nbsp;0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7482211 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52105332 |  |

---

#### Total Bond Market Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |  |
| **Federal National Mortgage Association - 16.8%** | **Federal National Mortgage Association - 16.8%** |  |  |
| 1.500%, 11/01/2036<br> to 02/01/2051 | $&nbsp;&nbsp;6993189 | $&nbsp;&nbsp;&nbsp;&nbsp;5898063 | 0.7% |
| 2.000%, 02/01/2035<br> to 02/01/2052 | 63921754 | &nbsp;&nbsp;&nbsp;53333889 | 6.1% |
| 2.500%, 05/01/2028<br> to 02/01/2052 | 37419949 | &nbsp;&nbsp;&nbsp;32398429 | 3.8% |
| 3.000%, 01/01/2027<br> to 03/01/2052 | 18343207 | &nbsp;&nbsp;&nbsp;16571934 | 2.0% |
| 3.500%, 12/01/2025<br> to 02/01/2052 | 10934862 | &nbsp;&nbsp;&nbsp;10159299 | 1.3% |
| 4.000%, 03/01/2024<br> to 06/01/2052 | 12936662 | &nbsp;&nbsp;&nbsp;12312932 | 1.4% |
| 4.500%, 08/01/2024<br> to 09/01/2052 | &nbsp;&nbsp;3702405 | &nbsp;&nbsp;&nbsp;&nbsp;3605322 | 0.4% |
| 5.000%, 08/01/2023<br> to 08/01/2052 | &nbsp;&nbsp;5180052 | &nbsp;&nbsp;&nbsp;&nbsp;5139373 | 0.6% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;5713692 | 0.5% |
|  |  | 145132933 |  |
| **Government National Mortgage<br> Association - 5.9%** | **Government National Mortgage<br> Association - 5.9%** |  |  |
| 2.000%, 02/20/2051 | 12084522 | &nbsp;&nbsp;&nbsp;10197834 | 1.2% |
| 2.500%, 08/20/2050<br> to 11/20/2051 | 14427983 | &nbsp;&nbsp;&nbsp;12572596 | 1.4% |
| 3.000%, 08/15/2043<br> to 07/20/2051 | 11713769 | &nbsp;&nbsp;&nbsp;10547822 | 1.3% |
| 3.500%, 04/15/2042<br> to 01/20/2052 | &nbsp;&nbsp;9593320 | &nbsp;&nbsp;&nbsp;&nbsp;8933398 | 1.2% |
| 4.000%, 11/15/2026<br> to 04/20/2049 | &nbsp;&nbsp;3973637 | &nbsp;&nbsp;&nbsp;&nbsp;3814035 | 0.4% |
| 4.500%, 06/15/2023<br> to 07/20/2052 | &nbsp;&nbsp;3789148 | &nbsp;&nbsp;&nbsp;&nbsp;3691928 | 0.4% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931674 | 0.0% |
|  |  | &nbsp;&nbsp;&nbsp;50689287 |  |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $660,253,655) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $660,253,655) | $600225800 |  |
| **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.7%** | **FOREIGN GOVERNMENT<br> OBLIGATIONS - 0.7%** |  |  |
| **Brazil - 0.2%** |  | &nbsp;&nbsp;&nbsp;1581936 | 0.2% |
| **Canada - 0.1%** |  | &nbsp;&nbsp;&nbsp;1080198 | 0.1% |
| **Israel - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456999 | 0.1% |
| **Italy - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301644 | 0.0% |
| **Japan - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773710 | 0.1% |
| **Mexico - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902079 | 0.1% |
| **Panama - 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385374 | 0.1% |
| **Peru - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263245 | 0.0% |
| **Turkey - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289083 | 0.0% |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $6,648,676) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $6,648,676) | $&nbsp;&nbsp;&nbsp;&nbsp;6034268 |  |
| **CORPORATE BONDS - 25.6%** | **CORPORATE BONDS - 25.6%** |  |  |
| **Communication services - 2.0%** | **Communication services - 2.0%** | &nbsp;&nbsp;&nbsp;17168041 | 2.0% |
| **Consumer discretionary - 1.6%** | **Consumer discretionary - 1.6%** | &nbsp;&nbsp;&nbsp;13955744 | 1.6% |
| **Consumer staples - 1.5%** | **Consumer staples - 1.5%** | &nbsp;&nbsp;&nbsp;13294245 | 1.5% |
| **Energy - 1.8%** | **Energy - 1.8%** | &nbsp;&nbsp;&nbsp;15512148 | 1.8% |
| **Financials - 7.9%** | **Financials - 7.9%** | &nbsp;&nbsp;&nbsp;67831597 | 7.9% |
| **Health care - 2.8%** | **Health care - 2.8%** | &nbsp;&nbsp;&nbsp;23903116 | 2.8% |
| **Industrials - 2.2%** | **Industrials - 2.2%** | &nbsp;&nbsp;&nbsp;18773309 | 2.2% |
| **Information technology - 2.3%** | **Information technology - 2.3%** | &nbsp;&nbsp;&nbsp;20079029 | 2.3% |
| **Materials - 0.8%** | **Materials - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;6825687 | 0.8% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Real estate - 0.9%** | **Real estate - 0.9%** | $&nbsp;&nbsp;&nbsp;&nbsp;7472842 | &nbsp;&nbsp;&nbsp;0.9% |
| **Utilities - 1.8%** | **Utilities - 1.8%** | &nbsp;&nbsp;&nbsp;15922077 | &nbsp;&nbsp;&nbsp;1.8% |
| TOTAL CORPORATE BONDS (Cost $246,162,134) | TOTAL CORPORATE BONDS (Cost $246,162,134) | $220737835 |  |
| **MUNICIPAL BONDS - 0.4%** | **MUNICIPAL BONDS - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;3640887 | &nbsp;&nbsp;&nbsp;0.4% |
| TOTAL MUNICIPAL BONDS (Cost $3,507,431) |  | $&nbsp;&nbsp;&nbsp;3640887 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 2.1%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 2.1%** |  |  |
| **Commercial and residential - 1.9%** | **Commercial and residential - 1.9%** | &nbsp;&nbsp;&nbsp;15978543 | &nbsp;&nbsp;&nbsp;1.9% |
| **Federal Home Loan Mortgage Corp. - 0.2%** | **Federal Home Loan Mortgage Corp. - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;2032665 | &nbsp;&nbsp;&nbsp;0.2% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,868,087) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,868,087) | $&nbsp;&nbsp;&nbsp;18011208 |  |
| **ASSET BACKED SECURITIES - 0.2%** | **ASSET BACKED SECURITIES - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;1310888 | &nbsp;&nbsp;&nbsp;0.2% |
| TOTAL ASSET BACKED SECURITIES (Cost $1,452,906) |  | $&nbsp;&nbsp;&nbsp;1310888 |  |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |  |
| **Energy - 0.0%** | **Energy - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7240 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL COMMON STOCKS (Cost $4,349) | TOTAL COMMON STOCKS (Cost $4,349) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7240 |  |
| **SHORT-TERM INVESTMENTS - 0.5%** | **SHORT-TERM INVESTMENTS - 0.5%** |  |  |
| **Short-term funds - 0.5%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (A)(B) | 463576 | &nbsp;&nbsp;&nbsp;&nbsp;4633816 | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,633,907) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,633,907) | $&nbsp;&nbsp;&nbsp;&nbsp;4633816 |  |
| **Total Investments (Total Bond Market Trust) (Cost $942,531,145) - 99.2%** | **Total Investments (Total Bond Market Trust) (Cost $942,531,145) - 99.2%** | $**854601942** | &nbsp;&nbsp;**99.2%** |
| **Other assets and liabilities, net - 0.8%** | **Other assets and liabilities, net - 0.8%** | &nbsp;&nbsp;&nbsp;&nbsp;**7002529** | &nbsp;&nbsp;&nbsp;**0.8%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**861604471** | **100.0%** |

---

<u>Security Abbreviations and Legend</u> <br> (A) The rate shown is the annualized seven-day yield as of 12-31-22. <br> (B) Investment is an affiliate of the fund, the advisor and/or subadvisor.

#### Ultra Short Term Bond Trust

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 0.7%** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 0.7%** |  |  |
| **Federal Home Loan Mortgage Corp. - 0.3%** | **Federal Home Loan Mortgage Corp. - 0.3%** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660845 | &nbsp;&nbsp;&nbsp;0.3% |
| **Federal National Mortgage Association - 0.4%** | **Federal National Mortgage Association - 0.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000698 | &nbsp;&nbsp;&nbsp;0.4% |
| **Government National Mortgage<br> Association - 0.0%** | **Government National Mortgage<br> Association - 0.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92820 | &nbsp;&nbsp;&nbsp;0.0% |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $1,826,622) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $1,826,622) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754363 |  |
| **CORPORATE BONDS - 54.0%** | **CORPORATE BONDS - 54.0%** |  |  |
| **Communication services - 1.6%** | **Communication services - 1.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398233 | &nbsp;&nbsp;&nbsp;1.6% |
| **Consumer discretionary - 10.1%** | **Consumer discretionary - 10.1%** |  |  |
| Amazon.com, Inc.<br> 0.450%, 05/12/2024 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196156 | &nbsp;&nbsp;&nbsp;&nbsp;1.5% |
| American Honda Finance Corp.<br> 3.550%, 01/12/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972549 | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| eBay, Inc.<br> 2.750%, 01/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995054 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |

---

#### Ultra Short Term Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |  |  |
| General Motors Financial Company, Inc.<br> 5.100%, 01/17/2024 | 2000000 | $&nbsp;&nbsp;&nbsp;1992095 | 0.7% |
| Hyundai Capital America<br> 0.800%, 01/08/2024 (A) | 3000000 | &nbsp;&nbsp;&nbsp;2853931 | 1.1% |
| Toyota Motor Credit Corp.<br> 3.350%, 01/08/2024 | 3360000 | &nbsp;&nbsp;&nbsp;3315524 | 1.2% |
| Volkswagen Group of America Finance LLC<br> 3.125%, 05/12/2023 (A) | 3000000 | &nbsp;&nbsp;&nbsp;2976033 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;7312879 | 2.7% |
|  |  | 27614221 |  |
| **Consumer staples - 0.5%** | **Consumer staples - 0.5%** | &nbsp;&nbsp;&nbsp;1332594 | 0.5% |
| **Energy - 3.9%** | **Energy - 3.9%** |  |  |
| Energy Transfer LP<br> 4.500%, 11/01/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2978059 | 1.1% |
| The Williams Companies, Inc.<br> 4.500%, 11/15/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2977868 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;4787973 | 1.7% |
|  |  | 10743900 |  |
| **Financials - 26.1%** | **Financials - 26.1%** |  |  |
| American Express Company<br> 3.400%, 02/22/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2946852 | 1.1% |
| Athene Global Funding<br> 0.950%, 01/08/2024 (A) | 3000000 | &nbsp;&nbsp;&nbsp;2854433 | 1.0% |
| Bank of America Corp.<br> 0.523%, (0.523% to 6-14-23, then SOFR + 0.410%), 06/14/2024 | 2855000 | &nbsp;&nbsp;&nbsp;2787081 | 1.0% |
| Bank of America Corp.<br> 4.000%, 04/01/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1974785 | 0.7% |
| Bank of Montreal<br> 2.150%, 03/08/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2902386 | 1.1% |
| Brighthouse Financial Global Funding<br> 4.412%, (SOFR + 0.760%), 04/12/2024 (A)(B) | 2000000 | &nbsp;&nbsp;&nbsp;1980559 | 0.7% |
| Capital One Financial Corp.<br> 3.750%, 04/24/2024 | 3176000 | &nbsp;&nbsp;&nbsp;3115890 | 1.1% |
| Citigroup, Inc.<br> 3.352%, (3.352% to 4-24-24, then 3 month LIBOR + 0.897%), 04/24/2025 | 3000000 | &nbsp;&nbsp;&nbsp;2909035 | 1.1% |
| Credit Agricole SA<br> 3.750%, 04/24/2023 (A) | 2000000 | &nbsp;&nbsp;&nbsp;1991190 | 0.7% |
| Fifth Third Bancorp<br> 3.650%, 01/25/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2954634 | 1.1% |
| Five Corners Funding Trust<br> 4.419%, 11/15/2023 (A) | 3000000 | &nbsp;&nbsp;&nbsp;2974159 | 1.1% |
| JPMorgan Chase & Co.<br> 1.514%, (1.514% to 6-1-23, then SOFR + 1.455%), 06/01/2024 | 5000000 | &nbsp;&nbsp;&nbsp;4918503 | 1.8% |
| Morgan Stanley<br> 3.737%, (3.737% to 4-24-23, then 3 month LIBOR + 0.847%), 04/24/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2983782 | 1.1% |
| Royal Bank of Canada<br> 5.660%, 10/25/2024 | 2000000 | &nbsp;&nbsp;&nbsp;2022895 | 0.7% |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |  |
| **Financials (continued)** | **Financials (continued)** |  |  |
| Santander Holdings USA, Inc.<br> 3.244%, 10/05/2026 | 3000000 | $&nbsp;&nbsp;&nbsp;&nbsp;2784198 | 1.0% |
| The Bank of New York Mellon Corp.<br> 3.450%, 08/11/2023 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2973308 | 1.1% |
| The Bank of Nova Scotia<br> 1.950%, 02/01/2023 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2992988 | 1.1% |
| The Goldman Sachs Group, Inc.<br> 1.217%, 12/06/2023 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2895941 | 1.1% |
| UBS Group AG<br> 1.008%, (1.008% to 7-30-23, then 1 Year CMT + 0.830%), 07/30/2024 (A) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2917039 | 1.1% |
| Wells Fargo & Company<br> 3.300%, 09/09/2024 | 2765000 | &nbsp;&nbsp;&nbsp;&nbsp;2683336 | 1.0% |
| Wells Fargo & Company<br> 3.750%, 01/24/2024 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2959236 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;11867347 | 4.3% |
|  |  | &nbsp;&nbsp;&nbsp;71389577 |  |
| **Health care - 2.2%** | **Health care - 2.2%** |  |  |
| Cigna Corp.<br> 0.613%, 03/15/2024 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2846632 | 1.0% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3265194 | 1.2% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6111826 |  |
| **Industrials - 1.4%** | **Industrials - 1.4%** | &nbsp;&nbsp;&nbsp;&nbsp;3849929 | 1.4% |
| **Information technology - 4.3%** | **Information technology - 4.3%** |  |  |
| Apple, Inc.<br> 0.750%, 05/11/2023 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1971189 | 0.7% |
| NXP BV<br> 4.875%, 03/01/2024 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2977036 | 1.1% |
| Oracle Corp.<br> 2.625%, 02/15/2023 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2990640 | 1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;&nbsp;3894906 | 1.4% |
|  |  | &nbsp;&nbsp;&nbsp;11833771 |  |
| **Materials - 2.1%** | **Materials - 2.1%** |  |  |
| Georgia-Pacific LLC<br> 0.625%, 05/15/2024 (A) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2817892 | 1.1% |
| Graphic Packaging International LLC<br> 0.821%, 04/15/2024 (A) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2807634 | 1.0% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5625526 |  |
| **Utilities - 1.8%** | **Utilities - 1.8%** |  |  |
| Alexander Funding Trust<br> 1.841%, 11/15/2023 (A) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2873855 | 1.1% |
| Eversource Energy<br> 2.800%, 05/01/2023 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1989821 | 0.7% |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4863676 |  |
| TOTAL CORPORATE BONDS (Cost $151,752,168) | TOTAL CORPORATE BONDS (Cost $151,752,168) | $147763253 |  |
| **MUNICIPAL BONDS - 0.7%** | **MUNICIPAL BONDS - 0.7%** | &nbsp;&nbsp;&nbsp;&nbsp;1964481 | 0.7% |
| TOTAL MUNICIPAL BONDS (Cost $2,000,000) |  | $&nbsp;&nbsp;&nbsp;1964481 |  |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 0.4%** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS - 0.4%** |  |  |
| **Commercial and residential - 0.2%** | **Commercial and residential - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558631 | 0.2% |
| **Federal National Mortgage Association - 0.2%** | **Federal National Mortgage Association - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491090 | 0.2% |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,090,544) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,090,544) | $&nbsp;&nbsp;&nbsp;&nbsp;1049721 |  |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** | **% of<br> Net<br> Assets** |
| **ASSET BACKED SECURITIES - 16.9%** | **ASSET BACKED SECURITIES - 16.9%** |  |  |
| American Tower Trust<br> Series 2013, Class 2A, 3.070%, 03/15/2048 (A) | $&nbsp;&nbsp;2500000 | $&nbsp;&nbsp;&nbsp;&nbsp;2486003 | &nbsp;&nbsp;&nbsp;&nbsp;0.9% |
| AmeriCredit Automobile Receivables Trust<br> Series 2020-1, Class C, 1.590%, 10/20/2025 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2902910 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| AmeriCredit Automobile Receivables Trust<br> Series 2018-3, Class D, 4.040%, 11/18/2024 | &nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;2630812 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2019-3A, Class A, 2.360%, 03/20/2026 (A) | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2792126 | &nbsp;&nbsp;&nbsp;&nbsp;1.0% |
| BA Credit Card Trust<br> Series 2021-A1, Class A1, 0.440%, 09/15/2026 | &nbsp;&nbsp;3753000 | &nbsp;&nbsp;&nbsp;&nbsp;3537621 | &nbsp;&nbsp;&nbsp;&nbsp;1.3% |
| HPEFS Equipment Trust<br> Series 2022-1A, Class A2, 1.020%, 05/21/2029 (A) | &nbsp;&nbsp;2325870 | &nbsp;&nbsp;&nbsp;&nbsp;2287174 | &nbsp;&nbsp;&nbsp;&nbsp;0.8% |
| Hyundai Auto Lease Securitization Trust<br> Series 2021-B, Class A3, 0.330%, 06/17/2024 (A) | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2954230 | &nbsp;&nbsp;&nbsp;&nbsp;1.1% |
| OTHER SECURITIES |  | &nbsp;&nbsp;&nbsp;26767874 | &nbsp;&nbsp;&nbsp;&nbsp;9.7% |
| TOTAL ASSET BACKED SECURITIES (Cost $47,454,516) |  | $&nbsp;&nbsp;46358750 |  |
| **SHORT-TERM INVESTMENTS - 27.1%** | **SHORT-TERM INVESTMENTS - 27.1%** |  |  |
| **U.S. Government - 26.7%** | **U.S. Government - 26.7%** |  |  |
| U.S. Treasury Bill,<br> 3.307%, 01/05/2023 \* | 17970000 | &nbsp;&nbsp;&nbsp;17966371 | &nbsp;&nbsp;&nbsp;&nbsp;6.6% |
| U.S. Treasury Bill,<br> 3.933%, 01/26/2023 \* | 17615000 | &nbsp;&nbsp;&nbsp;17571329 | &nbsp;&nbsp;&nbsp;&nbsp;6.4% |
| U.S. Treasury Bill,<br> 4.040%, 02/23/2023 \* | &nbsp;&nbsp;5048000 | &nbsp;&nbsp;&nbsp;&nbsp;5017620 | &nbsp;&nbsp;&nbsp;&nbsp;1.8% |
| U.S. Treasury Bill,<br> 4.155%, 03/07/2023 \* | 19277000 | &nbsp;&nbsp;&nbsp;19134811 | &nbsp;&nbsp;&nbsp;&nbsp;7.0% |
| U.S. Treasury Bill,<br> 4.172%, 02/23/2023 \* | 13630000 | &nbsp;&nbsp;&nbsp;13547972 | &nbsp;&nbsp;&nbsp;&nbsp;4.9% |
|  |  | &nbsp;&nbsp;&nbsp;73238103 |  |
| **Short-term funds - 0.4%** |  |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;104712 | &nbsp;&nbsp;&nbsp;&nbsp;1046684 | &nbsp;&nbsp;&nbsp;&nbsp;0.4% |
| TOTAL SHORT-TERM INVESTMENTS (Cost $74,273,639) | TOTAL SHORT-TERM INVESTMENTS (Cost $74,273,639) | $&nbsp;&nbsp;&nbsp;74284787 |  |
| **Total Investments (Ultra Short Term Bond Trust) (Cost $278,397,489) - 99.8%** | **Total Investments (Ultra Short Term Bond Trust) (Cost $278,397,489) - 99.8%** | $**273175355** | &nbsp;&nbsp;**99.8%** |
| **Other assets and liabilities, net - 0.2%** | **Other assets and liabilities, net - 0.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**660835** | &nbsp;&nbsp;&nbsp;**0.2%** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**273836190** | **100.0%** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $56,053,799 or 20.5% of the fund's net assets as of 12-31-22. |
| (B) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)
\* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Summary Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

The following portfolios had the following country composition as a percentage of net assets, unless otherwise indicated, on 12-31-22:

#### High Yield Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;77.0% |
| Cayman Islands | &nbsp;&nbsp;7.7% |
| Canada | &nbsp;&nbsp;4.1% |
| United Kingdom | &nbsp;&nbsp;1.4% |
| Switzerland | &nbsp;&nbsp;1.3% |
| Luxembourg | &nbsp;&nbsp;1.3% |
| Netherlands | &nbsp;&nbsp;1.1% |
| Other countries | &nbsp;&nbsp;6.1% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Investment Quality Bond Trust (as a percentage of total investments)

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;89.4% |
| Cayman Islands | &nbsp;&nbsp;3.9% |
| United Kingdom | &nbsp;&nbsp;1.1% |
| Other countries | &nbsp;&nbsp;5.6% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

#### Strategic Income Opportunities Trust

---

| | |
|:---|:---|
| United States | &nbsp;&nbsp;60.5% |
| Canada | &nbsp;&nbsp;5.9% |
| Indonesia | &nbsp;&nbsp;3.9% |
| Mexico | &nbsp;&nbsp;2.5% |
| Norway | &nbsp;&nbsp;2.4% |
| South Korea | &nbsp;&nbsp;2.0% |
| Luxembourg | &nbsp;&nbsp;1.9% |
| United Kingdom | &nbsp;&nbsp;1.8% |
| Supranational | &nbsp;&nbsp;1.6% |
| New Zealand | &nbsp;&nbsp;1.5% |
| Other countries | &nbsp;&nbsp;16.0% |
| &nbsp;&nbsp;&nbsp;**TOTAL** | &nbsp;&nbsp;**100.0%** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$537153269 | &nbsp;&nbsp;&nbsp;&nbsp;$814831140 | &nbsp;&nbsp;&nbsp;&nbsp;$162466034 | &nbsp;&nbsp;&nbsp;&nbsp;$248594288 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12007133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100000 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**549160402** | &nbsp;&nbsp;&nbsp;&nbsp;**814831140** | &nbsp;&nbsp;&nbsp;&nbsp;**165813158** | &nbsp;&nbsp;&nbsp;&nbsp;**255694288** |
| Receivable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14429 |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111971 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75904 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral at broker for sale commitments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4477100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4381020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3114512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597859 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945626 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12294144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10313 |
| Receivable for delayed delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14092701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843898 |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interfund lending receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7515 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**564103133** | &nbsp;&nbsp;&nbsp;&nbsp;**845680224** | &nbsp;&nbsp;&nbsp;&nbsp;**170895897** | &nbsp;&nbsp;&nbsp;&nbsp;**265305053** |
| **Liabilities** |  |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91984 |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24316327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for delayed delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13696324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35749678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58561476 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10018 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31676 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15307080** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60215544** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3402686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**58695239** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$548796053** | &nbsp;&nbsp;&nbsp;&nbsp;**$785464680** | &nbsp;&nbsp;&nbsp;&nbsp;**$167493211** | &nbsp;&nbsp;&nbsp;&nbsp;**$206609814** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$639453885 | &nbsp;&nbsp;&nbsp;&nbsp;$937747241 | &nbsp;&nbsp;&nbsp;&nbsp;$268357158 | &nbsp;&nbsp;&nbsp;&nbsp;$248004971 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90657832) | &nbsp;&nbsp;&nbsp;&nbsp;(152282561) | &nbsp;&nbsp;&nbsp;&nbsp;(100863947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41395157) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$548796053** | &nbsp;&nbsp;&nbsp;&nbsp;**$785464680** | &nbsp;&nbsp;&nbsp;&nbsp;**$167493211** | &nbsp;&nbsp;&nbsp;&nbsp;**$206609814** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$601684131 | &nbsp;&nbsp;&nbsp;&nbsp;$887194907 | &nbsp;&nbsp;&nbsp;&nbsp;$197165471 | &nbsp;&nbsp;&nbsp;&nbsp;$287101301 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$12006375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3347182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6292 |
| Collateral held at broker for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$813000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$193268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3247270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$25582264 | &nbsp;&nbsp;&nbsp;&nbsp;$63595380 | &nbsp;&nbsp;&nbsp;&nbsp;$49518408 | &nbsp;&nbsp;&nbsp;&nbsp;$100184702 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5759191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11503729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10864597 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.22 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$103068073 | &nbsp;&nbsp;&nbsp;&nbsp;$63713561 | &nbsp;&nbsp;&nbsp;&nbsp;$32972281 | &nbsp;&nbsp;&nbsp;&nbsp;$50636412 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12755861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5775782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5486132 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.23 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$420145716 | &nbsp;&nbsp;&nbsp;&nbsp;$658155739 | &nbsp;&nbsp;&nbsp;&nbsp;$85002522 | &nbsp;&nbsp;&nbsp;&nbsp;$55788700 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52091250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59918206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20143251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6076220 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.18 |

---

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$1823796510 | &nbsp;&nbsp;&nbsp;&nbsp;$178943790 | &nbsp;&nbsp;&nbsp;&nbsp;$5903841714 | &nbsp;&nbsp;&nbsp;&nbsp;$160212513 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195160389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484928 |
| Repurchase agreements, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**2333150510** | &nbsp;&nbsp;&nbsp;&nbsp;**179235288** | &nbsp;&nbsp;&nbsp;&nbsp;**6099002103** | &nbsp;&nbsp;&nbsp;&nbsp;**160697441** |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2772569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387319 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral segregated at custodian for OTC derivative contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8367837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40513060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718085 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4144580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14255994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10423 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15421708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for delayed delivery securities sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5081740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217930981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5598 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**2345753011** | &nbsp;&nbsp;&nbsp;&nbsp;**191249758** | &nbsp;&nbsp;&nbsp;&nbsp;**6392542478** | &nbsp;&nbsp;&nbsp;&nbsp;**161818866** |
| **Liabilities** |  |  |  |  |
| Payable for sale commitments outstanding, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5971435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on OTC derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14946489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for delayed delivery securities purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27401067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412078724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16286684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52498 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8288 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17728 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16455516** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30899430** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**433733053** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78586** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2329297495** | &nbsp;&nbsp;&nbsp;&nbsp;**$160350328** | &nbsp;&nbsp;&nbsp;&nbsp;**$5958809425** | &nbsp;&nbsp;&nbsp;&nbsp;**$161740280** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$2329295413 | &nbsp;&nbsp;&nbsp;&nbsp;$191765036 | &nbsp;&nbsp;&nbsp;&nbsp;$7112463169 | &nbsp;&nbsp;&nbsp;&nbsp;$202525227 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31414708) | &nbsp;&nbsp;&nbsp;&nbsp;(1153653744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40784947) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$2329297495** | &nbsp;&nbsp;&nbsp;&nbsp;**$160350328** | &nbsp;&nbsp;&nbsp;&nbsp;**$5958809425** | &nbsp;&nbsp;&nbsp;&nbsp;**$161740280** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$2333150510 | &nbsp;&nbsp;&nbsp;&nbsp;$203559076 | &nbsp;&nbsp;&nbsp;&nbsp;$6587635391 | &nbsp;&nbsp;&nbsp;&nbsp;$173477629 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$291367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$195134100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$484880 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Proceeds received on sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5913115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unamortized upfront payment on OTC swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$157428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for centrally cleared swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$288032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$1778244581 | &nbsp;&nbsp;&nbsp;&nbsp;$21069026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$135477411 | &nbsp;&nbsp;&nbsp;&nbsp;$25351993 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;1778294672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11819140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2317127 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.94 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$66988756 | &nbsp;&nbsp;&nbsp;&nbsp;$43462994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$412763276 | &nbsp;&nbsp;&nbsp;&nbsp;$17252533 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66969800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35948221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576008 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.95 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$484064158 | &nbsp;&nbsp;&nbsp;&nbsp;$95818308 | &nbsp;&nbsp;&nbsp;&nbsp;$5410568738 | &nbsp;&nbsp;&nbsp;&nbsp;$119135754 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484070160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9188628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472440368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10891750 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.94 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Unaffiliated investments, at value (including securities loaned) | &nbsp;&nbsp;&nbsp;&nbsp;$366113020 | &nbsp;&nbsp;&nbsp;&nbsp;$849968126 | &nbsp;&nbsp;&nbsp;&nbsp;$272128671 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8306745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4633816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046684 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**374419765** | &nbsp;&nbsp;&nbsp;&nbsp;**854601942** | &nbsp;&nbsp;&nbsp;&nbsp;**273175355** |
| Unrealized appreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5862887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Collateral segregated at custodian for OTC derivative contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3739993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5768951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163886 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2946 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1553827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for securities lending income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable from affiliates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8479 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**389969470** | &nbsp;&nbsp;&nbsp;&nbsp;**862634925** | &nbsp;&nbsp;&nbsp;&nbsp;**274350666** |
| **Liabilities** |  |  |  |
| Unrealized depreciation on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9211039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476611 |
| Payable upon return of securities loaned | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable to affiliates |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14312 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23456 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15359727** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1030454** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**514476** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$374609743** | &nbsp;&nbsp;&nbsp;&nbsp;**$861604471** | &nbsp;&nbsp;&nbsp;&nbsp;**$273836190** |
| **Net assets consist of** |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$418175713 | &nbsp;&nbsp;&nbsp;&nbsp;$970274376 | &nbsp;&nbsp;&nbsp;&nbsp;$304236873 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43565970) | &nbsp;&nbsp;&nbsp;&nbsp;(108669905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30400683) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$374609743** | &nbsp;&nbsp;&nbsp;&nbsp;**$861604471** | &nbsp;&nbsp;&nbsp;&nbsp;**$273836190** |
| Unaffiliated investments, including repurchase agreements, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$410156848 | &nbsp;&nbsp;&nbsp;&nbsp;$937897238 | &nbsp;&nbsp;&nbsp;&nbsp;$277350783 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8306419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4633907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1046706 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$234175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities loaned, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3827862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value per share** |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |
| **Series I** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$238341941 | &nbsp;&nbsp;&nbsp;&nbsp;$270734578 | &nbsp;&nbsp;&nbsp;&nbsp;$10429140 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19560642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30823555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954195 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.93 |
| **Series II** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$52305295 | &nbsp;&nbsp;&nbsp;&nbsp;$49112058 | &nbsp;&nbsp;&nbsp;&nbsp;$228131490 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4279592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5582165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20872250 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.93 |
| **Series NAV** |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$83962507 | &nbsp;&nbsp;&nbsp;&nbsp;$541757835 | &nbsp;&nbsp;&nbsp;&nbsp;$35275560 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6914411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61698402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226416 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.93 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;$22079159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22487516 | &nbsp;&nbsp;&nbsp;&nbsp;$12081520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7734713 |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3957) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22409948** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22494495** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12478211** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7736501** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3586024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4938160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374182 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202660 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34241 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4715 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69259 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19525 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95242 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24547 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4249281** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5632726** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1575440** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1824371** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49252) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14164) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17913) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4200029** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5565934** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1561276** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1806458** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18209919** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16928561** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10916935** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5930043** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;(26261547) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78312984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8828596) | &nbsp;&nbsp;&nbsp;&nbsp;(21957588) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2368) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8445) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(496) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1012857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9401357 |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329150 |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148879) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276842 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(26263915)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(78315510)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9852552)** | &nbsp;&nbsp;&nbsp;&nbsp;**(12099614)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(86109293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69808441) | &nbsp;&nbsp;&nbsp;&nbsp;(27971001) | &nbsp;&nbsp;&nbsp;&nbsp;(35081358) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740282 |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16822) |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91780) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314770 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(86107970)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(69808075)** | &nbsp;&nbsp;&nbsp;&nbsp;**(28143427)** | &nbsp;&nbsp;&nbsp;&nbsp;**(33134897)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;**(112371885)** | &nbsp;&nbsp;&nbsp;&nbsp;**(148123585)** | &nbsp;&nbsp;&nbsp;&nbsp;**(37995979)** | &nbsp;&nbsp;&nbsp;&nbsp;**(45234511)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(94161966)** | &nbsp;&nbsp;&nbsp;**$(131195024)** | &nbsp;&nbsp;&nbsp;**$(27079044)** | &nbsp;&nbsp;&nbsp;**$(39304468)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** |
| Interest | &nbsp;&nbsp;&nbsp;$37102883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8767967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$207008999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3072417 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29986 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**37102883** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8953044** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**210846210** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3102403** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7821736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37647932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974058 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61758 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25918 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31023 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18518 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75269 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21369 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9730777** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1601182** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**41270363** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1211397** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2424700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(125689) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1946437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13796) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7306077** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1475493** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39323926** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1197601** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;**29796806** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7477551** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**171522284** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1904802** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9315 | &nbsp;&nbsp;&nbsp;&nbsp;(19884604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(476226874) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1693933) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2509) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3229855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9315** | &nbsp;&nbsp;&nbsp;&nbsp;**(12445257)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(479443875)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1693453)** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(16687033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(759014586) | &nbsp;&nbsp;&nbsp;&nbsp;(12003612) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1990780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**(18336205)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(758962315)** | &nbsp;&nbsp;&nbsp;&nbsp;**(12003564)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9315** | &nbsp;&nbsp;&nbsp;&nbsp;**(30781462)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1238406190)** | &nbsp;&nbsp;&nbsp;&nbsp;**(13697017)** |
| **Increase (decrease) in net assets from operations** | &nbsp;&nbsp;&nbsp;**$29806121** | &nbsp;&nbsp;&nbsp;**$(23303911)** | &nbsp;&nbsp;&nbsp;**$(1066883906)** | &nbsp;&nbsp;&nbsp;**$(11792215)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | |
|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;$13941127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20231541 | &nbsp;&nbsp;&nbsp;&nbsp;$4112902 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59311 |
| Securities lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 |
| Less foreign taxes withheld | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100448) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14992535** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20468991** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4173141** |
| **Expenses** |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459011 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553301 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41028 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5279 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39080 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20343 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72665 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20253 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3181011** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4337999** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2210960** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2097457) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181123) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3147966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2240542** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2029837** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11844569** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18228449** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2143304** |
| **Realized and unrealized gain (loss)** |  |  |  |
| **Net realized gain (loss) on** |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;(16708446) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12626117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296539 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6410202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6903478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3397518)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12617479)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**298524** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;(49547218) | &nbsp;&nbsp;&nbsp;&nbsp;(118976836) | &nbsp;&nbsp;&nbsp;&nbsp;(4933008) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4185025) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(53214718)** | &nbsp;&nbsp;&nbsp;&nbsp;**(118976190)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4933030)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(56612236)** | &nbsp;&nbsp;&nbsp;&nbsp;**(131593669)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4634506)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(44767667)** | &nbsp;&nbsp;&nbsp;**$(113365220)** | &nbsp;&nbsp;&nbsp;**$(2491202)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Active Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**Core Bond Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** | &nbsp;&nbsp;&nbsp;**High Yield Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$18209919 | &nbsp;&nbsp;&nbsp;&nbsp;$17154958 | &nbsp;&nbsp;&nbsp;&nbsp;$16928561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8650321 | &nbsp;&nbsp;&nbsp;&nbsp;$10916935 | &nbsp;&nbsp;&nbsp;&nbsp;$10114447 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26263915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5824999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78315510) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2631055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9852552) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4059728 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86107970) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27280200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69808075) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31928190) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28143427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2712144) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(94161966)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4300243)** | &nbsp;&nbsp;&nbsp;&nbsp;**(131195024)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20646814)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(27079044)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11462031** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1138268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1630925) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1485314) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5234036) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3087188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3205581) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4195709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6657686) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1344902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4712777) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1980201) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2281261) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18364518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26431140) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15757417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51607322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5460996) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4767578) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23698495)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(34719751)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18587633)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(61554135)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10528385)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(10254420)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61006907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15207846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64067757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36638933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3679377) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10925148 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(178867368)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23812148)** | &nbsp;&nbsp;&nbsp;&nbsp;**(213850414)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(45562016)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41286806)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12132759** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;727663421 | &nbsp;&nbsp;&nbsp;&nbsp;751475569 | &nbsp;&nbsp;&nbsp;&nbsp;999315094 | &nbsp;&nbsp;&nbsp;1044877110 | &nbsp;&nbsp;&nbsp;&nbsp;208780017 | &nbsp;&nbsp;&nbsp;&nbsp;196647258 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$548796053** | &nbsp;&nbsp;&nbsp;**$727663421** | &nbsp;&nbsp;&nbsp;**$785464680** | &nbsp;&nbsp;&nbsp;&nbsp;**$999315094** | &nbsp;&nbsp;&nbsp;**$167493211** | &nbsp;&nbsp;&nbsp;**$208780017** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Money Market Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;**Opportunistic Fixed Income Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5930043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4879409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29796806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$76031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7477551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5897844 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12099614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12445257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5283699 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33134897) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13166182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18336205) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15569593) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(39304468)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3516390)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29806121** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**78113** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(23303911)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4388050)** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5505486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5724212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22663968) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(847246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2001393) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2718019) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2948815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(734328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1671776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3666833) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3166588) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2675825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6457687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14715) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3903288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8243546) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11390093)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11348852)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(29855983)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(76031)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6422310)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13911772)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13614251) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19635010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335320038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(408164051) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22039557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32921594 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(64308812)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4769768** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**335270176** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(408161969)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(51765778)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14621772** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;270918626 | &nbsp;&nbsp;&nbsp;&nbsp;266148858 | &nbsp;&nbsp;&nbsp;&nbsp;1994027319 | &nbsp;&nbsp;&nbsp;&nbsp;2402189288 | &nbsp;&nbsp;&nbsp;&nbsp;212116106 | &nbsp;&nbsp;&nbsp;&nbsp;197494334 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$206609814** | &nbsp;&nbsp;&nbsp;**$270918626** | &nbsp;&nbsp;&nbsp;**$2329297495** | &nbsp;&nbsp;&nbsp;**$1994027319** | &nbsp;&nbsp;&nbsp;**$160350328** | &nbsp;&nbsp;&nbsp;**$212116106** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Select Bond Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;**Strategic Income Opportunities Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$171522284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$155801582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1904802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1961619 | &nbsp;&nbsp;&nbsp;&nbsp;$11844569 | &nbsp;&nbsp;&nbsp;&nbsp;$11600800 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(479443875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79193063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1693453) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3397518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13003074 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(758962315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(323798430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12003564) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5383710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53214718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20578931) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(1066883906)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(88803785)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11792215)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2888438)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(44767667)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4024943** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5329746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5702710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(392944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(535512) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8811956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10390453) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15790182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12750132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(334629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1763045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1515124) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223358414) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241565674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1931770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2331807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3084135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3210797) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(244478342)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(260018516)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2557336)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3201948)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(13659136)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15116374)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(520797934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312346341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5083045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6664587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15077506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854214 |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1832160182)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(36475960)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19432596)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(12754973)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(73504309)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9237217)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;7790969607 | &nbsp;&nbsp;&nbsp;&nbsp;7827445567 | &nbsp;&nbsp;&nbsp;&nbsp;181172876 | &nbsp;&nbsp;&nbsp;&nbsp;193927849 | &nbsp;&nbsp;&nbsp;&nbsp;448114052 | &nbsp;&nbsp;&nbsp;&nbsp;457351269 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$5958809425** | &nbsp;&nbsp;&nbsp;**$7790969607** | &nbsp;&nbsp;&nbsp;**$161740280** | &nbsp;&nbsp;&nbsp;**$181172876** | &nbsp;&nbsp;&nbsp;**$374609743** | &nbsp;&nbsp;&nbsp;**$448114052** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;**Ultra Short Term Bond Trust** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |
| **From operations** |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$18228449 | &nbsp;&nbsp;&nbsp;&nbsp;$11939720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2143304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$524609 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12617479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143861 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(118976190) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27800636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4933030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2268852) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(113365220)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15247254)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2491202)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1600382)** |
| **Distributions to shareholders** |  |  |  |  |
| From earnings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7572612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7764202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(205924) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1260574) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1327106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2997662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3502373) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11170970) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8048642) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(524154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(723115) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20004156)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17139950)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3678113)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4431412)** |
| **From portfolio share transactions** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;247208789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18229344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34668147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52880881) |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**113839413** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(50616548)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**28498832** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(58912675)** |
| **Net assets** |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;747765058 | &nbsp;&nbsp;&nbsp;&nbsp;798381606 | &nbsp;&nbsp;&nbsp;&nbsp;245337358 | &nbsp;&nbsp;&nbsp;&nbsp;304250033 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$861604471** | &nbsp;&nbsp;&nbsp;**$747765058** | &nbsp;&nbsp;&nbsp;**$273836190** | &nbsp;&nbsp;&nbsp;**$245337358** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | &nbsp;&nbsp;9.79 | 0.27 | (1.64) | (1.37) | (0.30) | (0.06) | (0.36) | &nbsp;&nbsp;8.06 | (13.85) | 0.71 | 0.70 | 3.05 | &nbsp;&nbsp;26 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.30) | (0.06) | (0.33) | (0.16) | (0.49) | &nbsp;&nbsp;9.79 | &nbsp;&nbsp;(0.57) | 0.70 | 0.69 | 2.35 | &nbsp;&nbsp;34 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.79 | 0.26 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.86 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 10.34 | &nbsp;&nbsp;&nbsp;8.79 | 0.70 | 0.70 | 2.56 | &nbsp;&nbsp;36 | &nbsp;&nbsp;98 |
| 12-31-2019 | &nbsp;&nbsp;9.21 | 0.29 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;0.85 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | &nbsp;&nbsp;9.79 | &nbsp;&nbsp;&nbsp;9.25 | 0.70 | 0.70 | 2.96 | &nbsp;&nbsp;37 | &nbsp;&nbsp;88 |
| 12-31-2018 | &nbsp;&nbsp;9.57 | 0.30 | (0.36) | (0.06) | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;9.21 | &nbsp;&nbsp;(0.60) | 0.70 | 0.70 | 3.18 | &nbsp;&nbsp;35 | &nbsp;&nbsp;63 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | &nbsp;&nbsp;9.81 | 0.25 | (1.64) | (1.39) | (0.28) | (0.06) | (0.34) | &nbsp;&nbsp;8.08 | (14.02) | 0.91 | 0.90 | 2.83 | 103 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.36 | 0.22 | (0.30) | (0.08) | (0.31) | (0.16) | (0.47) | &nbsp;&nbsp;9.81 | &nbsp;&nbsp;(0.77) | 0.90 | 0.89 | 2.15 | 144 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.81 | 0.24 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.84 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 10.36 | &nbsp;&nbsp;&nbsp;8.57 | 0.90 | 0.90 | 2.36 | 156 | &nbsp;&nbsp;98 |
| 12-31-2019 | &nbsp;&nbsp;9.23 | 0.27 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;0.83 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.25) | &nbsp;&nbsp;9.81 | &nbsp;&nbsp;&nbsp;9.03 | 0.90 | 0.90 | 2.76 | 145 | &nbsp;&nbsp;88 |
| 12-31-2018 | &nbsp;&nbsp;9.59 | 0.28 | (0.36) | (0.08) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;9.23 | &nbsp;&nbsp;(0.80) | 0.90 | 0.90 | 2.98 | 141 | &nbsp;&nbsp;63 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | &nbsp;&nbsp;9.80 | 0.27 | (1.63) | (1.36) | (0.31) | (0.06) | (0.37) | &nbsp;&nbsp;8.07 | (13.78) | 0.66 | 0.65 | 3.10 | 420 | &nbsp;&nbsp;91 |
| 12-31-2021 | 10.34 | 0.24 | (0.28) | (0.04) | (0.34) | (0.16) | (0.50) | &nbsp;&nbsp;9.80 | &nbsp;&nbsp;(0.42) | 0.65 | 0.64 | 2.40 | 549 | &nbsp;&nbsp;95 |
| 12-31-2020 | &nbsp;&nbsp;9.80 | 0.27 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.85 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 10.34 | &nbsp;&nbsp;&nbsp;8.73 | 0.65 | 0.65 | 2.61 | 560 | &nbsp;&nbsp;98 |
| 12-31-2019 | &nbsp;&nbsp;9.22 | 0.29 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;0.86 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;9.80 | &nbsp;&nbsp;&nbsp;9.30 | 0.65 | 0.65 | 3.01 | 542 | &nbsp;&nbsp;88 |
| 12-31-2018 | &nbsp;&nbsp;9.58 | 0.30 | (0.36) | (0.06) | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;9.22 | &nbsp;&nbsp;(0.55) | 0.65 | 0.65 | 3.24 | 502 | &nbsp;&nbsp;63 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 13.10 | 0.23 | (2.03) | (1.80) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 11.04 | (13.67) | 0.68 | 0.68 | 1.95 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.23 | 0.11 | (0.39) | (0.28) | (0.26) | (0.59) | (0.85) | 13.10 | &nbsp;&nbsp;(1.96) | 0.67 | 0.66 | 0.82 | &nbsp;&nbsp;84 | 269 |
| 12-31-2020 | 13.41 | 0.20 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;1.15 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 14.23 | &nbsp;&nbsp;&nbsp;8.62 | 0.67 | 0.66 | 1.40 | &nbsp;&nbsp;93 | 354 |
| 12-31-2019 | 12.68 | 0.32 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;1.06 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 13.41 | &nbsp;&nbsp;&nbsp;8.32 | 0.67 | 0.66 | 2.42 | &nbsp;&nbsp;92 | 446 |
| 12-31-2018 | 13.08 | 0.31 | (0.39) | (0.08) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 12.68 | &nbsp;&nbsp;(0.59) | 0.68 | 0.67 | 2.39 | &nbsp;&nbsp;93 | 336 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 13.08 | 0.21 | (2.02) | (1.81) | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 11.03 | (13.81) | 0.88 | 0.88 | 1.76 | &nbsp;&nbsp;64 | 275 |
| 12-31-2021 | 14.22 | 0.09 | (0.41) | (0.32) | (0.23) | (0.59) | (0.82) | 13.08 | &nbsp;&nbsp;(2.23) | 0.87 | 0.86 | 0.62 | &nbsp;&nbsp;79 | 269 |
| 12-31-2020 | 13.39 | 0.17 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.14 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 14.22 | &nbsp;&nbsp;&nbsp;8.50 | 0.87 | 0.86 | 1.20 | &nbsp;&nbsp;85 | 354 |
| 12-31-2019 | 12.67 | 0.29 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;1.02 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | 13.39 | &nbsp;&nbsp;&nbsp;8.04 | 0.87 | 0.86 | 2.23 | &nbsp;&nbsp;81 | 446 |
| 12-31-2018 | 13.07 | 0.28 | (0.39) | (0.11) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 12.67 | &nbsp;&nbsp;(0.79) | 0.88 | 0.87 | 2.18 | &nbsp;&nbsp;82 | 336 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 13.03 | 0.24 | (2.02) | (1.78) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 10.98 | (13.62) | 0.63 | 0.63 | 2.00 | 658 | 275 |
| 12-31-2021 | 14.17 | 0.12 | (0.41) | (0.29) | (0.26) | (0.59) | (0.85) | 13.03 | &nbsp;&nbsp;(1.99) | 0.62 | 0.61 | 0.87 | 836 | 269 |
| 12-31-2020 | 13.34 | 0.20 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.17 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 14.17 | &nbsp;&nbsp;&nbsp;8.80 | 0.62 | 0.61 | 1.46 | 867 | 354 |
| 12-31-2019 | 12.62 | 0.33 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;1.05 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 13.34 | &nbsp;&nbsp;&nbsp;8.34 | 0.62 | 0.61 | 2.47 | 918 | 446 |
| 12-31-2018 | 13.02 | 0.31 | (0.39) | (0.08) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 12.62 | &nbsp;&nbsp;(0.54) | 0.63 | 0.62 | 2.44 | 889 | 336 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | &nbsp;&nbsp;5.30 | 0.29 | (1.00) | (0.71) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.30 | (13.25) | 0.85 | 0.84 | 6.03 | &nbsp;&nbsp;50 | 32 |
| 12-31-2021 | &nbsp;&nbsp;5.27 | 0.27 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.31 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.30 | &nbsp;&nbsp;&nbsp;5.82 | 0.83 | 0.82 | 4.99 | &nbsp;&nbsp;64 | 76 |
| 12-31-2020 | &nbsp;&nbsp;5.31 | 0.28 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.29 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;5.27 | &nbsp;&nbsp;&nbsp;5.81 | 0.85 | 0.85 | 5.47 | &nbsp;&nbsp;65 | 96 |
| 12-31-2019 | &nbsp;&nbsp;4.84 | 0.30 | &nbsp;&nbsp;0.46 | &nbsp;&nbsp;0.76 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;5.31 | &nbsp;&nbsp;15.66 | 0.80<sup>3</sup> | 0.79<sup>3</sup> | 5.62 | &nbsp;&nbsp;68 | 57 |
| 12-31-2018 | &nbsp;&nbsp;5.32 | 0.31 | (0.47) | (0.16) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;4.84 | &nbsp;&nbsp;(3.01) | 0.83 | 0.82 | 5.89 | &nbsp;&nbsp;67 | 54 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | &nbsp;&nbsp;5.45 | 0.28 | (1.02) | (0.74) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;4.43 | (13.45) | 1.05 | 1.04 | 5.80 | &nbsp;&nbsp;33 | 32 |
| 12-31-2021 | &nbsp;&nbsp;5.41 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | &nbsp;&nbsp;5.45 | &nbsp;&nbsp;&nbsp;5.67 | 1.03 | 1.02 | 4.79 | &nbsp;&nbsp;48 | 76 |
| 12-31-2020 | &nbsp;&nbsp;5.44 | 0.28 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.29 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;5.41 | &nbsp;&nbsp;&nbsp;5.67 | 1.05 | 1.05 | 5.27 | &nbsp;&nbsp;47 | 96 |
| 12-31-2019 | &nbsp;&nbsp;4.96 | 0.29 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;0.76 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.44 | &nbsp;&nbsp;15.50 | 1.00<sup>3</sup> | 0.99<sup>3</sup> | 5.42 | &nbsp;&nbsp;52 | 57 |
| 12-31-2018 | &nbsp;&nbsp;5.43 | 0.31 | (0.47) | (0.16) | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | &nbsp;&nbsp;4.96 | &nbsp;&nbsp;(3.15) | 1.03 | 1.02 | 5.69 | &nbsp;&nbsp;50 | 54 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | &nbsp;&nbsp;5.20 | 0.28 | (0.97) | (0.69) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;4.22 | (13.07) | 0.80 | 0.79 | 6.12 | &nbsp;&nbsp;85 | 32 |
| 12-31-2021 | &nbsp;&nbsp;5.18 | 0.27 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.30 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;5.20 | &nbsp;&nbsp;&nbsp;5.78 | 0.78 | 0.77 | 5.05 | &nbsp;&nbsp;96 | 76 |
| 12-31-2020 | &nbsp;&nbsp;5.23 | 0.28 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>4</sup> | &nbsp;&nbsp;0.28 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;5.18 | &nbsp;&nbsp;&nbsp;5.77 | 0.80 | 0.80 | 5.52 | &nbsp;&nbsp;84 | 96 |
| 12-31-2019 | &nbsp;&nbsp;4.77 | 0.29 | &nbsp;&nbsp;0.46 | &nbsp;&nbsp;0.75 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;5.23 | &nbsp;&nbsp;15.99 | 0.75<sup>3</sup> | 0.74<sup>3</sup> | 5.66 | &nbsp;&nbsp;86 | 57 |
| 12-31-2018 | &nbsp;&nbsp;5.24 | 0.31 | (0.46) | (0.15) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;4.77 | &nbsp;&nbsp;(3.02) | 0.78 | 0.77 | 5.94 | &nbsp;&nbsp;80 | 54 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes reimbursement of legal fees of 0.05%. 4. Less than $0.005 per share.** |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 11.50 | 0.27 | (2.01) | (1.74) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.22 | (14.88) | 0.76 | 0.75 | 2.62 | 100 | 39 |
| 12-31-2021 | 12.17 | 0.22 | (0.37) | (0.15) | (0.25) | (0.27) | (0.52) | 11.50 | &nbsp;&nbsp;(1.26) | 0.74 | 0.73 | 1.86 | 134 | 37 |
| 12-31-2020 | 11.39 | 0.26 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.06 | (0.27) | (0.01) | (0.28) | 12.17 | &nbsp;&nbsp;&nbsp;9.37 | 0.75 | 0.74 | 2.15 | 142 | 51 |
| 12-31-2019 | 10.68 | 0.30 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;1.00 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 11.39 | &nbsp;&nbsp;&nbsp;9.36 | 0.75 | 0.74 | 2.70 | 139 | 45 |
| 12-31-2018 | 11.15 | 0.29 | (0.38) | (0.09) | (0.30) | (0.08) | (0.38) | 10.68 | &nbsp;&nbsp;(0.82) | 0.73 | 0.72 | 2.66 | 135 | 44 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.50 | 0.25 | (2.00) | (1.75) | (0.31) | (0.21) | (0.52) | &nbsp;&nbsp;9.23 | (15.06) | 0.96 | 0.95 | 2.42 | &nbsp;&nbsp;51 | 39 |
| 12-31-2021 | 12.18 | 0.20 | (0.39) | (0.19) | (0.22) | (0.27) | (0.49) | 11.50 | &nbsp;&nbsp;(1.45) | 0.94 | 0.93 | 1.66 | &nbsp;&nbsp;71 | 37 |
| 12-31-2020 | 11.40 | 0.23 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;1.04 | (0.25) | (0.01) | (0.26) | 12.18 | &nbsp;&nbsp;&nbsp;9.15 | 0.95 | 0.94 | 1.95 | &nbsp;&nbsp;80 | 51 |
| 12-31-2019 | 10.69 | 0.28 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;0.98 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 11.40 | &nbsp;&nbsp;&nbsp;9.15 | 0.95 | 0.94 | 2.49 | &nbsp;&nbsp;76 | 45 |
| 12-31-2018 | 11.15 | 0.27 | (0.37) | (0.10) | (0.28) | (0.08) | (0.36) | 10.69 | &nbsp;&nbsp;(0.93) | 0.93 | 0.92 | 2.46 | &nbsp;&nbsp;71 | 44 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 11.45 | 0.27 | (2.00) | (1.73) | (0.33) | (0.21) | (0.54) | &nbsp;&nbsp;9.18 | (14.88) | 0.71 | 0.70 | 2.70 | &nbsp;&nbsp;56 | 39 |
| 12-31-2021 | 12.13 | 0.23 | (0.39) | (0.16) | (0.25) | (0.27) | (0.52) | 11.45 | &nbsp;&nbsp;(1.21) | 0.69 | 0.68 | 1.91 | &nbsp;&nbsp;65 | 37 |
| 12-31-2020 | 11.35 | 0.26 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;1.07 | (0.28) | (0.01) | (0.29) | 12.13 | &nbsp;&nbsp;&nbsp;9.46 | 0.70 | 0.69 | 2.19 | &nbsp;&nbsp;44 | 51 |
| 12-31-2019 | 10.65 | 0.31 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.99 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 11.35 | &nbsp;&nbsp;&nbsp;9.35 | 0.70 | 0.69 | 2.74 | &nbsp;&nbsp;41 | 45 |
| 12-31-2018 | 11.11 | 0.30 | (0.38) | (0.08) | (0.30) | (0.08) | (0.38) | 10.65 | &nbsp;&nbsp;(0.68) | 0.68 | 0.67 | 2.72 | &nbsp;&nbsp;39 | 44 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.013 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.29 | 0.44 | 0.33 | 1.33 | 1778 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.44 | 0.07 | &nbsp;&nbsp;&nbsp;— | 1522 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.003 | (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.003) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.31 | 0.44 | 0.24 | 0.26 | 1835 | &nbsp;&nbsp;— |
| 12-31-2019 | &nbsp;&nbsp;1.00 | 0.019 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.019 | (0.019) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.019) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.93 | 0.46 | 0.33 | 1.91 | 1420 | &nbsp;&nbsp;— |
| 12-31-2018 | &nbsp;&nbsp;1.00 | 0.015 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.015 | (0.015) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.015) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.54 | 0.47 | 0.33 | 1.53 | 1415 | &nbsp;&nbsp;— |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.010 | &nbsp;&nbsp;0.001 | 0.011 | (0.011) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.011) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.07 | 0.64 | 0.53 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.64 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | (0.001) | 0.002 | (0.002) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.002) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.24 | 0.64 | 0.32 | 0.26 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;— |
| 12-31-2019 | &nbsp;&nbsp;1.00 | 0.017 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.017 | (0.017) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.017) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.73 | 0.66 | 0.53 | 1.73 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;— |
| 12-31-2018 | &nbsp;&nbsp;1.00 | 0.013 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.34 | 0.67 | 0.53 | 1.31 | &nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;— |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | &nbsp;&nbsp;1.00 | 0.014 | (0.001) | 0.013 | (0.013) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.013) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.34 | 0.39 | 0.28 | 1.36 | &nbsp;&nbsp;&nbsp;484 | &nbsp;&nbsp;— |
| 12-31-2021 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.00<sup>4</sup> | 0.39 | 0.07 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;— |
| 12-31-2020 | &nbsp;&nbsp;1.00 | 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.003 | (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.003) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;0.33 | 0.39 | 0.22 | 0.31 | &nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp;— |
| 12-31-2019 | &nbsp;&nbsp;1.00 | 0.020 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.020 | (0.020) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.020) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.98 | 0.41 | 0.28 | 1.97 | &nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;— |
| 12-31-2018 | &nbsp;&nbsp;1.00 | 0.016 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | 0.016 | (0.016) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.016) | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;1.59 | 0.42 | 0.28 | 1.59 | &nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;— |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.0005 per share. 4. Less than 0.005%.** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 12.31 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;(1.87) | (1.40) | &nbsp;&nbsp;(0.30) | (0.13) | &nbsp;&nbsp;(0.43) | 10.48 | (11.12) | 0.90 | 0.82 | 4.31 | &nbsp;&nbsp;&nbsp;&nbsp;21 | 119 |
| 12-31-2021 | 13.47 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;(0.66) | (0.28) | &nbsp;&nbsp;(0.37) | (0.51) | &nbsp;&nbsp;(0.88) | 12.31 | &nbsp;&nbsp;(2.02) | 0.85 | 0.82 | 2.90 | &nbsp;&nbsp;&nbsp;&nbsp;29 | 126 |
| 12-31-2020 | 12.30 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.52) | 13.47 | &nbsp;&nbsp;13.79 | 0.92<sup>3</sup> | 0.85<sup>3</sup> | 2.34 | &nbsp;&nbsp;&nbsp;&nbsp;32 | 326<sup>4</sup> |
| 12-31-2019 | 12.34 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;(0.82) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.82) | 12.30 | &nbsp;&nbsp;&nbsp;6.38 | 1.16<sup>3</sup> | 1.12<sup>3</sup> | 2.23 | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;45 |
| 12-31-2018 | 12.93 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;(0.53) | (0.24) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | 12.34 | &nbsp;&nbsp;(1.90) | 0.84 | 0.82 | 2.31 | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;35 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 12.10 | &nbsp;&nbsp;0.44 | &nbsp;&nbsp;(1.84) | (1.40) | &nbsp;&nbsp;(0.28) | (0.13) | &nbsp;&nbsp;(0.41) | 10.29 | (11.26) | 1.10 | 1.02 | 4.11 | &nbsp;&nbsp;&nbsp;&nbsp;43 | 119 |
| 12-31-2021 | 13.25 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;(0.64) | (0.29) | &nbsp;&nbsp;(0.35) | (0.51) | &nbsp;&nbsp;(0.86) | 12.10 | &nbsp;&nbsp;(2.26) | 1.05 | 1.02 | 2.70 | &nbsp;&nbsp;&nbsp;&nbsp;56 | 126 |
| 12-31-2020 | 12.11 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;1.64 | &nbsp;&nbsp;(0.50) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.50) | 13.25 | &nbsp;&nbsp;13.63 | 1.12<sup>3</sup> | 1.05<sup>3</sup> | 2.11 | &nbsp;&nbsp;&nbsp;&nbsp;59 | 326<sup>4</sup> |
| 12-31-2019 | 12.17 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;0.49 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;(0.80) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.80) | 12.11 | &nbsp;&nbsp;&nbsp;6.08 | 1.36<sup>3</sup> | 1.32<sup>3</sup> | 2.03 | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;45 |
| 12-31-2018 | 12.77 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;(0.52) | (0.26) | &nbsp;&nbsp;(0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.34) | 12.17 | &nbsp;&nbsp;(2.03) | 1.04 | 1.02 | 2.10 | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;35 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 12.25 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;(1.86) | (1.38) | &nbsp;&nbsp;(0.31) | (0.13) | &nbsp;&nbsp;(0.44) | 10.43 | (10.96) | 0.85 | 0.77 | 4.38 | &nbsp;&nbsp;&nbsp;&nbsp;96 | 119 |
| 12-31-2021 | 13.41 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;(0.66) | (0.27) | &nbsp;&nbsp;(0.38) | (0.51) | &nbsp;&nbsp;(0.89) | 12.25 | &nbsp;&nbsp;(2.06) | 0.80 | 0.77 | 2.95 | &nbsp;&nbsp;&nbsp;126 | 126 |
| 12-31-2020 | 12.25 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;(0.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.53) | 13.41 | &nbsp;&nbsp;13.90 | 0.87<sup>3</sup> | 0.80<sup>3</sup> | 2.35 | &nbsp;&nbsp;&nbsp;106 | 326<sup>4</sup> |
| 12-31-2019 | 12.30 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;(0.83) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.83) | 12.25 | &nbsp;&nbsp;&nbsp;6.37 | 1.11<sup>3</sup> | 1.07<sup>3</sup> | 2.28 | &nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;45 |
| 12-31-2018 | 12.88 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;(0.50) | (0.23) | &nbsp;&nbsp;(0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;(0.35) | 12.30 | &nbsp;&nbsp;(1.74) | 0.79 | 0.77 | 2.11 | &nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;35 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 4. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 13.94 | 0.32 | (2.32) | (2.00) | (0.38) | (0.10) | (0.48) | 11.46 | (14.20) | 0.66 | 0.62 | 2.56 | &nbsp;&nbsp;&nbsp;135 | 120 |
| 12-31-2021 | 14.59 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.94 | &nbsp;&nbsp;(1.20) | 0.65 | 0.61 | 1.94 | &nbsp;&nbsp;&nbsp;177 | 132 |
| 12-31-2020 | 13.79 | 0.34 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.25 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | 14.59 | &nbsp;&nbsp;&nbsp;9.08 | 0.65 | 0.62 | 2.36 | &nbsp;&nbsp;&nbsp;179 | 118 |
| 12-31-2019 | 12.99 | 0.35 | &nbsp;&nbsp;0.81 | &nbsp;&nbsp;1.16 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.36) | 13.79 | &nbsp;&nbsp;&nbsp;8.95 | 0.65 | 0.62 | 2.55 | &nbsp;&nbsp;&nbsp;176 | 137 |
| 12-31-2018 | 13.42 | 0.34 | (0.40) | (0.06) | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | 12.99 | &nbsp;&nbsp;(0.43) | 0.65 | 0.62 | 2.61 | &nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;83 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 13.96 | 0.30 | (2.32) | (2.02) | (0.36) | (0.10) | (0.46) | 11.48 | (14.38) | 0.86 | 0.82 | 2.40 | &nbsp;&nbsp;&nbsp;413 | 120 |
| 12-31-2021 | 14.61 | 0.25 | (0.45) | (0.20) | (0.38) | (0.07) | (0.45) | 13.96 | &nbsp;&nbsp;(1.39) | 0.85 | 0.81 | 1.74 | &nbsp;&nbsp;&nbsp;415 | 132 |
| 12-31-2020 | 13.81 | 0.31 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.22 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 14.61 | &nbsp;&nbsp;&nbsp;8.86 | 0.85 | 0.82 | 2.18 | &nbsp;&nbsp;&nbsp;437 | 118 |
| 12-31-2019 | 13.01 | 0.32 | &nbsp;&nbsp;0.82 | &nbsp;&nbsp;1.14 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 13.81 | &nbsp;&nbsp;&nbsp;8.73 | 0.85 | 0.82 | 2.35 | &nbsp;&nbsp;&nbsp;423 | 137 |
| 12-31-2018 | 13.44 | 0.32 | (0.41) | (0.09) | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 13.01 | &nbsp;&nbsp;(0.63) | 0.85 | 0.82 | 2.42 | &nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;83 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 13.93 | 0.33 | (2.32) | (1.99) | (0.39) | (0.10) | (0.49) | 11.45 | (14.16) | 0.61 | 0.58 | 2.61 | 5411 | 120 |
| 12-31-2021 | 14.58 | 0.28 | (0.45) | (0.17) | (0.41) | (0.07) | (0.48) | 13.93 | &nbsp;&nbsp;(1.15) | 0.60 | 0.57 | 1.98 | 7199 | 132 |
| 12-31-2020 | 13.78 | 0.35 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;1.25 | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.45) | 14.58 | &nbsp;&nbsp;&nbsp;9.14 | 0.60 | 0.58 | 2.40 | 7212 | 118 |
| 12-31-2019 | 12.98 | 0.35 | &nbsp;&nbsp;0.82 | &nbsp;&nbsp;1.17 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | 13.78 | &nbsp;&nbsp;&nbsp;9.01 | 0.60 | 0.58 | 2.60 | 7703 | 137 |
| 12-31-2018 | 13.41 | 0.35 | (0.41) | (0.06) | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | 12.98 | &nbsp;&nbsp;(0.38) | 0.60 | 0.57 | 2.66 | 7528 | &nbsp;&nbsp;83 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 11.88 | 0.12 | (0.89) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.48) | 0.72 | 0.71 | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.59) | 0.70 | 0.69 | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.07 | 0.16 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.43 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 12.29 | &nbsp;&nbsp;&nbsp;3.60 | 0.71 | 0.71 | 1.30 | &nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;38 |
| 12-31-2019 | 11.87 | 0.15 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.40 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | 12.07 | &nbsp;&nbsp;&nbsp;3.39 | 0.71 | 0.71 | 1.25 | &nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;54 |
| 12-31-2018 | 12.02 | 0.15 | (0.05) | &nbsp;&nbsp;0.10 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.25) | 11.87 | &nbsp;&nbsp;&nbsp;0.84 | 0.68 | 0.67 | 1.26 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;28 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.89 | 0.10 | (0.89) | (0.79) | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | 10.95 | &nbsp;&nbsp;(6.67) | 0.92 | 0.91 | 0.89 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.30 | 0.10 | (0.32) | (0.22) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.89 | &nbsp;&nbsp;(1.78) | 0.90 | 0.89 | 0.84 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.08 | 0.14 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.41 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 12.30 | &nbsp;&nbsp;&nbsp;3.39 | 0.91 | 0.91 | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;38 |
| 12-31-2019 | 11.88 | 0.13 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.38 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 12.08 | &nbsp;&nbsp;&nbsp;3.18 | 0.91 | 0.91 | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;54 |
| 12-31-2018 | 12.02 | 0.13 | (0.05) | &nbsp;&nbsp;0.08 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;&nbsp;0.64 | 0.88 | 0.87 | 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;28 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 11.88 | 0.13 | (0.90) | (0.77) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.94 | &nbsp;&nbsp;(6.43) | 0.67 | 0.66 | 1.15 | &nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;52 |
| 12-31-2021 | 12.29 | 0.13 | (0.32) | (0.19) | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.88 | &nbsp;&nbsp;(1.54) | 0.65 | 0.64 | 1.09 | &nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;32 |
| 12-31-2020 | 12.07 | 0.17 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.44 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 12.29 | &nbsp;&nbsp;&nbsp;3.65 | 0.66 | 0.66 | 1.35 | &nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;38 |
| 12-31-2019 | 11.87 | 0.16 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.41 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 12.07 | &nbsp;&nbsp;&nbsp;3.44 | 0.66 | 0.66 | 1.30 | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;54 |
| 12-31-2018 | 12.02 | 0.15 | (0.05) | &nbsp;&nbsp;0.10 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.25) | 11.87 | &nbsp;&nbsp;&nbsp;0.89 | 0.63 | 0.62 | 1.28 | &nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;28 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 14.07 | 0.38 | (1.81) | (1.43) | (0.46) |  | (0.46) | 12.18 | (10.06) | 0.78 | 0.77 | 2.97 | 238 | 48 |
| 12-31-2021 | 14.44 | 0.37 | (0.25) | &nbsp;&nbsp;0.12 | (0.49) |  | (0.49) | 14.07 | &nbsp;&nbsp;&nbsp;0.90 | 0.76 | 0.75 | 2.56 | 301 | 61 |
| 12-31-2020 | 13.52 | 0.35 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.15 | (0.23) |  | (0.23) | 14.44 | &nbsp;&nbsp;&nbsp;8.59 | 0.76 | 0.76 | 2.54 | 333 | 73 |
| 12-31-2019 | 12.53 | 0.40 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;1.36 | (0.37) |  | (0.37) | 13.52 | &nbsp;&nbsp;10.91 | 0.76 | 0.76 | 3.03 | 361 | 95 |
| 12-31-2018 | 13.72 | 0.49 | (1.17) | (0.68) | (0.51) |  | (0.51) | 12.53 | &nbsp;&nbsp;(5.03) | 0.74 | 0.73 | 3.63 | 371 | 61 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 14.11 | 0.36 | (1.82) | (1.46) | (0.43) |  | (0.43) | 12.22 | (10.30) | 0.98 | 0.97 | 2.80 | &nbsp;&nbsp;52 | 48 |
| 12-31-2021 | 14.47 | 0.34 | (0.24) | &nbsp;&nbsp;0.10 | (0.46) |  | (0.46) | 14.11 | &nbsp;&nbsp;&nbsp;0.70 | 0.96 | 0.95 | 2.36 | &nbsp;&nbsp;51 | 61 |
| 12-31-2020 | 13.56 | 0.32 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.12 | (0.21) |  | (0.21) | 14.47 | &nbsp;&nbsp;&nbsp;8.36 | 0.96 | 0.96 | 2.34 | &nbsp;&nbsp;38 | 73 |
| 12-31-2019 | 12.56 | 0.38 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.35 | (0.35) |  | (0.35) | 13.56 | &nbsp;&nbsp;10.75 | 0.96 | 0.96 | 2.83 | &nbsp;&nbsp;36 | 95 |
| 12-31-2018 | 13.76 | 0.46 | (1.18) | (0.72) | (0.48) |  | (0.48) | 12.56 | &nbsp;&nbsp;(5.29) | 0.94 | 0.93 | 3.43 | &nbsp;&nbsp;36 | 61 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 14.03 | 0.39 | (1.82) | (1.43) | (0.46) |  | (0.46) | 12.14 | (10.05) | 0.73 | 0.72 | 3.03 | &nbsp;&nbsp;84 | 48 |
| 12-31-2021 | 14.39 | 0.38 | (0.24) | &nbsp;&nbsp;0.14 | (0.50) |  | (0.50) | 14.03 | &nbsp;&nbsp;&nbsp;0.95 | 0.71 | 0.70 | 2.61 | &nbsp;&nbsp;96 | 61 |
| 12-31-2020 | 13.48 | 0.35 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.15 | (0.24) |  | (0.24) | 14.39 | &nbsp;&nbsp;&nbsp;8.60 | 0.71 | 0.71 | 2.59 | &nbsp;&nbsp;87 | 73 |
| 12-31-2019 | 12.49 | 0.41 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;1.37 | (0.38) |  | (0.38) | 13.48 | &nbsp;&nbsp;11.00 | 0.71 | 0.71 | 3.08 | &nbsp;&nbsp;80 | 95 |
| 12-31-2018 | 13.68 | 0.49 | (1.16) | (0.67) | (0.52) |  | (0.52) | 12.49 | &nbsp;&nbsp;(5.00) | 0.69 | 0.68 | 3.68 | &nbsp;&nbsp;79 | 61 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 10.45 | 0.22 | (1.64) | (1.42) | (0.25) |  | (0.25) | &nbsp;&nbsp;8.78 | (13.49) | 0.57 | 0.30 | 2.29 | 271 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.24) |  | (0.24) | 10.45 | &nbsp;&nbsp;(1.81) | 0.57 | 0.30 | 1.58 | 336 | 32 |
| 12-31-2020 | 10.39 | 0.21 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.75 | (0.25) |  | (0.25) | 10.89 | &nbsp;&nbsp;&nbsp;7.23 | 0.57 | 0.30 | 1.93 | 389 | 40 |
| 12-31-2019 | &nbsp;&nbsp;9.82 | 0.26 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.81 | (0.24) |  | (0.24) | 10.39 | &nbsp;&nbsp;&nbsp;8.24 | 0.57 | 0.30 | 2.49 | 311 | 36 |
| 12-31-2018 | 10.11 | 0.25 | (0.27) | (0.02) | (0.27) |  | (0.27) | &nbsp;&nbsp;9.82 | &nbsp;&nbsp;(0.19) | 0.57 | 0.30 | 2.57 | 256 | 22 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 10.46 | 0.20 | (1.63) | (1.43) | (0.23) |  | (0.23) | &nbsp;&nbsp;8.80 | (13.58) | 0.77 | 0.50 | 2.08 | &nbsp;&nbsp;49 | 38 |
| 12-31-2021 | 10.91 | 0.15 | (0.38) | (0.23) | (0.22) |  | (0.22) | 10.46 | &nbsp;&nbsp;(2.10) | 0.77 | 0.50 | 1.38 | &nbsp;&nbsp;62 | 32 |
| 12-31-2020 | 10.40 | 0.19 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.74 | (0.23) |  | (0.23) | 10.91 | &nbsp;&nbsp;&nbsp;7.11 | 0.77 | 0.50 | 1.73 | &nbsp;&nbsp;81 | 40 |
| 12-31-2019 | &nbsp;&nbsp;9.83 | 0.24 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.79 | (0.22) |  | (0.22) | 10.40 | &nbsp;&nbsp;&nbsp;8.02 | 0.77 | 0.50 | 2.29 | &nbsp;&nbsp;57 | 36 |
| 12-31-2018 | 10.13 | 0.23 | (0.28) | (0.05) | (0.25) |  | (0.25) | &nbsp;&nbsp;9.83 | &nbsp;&nbsp;(0.49) | 0.77 | 0.50 | 2.37 | &nbsp;&nbsp;57 | 22 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 10.44 | 0.22 | (1.62) | (1.40) | (0.26) |  | (0.26) | &nbsp;&nbsp;8.78 | (13.36) | 0.52 | 0.25 | 2.39 | 542 | 38 |
| 12-31-2021 | 10.89 | 0.17 | (0.37) | (0.20) | (0.25) |  | (0.25) | 10.44 | &nbsp;&nbsp;(1.86) | 0.52 | 0.25 | 1.62 | 350 | 32 |
| 12-31-2020 | 10.38 | 0.22 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;0.76 | (0.25) |  | (0.25) | 10.89 | &nbsp;&nbsp;&nbsp;7.39 | 0.52 | 0.25 | 1.99 | 329 | 40 |
| 12-31-2019 | &nbsp;&nbsp;9.81 | 0.26 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.81 | (0.24) |  | (0.24) | 10.38 | &nbsp;&nbsp;&nbsp;8.30 | 0.52 | 0.25 | 2.54 | 271 | 36 |
| 12-31-2018 | 10.11 | 0.26 | (0.29) | (0.03) | (0.27) |  | (0.27) | &nbsp;&nbsp;9.81 | &nbsp;&nbsp;(0.24) | 0.52 | 0.25 | 2.62 | 252 | 22 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>2</sup> | Expenses<br> before<br> reductions<br> (%) | Expenses<br> including<br> reductions<br> (%) | Net<br> investment<br> income<br> (loss) (%) | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 11.19 | 0.10 | (0.20) | (0.10) | (0.16) |  | (0.16) | 10.93 | (0.84) | 0.67 | 0.61 | 0.94 | &nbsp;&nbsp;10 | 54 |
| 12-31-2021 | 11.46 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.19 | (0.46) | 0.67 | 0.60 | 0.34 | &nbsp;&nbsp;11 | 47 |
| 12-31-2020 | 11.51 | 0.14 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.17 | (0.22) |  | (0.22) | 11.46 | &nbsp;&nbsp;1.47 | 0.67 | 0.60 | 1.21 | &nbsp;&nbsp;15 | 71 |
| 12-31-2019 | 11.37 | 0.23 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.35 | (0.21) |  | (0.21) | 11.51 | &nbsp;&nbsp;3.12 | 0.67 | 0.62 | 2.02 | &nbsp;&nbsp;12 | 64 |
| 12-31-2018 | 11.41 | 0.16 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.16 | (0.20) |  | (0.20) | 11.37 | &nbsp;&nbsp;1.40 | 0.68 | 0.65 | 1.42 | &nbsp;&nbsp;12 | 59 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.19 | 0.09 | (0.21) | (0.12) | (0.14) |  | (0.14) | 10.93 | (1.04) | 0.87 | 0.81 | 0.77 | 228 | 54 |
| 12-31-2021 | 11.46 | 0.02 | (0.10) | (0.08) | (0.19) |  | (0.19) | 11.19 | (0.66) | 0.87 | 0.80 | 0.15 | 197 | 47 |
| 12-31-2020 | 11.51 | 0.12 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.15 | (0.20) |  | (0.20) | 11.46 | &nbsp;&nbsp;1.28 | 0.87 | 0.80 | 1.02 | 255 | 71 |
| 12-31-2019 | 11.37 | 0.21 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.33 | (0.19) |  | (0.19) | 11.51 | &nbsp;&nbsp;2.91 | 0.87 | 0.82 | 1.82 | 234 | 64 |
| 12-31-2018 | 11.41 | 0.14 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.14 | (0.18) |  | (0.18) | 11.37 | &nbsp;&nbsp;1.19 | 0.88 | 0.85 | 1.21 | 193 | 59 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 11.20 | 0.11 | (0.21) | (0.10) | (0.17) |  | (0.17) | 10.93 | (0.88) | 0.62 | 0.56 | 0.97 | &nbsp;&nbsp;35 | 54 |
| 12-31-2021 | 11.47 | 0.04 | (0.09) | (0.05) | (0.22) |  | (0.22) | 11.20 | (0.41) | 0.62 | 0.55 | 0.38 | &nbsp;&nbsp;38 | 47 |
| 12-31-2020 | 11.51 | 0.15 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.19 | (0.23) |  | (0.23) | 11.47 | &nbsp;&nbsp;1.61 | 0.62 | 0.55 | 1.27 | &nbsp;&nbsp;34 | 71 |
| 12-31-2019 | 11.38 | 0.24 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;0.35 | (0.22) |  | (0.22) | 11.51 | &nbsp;&nbsp;3.08 | 0.62 | 0.57 | 2.07 | &nbsp;&nbsp;31 | 64 |
| 12-31-2018 | 11.41 | 0.17 | &nbsp;&nbsp;&nbsp;&nbsp;—<sup>3</sup> | &nbsp;&nbsp;0.17 | (0.20) |  | (0.20) | 11.38 | &nbsp;&nbsp;1.53 | 0.63 | 0.60 | 1.46 | &nbsp;&nbsp;31 | 59 |
| **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** | **1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements

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1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, eleven of which are presented in this report (the portfolios).

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation except in the case of the Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. Series II and Series NAV of Core Bond Trust, Series II of Select Bond Trust and Series II and Series NAV of Strategic Income Opportunities Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor's Valuation Policies and Procedures.**

In order to value the securities, the portfolios use the following valuation techniques: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

Securities held by Money Market Trust are valued at amortized cost, in accordance with Rule 2a-7 under the 1940 Act, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and the cost of the security to the portfolio. The portfolio seeks to maintain a constant NAV per share of $1.00, but there can be no assurance that it will be able to do so.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

**Significant accounting policies, continued specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.**

The following is a summary of the values by input classification of the portfolios' investments as of December 31, 2022, by major security category or type:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$212392663** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$212392663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3553473** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3553473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**227713750** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227713750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1158687** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3407242** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3407242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**691491** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51233727** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51233727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36371819** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36371819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**266869** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$266869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**363283** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Escrow certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**265** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12007133** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12007133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$549160402** | **$12637285** | **$536523117** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$446808571** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$446808571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6784240** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6784240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186674302** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186674302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2764694** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2764694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**74700376** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74700376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90945484** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90945484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6153473** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6153473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$814831140** | &nbsp;&nbsp;&nbsp;**$6153473** | **$808677667** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$571844** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$571844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**138899743** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138899743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1459201** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7779916** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7342256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$437660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11506387** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11506387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**872963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$858279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1252768** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3470336** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3470336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$165813158** | &nbsp;&nbsp;&nbsp;**$5042809** | **$159779431** | **$990918** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$29981** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60863** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9039)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(9039) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(70362)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Significant accounting policies, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$133795597** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$133795597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7625258** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7625258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**51204210** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51204210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3855875** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**29168119** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29168119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22935837** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22935837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9392** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7100000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$255694288** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$255694288** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$596659** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$596659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1099646** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1099646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(117884)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117884) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(91984)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** | **Money Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$107237305** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107237305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1716559205** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716559205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase agreement | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**509354000** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$2333150510** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | **$2333150510** | **—** |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$29527321** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29527321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**68089886** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68089886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36595452** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36595452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6117693** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6117693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6028276** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6028276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6267222** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6267222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5183686** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5183686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5171074** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3179** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**363474** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exchange-traded funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**488984** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15399041** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15331299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$179235288** | **$16178719** | &nbsp;&nbsp;&nbsp;&nbsp;**$163056569** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1583515** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1583515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**461386** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$461386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1767136** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(524711)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(524711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(877012)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(877012) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2487426)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2487426) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2572472780** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2572472780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8464213** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8464213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1817900138** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817900138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**54095963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54095963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**632898600** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632898600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**818010020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818010020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**195160389** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$195160389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$6099002103** | **$195160389** | **$5903841714** | **—** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale commitments outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5971435)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5971435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24502** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$151440969** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$151440969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7563378** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7563378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1208166** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**484928** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$484928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$160697441** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$484928** | &nbsp;&nbsp;&nbsp;&nbsp;**$160212513** | **—** |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$48834428** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48834428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**83820695** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83820695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**181597259** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181597259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9139970** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**462262** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**135104** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3175843** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20438887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20438887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5518259** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5518259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1542278** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1542278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11387209** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10151667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**60826** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8306745** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8306745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$374419765** | &nbsp;&nbsp;&nbsp;**$20000690** | &nbsp;&nbsp;&nbsp;&nbsp;**$354419075** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$43256** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5862887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5862887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9211039)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9211039) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(17846)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* | *Level 3 includes securities valued at $0. Refer to Portfolio of Investments.* |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$600225800** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$600225800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign government obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6034268** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**220737835** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220737835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3640887** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3640887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18011208** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18011208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1310888** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7240** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4633816** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4633816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$854601942** | **$4641056** | **$849960886** | **—** |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1754363** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1754363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**147763253** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147763253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1964481** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Collateralized mortgage obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1049721** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset backed securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**46358750** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46358750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**74284787** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1046684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73238103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$273175355** | **$1046684** | **$272128671** | **—** |

---

**Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolios. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.**

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay claims resulting from close-out of the transactions.

**When-issued/delayed-delivery securities. The portfolios may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a "To Be Announced" (TBA) or "forward commitment" transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a portfolio enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues until settlement takes place. At the time that the portfolio enters into this type of transaction, the portfolio is required to have sufficient cash and/or liquid securities to cover its commitments.** 

Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer's failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date. As a result, the portfolios have paid (received) cash collateral to (from) certain counterparties to these transactions, which is recorded as Cash collateral at broker for sale commitments (Payable for collateral on sale commitments), as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Paid/ (Received)** |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;$60000 |

---

**Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.** 

The portfolios' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

**Significant accounting policies, continued adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor's credit analysis of the borrower and/or term loan agents. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.**

**Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.**

**Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolios may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.**

**Mortgage and asset backed securities. The portfolios may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the portfolios having to reinvest the proceeds in lower yielding securities, effectively reducing the portfolios' income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the portfolios' cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The portfolios are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market's perception of the issuers and changes in interest rates.**

**Payment-in-kind bonds. The portfolios may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. Income on these securities is computed at the contractual rate specified and is added to the principal balance of the bond. This income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the portfolios may need to sell other investments to make distributions.**

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.**

**Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios may invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.** 

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the portfolios will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at December 31, 2022:

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value of securities on loan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash collateral received** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$193268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$197150 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;3247270 | &nbsp;&nbsp;&nbsp;&nbsp;3347065 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293876 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;3827862 | &nbsp;&nbsp;&nbsp;&nbsp;3907610 |

---

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.** 

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

**Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.**

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds, excluding Core Bond Trust, have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.** 

Core Bond Trust and other affiliated funds have entered into an unsecured $50 million line of credit agreement with BNP Paribas. Subject to the needs of other affiliated funds, Core Bond Trust can borrow up to the $50 million, subject to asset coverage and other limitations as specified in the agreement.

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the year ended December 31, 2022, the portfolios had no borrowings under the line of credit.

Commitment fees for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$4925 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22578 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10128 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3635 |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$23645 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3624 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and the portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

For federal income tax purposes, as of December 31, 2022, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2022:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$17403825 | &nbsp;&nbsp;&nbsp;&nbsp;$11326073 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53993059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26538464 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67633142 |

---

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**No Expiration Date** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Short Term** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$10237071 | &nbsp;&nbsp;&nbsp;&nbsp;$2588761 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105469 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339942439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158042737 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22952115 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6709913 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10415204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12690269 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17473522 |

---

As of December 31, 2022, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on December 31, 2022, including short-term investments, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$616566816 | &nbsp;&nbsp;&nbsp;&nbsp;$2185000 | &nbsp;&nbsp;&nbsp;&nbsp;$(69591414) | &nbsp;&nbsp;&nbsp;&nbsp;$(67406414) |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893827557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81496889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78996417) |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201108302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36527941) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35283716) |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288849219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33393176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31668494) |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;2333150510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207171252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30152782) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28013076) |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;6804993545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8412379 | &nbsp;&nbsp;&nbsp;&nbsp;(720350754) | &nbsp;&nbsp;&nbsp;&nbsp;(711938375) |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174725619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14069669) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14028178) |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418783458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49090389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47686435) |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947021844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94198788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92419902) |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280830270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7716784) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7654915) |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends from net investment income, if any, at least annually with the exception of Money Market Trust, which declares dividends daily and pays monthly from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.**

The tax character of distributions for the year ended December 31, 2022 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$20091989 | &nbsp;&nbsp;&nbsp;&nbsp;$3606506 | &nbsp;&nbsp;&nbsp;&nbsp;$23698495 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18587633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18587633 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10528385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10528385 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7004751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4385342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11390093 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29855983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29855983 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6422310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6422310 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;193229274 | &nbsp;&nbsp;&nbsp;&nbsp;51249068 | &nbsp;&nbsp;&nbsp;&nbsp;244478342 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557336 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13659136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13659136 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20004156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20004156 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678113 |

---

The tax character of distributions for the year ended December 31, 2021 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$33406373 | &nbsp;&nbsp;&nbsp;&nbsp;$1313378 | &nbsp;&nbsp;&nbsp;&nbsp;$34719751 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60005545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61554135 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10254420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10254420 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11348852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11348852 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76031 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13911772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13911772 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;260018516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;260018516 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201948 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15116374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15116374 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17139950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17139950 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4431412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4431412 |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

**Significant accounting policies, continued Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of December 31, 2022, the components of distributable earnings on a tax basis were as follows:**

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Ordinary Income** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$5811655 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7245379 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4482004 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3098690 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4582138 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;56838988 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864889 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;12901219 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6855470 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792170 |

---

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, foreign currency transactions, derivative transactions, amortization and accretion on debt securities, wash sale loss deferrals, and deemed distribution on convertible bonds.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers' customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is detailed in the Statements of assets and liabilities as Receivable/Payable for centrally-cleared swaps. Securities pledged by the portfolios for centrally-cleared transactions, if any, are identified in the Portfolio of investments.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolio is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

**Derivative instruments, continued established level over the life of the contract. Cash that has been pledged by a portfolio, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by a portfolio periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolio. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a portfolio records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.**

The following table details how the portfolios used futures contracts during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $8.7 million to $9.8 million |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $64.3 million to $99.2 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $60.7 miilion to $89.4 million |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $45.3 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $0.7 million to $56.3 million |

---

**Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the portfolios thereby reducing the portfolios' total return, and the potential for losses in excess of the amounts recognized on the Statements of assets and liabilities.** 

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the portfolio as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

The following table details how the portfolios used forward foreign currency contracts during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $0.5 million to $1.9 million |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $5.7 million to $9.7 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;From $140.9 miilion to $185,1 million |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates and to enhance potential gain/income. | &nbsp;&nbsp;&nbsp;&nbsp;From $162.0 million to $448.7 million |

---

**Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.** 

Purchased options are included in the Portfolio of investments and are subsequently "marked-to-market" to reflect current market value. If a purchased option expires, a portfolio realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are "marked-to-market" to reflect the current market value. If the written option expires, a portfolio realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).

The following table details how the portfolios used purchased options contracts during the year ended December 31, 2022. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates. At Decemebr 31, 2022, there were no open purchased options contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $23,000 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates. | &nbsp;&nbsp;&nbsp;&nbsp;From $1,000 to $61,000 |

---

The following table details how the portfolios used written options contracts during the year ended December 31, 2022. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates. At December 31, 2022, there were no open written option contracts. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $87,000 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Derivative instruments, continued

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Market value range** |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in foreign currency exchange rates. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $72,000 |

---

An interest rate swaption is an option to enter into an interest rate swap. A credit default swaption is an option to enter into a credit default swap. Inflation floors (OTC) are instruments where in return for a premium, one party agrees to make payments to the other to the extent that the interest rate exceeds a specified rate (based on the Consumer Price Index or other designated measure), or "floor." Inflation caps (OTC) are instruments where in return for a premium, one party agrees to make payments to the other to the extent that the interest rate exceeds a specified rate (based on the Consumer Price Index or other designated measure), or "cap." An interest rate floor is an over-the-counter investment instrument designed to protect lenders of adjustable or floating-rate securities from losses due to falling interest rates. An interest rate floor seller pays a buyer when the indexed interest rate falls below the floors' strike rate, thus hedging against losses on falling rates. Fundamentally, interest rate floors are put options placed on a floating-rate index.

**Swaps. Swap agreements are agreements between the portfolio and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.** 

Upfront payments made/received by the portfolios, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the portfolios is recorded as realized gain or loss, as well as the net periodic payments received or paid by the portfolios.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The portfolios may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.

**Interest rate swaps. Interest rate swaps represent an agreement between the portfolio and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The portfolios settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.** 

The following table details how the portfolios used interest rate swaps contracts during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $3.5 million to $7.8 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against changes in interest rates and to manage duration of the portfolio. | &nbsp;&nbsp;&nbsp;&nbsp;From $32.7 miilion to $56.0 million |

---

**Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a "guarantor" (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The portfolios may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the portfolios may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.**

#### Credit default swaps — Buyer
The following table details how the portfolios used credit default swap contracts as the buyer during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $3.0 million |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. | &nbsp;&nbsp;&nbsp;&nbsp;From $1.3 million to $3.8 million |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage against potential credit events. | &nbsp;&nbsp;&nbsp;&nbsp;From $20.4 miilion to $91.0 million |

---

#### Credit default swaps — Seller
Implied credit spreads are utilized in determining the market value of CDS agreements in which the portfolio is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity's creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.

For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity's creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the portfolio as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

The following table details how the portfolios used credit default swap contracts as the seller during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. | &nbsp;&nbsp;&nbsp;&nbsp;From $1.1 million to $1.6 million |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Derivative instruments, continued

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. At December 31, 2022, there were no open credit default swap contracts as the seller. | &nbsp;&nbsp;&nbsp;&nbsp;Up to $2.7 miilion |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain credit exposure to an issuer or index. | &nbsp;&nbsp;&nbsp;&nbsp;From $110,000 to $15.0 million |

---

**Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.** 

The following table details how the portfolios used inflation swaps during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To manage exposure to inflation risk. | &nbsp;&nbsp;&nbsp;&nbsp;From $3.8 miilion to $18.9 million |

---

**Total Return Swaps. The portfolios may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A portfolio may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.**

The following table details how the portfolios used total return swaps during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;To gain exposure to a security or market without investing directly in such security or market and to exchange the risk/return of one market with another. | &nbsp;&nbsp;&nbsp;&nbsp;From $7.4 miilion to $23.2 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at December 31, 2022 by risk category:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(9039) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70362) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$90844** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(79416)** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$596659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(117884) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91984) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1696305** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(209868)** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1583515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(524711) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(877012) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185570) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Total return swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85766) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2197468) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;Swap contracts, at value | &nbsp;&nbsp;&nbsp;&nbsp;Inflation swaps | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18622) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$3812037** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3889149)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Derivative instruments, continued

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Statements of<br> assets and<br> liabilities location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$43256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unrealized appreciation (depreciation) on forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5862887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(9211039) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investments, at value<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;Written options, at value | &nbsp;&nbsp;&nbsp;&nbsp;Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17846) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$5966969** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9228885)** |

---

<sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

<sup>2</sup> Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statements of assets and liabilities.

<sup>3</sup> Purchased options are included in the Portfolios of investments.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty. The tables below reflect the portfolios' exposure to OTC derivative transactions and exposure to counterparties subject to an ISDA:

---

| | | |
|:---|:---|:---|
| **OTC Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liability** |
| **Opportunistic Fixed Income Trust** |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$461386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(877012) |
| Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270836) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1668302** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1147848)** |
| **Strategic Income Opportunities Trust** |  |  |
| Forward foreign currency contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5862887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9211039) |
| Purchased options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Written options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17846) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$5923713** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9228885)** |

---

**Opportunistic Fixed Income Trust** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$362622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$357082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17082 |
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83169) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83169) |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(303940) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221872) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221872) |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83349) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53617 |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(464003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236301) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$236301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133273 |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$1668302** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1147848)** | &nbsp;&nbsp;&nbsp;&nbsp;**$520454** | &nbsp;&nbsp;&nbsp;&nbsp;**$857824** | &nbsp;&nbsp;&nbsp;&nbsp;**$236301** | &nbsp;&nbsp;&nbsp;&nbsp;**$(101069)** |
| <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. |
| **Strategic Income Opportunities Trust** |  |  |  |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Australia and New Zealand Banking Group Limited | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$180541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(48015) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$132526 | &nbsp;&nbsp;&nbsp;&nbsp;$132526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Bank of America, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(270960) |
| Barclays Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47968 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(510028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410739) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(410739) |
| Citibank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(890149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62037) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62037) |
| Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(180684) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40866 |
| HSBC Bank USA, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419316 | &nbsp;&nbsp;&nbsp;&nbsp;(1443805) | &nbsp;&nbsp;&nbsp;&nbsp;(1024489) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24489) |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866912 | &nbsp;&nbsp;&nbsp;&nbsp;(1244285) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(377373) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117373) |
| Morgan Stanley Capital Services LLC | &nbsp;&nbsp;&nbsp;&nbsp;1477018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(865673) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171345 |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Market<br> Value of<br> OTC Derivatives** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral<br> Posted by<br> Counterparty<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Collateral Posted<br> by Portfolio<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net<br> Exposure** |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$217245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(755637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(538392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168392) |
| Standard Chartered Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(474219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241363) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| State Street Bank and Trust Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(574894) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24208) |
| UBS AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1754185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1468316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78316) |
| **Totals** | &nbsp;&nbsp;&nbsp;&nbsp;**$5923713** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9228885)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3305172)** | &nbsp;&nbsp;&nbsp;&nbsp;**$852526** | &nbsp;&nbsp;&nbsp;&nbsp;**$3261363** | &nbsp;&nbsp;&nbsp;&nbsp;**$(896335)** |
| <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. | <sup>1</sup> Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. |

---

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> foreign currency<br> transactions<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1012857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(967801) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(47710) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47710) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(1012857)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(47710)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$45056** | &nbsp;&nbsp;&nbsp;**$(1015511)** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$(280095) | &nbsp;&nbsp;&nbsp;&nbsp;$9401357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(148879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$423693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9396076 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$329150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329150 |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(146851) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(280095)** | &nbsp;&nbsp;&nbsp;&nbsp;**$9401357** | &nbsp;&nbsp;&nbsp;&nbsp;**$329150** | &nbsp;&nbsp;&nbsp;**$(148879)** | &nbsp;&nbsp;&nbsp;&nbsp;**$276842** | &nbsp;&nbsp;&nbsp;&nbsp;**$9578375** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$4640725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1410647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6051372 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$1298484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298484 |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105500) |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197500 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$4640725** | &nbsp;&nbsp;&nbsp;**$1298484** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$1502647** | &nbsp;&nbsp;&nbsp;&nbsp;**$7441856** |
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(3229855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(3229855) |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6410202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6410202 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$(189064) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$6903478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6714414 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(189064)** | &nbsp;&nbsp;&nbsp;&nbsp;**$6410202** | &nbsp;&nbsp;&nbsp;**$6903478** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$13124616** |

---

<br> <sup>1</sup> Realized gain/loss associated with purchased options is included in this caption on the Statements of operations.

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> translation of assets<br> and liabilities in<br> foreign currencies<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(22451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(22451) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$32034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32034 |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(182649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182649) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(22451)** | &nbsp;&nbsp;&nbsp;&nbsp;**$32034** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(182649)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(173066)** |
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;$275112 | &nbsp;&nbsp;&nbsp;&nbsp;$740282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(91780) | &nbsp;&nbsp;&nbsp;&nbsp;$1060461 | &nbsp;&nbsp;&nbsp;&nbsp;$1984075 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(16822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16822) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254309 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$275112** | &nbsp;&nbsp;&nbsp;**$740282** | &nbsp;&nbsp;&nbsp;&nbsp;**$(16822)** | &nbsp;&nbsp;&nbsp;**$(91780)** | &nbsp;&nbsp;&nbsp;&nbsp;**$1314770** | &nbsp;&nbsp;&nbsp;&nbsp;**$2221562** |
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$512153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(1644986) | &nbsp;&nbsp;&nbsp;&nbsp;$(1132833) |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(170676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170676) |
|  | &nbsp;&nbsp;&nbsp;Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371536 |
|  | &nbsp;&nbsp;&nbsp;Inflation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(717330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(717330) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$512153** | &nbsp;&nbsp;&nbsp;**$(170676)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(1990780)** | &nbsp;&nbsp;&nbsp;**$(1649303)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Derivative instruments, continued

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |  |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Unaffiliated<br> investments and<br> translation of assets<br> and liabilities in<br> foreign currencies<sup>1</sup>** | &nbsp;&nbsp;&nbsp;**Futures contracts** | &nbsp;&nbsp;&nbsp;**Forward foreign<br> currency contracts** | &nbsp;&nbsp;&nbsp;**Written options** | &nbsp;&nbsp;&nbsp;**Swap contracts** | &nbsp;&nbsp;&nbsp;**Total** |
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$24502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24502 |
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;Interest rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$478657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$478657 |
|  | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$61048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(4185025) | &nbsp;&nbsp;&nbsp;&nbsp;$37493 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4086484) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$61048** | &nbsp;&nbsp;&nbsp;**$478657** | &nbsp;&nbsp;&nbsp;**$(4185025)** | &nbsp;&nbsp;&nbsp;**$37493** | &nbsp;&nbsp;&nbsp;**—** | &nbsp;&nbsp;&nbsp;**$(3607827)** |

---

<br> <sup>1</sup> Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statements of operations.

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are wholly owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. Under an investment management agreement, the portfolios pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:**

• Active Bond Trust — a) 0.60% of the first $2.5 billion of average net assets; b) 0.575% of average net assets between $2.5 billion and $5.0 billion; and c) 0.55% of the excess over $5.0 billion of average net assets.

• Core Bond Trust — a) 0.69% of the first $200 million of aggregate net assets; b) 0.64% of the next $200 million of aggregate net assets; c) 0.570% of the next $600 million of aggregate net assets; d) 0.56% of the next $1 billion of aggregate net assets; and e) 0.55% of the excess over $2 billion of aggregate net assets.

• High Yield Trust— a) 0.70% of the first $500 million of aggregate net assets and b) 0.65% of the excess over $500 million of aggregate net assets.

• Investment Quality Bond Trust— a) 0.60% of the first $500 million of average net assets and b) 0.55% of the excess over $500 million of average net assets.

• Money Market Trust — a) 0.50% of the first $500 million of aggregate net assets; b) 0.425% of the next $250 million aggregate net assets; c) 0.375% of the next $250 million aggregate net assets; d) 0.35% of the next $500 million aggregate net assets; e) 0.325% of the next $500 million aggregate net assets; f) 0.30% of the next $500 million aggregate net assets; and g) 0.275% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and Money Market Fund, a series of John Hancock Current Interest.

• Opportunistic Fixed Income Trust — a) 0.65% of the first $1 billion of aggregate net assets and b) 0.625% of the excess over $1 billion of aggregate net assets.

• Select Bond Trust — a) 0.65% of the first $500 million of average net assets; b) 0.60% of the next $1 billion of average net assets; c) 0.575% of the next $1 billion of average net assets; d) 0.55% of the next $7.5 billion of average net assets; and e) 0.525% of the excess over $10 billion of average net assets.

• Short Term Government Income Trust— a) 0.57% of the first $250 million of aggregate net assets and b) 0.55% of the excess over $250 million of aggregate net assets.

• Strategic Income Opportunities Trust— a) 0.70% of the first $500 million of aggregate net assets; b) 0.65% of the next $3 billion of aggregate net assets; c) 0.60% of the next $4 billion of aggregate net assets; d) 0.59% of the next $4.5 billion of aggregate net assets; and e) 0.575% of the excess over $12 billion of aggregate net assets. Aggregate net assets include the net assets of the portfolio, Strategic Income Opportunities Fund, a series of JHF II, and Strategic Income Opportunities Fund, a subfund of Manulife Investment Management I PLC.

• Total Bond Market Trust — a) 0.47% of the first $1.5 billion of average net assets and b) 0.46% of the excess over $1.5 billion of average net assets.

• Ultra Short Term Bond Trust— a) 0.55% of the first $250 million of average net assets and b) 0.53% of the excess over $250 million of average net assets.

The organizations described below act as the subadvisors to the Trust and certain of its portfolios pursuant to Subadvisory Agreements with the Advisor. Portfolio management is allocated among the following subadvisors.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Fees and transactions with affiliates, continued

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subadvisor(s)** |
| &nbsp;&nbsp;&nbsp;Active Bond Trust<br> Money Market Trust<br> Select Bond Trust<br> Short Term Government Income Trust<br> Strategic Income Opportunities Trust<br> Total Bond Market Trust<br> Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Manulife Investment Management (US) LLC <sup>1</sup> |
| &nbsp;&nbsp;&nbsp;Investment Quality Bond Trust<br> Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Wellington Management Company LLP |
| &nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Allspring Global Investments, LLC |
| &nbsp;&nbsp;&nbsp;High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;Western Asset Management Company LLC, (Sub-Subadvisor is Western Asset Management Company Limited) |

---

<sup>1</sup> An affiliate of the Advisor.

The portfolios are not responsible for payment of the subadvisory fees.

**Expense reimbursements. The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the portfolios (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the year ended December 31, 2022, this waiver amounted to 0.01% of the portfolios' average net assets. This agreement expires on July 31, 2024, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.**

The Advisor has contractually agreed to waive its management fee on Money Market Trust and Total Bond Market Trust or, if necessary, make payment to the portfolios in an amount so that the annual operating expenses do not exceed 0.28% and 0.25%, respectively, of the portfolios' average net assets. This waiver includes all expenses except taxes, brokerage commissions, interest expense, short dividends, acquired fund fees, class-specific expenses, borrowing costs, prime brokerage fees, litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of the portfolio's business. This agreement expires on April 30, 2023, unless renewed by mutual agreement of the Advisor and the portfolio based upon a determination that this is appropriate under the circumstances at that time.

The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the portfolios exceed 0.15% of average net assets for each of the portfolios with the exception of Total Bond Market Trust. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio's business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reduction will continue in effect until terminated by the Advisor.

The Advisor has voluntarily agreed to waive its management fees by 0.02% of the average daily net assets of Opportunistic Fixed Income Trust and Select Bond Trust. These voluntary advisory fee waivers may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fees by 0.06% of the average daily net assets of Ultra Short Term Bond Trust. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive and/or reimburse all class-specific expenses for Series I and Series II shares of the Select Bond Trust to the extent they exceed 0.04% and 0.24%, respectively, of average net assets on an annualized basis attributable to the class (the class expense waiver). This voluntary class specific waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the year ended December 31, 2022, the expense reductions described above amounted to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$49252 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66792 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14164 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17913 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;1834001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511876 | &nbsp;&nbsp;&nbsp;&nbsp;2424700 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125689 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57214 | &nbsp;&nbsp;&nbsp;&nbsp;162387 | &nbsp;&nbsp;&nbsp;&nbsp;1726836 | &nbsp;&nbsp;&nbsp;&nbsp;1946437 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13796 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33045 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778080 | &nbsp;&nbsp;&nbsp;&nbsp;142876 | &nbsp;&nbsp;&nbsp;&nbsp;1176501 | &nbsp;&nbsp;&nbsp;&nbsp;2097457 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7279 | &nbsp;&nbsp;&nbsp;&nbsp;149328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181123 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended December 31, 2022, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.57% |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.69% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.59% |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.24% |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.58% |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.54% |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.56% |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.64% |

---

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.20% |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;0.48% |

---

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended December 31, 2022, amounted to an annual rate of 0.02% of the portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently, only 0.05% for Series I shares and 0.25% for Series ll shares are charged for Rule 12b-1 fees.

Distribution and service fees for the year ended December 31, 2022 were:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;$14375 | &nbsp;&nbsp;&nbsp;&nbsp;$295590 | &nbsp;&nbsp;&nbsp;&nbsp;$309965 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207781 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121825 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202660 |
| Money Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029595 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130008 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126724 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61758 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259277 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279020 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553301 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.**

**Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, open loans, if any, are presented under the caption Receivable/Payable for interfund lending in the Statements of assets and liabilities. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Borrower<br> or Lender** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Loan Balance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Weighted Average<br> Interest Rate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interest Income<br> (Expense)** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;$2900000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.945% | &nbsp;&nbsp;&nbsp;&nbsp;$76 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437500 | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;2.026% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;2.711% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143400000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.665% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100000 | &nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;0.540% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 |

---

6. Portfolio share transactions

Transactions in portfolios' shares for the years ended December 31, 2022 and 2021 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Active Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1152374 | &nbsp;&nbsp;&nbsp;&nbsp;240242 | &nbsp;&nbsp;&nbsp;&nbsp;$2442222 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138268 | &nbsp;&nbsp;&nbsp;&nbsp;166932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630925 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(564245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4897955) | &nbsp;&nbsp;&nbsp;&nbsp;(407129) | &nbsp;&nbsp;&nbsp;&nbsp;(4139088) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(284084)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2607313)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(65941)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Portfolio share transactions, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Active Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4676629 | &nbsp;&nbsp;&nbsp;&nbsp;1467918 | &nbsp;&nbsp;&nbsp;&nbsp;$14818207 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4195709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6657686 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3037262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26661575) | &nbsp;&nbsp;&nbsp;&nbsp;(2443263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24833201) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1963575)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(17789237)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(295989)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3357308)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2514591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21750050 | &nbsp;&nbsp;&nbsp;&nbsp;1622314 | &nbsp;&nbsp;&nbsp;&nbsp;$16501493 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18364518 | &nbsp;&nbsp;&nbsp;&nbsp;2702571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26431140 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(8874471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80724925) | &nbsp;&nbsp;&nbsp;&nbsp;(2388952) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24301538) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4002432)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(40610357)** | &nbsp;&nbsp;&nbsp;&nbsp;**1935933** | &nbsp;&nbsp;&nbsp;&nbsp;**$18631095** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(6250091)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(61006907)** | &nbsp;&nbsp;&nbsp;&nbsp;**1639989** | &nbsp;&nbsp;&nbsp;&nbsp;**$15207846** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Core Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1574417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4961318 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234036 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(938879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11212946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(854306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11789724) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(663221)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(8153215)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(96585)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1594370)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3795567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7891689 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4712777 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(743566) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8789770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(847917) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11682313) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(295561)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3649301)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**87765** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$922153** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3398633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39736813 | &nbsp;&nbsp;&nbsp;&nbsp;3754439 | &nbsp;&nbsp;&nbsp;&nbsp;$51540022 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15757417 | &nbsp;&nbsp;&nbsp;&nbsp;3963696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51607322 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(9111283) | &nbsp;&nbsp;&nbsp;&nbsp;(107759471) | &nbsp;&nbsp;&nbsp;&nbsp;(4769329) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65836194) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4228901)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(52265241)** | &nbsp;&nbsp;&nbsp;&nbsp;**2948806** | &nbsp;&nbsp;&nbsp;&nbsp;**$37311150** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(5187683)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(64067757)** | &nbsp;&nbsp;&nbsp;&nbsp;**2939986** | &nbsp;&nbsp;&nbsp;&nbsp;**$36638933** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **High Yield Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3968042 | &nbsp;&nbsp;&nbsp;&nbsp;1027735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5564561 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205581 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2187396) | &nbsp;&nbsp;&nbsp;&nbsp;(10289275) | &nbsp;&nbsp;&nbsp;&nbsp;(1893678) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10194943) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(575419)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3234045)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(257673)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1424801)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2282643 | &nbsp;&nbsp;&nbsp;&nbsp;1493962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8320644 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281261 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2373088) | &nbsp;&nbsp;&nbsp;&nbsp;(11804345) | &nbsp;&nbsp;&nbsp;&nbsp;(1758428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9772452) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1451325)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7541501)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**157209** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$829453** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478228 | &nbsp;&nbsp;&nbsp;&nbsp;$21195571 | &nbsp;&nbsp;&nbsp;&nbsp;4789193 | &nbsp;&nbsp;&nbsp;&nbsp;$25313469 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5460996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4767578 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4171490) | &nbsp;&nbsp;&nbsp;&nbsp;(19560398) | &nbsp;&nbsp;&nbsp;&nbsp;(3514467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18560551) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**1635448** | &nbsp;&nbsp;&nbsp;&nbsp;**$7096169** | &nbsp;&nbsp;&nbsp;&nbsp;**2196888** | &nbsp;&nbsp;&nbsp;&nbsp;**$11520496** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(391296)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3679377)** | &nbsp;&nbsp;&nbsp;&nbsp;**2096424** | &nbsp;&nbsp;&nbsp;&nbsp;**$10925148** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Quality Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3258912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973696 | &nbsp;&nbsp;&nbsp;&nbsp;$11454173 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5505486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5724212 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1784779) | &nbsp;&nbsp;&nbsp;&nbsp;(18140587) | &nbsp;&nbsp;&nbsp;&nbsp;(1497180) | &nbsp;&nbsp;&nbsp;&nbsp;(17840882) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(817452)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(9376189)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24859)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(662497)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1391882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8680413 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2718019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948815 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1169763) | &nbsp;&nbsp;&nbsp;&nbsp;(11788011) | &nbsp;&nbsp;&nbsp;&nbsp;(1352137) | &nbsp;&nbsp;&nbsp;&nbsp;(16125260) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(722088)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7678110)** | &nbsp;&nbsp;&nbsp;&nbsp;**(363395)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(4496032)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Quality Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7500838 | &nbsp;&nbsp;&nbsp;&nbsp;2176981 | &nbsp;&nbsp;&nbsp;&nbsp;$25830748 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675825 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(709502) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7227378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3713034) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**381788** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3440048** | &nbsp;&nbsp;&nbsp;&nbsp;**2097635** | &nbsp;&nbsp;&nbsp;&nbsp;**$24793539** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1157752)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13614251)** | &nbsp;&nbsp;&nbsp;&nbsp;**1709381** | &nbsp;&nbsp;&nbsp;&nbsp;**$19635010** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Money Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;492393825 | &nbsp;&nbsp;&nbsp;&nbsp;$492393825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222102581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$222102581 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22663968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22663968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58160 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(258875602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(258875602) | &nbsp;&nbsp;&nbsp;&nbsp;(535223505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(535223505) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**256182191** | &nbsp;&nbsp;&nbsp;&nbsp;**$256182191** | &nbsp;&nbsp;&nbsp;&nbsp;**(313062764)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(313062764)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3030688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2153308 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16003064) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16003064) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22757292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22757292) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(12238048)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12238048)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(20600828)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(20600828)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;270663741 | &nbsp;&nbsp;&nbsp;&nbsp;$270663741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264429473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$264429473 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14715 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(185745533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(185745533) | &nbsp;&nbsp;&nbsp;&nbsp;(338944647) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(338944647) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**91375895** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$91375895** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(74500459)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(74500459)** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**335320038** | &nbsp;&nbsp;&nbsp;&nbsp;**$335320038** | &nbsp;&nbsp;&nbsp;&nbsp;**(408164051)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(408164051)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Opportunistic Fixed Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$298731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2481215 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001393 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(476657) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5424203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(348001) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4586175) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(364098)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4278226)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**181** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(103567)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1694132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6363817 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3666833 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(777535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8250389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(597607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7778954) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(446047)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(4884481)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**203397** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2251696** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7517163 | &nbsp;&nbsp;&nbsp;&nbsp;2193949 | &nbsp;&nbsp;&nbsp;&nbsp;$28812924 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3903288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8243546 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2203613) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24297301) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(472559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6283005) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1128022)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(12876850)** | &nbsp;&nbsp;&nbsp;&nbsp;**2389424** | &nbsp;&nbsp;&nbsp;&nbsp;**$30773465** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1938167)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(22039557)** | &nbsp;&nbsp;&nbsp;&nbsp;**2593002** | &nbsp;&nbsp;&nbsp;&nbsp;**$32921594** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Select Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7133784 | &nbsp;&nbsp;&nbsp;&nbsp;1340819 | &nbsp;&nbsp;&nbsp;&nbsp;$18969076 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5329746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5702710 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1950570) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24298056) | &nbsp;&nbsp;&nbsp;&nbsp;(1337736) | &nbsp;&nbsp;&nbsp;&nbsp;(19188657) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(866427)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11834526)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**412466** | &nbsp;&nbsp;&nbsp;&nbsp;**$5483129** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;16794552 | &nbsp;&nbsp;&nbsp;&nbsp;$213615751 | &nbsp;&nbsp;&nbsp;&nbsp;4414625 | &nbsp;&nbsp;&nbsp;&nbsp;$62957071 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15790182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12750132 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(11965859) | &nbsp;&nbsp;&nbsp;&nbsp;(150508347) | &nbsp;&nbsp;&nbsp;&nbsp;(5519393) | &nbsp;&nbsp;&nbsp;&nbsp;(79170688) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**6252515** | &nbsp;&nbsp;&nbsp;&nbsp;**$78897586** | &nbsp;&nbsp;&nbsp;&nbsp;**(191435)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3463485)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Select Bond Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10164185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$130226363 | &nbsp;&nbsp;&nbsp;&nbsp;37801333 | &nbsp;&nbsp;&nbsp;&nbsp;$541711928 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20213431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223358414 | &nbsp;&nbsp;&nbsp;&nbsp;17353856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241565674 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(74625087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(941445771) | &nbsp;&nbsp;&nbsp;&nbsp;(32962111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(472950905) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(44247471)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(587860994)** | &nbsp;&nbsp;&nbsp;&nbsp;**22193078** | &nbsp;&nbsp;&nbsp;&nbsp;**$310326697** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(38861383)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(520797934)** | &nbsp;&nbsp;&nbsp;&nbsp;**22414109** | &nbsp;&nbsp;&nbsp;&nbsp;**$312346341** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Term Government Income Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3481987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4646388 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535512 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(522568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5923263) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(642443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7838952) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(179227)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2048332)** | &nbsp;&nbsp;&nbsp;&nbsp;**(217286)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(2657052)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9727921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873090 | &nbsp;&nbsp;&nbsp;&nbsp;$10639505 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334629 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1125538) | &nbsp;&nbsp;&nbsp;&nbsp;(12968649) | &nbsp;&nbsp;&nbsp;&nbsp;(1424514) | &nbsp;&nbsp;&nbsp;&nbsp;(17402188) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(268890)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3008106)** | &nbsp;&nbsp;&nbsp;&nbsp;**(523398)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6428054)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;1525890 | &nbsp;&nbsp;&nbsp;&nbsp;$17408604 | &nbsp;&nbsp;&nbsp;&nbsp;2509574 | &nbsp;&nbsp;&nbsp;&nbsp;$30593321 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331807 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1719351) | &nbsp;&nbsp;&nbsp;&nbsp;(19366981) | &nbsp;&nbsp;&nbsp;&nbsp;(2495719) | &nbsp;&nbsp;&nbsp;&nbsp;(30504609) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(15089)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(26607)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**209312** | &nbsp;&nbsp;&nbsp;&nbsp;**$2420519** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(463206)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(5083045)** | &nbsp;&nbsp;&nbsp;&nbsp;**(531372)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(6664587)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Strategic Income Opportunities Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8837432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19891961 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8811956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10390453 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(3281040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42288808) | &nbsp;&nbsp;&nbsp;&nbsp;(3760367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54420038) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1851501)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24639420)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1649251)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(24137624)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12112586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15186577 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1763045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515124 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(382087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4929072) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2214801) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**685381** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$8946559** | &nbsp;&nbsp;&nbsp;&nbsp;**1002441** | &nbsp;&nbsp;&nbsp;&nbsp;**$14486900** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4765406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10756279 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210797 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(564258) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7234186) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2462138) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**67404** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$615355** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**805845** | &nbsp;&nbsp;&nbsp;&nbsp;**$11504938** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1098716)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15077506)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**159035** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1854214** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Bond Market Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3601177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33411543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25920807 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7572612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7764202 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5828168) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54944790) | &nbsp;&nbsp;&nbsp;&nbsp;(6732124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71631779) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1336095)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(13960635)** | &nbsp;&nbsp;&nbsp;&nbsp;**(3562484)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(37946770)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8328388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12796561 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327106 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1348265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12701843) | &nbsp;&nbsp;&nbsp;&nbsp;(2805027) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29864689) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(322223)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3112881)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1480266)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(15741022)** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total Bond Market Trust, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;39125194 | &nbsp;&nbsp;&nbsp;&nbsp;$372377196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5460089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$58188101 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11170970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8048642 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(12257355) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(119265861) | &nbsp;&nbsp;&nbsp;&nbsp;(2893132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30778295) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;**28182071** | &nbsp;&nbsp;&nbsp;&nbsp;**$264282305** | &nbsp;&nbsp;&nbsp;&nbsp;**3339379** | &nbsp;&nbsp;&nbsp;&nbsp;**$35458448** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**26523753** | &nbsp;&nbsp;&nbsp;&nbsp;**$247208789** | &nbsp;&nbsp;&nbsp;&nbsp;**(1703371)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(18229344)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ultra Short Term Bond Trust** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5303734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5400966 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205924 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(499646) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5527670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(800359) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9159125) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(6059)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(67639)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(309742)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3552235)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;8498389 | &nbsp;&nbsp;&nbsp;&nbsp;$93910676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9017581 | &nbsp;&nbsp;&nbsp;&nbsp;$103112362 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2997662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502373 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(5492108) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60594580) | &nbsp;&nbsp;&nbsp;&nbsp;(14011294) | &nbsp;&nbsp;&nbsp;&nbsp;(160084832) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**3283073** | &nbsp;&nbsp;&nbsp;&nbsp;**$36313758** | &nbsp;&nbsp;&nbsp;&nbsp;**(4681559)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(53470097)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9506532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7625706 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723115 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(1049751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11608658) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(368985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4207370) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(141042)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(1577972)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**363987** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4141451** |
| **Total net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**3135972** | &nbsp;&nbsp;&nbsp;&nbsp;**$34668147** | &nbsp;&nbsp;&nbsp;&nbsp;**(4627314)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(52880881)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. For Core Bond Trust, affiliates owned 75.56% and 99.88% of Series II and Series NAV shares, respectively. For Select Bond Trust, affiliates owned 99.93% of Series II shares. For Strategic Income Opportunities Trust, affiliates owned 53.86% and 99.28% of Series II and Series NAV shares, respectively, on December 31, 2022. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Government** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other issuers** |
| Active Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$224357980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$348123418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$214182811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$320112800 |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;1654287469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816677232 | &nbsp;&nbsp;&nbsp;&nbsp;1711431022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770150503 |
| High Yield Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56592414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59123648 |
| Investment Quality Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46651020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69585896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54733422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82715442 |
| Opportunistic Fixed Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9571184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199921019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1588057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232043204 |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;4577478034 | &nbsp;&nbsp;&nbsp;&nbsp;3308699456 | &nbsp;&nbsp;&nbsp;&nbsp;4410338653 | &nbsp;&nbsp;&nbsp;&nbsp;3663820276 |
| Short Term Government Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53460605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34483875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56058809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35634921 |
| Strategic Income Opportunities Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37759002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145984622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17298522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166898650 |
| Total Bond Market Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295111172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366960650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150610770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144356289 |
| Ultra Short Term Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136140206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106753512 |

---

8. Investment in affiliated underlying funds

Certain portfolios may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** | **Active Bond Trust** |
| John Hancock Collateral Trust\* | 1201218 | $3651934 | $111232410 | $(102876166) | $(2368) | $1323 | $251527 |  | $12007133 |
| **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** | **Core Bond Trust** |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### Investment in affiliated underlying funds, continued

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $2532319 | &nbsp;&nbsp;&nbsp;&nbsp;$32373956 | &nbsp;&nbsp;&nbsp;&nbsp;$(34904115) | $(2526) | &nbsp;&nbsp;&nbsp;&nbsp;$366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6979 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** | **High Yield Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;334853 | $5725696 | &nbsp;&nbsp;&nbsp;&nbsp;$53960284 | &nbsp;&nbsp;&nbsp;&nbsp;$(56331051) | $(8445) | &nbsp;&nbsp;&nbsp;&nbsp;$640 | &nbsp;&nbsp;&nbsp;&nbsp;$80956 |  | &nbsp;&nbsp;&nbsp;&nbsp;$3347124 |
| **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** | **Investment Quality Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$64565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5928224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(5992304) | &nbsp;&nbsp;&nbsp;&nbsp;$(496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1788 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** | **Opportunistic Fixed Income Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$13817173 | &nbsp;&nbsp;&nbsp;&nbsp;$(13523297) | $(2509) | &nbsp;&nbsp;&nbsp;&nbsp;$131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3475 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$291498 |
| **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** | **Select Bond Trust** |
| John Hancock Collateral Trust\* | 19524239 | $5365362 | $1697299551 | $(1507545147) | $12854 | $27769 | $3534585 |  | $195160389 |
| **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** | **Short Term Government Income Trust** |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$29810115 | &nbsp;&nbsp;&nbsp;&nbsp;$(29325715) | &nbsp;&nbsp;&nbsp;&nbsp;$480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48 | &nbsp;&nbsp;&nbsp;&nbsp;$29986 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$484928 |
| **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** | **Strategic Income Opportunities Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;831024 | $6903711 | &nbsp;&nbsp;&nbsp;&nbsp;$84876388 | &nbsp;&nbsp;&nbsp;&nbsp;$(83471977) | $(2752) | &nbsp;&nbsp;$1375 | &nbsp;&nbsp;&nbsp;$171764 |  | &nbsp;&nbsp;&nbsp;&nbsp;$8306745 |
| **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** | **Total Bond Market Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;463576 | $3599385 | &nbsp;&nbsp;&nbsp;$223956563 | &nbsp;&nbsp;&nbsp;$(222931416) | &nbsp;&nbsp;$8638 | &nbsp;&nbsp;&nbsp;&nbsp;$646 | &nbsp;&nbsp;&nbsp;$237450 |  | &nbsp;&nbsp;&nbsp;&nbsp;$4633816 |
| **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** | **Ultra Short Term Bond Trust** |
| John Hancock Collateral Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;104712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$170045390 | &nbsp;&nbsp;&nbsp;$(169000669) | &nbsp;&nbsp;$1985 | &nbsp;&nbsp;&nbsp;&nbsp;$(22) | &nbsp;&nbsp;&nbsp;&nbsp;$60239 |  | &nbsp;&nbsp;&nbsp;&nbsp;$1046684 |

---

\* Refer to the Securities lending note within Note 2 for details regarding this investment.

9. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At December 31, 2022, the following fund(s) had an affiliate ownership of 5% or more of the portfolios' net assets:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Concentration** |
| Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;55.2% |
| Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;90.1% |

---

10. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at December 31, 2022:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer,<br> Description** | &nbsp;&nbsp;&nbsp;**Original<br> acquisition date** | &nbsp;&nbsp;&nbsp;**Acquisition<br> cost** | &nbsp;&nbsp;&nbsp;**Beginning<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Shares<br> purchased** | &nbsp;&nbsp;&nbsp;**Shares<br> sold** | &nbsp;&nbsp;&nbsp;**Ending<br> share<br> amount** | &nbsp;&nbsp;&nbsp;**Value as a<br> percentage of<br> net assets** | &nbsp;&nbsp;&nbsp;**Ending<br> value** |
| **High Yield Trust** |  |  |  |  |  |  |  |  |
| KCAD Holdings I, Ltd. | &nbsp;&nbsp;&nbsp;3-21-11 | &nbsp;&nbsp;&nbsp;$1353651 | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;165553563 | &nbsp;&nbsp;&nbsp;0.0%<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$166 |
| MWO Holdings LLC | &nbsp;&nbsp;&nbsp;8-30-16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;0.0%<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2768 |
| New Cotai, Inc., Class B | &nbsp;&nbsp;&nbsp;4-12-13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;0.0% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$2934** |

---

<sup>1</sup> Less than 0.05%.

11. LIBOR discontinuation risk

LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR's usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR's deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

#### LIBOR discontinuation risk, continued
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.

The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.

12. New accounting pronouncement

In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2024. Management expects that the adoption of the guidance will not have a material impact to the financial statements.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

John Hancock Variable Insurance Trust

------

#### Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust**

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust (eleven of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinions
These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 21, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Special shareholder meeting

------

(Unaudited)

The portfolios held a Special Joint Meeting of Shareholders on Friday, September 9, 2022. The following proposals were considered by the shareholders:

#### Proposal 1: To elect eight Trustees as members of the Board of Trustees of the Trust.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes<br> for the nominee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes withheld<br> from the nominee** |
| **Independent Trustees** |  |  |
| James R. Boyle | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312220638.454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31482911.803 |
| Noni L. Ellison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6307344100.566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36359449.691 |
| Dean C. Garfield | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306606071.373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37097478.884 |
| Patricia Lizarraga | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311739137.777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31964412.480 |
| Frances G. Rathke | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311903223.239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31800327.018 |
| **Non-Independent Trustees** |  |  |
| Andrew G. Arnott | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312916296.440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30787253.817 |
| Marianne Harrison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6309699822.026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34003728.231 |
| Paul Lorentz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312826931.728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30876618.529 |

---

**Proposal 2: To approve an amendment to the Declaration of Trust increasing the amount of time permitted between a record date and a shareholder meeting.**

THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6243364216.560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.419% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.460% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42739643.197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.674% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.667% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57599690.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.907% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.899% |

---

#### Proposal 3 : To approve an amendment to the Declaration of Trust modifying certain amendment filing requirements.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6232979077.490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.255% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.298% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44982081.873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.709% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.702% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65742390.894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.036% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.026% |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

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This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

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| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Hassell H. McClellan, Born: 1945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2005** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee and Chairperson of the Board* |  |  |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| **James R. Boyle, Born: 1959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2015** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| **William H. Cunningham,<sup>2</sup> Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *Trustee* |  |  |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| **Noni L. Ellison,<sup>\*</sup> Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Grace K. Fey, Born: 1946** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee* |  |  |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Dean C. Garfield,<sup>\*</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Deborah C. Jackson, Born: 1952** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**185** |
| *Trustee* |  |  |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Patricia Lizarraga,<sup>2,\*</sup> Born: 1966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Steven R. Pruchansky, Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee and Vice Chairperson of the Board* |  |  |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

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| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES (continued)** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Frances G. Rathke,<sup>2</sup> Born: 1960** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
| **Gregory A. Russo, Born: 1949** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |

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| | | |
|:---|:---|:---|
| **NON-INDEPENDENT TRUSTEES<sup>3</sup>** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Andrew G. Arnott, Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2017** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *President and Non-Independent Trustee* |  |  |
| Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| **Marianne Harrison, Born: 1963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| **Paul Lorentz,<sup>†</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |

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| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Charles A. Rizzo, Born: 1957** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2007** |
| *Chief Financial Officer* |  |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). | Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| **Salvatore Schiavone, Born: 1965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** |
| *Treasurer* |  |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

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| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES (continued)** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Christopher (Kit) Sechler, Born: 1973** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** |
| *Secretary and Chief Legal Officer* |  |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| **Trevor Swanberg, Born: 1979** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** |
| *Chief Compliance Officer* |  |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). | Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |

---

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-344-1029.

---

| | |
|:---|:---|
| <sup>1</sup> | Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| <sup>2</sup> | Member of the Audit Committee. |
| <sup>3</sup> | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| <sup>\*</sup> | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| <sup>†</sup> | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |

---

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

## John Hancock Variable Insurance Trust

#### For more information

------

The Statement of Additional Information, a separate document with supplemental information not contained in the prospectus, includes additional information on the Board of Trustees and can be obtained without charge by calling 800-344-1029 or on the Securities and Exchange Commission (SEC) website at www.sec.gov.

**PROXY VOTING POLICY A description of the trust's proxy voting policies and procedures and information regarding how the trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available without charge, upon request, by calling 800-344-1029 or on the SEC website at www.sec.gov.**

**QUARTERLY PORTFOLIO DISCLOSURE With the exception of Money Market Trust, all of each fund's holdings as of the end of the third month of every ﬁscal quarter are ﬁled with the SEC on Form N-PORT within 60 days of the end of the ﬁscal quarter. For Money Market Trust, the portfolio reports certain information to the SEC monthly on Form N-MFP, including the fund's portfolio holdings and other pricing information, which are made public immediately upon the report's filing with the SEC. Each fund's Form N-PORT or Form N-MFP ﬁlings are available on the SEC's website, www.sec.gov.**

The report is certiﬁed under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to afﬁrm that, to the best of their knowledge, the information in their ﬁnancial reports is fairly and accurately stated in all material respects.

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

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[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

------

[**Table of Contents**](#JOB_JHVIT_6eeb554a-2b19-4f77-a51d-68f09556f8f2_TOC)

![](img6220bff11.gif)

Information Control Center

P.O. Box 772

Boston, MA 02117-0772

#### More information

#### Trustees
Hassell H. McClellan, *Chairperson* Steven R. Pruchansky, *Vice Chairperson* Andrew G. Arnott<sup>†</sup>

James R. Boyle

William H. Cunningham

<sup>\*</sup>Noni L. Ellison<sup>^</sup>

Grace K. Fey

Dean C. Garfield<sup>^</sup>

Marianne Harrison<sup>†</sup>

Deborah C. Jackson

Patricia Lizarraga

<sup>\*,^</sup>Paul Lorentz<sup>‡</sup>

Frances G. Rathke<sup>\*</sup>

Gregory A. Russo

#### Officers
Andrew G. Arnott, *President* Charles A. Rizzo, *Chief Financial Officer* Salvatore Schiavone, *Treasurer* Christopher (Kit) Sechler, *Secretary and Chief Legal Officer* Trevor Swanberg, *Chief Compliance Officer*

<sup>†</sup> Non-Independent Trustee <br> \* Member of the Audit Committee

<sup>^</sup> Elected to serve as Independent Trustee effective as of September 9, 2022.

<sup>‡</sup> Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

#### Investment advisor
John Hancock Variable Trust Advisers LLC

#### Principal distributor
John Hancock Distributors, LLC

JHTBA 12/31

2/23

1115017:1222

------

![](img75bda41b1.gif)

![](img8b0513ec2.gif)

## JOHN HANCOCK

## Variable Insurance Trust

#### Managed Volatility Growth Portfolio

#### Managed Volatility Balanced Portfolio

#### Managed Volatility Moderate Portfolio

#### Managed Volatility Conservative Portfolio
Annual report

December 31, 2022

------

## John Hancock Variable Insurance Trust

#### Annual report — Table of contents

------

---

| | |
|:---|:---|
| **[Manager's commentary and portfolio performance](#xx_eb32761c-5e75-4d83-a140-ad619733ef56_1)[(See below for each portfolio's page #)](#xx_eb32761c-5e75-4d83-a140-ad619733ef56_1)<br>**  | **3** |
| **[Shareholder expense example](#xx_dac7106d-031b-4653-9e43-4a26e28b947b_1)<br>**  | **9** |
| **[Portfolio of investments](#xx_ac47f50c-4e17-4be3-b6ec-a9fdd2cdd0cc_1)[(See below for each portfolio's page #)](#xx_ac47f50c-4e17-4be3-b6ec-a9fdd2cdd0cc_1)<br>**  | **11** |
| **[Statements of assets and liabilities](#xx_06f76019-fe3e-4d4f-8841-be3f1667c09f_1)<br>**  | **15** |
| **[Statements of operations](#xx_d9de8bd6-83a2-48fc-b094-b79b47b8cc6b_1)<br>**  | **16** |
| **[Statements of changes in net assets](#xx_03182412-cd40-4821-995c-aad48adcaab5_1)<br>**  | **17** |
| **[Financial highlights](#xx_94f31d8e-f0a7-47d0-9085-430369c8c7a5_1)<br>**  | **18** |
| **[Notes to financial statements](#xx_c494e767-2fef-4a30-99fe-e670b3f1eaa1_1)<br>**  | **20** |
| **[Report of independent registered public accounting firm](#xx_e4cad0e3-2196-4864-afba-4e90258208a6_1)<br>**  | **32** |
| **[Special shareholder meeting](#xx_8cad43f3-be91-4dbd-a2fa-35ec678b6be2_1)<br>**  | **33** |
| **[Trustees and officers information](#xx_ab59dc43-185f-4a3b-8c50-98db31088bd0_1)<br>**  | **34** |
| **[For more information](#xx_51a6dc97-102a-442d-8d16-ce1ebd1e86a7_1)<br>**  | **37** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Growth Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_1) | [Managed Volatility Growth Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_1) | 5 |  | 11 |
| [Managed Volatility Balanced Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_2) | [Managed Volatility Balanced Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_2) | 6 |  | 12 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Manager's commentary and fund performance** | **Manager's commentary and fund performance** | **Portfolio of investments** | **Portfolio of investments** |
| [Managed Volatility Moderate Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_3) | [Managed Volatility Moderate Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_3) | 7 |  | 13 |
| [Managed Volatility Conservative Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_4) | [Managed Volatility Conservative Portfolio](#xx_00a74465-67cc-4336-a848-1c661cfa896d_4) | 8 |  | 14 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Manager's commentary and portfolio performance

------

#### Trust performance
In the following pages, we have set forth information regarding the performance of each Managed Volatility Portfolio of John Hancock Variable Insurance Trust (the trust or JHVIT). There are several ways to evaluate a portfolio's historical performance. One can look at the total percentage change in value, the average annual percentage change, or the growth of a hypothetical $10,000 investment. With respect to all performance information presented, it is important to understand that past performance does not guarantee future results. Return and principal fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

#### Performance tables
The performance tables show two types of total return information: cumulative and average annual total returns. A cumulative total return includes dividend reinvestments and is an expression of a portfolio's total change in share value in percentage terms over a set period of time—one, five, and ten years (or since the portfolio's inception if less than the applicable period). An average annual total return takes the portfolio's cumulative total return for a time period greater than one year and shows what would have happened if the portfolio had performed at a constant rate each year. The tables show all cumulative and average annual total returns, net of fees and expenses of the trust, but do not reflect the insurance (separate account) expenses (including a possible contingent deferred sales charge) of the variable annuity and variable life products that invest in the trust. If these were included, performance would be lower.

#### Graph—change in value of $10,000 investment and comparative indexes
The performance graph for each portfolio shows the change in value of a $10,000 investment over the life or 10-year period of each portfolio, whichever is shorter. Each portfolio's performance is compared with the performance of one or more broad-based security indexes as a benchmark. All performance information includes the reinvestment of dividends and capital gain distributions, as well as the deduction of ongoing management fees and portfolio operating expenses. The benchmarks used for comparison are unmanaged and include reinvestment of dividends and capital gain distributions, if any, but do not reflect any fees or expenses. Portfolios that invest in multiple asset classes are compared with a customized benchmark. This benchmark comprises a set percentage allocation from each of the asset classes in which the portfolio invests.

#### Portfolio managers' commentary
Finally, we have provided a commentary by the portfolio managers regarding each portfolio's performance during the year ended December 31, 2022. The views expressed are those of the portfolio managers as of December 31, 2022, and are subject to change based on market and other conditions. Information about a portfolio's holdings, asset allocation, or country diversification is historical and is no indication of future portfolio composition, which may vary. Information provided in this report should not be considered a recommendation to purchase or sell securities. The portfolios are not insured by the FDIC; are not deposits or other obligations of, or guaranteed by, banks; and are subject to investment risks, including loss of principal amount invested. For a more detailed discussion of the risks associated with the portfolios, see the trust prospectus.

#### Notes about risk
The portfolios may be subject to various risks as described in the portfolios' prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures,which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect portfolio performance. For more information, please refer to the "Principal risks" section of the prospectus.

Standard & Poor's, Standard & Poor's 500, and S&P 500 are trademarks of The McGraw-Hill Companies, Inc. Bloomberg is a registered trademark of Bloomberg LP. The Managed Volatility Portfolios are not sponsored, endorsed, managed, advised, sold, or promoted by any of these companies, and none of these companies makes any representation regarding the advisability of investing in any Managed Volatility Portfolio.

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio Managers' Commentary

------

**Performance ► For the year ended December 31, 2022, the Managed Volatility Growth Portfolio, Series I shares declined 14.86% and the Blended Index for the portfolio, as defined in the Performance Table below, declined 16.09%.**

For the year ended December 31, 2022, the **Managed Volatility Balanced Portfolio**, Series I shares declined 15.08% and the Blended Index for the portfolio, as defined in the Performance Table below, declined 15.11%.

For the year ended December 31, 2022, the **Managed Volatility Moderate Portfolio**, Series I shares declined 14.87% and the Blended Index for the portfolio, as defined in the Performance Table below, declined 14.64%.

For the year ended December 31, 2022, the **Managed Volatility Conservative Portfolio**, Series I shares declined 14.80% and the Blended Index for the portfolio, as defined in the Performance Table below, declined 13.78%.

**Environment ► The world equity markets experienced poor performance in 2022. Inflation, which had already been rising prior to Russia's invasion of Ukraine in February, took another leg higher in the months following the start of the conflict. The U.S. Federal Reserve and other central banks were forced to tighten monetary policy aggressively to contain price pressures, weighing on the outlook for economic growth and corporate earnings. These developments, together with slowing growth in China and mounting fears of a recession in Europe, weighed heavily on sentiment. Growth stocks, which tend to be adversely affected by rising rates, were particularly poor performers. Conversely, value stocks outperformed thanks to the gains in energy stocks.**

On a regional basis, the U.S. market, which was hurt by growth stocks' large representation in its major indexes, underperformed its developed-market peers. The emerging markets also suffered outsized losses, reflecting the collapse in Russia's market and the pronounced weakness in Chinese equities.

Each of the Managed Volatility Portfolios declined for the period. Managed Volatility Growth Portfolio and Managed Volatility Balanced Portfolio outperformed their blended benchmarks, while Managed Volatility Moderate Portfolio and Managed Volatility Conservative Portfolio underperformed.

Contributors for all of the portfolios included an overweight to small-cap equities, and an allocation to value equities. Holdings that contributed to performance included JHVIT Equity Income Trust, JHVIT Mid Value Trust, and JHVIT Small Cap Value Trust.

Detractors for the portfolios included an overweight to large-cap equities, allocation to poorer-performing growth equities, and exposure to emerging-market equities. Individual detractors included JHVIT Blue Chip Growth Trust, John Hancock Small Cap Growth Fund, and JHVIT Bond Trust.

For all portfolios, the futures contracts, which seek to manage the volatility of returns and limit the magnitude of losses for the portfolios, contributed positively.

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## Managed Volatility Growth Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA, Robert Sykes, CFA, Nathan Thooft, CFA, Jeffrey Wu

------

**INVESTMENT OBJECTIVE & POLICIES ► The portfolio's investment objective is to seek long-term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio operates as a fund of funds and invests in both equity funds and fixed-income funds. The portfolio also may use certain risk management techniques to seek to manage the volatility of returns (i.e., standard deviation) and limit the magnitude of portfolio losses. The portfolio's exposure to equity securities (either directly or through investment in underlying funds or derivatives) normally will not exceed 77% of net assets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img698464573.jpg)

---

| | |
|:---|:---|
| **ASSET ALLOCATION (% of net assets)** | **ASSET ALLOCATION (% of net assets)** |
| **Affiliated investment companies** | **92.6** |
| **Equity** | **65.0** |
| Large blend | &nbsp;&nbsp;30.0 |
| U.S. large cap | &nbsp;&nbsp;15.8 |
| Emerging-market equity | &nbsp;&nbsp;&nbsp;6.7 |
| U.S. mid cap | &nbsp;&nbsp;&nbsp;5.7 |
| U.S. small cap | &nbsp;&nbsp;&nbsp;3.8 |
| International equity | &nbsp;&nbsp;&nbsp;3.0 |
| **Fixed income** | **27.6** |
| Intermediate bond | &nbsp;&nbsp;27.6 |
| **Unaffiliated investment companies** | &nbsp;&nbsp;&nbsp;**2.5** |
| Equity | &nbsp;&nbsp;&nbsp;2.5 |
| **Short-term investments and other** | &nbsp;&nbsp;&nbsp;**4.9** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Managed Volatility Growth Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.86 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;4.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.93 |
| Managed Volatility Growth Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.03 | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;3.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47.95 |
| Managed Volatility Growth Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;4.26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.07 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51.72 |
| Morningstar U.S. Moderately Aggressive Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.31 | &nbsp;&nbsp;&nbsp;&nbsp;5.54 | &nbsp;&nbsp;&nbsp;&nbsp;8.14 | &nbsp;&nbsp;&nbsp;&nbsp;30.94 | &nbsp;&nbsp;&nbsp;&nbsp;118.66 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-16.09 | &nbsp;&nbsp;&nbsp;&nbsp;4.94 | &nbsp;&nbsp;&nbsp;&nbsp;7.41 | &nbsp;&nbsp;&nbsp;&nbsp;27.25 | &nbsp;&nbsp;&nbsp;&nbsp;104.34 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Moderately Aggressive Target Allocation Index seeks 77.5% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 49% Russell 3000 Index, 21% MSCI EAFE Index and 30% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;0.76 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;1.01 | &nbsp;&nbsp;&nbsp;0.76 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## Managed Volatility Balanced Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA, Robert Sykes, CFA, Nathan Thooft, CFA, Jeffrey Wu

------

**INVESTMENT OBJECTIVE & POLICIES ► The portfolio's investment objective is to seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio operates as a fund of funds and invests in both equity funds and fixed-income funds. The portfolio also may use certain risk management techniques to seek to manage the volatility of returns (i.e., standard deviation) and limit the magnitude of portfolio losses. The portfolio's exposure to equity securities (either directly or through investment in underlying funds or derivatives) normally will not exceed 55% of net assets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img0a6153174.jpg)

---

| | |
|:---|:---|
| **ASSET ALLOCATION (% of net assets)** | **ASSET ALLOCATION (% of net assets)** |
| **Affiliated investment companies** | **94.4** |
| **Equity** | **46.1** |
| Large blend | &nbsp;&nbsp;21.4 |
| U.S. large cap | &nbsp;&nbsp;12.6 |
| Emerging-market equity | &nbsp;&nbsp;&nbsp;4.1 |
| U.S. mid cap | &nbsp;&nbsp;&nbsp;3.6 |
| U.S. small cap | &nbsp;&nbsp;&nbsp;2.6 |
| International equity | &nbsp;&nbsp;&nbsp;1.8 |
| **Fixed income** | **48.3** |
| Intermediate bond | &nbsp;&nbsp;48.3 |
| **Unaffiliated investment companies** | &nbsp;&nbsp;&nbsp;**1.9** |
| Equity | &nbsp;&nbsp;&nbsp;1.9 |
| **Short-term investments and other** | &nbsp;&nbsp;&nbsp;**3.7** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Managed Volatility Balanced Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-15.08 | &nbsp;&nbsp;&nbsp;&nbsp;1.26 | &nbsp;&nbsp;&nbsp;&nbsp;3.88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp;&nbsp;46.37 |
| Managed Volatility Balanced Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.22 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44 | &nbsp;&nbsp;&nbsp;&nbsp;43.48 |
| Managed Volatility Balanced Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.98 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 | &nbsp;&nbsp;&nbsp;&nbsp;3.94 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.79 | &nbsp;&nbsp;&nbsp;&nbsp;47.22 |
| Morningstar U.S. Moderate Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.32 | &nbsp;&nbsp;&nbsp;&nbsp;4.74 | &nbsp;&nbsp;&nbsp;&nbsp;6.91 | &nbsp;&nbsp;&nbsp;&nbsp;26.04 | &nbsp;&nbsp;&nbsp;&nbsp;94.98 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-15.11 | &nbsp;&nbsp;&nbsp;&nbsp;3.66 | &nbsp;&nbsp;&nbsp;&nbsp;5.66 | &nbsp;&nbsp;&nbsp;&nbsp;19.70 | &nbsp;&nbsp;&nbsp;&nbsp;73.43 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Moderate Target Allocation Index seeks 60% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 35% Russell 3000 Index, 15% MSCI EAFE Index, and 50% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;0.73 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;0.73 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## Managed Volatility Moderate Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA, Robert Sykes, CFA, Nathan Thooft, CFA, Jeffrey Wu

------

**INVESTMENT OBJECTIVE & POLICIES ► The portfolio's investment objective is to seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio operates as a fund of funds and invests in both equity funds and fixed-income funds. The portfolio also may use certain risk management techniques to seek to manage the volatility of returns (i.e., standard deviation) and limit the magnitude of portfolio losses. The portfolio's exposure to equity securities (either directly or through investment in underlying funds or derivatives) normally will not exceed 44% of net assets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img24e3479f5.jpg)

---

| | |
|:---|:---|
| **ASSET ALLOCATION (% of net assets)** | **ASSET ALLOCATION (% of net assets)** |
| **Affiliated investment companies** | **94.9** |
| **Equity** | **36.5** |
| Large blend | &nbsp;&nbsp;17.5 |
| U.S. large cap | &nbsp;&nbsp;11.1 |
| Emerging-market equity | &nbsp;&nbsp;&nbsp;2.7 |
| U.S. mid cap | &nbsp;&nbsp;&nbsp;2.6 |
| U.S. small cap | &nbsp;&nbsp;&nbsp;1.7 |
| International equity | &nbsp;&nbsp;&nbsp;0.9 |
| **Fixed income** | **58.4** |
| Intermediate bond | &nbsp;&nbsp;58.4 |
| **Unaffiliated investment companies** | &nbsp;&nbsp;&nbsp;**1.9** |
| Equity | &nbsp;&nbsp;&nbsp;1.9 |
| **Short-term investments and other** | &nbsp;&nbsp;&nbsp;**3.2** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Managed Volatility Moderate Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.87 | &nbsp;&nbsp;&nbsp;&nbsp;1.24 | &nbsp;&nbsp;&nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34 | &nbsp;&nbsp;&nbsp;&nbsp;43.58 |
| Managed Volatility Moderate Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-15.10 | &nbsp;&nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;&nbsp;&nbsp;3.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24 | &nbsp;&nbsp;&nbsp;&nbsp;40.60 |
| Managed Volatility Moderate Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.89 | &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;3.73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.58 | &nbsp;&nbsp;&nbsp;&nbsp;44.22 |
| Morningstar U.S. Moderately Conservative Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.06 | &nbsp;&nbsp;&nbsp;&nbsp;3.05 | &nbsp;&nbsp;&nbsp;&nbsp;4.85 | &nbsp;&nbsp;&nbsp;&nbsp;16.19 | &nbsp;&nbsp;&nbsp;&nbsp;60.56 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-14.64 | &nbsp;&nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;&nbsp;&nbsp;4.77 | &nbsp;&nbsp;&nbsp;&nbsp;15.84 | &nbsp;&nbsp;&nbsp;&nbsp;59.29 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Moderately Conservative Target Allocation Index seeks 40% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 28% Russell 3000 Index, 12% MSCI EAFE Index, and 60% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;0.73 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;0.73 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## Managed Volatility Conservative Portfolio
Subadvisor: Manulife Investment Management (US) LLC

Portfolio Managers: Geoffrey Kelley, CFA, Robert Sykes, CFA, Nathan Thooft, CFA, Jeffrey Wu

------

**INVESTMENT OBJECTIVE & POLICIES ► The portfolio's investment objective is to seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses. The portfolio operates as a fund of funds and invests in both equity funds and fixed-income funds. The portfolio also may use certain risk management techniques to seek to manage the volatility of returns (i.e., standard deviation) and limit the magnitude of portfolio losses. The portfolio's exposure to equity securities (either directly or through investment in underlying funds or derivatives) normally will not exceed 22% of net assets.**

#### CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
![](img4210b5f86.jpg)

---

| | |
|:---|:---|
| **ASSET ALLOCATION (% of net assets)** | **ASSET ALLOCATION (% of net assets)** |
| **Affiliated investment companies** | **96.5** |
| **Equity** | **18.4** |
| Large blend | &nbsp;&nbsp;&nbsp;8.7 |
| U.S. large cap | &nbsp;&nbsp;&nbsp;6.0 |
| Emerging-market equity | &nbsp;&nbsp;&nbsp;1.3 |
| U.S. mid cap | &nbsp;&nbsp;&nbsp;1.3 |
| U.S. small cap | &nbsp;&nbsp;&nbsp;1.1 |
| **Fixed income** | **78.1** |
| Intermediate bond | &nbsp;&nbsp;78.1 |
| **Unaffiliated investment companies** | &nbsp;&nbsp;&nbsp;**0.8** |
| Equity | &nbsp;&nbsp;&nbsp;0.8 |
| **Short-term investments and other** | &nbsp;&nbsp;&nbsp;**2.7** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PERFORMANCE TABLE** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;**Cumulative Total Return** |
| **Total returns for the period ended 12-31-22 (%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5-year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10-year** |
| Managed Volatility Conservative Portfolio Series I | &nbsp;&nbsp;&nbsp;&nbsp;-14.80 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;2.21 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;24.42 |
| Managed Volatility Conservative Portfolio Series II | &nbsp;&nbsp;&nbsp;&nbsp;-14.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;2.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;&nbsp;22.05 |
| Managed Volatility Conservative Portfolio Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;-14.72 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;2.26 | &nbsp;&nbsp;&nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;25.08 |
| Morningstar U.S. Conservative Target Allocation Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;3.25 | &nbsp;&nbsp;&nbsp;&nbsp;9.80 | &nbsp;&nbsp;&nbsp;&nbsp;37.68 |
| Blended Index | &nbsp;&nbsp;&nbsp;&nbsp;-13.78 | &nbsp;&nbsp;&nbsp;&nbsp;1.55 | &nbsp;&nbsp;&nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;8.01 | &nbsp;&nbsp;&nbsp;&nbsp;33.56 |

---

Performance does not reflect any insurance-related charges. If these charges were reflected, performance would be lower. Past performance does not predict future results.

Morningstar U.S. Conservative Target Allocation Index seeks 22.5% exposure to global equity markets from a diversified mix of stocks and bonds.

The Blended Index is 14% Russell 3000 Index, 6% MSCI EAFE Index, and 80% Bloomberg U.S. Aggregate Bond Index.

It is not possible to invest directly in an index. Index figures do not reflect expenses, which would result in lower returns.

The expense ratios of the portfolio, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the portfolio and may differ from the expense ratios disclosed in the financial highlights tables in this report. The expense ratios are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;Series NAV |
| Gross (%) | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;0.72 |
| Net (%) | &nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;0.72 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

As a shareholder of a John Hancock Variable Insurance Trust Managed Volatility Portfolio, you incur ongoing costs, including management fees, distribution and service (Rule 12b-1) fees and other expenses. In addition to the operating expenses which the portfolio bears directly, the portfolio indirectly bears a pro rata share of the operating expenses of the underlying funds in which the portfolio invests. Because the underlying funds have varied operating expenses and transaction costs and the portfolio may own different proportions of the underlying funds at different times, the amount of expenses incurred indirectly by the portfolio will vary. Had these indirect expenses been reflected in the following analysis, total expenses would have been higher than the amounts shown.

These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (July 1, 2022 through December 31, 2022).

#### Actual expenses:
The first line of each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses paid during period ended" to estimate the expenses you paid on your account during this period.

#### Hypothetical example for comparison purposes:
The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs and insurance-related charges. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio<sup>2</sup>** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1002.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$991.40 | &nbsp;&nbsp;&nbsp;&nbsp;$0.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.91 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$986.80 | &nbsp;&nbsp;&nbsp;&nbsp;$0.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.18% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.38% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.65 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.13% |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Shareholder expense example

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Account<br> value on<br> 7-1-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Ending<br> value on<br> 12-31-2022** | &nbsp;&nbsp;&nbsp;&nbsp;**Expenses<br> paid during<br> period ended<br> 12-31-2022<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Annualized<br> expense<br> ratio<sup>2</sup>** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Series I** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;$1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;$976.80 | &nbsp;&nbsp;&nbsp;&nbsp;$0.95 | &nbsp;&nbsp;&nbsp;&nbsp;0.19% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;0.19% |
| **Series II** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.39% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023.20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.39% |
| **Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;Actual expenses/actual returns | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.14% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Hypothetical example | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.14% |

---

<sup>1</sup> Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

<sup>2</sup> Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Managed Volatility Growth Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 92.6%** | **AFFILIATED INVESTMENT COMPANIES (A) - 92.6%** |  |
| **Equity - 65.0%** | **Equity - 65.0%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12433214 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225414175 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28115829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246575823 |
| Equity Income, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22431314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000756 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351203755 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11599226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88502091 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10704965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105443905 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5941153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167365251 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5421801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125731565 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122564300 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3707358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113408081 |
| Small Cap Growth, Class NAV, JHF II (Redwood) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33961098 |
| Small Cap Value, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4846149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64986863 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;110333837 | &nbsp;&nbsp;&nbsp;&nbsp;1677074319 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632231982 |
| **Fixed income - 27.6%** | **Fixed income - 27.6%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29551562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393922318 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137251685 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88242204 | &nbsp;&nbsp;&nbsp;&nbsp;1010373238 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541547241 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,887,544,668) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,887,544,668) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5173779223 |

---

#### Managed Volatility Growth Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES - 2.5%** | **UNAFFILIATED INVESTMENT COMPANIES - 2.5%** |  |
| **Equity - 2.5%** | **Equity - 2.5%** |  |
| Fidelity 500 Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;743553 | $&nbsp;&nbsp;&nbsp;&nbsp;98981793 |
| Fidelity International Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;912322 | &nbsp;&nbsp;&nbsp;&nbsp;37578540 |
| TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $138,291,062) | TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $138,291,062) | $&nbsp;&nbsp;&nbsp;&nbsp;136560333 |
| **SHORT-TERM INVESTMENTS - 2.1%** | **SHORT-TERM INVESTMENTS - 2.1%** |  |
| **Short-term funds - 2.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 11790497 | &nbsp;&nbsp;117855450 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $117,855,913) | TOTAL SHORT-TERM INVESTMENTS (Cost $117,855,913) | $&nbsp;&nbsp;&nbsp;&nbsp;117855450 |
| **Total Investments (Managed Volatility Growth Portfolio) (Cost $6,143,691,643) - 97.2%** |  | $**5428195006** |
| **Other assets and liabilities, net - 2.8%** |  | &nbsp;&nbsp;**158334306** |
| **TOTAL NET ASSETS - 100.0%** |  | $**5586529312** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(181468526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(183624550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2156024) |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;4496 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188860858) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182162244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6698614 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68296080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68236722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59358 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78855960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83717288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4861328) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;5144 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252552807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246757680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5795127 |
| Nikkei 225 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88630611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81716550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6914061 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67802382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66839625) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962757 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96093428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93503520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589908 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;5468 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(1083998369) | &nbsp;&nbsp;&nbsp;&nbsp;(1055597367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28401002 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199391533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(195408000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983533 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$48387008** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Managed Volatility Balanced Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 94.4%** | **AFFILIATED INVESTMENT COMPANIES (A) - 94.4%** |  |
| **Equity - 46.1%** | **Equity - 46.1%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7915138 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143501447 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13617576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119426144 |
| Equity Income, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14525410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200741171 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206103381 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5011067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38234440 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4884647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48113770 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76139932 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61770902 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68636680 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53105953 |
| Small Cap Growth, Class NAV, JHF II (Redwood) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19012810 |
| Small Cap Value, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41269394 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61126506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929122886 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005178910 |
| **Fixed income - 48.3%** | **Fixed income - 48.3%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40437410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539030673 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17065171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187375576 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;120105530 | &nbsp;&nbsp;&nbsp;&nbsp;1375208322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101614571 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,719,604,020) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,719,604,020) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4106793481 |

---

#### Managed Volatility Balanced Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES - 1.9%** | **UNAFFILIATED INVESTMENT COMPANIES - 1.9%** |  |
| **Equity - 1.9%** | **Equity - 1.9%** |  |
| Fidelity 500 Index Fund | &nbsp;&nbsp;614706 | $&nbsp;&nbsp;&nbsp;&nbsp;81829705 |
| TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $81,772,950) | TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $81,772,950) | $&nbsp;&nbsp;&nbsp;&nbsp;81829705 |
| **SHORT-TERM INVESTMENTS - 1.7%** | **SHORT-TERM INVESTMENTS - 1.7%** |  |
| **Short-term funds - 1.7%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 7242044 | &nbsp;&nbsp;&nbsp;&nbsp;72390026 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $72,389,857) | TOTAL SHORT-TERM INVESTMENTS (Cost $72,389,857) | $&nbsp;&nbsp;&nbsp;&nbsp;72390026 |
| **Total Investments (Managed Volatility Balanced Portfolio) (Cost $4,873,766,827) - 98.0%** |  | $**4261013212** |
| **Other assets and liabilities, net - 2.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**86713315** |
| **TOTAL NET ASSETS - 100.0%** |  | $**4347726527** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$(94727814) | &nbsp;&nbsp;&nbsp;&nbsp;$(95845025) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1117211) |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98033988) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94525026) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508962 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34892564) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34840443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52121 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40069088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42484838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2415750) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(125204788) | &nbsp;&nbsp;&nbsp;&nbsp;(122323500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881288 |
| Nikkei 225 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45533762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42036879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496883 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35001572) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34514925) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486647 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53432906) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51975915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456991 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;3253 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(644956161) | &nbsp;&nbsp;&nbsp;&nbsp;(627991685) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16964476 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(109952286) | &nbsp;&nbsp;&nbsp;&nbsp;(107718660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233626 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$27548033** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Managed Volatility Moderate Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 94.9%** | **AFFILIATED INVESTMENT COMPANIES (A) - 94.9%** |  |
| **Equity - 36.5%** | **Equity - 36.5%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920003 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34809656 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23107086 |
| Equity Income, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3704280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51193151 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49139934 |
| Mid Cap Growth, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563279 |
| Mid Value, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12378930 |
| Multifactor Developed International ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11112924 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9716077 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8745704 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7160599 |
| Small Cap Growth, Class NAV, JHF II (Redwood) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4519197 |
| Small Cap Value, Series NAV, JHVIT (Wellington) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8420067 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13996543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212747460 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443614064 |
| **Fixed income - 58.4%** | **Fixed income - 58.4%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13618087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181529102 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5753049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63168483 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40501080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463737362 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708434947 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,340,232,471) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,340,232,471) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152049011 |

---

#### Managed Volatility Moderate Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES - 1.9%** | **UNAFFILIATED INVESTMENT COMPANIES - 1.9%** |  |
| **Equity - 1.9%** | **Equity - 1.9%** |  |
| Fidelity 500 Index Fund | &nbsp;&nbsp;167094 | $&nbsp;&nbsp;&nbsp;&nbsp;22243499 |
| TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $21,774,808) | TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $21,774,808) | $&nbsp;&nbsp;&nbsp;&nbsp;22243499 |
| **SHORT-TERM INVESTMENTS - 1.5%** | **SHORT-TERM INVESTMENTS - 1.5%** |  |
| **Short-term funds - 1.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 1839735 | &nbsp;&nbsp;&nbsp;&nbsp;18389625 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $18,389,561) | TOTAL SHORT-TERM INVESTMENTS (Cost $18,389,561) | $&nbsp;&nbsp;&nbsp;&nbsp;18389625 |
| **Total Investments (Managed Volatility Moderate Portfolio) (Cost $1,380,396,840) - 98.3%** |  | $**1192682135** |
| **Other assets and liabilities, net - 1.7%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**21075248** |
| **TOTAL NET ASSETS - 100.0%** |  | $**1213757383** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHF II | John Hancock Funds II |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | Non-income producing. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$(22452942) | &nbsp;&nbsp;&nbsp;&nbsp;$(22717825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(264883) |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23239711) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22405632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834079 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8136800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8123419) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13381 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9627632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10211775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(584143) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25929909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25328160) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601749 |
| Nikkei 225 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10851390) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10018135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833255 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8272514) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8156700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115814 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12460861) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12130665) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330196 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;857 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(169856040) | &nbsp;&nbsp;&nbsp;&nbsp;(165443846) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4412194 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25181274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24670260) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511014 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$6802656** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Managed Volatility Conservative Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 96.5%** | **AFFILIATED INVESTMENT COMPANIES (A) - 96.5%** |  |
| **Equity - 18.4%** | **Equity - 18.4%** |  |
| Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582450 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10559819 |
| Emerging Markets Equity, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6291977 |
| Equity Income, Series NAV, JHVIT (T. Rowe Price) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15524399 |
| Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13591175 |
| Multifactor Emerging Markets ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582276 |
| Multifactor Mid Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8809696 |
| Multifactor Small Cap ETF, JHETF (DFA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955921 |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57614450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121929713 |
| **Fixed income - 78.1%** | **Fixed income - 78.1%** |  |
| Bond, Class NAV, JHSB (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9940974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132513178 |
| Core Bond, Series NAV, JHVIT (Allspring Investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45937623 |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29482399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337573471 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516024272 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $744,292,777) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $744,292,777) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637953985 |
| **UNAFFILIATED INVESTMENT COMPANIES - 0.8%** | **UNAFFILIATED INVESTMENT COMPANIES - 0.8%** |  |
| **Equity - 0.8%** | **Equity - 0.8%** |  |
| Fidelity 500 Index Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256943 |
| TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $5,269,839) | TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $5,269,839) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256943 |

---

#### Managed Volatility Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 1.2%** | **SHORT-TERM INVESTMENTS - 1.2%** |  |
| **Short-term funds - 1.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 784155 | $&nbsp;&nbsp;&nbsp;7838254 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,838,260) | TOTAL SHORT-TERM INVESTMENTS (Cost $7,838,260) | $&nbsp;&nbsp;&nbsp;&nbsp;7838254 |
| **Total Investments (Managed Volatility Conservative Portfolio) (Cost $757,400,876) - 98.5%** |  | $**651049182** |
| **Other assets and liabilities, net - 1.5%** |  | &nbsp;&nbsp;&nbsp;**9730441** |
| **TOTAL NET ASSETS - 100.0%** |  | $**660779623** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHETF | John Hancock Exchange-Traded Fund Trust |
| JHIT | John Hancock Investment Trust |
| JHSB | John Hancock Sovereign Bond Fund |
| JHVIT | John Hancock Variable Insurance Trust |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Euro Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$(9302736) | &nbsp;&nbsp;&nbsp;&nbsp;$(9409750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(107014) |
| Euro STOXX 50 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9579878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9237765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342113 |
| FTSE 100 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3164034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3159108) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4926 |
| Japanese Yen Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3918541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4142513) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223972) |
| MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(11542389) | &nbsp;&nbsp;&nbsp;&nbsp;(11272950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269439 |
| Nikkei 225 Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4022106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3732246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289860 |
| Pound Sterling Currency Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3216627) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3172050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44577 |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5911076) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5755425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155651 |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(81675437) | &nbsp;&nbsp;&nbsp;&nbsp;(79540881) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2134556 |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(14958731) | &nbsp;&nbsp;&nbsp;&nbsp;(14655600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303131 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$3213267** |

---

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Investment companies

---

| | |
|:---|:---|
| **Subadvisors of Affiliated Underlying Funds** | **Subadvisors of Affiliated Underlying Funds** |
| Allspring Global Investments, LLC | (Allspring Investments) |
| Dimensional Fund Advisors, LP | (DFA) |
| Manulife Investment Management (US) LLC | (MIM US) |
| Redwood Investments, LLC | (Redwood) |
| T. Rowe Price Associates, Inc. | (T. Rowe Price) |
| Wellington Management Company LLP | (Wellington) |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Statements of assets and liabilities — December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Unaffiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$136560333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$81829705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22243499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5256943 |
| Affiliated investments, at value | &nbsp;&nbsp;&nbsp;&nbsp;5291634673 | &nbsp;&nbsp;&nbsp;&nbsp;4179183507 | &nbsp;&nbsp;&nbsp;&nbsp;1170438636 | &nbsp;&nbsp;&nbsp;&nbsp;645792239 |
| **Total investments, at value** | &nbsp;&nbsp;&nbsp;&nbsp;**5428195006** | &nbsp;&nbsp;&nbsp;&nbsp;**4261013212** | &nbsp;&nbsp;&nbsp;&nbsp;**1192682135** | &nbsp;&nbsp;&nbsp;&nbsp;**651049182** |
| Receivable for futures variation margin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9905412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543959 |
| Foreign currency, at value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28173389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15527769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424693 |
| Collateral held at broker for futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7780000 |
| Dividends and interest receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2043943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473318 |
| Receivable for fund shares sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154384 |
| Other assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25712 |
| **Total assets** | &nbsp;&nbsp;&nbsp;&nbsp;**5589498406** | &nbsp;&nbsp;&nbsp;&nbsp;**4350712652** | &nbsp;&nbsp;&nbsp;&nbsp;**1215163130** | &nbsp;&nbsp;&nbsp;&nbsp;**661451248** |
| **Liabilities** |  |  |  |  |
| Due to custodian | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for investments purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479089 |
| Payable for fund shares repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138140 |
| Payable to affiliates |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32838 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 |
| Other liabilities and accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21303 |
| **Total liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2969094** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2986125** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1405747** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**671625** |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5586529312** | &nbsp;&nbsp;&nbsp;&nbsp;**$4347726527** | &nbsp;&nbsp;&nbsp;&nbsp;**$1213757383** | &nbsp;&nbsp;&nbsp;&nbsp;**$660779623** |
| **Net assets consist of** |  |  |  |  |
| Paid-in capital | &nbsp;&nbsp;&nbsp;&nbsp;$5766526853 | &nbsp;&nbsp;&nbsp;&nbsp;$4709250236 | &nbsp;&nbsp;&nbsp;&nbsp;$1350718109 | &nbsp;&nbsp;&nbsp;&nbsp;$766859700 |
| Total distributable earnings (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179997541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(361523709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136960726) | &nbsp;&nbsp;&nbsp;&nbsp;(106080077) |
| **Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;**$5586529312** | &nbsp;&nbsp;&nbsp;&nbsp;**$4347726527** | &nbsp;&nbsp;&nbsp;&nbsp;**$1213757383** | &nbsp;&nbsp;&nbsp;&nbsp;**$660779623** |
| Unaffiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$138291062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$81772950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21774808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5269839 |
| Affiliated investments, at cost | &nbsp;&nbsp;&nbsp;&nbsp;$6005400581 | &nbsp;&nbsp;&nbsp;&nbsp;$4791993877 | &nbsp;&nbsp;&nbsp;&nbsp;$1358622032 | &nbsp;&nbsp;&nbsp;&nbsp;$752131037 |
| Foreign currency, at cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27919948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15415651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3548868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1414633 |
| **Net asset value per share** |  |  |  |  |
| The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. | The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |  |  |  |
| **Series I** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$449511368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$360083183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$152517660 | &nbsp;&nbsp;&nbsp;&nbsp;$108949084 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41663312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36028830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15873405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11296328 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.64 |
| **Series II** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;$4246307150 | &nbsp;&nbsp;&nbsp;&nbsp;$2968636990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$945191111 | &nbsp;&nbsp;&nbsp;&nbsp;$499145763 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395335017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299514168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99254472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52219947 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.56 |
| **Series NAV** |  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$890710794 | &nbsp;&nbsp;&nbsp;&nbsp;$1019006354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$116048612 | &nbsp;&nbsp;&nbsp;&nbsp;$52684776 |
| Shares outstanding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82400913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101609572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12061365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5446557 |
| Net asset value, offering price and redemption price per share | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9.67 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Statements of operations — For the year ended December 31, 2022

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment income** | &nbsp;&nbsp;&nbsp;**Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
| Dividends from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$106377713 | &nbsp;&nbsp;&nbsp;&nbsp;$102033760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31009367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19911862 |
| Dividends from unaffiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93940 |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1869315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97334 |
| **Total investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**110766726** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**104398998** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**31635254** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20103136** |
| **Expenses** |  |  |  |  |
| Investment management fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11589897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8476306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2248531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252924 |
| Distribution and service fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11977391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8489761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478503 |
| Accounting and legal services fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111653 |
| Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15159 |
| Custodian fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36678 |
| Printing and postage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24474 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56161 |
| Other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29026 |
| **Total expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25171674** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18277599** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5412849** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3004578** |
| Less expense reductions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5475718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3968238) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1035245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(570336) |
| **Net expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19695956** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14309361** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4377604** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2434242** |
| **Net investment income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**91070770** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**90089637** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**27257650** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17668894** |
| **Realized and unrealized gain (loss)** |  |  |  |  |
| **Net realized gain (loss) on** |  |  |  |  |
| Unaffiliated investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413612 |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26950784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14919554) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7488902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7324518) |
| Capital gain distributions received from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498611262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292483865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70990319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19777237 |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99217765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34221241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6427968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1377535) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**624831973** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**314326649** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**70856917** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11488796** |
| **Change in net unrealized appreciation (depreciation) of** |  |  |  |  |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29469979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21145754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6195740) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1761138) |
| Affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;(1794825275) | &nbsp;&nbsp;&nbsp;(1252961820) | &nbsp;&nbsp;&nbsp;&nbsp;(333227196) | &nbsp;&nbsp;&nbsp;&nbsp;(158069437) |
| Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42762820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24589656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5758165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935749 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**(1781532434)** | &nbsp;&nbsp;&nbsp;**(1249517918)** | &nbsp;&nbsp;&nbsp;&nbsp;**(333664771)** | &nbsp;&nbsp;&nbsp;&nbsp;**(156894826)** |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1156700461)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(935191269)** | &nbsp;&nbsp;&nbsp;&nbsp;**(262807854)** | &nbsp;&nbsp;&nbsp;&nbsp;**(145406030)** |
| **Decrease in net assets from operations** | &nbsp;&nbsp;&nbsp;**$(1065629691)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(845101632)** | &nbsp;&nbsp;&nbsp;**$(235550204)** | &nbsp;&nbsp;&nbsp;**$(127737136)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Statements of changes in net assets

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility<br> Growth Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Moderate Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |  |  |  |  |
| **From operations** |  |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91070770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$106859701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$90089637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$102994022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27257650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31275963 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624831973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744412970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314326649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517038012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70856917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134689237 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(1781532434) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16968780 | &nbsp;&nbsp;&nbsp;&nbsp;(1249517918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75082894) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(333664771) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39566745) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(1065629691)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**868241451** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(845101632)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**544949140** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(235550204)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**126398455** |
| **Distributions to shareholders** |  |  |  |  |  |  |
| From earnings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20688808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12840098) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21054525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11926210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9278308) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5306189) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188720320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(111959398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(168108762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93058090) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56172680) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32485922) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41176056) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23712732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59310423) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32156787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7064870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3897089) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(250585184)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(148512228)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(248473710)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(137141087)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(72515858)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(41689200)** |
| **From portfolio share transactions** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(391915950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(975161322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(294196264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(675125203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93298506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(195526275) |
| &nbsp;&nbsp;&nbsp;Issued in reorganization | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348985371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;**Total from portfolio share transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(391915950)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(626175951)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(294196264)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(675125203)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(93298506)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(195526275)** |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(1708130825)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**93553272** | &nbsp;&nbsp;&nbsp;&nbsp;**(1387771606)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(267317150)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(401364568)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(110817020)** |
| **Net assets** |  |  |  |  |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;7294660137 | &nbsp;&nbsp;&nbsp;&nbsp;7201106865 | &nbsp;&nbsp;&nbsp;&nbsp;5735498133 | &nbsp;&nbsp;&nbsp;&nbsp;6002815283 | &nbsp;&nbsp;&nbsp;&nbsp;1615121951 | &nbsp;&nbsp;&nbsp;&nbsp;1725938971 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$5586529312** | &nbsp;&nbsp;&nbsp;**$7294660137** | &nbsp;&nbsp;&nbsp;**$4347726527** | &nbsp;&nbsp;&nbsp;**$5735498133** | &nbsp;&nbsp;&nbsp;**$1213757383** | &nbsp;&nbsp;&nbsp;**$1615121951** |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;**Managed Volatility Conservative Portfolio** |
|  | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-22** | &nbsp;&nbsp;&nbsp;**Year ended <br> 12-31-21** |
| **Increase (decrease) in net assets** |  |  |
| **From operations** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;$17668894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20376819 |
| Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11488796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47974687 |
| Change in net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(156894826) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37605679) |
| **Increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp;&nbsp;**(127737136)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30745827** |
| **Distributions to shareholders** |  |  |
| From earnings |  |  |
| &nbsp;&nbsp;&nbsp;Series I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3234492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4396341) |
| &nbsp;&nbsp;&nbsp;Series II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13926746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19648197) |
| &nbsp;&nbsp;&nbsp;Series NAV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1581162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1910753) |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(18742400)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(25955291)** |
| **From portfolio share transactions** |  |  |
| &nbsp;&nbsp;&nbsp;Portfolio share transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82479687) | &nbsp;&nbsp;&nbsp;&nbsp;(121366025) |
| &nbsp;&nbsp;&nbsp;Issued in reorganization | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;**Total from portfolio share transactions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(82479687)** | &nbsp;&nbsp;&nbsp;&nbsp;**(121366025)** |
| **Total increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;**(228959223)** | &nbsp;&nbsp;&nbsp;&nbsp;**(116575489)** |
| **Net assets** |  |  |
| Beginning of year | &nbsp;&nbsp;&nbsp;&nbsp;889738846 | &nbsp;&nbsp;&nbsp;1006314335 |
| **End of year** | &nbsp;&nbsp;&nbsp;**$660779623** | &nbsp;&nbsp;&nbsp;&nbsp;**$889738846** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** | **Per share operating performance for a share outstanding throughout each period** |  | **Ratios and supplemental data** | **Ratios and supplemental data** | **Ratios and supplemental data** |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 13.28 | 0.19 | (2.17) | (1.98) | (0.20) | (0.31) | (0.51) | 10.79 | (14.86) | 0.27 | 0.18 | 1.64 | &nbsp;&nbsp;&nbsp;450 | 14 |
| 12-31-2021 | 12.03 | 0.21 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.54 | (0.21) | (0.08) | (0.29) | 13.28 | &nbsp;&nbsp;12.82 | 0.25 | 0.16 | 1.64 | &nbsp;&nbsp;&nbsp;589 | 12<sup>5</sup> |
| 12-31-2020 | 13.28 | 0.21 | (0.46) | (0.25) | (0.24) | (0.76) | (1.00) | 12.03 | &nbsp;&nbsp;(1.42) | 0.28 | 0.15 | 1.75 | &nbsp;&nbsp;&nbsp;545 | 13 |
| 12-31-2019 | 12.20 | 0.24 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.30 | (0.21) | (1.01) | (1.22) | 13.28 | &nbsp;&nbsp;19.56 | 0.27 | 0.13 | 1.85 | &nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;8 |
| 12-31-2018 | 14.55 | 0.24 | (1.08) | (0.84) | (0.23) | (1.28) | (1.51) | 12.20 | &nbsp;&nbsp;(6.54) | 0.15 | 0.10 | 1.67 | &nbsp;&nbsp;&nbsp;591 | 37 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 13.22 | 0.17 | (2.16) | (1.99) | (0.18) | (0.31) | (0.49) | 10.74 | (15.03) | 0.47 | 0.38 | 1.43 | 4246 | 14 |
| 12-31-2021 | 11.98 | 0.18 | &nbsp;&nbsp;1.33 | &nbsp;&nbsp;1.51 | (0.19) | (0.08) | (0.27) | 13.22 | &nbsp;&nbsp;12.58 | 0.45 | 0.36 | 1.37 | 5630 | 12<sup>5</sup> |
| 12-31-2020 | 13.23 | 0.18 | (0.46) | (0.28) | (0.21) | (0.76) | (0.97) | 11.98 | &nbsp;&nbsp;(1.60) | 0.48 | 0.35 | 1.53 | 5886 | 13 |
| 12-31-2019 | 12.16 | 0.21 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.27 | (0.19) | (1.01) | (1.20) | 13.23 | &nbsp;&nbsp;19.32 | 0.47 | 0.33 | 1.64 | 7116 | &nbsp;&nbsp;8 |
| 12-31-2018 | 14.51 | 0.21 | (1.07) | (0.86) | (0.21) | (1.28) | (1.49) | 12.16 | &nbsp;&nbsp;(6.70) | 0.35 | 0.30 | 1.45 | 6931 | 37 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 13.30 | 0.20 | (2.17) | (1.97) | (0.21) | (0.31) | (0.52) | 10.81 | (14.79) | 0.22 | 0.13 | 1.72 | &nbsp;&nbsp;&nbsp;891 | 14 |
| 12-31-2021 | 12.05 | 0.23 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.55 | (0.22) | (0.08) | (0.30) | 13.30 | &nbsp;&nbsp;12.85 | 0.20 | 0.11 | 1.80 | 1075 | 12<sup>5</sup> |
| 12-31-2020 | 13.30 | 0.22 | (0.47) | (0.25) | (0.24) | (0.76) | (1.00) | 12.05 | &nbsp;&nbsp;(1.37) | 0.23 | 0.10 | 1.85 | &nbsp;&nbsp;&nbsp;769 | 13 |
| 12-31-2019 | 12.21 | 0.26 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.32 | (0.22) | (1.01) | (1.23) | 13.30 | &nbsp;&nbsp;19.68 | 0.22 | 0.08 | 1.95 | &nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;8 |
| 12-31-2018 | 14.57 | 0.25 | (1.09) | (0.84) | (0.24) | (1.28) | (1.52) | 12.21 | &nbsp;&nbsp;(6.55) | 0.10 | 0.05 | 1.76 | &nbsp;&nbsp;&nbsp;703 | 37 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Excludes merger activity.** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 12.48 | 0.22 | (2.11) | (1.89) | (0.23) | (0.37) | (0.60) | &nbsp;&nbsp;9.99 | (15.08) | 0.25 | 0.17 | 2.01 | &nbsp;&nbsp;&nbsp;360 | 11 |
| 12-31-2021 | 11.66 | 0.23 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.14 | (0.25) | (0.07) | (0.32) | 12.48 | &nbsp;&nbsp;&nbsp;9.76 | 0.24 | 0.15 | 1.89 | &nbsp;&nbsp;&nbsp;476 | 11 |
| 12-31-2020 | 12.41 | 0.25 | (0.07) | &nbsp;&nbsp;0.18 | (0.27) | (0.66) | (0.93) | 11.66 | &nbsp;&nbsp;&nbsp;1.81 | 0.26 | 0.15 | 2.11 | &nbsp;&nbsp;&nbsp;498 | 12 |
| 12-31-2019 | 11.23 | 0.25 | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;1.98 | (0.23) | (0.57) | (0.80) | 12.41 | &nbsp;&nbsp;17.92 | 0.26 | 0.13 | 2.07 | &nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.96 | 0.25 | (0.82) | (0.57) | (0.25) | (0.91) | (1.16) | 11.23 | &nbsp;&nbsp;(4.89) | 0.15 | 0.10 | 1.95 | &nbsp;&nbsp;&nbsp;531 | 36 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 12.38 | 0.20 | (2.09) | (1.89) | (0.21) | (0.37) | (0.58) | &nbsp;&nbsp;9.91 | (15.22) | 0.45 | 0.37 | 1.79 | 2969 | 11 |
| 12-31-2021 | 11.57 | 0.20 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;1.10 | (0.22) | (0.07) | (0.29) | 12.38 | &nbsp;&nbsp;&nbsp;9.54 | 0.44 | 0.35 | 1.66 | 3991 | 11 |
| 12-31-2020 | 12.33 | 0.22 | (0.08) | &nbsp;&nbsp;0.14 | (0.24) | (0.66) | (0.90) | 11.57 | &nbsp;&nbsp;&nbsp;1.55 | 0.46 | 0.35 | 1.89 | 4288 | 12 |
| 12-31-2019 | 11.16 | 0.22 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;1.94 | (0.20) | (0.57) | (0.77) | 12.33 | &nbsp;&nbsp;17.73 | 0.46 | 0.33 | 1.86 | 4957 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.89 | 0.22 | (0.82) | (0.60) | (0.22) | (0.91) | (1.13) | 11.16 | &nbsp;&nbsp;(5.04) | 0.35 | 0.30 | 1.73 | 4900 | 36 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 12.52 | 0.23 | (2.11) | (1.88) | (0.24) | (0.37) | (0.61) | 10.03 | (14.98) | 0.20 | 0.12 | 2.08 | 1019 | 11 |
| 12-31-2021 | 11.69 | 0.24 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.15 | (0.25) | (0.07) | (0.32) | 12.52 | &nbsp;&nbsp;&nbsp;9.88 | 0.19 | 0.10 | 1.97 | 1269 | 11 |
| 12-31-2020 | 12.45 | 0.26 | (0.09) | &nbsp;&nbsp;0.17 | (0.27) | (0.66) | (0.93) | 11.69 | &nbsp;&nbsp;&nbsp;1.77 | 0.21 | 0.10 | 2.20 | 1217 | 12 |
| 12-31-2019 | 11.26 | 0.26 | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;1.99 | (0.23) | (0.57) | (0.80) | 12.45 | &nbsp;&nbsp;18.02 | 0.21 | 0.08 | 2.16 | 1261 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.99 | 0.26 | (0.83) | (0.57) | (0.25) | (0.91) | (1.16) | 11.26 | &nbsp;&nbsp;(4.82) | 0.10 | 0.05 | 2.04 | 1133 | 36 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Financial highlights

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period | Per share operating performance for a share outstanding throughout each period |  | Ratios and supplemental data | Ratios and supplemental data | Ratios and supplemental data |
|  |  | **Income (loss) from investment operations** | **Income (loss) from investment operations** |  |  | **Less distributions** | **Less distributions** | **Less distributions** |  |  |  | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** |
| Period ended | Net asset<br> value,<br> beginning<br> of period ($) | Net<br> investment<br> income<br> (loss) ($)<sup>1, 2</sup> | Net realized and<br> unrealized<br> gain (loss)<br> on investments ($) | Total from<br> investment<br> operations ($) | From net<br> investment<br> income ($) | From net<br> realized<br> gain ($) | Total<br> distributions ($) | Net asset<br> value,<br> end of<br> period ($) | Total<br> return<br> (%)<sup>3</sup> | Expenses<br> before<br> reductions<br> (%)<sup>4</sup> | Expenses<br> including<br> reductions<br> (%)<sup>4</sup> | Net<br> investment<br> income<br> (loss) (%)<sup>2</sup> | Net<br> assets,<br> end of<br> period<br> (in millions) | Portfolio<br> turnover<br> (%) |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 12.01 | 0.23 | (2.03) | (1.80) | (0.24) | (0.36) | (0.60) | &nbsp;&nbsp;9.61 | (14.87) | 0.25 | 0.17 | 2.19 | &nbsp;&nbsp;&nbsp;153 | 10 |
| 12-31-2021 | 11.44 | 0.24 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.90 | (0.25) | (0.08) | (0.33) | 12.01 | &nbsp;&nbsp;&nbsp;7.90 | 0.24 | 0.15 | 2.02 | &nbsp;&nbsp;&nbsp;196 | 10 |
| 12-31-2020 | 11.94 | 0.26 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.36 | (0.28) | (0.58) | (0.86) | 11.44 | &nbsp;&nbsp;&nbsp;3.31 | 0.25 | 0.14 | 2.29 | &nbsp;&nbsp;&nbsp;208 | 11 |
| 12-31-2019 | 10.84 | 0.26 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.79 | (0.24) | (0.45) | (0.69) | 11.94 | &nbsp;&nbsp;16.72 | 0.25 | 0.13 | 2.18 | &nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.33 | 0.26 | (0.71) | (0.45) | (0.26) | (0.78) | (1.04) | 10.84 | &nbsp;&nbsp;(3.99) | 0.14 | 0.09 | 2.12 | &nbsp;&nbsp;&nbsp;230 | 35 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.91 | 0.21 | (2.02) | (1.81) | (0.22) | (0.36) | (0.58) | &nbsp;&nbsp;9.52 | (15.10) | 0.45 | 0.37 | 1.95 | &nbsp;&nbsp;&nbsp;945 | 10 |
| 12-31-2021 | 11.34 | 0.22 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.88 | (0.23) | (0.08) | (0.31) | 11.91 | &nbsp;&nbsp;&nbsp;7.76 | 0.44 | 0.35 | 1.82 | 1277 | 10 |
| 12-31-2020 | 11.85 | 0.23 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.33 | (0.26) | (0.58) | (0.84) | 11.34 | &nbsp;&nbsp;&nbsp;3.05 | 0.45 | 0.34 | 2.06 | 1379 | 11 |
| 12-31-2019 | 10.77 | 0.23 | &nbsp;&nbsp;1.52 | &nbsp;&nbsp;1.75 | (0.22) | (0.45) | (0.67) | 11.85 | &nbsp;&nbsp;16.43 | 0.45 | 0.33 | 1.97 | 1552 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.25 | 0.23 | (0.69) | (0.46) | (0.24) | (0.78) | (1.02) | 10.77 | &nbsp;&nbsp;(4.12) | 0.34 | 0.29 | 1.89 | 1557 | 35 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 12.03 | 0.24 | (2.04) | (1.80) | (0.25) | (0.36) | (0.61) | &nbsp;&nbsp;9.62 | (14.89) | 0.20 | 0.12 | 2.27 | &nbsp;&nbsp;&nbsp;116 | 10 |
| 12-31-2021 | 11.45 | 0.25 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.92 | (0.26) | (0.08) | (0.34) | 12.03 | &nbsp;&nbsp;&nbsp;8.03 | 0.19 | 0.10 | 2.12 | &nbsp;&nbsp;&nbsp;142 | 10 |
| 12-31-2020 | 11.96 | 0.27 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.35 | (0.28) | (0.58) | (0.86) | 11.45 | &nbsp;&nbsp;&nbsp;3.27 | 0.20 | 0.09 | 2.38 | &nbsp;&nbsp;&nbsp;139 | 11 |
| 12-31-2019 | 10.85 | 0.27 | &nbsp;&nbsp;1.54 | &nbsp;&nbsp;1.81 | (0.25) | (0.45) | (0.70) | 11.96 | &nbsp;&nbsp;16.85 | 0.20 | 0.08 | 2.29 | &nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;8 |
| 12-31-2018 | 12.34 | 0.26 | (0.70) | (0.44) | (0.27) | (0.78) | (1.05) | 10.85 | &nbsp;&nbsp;(3.94) | 0.09 | 0.04 | 2.15 | &nbsp;&nbsp;&nbsp;119 | 35 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** | **Series I** |
| 12-31-2022 | 11.66 | 0.26 | (1.99) | (1.73) | (0.28) | (0.01) | (0.29) | &nbsp;&nbsp;9.64 | (14.80) | 0.25 | 0.18 | 2.53 | &nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.62 | 0.28 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.40 | (0.29) | (0.07) | (0.36) | 11.66 | &nbsp;&nbsp;&nbsp;3.48 | 0.25 | 0.16 | 2.33 | &nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.75 | 0.30 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.39 | (0.33) | (0.19) | (0.52) | 11.62 | &nbsp;&nbsp;&nbsp;3.39 | 0.26 | 0.14 | 2.57 | &nbsp;&nbsp;&nbsp;154 | 10 |
| 12-31-2019 | 10.61 | 0.29 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.42 | (0.26) | (0.02) | (0.28) | 11.75 | &nbsp;&nbsp;13.38 | 0.25 | 0.14 | 2.50 | &nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;8 |
| 12-31-2018 | 11.48 | 0.27 | (0.51) | (0.24) | (0.28) | (0.35) | (0.63) | 10.61 | &nbsp;&nbsp;(2.18) | 0.15 | 0.09 | 2.43 | &nbsp;&nbsp;&nbsp;155 | 34 |
| **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** | **Series II** |
| 12-31-2022 | 11.56 | 0.24 | (1.97) | (1.73) | (0.26) | (0.01) | (0.27) | &nbsp;&nbsp;9.56 | (14.93) | 0.45 | 0.38 | 2.31 | &nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.52 | 0.25 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.38 | (0.27) | (0.07) | (0.34) | 11.56 | &nbsp;&nbsp;&nbsp;3.31 | 0.45 | 0.36 | 2.10 | &nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.66 | 0.27 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.36 | (0.31) | (0.19) | (0.50) | 11.52 | &nbsp;&nbsp;&nbsp;3.13 | 0.46 | 0.34 | 2.36 | &nbsp;&nbsp;&nbsp;794 | 10 |
| 12-31-2019 | 10.53 | 0.25 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;1.39 | (0.24) | (0.02) | (0.26) | 11.66 | &nbsp;&nbsp;13.18 | 0.45 | 0.34 | 2.23 | &nbsp;&nbsp;&nbsp;888 | &nbsp;&nbsp;8 |
| 12-31-2018 | 11.40 | 0.25 | (0.52) | (0.27) | (0.25) | (0.35) | (0.60) | 10.53 | &nbsp;&nbsp;(2.39) | 0.35 | 0.29 | 2.19 | &nbsp;&nbsp;&nbsp;908 | 34 |
| **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** | **Series NAV** |
| 12-31-2022 | 11.69 | 0.28 | (2.00) | (1.72) | (0.29) | (0.01) | (0.30) | &nbsp;&nbsp;9.67 | (14.72) | 0.20 | 0.13 | 2.67 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;8 |
| 12-31-2021 | 11.65 | 0.29 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.41 | (0.30) | (0.07) | (0.37) | 11.69 | &nbsp;&nbsp;&nbsp;3.52 | 0.20 | 0.11 | 2.44 | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;7 |
| 12-31-2020 | 11.78 | 0.31 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.40 | (0.34) | (0.19) | (0.53) | 11.65 | &nbsp;&nbsp;&nbsp;3.43 | 0.21 | 0.09 | 2.71 | &nbsp;&nbsp;&nbsp;&nbsp;59 | 10 |
| 12-31-2019 | 10.64 | 0.29 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;1.43 | (0.27) | (0.02) | (0.29) | 11.78 | &nbsp;&nbsp;13.50 | 0.20 | 0.09 | 2.55 | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;8 |
| 12-31-2018 | 11.51 | 0.27 | (0.51) | (0.24) | (0.28) | (0.35) | (0.63) | 10.64 | &nbsp;&nbsp;(2.21) | 0.10 | 0.04 | 2.42 | &nbsp;&nbsp;&nbsp;&nbsp;51 | 34 |
| **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** | **1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.** |

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| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Notes to financial statements

------

1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, four of which are presented in this report (collectively, Managed Volatility Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as "funds of funds" that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

The investment objectives of the portfolios are as follows:

#### Managed Volatility Growth Portfolio
To seek long term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Balanced Portfolio
To seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Moderate Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

#### Managed Volatility Conservative Portfolio
To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

The accounting policies of the underlying funds in which the portfolios invest are outlined in the underlying funds' shareholder reports, which include the underlying funds' financial statements. These are available on the Securities and Exchange Commission (SEC) website at sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The underlying funds are not covered by this report.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

**Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor's Valuation Policies and Procedures.**

In order to value the securities, the portfolios use the following valuation techniques: Investments in affiliated underlying funds and/or other open-end management investment companies, other than exchange-traded funds (ETFs), are valued at their respective NAVs each business day. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 p.m. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.

The portfolios use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

**Significant accounting policies, continued speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor's assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.**

The following is a summary of the values by input classification of the portfolios' investments as of December 31, 2022, by major security category or type:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5173779223** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5173779223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**136560333** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136560333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**117855450** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117855450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$5428195006** | **$5428195006** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$55404360** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55404360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(7017352)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7017352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4106793481** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4106793481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81829705** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81829705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**72390026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72390026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$4261013212** | **$4261013212** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$31080994** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31080994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3532961)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3532961) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1152049011** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1152049011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22243499** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22243499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18389625** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18389625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | **$1192682135** | **$1192682135** | **—** | **—** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7651682** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7651682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(849026)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(849026) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| **Investments in securities:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$637953985** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$637953985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated investment companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5256943** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7838254** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total investments in securities** | &nbsp;&nbsp;&nbsp;&nbsp;**$651049182** | &nbsp;&nbsp;&nbsp;&nbsp;**$651049182** | **—** | **—** |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

#### Significant accounting policies, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> value at<br> 12-31-22** | **Level 1<br> quoted<br> price** | **Level 2<br> significant<br> observable<br> inputs** | **Level 3<br> significant<br> unobservable<br> inputs** |
| **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** | **Managed Volatility Conservative Portfolio (continued)** |
| **Derivatives:** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3544253** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3544253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(330986)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(330986) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.**

**Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.** 

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

**Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.**

**Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the year ended December 31, 2022, the portfolios had no borrowings under the line of credit.**

Commitment fees for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commitment fee** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$21779 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17843 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7250 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5389 |

---

**Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and the portfolio's relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.**

**Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.**

**Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.**

As of December 31, 2022, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on December 31, 2022, including short-term investments, were as follows:

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aggregate<br> cost** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net unrealized<br> appreciation/<br> (depreciation)** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$6311811917 | &nbsp;&nbsp;&nbsp;&nbsp;$167039896 | &nbsp;&nbsp;&nbsp;&nbsp;$(1002269799) | &nbsp;&nbsp;&nbsp;&nbsp;$(835229903) |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993573711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93866030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(798878496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(705012466) |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415561304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19288378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(235364891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216076513) |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774254469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8449698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128441718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(119992020) |

---

**Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends and capital gain distributions, if any, annually.**

The tax character of distributions for the year ended December 31, 2022 was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Long Term<br> Capital Gains** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$128489087 | &nbsp;&nbsp;&nbsp;&nbsp;$122096097 | &nbsp;&nbsp;&nbsp;&nbsp;$250585184 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110411541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138062169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248473710 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32421411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40094447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72515858 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18742400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18742400 |

---

The tax character of distributions for the year ended December 31, 2021 was as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ordinary<br> Income** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$148512228 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137141087 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41689200 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25955291 |

---

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of December 31, 2022, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Ordinary Income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Undistributed<br> Long Term<br> Capital Gains** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$59012781 | &nbsp;&nbsp;&nbsp;&nbsp;$595966140 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26756113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316632905 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5712074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73372662 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12734575 |

---

Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to wash sale loss deferrals and derivative transactions.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

**Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.**

Upon entering into a futures contract, the portfolio is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a portfolio, if any, is detailed in the Statements of assets and liabilities as

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

**Derivative instruments, continued Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by a portfolio periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolio. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a portfolio records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.**

The following table details how the portfolios used futures contracts during the year ended December 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reason** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**USD Notional range** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$575.0 million to $2.7 billion |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$299.5 million to $1.5 billion |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$71.0 million to $341.6 million |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;To manage volatility of returns and gain exposure to foreign currencies. | &nbsp;&nbsp;&nbsp;&nbsp;$11.0 million to $144.1 million |

---

#### Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the portfolios at December 31, 2022 by risk category:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial<br> instruments<br> location** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets<br> derivatives<br> fair value** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities<br> derivatives<br> fair value** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$962757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(7017352) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54441603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$55404360** | &nbsp;&nbsp;&nbsp;&nbsp;**$(7017352)** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$486647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3532961) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30594347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$31080994** | &nbsp;&nbsp;&nbsp;&nbsp;**$(3532961)** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$115814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(849026) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7535868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7651682** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(849026)** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;Currency &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(330986) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity &nbsp;&nbsp;&nbsp;&nbsp;Receivable/payable for futures variation margin<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3544253** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(330986)** |

---

<br> <sup>1</sup> Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

#### Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Net realized gain (loss) on:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$29549960 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69667805 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$99217765** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$11561128 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22660113 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$34221241** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2082938 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4345030 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$6427968** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149817 |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1527352) |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$(1377535)** |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

**Derivative instruments, continued The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended December 31, 2022:**

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Statements of operations location - Change in net unrealized appreciation (depreciation) of:** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;**Risk** | &nbsp;&nbsp;&nbsp;**Futures contracts** |
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$(6100757) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48863577 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$42762820** |
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;$(3076863) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27666519 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;**$24589656** |
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(744564) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6502729 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$5758165** |
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;Currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(290167) |
|  | &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225916 |
|  | &nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;**$2935749** |

---

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are wholly owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.

**Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.**

The management fee has two components: (a) a fee on assets invested in affiliated funds (Affiliated Funds Assets) and (b) a fee on assets not invested in affiliated funds (Other Assets). Affiliated funds are any fund of the Trust (excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust), John Hancock Funds II (JHF II) and John Hancock Funds III. Aggregate net assets include the net assets of the portfolios and the net assets of similar funds of the Trust and JHF II.

The rates, outlined below, are applied to the Affiliated Funds Assets and Other Assets of each portfolio.

---

| | | |
|:---|:---|:---|
|  | **First $7.5 billion of aggregate net assets** | **Excess over $7.5 billion of aggregate net assets** |
| Affiliated Funds Assets | 0.050% | 0.040% |
| Other Assets | 0.500% | 0.490% |

---

**Expense reimbursements. The Advisor has voluntarily agreed to waive its management fee or reimburse the portfolios so that the aggregate management fee retained by the Advisor with respect to both the portfolios and the underlying investments does not exceed 0.50% of the portfolios' first $7.5 billion of aggregate daily net assets and 0.49% of the portfolios' aggregate net assets in excess of $7.5 billion. In addition, the Advisor voluntarily agreed to waive its management fees and/or reduce expenses by 0.01% of each portfolio's average net assets. These voluntary waivers may be terminated at any time by the Advisor upon notice to the Trust.**

For the year ended December 31, 2022, the expense reductions described above amounted to the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense reimbursement by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series NAV** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$437732 | &nbsp;&nbsp;&nbsp;&nbsp;$4199298 | &nbsp;&nbsp;&nbsp;&nbsp;$838688 | &nbsp;&nbsp;&nbsp;&nbsp;$5475718 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3968238 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035245 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570336 |

---

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended December 31, 2022, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.10% |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

#### Fees and transactions with affiliates, continued

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Annual Effective Rate** |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;0.09% |

---

**Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended December 31, 2022, amounted to an annual rate of 0.02% of each portfolios' average daily net assets.**

**Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares:**

---

| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rule 12b-1 Fee** |
| Series I | &nbsp;&nbsp;&nbsp;&nbsp;0.15% |
| Series II | &nbsp;&nbsp;&nbsp;&nbsp;0.35% |

---

Currently only 0.05% for Series I shares and 0.25% for Series II shares are charged for 12b-1 fees.

Distribution and service fees for the year ended December 31, 2022 were:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution and service fees by class** |
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series l** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Series ll** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$244613 | &nbsp;&nbsp;&nbsp;&nbsp;$11732778 | &nbsp;&nbsp;&nbsp;&nbsp;$11977391 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8289895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8489761 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2741221 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478503 |

---

**Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.** 

6. Portfolio share transactions

Transactions in portfolios' shares for the years ended December 31, 2022 and 2021 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Growth Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2984326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15439696 |
| Issued in reorganization (Note 10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49740247 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20688808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12840098 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4880461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57921518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6985500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90373670) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2702519)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(34248384)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(980598)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(12353629)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$959213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Issued in reorganization (Note 10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$57641045 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17599553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188720320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8447959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111959398 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(48297668) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(562034353) | &nbsp;&nbsp;&nbsp;&nbsp;(78375846) | &nbsp;&nbsp;&nbsp;&nbsp;(1004293790) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(30620002)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(372354820)** | &nbsp;&nbsp;&nbsp;&nbsp;**(65441495)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(834693347)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12537510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15375759 |
| Issued in reorganization (Note 10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18679577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241604079 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3812191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41176056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23712732 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3334321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39026312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4610087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59821545) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1551276** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$14687254** | &nbsp;&nbsp;&nbsp;&nbsp;**17020706** | &nbsp;&nbsp;&nbsp;&nbsp;**$220871025** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(31771245)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(391915950)** | &nbsp;&nbsp;&nbsp;&nbsp;**(49401387)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(626175951)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Balanced Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5258284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4013738 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21054525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11926210 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(4687107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51341147) | &nbsp;&nbsp;&nbsp;&nbsp;(5827682) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71468953) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(2100704)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(25028338)** | &nbsp;&nbsp;&nbsp;&nbsp;**(4551402)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(55529005)** |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

#### Portfolio share transactions, continued

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Balanced Portfolio, Cont'd** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1451809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$85719 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16973528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168108762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7501059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93058090 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(39924506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(436099427) | &nbsp;&nbsp;&nbsp;&nbsp;(55874499) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(679650596) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(22808067)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(266538856)** | &nbsp;&nbsp;&nbsp;&nbsp;**(48366182)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(586506787)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3499099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6685449 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5916577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59310423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2563135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32156787 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5978105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65438592) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5841110) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71931647) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**254251** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2629070)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2731003)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(33089411)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(24654520)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(294196264)** | &nbsp;&nbsp;&nbsp;&nbsp;**(55648587)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(675125203)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Moderate Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3689042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5397869 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9278308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5306189 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1753009) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18605765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2814639) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33524575) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(435719)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(5638415)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1920323)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(22820517)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2142213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2062232 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5901847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56172680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2723941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32485922 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(14061271) | &nbsp;&nbsp;&nbsp;&nbsp;(147959580) | &nbsp;&nbsp;&nbsp;&nbsp;(17248540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(203873928) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(7955258)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(89644687)** | &nbsp;&nbsp;&nbsp;&nbsp;**(14346101)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(169325774)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2820935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7364190 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3897089 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(745182) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7901209) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1240170) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14641263) |
| **Net increase (decrease)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**254319** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1984596** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(302850)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(3379984)** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(8136658)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(93298506)** | &nbsp;&nbsp;&nbsp;&nbsp;**(16569274)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(195526275)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Managed Volatility Conservative Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-22** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** | &nbsp;&nbsp;&nbsp;&nbsp;**Year Ended 12-31-21** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount** |
| **Series I shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11311610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14356246 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4396341 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(2502774) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25900921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2416337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28684578) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(1098083)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11354819)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(829137)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(9931991)** |
| **Series II shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5259833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5015835 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13926746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19648197 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;(8841447) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91501271) | &nbsp;&nbsp;&nbsp;&nbsp;(11907190) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(139021041) |
| **Net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(6884652)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(72314692)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(9781215)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(114357009)** |
| **Series NAV shares** |  |  |  |  |
| Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3635581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5709925 |
| Distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910753 |
| Repurchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(378336) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4026919) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(397467) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4697703) |
| **Net increase** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**127590** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$1189824** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**250850** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$2922975** |
| **Total net decrease** | &nbsp;&nbsp;&nbsp;&nbsp;**(7855145)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(82479687)** | &nbsp;&nbsp;&nbsp;&nbsp;**(10359502)** | &nbsp;&nbsp;&nbsp;&nbsp;**$(121366025)** |

---

Affiliates of the Trust owned 100% of shares of the portfolios on December 31, 2022. Such concentration of shareholders' capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the year ended December 31, 2022:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sales** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;$848107944 | &nbsp;&nbsp;&nbsp;&nbsp;$959719459 |
| Managed Volatility Balanced Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507139124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716305542 |
| Managed Volatility Moderate Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135401875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216625605 |
| Managed Volatility Conservative Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57383258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130900002 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

8. Investment in affiliated underlying funds

The portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each affiliated underlying funds' net assets. At December 31, 2022, the following portfolios held 5% or more of the net assets of the affiliated underlying funds shown below:

---

| | | |
|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Affiliated Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Percentage of<br> underlying fund<br> net assets** |
| Managed Volatility Growth Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;37.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;35.0% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;24.3% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;22.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;18.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;18.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;17.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;17.0% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;15.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;15.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;15.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;13.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Fundamental Large Cap Core Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| Managed Volatility Balanced Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;23.9% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;23.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;17.2% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;16.4% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Equity Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;14.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Strategic Equity Allocation Trust | &nbsp;&nbsp;&nbsp;&nbsp;13.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Blue Chip Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;10.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Small Cap Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Value Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Mid Cap Growth Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5% |
| Managed Volatility Moderate Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.0% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8% |
| Managed Volatility Conservative Portfolio |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Core Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Select Bond Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7% |

---

9. Investment in affiliated underlying funds

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** | **Managed Volatility Growth Portfolio** |
| Blue Chip Growth | 12433214 | $352690836 | $116618891 | &nbsp;&nbsp;&nbsp;$(37429052) | $(16833605) | $(189632895) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $74021994 | $225414175 |
| Bond | 29551562 | &nbsp;&nbsp;529351860 | &nbsp;&nbsp;&nbsp;&nbsp;23336429 | &nbsp;&nbsp;&nbsp;&nbsp;(69708276) | &nbsp;&nbsp;&nbsp;&nbsp;(3803088) | &nbsp;&nbsp;&nbsp;&nbsp;(85254607) | $16586428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;393922318 |
| Core Bond | 12500153 | &nbsp;&nbsp;184009300 | &nbsp;&nbsp;&nbsp;&nbsp;10017551 | &nbsp;&nbsp;&nbsp;&nbsp;(29594647) | &nbsp;&nbsp;&nbsp;&nbsp;(2788497) | &nbsp;&nbsp;&nbsp;&nbsp;(24392022) | &nbsp;&nbsp;&nbsp;&nbsp;3267551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;137251685 |
| Emerging Markets Equity | 28115829 | &nbsp;&nbsp;331931518 | &nbsp;&nbsp;&nbsp;&nbsp;27416599 | &nbsp;&nbsp;&nbsp;&nbsp;(18108089) | &nbsp;&nbsp;&nbsp;&nbsp;(2768078) | &nbsp;&nbsp;&nbsp;&nbsp;(91896127) | &nbsp;&nbsp;&nbsp;&nbsp;3280671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;246575823 |
| Equity Income | 22431314 | &nbsp;&nbsp;424204823 | &nbsp;&nbsp;&nbsp;&nbsp;43281162 | &nbsp;&nbsp;&nbsp;(105187003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286617 | &nbsp;&nbsp;&nbsp;&nbsp;(52584843) | &nbsp;&nbsp;&nbsp;&nbsp;6094526 | &nbsp;&nbsp;36080768 | &nbsp;&nbsp;310000756 |
| Fundamental Large Cap Core | &nbsp;&nbsp;6563329 | &nbsp;&nbsp;493272282 | &nbsp;&nbsp;&nbsp;&nbsp;44786490 | &nbsp;&nbsp;&nbsp;&nbsp;(51327940) | &nbsp;&nbsp;&nbsp;15854489 | &nbsp;&nbsp;(151381566) | &nbsp;&nbsp;&nbsp;&nbsp;2130958 | &nbsp;&nbsp;20196934 | &nbsp;&nbsp;351203755 |
| John Hancock Collateral Trust | 11790497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 1158848512 | (1040986659) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5940) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(463) | &nbsp;&nbsp;&nbsp;&nbsp;1279045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;117855450 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

#### Investment in affiliated underlying funds, continued

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Mid Cap Growth | &nbsp;&nbsp;11599226 | $121529824 | $68813546 | $(23742148) | &nbsp;&nbsp;&nbsp;$(8967496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(69131635) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$38046914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$88502091 |
| Mid Value | &nbsp;&nbsp;10704965 | &nbsp;&nbsp;&nbsp;142433245 | &nbsp;&nbsp;15789237 | &nbsp;&nbsp;(35284533) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19823761) | &nbsp;&nbsp;&nbsp;&nbsp;$1003701 | &nbsp;&nbsp;&nbsp;&nbsp;12397322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105443905 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;5941153 | &nbsp;&nbsp;&nbsp;224620250 | &nbsp;&nbsp;11899125 | &nbsp;&nbsp;(34267259) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38571508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4918856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167365251 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;5421801 | &nbsp;&nbsp;&nbsp;145079397 | &nbsp;&nbsp;14847591 | &nbsp;&nbsp;&nbsp;&nbsp;(4979690) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29610488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125731565 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;2633526 | &nbsp;&nbsp;&nbsp;169253316 | &nbsp;&nbsp;&nbsp;&nbsp;5185717 | &nbsp;&nbsp;(26700790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8510485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33684428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122564300 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;3707358 | &nbsp;&nbsp;&nbsp;151971238 | &nbsp;&nbsp;&nbsp;&nbsp;3706316 | &nbsp;&nbsp;(19955230) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26245404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113408081 |
| Select Bond Trust | &nbsp;&nbsp;88242204 | 1355230471 | &nbsp;&nbsp;41654551 | (162151653) | &nbsp;&nbsp;&nbsp;(12613224) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211746907) | &nbsp;&nbsp;&nbsp;&nbsp;32965209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8689342 | &nbsp;&nbsp;&nbsp;&nbsp;1010373238 |
| Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;2594431 | &nbsp;&nbsp;&nbsp;&nbsp;54849407 | &nbsp;&nbsp;&nbsp;&nbsp;9194120 | &nbsp;&nbsp;(10575093) | &nbsp;&nbsp;&nbsp;&nbsp;(1544026) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17963310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33961098 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;4846149 | &nbsp;&nbsp;&nbsp;&nbsp;84818601 | &nbsp;&nbsp;17447040 | &nbsp;&nbsp;(19272914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3988057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21993921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573197 | &nbsp;&nbsp;&nbsp;&nbsp;10035930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64986863 |
| Strategic Equity Allocation Trust | 110333837 | 2294907347 | 368506119 | (292722571) | &nbsp;&nbsp;&nbsp;&nbsp;37294814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(730911390) | &nbsp;&nbsp;&nbsp;&nbsp;27998587 | &nbsp;&nbsp;&nbsp;&nbsp;299142058 | &nbsp;&nbsp;&nbsp;&nbsp;1677074319 |
|  |  |  |  |  | **$26950784** | **$(1794825275)** | **$106377713** | **$498611262** | **$5291634673** |
| **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** | **Managed Volatility Balanced Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;7915138 | $227297182 | $72731596 | $(23260327) | &nbsp;&nbsp;$(12306364) | &nbsp;&nbsp;&nbsp;&nbsp;$(120960640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$48175632 | &nbsp;&nbsp;&nbsp;&nbsp;$143501447 |
| Bond | &nbsp;&nbsp;40437410 | &nbsp;&nbsp;&nbsp;720842297 | &nbsp;&nbsp;25778758 | &nbsp;&nbsp;(85727481) | &nbsp;&nbsp;&nbsp;&nbsp;(5102193) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116760708) | &nbsp;&nbsp;&nbsp;&nbsp;$22778757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539030673 |
| Core Bond | &nbsp;&nbsp;17065171 | &nbsp;&nbsp;&nbsp;250047042 | &nbsp;&nbsp;&nbsp;&nbsp;7504735 | &nbsp;&nbsp;(33012206) | &nbsp;&nbsp;&nbsp;&nbsp;(5633173) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31530822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4504735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187375576 |
| Emerging Markets Equity | &nbsp;&nbsp;13617576 | &nbsp;&nbsp;&nbsp;162412942 | &nbsp;&nbsp;10563864 | &nbsp;&nbsp;&nbsp;&nbsp;(7519982) | &nbsp;&nbsp;&nbsp;&nbsp;(1050908) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44979772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119426144 |
| Equity Income | &nbsp;&nbsp;14525410 | &nbsp;&nbsp;&nbsp;274361033 | &nbsp;&nbsp;27436318 | &nbsp;&nbsp;(67001660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33870320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3964676 | &nbsp;&nbsp;&nbsp;&nbsp;23471643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200741171 |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;3851680 | &nbsp;&nbsp;&nbsp;289524868 | &nbsp;&nbsp;23727844 | &nbsp;&nbsp;(27259963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8454458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88343826) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250549 | &nbsp;&nbsp;&nbsp;&nbsp;11852540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206103381 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;7242044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 658399050 | (586006368) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72390026 |
| Mid Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;5011067 | &nbsp;&nbsp;&nbsp;&nbsp;54056377 | &nbsp;&nbsp;29873341 | &nbsp;&nbsp;(11493754) | &nbsp;&nbsp;&nbsp;&nbsp;(5117535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29083989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16838831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38234440 |
| Mid Value | &nbsp;&nbsp;&nbsp;&nbsp;4884647 | &nbsp;&nbsp;&nbsp;&nbsp;65597552 | &nbsp;&nbsp;&nbsp;&nbsp;6415646 | &nbsp;&nbsp;(15882094) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9538464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5656865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48113770 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;2702825 | &nbsp;&nbsp;&nbsp;101622338 | &nbsp;&nbsp;&nbsp;&nbsp;4799932 | &nbsp;&nbsp;(14288790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17470656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76139932 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;2663687 | &nbsp;&nbsp;&nbsp;&nbsp;70821126 | &nbsp;&nbsp;&nbsp;&nbsp;8026235 | &nbsp;&nbsp;&nbsp;&nbsp;(2768688) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14586245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61770902 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1474789 | &nbsp;&nbsp;&nbsp;&nbsp;96063745 | &nbsp;&nbsp;&nbsp;&nbsp;1319161 | &nbsp;&nbsp;(14299108) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4578624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19025742) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68636680 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;1736056 | &nbsp;&nbsp;&nbsp;&nbsp;72140364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643538 | &nbsp;&nbsp;&nbsp;&nbsp;(9046914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12461212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53105953 |
| Select Bond Trust | 120105530 | 1835355675 | &nbsp;&nbsp;57234487 | (211333885) | &nbsp;&nbsp;&nbsp;(21252196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(284795759) | &nbsp;&nbsp;&nbsp;&nbsp;45295094 | &nbsp;&nbsp;&nbsp;&nbsp;11939392 | &nbsp;&nbsp;&nbsp;&nbsp;1375208322 |
| Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;1452468 | &nbsp;&nbsp;&nbsp;&nbsp;30944541 | &nbsp;&nbsp;&nbsp;&nbsp;4864812 | &nbsp;&nbsp;&nbsp;&nbsp;(5955464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(386267) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10454812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19012810 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;3077509 | &nbsp;&nbsp;&nbsp;&nbsp;54668294 | &nbsp;&nbsp;&nbsp;&nbsp;9667546 | &nbsp;&nbsp;(11310828) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2169267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13924885) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41269394 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;61126506 | 1281437978 | 203639102 | (166586926) | &nbsp;&nbsp;&nbsp;&nbsp;15806869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(405174137) | &nbsp;&nbsp;&nbsp;&nbsp;15724956 | &nbsp;&nbsp;&nbsp;&nbsp;168008322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929122886 |
|  |  |  |  |  | **$(14919554)** | **$(1252961820)** | **$102033760** | **$292483865** | **$4179183507** |
| **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** | **Managed Volatility Moderate Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;1920003 | &nbsp;&nbsp;&nbsp;$55131904 | $19916442 | &nbsp;&nbsp;$(7797097) | &nbsp;&nbsp;&nbsp;$(2775559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(29666034) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$11794012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34809656 |
| Bond | &nbsp;&nbsp;13618087 | &nbsp;&nbsp;&nbsp;244794398 | &nbsp;&nbsp;&nbsp;&nbsp;8473583 | &nbsp;&nbsp;(30387789) | &nbsp;&nbsp;&nbsp;&nbsp;(1897222) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39453868) | &nbsp;&nbsp;&nbsp;&nbsp;$7723583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181529102 |
| Core Bond | &nbsp;&nbsp;&nbsp;&nbsp;5753049 | &nbsp;&nbsp;&nbsp;&nbsp;85060033 | &nbsp;&nbsp;&nbsp;&nbsp;2277235 | &nbsp;&nbsp;(11544884) | &nbsp;&nbsp;&nbsp;&nbsp;(2124621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10499280) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63168483 |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  |  | **Dividends and distributions** | **Dividends and distributions** |  |
| **Affiliate** | **Ending<br> share<br> amount** | **Beginning<br> value** | **Cost of<br> purchases** | **Proceeds<br> from shares<br> sold** | **Realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Income<br> distributions<br> received** | **Capital gain<br> distributions<br> received** | **Ending<br> value** |
| Emerging Markets Equity | &nbsp;&nbsp;2634787 | $29863100 | &nbsp;&nbsp;$3408320 | &nbsp;&nbsp;$(1664743) | &nbsp;&nbsp;&nbsp;&nbsp;$(250316) | &nbsp;&nbsp;&nbsp;&nbsp;$(8249275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$303638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$23107086 |
| Equity Income | &nbsp;&nbsp;3704280 | &nbsp;&nbsp;70370499 | &nbsp;&nbsp;&nbsp;&nbsp;7258353 | &nbsp;&nbsp;(17752859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8824022) | &nbsp;&nbsp;&nbsp;&nbsp;1018707 | &nbsp;&nbsp;&nbsp;$6030940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51193151 |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;918332 | &nbsp;&nbsp;68472338 | &nbsp;&nbsp;&nbsp;&nbsp;7383239 | &nbsp;&nbsp;&nbsp;&nbsp;(7902990) | &nbsp;&nbsp;&nbsp;&nbsp;2607621 | &nbsp;&nbsp;&nbsp;&nbsp;(21420274) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298161 | &nbsp;&nbsp;&nbsp;&nbsp;2825927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49139934 |
| John Hancock Collateral Trust | &nbsp;&nbsp;1839735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 156369923 | (137979755) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18389625 |
| Mid Cap Growth | &nbsp;&nbsp;1384440 | &nbsp;&nbsp;15109366 | &nbsp;&nbsp;&nbsp;&nbsp;8549934 | &nbsp;&nbsp;&nbsp;&nbsp;(3461258) | &nbsp;&nbsp;&nbsp;(1699300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7935463) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4700883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563279 |
| Mid Value | &nbsp;&nbsp;1256744 | &nbsp;&nbsp;16542172 | &nbsp;&nbsp;&nbsp;&nbsp;1908175 | &nbsp;&nbsp;&nbsp;&nbsp;(4044369) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2484481) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117833 | &nbsp;&nbsp;&nbsp;&nbsp;1455424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12378930 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;394488 | &nbsp;&nbsp;14999257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816887 | &nbsp;&nbsp;&nbsp;&nbsp;(2362950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2576836) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11112924 |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;418977 | &nbsp;&nbsp;13007045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(833990) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2606845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9716077 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;187918 | &nbsp;&nbsp;12213234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428164 | &nbsp;&nbsp;&nbsp;&nbsp;(2077132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2469977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8745704 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;234083 | &nbsp;&nbsp;&nbsp;&nbsp;9808416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322307 | &nbsp;&nbsp;&nbsp;&nbsp;(1544856) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1727987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7160599 |
| Select Bond Trust | 40501080 | 624449309 | &nbsp;&nbsp;19409333 | &nbsp;&nbsp;(76158851) | &nbsp;&nbsp;&nbsp;(7909335) | &nbsp;&nbsp;&nbsp;&nbsp;(96053094) | &nbsp;&nbsp;&nbsp;15360452 | &nbsp;&nbsp;&nbsp;&nbsp;4048882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463737362 |
| Small Cap Growth | &nbsp;&nbsp;&nbsp;&nbsp;345240 | &nbsp;&nbsp;&nbsp;&nbsp;7169362 | &nbsp;&nbsp;&nbsp;&nbsp;1325376 | &nbsp;&nbsp;&nbsp;&nbsp;(1418113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2530109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4519197 |
| Small Cap Value | &nbsp;&nbsp;&nbsp;&nbsp;627895 | &nbsp;&nbsp;11393562 | &nbsp;&nbsp;&nbsp;&nbsp;1949117 | &nbsp;&nbsp;&nbsp;&nbsp;(2478151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3090512) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78467 | &nbsp;&nbsp;&nbsp;&nbsp;1373859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8420067 |
| Strategic Equity Allocation Trust | 13996543 | 295108430 | &nbsp;&nbsp;49116811 | &nbsp;&nbsp;(41926919) | &nbsp;&nbsp;&nbsp;&nbsp;4088341 | &nbsp;&nbsp;&nbsp;&nbsp;(93639203) | &nbsp;&nbsp;&nbsp;&nbsp;3627829 | &nbsp;&nbsp;&nbsp;38760392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212747460 |
|  |  |  |  |  | **$(7488902)** | **$(333227196)** | **$31009367** | **$70990319** | **$1170438636** |
| **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** | **Managed Volatility Conservative Portfolio** |
| Blue Chip Growth | &nbsp;&nbsp;&nbsp;&nbsp;582450 | $17159208 | &nbsp;&nbsp;$8975139 | &nbsp;&nbsp;$(5303971) | &nbsp;&nbsp;&nbsp;&nbsp;$(709311) | &nbsp;&nbsp;&nbsp;&nbsp;$(9561246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$3648121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10559819 |
| Bond | &nbsp;&nbsp;9940974 | 181367308 | &nbsp;&nbsp;&nbsp;&nbsp;5846026 | &nbsp;&nbsp;(24088386) | &nbsp;&nbsp;&nbsp;(1611227) | &nbsp;&nbsp;&nbsp;&nbsp;(29000543) | &nbsp;&nbsp;&nbsp;$5690938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132513178 |
| Core Bond | &nbsp;&nbsp;4183754 | &nbsp;&nbsp;62824849 | &nbsp;&nbsp;&nbsp;&nbsp;1250749 | &nbsp;&nbsp;&nbsp;&nbsp;(8817244) | &nbsp;&nbsp;&nbsp;(1210482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8110249) | &nbsp;&nbsp;&nbsp;&nbsp;1123666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45937623 |
| Emerging Markets Equity | &nbsp;&nbsp;&nbsp;&nbsp;717443 | &nbsp;&nbsp;&nbsp;&nbsp;8538615 | &nbsp;&nbsp;&nbsp;&nbsp;1199974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(958748) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97420) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2390444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6291977 |
| Equity Income | &nbsp;&nbsp;1123328 | &nbsp;&nbsp;21530004 | &nbsp;&nbsp;&nbsp;&nbsp;2982575 | &nbsp;&nbsp;&nbsp;&nbsp;(6342102) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3279573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310128 | &nbsp;&nbsp;&nbsp;&nbsp;1836017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15524399 |
| Fundamental Large Cap Core | &nbsp;&nbsp;&nbsp;&nbsp;253993 | &nbsp;&nbsp;19113742 | &nbsp;&nbsp;&nbsp;&nbsp;3534210 | &nbsp;&nbsp;&nbsp;&nbsp;(3851593) | &nbsp;&nbsp;&nbsp;&nbsp;1031817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6237001) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13591175 |
| John Hancock Collateral Trust | &nbsp;&nbsp;&nbsp;&nbsp;784155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;64996587 | &nbsp;&nbsp;(57158334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838254 |
| Multifactor Developed International ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(381938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Multifactor Emerging Markets ETF | &nbsp;&nbsp;&nbsp;&nbsp;111353 | &nbsp;&nbsp;&nbsp;&nbsp;3569423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(461426) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(720051) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582276 |
| Multifactor Mid Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;189293 | &nbsp;&nbsp;11398396 | &nbsp;&nbsp;&nbsp;&nbsp;1113159 | &nbsp;&nbsp;&nbsp;&nbsp;(2002645) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2338394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8809696 |
| Multifactor Small Cap ETF | &nbsp;&nbsp;&nbsp;&nbsp;227392 | &nbsp;&nbsp;&nbsp;&nbsp;8537238 | &nbsp;&nbsp;&nbsp;&nbsp;1110217 | &nbsp;&nbsp;&nbsp;&nbsp;(1449258) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1577450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955921 |
| Select Bond Trust | 29482399 | 461361476 | &nbsp;&nbsp;14850933 | &nbsp;&nbsp;(61845937) | &nbsp;&nbsp;&nbsp;(6671533) | &nbsp;&nbsp;&nbsp;&nbsp;(70121468) | &nbsp;&nbsp;&nbsp;11312627 | &nbsp;&nbsp;&nbsp;&nbsp;2981910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337573471 |
| Strategic Equity Allocation Trust | &nbsp;&nbsp;3790424 | &nbsp;&nbsp;80224383 | &nbsp;&nbsp;15831662 | &nbsp;&nbsp;(14064567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264354 | &nbsp;&nbsp;&nbsp;&nbsp;(24641382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986326 | &nbsp;&nbsp;&nbsp;10538089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57614450 |
|  |  |  |  |  | **$(7324518)** | **$(158069437)** | **$19911862** | **$19777237** | &nbsp;&nbsp;&nbsp;**$645792239** |

---

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

10. Reorganization

On April 6, 2021, the shareholders of Managed Volatility Aggressive Portfolio (the Acquired Portfolio) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Managed Volatility Growth Portfolio (the Acquiring Portfolio) with a value equal to the net assets transferred.

The Agreement provided for (a) the acquisition of all the assets, subject to all the liabilities, of the Acquired Portfolio in exchange for shares of the Acquiring Portfolio with a value equal to the net assets transferred; (b) the liquidation of the Acquired Portfolio; and (c) the distribution to Acquired Portfolio's shareholders of such Acquiring Portfolio's shares. The reorganization was intended to achieve a more consistent long-term performance record and stronger prospects for growth and achieve potential opportunities for economies of scale. As a result of the reorganization, the Acquiring Portfolio is the legal and accounting survivor.

The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Portfolio or its shareholders. Thus, the investments were transferred to the Acquiring Portfolio at the Acquired Portfolio's identified cost. All distributable amounts of net income and realized gains from the Acquired Portfolio were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Advisor and the Acquired Portfolio. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on April 23, 2021. The following outlines the reorganization:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Acquiring<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Net Asset<br> Value of the<br> Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Appreciation<br> of the<br> Acquired<br> Portfolio's<br> Investments** | &nbsp;&nbsp;&nbsp;**Shares<br> Redeemed<br> by the<br> Acquired<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Shares<br> Issued<br> by the<br> Acquiring<br> Portfolio** | &nbsp;&nbsp;&nbsp;**Acquiring<br> Portfolio<br> Net Assets<br> Prior to<br> Combination** | &nbsp;&nbsp;&nbsp;**Acquiring<br> Portfolio<br> Total Net<br> Assets After<br> Combination** |
| Managed Volatility Growth Portfolio | &nbsp;&nbsp;&nbsp;Managed Volatility Aggressive Portfolio | &nbsp;&nbsp;&nbsp;$348985371 | &nbsp;&nbsp;&nbsp;$56251540 | &nbsp;&nbsp;&nbsp;32140529 | &nbsp;&nbsp;&nbsp;27018950 | &nbsp;&nbsp;&nbsp;$7295547690 | &nbsp;&nbsp;&nbsp;$7644533061 |

---

See Note 6 for capital shares issued in connection with the above referenced reorganization.

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

John Hancock Variable Insurance Trust

------

#### Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of Managed Volatility Balanced Portfolio, Managed Volatility Conservative Portfolio, Managed Volatility Growth Portfolio and Managed Volatility Moderate Portfolio**

#### Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolios' investments, of John Hancock Managed Volatility Balanced Portfolio, John Hancock Managed Volatility Conservative Portfolio, John Hancock Managed Volatility Growth Portfolio and John Hancock Managed Volatility Moderate Portfolio (four of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Portfolios") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Portfolios as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinions
These financial statements are the responsibility of the Portfolios' management. Our responsibility is to express an opinion on the Portfolios' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolios in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

February 21, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Special shareholder meeting

------

(Unaudited)

The portfolios held a Special Joint Meeting of Shareholders on Friday, September 9, 2022. The following proposals were considered by the shareholders:

#### Proposal 1: To elect eight Trustees as members of the Board of Trustees of the Trust.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes<br> for the nominee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total votes withheld<br> from the nominee** |
| **Independent Trustees** |  |  |
| James R. Boyle | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312220638.454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31482911.803 |
| Noni L. Ellison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6307344100.566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36359449.691 |
| Dean C. Garfield | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306606071.373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37097478.884 |
| Patricia Lizarraga | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311739137.777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31964412.480 |
| Frances G. Rathke | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6311903223.239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31800327.018 |
| **Non-Independent Trustees** |  |  |
| Andrew G. Arnott | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312916296.440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30787253.817 |
| Marianne Harrison | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6309699822.026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34003728.231 |
| Paul Lorentz | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312826931.728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30876618.529 |

---

**Proposal 2: To approve an amendment to the Declaration of Trust increasing the amount of time permitted between a record date and a shareholder meeting.**

THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6243364216.560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.419% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.460% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42739643.197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.674% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.667% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57599690.500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.907% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.899% |

---

#### Proposal 3 : To approve an amendment to the Declaration of Trust modifying certain amendment filing requirements.
THE PROPOSAL <u>PASSED</u> ON September 9, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares<br> voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> shares voted** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**% Of<br> outstanding<br> shares** |
| **For** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6232979077.490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.255% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.298% |
| **Against** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44982081.873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.709% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.702% |
| **Abstain/Withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65742390.894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.036% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.026% |

---

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.

---

| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Hassell H. McClellan, Born: 1945** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2005** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee and Chairperson of the Board* |  |  |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. | Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| **James R. Boyle, Born: 1959** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2015** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). | Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| **William H. Cunningham,<sup>2</sup> Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *Trustee* |  |  |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). | Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| **Noni L. Ellison,<sup>\*</sup> Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children's Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Grace K. Fey, Born: 1946** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2008** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**186** |
| *Trustee* |  |  |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Dean C. Garfield,<sup>\*</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Deborah C. Jackson, Born: 1952** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**185** |
| *Trustee* |  |  |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women's Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| **Patricia Lizarraga,<sup>2,\*</sup> Born: 1966** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |
| **Steven R. Pruchansky, Born: 1944** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee and Vice Chairperson of the Board* |  |  |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. | Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |

---

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

---

| | | |
|:---|:---|:---|
| **INDEPENDENT TRUSTEES (continued)** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Frances G. Rathke,<sup>2</sup> Born: 1960** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). | Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
| **Gregory A. Russo, Born: 1949** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Trustee* |  |  |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). | Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |

---

---

| | | |
|:---|:---|:---|
| **NON-INDEPENDENT TRUSTEES<sup>3</sup>** |  |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s) and other<br> directorships during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trustee<br> of the<br> Trust<br> since<sup>1</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Number of John<br> Hancock funds<br> overseen by<br> Trustee** |
| **Andrew G. Arnott, Born: 1971** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2017** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**184** |
| *President and Non-Independent Trustee* |  |  |
| Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). | Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| **Marianne Harrison, Born: 1963** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). | President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary's General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| **Paul Lorentz,<sup>†</sup> Born: 1968** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**183** |
| *Non-Independent Trustee* |  |  |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). | Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022). |

---

---

| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Charles A. Rizzo, Born: 1957** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2007** |
| *Chief Financial Officer* |  |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). | Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| **Salvatore Schiavone, Born: 1965** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2012** |
| *Treasurer* |  |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). | Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |

---

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### Trustees and officers Information

------

---

| | |
|:---|:---|
| **PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES (continued)** |  |
| **Name, year of birth<br> Position(s) held with Trust<br> Principal occupation(s)<br> during past 5 years** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Position(s)<br> with the<br> Trust<br> since** |
| **Christopher (Kit) Sechler, Born: 1973** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2018** |
| *Secretary and Chief Legal Officer* |  |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). | Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| **Trevor Swanberg, Born: 1979** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2020** |
| *Chief Compliance Officer* |  |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). | Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |

---

The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.

The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-344-1029.

---

| | |
|:---|:---|
| <sup>1</sup> | Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee's death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| <sup>2</sup> | Member of the Audit Committee. |
| <sup>3</sup> | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| <sup>\*</sup> | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| <sup>†</sup> | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |

---

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

## John Hancock Variable Insurance Trust

#### For more information

------

The Statement of Additional Information, a separate document with supplemental information not contained in the prospectus, includes additional information on the Board of Trustees and can be obtained without charge by calling 800-344-1029 or on the Securities and Exchange Commission (SEC) website at www.sec.gov.

**PROXY VOTING POLICY A description of the trust's proxy voting policies and procedures and information regarding how the trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available without charge, upon request, by calling 800-344-1029 or on the SEC website at www.sec.gov.**

**QUARTERLY PORTFOLIO DISCLOSURE All of each fund's holdings as of the end of the third month of every ﬁscal quarter are ﬁled with the SEC on Form N-PORT within 60 days of the end of the ﬁscal quarter. Each fund's Form N-PORT filings are available on the SEC's website, www.sec.gov.**

The report is certiﬁed under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to afﬁrm that, to the best of their knowledge, the information in their ﬁnancial reports is fairly and accurately stated in all material respects.

------

[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

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[**Table of Contents**](#JOB_JHVIT_250ebd75-3ee8-4954-a4f9-c1bd1f138075_TOC)

![](img75bda41b1.gif)

Information Control Center

P.O. Box 772

Boston, MA 02117-0772

#### More information

#### Trustees
Hassell H. McClellan, *Chairperson* Steven R. Pruchansky, *Vice Chairperson* Andrew G. Arnott<sup>†</sup>

James R. Boyle

William H. Cunningham

<sup>\*</sup>Noni L. Ellison<sup>^</sup>

Grace K. Fey

Dean C. Garfield<sup>^</sup>

Marianne Harrison<sup>†</sup>

Deborah C. Jackson

Patricia Lizarraga

<sup>\*,^</sup>Paul Lorentz<sup>‡</sup>

Frances G. Rathke<sup>\*</sup>

Gregory A. Russo

#### Officers
Andrew G. Arnott, *President* Charles A. Rizzo, *Chief Financial Officer* Salvatore Schiavone, *Treasurer* Christopher (Kit) Sechler, *Secretary and Chief Legal Officer* Trevor Swanberg, *Chief Compliance Officer*

<sup>†</sup> Non-Independent Trustee <br> \* Member of the Audit Committee

<sup>^</sup> Elected to serve as Independent Trustee effective as of September 9, 2022.

<sup>‡</sup> Elected to serve as Non-Independent Trustee effective as of September 9, 2022.

#### Investment advisor
John Hancock Variable Trust Advisers LLC

#### Principal distributor
John Hancock Distributors, LLC

JHTLA 12/31

2/23

1115018:1222

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**American Funds<br> Insurance Series<sup>®</sup>**<br>Annual report <br> for the year ended <br> December 31, 2022 | ![](x1_c105652x1x2.jpg) |

---

![](x1_c105652x1x1.jpg)

**Investing in global companies for the long term**

American Funds Insurance Series, by Capital Group, is the underlying investment vehicle for many variable annuities and insurance products. For over 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.

**Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries. Investing in small-capitalization stocks can involve greater risk than is customarily associated with investing in stocks of larger, more established companies. The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. High-yield bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade bonds. Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional cash securities, such as stocks and bonds. Hedge instruments, including exchange-traded futures contracts and exchange-traded put options, may not provide an effective hedge of the underlying securities because changes in the prices of such instruments may not track those of the securities they are intended to hedge. In addition, the managed risk strategy may not effectively protect the funds from market declines and will limit the funds' participation in market gains. The use of the managed risk strategy could cause the funds' returns to lag those of the underlying funds in certain market conditions. Refer to the funds' prospectuses and the Risk Factors section of this report for more information on these and other risks associated with investing in the funds.

**Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.**

Contents

---

| | |
|:---|:---|
| 1 | [Letter to investors](#x1_c105652a001) |
| 4 | [Fund reviews](#x1_c105652a002) |
|  | **Investment portfolios** |
| 46 | [Global Growth Fund](#x1_c105652a003) |
| 51 | [Global Small Capitalization Fund](#x1_c105652a004) |
| 58 | [Growth Fund](#x1_c105652a005) |
| 65 | [International Fund](#x1_c105652a006) |
| 70 | [New World Fund<sup>®</sup>](#x1_c105652a007) |
| 84 | [Washington Mutual Investors Fund](#x1_c105652a008) |
| 89 | [Capital World Growth and Income Fund<sup>®</sup>](#x1_c105652a009) |
| 97 | [Growth-Income Fund](#x1_c105652a010) |
| 103 | [International Growth and Income Fund](#x1_c105652a011) |
| 109 | [Capital Income Builder<sup>®</sup>](#x1_c105652a012) |
| 127 | [Asset Allocation Fund](#x1_c105652a013) |
| 160 | [American Funds<sup>®</sup> Global Balanced Fund](#x1_c105652a014) |
| 176 | [The Bond Fund of America<sup>®</sup>](#x1_c105652a015) |
| 206 | [Capital World Bond Fund<sup>®</sup>](#x1_c105652a016) |
| 226 | [American High-Income Trust<sup>®</sup>](#x1_c105652a017) |
| 245 | [American Funds Mortgage Fund<sup>®</sup>](#x1_c105652a018) |
| 252 | [Ultra-Short Bond Fund](#x1_c105652a019) |
| 254 | [U.S. Government Securities Fund<sup>®</sup>](#x1_c105652a020) |
| 263 | [Managed Risk Growth Fund](#x1_c105652a021) |
| 265 | [Managed Risk International Fund](#x1_c105652a022) |
| 267 | [Managed Risk Washington Mutual Investors Fund](#x1_c105652a023) |
| 269 | [Managed Risk Growth-Income Fund](#x1_c105652a024) |
| 271 | [Managed Risk Asset Allocation Fund](#x1_c105652a025) |
| 273 | [Financial statements](#x1_c105652a026) |

---

Fellow investors:

It is our pleasure to present the annual report for American Funds Insurance Series<sup>®</sup> for the year ended December 31, 2022.

Regarding the investment environment, global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index<sup>1</sup>. Communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

U.S. equities had their worst year since 2008 as the S&P 500 Index<sup>2</sup> fell 18.11%. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. On the upside, energy was the top S&P 500 sector for the second straight year, climbing 66%. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

European stocks declined as record-high inflation, rising interest rates and the Ukraine invasion combined to hammer the eurozone economy. Gross domestic product growth in the 19-member eurozone decelerated throughout the year, falling to 0.3% in the third quarter from 0.6% in the first quarter. Political turmoil also weighed on markets amid contentious leadership changes in Italy and the United Kingdom. Despite a strong fourth-quarter rally in European stocks, the MSCI Europe Index<sup>3</sup> finished the full year down by 15.06%.

Emerging markets stocks tumbled, undercut by China's economic slowdown, interest rate hikes and the growing strength of the U.S. dollar. Rising inflation in developing countries that spurred monetary tightening, as well as rolling lockdowns in China to suppress COVID-19, also weighed on equity prices. Overall, the MSCI Emerging Markets Index<sup>4</sup> slid 20.09%.

Bonds fell in the face of rising inflation, and the Federal Reserve hiked its policy rate 425 basis points over seven policy meetings in an attempt to tame it. The Bloomberg U.S. Treasury Index<sup>5</sup> lost 12.46% in one of the worst bond market

Past results are not predictive of results in future periods.

All market returns referenced in this report are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. Country returns are based on MSCI indexes, which reflect reinvestment of distributions and dividends net of withholding taxes. Source: MSCI.

<sup>1</sup> Source: MSCI. MSCI ACWI is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes. Results reflect dividends net of withholding taxes.

<sup>2</sup> Source: S&P Dow Jones Indices LLC. S&P 500 Index is a market capitalization-weighted index based on the results of approximately 500 widely held common stocks.

<sup>3</sup> Source: MSCI. MSCI Europe Index is a free float-adjusted market capitalization-weighted index that is designed to measure results of more than 10 developed equity markets in Europe. Results reflect dividends net of withholding taxes.

<sup>4</sup> Source: MSCI. MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results in the global emerging markets, consisting of more than 20 emerging market country indexes. Results reflect dividends net of withholding taxes.

<sup>5</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Treasury Index measures the performance of public obligations of the U.S. Treasury.

American Funds Insurance Series 1

declines in history. The Federal Reserve and European Central Bank, among others, aggressively raised interest rates in an attempt to bring inflation back to a target of roughly 2%, down from 7% to 10% in many economies. U.S. Treasury yields rose across the curve, which ended the year inverted as shorter dated bonds sold off sharply. The 10-year Treasury yield rose 237 basis points to 3.88%. In this environment, investment-grade (BBB/ Baa and above) corporate bonds saw the worst returns. The Bloomberg U.S. Corporate Investment Grade Index<sup>6</sup> was down 15.76%, and spreads widened by 38 basis points. Elsewhere, the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index<sup>7</sup> fell by 11.18%, while the Bloomberg Municipal Bond Index<sup>8</sup> declined 8.53%.

In foreign exchange markets a strong U.S. dollar grew stronger for much of the year, particularly as the Fed raised rates at a faster pace than some other central banks, though there was some reversal of its strength in the last two months of the year. The dollar posted gains of 6.6% and 14.6% against the euro and the yen, respectively.

**Looking ahead**

Big questions remain about how the U.S. economy will do in 2023. It is possible that the delayed impact of higher rates will keep growth slow, or even cause a mild recession. However, we have confidence in the long-term trajectory of the economy, and the stock market has likely digested much of the potential bad news already, given the decline this year. Investors have reason for hope, as we've already taken a measure of pain, in both stocks and bonds. Inflation may persist above the levels we've been used to the past decade, but is likely to gently decline over the coming year from the 6.5% mark, published in January 2023. That would be good news on its own, and would also lighten the upward pressure we've seen on interest rates this past year. The global negative impact of COVID-19 has already persisted longer than anyone predicted back in early 2020, but should also decline with time, particularly as China has decided to end lockdowns. That will eventually help economic growth.

Thus, as 2023 progresses we may see, out of many fears, a reason for optimism. The ongoing war in Ukraine remains a wild card, and we hope it does not spill over into a larger conflict. That may be the biggest risk to a mildly positive outlook for stocks. There can still be bumps in the road, but with our world-class research, we will continue to focus on finding those companies with the best fundamentals and the best risk-versus-return tradeoffs. We believe that we will find plenty of attractive securities for the long term in this environment. In the event of periods of volatility, we remain committed to our process, and will look for opportunities at that time as well.

Our time-tested process is based on extensive research, a long-term framework and close attention to valuation, and has resulted in superior outcomes for investors over time. As always, we thank you for your continued support of our efforts and we look forward to reporting to you again in six months.

Sincerely,

![](x1_c105652x4x1.jpg)

Donald D. O'Neal

Co-President

![](x1_c105652x4x2.jpg)

Alan N. Berro

Co-President

February 13, 2023

Past results are not predictive of results in future periods.

<sup>6</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate Investment Grade Index represents the universe of investment-grade, publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity and quality requirements.

<sup>7</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%.

<sup>8</sup> Source: Bloomberg Index Services Ltd. Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market.

2 American Funds Insurance Series

About the series

Unless otherwise indicated, American Funds Insurance Series investment results are for Class 1 shares (Class P1 shares for managed risk funds). Class 1A shares began operations on January 6, 2017. Class 2 shares began operations on April 30, 1997. Class 3 shares began operations on January 16, 2004. Class 4 shares began operations on December 14, 2012. Results encompassing periods prior to those dates assume a hypothetical investment in Class 1 shares and include the deduction of additional annual expenses (0.25% for Class 1A shares, 0.25% for Class 2 shares, 0.18% for Class 3 shares and 0.50% for Class 4 shares).

The variable annuities and life insurance contracts that use the series' funds contain certain fees and expenses not reflected in this report. Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower. Visit capitalgroup.com/afis for more information.

The investment adviser is currently waiving a portion of its management fee for Global Growth Fund, Global Small Capitalization Fund, New World Fund, Washington Mutual Investors Fund, Capital World Growth and Income Fund, International Growth and Income Fund, Capital Income Builder, American Funds Global Balanced Fund, The Bond Fund of America, Capital World Bond Fund, American High-Income Trust, American Funds Mortgage Fund and U.S. Government Securities Fund. The waivers will be in effect through at least May 1, 2023. The waivers may only be modified or terminated with the approval of the series' board. Applicable fund results shown reflect the waivers, without which results would have been lower. Refer to the Financial Highlights tables in this report for details.

For the managed risk funds, the investment adviser is currently waiving a portion of its management fee equal to 0.05% of each fund's net assets. In addition, the investment adviser is currently reimbursing a portion of other expenses for Managed Risk International Fund. The waivers and reimbursement will be in effect through at least May 1, 2023, unless modified or terminated by the series' board. After that time, the investment adviser may elect to extend, modify or terminate the reimbursement. The waivers may only be modified or terminated with the approval of the series' board. Applicable fund results shown reflect the waivers and reimbursement, without which results would have been lower. Refer to the Financial Highlights tables in this report for details.

The Managed Risk Growth Fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup> — Growth Fund and American Funds Insurance Series<sup>®</sup> — The Bond Fund of America. The Managed Risk International Fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup> — International Fund and American Funds Insurance Series<sup>®</sup> — The Bond Fund of America. The Managed Risk Washington Mutual Investors Fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup> — Washington Mutual Investors Fund and American Funds Insurance Series<sup>®</sup> — U.S. Government Securities Fund. The Managed Risk Growth-Income Fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup> — Growth-Income Fund and American Funds Insurance Series<sup>®</sup> — The Bond Fund of America. The Managed Risk Asset Allocation Fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup> — Asset Allocation Fund. The funds seek to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded futures. The benefit of the funds' managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the funds' results can be expected to lag those of the underlying fund.

Funds are listed in the report as follows: equity, balanced, fixed income and managed risk.

American Funds Insurance Series 3

Global Growth Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Global Growth Fund declined 24.54% for the 12 months ended December 31, 2022, compared with a decrease of 18.36% in its benchmark index, MSCI ACWI (All Country World Index),<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI ACWI. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Within the fund, stock selection in the consumer discretionary sector was the top contributor to relative returns. A larger-than-index position in health care firm Cigna was among the top individual contributors to the fund, with returns that outpaced the broader market. On the downside, stock selections within the information technology sector weighed on results. Netherlands-based payments firm Adyen was among the top individual detractors, with returns that lagged the broader market in a weak sector overall.

On a geographic basis, stocks of companies domiciled in Hong Kong and France were among the top contributors to results, while stocks of companies based in the United States and the Netherlands were among the top detractors.

The fund's portfolio managers are optimistic they will continue to find good companies globally that offer high-quality products and services, and whose values are not yet fully reflected in their share prices.

4 American Funds Insurance Series

Global Growth Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x7x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since April 30, 1997) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –24.54% | 7.33% | 10.43% | 9.57%&nbsp;&nbsp;&nbsp;&nbsp; | 0.52%&nbsp;&nbsp;&nbsp;&nbsp; | 0.41%&nbsp;&nbsp;&nbsp;&nbsp; |
| Class 1A | –24.73 | 7.07 | 10.16 | 9.30 | 0.77 | 0.66 |
| Class 2 | –24.74 | 7.06 | 10.15 | 9.30 | 0.77 | 0.66 |
| Class 4 | –24.92 | 6.80 | 9.92 | 9.04 | 1.02 | 0.91 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index results reflect dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x7x2.jpg)

American Funds Insurance Series 5

Global Small Capitalization Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Global Small Capitalization Fund declined 29.37% for the 12 months ended December 31, 2022. Its benchmark, the MSCI All Country World Small Cap Index,<sup>1</sup> a free float-adjusted market capitalization-weighted index designed to measure equity market results of smaller capitalization companies in both developed and emerging markets, declined 18.67%.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Regarding the fund, stock selection within the health care sector was a positive contributor to relative returns. A larger-than-index investment in medical technology firm Haemonetics was among the fund's top individual contributors over the period. On the downside, stock selection within the information technology sector weighed on returns. Within individual securities, India-based cloud platform provider Tanla Platforms was a top detractor, as its stock lagged the broader market.

Geographically, investments in companies domiciled in Hong Kong and Korea were overall additive to returns, while investments in those domiciled in China and the United States were detractors, overall.

In a turbulent year for markets across the board, the fund's results for the past 12 months have been disappointing. However, with analysts' full-time return to the road after COVID-19-related pauses, fund managers remain confident in the primary research capabilities underpinning investment decisions, and optimistic for the outlook ahead. While cognizant of the possibility of recession in the short term, managers remain committed to investing in companies with long-term potential.

6 American Funds Insurance Series

Global Small Capitalization Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x9x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since April 30, 1998) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –29.37% | 3.05% | 7.10% | 8.39%&nbsp;&nbsp;&nbsp;&nbsp; | 0.70%&nbsp;&nbsp;&nbsp;&nbsp; | 0.66%&nbsp;&nbsp;&nbsp;&nbsp; |
| Class 1A | –29.54 | 2.80 | 6.84 | 8.13 | 0.95 | 0.91 |
| Class 2 | –29.55 | 2.79 | 6.84 | 8.13 | 0.95 | 0.91 |
| Class 4 | –29.69 | 2.54 | 6.58 | 7.86 | 1.20 | 1.16 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index results reflect dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x9x2.jpg)

American Funds Insurance Series 7

Growth Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Growth Fund declined 29.75% for the 12 months ended December 31, 2022, compared with a decrease of 18.11% in its benchmark index, S&P 500 Index,<sup>1</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks.

U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. S&P 500 Index entered its first bear market since 2020. Energy was the top S&P 500 sector for the second straight year, climbing 66%. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

Regarding the fund, stock selection within the materials sector was the top contributor to relative returns. A position in energy industry firm Halliburton buoyed results as its stock outpaced the broader industry. On the downside, investments within the communication services sector weighed on results. A position in Tesla was the top individual detractor to returns.

The overall uncertain economic environment and challenges of inflation are very real concerns. The fund's managers believe it is well-positioned for the road ahead and continue to focus on capital appreciation and selecting companies best suited for this challenging economic environment. Portfolio managers remain confident their time-tested investment approach, based on thorough research and robust debate with an eye on valuation, can continue to deliver superior outcomes for investors over the long-term.

8 American Funds Insurance Series

Growth Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x11x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since February 8, 1984) | **Expense<br>ratio** |
| Class 1 | –29.75% | 11.42% | 13.93% | 12.65%&nbsp;&nbsp;&nbsp;&nbsp; | 0.34% |
| Class 1A | –29.93 | 11.14 | 13.65 | 12.37 | 0.59 |
| Class 2 | –29.94 | 11.14 | 13.64 | 12.37 | 0.59 |
| Class 3 | –29.89 | 11.22 | 13.72 | 12.45 | 0.52 |
| Class 4 | –30.11 | 10.86 | 13.38 | 12.09 | 0.84 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: S&P Dow Jones Indices LLC. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x11x2.jpg)

American Funds Insurance Series 9

International Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

International Fund declined 20.57% for the 12 months ended December 31, 2022. Its benchmark index, MSCI ACWI (All Country World Index) ex USA,<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes, excluding the U.S.), fell 16.00%.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Within the portfolio, stock selection within the energy sector boosted relative returns. Within individual securities, a higher-than-index position in Petroleo Brasileiro was a top contributor as the stock significantly outpaced the market overall. On the downside, stock selection within the information technology sector dragged on returns. A larger-than-index position in South Korean chipmaker SK Hynix was among the top individual detractors.

Looking ahead, the market continues to focus on global inflation levels as a key determinant for interest-rate and asset-price movement. There are signs that the worst of the inflation surge, due in part to rising oil prices and supply-chain issues during the COVID-19 pandemic, seems to be behind us. However, there is still uncertainty about how wage increases – as seen in many developed markets – could impact the continuation of high inflation. As a result of tighter monetary conditions, economies around the world are seeing growth moderate. Meanwhile, contributors to a turbulent macro environment in 2022, such as the war in Ukraine and U.S.-China tensions, have not subsided. In this uncertain environment, the fund's managers endeavor to maintain a portfolio with a healthy balance of well-managed companies across sectors.

10 American Funds Insurance Series

International Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x13x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since May 1, 1990) | **Expense<br>ratio** |
| Class 1 | –20.57% | –0.78% | 4.18% | 7.07% | 0.53% |
| Class 1A | –20.80 | –1.03 | 3.92 | 6.80 | 0.78 |
| Class 2 | –20.79 | –1.03 | 3.92 | 6.80 | 0.78 |
| Class 3 | –20.76 | –0.97 | 3.98 | 6.87 | 0.71 |
| Class 4 | –21.02 | –1.29 | 3.67 | 6.54 | 1.03 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index result reflects dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x13x2.jpg)

American Funds Insurance Series 11

New World Fund<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

New World Fund was down 21.86% for the 12 months ended December 31, 2022. Its benchmark index, MSCI ACWI (All Country World Index),<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes), declined 18.36%. The MSCI Emerging Markets (EM) Index,<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global emerging markets (consisting of more than 20 emerging market country indexes), fell by 20.09%.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Emerging markets stocks tumbled, undercut by China's economic slowdown, the Federal Reserve's aggressive interest rate hikes and the growing strength of the U.S. dollar. Rising inflation in developing countries that spurred monetary tightening, as well as rolling lockdowns in China to suppress COVID-19, also weighed on equity prices. However, a few countries, including Brazil, were able to separate from the group by benefiting from some stronger fundamentals.

Within the portfolio, a higher-than-benchmark position in the materials sector was beneficial to the fund's relative returns. Brazilian mining company Vale was a top individual contributor, as its stock saw returns that outpaced the broader market. Indian energy company Reliance Industries was also a relative contributor. On the downside, stock selection within the health care sector dragged on relative returns. Among individual securities, a larger-than-benchmark position in Singapore-based Sea Ltd. was a top detractor to results.

The investment environment has become much more challenging over the last year, with a wide range of uncertainties affecting equity prices – including global shifts in monetary policy, elevated geopolitical tensions and the potential for widespread recession. The portfolio managers believe the fund's flexibility in seeking investments in both the developed world and emerging markets will provide significant opportunities in these periods of volatility. They remain confident that on-the-ground research, a cornerstone of their investment process, will provide highly differentiated investment insights leading to potentially superior outcomes over the long term.

12 American Funds Insurance Series

New World Fund<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x15x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since June 17, 1999) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –21.86% | 2.58% | 4.53% | 7.45% | 0.64% | 0.57% |
| Class 1A | –22.09 | 2.32 | 4.27 | 7.18 | 0.89 | 0.82 |
| Class 2 | –22.10 | 2.32 | 4.27 | 7.18 | 0.89 | 0.82 |
| Class 4 | –22.25 | 2.07 | 4.02 | 6.92 | 1.14 | 1.07 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index result reflects dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x15x2.jpg)

American Funds Insurance Series 13

Washington Mutual Investors Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Washington Mutual Investors Fund declined 8.28% for the 12 months ended December 31, 2022. Its benchmark index, S&P 500 Index,<sup>1</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, fell by 18.11%.

U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. S&P 500 Index entered its first bear market since 2020. Energy was the top S&P 500 sector for the second straight year, climbing 66%. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

Regarding the fund, stock selections in the consumer discretionary and information technology sectors were additive to relative returns. Among individual securities, a higher-than-benchmark position in Unitedhealth Group was a top contributor, as the stock outpaced the broader market. On the downside, security selections within the financials and real estate sectors were top detractors. A lower-than-index position in Exxon Mobil weighed on relative returns as the stock outpaced the market overall.

Looking ahead, the fund's portfolio managers are keeping a close watch on monetary policy, inflation, and other global issues, along with the resulting implications for the U.S. economy. Portfolio managers continue to favor well-managed, high-quality companies that are capable of paying dividends in myriad economic environments. We remain optimistic that this focus, supported by our global research, will help us to identify attractive long-term investment opportunities.

14 American Funds Insurance Series

Washington Mutual Investors Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x17x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since July 5, 2001) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –8.28% | 7.37% | 11.57% | 6.97% | 0.40% | 0.25% |
| Class 1A | –8.45 | 7.11 | 11.30 | 6.71 | 0.65 | 0.50 |
| Class 2 | –8.45 | 7.11 | 11.30 | 6.70 | 0.65 | 0.50 |
| Class 4 | –8.69 | 6.84 | 11.08 | 6.47 | 0.90 | 0.75 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: S&P Dow Jones Indices LLC. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x17x2.jpg)

American Funds Insurance Series 15

Capital World Growth and Income Fund<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Capital World Growth and Income Fund declined 17.13% for the 12 months ended December 31, 2022, compared with a decline of 18.36% in its benchmark index, MSCI ACWI (All Country World Index),<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Within the portfolio, a higher-than-index position and stock selection within the materials sector was a top contributor to relative returns. Results were also buoyed by holdings in Vale, a Brazil-based mining company, which saw returns over the period that outpaced the broader market. On the downside, stock selection within the communication services and financials sectors were among the top detractors to returns. A position in Sberbank Russia weighed on returns as the stock saw sharp declines due to Russia's invasion of Ukraine and related consequences.

On a geographical basis, stocks domiciled in the United States and Brazil contributed the most to relative returns, while holdings in Japan and Russia dragged.

Looking ahead, the market continues to focus on global inflation levels as a key determinant for interest-rate and asset-price movement. There are signs that the worst of the inflation surge, due in part to rising oil prices and supply-chain issues during the COVID-19 pandemic, seems to be behind us. However, there is still uncertainty about how wage increases – as seen in many developed markets – could impact the continuation of high inflation. As a result of tighter monetary conditions, economies around the world are seeing growth moderate. Meanwhile, contributors to a turbulent macro environment in 2022, such as the war in Ukraine and U.S.-China tensions, have not subsided. Against this uncertainty, the fund's managers remain committed to finding companies that can grow regardless of macro environment and investing in those that have shown a strong tendency to pay a dividend through difficult economic conditions.

16 American Funds Insurance Series

Capital World Growth and Income Fund<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x19x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since May 1, 2006) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –17.13% | 4.36% | 8.04% | 6.40% | 0.53% | 0.42% |
| Class 1A | –17.29 | 4.10 | 7.79 | 6.15 | 0.78 | 0.67 |
| Class 2 | –17.33 | 4.10 | 7.77 | 6.14 | 0.78 | 0.67 |
| Class 4 | –17.57 | 3.83 | 7.53 | 5.89 | 1.03 | 0.92 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index results reflect dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x19x2.jpg)

American Funds Insurance Series 17

Growth-Income Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Growth-Income Fund fell 16.28% for the 12 months ended December 31, 2022, compared with a decline of 18.11% in its benchmark index, S&P 500 Index,<sup>1</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks.

U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. The S&P 500 entered its first bear market since 2020. Energy was the top S&P 500 sector for the second straight year, climbing 66%. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

Regarding the fund, investments within the information technology and industrials sectors were top contributors to the fund's relative returns. An out-of-benchmark position in energy company Canadian Natural Resources was a top individual contributor, as the stock outpaced the market overall. On the downside, security selections within the communications and financials sectors dragged on portfolio returns. Netflix was the fund's top individual detractor owing to a larger-than-benchmark position and returns that lagged the market overall.

Looking ahead, uncertainty in the macroeconomic outlook and in the trajectory of inflation and interest rates will likely continue. Stock valuations have started to come down to reflect investor concerns, although corporate earnings outlooks may not have bottomed. The fund's portfolio managers will take advantage of volatility to build positions in companies and stocks in which they see long term value. The current environment should provide opportunities for finding investments with attractive risk-adjusted return potential.

18 American Funds Insurance Series

Growth-Income Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x21x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since February 8, 1984) | **Expense<br>ratio** |
| Class 1 | –16.28% | 8.09% | 11.82% | 11.01%&nbsp;&nbsp;&nbsp;&nbsp; | 0.28% |
| Class 1A | –16.48 | 7.83 | 11.55 | 10.74 | 0.53 |
| Class 2 | –16.50 | 7.83 | 11.54 | 10.74 | 0.53 |
| Class 3 | –16.43 | 7.91 | 11.62 | 10.82 | 0.46 |
| Class 4 | –16.70 | 7.56 | 11.28 | 10.47 | 0.78 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: S&P Dow Jones Indices LLC. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x21x2.jpg)

American Funds Insurance Series 19

International Growth and Income Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

International Growth and Income Fund fell 15.00% for the 12 months ended December 31, 2022, compared with a decline of 16.00% in its benchmark index, MSCI ACWI (All Country World Index) ex USA,<sup>1</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes excluding the U.S.).

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

Regarding the fund, stock selections within the consumer discretionary and consumer staples sectors were additive to relative results. Within individual securities, British American Tobacco was a top contributor owing to returns that outpaced the broader market. On the downside, security selections within the financials and energy sectors detracted from returns. Positions in Russian firms Sberbank and Gazprom were among the top individual detractors as their stocks saw declines due to the Russian invasion of Ukraine and related consequences.

The new year looks to continue current macroeconomic uncertainty and trends stemming from shifting monetary policies and geopolitical tensions around the world. In this environment, valuations remain depressed, particularly outside the United States. The fund's managers continue to focus on businesses they believe will provide good value over the long-term, as guided by the fundamental, global research that underpins investment decisions.

20 American Funds Insurance Series

International Growth and Income Fund (continued)

**How a hypothetical $10,000 investment has grown**

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since November 18, 2008) | **Expense<br>ratio** |
| Class 1 | –15.00% | 0.88% | 3.86% | 6.91% | 0.55% |
| Class 1A | –15.31 | 0.61 | 3.60 | 6.64 | 0.80 |
| Class 2 | –15.25 | 0.62 | 3.60 | 6.64 | 0.80 |
| Class 4 | –15.52 | 0.35 | 3.37 | 6.40 | 1.05 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Source: MSCI. The MSCI index result reflects dividends net of withholding taxes and reinvestment of distributions. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x23x2.jpg)

American Funds Insurance Series 21

Capital Income Builder<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Capital Income Builder, which invests in a mix of stocks and bonds, declined 6.90% for the 12 months ended December 31, 2022. During the same period, the index blend of 70%/30% MSCI ACWI (All Country World Index)/Bloomberg U.S. Aggregate Index<sup>1</sup> fell 16.59%. MSCI ACWI,<sup>2</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes), fell 18.36%. The Bloomberg U.S. Aggregate Index,<sup>3</sup> which represents the U.S. investment-grade (rated BBB/Baa and above) fixed-rate bond market, fell 13.01%.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI All Country World Index. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses.

U.S. fixed income markets fell across the board. The Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, which ended the year inverted as shorter dated bonds sold off sharply.

The overall portfolio has protected the absolute downside for investors. In the equity portfolio, stock selection in consumer staples was a top contributor to relative returns. Investment in aerospace, within the industrials sector, was also additive, as was a position in the energy sector. On the downside, stock selection within financials detracted from returns. Overall, dividend-paying companies have done better than the broader market.

The fund's fixed income portfolio outpaced its benchmark and was additive to relative returns overall. Duration positioning within the portfolio was a primary driver of returns, while curve positioning and security selection detracted.

The fund's portfolio managers are cautious given the impact of a potential U.S. recession on earnings and dividends, but also aware that markets tend to bottom three to six months ahead of a recession and are therefore ready to revisit early cyclical investment ideas. With the strength of the U.S. dollar reversing, we believe the fund's exposure to global markets is well-positioned. The fund also remains well-positioned to use its geographic flexibility to pursue dividend-paying investment opportunities around the world. Fund managers remain loyal to the fund's objective and optimistic about the companies with growing dividends that were selected for this portfolio through fundamental, bottom-up security selection.

22 American Funds Insurance Series

Capital Income Builder<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x25x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>4</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime**<br>(since May 1, 2014) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –6.90% | 4.35% | 4.33% | 0.41% | 0.27% |
| Class 1A | –7.06 | 4.10 | 4.08 | 0.66 | 0.52 |
| Class 2 | –7.13 | 4.09 | 4.14 | 0.66 | 0.52 |
| Class 4 | –7.37 | 3.83 | 3.81 | 0.91 | 0.77 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Data sources: MSCI and Bloomberg Index Services Ltd. 70%/30% MSCI ACWI/Bloomberg U.S. Aggregate Index blends the MSCI ACWI (All Country World Index) with the Bloomberg U.S. Aggregate Index by weighting their total returns at 70% and 30%, respectively. Its result assumes the blend is rebalanced monthly.

<sup>2</sup> Source: MSCI. The MSCI index result reflects dividends net of withholding taxes and reinvestment of distributions.

<sup>3</sup> Source: Bloomberg Index Services Ltd.

<sup>4</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x25x2.jpg)

American Funds Insurance Series 23

Asset Allocation Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Asset Allocation Fund, which is a mix of stocks and bonds, fell 13.19% for the 12 months ended December 31, 2022. During the same period, the index blend of 60%/40% S&P 500 Index/Bloomberg U.S. Aggregate Index<sup>1</sup> declined 15.79%. S&P 500 Index,<sup>2</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, was down 18.11%, while the Bloomberg U.S. Aggregate Index,<sup>3</sup> which represents the U.S. investment-grade (rated BBB/Baa and above) fixed-rate bond market, fell by 13.01%.

U.S. equities had their worst year since 2008, as persistently high inflation and aggressive rate hikes stoked recession fears. The S&P 500 entered its first bear market since 2020. Energy was the top S&P 500 sector for the second straight year, climbing 66%. Crude oil prices spiked in March after Russia's invasion of Ukraine upended global oil flows. Growth stocks had the sharpest declines, including several tech giants that had been market leaders over the last decade. Despite consecutive quarters of negative gross domestic product growth in the first half, a strong labor market helped inflation to persist.

U.S. fixed income markets fell across the board. The Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, and ended the year inverted as shorter dated bonds sold off sharply.

In the equity portfolio, investment selection within the consumer discretionary sector was the top contributor to relative returns on a sector basis. Results were buoyed by an off-benchmark holding in food services company Aramark and a higher-than-index position in Philip Morris, which saw returns that significantly outpaced the market overall. On the downside, stock selections within the energy and financials sectors weighed on relative returns. Within energy, Exxon Mobil – which the fund did not hold – weighed on relative results as its stock outpaced the broader market. A higher-than-benchmark holding in Charter Communications was among the top individual detractors, as returns lagged the broader market.

The fund's fixed income investments were additive to relative returns overall. Duration positioning within Treasuries and mortgage-backed securities (MBS) contributed positively to results. Sector and security selections detracted. An out-of-benchmark position within U.S. Treasury Inflation-Protected Securities (TIPS) also weighed on returns.

In the wake of market selloffs and rotations like the one seen in 2022, opportunities often abound for the long-term investor. Fund managers note that many sound companies with outstanding long-term prospects are trading at attractive valuations because the market is focused on the short term. Managers are focused on differentiating between companies whose fundamental outlook has changed versus those facing more transient issues, and where valuations are attractive. In addition, their portfolios are balanced across a broad array of cyclical and market exposures.

24 American Funds Insurance Series

Asset Allocation Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x27x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>4</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since August 1, 1989) | **Expense<br>ratio** |
| Class 1 | –13.19% | 5.59% | 8.37% | 8.22% | 0.30% |
| Class 1A | –13.43 | 5.32 | 8.11 | 7.95 | 0.55 |
| Class 2 | –13.41 | 5.33 | 8.10 | 7.95 | 0.55 |
| Class 3 | –13.37 | 5.40 | 8.18 | 8.03 | 0.48 |
| Class 4 | –13.66 | 5.06 | 7.87 | 7.69 | 0.80 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

<sup>1</sup> Data sources: Bloomberg Index Services Ltd. and S&P Dow Jones Indices LLC. 60%/40% S&P 500 Index/Bloomberg U.S. Aggregate Index blends the S&P 500 with the Bloomberg U.S. Aggregate Index by weighting their total returns at 60% and 40%, respectively. Its result assumes the blend is rebalanced monthly.

<sup>2</sup> Source: S&P Dow Jones Indices LLC.

<sup>3</sup> Source: Bloomberg Index Services Ltd.

<sup>4</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x27x2.jpg)

American Funds Insurance Series 25

American Funds<sup>®</sup> Global Balanced Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

American Funds Global Balanced Fund declined 14.33% for the 12 months ended December 31, 2022. Over the same period, the fund's index blend of 60%/40% MSCI ACWI (All Country World Index)/Bloomberg Global Aggregate Index<sup>1</sup> fell 17.33%. MSCI ACWI,<sup>2</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes), was down 18.36%, while the Bloomberg Global Aggregate Index,<sup>3</sup> a measure of global investment-grade bonds (rated BBB/Baa and above), declined 16.25%.

Global stocks fell sharply, pressured by rising interest rates, slowing economic growth and inflationary pressures not seen since the 1980s. The war in Ukraine also weighed on investors throughout the year. Several key benchmark indexes fell into bear market territory at times and all but one sector declined in the MSCI ACWI. Within that index, communication services, consumer discretionary and information technology stocks suffered the biggest losses. Meanwhile, energy stocks surged amid higher oil and gas prices. Late in the year, signs that inflation may have peaked in the U.S., Europe and elsewhere sparked a rally that erased some of the losses. Bonds fell in the face of rising inflation, and the Federal Reserve hiked its policy rate 425 basis points over seven policy meetings in an attempt to tame it. The Bloomberg U.S. Treasury Index<sup>4</sup> lost 12.46% in one of the worst bond market declines in history. The Federal Reserve and European Central Bank, among others, aggressively raised interest rates in an attempt to bring inflation back to a target of roughly 2%, down from 7% to 10% in many economies.

The fund declined overall but outpaced its primary benchmark index. Within the equity portfolio, stock selection in the communication services sector was a top contributor to relative results. A lower-than-benchmark position in Amazon was additive to portfolio relative returns as the stock lagged the market overall. On the downside, stock selection within the materials sector weighed on returns. A higher-than-benchmark holding in Home Depot was a top detractor among individual stocks. The fund's fixed income investments detracted from relative results. A small exposure to Russian bonds weighed on relative returns, while overall sector selection was positive, owing mostly to holdings in euro-denominated assets.

Investors face an ongoing combination of risks in the year ahead, with likely weak economic growth, high inflation and geopolitical risk continuing. Among stock sectors, fund managers believe sectors such as U.S. utilities and health care may provide attractive investment opportunities as renewable energy incentives and demographic changes are expected to aid growth. They are also closely watching the U.S. dollar, whose strength has weighed on non-U.S. holdings in the portfolio and is expected to remain strong into 2023. The fund's fixed income portfolio remains cautiously positioned in the current inflationary environment, but managers are confident in the long-term opportunities in bond markets that are now delivering meaningful income for the first time in years. As always, they continue to focus on core principals of global research, individual security selection and bottom-up fundamental analysis to underpin investment decisions.

26 American Funds Insurance Series

American Funds<sup>®</sup> Global Balanced Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x29x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>5</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since May 2, 2011) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –14.33% | 3.65% | 5.52% | 5.23% | 0.51% | 0.50% |
| Class 1A | –14.56 | 3.41 | 5.28 | 4.99 | 0.76 | 0.75 |
| Class 2 | –14.56 | 3.40 | 5.25 | 4.97 | 0.76 | 0.75 |
| Class 4 | –14.73 | 3.13 | 5.12 | 4.81 | 1.01 | 1.00 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Data sources: MSCI and Bloomberg Index Services Ltd. The 60%/40% MSCI ACWI/Bloomberg Global Aggregate Index blends the MSCI ACWI (All Country World Index) with the Bloomberg Global Aggregate Index by weighting their cumulative total returns at 60% and 40%, respectively. Its result assumes the blend is rebalanced monthly.

<sup>2</sup> Source: MSCI. The MSCI index results reflect dividends net of withholding taxes and reinvestment of distributions.

<sup>3</sup> Source: Bloomberg Index Services Ltd.

<sup>4</sup> Source: Bloomberg Index Services Ltd. The Bloomberg U.S. Treasury Index measures the performance of public obligations of the U.S. Treasury.

<sup>5</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x29x2.jpg)

American Funds Insurance Series 27

The Bond Fund of America<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The Bond Fund of America declined 12.26% for the 12 months ended December 31, 2022. The fund's benchmark, Bloomberg U.S. Aggregate Index,<sup>1</sup> which represents the U.S. investment-grade (rated BBB/Baa and above) fixed-rate bond market, was down 13.01%.

U.S. fixed income markets fell across the board. The U.S. Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, which ended the year inverted as shorter dated bonds sold off sharply. The 10-year Treasury yield soared 237 basis points to 3.88%. The Bloomberg U.S. Corporate Investment Grade Index<sup>2</sup> returned –15.76%, and spreads widened by 38 basis points. Elsewhere, the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index<sup>3</sup> returned –11.18%, while the Bloomberg Municipal Bond Index<sup>4</sup> returned –8.53%.

Over the period, the largest contributions to relative results came from duration positioning and agency mortgage-backed securities (MBS). The fund's lower-than-benchmark duration helped reduce interest rate sensitivity as rates moved higher and bond prices fell over the period. A lower position in MBS also helped, relative to the benchmark, as spreads widened materially. On the downside, yield curve positioning and a modest position in emerging markets and high-yield bonds detracted from results.

The market and economic environments in 2023 look very different than last year. Inflation appears to have peaked and is on the decline, the Fed has guided to a peak federal funds rate of around 5% to be reached in the first half of 2023, and the market is gearing for an economic slowdown or recession. In response, yields have moved higher and spreads on risky assets have moved wider, making valuations more attractive for fixed income investors.

The fund's managers have a conservative outlook on the economy and believe that while valuations are more attractive, they do not fully compensate investors for the risk of a deeper economic downturn in the coming year. Managers have added duration, corporate bonds and structured products like agency mortgage-backed securities to effectively eliminate lower-than-benchmark positions but have not moved significantly higher than the benchmark. Interest rate positioning is concentrated in intermediate securities around five-year maturities, which managers believe will benefit the portfolio if inflation and the economy continue to slow and the Fed ends the rate-hike cycle in the first half of 2023.

As the year progresses and managers gain more confidence on either the direction of the economy or valuations, they expect to take more meaningful positions relative to the benchmark. As always, research-driven security selection is expected to be an important driver of future investment results.

28 American Funds Insurance Series

The Bond Fund of America<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x31x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>5</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since January 2, 1996) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –12.26% | 1.02% | 1.62% | 4.04% | 0.38% | 0.21% |
| Class 1A | –12.49 | 0.78 | 1.37 | 3.79 | 0.63 | 0.46 |
| Class 2 | –12.58 | 0.76 | 1.36 | 3.78 | 0.63 | 0.46 |
| Class 4 | –12.75 | 0.51 | 1.12 | 3.53 | 0.88 | 0.71 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd.

<sup>2</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate Investment Grade Index represents the universe of investment-grade, publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity and quality requirements.

<sup>3</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%.

<sup>4</sup> Source: Bloomberg Index Services Ltd. Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market.

<sup>5</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x31x2.jpg)

American Funds Insurance Series 29

Capital World Bond Fund<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Capital World Bond Fund declined 17.43% for the 12 months ended December 31, 2022. The fund's benchmark, the Bloomberg Global Aggregate Index,<sup>1</sup> which measures global investment-grade bonds (rated BBB/Baa and above), was down 16.25%.

Bonds plummeted in the face of soaring inflation, which rose in part due to energy price shocks resulting from Russia's invasion of Ukraine. The Bloomberg U.S. Treasury Index<sup>2</sup> lost 12.46% in one of the worst bond market declines in history. The Federal Reserve and European Central Bank, among others, aggressively raised interest rates in an attempt to bring consumer price increases back to a target of roughly 2%, down from 7% to 10% in many economies.

Over the period, the largest contributions to the fund's relative results were due to currency and sector selection, with a modest boost from curve positioning. Unhedged holdings in the euro and Japanese yen were additive. On the downside, duration positioning as well as currency hedging in forward contracts detracted. Weak absolute returns in part reflect the strength of the U.S. dollar, spurred by the Fed's aggressive rate hikes and their effect on global bond markets.

Looking ahead, the fund's managers believe the Fed's hiking cycle is close to a peak and see the 50-60 basis points of further hikes priced into forward curves as realistic. The managers' outlook for bonds is therefore good, with the U.S. dollar likely in a peaking phase as inflation momentum turns around. They expect inflation to fall this year as growth is likely to be relatively sluggish in both the U.S. and Europe.

30 American Funds Insurance Series

Capital World Bond Fund<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x33x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>3</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since October 4, 2006) | **Expense<br>ratio** |
| Class 1 | –17.43% | –1.53% | –0.25% | 2.40% | 0.47% |
| Class 1A | –17.69 | –1.76 | –0.48 | 2.16 | 0.72 |
| Class 2<sup>4</sup> | –17.70 | –1.77 | –0.50 | 2.14 | 0.72 |
| Class 4 | –17.84 | –2.01 | –0.70 | 1.92 | 0.97 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd.

<sup>2</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Treasury Index measures the performance of public obligations of the U.S. Treasury.

<sup>3</sup> Periods greater than one year are annualized.

<sup>4</sup> Capital World Bond Fund Class 2 shares were first sold on November 6, 2006. Results prior to that date are hypothetical based on Class 1 share results adjusted for estimated additional annual expenses of 0.25%.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x33x2.jpg)

American Funds Insurance Series 31

American High-Income Trust<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

American High-Income Trust fell 9.01% for the 12 months ended December 31, 2022. In comparison, the fund's benchmark, the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index,<sup>1</sup> which measures fixed-rate non-investment-grade bonds (rated BB/Ba and below) and limits the exposure of an issuer to 2%, was down 11.18%.

U.S. fixed income markets fell across the board. The Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, and ended the year inverted as shorter dated bonds sold off sharply. The 10-year Treasury yield soared 237 basis points to 3.88%. Investment-grade (BBB/Baa and above) corporate bonds saw the worst returns. The Bloomberg U.S. Corporate Investment Grade Index<sup>2</sup> returned –15.76%, and spreads widened by 38 basis points. Elsewhere, the Bloomberg Municipal Bond Index<sup>3</sup> returned –8.53%.

At a high level, security selection was most additive to the fund's relative returns over the period. In particular, investments within the energy and non-cyclical consumer staples sectors contributed to relative results. On the downside, security selection and a lower-than-benchmark position within the cyclical consumer goods sector detracted from relative results.

With high-yield bond yields close to their long-term average, markets now reflect the higher inflation that emerged over the last year. The adverse consequences of tighter global monetary policy may lead to somewhat higher default rates in the next several years, which could in turn lead to a further rise in yields. The substantial yield increases across fixed income markets provides a more attractive forward return outlook, and although yields may continue to adjust to higher levels, much of the required adjustment may have already occurred. The fund's managers continue to seek attractive opportunities within the high yield market that appropriately compensate for the underlying investment risks.

32 American Funds Insurance Series

American High-Income Trust<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x35x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>4</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since February 8, 1984) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –9.01% | 3.40% | 4.12% | 8.16% | 0.44% | 0.30% |
| Class 1A | –9.29 | 3.14 | 3.87 | 7.89 | 0.69 | 0.55 |
| Class 2 | –9.26 | 3.14 | 3.86 | 7.89 | 0.69 | 0.55 |
| Class 3 | –9.25 | 3.21 | 3.93 | 7.97 | 0.62 | 0.48 |
| Class 4 | –9.53 | 2.88 | 3.64 | 7.63 | 0.94 | 0.80 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd.

<sup>2</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate Investment Grade Index represents the universe of investment-grade, publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity and quality requirements.

<sup>3</sup> Source: Bloomberg Index Services Ltd. Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market.

<sup>4</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x35x2.jpg)

American Funds Insurance Series 33

American Funds Mortgage Fund<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

American Funds Mortgage Fund fell 9.76% for the 12 months ended December 31, 2022. Its benchmark index, Bloomberg U.S. Mortgage-Backed Securities Index,<sup>1</sup> which covers the mortgage-backed pass-through securities of Ginnie Mae, Fannie Mae and Freddie Mac, was down 11.81%.

U.S. fixed income markets fell across the board. The Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, which ended the year inverted as shorter dated bonds sold off sharply. The 10-year Treasury yield soared 237 basis points to 3.88%. Investment-grade (BBB/Baa and above) corporate bonds saw the worst returns. The Bloomberg U.S. Corporate Investment Grade Index<sup>2</sup> returned –15.76%, and spreads widened by 38 basis points. Elsewhere, the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index<sup>3</sup> returned –11.18%, while the Bloomberg Municipal Bond Index<sup>4</sup> returned –8.53%.

The fund declined but outpaced its benchmark index. At a high level, duration and curve positioning were most additive to relative returns over the period. In particular, the fund benefitted from lower-than-benchmark duration positioning within securitized mortgage-backed security pass-throughs. On the downside, sector selection weighed on results overall, particularly in an out-of-benchmark position within Treasuries.

The fund's focus remains on meeting its core objectives of providing current income and preserving invested capital. Managers are mindful of the fund's correlation to equity and its use as a building block in investor portfolios. They are cautious about weakening economic activity as the Fed continues to raise interest rates. The fund is positioned with the view that inflation may remain elevated and that a contraction in growth is likely sometime in the next year.

34 American Funds Insurance Series

American Funds Mortgage Fund<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x37x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>5</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime<br>10 years** | **Gross**<br>(since May 2, 2011) | **Net<br>expense ratio** | **expense ratio** |
| Class 1 | –9.76% | 0.38% | 1.19% | 1.65% | 0.40% | 0.30%&nbsp;&nbsp;&nbsp;&nbsp; |
| Class 1A | –10.03 | 0.14 | 0.95 | 1.40 | 0.65 | 0.55 |
| Class 2 | –9.94 | 0.14 | 0.94 | 1.40 | 0.65 | 0.55 |
| Class 4 | –10.16 | –0.11 | 0.75 | 1.20 | 0.90 | 0.80 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd.

<sup>2</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate Investment Grade Index represents the universe of investment-grade, publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity and quality requirements.

<sup>3</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%.

<sup>4</sup> Source: Bloomberg Index Services Ltd. Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market.

<sup>5</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x37x2.jpg)

American Funds Insurance Series 35

Ultra-Short Bond Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

Ultra-Short Bond Fund rose 1.42% for the 12 months ended December 31, 2022, compared with a 0.69% rise in the Bloomberg Short-Term Government/Corporate Index,<sup>1</sup> which consists of investment-grade (rated BBB/ Baa and above), fixed-rate, publicly placed, dollar-denominated and non-convertible securities with remaining maturity from one up to (but not including) 12 months within either the government or corporate sector.

With a focus on capital preservation and liquidity, the fund continues to invest in a conservative manner, typically investing in both shorter duration and higher quality securities relative to the index. In the current rising interest rate environment, this approach positioned the fund to capture interest rate hikes relatively quickly. With the U.S. Federal Reserve raising its benchmark rate seven times and by a total of 425 basis points in 2022, the fund's shorter duration compared with the index resulted in a more positive 12-month return.

Short-term interest rates are currently near a 15-year high and, with the current inflation outlook, the Federal Reserve may choose to increase them again. However, uncertainty on when the Fed may pause hikes or reverse course continues to drive the market.

36 American Funds Insurance Series

Ultra-Short Bond Fund (continued)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since February 8, 1984) | **Expense<br>ratio** |
| Class 1 | 1.42% | 0.97% | 0.49% | 3.17% | 0.30% |
| Class 1A | 1.32 | 0.97 | 0.39 | 2.95 | 0.55 |
| Class 2 | 1.17 | 0.72 | 0.24 | 2.91 | 0.55 |
| Class 3 | 1.19 | 0.80 | 0.31 | 2.98 | 0.48 |
| Class 4 | 0.83 | 0.47 | 0.06 | 2.67 | 0.80 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |
| Commercial paper | 76.5% |
| Federal agency bills & notes | 21.5 |
| Other assets less liabilities | 2.0 |
| Total | 100.0% |

---

American Funds Insurance Series 37

U.S. Government Securities Fund<sup>®</sup>

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

U.S. Government Securities Fund declined 10.75% for the 12 months ended December 31, 2022. Its benchmark, the Bloomberg U.S. Government/Mortgage-Backed Securities Index,<sup>1</sup> which covers obligations issued by the U.S. Treasury and U.S. government agencies, was down 12.12%.

U.S. fixed income markets fell across the board. The Federal Reserve raised the federal funds rate by 425 basis points from near zero to counter the highest inflation since the 1980s. U.S. Treasury yields rose across the curve, which ended the year inverted as shorter dated bonds sold off sharply. The 10-year Treasury yield soared 237 basis points to 3.88%.

Over the period, the fund outpaced its benchmark. Top contributors to relative returns were duration and curve positioning. Duration positioning particularly within agency mortgage-backed securities (MBS) was additive. On the downside, sector and security selection weighed modestly on returns relative to the benchmark. The fund utilized interest rate derivatives to more efficiently execute the portfolio's interest rate positioning based on how managers expected yields to move. These had mixed impacts on results, but ultimately helped to express managers' convictions more efficiently.

The Fed has provided enormous support to the markets, particularly over the last two years. It is difficult to imagine unwinding that support without disruptions to financial markets and the economy. The fund's present high weighting to Treasury Inflation-Protected Securities (TIPS) is intended to provide additional return if the market underestimates future inflation. It remains to be seen just how far the Fed will go to tame inflation, but the fund's managers intend to use all the tools at their disposal to navigate these volatile markets as they seek to protect and grow shareholder assets over time.

38 American Funds Insurance Series

U.S. Government Securities Fund<sup>®</sup> (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x41x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>2</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br>(since December 2, 1985) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class 1 | –10.75% | 0.85% | 1.17% | 5.17% | 0.34% | 0.24% |
| Class 1A | –10.93 | 0.61 | 0.93 | 4.92 | 0.59 | 0.49 |
| Class 2 | –10.95 | 0.61 | 0.92 | 4.91 | 0.59 | 0.49 |
| Class 3 | –10.90 | 0.67 | 0.99 | 4.99 | 0.52 | 0.42 |
| Class 4 | –11.19 | 0.37 | 0.70 | 4.66 | 0.84 | 0.74 |

---

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are restated to reflect current fees and are as of the fund's prospectus dated May 1, 2023 (unaudited). Refer to the Financial Highlights table in this report for details.

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: Bloomberg Index Services Ltd. <br> <sup>2</sup> Periods greater than one year are annualized.

---

| | |
|:---|:---|
| **Where the fund's assets were invested as of December 31, 2022** | Percent of net assets |

---

![](x1_c105652x41x2.jpg)

American Funds Insurance Series 39

Managed Risk Growth Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The fund declined 24.62% for the 12 months ended December 31, 2022. S&P 500 Managed Risk Index – Moderate Aggressive<sup>1</sup> was down 13.52%. S&P 500 Index,<sup>2</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, fell 18.11%.

The fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup>– Growth Fund and American Funds Insurance Series<sup>®</sup> – The Bond Fund of America while seeking to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded options and futures contracts. The benefit of the fund's managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the fund's results can be expected to lag those of the underlying fund.

The underlying Growth Fund's investment within the materials sector was the top contributor to relative returns. Security selections within the consumer discretionary and communication services sectors detracted. The return of the underlying The Bond Fund of America was additive to relative results against its primary benchmark, the Bloomberg U.S. Aggregate Index.<sup>3</sup> The managed risk strategy was additive to returns overall. Within the strategy, the equity future overlay was positive while the Treasury future and option overlays detracted.

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x42x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>4</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime**<br>(since May 1, 2013) | **Gross<br>expense ratio** | **Net<br>expense ratio** |
| Class P1 | –24.62% | 6.61% | 8.10% | 0.74% | 0.69% |
| Class P2 | –24.88 | 6.31 | 7.80 | 0.99 | 0.94 |

---

The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios shown reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited).

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: S&P Dow Jones Indices LLC. Standard & Poor's Managed Risk Index Series is designed to simulate a dynamic protective portfolio that allocates between the underlying equity index and cash, based on realized volatilities of the underlying equity and bond indexes, while maintaining a fixed allocation to the underlying bond index.

<sup>2</sup> Source: S&P Dow Jones Indices LLC.

<sup>3</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Aggregate Index represents the U.S. investment-grade (rated BBB/Baa and above) fixed-rate bond market.

<sup>4</sup> Periods greater than one year are annualized.

Milliman Financial Risk Management LLC serves as the subadviser with respect to the management of the fund's managed risk strategy.

40 American Funds Insurance Series

Managed Risk International Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The fund declined 15.27% for the 12 months ended December 31, 2022, compared to S&P EPAC Ex. Korea LargeMidCap Managed Risk Index – Moderate Aggressive,<sup>1</sup> which was down 12.42%. MSCI ACWI (All Country World Index) ex USA,<sup>2</sup> a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets (consisting of more than 40 developed and emerging market country indexes, excluding the U.S.), fell 16.00%.

The fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup>– International Fund and American Funds Insurance Series<sup>®</sup>– The Bond Fund of America while seeking to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded options and futures contracts. The benefit of the fund's managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the fund's results can be expected to lag those of the underlying fund.

The underlying International Fund's investment within the energy sector was the top contributor to relative returns. On the downside, stock selections within the financials and information technology sectors detracted from relative results. The managed risk strategy was additive to results overall. Within the strategy, the equity future overlay was positive while the Treasury future and option overlays detracted.

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x43x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>3</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime**<br> (since May 1, 2013) | **Gross<br> expense ratio** | **Net<br> expense ratio** |
| Class P1 | –15.27% | –2.31% | 0.86% | 0.93% | 0.86% |
| Class P2 | –15.54 | –2.60 | 0.51 | 1.18 | 1.11 |

---

The investment adviser is currently waiving a portion of its management fee. In addition, the investment adviser is currently reimbursing a portion of other expenses. This waiver and reimbursement will be in effect through at least May 1, 2023. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios shown reflect the waiver and reimbursement, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited).

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: S&P Dow Jones Indices LLC. Standard & Poor's Managed Risk Index Series is designed to simulate a dynamic protective portfolio that allocates between the underlying equity index and cash, based on realized volatilities of the underlying equity and bond indexes, while maintaining a fixed allocation to the underlying bond index.

<sup>2</sup> Source: MSCI. The MSCI index result reflects reinvestment of distributions and dividends net of withholding taxes.

<sup>3</sup> Periods greater than one year are annualized.

Milliman Financial Risk Management LLC serves as the subadviser with respect to the management of the fund's managed risk strategy.

American Funds Insurance Series 41

Managed Risk Washington Mutual Investors Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The fund declined 8.92% for the 12 months ended December 31, 2022. S&P 500 Managed Risk Index – Moderate<sup>1</sup> fell 13.13%. S&P 500 Index,<sup>2</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, was down 18.11%.

The fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup>– Washington Mutual Investors Fund and American Funds Insurance Series<sup>®</sup>– U.S. Government Securities Fund while seeking to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded options and futures contracts. The benefit of the fund's managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the fund's results can be expected to lag those of the underlying fund.

The underlying Washington Mutual Investors Fund's security selection within the consumer discretionary sector was the top contributor to relative returns. Investments in the information technology sector were also additive. The top detractors to relative returns on a sector basis were security selections within financials and real estate. The managed risk strategy detracted overall. Within the strategy, the equity future overlay was additive while the Treasury future and option overlays detracted.

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x44x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>3</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime**<br> (since May 1, 2013) | **Gross<br> expense ratio** | **Net<br> expense ratio** |
| Class P1 | –8.92% | 2.39% | 5.47% | 0.67% | 0.62% |
| Class P2 | –9.16 | 2.08 | 5.12 | 0.93 | 0.88 |

---

The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios shown reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited).

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: S&P Dow Jones Indices LLC. Standard & Poor's Managed Risk Index Series is designed to simulate a dynamic protective portfolio that allocates between the underlying equity index and cash, based on realized volatilities of the underlying equity and bond indexes, while maintaining a fixed allocation to the underlying bond index.

<sup>2</sup> Source: S&P Dow Jones Indices LLC.

<sup>3</sup> Periods greater than one year are annualized.

Milliman Financial Risk Management LLC serves as the subadviser with respect to the management of the fund's managed risk strategy.

42 American Funds Insurance Series

Managed Risk Growth-Income Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The fund declined 16.74% for the 12 months ended December 31, 2022, compared to the S&P 500 Managed Risk Index – Moderate,<sup>1</sup> which declined 13.13%. S&P 500 Index,<sup>2</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, was down 18.11%.

The fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup>– Growth-Income Fund and American Funds Insurance Series<sup>®</sup>– The Bond Fund of America while seeking to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded options and futures contracts. The benefit of the fund's managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the fund's results can be expected to lag those of the underlying fund.

The underlying Growth-Income Fund's investment within the information technology sector was the top contributor to relative returns. A higher-than-benchmark investment within the industrials sector was also additive to results. On the downside, security selections within the financials and communication services sectors weighed on relative results. The managed risk strategy detracted overall. Within the strategy, the equity future overlay was positive while the Treasury future and option overlays detracted.

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x45x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>3</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **Lifetime**<br> (since May 1, 2013) | **Gross<br> expense ratio** | **Net<br> expense ratio** |
| Class P1 | –16.74% | 4.32% | 6.69% | 0.67% | 0.62% |
| Class P2 | –16.93 | 4.06 | 6.39 | 0.92 | 0.87 |

---

The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios shown reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited).

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: S&P Dow Jones Indices LLC. Standard & Poor's Managed Risk Index Series is designed to simulate a dynamic protective portfolio that allocates between the underlying equity index and cash, based on realized volatilities of the underlying equity and bond indexes, while maintaining a fixed allocation to the underlying bond index.

<sup>2</sup> Source: S&P Dow Jones Indices LLC.

<sup>3</sup> Periods greater than one year are annualized.

Milliman Financial Risk Management LLC serves as the subadviser with respect to the management of the fund's managed risk strategy.

American Funds Insurance Series 43

Managed Risk Asset Allocation Fund

**Fund results shown are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com/afis. For information about your insurance contract and month-end results, go to the website of the company that issued your contract.**

The fund was down 13.75% for the 12 months ended December 31, 2022. S&P 500 Managed Risk Index — Moderate Conservative<sup>1</sup> fell 12.94%. S&P 500 Index,<sup>2</sup> a market capitalization-weighted index based on the results of approximately 500 widely held common stocks, declined 18.11%.

The fund pursues its objective by investing in shares of American Funds Insurance Series<sup>®</sup>– Asset Allocation Fund while seeking to manage portfolio volatility and provide downside protection, primarily through the use of exchange-traded options and futures contracts. The benefit of the fund's managed risk strategy should be most apparent during periods of high volatility and in down markets. In steady or rising markets, the fund's results can be expected to lag those of the underlying fund.

The underlying Asset Allocation Fund's investment selections within the consumer discretionary and health care sectors were top contributors to relative results on a sector basis. Stock selections within financials and energy detracted from relative returns on a sector basis, although the energy sector was up on an absolute basis. The managed risk strategy detracted from returns overall. Within the strategy, the equity future overlay was positive while the Treasury future and option overlays detracted.

44 American Funds Insurance Series

Managed Risk Asset Allocation Fund (continued)

**How a hypothetical $10,000 investment has grown**

![](x1_c105652x47x1.jpg)

**Total returns based on a $1,000 investment**

For periods ended December 31, 2022<sup>4</sup>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **1 year** | **5 years** | **10 years** | **Lifetime**<br> (since September 28, 2012) | **Gross<br> expense ratio** | **Net<br> expense ratio** |
| Class P1 | –13.75% | 3.09% | 5.95% | 5.92% | 0.70% | 0.65% |
| Class P2 | –13.97 | 2.83 | 5.69 | 5.66 | 0.95 | 0.90 |

---

The investment adviser is currently waiving a portion of its management fee. This waiver will be in effect through at least May 1, 2023. The waiver may only be modified or terminated with the approval of the fund's board. Net expense ratios shown reflect the waiver, without which they would have been higher. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com/afis for more information. Expense ratios are as of the fund's prospectus dated May 1, 2023 (unaudited).

Past results are not predictive of results in future periods.

Any market index shown is unmanaged and, therefore, has no expenses. Investors cannot invest directly in an index.

 

<sup>1</sup> Source: S&P Dow Jones Indices LLC. Standard & Poor's Managed Risk Index Series is designed to simulate a dynamic protective portfolio that allocates between the underlying equity index and cash, based on realized volatilities of the underlying equity and bond indexes, while maintaining a fixed allocation to the underlying bond index.

<sup>2</sup> Source: S&P Dow Jones Indices LLC.

<sup>3</sup> Source: Bloomberg Index Services Ltd. Bloomberg U.S. Aggregate Index represents the U.S. investment-grade (rated BBB/Baa and above) fixed-rate bond market.

<sup>4</sup> Periods greater than one year are annualized.

Milliman Financial Risk Management LLC serves as the subadviser with respect to the management of the fund's managed risk strategy.

American Funds Insurance Series 45

Global Growth Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 94.49%** | Shares | Value <br> (000) |
| **Information technology 22.59%** |  |  |
| Microsoft Corp. | 1807800 | $433547 |
| ASML Holding NV | 458318 | 248089 |
| ASML Holding NV (New York registered) (ADR) | 227600 | 124361 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 15615000 | 227583 |
| Taiwan Semiconductor Manufacturing Company, Ltd. (ADR) | 140000 | 10429 |
| Applied Materials, Inc. | 875000 | 85208 |
| Broadcom, Inc. | 125300 | 70059 |
| Fiserv, Inc.<sup>1</sup> | 497600 | 50292 |
| Adyen NV<sup>1</sup> | 34330 | 47506 |
| Samsung Electronics Co., Ltd. | 785100 | 34621 |
| Apple, Inc. | 242400 | 31495 |
| Hexagon AB, Class B | 2920500 | 30700 |
| MongoDB, Inc., Class A<sup>1</sup> | 139000 | 27361 |
| Keyence Corp. | 69400 | 27170 |
| NVIDIA Corp. | 167500 | 24478 |
| Mastercard, Inc., Class A | 53300 | 18534 |
| EPAM Systems, Inc.<sup>1</sup> | 50700 | 16616 |
| Visa, Inc., Class A | 70197 | 14584 |
| Capgemini SE | 85000 | 14256 |
| Network International Holdings PLC<sup>1</sup> | 3731800 | 13366 |
| DocuSign, Inc.<sup>1</sup> | 180000 | 9976 |
| Shopify, Inc., Class A, subordinate voting shares<sup>1</sup> | 195000 | 6768 |
|  |  | **1566999** |
| **Health care 21.87%** |  |  |
| Novo Nordisk A/S, Class B | 1706930 | 231118 |
| UnitedHealth Group, Inc. | 335800 | 178034 |
| DexCom, Inc.<sup>1</sup> | 1012000 | 114599 |
| ResMed, Inc. | 509000 | 105938 |
| AstraZeneca PLC | 748300 | 101556 |
| Pfizer, Inc. | 1884219 | 96547 |
| Cigna Corp. | 259119 | 85857 |
| Merck & Co., Inc. | 620000 | 68789 |
| Regeneron Pharmaceuticals, Inc.<sup>1</sup> | 95036 | 68568 |
| Eli Lilly and Company | 158300 | 57912 |
| EssilorLuxottica | 266943 | 48609 |
| Gilead Sciences, Inc. | 457317 | 39261 |
| Mettler-Toledo International, Inc.<sup>1</sup> | 25400 | 36714 |
| NovoCure, Ltd.<sup>1</sup> | 340000 | 24939 |
| Alnylam Pharmaceuticals, Inc.<sup>1</sup> | 104200 | 24763 |
| CVS Health Corp. | 243600 | 22701 |
| Danaher Corp. | 82100 | 21791 |
| Bayer AG | 363860 | 18787 |
| Seagen, Inc.<sup>1</sup> | 127200 | 16346 |
| Novartis AG | 165600 | 15000 |
| Zoetis, Inc., Class A | 98300 | 14406 |
| Eurofins Scientific SE, non-registered shares | 182400 | 13135 |
| Sanofi | 135000 | 13063 |
| Vertex Pharmaceuticals, Inc.<sup>1</sup> | 43700 | 12620 |
| Olympus Corp. | 665800 | 11769 |
| Centene Corp.<sup>1</sup> | 143500 | 11768 |
| Genus PLC | 270000 | 9731 |
| Thermo Fisher Scientific, Inc. | 17472 | 9622 |
| Siemens Healthineers AG | 178000 | 8905 |
| Bachem Holding AG | 101500 | 8853 |
| Virbac SA | 36000 | 8825 |
| Catalent, Inc.<sup>1</sup> | 166200 | 7481 |
| Rede D'Or Sao Luiz SA | 1073663 | 6015 |

---

46 American Funds Insurance Series

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Health care (continued)** |  |  |
| Organon & Co. | 62000 | $1732 |
| Viatris, Inc. | 110678 | 1232 |
| EUROAPI<sup>1</sup> | 5869 | 87 |
|  |  | **1517073** |
| **Consumer discretionary 13.94%** |  |  |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 141600 | 196468 |
| LVMH Moët Hennessy-Louis Vuitton SE | 236818 | 172035 |
| Floor & Decor Holdings, Inc., Class A<sup>1</sup> | 914698 | 63690 |
| MGM China Holdings, Ltd.<sup>1</sup> | 54589200 | 60155 |
| Renault SA<sup>1</sup> | 1688781 | 56267 |
| Prosus NV, Class N | 760993 | 52246 |
| Amazon.com, Inc.<sup>1</sup> | 524248 | 44037 |
| NIKE, Inc., Class B | 352600 | 41258 |
| Cie. Financière Richemont SA, Class A | 291500 | 37722 |
| Wynn Macau, Ltd.<sup>1</sup> | 21430000 | 23884 |
| Coupang, Inc., Class A<sup>1</sup> | 1445604 | 21265 |
| YUM! Brands, Inc. | 166000 | 21261 |
| Booking Holdings, Inc.<sup>1</sup> | 9900 | 19951 |
| Domino's Pizza Enterprises, Ltd. | 430000 | 19367 |
| MercadoLibre, Inc.<sup>1</sup> | 22250 | 18829 |
| Home Depot, Inc. | 59500 | 18794 |
| Melco Resorts & Entertainment, Ltd. (ADR)<sup>1</sup> | 1559600 | 17935 |
| IDP Education, Ltd. | 871300 | 16102 |
| Evolution AB | 140000 | 13673 |
| Dollar Tree Stores, Inc.<sup>1</sup> | 95000 | 13437 |
| Moncler SpA | 217370 | 11571 |
| Entain PLC | 665250 | 10666 |
| Target Corp. | 60500 | 9017 |
| Tesla, Inc.<sup>1</sup> | 60000 | 7391 |
|  |  | **967021** |
| **Financials 8.92%** |  |  |
| AIA Group, Ltd. | 10109600 | 111378 |
| Tradeweb Markets, Inc., Class A | 1634960 | 106158 |
| AXA SA | 1692893 | 47182 |
| Kotak Mahindra Bank, Ltd. | 1696000 | 37316 |
| Aon PLC, Class A | 101000 | 30314 |
| Prudential PLC | 2203282 | 29816 |
| HDFC Bank, Ltd. | 1464450 | 28828 |
| Citigroup, Inc. | 569715 | 25768 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 3855500 | 25447 |
| Société Générale | 1011450 | 25378 |
| Blackstone, Inc., nonvoting shares | 312000 | 23147 |
| China Merchants Bank Co., Ltd., Class H | 3867000 | 21436 |
| Zurich Insurance Group AG | 42200 | 20166 |
| Banco Santander, SA | 5334500 | 15976 |
| Wells Fargo & Company | 377200 | 15575 |
| London Stock Exchange Group PLC | 165000 | 14237 |
| AU Small Finance Bank, Ltd. | 1416725 | 11157 |
| Bank of America Corp. | 320200 | 10605 |
| HDFC Life Insurance Company, Ltd. | 1406500 | 9600 |
| Tokio Marine Holdings, Inc. | 368300 | 7884 |
| Jackson Financial, Inc., Class A | 44327 | 1542 |
| Moscow Exchange MICEX-RTS PJSC<sup>1,2</sup> | 12640000 | —<sup>3</sup> |
|  |  | **618910** |
| **Consumer staples 8.57%** |  |  |
| British American Tobacco PLC | 3329455 | 132095 |
| Philip Morris International, Inc. | 1086204 | 109935 |
| Altria Group, Inc. | 1523500 | 69639 |
| Kweichow Moutai Co., Ltd., Class A | 278166 | 68834 |

---

American Funds Insurance Series 47

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Consumer staples (continued)** |  |  |
| Keurig Dr Pepper, Inc. | 1624000 | $57912 |
| Nestlé SA | 460353 | 53164 |
| Monster Beverage Corp.<sup>1</sup> | 336502 | 34165 |
| Costco Wholesale Corp. | 39170 | 17881 |
| Carrefour SA, non-registered shares | 1055594 | 17662 |
| Pernod Ricard SA | 73000 | 14349 |
| Simply Good Foods Co.<sup>1</sup> | 263800 | 10032 |
| Bunge, Ltd. | 85000 | 8481 |
|  |  | **594149** |
| **Industrials 7.54%** |  |  |
| Carrier Global Corp. | 1366400 | 56364 |
| Caterpillar, Inc. | 231600 | 55482 |
| Boeing Company<sup>1</sup> | 239000 | 45527 |
| MTU Aero Engines AG | 167000 | 36146 |
| Alliance Global Group, Inc. | 156400700 | 33466 |
| Airbus SE, non-registered shares | 245400 | 29179 |
| DSV A/S | 171230 | 27158 |
| NIBE Industrier AB, Class B | 2328700 | 21776 |
| Techtronic Industries Co., Ltd. | 1883000 | 20967 |
| CSX Corp. | 635000 | 19672 |
| Safran SA | 156300 | 19532 |
| GT Capital Holdings, Inc. | 2454611 | 19234 |
| Rentokil Initial PLC | 2380000 | 14628 |
| Kone OYJ, Class B | 273500 | 14166 |
| Canadian Pacific Railway, Ltd. (CAD denominated) | 183000 | 13644 |
| ASSA ABLOY AB, Class B | 611000 | 13146 |
| L3Harris Technologies, Inc. | 62600 | 13034 |
| Recruit Holdings Co., Ltd. | 374200 | 11901 |
| Daikin Industries, Ltd. | 74600 | 11476 |
| Rheinmetall AG | 52200 | 10397 |
| BayCurrent Consulting, Inc. | 321000 | 10037 |
| SMC Corp. | 22500 | 9523 |
| Suzhou Maxwell Technologies Co., Ltd., Class A | 156970 | 9302 |
| Nidec Corp. | 143000 | 7447 |
|  |  | **523204** |
| **Energy 4.84%** |  |  |
| TotalEnergies SE | 1210900 | 75578 |
| Canadian Natural Resources, Ltd. (CAD denominated) | 1281064 | 71140 |
| Cenovus Energy, Inc. (CAD denominated) | 3151200 | 61139 |
| Reliance Industries, Ltd. | 1601273 | 49121 |
| Tourmaline Oil Corp. | 430700 | 21732 |
| Equinor ASA | 592000 | 21234 |
| Aker BP ASA | 599979 | 18702 |
| Halliburton Company | 235128 | 9252 |
| Gaztransport & Technigaz SA | 75000 | 8013 |
| Gazprom PJSC<sup>2</sup> | 8346000 | —<sup>3</sup> |
| LUKOIL Oil Co. PJSC<sup>2</sup> | 246300 | —<sup>3</sup> |
|  |  | **335911** |
| **Materials 3.25%** |  |  |
| Sherwin-Williams Company | 385500 | 91491 |
| Linde PLC | 169940 | 55431 |
| Vale SA, ordinary nominative shares | 1577389 | 26554 |
| First Quantum Minerals, Ltd. | 706200 | 14755 |
| Shin-Etsu Chemical Co., Ltd. | 113500 | 13828 |
| Corteva, Inc. | 201300 | 11832 |
| Koninklijke DSM NV | 93100 | 11414 |
|  |  | **225305** |

---

48 American Funds Insurance Series

Global Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Communication services 2.68%** |  |  |
| Alphabet, Inc., Class A<sup>1</sup> | 1236600 | $109105 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 190923 | 22976 |
| Publicis Groupe SA | 273000 | 17336 |
| Sea, Ltd., Class A (ADR)<sup>1</sup> | 273336 | 14222 |
| Tencent Holdings, Ltd. | 297100 | 12627 |
| Bharti Airtel, Ltd. | 945000 | 9186 |
|  |  | **185452** |
| **Real estate 0.18%** |  |  |
| Goodman Logistics (HK), Ltd. REIT | 1027500 | **12072** |
| **Utilities 0.11%** |  |  |
| Brookfield Infrastructure Partners, LP | 247500 | **7666** |
| **Total common stocks** (cost: $4,798,092,000) |  | **6553762** |
| **Preferred securities 1.66%** |  |  |
| **Health care 1.36%** |  |  |
| Sartorius AG, nonvoting non-registered preferred shares | 239000 | **94514** |
| **Information technology 0.30%** |  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares | 512300 | **20614** |
| **Total preferred securities** (cost: $27,546,000) |  | **115128** |
| **Short-term securities 4.03%** |  |  |
| **Money market investments 2.37%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>4,5</sup> | 1645519 | **164535** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | |
| **Commercial paper 1.66%** |  |  |  |  |
| KfW 1/27/2023<sup>6</sup> | 3.890% | USD | 65000 | 64782 |
| Toronto-Dominion Bank 1/27/2023<sup>6</sup> | 4.130 |  | 50000 | 49833 |
|  |  |  |  | **114615** |
| **Total short-term securities** (cost: $279,166,000) |  |  |  | **279150** |
| **Total investment securities 100.18%** (cost: $5,104,804,000) | **Total investment securities 100.18%** (cost: $5,104,804,000) |  |  | **6948040** |
| Other assets less liabilities (0.18)% |  |  |  | (12386) |
| **Net assets 100.00%** |  |  |  | $**6935654** |

---

American Funds Insurance Series 49

Global Growth Fund (continued)

**Investments in affiliates<sup>5</sup>**

**** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 2.37%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 2.37%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>4</sup> | $376714 | $1480091 | $1692180 | $(71) | $(19) | $164535 | $9353 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>4</sup> | 1808 |  | 18087 |  |  |  | —<sup>8</sup> |
| &nbsp;&nbsp;&nbsp;**Total 2.37%** |  |  |  | $(71) | $(19) | $164535 | $9353 |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> Value determined using significant unobservable inputs.

<sup>3</sup> Amount less than one thousand.

<sup>4</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>5</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $114,615,000, which represented 1.65% of the net assets of the fund.

<sup>7</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>8</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

REIT = Real Estate Investment Trust

USD = U.S. dollars

Refer to the notes to financial statements.

50 American Funds Insurance Series

Global Small Capitalization Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 96.00%** | Shares | Value <br> (000) |
| **Industrials 20.67%** |  |  |
| International Container Terminal Services, Inc. | 11690490 | $42075 |
| Visional, Inc.<sup>1</sup> | 504850 | 33522 |
| Stericycle, Inc.<sup>1</sup> | 571050 | 28490 |
| Japan Airport Terminal Co., Ltd.<sup>1</sup> | 559900 | 27843 |
| IMCD NV | 177337 | 25330 |
| Fasadgruppen Group AB | 2370503 | 23995 |
| Trelleborg AB, Class B | 982292 | 22727 |
| Boyd Group Services, Inc. | 146809 | 22678 |
| Cleanaway Waste Management, Ltd. | 12501414 | 22274 |
| Interpump Group SpA | 454700 | 20598 |
| Saia, Inc.<sup>1</sup> | 80994 | 16983 |
| CG Power and Industrial Solutions, Ltd.<sup>1</sup> | 4880108 | 15908 |
| Instalco AB | 4098065 | 15622 |
| Montrose Environmental Group, Inc.<sup>1</sup> | 348186 | 15456 |
| Alfen NV<sup>1</sup> | 162431 | 14668 |
| Dürr AG | 426625 | 14396 |
| ALS, Ltd. | 1639100 | 13632 |
| Cargotec OYJ, Class B, non-registered shares | 300450 | 13341 |
| Wizz Air Holdings PLC<sup>1</sup> | 522941 | 11979 |
| Daiseki Co., Ltd. | 313600 | 10798 |
| AirTAC International Group | 355062 | 10747 |
| Woodward, Inc. | 105000 | 10144 |
| Rumo SA | 2802100 | 9877 |
| Japan Elevator Service Holdings Co., Ltd. | 787656 | 9866 |
| The AZEK Co., Inc., Class A<sup>1</sup> | 482390 | 9802 |
| Comfort Systems USA, Inc. | 84100 | 9678 |
| Centre Testing International Group Co., Ltd. | 2684839 | 8615 |
| Melrose Industries PLC | 5266169 | 8561 |
| DL E&C Co., Ltd. | 287442 | 7732 |
| Guangzhou Baiyun International Airport Co., Ltd., Class A<sup>1</sup> | 3524879 | 7613 |
| Engcon AB, Class B<sup>1,2</sup> | 1070647 | 6833 |
| Carel Industries SpA | 252900 | 6357 |
| Burckhardt Compression Holding AG | 9963 | 5929 |
| Kajaria Ceramics, Ltd. | 422763 | 5916 |
| Hensoldt AG | 248197 | 5873 |
| Diploma PLC | 161300 | 5420 |
| SIS, Ltd.<sup>1</sup> | 1128949 | 5353 |
| GVS SpA<sup>1,2</sup> | 1192262 | 5159 |
| Reliance Worldwide Corp., Ltd. | 2548379 | 5127 |
| Addtech AB, Class B | 353050 | 5054 |
| KEI Industries, Ltd. | 267444 | 4724 |
| First Advantage Corp.<sup>1</sup> | 361017 | 4693 |
| Vicor Corp.<sup>1</sup> | 85683 | 4605 |
| Harsha Engineers International, Ltd.<sup>1</sup> | 970777 | 4488 |
| ICF International, Inc. | 43592 | 4318 |
| Sulzer AG | 54789 | 4278 |
| Controladora Vuela Compañía de Aviación, SAB de CV, Class A (ADR), ordinary participation certificates<sup>1</sup> | 460200 | 3847 |
| LIXIL Corp. | 196500 | 2995 |
| Trex Co., Inc.<sup>1</sup> | 59516 | 2519 |
| Aalberts NV, non-registered shares | 64502 | 2508 |
| Dätwyler Holding, Inc., non-registered shares | 12348 | 2466 |
| Antares Vision SpA<sup>1</sup> | 281100 | 2418 |
| Chart Industries, Inc.<sup>1</sup> | 16174 | 1864 |
| Matson, Inc. | 8674 | 542 |
|  |  | **608236** |
| **Information technology 18.70%** |  |  |
| Wolfspeed, Inc.<sup>1</sup> | 790681 | 54589 |
| eMemory Technology, Inc. | 910430 | 39481 |
| Net One Systems Co., Ltd. | 1201156 | 31223 |
| Nordic Semiconductor ASA<sup>1</sup> | 1677583 | 28098 |

---

American Funds Insurance Series 51

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Information technology (continued)** |  |  |
| Confluent, Inc., Class A<sup>1</sup> | 1096085 | $24377 |
| PAR Technology Corp.<sup>1,2</sup> | 837615 | 21837 |
| SUMCO Corp. | 1466300 | 19620 |
| ALTEN SA, non-registered shares | 142299 | 17869 |
| Kingdee International Software Group Co., Ltd.<sup>1</sup> | 7337224 | 15619 |
| Extreme Networks, Inc.<sup>1</sup> | 828378 | 15168 |
| BE Semiconductor Industries NV | 235536 | 14308 |
| Smartsheet, Inc., Class A<sup>1</sup> | 346627 | 13643 |
| Euronet Worldwide, Inc.<sup>1</sup> | 144187 | 13608 |
| Ceridian HCM Holding, Inc.<sup>1</sup> | 211500 | 13568 |
| Silicon Laboratories, Inc.<sup>1</sup> | 95000 | 12889 |
| Tanla Platforms, Ltd. | 1477291 | 12708 |
| MACOM Technology Solutions Holdings, Inc.<sup>1</sup> | 190000 | 11966 |
| Keywords Studios PLC | 344606 | 11355 |
| Alphawave IP Group PLC<sup>1,2</sup> | 8897291 | 10900 |
| SHIFT, Inc.<sup>1</sup> | 59200 | 10521 |
| SINBON Electronics Co., Ltd. | 1142550 | 10218 |
| OVH Groupe SAS<sup>1,2</sup> | 591394 | 10169 |
| Qorvo, Inc.<sup>1</sup> | 110518 | 10017 |
| Pegasystems, Inc. | 288141 | 9866 |
| GitLab, Inc., Class A<sup>1,2</sup> | 213816 | 9716 |
| SimCorp AS | 139192 | 9512 |
| CCC Intelligent Solutions Holdings, Inc.<sup>1</sup> | 1033074 | 8988 |
| Aspen Technology, Inc.<sup>1</sup> | 36561 | 7510 |
| Credo Technology Group Holding, Ltd.<sup>1</sup> | 555400 | 7392 |
| INFICON Holding AG | 7397 | 6462 |
| Cognex Corp. | 116600 | 5493 |
| Bentley Systems, Inc., Class B | 142373 | 5262 |
| Unity Software, Inc.<sup>1,2</sup> | 183231 | 5239 |
| Kingboard Laminates Holdings, Ltd. | 4498000 | 4945 |
| AvidXchange Holdings, Inc.<sup>1</sup> | 489768 | 4868 |
| Topicus.com, Inc., subordinate voting shares<sup>1</sup> | 87540 | 4596 |
| MongoDB, Inc., Class A<sup>1</sup> | 23300 | 4586 |
| Truecaller AB, Class B<sup>1,2</sup> | 1289744 | 4044 |
| Linklogis, Inc., Class B<sup>1,2</sup> | 6753115 | 3482 |
| Softcat PLC | 222430 | 3192 |
| Globant SA<sup>1</sup> | 17730 | 2981 |
| Rapid7, Inc.<sup>1</sup> | 71250 | 2421 |
| Kingboard Holdings, Ltd. | 710000 | 2261 |
| TELUS International (Cda), Inc., subordinate voting shares<sup>1,2</sup> | 102669 | 2032 |
| GlobalWafers Co., Ltd. | 145000 | 2014 |
| LEM Holding SA | 990 | 1922 |
| Cvent Holding Corp.<sup>1</sup> | 344800 | 1862 |
| HashiCorp, Inc., Class A<sup>1</sup> | 54600 | 1493 |
| Bechtle AG, non-registered shares | 40616 | 1437 |
| Marqeta, Inc., Class A<sup>1</sup> | 212881 | 1301 |
| Semtech Corp.<sup>1</sup> | 32200 | 924 |
| Yotpo, Ltd.<sup>1,3,4</sup> | 678736 | 842 |
|  |  | **550394** |
| **Consumer discretionary 17.91%** |  |  |
| Melco Resorts & Entertainment, Ltd. (ADR)<sup>1</sup> | 3600384 | 41404 |
| Skechers USA, Inc., Class A<sup>1</sup> | 700000 | 29365 |
| Five Below, Inc.<sup>1</sup> | 165181 | 29216 |
| Thor Industries, Inc. | 370472 | 27967 |
| Mattel, Inc.<sup>1</sup> | 1400000 | 24976 |
| Wyndham Hotels & Resorts, Inc. | 332330 | 23698 |
| Entain PLC | 1424930 | 22847 |
| YETI Holdings, Inc.<sup>1</sup> | 547131 | 22602 |
| NEXTAGE Co., Ltd. | 1036500 | 19999 |
| Domino's Pizza Enterprises, Ltd.<sup>2</sup> | 443338 | 19968 |
| Light & Wonder, Inc.<sup>1</sup> | 299658 | 17560 |

---

52 American Funds Insurance Series

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Consumer discretionary (continued)** |  |  |
| Asbury Automotive Group, Inc.<sup>1</sup> | 97426 | $17464 |
| Inchcape PLC | 1719150 | 16969 |
| Evolution AB | 172264 | 16824 |
| DraftKings, Inc., Class A<sup>1,2</sup> | 1400364 | 15950 |
| Lands' End, Inc.<sup>1,5</sup> | 2100000 | 15939 |
| Helen of Troy, Ltd.<sup>1</sup> | 141542 | 15698 |
| TopBuild Corp.<sup>1</sup> | 82261 | 12873 |
| WH Smith PLC | 701756 | 12524 |
| Kindred Group PLC (SDR) | 1164011 | 12150 |
| Shoei Co., Ltd. | 281700 | 11006 |
| Tongcheng Travel Holdings, Ltd.<sup>1</sup> | 4538400 | 10922 |
| Golden Entertainment, Inc.<sup>1</sup> | 256800 | 9604 |
| Chervon Holdings, Ltd.<sup>2</sup> | 1635700 | 9023 |
| Musti Group OYJ | 495800 | 8297 |
| MRF, Ltd. | 7160 | 7650 |
| Tube Investments of India, Ltd. | 204200 | 6852 |
| Melco International Development, Ltd.<sup>1</sup> | 6130000 | 6655 |
| Compagnie Plastic Omnium SA | 337633 | 4898 |
| Zhongsheng Group Holdings, Ltd. | 938500 | 4784 |
| Everi Holdings, Inc.<sup>1</sup> | 330000 | 4736 |
| Leslie's, Inc.<sup>1</sup> | 353358 | 4315 |
| On Holding AG, Class A<sup>1</sup> | 238410 | 4091 |
| Elior Group SA<sup>1,2</sup> | 1153174 | 4066 |
| Persimmon PLC | 255136 | 3766 |
| Haichang Ocean Park Holdings, Ltd.<sup>1</sup> | 17691000 | 3617 |
| IDP Education, Ltd. | 150966 | 2790 |
| Arco Platform, Ltd., Class A<sup>1,2</sup> | 158600 | 2141 |
| DESCENTE, Ltd. | 81425 | 2003 |
|  |  | **527209** |
| **Health care 17.06%** |  |  |
| Insulet Corp.<sup>1</sup> | 322368 | 94901 |
| Haemonetics Corp.<sup>1</sup> | 960147 | 75516 |
| Globus Medical, Inc., Class A<sup>1</sup> | 464688 | 34512 |
| Oak Street Health, Inc.<sup>1</sup> | 1542490 | 33179 |
| Integra LifeSciences Holdings Corp.<sup>1</sup> | 527958 | 29603 |
| Max Healthcare Institute, Ltd.<sup>1</sup> | 4669887 | 24816 |
| CONMED Corp. | 200920 | 17810 |
| CanSino Biologics, Inc., Class H | 1864200 | 15948 |
| Vaxcyte, Inc.<sup>1</sup> | 274959 | 13184 |
| Ocumension Therapeutics<sup>1</sup> | 9650966 | 12105 |
| Hapvida Participações e Investimentos SA<sup>1</sup> | 12352106 | 11885 |
| Bachem Holding AG | 135555 | 11823 |
| Angelalign Technology, Inc. | 640800 | 10100 |
| ICON PLC<sup>1</sup> | 46061 | 8947 |
| Shandong Pharmaceutical Glass Co., Ltd., Class A | 2180508 | 8890 |
| CompuGroup Medical SE & Co. KGaA | 228815 | 8808 |
| Ambu AS, Class B, non-registered shares<sup>1</sup> | 683462 | 8672 |
| Penumbra, Inc.<sup>1</sup> | 36200 | 8053 |
| Netcare, Ltd. | 8818088 | 7527 |
| iRhythm Technologies, Inc.<sup>1</sup> | 79700 | 7466 |
| Denali Therapeutics, Inc.<sup>1</sup> | 257903 | 7172 |
| Encompass Health Corp. | 117866 | 7050 |
| New Horizon Health, Ltd.<sup>1</sup> | 3007844 | 6730 |
| Medmix AG | 324953 | 6200 |
| Health Catalyst, Inc.<sup>1</sup> | 568785 | 6046 |
| Hypera SA, ordinary nominative shares | 582885 | 4990 |
| Amplifon SpA | 141536 | 4228 |
| The Ensign Group, Inc. | 39450 | 3732 |
| Masimo Corp.<sup>1</sup> | 23687 | 3505 |
| Amvis Holdings, Inc. | 122400 | 3113 |
| Nordhealth AS, Class A<sup>1,2</sup> | 1279999 | 2916 |

---

American Funds Insurance Series 53

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Health care (continued)** |  |  |
| Gland Pharma, Ltd.<sup>1</sup> | 90000 | $1715 |
| Beam Therapeutics, Inc.<sup>1</sup> | 22757 | 890 |
| DiaSorin Italia SpA | 292 | 41 |
|  |  | **502073** |
| **Financials 8.75%** |  |  |
| Star Health & Allied Insurance Co., Ltd.<sup>1</sup> | 6037336 | 41333 |
| Cholamandalam Investment and Finance Co., Ltd. | 3684053 | 32078 |
| Eurobank Ergasias Services and Holdings SA<sup>1</sup> | 17966239 | 20281 |
| Independent Bank Group, Inc. | 280449 | 16849 |
| Stifel Financial Corp. | 271050 | 15821 |
| Glacier Bancorp, Inc. | 286088 | 14139 |
| Fukuoka Financial Group, Inc. | 572200 | 13049 |
| IIFL Finance, Ltd. | 2116842 | 12316 |
| IIFL Wealth Management, Ltd. | 513500 | 11028 |
| Janus Henderson Group PLC | 440000 | 10349 |
| Bridgepoint Group PLC | 3459845 | 8017 |
| Remgro, Ltd. | 965035 | 7551 |
| Five-Star Business Finance, Ltd.<sup>1</sup> | 993023 | 7268 |
| Patria Investments, Ltd., Class A | 508200 | 7079 |
| Aptus Value Housing Finance India, Ltd. | 1816424 | 6657 |
| SiriusPoint, Ltd.<sup>1</sup> | 1100000 | 6490 |
| Aavas Financiers, Ltd.<sup>1</sup> | 272734 | 6072 |
| Eastern Bankshares, Inc. | 278164 | 4798 |
| AU Small Finance Bank, Ltd. | 483716 | 3809 |
| SouthState Corp. | 46350 | 3539 |
| Allfunds Group PLC | 470000 | 3284 |
| East West Bancorp, Inc. | 49700 | 3275 |
| Capitec Bank Holdings, Ltd. | 15161 | 1658 |
| PT Bank Raya Indonesia Tbk<sup>1</sup> | 23860996 | 619 |
|  |  | **257359** |
| **Materials 3.56%** |  |  |
| JSR Corp. | 1140088 | 22469 |
| LANXESS AG | 441240 | 17807 |
| OZ Minerals, Ltd. | 648901 | 12142 |
| Navin Fluorine International, Ltd. | 175000 | 8586 |
| PI Industries, Ltd. | 188382 | 7772 |
| Zeon Corp. | 768700 | 7730 |
| Vidrala, SA, non-registered shares | 64918 | 5581 |
| MMG, Ltd.<sup>1</sup> | 14608000 | 3728 |
| Materion Corp. | 41809 | 3659 |
| Toyo Gosei Co., Ltd.<sup>2</sup> | 63400 | 3485 |
| Recticel SA/NV | 175000 | 2921 |
| Mayr-Melnhof Karton AG, non-registered shares | 17479 | 2824 |
| Livent Corp.<sup>1</sup> | 130000 | 2583 |
| Perimeter Solutions SA<sup>1,2</sup> | 221167 | 2021 |
| Huhtamäki OYJ | 42500 | 1455 |
| Covestro AG, non-registered shares | 2600 | 102 |
|  |  | **104865** |
| **Real estate 2.53%** |  |  |
| Altus Group, Ltd. | 551189 | 21999 |
| Embassy Office Parks REIT | 4939400 | 20043 |
| Macrotech Developers, Ltd.<sup>1</sup> | 582697 | 7685 |
| JHSF Participações SA | 5823950 | 5537 |
| Mindspace Business Parks REIT | 1250000 | 5054 |
| ESR-Logos REIT | 15133928 | 4166 |

---

54 American Funds Insurance Series

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Real estate (continued)** |  |  |
| Fibra Uno Administración, SA de CV REIT | 3400000 | $4006 |
| Corp. Inmobiliaria Vesta, SAB de CV | 1606000 | 3833 |
| Ayala Land, Inc. | 3718100 | 2069 |
|  |  | **74392** |
| **Energy 1.89%** |  |  |
| Venture Global LNG, Inc., Series C<sup>1,3,4</sup> | 2760 | 25418 |
| Subsea 7 SA | 1050980 | 12088 |
| DT Midstream, Inc. | 166383 | 9194 |
| Weatherford International<sup>1</sup> | 82600 | 4206 |
| Worley, Ltd. | 350000 | 3577 |
| Aegis Logistics, Ltd. | 199283 | 838 |
| Helmerich & Payne, Inc. | 7700 | 382 |
|  |  | **55703** |
| **Communication services 1.77%** |  |  |
| JCDecaux SE<sup>1</sup> | 976059 | 18563 |
| Lions Gate Entertainment Corp., Class B<sup>1</sup> | 3059785 | 16614 |
| Rightmove PLC | 816439 | 5055 |
| Bandwidth, Inc., Class A<sup>1</sup> | 206800 | 4746 |
| VTEX, Class A<sup>1</sup> | 993126 | 3724 |
| Trustpilot Group PLC<sup>1</sup> | 2966832 | 3473 |
|  |  | **52175** |
| **Utilities 1.62%** |  |  |
| ACEN Corp. | 143954250 | 19747 |
| ENN Energy Holdings, Ltd. | 1205597 | 16819 |
| Brookfield Infrastructure Corp., Class A, subordinate voting shares | 157667 | 6133 |
| Neoenergia SA | 1442015 | 4220 |
| SembCorp Industries, Ltd. | 282600 | 712 |
|  |  | **47631** |
| **Consumer staples 1.54%** |  |  |
| Grocery Outlet Holding Corp.<sup>1</sup> | 621782 | 18150 |
| Shop Apotheke Europe NV, non-registered shares<sup>1</sup> | 169500 | 8003 |
| Monde Nissin Corp. | 39914950 | 7960 |
| Scandinavian Tobacco Group A/S | 305111 | 5352 |
| AAK AB | 223527 | 3819 |
| Hilton Food Group PLC | 250077 | 1688 |
| Zur Rose Group AG<sup>1,2</sup> | 9250 | 257 |
|  |  | **45229** |
| **Total common stocks** (cost: $2,451,546,000) |  | **2825266** |
| **Preferred securities 0.87%** |  |  |
| **Information technology 0.62%** |  |  |
| SmartHR, Inc., Series D, preferred shares<sup>1,3,4</sup> | 3006 | 10752 |
| Yotpo, Ltd., Series F, preferred shares<sup>1,3,4</sup> | 2158609 | 2677 |
| Yotpo, Ltd., Series B, preferred shares<sup>1,3,4</sup> | 287894 | 357 |
| Yotpo, Ltd., Series C, preferred shares<sup>1,3,4</sup> | 274070 | 340 |
| Yotpo, Ltd., Series A-1, preferred shares<sup>1,3,4</sup> | 183819 | 228 |
| Yotpo, Ltd., Series A, preferred shares<sup>1,3,4</sup> | 89605 | 111 |
| Yotpo, Ltd., Series C-1, preferred shares<sup>1,3,4</sup> | 75980 | 94 |
| Yotpo, Ltd., Series D, preferred shares<sup>1,3,4</sup> | 42368 | 52 |
| Yotpo, Ltd., Series B-1, preferred shares<sup>1,3,4</sup> | 33838 | 42 |
| Outreach Corp., Series G, preferred shares<sup>1,3,4</sup> | 154354 | 3603 |
|  |  | **18256** |

---

American Funds Insurance Series 55

Global Small Capitalization Fund (continued)

---

| | | |
|:---|:---|:---|
| **Preferred securities** (continued) | Shares | Value <br> (000) |
| **Industrials 0.24%** |  |  |
| Azul SA (ADR), preferred nominative shares<sup>1,2</sup> | 1128836 | $6897 |
| Azul SA, preferred nominative shares<sup>1</sup> | 109500 | 229 |
|  |  | **7126** |
| **Health care 0.01%** |  |  |
| PACT Pharma, Inc., Series C, 8.00% noncumulative preferred shares<sup>1,3,4</sup> | 2931405 | **196** |
| **Total preferred securities** (cost: $45,236,000) |  | **25578** |
| **Rights & warrants 0.34%** |  |  |
| **Information technology 0.34%** |  |  |
| OPT Machine Vision Tech Co., Ltd., Class A, warrants, expire 2/3/2023<sup>1,6</sup> | 526700 | **10007** |
| **Total rights & warrants** (cost: $18,773,000) |  | **10007** |
| **Short-term securities 5.05%** |  |  |
| **Money market investments 3.25%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>5,7</sup> | 958183 | **95809** |
| **Money market investments purchased with collateral from securities on loan 1.80%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>5,7,8</sup> | 232377 | 23235 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>7,8</sup> | 18552259 | 18553 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>7,8</sup> | 10793666 | 10794 |
| State Street Institutional U.S. Government Money Market Fund, Institutional Class 4.09%<sup>7,8</sup> | 271134 | 271 |
|  |  | **52853** |
| **Total short-term securities** (cost: $148,644,000) |  | **148662** |
| **Total investment securities 102.26%** (cost: $2,664,199,000) |  | **3009513** |
| Other assets less liabilities (2.26)% |  | (66610) |
| **Net assets 100.00%** |  | $**2942903** |

---

**Investments in affiliates<sup>5</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Common stocks 0.54%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer discretionary 0.54%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lands' End, Inc.<sup>1</sup> | $41223 | $— | $— | $— | $(25284) | $15939 | $— |
| **Short-term securities 4.04%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 3.25%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7</sup> | 203087 | 779439 | 886686 | (30) | (1) | 95809 | 3871 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.79%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7,8</sup> | 32260 |  | 90259 |  |  | 23235 | —<sup>10</sup> |
| &nbsp;&nbsp;&nbsp;**Total short-term securities** |  |  |  |  |  | 119044 |  |
| &nbsp;&nbsp;&nbsp;**Total 4.58%** |  |  |  | $(30) | $(25285) | $134983 | $3871 |

---

56 American Funds Insurance Series

Global Small Capitalization Fund (continued)

**Restricted securities<sup>4</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Acquisition<br> date** | **Cost<br> (000)** | **Value<br> (000)** | **Percent<br> of net<br> assets** |
| Venture Global LNG, Inc., Series C<sup>1,3</sup> | 5/1/2015 | $8280 | $25418 | .86% |
| SmartHR, Inc., Series D, preferred shares<sup>1,3</sup> | 5/28/2021 | 14344 | 10752 | .37 |
| Yotpo, Ltd., Series F, preferred shares<sup>1,3</sup> | 2/25/2021 | 4748 | 2677 | .09 |
| Yotpo, Ltd.<sup>1,3</sup> | 3/16/2021 | 1418 | 842 | .03 |
| Yotpo, Ltd., Series B, preferred shares<sup>1,3</sup> | 3/16/2021 | 602 | 357 | .01 |
| Yotpo, Ltd., Series C, preferred shares<sup>1,3</sup> | 3/16/2021 | 573 | 340 | .01 |
| Yotpo, Ltd., Series A-1, preferred shares<sup>1,3</sup> | 3/16/2021 | 384 | 228 | .01 |
| Yotpo, Ltd., Series A, preferred shares<sup>1,3</sup> | 3/16/2021 | 187 | 111 | .01 |
| Yotpo, Ltd., Series C-1, preferred shares<sup>1,3</sup> | 3/16/2021 | 159 | 94 | .00 |
| Yotpo, Ltd., Series D, preferred shares<sup>1,3</sup> | 3/16/2021 | 89 | 52 | .00 |
| Yotpo, Ltd., Series B-1, preferred shares<sup>1,3</sup> | 3/16/2021 | 71 | 42 | .00 |
| Outreach Corp., Series G, preferred shares<sup>1,3</sup> | 5/27/2021 | 4517 | 3603 | .12 |
| PACT Pharma, Inc., Series C, 8.00% noncumulative preferred shares<sup>1,3</sup> | 2/7/2020 | 6000 | 196 | .01 |
| **Total** |  | $41372 | $44712 | 1.52% |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $59,781,000, which represented 2.03% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $44,712,000, which represented 1.52% of the net assets of the fund.

<sup>5</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $10,007,000, which represented .34% of the net assets of the fund.

<sup>7</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>8</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>9</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>10</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

REIT = Real Estate Investment Trust

SDR = Swedish Depositary Receipts

Refer to the notes to financial statements.

American Funds Insurance Series 57

Growth Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 96.12%** | Shares | Value<br> (000) |
| **Information technology 20.03%** |  |  |
| Microsoft Corp. | 6282998 | $1506789 |
| Broadcom, Inc. | 1265075 | 707341 |
| ASML Holding NV | 736108 | 398458 |
| ASML Holding NV (New York registered) (ADR) | 189937 | 103781 |
| Visa, Inc., Class A | 1198388 | 248977 |
| Apple, Inc. | 1694416 | 220156 |
| Mastercard, Inc., Class A | 566983 | 197157 |
| Fiserv, Inc.<sup>1</sup> | 1615000 | 163228 |
| Synopsys, Inc.<sup>1</sup> | 467600 | 149300 |
| Motorola Solutions, Inc. | 510100 | 131458 |
| Shopify, Inc., Class A, subordinate voting shares<sup>1</sup> | 3665992 | 127247 |
| Applied Materials, Inc. | 1199328 | 116791 |
| Wolfspeed, Inc.<sup>1</sup> | 1655641 | 114305 |
| RingCentral, Inc., Class A<sup>1</sup> | 3132381 | 110886 |
| ServiceNow, Inc.<sup>1</sup> | 269875 | 104784 |
| Salesforce, Inc.<sup>1</sup> | 787000 | 104348 |
| Micron Technology, Inc. | 2048078 | 102363 |
| NVIDIA Corp. | 665500 | 97256 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 5456000 | 79519 |
| Taiwan Semiconductor Manufacturing Company, Ltd. (ADR) | 209700 | 15621 |
| Cloudflare, Inc., Class A<sup>1</sup> | 1858800 | 84036 |
| Amadeus IT Group SA, Class A, non-registered shares<sup>1</sup> | 1612361 | 83150 |
| Genpact, Ltd. | 1524231 | 70602 |
| Keyence Corp. | 165500 | 64794 |
| Fidelity National Information Services, Inc. | 884718 | 60028 |
| Toast, Inc., Class A<sup>1</sup> | 3143518 | 56678 |
| CDW Corp. | 311859 | 55692 |
| MongoDB, Inc., Class A<sup>1</sup> | 279700 | 55056 |
| SAP SE | 477361 | 49263 |
| Constellation Software, Inc. | 31255 | 48798 |
| GoDaddy, Inc., Class A<sup>1</sup> | 645081 | 48265 |
| Samsung Electronics Co., Ltd. | 1085000 | 47846 |
| Unity Software, Inc.<sup>1,2</sup> | 1660000 | 47459 |
| Ceridian HCM Holding, Inc.<sup>1</sup> | 712011 | 45676 |
| Trimble, Inc.<sup>1</sup> | 840920 | 42517 |
| Concentrix Corp. | 305551 | 40687 |
| Block, Inc., Class A<sup>1</sup> | 635970 | 39964 |
| DocuSign, Inc.<sup>1</sup> | 718524 | 39821 |
| Bill.com Holdings, Inc.<sup>1</sup> | 358729 | 39087 |
| MicroStrategy, Inc., Class A<sup>1</sup> | 236458 | 33475 |
| NetApp, Inc. | 527540 | 31684 |
| Silicon Laboratories, Inc.<sup>1</sup> | 231815 | 31450 |
| MKS Instruments, Inc. | 360705 | 30563 |
| Intel Corp. | 1136000 | 30025 |
| Smartsheet, Inc., Class A<sup>1</sup> | 729700 | 28721 |
| Adobe, Inc.<sup>1</sup> | 69034 | 23232 |
| VeriSign, Inc.<sup>1</sup> | 110053 | 22609 |
| Ciena Corp.<sup>1</sup> | 416000 | 21208 |
| Nuvei Corp., subordinate voting shares<sup>1</sup> | 806616 | 20499 |
| Intuit, Inc. | 52500 | 20434 |
| TE Connectivity, Ltd. | 156600 | 17978 |
| Alteryx, Inc., Class A<sup>1</sup> | 286092 | 14496 |
| Enphase Energy, Inc.<sup>1</sup> | 45303 | 12004 |
| TELUS International (Cda), Inc., subordinate voting shares<sup>1</sup> | 533800 | 10564 |
| Globant SA<sup>1</sup> | 57138 | 9608 |
| Kulicke and Soffa Industries, Inc. | 151860 | 6721 |
| Stripe, Inc., Class B<sup>1,3,4</sup> | 168598 | 4704 |
|  |  | **6189159** |

---

<br> 58 American Funds Insurance Series

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care 17.31%** |  |  |
| Regeneron Pharmaceuticals, Inc.<sup>1</sup> | 1123014 | $810243 |
| UnitedHealth Group, Inc. | 1508620 | 799840 |
| Intuitive Surgical, Inc.<sup>1</sup> | 2058000 | 546090 |
| Alnylam Pharmaceuticals, Inc.<sup>1</sup> | 2075046 | 493135 |
| Centene Corp.<sup>1</sup> | 3895936 | 319506 |
| Thermo Fisher Scientific, Inc. | 532200 | 293077 |
| Vertex Pharmaceuticals, Inc.<sup>1</sup> | 879601 | 254011 |
| Seagen, Inc.<sup>1</sup> | 1746784 | 224479 |
| Moderna, Inc.<sup>1</sup> | 1200000 | 215544 |
| NovoCure, Ltd.<sup>1</sup> | 2388098 | 175167 |
| Eli Lilly and Company | 463663 | 169627 |
| Pfizer, Inc. | 1675000 | 85827 |
| CVS Health Corp. | 909400 | 84747 |
| Horizon Therapeutics PLC<sup>1</sup> | 689825 | 78502 |
| AstraZeneca PLC | 550784 | 74750 |
| Edwards Lifesciences Corp.<sup>1</sup> | 906411 | 67627 |
| Danaher Corp. | 216235 | 57393 |
| Molina Healthcare, Inc.<sup>1</sup> | 145723 | 48121 |
| Abbott Laboratories | 426712 | 46849 |
| Verily Life Sciences, LLC<sup>1,3,4</sup> | 300178 | 45222 |
| Zimmer Biomet Holdings, Inc. | 353900 | 45122 |
| Ascendis Pharma A/S (ADR)<sup>1</sup> | 364721 | 44543 |
| Zoetis, Inc., Class A | 297320 | 43572 |
| Mettler-Toledo International, Inc.<sup>1</sup> | 26000 | 37582 |
| Humana, Inc. | 65982 | 33795 |
| Align Technology, Inc.<sup>1</sup> | 160000 | 33744 |
| Karuna Therapeutics, Inc.<sup>1</sup> | 170239 | 33452 |
| Guardant Health, Inc.<sup>1</sup> | 1166810 | 31737 |
| Novo Nordisk A/S, Class B | 225077 | 30475 |
| Catalent, Inc.<sup>1</sup> | 409100 | 18414 |
| Oak Street Health, Inc.<sup>1</sup> | 806352 | 17345 |
| Exact Sciences Corp.<sup>1</sup> | 341000 | 16883 |
| DexCom, Inc.<sup>1</sup> | 148800 | 16850 |
| Pacific Biosciences of California, Inc.<sup>1</sup> | 1613190 | 13196 |
| CRISPR Therapeutics AG<sup>1</sup> | 262678 | 10678 |
| Galapagos NV<sup>1</sup> | 231294 | 10259 |
| R1 RCM, Inc.<sup>1</sup> | 912865 | 9996 |
| Ultragenyx Pharmaceutical, Inc.<sup>1</sup> | 161278 | 7472 |
| Fate Therapeutics, Inc.<sup>1</sup> | 233700 | 2358 |
| Biohaven, Ltd.<sup>1</sup> | 65550 | 910 |
| Sana Biotechnology, Inc.<sup>1,2</sup> | 179600 | 710 |
|  |  | **5348850** |
| **Consumer discretionary 16.94%** |  |  |
| Tesla, Inc.<sup>1</sup> | 10830000 | 1334039 |
| D.R. Horton, Inc. | 5494844 | 489810 |
| Amazon.com, Inc.<sup>1</sup> | 4125222 | 346519 |
| Home Depot, Inc. | 1031000 | 325652 |
| Dollar Tree Stores, Inc.<sup>1</sup> | 1965915 | 278059 |
| Las Vegas Sands Corp.<sup>1</sup> | 5500000 | 264385 |
| LVMH Moët Hennessy-Louis Vuitton SE | 313000 | 227377 |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 120100 | 166637 |
| Dollar General Corp. | 657120 | 161816 |
| Target Corp. | 1030200 | 153541 |
| Hermès International | 94901 | 146446 |
| Burlington Stores, Inc.<sup>1</sup> | 664250 | 134683 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 2282305 | 112814 |
| Aramark | 2454864 | 101484 |
| DoorDash, Inc., Class A<sup>1</sup> | 2000000 | 97640 |
| Etsy, Inc.<sup>1</sup> | 770678 | 92312 |
| Airbnb, Inc., Class A<sup>1</sup> | 1044500 | 89305 |
| NVR, Inc.<sup>1</sup> | 18380 | 84779 |

---

<br> American Funds Insurance Series 59

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer discretionary (continued)** |  |  |
| NIKE, Inc., Class B | 543416 | $63585 |
| Norwegian Cruise Line Holdings, Ltd.<sup>1,2</sup> | 5159551 | 63153 |
| Darden Restaurants, Inc. | 387870 | 53654 |
| O'Reilly Automotive, Inc.<sup>1</sup> | 63500 | 53596 |
| Booking Holdings, Inc.<sup>1</sup> | 25450 | 51289 |
| Salvatore Ferragamo SpA | 2174477 | 38488 |
| Toll Brothers, Inc. | 744683 | 37175 |
| YUM! Brands, Inc. | 275700 | 35312 |
| Floor & Decor Holdings, Inc., Class A<sup>1</sup> | 420000 | 29245 |
| Polaris, Inc. | 280000 | 28280 |
| adidas AG | 200959 | 27433 |
| Caesars Entertainment, Inc.<sup>1</sup> | 653214 | 27174 |
| Adient PLC<sup>1</sup> | 722000 | 25046 |
| VF Corp. | 872859 | 24100 |
| General Motors Company | 660000 | 22202 |
| LGI Homes, Inc.<sup>1</sup> | 181100 | 16770 |
| YETI Holdings, Inc.<sup>1</sup> | 405000 | 16730 |
| Hilton Worldwide Holdings, Inc. | 100828 | 12741 |
|  |  | **5233271** |
| **Communication services 12.87%** |  |  |
| Meta Platforms, Inc., Class A<sup>1</sup> | 9903206 | 1191752 |
| Netflix, Inc.<sup>1</sup> | 3896520 | 1149006 |
| Alphabet, Inc., Class C<sup>1</sup> | 5949690 | 527916 |
| Alphabet, Inc., Class A<sup>1</sup> | 2232320 | 196958 |
| Charter Communications, Inc., Class A<sup>1</sup> | 469410 | 159177 |
| Verizon Communications, Inc. | 3720000 | 146568 |
| Take-Two Interactive Software, Inc.<sup>1</sup> | 1177716 | 122635 |
| Snap, Inc., Class A, nonvoting shares<sup>1</sup> | 11280711 | 100962 |
| Frontier Communications Parent, Inc.<sup>1</sup> | 3168010 | 80721 |
| T-Mobile US, Inc.<sup>1</sup> | 543849 | 76139 |
| Comcast Corp., Class A | 1822263 | 63724 |
| Pinterest, Inc., Class A<sup>1</sup> | 1752664 | 42555 |
| Electronic Arts, Inc. | 304581 | 37214 |
| Iridium Communications, Inc.<sup>1</sup> | 604439 | 31068 |
| Tencent Holdings, Ltd. | 605000 | 25714 |
| ZoomInfo Technologies, Inc.<sup>1</sup> | 785400 | 23648 |
|  |  | **3975757** |
| **Industrials 10.90%** |  |  |
| Uber Technologies, Inc.<sup>1</sup> | 14666767 | 362709 |
| TransDigm Group, Inc. | 562400 | 354115 |
| Carrier Global Corp. | 7599761 | 313490 |
| Jacobs Solutions, Inc. | 2554200 | 306683 |
| Delta Air Lines, Inc.<sup>1</sup> | 7215000 | 237085 |
| United Rentals, Inc.<sup>1</sup> | 462000 | 164204 |
| Caterpillar, Inc. | 676300 | 162014 |
| Waste Connections, Inc. | 1101159 | 145970 |
| MTU Aero Engines AG | 541769 | 117261 |
| General Electric Co. | 1368072 | 114631 |
| Airbus SE, non-registered shares | 955893 | 113658 |
| Ryanair Holdings PLC (ADR)<sup>1</sup> | 1500325 | 112164 |
| Ryanair Holdings PLC<sup>1</sup> | 96554 | 1264 |
| Robert Half International, Inc. | 1323800 | 97736 |
| Old Dominion Freight Line, Inc. | 329800 | 93591 |
| Boeing Company<sup>1</sup> | 395000 | 75243 |
| United Airlines Holdings, Inc.<sup>1</sup> | 1695914 | 63936 |
| Middleby Corp.<sup>1</sup> | 449500 | 60188 |
| Axon Enterprise, Inc.<sup>1</sup> | 347957 | 57736 |
| Equifax, Inc. | 290691 | 56499 |
| Northrop Grumman Corp. | 98700 | 53852 |
| Dun & Bradstreet Holdings, Inc. | 3869573 | 47441 |

---

<br> 60 American Funds Insurance Series

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Industrials (continued)** |  |  |
| Canadian Pacific Railway, Ltd. | 496000 | $36997 |
| AMETEK, Inc. | 253600 | 35433 |
| Rockwell Automation | 129246 | 33290 |
| HEICO Corp. | 195000 | 29960 |
| Advanced Drainage Systems, Inc. | 350426 | 28724 |
| ITT, Inc. | 343000 | 27817 |
| Armstrong World Industries, Inc. | 374203 | 25666 |
| Safran SA | 185870 | 23227 |
| Saia, Inc.<sup>1</sup> | 75433 | 15817 |
|  |  | **3368401** |
| **Energy 5.92%** |  |  |
| Halliburton Company | 12143661 | 477853 |
| Canadian Natural Resources, Ltd. (CAD denominated) | 6655000 | 369564 |
| Schlumberger, Ltd. | 2340000 | 125096 |
| Cenovus Energy, Inc. (CAD denominated) | 6081800 | 117998 |
| Permian Resources Corp., Class A | 11260000 | 105844 |
| Tourmaline Oil Corp. | 1838700 | 92777 |
| TotalEnergies SE | 1469000 | 91688 |
| EQT Corp. | 2268000 | 76726 |
| Pioneer Natural Resources Company | 328000 | 74912 |
| EOG Resources, Inc. | 466699 | 60447 |
| ConocoPhillips | 472041 | 55701 |
| MEG Energy Corp.<sup>1</sup> | 3810000 | 53042 |
| Hess Corp. | 354000 | 50204 |
| Coterra Energy, Inc. | 1275197 | 31332 |
| Range Resources Corp. | 907000 | 22693 |
| Suncor Energy, Inc. | 540794 | 17154 |
| Equitrans Midstream Corp. | 936942 | 6278 |
|  |  | **1829309** |
| **Financials 5.82%** |  |  |
| Bank of America Corp. | 14780700 | 489537 |
| Capital One Financial Corp. | 1399000 | 130051 |
| First Republic Bank | 943211 | 114968 |
| KKR & Co., Inc. | 2409043 | 111828 |
| Apollo Asset Management, Inc. | 1557942 | 99381 |
| T. Rowe Price Group, Inc. | 642000 | 70017 |
| MSCI, Inc. | 146390 | 68096 |
| Marsh & McLennan Companies, Inc. | 403461 | 66765 |
| Western Alliance Bancorporation | 1071775 | 63835 |
| Wells Fargo & Company | 1511200 | 62397 |
| Blackstone, Inc., nonvoting shares | 738000 | 54752 |
| Signature Bank | 446233 | 51415 |
| S&P Global, Inc. | 141000 | 47227 |
| Aon PLC, Class A | 155700 | 46732 |
| JPMorgan Chase & Co. | 313702 | 42067 |
| Morgan Stanley | 426474 | 36259 |
| Progressive Corp. | 265951 | 34496 |
| Blue Owl Capital, Inc., Class A | 2891712 | 30652 |
| Arch Capital Group, Ltd.<sup>1</sup> | 458700 | 28797 |
| Goldman Sachs Group, Inc. | 74300 | 25513 |
| Tradeweb Markets, Inc., Class A | 390000 | 25323 |
| Ares Management Corp., Class A | 310500 | 21251 |
| SVB Financial Group<sup>1</sup> | 87300 | 20091 |
| Ryan Specialty Holdings, Inc., Class A<sup>1</sup> | 455200 | 18895 |
| Brookfield Corp., Class A | 585103 | 18407 |
| Trupanion, Inc.<sup>1,2</sup> | 287655 | 13672 |
| Brookfield Asset Management, Ltd., Class A | 146275 | 4194 |
|  |  | **1796618** |

---

<br> American Funds Insurance Series 61

Growth Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Materials 3.15%** |  |  |
| Silgan Holdings, Inc. | 2858000 | $148159 |
| Wheaton Precious Metals Corp. | 3674000 | 143580 |
| Linde PLC | 373860 | 121946 |
| Grupo México, SAB de CV, Series B | 25356800 | 89018 |
| Barrick Gold Corp. | 4058000 | 69716 |
| CF Industries Holdings, Inc. | 743000 | 63304 |
| ATI, Inc.<sup>1</sup> | 2070860 | 61836 |
| Royal Gold, Inc. | 517000 | 58276 |
| Franco-Nevada Corp. | 390000 | 53163 |
| Nutrien, Ltd. (CAD denominated) | 665949 | 48618 |
| Steel Dynamics, Inc. | 394900 | 38582 |
| Albemarle Corp. | 144809 | 31403 |
| Mosaic Co. | 678459 | 29764 |
| Summit Materials, Inc., Class A | 570855 | 16206 |
|  |  | **973571** |
| **Consumer staples 2.28%** |  |  |
| Costco Wholesale Corp. | 253000 | 115494 |
| British American Tobacco PLC | 2768763 | 109850 |
| Performance Food Group Co.<sup>1</sup> | 1743000 | 101774 |
| Constellation Brands, Inc., Class A | 334017 | 77408 |
| Archer Daniels Midland Company | 784800 | 72869 |
| Altria Group, Inc. | 1440000 | 65822 |
| Monster Beverage Corp.<sup>1</sup> | 577600 | 58644 |
| Estée Lauder Companies, Inc., Class A | 211111 | 52379 |
| Molson Coors Beverage Company, Class B, restricted voting shares | 608423 | 31346 |
| Philip Morris International, Inc. | 201113 | 20355 |
|  |  | **705941** |
| **Utilities 0.79%** |  |  |
| PG&E Corp.<sup>1</sup> | 9227065 | 150032 |
| AES Corp. | 1085884 | 31230 |
| CenterPoint Energy, Inc. | 953746 | 28603 |
| Constellation Energy Corp. | 242227 | 20882 |
| Edison International | 199191 | 12673 |
|  |  | **243420** |
| **Real estate 0.11%** |  |  |
| Equinix, Inc. REIT | 51784 | **33920** |
| **Total common stocks** (cost: $20,777,099,000) |  | **29698217** |
| **Preferred securities 0.19%** |  |  |
| **Information technology 0.16%** |  |  |
| PsiQuantum Corp., Series D, preferred shares<sup>1,3,4</sup> | 906761 | 24501 |
| Samsung Electronics Co., Ltd., nonvoting preferred shares | 531000 | 21366 |
| Tipalti Solutions, Ltd., Series F, preferred shares<sup>1,3,4</sup> | 406310 | 2385 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares<sup>1,3,4</sup> | 52656 | 1469 |
|  |  | **49721** |
| **Industrials 0.03%** |  |  |
| ABL Space Systems Co., Series B2, preferred shares<sup>1,3,4</sup> | 153713 | 5775 |
| Einride AB, Series C, preferred shares<sup>1,3,4</sup> | 77647 | 2640 |
|  |  | **8415** |
| **Total preferred securities** (cost: $68,091,000) |  | **58136** |

---

<br> 62 American Funds Insurance Series

Growth Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Convertible stocks 0.03%** | Shares | Shares | Value<br> (000) |
| **Financials 0.03%** |  |  |  |
| KKR & Co., Inc., Series C, convertible preferred shares, 6.00% 9/15/2023 |  | 125800 | $**7202** |
| **Total convertible stocks** (cost: $7,758,000) |  |  | **7202** |
| **Convertible bonds & notes 0.02%** | Principal amount<br> (000) | Principal amount<br> (000) |  |
| **Consumer staples 0.01%** |  |  |  |
| JUUL Labs, Inc., convertible notes, 7.00% PIK 2/3/2025<sup>3,4,5</sup> | USD | 46459 | **4646** |
| **Industrials 0.01%** |  |  |  |
| Einride AB, convertible notes, 7.00% 2/1/2023<sup>3,4</sup> |  | 2500 | **2500** |
| **Total convertible bonds & notes** (cost: $46,042,000) |  |  | **7146** |
| **Bonds, notes & other debt instruments 0.05%** |  |  |  |
| **Corporate bonds, notes & loans 0.05%** |  |  |  |
| **Consumer discretionary 0.05%** |  |  |  |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028<sup>6</sup> |  | 19060 | **15245** |
| **Total bonds, notes & other debt instruments** (cost: $14,159,000) |  |  | **15245** |
| **Short-term securities 3.86%** | Shares | Shares |  |
| **Money market investments 3.70%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>7,8</sup> |  | 11426693 | **1142555** |
| **Money market investments purchased with collateral from securities on loan 0.16%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>7,8,9</sup> |  | 244125 | 24410 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>7,9</sup> |  | 13667057 | 13667 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>7,9</sup> |  | 12203079 | 12203 |
|  |  |  | **50280** |
| **Total short-term securities** (cost: $1,192,617,000) |  |  | **1192835** |
| **Total investment securities 100.27%** (cost: $22,105,766,000) |  |  | **30978781** |
| Other assets less liabilities (0.27)% |  |  | (82433) |
| **Net assets 100.00%** |  |  | $30896348 |

---

**Investments in affiliates<sup>8</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 3.78%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 3.70%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7</sup> | $1610187 | $4675615 | $5142944 | $(325) | $22 | $1142555 | $22361 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.08%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7,9</sup> | 20304 | 4106<sup>10</sup> |  |  |  | 24410 | —<sup>11</sup> |
| &nbsp;&nbsp;&nbsp;**Total 3.78%** |  |  |  | $(325) | $22 | $1166965 | $22361 |

---

<br> American Funds Insurance Series 63

Growth Fund (continued)

**Restricted securities<sup>4</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Acquisition**<br>**date(s)** |<br>**Cost**<br>**(000)** |<br>**Value**<br>**(000)** | **Percent**<br>**of net**<br>**assets** |
| Verily Life Sciences, LLC<sup>1,3</sup> | 12/21/2018 | $37000 | $45222 | .14% |
| PsiQuantum Corp., Series D, preferred shares<sup>1,3</sup> | 5/28/2021 | 23781 | 24501 | .08 |
| Stripe, Inc., Class B<sup>1,3</sup> | 5/6/2021 | 6766 | 4704 | .02 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares<sup>1,3</sup> | 3/15/2021 | 2113 | 1469 | .00 |
| ABL Space Systems Co., Series B2, preferred shares<sup>1,3</sup> | 10/22/2021 | 10452 | 5775 | .02 |
| Einride AB, Series C, preferred shares<sup>1,3</sup> | 11/23/2022 | 2640 | 2640 | .01 |
| Einride AB, convertible notes, 7.00% 2/1/2023<sup>3</sup> | 1/7/2022 | 2500 | 2500 | .01 |
| JUUL Labs, Inc., convertible notes, 7.00% PIK 2/3/2025<sup>3,5</sup> | 2/3/2020-11/3/2022 | 43542 | 4646 | .01 |
| Tipalti Solutions, Ltd., Series F, preferred shares<sup>1,3</sup> | 12/1/2021 | 6956 | 2385 | .01 |
| **Total** |  | $135750 | $93842 | .30% |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $54,504,000, which represented .18% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $93,842,000, which represented .30% of the net assets of the fund.

<sup>5</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $15,245,000, which represented .05% of the net assets of the fund.

<sup>7</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>8</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>9</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>10</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>11</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

PIK = Payment In Kind

REIT = Real Estate Investment Trust

USD = U.S. dollars

Refer to the notes to financial statements.

64 American Funds Insurance Series

International Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 94.99%** | Shares | Value<br> (000) |
| **Industrials 16.64%** |  |  |
| Recruit Holdings Co., Ltd. | 7310189 | $232492 |
| Airbus SE, non-registered shares | 1657958 | 197135 |
| Safran SA | 718500 | 89786 |
| Melrose Industries PLC | 36613980 | 59524 |
| Siemens AG | 418132 | 58034 |
| MTU Aero Engines AG | 229720 | 49721 |
| Ashtead Group PLC | 645000 | 36847 |
| DSV A/S | 230223 | 36515 |
| NIBE Industrier AB, Class B | 3878804 | 36271 |
| Thales SA | 271438 | 34700 |
| Techtronic Industries Co., Ltd. | 2724000 | 30332 |
| Legrand SA | 358100 | 28833 |
| International Container Terminal Services, Inc. | 7953240 | 28625 |
| Shenzhen Inovance Technology Co., Ltd., Class A | 2350967 | 23513 |
| ZTO Express (Cayman), Inc., Class A (ADR) | 685354 | 18415 |
| Diploma PLC | 540545 | 18165 |
| Rumo SA | 5039366 | 17763 |
| Grab Holdings, Ltd., Class A<sup>1</sup> | 5356295 | 17247 |
| Brenntag SE | 259299 | 16578 |
| CCR SA, ordinary nominative shares | 5580000 | 11435 |
| SMC Corp. | 26900 | 11385 |
| Airports of Thailand PCL, foreign registered shares<sup>1</sup> | 5078900 | 11000 |
| Kingspan Group PLC | 153796 | 8281 |
| Larsen & Toubro, Ltd. | 327351 | 8232 |
| Bureau Veritas SA | 292900 | 7709 |
| AB Volvo, Class B | 396824 | 7185 |
| LIXIL Corp. | 441700 | 6731 |
| Fluidra, SA, non-registered shares | 432985 | 6715 |
| BAE Systems PLC | 617024 | 6377 |
| Zhejiang Sanhua Intelligent Controls Co., Ltd., Class A | 846334 | 2578 |
|  |  | **1118124** |
| **Information technology 13.74%** |  |  |
| SK hynix, Inc. | 3255725 | 195968 |
| Shopify, Inc., Class A, subordinate voting shares<sup>1</sup> | 4215370 | 146315 |
| ASML Holding NV | 210218 | 113792 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 6501000 | 94750 |
| Nice, Ltd. (ADR)<sup>1</sup> | 432150 | 83102 |
| Fujitsu, Ltd. | 437900 | 57990 |
| Lasertec Corp. | 320511 | 53238 |
| Samsung Electronics Co., Ltd. | 631500 | 27848 |
| NXP Semiconductors NV | 173200 | 27371 |
| Disco Corp. | 65800 | 18915 |
| Atlassian Corp., Class A<sup>1</sup> | 107001 | 13769 |
| OBIC Co., Ltd. | 83700 | 12374 |
| Constellation Software, Inc. | 7730 | 12069 |
| TELUS International (Cda), Inc., subordinate voting shares<sup>1</sup> | 526752 | 10424 |
| Suse SA<sup>1,2</sup> | 576586 | 10410 |
| Kingdee International Software Group Co., Ltd.<sup>1</sup> | 4786000 | 10188 |
| Dassault Systemes SE | 277000 | 9991 |
| ASM International NV | 25152 | 6368 |
| Infosys, Ltd. | 329392 | 5967 |
| Tata Consultancy Services, Ltd. | 113863 | 4483 |
| Canva, Inc.<sup>1,3,4</sup> | 4819 | 4282 |
| PagSeguro Digital, Ltd., Class A<sup>1</sup> | 426548 | 3728 |
|  |  | **923342** |
| **Health care 12.52%** |  |  |
| Daiichi Sankyo Company, Ltd. | 9749808 | 312457 |
| Novo Nordisk A/S, Class B | 1255260 | 169962 |
| Olympus Corp. | 5808100 | 102662 |
| Bayer AG | 841261 | 43436 |

---

<br> American Funds Insurance Series 65

International Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care (continued)** |  |  |
| Siemens Healthineers AG | 833668 | $41705 |
| Grifols, SA, Class A, non-registered shares<sup>1</sup> | 2789283 | 32345 |
| Grifols, SA, Class B (ADR)<sup>1</sup> | 793690 | 6747 |
| WuXi Biologics (Cayman), Inc.<sup>1</sup> | 2504066 | 19224 |
| HOYA Corp. | 198300 | 19187 |
| M3, Inc. | 644835 | 17566 |
| EssilorLuxottica | 80200 | 14604 |
| Insulet Corp.<sup>1</sup> | 46653 | 13734 |
| Takeda Pharmaceutical Company, Ltd. | 361300 | 11285 |
| Hapvida Participações e Investimentos SA<sup>1</sup> | 8863653 | 8528 |
| Ambu AS, Class B, non-registered shares<sup>1</sup> | 662880 | 8411 |
| Eurofins Scientific SE, non-registered shares | 98473 | 7091 |
| WuXi AppTec Co., Ltd., Class A | 288960 | 3345 |
| WuXi AppTec Co., Ltd., Class H | 312000 | 3297 |
| bioMérieux SA | 58300 | 6131 |
|  |  | **841717** |
| **Materials 10.64%** |  |  |
| First Quantum Minerals, Ltd. | 10951800 | 228823 |
| Fortescue Metals Group, Ltd. | 12796750 | 178403 |
| Vale SA (ADR), ordinary nominative shares | 6886607 | 116865 |
| Vale SA, ordinary nominative shares | 770681 | 12974 |
| Shin-Etsu Chemical Co., Ltd. | 563500 | 68654 |
| JSR Corp. | 1681700 | 33144 |
| Ivanhoe Mines, Ltd., Class A<sup>1</sup> | 3403051 | 26893 |
| Wacker Chemie AG | 147773 | 18887 |
| Linde PLC | 35287 | 11510 |
| Koninklijke DSM NV | 93550 | 11469 |
| BASF SE | 136760 | 6789 |
| Yunnan Energy New Material Co., Ltd., Class A | 19136 | 362 |
|  |  | **714773** |
| **Energy 10.48%** |  |  |
| Reliance Industries, Ltd. | 9393560 | 288158 |
| Canadian Natural Resources, Ltd. (CAD denominated) | 1562283 | 86756 |
| Neste OYJ | 1756952 | 81150 |
| Woodside Energy Group, Ltd. | 3071566 | 74317 |
| Petróleo Brasileiro SA (Petrobras) (ADR), ordinary nominative shares | 6724576 | 71617 |
| TotalEnergies SE | 1147298 | 71609 |
| Shell PLC (GBP denominated) | 573839 | 16307 |
| Cenovus Energy, Inc. (CAD denominated) | 725880 | 14084 |
|  |  | **703998** |
| **Consumer discretionary 9.06%** |  |  |
| MercadoLibre, Inc.<sup>1</sup> | 128451 | 108700 |
| Evolution AB | 960556 | 93812 |
| Sony Group Corp. | 920500 | 70194 |
| Galaxy Entertainment Group, Ltd. | 9204000 | 60944 |
| LVMH Moët Hennessy-Louis Vuitton SE | 72682 | 52799 |
| Flutter Entertainment PLC<sup>1</sup> | 313163 | 42911 |
| Ferrari NV (EUR denominated) | 177292 | 37933 |
| Kering SA | 70951 | 36312 |
| Maruti Suzuki India, Ltd. | 303300 | 30675 |
| Entain PLC | 1832094 | 29375 |
| Coupang, Inc., Class A<sup>1</sup> | 1304214 | 19185 |
| Mercedes-Benz Group AG | 136786 | 8976 |
| InterContinental Hotels Group PLC | 155468 | 8949 |
| Aptiv PLC<sup>1</sup> | 84000 | 7823 |
|  |  | **608588** |

---

<br> 66 American Funds Insurance Series

International Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Financials 9.05%** |  |  |
| Kotak Mahindra Bank, Ltd. | 7207964 | $158591 |
| AIA Group, Ltd. | 12210576 | 134524 |
| Aegon NV | 12263736 | 62212 |
| HDFC Bank, Ltd. | 2216455 | 43632 |
| HDFC Bank, Ltd. (ADR) | 207750 | 14212 |
| Nu Holdings, Ltd., Class A<sup>1</sup> | 8115368 | 33030 |
| Bajaj Finance, Ltd. | 396342 | 31369 |
| ING Groep NV | 2331678 | 28447 |
| Axis Bank, Ltd. | 1917190 | 21549 |
| FinecoBank SpA | 1211135 | 20184 |
| Futu Holdings, Ltd. (ADR)<sup>1</sup> | 375890 | 15280 |
| China Merchants Bank Co., Ltd., Class A | 2726800 | 14621 |
| B3 SA-Brasil, Bolsa, Balcao | 4413000 | 11041 |
| Allfunds Group PLC | 1266915 | 8853 |
| Bajaj Finserv, Ltd. | 325950 | 6074 |
| XP, Inc., Class A<sup>1</sup> | 292000 | 4479 |
|  |  | **608098** |
| **Communication services 6.20%** |  |  |
| Sea, Ltd., Class A (ADR)<sup>1</sup> | 3557478 | 185096 |
| Bharti Airtel, Ltd. | 12732125 | 123766 |
| Bharti Airtel, Ltd., interim shares | 836308 | 4373 |
| Universal Music Group NV | 1717633 | 41462 |
| Informa PLC | 3630108 | 27216 |
| Ubisoft Entertainment SA<sup>1</sup> | 518403 | 14715 |
| Singapore Telecommunications, Ltd. | 5800500 | 11136 |
| Vivendi SE | 907392 | 8683 |
| Yandex NV, Class A<sup>1,3</sup> | 313000 | —<sup>5</sup> |
|  |  | **416447** |
| **Consumer staples 4.31%** |  |  |
| Kweichow Moutai Co., Ltd., Class A | 224223 | 55485 |
| Danone SA | 878392 | 46277 |
| Seven & i Holdings Co., Ltd. | 984200 | 42102 |
| Treasury Wine Estates, Ltd. | 4139490 | 38250 |
| British American Tobacco PLC | 911000 | 36144 |
| Kobe Bussan Co., Ltd. | 754900 | 21791 |
| CP ALL PCL, foreign registered shares | 9053300 | 17849 |
| Nestlé SA | 78463 | 9061 |
| Dabur India, Ltd. | 933875 | 6324 |
| Shiseido Company, Ltd. | 122000 | 6012 |
| Essity Aktiebolag, Class B | 211237 | 5544 |
| Pernod Ricard SA | 22974 | 4516 |
| Diageo PLC | 13194 | 583 |
|  |  | **289938** |
| **Utilities 1.77%** |  |  |
| ENN Energy Holdings, Ltd. | 8532700 | **119038** |
| **Real estate 0.58%** |  |  |
| ESR Group, Ltd. | 14852600 | 31175 |
| Ayala Land, Inc. | 14181500 | 7891 |
|  |  | **39066** |
| **Total common stocks** (cost: $5,702,657,000) |  | **6383129** |
| **Preferred securities 0.79%** |  |  |
| **Health care 0.29%** |  |  |
| Grifols, SA, Class B, nonvoting non-registered preferred shares<sup>1</sup> | 2274930 | **19221** |

---

<br> American Funds Insurance Series 67

International Fund (continued)

---

| | | |
|:---|:---|:---|
| **Preferred securities** (continued) | Shares | Value<br> (000) |
| **Energy 0.20%** |  |  |
| Petróleo Brasileiro SA (Petrobras), preferred nominative shares | 2980131 | $**13829** |
| **Financials 0.16%** |  |  |
| Itaú Unibanco Holding SA, preferred nominative shares | 2246000 | **10635** |
| **Consumer discretionary 0.13%** |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares<sup>1</sup> | 88248 | **8953** |
| **Information technology 0.01%** |  |  |
| Canva, Inc., Series A, noncumulative preferred shares<sup>1,3,4</sup> | 422 | 375 |
| Canva, Inc., Series A-3, noncumulative preferred shares<sup>1,3,4</sup> | 18 | 16 |
| Canva, Inc., Series A-4, noncumulative preferred shares<sup>1,3,4</sup> | 1 | 1 |
|  |  | **392** |
| **Total preferred securities** (cost: $78,028,000) |  | **53030** |
| **Rights & warrants 0.13%** |  |  |
| **Health care 0.13%** |  |  |
| WuXi AppTec Co., Ltd., Class A, warrants, expire 11/21/2023<sup>1,6</sup> | 729706 | **8446** |
| **Total rights & warrants** (cost: $8,772,000) |  | **8446** |
| **Short-term securities 4.57%** |  |  |
| **Money market investments 4.55%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>7,8</sup> | 3060530 | **306023** |
| **Money market investments purchased with collateral from securities on loan 0.02%** |  |  |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>7,9</sup> | 603851 | 604 |
| Capital Group Central Cash Fund 4.31%<sup>7,8,9</sup> | 4223 | 422 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>7,9</sup> | 420189 | 420 |
|  |  | **1446** |
| **Total short-term securities** (cost: $307,420,000) |  | **307469** |
| **Total investment securities 100.48%** (cost: $6,096,877,000) |  | **6752074** |
| Other assets less liabilities (0.48)% |  | (32493) |
| **Net assets 100.00%** |  | $**6719581** |

---

<br> 68 American Funds Insurance Series

International Fund (continued)

**Investments in affiliates<sup>8</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 4.56%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 4.55%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7</sup> | $977398 | $1494158 | $2165364 | $(112) | $(57) | $306023 | $9392 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.01%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7,9</sup> | 34059 |  | 33637<sup>10</sup> |  |  | 422 | —<sup>11</sup> |
| **Total 4.56%** |  |  |  | $(112) | $(57) | $306445 | $9392 |

---

**Restricted securities<sup>4</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Acquisition**<br>**date(s)** |<br>**Cost**<br>**(000)** |<br>**Value**<br>**(000)** | **Percent**<br>**of net**<br>**assets** |
| Canva, Inc.<sup>1,3</sup> | 8/26/2021-11/4/2021 | $8215 | $4282 | .06% |
| Canva, Inc., Series A, noncumulative preferred shares<sup>1,3</sup> | 11/4/2021 | 719 | 375 | .01 |
| Canva, Inc., Series A-3, noncumulative preferred shares<sup>1,3</sup> | 11/4/2021 | 31 | 16 | .00 |
| Canva, Inc., Series A-4, noncumulative preferred shares<sup>1,3</sup> | 11/4/2021 | 2 | 1 | .00 |
| **Total** |  | $8967 | $4674 | .07% |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $1,530,000, which represented .02% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $4,674,000, which represented .07% of the net assets of the fund.

<sup>5</sup> Amount less than one thousand.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $8,446,000, which represented .13% of the net assets of the fund.

<sup>7</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>8</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>9</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>10</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>11</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

EUR = Euros

GBP = British pounds

Refer to the notes to financial statements.

American Funds Insurance Series 69

New World Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 90.37%** | Shares | Value<br> (000) |
| **Information technology 14.17%** |  |  |
| Microsoft Corp. | 343380 | $82348 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 3763000 | 54844 |
| Broadcom, Inc. | 50719 | 28359 |
| ASML Holding NV | 52210 | 28261 |
| Micron Technology, Inc. | 505143 | 25247 |
| Wolfspeed, Inc.<sup>1</sup> | 312105 | 21548 |
| Mastercard, Inc., Class A | 47073 | 16369 |
| Apple, Inc. | 114398 | 14864 |
| Tata Consultancy Services, Ltd. | 274095 | 10793 |
| Visa, Inc., Class A | 50545 | 10501 |
| Keyence Corp. | 23700 | 9279 |
| Infosys, Ltd. (ADR) | 342942 | 6176 |
| Infosys, Ltd. | 131247 | 2378 |
| SAP SE | 70089 | 7233 |
| Silergy Corp. | 459376 | 6514 |
| Synopsys, Inc.<sup>1</sup> | 20004 | 6387 |
| TELUS International (Cda), Inc., subordinate voting shares<sup>1</sup> | 321870 | 6370 |
| Samsung Electronics Co., Ltd. | 143145 | 6312 |
| NVIDIA Corp. | 42638 | 6231 |
| EPAM Systems, Inc.<sup>1</sup> | 18611 | 6100 |
| PagSeguro Digital, Ltd., Class A<sup>1</sup> | 674012 | 5891 |
| Edenred SA | 100382 | 5462 |
| Accenture PLC, Class A | 20142 | 5375 |
| Network International Holdings PLC<sup>1</sup> | 1472831 | 5275 |
| Nokia Corp. | 1113649 | 5174 |
| Tokyo Electron, Ltd. | 15700 | 4664 |
| Nice, Ltd. (ADR)<sup>1</sup> | 23806 | 4578 |
| Kingdee International Software Group Co., Ltd.<sup>1</sup> | 2128000 | 4530 |
| Lasertec Corp. | 27100 | 4501 |
| Amadeus IT Group SA, Class A, non-registered shares<sup>1</sup> | 70704 | 3646 |
| Applied Materials, Inc. | 36011 | 3507 |
| MediaTek, Inc. | 142000 | 2884 |
| ASM International NV | 10858 | 2749 |
| SK hynix, Inc. | 41006 | 2468 |
| Trimble, Inc.<sup>1</sup> | 41404 | 2093 |
| Logitech International SA | 31053 | 1927 |
| Euronet Worldwide, Inc.<sup>1</sup> | 19369 | 1828 |
| KLA Corp. | 4743 | 1788 |
| Coforge, Ltd. | 33028 | 1544 |
| Cognizant Technology Solutions Corp., Class A | 25905 | 1482 |
| Globant SA<sup>1</sup> | 8094 | 1361 |
| Hamamatsu Photonics KK | 25400 | 1222 |
| Hundsun Technologies, Inc., Class A | 198090 | 1153 |
| Atlassian Corp., Class A<sup>1</sup> | 8731 | 1124 |
| VeriSign, Inc.<sup>1</sup> | 4446 | 913 |
| MKS Instruments, Inc. | 8486 | 719 |
| StoneCo, Ltd., Class A<sup>1</sup> | 67249 | 635 |
| Autodesk, Inc.<sup>1</sup> | 3359 | 628 |
| Disco Corp. | 2100 | 604 |
| Advanced Micro Devices, Inc.<sup>1</sup> | 8455 | 548 |
| Canva, Inc.<sup>1,2,3</sup> | 385 | 342 |
| Intel Corp. | 3575 | 95 |
|  |  | **436824** |
| **Financials 13.94%** |  |  |
| Kotak Mahindra Bank, Ltd. | 2819943 | 62045 |
| AIA Group, Ltd. | 4251600 | 46840 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 4499844 | 29700 |
| HDFC Bank, Ltd. | 1423436 | 28021 |
| B3 SA-Brasil, Bolsa, Balcao | 10338358 | 25867 |
| Capitec Bank Holdings, Ltd. | 206384 | 22575 |
| Bajaj Finance, Ltd. | 215621 | 17066 |

---

<br> 70 American Funds Insurance Series

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Financials (continued)** |  |  |
| ICICI Bank, Ltd. | 967310 | $10368 |
| ICICI Bank, Ltd. (ADR) | 290583 | 6361 |
| AU Small Finance Bank, Ltd. | 1923084 | 15145 |
| Bank Central Asia Tbk PT | 20947600 | 11484 |
| UniCredit SpA | 750471 | 10672 |
| Industrial and Commercial Bank of China, Ltd., Class H | 20423000 | 10519 |
| Nu Holdings, Ltd., Class A<sup>1</sup> | 2383890 | 9702 |
| Bank Mandiri (Persero) Tbk PT | 15218600 | 9671 |
| XP, Inc., Class A<sup>1</sup> | 602058 | 9236 |
| China Merchants Bank Co., Ltd., Class H | 1461000 | 8099 |
| Discovery, Ltd.<sup>1</sup> | 1031032 | 7486 |
| Banco Bilbao Vizcaya Argentaria, SA | 1202030 | 7259 |
| Bank Rakyat Indonesia (Persero) Tbk PT | 19736600 | 6257 |
| Eurobank Ergasias Services and Holdings SA<sup>1</sup> | 5321431 | 6007 |
| Bank of Baroda | 2476327 | 5528 |
| Moody's Corp. | 17666 | 4922 |
| United Overseas Bank, Ltd. | 191900 | 4401 |
| Canara Bank | 1094165 | 4386 |
| Erste Group Bank AG | 135838 | 4332 |
| East Money Information Co., Ltd., Class A | 1416356 | 3955 |
| Alpha Services and Holdings SA<sup>1</sup> | 3535444 | 3772 |
| Hong Kong Exchanges and Clearing, Ltd. | 76500 | 3306 |
| Bajaj Finserv, Ltd. | 176756 | 3294 |
| Standard Bank Group, Ltd. | 330214 | 3261 |
| Aon PLC, Class A | 10455 | 3138 |
| DBS Group Holdings, Ltd. | 122873 | 3111 |
| Grupo Financiero Banorte, SAB de CV, Series O | 393905 | 2828 |
| China Pacific Insurance (Group) Co., Ltd., Class H | 1158294 | 2558 |
| Postal Savings Bank of China Co., Ltd., Class H | 3919000 | 2421 |
| Bank of Ningbo Co., Ltd., Class A | 498700 | 2329 |
| S&P Global, Inc. | 6883 | 2305 |
| National Bank of Greece SA<sup>1</sup> | 482747 | 1931 |
| Piramal Enterprises, Ltd. | 169260 | 1690 |
| Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México, Class B | 1294654 | 1515 |
| Lufax Holding, Ltd. (ADR) | 751404 | 1458 |
| China Construction Bank Corp., Class H | 2110000 | 1322 |
| TISCO Financial Group PCL, foreign registered shares | 343800 | 983 |
| Fairfax Financial Holdings, Ltd., subordinate voting shares | 1008 | 597 |
| HDFC Life Insurance Company, Ltd. | 23813 | 162 |
| Moscow Exchange MICEX-RTS PJSC<sup>1,2</sup> | 438203 | —<sup>4</sup> |
| Sberbank of Russia PJSC<sup>1,2</sup> | 2662164 | —<sup>4</sup> |
|  |  | **429885** |
| **Health care 13.14%** |  |  |
| Novo Nordisk A/S, Class B | 469272 | 63539 |
| Thermo Fisher Scientific, Inc. | 72737 | 40056 |
| Eli Lilly and Company | 98730 | 36119 |
| AstraZeneca PLC | 199832 | 27120 |
| Max Healthcare Institute, Ltd.<sup>1</sup> | 4642420 | 24670 |
| PerkinElmer, Inc. | 129804 | 18201 |
| Abbott Laboratories | 165381 | 18157 |
| BeiGene, Ltd. (ADR)<sup>1</sup> | 65681 | 14446 |
| BeiGene, Ltd.<sup>1</sup> | 44100 | 753 |
| Jiangsu Hengrui Medicine Co., Ltd., Class A | 2545088 | 14110 |
| EssilorLuxottica | 72078 | 13125 |
| Danaher Corp. | 48758 | 12941 |
| Rede D'Or Sao Luiz SA | 1633717 | 9153 |
| Hypera SA, ordinary nominative shares | 1024373 | 8770 |
| Pfizer, Inc. | 167880 | 8602 |
| Laurus Labs, Ltd. | 1901101 | 8597 |
| WuXi Biologics (Cayman), Inc.<sup>1</sup> | 1102600 | 8465 |

---

<br> American Funds Insurance Series 71

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care (continued)** |  |  |
| CSL, Ltd. | 41156 | $8025 |
| Olympus Corp. | 386100 | 6825 |
| Carl Zeiss Meditec AG, non-registered shares | 52892 | 6676 |
| CanSino Biologics, Inc., Class H | 673696 | 5763 |
| WuXi AppTec Co., Ltd., Class H | 268500 | 2837 |
| WuXi AppTec Co., Ltd., Class A | 203359 | 2354 |
| Siemens Healthineers AG | 100533 | 5029 |
| Hapvida Participações e Investimentos SA<sup>1</sup> | 4948421 | 4761 |
| Zoetis, Inc., Class A | 31997 | 4689 |
| Innovent Biologics, Inc.<sup>1</sup> | 1062373 | 4561 |
| Straumann Holding AG | 28092 | 3181 |
| Legend Biotech Corp. (ADR)<sup>1</sup> | 63359 | 3163 |
| Hutchmed China, Ltd.<sup>1,5</sup> | 786002 | 2418 |
| Shionogi & Co., Ltd. | 46400 | 2308 |
| Teva Pharmaceutical Industries, Ltd. (ADR)<sup>1</sup> | 238996 | 2180 |
| Mettler-Toledo International, Inc.<sup>1</sup> | 1435 | 2074 |
| OdontoPrev SA, ordinary nominative shares | 1000547 | 1711 |
| Align Technology, Inc.<sup>1</sup> | 7299 | 1539 |
| Asahi Intecc Co., Ltd. | 91600 | 1510 |
| Genus PLC | 40970 | 1477 |
| Angelalign Technology, Inc. | 85000 | 1340 |
| Medtronic PLC | 16413 | 1276 |
| Merck KGaA | 5502 | 1066 |
| Bayer AG | 16010 | 827 |
| Zai Lab, Ltd. (ADR)<sup>1</sup> | 16060 | 493 |
| Shandong Pharmaceutical Glass Co., Ltd., Class A | 66700 | 272 |
|  |  | **405179** |
| **Industrials 10.83%** |  |  |
| Airbus SE, non-registered shares | 370290 | 44028 |
| General Electric Co. | 229310 | 19214 |
| Larsen & Toubro, Ltd. | 722885 | 18180 |
| Safran SA | 141435 | 17674 |
| IMCD NV | 113074 | 16151 |
| DSV A/S | 97381 | 15445 |
| Shenzhen Inovance Technology Co., Ltd., Class A | 1435674 | 14359 |
| Copa Holdings, SA, Class A<sup>1</sup> | 172274 | 14328 |
| Carrier Global Corp. | 342044 | 14109 |
| International Container Terminal Services, Inc. | 3660200 | 13173 |
| Grab Holdings, Ltd., Class A<sup>1</sup> | 3941298 | 12691 |
| Rumo SA | 3544401 | 12493 |
| Caterpillar, Inc. | 38431 | 9207 |
| ZTO Express (Cayman), Inc., Class A (ADR) | 294858 | 7923 |
| Daikin Industries, Ltd. | 45200 | 6953 |
| Mitsui & Co., Ltd. | 239100 | 6952 |
| InPost SA<sup>1</sup> | 768099 | 6492 |
| TransDigm Group, Inc. | 9831 | 6190 |
| Zhejiang Sanhua Intelligent Controls Co., Ltd., Class A | 2015524 | 6140 |
| Suzhou Maxwell Technologies Co., Ltd., Class A | 89800 | 5321 |
| Thales SA | 39462 | 5045 |
| Interpump Group SpA | 109354 | 4954 |
| Boeing Company<sup>1</sup> | 25403 | 4839 |
| Raytheon Technologies Corp. | 39064 | 3942 |
| Contemporary Amperex Technology Co., Ltd., Class A | 67547 | 3825 |
| Wizz Air Holdings PLC<sup>1</sup> | 153309 | 3512 |
| Siemens AG | 24155 | 3353 |
| Centre Testing International Group Co., Ltd. | 953496 | 3059 |
| SMC Corp. | 7000 | 2963 |
| BAE Systems PLC | 273358 | 2825 |
| Spirax-Sarco Engineering PLC | 21156 | 2718 |
| Epiroc AB, Class B | 153337 | 2472 |
| Bharat Electronics, Ltd. | 1997357 | 2412 |

---

<br> 72 American Funds Insurance Series

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Industrials (continued)** |  |  |
| Legrand SA | 28999 | $2335 |
| Bureau Veritas SA | 85112 | 2240 |
| ABB, Ltd. | 71165 | 2168 |
| AirTAC International Group | 70000 | 2119 |
| Techtronic Industries Co., Ltd. | 180500 | 2010 |
| Grupo Aeroportuario del Pacífico, SAB de CV, Class B | 138094 | 1978 |
| Hitachi, Ltd. | 32800 | 1651 |
| Atlas Copco AB, Class B | 128644 | 1374 |
| Nidec Corp. | 25100 | 1307 |
| Haitian International Holdings, Ltd. | 485000 | 1297 |
| Experian PLC | 27683 | 942 |
| CCR SA, ordinary nominative shares | 343384 | 704 |
| Vicor Corp.<sup>1</sup> | 8616 | 463 |
| Hefei Meyer Optoelectronic Technology, Inc., Class A | 126100 | 434 |
|  |  | **333964** |
| **Consumer discretionary 10.70%** |  |  |
| LVMH Moët Hennessy-Louis Vuitton SE | 58437 | 42451 |
| MercadoLibre, Inc.<sup>1</sup> | 33916 | 28701 |
| Midea Group Co., Ltd., Class A | 3015168 | 22397 |
| Hermès International | 13597 | 20982 |
| Evolution AB | 195296 | 19073 |
| Li Ning Co., Ltd. | 2222001 | 19068 |
| Galaxy Entertainment Group, Ltd. | 2661000 | 17620 |
| General Motors Company | 464326 | 15620 |
| H World Group, Ltd. (ADR) | 205118 | 8701 |
| H World Group, Ltd. | 611320 | 2631 |
| YUM! Brands, Inc. | 70324 | 9007 |
| Trip.com Group, Ltd. (ADR)<sup>1</sup> | 243784 | 8386 |
| Zhongsheng Group Holdings, Ltd. | 1519000 | 7743 |
| Kering SA | 13551 | 6935 |
| NIKE, Inc., Class B | 56533 | 6615 |
| Jumbo SA | 367791 | 6278 |
| Astra International Tbk PT | 16312800 | 5943 |
| IDP Education, Ltd. | 294204 | 5437 |
| Industria de Diseño Textil, SA | 198585 | 5288 |
| Marriott International, Inc., Class A | 35444 | 5277 |
| JD.com, Inc., Class A | 181431 | 5100 |
| Titan Co., Ltd. | 153168 | 4794 |
| Tesla, Inc.<sup>1</sup> | 36323 | 4474 |
| adidas AG | 32573 | 4447 |
| Prosus NV, Class N | 63003 | 4325 |
| Alibaba Group Holding, Ltd.<sup>1</sup> | 377472 | 4168 |
| Americanas SA, ordinary nominative shares | 1839202 | 3362 |
| Lear Corp. | 22412 | 2779 |
| Airbnb, Inc., Class A<sup>1</sup> | 32220 | 2755 |
| Melco Resorts & Entertainment, Ltd. (ADR)<sup>1</sup> | 237753 | 2734 |
| Maruti Suzuki India, Ltd. | 24671 | 2495 |
| Aptiv PLC<sup>1</sup> | 23648 | 2202 |
| Booking Holdings, Inc.<sup>1</sup> | 1083 | 2183 |
| InterContinental Hotels Group PLC | 37749 | 2173 |
| JD Health International, Inc.<sup>1</sup> | 233200 | 2133 |
| Naspers, Ltd., Class N | 10720 | 1767 |
| Stellantis NV | 121859 | 1726 |
| Inchcape PLC | 158322 | 1563 |
| Shangri-La Asia, Ltd.<sup>1</sup> | 1882000 | 1542 |
| Magazine Luiza SA<sup>1</sup> | 2856097 | 1482 |
| Levi Strauss & Co., Class A | 89390 | 1387 |
| Sands China, Ltd.<sup>1</sup> | 367200 | 1216 |
| Renault SA<sup>1</sup> | 31040 | 1034 |
| FSN E-Commerce Ventures, Ltd. | 499594 | 932 |
| Flutter Entertainment PLC<sup>1</sup> | 6201 | 850 |

---

<br> American Funds Insurance Series 73

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer discretionary (continued)** |  |  |
| Cie. Financière Richemont SA, Class A | 6488 | $840 |
| Gree Electric Appliances, Inc. of Zhuhai, Class A | 132946 | 617 |
| Jiumaojiu International Holdings, Ltd. | 196000 | 517 |
| Cyrela Brazil Realty SA, ordinary nominative shares | 115141 | 285 |
| Ozon Holdings PLC (ADR)<sup>1,2</sup> | 209599 | —<sup>4</sup> |
|  |  | **330035** |
| **Materials 7.96%** |  |  |
| Vale SA (ADR), ordinary nominative shares | 1657863 | 28134 |
| Vale SA, ordinary nominative shares | 1563228 | 26316 |
| First Quantum Minerals, Ltd. | 1427502 | 29826 |
| Freeport-McMoRan, Inc. | 632561 | 24037 |
| Asian Paints, Ltd. | 524675 | 19588 |
| Albemarle Corp. | 72979 | 15826 |
| Linde PLC | 43780 | 14280 |
| Sika AG | 54150 | 13066 |
| Pidilite Industries, Ltd. | 359013 | 11037 |
| Barrick Gold Corp. | 348685 | 5990 |
| Shin-Etsu Chemical Co., Ltd. | 46300 | 5641 |
| LANXESS AG | 133996 | 5408 |
| Sociedad Química y Minera de Chile SA, Class B (ADR) | 59883 | 4781 |
| Wacker Chemie AG | 33237 | 4248 |
| Gerdau SA (ADR) | 743704 | 4120 |
| Givaudan SA | 1316 | 4012 |
| Loma Negra Compania Industrial Argentina SA (ADR) | 505941 | 3466 |
| Fresnillo PLC | 299094 | 3247 |
| Jindal Steel & Power, Ltd. | 427648 | 2989 |
| Shandong Sinocera Functional Material Co., Ltd., Class A | 551700 | 2189 |
| Wheaton Precious Metals Corp. | 52459 | 2050 |
| OCI NV | 50734 | 1810 |
| Amcor PLC (CDI) | 142086 | 1703 |
| Arkema SA | 18241 | 1645 |
| CCL Industries, Inc., Class B, nonvoting shares | 34789 | 1486 |
| Umicore SA | 37150 | 1371 |
| Koninklijke DSM NV | 11145 | 1366 |
| Grupo México, SAB de CV, Series B | 372626 | 1308 |
| Corteva, Inc. | 19893 | 1169 |
| Glencore PLC | 166729 | 1115 |
| Yunnan Energy New Material Co., Ltd., Class A | 53564 | 1012 |
| BASF SE | 13092 | 650 |
| Navin Fluorine International, Ltd. | 7411 | 364 |
| Polymetal International PLC<sup>1</sup> | 76572 | 228 |
| Alrosa PJSC<sup>1,2</sup> | 1123215 | —<sup>4</sup> |
|  |  | **245478** |
| **Consumer staples 6.23%** |  |  |
| Kweichow Moutai Co., Ltd., Class A | 119607 | 29597 |
| ITC, Ltd. | 4065758 | 16297 |
| Bunge, Ltd. | 149915 | 14957 |
| Anheuser-Busch InBev SA/NV | 179767 | 10807 |
| Nestlé SA | 92198 | 10648 |
| Constellation Brands, Inc., Class A | 41910 | 9713 |
| Philip Morris International, Inc. | 89011 | 9009 |
| Varun Beverages, Ltd. | 520713 | 8291 |
| Ajinomoto Co., Inc. | 270999 | 8263 |
| Monster Beverage Corp.<sup>1</sup> | 79331 | 8054 |
| Carlsberg A/S, Class B | 47845 | 6334 |
| Kimberly-Clark de México, SAB de CV, Class A, ordinary participation certificates | 3616697 | 6138 |
| Pernod Ricard SA | 31035 | 6100 |
| Raia Drogasil SA, ordinary nominative shares | 1191066 | 5351 |
| Avenue Supermarts, Ltd.<sup>1</sup> | 96957 | 4752 |
| Japan Tobacco, Inc. | 232900 | 4709 |

---

<br> 74 American Funds Insurance Series

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer staples (continued)** |  |  |
| Arca Continental, SAB de CV | 559188 | $4541 |
| Dabur India, Ltd. | 536320 | 3632 |
| Uni-Charm Corp. | 86000 | 3298 |
| Mondelez International, Inc. | 48376 | 3224 |
| British American Tobacco PLC | 57762 | 2292 |
| L'Oréal SA, non-registered shares | 6141 | 2203 |
| Foshan Haitian Flavouring and Food Co., Ltd., Class A | 189896 | 2174 |
| Proya Cosmetics Co., Ltd., Class A | 83620 | 2015 |
| Danone SA | 34906 | 1839 |
| United Spirits, Ltd.<sup>1</sup> | 150135 | 1593 |
| Essity Aktiebolag, Class B | 59261 | 1555 |
| Monde Nissin Corp. | 7788000 | 1553 |
| Wuliangye Yibin Co., Ltd., Class A | 51771 | 1340 |
| Reckitt Benckiser Group PLC | 18928 | 1317 |
| Diageo PLC | 9646 | 426 |
| X5 Retail Group NV (GDR)<sup>1,2</sup> | 88147 | —<sup>4</sup> |
|  |  | **192022** |
| **Communication services 5.12%** |  |  |
| Sea, Ltd., Class A (ADR)<sup>1</sup> | 440837 | 22937 |
| Alphabet, Inc., Class C<sup>1</sup> | 170931 | 15167 |
| Alphabet, Inc., Class A<sup>1</sup> | 70628 | 6231 |
| Bharti Airtel, Ltd. | 1936137 | 18821 |
| Bharti Airtel, Ltd., interim shares | 80154 | 419 |
| Tencent Holdings, Ltd. | 398700 | 16946 |
| MTN Group, Ltd. | 1937113 | 14510 |
| América Móvil, SAB de CV, Series L (ADR) | 579878 | 10554 |
| Netflix, Inc.<sup>1</sup> | 32399 | 9554 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 66844 | 8044 |
| Telefónica, SA, non-registered shares | 2013890 | 7294 |
| NetEase, Inc. | 215200 | 3137 |
| NetEase, Inc. (ADR) | 26801 | 1946 |
| Vodafone Group PLC | 4478968 | 4540 |
| Indus Towers, Ltd. | 1704995 | 3916 |
| Activision Blizzard, Inc. | 51137 | 3914 |
| Singapore Telecommunications, Ltd. | 1920800 | 3688 |
| JCDecaux SE<sup>1</sup> | 88804 | 1689 |
| Telefônica Brasil SA, ordinary nominative shares | 222879 | 1619 |
| TIM SA | 649389 | 1525 |
| Informa PLC | 166372 | 1247 |
| Sitios Latinoamerica, SAB de CV, Class B1<sup>1</sup> | 531908 | 255 |
| Yandex NV, Class A<sup>1,2</sup> | 378730 | —<sup>4</sup> |
|  |  | **157953** |
| **Energy 4.96%** |  |  |
| Reliance Industries, Ltd. | 1922257 | 58967 |
| TotalEnergies SE | 429775 | 26824 |
| Baker Hughes Co., Class A | 400704 | 11833 |
| New Fortress Energy, Inc., Class A | 199711 | 8472 |
| BP PLC | 1438591 | 8366 |
| Exxon Mobil Corp. | 66625 | 7349 |
| Hess Corp. | 42526 | 6031 |
| Cheniere Energy, Inc. | 33338 | 4999 |
| Aker BP ASA | 160241 | 4995 |
| Chevron Corp. | 24508 | 4399 |
| Petróleo Brasileiro SA (Petrobras) (ADR), ordinary nominative shares | 240586 | 2562 |
| Shell PLC (GBP denominated) | 88634 | 2519 |
| INPEX Corp. | 229000 | 2444 |
| TechnipFMC PLC<sup>1</sup> | 171689 | 2093 |

---

<br> American Funds Insurance Series 75

New World Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Energy (continued)** |  |  |
| Galp Energia, SGPS, SA, Class B | 76673 | $1037 |
| Gazprom PJSC<sup>2</sup> | 945858 | —<sup>4</sup> |
| Rosneft Oil Co. PJSC<sup>2</sup> | 588661 | —<sup>4</sup> |
|  |  | **152890** |
| **Utilities 1.73%** |  |  |
| ENN Energy Holdings, Ltd. | 1596100 | 22267 |
| AES Corp. | 494900 | 14233 |
| Engie SA | 433528 | 6210 |
| Enel SpA | 717325 | 3858 |
| Power Grid Corporation of India, Ltd. | 1407075 | 3622 |
| China Resources Gas Group, Ltd. | 848600 | 3161 |
| China Gas Holdings, Ltd. | 67400 | 97 |
|  |  | **53448** |
| **Real estate 1.59%** |  |  |
| Macrotech Developers, Ltd.<sup>1</sup> | 1294321 | 17070 |
| American Tower Corp. REIT | 36333 | 7698 |
| ESR Group, Ltd. | 2725200 | 5720 |
| CK Asset Holdings, Ltd. | 920500 | 5667 |
| BR Malls Participações SA, ordinary nominative shares | 3350637 | 5267 |
| China Resources Mixc Lifestyle Services, Ltd. | 550000 | 2794 |
| CTP NV | 192994 | 2273 |
| Embassy Office Parks REIT | 367228 | 1490 |
| China Overseas Land & Investment, Ltd. | 222115 | 586 |
| Country Garden Services Holdings Co., Ltd. | 180000 | 446 |
| Ayala Land, Inc. | 198600 | 110 |
|  |  | **49121** |
| **Total common stocks** (cost: $2,233,829,000) |  | **2786799** |
| **Preferred securities 1.05%** |  |  |
| **Consumer discretionary 0.38%** |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares<sup>1</sup> | 43971 | 4461 |
| Getir BV, Series D, preferred shares<sup>1,2,3</sup> | 7768 | 3736 |
| Porsche Automobil Holding SE, nonvoting preferred shares | 60985 | 3346 |
|  |  | **11543** |
| **Materials 0.28%** |  |  |
| Gerdau SA, preferred nominative shares | 1533179 | **8529** |
| **Real estate 0.17%** |  |  |
| QuintoAndar, Ltd., Series E, preferred shares<sup>1,2,3</sup> | 32657 | 4267 |
| QuintoAndar, Ltd., Series E-1, preferred shares<sup>1,2,3</sup> | 8400 | 1098 |
|  |  | **5365** |
| **Financials 0.13%** |  |  |
| Itaú Unibanco Holding SA, preferred nominative shares | 339548 | 1608 |
| Itaú Unibanco Holding SA (ADR), preferred nominative shares | 151962 | 716 |
| Banco Bradesco SA, preferred nominative shares | 619768 | 1778 |
|  |  | **4102** |
| **Energy 0.06%** |  |  |
| Petróleo Brasileiro SA (Petrobras) (ADR), preferred nominative shares | 129613 | 1204 |
| Petróleo Brasileiro SA (Petrobras), preferred nominative shares | 156248 | 725 |
|  |  | **1929** |
| **Health care 0.02%** |  |  |
| Grifols, SA, Class B, nonvoting non-registered preferred shares<sup>1</sup> | 71554 | **605** |

---

<br> 76 American Funds Insurance Series

New World Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Preferred securities** (continued) | Shares | Shares | Value<br> (000) |
| **Industrials 0.01%** |  |  |  |
| GOL Linhas Aéreas Inteligentes SA, preferred nominative shares<sup>1</sup> |  | 169406 | $**235** |
| **Information technology 0.00%** |  |  |  |
| Canva, Inc., Series A, noncumulative preferred shares<sup>1,2,3</sup> |  | 34 | 30 |
| Canva, Inc., Series A-3, noncumulative preferred shares<sup>1,2,3</sup> |  | 1 | 1 |
|  |  |  | **31** |
| **Total preferred securities** (cost: $30,813,000) |  |  | **32339** |
| **Rights & warrants 0.00%** |  |  |  |
| **Materials 0.00%** |  |  |  |
| Shandong Sinocera Functional Material Co., Ltd., Class A, warrants, expire 10/30/2023<sup>1,6</sup> |  | 43474 | **172** |
| **Consumer discretionary 0.00%** |  |  |  |
| Compagnie Financière Richemont SA, Class A, warrants, expire 11/22/2023<sup>1</sup> |  | 37386 | **31** |
| **Total rights & warrants** (cost: $183,000) |  |  | **203** |
| **Bonds, notes & other debt instruments 3.26%** | Principal amount<br> (000) | Principal amount<br> (000) |  |
| **Bonds & notes of governments & government agencies outside the U.S. 2.66%** |  |  |  |
| Abu Dhabi (Emirate of) 2.50% 9/30/2029<sup>6</sup> | USD | 1000 | 899 |
| Abu Dhabi (Emirate of) 1.70% 3/2/2031<sup>6</sup> |  | 885 | 732 |
| Angola (Republic of) 8.25% 5/9/2028 |  | 500 | 457 |
| Angola (Republic of) 8.00% 11/26/2029<sup>6</sup> |  | 1100 | 968 |
| Angola (Republic of) 8.75% 4/14/2032<sup>6</sup> |  | 280 | 243 |
| Argentine Republic 1.00% 7/9/2029 |  | 32 | 9 |
| Argentine Republic 0.50% 7/9/2030 (0.75% on 7/9/2023)<sup>7</sup> |  | 5341 | 1454 |
| Argentine Republic 1.50% 7/9/2035 (3.625% on 7/9/2023)<sup>7</sup> |  | 2217 | 568 |
| Argentine Republic 3.875% 1/9/2038 (4.25% on 7/9/2023)<sup>7</sup> |  | 1318 | 420 |
| Argentine Republic 3.50% 7/9/2041 (4.875% on 7/9/2029)<sup>7</sup> |  | 5279 | 1502 |
| Armenia (Republic of) 7.15% 3/26/2025 |  | 290 | 294 |
| Bahrain (Kingdom of) 6.75% 9/20/2029<sup>6</sup> |  | 200 | 200 |
| Brazil (Federative Republic of) 10.00% 1/1/2027 | BRL | 19869 | 3461 |
| Brazil (Federative Republic of) 6.00% 5/15/2027<sup>8</sup> |  | 16377 | 3109 |
| Chile (Republic of) 3.10% 5/7/2041 | USD | 375 | 271 |
| Chile (Republic of) 4.34% 3/7/2042 |  | 645 | 547 |
| China (People's Republic of), Series INBK, 2.89% 11/18/2031 | CNY | 36200 | 5205 |
| China (People's Republic of), Series INBK, 3.72% 4/12/2051 |  | 34650 | 5410 |
| Colombia (Republic of) 4.50% 1/28/2026 | USD | 280 | 264 |
| Colombia (Republic of) 3.25% 4/22/2032 |  | 700 | 511 |
| Colombia (Republic of) 8.00% 4/20/2033 |  | 200 | 201 |
| Colombia (Republic of) 7.375% 9/18/2037 |  | 1090 | 1025 |
| Colombia (Republic of) 5.625% 2/26/2044 |  | 520 | 384 |
| Colombia (Republic of) 5.20% 5/15/2049 |  | 755 | 517 |
| Colombia (Republic of) 4.125% 5/15/2051 |  | 350 | 211 |
| Cote d'Ivoire (Republic of) 4.875% 1/30/2032 | EUR | 150 | 127 |
| Dominican Republic 6.875% 1/29/2026 | USD | 370 | 374 |
| Dominican Republic 8.625% 4/20/2027<sup>6</sup> |  | 575 | 600 |
| Dominican Republic 5.50% 2/22/2029<sup>6</sup> |  | 275 | 254 |
| Dominican Republic 11.375% 7/6/2029 | DOP | 12800 | 221 |
| Dominican Republic 6.00% 2/22/2033<sup>6</sup> | USD | 150 | 136 |
| Dominican Republic 7.45% 4/30/2044<sup>6</sup> |  | 1125 | 1053 |
| Dominican Republic 7.45% 4/30/2044 |  | 1000 | 936 |
| Dominican Republic 5.875% 1/30/2060<sup>6</sup> |  | 280 | 206 |
| Egypt (Arab Republic of) 5.875% 2/16/2031<sup>6</sup> |  | 365 | 255 |

---

<br> American Funds Insurance Series 77

New World Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** |  |  |  |
| Egypt (Arab Republic of) 6.375% 4/11/2031 | EUR | 550 | $411 |
| Egypt (Arab Republic of) 7.625% 5/29/2032<sup>6</sup> | USD | 900 | 669 |
| Egypt (Arab Republic of) 7.625% 5/29/2032 |  | 275 | 204 |
| Egypt (Arab Republic of) 8.50% 1/31/2047 |  | 800 | 536 |
| Egypt (Arab Republic of) 8.875% 5/29/2050 |  | 850 | 578 |
| Egypt (Arab Republic of) 8.75% 9/30/2051 |  | 755 | 510 |
| Egypt (Arab Republic of) 8.15% 11/20/2059<sup>6</sup> |  | 500 | 329 |
| Ethiopia (Federal Democratic Republic of) 6.625% 12/11/2024 |  | 880 | 553 |
| Export-Import Bank of India 3.25% 1/15/2030 |  | 1180 | 1025 |
| Gabonese Republic 6.95% 6/16/2025 |  | 540 | 513 |
| Gabonese Republic 7.00% 11/24/2031 |  | 300 | 247 |
| Ghana (Republic of) 6.375% 2/11/2027 |  | 485 | 188 |
| Ghana (Republic of) 7.875% 3/26/2027 |  | 200 | 79 |
| Ghana (Republic of) 7.75% 4/7/2029<sup>6</sup> |  | 1125 | 423 |
| Ghana (Republic of) 7.625% 5/16/2029 |  | 460 | 174 |
| Ghana (Republic of) 8.125% 3/26/2032 |  | 2130 | 782 |
| Honduras (Republic of) 6.25% 1/19/2027 |  | 1365 | 1208 |
| Honduras (Republic of) 5.625% 6/24/2030 |  | 678 | 547 |
| Honduras (Republic of) 5.625% 6/24/2030<sup>6</sup> |  | 281 | 227 |
| Indonesia (Republic of) 6.625% 2/17/2037 |  | 500 | 568 |
| Indonesia (Republic of) 5.25% 1/17/2042 |  | 840 | 828 |
| Iraq (Republic of) 6.752% 3/9/2023 |  | 960 | 950 |
| Jordan (Hashemite Kingdom of) 5.75% 1/31/2027<sup>6</sup> |  | 800 | 773 |
| Kazakhstan (Republic of) 6.50% 7/21/2045<sup>6</sup> |  | 800 | 836 |
| Kenya (Republic of) 6.875% 6/24/2024 |  | 200 | 185 |
| Kenya (Republic of) 8.25% 2/28/2048<sup>6</sup> |  | 1800 | 1402 |
| Mongolia (State of) 8.75% 3/9/2024 |  | 370 | 359 |
| Mongolia (State of) 4.45% 7/7/2031 |  | 300 | 234 |
| Mozambique (Republic of) 5.00% 9/15/2031 (9.00% on 9/15/2023)<sup>7</sup> |  | 880 | 678 |
| Oman (Sultanate of) 4.875% 2/1/2025<sup>6</sup> |  | 565 | 556 |
| Oman (Sultanate of) 5.375% 3/8/2027 |  | 750 | 736 |
| Oman (Sultanate of) 6.25% 1/25/2031<sup>6</sup> |  | 600 | 606 |
| Pakistan (Islamic Republic of) 8.25% 9/30/2025<sup>6</sup> |  | 410 | 199 |
| Pakistan (Islamic Republic of) 6.00% 4/8/2026<sup>6</sup> |  | 380 | 153 |
| Pakistan (Islamic Republic of) 6.875% 12/5/2027<sup>6</sup> |  | 1050 | 416 |
| Pakistan (Islamic Republic of) 7.875% 3/31/2036 |  | 200 | 72 |
| Pakistan (Islamic Republic of) 8.875% 4/8/2051 |  | 850 | 300 |
| Panama (Republic of) 3.75% 4/17/2026<sup>6</sup> |  | 678 | 639 |
| Panama (Republic of) 4.50% 5/15/2047 |  | 1155 | 892 |
| Panama (Republic of) 4.50% 4/16/2050 |  | 200 | 152 |
| Panama (Republic of) 4.30% 4/29/2053 |  | 400 | 290 |
| Panama (Republic of) 4.50% 1/19/2063 |  | 200 | 142 |
| Paraguay (Republic of) 4.70% 3/27/2027<sup>6</sup> |  | 400 | 395 |
| Paraguay (Republic of) 4.95% 4/28/2031 |  | 320 | 310 |
| Peru (Republic of) 3.00% 1/15/2034 |  | 425 | 336 |
| Peru (Republic of) 6.55% 3/14/2037 |  | 1070 | 1131 |
| Peru (Republic of) 3.55% 3/10/2051 |  | 370 | 265 |
| Peru (Republic of) 2.78% 12/1/2060 |  | 365 | 214 |
| PETRONAS Capital, Ltd. 4.55% 4/21/2050<sup>6</sup> |  | 400 | 359 |
| Philippines (Republic of) 1.648% 6/10/2031 |  | 580 | 465 |
| Philippines (Republic of) 6.375% 10/23/2034 |  | 820 | 911 |
| Philippines (Republic of) 3.95% 1/20/2040 |  | 700 | 595 |
| Philippines (Republic of) 3.70% 3/1/2041 |  | 505 | 414 |
| Philippines (Republic of) 2.95% 5/5/2045 |  | 790 | 572 |
| PT Indonesia Asahan Aluminium Tbk 6.757% 11/15/2048 |  | 200 | 188 |
| Qatar (State of) 4.50% 4/23/2028<sup>6</sup> |  | 2000 | 2016 |
| Qatar (State of) 4.50% 4/23/2028 |  | 600 | 605 |
| Romania 2.00% 1/28/2032 | EUR | 1375 | 987 |
| Romania 2.00% 4/14/2033 |  | 300 | 207 |
| Romania 5.125% 6/15/2048<sup>6</sup> | USD | 500 | 399 |
| Russian Federation 4.25% 6/23/2027<sup>9</sup> |  | 1000 | 430 |

---

<br> 78 American Funds Insurance Series

New World Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** |  |  |  |
| Russian Federation 4.375% 3/21/2029<sup>6,9</sup> | USD | 800 | $328 |
| Russian Federation 5.10% 3/28/2035<sup>9</sup> |  | 1600 | 656 |
| Russian Federation 5.25% 6/23/2047<sup>9</sup> |  | 1200 | 492 |
| Senegal (Republic of) 4.75% 3/13/2028 | EUR | 950 | 880 |
| South Africa (Republic of) 5.875% 6/22/2030 | USD | 1200 | 1120 |
| South Africa (Republic of) 5.875% 4/20/2032 |  | 400 | 362 |
| Sri Lanka (Democratic Socialist Republic of) 6.125% 6/3/2025<sup>9</sup> |  | 450 | 147 |
| Sri Lanka (Democratic Socialist Republic of) 6.85% 11/3/2025<sup>9</sup> |  | 1904 | 614 |
| Sri Lanka (Democratic Socialist Republic of) 6.825% 7/18/2026<sup>9</sup> |  | 1270 | 407 |
| Sri Lanka (Democratic Socialist Republic of) 7.55% 3/28/2030<sup>9</sup> |  | 471 | 150 |
| Tunisia (Republic of) 6.75% 10/31/2023 | EUR | 465 | 420 |
| Tunisia (Republic of) 6.75% 10/31/2023 |  | 310 | 280 |
| Tunisia (Republic of) 5.625% 2/17/2024 |  | 500 | 422 |
| Tunisia (Republic of) 5.75% 1/30/2025 | USD | 625 | 435 |
| Turkey (Republic of) 11.875% 1/15/2030 |  | 800 | 954 |
| Turkey (Republic of) 5.875% 6/26/2031 |  | 1170 | 963 |
| Turkey (Republic of) 4.875% 4/16/2043 |  | 400 | 261 |
| Turkey (Republic of) 5.75% 5/11/2047 |  | 2005 | 1373 |
| Ukraine 8.994% 2/1/2026<sup>9</sup> |  | 600 | 134 |
| Ukraine 7.75% 9/1/2029<sup>9</sup> |  | 2328 | 503 |
| Ukraine 9.75% 11/1/2030<sup>9</sup> |  | 900 | 187 |
| Ukraine 7.375% 9/25/2034<sup>9</sup> |  | 2180 | 416 |
| United Mexican States 4.50% 4/22/2029 |  | 300 | 287 |
| United Mexican States 4.75% 4/27/2032 |  | 870 | 817 |
| United Mexican States 4.75% 3/8/2044 |  | 1090 | 884 |
| United Mexican States 3.75% 4/19/2071 |  | 200 | 125 |
| United Mexican States, Series M, 7.50% 6/3/2027 | MXN | 20360 | 986 |
| United Mexican States, Series M, 7.75% 5/29/2031 |  | 43000 | 2044 |
| Venezuela (Bolivarian Republic of) 9.00% 5/7/2023<sup>9</sup> | USD | 1383 | 121 |
| Venezuela (Bolivarian Republic of) 8.25% 10/13/2024<sup>9</sup> |  | 299 | 26 |
| Venezuela (Bolivarian Republic of) 7.65% 4/21/2025<sup>9</sup> |  | 129 | 11 |
| Venezuela (Bolivarian Republic of) 11.75% 10/21/2026<sup>9</sup> |  | 64 | 6 |
| Venezuela (Bolivarian Republic of) 9.25% 9/15/2027<sup>9</sup> |  | 170 | 16 |
| Venezuela (Bolivarian Republic of) 9.25% 5/7/2028<sup>9</sup> |  | 319 | 29 |
| Venezuela (Bolivarian Republic of) 7.00% 12/1/2018<sup>9</sup> |  | 64 | 5 |
| Venezuela (Bolivarian Republic of) 7.75% 10/13/2019<sup>9</sup> |  | 1149 | 92 |
| Venezuela (Bolivarian Republic of) 6.00% 12/9/2020<sup>9</sup> |  | 950 | 67 |
| Venezuela (Bolivarian Republic of) 11.95% 8/5/2031<sup>9</sup> |  | 106 | 10 |
| Venezuela (Bolivarian Republic of) 12.75% 8/23/2022<sup>9</sup> |  | 85 | 7 |
| Venezuela (Bolivarian Republic of) 7.00% 3/31/2038<sup>9</sup> |  | 107 | 10 |
|  |  |  | **82039** |
| **Corporate bonds, notes & loans 0.51%** |  |  |  |
| **Energy 0.17%** |  |  |  |
| Oleoducto Central SA 4.00% 7/14/2027<sup>6</sup> |  | 255 | 225 |
| Oleoducto Central SA 4.00% 7/14/2027 |  | 200 | 177 |
| Petrobras Global Finance Co. 6.85% 6/5/2115 |  | 314 | 266 |
| Petróleos Mexicanos 6.875% 8/4/2026 |  | 800 | 757 |
| Petróleos Mexicanos 6.49% 1/23/2027 |  | 1670 | 1525 |
| Petróleos Mexicanos 8.75% 6/2/2029 |  | 1105 | 1038 |
| Petróleos Mexicanos 6.70% 2/16/2032 |  | 622 | 490 |
| Petrorio Luxembourg SARL 6.125% 6/9/2026 |  | 200 | 191 |
| PTT Exploration and Production PCL 2.993% 1/15/2030 |  | 200 | 174 |
| Sinopec Group Overseas Development (2018), Ltd. 3.10% 1/8/2051<sup>6</sup> |  | 630 | 420 |
|  |  |  | **5263** |

---

<br> American Funds Insurance Series 79

New World Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials 0.09%** |  |  |  |
| Bangkok Bank PCL 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)<sup>7</sup> | USD | 800 | $670 |
| CMB International Leasing Management, Ltd. 2.75% 8/12/2030 |  | 895 | 687 |
| HDFC Bank, Ltd. 3.70% junior subordinated perpetual bonds (5-Year UST Yield Curve Rate T Note Constant Maturity + 2.925% on 2/25/2027)<sup>6,7</sup> |  | 600 | 516 |
| Power Financial Corp., Ltd. 6.15% 12/6/2028 |  | 432 | 439 |
| Power Financial Corp., Ltd. 4.50% 6/18/2029 |  | 273 | 253 |
| Power Financial Corp., Ltd. 3.35% 5/16/2031 |  | 310 | 258 |
|  |  |  | **2823** |
| **Consumer discretionary 0.07%** |  |  |  |
| Alibaba Group Holding, Ltd. 4.20% 12/6/2047 |  | 600 | 461 |
| Alibaba Group Holding, Ltd. 3.15% 2/9/2051 |  | 410 | 256 |
| Arcos Dorados BV 6.125% 5/27/2029 |  | 450 | 437 |
| Meituan Dianping 3.05% 10/28/2030<sup>6</sup> |  | 800 | 618 |
| MercadoLibre, Inc. 3.125% 1/14/2031 |  | 400 | 310 |
| Sands China, Ltd. 4.875% 6/18/2030 |  | 220 | 193 |
|  |  |  | **2275** |
| **Materials 0.05%** |  |  |  |
| Braskem Idesa SAPI 7.45% 11/15/2029 |  | 775 | 613 |
| Braskem Idesa SAPI 7.45% 11/15/2029<sup>6</sup> |  | 300 | 237 |
| GC Treasury Center Co., Ltd. 4.40% 3/30/2032<sup>6</sup> |  | 230 | 204 |
| Sasol Financing USA, LLC 5.875% 3/27/2024 |  | 500 | 491 |
|  |  |  | **1545** |
| **Utilities 0.04%** |  |  |  |
| AES Panama Generation Holdings SRL 4.375% 5/31/2030<sup>6</sup> |  | 280 | 244 |
| Empresas Publicas de Medellin ESP 4.25% 7/18/2029<sup>6</sup> |  | 412 | 328 |
| Enfragen Energia Sur SA 5.375% 12/30/2030 |  | 969 | 679 |
|  |  |  | **1251** |
| **Communication services 0.04%** |  |  |  |
| Axiata SPV5 Labuan, Ltd. 3.064% 8/19/2050 |  | 357 | 238 |
| PLDT, Inc. 2.50% 1/23/2031 |  | 210 | 165 |
| Tencent Holdings, Ltd. 3.975% 4/11/2029 |  | 400 | 369 |
| Tencent Holdings, Ltd. 3.24% 6/3/2050<sup>6</sup> |  | 580 | 368 |
|  |  |  | **1140** |
| **Consumer staples 0.02%** |  |  |  |
| Marfrig Global Foods SA 3.95% 1/29/2031 |  | 320 | 246 |
| NBM US Holdings, Inc. 6.625% 8/6/2029<sup>3</sup> |  | 420 | 407 |
|  |  |  | **653** |
| **Industrials 0.02%** |  |  |  |
| Mexico City Airport Trust 4.25% 10/31/2026 |  | 475 | **454** |
| **Health care 0.01%** |  |  |  |
| Rede D'Or Finance SARL 4.50% 1/22/2030 |  | 480 | **414** |
| **Total corporate bonds, notes & loans** |  |  | **15818** |
| **U.S. Treasury bonds & notes 0.09%** |  |  |  |
| **U.S. Treasury 0.09%** |  |  |  |
| U.S. Treasury (3-month U.S. Treasury Bill Yield - 0.015%) 4.383% 1/31/2024<sup>10,11</sup> |  | 2730 | **2729** |
| **Total bonds, notes & other debt instruments** (cost: $123,585,000) |  |  | **100586** |

---

<br> 80 American Funds Insurance Series

New World Fund (continued)

---

| | | |
|:---|:---|:---|
|  | | Value |
| **Short-term securities 5.44%** | Shares | (000) |
| **Money market investments 5.43%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>12,13</sup> | 1673444 | $**167328** |
| **Money market investments purchased with collateral from securities on loan 0.01%** |  |  |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>12,14</sup> | 149334 | 150 |
| Capital Group Central Cash Fund 4.31%<sup>12,13,14</sup> | 862 | 86 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>12,14</sup> | 58955 | 59 |
|  |  | **295** |
| **Total short-term securities** (cost: $167,602,000) |  | **167623** |
| **Total investment securities 100.12%** (cost: $2,556,012,000) |  | **3087550** |
| Other assets less liabilities (0.12)% |  | (3766) |
| **Net assets 100.00%** |  | $**3083784** |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 2 Year Euro-Schatz Futures | Long | 40 | March 2023 | USD | 4514 | $(18) |
| 5 Year U.S. Treasury Note Futures | Short | 14 | March 2023 |  | (1511) | 3 |
| 10 Year Euro-Bund Futures | Short | 18 | March 2023 |  | (2561) | 126 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 43 | March 2023 |  | (5086) | 30 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 53 | March 2023 |  | 7118 | (48) |
|  |  |  |  |  |  | $93 |

---

**Forward currency contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized**<br>**(depreciation)**<br>**appreciation**<br>**at 12/31/2022<br> (000)** |
| USD | 77 | EUR | 73 | Goldman Sachs | 1/11/2023 | $(1) |
| USD | 1484 | EUR | 1409 | Goldman Sachs | 1/12/2023 | (25) |
| EUR | 8 | USD | 9 | Barclays Bank PLC | 1/13/2023 | —<sup>4</sup> |
| USD | 1683 | EUR | 1593 | JPMorgan Chase | 1/13/2023 | (24) |
|  |  |  |  |  |  | $(50) |

---

<br> American Funds Insurance Series 81

New World Fund (continued)

**Swap contracts**

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Reference**<br>**index** | <br>**Financing**<br>**rate paid** | <br>**Payment**<br>**frequency** | <br>**Expiration**<br>**date** |<br>**Notional**<br>**amount**<br>**(000)** |<br>**Value at**<br>**12/31/2022**<br>**(000)** | **Upfront**<br>**premium**<br>**paid**<br>**(000)** | **Unrealized**<br>**appreciation**<br>**at 12/31/2022**<br>**(000)** |
| CDX.EM.38 | 1.00% | Quarterly | 12/20/2027 | USD 2,230 | $131 | $129 | $2 |

---

**Investments in affiliates<sup>13</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 5.43%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 5.43%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>12</sup> | $216764 | $756276 | $805673 | $(44) | $5 | $167328 | $4331 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>12,14</sup> | 4255 |  | 4169<sup>15</sup> |  |  | 86 | —<sup>16</sup> |
| **Total 5.43%** |  |  |  | $(44) | $5 | $167414 | $4331 |

---

**Restricted securities<sup>3</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Acquisition**<br>**date(s)** |<br>**Cost**<br>**(000)** |<br>**Value**<br>**(000)** | **Percent**<br>**of net**<br>**assets** |
| QuintoAndar, Ltd., Series E, preferred shares<sup>1,2</sup> | 5/26/2021 | $5258 | $4267 | .14% |
| QuintoAndar, Ltd., Series E-1, preferred shares<sup>1,2</sup> | 12/20/2021 | 1716 | 1098 | .04 |
| Getir BV, Series D, preferred shares<sup>1,2</sup> | 5/27/2021 | 3500 | 3736 | .12 |
| NBM US Holdings, Inc. 6.625% 8/6/2029 | 7/8/2022 | 404 | 407 | .01 |
| Canva, Inc.<sup>1,2</sup> | 8/26/2021-11/4/2021 | 656 | 342 | .01 |
| Canva, Inc., Series A, noncumulative preferred shares<sup>1,2</sup> | 11/4/2021 | 58 | 30 | .00 |
| Canva, Inc., Series A-3, noncumulative preferred shares<sup>1,2</sup> | 11/4/2021 | 2 | 1 | .00 |
| **Total** |  | $11594 | $9881 | .32% |

---

<br> 82 American Funds Insurance Series

New World Fund (continued)

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> Value determined using significant unobservable inputs.

<sup>3</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $9,881,000, which represented .32% of the net assets of the fund.

<sup>4</sup> Amount less than one thousand.

<sup>5</sup> All or a portion of this security was on loan. The total value of all such securities was $311,000, which represented .01% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $19,603,000, which represented .64% of the net assets of the fund.

<sup>7</sup> Step bond; coupon rate may change at a later date.

<sup>8</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>9</sup> Scheduled interest and/or principal payment was not received.

<sup>10</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $297,000, which represented .01% of the net assets of the fund.

<sup>11</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>12</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>13</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>14</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>15</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>16</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

BRL = Brazilian reais

CDI = CREST Depository Interest

CNY = Chinese yuan

DOP = Dominican pesos

EUR = Euros

GBP = British pounds

GDR = Global Depositary Receipts

MXN = Mexican pesos

REIT = Real Estate Investment Trust

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Insurance Series 83

Washington Mutual Investors Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 95.35%** | Shares | Value<br> (000) |
| **Health care 21.99%** |  |  |
| UnitedHealth Group, Inc. | 706573 | $374611 |
| Pfizer, Inc. | 5089889 | 260806 |
| CVS Health Corp. | 2030283 | 189202 |
| Eli Lilly and Company | 436276 | 159607 |
| Johnson & Johnson | 897185 | 158488 |
| AbbVie, Inc. | 926694 | 149763 |
| AstraZeneca PLC (ADR) | 1747998 | 118514 |
| Humana, Inc. | 211641 | 108400 |
| Gilead Sciences, Inc. | 1234157 | 105952 |
| Abbott Laboratories | 676709 | 74296 |
| Cigna Corp. | 197196 | 65339 |
| Elevance Health, Inc. | 118687 | 60883 |
| Danaher Corp. | 228637 | 60685 |
| Bristol-Myers Squibb Company | 577839 | 41576 |
| Novo Nordisk A/S, Class B (ADR) | 214095 | 28976 |
| Zimmer Biomet Holdings, Inc. | 179120 | 22838 |
| Thermo Fisher Scientific, Inc. | 38181 | 21026 |
| Regeneron Pharmaceuticals, Inc.<sup>1</sup> | 25933 | 18710 |
| Zoetis, Inc., Class A | 100063 | 14664 |
| Roche Holding AG (ADR) | 322207 | 12614 |
| Molina Healthcare, Inc.<sup>1</sup> | 37656 | 12435 |
| Edwards Lifesciences Corp.<sup>1</sup> | 85300 | 6364 |
| Baxter International, Inc. | 114187 | 5820 |
| ResMed, Inc. | 24754 | 5152 |
|  |  | **2076721** |
| **Information technology 17.56%** |  |  |
| Broadcom, Inc. | 919032 | 513857 |
| Microsoft Corp. | 1830263 | 438934 |
| Apple, Inc. | 765754 | 99494 |
| ASML Holding NV (New York registered) (ADR) | 157302 | 85950 |
| Intel Corp. | 2778330 | 73431 |
| Visa, Inc., Class A | 290482 | 60351 |
| Fidelity National Information Services, Inc. | 587989 | 39895 |
| Motorola Solutions, Inc. | 149004 | 38400 |
| Mastercard, Inc., Class A | 110216 | 38325 |
| SAP SE (ADR) | 370066 | 38187 |
| KLA Corp. | 90564 | 34145 |
| Applied Materials, Inc. | 344981 | 33594 |
| Paychex, Inc. | 238707 | 27585 |
| TE Connectivity, Ltd. | 233588 | 26816 |
| Automatic Data Processing, Inc. | 91188 | 21781 |
| Texas Instruments, Inc. | 119302 | 19711 |
| NetApp, Inc. | 285109 | 17124 |
| Synopsys, Inc.<sup>1</sup> | 47178 | 15064 |
| Oracle Corp. | 116989 | 9563 |
| QUALCOMM, Inc. | 85889 | 9443 |
| EPAM Systems, Inc.<sup>1</sup> | 21637 | 7091 |
| Analog Devices, Inc. | 28186 | 4623 |
| Micron Technology, Inc. | 74256 | 3711 |
| Ciena Corp.<sup>1</sup> | 17550 | 895 |
|  |  | **1657970** |
| **Financials 13.67%** |  |  |
| Marsh & McLennan Companies, Inc. | 1329999 | 220088 |
| JPMorgan Chase & Co. | 1231233 | 165108 |
| BlackRock, Inc. | 152050 | 107747 |
| Chubb, Ltd. | 450474 | 99375 |
| CME Group, Inc., Class A | 530969 | 89288 |
| Wells Fargo & Company | 1821863 | 75225 |
| Bank of America Corp. | 1370945 | 45406 |
| Citizens Financial Group, Inc. | 1109159 | 43668 |

---

84 American Funds Insurance Series

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Financials (continued)** |  |  |
| Discover Financial Services | 414920 | $40592 |
| Intercontinental Exchange, Inc. | 394483 | 40470 |
| Morgan Stanley | 458540 | 38985 |
| S&P Global, Inc. | 111373 | 37303 |
| Capital One Financial Corp. | 348076 | 32357 |
| Blackstone, Inc., nonvoting shares | 403946 | 29969 |
| Apollo Asset Management, Inc. | 443289 | 28277 |
| Nasdaq, Inc. | 458289 | 28116 |
| KKR & Co., Inc. | 601229 | 27909 |
| Goldman Sachs Group, Inc. | 78842 | 27073 |
| Aon PLC, Class A | 75142 | 22553 |
| PNC Financial Services Group, Inc. | 130342 | 20586 |
| Toronto-Dominion Bank<sup>2</sup> | 236859 | 15339 |
| KeyCorp | 770460 | 13422 |
| Canadian Imperial Bank of Commerce | 314940 | 12739 |
| Arthur J. Gallagher & Co. | 56249 | 10605 |
| Moody's Corp. | 26105 | 7273 |
| Fifth Third Bancorp | 192883 | 6329 |
| Charles Schwab Corp. | 38738 | 3225 |
| Progressive Corp. | 14654 | 1901 |
|  |  | **1290928** |
| **Industrials 11.24%** |  |  |
| Northrop Grumman Corp. | 340603 | 185836 |
| Lockheed Martin Corp. | 220356 | 107201 |
| Raytheon Technologies Corp. | 991865 | 100099 |
| Caterpillar, Inc. | 415519 | 99542 |
| Norfolk Southern Corp. | 312913 | 77108 |
| CSX Corp. | 2421254 | 75011 |
| L3Harris Technologies, Inc. | 323116 | 67276 |
| Honeywell International, Inc. | 292363 | 62653 |
| Boeing Company<sup>1</sup> | 256666 | 48892 |
| Waste Connections, Inc. | 206205 | 27335 |
| Equifax, Inc. | 124702 | 24237 |
| ABB, Ltd. (ADR) | 753846 | 22962 |
| United Parcel Service, Inc., Class B | 123077 | 21396 |
| Robert Half International, Inc. | 278467 | 20559 |
| Union Pacific Corp. | 99249 | 20552 |
| Rockwell Automation | 59498 | 15325 |
| Carrier Global Corp. | 317975 | 13117 |
| Huntington Ingalls Industries, Inc. | 47307 | 10913 |
| PACCAR, Inc. | 108835 | 10771 |
| Republic Services, Inc. | 78273 | 10096 |
| Johnson Controls International PLC | 152323 | 9749 |
| BAE Systems PLC (ADR)<sup>2</sup> | 212361 | 8950 |
| HEICO Corp. | 56216 | 8637 |
| Air Lease Corp., Class A | 157245 | 6041 |
| RELX PLC (ADR) | 186041 | 5157 |
| Waste Management, Inc. | 11150 | 1749 |
|  |  | **1061164** |
| **Consumer discretionary 8.11%** |  |  |
| Home Depot, Inc. | 574803 | 181557 |
| YUM! Brands, Inc. | 682736 | 87445 |
| Target Corp. | 566187 | 84385 |
| General Motors Company | 1894289 | 63724 |
| Darden Restaurants, Inc. | 417284 | 57723 |
| Lennar Corp., Class A | 515314 | 46636 |
| Wynn Resorts, Ltd.<sup>1</sup> | 470851 | 38831 |
| NIKE, Inc., Class B | 321417 | 37609 |
| TJX Companies, Inc. | 469822 | 37398 |
| Dollar General Corp. | 115057 | 28333 |

---

American Funds Insurance Series 85

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer discretionary (continued)** |  |  |
| D.R. Horton, Inc. | 283590 | $25279 |
| Starbucks Corp. | 247055 | 24508 |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 9251 | 12836 |
| VF Corp. | 440631 | 12166 |
| Aptiv PLC<sup>1</sup> | 104868 | 9766 |
| McDonald's Corp. | 21948 | 5784 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 110264 | 5450 |
| Polaris, Inc. | 52835 | 5336 |
| Amazon.com, Inc.<sup>1</sup> | 17265 | 1450 |
|  |  | **766216** |
| **Consumer staples 6.76%** |  |  |
| Archer Daniels Midland Company | 1568943 | 145676 |
| Philip Morris International, Inc. | 1242650 | 125769 |
| Keurig Dr Pepper, Inc. | 1386913 | 49457 |
| Kraft Heinz Company | 1133294 | 46136 |
| Procter & Gamble Company | 266724 | 40425 |
| Reckitt Benckiser Group PLC (ADR)<sup>2</sup> | 2494590 | 35149 |
| Nestlé SA (ADR) | 289515 | 33393 |
| General Mills, Inc. | 345460 | 28967 |
| Hormel Foods Corp. | 592388 | 26983 |
| Mondelez International, Inc. | 372276 | 24812 |
| Costco Wholesale Corp. | 50498 | 23052 |
| Church & Dwight Co., Inc. | 148770 | 11992 |
| Walgreens Boots Alliance, Inc. | 316943 | 11841 |
| Unilever PLC (ADR) | 182723 | 9200 |
| British American Tobacco PLC (ADR) | 222076 | 8879 |
| Kimberly-Clark Corp. | 55351 | 7514 |
| Danone (ADR) | 694054 | 7298 |
| Conagra Brands, Inc. | 57435 | 2223 |
|  |  | **638766** |
| **Energy 5.90%** |  |  |
| Pioneer Natural Resources Company | 558497 | 127555 |
| Chevron Corp. | 509098 | 91378 |
| ConocoPhillips | 757878 | 89430 |
| Baker Hughes Co., Class A | 2518351 | 74367 |
| Exxon Mobil Corp. | 576453 | 63583 |
| EOG Resources, Inc. | 297609 | 38546 |
| Canadian Natural Resources, Ltd. | 665647 | 36963 |
| TC Energy Corp. | 678590 | 27049 |
| Enbridge, Inc. | 208235 | 8142 |
|  |  | **557013** |
| **Communication services 3.97%** |  |  |
| Comcast Corp., Class A | 6323705 | 221140 |
| Alphabet, Inc., Class C<sup>1</sup> | 732176 | 64966 |
| Alphabet, Inc., Class A<sup>1</sup> | 442820 | 39070 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 262927 | 31641 |
| Activision Blizzard, Inc. | 138758 | 10622 |
| Electronic Arts, Inc. | 36898 | 4508 |
| Deutsche Telekom AG (ADR) | 142813 | 2853 |
|  |  | **374800** |
| **Utilities 2.63%** |  |  |
| Constellation Energy Corp. | 810638 | 69885 |
| Sempra Energy | 407271 | 62940 |
| Entergy Corp. | 349992 | 39374 |
| CMS Energy Corp. | 446368 | 28268 |
| Public Service Enterprise Group, Inc. | 235300 | 14417 |
| NextEra Energy, Inc. | 142120 | 11881 |

---

86 American Funds Insurance Series

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Utilities (continued)** |  |  |
| Xcel Energy, Inc. | 110238 | $7729 |
| Dominion Energy, Inc. | 123750 | 7588 |
| Evergy, Inc. | 95960 | 6039 |
|  |  | **248121** |
| **Materials 2.24%** |  |  |
| Linde PLC | 198540 | 64760 |
| Rio Tinto PLC (ADR) | 501584 | 35713 |
| Corteva, Inc. | 497904 | 29267 |
| Air Products and Chemicals, Inc. | 64476 | 19875 |
| LyondellBasell Industries NV | 219873 | 18256 |
| Nucor Corp. | 125314 | 16518 |
| Huntsman Corp. | 442172 | 12151 |
| Albemarle Corp. | 55023 | 11932 |
| H.B. Fuller Co. | 49263 | 3528 |
|  |  | **212000** |
| **Real estate 1.28%** |  |  |
| Extra Space Storage, Inc. REIT | 363771 | 53540 |
| American Tower Corp. REIT | 109250 | 23146 |
| Equinix, Inc. REIT | 27909 | 18281 |
| Digital Realty Trust, Inc. REIT | 174296 | 17477 |
| Regency Centers Corp. REIT | 115400 | 7212 |
| Welltower, Inc. REIT | 15517 | 1017 |
|  |  | **120673** |
| **Total common stocks** (cost: $7,295,957,000) |  | **9004372** |
| **Convertible stocks 0.35%** |  |  |
| **Health care 0.20%** |  |  |
| Becton, Dickinson and Company, Series B, convertible preferred shares, 6.00% 6/1/2023 | 197800 | 9906 |
| Danaher Corp., Series B, cumulative convertible preferred shares, 5.00% 4/15/2023<sup>2</sup> | 6821 | 9253 |
|  |  | **19159** |
| **Utilities 0.08%** |  |  |
| NextEra Energy, Inc., noncumulative convertible preferred units, 6.926% 9/1/2025 | 90700 | 4552 |
| American Electric Power Company, Inc., convertible preferred units, 6.125% 8/15/2023 | 56400 | 2909 |
|  |  | **7461** |
| **Financials 0.07%** |  |  |
| KKR & Co., Inc., Series C, convertible preferred shares, 6.00% 9/15/2023 | 113300 | **6487** |
| **Total convertible stocks** (cost: $33,103,000) |  | **33107** |
| **Short-term securities 4.19%** |  |  |
| **Money market investments 4.07%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>3,4</sup> | 3847079 | **384669** |

---

American Funds Insurance Series 87

Washington Mutual Investors Fund (continued)

---

| | | |
|:---|:---|:---|
| **Short-term securities** (continued) | Shares | Value<br> (000) |
| **Money market investments purchased with collateral from securities on loan 0.12%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>3,4,5</sup> | 63391 | $6338 |
| State Street Institutional U.S. Government Money Market Fund, Institutional Class 4.09%<sup>3,5</sup> | 2494000 | 2494 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>3,5</sup> | 1460582 | 1461 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>3,5</sup> | 1324956 | 1325 |
|  |  | **11618** |
| **Total short-term securities** (cost: $396,237,000) |  | **396287** |
| **Total investment securities 99.89%** (cost: $7,725,297,000) |  | **9433766** |
| Other assets less liabilities 0.11% |  | 9934 |
| **Net assets 100.00%** |  | $**9443700** |

---

**Investments in affiliates<sup>4</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of**<br> **affiliates at**<br> **1/1/2022**<br> **(000)** | **Additions**<br> **(000)** | **Reductions**<br> **(000)** | **Net**<br> **realized**<br> **loss**<br> **(000)** | **Net**<br> **unrealized**<br> **appreciation**<br> **(000)** | **Value of**<br> **affiliates at**<br> **12/31/2022**<br> **(000)** | **Dividend**<br> **income**<br> **(000)** |
| **Short-term securities 4.14%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 4.07%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>3</sup> | $321870 | $1392905 | $1330045 | $(71) | $10 | $384669 | $6762 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.07%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>3,5</sup> | 9273 |  | 29356 |  |  | 6338 | —<sup>7</sup> |
| &nbsp;&nbsp;&nbsp;**Total 4.14%** |  |  |  | $(71) | $10 | $391007 | $6762 |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $12,432,000, which represented .13% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>4</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>5</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>6</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>7</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

REIT = Real Estate Investment Trust

Refer to the notes to financial statements.

88 American Funds Insurance Series

Capital World Growth and Income Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 95.23%** | Shares | Value <br> (000) |
| **Information technology 15.74%** |  |  |
| Broadcom, Inc. | 91368 | $51087 |
| Microsoft Corp. | 200685 | 48128 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 2403800 | 35035 |
| ASML Holding NV | 48522 | 26265 |
| Apple, Inc. | 111767 | 14522 |
| EPAM Systems, Inc.<sup>1</sup> | 37912 | 12425 |
| Tokyo Electron, Ltd. | 35800 | 10635 |
| Capgemini SE | 47477 | 7963 |
| Micron Technology, Inc. | 141746 | 7085 |
| Accenture PLC, Class A | 24538 | 6548 |
| Mastercard, Inc., Class A | 15969 | 5553 |
| Logitech International SA | 65146 | 4043 |
| NVIDIA Corp. | 25359 | 3706 |
| Delta Electronics, Inc. | 337000 | 3139 |
| Keyence Corp. | 7600 | 2975 |
| Hexagon AB, Class B | 260158 | 2735 |
| Ceridian HCM Holding, Inc.<sup>1</sup> | 38252 | 2454 |
| Shopify, Inc., Class A, subordinate voting shares<sup>1</sup> | 69098 | 2398 |
| OBIC Co., Ltd. | 16200 | 2395 |
| Applied Materials, Inc. | 23343 | 2273 |
| Synopsys, Inc.<sup>1</sup> | 6800 | 2171 |
| MediaTek, Inc. | 93000 | 1889 |
| Worldline SA, non-registered shares<sup>1</sup> | 44297 | 1729 |
| TE Connectivity, Ltd. | 13147 | 1509 |
| Lasertec Corp. | 8872 | 1474 |
| Fujitsu, Ltd. | 11000 | 1457 |
| SK hynix, Inc. | 22772 | 1371 |
| ServiceNow, Inc.<sup>1</sup> | 3191 | 1239 |
| Oracle Corp. | 15041 | 1229 |
| Disco Corp. | 3900 | 1121 |
| GlobalWafers Co., Ltd. | 71000 | 986 |
| Snowflake, Inc., Class A<sup>1</sup> | 5882 | 844 |
| Zscaler, Inc.<sup>1</sup> | 7066 | 791 |
| Infosys, Ltd. | 41700 | 755 |
| Nomura Research Institute, Ltd. | 28600 | 680 |
| SS&C Technologies Holdings, Inc. | 10174 | 530 |
| PagSeguro Digital, Ltd., Class A<sup>1</sup> | 22705 | 198 |
| Wolfspeed, Inc.<sup>1</sup> | 1813 | 125 |
| Fidelity National Information Services, Inc. | 1708 | 116 |
|  |  | **271578** |
| **Health care 15.17%** |  |  |
| UnitedHealth Group, Inc. | 74724 | 39617 |
| Abbott Laboratories | 241728 | 26539 |
| Eli Lilly and Company | 58184 | 21286 |
| Gilead Sciences, Inc. | 178860 | 15355 |
| AstraZeneca PLC | 104122 | 14131 |
| Pfizer, Inc. | 261843 | 13417 |
| Novo Nordisk A/S, Class B | 84097 | 11387 |
| Thermo Fisher Scientific, Inc. | 20658 | 11376 |
| Daiichi Sankyo Company, Ltd. | 344500 | 11040 |
| Centene Corp.<sup>1</sup> | 118976 | 9757 |
| Novartis AG | 96113 | 8706 |
| Siemens Healthineers AG | 144724 | 7240 |
| Stryker Corp. | 28725 | 7023 |
| AbbVie, Inc. | 34990 | 5655 |
| Amgen, Inc. | 18534 | 4868 |
| Takeda Pharmaceutical Company, Ltd. | 146400 | 4573 |
| CVS Health Corp. | 47511 | 4428 |
| Olympus Corp. | 213300 | 3770 |
| Medtronic PLC | 42451 | 3299 |
| Vertex Pharmaceuticals, Inc.<sup>1</sup> | 10220 | 2951 |

---

American Funds Insurance Series 89

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care (continued)** |  |  |
| ResMed, Inc. | 13349 | $2778 |
| Shionogi & Co., Ltd. | 52400 | 2607 |
| Insulet Corp.<sup>1</sup> | 8552 | 2518 |
| PerkinElmer, Inc. | 17633 | 2472 |
| Carl Zeiss Meditec AG, non-registered shares | 19475 | 2458 |
| Bayer AG | 46783 | 2416 |
| EssilorLuxottica | 12616 | 2297 |
| DexCom, Inc.<sup>1</sup> | 19845 | 2247 |
| Cigna Corp. | 6618 | 2193 |
| Intuitive Surgical, Inc.<sup>1</sup> | 7213 | 1914 |
| Zoetis, Inc., Class A | 11180 | 1638 |
| CSL, Ltd. | 8133 | 1586 |
| Alcon, Inc. | 21412 | 1471 |
| Rede D'Or Sao Luiz SA | 255608 | 1432 |
| BioNTech SE (ADR) | 8468 | 1272 |
| Guardant Health, Inc.<sup>1</sup> | 32188 | 876 |
| Eurofins Scientific SE, non-registered shares | 12151 | 875 |
| Penumbra, Inc.<sup>1</sup> | 3640 | 810 |
| Catalent, Inc.<sup>1</sup> | 13075 | 588 |
| Molina Healthcare, Inc.<sup>1</sup> | 1089 | 360 |
| Agilon Health, Inc.<sup>1</sup> | 19961 | 322 |
| HOYA Corp. | 1300 | 126 |
| EUROAPI<sup>1</sup> | 2830 | 42 |
|  |  | **261716** |
| **Financials 12.95%** |  |  |
| Zurich Insurance Group AG | 40892 | 19541 |
| AIA Group, Ltd. | 1331999 | 14675 |
| Kotak Mahindra Bank, Ltd. | 641387 | 14112 |
| Toronto-Dominion Bank (CAD denominated) | 196293 | 12710 |
| JPMorgan Chase & Co. | 73488 | 9855 |
| HDFC Bank, Ltd. | 379442 | 7470 |
| HDFC Bank, Ltd. (ADR) | 14868 | 1017 |
| B3 SA-Brasil, Bolsa, Balcao | 3320838 | 8309 |
| DNB Bank ASA | 401356 | 7946 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 1071500 | 7072 |
| Ping An Insurance (Group) Company of China, Ltd., Class A | 23000 | 156 |
| Nasdaq, Inc. | 110650 | 6788 |
| PNC Financial Services Group, Inc. | 39710 | 6272 |
| Wells Fargo & Company | 142901 | 5900 |
| Morgan Stanley | 64543 | 5487 |
| Chubb, Ltd. | 23142 | 5105 |
| ING Groep NV | 395598 | 4827 |
| American International Group, Inc. | 75453 | 4772 |
| Aon PLC, Class A | 15659 | 4700 |
| HDFC Life Insurance Company, Ltd. | 681398 | 4651 |
| CME Group, Inc., Class A | 27577 | 4637 |
| Discover Financial Services | 44649 | 4368 |
| DBS Group Holdings, Ltd. | 167200 | 4233 |
| Blackstone, Inc., nonvoting shares | 54273 | 4027 |
| Intercontinental Exchange, Inc. | 35038 | 3595 |
| KBC Groep NV | 54921 | 3526 |
| S&P Global, Inc. | 8773 | 2938 |
| Citigroup, Inc. | 60832 | 2751 |
| FinecoBank SpA | 153752 | 2562 |
| Israel Discount Bank Ltd., Class A | 471720 | 2479 |
| Fairfax Financial Holdings, Ltd., subordinate voting shares | 4135 | 2449 |
| AXA SA | 80016 | 2230 |
| BNP Paribas SA | 35889 | 2042 |
| ICICI Bank, Ltd. | 188346 | 2019 |
| Apollo Asset Management, Inc. | 31437 | 2005 |
| Banco Santander, SA | 631521 | 1891 |

---

90 American Funds Insurance Series

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Financials (continued)** |  |  |
| National Bank of Canada | 26966 | $1817 |
| Arthur J. Gallagher & Co. | 9509 | 1793 |
| Fifth Third Bancorp | 48163 | 1580 |
| Goldman Sachs Group, Inc. | 4548 | 1562 |
| Power Corporation of Canada, subordinate voting shares<sup>2</sup> | 63342 | 1490 |
| Blue Owl Capital, Inc., Class A | 136448 | 1446 |
| Macquarie Group, Ltd. | 12033 | 1366 |
| XP, Inc., Class A<sup>1</sup> | 86047 | 1320 |
| Postal Savings Bank of China Co., Ltd., Class H | 2121000 | 1310 |
| United Overseas Bank, Ltd. | 54800 | 1257 |
| Marsh & McLennan Companies, Inc. | 7341 | 1215 |
| Bajaj Finance, Ltd. | 15022 | 1189 |
| China Merchants Bank Co., Ltd., Class H | 130403 | 723 |
| China Merchants Bank Co., Ltd., Class A | 86187 | 462 |
| Axis Bank, Ltd. | 100962 | 1135 |
| Hong Kong Exchanges and Clearing, Ltd. | 25200 | 1089 |
| Tryg A/S | 45292 | 1074 |
| East Money Information Co., Ltd., Class A | 379800 | 1061 |
| Aegon NV | 196376 | 996 |
| Lufax Holding, Ltd. (ADR) | 180760 | 351 |
| Sberbank of Russia PJSC<sup>1,3</sup> | 3196952 | —<sup>4</sup> |
|  |  | **223353** |
| **Industrials 12.59%** |  |  |
| Airbus SE, non-registered shares | 165602 | 19690 |
| General Electric Co. | 226107 | 18945 |
| BAE Systems PLC | 1376080 | 14222 |
| Raytheon Technologies Corp. | 121846 | 12297 |
| Carrier Global Corp. | 262272 | 10819 |
| Recruit Holdings Co., Ltd. | 317150 | 10087 |
| Safran SA | 80040 | 10002 |
| Lockheed Martin Corp. | 20070 | 9764 |
| Deere & Company | 21851 | 9369 |
| Siemens AG | 59301 | 8230 |
| Caterpillar, Inc. | 31794 | 7617 |
| Boeing Company<sup>1</sup> | 39550 | 7534 |
| CSX Corp. | 174517 | 5406 |
| L3Harris Technologies, Inc. | 25925 | 5398 |
| Mitsui & Co., Ltd. | 152400 | 4431 |
| LIXIL Corp. | 288000 | 4389 |
| Melrose Industries PLC | 2436274 | 3961 |
| RELX PLC | 119741 | 3318 |
| RELX PLC (ADR) | 15132 | 419 |
| TransDigm Group, Inc. | 5844 | 3680 |
| Bureau Veritas SA | 137541 | 3620 |
| Johnson Controls International PLC | 55085 | 3525 |
| Daikin Industries, Ltd. | 19600 | 3015 |
| Brenntag SE | 39862 | 2549 |
| Compagnie de Saint-Gobain SA, non-registered shares | 51704 | 2538 |
| Canadian Pacific Railway, Ltd. | 31797 | 2372 |
| Legrand SA | 28600 | 2303 |
| Bunzl PLC | 68998 | 2303 |
| ASSA ABLOY AB, Class B | 104956 | 2258 |
| Northrop Grumman Corp. | 3877 | 2115 |
| Schneider Electric SE | 13179 | 1853 |
| Thales SA | 14244 | 1821 |
| Waste Connections, Inc. | 13211 | 1751 |
| BayCurrent Consulting, Inc. | 54200 | 1695 |
| Rockwell Automation | 6529 | 1682 |
| VINCI SA | 15814 | 1579 |
| Rentokil Initial PLC | 256104 | 1574 |
| Nidec Corp. | 22100 | 1151 |

---

American Funds Insurance Series 91

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Industrials (continued)** |  |  |
| SMC Corp. | 2700 | $1143 |
| AB Volvo, Class B | 62128 | 1125 |
| MTU Aero Engines AG | 5108 | 1106 |
| Atlas Copco AB, Class B | 89617 | 957 |
| Adecco Group AG | 28154 | 926 |
| ManpowerGroup, Inc. | 11115 | 925 |
| Larsen & Toubro, Ltd. | 35295 | 888 |
| International Consolidated Airlines Group SA (CDI)<sup>1,2</sup> | 287033 | 427 |
| Honeywell International, Inc. | 1401 | 300 |
| Deutsche Post AG | 3901 | 147 |
|  |  | **217226** |
| **Consumer discretionary 9.00%** |  |  |
| LVMH Moët Hennessy-Louis Vuitton SE | 40590 | 29488 |
| Home Depot, Inc. | 63297 | 19993 |
| General Motors Company | 304882 | 10256 |
| Amazon.com, Inc.<sup>1</sup> | 98471 | 8272 |
| Booking Holdings, Inc.<sup>1</sup> | 3555 | 7164 |
| Flutter Entertainment PLC<sup>1</sup> | 45621 | 6251 |
| Restaurant Brands International, Inc. | 44121 | 2853 |
| Restaurant Brands International, Inc. (CAD denominated) | 43454 | 2811 |
| Cie. Financière Richemont SA, Class A | 40890 | 5291 |
| Sony Group Corp. | 66800 | 5094 |
| Dollar Tree Stores, Inc.<sup>1</sup> | 33180 | 4693 |
| Marriott International, Inc., Class A | 29974 | 4463 |
| Lennar Corp., Class A | 39345 | 3561 |
| Target Corp. | 22747 | 3390 |
| Industria de Diseño Textil, SA | 117969 | 3141 |
| Sands China, Ltd.<sup>1</sup> | 935200 | 3098 |
| Shimano, Inc. | 19200 | 3059 |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 2122 | 2944 |
| Evolution AB | 25292 | 2470 |
| Rivian Automotive, Inc., Class A<sup>1</sup> | 126108 | 2324 |
| NIKE, Inc., Class B | 19311 | 2260 |
| Pan Pacific International Holdings Corp. | 119900 | 2226 |
| YUM! Brands, Inc. | 16678 | 2136 |
| Astra International Tbk PT | 5716600 | 2083 |
| InterContinental Hotels Group PLC | 34581 | 1991 |
| Darden Restaurants, Inc. | 14208 | 1965 |
| Stellantis NV | 128257 | 1818 |
| JD.com, Inc., Class A | 52947 | 1488 |
| Tesla, Inc.<sup>1</sup> | 12036 | 1483 |
| Midea Group Co., Ltd., Class A | 194700 | 1446 |
| Li Ning Co., Ltd. | 163000 | 1399 |
| Kindred Group PLC (SDR) | 127475 | 1331 |
| Wynn Macau, Ltd.<sup>1</sup> | 826400 | 921 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 17446 | 862 |
| Aristocrat Leisure, Ltd. | 39792 | 822 |
| Entain PLC | 17337 | 278 |
| Hermès International | 105 | 162 |
|  |  | **155287** |
| **Consumer staples 7.57%** |  |  |
| Philip Morris International, Inc. | 309980 | 31373 |
| Nestlé SA | 110820 | 12798 |
| Keurig Dr Pepper, Inc. | 316125 | 11273 |
| British American Tobacco PLC | 243321 | 9654 |
| Kroger Co. | 171853 | 7661 |
| Kweichow Moutai Co., Ltd., Class A | 28600 | 7077 |
| Ocado Group PLC<sup>1</sup> | 898794 | 6764 |
| Imperial Brands PLC | 257311 | 6429 |
| Seven & i Holdings Co., Ltd. | 137500 | 5882 |

---

92 American Funds Insurance Series

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer staples (continued)** |  |  |
| Bunge, Ltd. | 52225 | $5210 |
| Ajinomoto Co., Inc. | 131100 | 3997 |
| Danone SA | 68733 | 3621 |
| Arca Continental, SAB de CV | 432054 | 3509 |
| Treasury Wine Estates, Ltd. | 365056 | 3373 |
| Varun Beverages, Ltd. | 177457 | 2825 |
| Altria Group, Inc. | 56773 | 2595 |
| ITC, Ltd. | 565239 | 2266 |
| Constellation Brands, Inc., Class A | 9208 | 2134 |
| Inner Mongolia Yili Industrial Group Co., Ltd., Class A | 307600 | 1368 |
| Essity Aktiebolag, Class B | 31422 | 825 |
|  |  | **130634** |
| **Materials 7.02%** |  |  |
| Vale SA, ordinary nominative shares | 1606974 | 27052 |
| Vale SA (ADR), ordinary nominative shares | 880043 | 14934 |
| Fortescue Metals Group, Ltd. | 1251957 | 17454 |
| Rio Tinto PLC | 167527 | 11755 |
| Freeport-McMoRan, Inc. | 262321 | 9968 |
| Linde PLC | 21113 | 6887 |
| Shin-Etsu Chemical Co., Ltd. | 39100 | 4764 |
| BHP Group, Ltd. (CDI) | 116082 | 3579 |
| Air Products and Chemicals, Inc. | 8996 | 2773 |
| Albemarle Corp. | 11198 | 2428 |
| CRH PLC | 60032 | 2377 |
| Air Liquide SA, bonus shares<sup>1</sup> | 8561 | 1218 |
| Air Liquide SA, non-registered shares | 7503 | 1067 |
| Barrick Gold Corp. (CAD denominated) | 121716 | 2086 |
| Dow, Inc. | 40669 | 2049 |
| Akzo Nobel NV | 29669 | 1980 |
| Glencore PLC | 279444 | 1869 |
| Amcor PLC (CDI) | 147168 | 1764 |
| Evonik Industries AG | 82596 | 1586 |
| First Quantum Minerals, Ltd. | 70833 | 1480 |
| HeidelbergCement AG | 25414 | 1449 |
| Lynas Rare Earths, Ltd.<sup>1</sup> | 121178 | 643 |
|  |  | **121162** |
| **Energy 6.30%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)<sup>2</sup> | 429516 | 23852 |
| Baker Hughes Co., Class A | 428998 | 12668 |
| TotalEnergies SE | 178299 | 11129 |
| EOG Resources, Inc. | 74135 | 9602 |
| Tourmaline Oil Corp. | 123757 | 6244 |
| BP PLC | 932803 | 5424 |
| Reliance Industries, Ltd. | 147765 | 4533 |
| Cameco Corp. (CAD denominated) | 147245 | 3337 |
| Cameco Corp. | 46300 | 1050 |
| Shell PLC (GBP denominated) | 149201 | 4240 |
| Cenovus Energy, Inc. (CAD denominated) | 206756 | 4011 |
| Woodside Energy Group, Ltd. | 119566 | 2893 |
| Woodside Energy Group, Ltd. (CDI) | 37610 | 908 |
| ConocoPhillips | 29431 | 3473 |
| Aker BP ASA | 101330 | 3159 |
| TC Energy Corp. (CAD denominated) | 76353 | 3044 |
| Suncor Energy, Inc. | 84173 | 2670 |
| Var Energi ASA | 735288 | 2537 |
| Exxon Mobil Corp. | 18586 | 2050 |
| Halliburton Company | 44744 | 1761 |
| Gazprom PJSC<sup>3</sup> | 2248304 | —<sup>4</sup> |
|  |  | **108585** |

---

American Funds Insurance Series 93

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Communication services 4.97%** |  |  |
| Alphabet, Inc., Class C<sup>1</sup> | 185056 | $16420 |
| Alphabet, Inc., Class A<sup>1</sup> | 90146 | 7954 |
| Netflix, Inc.<sup>1</sup> | 30480 | 8988 |
| Comcast Corp., Class A | 225329 | 7880 |
| SoftBank Corp. | 536785 | 6069 |
| NetEase, Inc. | 348000 | 5073 |
| Publicis Groupe SA | 78301 | 4972 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 38469 | 4629 |
| Sea, Ltd., Class A (ADR)<sup>1</sup> | 85765 | 4462 |
| Universal Music Group NV | 148872 | 3594 |
| Bharti Airtel, Ltd. | 357140 | 3472 |
| Bharti Airtel, Ltd., interim shares | 13994 | 73 |
| Deutsche Telekom AG<sup>1</sup> | 161959 | 3230 |
| Singapore Telecommunications, Ltd. | 1510800 | 2901 |
| Omnicom Group, Inc. | 21678 | 1768 |
| Nippon Telegraph and Telephone Corp. | 53400 | 1524 |
| Tencent Holdings, Ltd. | 34300 | 1458 |
| Take-Two Interactive Software, Inc.<sup>1</sup> | 12130 | 1263 |
| Yandex NV, Class A<sup>1,3</sup> | 151598 | —<sup>4</sup> |
|  |  | **85730** |
| **Utilities 2.91%** |  |  |
| DTE Energy Company | 51844 | 6093 |
| Iberdrola, SA, non-registered shares | 502226 | 5875 |
| PG&E Corp.<sup>1</sup> | 322958 | 5251 |
| NextEra Energy, Inc. | 55877 | 4671 |
| E.ON SE | 439329 | 4385 |
| China Resources Gas Group, Ltd. | 1106532 | 4121 |
| Engie SA | 236678 | 3390 |
| Engie SA, bonus shares | 41586 | 596 |
| Edison International | 52162 | 3318 |
| Enel SpA | 583497 | 3138 |
| Exelon Corp. | 59727 | 2582 |
| Power Grid Corporation of India, Ltd. | 862367 | 2220 |
| AES Corp. | 47865 | 1377 |
| Endesa, SA | 67522 | 1274 |
| Constellation Energy Corp. | 12539 | 1081 |
| Public Service Enterprise Group, Inc. | 14569 | 893 |
|  |  | **50265** |
| **Real estate 1.01%** |  |  |
| Crown Castle, Inc. REIT | 39469 | 5353 |
| Longfor Group Holdings, Ltd. | 866238 | 2655 |
| American Tower Corp. REIT | 12107 | 2565 |
| China Resources Mixc Lifestyle Services, Ltd. | 358800 | 1823 |
| W. P. Carey, Inc. REIT | 22705 | 1774 |
| Americold Realty Trust, Inc. REIT | 62231 | 1762 |
| Sun Hung Kai Properties, Ltd. | 70500 | 965 |
| Iron Mountain, Inc. REIT | 11618 | 579 |
|  |  | **17476** |
| **Total common stocks** (cost: $1,368,680,000) |  | **1643012** |
| **Preferred securities** 0.16% |  |  |
| **Consumer discretionary 0.12%** |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares<sup>1</sup> | 19788 | **2007** |

---

94 American Funds Insurance Series

Capital World Growth and Income Fund (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Preferred securities** (continued) |  |  | Shares | Shares | Value <br> (000) |
| **Health care 0.03%** |  |  |  |  |  |
| Grifols, SA, Class B, nonvoting non-registered preferred shares<sup>1</sup> |  |  |  | 59790 | $**505** |
| **Financials 0.01%** |  |  |  |  |  |
| Fannie Mae, Series S, 8.25% noncumulative preferred shares<sup>1</sup> |  |  |  | 58870 | 138 |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares<sup>1</sup> |  |  |  | 61516 | 125 |
|  |  |  |  |  | **263** |
| **Total preferred securities** (cost: $3,231,000) |  |  |  |  | **2775** |
| **Convertible bonds & notes 0.05%** |  |  | Principal amount <br> (000) | Principal amount <br> (000) |  |
| **Communication services 0.05%** |  |  |  |  |  |
| Sea, Ltd., convertible notes, 2.375% 12/1/2025 |  |  | USD | 952 | **940** |
| **Total convertible bonds & notes** (cost: $2,437,000) |  |  |  |  | **940** |
| **Bonds, notes & other debt instruments 0.35%** | **Bonds, notes & other debt instruments 0.35%** | **Bonds, notes & other debt instruments 0.35%** |  |  |  |
| **Corporate bonds, notes & loans 0.29%** |  |  |  |  |  |
| **Health care 0.15%** |  |  |  |  |  |
| Teva Pharmaceutical Finance Co. BV 6.00% 4/15/2024 |  |  |  | 1600 | 1572 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  |  |  | 1100 | 964 |
|  |  |  |  |  | **2536** |
| **Consumer discretionary 0.07%** |  |  |  |  |  |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>5</sup> |  |  |  | 647 | 695 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028<sup>5</sup> |  |  |  | 390 | 312 |
| Royal Caribbean Cruises, Ltd. 8.25% 1/15/2029<sup>5</sup> |  |  |  | 151 | 152 |
| Royal Caribbean Cruises, Ltd. 9.25% 1/15/2029<sup>5</sup> |  |  |  | 125 | 129 |
|  |  |  |  |  | **1288** |
| **Energy 0.04%** |  |  |  |  |  |
| TransCanada PipeLines, Ltd. 5.10% 3/15/2049 |  |  |  | 800 | **729** |
| **Financials 0.03%** |  |  |  |  |  |
| Lloyds Banking Group PLC 3.369% 12/14/2046<sup>6</sup> |  |  |  | 709 | **462** |
| **Total corporate bonds, notes & loans** |  |  |  |  | **5015** |
| **Bonds & notes of governments & government agencies outside the U.S. 0.06%** | **Bonds & notes of governments & government agencies outside the U.S. 0.06%** |  |  |  |  |
| United Mexican States, Series M, 8.00% 12/7/2023 |  |  | MXN | 20000 | **1001** |
| **Total bonds, notes & other debt instruments** (cost: $6,581,000) |  |  |  |  | **6016** |
| **Short-term securities 4.42%** | Weighted <br> average yield <br> at acquisition | Weighted <br> average yield <br> at acquisition |  |  |  |
| **Commercial paper 4.04%** |  |  |  |  |  |
| DBS Bank, Ltd. 1/5/2023<sup>5</sup> |  | 3.640% | USD | 37100 | 37073 |
| DNB Bank ASA 3/2/2023<sup>5</sup> |  | 4.273 |  | 33000 | 32755 |
|  |  |  |  |  | **69828** |

---

American Funds Insurance Series 95

Capital World Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Short-term securities** (continued) | Shares | Value<br> (000) |
| **Money market investments purchased with collateral from securities on loan 0.34%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio,Institutional Class 4.22%<sup>7,8</sup> | 2893689 | $2894 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>7,8</sup> | 2827563 | 2827 |
| Capital Group Central Cash Fund 4.31%<sup>7,8,9</sup> | 1112 | 111 |
|  |  | **5832** |
| **Money market investments 0.04%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>7,9</sup> | 6929 | **693** |
| **Total short-term securities** (cost: $76,365,000) |  | **76353** |
| **Total investment securities 100.21%** (cost: $1,457,294,000) |  | **1729096** |
| Other assets less liabilities (0.21)% |  | (3698) |
| **Net assets 100.00%** |  | $**1725398** |

---

**Investments in affiliates<sup>9</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of <br>affiliates at <br>1/1/2022 <br>(000)** | **Additions <br>(000)** | **Reductions <br>(000)** | **Net <br>realized <br>gain <br>(000)** | **Net <br>unrealized <br>depreciation <br>(000)** | **Value of <br>affiliates at <br>12/31/2022 <br>(000)** | **Dividend <br>income <br>(000)** |
| **Short-term securities 0.05%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.01%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7,8</sup> | $293 | $— | $182<sup>10</sup> | $— | $— | $111 | $—<sup>11</sup> |
| &nbsp;&nbsp;&nbsp;**Money market investments 0.04%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>7</sup> | 12989 | 493820 | 506123 | 8 | (1) | 693 | 1469 |
| &nbsp;&nbsp;&nbsp;**Total 0.05%** |  |  |  | $8 | $(1) | $804 | $1469 |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $6,155,000, which represented .36% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Amount less than one thousand.

<sup>5</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $71,116,000, which represented 4.12% of the net assets of the fund.

<sup>6</sup> Step bond; coupon rate may change at a later date.

<sup>7</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>8</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>9</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>10</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>11</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

CDI = CREST Depository Interest

GBP = British pounds

MXN = Mexican pesos

REIT = Real Estate Investment Trust

SDR = Swedish Depositary Receipts

USD = U.S. dollars

Refer to the notes to financial statements.

96 American Funds Insurance Series

Growth-Income Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 91.48%** | Shares | Value<br> (000) |
| **Information technology 20.19%** |  |  |
| Microsoft Corp. | 7759381 | $1860855 |
| Broadcom, Inc. | 2430747 | 1359104 |
| Mastercard, Inc., Class A | 1487948 | 517404 |
| Apple, Inc. | 2169231 | 281848 |
| Visa, Inc., Class A | 1346541 | 279757 |
| ASML Holding NV | 215068 | 116417 |
| ASML Holding NV (New York registered) (ADR) | 137293 | 75017 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 12123000 | 176689 |
| Automatic Data Processing, Inc. | 718796 | 171692 |
| Fidelity National Information Services, Inc. | 2472310 | 167746 |
| Accenture PLC, Class A | 625335 | 166864 |
| Applied Materials, Inc. | 1686100 | 164192 |
| Concentrix Corp. | 904367 | 120426 |
| Micron Technology, Inc. | 2363454 | 118125 |
| ServiceNow, Inc.<sup>1</sup> | 294412 | 114311 |
| GoDaddy, Inc., Class A<sup>1</sup> | 1402444 | 104931 |
| Global Payments, Inc. | 973628 | 96701 |
| FleetCor Technologies, Inc.<sup>1</sup> | 420507 | 77239 |
| Analog Devices, Inc. | 398402 | 65350 |
| QUALCOMM, Inc. | 564911 | 62106 |
| Fiserv, Inc.<sup>1</sup> | 536700 | 54244 |
| Texas Instruments, Inc. | 309811 | 51187 |
| Adobe, Inc.<sup>1</sup> | 143116 | 48163 |
| TELUS International (Cda), Inc., subordinate voting shares<sup>1</sup> | 2302991 | 45576 |
| KLA Corp. | 116000 | 43736 |
| MKS Instruments, Inc. | 481000 | 40755 |
| Cognizant Technology Solutions Corp., Class A | 682850 | 39052 |
| NVIDIA Corp. | 239765 | 35039 |
| Snowflake, Inc., Class A<sup>1</sup> | 225042 | 32303 |
| Datadog, Inc., Class A<sup>1</sup> | 365800 | 26886 |
| Intel Corp. | 1000000 | 26430 |
| Ceridian HCM Holding, Inc.<sup>1</sup> | 350352 | 22475 |
| Trimble, Inc.<sup>1</sup> | 443800 | 22439 |
| Lam Research Corp. | 50039 | 21031 |
| Dye & Durham, Ltd.<sup>2</sup> | 1322100 | 16023 |
| Paychex, Inc. | 127131 | 14691 |
| VeriSign, Inc.<sup>1</sup> | 61000 | 12532 |
| Atlassian Corp., Class A<sup>1</sup> | 52744 | 6787 |
| Euronet Worldwide, Inc.<sup>1</sup> | 27800 | 2624 |
|  |  | **6658747** |
| **Industrials 14.17%** |  |  |
| Raytheon Technologies Corp. | 7634279 | 770451 |
| General Electric Co. | 6238229 | 522701 |
| Northrop Grumman Corp. | 633267 | 345517 |
| TFI International, Inc. | 2669105 | 267551 |
| Carrier Global Corp. | 5549584 | 228920 |
| TransDigm Group, Inc. | 340571 | 214441 |
| Woodward, Inc. | 2204500 | 212977 |
| General Dynamics Corp. | 848975 | 210639 |
| Airbus SE, non-registered shares | 1617590 | 192335 |
| Waste Connections, Inc. | 1425463 | 188959 |
| L3Harris Technologies, Inc. | 840290 | 174957 |
| Old Dominion Freight Line, Inc. | 525000 | 148985 |
| BWX Technologies, Inc. | 2159505 | 125424 |
| Norfolk Southern Corp. | 482759 | 118962 |
| United Rentals, Inc.<sup>1</sup> | 296000 | 105204 |
| ITT, Inc. | 1244379 | 100919 |
| Waste Management, Inc. | 625300 | 98097 |
| Equifax, Inc. | 490008 | 95238 |
| Air Lease Corp., Class A | 2097300 | 80578 |
| Honeywell International, Inc. | 364682 | 78151 |

---

American Funds Insurance Series 97

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Industrials (continued)** |  |  |
| Fortive Corp. | 1085000 | $69711 |
| United Airlines Holdings, Inc.<sup>1</sup> | 1810598 | 68260 |
| Safran SA | 539713 | 67444 |
| Lockheed Martin Corp. | 110000 | 53514 |
| GFL Environmental, Inc., subordinate voting shares | 1600000 | 46768 |
| CSX Corp. | 1171873 | 36305 |
| Otis Worldwide Corp. | 268100 | 20995 |
| Fastenal Co. | 379747 | 17970 |
| Boeing Company<sup>1</sup> | 62500 | 11906 |
|  |  | **4673879** |
| **Health care 13.30%** |  |  |
| UnitedHealth Group, Inc. | 2035435 | 1079147 |
| Abbott Laboratories | 6014324 | 660313 |
| AbbVie, Inc. | 3742689 | 604856 |
| Novo Nordisk A/S, Class B | 2431449 | 329218 |
| Humana, Inc. | 487426 | 249655 |
| AstraZeneca PLC | 1209323 | 164124 |
| AstraZeneca PLC (ADR) | 721200 | 48897 |
| Elevance Health, Inc. | 366614 | 188062 |
| Thermo Fisher Scientific, Inc. | 265602 | 146264 |
| Bristol-Myers Squibb Company | 1994278 | 143488 |
| Eli Lilly and Company | 360974 | 132059 |
| Pfizer, Inc. | 2180169 | 111712 |
| PerkinElmer, Inc. | 769600 | 107913 |
| Seagen, Inc.<sup>1</sup> | 654515 | 84112 |
| Horizon Therapeutics PLC<sup>1</sup> | 421815 | 48002 |
| Zoetis, Inc., Class A | 305121 | 44715 |
| Tandem Diabetes Care, Inc.<sup>1</sup> | 910186 | 40913 |
| Stryker Corp. | 148897 | 36404 |
| Medtronic PLC | 413597 | 32145 |
| Roche Holding AG, nonvoting non-registered shares | 85502 | 26870 |
| Penumbra, Inc.<sup>1</sup> | 117381 | 26113 |
| Edwards Lifesciences Corp.<sup>1</sup> | 317059 | 23656 |
| Zimmer Biomet Holdings, Inc. | 171174 | 21825 |
| Takeda Pharmaceutical Company, Ltd. | 464600 | 14511 |
| NovoCure, Ltd.<sup>1</sup> | 193600 | 14200 |
| Vir Biotechnology, Inc.<sup>1</sup> | 258400 | 6540 |
|  |  | **4385714** |
| **Financials 8.78%** |  |  |
| JPMorgan Chase & Co. | 3394830 | 455247 |
| Chubb, Ltd. | 1451726 | 320251 |
| Marsh & McLennan Companies, Inc. | 1709201 | 282839 |
| Arthur J. Gallagher & Co. | 1189650 | 224297 |
| Nasdaq, Inc. | 2761260 | 169403 |
| BlackRock, Inc. | 202957 | 143821 |
| Morgan Stanley | 1592297 | 135377 |
| Aon PLC, Class A | 442013 | 132666 |
| B3 SA-Brasil, Bolsa, Balcao | 39829500 | 99654 |
| Berkshire Hathaway, Inc., Class B<sup>1</sup> | 285000 | 88037 |
| State Street Corp. | 1077260 | 83563 |
| Webster Financial Corp. | 1701139 | 80532 |
| American International Group, Inc. | 1272230 | 80456 |
| Signature Bank | 669947 | 77191 |
| S&P Global, Inc. | 228138 | 76413 |
| Moody's Corp. | 216306 | 60267 |
| Power Corporation of Canada, subordinate voting shares<sup>2</sup> | 2293100 | 53940 |
| Wells Fargo & Company | 1298041 | 53596 |
| Blue Owl Capital, Inc., Class A | 4749165 | 50341 |
| MSCI, Inc. | 98300 | 45726 |
| TPG, Inc., Class A | 1347552 | 37502 |

---

98 American Funds Insurance Series

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Financials (continued)** |  |  |
| LPL Financial Holdings, Inc. | 169900 | $36727 |
| Western Alliance Bancorporation | 486936 | 29002 |
| Citizens Financial Group, Inc. | 728750 | 28691 |
| Bank of America Corp. | 791332 | 26209 |
| PNC Financial Services Group, Inc. | 152679 | 24114 |
| CME Group, Inc., Class A | 5500 | 925 |
|  |  | **2896787** |
| **Consumer discretionary 7.82%** |  |  |
| Amazon.com, Inc.<sup>1</sup> | 5804151 | 487549 |
| General Motors Company | 8736000 | 293879 |
| Dollar Tree Stores, Inc.<sup>1</sup> | 1279006 | 180903 |
| Home Depot, Inc. | 551165 | 174091 |
| Hilton Worldwide Holdings, Inc. | 1177320 | 148766 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 2958586 | 146243 |
| Wyndham Hotels & Resorts, Inc. | 1842940 | 131420 |
| D.R. Horton, Inc. | 1325599 | 118164 |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 70670 | 98054 |
| Burlington Stores, Inc.<sup>1</sup> | 399428 | 80988 |
| InterContinental Hotels Group PLC | 1396700 | 80392 |
| Starbucks Corp. | 767500 | 76136 |
| NIKE, Inc., Class B | 629740 | 73686 |
| Dollar General Corp. | 291102 | 71684 |
| Lear Corp. | 569068 | 70576 |
| Kering SA | 101695 | 52046 |
| Aptiv PLC<sup>1</sup> | 447289 | 41656 |
| Darden Restaurants, Inc. | 296000 | 40946 |
| CarMax, Inc.<sup>1</sup> | 650000 | 39578 |
| Churchill Downs, Inc. | 185426 | 39205 |
| Airbnb, Inc., Class A<sup>1</sup> | 350000 | 29925 |
| Norwegian Cruise Line Holdings, Ltd.<sup>1</sup> | 2177187 | 26649 |
| YUM! Brands, Inc. | 196630 | 25184 |
| NVR, Inc.<sup>1</sup> | 5298 | 24437 |
| Rivian Automotive, Inc., Class A<sup>1</sup> | 1071576 | 19749 |
| McDonald's Corp. | 25000 | 6588 |
|  |  | **2578494** |
| **Communication services 7.52%** |  |  |
| Alphabet, Inc., Class C<sup>1</sup> | 5068984 | 449771 |
| Alphabet, Inc., Class A<sup>1</sup> | 4841135 | 427133 |
| Netflix, Inc.<sup>1</sup> | 1812523 | 534477 |
| Comcast Corp., Class A | 11970266 | 418600 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 3113843 | 374720 |
| Charter Communications, Inc., Class A<sup>1</sup> | 378097 | 128213 |
| Electronic Arts, Inc. | 843700 | 103083 |
| T-Mobile US, Inc.<sup>1</sup> | 181772 | 25448 |
| Take-Two Interactive Software, Inc.<sup>1</sup> | 178984 | 18638 |
|  |  | **2480083** |
| **Consumer staples 5.80%** |  |  |
| Philip Morris International, Inc. | 6790089 | 687225 |
| British American Tobacco PLC | 9433859 | 374286 |
| Keurig Dr Pepper, Inc. | 6469367 | 230698 |
| General Mills, Inc. | 1378800 | 115612 |
| Mondelez International, Inc. | 1506161 | 100386 |
| Molson Coors Beverage Company, Class B, restricted voting shares | 1620313 | 83478 |
| Anheuser-Busch InBev SA/NV | 1339531 | 80530 |
| Archer Daniels Midland Company | 670100 | 62219 |
| Constellation Brands, Inc., Class A | 237807 | 55112 |
| Bunge, Ltd. | 538852 | 53761 |

---

American Funds Insurance Series 99

Growth-Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer staples (continued)** |  |  |
| Procter & Gamble Company | 180677 | $27383 |
| Kraft Heinz Company | 567200 | 23091 |
| Monster Beverage Corp.<sup>1</sup> | 178560 | 18129 |
|  |  | **1911910** |
| **Energy 4.78%** |  |  |
| Chevron Corp. | 2053300 | 368547 |
| ConocoPhillips | 2749013 | 324383 |
| Canadian Natural Resources, Ltd. (CAD denominated) | 4947114 | 274722 |
| Baker Hughes Co., Class A | 7353936 | 217162 |
| EOG Resources, Inc. | 620310 | 80343 |
| TC Energy Corp. (CAD denominated)<sup>2</sup> | 1849358 | 73728 |
| Exxon Mobil Corp. | 660220 | 72822 |
| Equitrans Midstream Corp. | 10215807 | 68446 |
| Suncor Energy, Inc. | 1451133 | 46031 |
| Cheniere Energy, Inc. | 238735 | 35801 |
| Diamondback Energy, Inc. | 117500 | 16072 |
|  |  | **1578057** |
| **Utilities 4.04%** |  |  |
| PG&E Corp.<sup>1</sup> | 25776996 | 419134 |
| Edison International | 2689330 | 171095 |
| Entergy Corp. | 1304500 | 146756 |
| Constellation Energy Corp. | 1414838 | 121973 |
| Sempra Energy | 690000 | 106633 |
| CenterPoint Energy, Inc. | 2840104 | 85175 |
| AES Corp. | 2803707 | 80635 |
| Enel SpA | 12931498 | 69549 |
| NextEra Energy, Inc. | 585000 | 48906 |
| DTE Energy Company | 401000 | 47129 |
| CMS Energy Corp. | 551001 | 34895 |
|  |  | **1331880** |
| **Materials 3.24%** |  |  |
| Linde PLC | 1122332 | 366082 |
| Vale SA (ADR), ordinary nominative shares | 5459475 | 92647 |
| Vale SA, ordinary nominative shares | 3404848 | 57318 |
| LyondellBasell Industries NV | 1735980 | 144138 |
| Albemarle Corp. | 540457 | 117204 |
| Freeport-McMoRan, Inc. | 2382960 | 90553 |
| Corteva, Inc. | 1405942 | 82641 |
| ATI, Inc.<sup>1</sup> | 1769447 | 52836 |
| Barrick Gold Corp. | 2373000 | 40768 |
| Sherwin-Williams Company | 101038 | 23979 |
|  |  | **1068166** |
| **Real estate 1.84%** |  |  |
| VICI Properties, Inc. REIT | 9124903 | 295647 |
| Equinix, Inc. REIT | 298158 | 195302 |
| Crown Castle, Inc. REIT | 864782 | 117299 |
|  |  | **608248** |
| **Total common stocks** (cost: $19,921,309,000) |  | **30171965** |
| **Convertible stocks 0.83%** |  |  |
| **Health care 0.51%** |  |  |
| Danaher Corp., Series B, cumulative convertible preferred shares, 5.00% 4/15/2023<sup>2</sup> | 123957 | **168154** |

---

100 American Funds Insurance Series

Growth-Income Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Convertible stocks** (continued) | Shares | Shares | Value<br> (000) |
| **Consumer discretionary 0.14%** |  |  |  |
| Aptiv PLC, Series A, convertible preferred shares, 5.50% 6/15/2023 |  | 420075 | $**45082** |
| **Utilities 0.09%** |  |  |  |
| NextEra Energy, Inc., noncumulative convertible preferred units, 6.926% 9/1/2025 |  | 617200 | **30977** |
| **Financials 0.09%** |  |  |  |
| KKR & Co., Inc., Series C, convertible preferred shares, 6.00% 9/15/2023 |  | 527700 | **30211** |
| **Total convertible stocks** (cost: $288,316,000) |  |  | **274424** |
| **Bonds, notes & other debt instruments 0.02%** | Principal amount<br> (000) | Principal amount<br> (000) |  |
| **Corporate bonds, notes & loans 0.02%** |  |  |  |
| **Industrials 0.02%** |  |  |  |
| Boeing Company 4.875% 5/1/2025 | USD | 4706 | **4674** |
| **Consumer discretionary 0.00%** |  |  |  |
| General Motors Financial Co. 4.30% 7/13/2025 |  | 160 | 155 |
| General Motors Financial Co. 5.25% 3/1/2026 |  | 827 | 815 |
|  |  |  | **970** |
| **Energy 0.00%** |  |  |  |
| Weatherford International, Ltd. 11.00% 12/1/2024<sup>3</sup> |  | 265 | **272** |
| **Total corporate bonds, notes & loans** |  |  | **5916** |
| **Total bonds, notes & other debt instruments** (cost: $5,868,000) |  |  | **5916** |
| **Short-term securities 8.45%** |  | Shares |  |
| **Money market investments 7.77%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>4,5</sup> |  | 25654468 | **2565190** |
| **Money market investments purchased with collateral from securities on loan 0.68%** |  |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>4,6</sup> |  | 92462113 | 92462 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>4,6</sup> |  | 91131298 | 91131 |
| Capital Group Central Cash Fund 4.31%<sup>4,5,6</sup> |  | 402344 | 40231 |
|  |  |  | **223824** |
| **Total short-term securities** (cost: $2,788,688,000) |  |  | **2789014** |
| **Total investment securities 100.78%** (cost: $23,004,181,000) |  |  | **33241319** |
| Other assets less liabilities (0.78)% |  |  | (258352) |
| **Net assets 100.00%** |  |  | $**32982967** |

---

American Funds Insurance Series 101

Growth-Income Fund (continued)

**Investments in affiliates<sup>5</sup>**

**** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of <br> affiliates at <br> 1/1/2022 <br> (000)** | **Additions <br> (000)** | **Reductions <br> (000)** | **Net<br> realized <br> loss <br> (000)** | **Net<br> unrealized<br> appreciation <br> (000)** | **Value of<br> affiliates at<br> 12/31/2022 <br> (000)** | **Dividend <br> income <br> (000)** |
| **Short-term securities 7.89%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 7.77%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>4</sup> | $1220761 | $5840874 | $4496259 | $(316) | $130 | $2565190 | $40278 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.12%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>4,6</sup> | 39148 | 1083<sup>7</sup> |  |  |  | 40231 | —<sup>8</sup> |
| **Total 7.89%** |  |  |  | $(316) | $130 | $2605421 | $40278 |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $240,456,000, which represented .73% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $272,000, which represented less than .01% of the net assets of the fund.

<sup>4</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>5</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>6</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>7</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>8</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

REIT = Real Estate Investment Trust

USD = U.S. dollars

Refer to the notes to financial statements.

102 American Funds Insurance Series

International Growth and Income Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 96.75%** | Shares | Value<br> (000) |
| **Financials 16.53%** |  |  |
| AIA Group, Ltd. | 408000 | $4495 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 643000 | 4244 |
| AXA SA | 114432 | 3189 |
| Zurich Insurance Group AG | 5399 | 2580 |
| HDFC Bank, Ltd. | 118266 | 2328 |
| Tokio Marine Holdings, Inc. | 105200 | 2252 |
| UniCredit SpA | 132526 | 1885 |
| Toronto-Dominion Bank (CAD denominated) | 28953 | 1875 |
| Société Générale | 70627 | 1772 |
| DNB Bank ASA | 78454 | 1553 |
| Euronext NV | 20312 | 1506 |
| Banco Bilbao Vizcaya Argentaria, SA | 216058 | 1305 |
| Aon PLC, Class A | 4301 | 1291 |
| Hana Financial Group, Inc. | 37354 | 1250 |
| London Stock Exchange Group PLC | 12717 | 1097 |
| Hang Seng Bank, Ltd. | 66200 | 1096 |
| B3 SA-Brasil, Bolsa, Balcao | 407901 | 1021 |
| UBS Group AG | 54178 | 1010 |
| Industrial and Commercial Bank of China, Ltd., Class H | 1959040 | 1009 |
| Banco Santander, SA | 307795 | 922 |
| Resona Holdings, Inc. | 167200 | 918 |
| XP, Inc., Class A<sup>1</sup> | 53223 | 816 |
| Prudential PLC | 55866 | 756 |
| Erste Group Bank AG | 22556 | 719 |
| DBS Group Holdings, Ltd. | 26695 | 676 |
| Bank Leumi Le-Israel BM | 77681 | 648 |
| Discovery, Ltd.<sup>1</sup> | 88847 | 645 |
| Tryg A/S | 25561 | 606 |
| ABN AMRO Bank NV | 42512 | 587 |
| HDFC Life Insurance Company, Ltd. | 82955 | 566 |
| China Merchants Bank Co., Ltd., Class H | 98500 | 546 |
| Kotak Mahindra Bank, Ltd. | 23335 | 513 |
| Israel Discount Bank Ltd., Class A | 87914 | 462 |
| Banca Generali SpA | 13051 | 449 |
| ICICI Bank, Ltd. (ADR) | 18198 | 398 |
| Islandsbanki hf. | 466167 | 394 |
| Skandinaviska Enskilda Banken AB, Class A | 32490 | 374 |
| Brookfield Corp., Class A (CAD denominated) | 10905 | 343 |
| Grupo Financiero Banorte, SAB de CV, Series O | 41185 | 296 |
| ICICI Securities, Ltd. | 45682 | 275 |
| Postal Savings Bank of China Co., Ltd., Class H | 437000 | 270 |
| ING Groep NV | 21878 | 267 |
| EQT AB | 11659 | 248 |
| United Overseas Bank, Ltd. | 5400 | 124 |
| AU Small Finance Bank, Ltd. | 12289 | 97 |
| Brookfield Asset Management, Ltd., Class A (CAD denominated)<sup>1</sup> | 2726 | 78 |
| Moscow Exchange MICEX-RTS PJSC<sup>1,2</sup> | 346177 | —<sup>3</sup> |
| Sberbank of Russia PJSC<sup>1,2</sup> | 476388 | —<sup>3</sup> |
|  |  | **49751** |
| **Industrials 11.96%** |  |  |
| Airbus SE, non-registered shares | 51245 | 6093 |
| BAE Systems PLC | 413069 | 4269 |
| Alliance Global Group, Inc. | 7895900 | 1689 |
| ABB, Ltd. | 50534 | 1539 |
| Rheinmetall AG | 7314 | 1457 |
| SMC Corp. | 3100 | 1312 |
| Daikin Industries, Ltd. | 8400 | 1292 |
| RELX PLC | 46516 | 1289 |
| Brenntag SE | 19924 | 1274 |
| Bunzl PLC | 34974 | 1167 |
| CCR SA, ordinary nominative shares | 565458 | 1159 |

---

American Funds Insurance Series 103

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Industrials (continued)** |  |  |
| Ryanair Holdings PLC (ADR)<sup>1</sup> | 13626 | $1019 |
| Safran SA | 7664 | 958 |
| InPost SA<sup>1</sup> | 109547 | 926 |
| Cathay Pacific Airways, Ltd.<sup>1,4</sup> | 787000 | 856 |
| LIXIL Corp. | 50900 | 776 |
| Mitsui & Co., Ltd. | 25200 | 733 |
| Waste Connections, Inc. (CAD denominated) | 5192 | 688 |
| Experian PLC | 17789 | 606 |
| TFI International, Inc. (CAD denominated) | 5936 | 594 |
| Techtronic Industries Co., Ltd. | 50500 | 562 |
| Caterpillar, Inc. | 2260 | 541 |
| BELIMO Holding AG | 1112 | 531 |
| Epiroc AB, Class A | 19779 | 362 |
| Epiroc AB, Class B | 10197 | 164 |
| Canadian Pacific Railway, Ltd. (CAD denominated) | 6837 | 510 |
| Interpump Group SpA | 9158 | 415 |
| Deutsche Post AG | 9640 | 363 |
| Siemens AG | 2589 | 359 |
| Nidec Corp. | 6900 | 359 |
| DSV A/S | 2161 | 343 |
| Japan Airlines Co., Ltd.<sup>1</sup> | 16500 | 338 |
| Adecco Group AG | 10191 | 335 |
| Kone OYJ, Class B | 5245 | 272 |
| ASSA ABLOY AB, Class B | 11710 | 252 |
| Wizz Air Holdings PLC<sup>1</sup> | 9714 | 222 |
| SITC International Holdings Co., Ltd. | 79659 | 176 |
| Hitachi, Ltd. | 2400 | 121 |
| Polycab India, Ltd. | 2077 | 64 |
| Husqvarna AB, Class B | 1503 | 11 |
|  |  | **35996** |
| **Consumer discretionary 11.78%** |  |  |
| Evolution AB | 44081 | 4305 |
| LVMH Moët Hennessy-Louis Vuitton SE | 5830 | 4235 |
| MGM China Holdings, Ltd.<sup>1</sup> | 2330000 | 2568 |
| Renault SA<sup>1</sup> | 75272 | 2508 |
| Sands China, Ltd.<sup>1</sup> | 568372 | 1883 |
| Restaurant Brands International, Inc. (CAD denominated) | 26120 | 1689 |
| InterContinental Hotels Group PLC | 25528 | 1469 |
| Wynn Macau, Ltd.<sup>1</sup> | 1317200 | 1468 |
| Prosus NV, Class N | 19085 | 1310 |
| Midea Group Co., Ltd., Class A | 170800 | 1269 |
| Galaxy Entertainment Group, Ltd. | 184000 | 1218 |
| Sodexo SA | 11689 | 1118 |
| adidas AG | 8004 | 1093 |
| Li Ning Co., Ltd. | 122500 | 1051 |
| B&M European Value Retail SA | 203086 | 1012 |
| Nitori Holdings Co., Ltd. | 6200 | 804 |
| Industria de Diseño Textil, SA | 29903 | 796 |
| Paltac Corp. | 21900 | 767 |
| Valeo SA, non-registered shares | 40170 | 716 |
| Stellantis NV | 43832 | 621 |
| OPAP SA | 41296 | 585 |
| Entain PLC | 33218 | 533 |
| Coupang, Inc., Class A<sup>1</sup> | 32030 | 471 |
| D'Ieteren Group | 2035 | 392 |
| Americanas SA, ordinary nominative shares | 149913 | 274 |
| Games Workshop Group PLC | 2532 | 262 |
| IDP Education, Ltd. | 13164 | 243 |
| JD.com, Inc., Class A | 7174 | 202 |
| Pan Pacific International Holdings Corp. | 9000 | 167 |
| Kering SA | 287 | 147 |

---

104 American Funds Insurance Series

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer discretionary (continued)** |  |  |
| Balkrishna Industries, Ltd. | 4894 | $126 |
| Dixon Technologies (India), Ltd. | 1902 | 90 |
| MercadoLibre, Inc.<sup>1</sup> | 88 | 75 |
|  |  | **35467** |
| **Consumer staples 11.46%** |  |  |
| British American Tobacco PLC | 196339 | 7790 |
| Philip Morris International, Inc. | 65119 | 6591 |
| Nestlé SA | 26069 | 3011 |
| Anheuser-Busch InBev SA/NV | 40759 | 2450 |
| Carlsberg A/S, Class B | 18056 | 2390 |
| Kweichow Moutai Co., Ltd., Class A | 9490 | 2348 |
| Pernod Ricard SA | 6241 | 1227 |
| Japan Tobacco, Inc. | 58100 | 1175 |
| Asahi Group Holdings, Ltd. | 33300 | 1037 |
| Foshan Haitian Flavouring and Food Co., Ltd., Class A | 77954 | 892 |
| Arca Continental, SAB de CV | 108287 | 879 |
| Carrefour SA, non-registered shares | 47224 | 790 |
| KT&G Corp. | 9986 | 722 |
| Varun Beverages, Ltd. | 43375 | 691 |
| Ocado Group PLC<sup>1</sup> | 80608 | 607 |
| Imperial Brands PLC | 20722 | 518 |
| L'Oréal SA, non-registered shares | 1190 | 427 |
| Reckitt Benckiser Group PLC | 5140 | 357 |
| Haleon PLC<sup>1</sup> | 60392 | 241 |
| Danone SA | 4351 | 229 |
| Avenue Supermarts, Ltd.<sup>1</sup> | 2324 | 114 |
|  |  | **34486** |
| **Information technology 10.82%** |  |  |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 517000 | 7535 |
| ASML Holding NV | 10887 | 5893 |
| Edenred SA | 50178 | 2730 |
| Tokyo Electron, Ltd. | 8300 | 2466 |
| Samsung Electronics Co., Ltd. | 41896 | 1848 |
| MediaTek, Inc. | 87000 | 1767 |
| Broadcom, Inc. | 2678 | 1497 |
| SAP SE | 13056 | 1347 |
| Keyence Corp. | 2700 | 1057 |
| Kingdee International Software Group Co., Ltd.<sup>1</sup> | 444000 | 945 |
| Logitech International SA | 14465 | 898 |
| Nokia Corp. | 184789 | 859 |
| TDK Corp. | 25500 | 828 |
| Capgemini SE | 4791 | 804 |
| ASM International NV | 2074 | 525 |
| Vanguard International Semiconductor Corp. | 186000 | 468 |
| Halma PLC | 12131 | 290 |
| Amadeus IT Group SA, Class A, non-registered shares<sup>1</sup> | 4613 | 238 |
| Nice, Ltd. (ADR)<sup>1</sup> | 888 | 171 |
| Fujitsu, Ltd. | 1000 | 132 |
| eMemory Technology, Inc. | 3000 | 130 |
| Nomura Research Institute, Ltd. | 5300 | 126 |
|  |  | **32554** |
| **Health care 10.34%** |  |  |
| AstraZeneca PLC | 77983 | 10584 |
| Novo Nordisk A/S, Class B | 49782 | 6740 |
| Sanofi | 28623 | 2770 |
| EssilorLuxottica | 10095 | 1838 |
| Siemens Healthineers AG | 34852 | 1744 |
| Bayer AG | 32378 | 1672 |
| GSK PLC | 49438 | 860 |

---

American Funds Insurance Series 105

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care (continued)** |  |  |
| Genus PLC | 21154 | $762 |
| Grifols, SA, Class B (ADR)<sup>1</sup> | 88384 | 751 |
| EUROAPI<sup>1</sup> | 39510 | 586 |
| Shionogi & Co., Ltd. | 9600 | 478 |
| Lonza Group AG | 927 | 456 |
| Roche Holding AG, nonvoting non-registered shares | 1328 | 417 |
| Novartis AG | 4476 | 405 |
| BeiGene, Ltd. (ADR)<sup>1</sup> | 1387 | 305 |
| Hypera SA, ordinary nominative shares | 30419 | 260 |
| Innovent Biologics, Inc.<sup>1</sup> | 48500 | 208 |
| CanSino Biologics, Inc., Class H<sup>4</sup> | 22800 | 195 |
| HOYA Corp. | 1000 | 97 |
|  |  | **31128** |
| **Energy 7.77%** |  |  |
| TotalEnergies SE | 89101 | 5561 |
| BP PLC | 643014 | 3739 |
| TechnipFMC PLC<sup>1</sup> | 186903 | 2279 |
| Equinor ASA | 57576 | 2065 |
| TC Energy Corp. (CAD denominated) | 42686 | 1702 |
| Schlumberger, Ltd. | 30187 | 1614 |
| Canadian Natural Resources, Ltd. (CAD denominated)<sup>4</sup> | 25703 | 1427 |
| Aker BP ASA | 43949 | 1370 |
| Cameco Corp. (CAD denominated) | 52625 | 1193 |
| Reliance Industries, Ltd. | 18972 | 582 |
| Gaztransport & Technigaz SA | 4690 | 501 |
| Tourmaline Oil Corp. | 9772 | 493 |
| Woodside Energy Group, Ltd. | 18414 | 446 |
| INPEX Corp. | 31500 | 336 |
| Var Energi ASA | 20924 | 72 |
| Sovcomflot PAO<sup>1,2</sup> | 356717 | —<sup>3</sup> |
| Gazprom PJSC<sup>2</sup> | 671150 | —<sup>3</sup> |
| LUKOIL Oil Co. PJSC<sup>2</sup> | 9706 | —<sup>3</sup> |
|  |  | **23380** |
| **Materials 5.76%** |  |  |
| Vale SA, ordinary nominative shares | 198640 | 3344 |
| Vale SA (ADR), ordinary nominative shares | 80910 | 1373 |
| Linde PLC | 7570 | 2469 |
| Glencore PLC | 306363 | 2049 |
| Barrick Gold Corp. | 94562 | 1625 |
| Barrick Gold Corp. (CAD denominated) | 13543 | 232 |
| UPM-Kymmene OYJ | 23659 | 887 |
| Rio Tinto PLC | 10464 | 734 |
| Asahi Kasei Corp. | 99900 | 710 |
| Air Liquide SA, non-registered shares | 4908 | 698 |
| Fresnillo PLC | 58201 | 632 |
| Koninklijke DSM NV | 5120 | 628 |
| Sociedad Química y Minera de Chile SA, Class B (ADR) | 7688 | 614 |
| Fortescue Metals Group, Ltd. | 42173 | 588 |
| Sika AG | 1500 | 362 |
| Shin-Etsu Chemical Co., Ltd. | 1900 | 231 |
| Givaudan SA | 52 | 158 |
| Alrosa PJSC<sup>1,2</sup> | 53607 | —<sup>3</sup> |
|  |  | **17334** |
| **Communication services 5.66%** |  |  |
| Koninklijke KPN NV | 752688 | 2329 |
| Nippon Telegraph and Telephone Corp. | 81600 | 2329 |
| Tencent Holdings, Ltd. | 50600 | 2151 |
| Telefónica, SA, non-registered shares | 402982 | 1459 |
| Publicis Groupe SA | 22225 | 1411 |

---

106 American Funds Insurance Series

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Communication services (continued)** |  |  |
| Sea, Ltd., Class A (ADR)<sup>1</sup> | 21542 | $1121 |
| BT Group PLC | 635302 | 863 |
| SoftBank Corp. | 76200 | 862 |
| Vodafone Group PLC | 839939 | 851 |
| América Móvil, SAB de CV, Series L (ADR) | 41487 | 755 |
| Singapore Telecommunications, Ltd. | 319600 | 614 |
| Deutsche Telekom AG<sup>1</sup> | 29435 | 587 |
| Indus Towers, Ltd. | 246737 | 567 |
| Viaplay Group AB, Class B<sup>1</sup> | 20606 | 393 |
| MTN Group, Ltd. | 44802 | 336 |
| Universal Music Group NV | 9460 | 228 |
| NetEase, Inc. | 10800 | 157 |
| Sitios Latinoamerica, SAB de CV, Class B1<sup>1</sup> | 40380 | 19 |
| Yandex NV, Class A<sup>1,2</sup> | 5000 | —<sup>3</sup> |
|  |  | **17032** |
| **Utilities 3.07%** |  |  |
| Engie SA | 190787 | 2733 |
| Enel SpA | 397417 | 2137 |
| ENN Energy Holdings, Ltd. | 118100 | 1648 |
| Brookfield Infrastructure Partners, LP | 36875 | 1142 |
| National Grid PLC | 43151 | 518 |
| Iberdrola, SA, non-registered shares | 37788 | 442 |
| China Resources Gas Group, Ltd. | 106200 | 396 |
| Veolia Environnement | 9023 | 232 |
|  |  | **9248** |
| **Real estate 1.60%** |  |  |
| CK Asset Holdings, Ltd. | 327000 | 2014 |
| Longfor Group Holdings, Ltd. | 351500 | 1077 |
| Link REIT | 108007 | 793 |
| Unibail-Rodamco-Westfield REIT, non-registered shares<sup>1</sup> | 10561 | 551 |
| Embassy Office Parks REIT | 94895 | 385 |
|  |  | **4820** |
| **Total common stocks** (cost: $287,727,000) |  | **291196** |
| **Preferred securities 0.63%** |  |  |
| **Materials 0.40%** |  |  |
| Gerdau SA, preferred nominative shares | 216930 | **1207** |
| **Consumer discretionary 0.14%** |  |  |
| Volkswagen AG, nonvoting preferred shares | 3468 | **432** |
| **Information technology 0.09%** |  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares | 6483 | **261** |
| **Total preferred securities** (cost: $2,271,000) |  | **1900** |
| **Short-term securities 2.11%** |  |  |
| **Money market investments 1.82%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>5,6</sup> | 54926 | **5492** |

---

American Funds Insurance Series 107

International Growth and Income Fund (continued)

---

| | | |
|:---|:---|:---|
| **Short-term securities** (continued) | Shares | Value<br> (000) |
| **Money market investments purchased with collateral from securities on loan 0.29%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>5,7</sup> | 851683 | $852 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>5,7</sup> | 14166 | 14 |
|  |  | **866** |
| **Total short-term securities** (cost: $6,355,000) |  | **6358** |
| **Total investment securities 99.49%** (cost: $296,353,000) |  | **299454** |
| Other assets less liabilities 0.51% |  | 1543 |
| **Net assets 100.00%** |  | $**300997** |

---

**Forward currency contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation**<br>**at 12/31/2022<br> (000)** |
| USD | 612 | GBP | 502 | UBS AG | 1/12/2023 | $5 |

---

**Investments in affiliates<sup>6</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliate at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliate at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 1.82%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 1.82%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>5</sup> | $21699 | $75477 | $91678 | $(4) | $(2) | $5492 | $302 |

---

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> Value determined using significant unobservable inputs.

<sup>3</sup> Amount less than one thousand.

<sup>4</sup> All or a portion of this security was on loan. The total value of all such securities was $1,435,000, which represented .48% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>5</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>6</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>7</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

**Key to abbreviations**

ADR = American Depositary Receipts

CAD = Canadian dollars

GBP = British pounds

REIT = Real Estate Investment Trust

USD = U.S. dollars

Refer to the notes to financial statements.

108 American Funds Insurance Series

Capital Income Builder

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 74.46%** | Shares | Value<br> (000) |
| **Financials 13.77%** |  |  |
| Zurich Insurance Group AG | 39942 | $19087 |
| Toronto-Dominion Bank (CAD denominated) | 162719 | 10536 |
| JPMorgan Chase & Co. | 68717 | 9215 |
| PNC Financial Services Group, Inc. | 49137 | 7761 |
| Münchener Rückversicherungs-Gesellschaft AG | 23791 | 7736 |
| CME Group, Inc., Class A | 45573 | 7664 |
| DBS Group Holdings, Ltd. | 300006 | 7595 |
| Morgan Stanley | 88772 | 7547 |
| DNB Bank ASA | 301733 | 5974 |
| Power Corporation of Canada, subordinate voting shares | 201698 | 4745 |
| BlackRock, Inc. | 6520 | 4620 |
| B3 SA-Brasil, Bolsa, Balcao | 1360408 | 3404 |
| Tryg A/S | 138292 | 3280 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 447500 | 2954 |
| Ping An Insurance (Group) Company of China, Ltd., Class A | 34457 | 233 |
| Webster Financial Corp. | 61978 | 2934 |
| AIA Group, Ltd. | 253600 | 2794 |
| American International Group, Inc. | 43993 | 2782 |
| Principal Financial Group, Inc. | 31762 | 2665 |
| Blackstone, Inc., nonvoting shares | 33399 | 2478 |
| KBC Groep NV | 33615 | 2158 |
| United Overseas Bank, Ltd. | 89200 | 2046 |
| State Street Corp. | 26015 | 2018 |
| Kaspi.kz JSC<sup>1</sup> | 21756 | 1555 |
| Kaspi.kz JSC (GDR) | 5969 | 426 |
| East West Bancorp, Inc. | 29501 | 1944 |
| ING Groep NV | 157320 | 1919 |
| Wells Fargo & Company | 45898 | 1895 |
| China Pacific Insurance (Group) Co., Ltd., Class H | 794150 | 1754 |
| National Bank of Canada | 24069 | 1622 |
| Travelers Companies, Inc. | 8641 | 1620 |
| Swedbank AB, Class A | 88691 | 1507 |
| Citizens Financial Group, Inc. | 36461 | 1436 |
| KeyCorp | 75308 | 1312 |
| China Merchants Bank Co., Ltd., Class A | 131100 | 703 |
| China Merchants Bank Co., Ltd., Class H | 94500 | 524 |
| IIFL Wealth Management, Ltd. | 55104 | 1183 |
| Franklin Resources, Inc. | 42738 | 1127 |
| OneMain Holdings, Inc. | 33517 | 1116 |
| EFG International AG | 113913 | 1086 |
| BNP Paribas SA | 17927 | 1020 |
| Great-West Lifeco, Inc. | 43284 | 1001 |
| Truist Financial Corp. | 23131 | 995 |
| Corebridge Financial, Inc. | 44617 | 895 |
| Hang Seng Bank, Ltd. | 52200 | 864 |
| Euronext NV | 11304 | 838 |
| Hong Kong Exchanges and Clearing, Ltd. | 18300 | 791 |
| Bank Central Asia Tbk PT | 1423700 | 781 |
| TPG, Inc., Class A | 26918 | 749 |
| Citigroup, Inc. | 16200 | 733 |
| Patria Investments, Ltd., Class A | 47813 | 666 |
| Banco Santander, SA | 201758 | 604 |
| Vontobel Holding AG | 7885 | 524 |
| Macquarie Group, Ltd. | 4045 | 459 |
| Hana Financial Group, Inc. | 10680 | 357 |
| Cullen/Frost Bankers, Inc. | 1968 | 263 |
| UniCredit SpA | 12643 | 180 |
| SouthState Corp. | 2204 | 168 |
| Moscow Exchange MICEX-RTS PJSC<sup>2,3</sup> | 875002 | —<sup>4</sup> |
| Sberbank of Russia PJSC<sup>2,3</sup> | 204176 | —<sup>4</sup> |
|  |  | **156843** |

---

American Funds Insurance Series 109

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Consumer staples 10.07%** |  |  |
| Philip Morris International, Inc. | 259908 | $26305 |
| British American Tobacco PLC | 471482 | 18706 |
| General Mills, Inc. | 102770 | 8617 |
| Altria Group, Inc. | 188250 | 8605 |
| PepsiCo, Inc. | 47154 | 8519 |
| Nestlé SA | 70531 | 8145 |
| Kimberly-Clark Corp. | 39311 | 5337 |
| Imperial Brands PLC | 207379 | 5181 |
| ITC, Ltd. | 1060348 | 4250 |
| Unilever PLC (GBP denominated) | 57668 | 2909 |
| Carlsberg A/S, Class B | 19656 | 2602 |
| Keurig Dr Pepper, Inc. | 72760 | 2595 |
| Danone SA | 48454 | 2553 |
| Anheuser-Busch InBev SA/NV | 37592 | 2260 |
| Kraft Heinz Company | 32392 | 1319 |
| Seven & i Holdings Co., Ltd. | 29600 | 1266 |
| Procter & Gamble Company | 7687 | 1165 |
| Mondelez International, Inc. | 14725 | 981 |
| Vector Group, Ltd. | 69487 | 824 |
| Essity Aktiebolag, Class B | 23218 | 610 |
| Viscofan, SA, non-registered shares | 9124 | 589 |
| Reckitt Benckiser Group PLC | 7982 | 555 |
| Scandinavian Tobacco Group A/S | 21667 | 380 |
| Kimberly-Clark de México, SAB de CV, Class A, ordinary participation certificates | 136106 | 231 |
| Coca-Cola HBC AG (CDI) | 7021 | 168 |
|  |  | **114672** |
| **Health care 9.47%** |  |  |
| AbbVie, Inc. | 173251 | 27999 |
| Amgen, Inc. | 53879 | 14151 |
| Gilead Sciences, Inc. | 153232 | 13155 |
| AstraZeneca PLC | 60447 | 8204 |
| Abbott Laboratories | 66565 | 7308 |
| Medtronic PLC | 82068 | 6378 |
| Novartis AG | 65737 | 5955 |
| Bristol-Myers Squibb Company | 74164 | 5336 |
| Pfizer, Inc. | 89394 | 4581 |
| UnitedHealth Group, Inc. | 6954 | 3687 |
| Roche Holding AG, nonvoting non-registered shares | 10419 | 3274 |
| Takeda Pharmaceutical Company, Ltd. | 87100 | 2720 |
| Royalty Pharma PLC, Class A | 42309 | 1672 |
| Merck & Co., Inc. | 7825 | 868 |
| EBOS Group, Ltd. | 30676 | 850 |
| CVS Health Corp. | 7431 | 692 |
| Bayer AG | 12641 | 653 |
| GSK PLC | 17925 | 312 |
| Koninklijke Philips NV (EUR denominated) | 4898 | 74 |
| Organon & Co. | 662 | 18 |
|  |  | **107887** |
| **Industrials 7.34%** |  |  |
| Raytheon Technologies Corp. | 239595 | 24180 |
| Lockheed Martin Corp. | 11445 | 5568 |
| BAE Systems PLC | 526461 | 5441 |
| Honeywell International, Inc. | 24790 | 5312 |
| Siemens AG | 36680 | 5091 |
| RELX PLC | 131761 | 3650 |
| RELX PLC (ADR) | 8177 | 227 |
| Kone OYJ, Class B | 71780 | 3718 |
| L3Harris Technologies, Inc. | 16708 | 3479 |
| Deutsche Post AG | 64678 | 2435 |
| VINCI SA | 24215 | 2418 |

---

110 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Industrials (continued)** |  |  |
| Singapore Technologies Engineering, Ltd. | 898600 | $2249 |
| Trinity Industries, Inc. | 72684 | 2149 |
| BOC Aviation, Ltd. | 194500 | 1617 |
| Illinois Tool Works, Inc. | 7243 | 1596 |
| ITOCHU Corp. | 44400 | 1388 |
| SGS SA | 589 | 1364 |
| Compañia de Distribución Integral Logista Holdings, SA, non-registered shares | 45292 | 1144 |
| Trelleborg AB, Class B | 47577 | 1101 |
| Grupo Aeroportuario del Pacífico, SAB de CV, Class B | 74506 | 1067 |
| AB Volvo, Class B | 58146 | 1053 |
| Norfolk Southern Corp. | 3965 | 977 |
| LIXIL Corp. | 54600 | 832 |
| Ventia Services Group Pty, Ltd. | 490862 | 796 |
| United Parcel Service, Inc., Class B | 4455 | 774 |
| Union Pacific Corp. | 3606 | 747 |
| Marubeni Corp. | 56900 | 650 |
| General Dynamics Corp. | 2526 | 627 |
| Waste Management, Inc. | 3955 | 620 |
| Carrier Global Corp. | 13015 | 537 |
| Airbus SE, non-registered shares | 3671 | 436 |
| Sulzer AG | 4695 | 367 |
|  |  | **83610** |
| **Information technology 6.92%** |  |  |
| Broadcom, Inc. | 65566 | 36661 |
| Microsoft Corp. | 63062 | 15124 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 583800 | 8509 |
| Paychex, Inc. | 17290 | 1998 |
| Texas Instruments, Inc. | 11533 | 1905 |
| KLA Corp. | 4878 | 1839 |
| Vanguard International Semiconductor Corp. | 618700 | 1558 |
| Automatic Data Processing, Inc. | 6477 | 1547 |
| QUALCOMM, Inc. | 11372 | 1250 |
| Western Union Company | 83565 | 1151 |
| Tokyo Electron, Ltd. | 3500 | 1040 |
| SAP SE | 10071 | 1039 |
| Analog Devices, Inc. | 5930 | 973 |
| NetApp, Inc. | 14882 | 894 |
| GlobalWafers Co., Ltd. | 46938 | 652 |
| Fidelity National Information Services, Inc. | 9497 | 644 |
| Intel Corp. | 18944 | 501 |
| MediaTek, Inc. | 24000 | 487 |
| Tripod Technology Corp. | 152000 | 465 |
| SINBON Electronics Co., Ltd. | 42446 | 380 |
| BE Semiconductor Industries NV | 3388 | 206 |
|  |  | **78823** |
| **Utilities 6.24%** |  |  |
| Dominion Energy, Inc. | 102936 | 6312 |
| Iberdrola, SA, non-registered shares | 496459 | 5807 |
| DTE Energy Company | 49064 | 5766 |
| National Grid PLC | 476775 | 5727 |
| Engie SA | 335814 | 4810 |
| Engie SA, bonus shares | 36900 | 529 |
| Power Grid Corporation of India, Ltd. | 2007912 | 5169 |
| E.ON SE | 486449 | 4855 |
| The Southern Co. | 62100 | 4434 |
| Edison International | 60608 | 3856 |
| Duke Energy Corp. | 32752 | 3373 |
| AES Corp. | 108568 | 3122 |
| Entergy Corp. | 26522 | 2984 |
| Exelon Corp. | 49566 | 2143 |

---

American Funds Insurance Series 111

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Utilities (continued)** |  |  |
| Public Service Enterprise Group, Inc. | 28665 | $1756 |
| SSE PLC | 77332 | 1595 |
| CenterPoint Energy, Inc. | 51179 | 1535 |
| Sempra Energy | 9762 | 1509 |
| ENN Energy Holdings, Ltd. | 93600 | 1306 |
| Enel SpA | 240213 | 1292 |
| NextEra Energy, Inc. | 13466 | 1126 |
| Evergy, Inc. | 15369 | 967 |
| Power Assets Holdings, Ltd. | 106500 | 583 |
| CMS Energy Corp. | 3992 | 253 |
| American Electric Power Company, Inc. | 1512 | 144 |
| SembCorp Industries, Ltd. | 44800 | 113 |
|  |  | **71066** |
| **Energy 6.00%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)<sup>5</sup> | 195057 | 10832 |
| Chevron Corp. | 47686 | 8559 |
| TC Energy Corp. (CAD denominated) | 181889 | 7252 |
| TC Energy Corp. | 16085 | 641 |
| Exxon Mobil Corp. | 69719 | 7690 |
| TotalEnergies SE | 90216 | 5631 |
| BP PLC | 806006 | 4687 |
| EOG Resources, Inc. | 34736 | 4499 |
| Shell PLC (GBP denominated) | 115306 | 3277 |
| Shell PLC (ADR) | 8467 | 482 |
| Woodside Energy Group, Ltd. | 86228 | 2086 |
| Woodside Energy Group, Ltd. (CDI) | 23081 | 557 |
| ConocoPhillips | 20510 | 2420 |
| Pioneer Natural Resources Company | 10296 | 2352 |
| Schlumberger, Ltd. | 36843 | 1970 |
| Enbridge, Inc. (CAD denominated) | 40329 | 1576 |
| Baker Hughes Co., Class A | 52596 | 1553 |
| Equitrans Midstream Corp. | 213059 | 1427 |
| DT Midstream, Inc. | 13716 | 758 |
| Galp Energia, SGPS, SA, Class B | 11022 | 149 |
| Gazprom PJSC<sup>2</sup> | 880428 | —<sup>4</sup> |
|  |  | **68398** |
| **Real estate 5.99%** |  |  |
| VICI Properties, Inc. REIT | 586804 | 19012 |
| Crown Castle, Inc. REIT | 113151 | 15348 |
| Equinix, Inc. REIT | 10699 | 7008 |
| Gaming and Leisure Properties, Inc. REIT | 93929 | 4893 |
| Federal Realty Investment Trust REIT | 28164 | 2846 |
| Link REIT | 372507 | 2735 |
| American Tower Corp. REIT | 9879 | 2093 |
| CK Asset Holdings, Ltd. | 318000 | 1958 |
| Boston Properties, Inc. REIT | 22486 | 1520 |
| Charter Hall Group REIT | 146326 | 1192 |
| Longfor Group Holdings, Ltd. | 353000 | 1082 |
| POWERGRID Infrastructure Investment Trust | 681036 | 1047 |
| Embassy Office Parks REIT | 245585 | 996 |
| Mindspace Business Parks REIT | 214689 | 868 |
| Extra Space Storage, Inc. REIT | 5810 | 855 |
| Americold Realty Trust, Inc. REIT | 30182 | 854 |
| Sun Hung Kai Properties, Ltd. | 61255 | 838 |
| CTP NV | 68103 | 802 |
| Digital Realty Trust, Inc. REIT | 6950 | 697 |

---

112 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Real estate (continued)** |  |  |
| Kimco Realty Corp. REIT | 31388 | $665 |
| Prologis, Inc. REIT | 4763 | 537 |
| CubeSmart REIT | 8847 | 356 |
|  |  | **68202** |
| **Materials 2.91%** |  |  |
| Vale SA (ADR), ordinary nominative shares | 349433 | 5930 |
| Vale SA, ordinary nominative shares | 225247 | 3792 |
| Rio Tinto PLC | 79626 | 5587 |
| Air Products and Chemicals, Inc. | 9631 | 2969 |
| Linde PLC | 8936 | 2915 |
| BHP Group, Ltd. (CDI) | 82385 | 2540 |
| International Flavors & Fragrances, Inc. | 21588 | 2263 |
| LyondellBasell Industries NV | 18557 | 1541 |
| Evonik Industries AG | 54480 | 1046 |
| Sociedad Química y Minera de Chile SA, Class B (ADR) | 12475 | 996 |
| BASF SE | 16131 | 801 |
| UPM-Kymmene OYJ | 19684 | 738 |
| Asahi Kasei Corp. | 96900 | 688 |
| Fortescue Metals Group, Ltd. | 28457 | 397 |
| Nexa Resources SA<sup>5</sup> | 51286 | 309 |
| WestRock Co. | 7448 | 262 |
| Shin-Etsu Chemical Co., Ltd. | 1900 | 231 |
| Smurfit Kappa Group PLC | 4754 | 176 |
|  |  | **33181** |
| **Consumer discretionary 2.90%** |  |  |
| Starbucks Corp. | 41213 | 4088 |
| Home Depot, Inc. | 12852 | 4059 |
| Industria de Diseño Textil, SA | 149994 | 3994 |
| Midea Group Co., Ltd., Class A | 513775 | 3816 |
| McDonald's Corp. | 11404 | 3005 |
| Kering SA | 5640 | 2887 |
| Restaurant Brands International, Inc. | 38245 | 2473 |
| LVMH Moët Hennessy-Louis Vuitton SE | 2860 | 2078 |
| YUM! Brands, Inc. | 10281 | 1317 |
| Galaxy Entertainment Group, Ltd. | 196000 | 1298 |
| Cie. Financière Richemont SA, Class A | 7967 | 1031 |
| Darden Restaurants, Inc. | 7101 | 982 |
| Mercedes-Benz Group AG | 8466 | 556 |
| OPAP SA | 27844 | 395 |
| Pearson PLC | 26653 | 302 |
| Inchcape PLC | 26460 | 261 |
| Kindred Group PLC (SDR) | 24452 | 255 |
| VF Corp. | 4833 | 134 |
| Thule Group AB | 4224 | 88 |
|  |  | **33019** |
| **Communication services 2.85%** |  |  |
| Comcast Corp., Class A | 222680 | 7787 |
| Verizon Communications, Inc. | 113150 | 4458 |
| SoftBank Corp. | 380300 | 4300 |
| Singapore Telecommunications, Ltd. | 1528600 | 2935 |
| Koninklijke KPN NV | 918661 | 2842 |
| BCE, Inc. | 54651 | 2401 |
| Nippon Telegraph and Telephone Corp. | 75100 | 2143 |
| HKT Trust and HKT, Ltd., units | 1127240 | 1378 |
| Warner Music Group Corp., Class A | 33470 | 1172 |
| Omnicom Group, Inc. | 10871 | 887 |
| WPP PLC | 81366 | 808 |

---

American Funds Insurance Series 113

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Common stocks** (continued) | Shares | Shares | Value<br> (000) |
| **Communication services (continued)** |  |  |  |
| Indus Towers, Ltd. |  | 211665 | $486 |
| América Móvil, SAB de CV, Series L (ADR) |  | 24725 | 450 |
| ProSiebenSat.1 Media SE |  | 40927 | 366 |
|  |  |  | **32413** |
| **Total common stocks** (cost: $704,847,000) |  |  | **848114** |
| **Preferred securities 0.05%** |  |  |  |
| **Information technology 0.05%** |  |  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares |  | **13546** | **545** |
| **Total preferred securities** (cost: $456,000) |  |  | **545** |
| **Rights & warrants 0.00%** |  |  |  |
| **Consumer discretionary 0.00%** |  |  |  |
| Compagnie Financière Richemont SA, Class A, warrants, expire 11/22/2023<sup>3</sup> |  | **7130** | **6** |
| **Total rights & warrants** (cost: $0) |  |  | **6** |
| **Convertible stocks 0.44%** |  |  |  |
| **Utilities 0.28%** |  |  |  |
| NextEra Energy, Inc., noncumulative convertible preferred units, 6.926% 9/1/2025 |  | 35900 | 1802 |
| AES Corp., convertible preferred units, 6.875% 2/15/2024 |  | 8659 | 883 |
| American Electric Power Company, Inc., convertible preferred units, 6.125% 8/15/2023 |  | 9704 | 501 |
|  |  |  | **3186** |
| **Health care 0.10%** |  |  |  |
| Danaher Corp., Series B, cumulative convertible preferred shares, 5.00% 4/15/2023<sup>5</sup> |  | **841** | **1141** |
| **Consumer discretionary 0.06%** |  |  |  |
| Aptiv PLC, Series A, convertible preferred shares, 5.50% 6/15/2023 |  | **6448** | **692** |
| **Total convertible stocks** (cost: $4,623,000) |  |  | **5019** |
| **Investment funds 2.46%** |  |  |  |
| Capital Group Central Corporate Bond Fund<sup>6</sup> |  | **3442868** | **28059** |
| **Total investment funds** (cost: $33,742,000) |  |  | **28059** |
| **Bonds, notes & other debt instruments 18.22%** |  | Principal amount<br> (000) |  |
| **U.S. Treasury bonds & notes 9.44%** |  |  |  |
| **U.S. Treasury 7.06%** |  |  |  |
| U.S. Treasury 0.125% 1/31/2023 | USD | 2200 | 2193 |
| U.S. Treasury 0.375% 10/31/2023 |  | 875 | 844 |
| U.S. Treasury 0.125% 12/15/2023 |  | 8410 | 8057 |
| U.S. Treasury 2.50% 4/30/2024 |  | 2224 | 2161 |
| U.S. Treasury 3.25% 8/31/2024 |  | 554 | 542 |
| U.S. Treasury 0.625% 10/15/2024 |  | 11050 | 10322 |
| U.S. Treasury 0.75% 11/15/2024 |  | 3525 | 3291 |
| U.S. Treasury 4.50% 11/30/2024 |  | 3677 | 3678 |
| U.S. Treasury 4.00% 12/15/2025 |  | 4257 | 4230 |
| U.S. Treasury 0.75% 3/31/2026 |  | 1 | 1 |
| U.S. Treasury 0.75% 4/30/2026 |  | 1093 | 977 |
| U.S. Treasury 0.75% 5/31/2026 |  | 3850 | 3435 |

---

114 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury (continued)** |  |  |  |
| U.S. Treasury 1.875% 6/30/2026 | USD | 6300 | $5845 |
| U.S. Treasury 1.125% 10/31/2026 |  | 995 | 890 |
| U.S. Treasury 2.00% 11/15/2026<sup>7</sup> |  | 2800 | 2589 |
| U.S. Treasury 0.50% 4/30/2027 |  | 2900 | 2498 |
| U.S. Treasury 6.125% 11/15/2027 |  | 950 | 1037 |
| U.S. Treasury 3.875% 11/30/2027 |  | 15438 | 15354 |
| U.S. Treasury 1.25% 3/31/2028 |  | 1350 | 1174 |
| U.S. Treasury 3.875% 11/30/2029 |  | 1360 | 1351 |
| U.S. Treasury 6.25% 5/15/2030 |  | 890 | 1016 |
| U.S. Treasury 4.125% 11/15/2032 |  | 1610 | 1642 |
| U.S. Treasury 1.125% 5/15/2040<sup>7</sup> |  | 2400 | 1506 |
| U.S. Treasury 2.00% 11/15/2041 |  | 300 | 215 |
| U.S. Treasury 4.00% 11/15/2042 |  | 806 | 790 |
| U.S. Treasury 2.375% 5/15/2051 |  | 197 | 142 |
| U.S. Treasury 3.00% 8/15/2052<sup>7</sup> |  | 5411 | 4486 |
| U.S. Treasury 4.00% 11/15/2052 |  | 115 | 116 |
|  |  |  | **80382** |
| **U.S. Treasury inflation-protected securities 2.38%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2023<sup>8</sup> |  | 2610 | 2605 |
| U.S. Treasury Inflation-Protected Security 0.625% 4/15/2023<sup>8</sup> |  | 3400 | 3367 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2023<sup>8</sup> |  | 1818 | 1797 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2024<sup>8</sup> |  | 1220 | 1195 |
| U.S. Treasury Inflation-Protected Security 0.50% 4/15/2024<sup>8</sup> |  | 1581 | 1539 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>8</sup> |  | 1887 | 1828 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>8</sup> |  | 2752 | 2652 |
| U.S. Treasury Inflation-Protected Security 0.25% 1/15/2025<sup>8</sup> |  | 539 | 518 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2025<sup>8</sup> |  | 1269 | 1210 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025<sup>8</sup> |  | 377 | 362 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025<sup>8</sup> |  | 230 | 218 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2026<sup>8</sup> |  | 2388 | 2245 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2027<sup>8</sup> |  | 2253 | 2250 |
| U.S. Treasury Inflation-Protected Security 0.50% 1/15/2028<sup>8</sup> |  | 242 | 227 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2030<sup>8</sup> |  | 2143 | 1925 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031<sup>8</sup> |  | 1831 | 1625 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2031<sup>8</sup> |  | 139 | 123 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049<sup>8</sup> |  | 201 | 169 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051<sup>7,8</sup> |  | 2031 | 1311 |
|  |  |  | **27166** |
| **Total U.S. Treasury bonds & notes** |  |  | **107548** |
| **Mortgage-backed obligations 6.13%** |  |  |  |
| **Federal agency mortgage-backed obligations 5.40%** |  |  |  |
| Fannie Mae Pool #695412 5.00% 6/1/2033<sup>9</sup> |  | —<sup>4</sup> | —<sup>4</sup> |
| Fannie Mae Pool #AD3566 5.00% 10/1/2035<sup>9</sup> |  | 2 | 2 |
| Fannie Mae Pool #931768 5.00% 8/1/2039<sup>9</sup> |  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039<sup>9</sup> |  | 5 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040<sup>9</sup> |  | 2 | 2 |
| Fannie Mae Pool #AE0311 3.50% 8/1/2040<sup>9</sup> |  | 9 | 8 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041<sup>9</sup> |  | 8 | 8 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041<sup>9</sup> |  | 7 | 6 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041<sup>9</sup> |  | 7 | 7 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041<sup>9</sup> |  | 5 | 5 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041<sup>9</sup> |  | 2 | 2 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042<sup>9</sup> |  | 4 | 4 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043<sup>9</sup> |  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043<sup>9</sup> |  | 2 | 2 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044<sup>9</sup> |  | 2 | 2 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045<sup>9</sup> |  | 150 | 138 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047<sup>9</sup> |  | 1 | 1 |

---

American Funds Insurance Series 115

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047<sup>9</sup> | USD | 39 | $37 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048<sup>9</sup> |  | 20 | 19 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048<sup>9</sup> |  | 27 | 25 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048<sup>9</sup> |  | 8 | 8 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048<sup>9</sup> |  | 5 | 5 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049<sup>9</sup> |  | 38 | 35 |
| Fannie Mae Pool #CA5540 3.00% 4/1/2050<sup>9</sup> |  | 3219 | 2861 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050<sup>9</sup> |  | 376 | 337 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051<sup>9</sup> |  | 23 | 21 |
| Fannie Mae Pool #BV0790 3.50% 1/1/2052<sup>9</sup> |  | 97 | 88 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052<sup>9</sup> |  | 1017 | 907 |
| Fannie Mae Pool #CB3236 3.00% 3/1/2052<sup>9</sup> |  | 424 | 373 |
| Fannie Mae Pool #FS3275 3.00% 4/1/2052<sup>9</sup> |  | 787 | 691 |
| Fannie Mae Pool #MA4600 3.50% 5/1/2052<sup>9</sup> |  | 1452 | 1321 |
| Fannie Mae Pool #BT8370 3.50% 6/1/2052<sup>9</sup> |  | 291 | 265 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052<sup>9</sup> |  | 353 | 332 |
| Fannie Mae Pool #MA4782 3.50% 10/1/2052<sup>9</sup> |  | 880 | 800 |
| Fannie Mae Pool #MA4877 6.50% 12/1/2052<sup>9</sup> |  | 103 | 106 |
| Fannie Mae Pool #MA4902 3.50% 1/1/2053<sup>9</sup> |  | 53 | 48 |
| Fannie Mae Pool #MA4866 4.00% 1/1/2053<sup>9</sup> |  | 828 | 777 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>9</sup> |  | 30 | 30 |
| Fannie Mae Pool #MA4895 6.50% 1/1/2053<sup>9</sup> |  | 118 | 121 |
| Fannie Mae Pool #BF0142 5.50% 8/1/2056<sup>9</sup> |  | 391 | 404 |
| Fannie Mae Pool #BF0342 5.50% 1/1/2059<sup>9</sup> |  | 266 | 272 |
| Fannie Mae Pool #BM6737 4.50% 11/1/2059<sup>9</sup> |  | 704 | 691 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060<sup>9</sup> |  | 458 | 401 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043<sup>9</sup> |  | 1 | 1 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048<sup>9</sup> |  | 234 | 225 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048<sup>9</sup> |  | 20 | 19 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048<sup>9</sup> |  | 19 | 18 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048<sup>9</sup> |  | 10 | 9 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048<sup>9</sup> |  | 28 | 27 |
| Freddie Mac Pool #Q57242 4.50% 7/1/2048<sup>9</sup> |  | 13 | 13 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048<sup>9</sup> |  | 51 | 51 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048<sup>9</sup> |  | 28 | 27 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048<sup>9</sup> |  | 20 | 20 |
| Freddie Mac Pool #ZT1704 4.50% 1/1/2049<sup>9</sup> |  | 1234 | 1218 |
| Freddie Mac Pool #QD2877 3.00% 12/1/2051<sup>9</sup> |  | 130 | 114 |
| Freddie Mac Pool #SD1374 3.00% 3/1/2052<sup>9</sup> |  | 430 | 378 |
| Freddie Mac Pool #SD1937 3.00% 3/1/2052<sup>9</sup> |  | 243 | 214 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052<sup>9</sup> |  | 340 | 319 |
| Freddie Mac Pool #RA7556 4.50% 6/1/2052<sup>9</sup> |  | 936 | 903 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052<sup>9</sup> |  | 605 | 531 |
| Freddie Mac Pool #SD1584 4.50% 9/1/2052<sup>9</sup> |  | 206 | 202 |
| Freddie Mac Pool #QF1730 4.00% 10/1/2052<sup>9</sup> |  | 838 | 787 |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052<sup>9</sup> |  | 100 | 94 |
| Freddie Mac Pool #SD8264 3.50% 11/1/2052<sup>9</sup> |  | 200 | 182 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>9</sup> |  | 1959 | 1887 |
| Freddie Mac Pool #SD8281 6.50% 12/1/2052<sup>9</sup> |  | 406 | 416 |
| Freddie Mac Pool #SD8285 3.50% 1/1/2053<sup>9</sup> |  | 14 | 13 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053<sup>9</sup> |  | 200 | 188 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>9</sup> |  | 35 | 35 |
| Freddie Mac Pool #SD8282 6.50% 1/1/2053<sup>9</sup> |  | 457 | 468 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056<sup>9,10</sup> |  | 115 | 108 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056<sup>9</sup> |  | 235 | 219 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056<sup>9,10</sup> |  | 233 | 218 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057<sup>9,10</sup> |  | 97 | 88 |

---

116 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | |
|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057<sup>9</sup> | USD80 | $73 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057<sup>9</sup> | 20 | 19 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/2058<sup>9</sup> | 1001 | 905 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058<sup>9</sup> | 408 | 386 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058<sup>9</sup> | 629 | 594 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 10/25/2058<sup>9</sup> | 18 | 17 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058<sup>9</sup> | 10 | 9 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028<sup>9</sup> | 922 | 881 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 9/25/2029<sup>9</sup> | 1293 | 1191 |
| Government National Mortgage Assn. 4.00% 1/1/2053<sup>9,11</sup> | 3400 | 3218 |
| Government National Mortgage Assn. 4.50% 1/1/2053<sup>9,11</sup> | 60 | 58 |
| Government National Mortgage Assn. 5.00% 2/1/2053<sup>9,11</sup> | 8731 | 8652 |
| Government National Mortgage Assn. 5.50% 2/1/2053<sup>9,11</sup> | 1017 | 1022 |
| Government National Mortgage Assn. Pool #MA5764 4.50% 2/20/2049<sup>9</sup> | 454 | 441 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052<sup>9</sup> | 2927 | 2773 |
| Government National Mortgage Assn. Pool #MA8427 4.50% 11/20/2052<sup>9</sup> | 1054 | 1024 |
| Government National Mortgage Assn. Pool #MA8488 4.00% 12/20/2052<sup>9</sup> | 54 | 52 |
| Government National Mortgage Assn. Pool #MA8489 4.50% 12/20/2052<sup>9</sup> | 300 | 291 |
| Government National Mortgage Assn. Pool #694836 5.682% 9/20/2059<sup>9</sup> | —<sup>4</sup> | —<sup>4</sup> |
| Government National Mortgage Assn. Pool #765152 4.14% 7/20/2061<sup>9</sup> | —<sup>4</sup> | —<sup>4</sup> |
| Government National Mortgage Assn. Pool #766525 4.70% 11/20/2062<sup>9</sup> | —<sup>4</sup> | —<sup>4</sup> |
| Government National Mortgage Assn. Pool #AA7554 6.64% 7/20/2064<sup>9</sup> | 1 | 1 |
| Government National Mortgage Assn. Pool #725893 5.20% 9/20/2064<sup>9</sup> | —<sup>4</sup> | —<sup>4</sup> |
| Uniform Mortgage-Backed Security 2.50% 1/1/2038<sup>9,11</sup> | 1708 | 1563 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2053<sup>9,11</sup> | 60 | 49 |
| Uniform Mortgage-Backed Security 2.50% 1/1/2053<sup>9,11</sup> | 140 | 119 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2053<sup>9,11</sup> | 340 | 319 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2053<sup>9,11</sup> | 340 | 327 |
| Uniform Mortgage-Backed Security 5.00% 1/1/2053<sup>9,11</sup> | 1250 | 1232 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>9,11</sup> | 13500 | 13538 |
| Uniform Mortgage-Backed Security 6.50% 1/1/2053<sup>9,11</sup> | 1836 | 1880 |
| Uniform Mortgage-Backed Security 4.00% 2/1/2053<sup>9,11</sup> | 172 | 161 |
| Uniform Mortgage-Backed Security 5.50% 2/1/2053<sup>9,11</sup> | 80 | 80 |
| Uniform Mortgage-Backed Security 6.00% 2/1/2053<sup>9,11</sup> | 470 | 477 |
|  |  | **61513** |
| **Collateralized mortgage-backed obligations (privately originated) 0.42%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048<sup>1,9,10</sup> | 141 | 112 |
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/2061<sup>1,9,10</sup> | 84 | 75 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061<sup>1,9</sup> | 90 | 78 |
| Cascade Funding Mortgage Trust, Series 2020-HB4, Class A, 0.946% 12/26/2030<sup>1,9,10</sup> | 71 | 69 |
| Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/2031<sup>1,9,10</sup> | 136 | 129 |
| Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 6/25/2036<sup>1,9,10</sup> | 104 | 99 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061<sup>1,9,10</sup> | 185 | 175 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060<sup>1,9,10</sup> | 10 | 10 |
| Connecticut Avenue Securities Trust, Series 2021-R01, Class 1M1, (30-day Average USD-SOFR + 0.75%) 4.678% 10/25/2041<sup>1,9,10</sup> | 4 | 4 |
| Finance of America Structured Securities Trust, Series 2019-JR3, Class A, 2.00% 9/25/2069<sup>1,9</sup> | 59 | 61 |
| Finance of America Structured Securities Trust, Series 2019-JR4, Class A, 2.00% 11/25/2069<sup>1,9</sup> | 67 | 66 |

---

American Funds Insurance Series 117

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |  |
| Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 10/25/2051<sup>1,9,10</sup> | USD | 117 | $95 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class M3, (1-month USD-LIBOR + 4.70%) 9.089% 4/25/2028<sup>9,10</sup> |  | 252 | 261 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1A, (30-day Average USD-SOFR + 2.00%) 5.928% 4/25/2042<sup>1,9,10</sup> |  | 109 | 109 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1A, (30-day Average USD-SOFR + 2.20%) 6.128% 5/25/2042<sup>1,9,10</sup> |  | 19 | 19 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average USD-SOFR + 2.15%) 6.078% 9/25/2042<sup>1,9,10</sup> |  | 34 | 34 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average USD-SOFR + 3.70%) 7.628% 9/25/2042<sup>1,9,10</sup> |  | 64 | 65 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class M2, (1-month USD-LIBOR + 1.70%) 6.089% 1/25/2050<sup>1,9,10</sup> |  | 188 | 187 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class M2, (1-month USD-LIBOR + 1.85%) 6.239% 2/25/2050<sup>1,9,10</sup> |  | 408 | 407 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B1, (1-month USD-LIBOR + 5.10%) 9.489% 6/27/2050<sup>1,9,10</sup> |  | 108 | 112 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B1, (1-month USD-LIBOR + 6.00%) 10.389% 8/25/2050<sup>1,9,10</sup> |  | 540 | 575 |
| Home Partners of America Trust, Series 2022-1, Class A, 3.93% 4/17/2039<sup>1,9</sup> |  | 196 | 184 |
| Legacy Mortgage Asset Trust, Series 2022-GS1, Class A1, 4.00% 2/25/2061 (7.00% on 4/25/2025)<sup>1,9,12</sup> |  | 200 | 185 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 4/25/2061<sup>1,9,10</sup> |  | 78 | 71 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (5.25% on 11/25/2024)<sup>1,9,12</sup> |  | 132 | 119 |
| Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 5.239% 11/25/2055<sup>1,9,10</sup> |  | 202 | 195 |
| NewRez Warehouse Securitization Trust, Series 2021-1, Class A, (1-month USD-LIBOR + 0.75%) 5.139% 5/25/2055<sup>1,9,10</sup> |  | 281 | 277 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039<sup>1,9</sup> |  | 100 | 91 |
| Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/2031<sup>1,9,10</sup> |  | 66 | 62 |
| Towd Point Mortgage Trust, Series 2016-5, Class A1, 2.50% 10/25/2056<sup>1,9,10</sup> |  | 20 | 19 |
| Towd Point Mortgage Trust, Series 2017-3, Class A1, 2.75% 7/25/2057<sup>1,9,10</sup> |  | 20 | 19 |
| Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 10/25/2057<sup>1,9,10</sup> |  | 40 | 39 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/2058<sup>1,9,10</sup> |  | 49 | 47 |
| Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 7/25/2058<sup>1,9,10</sup> |  | 24 | 23 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060<sup>1,9</sup> |  | 472 | 420 |
| Treehouse Park Improvement Association No.1 - Anleihen 9.75% 12/1/2033<sup>1,2</sup> |  | 100 | 89 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038<sup>1,9</sup> |  | 196 | 170 |
|  |  |  | **4752** |
| **Commercial mortgage-backed securities 0.31%** |  |  |  |
| BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class A, (1-month USD CME Term SOFR + 1.77%) 6.105% 5/15/2039<sup>1,9,10</sup> |  | 110 | 108 |
| BPR Trust, Series 2022-OANA, Class A, (1-month USD CME Term SOFR + 1.898%) 6.234% 4/15/2037<sup>1,9,10</sup> |  | 329 | 322 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.45% 6/15/2027<sup>1,9,10</sup> |  | 332 | 330 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 5.018% 9/15/2036<sup>1,9,10</sup> |  | 548 | 529 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 5.217% 10/15/2036<sup>1,9,10</sup> |  | 266 | 253 |
| BX Trust, Series 2021-ARIA Class C, (1-month USD-LIBOR + 1.646%) 5.964% 10/15/2036<sup>1,9,10</sup> |  | 100 | 93 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.827% 4/15/2037<sup>1,9,10</sup> |  | 155 | 152 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD-LIBOR + 0.67%) 4.988% 6/15/2038<sup>1,9,10</sup> |  | 173 | 167 |

---

118 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Commercial mortgage-backed securities (continued)** |  |  |  |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD-LIBOR + 1.40%) 5.718% 6/15/2038<sup>1,9,10</sup> | USD | 99 | $94 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD-LIBOR + 1.50%) 5.818% 11/15/2038<sup>1,9,10</sup> |  | 100 | 95 |
| BX Trust, Series 2022-PSB, Class A, (1-month USD CME Term SOFR + 2.451%) 6.787% 8/15/2039<sup>1,9,10</sup> |  | 99 | 99 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD-LIBOR + 1.08%) 5.398% 7/15/2038<sup>1,9,10</sup> |  | 98 | 95 |
| Great Wolf Trust, Series 2019-WOLF, Class A, (1-month USD-LIBOR + 1.034%) 5.352% 12/15/2036<sup>1,9,10</sup> |  | 24 | 23 |
| GS Mortgage Securities Trust, Series 2018-HULA, Class A, 5.238% 7/15/2025<sup>1,9,10</sup> |  | 229 | 223 |
| Hawaii Hotel Trust, Series 2019-MAUI, Class A, (1-month USD-LIBOR + 1.15%) 5.468% 5/17/2038<sup>1,9,10</sup> |  | 300 | 292 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% 1/5/2039<sup>1,9,10</sup> |  | 100 | 78 |
| La Quinta Mortgage Trust, Series 2022-LAQ, Class A, (1-month USD CME Term SOFR + 1.724%) 6.059% 3/15/2039<sup>1,9,10</sup> |  | 50 | 49 |
| LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A, (1-month USD-LIBOR + 1.05%) 5.368% 10/15/2038<sup>1,9,10</sup> |  | 62 | 59 |
| Multifamily Connecticut Avenue Securities, Series 2019-1, Class M10, (1-month USD-LIBOR + 3.25%) 7.639% 10/15/2049<sup>1,9,10</sup> |  | 141 | 133 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD-LIBOR + 0.731%) 5.049% 11/15/2038<sup>1,9,10</sup> |  | 361 | 348 |
|  |  |  | **3542** |
| **Total mortgage-backed obligations** |  |  | **69807** |
| **Corporate bonds, notes & loans 1.72%** |  |  |  |
| **Health care 0.28%** |  |  |  |
| AbbVie, Inc. 3.20% 11/21/2029 |  | 25 | 23 |
| AbbVie, Inc. 4.25% 11/21/2049 |  | 39 | 33 |
| Amgen, Inc. 4.05% 8/18/2029 |  | 145 | 136 |
| Amgen, Inc. 4.20% 3/1/2033 |  | 133 | 123 |
| Amgen, Inc. 4.20% 2/22/2052 |  | 19 | 15 |
| Amgen, Inc. 4.875% 3/1/2053 |  | 45 | 40 |
| AstraZeneca PLC 3.375% 11/16/2025 |  | 200 | 193 |
| AstraZeneca PLC 3.00% 5/28/2051 |  | 11 | 8 |
| Centene Corp. 4.625% 12/15/2029 |  | 530 | 486 |
| Centene Corp. 3.375% 2/15/2030 |  | 179 | 152 |
| Centene Corp. 2.625% 8/1/2031 |  | 40 | 31 |
| Gilead Sciences, Inc. 1.65% 10/1/2030 |  | 8 | 6 |
| HCA, Inc. 2.375% 7/15/2031 |  | 18 | 14 |
| Humana, Inc. 3.70% 3/23/2029 |  | 12 | 11 |
| Merck & Co., Inc. 1.70% 6/10/2027 |  | 118 | 105 |
| Merck & Co., Inc. 3.40% 3/7/2029 |  | 110 | 103 |
| Regeneron Pharmaceuticals, Inc. 1.75% 9/15/2030 |  | 8 | 6 |
| Regeneron Pharmaceuticals, Inc. 2.80% 9/15/2050 |  | 2 | 1 |
| Shire PLC 3.20% 9/23/2026 |  | 270 | 254 |
| Teva Pharmaceutical Finance Co. BV 6.00% 4/15/2024 |  | 700 | 687 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  | 650 | 570 |
| Teva Pharmaceutical Finance Co. BV 4.10% 10/1/2046 |  | 300 | 184 |
| Zoetis, Inc. 5.60% 11/16/2032 |  | 25 | 26 |
|  |  |  | **3207** |
| **Energy 0.27%** |  |  |  |
| Apache Corp. 4.25% 1/15/2030 |  | 385 | 341 |
| Baker Hughes Holdings, LLC 2.061% 12/15/2026 |  | 8 | 7 |
| BP Capital Markets America, Inc. 3.633% 4/6/2030 |  | 360 | 331 |
| Cenovus Energy, Inc. 5.40% 6/15/2047 |  | 73 | 66 |
| EQT Corp. 5.00% 1/15/2029 |  | 35 | 33 |
| EQT Corp. 3.625% 5/15/2031<sup>1</sup> |  | 20 | 17 |

---

American Funds Insurance Series 119

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| Equinor ASA 2.375% 5/22/2030 | USD | 365 | $311 |
| Exxon Mobil Corp. 2.995% 8/16/2039 |  | 200 | 154 |
| Exxon Mobil Corp. 3.452% 4/15/2051 |  | 25 | 19 |
| Kinder Morgan, Inc. 5.45% 8/1/2052 |  | 11 | 10 |
| MPLX, LP 4.95% 9/1/2032 |  | 20 | 19 |
| MPLX, LP 4.95% 3/14/2052 |  | 20 | 16 |
| New Fortress Energy, Inc. 6.50% 9/30/2026<sup>1</sup> |  | 80 | 75 |
| NGL Energy Operating, LLC 7.50% 2/1/2026<sup>1</sup> |  | 80 | 71 |
| ONEOK, Inc. 3.10% 3/15/2030 |  | 42 | 35 |
| ONEOK, Inc. 7.15% 1/15/2051 |  | 97 | 99 |
| Pemex Project Funding Master Trust, Series 13, 6.625% 6/15/2035 |  | 150 | 109 |
| Petróleos Mexicanos 6.50% 1/23/2029 |  | 20 | 17 |
| Petróleos Mexicanos 8.75% 6/2/2029 |  | 177 | 166 |
| Sabine Pass Liquefaction, LLC 4.50% 5/15/2030 |  | 142 | 132 |
| Shell International Finance BV 2.00% 11/7/2024 |  | 420 | 400 |
| TransCanada Corp. 5.875% 8/15/2076 (3-month USD-LIBOR + 4.64% on 8/15/2026)<sup>12</sup> |  | 540 | 515 |
| TransCanada PipeLines, Ltd. 5.10% 3/15/2049 |  | 150 | 137 |
| Williams Companies, Inc. 5.30% 8/15/2052 |  | 40 | 36 |
|  |  |  | **3116** |
| **Communication services 0.24%** |  |  |  |
| América Móvil, SAB de CV, 8.46% 12/18/2036 | MXN | 1300 | 58 |
| AT&T, Inc. 3.50% 6/1/2041 | USD | 75 | 56 |
| CCO Holdings, LLC 4.25% 2/1/2031<sup>1</sup> |  | 360 | 290 |
| CCO Holdings, LLC 4.75% 2/1/2032<sup>1</sup> |  | 25 | 20 |
| CCO Holdings, LLC 4.25% 1/15/2034<sup>1</sup> |  | 175 | 130 |
| Charter Communications Operating, LLC 3.70% 4/1/2051 |  | 25 | 15 |
| Meta Platforms, Inc. 3.85% 8/15/2032 |  | 160 | 141 |
| Meta Platforms, Inc. 4.45% 8/15/2052 |  | 95 | 76 |
| Netflix, Inc. 4.875% 4/15/2028 |  | 150 | 145 |
| SBA Tower Trust 1.631% 11/15/2026<sup>1</sup> |  | 253 | 215 |
| Sprint Corp. 6.875% 11/15/2028 |  | 325 | 338 |
| Sprint Corp. 8.75% 3/15/2032 |  | 90 | 107 |
| T-Mobile US, Inc. 3.875% 4/15/2030 |  | 625 | 568 |
| T-Mobile US, Inc. 2.55% 2/15/2031 |  | 253 | 207 |
| Verizon Communications, Inc. 1.75% 1/20/2031 |  | 142 | 111 |
| Walt Disney Company 4.625% 3/23/2040 |  | 120 | 113 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032<sup>1</sup> |  | 56 | 46 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042<sup>1</sup> |  | 47 | 36 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052<sup>1</sup> |  | 88 | 64 |
|  |  |  | **2736** |
| **Utilities 0.23%** |  |  |  |
| AEP Transmission Co., LLC 3.80% 6/15/2049 |  | 45 | 35 |
| Duke Energy Florida, LLC 5.95% 11/15/2052 |  | 25 | 27 |
| Edison International 4.125% 3/15/2028 |  | 132 | 123 |
| Edison International 6.95% 11/15/2029 |  | 25 | 26 |
| FirstEnergy Corp. 2.65% 3/1/2030 |  | 493 | 403 |
| FirstEnergy Corp. 2.25% 9/1/2030 |  | 107 | 85 |
| ITC Holdings Corp. 3.35% 11/15/2027 |  | 25 | 23 |
| Pacific Gas and Electric Co. 3.25% 2/16/2024 |  | 1025 | 1001 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026 |  | 97 | 89 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028 |  | 105 | 93 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028 |  | 284 | 262 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031 |  | 375 | 292 |
| Southern California Edison Co., Series C, 3.60% 2/1/2045 |  | 206 | 149 |
| Union Electric Co. 3.90% 4/1/2052 |  | 25 | 20 |
| WEC Energy Group, Inc. 5.15% 10/1/2027 |  | 25 | 25 |
|  |  |  | **2653** |

---

120 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials 0.20%** |  |  |  |
| AerCap Ireland Capital DAC 3.30% 1/30/2032 | USD | 150 | $118 |
| American Express Co. 4.42% 8/3/2033 (USD-SOFR + 1.76% on 8/3/2032)<sup>12</sup> |  | 82 | 78 |
| Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027)<sup>12</sup> |  | 40 | 39 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030)<sup>12</sup> |  | 231 | 177 |
| Bank of America Corp. 5.015% 7/22/2033 (USD-SOFR + 2.16% on 7/22/2032)<sup>12</sup> |  | 84 | 80 |
| Charles Schwab Corp. 2.45% 3/3/2027 |  | 25 | 23 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032)<sup>12</sup> |  | 35 | 28 |
| CME Group, Inc. 2.65% 3/15/2032 |  | 50 | 42 |
| Corebridge Financial, Inc. 3.85% 4/5/2029<sup>1</sup> |  | 180 | 164 |
| Corebridge Financial, Inc. 3.90% 4/5/2032<sup>1</sup> |  | 32 | 28 |
| Corebridge Financial, Inc. 4.35% 4/5/2042<sup>1</sup> |  | 7 | 6 |
| Corebridge Financial, Inc. 4.40% 4/5/2052<sup>1</sup> |  | 49 | 39 |
| Credit Suisse Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032)<sup>1,12</sup> |  | 250 | 257 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)<sup>1,12</sup> |  | 200 | 184 |
| Discover Financial Services 6.70% 11/29/2032 |  | 25 | 25 |
| Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031)<sup>12</sup> |  | 75 | 59 |
| Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032)<sup>12</sup> |  | 40 | 33 |
| Intercontinental Exchange, Inc. 4.60% 3/15/2033 |  | 18 | 17 |
| Intercontinental Exchange, Inc. 4.95% 6/15/2052 |  | 16 | 15 |
| JPMorgan Chase & Co. 5.546% 12/15/2025 (USD-SOFR + 1.07% on 12/15/2024)<sup>12</sup> |  | 100 | 100 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)<sup>12</sup> |  | 40 | 39 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031)<sup>12</sup> |  | 227 | 174 |
| JPMorgan Chase & Co. 2.963% 1/25/2033 (USD-SOFR + 1.26% on 1/25/2032)<sup>12</sup> |  | 17 | 14 |
| JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)<sup>12</sup> |  | 25 | 24 |
| Morgan Stanley 4.889% 7/20/2033 (USD-SOFR + 2.077% on 7/20/2032)<sup>12</sup> |  | 20 | 19 |
| Navient Corp. 5.00% 3/15/2027 |  | 150 | 132 |
| New York Life Global Funding 3.00% 1/10/2028<sup>1</sup> |  | 150 | 138 |
| SVB Financial Group 4.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)<sup>12</sup> |  | 38 | 24 |
| Wells Fargo & Company 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027)<sup>12</sup> |  | 45 | 44 |
| Wells Fargo & Company 3.35% 3/2/2033 (USD-SOFR + 1.50% on 3/2/2032)<sup>12</sup> |  | 105 | 89 |
| Wells Fargo & Company 4.897% 7/25/2033 (USD-SOFR + 4.897% on 7/25/2032)<sup>12</sup> |  | 35 | 33 |
|  |  |  | **2242** |
| **Consumer discretionary 0.19%** |  |  |  |
| Bayerische Motoren Werke AG 3.45% 4/1/2027<sup>1</sup> |  | 25 | 23 |
| Bayerische Motoren Werke AG 4.15% 4/9/2030<sup>1</sup> |  | 290 | 276 |
| Bayerische Motoren Werke AG 3.70% 4/1/2032<sup>1</sup> |  | 25 | 22 |
| Daimler Trucks Finance North America, LLC 1.125% 12/14/2023<sup>1</sup> |  | 495 | 476 |
| Daimler Trucks Finance North America, LLC 1.625% 12/13/2024<sup>1</sup> |  | 175 | 162 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028<sup>1</sup> |  | 150 | 126 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031<sup>1</sup> |  | 150 | 117 |
| Ford Motor Co. 2.30% 2/10/2025 |  | 200 | 183 |
| Ford Motor Credit Company, LLC 5.125% 6/16/2025 |  | 200 | 193 |
| Grand Canyon University 4.125% 10/1/2024 |  | 200 | 188 |
| McDonald's Corp. 4.60% 9/9/2032 |  | 15 | 15 |
| McDonald's Corp. 5.15% 9/9/2052 |  | 10 | 10 |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>1</sup> |  | 160 | 172 |
| Toyota Motor Credit Corp. 5.40% 11/10/2025 |  | 228 | 232 |
|  |  |  | **2195** |
| **Industrials 0.10%** |  |  |  |
| Ashtead Capital, Inc. 5.50% 8/11/2032<sup>1</sup> |  | 200 | 192 |
| Boeing Company 4.508% 5/1/2023 |  | 270 | 270 |
| Boeing Company 2.75% 2/1/2026 |  | 91 | 84 |
| Boeing Company 3.625% 2/1/2031 |  | 280 | 246 |
| Boeing Company 5.805% 5/1/2050 |  | 95 | 89 |

---

American Funds Insurance Series 121

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Industrials (continued)** |  |  |  |
| Canadian Pacific Railway, Ltd. 2.45% 12/2/2031 | USD | 78 | $65 |
| Canadian Pacific Railway, Ltd. 3.10% 12/2/2051 |  | 102 | 69 |
| CSX Corp. 4.75% 11/15/2048 |  | 50 | 45 |
| CSX Corp. 4.50% 11/15/2052 |  | 35 | 31 |
| Lockheed Martin Corp. 5.10% 11/15/2027 |  | 19 | 19 |
| Masco Corp. 3.125% 2/15/2051 |  | 10 | 6 |
| Union Pacific Corp. 2.80% 2/14/2032 |  | 17 | 15 |
| Union Pacific Corp. 3.50% 2/14/2053 |  | 20 | 15 |
|  |  |  | **1146** |
| **Consumer staples 0.09%** |  |  |  |
| 7-Eleven, Inc. 0.80% 2/10/2024<sup>1</sup> |  | 50 | 48 |
| 7-Eleven, Inc. 1.30% 2/10/2028<sup>1</sup> |  | 30 | 25 |
| 7-Eleven, Inc. 1.80% 2/10/2031<sup>1</sup> |  | 207 | 159 |
| Altria Group, Inc. 3.875% 9/16/2046 |  | 22 | 15 |
| Altria Group, Inc. 3.70% 2/4/2051 |  | 28 | 18 |
| Anheuser-Busch InBev NV 4.50% 6/1/2050 |  | 20 | 18 |
| British American Tobacco PLC 4.70% 4/2/2027 |  | 105 | 101 |
| British American Tobacco PLC 4.448% 3/16/2028 |  | 150 | 139 |
| British American Tobacco PLC 4.54% 8/15/2047 |  | 82 | 58 |
| British American Tobacco PLC 4.758% 9/6/2049 |  | 121 | 88 |
| Kraft Heinz Company 3.00% 6/1/2026 |  | 93 | 87 |
| Kraft Heinz Company 4.875% 10/1/2049 |  | 170 | 148 |
| Kraft Heinz Company 5.50% 6/1/2050 |  | 75 | 72 |
| Philip Morris International, Inc. 5.125% 11/17/2027 |  | 43 | 43 |
| Philip Morris International, Inc. 5.625% 11/17/2029 |  | 23 | 23 |
| Philip Morris International, Inc. 5.75% 11/17/2032 |  | 16 | 16 |
|  |  |  | **1058** |
| **Information technology 0.07%** |  |  |  |
| Apple, Inc. 3.35% 8/8/2032 |  | 20 | 18 |
| Apple, Inc. 3.95% 8/8/2052 |  | 20 | 17 |
| Broadcom, Inc. 4.00% 4/15/2029<sup>1</sup> |  | 3 | 3 |
| Broadcom, Inc. 4.15% 4/15/2032<sup>1</sup> |  | 11 | 10 |
| Broadcom, Inc. 3.137% 11/15/2035<sup>1</sup> |  | 2 | 1 |
| Broadcom, Inc. 3.75% 2/15/2051<sup>1</sup> |  | 91 | 63 |
| Lenovo Group, Ltd. 5.875% 4/24/2025 |  | 400 | 390 |
| Oracle Corp. 2.875% 3/25/2031 |  | 64 | 53 |
| Oracle Corp. 3.60% 4/1/2050 |  | 150 | 102 |
| ServiceNow, Inc. 1.40% 9/1/2030 |  | 130 | 100 |
|  |  |  | **757** |
| **Materials 0.03%** |  |  |  |
| Celanese US Holdings, LLC 6.379% 7/15/2032 |  | 10 | 9 |
| Dow Chemical Co. 3.60% 11/15/2050 |  | 75 | 54 |
| International Flavors & Fragrances, Inc. 1.832% 10/15/2027<sup>1</sup> |  | 100 | 84 |
| International Flavors & Fragrances, Inc. 3.468% 12/1/2050<sup>1</sup> |  | 10 | 7 |
| LYB International Finance III, LLC 3.625% 4/1/2051 |  | 102 | 69 |
| Nutrien, Ltd. 5.90% 11/7/2024 |  | 84 | 85 |
| South32 Treasury, Ltd. 4.35% 4/14/2032<sup>1</sup> |  | 10 | 9 |
|  |  |  | **317** |
| **Real estate 0.02%** |  |  |  |
| American Tower Corp. 4.05% 3/15/2032 |  | 11 | 10 |
| Equinix, Inc. 1.55% 3/15/2028 |  | 25 | 21 |
| Equinix, Inc. 3.20% 11/18/2029 |  | 144 | 125 |
| Equinix, Inc. 2.50% 5/15/2031 |  | 47 | 38 |
|  |  |  | **194** |
| **Total corporate bonds, notes & loans** |  |  | **19621** |

---

122 American Funds Insurance Series

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations 0.84%** |  |  |  |
| Affirm Asset Securitization Trust, Series 2022-X1, Class A, 1.75% 2/15/2027<sup>1,9</sup> | USD | 96 | $93 |
| American Express Credit Account Master Trust, Series 2022-3, Class A, 3.75% 8/16/2027<sup>9</sup> |  | 100 | 98 |
| American Homes 4 Rent, Series 2014-SFR2, Class A, 3.786% 10/17/2036<sup>1,9</sup> |  | 86 | 83 |
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052<sup>1,9</sup> |  | 87 | 83 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052<sup>1,9</sup> |  | 100 | 95 |
| AmeriCredit Automobile Receivables Trust, Series 2022-2, Class A2B, (30-day Average USD-SOFR + 1.15%) 4.958% 12/18/2025<sup>9,10</sup> |  | 132 | 132 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027<sup>1,9</sup> |  | 197 | 179 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027<sup>1,9</sup> |  | 100 | 90 |
| Bankers Healthcare Group Securitization Trust, Series 2022-A, Class A, 1.71% 2/20/2035<sup>1,9</sup> |  | 69 | 64 |
| CarMax Auto Owner Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.77%) 4.577% 9/15/2025<sup>9,10</sup> |  | 103 | 103 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060<sup>1,9</sup> |  | 354 | 317 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060<sup>1,9</sup> |  | 89 | 73 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060<sup>1,9</sup> |  | 91 | 79 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060<sup>1,9</sup> |  | 91 | 72 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061<sup>1,9</sup> |  | 319 | 276 |
| CF Hippolyta, LLC, Series 2022-1, Class A1, 5.97% 8/15/2062<sup>1,9</sup> |  | 493 | 483 |
| Exeter Automobile Receivables Trust, Series 2022-3A, Class A2, 3.45% 8/15/2024<sup>9</sup> |  | 36 | 36 |
| Exeter Automobile Receivables Trust, Series 2022-4A, Class A2, 3.99% 8/15/2024<sup>9</sup> |  | 44 | 44 |
| FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.145% 5/17/2039<sup>1,9</sup> |  | 131 | 123 |
| Ford Credit Auto Owner Trust, Series 2022-B, Class A2B, (30-day Average USD-SOFR + 0.60%) 4.407% 2/15/2025<sup>9,10</sup> |  | 70 | 70 |
| Freedom Financial, Series 2022-1FP, Class A, 0.94% 3/19/2029<sup>1,9</sup> |  | 7 | 7 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045<sup>1,9</sup> |  | 506 | 447 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046<sup>1,9</sup> |  | 85 | 72 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039<sup>1,9</sup> |  | 133 | 125 |
| GM Financial Automobile Leasing Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.71%) 4.536% 10/21/2024<sup>9,10</sup> |  | 76 | 76 |
| GM Financial Consumer Automobile Receivables Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.60%) 4.408% 9/16/2025<sup>9,10</sup> |  | 78 | 78 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035<sup>1,9</sup> |  | 184 | 188 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 12/26/2025<sup>1,9</sup> |  | 247 | 228 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 12/26/2025<sup>1,9</sup> |  | 100 | 92 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027<sup>1,9</sup> |  | 268 | 234 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027<sup>1,9</sup> |  | 100 | 86 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027<sup>1,9</sup> |  | 100 | 83 |
| Hyundai Auto Receivables Trust, Series 2022-B, Class A2B, (30-day Average USD-SOFR + 0.58%) 4.387% 5/15/2025<sup>9,10</sup> |  | 100 | 100 |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069<sup>1,9</sup> |  | 46 | 40 |
| Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 10/15/2069<sup>1,9</sup> |  | 143 | 122 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062<sup>1,9</sup> |  | 211 | 187 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062<sup>1,9</sup> |  | 423 | 376 |
| Nelnet Student Loan Trust, Series 2021-C, Class AFL, (1-month USD-LIBOR + 0.74%) 5.093% 4/20/2062<sup>1,9,10</sup> |  | 218 | 212 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061<sup>1,9</sup> |  | 935 | 792 |
| Nissan Auto Lease Trust, Series 2021-A, Class A3, 0.52% 8/15/2024<sup>9</sup> |  | 199 | 194 |
| Nissan Auto Lease Trust, Series 2022-A, Class A2B, (30-day Average USD-SOFR + 0.68%) 4.487% 8/15/2024<sup>9,10</sup> |  | 236 | 236 |
| OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class A, 1.59% 5/17/2027<sup>1,9</sup> |  | 100 | 92 |
| Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/2031<sup>1,9</sup> |  | 100 | 87 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027<sup>1,9</sup> |  | 100 | 98 |
| Santander Drive Auto Receivables Trust, Series 2022-4, Class A2, 4.05% 7/15/2025<sup>9</sup> |  | 158 | 158 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class A2, 5.81% 1/15/2026<sup>9</sup> |  | 577 | 578 |
| SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/2053<sup>1,9</sup> |  | 73 | 62 |

---

American Funds Insurance Series 123

Capital Income Builder (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033<sup>1,9</sup> | USD | 211 | $188 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034<sup>1,9,10</sup> |  | 335 | 297 |
| Toyota Auto Receivables Owner Trust, Series 2022-C, Class A2B, (1-month USD-SOFR + 0.57%) 4.377% 8/15/2025<sup>9,10</sup> |  | 27 | 27 |
| Verizon Master Trust, Series 2022-3, Class A, 3.01% 5/20/2027 (3.76% on 11/20/2023)<sup>9,12</sup> |  | 160 | 157 |
| Verizon Master Trust, Series 2022-7, Class A1A, 5.23% 11/22/2027 (5.98% on 11/20/2024)<sup>9,12</sup> |  | 451 | 454 |
| Volkswagen Auto Lease Trust, Series 2022-A, Class A2, 3.02% 10/21/2024<sup>9</sup> |  | 102 | 100 |
| Westlake Automobile Receivables Trust, Series 2022-2A, Class A2A, 3.36% 8/15/2025<sup>1,9</sup> |  | 492 | 487 |
| Westlake Automobile Receivables Trust, Series 2022-3, Class C, 5.49% 7/15/2026<sup>1,9</sup> |  | 80 | 79 |
| Westlake Automobile Receivables Trust, Series 2022-3, Class B, 5.99% 12/15/2027<sup>1,9</sup> |  | 100 | 100 |
|  |  |  | **9532** |
| **Bonds & notes of governments & government agencies outside the U.S. 0.07%** |  |  |  |
| Peru (Republic of) 2.783% 1/23/2031 |  | 190 | 158 |
| Portuguese Republic 5.125% 10/15/2024 |  | 18 | 18 |
| Qatar (State of) 4.50% 4/23/2028 |  | 200 | 201 |
| Saudi Arabia (Kingdom of) 3.625% 3/4/2028 |  | 200 | 191 |
| United Mexican States 3.25% 4/16/2030 |  | 200 | 175 |
|  |  |  | **743** |
| **Municipals 0.02%** |  |  |  |
| **California 0.00%** |  |  |  |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 6/1/2034 |  | **15** | **12** |
| **Illinois 0.02%** |  |  |  |
| G.O. Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033 |  | **225** | **216** |
| **Total municipals** |  |  | **228** |
| **Total bonds, notes & other debt instruments** (cost: $218,921,000) |  |  | **207479** |
| **Short-term securities 7.36%** |  | Shares |  |
| **Money market investments 6.84%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>6,13</sup> |  | **779601** | **77952** |
| **Money market investments purchased with collateral from securities on loan 0.52%** |  |  |  |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>13,14</sup> |  | 2241328 | 2241 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>13,14</sup> |  | 1944356 | 1945 |
| Capital Group Central Cash Fund 4.31%<sup>6,13,14</sup> |  | 17119 | 1712 |
|  |  |  | **5898** |
| **Total short-term securities** (cost: $83,839,000) |  |  | **83850** |
| **Total investment securities 102.99%** (cost: $1,046,428,000) |  |  | **1173072** |
| Other assets less liabilities (2.99)% |  |  | (34006) |
| **Net assets 100.00%** |  |  | $**1139066** |

---

124 American Funds Insurance Series

Capital Income Builder (continued)

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2022<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Long | 203 | March 2023 | USD | 41631 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 |
| 5 Year U.S. Treasury Note Futures | Long | 357 | March 2023 |  | 38531 | (52) |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 7 | March 2023 |  | 828 | (12) |
| 10 Year U.S. Treasury Note Futures | Short | 14 | March 2023 |  | (1572) | 11 |
| 20 Year U.S. Treasury Bond Futures | Long | 9 | March 2023 |  | 1128 | (13) |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 61 | March 2023 |  | 8193 | (62) |
|  |  |  |  |  |  | $(79) |

---

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** |<br>**Notional<br> amount<br> (000)** |<br>**Value at<br> 12/31/2022<br> (000)** | **Upfront**<br>**premium<br> paid<br> (000)** | **Unrealized<br> (depreciation)**<br>**appreciation<br> at 12/31/2022<br> (000)** |
| 3.52647% | Annual | U.S. EFFR | Annual | 6/16/2024 | USD5,215 | $(90) | $&nbsp;&nbsp;&nbsp;&nbsp;— | $(90) |
| 3.5291% | Annual | U.S. EFFR | Annual | 6/16/2024 | 5635 | (98) |  | (98) |
| 3.497% | Annual | U.S. EFFR | Annual | 6/16/2024 | 5600 | (99) |  | (99) |
| 3.4585% | Annual | U.S. EFFR | Annual | 6/17/2024 | 898 | (17) |  | (17) |
| 3.4325% | Annual | U.S. EFFR | Annual | 6/17/2024 | 4100 | (76) |  | (76) |
| 3-month USD-LIBOR | Quarterly | 0.5935% | Semi-annual | 5/18/2030 | 7200 | 1512 |  | 1512 |
| 3-month USD-LIBOR | Quarterly | 0.807% | Semi-annual | 5/18/2050 | 805 | 388 |  | 388 |
|  |  |  |  |  |  | $1520 | $&nbsp;&nbsp;&nbsp;&nbsp;— | $1520 |

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — sell protection**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Financing<br> rate received** | **Payment<br> frequency** | **Reference<br> index** | **Expiration<br> date** | **Notional**<br> **amount**<br> **(000)** | **<sup>15</sup>** <br>| **Value at<br> 12/31/2022<br> (000)** | **<sup>16</sup>** <br>| **Upfront<br> premium<br> paid<br> (000)** | **Unrealized<br> depreciation<br> at 12/31/2022<br> (000)** |
| 5.00% | Quarterly | CDX.NA.HY.38 | 6/20/2027 | USD6,138 |  | $127 |  | $174 | $(47) |

---

American Funds Insurance Series 125

Capital Income Builder (continued)

**Investments in affiliates<sup>6</sup>**

**** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> (depreciation)<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Investment funds 2.46%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Corporate Bond Fund | $30304 | $6708 | $3076 | $(677) | $(5200) | $28059 | $900 |
| **Short-term securities 6.99%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 6.84%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>13</sup> | 42892 | 254586 | 219519 | (14) | 7 | 77952 | 1714 |
| &nbsp;&nbsp;&nbsp;**Money market investments purchased with collateral from securities on loan 0.15%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>13,14</sup> | 1954 |  | 242<sup>17</sup> |  |  | 1712 | —<sup>18</sup> |
| **Total short-term securities** |  |  |  |  |  | 79664 |  |
| **Total 9.45%** |  |  |  | $(691) | $(5193) | $107723 | $2614 |

---

<sup>1</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $20,234,000, which represented 1.78% of the net assets of the fund.

<sup>2</sup> Value determined using significant unobservable inputs.

<sup>3</sup> Security did not produce income during the last 12 months.

<sup>4</sup> Amount less than one thousand.

<sup>5</sup> All or a portion of this security was on loan. The total value of all such securities was $6,251,000, which represented .55% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>6</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>7</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $1,982,000, which represented .17% of the net assets of the fund.

<sup>8</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>9</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>10</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>11</sup> Purchased on a TBA basis.

<sup>12</sup> Step bond; coupon rate may change at a later date.

<sup>13</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>14</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>15</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>16</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively.

<sup>17</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>18</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

Assn. = Association

CAD = Canadian dollars

CDI = CREST Depository Interest

CME = CME Group

DAC = Designated Activity Company

EFFR = Effective Federal Funds Rate

EUR = Euros

G.O. = General Obligation

GBP = British pounds

GDR = Global Depositary Receipts

LIBOR = London Interbank Offered Rate

MXN = Mexican pesos

REIT = Real Estate Investment Trust

SDR = Swedish Depositary Receipts

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

Refer to the notes to financial statements.

126 American Funds Insurance Series

Asset Allocation Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 67.78%** | Shares | Value<br> (000) |
| **Health care 13.40%** |  |  |
| UnitedHealth Group, Inc. | 929300 | $492696 |
| Johnson & Johnson | 2030000 | 358600 |
| Pfizer, Inc. | 5493542 | 281489 |
| Humana, Inc. | 500000 | 256095 |
| Gilead Sciences, Inc. | 2665000 | 228790 |
| Cigna Corp. | 650000 | 215371 |
| AbbVie, Inc. | 1221978 | 197484 |
| Abbott Laboratories | 1600000 | 175664 |
| Eli Lilly and Company | 400469 | 146508 |
| Vertex Pharmaceuticals, Inc.<sup>1</sup> | 505500 | 145978 |
| CVS Health Corp. | 1453100 | 135414 |
| Regeneron Pharmaceuticals, Inc.<sup>1</sup> | 187220 | 135077 |
| Centene Corp.<sup>1</sup> | 1235513 | 101324 |
| Bristol-Myers Squibb Company | 1374818 | 98918 |
| AstraZeneca PLC | 461000 | 62565 |
| AstraZeneca PLC (ADR) | 249881 | 16942 |
| Thermo Fisher Scientific, Inc. | 116000 | 63880 |
| Alnylam Pharmaceuticals, Inc.<sup>1</sup> | 261834 | 62225 |
| Novo Nordisk A/S, Class B | 246400 | 33363 |
| AbCellera Biologics, Inc.<sup>1,2</sup> | 2871293 | 29086 |
| Seagen, Inc.<sup>1</sup> | 170500 | 21911 |
| Rotech Healthcare, Inc.<sup>1,3,4</sup> | 184138 | 19703 |
| Elevance Health, Inc. | 37542 | 19258 |
| Zoetis, Inc., Class A | 95618 | 14013 |
| Karuna Therapeutics, Inc.<sup>1</sup> | 57100 | 11220 |
|  |  | **3323574** |
| **Consumer discretionary 9.59%** |  |  |
| Aramark | 11375152 | 470249 |
| Home Depot, Inc. | 1206200 | 380990 |
| General Motors Company | 6575000 | 221183 |
| Booking Holdings, Inc.<sup>1</sup> | 87604 | 176546 |
| Lennar Corp., Class A | 1357800 | 122881 |
| Dollar General Corp. | 493075 | 121420 |
| LVMH Moët Hennessy-Louis Vuitton SE | 165700 | 120372 |
| Amazon.com, Inc.<sup>1</sup> | 1340400 | 112594 |
| Target Corp. | 750000 | 111780 |
| Etsy, Inc.<sup>1</sup> | 840578 | 100684 |
| Entain PLC | 6000000 | 96202 |
| Burlington Stores, Inc.<sup>1</sup> | 431484 | 87488 |
| D.R. Horton, Inc. | 870000 | 77552 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 1014324 | 50138 |
| YUM! Brands, Inc. | 277000 | 35478 |
| Dollar Tree Stores, Inc.<sup>1</sup> | 185000 | 26166 |
| YETI Holdings, Inc.<sup>1</sup> | 495471 | 20468 |
| Darden Restaurants, Inc. | 142000 | 19643 |
| Chipotle Mexican Grill, Inc.<sup>1</sup> | 9709 | 13471 |
| Li Auto, Inc., Class A (ADR)<sup>1,2</sup> | 350694 | 7154 |
| Xpeng, Inc., Class A (ADR)<sup>1,2</sup> | 703800 | 6996 |
|  |  | **2379455** |
| **Financials 9.21%** |  |  |
| Aon PLC, Class A | 807600 | 242393 |
| Chubb, Ltd. | 800000 | 176480 |
| Apollo Asset Management, Inc. | 2630627 | 167808 |
| Synchrony Financial | 4100000 | 134726 |
| JPMorgan Chase & Co. | 973100 | 130493 |
| First Republic Bank | 1000000 | 121890 |
| Bank of America Corp. | 3000000 | 99360 |
| Arthur J. Gallagher & Co. | 476724 | 89881 |
| Capital One Financial Corp. | 850000 | 79016 |
| Blue Owl Capital, Inc., Class A<sup>2</sup> | 7085161 | 75103 |

---

American Funds Insurance Series 127

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Financials (continued)** |  |  |
| Goldman Sachs Group, Inc. | 213000 | $73140 |
| Ares Management Corp., Class A | 1015403 | 69494 |
| KKR & Co., Inc. | 1497000 | 69491 |
| Nasdaq, Inc. | 1098300 | 67381 |
| Charles Schwab Corp. | 801126 | 66702 |
| CME Group, Inc., Class A | 380200 | 63934 |
| Discover Financial Services | 600000 | 58698 |
| Toronto-Dominion Bank (CAD denominated)<sup>2</sup> | 885700 | 57348 |
| SLM Corp. | 3345000 | 55527 |
| Intercontinental Exchange, Inc. | 538487 | 55243 |
| Blackstone, Inc., nonvoting shares | 737500 | 54715 |
| S&P Global, Inc. | 118700 | 39757 |
| Brookfield Corp., Class A | 1260000 | 39640 |
| The Bank of N.T. Butterfield & Son, Ltd. | 1120585 | 33405 |
| Morgan Stanley | 339372 | 28853 |
| Antin Infrastructure Partners SA | 1243300 | 27033 |
| EQT AB | 1250263 | 26646 |
| Wells Fargo & Company | 570000 | 23535 |
| Progressive Corp. | 105000 | 13620 |
| Bridgepoint Group PLC | 5809554 | 13461 |
| OneMain Holdings, Inc. | 300000 | 9993 |
| Brookfield Asset Management, Ltd., Class A | 315000 | 9031 |
| Islandsbanki hf. | 9555235 | 8073 |
| Jonah Energy Parent, LLC<sup>3</sup> | 32117 | 1899 |
| Sberbank of Russia PJSC<sup>1,3</sup> | 8880000 | —<sup>5</sup> |
|  |  | **2283769** |
| **Information technology 8.88%** |  |  |
| Microsoft Corp. | 3355454 | 804705 |
| Broadcom, Inc. | 1249134 | 698428 |
| ASML Holding NV (New York registered) (ADR) | 316764 | 173080 |
| MKS Instruments, Inc. | 1600000 | 135568 |
| Taiwan Semiconductor Manufacturing Company, Ltd. (ADR) | 1275000 | 94975 |
| Mastercard, Inc., Class A | 195977 | 68147 |
| NVIDIA Corp. | 332696 | 48620 |
| MediaTek, Inc. | 1463000 | 29717 |
| Oracle Corp. | 321820 | 26306 |
| Paychex, Inc. | 205595 | 23759 |
| GoDaddy, Inc., Class A<sup>1</sup> | 281000 | 21024 |
| Apple, Inc. | 150000 | 19490 |
| KLA Corp. | 49000 | 18474 |
| MicroStrategy, Inc., Class A<sup>1</sup> | 96100 | 13605 |
| Applied Materials, Inc. | 135000 | 13146 |
| Snowflake, Inc., Class A<sup>1</sup> | 85810 | 12317 |
|  |  | **2201361** |
| **Consumer staples 6.59%** |  |  |
| Philip Morris International, Inc. | 9438592 | 955280 |
| Nestlé SA | 1954200 | 225682 |
| Archer Daniels Midland Company | 1880000 | 174558 |
| British American Tobacco PLC (ADR) | 2634146 | 105313 |
| British American Tobacco PLC | 1080000 | 42849 |
| Altria Group, Inc. | 1570000 | 71764 |
| Avenue Supermarts, Ltd.<sup>1</sup> | 970539 | 47566 |
| Costco Wholesale Corp. | 26000 | 11869 |
|  |  | **1634881** |
| **Industrials 6.22%** |  |  |
| Northrop Grumman Corp. | 933553 | 509356 |
| Lockheed Martin Corp. | 474900 | 231034 |
| L3Harris Technologies, Inc. | 1094000 | 227782 |
| Boeing Company<sup>1</sup> | 1039506 | 198015 |

---

128 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Industrials (continued)** |  |  |
| Caterpillar, Inc. | 618000 | $148048 |
| CSX Corp. | 2628369 | 81427 |
| Raytheon Technologies Corp. | 395000 | 39863 |
| General Electric Co. | 288000 | 24132 |
| Huntington Ingalls Industries, Inc. | 100000 | 23068 |
| AMETEK, Inc. | 140000 | 19561 |
| Chart Industries, Inc.<sup>1</sup> | 130200 | 15003 |
| Copart, Inc.<sup>1</sup> | 232000 | 14126 |
| Storskogen Group AB, Class B | 16853587 | 12088 |
|  |  | **1543503** |
| **Communication services 4.72%** |  |  |
| Alphabet, Inc., Class C<sup>1</sup> | 2992500 | 265525 |
| Alphabet, Inc., Class A<sup>1</sup> | 1269460 | 112004 |
| Charter Communications, Inc., Class A<sup>1</sup> | 821000 | 278401 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 1777348 | 213886 |
| Netflix, Inc.<sup>1</sup> | 384527 | 113390 |
| Comcast Corp., Class A | 2874400 | 100518 |
| ZoomInfo Technologies, Inc.<sup>1</sup> | 1747900 | 52629 |
| Activision Blizzard, Inc. | 400000 | 30620 |
| Electronic Arts, Inc. | 35000 | 4276 |
|  |  | **1171249** |
| **Energy 4.12%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)<sup>2</sup> | 7515800 | 417366 |
| Pioneer Natural Resources Company | 752000 | 171749 |
| ConocoPhillips | 1252000 | 147736 |
| Cenovus Energy, Inc. (CAD denominated) | 7500000 | 145513 |
| Hess Corp. | 400000 | 56728 |
| Chevron Corp. | 270000 | 48462 |
| TC Energy Corp. | 631700 | 25180 |
| Equitrans Midstream Corp. | 718490 | 4814 |
| Diamond Offshore Drilling, Inc.<sup>1</sup> | 266381 | 2770 |
| Altera Infrastructure, LP<sup>1,3</sup> | 6273 | 497 |
| Constellation Oil Services Holding SA, Class B-1<sup>1,3</sup> | 480336 | 53 |
| McDermott International, Ltd.<sup>1</sup> | 30762 | 10 |
| Bighorn Permian Resources, LLC<sup>3</sup> | 4392 | —<sup>5</sup> |
|  |  | **1020878** |
| **Materials 3.45%** |  |  |
| Corteva, Inc. | 4365508 | 256605 |
| Mosaic Co. | 1940000 | 85108 |
| Linde PLC | 256541 | 83678 |
| Royal Gold, Inc. | 700000 | 78904 |
| Wheaton Precious Metals Corp. | 1785000 | 69758 |
| Nucor Corp. | 500000 | 65905 |
| Franco-Nevada Corp. | 347089 | 47313 |
| First Quantum Minerals, Ltd. | 2100000 | 43877 |
| ATI, Inc.<sup>1</sup> | 1350000 | 40311 |
| Vale SA, ordinary nominative shares | 1750000 | 29460 |
| Nutrien, Ltd. (CAD denominated) | 400272 | 29222 |
| Lundin Mining Corp.<sup>2</sup> | 4320000 | 26513 |
|  |  | **856654** |
| **Real estate 0.96%** |  |  |
| VICI Properties, Inc. REIT | 2769449 | 89730 |
| Gaming and Leisure Properties, Inc. REIT | 1593566 | 83009 |
| Equinix, Inc. REIT | 63445 | 41559 |
| Crown Castle, Inc. REIT | 166000 | 22516 |
|  |  | **236814** |

---

American Funds Insurance Series 129

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Common stocks** (continued) | Shares | Shares | Value <br> (000) |
| **Utilities 0.64%** |  |  |  |
| CenterPoint Energy, Inc. |  | 1717846 | $51518 |
| Exelon Corp. |  | 779231 | 33686 |
| AES Corp. |  | 983067 | 28273 |
| Sempra Energy |  | 132039 | 20405 |
| FirstEnergy Corp. |  | 307000 | 12876 |
| Constellation Energy Corp. |  | 138666 | 11955 |
|  |  |  | **158713** |
| **Total common stocks** (cost: $11,870,390,000) |  |  | **16810851** |
| **Preferred securities 0.00%** |  |  |  |
| **Industrials 0.00%** |  |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares<sup>1,3,6</sup> |  | **450** | **189** |
| **Total preferred securities** (cost: $466,000) |  |  | **189** |
| **Rights & warrants 0.00%** |  |  |  |
| **Energy 0.00%** |  |  |  |
| Constellation Oil Services Holding SA, Class D, warrants, expire 6/10/2071<sup>1,3</sup> |  | **4** | **—** **<sup>5</sup>** |
| **Total rights & warrants** (cost: $0) |  |  | **—** **<sup>5</sup>** |
| **Convertible stocks 0.26%** |  |  |  |
| **Health care 0.26%** |  |  |  |
| Carbon Health Technologies, Inc., convertible preferred shares, 1.00% 7/9/2024<sup>3,4</sup> |  | **50000** | **63388** |
| **Total convertible stocks** (cost: $50,000,000) |  |  | **63388** |
| **Investment funds 5.51%** |  |  |  |
| Capital Group Central Corporate Bond Fund<sup>7</sup> |  | **167745028** | **1367122** |
| **Total investment funds** (cost: $1,676,023,000) |  |  | **1367122** |
| **Bonds, notes & other debt instruments 21.72%** | Principal amount<br> (000) | Principal amount<br> (000) |  |
| **Mortgage-backed obligations 7.58%** |  |  |  |
| **Federal agency mortgage-backed obligations 7.02%** |  |  |  |
| Fannie Mae Pool #AD7072 4.00% 6/1/2025<sup>8</sup> | USD | 2 | 2 |
| Fannie Mae Pool #AE2321 4.00% 8/1/2025<sup>8</sup> |  | 1 | 1 |
| Fannie Mae Pool #AE3069 4.00% 9/1/2025<sup>8</sup> |  | 1 | 1 |
| Fannie Mae Pool #AH0829 4.00% 1/1/2026<sup>8</sup> |  | 1 | 1 |
| Fannie Mae Pool #AH6431 4.00% 2/1/2026<sup>8</sup> |  | 168 | 165 |
| Fannie Mae Pool #AH5618 4.00% 2/1/2026<sup>8</sup> |  | 2 | 1 |
| Fannie Mae Pool #890329 4.00% 4/1/2026<sup>8</sup> |  | 27 | 26 |
| Fannie Mae Pool #MA1109 4.00% 5/1/2027<sup>8</sup> |  | 2 | 2 |
| Fannie Mae Pool #MA3653 3.00% 3/1/2029<sup>8</sup> |  | 13 | 12 |
| Fannie Mae Pool #AL8347 4.00% 3/1/2029<sup>8</sup> |  | 185 | 181 |
| Fannie Mae Pool #254767 5.50% 6/1/2033<sup>8</sup> |  | 208 | 214 |
| Fannie Mae Pool #555956 5.50% 12/1/2033<sup>8</sup> |  | 131 | 135 |
| Fannie Mae Pool #BN1085 4.00% 1/1/2034<sup>8</sup> |  | 411 | 403 |
| Fannie Mae Pool #BN3172 4.00% 1/1/2034<sup>8</sup> |  | 162 | 158 |
| Fannie Mae Pool #929185 5.50% 1/1/2036<sup>8</sup> |  | 383 | 396 |
| Fannie Mae Pool #893641 6.00% 9/1/2036<sup>8</sup> |  | 776 | 811 |
| Fannie Mae Pool #893688 6.00% 10/1/2036<sup>8</sup> |  | 164 | 171 |
| Fannie Mae Pool #AS8554 3.00% 12/1/2036<sup>8</sup> |  | 5967 | 5542 |
| Fannie Mae Pool #907239 6.00% 12/1/2036<sup>8</sup> |  | 54 | 56 |
| Fannie Mae Pool #928031 6.00% 1/1/2037<sup>8</sup> |  | 63 | 65 |
| Fannie Mae Pool #888292 6.00% 3/1/2037<sup>8</sup> |  | 547 | 571 |
| Fannie Mae Pool #AD0249 5.50% 4/1/2037<sup>8</sup> |  | 111 | 114 |

---

130 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #190379 5.50% 5/1/2037<sup>8</sup> | USD | 55 | $57 |
| Fannie Mae Pool #924952 6.00% 8/1/2037<sup>8</sup> |  | 865 | 903 |
| Fannie Mae Pool #888637 6.00% 9/1/2037<sup>8</sup> |  | 10 | 10 |
| Fannie Mae Pool #995674 6.00% 5/1/2038<sup>8</sup> |  | 310 | 324 |
| Fannie Mae Pool #AD0119 6.00% 7/1/2038<sup>8</sup> |  | 938 | 984 |
| Fannie Mae Pool #995224 6.00% 9/1/2038<sup>8</sup> |  | 8 | 8 |
| Fannie Mae Pool #AE0021 6.00% 10/1/2038<sup>8</sup> |  | 286 | 298 |
| Fannie Mae Pool #AL7164 6.00% 10/1/2038<sup>8</sup> |  | 196 | 201 |
| Fannie Mae Pool #889983 6.00% 10/1/2038<sup>8</sup> |  | 18 | 19 |
| Fannie Mae Pool #AD0095 6.00% 11/1/2038<sup>8</sup> |  | 689 | 717 |
| Fannie Mae Pool #AB0538 6.00% 11/1/2038<sup>8</sup> |  | 110 | 114 |
| Fannie Mae Pool #995391 6.00% 11/1/2038<sup>8</sup> |  | 14 | 15 |
| Fannie Mae Pool #AD0833 6.00% 1/1/2039<sup>8</sup> |  | —<sup>5</sup> | —<sup>5</sup> |
| Fannie Mae Pool #AL0309 6.00% 1/1/2040<sup>8</sup> |  | 62 | 65 |
| Fannie Mae Pool #AL0013 6.00% 4/1/2040<sup>8</sup> |  | 182 | 190 |
| Fannie Mae Pool #AL7228 6.00% 4/1/2041<sup>8</sup> |  | 242 | 248 |
| Fannie Mae Pool #AB4536 6.00% 6/1/2041<sup>8</sup> |  | 413 | 428 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041<sup>8</sup> |  | 7655 | 6462 |
| Fannie Mae Pool #MA4501 2.00% 12/1/2041<sup>8</sup> |  | 8791 | 7421 |
| Fannie Mae Pool #FS0305 1.50% 1/1/2042<sup>8</sup> |  | 22809 | 18688 |
| Fannie Mae Pool #MA4520 2.00% 1/1/2042<sup>8</sup> |  | 14931 | 12603 |
| Fannie Mae Pool #AP2131 3.50% 8/1/2042<sup>8</sup> |  | 3155 | 2956 |
| Fannie Mae Pool #AU8813 4.00% 11/1/2043<sup>8</sup> |  | 2218 | 2169 |
| Fannie Mae Pool #AU9348 4.00% 11/1/2043<sup>8</sup> |  | 1262 | 1234 |
| Fannie Mae Pool #AU9350 4.00% 11/1/2043<sup>8</sup> |  | 1052 | 1015 |
| Fannie Mae Pool #AL8773 3.50% 2/1/2045<sup>8</sup> |  | 5278 | 4945 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045<sup>8</sup> |  | 8847 | 8192 |
| Fannie Mae Pool #AL8354 3.50% 10/1/2045<sup>8</sup> |  | 1320 | 1231 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046<sup>8</sup> |  | 2806 | 2610 |
| Fannie Mae Pool #BC7611 4.00% 5/1/2046<sup>8</sup> |  | 113 | 109 |
| Fannie Mae Pool #AS8310 3.00% 11/1/2046<sup>8</sup> |  | 373 | 335 |
| Fannie Mae Pool #BD9307 4.00% 11/1/2046<sup>8</sup> |  | 1322 | 1263 |
| Fannie Mae Pool #BD9699 3.50% 12/1/2046<sup>8</sup> |  | 1482 | 1375 |
| Fannie Mae Pool #BE1290 3.50% 2/1/2047<sup>8</sup> |  | 2160 | 2005 |
| Fannie Mae Pool #BM1179 3.00% 4/1/2047<sup>8</sup> |  | 470 | 421 |
| Fannie Mae Pool #256975 7.00% 10/1/2047<sup>8</sup> |  | 2 | 2 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047<sup>8</sup> |  | 1522 | 1415 |
| Fannie Mae Pool #257036 7.00% 11/1/2047<sup>8</sup> |  | 6 | 7 |
| Fannie Mae Pool #MA3211 4.00% 12/1/2047<sup>8</sup> |  | 2648 | 2535 |
| Fannie Mae Pool #MA3277 4.00% 2/1/2048<sup>8</sup> |  | 11 | 10 |
| Fannie Mae Pool #BK5255 4.00% 5/1/2048<sup>8</sup> |  | 11 | 11 |
| Fannie Mae Pool #FM3278 3.50% 11/1/2048<sup>8</sup> |  | 16898 | 15676 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049<sup>8</sup> |  | 2314 | 2144 |
| Fannie Mae Pool #CA4756 3.00% 12/1/2049<sup>8</sup> |  | 1745 | 1556 |
| Fannie Mae Pool #CA5659 2.50% 5/1/2050<sup>8</sup> |  | 2353 | 1999 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050<sup>8</sup> |  | 5666 | 4869 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050<sup>8</sup> |  | 12778 | 11002 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050<sup>8</sup> |  | 1607 | 1386 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050<sup>8</sup> |  | 14598 | 13142 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051<sup>8</sup> |  | 4022 | 3458 |
| Fannie Mae Pool #CA9291 2.50% 2/1/2051<sup>8</sup> |  | 52 | 44 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051<sup>8</sup> |  | 666 | 565 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051<sup>8</sup> |  | 4822 | 3945 |
| Fannie Mae Pool #FM7741 2.50% 5/1/2051<sup>8</sup> |  | 816 | 693 |
| Fannie Mae Pool #FM8453 3.00% 8/1/2051<sup>8</sup> |  | 4876 | 4347 |
| Fannie Mae Pool #FM8436 2.50% 9/1/2051<sup>8</sup> |  | 45 | 39 |
| Fannie Mae Pool #CB1810 3.00% 10/1/2051<sup>8</sup> |  | 165 | 145 |
| Fannie Mae Pool #BU0616 2.50% 11/1/2051<sup>8</sup> |  | 49 | 42 |
| Fannie Mae Pool #CB2078 3.00% 11/1/2051<sup>8</sup> |  | 9882 | 8696 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051<sup>8</sup> |  | 17352 | 14835 |
| Fannie Mae Pool #CB2402 2.50% 12/1/2051<sup>8</sup> |  | 10959 | 9290 |

---

American Funds Insurance Series 131

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #CB2375 2.50% 12/1/2051<sup>8</sup> | USD | 7995 | $6825 |
| Fannie Mae Pool #BU8372 2.50% 12/1/2051<sup>8</sup> |  | 955 | 812 |
| Fannie Mae Pool #CB2323 2.50% 12/1/2051<sup>8</sup> |  | 947 | 805 |
| Fannie Mae Pool #CB2312 2.50% 12/1/2051<sup>8</sup> |  | 366 | 311 |
| Fannie Mae Pool #CB2319 2.50% 12/1/2051<sup>8</sup> |  | 196 | 168 |
| Fannie Mae Pool #BT9510 2.50% 12/1/2051<sup>8</sup> |  | 94 | 81 |
| Fannie Mae Pool #BT9483 2.50% 12/1/2051<sup>8</sup> |  | 95 | 81 |
| Fannie Mae Pool #CB2372 2.50% 12/1/2051<sup>8</sup> |  | 93 | 80 |
| Fannie Mae Pool #FS0235 2.50% 1/1/2052<sup>8</sup> |  | 12638 | 10713 |
| Fannie Mae Pool #FS0182 3.00% 1/1/2052<sup>8</sup> |  | 13050 | 11488 |
| Fannie Mae Pool #FS0303 3.00% 1/1/2052<sup>8</sup> |  | 978 | 859 |
| Fannie Mae Pool #CB3666 2.50% 2/1/2052<sup>8</sup> |  | 24794 | 21026 |
| Fannie Mae Pool #FS0546 2.50% 2/1/2052<sup>8</sup> |  | 11820 | 10020 |
| Fannie Mae Pool #BV4367 2.50% 2/1/2052<sup>8</sup> |  | 818 | 695 |
| Fannie Mae Pool #FS0613 2.50% 2/1/2052<sup>8</sup> |  | 736 | 625 |
| Fannie Mae Pool #BV9531 2.50% 2/1/2052<sup>8</sup> |  | 721 | 612 |
| Fannie Mae Pool #BU8226 2.50% 2/1/2052<sup>8</sup> |  | 612 | 520 |
| Fannie Mae Pool #BV4259 2.50% 2/1/2052<sup>8</sup> |  | 596 | 507 |
| Fannie Mae Pool #BV3216 2.50% 2/1/2052<sup>8</sup> |  | 487 | 413 |
| Fannie Mae Pool #BU7298 2.50% 2/1/2052<sup>8</sup> |  | 361 | 306 |
| Fannie Mae Pool #BV0307 2.50% 2/1/2052<sup>8</sup> |  | 75 | 63 |
| Fannie Mae Pool #BV3495 2.50% 2/1/2052<sup>8</sup> |  | 64 | 55 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052<sup>8</sup> |  | 67926 | 60633 |
| Fannie Mae Pool #CB2896 3.00% 2/1/2052<sup>8</sup> |  | 7625 | 6703 |
| Fannie Mae Pool #CB5013 2.50% 3/1/2052<sup>8</sup> |  | 3992 | 3392 |
| Fannie Mae Pool #BV6631 2.50% 3/1/2052<sup>8</sup> |  | 921 | 782 |
| Fannie Mae Pool #BV8086 2.50% 3/1/2052<sup>8</sup> |  | 596 | 508 |
| Fannie Mae Pool #BT8111 2.50% 3/1/2052<sup>8</sup> |  | 593 | 503 |
| Fannie Mae Pool #BV4173 2.50% 3/1/2052<sup>8</sup> |  | 525 | 446 |
| Fannie Mae Pool #BU8885 2.50% 3/1/2052<sup>8</sup> |  | 507 | 431 |
| Fannie Mae Pool #FS0831 3.00% 3/1/2052<sup>8</sup> |  | 16034 | 14095 |
| Fannie Mae Pool #CB3170 3.00% 3/1/2052<sup>8</sup> |  | 7000 | 6156 |
| Fannie Mae Pool #CB3410 3.00% 3/1/2052<sup>8</sup> |  | 158 | 139 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052<sup>8</sup> |  | 31872 | 27036 |
| Fannie Mae Pool #BV5332 2.50% 4/1/2052<sup>8</sup> |  | 966 | 820 |
| Fannie Mae Pool #BV4656 2.50% 4/1/2052<sup>8</sup> |  | 873 | 741 |
| Fannie Mae Pool #BV2996 2.50% 4/1/2052<sup>8</sup> |  | 814 | 691 |
| Fannie Mae Pool #CB3351 2.50% 4/1/2052<sup>8</sup> |  | 739 | 628 |
| Fannie Mae Pool #BV4182 2.50% 4/1/2052<sup>8</sup> |  | 730 | 620 |
| Fannie Mae Pool #FS1922 2.50% 4/1/2052<sup>8</sup> |  | 716 | 608 |
| Fannie Mae Pool #BV8569 2.50% 4/1/2052<sup>8</sup> |  | 683 | 580 |
| Fannie Mae Pool #BV7698 2.50% 4/1/2052<sup>8</sup> |  | 620 | 526 |
| Fannie Mae Pool #BV7717 2.50% 4/1/2052<sup>8</sup> |  | 593 | 504 |
| Fannie Mae Pool #BU8933 3.00% 4/1/2052<sup>8</sup> |  | 1825 | 1604 |
| Fannie Mae Pool #CB3364 3.00% 4/1/2052<sup>8</sup> |  | 457 | 402 |
| Fannie Mae Pool #BU8825 2.50% 5/1/2052<sup>8</sup> |  | 1018 | 864 |
| Fannie Mae Pool #BW2204 2.50% 5/1/2052<sup>8</sup> |  | 885 | 752 |
| Fannie Mae Pool #BV9818 2.50% 5/1/2052<sup>8</sup> |  | 790 | 672 |
| Fannie Mae Pool #BW0160 2.50% 5/1/2052<sup>8</sup> |  | 665 | 565 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052<sup>8</sup> |  | 162 | 137 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052<sup>8</sup> |  | 89 | 76 |
| Fannie Mae Pool #FS1877 3.00% 5/1/2052<sup>8</sup> |  | 5704 | 5012 |
| Fannie Mae Pool #BV7238 3.00% 5/1/2052<sup>8</sup> |  | 1886 | 1658 |
| Fannie Mae Pool #CB3495 3.00% 5/1/2052<sup>8</sup> |  | 1867 | 1640 |
| Fannie Mae Pool #BT7819 3.00% 5/1/2052<sup>8</sup> |  | 138 | 121 |
| Fannie Mae Pool #BW1436 4.50% 5/1/2052<sup>8</sup> |  | 3137 | 3023 |
| Fannie Mae Pool #MA4624 3.00% 6/1/2052<sup>8</sup> |  | 1431 | 1257 |
| Fannie Mae Pool #BW2935 3.00% 6/1/2052<sup>8</sup> |  | 747 | 657 |
| Fannie Mae Pool #BW1449 3.00% 6/1/2052<sup>8</sup> |  | 400 | 352 |
| Fannie Mae Pool #BV9701 3.00% 6/1/2052<sup>8</sup> |  | 114 | 100 |
| Fannie Mae Pool #BW5663 4.50% 6/1/2052<sup>8</sup> |  | 2906 | 2800 |

---

132 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #CB4534 4.50% 6/1/2052<sup>8</sup> | USD | 2080 | $2004 |
| Fannie Mae Pool #FS2239 2.50% 7/1/2052<sup>8</sup> |  | 10586 | 8987 |
| Fannie Mae Pool #MA4652 2.50% 7/1/2052<sup>8</sup> |  | 7000 | 5940 |
| Fannie Mae Pool #BV7868 2.50% 7/1/2052<sup>8</sup> |  | 996 | 845 |
| Fannie Mae Pool #BV2584 2.50% 7/1/2052<sup>8</sup> |  | 602 | 510 |
| Fannie Mae Pool #BW5528 2.50% 7/1/2052<sup>8</sup> |  | 525 | 445 |
| Fannie Mae Pool #BW6043 2.50% 7/1/2052<sup>8</sup> |  | 62 | 53 |
| Fannie Mae Pool #BW5579 3.50% 7/1/2052<sup>8</sup> |  | 2000 | 1819 |
| Fannie Mae Pool #CB4159 4.00% 7/1/2052<sup>8</sup> |  | 1519 | 1427 |
| Fannie Mae Pool #FS2555 4.50% 7/1/2052<sup>8</sup> |  | 125 | 120 |
| Fannie Mae Pool #MA4743 2.50% 8/1/2052<sup>8</sup> |  | 6986 | 5925 |
| Fannie Mae Pool #BW7293 3.50% 8/1/2052<sup>8</sup> |  | 3000 | 2729 |
| Fannie Mae Pool #CB4363 3.50% 8/1/2052<sup>8</sup> |  | 960 | 874 |
| Fannie Mae Pool #BV7903 3.50% 8/1/2052<sup>8</sup> |  | 200 | 182 |
| Fannie Mae Pool #BV8024 4.00% 8/1/2052<sup>8</sup> |  | 1924 | 1807 |
| Fannie Mae Pool #BW7302 4.00% 8/1/2052<sup>8</sup> |  | 289 | 272 |
| Fannie Mae Pool #BW4199 4.50% 8/1/2052<sup>8</sup> |  | 2996 | 2887 |
| Fannie Mae Pool #BW3035 4.50% 8/1/2052<sup>8</sup> |  | 2532 | 2440 |
| Fannie Mae Pool #BW5789 4.50% 8/1/2052<sup>8</sup> |  | 999 | 963 |
| Fannie Mae Pool #BW6395 4.50% 8/1/2052<sup>8</sup> |  | 999 | 962 |
| Fannie Mae Pool #BW7349 3.00% 9/1/2052<sup>8</sup> |  | 1886 | 1658 |
| Fannie Mae Pool #BW7780 3.00% 9/1/2052<sup>8</sup> |  | 219 | 192 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052<sup>8</sup> |  | 56336 | 52898 |
| Fannie Mae Pool #BW7326 4.00% 9/1/2052<sup>8</sup> |  | 1648 | 1547 |
| Fannie Mae Pool #BW9348 4.00% 9/1/2052<sup>8</sup> |  | 1429 | 1342 |
| Fannie Mae Pool #BW8103 4.00% 9/1/2052<sup>8</sup> |  | 1353 | 1271 |
| Fannie Mae Pool #MA4733 4.50% 9/1/2052<sup>8</sup> |  | 12197 | 11752 |
| Fannie Mae Pool #BV0957 4.50% 9/1/2052<sup>8</sup> |  | 3075 | 2962 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052<sup>8</sup> |  | 2185 | 2105 |
| Fannie Mae Pool #BW1201 5.00% 9/1/2052<sup>8</sup> |  | 2361 | 2331 |
| Fannie Mae Pool #MA4824 2.50% 10/1/2052<sup>8</sup> |  | 94 | 80 |
| Fannie Mae Pool #MA4782 3.50% 10/1/2052<sup>8</sup> |  | 3000 | 2729 |
| Fannie Mae Pool #BW8980 4.00% 10/1/2052<sup>8</sup> |  | 5340 | 5014 |
| Fannie Mae Pool #BW1210 4.00% 10/1/2052<sup>8</sup> |  | 4034 | 3788 |
| Fannie Mae Pool #BW7356 4.00% 10/1/2052<sup>8</sup> |  | 3356 | 3151 |
| Fannie Mae Pool #BX0509 4.00% 10/1/2052<sup>8</sup> |  | 1444 | 1356 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>8</sup> |  | 14120 | 13605 |
| Fannie Mae Pool #CB4959 4.50% 10/1/2052<sup>8</sup> |  | 9275 | 8936 |
| Fannie Mae Pool #BV0961 4.50% 10/1/2052<sup>8</sup> |  | 3995 | 3849 |
| Fannie Mae Pool #BW8981 4.50% 10/1/2052<sup>8</sup> |  | 2309 | 2224 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052<sup>8</sup> |  | 998 | 962 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052<sup>8</sup> |  | 3500 | 3455 |
| Fannie Mae Pool #MA4887 2.50% 11/1/2052<sup>8</sup> |  | 1448 | 1228 |
| Fannie Mae Pool #MA4854 2.50% 11/1/2052<sup>8</sup> |  | 902 | 765 |
| Fannie Mae Pool #BW1309 2.50% 11/1/2052<sup>8</sup> |  | 813 | 690 |
| Fannie Mae Pool #MA4885 3.00% 11/1/2052<sup>8</sup> |  | 801 | 704 |
| Fannie Mae Pool #FS3279 3.50% 11/1/2052<sup>8</sup> |  | 9999 | 9099 |
| Fannie Mae Pool #MA4803 3.50% 11/1/2052<sup>8</sup> |  | 1000 | 910 |
| Fannie Mae Pool #MA4804 4.00% 11/1/2052<sup>8</sup> |  | 6621 | 6217 |
| Fannie Mae Pool #BW1310 4.00% 11/1/2052<sup>8</sup> |  | 1509 | 1417 |
| Fannie Mae Pool #BX3075 4.50% 11/1/2052<sup>8</sup> |  | 2973 | 2865 |
| Fannie Mae Pool #MA4911 3.00% 12/1/2052<sup>8</sup> |  | 650 | 571 |
| Fannie Mae Pool #MA4838 3.50% 12/1/2052<sup>8</sup> |  | 4500 | 4093 |
| Fannie Mae Pool #MA4839 4.00% 12/1/2052<sup>8</sup> |  | 4000 | 3756 |
| Fannie Mae Pool #MA4841 5.00% 12/1/2052<sup>8</sup> |  | 6256 | 6175 |
| Fannie Mae Pool #MA4877 6.50% 12/1/2052<sup>8</sup> |  | 1000 | 1026 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>8</sup> |  | 7999 | 7896 |
| Fannie Mae Pool #BX4609 5.00% 1/1/2053<sup>8</sup> |  | 1277 | 1261 |
| Fannie Mae Pool #MA4869 5.50% 1/1/2053<sup>8</sup> |  | 100 | 100 |
| Fannie Mae Pool #MA4895 6.50% 1/1/2053<sup>8</sup> |  | 7427 | 7618 |
| Fannie Mae Pool #BM6736 4.50% 11/1/2059<sup>8</sup> |  | 11696 | 11413 |

---

American Funds Insurance Series 133

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060<sup>8</sup> | USD | 4130 | $3619 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041<sup>8</sup> |  | 24 | 26 |
| Fannie Mae, Series 2001-T10, Class A1, 7.00% 12/25/2041<sup>8</sup> |  | 84 | 86 |
| Fannie Mae, Series 2014-M1, Class A2, Multi Family, 3.298% 7/25/2023<sup>8,9</sup> |  | 1660 | 1644 |
| Fannie Mae, Series 2014-M2, Class A2, Multi Family, 3.513% 12/25/2023<sup>8,9</sup> |  | 1909 | 1877 |
| Fannie Mae, Series 2014-M3, Class A2, Multi Family, 3.501% 1/25/2024<sup>8,9</sup> |  | 1338 | 1314 |
| Fannie Mae, Series 2014-M9, Class A2, Multi Family, 3.103% 7/25/2024<sup>8,9</sup> |  | 3273 | 3169 |
| Fannie Mae, Series 2017-M3, Class A2, Multi Family, 2.471% 12/25/2026<sup>8,9</sup> |  | 7323 | 6758 |
| Fannie Mae, Series 2017-M7, Class A2, Multi Family, 2.961% 2/25/2027<sup>8,9</sup> |  | 2602 | 2446 |
| Fannie Mae, Series 2006-43, Class JO, principal only, 0% 6/25/2036<sup>8</sup> |  | 39 | 32 |
| Freddie Mac Pool #C91912 3.00% 2/1/2037<sup>8</sup> |  | 11022 | 10254 |
| Freddie Mac Pool #G03978 5.00% 3/1/2038<sup>8</sup> |  | 420 | 429 |
| Freddie Mac Pool #G04553 6.50% 9/1/2038<sup>8</sup> |  | 48 | 51 |
| Freddie Mac Pool #G08347 4.50% 6/1/2039<sup>8</sup> |  | 67 | 67 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040<sup>8</sup> |  | 572 | 580 |
| Freddie Mac Pool #Q05807 4.00% 1/1/2042<sup>8</sup> |  | 1648 | 1586 |
| Freddie Mac Pool #Q23185 4.00% 11/1/2043<sup>8</sup> |  | 1303 | 1275 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043<sup>8</sup> |  | 758 | 732 |
| Freddie Mac Pool #760014 2.74% 8/1/2045<sup>8,9</sup> |  | 179 | 173 |
| Freddie Mac Pool #Q37988 4.00% 12/1/2045<sup>8</sup> |  | 5730 | 5510 |
| Freddie Mac Pool #G60344 4.00% 12/1/2045<sup>8</sup> |  | 4930 | 4740 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046<sup>8</sup> |  | 4452 | 4029 |
| Freddie Mac Pool #Q41090 4.50% 6/1/2046<sup>8</sup> |  | 204 | 200 |
| Freddie Mac Pool #Q41909 4.50% 7/1/2046<sup>8</sup> |  | 242 | 238 |
| Freddie Mac Pool #760015 2.561% 1/1/2047<sup>8,9</sup> |  | 444 | 420 |
| Freddie Mac Pool #Q46021 3.50% 2/1/2047<sup>8</sup> |  | 1150 | 1068 |
| Freddie Mac Pool #SI2002 4.00% 3/1/2048<sup>8</sup> |  | 2336 | 2234 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050<sup>8</sup> |  | 33078 | 27081 |
| Freddie Mac Pool #SD7528 2.00% 11/1/2050<sup>8</sup> |  | 17984 | 14872 |
| Freddie Mac Pool #QC2344 2.50% 4/1/2051<sup>8</sup> |  | 966 | 821 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051<sup>8</sup> |  | 30665 | 25100 |
| Freddie Mac Pool #SD8151 2.50% 6/1/2051<sup>8</sup> |  | 330 | 281 |
| Freddie Mac Pool #RA5782 2.50% 9/1/2051<sup>8</sup> |  | 10333 | 8855 |
| Freddie Mac Pool #SD7545 2.50% 9/1/2051<sup>8</sup> |  | 7074 | 6091 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051<sup>8</sup> |  | 2039 | 1728 |
| Freddie Mac Pool #QC7910 2.50% 9/1/2051<sup>8</sup> |  | 931 | 795 |
| Freddie Mac Pool #QC6921 2.50% 9/1/2051<sup>8</sup> |  | 911 | 774 |
| Freddie Mac Pool #RA5971 3.00% 9/1/2051<sup>8</sup> |  | 6901 | 6123 |
| Freddie Mac Pool #QC6456 3.00% 9/1/2051<sup>8</sup> |  | 701 | 616 |
| Freddie Mac Pool #RA6107 2.50% 10/1/2051<sup>8</sup> |  | 5385 | 4568 |
| Freddie Mac Pool #QC8778 2.50% 10/1/2051<sup>8</sup> |  | 462 | 392 |
| Freddie Mac Pool #QC9156 2.50% 10/1/2051<sup>8</sup> |  | 327 | 278 |
| Freddie Mac Pool #QC7814 2.50% 10/1/2051<sup>8</sup> |  | 27 | 23 |
| Freddie Mac Pool #RA6231 2.50% 11/1/2051<sup>8</sup> |  | 1993 | 1690 |
| Freddie Mac Pool #QC9944 2.50% 11/1/2051<sup>8</sup> |  | 1474 | 1251 |
| Freddie Mac Pool #QD1746 2.50% 11/1/2051<sup>8</sup> |  | 933 | 792 |
| Freddie Mac Pool #QC9788 2.50% 11/1/2051<sup>8</sup> |  | 930 | 790 |
| Freddie Mac Pool #QD1523 2.50% 11/1/2051<sup>8</sup> |  | 218 | 185 |
| Freddie Mac Pool #RA6483 2.50% 12/1/2051<sup>8</sup> |  | 6952 | 5934 |
| Freddie Mac Pool #RA7081 2.50% 12/1/2051<sup>8</sup> |  | 2698 | 2288 |
| Freddie Mac Pool #QD3362 2.50% 12/1/2051<sup>8</sup> |  | 854 | 725 |
| Freddie Mac Pool #RA6433 2.50% 12/1/2051<sup>8</sup> |  | 43 | 37 |
| Freddie Mac Pool #RA6485 3.00% 12/1/2051<sup>8</sup> |  | 1935 | 1701 |
| Freddie Mac Pool #RA6428 3.00% 12/1/2051<sup>8</sup> |  | 420 | 369 |
| Freddie Mac Pool #SD0853 2.50% 1/1/2052<sup>8</sup> |  | 5650 | 4790 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052<sup>8</sup> |  | 2429 | 2077 |
| Freddie Mac Pool #SD0854 2.50% 1/1/2052<sup>8</sup> |  | 1987 | 1688 |
| Freddie Mac Pool #RA6615 2.50% 1/1/2052<sup>8</sup> |  | 600 | 510 |
| Freddie Mac Pool #QD5254 2.50% 1/1/2052<sup>8</sup> |  | 597 | 507 |
| Freddie Mac Pool #SD8194 2.50% 2/1/2052<sup>8</sup> |  | 642 | 545 |
| Freddie Mac Pool #QD9066 2.50% 2/1/2052<sup>8</sup> |  | 501 | 426 |

---

134 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #QD6379 2.50% 2/1/2052<sup>8</sup> | USD | 97 | $83 |
| Freddie Mac Pool #QD6971 2.50% 2/1/2052<sup>8</sup> |  | 63 | 54 |
| Freddie Mac Pool #QD7312 2.50% 2/1/2052<sup>8</sup> |  | 32 | 27 |
| Freddie Mac Pool #RA6806 3.00% 2/1/2052<sup>8</sup> |  | 2000 | 1758 |
| Freddie Mac Pool #QD6948 3.00% 2/1/2052<sup>8</sup> |  | 1906 | 1676 |
| Freddie Mac Pool #RA6608 3.00% 2/1/2052<sup>8</sup> |  | 954 | 838 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052<sup>8</sup> |  | 1195 | 1089 |
| Freddie Mac Pool #QD8976 2.50% 3/1/2052<sup>8</sup> |  | 952 | 809 |
| Freddie Mac Pool #QE0957 2.50% 3/1/2052<sup>8</sup> |  | 875 | 743 |
| Freddie Mac Pool #RA6959 2.50% 3/1/2052<sup>8</sup> |  | 766 | 651 |
| Freddie Mac Pool #QE0615 2.50% 3/1/2052<sup>8</sup> |  | 606 | 515 |
| Freddie Mac Pool #SD8200 2.50% 3/1/2052<sup>8</sup> |  | 437 | 371 |
| Freddie Mac Pool #QD8152 2.50% 3/1/2052<sup>8</sup> |  | 367 | 312 |
| Freddie Mac Pool #QD8673 3.00% 3/1/2052<sup>8</sup> |  | 1542 | 1356 |
| Freddie Mac Pool #RA6992 3.00% 3/1/2052<sup>8</sup> |  | 1097 | 964 |
| Freddie Mac Pool #SD8205 2.50% 4/1/2052<sup>8</sup> |  | 6581 | 5582 |
| Freddie Mac Pool #QD9911 2.50% 4/1/2052<sup>8</sup> |  | 2676 | 2269 |
| Freddie Mac Pool #QE0800 2.50% 4/1/2052<sup>8</sup> |  | 2628 | 2231 |
| Freddie Mac Pool #QE0170 2.50% 4/1/2052<sup>8</sup> |  | 1711 | 1451 |
| Freddie Mac Pool #QE3079 2.50% 4/1/2052<sup>8</sup> |  | 932 | 792 |
| Freddie Mac Pool #QD9907 2.50% 4/1/2052<sup>8</sup> |  | 850 | 722 |
| Freddie Mac Pool #QE0407 2.50% 4/1/2052<sup>8</sup> |  | 769 | 653 |
| Freddie Mac Pool #QE5290 2.50% 4/1/2052<sup>8</sup> |  | 740 | 628 |
| Freddie Mac Pool #QE0025 2.50% 4/1/2052<sup>8</sup> |  | 549 | 466 |
| Freddie Mac Pool #QE0799 2.50% 4/1/2052<sup>8</sup> |  | 123 | 105 |
| Freddie Mac Pool #SD7554 2.50% 4/1/2052<sup>8</sup> |  | 94 | 80 |
| Freddie Mac Pool #QE2101 2.50% 4/1/2052<sup>8</sup> |  | 45 | 38 |
| Freddie Mac Pool #SD8206 3.00% 4/1/2052<sup>8</sup> |  | 800 | 703 |
| Freddie Mac Pool #RA7063 3.50% 4/1/2052<sup>8</sup> |  | 22000 | 20028 |
| Freddie Mac Pool #QE2352 2.50% 5/1/2052<sup>8</sup> |  | 40 | 34 |
| Freddie Mac Pool #QE1793 3.00% 5/1/2052<sup>8</sup> |  | 1910 | 1679 |
| Freddie Mac Pool #QE3080 3.00% 5/1/2052<sup>8</sup> |  | 400 | 351 |
| Freddie Mac Pool #RA7386 3.50% 5/1/2052<sup>8</sup> |  | 7332 | 6669 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052<sup>8</sup> |  | 4451 | 3913 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052<sup>8</sup> |  | 2336 | 2193 |
| Freddie Mac Pool #QE6097 2.50% 7/1/2052<sup>8</sup> |  | 83 | 71 |
| Freddie Mac Pool #QE5714 3.50% 7/1/2052<sup>8</sup> |  | 4000 | 3639 |
| Freddie Mac Pool #QE6274 3.50% 7/1/2052<sup>8</sup> |  | 4000 | 3638 |
| Freddie Mac Pool #SD8226 3.50% 7/1/2052<sup>8</sup> |  | 2667 | 2426 |
| Freddie Mac Pool #QE5983 3.50% 7/1/2052<sup>8</sup> |  | 2000 | 1819 |
| Freddie Mac Pool #QE7680 4.50% 7/1/2052<sup>8</sup> |  | 2533 | 2441 |
| Freddie Mac Pool #RA7747 2.50% 8/1/2052<sup>8</sup> |  | 2681 | 2273 |
| Freddie Mac Pool #QE8026 2.50% 8/1/2052<sup>8</sup> |  | 1675 | 1421 |
| Freddie Mac Pool #SD8234 2.50% 8/1/2052<sup>8</sup> |  | 32 | 27 |
| Freddie Mac Pool #RA7749 3.50% 8/1/2052<sup>8</sup> |  | 13390 | 12181 |
| Freddie Mac Pool #QE9057 4.00% 8/1/2052<sup>8</sup> |  | 1231 | 1156 |
| Freddie Mac Pool #QE7157 4.00% 8/1/2052<sup>8</sup> |  | 224 | 210 |
| Freddie Mac Pool #SD1576 5.00% 8/1/2052<sup>8</sup> |  | 3206 | 3165 |
| Freddie Mac Pool #SD8262 2.50% 9/1/2052<sup>8</sup> |  | 9650 | 8185 |
| Freddie Mac Pool #QF0923 2.50% 9/1/2052<sup>8</sup> |  | 597 | 506 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052<sup>8</sup> |  | 17971 | 15797 |
| Freddie Mac Pool #SD8243 3.50% 9/1/2052<sup>8</sup> |  | 4039 | 3675 |
| Freddie Mac Pool #SD8244 4.00% 9/1/2052<sup>8</sup> |  | 4000 | 3756 |
| Freddie Mac Pool #QE9625 4.00% 9/1/2052<sup>8</sup> |  | 1586 | 1489 |
| Freddie Mac Pool #QF0152 4.50% 9/1/2052<sup>8</sup> |  | 1531 | 1475 |
| Freddie Mac Pool #SD8246 5.00% 9/1/2052<sup>8</sup> |  | 79771 | 78743 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052<sup>8</sup> |  | 1321 | 1304 |
| Freddie Mac Pool #QF1751 2.50% 10/1/2052<sup>8</sup> |  | 946 | 803 |
| Freddie Mac Pool #SD8271 2.50% 10/1/2052<sup>8</sup> |  | 579 | 491 |
| Freddie Mac Pool #QF1464 4.00% 10/1/2052<sup>8</sup> |  | 1521 | 1429 |
| Freddie Mac Pool #QF1489 4.00% 10/1/2052<sup>8</sup> |  | 1281 | 1203 |

---

American Funds Insurance Series 135

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052<sup>8</sup> | USD | 1000 | $939 |
| Freddie Mac Pool #QF1925 4.00% 10/1/2052<sup>8</sup> |  | 1000 | 939 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052<sup>8</sup> |  | 53823 | 51858 |
| Freddie Mac Pool #QF3304 5.00% 10/1/2052<sup>8</sup> |  | 3694 | 3646 |
| Freddie Mac Pool #SD8291 2.50% 11/1/2052<sup>8</sup> |  | 855 | 725 |
| Freddie Mac Pool #SD8283 2.50% 11/1/2052<sup>8</sup> |  | 634 | 538 |
| Freddie Mac Pool #SD8273 3.50% 11/1/2052<sup>8</sup> |  | 4000 | 3639 |
| Freddie Mac Pool #SD8264 3.50% 11/1/2052<sup>8</sup> |  | 4000 | 3639 |
| Freddie Mac Pool #QF3364 4.00% 11/1/2052<sup>8</sup> |  | 2477 | 2326 |
| Freddie Mac Pool #SD8265 4.00% 11/1/2052<sup>8</sup> |  | 251 | 235 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052<sup>8</sup> |  | 4 | 3 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>8</sup> |  | 1295 | 1248 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052<sup>8</sup> |  | 6999 | 6909 |
| Freddie Mac Pool #SD8281 6.50% 12/1/2052<sup>8</sup> |  | 14617 | 14994 |
| Freddie Mac Pool #SD8284 3.00% 1/1/2053<sup>8</sup> |  | 11360 | 9985 |
| Freddie Mac Pool #SD8285 3.50% 1/1/2053<sup>8</sup> |  | 5499 | 5003 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053<sup>8</sup> |  | 336 | 315 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>8</sup> |  | 3778 | 3729 |
| Freddie Mac Pool #SD8282 6.50% 1/1/2053<sup>8</sup> |  | 706 | 724 |
| Freddie Mac, Series T041, Class 3A, 4.402% 7/25/2032<sup>8,9</sup> |  | 187 | 179 |
| Freddie Mac, Series K733, Class A2, Multi Family, 3.75% 8/25/2025<sup>8,9</sup> |  | 9778 | 9538 |
| Freddie Mac, Series K734, Class A2, Multi Family, 3.208% 2/25/2026<sup>8</sup> |  | 7370 | 7077 |
| Freddie Mac, Series K076, Class A2, Multi Family, 3.90% 4/25/2028<sup>8</sup> |  | 3237 | 3158 |
| Freddie Mac, Series K143, Class A2, Multi Family, 2.35% 6/25/2032<sup>8</sup> |  | 19961 | 16758 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056<sup>8,9</sup> |  | 2646 | 2476 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 7/25/2056<sup>8,9</sup> |  | 1149 | 1082 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056<sup>8</sup> |  | 5121 | 4758 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056<sup>8,9</sup> |  | 5074 | 4744 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057<sup>8,9</sup> |  | 911 | 831 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057<sup>8</sup> |  | 755 | 684 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057<sup>8</sup> |  | 1823 | 1730 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057<sup>8</sup> |  | 1942 | 1757 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058<sup>8</sup> |  | 9501 | 8965 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059<sup>8</sup> |  | 5448 | 5052 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028<sup>8</sup> |  | 2154 | 2056 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 5/25/2029<sup>8</sup> |  | 4272 | 4072 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A2, 3.50% 5/25/2029<sup>8</sup> |  | 2455 | 2255 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029<sup>8</sup> |  | 2682 | 2465 |
| Government National Mortgage Assn. 2.00% 1/1/2053<sup>8,10</sup> |  | 68784 | 57662 |
| Government National Mortgage Assn. 2.50% 1/1/2053<sup>8,10</sup> |  | 5866 | 5085 |
| Government National Mortgage Assn. 3.00% 1/1/2053<sup>8,10</sup> |  | 83663 | 74514 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>8,10</sup> |  | 16502 | 15165 |
| Government National Mortgage Assn. 4.00% 1/1/2053<sup>8,10</sup> |  | 3200 | 3029 |
| Government National Mortgage Assn. 4.50% 1/1/2053<sup>8,10</sup> |  | 33456 | 32460 |
| Government National Mortgage Assn. Pool #BD7245 4.00% 1/20/2048<sup>8</sup> |  | 437 | 417 |
| Government National Mortgage Assn. Pool #MA5652 4.50% 12/20/2048<sup>8</sup> |  | 342 | 332 |
| Government National Mortgage Assn. Pool #MA6602 4.50% 4/20/2050<sup>8</sup> |  | 204 | 200 |

---

136 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Government National Mortgage Assn. Pool #MA7259 4.50% 3/20/2051<sup>8</sup> | USD | 1762 | $1734 |
| Government National Mortgage Assn. Pool #MA7316 4.50% 4/20/2051<sup>8</sup> |  | 490 | 482 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052<sup>8</sup> |  | 1260 | 1193 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052<sup>8</sup> |  | 10566 | 10009 |
| Government National Mortgage Assn. Pool #MA8488 4.00% 12/20/2052<sup>8</sup> |  | 1000 | 947 |
| Uniform Mortgage-Backed Security 1.50% 1/1/2038<sup>8,10</sup> |  | 25420 | 22012 |
| Uniform Mortgage-Backed Security 2.50% 1/1/2038<sup>8,10</sup> |  | 638 | 584 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2053<sup>8,10</sup> |  | 108193 | 88062 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2053<sup>8,10</sup> |  | 7100 | 6660 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2053<sup>8,10</sup> |  | 9560 | 9203 |
| Uniform Mortgage-Backed Security 5.00% 1/1/2053<sup>8,10</sup> |  | 4884 | 4813 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>8,10</sup> |  | 60890 | 61059 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2053<sup>8,10</sup> |  | 12770 | 12962 |
| Uniform Mortgage-Backed Security 4.00% 2/1/2053<sup>8,10</sup> |  | 15948 | 14963 |
| Uniform Mortgage-Backed Security 5.00% 2/1/2053<sup>8,10</sup> |  | 35408 | 34891 |
| Uniform Mortgage-Backed Security 5.50% 2/1/2053<sup>8,10</sup> |  | 16800 | 16838 |
| Uniform Mortgage-Backed Security 6.00% 2/1/2053<sup>8,10</sup> |  | 36230 | 36745 |
|  |  |  | **1739465** |
| **Commercial mortgage-backed securities 0.44%** |  |  |  |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063<sup>8</sup> |  | 2909 | 2435 |
| Bank Commercial Mortgage Trust, Series 2022-BNK40, Class A4, 3.394% 3/15/2064<sup>8,9</sup> |  | 2550 | 2246 |
| Barclays Commercial Mortgage Securities, LLC, Series 2017-DELC, Class A, 5.293% 8/15/2036<sup>6,8,9</sup> |  | 2000 | 1966 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/2051<sup>8</sup> |  | 1000 | 927 |
| Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 3/15/2053<sup>8</sup> |  | 2960 | 2466 |
| BX Trust, Series 2021-SDMF, Class A, (1-month USD-LIBOR + 0.589%) 4.907% 9/15/2034<sup>6,8,9</sup> |  | 5954 | 5711 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 5.018% 9/15/2036<sup>6,8,9</sup> |  | 4505 | 4346 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 5.217% 10/15/2036<sup>6,8,9</sup> |  | 7968 | 7593 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD-LIBOR + 1.297%) 5.615% 10/15/2036<sup>6,8,9</sup> |  | 5968 | 5613 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD-LIBOR + 0.67%) 4.988% 6/15/2038<sup>6,8,9</sup> |  | 7481 | 7216 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD-LIBOR + 0.87%) 5.188% 6/15/2038<sup>6,8,9</sup> |  | 1351 | 1290 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD-LIBOR + 1.10%) 5.418% 6/15/2038<sup>6,8,9</sup> |  | 1220 | 1156 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD-LIBOR + 0.85%) 5.168% 11/15/2038<sup>6,8,9</sup> |  | 5254 | 5063 |
| Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class AAB, 2.984% 4/10/2048<sup>8</sup> |  | 470 | 459 |
| Commercial Mortgage Trust, Series 2015-PC1, Class A5, 3.902% 7/10/2050<sup>8</sup> |  | 4735 | 4540 |
| CSAIL Commercial Mortgage Trust, Series 2015-C4, Class ASB, 3.617% 11/15/2048<sup>8</sup> |  | 780 | 758 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD-LIBOR + 1.08%) 5.398% 7/15/2038<sup>6,8,9</sup> |  | 1537 | 1495 |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD-LIBOR + 1.38%) 5.698% 7/15/2038<sup>6,8,9</sup> |  | 1403 | 1351 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD-LIBOR + 1.70%) 6.018% 7/15/2038<sup>6,8,9</sup> |  | 1465 | 1410 |
| Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/2040<sup>6,8</sup> |  | 3795 | 2918 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053<sup>8</sup> |  | 2489 | 2059 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039<sup>6,8</sup> |  | 1964 | 1682 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/2039<sup>6,8</sup> |  | 868 | 708 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% 1/5/2039<sup>6,8,9</sup> |  | 523 | 407 |

---

American Funds Insurance Series 137

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Commercial mortgage-backed securities (continued)** |  |  |  |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2021-410T, Class A, 2.287% 3/5/2042<sup>6,8</sup> | USD | 1431 | $1171 |
| LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A, (1-month USD-LIBOR + 1.05%) 5.368% 10/15/2038<sup>6,8,9</sup> |  | 1236 | 1184 |
| LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class B, (1-month USD-LIBOR + 1.40%) 5.718% 10/15/2038<sup>6,8,9</sup> |  | 1904 | 1803 |
| Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/2039<sup>6,8</sup> |  | 13772 | 11780 |
| MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD-LIBOR + 0.801%) 5.119% 4/15/2026<sup>6,8,9</sup> |  | 3950 | 3837 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class ASB, 3.557% 12/15/2047<sup>8</sup> |  | 556 | 541 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class ASB, 3.04% 4/15/2048<sup>8</sup> |  | 467 | 454 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041<sup>6,8</sup> |  | 2194 | 1756 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD-LIBOR + 0.731%) 5.049% 11/15/2038<sup>6,8,9</sup> |  | 4808 | 4631 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + 1.00%) 5.336% 1/15/2039<sup>6,8,9</sup> |  | 10709 | 10352 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) 7.125% 11/15/2027<sup>6,8,9</sup> |  | 6379 | 6373 |
|  |  |  | **109697** |
| **Collateralized mortgage-backed obligations (privately originated) 0.12%** |  |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048<sup>6,8,9</sup> |  | 1101 | 870 |
| Bellemeade Re, Ltd., Series 2019-3A, Class M1B, (1-month USD-LIBOR + 1.60%) 5.989% 7/25/2029<sup>6,8,9</sup> |  | 496 | 496 |
| Cascade Funding Mortgage Trust, Series 2018-RM2, Class A, 4.00% 10/25/2068<sup>6,8,9</sup> |  | 1181 | 1140 |
| Connecticut Avenue Securities Trust, Series 2021-R01, Class 1M1, (30-day Average USD-SOFR + 0.75%) 4.678% 10/25/2041<sup>6,8,9</sup> |  | 192 | 190 |
| Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 8/15/2037<sup>6,8</sup> |  | 4096 | 3664 |
| Credit Suisse Mortgage Trust, Series 2017-RPL3, Class A1, 2.00% 1/25/2060<sup>6,8,9</sup> |  | 2081 | 1788 |
| CS First Boston Mortgage Securities Corp., Series 2004-5, Class IVA1, 6.00% 9/25/2034<sup>8</sup> |  | 148 | 141 |
| Finance of America Structured Securities Trust, Series 2019-JR1, Class A, 2.00% 3/25/2069<sup>6,8</sup> |  | 2051 | 2196 |
| Finance of America Structured Securities Trust, Series 2019-JR2, Class A1, 2.00% 6/25/2069<sup>6,8</sup> |  | 6250 | 6425 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA1, Class M3, (1-month USD-LIBOR + 3.30%) 7.689% 10/25/2027<sup>8,9</sup> |  | 235 | 237 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average USD-SOFR + 2.15%) 6.078% 9/25/2042<sup>6,8,9</sup> |  | 996 | 998 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026<sup>6,8</sup> |  | 4304 | 3724 |
| Legacy Mortgage Asset Trust, Series 2019-GS7, Class A1, 6.25% 11/25/2059<sup>6,8,9</sup> |  | 1042 | 1042 |
| MASTR Alternative Loan Trust, Series 2004-2, Class 2A1, 6.00% 2/25/2034<sup>8</sup> |  | 314 | 300 |
| Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 5.239% 11/25/2055<sup>6,8,9</sup> |  | 4040 | 3909 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2022-J1, Class A2, 2.50% 2/25/2052<sup>6,8,9</sup> |  | 2784 | 2248 |
| RMF Proprietary Issuance Trust, Series 2019-1, Class A, 2.75% 10/25/2063<sup>6,8,9</sup> |  | 355 | 328 |
|  |  |  | **29696** |
| **Total mortgage-backed obligations** |  |  | **1878858** |
| **U.S. Treasury bonds & notes 6.52%** |  |  |  |
| **U.S. Treasury 4.53%** |  |  |  |
| U.S. Treasury 0.125% 2/28/2023 |  | 44825 | 44537 |
| U.S. Treasury 2.50% 5/15/2024 |  | 700 | 679 |
| U.S. Treasury 2.50% 5/31/2024 |  | 100000 | 97016 |
| U.S. Treasury 3.25% 8/31/2024 |  | 22613 | 22143 |
| U.S. Treasury 1.50% 9/30/2024 |  | 907 | 862 |
| U.S. Treasury 4.50% 11/30/2024 |  | 760 | 760 |

---

138 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury (continued)** |  |  |  |
| U.S. Treasury 1.00% 12/15/2024 | USD | 10725 | $10038 |
| U.S. Treasury 3.00% 7/15/2025 |  | 3165 | 3066 |
| U.S. Treasury 4.00% 12/15/2025 |  | 32029 | 31829 |
| U.S. Treasury 0.375% 1/31/2026 |  | 45000 | 40052 |
| U.S. Treasury 0.50% 2/28/2026 |  | 42515 | 37903 |
| U.S. Treasury 1.625% 5/15/2026 |  | 1500 | 1381 |
| U.S. Treasury 1.50% 8/15/2026 |  | 500 | 456 |
| U.S. Treasury 0.75% 8/31/2026 |  | 52 | 46 |
| U.S. Treasury 0.875% 9/30/2026 |  | 565 | 502 |
| U.S. Treasury 1.125% 10/31/2026 |  | 471 | 421 |
| U.S. Treasury 1.125% 2/28/2027 |  | 762 | 678 |
| U.S. Treasury 2.375% 5/15/2027 |  | 880 | 820 |
| U.S. Treasury 2.625% 5/31/2027 |  | 96250 | 90738 |
| U.S. Treasury 0.50% 6/30/2027 |  | 36300 | 31057 |
| U.S. Treasury 4.125% 9/30/2027 |  | 90000 | 90345 |
| U.S. Treasury 3.875% 11/30/2027 |  | 39923 | 39707 |
| U.S. Treasury 0.625% 12/31/2027 |  | 7109 | 6025 |
| U.S. Treasury 2.875% 5/15/2028 |  | 5217 | 4926 |
| U.S. Treasury 1.25% 9/30/2028 |  | 3142 | 2699 |
| U.S. Treasury 1.50% 11/30/2028 |  | 50000 | 43417 |
| U.S. Treasury 1.375% 12/31/2028 |  | 10900 | 9398 |
| U.S. Treasury 2.875% 4/30/2029 |  | 50000 | 46843 |
| U.S. Treasury 3.875% 11/30/2029 |  | 1662 | 1651 |
| U.S. Treasury 1.50% 2/15/2030 |  | 36651 | 31236 |
| U.S. Treasury 0.625% 5/15/2030 |  | 20225 | 16012 |
| U.S. Treasury 2.875% 5/15/2032 |  | 50000 | 46102 |
| U.S. Treasury 4.125% 11/15/2032 |  | 96356 | 98276 |
| U.S. Treasury 1.125% 5/15/2040 |  | 62775 | 39393 |
| U.S. Treasury 1.375% 11/15/2040 |  | 52695 | 34328 |
| U.S. Treasury 1.75% 8/15/2041 |  | 47854 | 32834 |
| U.S. Treasury 2.00% 11/15/2041 |  | 1181 | 846 |
| U.S. Treasury 4.00% 11/15/2042 |  | 21751 | 21312 |
| U.S. Treasury 2.50% 2/15/2046 |  | 3755 | 2822 |
| U.S. Treasury 3.00% 5/15/2047 |  | 9355 | 7690 |
| U.S. Treasury 3.00% 2/15/2048 |  | 336 | 277 |
| U.S. Treasury 2.00% 2/15/2050 |  | 13825 | 9184 |
| U.S. Treasury 1.375% 8/15/2050 |  | 12500 | 6993 |
| U.S. Treasury 2.375% 5/15/2051 |  | 4757 | 3430 |
| U.S. Treasury 2.00% 8/15/2051 |  | 1356 | 893 |
| U.S. Treasury 2.25% 2/15/2052<sup>11</sup> |  | 72025 | 50351 |
| U.S. Treasury 3.00% 8/15/2052<sup>11</sup> |  | 73627 | 61049 |
|  |  |  | **1123023** |
| **U.S. Treasury inflation-protected securities 1.99%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.50% 4/15/2024<sup>12</sup> |  | 22067 | 21475 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>12</sup> |  | 76769 | 74363 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>12</sup> |  | 98718 | 95142 |
| U.S. Treasury Inflation-Protected Security 0.25% 1/15/2025<sup>12</sup> |  | 25161 | 24151 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025<sup>12</sup> |  | 4649 | 4467 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025<sup>12</sup> |  | 3905 | 3711 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2026<sup>12</sup> |  | 43574 | 40962 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026<sup>12</sup> |  | 15266 | 14319 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2027<sup>12</sup> |  | 50295 | 50231 |
| U.S. Treasury Inflation-Protected Security 0.75% 7/15/2028<sup>12</sup> |  | 20774 | 19790 |
| U.S. Treasury Inflation-Protected Security 0.875% 1/15/2029<sup>12</sup> |  | 23419 | 22309 |

---

American Funds Insurance Series 139

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury inflation-protected securities (continued)** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031<sup>12</sup> | USD | 27071 | $24019 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2032<sup>12</sup> |  | 60545 | 52974 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049<sup>12</sup> |  | 55158 | 46174 |
|  |  |  | **494087** |
| **Total U.S. Treasury bonds & notes** |  |  | **1617110** |
| **Corporate bonds, notes & loans 5.63%** |  |  |  |
| **Financials 1.27%** |  |  |  |
| ACE INA Holdings, Inc. 3.35% 5/3/2026 |  | 880 | 843 |
| ACE INA Holdings, Inc. 4.35% 11/3/2045 |  | 400 | 348 |
| Advisor Group Holdings, LLC 6.25% 3/1/2028<sup>6</sup> |  | 4470 | 4115 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026 |  | 5457 | 4779 |
| AerCap Ireland Capital DAC 3.00% 10/29/2028 |  | 4501 | 3779 |
| AerCap Ireland Capital DAC 3.30% 1/30/2032 |  | 2838 | 2226 |
| AerCap Ireland Capital DAC 3.85% 10/29/2041 |  | 1970 | 1400 |
| AG Merger Sub II, Inc. 10.75% 8/1/2027<sup>6</sup> |  | 2420 | 2453 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027<sup>6</sup> |  | 1072 | 1083 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025)<sup>6,13</sup> |  | 7750 | 7899 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027<sup>6</sup> |  | 2100 | 1884 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029<sup>6</sup> |  | 2295 | 1890 |
| Ally Financial, Inc. 8.00% 11/1/2031 |  | 3000 | 3127 |
| American International Group, Inc. 2.50% 6/30/2025 |  | 10533 | 9926 |
| AmWINS Group, Inc. 4.875% 6/30/2029<sup>6</sup> |  | 1348 | 1145 |
| Aretec Escrow Issuer, Inc. 7.50% 4/1/2029<sup>6</sup> |  | 1250 | 1034 |
| Banco Santander, SA 5.147% 8/18/2025 |  | 2400 | 2376 |
| Bangkok Bank PCL 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)<sup>13</sup> |  | 2428 | 2034 |
| Bank of America Corp. 3.55% 3/5/2024 (3-month USD-LIBOR + 0.78% on 3/5/2023)<sup>13</sup> |  | 6000 | 5978 |
| Bank of America Corp. 1.197% 10/24/2026 (USD-SOFR + 1.01% on 10/24/2025)<sup>13</sup> |  | 2500 | 2225 |
| Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)<sup>13</sup> |  | 1565 | 1373 |
| Bank of America Corp. 3.419% 12/20/2028 (3-month USD-LIBOR + 1.04% on 12/20/2027)<sup>13</sup> |  | 2345 | 2127 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030)<sup>13</sup> |  | 1000 | 766 |
| Bank of Nova Scotia 1.625% 5/1/2023 |  | 5000 | 4948 |
| Berkshire Hathaway, Inc. 2.75% 3/15/2023 |  | 1615 | 1608 |
| Berkshire Hathaway, Inc. 3.125% 3/15/2026 |  | 500 | 480 |
| Blackstone Private Credit Fund 7.05% 9/29/2025<sup>6</sup> |  | 2510 | 2493 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028)<sup>6,13</sup> |  | 2400 | 1961 |
| Castlelake Aviation Finance DAC 5.00% 4/15/2027<sup>6</sup> |  | 3370 | 2937 |
| Citigroup, Inc. 5.61% 9/29/2026 (USD-SOFR + 1.546% on 12/29/2025)<sup>13</sup> |  | 8000 | 8043 |
| Citigroup, Inc. 2.976% 11/5/2030 (USD-SOFR + 1.422% on 11/5/2029)<sup>13</sup> |  | 3254 | 2743 |
| CME Group, Inc. 3.75% 6/15/2028 |  | 3425 | 3297 |
| Coinbase Global, Inc. 3.375% 10/1/2028<sup>6</sup> |  | 2625 | 1391 |
| Coinbase Global, Inc. 3.625% 10/1/2031<sup>6</sup> |  | 2875 | 1388 |
| Compass Diversified Holdings 5.25% 4/15/2029<sup>6</sup> |  | 820 | 703 |
| Compass Diversified Holdings 5.00% 1/15/2032<sup>6</sup> |  | 715 | 569 |
| Corebridge Financial, Inc. 3.50% 4/4/2025<sup>6</sup> |  | 642 | 616 |
| Corebridge Financial, Inc. 3.65% 4/5/2027<sup>6</sup> |  | 914 | 853 |
| Corebridge Financial, Inc. 3.85% 4/5/2029<sup>6</sup> |  | 621 | 567 |
| Corebridge Financial, Inc. 3.90% 4/5/2032<sup>6</sup> |  | 351 | 307 |
| Corebridge Financial, Inc. 4.35% 4/5/2042<sup>6</sup> |  | 203 | 167 |
| Corebridge Financial, Inc. 4.40% 4/5/2052<sup>6</sup> |  | 489 | 390 |
| Crédit Agricole SA 4.375% 3/17/2025<sup>6</sup> |  | 850 | 822 |
| Credit Suisse Group AG 3.80% 6/9/2023 |  | 1875 | 1826 |
| Credit Suisse Group AG 4.207% 6/12/2024 (3-month USD-LIBOR + 1.24% on 6/12/2023)<sup>6,13</sup> |  | 4500 | 4388 |
| Credit Suisse Group AG 3.625% 9/9/2024 |  | 1500 | 1400 |
| Credit Suisse Group AG 2.593% 9/11/2025 (USD-SOFR + 1.56% on 9/11/2024)<sup>6,13</sup> |  | 1568 | 1387 |
| Credit Suisse Group AG 2.193% 6/5/2026 (USD-SOFR + 2.044% on 6/5/2025)<sup>6,13</sup> |  | 1250 | 1069 |

---

140 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Credit Suisse Group AG 3.869% 1/12/2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)<sup>6,13</sup> | USD | 800 | $642 |
| Danske Bank AS 3.773% 3/28/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.45% on 3/28/2024)<sup>6,13</sup> |  | 6000 | 5817 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025)<sup>13</sup> |  | 2212 | 1954 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)<sup>13</sup> |  | 2788 | 2367 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027)<sup>13</sup> |  | 5000 | 4257 |
| Digital Currency Group, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8.00% 11/30/2026<sup>3,9,14</sup> |  | 709 | 616 |
| Digital Currency Group, Inc., Term Loan, 8.75% 11/30/2026<sup>3,14</sup> |  | 945 | 758 |
| DNB Bank ASA 5.896% 10/9/2026 (USD-SOFR + 1.95% on 10/9/2025)<sup>6,13</sup> |  | 7750 | 7758 |
| FS Energy and Power Fund 7.50% 8/15/2023<sup>6</sup> |  | 1995 | 2001 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026)<sup>13</sup> |  | 2198 | 1925 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027)<sup>13</sup> |  | 4000 | 3567 |
| Goldman Sachs Group, Inc. 3.814% 4/23/2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)<sup>13</sup> |  | 390 | 357 |
| Goldman Sachs Group, Inc. 2.615% 4/22/2032 (USD-SOFR + 1.281% on 4/22/2031)<sup>13</sup> |  | 2323 | 1858 |
| Goldman Sachs Group, Inc. 3.21% 4/22/2042 (USD-SOFR + 1.513% on 4/22/2041)<sup>13</sup> |  | 2000 | 1448 |
| Groupe BPCE SA 2.75% 1/11/2023<sup>6</sup> |  | 600 | 600 |
| Groupe BPCE SA 5.70% 10/22/2023<sup>6</sup> |  | 2250 | 2234 |
| Groupe BPCE SA 5.15% 7/21/2024<sup>6</sup> |  | 3710 | 3634 |
| Groupe BPCE SA 1.00% 1/20/2026<sup>6</sup> |  | 3000 | 2633 |
| Hightower Holding, LLC 6.75% 4/15/2029<sup>6</sup> |  | 870 | 731 |
| HSBC Holdings PLC 4.25% 3/14/2024 |  | 3000 | 2948 |
| HSBC Holdings PLC 2.633% 11/7/2025 (3-month USD-LIBOR + 1.14% on 11/7/2024)<sup>13</sup> |  | 625 | 587 |
| HSBC Holdings PLC 2.099% 6/4/2026 (USD-SOFR + 1.929% on 6/4/2025)<sup>13</sup> |  | 3000 | 2733 |
| HSBC Holdings PLC 3.973% 5/22/2030 (3-month USD-LIBOR + 1.61% on 5/22/2029)<sup>13</sup> |  | 1500 | 1316 |
| Intercontinental Exchange, Inc. 2.65% 9/15/2040 |  | 7425 | 5166 |
| Intesa Sanpaolo SpA 3.375% 1/12/2023<sup>6</sup> |  | 750 | 750 |
| Intesa Sanpaolo SpA 5.017% 6/26/2024<sup>6</sup> |  | 1730 | 1664 |
| Intesa Sanpaolo SpA 3.25% 9/23/2024<sup>6</sup> |  | 750 | 712 |
| Intesa Sanpaolo SpA 3.875% 7/14/2027<sup>6</sup> |  | 300 | 268 |
| Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% on 11/21/2032)<sup>6,13</sup> |  | 4600 | 4680 |
| JPMorgan Chase & Co. 3.559% 4/23/2024 (3-month USD-LIBOR + 0.73% on 4/23/2023)<sup>13</sup> |  | 4725 | 4694 |
| JPMorgan Chase & Co. 4.08% 4/26/2026 (USD-SOFR + 1.32% on 4/26/2025)<sup>13</sup> |  | 6000 | 5831 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027)<sup>13</sup> |  | 4000 | 3826 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)<sup>13</sup> |  | 3740 | 3652 |
| JPMorgan Chase & Co. 4.586% 4/26/2033 (USD-SOFR + 1.80% on 4/26/2032)<sup>13</sup> |  | 299 | 278 |
| JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)<sup>13</sup> |  | 3982 | 3803 |
| Kasikornbank PCL HK 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)<sup>13</sup> |  | 1222 | 1077 |
| Lloyds Banking Group PLC 4.05% 8/16/2023 |  | 2000 | 1987 |
| Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 5/11/2026)<sup>13</sup> |  | 800 | 693 |
| LPL Holdings, Inc. 4.625% 11/15/2027<sup>6</sup> |  | 2700 | 2527 |
| LPL Holdings, Inc. 4.375% 5/15/2031<sup>6</sup> |  | 1805 | 1537 |
| Marsh & McLennan Companies, Inc. 3.875% 3/15/2024 |  | 820 | 809 |
| Marsh & McLennan Companies, Inc. 4.375% 3/15/2029 |  | 1705 | 1651 |
| Marsh & McLennan Companies, Inc. 4.90% 3/15/2049 |  | 719 | 665 |
| Marsh & McLennan Companies, Inc. 2.90% 12/15/2051 |  | 920 | 594 |
| MGIC Investment Corp. 5.25% 8/15/2028 |  | 1175 | 1085 |
| Morgan Stanley 3.737% 4/24/2024 (3-month USD-LIBOR + 0.847% on 4/24/2023)<sup>13</sup> |  | 300 | 298 |
| Morgan Stanley 4.679% 7/17/2026 (USD-SOFR + 1.669% on 7/17/2025)<sup>13</sup> |  | 2450 | 2410 |

---

American Funds Insurance Series 141

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Morgan Stanley 3.125% 7/27/2026 | USD | 325 | $304 |
| MSCI, Inc. 3.625% 11/1/2031<sup>6</sup> |  | 2225 | 1843 |
| National Australia Bank, Ltd. 1.887% 1/12/2027<sup>6</sup> |  | 5000 | 4450 |
| Navient Corp. 5.50% 1/25/2023 |  | 1594 | 1594 |
| Navient Corp. 6.125% 3/25/2024 |  | 8030 | 7879 |
| Navient Corp. 5.875% 10/25/2024 |  | 1005 | 974 |
| Navient Corp. 6.75% 6/15/2026 |  | 300 | 285 |
| Navient Corp. 5.50% 3/15/2029 |  | 5980 | 4888 |
| New York Life Global Funding 2.35% 7/14/2026<sup>6</sup> |  | 590 | 544 |
| Northwestern Mutual Global Funding 1.75% 1/11/2027<sup>6</sup> |  | 2500 | 2211 |
| OneMain Finance Corp. 3.875% 9/15/2028 |  | 756 | 602 |
| Owl Rock Capital Corp. 4.00% 3/30/2025 |  | 102 | 96 |
| Owl Rock Capital Corp. 3.75% 7/22/2025 |  | 2874 | 2658 |
| Owl Rock Capital Corp. 3.40% 7/15/2026 |  | 1290 | 1128 |
| Owl Rock Capital Corp. II 4.625% 11/26/2024<sup>6</sup> |  | 2305 | 2194 |
| Owl Rock Capital Corp. III 3.125% 4/13/2027 |  | 2520 | 2078 |
| Owl Rock Core Income Corp. 4.70% 2/8/2027 |  | 2500 | 2258 |
| Oxford Finance, LLC 6.375% 2/1/2027<sup>6</sup> |  | 1125 | 1049 |
| PNC Financial Services Group, Inc. 3.90% 4/29/2024 |  | 2000 | 1977 |
| Power Financial Corp., Ltd. 5.25% 8/10/2028 |  | 383 | 373 |
| Power Financial Corp., Ltd. 6.15% 12/6/2028 |  | 350 | 356 |
| Power Financial Corp., Ltd. 4.50% 6/18/2029 |  | 554 | 513 |
| Power Financial Corp., Ltd. 3.95% 4/23/2030 |  | 1213 | 1067 |
| Prudential Financial, Inc. 4.35% 2/25/2050 |  | 2205 | 1879 |
| Prudential Financial, Inc. 3.70% 3/13/2051 |  | 755 | 580 |
| Quicken Loans, LLC 3.625% 3/1/2029<sup>6</sup> |  | 1505 | 1195 |
| Rabobank Nederland 4.375% 8/4/2025 |  | 4500 | 4397 |
| Rocket Mortgage, LLC 2.875% 10/15/2026<sup>6</sup> |  | 2110 | 1812 |
| Royal Bank of Canada 1.15% 6/10/2025 |  | 4711 | 4316 |
| Ryan Specialty Group, LLC 4.375% 2/1/2030<sup>6</sup> |  | 270 | 234 |
| Springleaf Finance Corp. 6.125% 3/15/2024 |  | 2550 | 2472 |
| Starwood Property Trust, Inc. 5.50% 11/1/2023<sup>6</sup> |  | 1160 | 1152 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027<sup>6</sup> |  | 1540 | 1350 |
| Swiss Re Finance (Luxembourg) SA 5.00% 4/2/2049<br> (5-year UST Yield Curve Rate T Note Constant Maturity + 3.582% on 4/2/2029)<sup>6,13</sup> |  | 2800 | 2591 |
| Toronto-Dominion Bank 2.65% 6/12/2024 |  | 625 | 605 |
| Toronto-Dominion Bank 0.75% 9/11/2025 |  | 5375 | 4803 |
| Toronto-Dominion Bank 1.25% 9/10/2026 |  | 2425 | 2124 |
| Toronto-Dominion Bank 1.95% 1/12/2027 |  | 2500 | 2231 |
| Toronto-Dominion Bank 2.45% 1/12/2032 |  | 1500 | 1219 |
| Travelers Companies, Inc. 4.00% 5/30/2047 |  | 860 | 699 |
| U.S. Bancorp 2.375% 7/22/2026 |  | 4000 | 3696 |
| UBS Group AG 4.125% 9/24/2025<sup>6</sup> |  | 2750 | 2677 |
| UniCredit SpA 4.625% 4/12/2027<sup>6</sup> |  | 625 | 586 |
| Wells Fargo & Company 2.164% 2/11/2026 (3-month USD-LIBOR + 0.75% on 2/11/2025)<sup>13</sup> |  | 8000 | 7464 |
| Wells Fargo & Company 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027)<sup>13</sup> |  | 4337 | 4024 |
| Westpac Banking Corp. 2.75% 1/11/2023 |  | 1750 | 1749 |
| Westpac Banking Corp. 2.894% 2/4/2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 2/4/2025)<sup>13</sup> |  | 3000 | 2753 |
| Westpac Banking Corp. 2.668% 11/15/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 11/15/2030)<sup>13</sup> |  | 3325 | 2478 |
| Westpac Banking Corp. 2.963% 11/16/2040 |  | 1500 | 996 |
|  |  |  | **315964** |
| **Energy 0.62%** |  |  |  |
| Altera Infrastructure, LP 8.50% 7/15/2023<sup>3,6,15</sup> |  | 3550 | 663 |
| Antero Midstream Partners, LP 5.375% 6/15/2029<sup>6</sup> |  | 2170 | 1987 |
| Antero Resources Corp. 7.625% 2/1/2029<sup>6</sup> |  | 955 | 962 |
| Ascent Resources Utica Holdings, LLC 7.00% 11/1/2026<sup>6</sup> |  | 2000 | 1943 |

---

142 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029<sup>6</sup> | USD | 1270 | $1134 |
| Bonanza Creek Energy, Inc. 5.00% 10/15/2026<sup>6</sup> |  | 480 | 439 |
| BP Capital Markets America, Inc. 2.772% 11/10/2050 |  | 681 | 438 |
| Canadian Natural Resources, Ltd. 2.05% 7/15/2025 |  | 961 | 895 |
| Canadian Natural Resources, Ltd. 4.95% 6/1/2047 |  | 1559 | 1360 |
| Cheniere Energy, Inc. 4.625% 10/15/2028 |  | 4645 | 4207 |
| Chesapeake Energy Corp. 4.875% 4/15/2022<sup>15</sup> |  | 7225 | 163 |
| Chesapeake Energy Corp. 5.50% 2/1/2026<sup>6</sup> |  | 685 | 662 |
| Chesapeake Energy Corp. 5.875% 2/1/2029<sup>6</sup> |  | 2240 | 2126 |
| CNX Midstream Partners, LP 4.75% 4/15/2030<sup>6</sup> |  | 1055 | 867 |
| CNX Resources Corp. 7.25% 3/14/2027<sup>6</sup> |  | 1725 | 1715 |
| CNX Resources Corp. 6.00% 1/15/2029<sup>6</sup> |  | 2675 | 2465 |
| CNX Resources Corp. 7.375% 1/15/2031<sup>6</sup> |  | 553 | 531 |
| Comstock Resources, Inc. 5.875% 1/15/2030<sup>6</sup> |  | 450 | 387 |
| Constellation Oil Services Holding SA 13.50% 6/30/2025<sup>3,6</sup> |  | 1120 | 1120 |
| Constellation Oil Services Holding SA 4.00% PIK 12/31/2026<sup>16</sup> |  | 434 | 257 |
| Crestwood Midstream Partners, LP 8.00% 4/1/2029<sup>6</sup> |  | 4265 | 4250 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>6,9,16</sup> |  | 204 | 194 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>16</sup> |  | 185 | 176 |
| DT Midstream, Inc. 4.375% 6/15/2031<sup>6</sup> |  | 1680 | 1412 |
| Enbridge Energy Partners, LP, Series B, 7.50% 4/15/2038 |  | 300 | 331 |
| Enbridge, Inc. 4.00% 10/1/2023 |  | 278 | 276 |
| Enbridge, Inc. 2.50% 1/15/2025 |  | 300 | 284 |
| Enbridge, Inc. 3.70% 7/15/2027 |  | 62 | 58 |
| Energy Transfer Operating, LP 5.00% 5/15/2050 |  | 1869 | 1502 |
| Energy Transfer Partners, LP 4.50% 4/15/2024 |  | 1210 | 1193 |
| Energy Transfer Partners, LP 4.75% 1/15/2026 |  | 2494 | 2432 |
| Enterprise Products Operating, LLC 4.90% 5/15/2046 |  | 500 | 437 |
| EQM Midstream Partners, LP 4.125% 12/1/2026 |  | 686 | 612 |
| EQM Midstream Partners, LP 6.50% 7/1/2027<sup>6</sup> |  | 1690 | 1618 |
| EQM Midstream Partners, LP 5.50% 7/15/2028 |  | 3088 | 2767 |
| EQM Midstream Partners, LP 7.50% 6/1/2030<sup>6</sup> |  | 642 | 619 |
| EQM Midstream Partners, LP 4.75% 1/15/2031<sup>6</sup> |  | 1635 | 1340 |
| EQT Corp. 5.00% 1/15/2029 |  | 340 | 320 |
| EQT Corp. 7.25% 2/1/2030<sup>13</sup> |  | 1110 | 1153 |
| EQT Corp. 3.625% 5/15/2031<sup>6</sup> |  | 400 | 340 |
| Equinor ASA 3.00% 4/6/2027 |  | 4000 | 3739 |
| Equinor ASA 3.625% 9/10/2028 |  | 3685 | 3494 |
| Exxon Mobil Corp. 2.019% 8/16/2024 |  | 643 | 615 |
| Exxon Mobil Corp. 2.44% 8/16/2029 |  | 1963 | 1719 |
| Exxon Mobil Corp. 3.452% 4/15/2051 |  | 1000 | 758 |
| Genesis Energy, LP 6.50% 10/1/2025 |  | 4280 | 4097 |
| Genesis Energy, LP 6.25% 5/15/2026 |  | 1805 | 1654 |
| Genesis Energy, LP 8.00% 1/15/2027 |  | 4612 | 4362 |
| Genesis Energy, LP 7.75% 2/1/2028 |  | 470 | 433 |
| Halliburton Company 3.80% 11/15/2025 |  | 6 | 6 |
| Harvest Midstream I, LP 7.50% 9/1/2028<sup>6</sup> |  | 850 | 813 |
| Hess Midstream Operations, LP 4.25% 2/15/2030<sup>6</sup> |  | 960 | 822 |
| Hess Midstream Operations, LP 5.50% 10/15/2030<sup>6</sup> |  | 400 | 366 |
| Hess Midstream Partners, LP 5.125% 6/15/2028<sup>6</sup> |  | 2155 | 1997 |
| Hilcorp Energy I, LP 6.00% 4/15/2030<sup>6</sup> |  | 350 | 312 |
| Hilcorp Energy I, LP 6.00% 2/1/2031<sup>6</sup> |  | 460 | 398 |
| Holly Energy Partners, LP / Holly Energy Finance Corp. 6.375% 4/15/2027<sup>6</sup> |  | 545 | 536 |
| Kinder Morgan, Inc. 5.45% 8/1/2052 |  | 1238 | 1118 |
| Marathon Oil Corp. 4.40% 7/15/2027 |  | 1005 | 961 |
| MPLX, LP 4.125% 3/1/2027 |  | 500 | 473 |
| MPLX, LP 2.65% 8/15/2030 |  | 4273 | 3472 |
| MPLX, LP 4.50% 4/15/2038 |  | 750 | 635 |
| MPLX, LP 4.70% 4/15/2048 |  | 1101 | 874 |
| New Fortress Energy, Inc. 6.75% 9/15/2025<sup>6</sup> |  | 1065 | 1010 |
| New Fortress Energy, Inc. 6.50% 9/30/2026<sup>6</sup> |  | 2435 | 2266 |

---

American Funds Insurance Series 143

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| NGL Energy Operating, LLC 7.50% 2/1/2026<sup>6</sup> | USD | 14165 | $12637 |
| NGL Energy Partners, LP 6.125% 3/1/2025 |  | 3422 | 2794 |
| Oasis Petroleum, Inc. 6.375% 6/1/2026<sup>6</sup> |  | 1945 | 1897 |
| ONEOK, Inc. 5.85% 1/15/2026 |  | 347 | 352 |
| Parkland Corp. 4.625% 5/1/2030<sup>6</sup> |  | 1035 | 858 |
| Petróleos Mexicanos 6.875% 10/16/2025 |  | 3755 | 3682 |
| Petróleos Mexicanos 5.35% 2/12/2028 |  | 1870 | 1578 |
| Petróleos Mexicanos 6.75% 9/21/2047 |  | 1996 | 1278 |
| Pioneer Natural Resources Company 2.15% 1/15/2031 |  | 1669 | 1323 |
| Plains All American Pipeline, LP 3.80% 9/15/2030 |  | 113 | 98 |
| Range Resources Corp. 8.25% 1/15/2029 |  | 1040 | 1073 |
| Range Resources Corp. 4.75% 2/15/2030<sup>6</sup> |  | 1670 | 1474 |
| Rockies Express Pipeline, LLC 4.95% 7/15/2029<sup>6</sup> |  | 2689 | 2421 |
| Southwestern Energy Co. 7.75% 10/1/2027 |  | 2450 | 2501 |
| Southwestern Energy Co. 8.375% 9/15/2028 |  | 395 | 408 |
| Southwestern Energy Co. 5.375% 2/1/2029 |  | 1355 | 1258 |
| Southwestern Energy Co. 5.375% 3/15/2030 |  | 1945 | 1778 |
| Southwestern Energy Co. 4.75% 2/1/2032 |  | 960 | 822 |
| Statoil ASA 3.25% 11/10/2024 |  | 2850 | 2780 |
| Statoil ASA 4.25% 11/23/2041 |  | 2000 | 1769 |
| Sunoco, LP 4.50% 5/15/2029 |  | 1050 | 920 |
| Sunoco, LP 4.50% 4/30/2030 |  | 1255 | 1091 |
| Targa Resources Partners, LP 5.50% 3/1/2030 |  | 2260 | 2130 |
| Total SE 2.986% 6/29/2041 |  | 88 | 66 |
| TransCanada PipeLines, Ltd. 4.25% 5/15/2028 |  | 1090 | 1034 |
| TransCanada PipeLines, Ltd. 4.10% 4/15/2030 |  | 598 | 549 |
| TransCanada PipeLines, Ltd. 4.75% 5/15/2038 |  | 2000 | 1790 |
| TransCanada PipeLines, Ltd. 4.875% 5/15/2048 |  | 700 | 615 |
| Valero Energy Corp. 4.00% 4/1/2029 |  | 4000 | 3773 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031<sup>6</sup> |  | 840 | 717 |
| Weatherford International, Ltd. 11.00% 12/1/2024<sup>6</sup> |  | 497 | 509 |
| Weatherford International, Ltd. 6.50% 9/15/2028<sup>6</sup> |  | 2380 | 2337 |
| Weatherford International, Ltd. 8.625% 4/30/2030<sup>6</sup> |  | 7690 | 7398 |
| Western Gas Partners, LP 4.50% 3/1/2028 |  | 3018 | 2785 |
| Western Midstream Operating, LP 4.30% 2/1/2030<sup>13</sup> |  | 1125 | 985 |
| Williams Companies, Inc. 3.50% 11/15/2030 |  | 1094 | 959 |
|  |  |  | **153004** |
| **Health care 0.60%** |  |  |  |
| AbbVie, Inc. 3.80% 3/15/2025 |  | 206 | 201 |
| AbbVie, Inc. 2.95% 11/21/2026 |  | 1445 | 1346 |
| AdaptHealth, LLC 5.125% 3/1/2030<sup>6</sup> |  | 830 | 708 |
| AmerisourceBergen Corp. 0.737% 3/15/2023 |  | 1291 | 1280 |
| Amgen, Inc. 4.40% 2/22/2062 |  | 1697 | 1352 |
| Anthem, Inc. 2.375% 1/15/2025 |  | 818 | 777 |
| AstraZeneca Finance, LLC 1.20% 5/28/2026 |  | 3786 | 3375 |
| AstraZeneca Finance, LLC 1.75% 5/28/2028 |  | 1871 | 1609 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031 |  | 742 | 619 |
| AstraZeneca PLC 3.375% 11/16/2025 |  | 1140 | 1101 |
| Bausch Health Companies, Inc. 5.00% 1/30/2028<sup>6</sup> |  | 1735 | 836 |
| Bausch Health Companies, Inc. 4.875% 6/1/2028<sup>6</sup> |  | 7450 | 4753 |
| Bausch Health Companies, Inc. 5.00% 2/15/2029<sup>6</sup> |  | 1000 | 481 |
| Baxter International, Inc. 1.322% 11/29/2024 |  | 7109 | 6623 |
| Baxter International, Inc. 1.915% 2/1/2027 |  | 4739 | 4208 |
| Baxter International, Inc. 2.272% 12/1/2028 |  | 3180 | 2718 |
| Bayer US Finance II, LLC 3.875% 12/15/2023<sup>6</sup> |  | 1685 | 1661 |
| Becton, Dickinson and Company 3.363% 6/6/2024 |  | 198 | 194 |
| Boston Scientific Corp. 3.45% 3/1/2024 |  | 313 | 307 |
| Centene Corp. 4.25% 12/15/2027 |  | 565 | 531 |
| Centene Corp. 2.45% 7/15/2028 |  | 1325 | 1121 |

---

144 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Health care (continued)** |  |  |  |
| Centene Corp. 4.625% 12/15/2029 | USD | 1265 | $1159 |
| Cigna Corp. 3.75% 7/15/2023 |  | 245 | 243 |
| Community Health Systems, Inc. 5.625% 3/15/2027<sup>6</sup> |  | 1960 | 1684 |
| Community Health Systems, Inc. 5.25% 5/15/2030<sup>6</sup> |  | 3675 | 2778 |
| Eli Lilly and Company 3.375% 3/15/2029 |  | 1353 | 1269 |
| GlaxoSmithKline PLC 3.625% 5/15/2025 |  | 2825 | 2761 |
| HCA, Inc. 3.375% 3/15/2029<sup>6</sup> |  | 804 | 708 |
| HCA, Inc. 3.50% 9/1/2030 |  | 4050 | 3503 |
| HCA, Inc. 3.625% 3/15/2032<sup>6</sup> |  | 1000 | 849 |
| HCA, Inc. 4.375% 3/15/2042<sup>6</sup> |  | 1500 | 1201 |
| HCA, Inc. 4.625% 3/15/2052<sup>6</sup> |  | 1450 | 1135 |
| Jazz Securities DAC 4.375% 1/15/2029<sup>6</sup> |  | 1975 | 1764 |
| Merck & Co., Inc. 1.90% 12/10/2028 |  | 600 | 516 |
| Merck & Co., Inc. 2.75% 12/10/2051 |  | 1103 | 742 |
| Molina Healthcare, Inc. 4.375% 6/15/2028<sup>6</sup> |  | 440 | 402 |
| Molina Healthcare, Inc. 3.875% 11/15/2030<sup>6</sup> |  | 2899 | 2461 |
| Molina Healthcare, Inc. 3.875% 5/15/2032<sup>6</sup> |  | 3855 | 3207 |
| Novant Health, Inc. 3.168% 11/1/2051 |  | 3750 | 2608 |
| Novartis Capital Corp. 1.75% 2/14/2025 |  | 1250 | 1179 |
| Novartis Capital Corp. 2.00% 2/14/2027 |  | 2386 | 2174 |
| Owens & Minor, Inc. 4.375% 12/15/2024 |  | 5615 | 5436 |
| Owens & Minor, Inc. 4.50% 3/31/2029<sup>6</sup> |  | 4175 | 3334 |
| Par Pharmaceutical, Inc. 7.50% 4/1/2027<sup>6</sup> |  | 7303 | 5566 |
| Pfizer, Inc. 2.95% 3/15/2024 |  | 219 | 214 |
| Shire PLC 2.875% 9/23/2023 |  | 1365 | 1342 |
| Summa Health 3.511% 11/15/2051 |  | 1655 | 1123 |
| Tenet Healthcare Corp. 4.875% 1/1/2026<sup>6</sup> |  | 11225 | 10638 |
| Tenet Healthcare Corp. 4.25% 6/1/2029<sup>6</sup> |  | 2060 | 1788 |
| Tenet Healthcare Corp. 4.375% 1/15/2030<sup>6</sup> |  | 1925 | 1670 |
| Teva Pharmaceutical Finance Co. BV 6.00% 4/15/2024 |  | 7016 | 6891 |
| Teva Pharmaceutical Finance Co. BV 7.125% 1/31/2025 |  | 935 | 931 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  | 17790 | 15594 |
| Teva Pharmaceutical Finance Co. BV 5.125% 5/9/2029 |  | 7495 | 6684 |
| Teva Pharmaceutical Finance Co. BV 4.10% 10/1/2046 |  | 3550 | 2178 |
| UnitedHealth Group, Inc. 1.15% 5/15/2026 |  | 2610 | 2334 |
| UnitedHealth Group, Inc. 5.30% 2/15/2030 |  | 2500 | 2582 |
| UnitedHealth Group, Inc. 2.00% 5/15/2030 |  | 974 | 806 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032 |  | 767 | 730 |
| UnitedHealth Group, Inc. 3.05% 5/15/2041 |  | 3875 | 2928 |
| UnitedHealth Group, Inc. 3.25% 5/15/2051 |  | 2504 | 1804 |
| UnitedHealth Group, Inc. 4.75% 5/15/2052 |  | 1250 | 1161 |
| Valeant Pharmaceuticals International, Inc. 5.50% 11/1/2025<sup>6</sup> |  | 6275 | 5344 |
|  |  |  | **149222** |
| **Consumer discretionary 0.59%** |  |  |  |
| Allied Universal Holdco, LLC 4.625% 6/1/2028<sup>6</sup> |  | 1660 | 1374 |
| Amazon.com, Inc. 2.70% 6/3/2060 |  | 2765 | 1679 |
| American Honda Finance Corp. 3.50% 2/15/2028 |  | 750 | 702 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029<sup>6</sup> |  | 2115 | 1785 |
| Atlas LuxCo 4 SARL 4.625% 6/1/2028<sup>6</sup> |  | 1065 | 865 |
| Bayerische Motoren Werke AG 2.25% 9/15/2023<sup>6</sup> |  | 300 | 294 |
| Caesars Entertainment, Inc. 6.25% 7/1/2025<sup>6</sup> |  | 2815 | 2741 |
| Carnival Corp. 4.00% 8/1/2028<sup>6</sup> |  | 3875 | 3167 |
| Daimler Trucks Finance North America, LLC 3.50% 4/7/2025<sup>6</sup> |  | 2000 | 1920 |
| Daimler Trucks Finance North America, LLC 2.00% 12/14/2026<sup>6</sup> |  | 2400 | 2118 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027<sup>6</sup> |  | 450 | 421 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028<sup>6</sup> |  | 1350 | 1137 |
| Fertitta Entertainment, Inc. 4.625% 1/15/2029<sup>6</sup> |  | 3580 | 3034 |
| Fertitta Entertainment, Inc. 6.75% 1/15/2030<sup>6</sup> |  | 1790 | 1447 |
| First Student Bidco, Inc. 4.00% 7/31/2029<sup>6</sup> |  | 1300 | 1077 |

---

American Funds Insurance Series 145

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Ford Motor Credit Company, LLC 5.125% 6/16/2025 | USD | 3855 | $3714 |
| Ford Motor Credit Company, LLC 4.542% 8/1/2026 |  | 2455 | 2266 |
| Ford Motor Credit Company, LLC 2.70% 8/10/2026 |  | 2110 | 1835 |
| General Motors Financial Co. 2.35% 2/26/2027 |  | 783 | 685 |
| Hanesbrands, Inc. 4.875% 5/15/2026<sup>6</sup> |  | 2700 | 2417 |
| Hilton Grand Vacations Borrower 5.00% 6/1/2029<sup>6</sup> |  | 3580 | 3083 |
| Hilton Worldwide Holdings, Inc. 4.00% 5/1/2031<sup>6</sup> |  | 1885 | 1581 |
| Home Depot, Inc. 1.50% 9/15/2028 |  | 3000 | 2556 |
| Home Depot, Inc. 3.90% 12/6/2028 |  | 825 | 796 |
| Home Depot, Inc. 2.95% 6/15/2029 |  | 4000 | 3627 |
| Home Depot, Inc. 1.875% 9/15/2031 |  | 3000 | 2405 |
| Home Depot, Inc. 4.25% 4/1/2046 |  | 2000 | 1742 |
| Home Depot, Inc. 4.50% 12/6/2048 |  | 428 | 391 |
| Hyundai Capital America 1.00% 9/17/2024<sup>6</sup> |  | 3025 | 2797 |
| Hyundai Capital America 1.50% 6/15/2026<sup>6</sup> |  | 850 | 737 |
| Hyundai Capital America 1.65% 9/17/2026<sup>6</sup> |  | 3075 | 2707 |
| Hyundai Capital America 2.375% 10/15/2027<sup>6</sup> |  | 2579 | 2210 |
| Hyundai Capital America 2.10% 9/15/2028<sup>6</sup> |  | 3075 | 2529 |
| International Game Technology PLC 6.50% 2/15/2025<sup>6</sup> |  | 1880 | 1895 |
| International Game Technology PLC 5.25% 1/15/2029<sup>6</sup> |  | 6490 | 6059 |
| KB Home 7.25% 7/15/2030 |  | 1295 | 1260 |
| Kontoor Brands, Inc. 4.125% 11/15/2029<sup>6</sup> |  | 910 | 745 |
| Lindblad Expeditions, LLC 6.75% 2/15/2027<sup>6</sup> |  | 775 | 704 |
| Lithia Motors, Inc. 3.875% 6/1/2029<sup>6</sup> |  | 2900 | 2388 |
| Lithia Motors, Inc. 4.375% 1/15/2031<sup>6</sup> |  | 1025 | 836 |
| Marriott International, Inc. 2.75% 10/15/2033 |  | 2500 | 1914 |
| McDonald's Corp. 4.60% 9/9/2032 |  | 1275 | 1251 |
| Melco International Development, Ltd. 5.75% 7/21/2028<sup>6</sup> |  | 1710 | 1433 |
| Mercedes-Benz Finance North America, LLC 5.375% 11/26/2025<sup>6</sup> |  | 1500 | 1510 |
| Mercedes-Benz Finance North America, LLC 5.25% 11/29/2027<sup>6</sup> |  | 2875 | 2895 |
| NCL Corp., Ltd. 5.875% 2/15/2027<sup>6</sup> |  | 2450 | 2125 |
| NCL Corp., Ltd. 7.75% 2/15/2029<sup>6</sup> |  | 1375 | 1037 |
| Neiman Marcus Group, LLC 7.125% 4/1/2026<sup>6</sup> |  | 1345 | 1263 |
| Party City Holdings, Inc. (6-month USD-LIBOR + 5.00%) 8.061% 7/15/2025<sup>6,9</sup> |  | 780 | 213 |
| Party City Holdings, Inc. 8.75% 2/15/2026<sup>6</sup> |  | 3440 | 998 |
| Penske Automotive Group, Inc. 3.75% 6/15/2029 |  | 1375 | 1118 |
| Premier Entertainment Sub, LLC 5.625% 9/1/2029<sup>6</sup> |  | 1690 | 1248 |
| Premier Entertainment Sub, LLC 5.875% 9/1/2031<sup>6</sup> |  | 1690 | 1198 |
| Real Hero Merger Sub 2, Inc. 6.25% 2/1/2029<sup>6</sup> |  | 715 | 491 |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>6</sup> |  | 2423 | 2604 |
| Royal Caribbean Cruises, Ltd. 4.25% 7/1/2026<sup>6</sup> |  | 3120 | 2526 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027<sup>6</sup> |  | 3520 | 2855 |
| Royal Caribbean Cruises, Ltd. 8.25% 1/15/2029<sup>6</sup> |  | 1408 | 1417 |
| Sally Holdings, LLC 5.625% 12/1/2025 |  | 2705 | 2610 |
| Sands China, Ltd. 5.625% 8/8/2025 |  | 1302 | 1247 |
| Sands China, Ltd. 2.80% 3/8/2027<sup>13</sup> |  | 2075 | 1780 |
| Scientific Games Corp. 7.00% 5/15/2028<sup>6</sup> |  | 750 | 717 |
| Scientific Games Corp. 7.25% 11/15/2029<sup>6</sup> |  | 2240 | 2154 |
| Sonic Automotive, Inc. 4.625% 11/15/2029<sup>6</sup> |  | 3035 | 2434 |
| Sonic Automotive, Inc. 4.875% 11/15/2031<sup>6</sup> |  | 1325 | 1043 |
| Stellantis Finance US, Inc. 1.711% 1/29/2027<sup>6</sup> |  | 2200 | 1891 |
| Stellantis Finance US, Inc. 5.625% 1/12/2028<sup>6</sup> |  | 2500 | 2480 |
| Stellantis Finance US, Inc. 2.691% 9/15/2031<sup>6</sup> |  | 2150 | 1646 |
| Stellantis Finance US, Inc. 6.375% 9/12/2032<sup>6</sup> |  | 2000 | 1980 |
| Tempur Sealy International, Inc. 4.00% 4/15/2029<sup>6</sup> |  | 850 | 715 |
| The Gap, Inc. 3.625% 10/1/2029<sup>6</sup> |  | 486 | 343 |
| The Gap, Inc. 3.875% 10/1/2031<sup>6</sup> |  | 323 | 226 |
| Toyota Motor Credit Corp. 0.80% 1/9/2026 |  | 429 | 383 |
| Toyota Motor Credit Corp. 1.90% 1/13/2027 |  | 2500 | 2234 |
| Travel + Leisure Co. 4.50% 12/1/2029<sup>6</sup> |  | 2100 | 1714 |
| Volkswagen Group of America Finance, LLC 4.25% 11/13/2023<sup>6</sup> |  | 3770 | 3734 |

---

146 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Volkswagen Group of America Finance, LLC 4.625% 11/13/2025<sup>6</sup> | USD | 3845 | $3786 |
| Volkswagen Group of America Finance, LLC 3.20% 9/26/2026<sup>6</sup> |  | 3201 | 2972 |
| Wheel Pros, Inc. 6.50% 5/15/2029<sup>6</sup> |  | 1750 | 621 |
| Wyndham Destinations, Inc. 4.625% 3/1/2030<sup>6</sup> |  | 1300 | 1080 |
| Wyndham Worldwide Corp. 4.375% 8/15/2028<sup>6</sup> |  | 2255 | 2027 |
| Wynn Las Vegas, LLC 4.25% 5/30/2023<sup>6</sup> |  | 2193 | 2165 |
|  |  |  | **145804** |
| **Communication services 0.53%** |  |  |  |
| Alphabet, Inc. 1.998% 8/15/2026 |  | 3000 | 2762 |
| Alphabet, Inc. 1.90% 8/15/2040 |  | 1375 | 918 |
| Alphabet, Inc. 2.25% 8/15/2060 |  | 1265 | 719 |
| AT&T, Inc. 3.50% 9/15/2053 |  | 5140 | 3492 |
| CCO Holdings, LLC 4.75% 3/1/2030<sup>6</sup> |  | 2500 | 2162 |
| CCO Holdings, LLC 4.50% 8/15/2030<sup>6</sup> |  | 3500 | 2899 |
| CCO Holdings, LLC 4.25% 2/1/2031<sup>6</sup> |  | 3875 | 3117 |
| CCO Holdings, LLC 4.75% 2/1/2032<sup>6</sup> |  | 2150 | 1747 |
| CCO Holdings, LLC 4.50% 5/1/2032 |  | 2710 | 2162 |
| Charter Communications Operating, LLC 4.908% 7/23/2025 |  | 500 | 491 |
| Charter Communications Operating, LLC 3.70% 4/1/2051 |  | 2000 | 1223 |
| Charter Communications Operating, LLC 3.90% 6/1/2052 |  | 3000 | 1895 |
| Comcast Corp. 2.35% 1/15/2027 |  | 4000 | 3640 |
| Comcast Corp. 3.20% 7/15/2036 |  | 375 | 305 |
| Comcast Corp. 2.80% 1/15/2051 |  | 791 | 503 |
| Comcast Corp. 2.887% 11/1/2051 |  | 2571 | 1663 |
| CSC Holdings, LLC 3.375% 2/15/2031<sup>6</sup> |  | 1875 | 1226 |
| DIRECTV Financing, LLC 5.875% 8/15/2027<sup>6</sup> |  | 3655 | 3277 |
| DISH Network Corp. 11.75% 11/15/2027<sup>6</sup> |  | 3700 | 3815 |
| Embarq Corp. 7.995% 6/1/2036 |  | 6465 | 3020 |
| Fox Corp. 4.03% 1/25/2024 |  | 1120 | 1107 |
| Frontier Communications Corp. 5.875% 10/15/2027<sup>6</sup> |  | 2225 | 2071 |
| Frontier Communications Corp. 5.00% 5/1/2028<sup>6</sup> |  | 5550 | 4851 |
| Frontier Communications Corp. 6.75% 5/1/2029<sup>6</sup> |  | 4400 | 3646 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029 |  | 1850 | 1434 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030<sup>6</sup> |  | 1900 | 1495 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030<sup>6</sup> |  | 1100 | 1121 |
| Gray Escrow II, Inc. 5.375% 11/15/2031<sup>6</sup> |  | 900 | 650 |
| iHeartCommunications, Inc. 5.25% 8/15/2027<sup>6</sup> |  | 3093 | 2625 |
| Intelsat Jackson Holding Co. 6.50% 3/15/2030<sup>6</sup> |  | 2891 | 2592 |
| Ligado Networks, LLC 15.50% PIK 11/1/2023<sup>6,16</sup> |  | 4712 | 1537 |
| Live Nation Entertainment, Inc. 3.75% 1/15/2028<sup>6</sup> |  | 1350 | 1154 |
| Midas OpCo Holdings, LLC 5.625% 8/15/2029<sup>6</sup> |  | 3205 | 2649 |
| Netflix, Inc. 4.875% 4/15/2028 |  | 1250 | 1210 |
| Netflix, Inc. 5.875% 11/15/2028 |  | 2175 | 2210 |
| Netflix, Inc. 6.375% 5/15/2029 |  | 50 | 52 |
| Netflix, Inc. 5.375% 11/15/2029<sup>6</sup> |  | 25 | 24 |
| News Corp. 3.875% 5/15/2029<sup>6</sup> |  | 875 | 760 |
| News Corp. 5.125% 2/15/2032<sup>6</sup> |  | 550 | 501 |
| Nexstar Broadcasting, Inc. 4.75% 11/1/2028<sup>6</sup> |  | 3175 | 2751 |
| SBA Tower Trust 1.631% 11/15/2026<sup>6</sup> |  | 8707 | 7408 |
| Scripps Escrow II, Inc. 3.875% 1/15/2029<sup>6</sup> |  | 2325 | 1869 |
| Sinclair Television Group, Inc. 4.125% 12/1/2030<sup>6</sup> |  | 1175 | 882 |
| Sirius XM Radio, Inc. 4.00% 7/15/2028<sup>6</sup> |  | 3575 | 3118 |
| Sirius XM Radio, Inc. 4.125% 7/1/2030<sup>6</sup> |  | 950 | 786 |
| Sirius XM Radio, Inc. 3.875% 9/1/2031<sup>6</sup> |  | 1975 | 1545 |
| Sprint Corp. 6.875% 11/15/2028 |  | 2525 | 2627 |
| Take-Two Interactive Software, Inc. 3.30% 3/28/2024 |  | 3175 | 3102 |
| Take-Two Interactive Software, Inc. 4.00% 4/14/2032 |  | 2438 | 2165 |
| T-Mobile US, Inc. 1.50% 2/15/2026 |  | 500 | 448 |
| T-Mobile US, Inc. 2.05% 2/15/2028 |  | 325 | 280 |

---

American Funds Insurance Series 147

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Communication services (continued)** |  |  |  |
| Univision Communications, Inc. 6.625% 6/1/2027<sup>6</sup> | USD | 5800 | $5608 |
| Univision Communications, Inc. 4.50% 5/1/2029<sup>6</sup> |  | 3475 | 2913 |
| Univision Communications, Inc. 7.375% 6/30/2030<sup>6</sup> |  | 225 | 215 |
| Verizon Communications, Inc. 2.875% 11/20/2050 |  | 2453 | 1548 |
| Virgin Media O2 4.25% 1/31/2031<sup>6</sup> |  | 4525 | 3673 |
| Virgin Media Secured Finance PLC 4.50% 8/15/2030<sup>6</sup> |  | 2115 | 1771 |
| VMED O2 UK Financing I PLC 4.75% 7/15/2031<sup>6</sup> |  | 225 | 183 |
| Vodafone Group PLC 5.25% 5/30/2048 |  | 500 | 443 |
| Vodafone Group PLC 4.25% 9/17/2050 |  | 4350 | 3337 |
| WarnerMedia Holdings, Inc. 3.638% 3/15/2025<sup>6</sup> |  | 3807 | 3623 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027<sup>6</sup> |  | 1018 | 918 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029<sup>6</sup> |  | 1435 | 1244 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032<sup>6</sup> |  | 2903 | 2399 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042<sup>6</sup> |  | 2500 | 1922 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052<sup>6</sup> |  | 1500 | 1096 |
| Ziggo Bond Co. BV 5.125% 2/28/2030<sup>6</sup> |  | 1775 | 1436 |
| Ziggo Bond Finance BV 4.875% 1/15/2030<sup>6</sup> |  | 725 | 608 |
|  |  |  | **132643** |
| **Industrials 0.53%** |  |  |  |
| AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026<sup>6</sup> |  | 1005 | 968 |
| Allison Transmission Holdings, Inc. 3.75% 1/30/2031<sup>6</sup> |  | 3445 | 2838 |
| Avis Budget Car Rental, LLC 5.75% 7/15/2027<sup>6</sup> |  | 1025 | 929 |
| Avis Budget Group, Inc. 5.375% 3/1/2029<sup>6</sup> |  | 2450 | 2099 |
| Avolon Holdings Funding, Ltd. 3.95% 7/1/2024<sup>6</sup> |  | 1587 | 1520 |
| Avolon Holdings Funding, Ltd. 4.25% 4/15/2026<sup>6</sup> |  | 1126 | 1022 |
| Avolon Holdings Funding, Ltd. 4.375% 5/1/2026<sup>6</sup> |  | 1975 | 1802 |
| Boeing Company 4.875% 5/1/2025 |  | 1555 | 1545 |
| Boeing Company 3.10% 5/1/2026 |  | 251 | 236 |
| Boeing Company 3.25% 2/1/2028 |  | 4000 | 3639 |
| Boeing Company 5.15% 5/1/2030 |  | 1100 | 1076 |
| Boeing Company 3.60% 5/1/2034 |  | 6250 | 5016 |
| Boeing Company 5.805% 5/1/2050 |  | 4000 | 3729 |
| Bombardier, Inc. 7.125% 6/15/2026<sup>6</sup> |  | 4100 | 3985 |
| Bombardier, Inc. 7.875% 4/15/2027<sup>6</sup> |  | 8070 | 7844 |
| Bombardier, Inc. 6.00% 2/15/2028<sup>6</sup> |  | 1010 | 935 |
| BWX Technologies, Inc. 4.125% 4/15/2029<sup>6</sup> |  | 1025 | 899 |
| Canadian Pacific Railway, Ltd. 1.75% 12/2/2026 |  | 1385 | 1236 |
| Canadian Pacific Railway, Ltd. 2.45% 12/2/2031 |  | 1738 | 1444 |
| Canadian Pacific Railway, Ltd. 3.10% 12/2/2051 |  | 829 | 561 |
| Chart Industries, Inc. 7.50% 1/1/2030<sup>6</sup> |  | 1347 | 1356 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028<sup>6</sup> |  | 590 | 512 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029<sup>6</sup> |  | 520 | 443 |
| CoreLogic, Inc. 4.50% 5/1/2028<sup>6</sup> |  | 6075 | 4669 |
| Covanta Holding Corp. 4.875% 12/1/2029<sup>6</sup> |  | 1035 | 849 |
| CSX Corp. 4.25% 3/15/2029 |  | 1062 | 1024 |
| CSX Corp. 2.50% 5/15/2051 |  | 1125 | 688 |
| Honeywell International, Inc. 2.30% 8/15/2024 |  | 2640 | 2536 |
| Honeywell International, Inc. 1.35% 6/1/2025 |  | 5947 | 5503 |
| Honeywell International, Inc. 2.70% 8/15/2029 |  | 1470 | 1310 |
| Icahn Enterprises Finance Corp. 4.75% 9/15/2024 |  | 2090 | 2009 |
| Icahn Enterprises, LP 5.25% 5/15/2027 |  | 1185 | 1088 |
| Icahn Enterprises, LP 4.375% 2/1/2029 |  | 1525 | 1292 |
| L3Harris Technologies, Inc. 1.80% 1/15/2031 |  | 2625 | 2021 |
| Lockheed Martin Corp. 5.10% 11/15/2027 |  | 951 | 974 |
| Lockheed Martin Corp. 5.25% 1/15/2033 |  | 1742 | 1802 |
| Lockheed Martin Corp. 5.70% 11/15/2054 |  | 1849 | 1949 |
| LSC Communications, Inc. 8.75% 10/15/2023<sup>3,6,15</sup> |  | 4063 | 12 |
| Masco Corp. 1.50% 2/15/2028 |  | 774 | 642 |
| Masco Corp. 2.00% 2/15/2031 |  | 497 | 384 |

---

148 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Industrials (continued)** |  |  |  |
| Masco Corp. 3.125% 2/15/2051 | USD | 230 | $144 |
| MasTec, Inc. 4.50% 8/15/2028<sup>6</sup> |  | 1425 | 1279 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027<sup>6</sup> |  | 1980 | 1973 |
| Norfolk Southern Corp. 3.05% 5/15/2050 |  | 2746 | 1852 |
| Northrop Grumman Corp. 2.93% 1/15/2025 |  | 1820 | 1747 |
| Northrop Grumman Corp. 3.25% 1/15/2028 |  | 3495 | 3229 |
| Otis Worldwide Corp. 2.293% 4/5/2027 |  | 2135 | 1914 |
| Roller Bearing Company of America, Inc. 4.375% 10/15/2029<sup>6</sup> |  | 195 | 169 |
| Rolls-Royce PLC 5.75% 10/15/2027<sup>6</sup> |  | 1940 | 1851 |
| Siemens AG 1.20% 3/11/2026<sup>6</sup> |  | 3887 | 3468 |
| Siemens AG 1.70% 3/11/2028<sup>6</sup> |  | 3700 | 3167 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028<sup>6</sup> |  | 2950 | 2777 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029<sup>6</sup> |  | 507 | 534 |
| The Brink's Co. 4.625% 10/15/2027<sup>6</sup> |  | 2385 | 2186 |
| TransDigm, Inc. 6.25% 3/15/2026<sup>6</sup> |  | 3476 | 3436 |
| TransDigm, Inc. 5.50% 11/15/2027 |  | 2200 | 2070 |
| Triumph Group, Inc. 8.875% 6/1/2024<sup>6</sup> |  | 2295 | 2339 |
| Triumph Group, Inc. 6.25% 9/15/2024<sup>6</sup> |  | 4775 | 4534 |
| Triumph Group, Inc. 7.75% 8/15/2025 |  | 3950 | 3366 |
| Union Pacific Corp. 2.40% 2/5/2030 |  | 2414 | 2071 |
| Union Pacific Corp. 2.95% 3/10/2052 |  | 1000 | 681 |
| Union Pacific Corp. 3.839% 3/20/2060 |  | 546 | 425 |
| Union Pacific Corp. 3.799% 4/6/2071 |  | 545 | 405 |
| United Airlines, Inc. 4.375% 4/15/2026<sup>6</sup> |  | 975 | 905 |
| United Airlines, Inc. 4.625% 4/15/2029<sup>6</sup> |  | 2225 | 1941 |
| United Rentals, Inc. 3.875% 2/15/2031 |  | 2050 | 1723 |
| United Technologies Corp. 3.65% 8/16/2023 |  | 52 | 52 |
| United Technologies Corp. 3.95% 8/16/2025 |  | 3155 | 3085 |
| United Technologies Corp. 4.125% 11/16/2028 |  | 1075 | 1031 |
| Vertical U.S. Newco, Inc. 5.25% 7/15/2027<sup>6</sup> |  | 2000 | 1779 |
|  |  |  | **130519** |
| **Materials 0.40%** |  |  |  |
| Alcoa Nederland Holding BV 4.125% 3/31/2029<sup>6</sup> |  | 1175 | 1044 |
| Allegheny Technologies, Inc. 4.875% 10/1/2029 |  | 710 | 628 |
| Allegheny Technologies, Inc. 5.125% 10/1/2031 |  | 1110 | 983 |
| Anglo American Capital PLC 2.25% 3/17/2028<sup>6</sup> |  | 484 | 408 |
| Anglo American Capital PLC 2.625% 9/10/2030<sup>6</sup> |  | 2500 | 2037 |
| Anglo American Capital PLC 3.95% 9/10/2050<sup>6</sup> |  | 1281 | 942 |
| Arconic Rolled Products Corp. 6.125% 2/15/2028<sup>6</sup> |  | 750 | 705 |
| Avient Corp. 7.125% 8/1/2030<sup>6</sup> |  | 855 | 837 |
| Ball Corp. 6.875% 3/15/2028 |  | 1415 | 1455 |
| Ball Corp. 3.125% 9/15/2031 |  | 3520 | 2832 |
| CAN-PACK SA 3.875% 11/15/2029<sup>6</sup> |  | 935 | 738 |
| Celanese US Holdings, LLC 6.165% 7/15/2027 |  | 3500 | 3458 |
| Chevron Phillips Chemical Co., LLC 3.30% 5/1/2023<sup>6</sup> |  | 595 | 591 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027 |  | 9000 | 8613 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029<sup>6</sup> |  | 1825 | 1622 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031<sup>6</sup> |  | 1351 | 1195 |
| CVR Partners, LP 6.125% 6/15/2028<sup>6</sup> |  | 745 | 669 |
| Dow Chemical Co. 3.60% 11/15/2050 |  | 1328 | 955 |
| First Quantum Minerals, Ltd. 6.50% 3/1/2024<sup>6</sup> |  | 2204 | 2159 |
| First Quantum Minerals, Ltd. 7.50% 4/1/2025<sup>6</sup> |  | 11350 | 11071 |
| First Quantum Minerals, Ltd. 6.875% 3/1/2026<sup>6</sup> |  | 3625 | 3438 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027<sup>6</sup> |  | 4240 | 3987 |
| FXI Holdings, Inc. 7.875% 11/1/2024<sup>6</sup> |  | 2321 | 1933 |
| FXI Holdings, Inc. 12.25% 11/15/2026<sup>6</sup> |  | 4492 | 3726 |
| Glencore Funding, LLC 4.125% 3/12/2024<sup>6</sup> |  | 945 | 930 |
| International Flavors & Fragrances, Inc. 1.832% 10/15/2027<sup>6</sup> |  | 5400 | 4541 |
| Kaiser Aluminum Corp. 4.625% 3/1/2028<sup>6</sup> |  | 2495 | 2181 |

---

American Funds Insurance Series 149

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Materials (continued)** |  |  |  |
| LSB Industries, Inc. 6.25% 10/15/2028<sup>6</sup> | USD | 860 | $788 |
| LYB International Finance III, LLC 2.25% 10/1/2030 |  | 1198 | 953 |
| LYB International Finance III, LLC 3.625% 4/1/2051 |  | 2537 | 1708 |
| LYB International Finance III, LLC 3.80% 10/1/2060 |  | 1186 | 774 |
| Methanex Corp. 5.125% 10/15/2027 |  | 6300 | 5854 |
| Mineral Resources, Ltd. 8.50% 5/1/2030<sup>6</sup> |  | 1525 | 1548 |
| Mosaic Co. 4.05% 11/15/2027 |  | 1050 | 991 |
| Nova Chemicals Corp. 4.25% 5/15/2029<sup>6</sup> |  | 1875 | 1536 |
| Novelis Corp. 3.875% 8/15/2031<sup>6</sup> |  | 1115 | 912 |
| Praxair, Inc. 1.10% 8/10/2030 |  | 2938 | 2258 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028<sup>6</sup> |  | 3485 | 2997 |
| SCIH Salt Holdings, Inc. 6.625% 5/1/2029<sup>6</sup> |  | 1230 | 992 |
| Sherwin-Williams Company 3.125% 6/1/2024 |  | 275 | 267 |
| Sherwin-Williams Company 3.80% 8/15/2049 |  | 5208 | 3891 |
| South32 Treasury, Ltd. 4.35% 4/14/2032<sup>6</sup> |  | 1527 | 1311 |
| SPCM SA 3.375% 3/15/2030<sup>6</sup> |  | 600 | 484 |
| Venator Finance SARL 9.50% 7/1/2025<sup>6</sup> |  | 1825 | 1323 |
| Venator Finance SARL 5.75% 7/15/2025<sup>6</sup> |  | 5845 | 2005 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028<sup>6</sup> |  | 3400 | 3356 |
| Westlake Chemical Corp. 4.375% 11/15/2047 |  | 500 | 378 |
|  |  |  | **98004** |
| **Utilities 0.31%** |  |  |  |
| Ameren Corp. 2.50% 9/15/2024 |  | 969 | 927 |
| Calpine Corp. 3.75% 3/1/2031<sup>6</sup> |  | 1975 | 1593 |
| Commonwealth Edison Co. 4.35% 11/15/2045 |  | 1085 | 931 |
| Commonwealth Edison Co. 3.85% 3/15/2052 |  | 2600 | 2083 |
| Dominion Resources, Inc., junior subordinated, 3.071% 8/15/2024<sup>13</sup> |  | 920 | 887 |
| Duke Energy Carolinas, LLC 3.95% 11/15/2028 |  | 1250 | 1202 |
| Duke Energy Corp. 4.50% 8/15/2032 |  | 2000 | 1879 |
| Duke Energy Corp. 3.50% 6/15/2051 |  | 2000 | 1398 |
| Duke Energy Florida, LLC 3.20% 1/15/2027 |  | 1445 | 1366 |
| Duke Energy Indiana, Inc. 3.25% 10/1/2049 |  | 1225 | 856 |
| Duke Energy Progress, LLC 3.70% 10/15/2046 |  | 457 | 348 |
| Duke Energy Progress, LLC 2.50% 8/15/2050 |  | 202 | 122 |
| Duke Energy Progress, LLC 2.90% 8/15/2051 |  | 91 | 60 |
| Edison International 3.55% 11/15/2024 |  | 2200 | 2125 |
| EDP Finance BV 3.625% 7/15/2024<sup>6</sup> |  | 4100 | 3959 |
| Electricité de France SA 4.75% 10/13/2035<sup>6</sup> |  | 1250 | 1057 |
| Electricité de France SA 4.875% 9/21/2038<sup>6</sup> |  | 2750 | 2246 |
| Electricité de France SA 5.60% 1/27/2040 |  | 525 | 481 |
| Emera US Finance, LP 3.55% 6/15/2026 |  | 320 | 300 |
| Enersis Américas SA 4.00% 10/25/2026 |  | 245 | 233 |
| Entergy Corp. 2.80% 6/15/2030 |  | 3325 | 2816 |
| Eversource Energy 3.80% 12/1/2023 |  | 2730 | 2700 |
| FirstEnergy Corp. 3.40% 3/1/2050 |  | 2250 | 1489 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028<sup>6</sup> |  | 675 | 590 |
| NRG Energy, Inc. 3.625% 2/15/2031<sup>6</sup> |  | 1875 | 1429 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027 |  | 125 | 107 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031 |  | 2941 | 2289 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040 |  | 100 | 68 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050 |  | 1250 | 781 |
| PacifiCorp, First Mortgage Bonds, 4.125% 1/15/2049 |  | 4000 | 3293 |
| PG&E Corp. 5.00% 7/1/2028 |  | 3750 | 3429 |
| PG&E Corp. 5.25% 7/1/2030 |  | 3400 | 3099 |
| Public Service Electric and Gas Co. 3.60% 12/1/2047 |  | 548 | 419 |
| Public Service Electric and Gas Co. 3.15% 1/1/2050 |  | 2451 | 1727 |
| Southern California Edison Co. 2.85% 8/1/2029 |  | 4450 | 3877 |
| Southern California Edison Co. 6.00% 1/15/2034 |  | 2500 | 2620 |
| Southern California Edison Co. 5.75% 4/1/2035 |  | 675 | 675 |

---

150 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Utilities (continued)** |  |  |  |
| Southern California Edison Co. 5.35% 7/15/2035 | USD | 3000 | $2915 |
| Southern California Edison Co. 4.00% 4/1/2047 |  | 264 | 208 |
| Talen Energy Corp. 7.25% 5/15/2027<sup>6</sup> |  | 8334 | 8664 |
| Talen Energy Corp., Term Loan B, (3-month USD-LIBOR + 3.75%) 7.821% 7/8/2026<sup>9,14</sup> |  | 2815 | 2861 |
| Talen Energy Supply, LLC 7.625% 6/1/2028<sup>6</sup> |  | 1180 | 1232 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029<sup>6</sup> |  | 1030 | 903 |
| Virginia Electric and Power Co. 2.40% 3/30/2032 |  | 2575 | 2088 |
| Xcel Energy, Inc. 2.60% 12/1/2029 |  | 1950 | 1669 |
|  |  |  | **76001** |
| **Real estate 0.28%** |  |  |  |
| Alexandria Real Estate Equities, Inc. 3.80% 4/15/2026 |  | 315 | 305 |
| Alexandria Real Estate Equities, Inc. 3.95% 1/15/2028 |  | 1220 | 1148 |
| Alexandria Real Estate Equities, Inc. 2.75% 12/15/2029 |  | 1940 | 1654 |
| Alexandria Real Estate Equities, Inc. 3.375% 8/15/2031 |  | 1320 | 1155 |
| Alexandria Real Estate Equities, Inc. 1.875% 2/1/2033 |  | 4095 | 3056 |
| Alexandria Real Estate Equities, Inc. 4.85% 4/15/2049 |  | 410 | 349 |
| American Tower Corp. 1.45% 9/15/2026 |  | 2369 | 2070 |
| American Tower Corp. 3.55% 7/15/2027 |  | 1425 | 1322 |
| American Tower Corp. 3.60% 1/15/2028 |  | 1000 | 921 |
| American Tower Corp. 1.50% 1/31/2028 |  | 2500 | 2073 |
| American Tower Corp. 2.30% 9/15/2031 |  | 1500 | 1170 |
| American Tower Corp. 2.95% 1/15/2051 |  | 2000 | 1247 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029<sup>6</sup> |  | 2260 | 1712 |
| Essex Portfolio, LP 3.875% 5/1/2024 |  | 1000 | 980 |
| Essex Portfolio, LP 3.50% 4/1/2025 |  | 6825 | 6587 |
| Extra Space Storage, Inc. 2.35% 3/15/2032 |  | 1385 | 1051 |
| GLP Capital, LP 3.35% 9/1/2024 |  | 1263 | 1212 |
| Hospitality Properties Trust 4.35% 10/1/2024 |  | 560 | 510 |
| Host Hotels & Resorts, LP 4.50% 2/1/2026 |  | 355 | 341 |
| Howard Hughes Corp. 5.375% 8/1/2028<sup>6</sup> |  | 1450 | 1309 |
| Howard Hughes Corp. 4.125% 2/1/2029<sup>6</sup> |  | 1860 | 1560 |
| Howard Hughes Corp. 4.375% 2/1/2031<sup>6</sup> |  | 2690 | 2180 |
| Invitation Homes Operating Partnership, LP 2.00% 8/15/2031 |  | 2401 | 1780 |
| Iron Mountain, Inc. 5.25% 7/15/2030<sup>6</sup> |  | 3785 | 3298 |
| Iron Mountain, Inc. 4.50% 2/15/2031<sup>6</sup> |  | 2650 | 2184 |
| Kennedy-Wilson Holdings, Inc. 4.75% 3/1/2029 |  | 2645 | 2100 |
| Kennedy-Wilson Holdings, Inc. 4.75% 2/1/2030 |  | 1940 | 1482 |
| Kennedy-Wilson Holdings, Inc. 5.00% 3/1/2031 |  | 2260 | 1704 |
| Ladder Capital Finance Holdings LLLP 4.25% 2/1/2027<sup>6</sup> |  | 3757 | 3163 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029<sup>6</sup> |  | 2280 | 1933 |
| Public Storage 1.85% 5/1/2028 |  | 2490 | 2140 |
| Public Storage 1.95% 11/9/2028 |  | 2027 | 1733 |
| Public Storage 2.30% 5/1/2031 |  | 719 | 585 |
| RHP Hotel Properties, LP 4.50% 2/15/2029<sup>6</sup> |  | 1300 | 1123 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029<sup>6</sup> |  | 1240 | 1007 |
| Scentre Group 3.50% 2/12/2025<sup>6</sup> |  | 3075 | 2945 |
| Scentre Group 3.25% 10/28/2025<sup>6</sup> |  | 1000 | 939 |
| Scentre Group 3.75% 3/23/2027<sup>6</sup> |  | 2430 | 2241 |
| Sun Communities Operating, LP 2.30% 11/1/2028 |  | 1845 | 1540 |
| Sun Communities Operating, LP 2.70% 7/15/2031 |  | 876 | 694 |
| UDR, Inc. 2.95% 9/1/2026 |  | 760 | 699 |
| VICI Properties, LP 3.875% 2/15/2029<sup>6</sup> |  | 1367 | 1200 |
| VICI Properties, LP 4.625% 12/1/2029<sup>6</sup> |  | 532 | 485 |
| VICI Properties, LP 4.125% 8/15/2030<sup>6</sup> |  | 971 | 851 |
|  |  |  | **69738** |

---

American Funds Insurance Series 151

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Information technology 0.27%** |  |  |  |
| Adobe, Inc. 1.90% 2/1/2025 | USD | 366 | $346 |
| Almonde, Inc., Term Loan B, (3-month USD-LIBOR + 3.50%) 6.871% 6/13/2024<sup>9,14</sup> |  | 225 | 200 |
| Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 10.621% 6/13/2025<sup>9,14</sup> |  | 4150 | 3121 |
| Analog Devices, Inc. 1.70% 10/1/2028 |  | 1286 | 1092 |
| Analog Devices, Inc. 2.10% 10/1/2031 |  | 1212 | 982 |
| Analog Devices, Inc. 2.80% 10/1/2041 |  | 2961 | 2179 |
| Analog Devices, Inc. 2.95% 10/1/2051 |  | 1955 | 1327 |
| Apple, Inc. 3.00% 2/9/2024 |  | 625 | 613 |
| Apple, Inc. 3.35% 2/9/2027 |  | 40 | 38 |
| Apple, Inc. 1.20% 2/8/2028 |  | 5000 | 4245 |
| Apple, Inc. 3.95% 8/8/2052 |  | 3500 | 2994 |
| Block, Inc. 3.50% 6/1/2031 |  | 2325 | 1858 |
| Booz Allen Hamilton, Inc. 4.00% 7/1/2029<sup>6</sup> |  | 1000 | 882 |
| Broadcom, Inc. 1.95% 2/15/2028<sup>6</sup> |  | 1407 | 1191 |
| Broadcom, Inc. 2.60% 2/15/2033<sup>6</sup> |  | 2524 | 1901 |
| Broadcom, Inc. 3.469% 4/15/2034<sup>6</sup> |  | 1771 | 1418 |
| CommScope Finance, LLC 6.00% 3/1/2026<sup>6</sup> |  | 1600 | 1480 |
| Diebold Nixdorf, Inc. 9.375% 7/15/2025<sup>6</sup> |  | 10434 | 7462 |
| Diebold Nixdorf, Inc., units, 8.50% PIK or 8.50% Cash 10/15/2026<sup>3,6,16</sup> |  | 6909 | 4162 |
| Diebold Nixdorf, Inc., Term Loan, (USD-SOFR + 5.25%) 6.75% 7/15/2025<sup>3,9,14</sup> |  | 4731 | 3186 |
| Fidelity National Information Services, Inc. 3.10% 3/1/2041 |  | 302 | 209 |
| Finastra, Ltd., Term Loan B, (3-month EUR-EURIBOR + 3.00%) 4.00% 6/13/2024<sup>9,14</sup> | EUR | 1343 | 1243 |
| Fiserv, Inc. 3.50% 7/1/2029 | USD | 471 | 425 |
| Fiserv, Inc. 2.65% 6/1/2030 |  | 3605 | 3039 |
| Gartner, Inc. 4.50% 7/1/2028<sup>6</sup> |  | 650 | 607 |
| Intuit, Inc. 0.95% 7/15/2025 |  | 1530 | 1394 |
| Intuit, Inc. 1.35% 7/15/2027 |  | 1395 | 1209 |
| Intuit, Inc. 1.65% 7/15/2030 |  | 1845 | 1484 |
| Mastercard, Inc. 2.00% 11/18/2031 |  | 3874 | 3120 |
| Microsoft Corp. 2.921% 3/17/2052 |  | 4814 | 3431 |
| NCR Corp. 5.125% 4/15/2029<sup>6</sup> |  | 1650 | 1383 |
| PayPal Holdings, Inc. 2.65% 10/1/2026 |  | 662 | 612 |
| PayPal Holdings, Inc. 2.30% 6/1/2030 |  | 616 | 507 |
| Sabre GLBL, Inc. 7.375% 9/1/2025<sup>6</sup> |  | 946 | 911 |
| Sabre GLBL, Inc. 11.25% 12/15/2027<sup>6</sup> |  | 1157 | 1192 |
| Sabre Holdings Corp. 9.25% 4/15/2025<sup>6</sup> |  | 3122 | 3115 |
| Synaptics, Inc. 4.00% 6/15/2029<sup>6</sup> |  | 875 | 738 |
| Unisys Corp. 6.875% 11/1/2027<sup>6</sup> |  | 725 | 558 |
| VeriSign, Inc. 2.70% 6/15/2031 |  | 625 | 511 |
| Veritas US, Inc. 7.50% 9/1/2025<sup>6</sup> |  | 835 | 577 |
| Viavi Solutions, Inc. 3.75% 10/1/2029<sup>6</sup> |  | 725 | 611 |
|  |  |  | **67553** |
| **Consumer staples 0.23%** |  |  |  |
| 7-Eleven, Inc. 0.80% 2/10/2024<sup>6</sup> |  | 1700 | 1618 |
| 7-Eleven, Inc. 0.95% 2/10/2026<sup>6</sup> |  | 825 | 723 |
| 7-Eleven, Inc. 1.30% 2/10/2028<sup>6</sup> |  | 2500 | 2076 |
| Albertsons Companies, Inc. 3.50% 3/15/2029<sup>6</sup> |  | 1230 | 1035 |
| Altria Group, Inc. 3.40% 2/4/2041 |  | 1500 | 1000 |
| Altria Group, Inc. 3.70% 2/4/2051 |  | 1395 | 879 |
| Anheuser-Busch InBev NV 4.00% 4/13/2028 |  | 845 | 806 |
| Anheuser-Busch InBev NV 4.35% 6/1/2040 |  | 2500 | 2208 |
| Anheuser-Busch InBev NV 4.60% 4/15/2048 |  | 1500 | 1311 |
| British American Tobacco PLC 3.222% 8/15/2024 |  | 2826 | 2723 |
| British American Tobacco PLC 3.215% 9/6/2026 |  | 3323 | 3070 |
| British American Tobacco PLC 4.54% 8/15/2047 |  | 940 | 668 |
| Central Garden & Pet Co. 4.125% 4/30/2031<sup>6</sup> |  | 1395 | 1157 |
| Coca-Cola Company 1.00% 3/15/2028 |  | 940 | 787 |
| Conagra Brands, Inc. 1.375% 11/1/2027 |  | 4615 | 3852 |
| Constellation Brands, Inc. 3.60% 2/15/2028 |  | 625 | 580 |

---

152 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer staples (continued)** |  |  |  |
| Constellation Brands, Inc. 2.25% 8/1/2031 | USD | 1487 | $1185 |
| Coty, Inc. 4.75% 1/15/2029<sup>6</sup> |  | 1680 | 1523 |
| Imperial Tobacco Finance PLC 6.125% 7/27/2027<sup>6</sup> |  | 845 | 842 |
| Kronos Acquisition Holdings, Inc. 5.00% 12/31/2026<sup>6</sup> |  | 2990 | 2590 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030<sup>6</sup> |  | 2210 | 1955 |
| PepsiCo, Inc. 2.625% 10/21/2041 |  | 5000 | 3721 |
| PepsiCo, Inc. 3.625% 3/19/2050 |  | 777 | 639 |
| PepsiCo, Inc. 2.75% 10/21/2051 |  | 1723 | 1200 |
| Philip Morris International, Inc. 2.875% 5/1/2024 |  | 788 | 765 |
| Philip Morris International, Inc. 3.25% 11/10/2024 |  | 2000 | 1936 |
| Philip Morris International, Inc. 0.875% 5/1/2026 |  | 2990 | 2630 |
| Philip Morris International, Inc. 5.125% 11/17/2027 |  | 3073 | 3101 |
| Philip Morris International, Inc. 3.375% 8/15/2029 |  | 788 | 711 |
| Philip Morris International, Inc. 5.625% 11/17/2029 |  | 1482 | 1507 |
| Philip Morris International, Inc. 1.75% 11/1/2030 |  | 2956 | 2322 |
| Philip Morris International, Inc. 5.75% 11/17/2032 |  | 938 | 959 |
| Post Holdings, Inc. 4.625% 4/15/2030<sup>6</sup> |  | 2886 | 2496 |
| Prestige Brands International, Inc. 3.75% 4/1/2031<sup>6</sup> |  | 1115 | 921 |
| Reynolds American, Inc. 5.85% 8/15/2045 |  | 2030 | 1737 |
| Simmons Foods, Inc. 4.625% 3/1/2029<sup>6</sup> |  | 560 | 457 |
|  |  |  | **57690** |
| **Total corporate bonds, notes & loans** |  |  | **1396142** |
| **Asset-backed obligations 1.68%** |  |  |  |
| Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/2026<sup>6,8</sup> |  | 1050 | 1005 |
| Allegro CLO, Ltd., Series 2016-1A, Class AR2, (3-month USD-LIBOR + 0.95%) 5.029% 1/15/2030<sup>6,8,9</sup> |  | 2205 | 2182 |
| Allegro CLO, Ltd., Series 2017-1A, Class AR, (3-month USD-LIBOR + 0.95%) 5.029% 10/16/2030<sup>6,8,9</sup> |  | 1639 | 1612 |
| American Express Credit Account Master Trust, Series 2018-9, Class A, (1-month USD-LIBOR + 0.38%) 4.698% 4/15/2026<sup>8,9</sup> |  | 9000 | 8995 |
| Ares CLO, Ltd., Series 2017-42A, Class AR, (3-month USD-LIBOR + 0.92%) 5.245% 1/22/2028<sup>6,8,9</sup> |  | 2566 | 2538 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2017-2A, Class A, 2.97% 3/20/2024<sup>6,8</sup> |  | 960 | 957 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2018-1A, Class A, 3.70% 9/20/2024<sup>6,8</sup> |  | 1114 | 1103 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2018-2A, Class A, 4.00% 3/20/2025<sup>6,8</sup> |  | 3100 | 3049 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027<sup>6,8</sup> |  | 539 | 489 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027<sup>6,8</sup> |  | 138 | 124 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027<sup>6,8</sup> |  | 11617 | 10133 |
| BA Credit Card Trust, Series 2022-A2, Class A2, 5.00% 4/17/2028<sup>8</sup> |  | 6633 | 6706 |
| Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD-LIBOR + 1.00%) 5.675% 11/20/2030<sup>6,8,9</sup> |  | 3660 | 3614 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033<sup>6,8</sup> |  | 531 | 494 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037<sup>6,8</sup> |  | 4807 | 4092 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041<sup>6,8</sup> |  | 665 | 582 |
| Cent CLO, Ltd., Series 2014-21A, Class AR, (3-month USD-LIBOR + 0.97%) 5.328% 7/27/2030<sup>6,8,9</sup> |  | 5164 | 5089 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060<sup>6,8</sup> |  | 5191 | 4639 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060<sup>6,8</sup> |  | 1746 | 1444 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061<sup>6,8</sup> |  | 6093 | 5277 |
| Citibank Credit Card Issuance Trust, Series 2017-A5, Class A5, (1-month USD-LIBOR + 0.62%) 4.981% 4/22/2026<sup>8,9</sup> |  | 4960 | 4963 |

---

American Funds Insurance Series 153

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045<sup>6,8</sup> | USD | 1446 | $1245 |
| CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 9/18/2045<sup>6,8</sup> |  | 5382 | 4669 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045<sup>6,8</sup> |  | 1170 | 1017 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 2/18/2046<sup>6,8</sup> |  | 1607 | 1373 |
| Discover Card Execution Note Trust, Series 2018-A6, Class A6, (1-month USD-LIBOR + 0.39%) 4.708% 3/15/2026<sup>8,9</sup> |  | 11400 | 11397 |
| Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36% 3/16/2026<sup>8</sup> |  | 256 | 256 |
| DriveTime Auto Owner Trust, Series 2022-3, Class A, 6.05% 10/15/2026<sup>6,8</sup> |  | 6318 | 6335 |
| Dryden Senior Loan Fund, CLO, Series 2017-47A, Class A1R, (3-month USD-LIBOR + 0.98%) 5.059% 4/15/2028<sup>6,8,9</sup> |  | 5181 | 5131 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045<sup>6,8</sup> |  | 351 | 297 |
| Enterprise Fleet Financing, LLC, Series 2022-1, Class A2, 3.03% 1/20/2028<sup>6,8</sup> |  | 6513 | 6341 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029<sup>6,8</sup> |  | 3263 | 3192 |
| Enterprise Fleet Financing, LLC, Series 2022-4, Class A2, 5.76% 10/22/2029<sup>6,8</sup> |  | 5092 | 5109 |
| Exeter Automobile Receivables Trust, Series 2022-6, Class A2, 5.73% 11/17/2025<sup>8</sup> |  | 1100 | 1101 |
| FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/2037<sup>6,8</sup> |  | 5999 | 5320 |
| Flagship Credit Auto Trust, Series 2022-4, Class A2, 6.15% 9/15/2026<sup>6,8</sup> |  | 3272 | 3292 |
| Ford Credit Auto Owner Trust, Series 2018-2, Class A, 3.47% 1/15/2030<sup>6,8</sup> |  | 4825 | 4760 |
| Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.52% 7/15/2030<sup>6,8</sup> |  | 6000 | 5885 |
| Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19% 7/15/2031<sup>6,8</sup> |  | 9605 | 9181 |
| Ford Credit Auto Owner Trust, Series 2020-1, Class A, 2.04% 8/15/2031<sup>6,8</sup> |  | 8861 | 8318 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045<sup>6,8</sup> |  | 685 | 604 |
| GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/2045<sup>6,8</sup> |  | 275 | 245 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039<sup>6,8</sup> |  | 2443 | 2294 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040<sup>6,8</sup> |  | 10273 | 9116 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040<sup>6,8</sup> |  | 12830 | 11408 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041<sup>6,8</sup> |  | 4021 | 3468 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041<sup>6,8</sup> |  | 5992 | 5201 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041<sup>6,8</sup> |  | 474 | 402 |
| Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 3.65% 6/30/2023<sup>3,6,8</sup> |  | 5930 | 5689 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 12/26/2025<sup>6,8</sup> |  | 8452 | 7816 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 12/26/2025<sup>6,8</sup> |  | 634 | 581 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class C, 2.05% 12/26/2025<sup>6,8</sup> |  | 405 | 365 |
| Hertz Vehicle Financing III, LLC, Series 2022-4A, Class A, 3.73% 9/25/2026<sup>6,8</sup> |  | 8390 | 8026 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027<sup>6,8</sup> |  | 5565 | 4853 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027<sup>6,8</sup> |  | 685 | 588 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027<sup>6,8</sup> |  | 429 | 355 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 6/26/2028<sup>6,8</sup> |  | 4900 | 4305 |
| Hertz Vehicle Financing III, LLC, Series 2022-5A, Class A, 3.89% 9/25/2028<sup>6,8</sup> |  | 8750 | 8096 |
| Longfellow Place CLO, Ltd., Series 2013-1A, Class AR3, (3-month USD-LIBOR + 1.00%) 5.079% 4/15/2029<sup>6,8,9</sup> |  | 1090 | 1087 |
| Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2, (3-month USD-LIBOR + 1.00%) 5.278% 7/21/2030<sup>6,8,9</sup> |  | 5497 | 5411 |
| Marathon CLO, Ltd., Series 2017-9A, Class A1AR, (3-month USD-LIBOR + 1.15%) 5.229% 4/15/2029<sup>6,8,9</sup> |  | 2311 | 2288 |
| Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.54% 3/20/2026<sup>6,8</sup> |  | 4700 | 4486 |
| Mission Lane Credit Card Master Trust, Series 2021-A, Class A, 1.59% 9/15/2026<sup>6,8</sup> |  | 1900 | 1840 |
| Mission Lane Credit Card Master Trust, Series 2022-A, Class A, 6.92% 9/15/2027<sup>6,8</sup> |  | 2531 | 2473 |
| Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 10/15/2069<sup>6,8</sup> |  | 5085 | 4327 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070<sup>6,8</sup> |  | 5969 | 5062 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046<sup>6,8</sup> |  | 6343 | 5341 |
| Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 4/20/2062<sup>6,8</sup> |  | 10468 | 9303 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062<sup>6,8</sup> |  | 5889 | 5217 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062<sup>6,8</sup> |  | 10010 | 8901 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061<sup>6,8</sup> |  | 23051 | 19520 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD-LIBOR + 0.97%) 5.328% 7/25/2030<sup>6,8,9</sup> |  | 1752 | 1733 |
| Palmer Square Loan Funding, CLO, Series 2020-4, Class A1, (3-month USD-LIBOR + 1.00%) 5.757% 11/25/2028<sup>6,8,9</sup> |  | 1415 | 1405 |

---

154 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Palmer Square Loan Funding, CLO, Series 2021-1, Class A1, (3-month USD-LIBOR + 0.90%) 5.143% 4/20/2029<sup>6,8,9</sup> | USD | 437 | $433 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A1, (3-month USD-LIBOR + 0.80%) 4.879% 10/15/2029<sup>6,8,9</sup> |  | 8431 | 8324 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD-LIBOR + 1.40%) 5.479% 10/15/2029<sup>6,8,9</sup> |  | 5378 | 5207 |
| Palmer Square Loan Funding, CLO, Series 2022-5, Class A1, (3-month USD CME Term SOFR + 1.56%) 4.084% 1/15/2031<sup>6,8,9</sup> |  | 5871 | 5838 |
| PG&E Wildfire Recovery Funding, LLC, Series 2022-A, Class A2, 4.263% 6/1/2036<sup>8</sup> |  | 2725 | 2534 |
| PPM CLO, Ltd., Series 2022-6, Class A, (3-month USD CME Term SOFR + 2.45%) 2.45% 1/20/2031<sup>6,8,9</sup> |  | 9947 | 9947 |
| Race Point CLO, Ltd., Series 2015-9A, Class A1A2, (3-month USD-LIBOR + 0.94%) 5.019% 10/15/2030<sup>6,8,9</sup> |  | 4634 | 4571 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class A2, 3.98% 1/15/2025<sup>8</sup> |  | 4359 | 4337 |
| Santander Drive Auto Receivables Trust, Series 2020-1, Class C, 4.11% 12/15/2025<sup>8</sup> |  | 646 | 643 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class A2, 5.81% 1/15/2026<sup>8</sup> |  | 1987 | 1991 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class A3, 4.11% 8/17/2026<sup>8</sup> |  | 4101 | 4027 |
| SMB Private Education Loan Trust, Series 2021-A, Class A2A2, (1-month USD-LIBOR + 0.73%) 5.048% 1/15/2053<sup>6,8,9</sup> |  | 6531 | 6256 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046<sup>6,8</sup> |  | 3451 | 2775 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046<sup>6,8</sup> |  | 4820 | 4182 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041<sup>6,8</sup> |  | 4782 | 4039 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033<sup>6,8</sup> |  | 2480 | 2209 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033<sup>6,8</sup> |  | 2048 | 1770 |
| Stratus Static CLO, Ltd., Series 2022-3, Class A, (3-month USD CME Term SOFR + 2.15%) 6.678% 10/20/2031<sup>6,8,9</sup> |  | 7500 | 7500 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075<sup>6,8</sup> |  | 3286 | 2989 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045<sup>6,8</sup> |  | 1820 | 1599 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045<sup>6,8</sup> |  | 801 | 699 |
| Textainer Marine Containers, Ltd., Series 2021-1A, Class A, 1.68% 2/20/2046<sup>6,8</sup> |  | 924 | 778 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046<sup>6,8</sup> |  | 2661 | 2267 |
| Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 11/25/2031<sup>6,8</sup> |  | 3250 | 3134 |
| Toyota Auto Loan Extended Note Trust, Series 2020-1, Class A, 1.35% 5/25/2033<sup>6,8</sup> |  | 889 | 814 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034<sup>6,8,9</sup> |  | 7257 | 6439 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045<sup>6,8</sup> |  | 10345 | 8870 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046<sup>6,8</sup> |  | 1823 | 1523 |
| Westlake Automobile Receivables Trust, Series 2022-3, Class A2, 5.24% 7/15/2025<sup>6,8</sup> |  | 6521 | 6506 |
|  |  |  | **417313** |
| **Bonds & notes of governments & government agencies outside the U.S. 0.17%** |  |  |  |
| CPPIB Capital, Inc. 2.75% 11/2/2027<sup>6</sup> |  | 6600 | 6096 |
| European Investment Bank 0.75% 10/26/2026 |  | 6194 | 5433 |
| OMERS Finance Trust 3.50% 4/19/2032<sup>6</sup> |  | 4315 | 3905 |
| OMERS Finance Trust 4.00% 4/19/2052<sup>6</sup> |  | 4315 | 3459 |
| Panama (Republic of) 3.298% 1/19/2033 |  | 4365 | 3545 |
| Panama (Republic of) 4.50% 1/19/2063 |  | 1035 | 733 |
| Peru (Republic of) 1.862% 12/1/2032 |  | 2525 | 1848 |
| Peru (Republic of) 2.78% 12/1/2060 |  | 3775 | 2214 |
| Qatar (State of) 3.375% 3/14/2024<sup>6</sup> |  | 2315 | 2271 |
| Qatar (State of) 4.00% 3/14/2029<sup>6</sup> |  | 745 | 733 |
| Qatar (State of) 4.817% 3/14/2049<sup>6</sup> |  | 750 | 731 |
| Swedish Export Credit Corp. 3.625% 9/3/2024 |  | 5089 | 4993 |
| United Mexican States 2.659% 5/24/2031 |  | 2703 | 2187 |
| United Mexican States 4.875% 5/19/2033 |  | 1790 | 1647 |
| United Mexican States 3.771% 5/24/2061 |  | 1528 | 971 |
|  |  |  | **40766** |

---

American Funds Insurance Series 155

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Municipals 0.14%** |  |  |  |
| **California 0.02%** |  |  |  |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 2.158% 6/1/2026 | USD | 1200 | $1079 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 2.332% 6/1/2027 |  | 1660 | 1454 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 6/1/2034 |  | 495 | 398 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 3.293% 6/1/2042 |  | 1170 | 869 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 3.00% 6/1/2046 |  | 2470 | 2288 |
|  |  |  | **6088** |
| **Connecticut 0.00%** |  |  |  |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-A-1, 4.00% 11/15/2044 |  | 5 | 5 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 11/15/2044 |  | 10 | 10 |
|  |  |  | **15** |
| **Florida 0.04%** |  |  |  |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.705% 7/1/2027 |  | 5335 | 4649 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 7/1/2030 |  | 5365 | 4399 |
|  |  |  | **9048** |
| **Guam 0.00%** |  |  |  |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2021-A, 3.839% 10/1/2036 |  | 240 | 196 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2021-A, 4.46% 10/1/2043 |  | 315 | 246 |
|  |  |  | **442** |
| **Illinois 0.01%** |  |  |  |
| G.O. Bonds, Pension Funding, Series 2003, Assured Guaranty Municipal insured, 5.10% 6/1/2033 |  | **4125** | **3952** |
| **Maryland 0.00%** |  |  |  |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Ref. Bonds, Series 2014-E, 2.857% 9/1/2040 |  | **10** | **10** |
| **Minnesota 0.00%** |  |  |  |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-A, 4.00% 7/1/2038 |  | **30** | **30** |
| **New York 0.03%** |  |  |  |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 1.187% 3/15/2026 (escrowed to maturity) |  | 2865 | 2556 |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 1.748% 3/15/2028 |  | 4745 | 4036 |
|  |  |  | **6592** |
| **Ohio 0.02%** |  |  |  |
| Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series 2021, 4.425% 5/1/2031 |  | **5110** | **4314** |
| **South Carolina 0.00%** |  |  |  |
| Housing Fin. Auth., Mortgage Rev. Ref. Bonds, Series 2014, AMT, 4.00% 7/1/2041 |  | **10** | **10** |

---

156 American Funds Insurance Series

Asset Allocation Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Municipals (continued)** |  |  |  |
| **South Dakota 0.00%** |  |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-F, 4.00% 5/1/2034 | **USD** | **5** | $**5** |
| **Tennessee 0.00%** |  |  |  |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 7/1/2043 |  | **5** | **5** |
| **Wisconsin 0.02%** |  |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034 |  | **5865** | **5213** |
| **Total municipals** |  |  | **35724** |
| **Total bonds, notes & other debt instruments** (cost: $5,829,150,000) |  |  | **5385913** |
| **Short-term securities 6.82%** |  | Shares |  |
| **Money market investments 6.61%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>7,17</sup> |  | **16398802** | **1639716** |
| **Money market investments purchased with collateral from securities on loan 0.21%** | **Money market investments purchased with collateral from securities on loan 0.21%** | **Money market investments purchased with collateral from securities on loan 0.21%** |  |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.15%<sup>17,18</sup> |  | 20644758 | 20645 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.22%<sup>17,18</sup> |  | 17940546 | 17940 |
| Capital Group Central Cash Fund 4.31%<sup>7,17,18</sup> |  | 126229 | 12622 |
|  |  |  | **51207** |
| **Total short-term securities** (cost: $1,690,721,000) |  |  | **1690923** |
| **Total investment securities 102.09%** (cost: $21,116,750,000) |  |  | **25318386** |
| Other assets less liabilities (2.09)% |  |  | (517812) |
| **Net assets 100.00%** |  |  | $**24800574** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2022<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Long | 543 | March 2023 | USD111,357 | $139 |
| 5 Year U.S. Treasury Note Futures | Long | 2120 | March 2023 | 228811 | (257) |
| 10 Year U.S. Treasury Note Futures | Long | 1324 | March 2023 | 148681 | (1571) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 3101 | March 2023 | (366790) | 2180 |
| 20 Year U.S. Treasury Bond Futures | Long | 960 | March 2023 | 120330 | (1534) |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 53 | March 2023 | 7119 | (123) |
|  |  |  |  |  | $(1166) |

---

American Funds Insurance Series 157

Asset Allocation Fund (continued)

**Swap contracts**

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> index** | **Financing<br> rate paid** | **Payment<br> frequency** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Value at<br> 12/31/2022<br> (000)** | **Upfront<br> premium<br> received<br> (000)** | **Unrealized<br> depreciation<br> at 12/31/2022<br> (000)** |
| CDX.NA.IG.39 | 1.00% | Quarterly | 12/20/2027 | USD238,057 | $(1903) | $(280) | $(1623) |

---

**Investments in affiliates<sup>7</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> appreciation<br> (depreciation)<br> (000)** | **Value of<br> affiliates at 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Common stocks 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Health care 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NuCana PLC (ADR)<sup>19</sup> | $7086 | $— | $2674 | $(14288) | $9876 | $— | $— |
| **Investment funds 5.51%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Corporate Bond Fund | 1617261 | 83203 | 40000 | (10186) | (283156) | 1367122 | 43890 |
| **Short-term securities 6.66%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 6.61%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>17</sup> | 1417334 | 4300144 | 4077429 | (250) | (83) | 1639716 | 36585 |
| **Money market investments purchased with collateral from securities on loan 0.05%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>17,18</sup> | 8492 | 4130<sup>20</sup> |  |  |  | 12622 | —<sup>21</sup> |
| **Total short-term securities** |  |  |  |  |  | 1652338 |  |
| **Total 12.17%** |  |  |  | $(24724) | $(273363) | $3019460 | $80475 |

---

**Restricted securities<sup>4</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Acquisition<br> date** | **Cost<br> (000)** | **Value<br> (000)** | **Percent<br> of net<br> assets** |
| Carbon Health Technologies, Inc., convertible preferred shares, 1.00% 7/9/2024 <sup>3</sup> | 7/9/2021 | $50000 | $63388 | .26% |
| Rotech Healthcare, Inc.<sup>1,3</sup> | 8/22/2014 | 6949 | 19703 | .08 |
| **Total** |  | $56949 | $83091 | .34% |

---

158 American Funds Insurance Series

Asset Allocation Fund (continued)

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> All or a portion of this security was on loan. The total value of all such securities was $67,688,000, which represented .27% of the net assets of the fund. Refer to Note 5 for more information on securities lending.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $83,091,000, which represented .33% of the net assets of the fund.

<sup>5</sup> Amount less than one thousand.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,155,580,000, which represented 4.66% of the net assets of the fund.

<sup>7</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>8</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>9</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>10</sup> Purchased on a TBA basis.

<sup>11</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $8,779,000, which represented .04% of the net assets of the fund.

<sup>12</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>13</sup> Step bond; coupon rate may change at a later date.

<sup>14</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $8,799,000, which represented .04% of the net assets of the fund.

<sup>15</sup> Scheduled interest and/or principal payment was not received.

<sup>16</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.

<sup>17</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>18</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>19</sup> Affiliated issuer during the reporting period but no longer held at 12/31/2022.

<sup>20</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>21</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

**Key to abbreviations**

ADR = American Depositary Receipts

Agcy. = Agency

AMT = Alternative Minimum Tax

Assn. = Association

Auth. = Authority

CAD = Canadian dollars

CLO = Collateralized Loan Obligations

CME = CME Group

CMO = Collateralized Mortgage Obligations

DAC = Designated Activity Company

Dept. = Department

Dev. = Development

EUR = Euros

EURIBOR = Euro Interbank Offered Rate

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

LIBOR = London Interbank Offered Rate

PIK = Payment In Kind

Ref. = Refunding

REIT = Real Estate Investment Trust

Rev. = Revenue

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Insurance Series 159

American Funds Global Balanced Fund

(formerly Global Balanced Fund)

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Common stocks 58.58%** | Shares | Value<br> (000) |
| **Financials 10.64%** |  |  |
| Zurich Insurance Group AG | 10777 | $5150 |
| B3 SA-Brasil, Bolsa, Balcao | 2047634 | 5123 |
| HDFC Bank, Ltd. (ADR) | 25988 | 1778 |
| HDFC Bank, Ltd. | 79465 | 1564 |
| DNB Bank ASA | 156181 | 3092 |
| AIA Group, Ltd. | 195894 | 2158 |
| Toronto-Dominion Bank (CAD denominated) | 32954 | 2134 |
| PNC Financial Services Group, Inc. | 11839 | 1870 |
| Kotak Mahindra Bank, Ltd. | 78279 | 1722 |
| DBS Group Holdings, Ltd. | 55100 | 1395 |
| Citigroup, Inc. | 30627 | 1385 |
| BlackRock, Inc. | 1886 | 1337 |
| ING Groep NV | 98239 | 1199 |
| United Overseas Bank, Ltd. | 47600 | 1092 |
| BNP Paribas SA | 12920 | 735 |
| Nasdaq, Inc. | 11966 | 734 |
| JPMorgan Chase & Co. | 5371 | 720 |
| KBC Groep NV | 11130 | 715 |
| Münchener Rückversicherungs-Gesellschaft AG | 1931 | 628 |
| Aegon NV | 122629 | 622 |
| Bank Central Asia Tbk PT | 1108100 | 608 |
| Tryg A/S | 24243 | 575 |
| Banco Santander, SA | 176586 | 529 |
| Ping An Insurance (Group) Company of China, Ltd., Class H | 66500 | 439 |
| Ping An Insurance (Group) Company of China, Ltd., Class A | 11400 | 77 |
| FinecoBank SpA | 26543 | 442 |
| Great-West Lifeco, Inc. | 17334 | 401 |
| CME Group, Inc., Class A | 2292 | 385 |
| Fairfax Financial Holdings, Ltd., subordinate voting shares | 506 | 300 |
| Allfunds Group PLC | 18078 | 126 |
| Lufax Holding, Ltd. (ADR) | 47602 | 92 |
|  |  | **39127** |
| **Industrials 8.37%** |  |  |
| Raytheon Technologies Corp. | 71227 | 7188 |
| General Electric Co. | 39535 | 3313 |
| BAE Systems PLC | 264063 | 2729 |
| Thales SA | 20022 | 2560 |
| General Dynamics Corp. | 8468 | 2101 |
| Carrier Global Corp. | 49012 | 2022 |
| L3Harris Technologies, Inc. | 9073 | 1889 |
| Siemens AG | 13373 | 1856 |
| Honeywell International, Inc. | 6585 | 1411 |
| RELX PLC | 46732 | 1295 |
| CSX Corp. | 38467 | 1192 |
| LIXIL Corp. | 54500 | 831 |
| Deutsche Post AG | 17657 | 665 |
| Safran SA | 4525 | 565 |
| Trelleborg AB, Class B | 11334 | 262 |
| Brenntag SE | 3756 | 240 |
| Melrose Industries PLC | 141781 | 230 |
| Airbus SE, non-registered shares | 1805 | 215 |
| NIBE Industrier AB, Class B | 21550 | 201 |
|  |  | **30765** |
| **Health care 7.78%** |  |  |
| Abbott Laboratories | 57298 | 6291 |
| Gilead Sciences, Inc. | 30992 | 2661 |
| Novartis AG | 28897 | 2617 |
| Siemens Healthineers AG | 51525 | 2578 |
| UnitedHealth Group, Inc. | 4540 | 2407 |

---

160 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Health care (continued)** |  |  |
| Thermo Fisher Scientific, Inc. | 3354 | $1847 |
| AstraZeneca PLC | 12615 | 1712 |
| Merck KGaA | 8165 | 1581 |
| AbbVie, Inc. | 8136 | 1315 |
| Stryker Corp. | 3999 | 978 |
| Amgen, Inc. | 3365 | 884 |
| Medtronic PLC | 11261 | 875 |
| Eurofins Scientific SE, non-registered shares | 11316 | 815 |
| BioMarin Pharmaceutical, Inc.<sup>1</sup> | 6615 | 685 |
| Humana, Inc. | 1166 | 597 |
| Bayer AG | 10117 | 522 |
| Takeda Pharmaceutical Company, Ltd. | 8400 | 262 |
|  |  | **28627** |
| **Information technology 6.47%** |  |  |
| Broadcom, Inc. | 16303 | 9115 |
| Microsoft Corp. | 31123 | 7464 |
| Micron Technology, Inc. | 44625 | 2230 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 97000 | 1414 |
| GlobalWafers Co., Ltd. | 86000 | 1195 |
| ServiceNow, Inc.<sup>1</sup> | 2184 | 848 |
| Accenture PLC, Class A | 3024 | 807 |
| Apple, Inc. | 3194 | 415 |
| Applied Materials, Inc. | 2383 | 232 |
| Texas Instruments, Inc. | 380 | 63 |
|  |  | **23783** |
| **Consumer staples 5.34%** |  |  |
| Nestlé SA | 35802 | 4135 |
| Philip Morris International, Inc. | 36010 | 3645 |
| ITC, Ltd. | 833272 | 3340 |
| Imperial Brands PLC | 95936 | 2397 |
| Seven & i Holdings Co., Ltd. | 39200 | 1677 |
| Pernod Ricard SA | 5580 | 1097 |
| British American Tobacco PLC | 27475 | 1090 |
| Heineken NV | 7506 | 705 |
| Altria Group, Inc. | 14317 | 654 |
| Inner Mongolia Yili Industrial Group Co., Ltd., Class A | 104700 | 465 |
| Treasury Wine Estates, Ltd. | 27708 | 256 |
| Kweichow Moutai Co., Ltd., Class A | 721 | 178 |
|  |  | **19639** |
| **Utilities 4.80%** |  |  |
| DTE Energy Company | 29637 | 3483 |
| Power Grid Corporation of India, Ltd. | 1007658 | 2594 |
| NextEra Energy, Inc. | 28214 | 2359 |
| Duke Energy Corp. | 16849 | 1735 |
| E.ON SE | 157688 | 1574 |
| Entergy Corp. | 10025 | 1128 |
| Iberdrola, SA, non-registered shares | 77458 | 906 |
| ENN Energy Holdings, Ltd. | 64000 | 893 |
| Dominion Energy, Inc. | 14276 | 875 |
| National Grid PLC | 65238 | 784 |
| Enel SpA | 122240 | 657 |
| SembCorp Industries, Ltd. | 187100 | 471 |
| Public Service Enterprise Group, Inc. | 3391 | 208 |
|  |  | **17667** |

---

American Funds Insurance Series 161

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value<br> (000) |
| **Materials 4.33%** |  |  |
| Freeport-McMoRan, Inc. | 87143 | $3311 |
| Linde PLC | 6504 | 2122 |
| BHP Group, Ltd. (CDI) | 62248 | 1919 |
| Evonik Industries AG | 96394 | 1851 |
| Fortescue Metals Group, Ltd. | 126401 | 1762 |
| Rio Tinto PLC | 20187 | 1417 |
| Shin-Etsu Chemical Co., Ltd. | 11000 | 1340 |
| Vale SA (ADR), ordinary nominative shares | 64102 | 1088 |
| UPM-Kymmene OYJ | 15079 | 565 |
| International Flavors & Fragrances, Inc. | 2739 | 287 |
| Air Liquide SA, non-registered shares | 1874 | 267 |
|  |  | **15929** |
| **Energy 4.02%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated) | 125963 | 6995 |
| Neste OYJ | 40724 | 1881 |
| Shell PLC (GBP denominated) | 54477 | 1548 |
| Chevron Corp. | 8045 | 1444 |
| BP PLC | 184567 | 1073 |
| DT Midstream, Inc. | 10284 | 568 |
| Baker Hughes Co., Class A | 17643 | 521 |
| TC Energy Corp. (CAD denominated) | 12080 | 482 |
| Woodside Energy Group, Ltd. (CDI) | 10942 | 264 |
|  |  | **14776** |
| **Communication services 3.14%** |  |  |
| Alphabet, Inc., Class A<sup>1</sup> | 19243 | 1698 |
| Alphabet, Inc., Class C<sup>1</sup> | 7907 | 701 |
| Netflix, Inc.<sup>1</sup> | 8029 | 2368 |
| Singapore Telecommunications, Ltd. | 782600 | 1502 |
| Comcast Corp., Class A | 30643 | 1072 |
| BCE, Inc. | 22635 | 995 |
| Omnicom Group, Inc. | 10624 | 867 |
| Universal Music Group NV | 31035 | 749 |
| SoftBank Corp. | 54400 | 615 |
| Meta Platforms, Inc., Class A<sup>1</sup> | 4089 | 492 |
| Electronic Arts, Inc. | 4021 | 491 |
|  |  | **11550** |
| **Consumer discretionary 2.27%** |  |  |
| LVMH Moët Hennessy-Louis Vuitton SE | 2423 | 1760 |
| Cie. Financière Richemont SA, Class A | 8551 | 1107 |
| Ferrari NV | 3990 | 855 |
| Ferrari NV (EUR denominated) | 1039 | 222 |
| General Motors Company | 27725 | 933 |
| Tesla, Inc.<sup>1</sup> | 7350 | 905 |
| InterContinental Hotels Group PLC | 12297 | 708 |
| Starbucks Corp. | 4596 | 456 |
| Royal Caribbean Cruises, Ltd.<sup>1</sup> | 8302 | 410 |
| Astra International Tbk PT | 1050300 | 383 |
| Aptiv PLC<sup>1</sup> | 2518 | 234 |
| D.R. Horton, Inc. | 2232 | 199 |
| Airbnb, Inc., Class A<sup>1</sup> | 1851 | 158 |
| JD.com, Inc., Class A | 1200 | 34 |
|  |  | **8364** |

---

162 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Common stocks** (continued) |  | Shares | Value<br> (000) |
| **Real estate 1.42%** |  |  |  |
| Embassy Office Parks REIT |  | 342621 | $1390 |
| Equinix, Inc. REIT |  | 2059 | 1349 |
| CTP NV |  | 104148 | 1226 |
| Digital Realty Trust, Inc. REIT |  | 4683 | 470 |
| Crown Castle, Inc. REIT |  | 3025 | 410 |
| Americold Realty Trust, Inc. REIT |  | 12798 | 362 |
|  |  |  | **5207** |
| **Total common stocks** (cost: $194,190,000) |  |  | **215434** |
| **Preferred securities 0.40%** |  |  |  |
| **Financials 0.25%** |  |  |  |
| Fannie Mae, Series S, 8.25% noncumulative preferred shares<sup>1</sup> |  | 223000 | 522 |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares<sup>1</sup> |  | 192000 | 389 |
|  |  |  | **911** |
| **Consumer discretionary 0.15%** |  |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares<sup>1</sup> |  | **5497** | **558** |
| **Total preferred securities** (cost: $1,986,000) |  |  | **1469** |
| **Convertible stocks 0.34%** |  |  |  |
| **Utilities 0.23%** |  |  |  |
| NextEra Energy, Inc., noncumulative convertible preferred units, 6.926% 9/1/2025 |  | **16500** | **828** |
| **Health care 0.11%** |  |  |  |
| Danaher Corp., Series B, cumulative convertible preferred shares, 5.00% 4/15/2023 |  | **300** | **407** |
| **Total convertible stocks** (cost: $1,214,000) |  |  | **1235** |
| **Investment funds 1.50%** |  |  |  |
| Capital Group Central Corporate Bond Fund<sup>2</sup> |  | **678772** | **5532** |
| **Total investment funds** (cost: $5,481,000) |  |  | **5532** |
| **Bonds, notes & other debt instruments 34.19%** |  | Principal amount<br> (000) |  |
| **Bonds & notes of governments & government agencies outside the U.S. 13.26%** | **Bonds & notes of governments & government agencies outside the U.S. 13.26%** | **Bonds & notes of governments & government agencies outside the U.S. 13.26%** |  |
| Abu Dhabi (Emirate of) 0.75% 9/2/2023<sup>3</sup> | USD | 275 | 267 |
| Agricultural Development Bank of China 3.75% 1/25/2029 | CNY | 550 | 83 |
| Asian Development Bank 1.125% 6/10/2025 | GBP | 100 | 112 |
| Australia (Commonwealth of), Series 152, 2.75% 11/21/2028 | AUD | 310 | 200 |
| Australia (Commonwealth of), Series 157, 1.50% 6/21/2031 |  | 1055 | 591 |
| Australia (Commonwealth of), Series 163, 1.00% 11/21/2031 |  | 150 | 79 |
| Australia (Commonwealth of), Series 166, 3.00% 11/21/2033 |  | 2250 | 1388 |
| Austria (Republic of) 0% 2/20/2031 | EUR | 660 | 553 |
| Brazil (Federative Republic of) 10.00% 1/1/2023 | BRL | 600 | 108 |
| Brazil (Federative Republic of) 0% 1/1/2024 |  | 1700 | 284 |
| Brazil (Federative Republic of) 10.00% 1/1/2025 |  | 900 | 163 |
| Canada 0.75% 10/1/2024 | CAD | 1125 | 785 |
| Canada 2.25% 6/1/2025 |  | 1400 | 998 |
| Canada 0.25% 3/1/2026 |  | 570 | 378 |
| Canada 3.50% 3/1/2028 |  | 1009 | 749 |
| Chile (Republic of) 4.70% 9/1/2030 | CLP | 245000 | 279 |

---

American Funds Insurance Series 163

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |  |
| China (People's Republic of), Series 1910, 3.86% 7/22/2049 | CNY | 2110 | $336 |
| China (People's Republic of), Series INBK, 3.39% 3/16/2050 |  | 1600 | 235 |
| China (People's Republic of), Series INBK, 3.81% 9/14/2050 |  | 10290 | 1626 |
| China Development Bank Corp., Series 2008, 2.89% 6/22/2025 |  | 3240 | 470 |
| China Development Bank Corp., Series 2004, 3.43% 1/14/2027 |  | 1060 | 156 |
| China Development Bank Corp., Series 2009, 3.39% 7/10/2027 |  | 8580 | 1258 |
| China Development Bank Corp., Series 1805, 4.88% 2/9/2028 |  | 2040 | 322 |
| Colombia (Republic of), Series B, 5.75% 11/3/2027 | COP | 2331300 | 365 |
| Colombia (Republic of), Series B, 7.00% 3/26/2031 |  | 5308700 | 776 |
| European Investment Bank 0.375% 9/15/2027 | EUR | 110 | 105 |
| European Investment Bank 0.25% 1/20/2032 |  | 860 | 717 |
| European Union 0% 7/6/2026 |  | 100 | 97 |
| European Union 0.25% 10/22/2026 |  | 50 | 48 |
| French Republic O.A.T. 0.75% 2/25/2028 |  | 640 | 618 |
| French Republic O.A.T. 0% 11/25/2030 |  | 1320 | 1128 |
| French Republic O.A.T. 0% 5/25/2032 |  | 650 | 527 |
| French Republic O.A.T. 2.00% 11/25/2032 |  | 610 | 596 |
| French Republic O.A.T. 3.25% 5/25/2045 |  | 160 | 171 |
| Germany (Federal Republic of) 0% 4/16/2027 |  | 950 | 915 |
| Germany (Federal Republic of) 0% 8/15/2031 |  | 2600 | 2258 |
| Germany (Federal Republic of) 0% 2/15/2032 |  | 540 | 463 |
| Germany (Federal Republic of) 1.70% 8/15/2032 |  | 1129 | 1127 |
| Germany (Federal Republic of) 1.00% 5/15/2038 |  | 640 | 548 |
| Germany (Federal Republic of) 0% 8/15/2050 |  | 200 | 112 |
| Germany (Federal Republic of) 0% 8/15/2052 |  | 260 | 139 |
| Greece (Hellenic Republic of) 3.45% 4/2/2024 |  | 110 | 118 |
| Greece (Hellenic Republic of) 3.375% 2/15/2025 |  | 300 | 321 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032 |  | 790 | 668 |
| India (Republic of) 5.15% 11/9/2025 | INR | 8000 | 92 |
| Indonesia (Republic of), Series 78, 8.25% 5/15/2029 | IDR | 1833000 | 127 |
| Indonesia (Republic of), Series 87, 6.50% 2/15/2031 |  | 1253000 | 78 |
| Israel (State of) 2.875% 1/29/2024 | EUR | 200 | 213 |
| Israel (State of) 1.50% 1/18/2027 |  | 100 | 100 |
| Italy (Republic of) 1.35% 4/1/2030 |  | 660 | 581 |
| Italy (Republic of) 2.50% 12/1/2032 |  | 650 | 583 |
| Japan, Series 17, 0.10% 9/10/2023<sup>4</sup> | JPY | 10900 | 84 |
| Japan, Series 18, 0.10% 3/10/2024<sup>4</sup> |  | 21660 | 169 |
| Japan, Series 19, 0.10% 9/10/2024<sup>4</sup> |  | 31620 | 247 |
| Japan, Series 150, 0.005% 12/20/2026 |  | 84950 | 644 |
| Japan, Series 22, 0.10% 3/10/2027<sup>4</sup> |  | 26454 | 211 |
| Japan, Series 346, 0.10% 3/20/2027 |  | 134150 | 1018 |
| Japan, Series 363, 0.10% 6/20/2031 |  | 56000 | 412 |
| Japan, Series 365, 0.10% 12/20/2031 |  | 317600 | 2340 |
| Japan, Series 152, 1.20% 3/20/2035 |  | 264400 | 2109 |
| Japan, Series 179, 0.50% 12/20/2041 |  | 71600 | 476 |
| Japan, Series 42, 1.70% 3/20/2044 |  | 50150 | 408 |
| Japan, Series 37, 0.60% 6/20/2050 |  | 26950 | 162 |
| Japan, Series 74, 1.00% 3/20/2052 |  | 178400 | 1178 |
| Japan, Series 76, 1.40% 9/20/2052 |  | 80350 | 586 |
| KfW 1.125% 7/4/2025 | GBP | 95 | 106 |
| Malaysia (Federation of), Series 0119, 3.906% 7/15/2026 | MYR | 1380 | 315 |
| Malaysia (Federation of), Series 0219, 3.885% 8/15/2029 |  | 620 | 140 |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040 |  | 270 | 57 |
| Morocco (Kingdom of) 3.50% 6/19/2024 | EUR | 100 | 107 |
| Morocco (Kingdom of) 1.50% 11/27/2031 |  | 100 | 79 |
| Netherlands (Kingdom of the) 5.50% 1/15/2028 |  | 100 | 121 |
| Nova Scotia (Province of) 3.15% 12/1/2051 | CAD | 170 | 101 |
| Peru (Republic of) 2.392% 1/23/2026 | USD | 90 | 83 |
| Philippines (Republic of) 0.001% 4/12/2024 | JPY | 100000 | 753 |

---

164 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |  |
| Philippines (Republic of) 0.25% 4/28/2025 | EUR | 100 | $99 |
| Philippines (Republic of) 1.648% 6/10/2031 | USD | 200 | 160 |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029 | PLN | 410 | 74 |
| Portuguese Republic 0.475% 10/18/2030 | EUR | 230 | 199 |
| Romania 2.125% 3/7/2028 |  | 130 | 117 |
| Romania 3.624% 5/26/2030 |  | 392 | 344 |
| Romania 2.00% 1/28/2032 |  | 100 | 72 |
| Romania 2.00% 4/14/2033 |  | 200 | 138 |
| Romania 3.375% 2/8/2038 |  | 80 | 58 |
| Romania 4.625% 4/3/2049 |  | 39 | 30 |
| Romania 3.375% 1/28/2050 |  | 73 | 45 |
| Russian Federation 7.00% 8/16/2023<sup>5,6</sup> | RUB | 16600 | 77 |
| Russian Federation 2.875% 12/4/2025<sup>5</sup> | EUR | 200 | 90 |
| Russian Federation 4.25% 6/23/2027<sup>5</sup> | USD | 200 | 86 |
| Russian Federation 4.375% 3/21/2029<sup>5</sup> |  | 200 | 82 |
| Russian Federation 6.90% 5/23/2029<sup>5</sup> | RUB | 28250 | 123 |
| Russian Federation 7.65% 4/10/2030<sup>5</sup> |  | 38320 | 166 |
| Russian Federation 5.90% 3/12/2031<sup>5</sup> |  | 5620 | 24 |
| Russian Federation 6.90% 7/23/2031<sup>5</sup> |  | 18200 | 79 |
| Russian Federation 8.50% 9/17/2031<sup>5</sup> |  | 5530 | 24 |
| Russian Federation 7.70% 3/23/2033<sup>5</sup> |  | 23030 | 100 |
| Russian Federation 7.25% 5/10/2034<sup>5</sup> |  | 8140 | 35 |
| Serbia (Republic of) 3.125% 5/15/2027 | EUR | 385 | 356 |
| Serbia (Republic of) 2.05% 9/23/2036 |  | 185 | 112 |
| South Africa (Republic of), Series R-2030, 8.00% 1/31/2030 | ZAR | 3000 | 157 |
| Spain (Kingdom of) 0% 1/31/2027 | EUR | 335 | 317 |
| Spain (Kingdom of) 0.80% 7/30/2027 |  | 490 | 474 |
| Spain (Kingdom of) 0.50% 10/31/2031 |  | 395 | 329 |
| Spain (Kingdom of) 0.70% 4/30/2032 |  | 830 | 693 |
| Tunisia (Republic of) 6.75% 10/31/2023 |  | 260 | 235 |
| Tunisia (Republic of) 6.75% 10/31/2023 |  | 150 | 135 |
| Ukraine 6.876% 5/21/2031<sup>3,5</sup> | USD | 250 | 48 |
| Ukraine 6.876% 5/21/2031<sup>5</sup> |  | 200 | 38 |
| United Kingdom 2.75% 9/7/2024 | GBP | 50 | 60 |
| United Kingdom 1.25% 7/22/2027 |  | 410 | 447 |
| United Kingdom 0.375% 10/22/2030 |  | 490 | 463 |
| United Kingdom 0.25% 7/31/2031 |  | 160 | 145 |
| United Kingdom 1.00% 1/31/2032 |  | 1490 | 1427 |
| United Kingdom 4.25% 6/7/2032 |  | 1165 | 1474 |
| United Kingdom 3.25% 1/22/2044 |  | 174 | 187 |
| United Kingdom 1.25% 7/31/2051 |  | 413 | 270 |
| United Mexican States, Series M, 5.75% 3/5/2026 | MXN | 18200 | 846 |
| United Mexican States, Series M, 7.50% 6/3/2027 |  | 1950 | 94 |
| United Mexican States, Series M, 7.75% 5/29/2031 |  | 5000 | 238 |
| United Mexican States, Series M, 8.00% 11/7/2047 |  | 5120 | 235 |
| United Mexican States, Series M, 8.00% 7/31/2053 |  | 18880 | 864 |
|  |  |  | **48783** |
| **U.S. Treasury bonds & notes 12.04%** |  |  |  |
| **U.S. Treasury 11.52%** |  |  |  |
| U.S. Treasury 2.50% 3/31/2023 | USD | 1182 | 1177 |
| U.S. Treasury 2.75% 4/30/2023 |  | 1485 | 1477 |
| U.S. Treasury 1.50% 2/29/2024 |  | 5058 | 4876 |
| U.S. Treasury 2.50% 4/30/2024 |  | 995 | 967 |
| U.S. Treasury 3.25% 8/31/2024 |  | 706 | 691 |
| U.S. Treasury 1.50% 10/31/2024 |  | 1300 | 1232 |
| U.S. Treasury 1.00% 12/15/2024 |  | 620 | 580 |
| U.S. Treasury 1.75% 3/15/2025 |  | 98 | 93 |
| U.S. Treasury 3.00% 7/15/2025 |  | 1016 | 984 |

---

American Funds Insurance Series 165

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury (continued)** |  |  |  |
| U.S. Treasury 3.125% 8/15/2025 | USD | 18 | $17 |
| U.S. Treasury 0.25% 8/31/2025 |  | 833 | 749 |
| U.S. Treasury 4.50% 11/15/2025 |  | 178 | 179 |
| U.S. Treasury 0.375% 11/30/2025 |  | 50 | 45 |
| U.S. Treasury 0.50% 2/28/2026 |  | 500 | 446 |
| U.S. Treasury 0.75% 3/31/2026 |  | 2075 | 1861 |
| U.S. Treasury 0.875% 6/30/2026 |  | 74 | 66 |
| U.S. Treasury 2.25% 2/15/2027 |  | 298 | 277 |
| U.S. Treasury 1.875% 2/28/2027 |  | 6696 | 6133 |
| U.S. Treasury 2.50% 3/31/2027 |  | 1025 | 962 |
| U.S. Treasury 2.75% 4/30/2027 |  | 6460 | 6125 |
| U.S. Treasury 2.75% 7/31/2027 |  | 46 | 43 |
| U.S. Treasury 3.125% 8/31/2027 |  | 2160 | 2078 |
| U.S. Treasury 4.125% 9/30/2027 |  | 268 | 269 |
| U.S. Treasury 4.125% 10/31/2027 |  | 357 | 358 |
| U.S. Treasury 2.875% 5/15/2028 |  | 1275 | 1204 |
| U.S. Treasury 2.875% 8/15/2028 |  | 557 | 525 |
| U.S. Treasury 0.625% 5/15/2030 |  | 823 | 652 |
| U.S. Treasury 0.625% 8/15/2030 |  | 650 | 512 |
| U.S. Treasury 1.625% 5/15/2031 |  | 375 | 316 |
| U.S. Treasury 1.25% 8/15/2031 |  | 395 | 321 |
| U.S. Treasury 1.375% 11/15/2031 |  | 834 | 680 |
| U.S. Treasury 1.875% 2/15/2032 |  | 779 | 661 |
| U.S. Treasury 2.875% 5/15/2032 |  | 640 | 590 |
| U.S. Treasury 2.75% 8/15/2032 |  | 1279 | 1164 |
| U.S. Treasury 4.125% 11/15/2032 |  | 195 | 199 |
| U.S. Treasury 1.875% 2/15/2041<sup>7</sup> |  | 920 | 652 |
| U.S. Treasury 2.25% 5/15/2041<sup>7</sup> |  | 525 | 395 |
| U.S. Treasury 2.875% 11/15/2046 |  | 400 | 322 |
| U.S. Treasury 1.25% 5/15/2050 |  | 140 | 76 |
| U.S. Treasury 2.375% 5/15/2051 |  | 490 | 353 |
| U.S. Treasury 2.00% 8/15/2051 |  | 560 | 369 |
| U.S. Treasury 1.875% 11/15/2051<sup>7</sup> |  | 686 | 437 |
| U.S. Treasury 2.25% 2/15/2052<sup>7</sup> |  | 765 | 535 |
| U.S. Treasury 2.875% 5/15/2052 |  | 273 | 220 |
| U.S. Treasury 3.00% 8/15/2052 |  | 510 | 423 |
| U.S. Treasury 4.00% 11/15/2052 |  | 70 | 70 |
|  |  |  | **42361** |
| **U.S. Treasury inflation-protected securities 0.52%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>4</sup> |  | 829 | 803 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>4</sup> |  | 575 | 555 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2027<sup>4</sup> |  | 367 | 346 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049<sup>4</sup> |  | 249 | 208 |
|  |  |  | **1912** |
| **Total U.S. Treasury bonds & notes** |  |  | **44273** |
| **Corporate bonds, notes & loans 5.64%** |  |  |  |
| **Financials 1.80%** |  |  |  |
| ACE INA Holdings, Inc. 3.35% 5/3/2026 |  | 10 | 10 |
| ACE INA Holdings, Inc. 4.35% 11/3/2045 |  | 20 | 17 |
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Annual Swap + 1.10% on 9/9/2028)<sup>8</sup> | EUR | 200 | 167 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025)<sup>3,8</sup> | USD | 200 | 204 |
| Allianz SE 4.75% perpetual bonds (3-month EUR-EURIBOR + 3.60% on 10/24/2023)<sup>8</sup> | EUR | 100 | 106 |
| Banco de Sabadell, SA 2.625% 3/24/2026 (5-year EUR Mid-Swap + 2.20% on 3/24/2025)<sup>8</sup> |  | 100 | 101 |
| Bank of America Corp. 0.976% 4/22/2025 (USD-SOFR + 0.69% on 4/22/2024)<sup>8</sup> | USD | 200 | 188 |
| Bank of America Corp. 1.319% 6/19/2026 (USD-SOFR + 1.15% on 6/19/2025)<sup>8</sup> |  | 500 | 451 |
| Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)<sup>8</sup> |  | 160 | 140 |

---

166 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Bank of America Corp. 3.419% 12/20/2028 (3-month USD-LIBOR + 1.04% on 12/20/2027)<sup>8</sup> | USD | 236 | $214 |
| Bank of America Corp. 2.496% 2/13/2031 (3-month USD-LIBOR + 0.99% on 2/13/2030)<sup>8</sup> |  | 20 | 16 |
| Barclays Bank PLC 5.304% 8/9/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 8/9/2025)<sup>8</sup> |  | 475 | 472 |
| Citigroup, Inc. 0.981% 5/1/2025 (USD-SOFR + 0.669% on 5/1/2024)<sup>8</sup> |  | 103 | 96 |
| Citigroup, Inc. 3.106% 4/8/2026 (USD-SOFR + 2.842% on 3/8/2026)<sup>8</sup> |  | 175 | 166 |
| Citigroup, Inc. 1.462% 6/9/2027 (USD-SOFR + 0.67% on 6/9/2026)<sup>8</sup> |  | 310 | 269 |
| Citigroup, Inc. 3.07% 2/24/2028 (USD-SOFR + 1.28% on 2/24/2027)<sup>8</sup> |  | 110 | 99 |
| Citigroup, Inc. 4.91% 5/24/2033 (USD-SOFR + 2.086% on 5/24/2032)<sup>8</sup> |  | 29 | 27 |
| Commonwealth Bank of Australia 2.688% 3/11/2031<sup>3</sup> |  | 225 | 174 |
| Corebridge Financial, Inc. 3.90% 4/5/2032<sup>3</sup> |  | 59 | 52 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)<sup>8</sup> |  | 160 | 136 |
| Deutsche Bank AG 4.00% 6/24/2032 (3-month EUR-EURIBOR + 3.30% on 6/24/2027)<sup>8</sup> | EUR | 100 | 95 |
| Goldman Sachs Group, Inc. 1.00% 3/18/2033<sup>9</sup> |  | 210 | 162 |
| Goldman Sachs Group, Inc. 4.017% 10/31/2038 (3-month USD-LIBOR + 1.373% on 10/31/2037)<sup>8</sup> | USD | 78 | 64 |
| Groupe BPCE SA 5.70% 10/22/2023<sup>3</sup> |  | 200 | 199 |
| Groupe BPCE SA 1.00% 4/1/2025 | EUR | 100 | 101 |
| HSBC Holdings PLC 4.292% 9/12/2026 (3-month USD-LIBOR + 1.348% on 9/12/2025)<sup>8</sup> | USD | 200 | 191 |
| JPMorgan Chase & Co. 1.578% 4/22/2027 (USD-SOFR + 0.885% on 4/22/2026)<sup>8</sup> |  | 186 | 164 |
| JPMorgan Chase & Co. 4.493% 3/24/2031 (USD-SOFR + 3.79% on 3/24/2030)<sup>8</sup> |  | 160 | 150 |
| Morgan Stanley 3.125% 7/27/2026 |  | 110 | 103 |
| Morgan Stanley 0.985% 12/10/2026 (USD-SOFR + 0.72% on 12/10/2025)<sup>8</sup> |  | 200 | 175 |
| Morgan Stanley 1.593% 5/4/2027 (USD-SOFR + 0.879% on 5/4/2026)<sup>8</sup> |  | 126 | 111 |
| Morgan Stanley 2.699% 1/22/2031 (USD-SOFR + 1.143% on 1/22/2030)<sup>8</sup> |  | 72 | 60 |
| Morgan Stanley 2.95% 5/7/2032 (3-month EUR-EURIBOR + 1.245% on 5/7/2031)<sup>8</sup> | EUR | 510 | 485 |
| New York Life Insurance Company 3.75% 5/15/2050<sup>3</sup> | USD | 23 | 18 |
| Nordea Bank AB 3.60% 6/6/2025<sup>3</sup> |  | 200 | 193 |
| Royal Bank of Canada 1.20% 4/27/2026 |  | 175 | 156 |
| UBS Group AG 4.49% 8/5/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.60% on 8/5/2024)<sup>3,8</sup> |  | 450 | 442 |
| Wells Fargo & Company 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027)<sup>8</sup> |  | 210 | 195 |
| Wells Fargo & Company 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027)<sup>8</sup> |  | 400 | 354 |
| Wells Fargo & Company 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)<sup>8</sup> |  | 100 | 85 |
|  |  |  | **6608** |
| **Utilities 0.89%** |  |  |  |
| Alabama Power Co. 3.00% 3/15/2052 |  | 250 | 166 |
| CMS Energy Corp. 3.00% 5/15/2026 |  | 150 | 140 |
| Consumers Energy Co. 3.60% 8/15/2032 |  | 250 | 228 |
| Duke Energy Carolinas, LLC 3.05% 3/15/2023 |  | 280 | 279 |
| Duke Energy Progress, LLC 3.70% 9/1/2028 |  | 75 | 71 |
| E.ON SE 1.625% 3/29/2031 | EUR | 240 | 216 |
| Edison International 4.125% 3/15/2028 | USD | 160 | 149 |
| Enel Finance International SA 1.875% 7/12/2028<sup>3</sup> |  | 200 | 159 |
| Enersis Américas SA 4.00% 10/25/2026 |  | 35 | 33 |
| Entergy Louisiana, LLC 4.75% 9/15/2052 |  | 100 | 90 |
| Exelon Corp. 3.40% 4/15/2026 |  | 150 | 143 |
| FirstEnergy Corp. 3.50% 4/1/2028<sup>3</sup> |  | 35 | 32 |
| Florida Power & Light Company 2.875% 12/4/2051 |  | 120 | 81 |
| Interstate Power and Light Co. 2.30% 6/1/2030 |  | 50 | 41 |
| NextEra Energy Capital Holdings, Inc. 2.75% 11/1/2029 |  | 232 | 201 |
| Niagara Mohawk Power Corp. 3.508% 10/1/2024<sup>3</sup> |  | 85 | 82 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026 |  | 25 | 23 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027 |  | 100 | 86 |

---

American Funds Insurance Series 167

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Utilities (continued)** |  |  |  |
| Pacific Gas and Electric Co. 3.00% 6/15/2028 | USD | 140 | $121 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028 |  | 114 | 105 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030 |  | 31 | 28 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031 |  | 600 | 467 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031 |  | 50 | 41 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050 |  | 137 | 86 |
| Xcel Energy, Inc. 3.35% 12/1/2026 |  | 216 | 203 |
|  |  |  | **3271** |
| **Consumer discretionary 0.62%** |  |  |  |
| Amazon.com, Inc. 2.80% 8/22/2024 |  | 45 | 44 |
| Bayerische Motoren Werke AG 3.90% 4/9/2025<sup>3</sup> |  | 70 | 69 |
| Bayerische Motoren Werke AG 4.15% 4/9/2030<sup>3</sup> |  | 70 | 67 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027<sup>3</sup> |  | 150 | 140 |
| General Motors Financial Co. 2.40% 4/10/2028 |  | 150 | 126 |
| Hyundai Capital America 1.50% 6/15/2026<sup>3</sup> |  | 250 | 217 |
| Hyundai Capital America 2.375% 10/15/2027<sup>3</sup> |  | 109 | 93 |
| Hyundai Capital Services, Inc. 3.75% 3/5/2023<sup>3</sup> |  | 250 | 249 |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>3</sup> |  | 222 | 239 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028<sup>3</sup> |  | 185 | 148 |
| Royal Caribbean Cruises, Ltd. 8.25% 1/15/2029<sup>3</sup> |  | 70 | 70 |
| Royal Caribbean Cruises, Ltd. 9.25% 1/15/2029<sup>3</sup> |  | 59 | 61 |
| Stellantis Finance US, Inc. 5.625% 1/12/2028<sup>3</sup> |  | 400 | 397 |
| Stellantis Finance US, Inc. 2.691% 9/15/2031<sup>3</sup> |  | 200 | 153 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030 |  | 33 | 30 |
| Volkswagen International Finance NV 4.375% junior subordinated perpetual bonds (9-year EUR Mid-Swap + 3.36% on 3/28/2031)<sup>8</sup> | EUR | 200 | 175 |
|  |  |  | **2278** |
| **Health care 0.45%** |  |  |  |
| Aetna, Inc. 2.80% 6/15/2023 | USD | 10 | 10 |
| Amgen, Inc. 1.90% 2/21/2025 |  | 40 | 37 |
| Amgen, Inc. 2.20% 2/21/2027 |  | 30 | 27 |
| Amgen, Inc. 4.20% 3/1/2033 |  | 280 | 260 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031 |  | 69 | 57 |
| AstraZeneca PLC 3.50% 8/17/2023 |  | 150 | 149 |
| Becton, Dickinson and Company 3.734% 12/15/2024 |  | 10 | 10 |
| Becton, Dickinson and Company 3.70% 6/6/2027 |  | 43 | 41 |
| Becton, Dickinson and Company 2.823% 5/20/2030 |  | 28 | 24 |
| Becton, Dickinson and Company 4.298% 8/22/2032 |  | 320 | 300 |
| Cigna Corp. 4.125% 11/15/2025 |  | 80 | 78 |
| EMD Finance, LLC 3.25% 3/19/2025<sup>3</sup> |  | 250 | 240 |
| Stryker Corp. 0.75% 3/1/2029 | EUR | 210 | 188 |
| Takeda Pharmaceutical Company, Ltd. 2.25% 11/21/2026 |  | 100 | 102 |
| UnitedHealth Group, Inc. 4.00% 5/15/2029 | USD | 135 | 129 |
|  |  |  | **1652** |
| **Communication services 0.42%** |  |  |  |
| AT&T, Inc. 2.75% 6/1/2031 |  | 375 | 312 |
| AT&T, Inc. 2.55% 12/1/2033 |  | 64 | 49 |
| Comcast Corp. 0% 9/14/2026 | EUR | 100 | 94 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032 | USD | 45 | 56 |
| Netflix, Inc. 3.875% 11/15/2029<sup>9</sup> | EUR | 200 | 201 |
| Orange SA 9.00% 3/1/2031<sup>8</sup> | USD | 65 | 80 |
| T-Mobile US, Inc. 2.05% 2/15/2028 |  | 200 | 172 |
| Verizon Communications, Inc. 0.375% 3/22/2029 | EUR | 140 | 121 |

---

168 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Communication services (continued)** |  |  |  |
| Verizon Communications, Inc. 2.55% 3/21/2031 | USD | 325 | $268 |
| Verizon Communications, Inc. 0.75% 3/22/2032 | EUR | 100 | 80 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042<sup>3</sup> | USD | 168 | 129 |
|  |  |  | **1562** |
| **Information technology 0.38%** |  |  |  |
| Apple, Inc. 3.35% 8/8/2032 |  | 580 | 528 |
| Broadcom, Inc. 4.00% 4/15/2029<sup>3</sup> |  | 21 | 19 |
| Broadcom, Inc. 4.15% 11/15/2030 |  | 70 | 63 |
| Broadcom, Inc. 3.419% 4/15/2033<sup>3</sup> |  | 53 | 43 |
| Broadcom, Inc. 3.137% 11/15/2035<sup>3</sup> |  | 15 | 11 |
| Lenovo Group, Ltd. 5.875% 4/24/2025 |  | 269 | 262 |
| Mastercard, Inc. 2.00% 11/18/2031 |  | 102 | 82 |
| Microsoft Corp. 2.40% 8/8/2026 |  | 187 | 175 |
| Oracle Corp. 2.65% 7/15/2026 |  | 216 | 199 |
|  |  |  | **1382** |
| **Industrials 0.32%** |  |  |  |
| Boeing Company 4.508% 5/1/2023 |  | 400 | 399 |
| Canadian Pacific Railway, Ltd. 3.10% 12/2/2051 |  | 164 | 111 |
| Carrier Global Corp. 2.242% 2/15/2025 |  | 6 | 6 |
| Carrier Global Corp. 2.493% 2/15/2027 |  | 7 | 6 |
| CSX Corp. 3.80% 4/15/2050 |  | 6 | 5 |
| CSX Corp. 2.50% 5/15/2051 |  | 75 | 46 |
| Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034<sup>3</sup> |  | 95 | 92 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027<sup>3</sup> |  | 200 | 181 |
| Singapore Airlines, Ltd. 3.375% 1/19/2029 |  | 200 | 181 |
| United Technologies Corp. 4.125% 11/16/2028 |  | 170 | 163 |
|  |  |  | **1190** |
| **Consumer staples 0.26%** |  |  |  |
| Altria Group, Inc. 2.20% 6/15/2027 | EUR | 270 | 260 |
| Anheuser-Busch InBev NV 4.00% 4/13/2028 | USD | 100 | 95 |
| Anheuser-Busch InBev NV 4.75% 1/23/2029 |  | 220 | 218 |
| British American Tobacco PLC 3.215% 9/6/2026 |  | 62 | 57 |
| British American Tobacco PLC 4.70% 4/2/2027 |  | 67 | 64 |
| British American Tobacco PLC 3.557% 8/15/2027 |  | 105 | 96 |
| British American Tobacco PLC 3.462% 9/6/2029 |  | 75 | 65 |
| Philip Morris International, Inc. 5.75% 11/17/2032 |  | 110 | 113 |
|  |  |  | **968** |
| **Energy 0.24%** |  |  |  |
| Canadian Natural Resources, Ltd. 2.95% 7/15/2030 |  | 161 | 136 |
| Halliburton Company 3.80% 11/15/2025 |  | 2 | 2 |
| Kinder Morgan, Inc. 4.30% 6/1/2025 |  | 165 | 162 |
| Petróleos Mexicanos 6.75% 9/21/2047 |  | 107 | 69 |
| Qatar Petroleum 3.125% 7/12/2041<sup>3</sup> |  | 270 | 208 |
| Statoil ASA 3.70% 3/1/2024 |  | 50 | 49 |
| TransCanada Corp. 5.875% 8/15/2076 (3-month USD-LIBOR + 4.64% on 8/15/2026)<sup>8</sup> |  | 288 | 275 |
|  |  |  | **901** |
| **Real estate 0.14%** |  |  |  |
| American Tower Corp. 0.875% 5/21/2029 | EUR | 250 | 214 |
| Equinix, Inc. 2.15% 7/15/2030 | USD | 176 | 140 |
| Essex Portfolio, LP 3.50% 4/1/2025 |  | 120 | 116 |
| Essex Portfolio, LP 3.375% 4/15/2026 |  | 40 | 38 |
|  |  |  | **508** |

---

American Funds Insurance Series 169

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Materials 0.12%** |  |  |  |
| Celanese US Holdings, LLC 5.337% 1/19/2029 | EUR | 300 | $305 |
| Celanese US Holdings, LLC 6.379% 7/15/2032 | USD | 50 | 48 |
| Vale Overseas, Ltd. 3.75% 7/8/2030 |  | 94 | 82 |
|  |  |  | **435** |
| **Total corporate bonds, notes & loans** |  |  | **20755** |
| **Mortgage-backed obligations 2.58%** |  |  |  |
| **Federal agency mortgage-backed obligations 1.56%** |  |  |  |
| Fannie Mae Pool #FM7100 3.50% 6/1/2050<sup>10</sup> |  | 350 | 324 |
| Fannie Mae Pool #CB2402 2.50% 12/1/2051<sup>10</sup> |  | 315 | 267 |
| Fannie Mae Pool #BV9612 2.50% 4/1/2052<sup>10</sup> |  | 271 | 230 |
| Fannie Mae Pool #FS2555 4.50% 7/1/2052<sup>10</sup> |  | 148 | 143 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052<sup>10</sup> |  | 471 | 442 |
| Fannie Mae Pool #BW3812 4.50% 9/1/2052<sup>10</sup> |  | 120 | 116 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>10</sup> |  | 135 | 130 |
| Fannie Mae Pool #BW7796 5.00% 10/1/2052<sup>10</sup> |  | 840 | 829 |
| Fannie Mae Pool #BW1299 4.00% 11/1/2052<sup>10</sup> |  | 57 | 53 |
| Fannie Mae Pool #BW1385 4.00% 12/1/2052<sup>10</sup> |  | 290 | 272 |
| Freddie Mac Pool #ZJ9038 5.00% 6/1/2023<sup>10</sup> |  | —<sup>11</sup> | —<sup>11</sup> |
| Freddie Mac Pool #QE8253 4.50% 8/1/2052<sup>10</sup> |  | 200 | 193 |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052<sup>10</sup> |  | 100 | 94 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052<sup>10</sup> |  | 513 | 494 |
| Freddie Mac Pool #QF2182 4.50% 10/1/2052<sup>10</sup> |  | 84 | 81 |
| Freddie Mac Pool #QF3955 4.00% 12/1/2052<sup>10</sup> |  | 238 | 224 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>10</sup> |  | 75 | 72 |
| Freddie Mac, Series K153, Class A2, Multi Family, 3.82% 1/25/2033<sup>10</sup> |  | 580 | 546 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>10,12</sup> |  | 1350 | 1241 |
|  |  |  | **5751** |
| **Other mortgage-backed securities 1.02%** |  |  |  |
| Nordea Kredit 0.50% 10/1/2040<sup>10</sup> | DKK | 1615 | 181 |
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2037<sup>10</sup> |  | 502 | 62 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2040<sup>10</sup> |  | 7234 | 809 |
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2040<sup>10</sup> |  | 1281 | 158 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043<sup>10</sup> |  | 20442 | 2228 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2050<sup>10</sup> |  | 1365 | 136 |
| Nykredit Realkredit AS, Series CCE, 1.00% 10/1/2050<sup>10</sup> |  | 590 | 63 |
| Nykredit Realkredit AS, Series 01E, 1.00% 10/1/2053<sup>10</sup> |  | 862 | 90 |
| Realkredit Danmark AS 1.00% 10/1/2053<sup>10</sup> |  | 194 | 20 |
|  |  |  | **3747** |
| **Total mortgage-backed obligations** |  |  | **9498** |
| **Asset-backed obligations 0.63%** |  |  |  |
| AmeriCredit Automobile Receivables Trust, Series 2022-2, Class A2B, (30-day Average USD-SOFR + 1.15%) 4.958% 12/18/2025<sup>10,13</sup> | USD | 203 | 203 |
| CarMax Auto Owner Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.77%) 4.577% 9/15/2025<sup>10,13</sup> |  | 128 | 128 |
| Exeter Automobile Receivables Trust, Series 2022-3A, Class A2, 3.45% 8/15/2024<sup>10</sup> |  | 56 | 56 |
| Exeter Automobile Receivables Trust, Series 2022-4A, Class A2, 3.99% 8/15/2024<sup>10</sup> |  | 66 | 66 |
| Ford Credit Auto Owner Trust, Series 2022-B, Class A2B, (30-day Average USD-SOFR + 0.60%) 4.407% 2/15/2025<sup>10,13</sup> |  | 111 | 111 |
| GM Financial Automobile Leasing Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.71%) 4.536% 10/21/2024<sup>10,13</sup> |  | 110 | 110 |
| GM Financial Consumer Automobile Receivables Trust, Series 2022-3, Class A2B, (30-day Average USD-SOFR + 0.60%) 4.408% 9/16/2025<sup>10,13</sup> |  | 121 | 121 |
| Hyundai Auto Receivables Trust, Series 2022-B, Class A2B, (30-day Average USD-SOFR + 0.58%) 4.387% 5/15/2025<sup>10,13</sup> |  | 120 | 120 |

---

170 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Nissan Auto Lease Trust, Series 2021-A, Class A3, 0.52% 8/15/2024<sup>10</sup> | USD | 302 | $295 |
| Nissan Auto Lease Trust, Series 2022-A, Class A2B, (30-day Average USD-SOFR + 0.68%) 4.487% 8/15/2024<sup>10,13</sup> |  | 283 | 283 |
| Santander Drive Auto Receivables Trust, Series 2022-4, Class A2, 4.05% 7/15/2025<sup>10</sup> |  | 193 | 193 |
| Toyota Auto Receivables Owner Trust, Series 2022-C, Class A2B, (1-month USD-SOFR + 0.57%) 4.377% 8/15/2025<sup>10,13</sup> |  | 40 | 40 |
| Verizon Master Trust, Series 2022-3, Class A, 3.01% 5/20/2027 (3.76% on 11/20/2023)<sup>8,10</sup> |  | 250 | 245 |
| Volkswagen Auto Lease Trust, Series 2022-A, Class A2, 3.02% 10/21/2024<sup>10</sup> |  | 155 | 153 |
| Westlake Automobile Receivables Trust, Series 2022-2A, Class A2A, 3.36% 8/15/2025<sup>3,10</sup> |  | 181 | 180 |
|  |  |  | **2304** |
| **Municipals 0.04%** |  |  |  |
| **Ohio 0.02%** |  |  |  |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, 3.216% 2/15/2048 |  | **100** | **72** |
| **Texas 0.02%** |  |  |  |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 10/1/2052 |  | **80** | **57** |
| **Total municipals** |  |  | **129** |
| **Total bonds, notes & other debt instruments** (cost: $141,023,000) |  |  | **125742** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities 4.34%** | Weighted<br> average yield<br> at acquisition |  |  |
| **Commercial paper 3.27%** |  |  |  |
| British Columbia (Province of) 1/23/2023 | 3.996% | 2560 | 2553 |
| KfW 1/27/2023<sup>3</sup> | 3.890 | 4500 | 4485 |
| Toronto-Dominion Bank 1/27/2023<sup>3</sup> | 4.132 | 5000 | 4983 |
|  |  |  | **12021** |
|  |  | Shares |  |
| **Money market investments 1.07%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>2,14</sup> |  | **39285** | **3928** |
| **Total short-term securities** (cost: $15,953,000) |  |  | **15949** |
| **Total investment securities 99.35%** (cost: $359,847,000) | **Total investment securities 99.35%** (cost: $359,847,000) |  | **365361** |
| Other assets less liabilities 0.65% |  |  | 2399 |
| **Net assets 100.00%** |  |  | $**367760** |

---

American Funds Insurance Series 171

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2022<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Long | 5 | March 2023 | USD1,025 | $1 |
| 5 Year Euro-Bobl Futures | Long | 49 | March 2023 | 6071 | (205) |
| 5 Year U.S. Treasury Note Futures | Long | 95 | March 2023 | 10253 | (8) |
| 10 Year Euro-Bund Futures | Long | 14 | March 2023 | 1992 | (128) |
| 10 Year Italy Government Bond Futures | Short | 1 | March 2023 | (116) | 9 |
| 10 Year Japanese Government Bond Futures | Short | 1 | March 2023 | (1108) | 23 |
| 10 Year Australian Treasury Bond Futures | Long | 4 | March 2023 | 315 | (19) |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 6 | March 2023 | 710 | (6) |
| 10 Year U.S. Treasury Note Futures | Short | 6 | March 2023 | (674) | 4 |
| 10 Year UK Gilt Futures | Short | 2 | March 2023 | (241) | 15 |
| 20 Year U.S. Treasury Bond Futures | Long | 4 | March 2023 | 501 | (11) |
| 30 Year Euro-Buxl Futures | Long | 2 | March 2023 | 290 | (54) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 6 | March 2023 | (806) | 6 |
|  |  |  |  |  | $(373) |

---

**Forward currency contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation<br> (depreciation)**<br>**at 12/31/2022<br> (000)** |
| KRW | 1761900 | USD | 1337 | Citibank | 1/9/2023 | $63 |
| USD | 687 | KRW | 894770 | Bank of America | 1/9/2023 | (23) |
| EUR | 2560 | DKK | 19040 | Standard Chartered Bank | 1/10/2023 | (1) |
| USD | 203 | NZD | 320 | HSBC Bank | 1/10/2023 | (1) |
| SEK | 1270 | USD | 122 | UBS AG | 1/10/2023 | (1) |
| USD | 511 | MYR | 2250 | JPMorgan Chase | 1/10/2023 | (3) |
| USD | 640 | AUD | 950 | HSBC Bank | 1/10/2023 | (7) |
| USD | 445 | MXN | 8853 | Goldman Sachs | 1/10/2023 | (8) |
| EUR | 4105 | USD | 4324 | Goldman Sachs | 1/12/2023 | 74 |
| CAD | 1450 | USD | 1063 | HSBC Bank | 1/12/2023 | 8 |
| USD | 74 | CAD | 100 | HSBC Bank | 1/12/2023 | —<sup>11</sup> |
| NZD | 470 | USD | 299 | Morgan Stanley | 1/12/2023 | (1) |
| USD | 1585 | EUR | 1500 | BNP Paribas | 1/12/2023 | (21) |
| JPY | 169239 | USD | 1256 | Bank of America | 1/13/2023 | 35 |
| JPY | 89090 | USD | 656 | Bank of America | 1/13/2023 | 24 |
| USD | 278 | COP | 1337640 | Citibank | 1/13/2023 | 3 |
| USD | 563 | CAD | 760 | Standard Chartered Bank | 1/13/2023 | 2 |
| USD | 98 | GBP | 80 | Morgan Stanley | 1/13/2023 | 1 |
| GBP | 240 | USD | 292 | Bank of New York Mellon | 1/13/2023 | (2) |
| USD | 303 | MXN | 6020 | UBS AG | 1/13/2023 | (5) |
| JPY | 466020 | USD | 3428 | Standard Chartered Bank | 1/20/2023 | 133 |
| JPY | 81321 | AUD | 890 | HSBC Bank | 1/20/2023 | 15 |
| JPY | 51480 | USD | 380 | Standard Chartered Bank | 1/20/2023 | 14 |
| USD | 112 | CLP | 100000 | Bank of America | 1/23/2023 | (6) |
| USD | 564 | BRL | 3025 | Citibank | 1/23/2023 | (7) |
| JPY | 118440 | USD | 821 | Standard Chartered Bank | 1/27/2023 | 85 |
| JPY | 172080 | USD | 1271 | BNP Paribas | 1/27/2023 | 46 |
| JPY | 45290 | USD | 313 | UBS AG | 1/27/2023 | 33 |
| JPY | 78800 | USD | 585 | Goldman Sachs | 1/27/2023 | 18 |
| PLN | 4260 | USD | 922 | Citibank | 2/2/2023 | 47 |

---

172 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

**Forward currency contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency<br> purchased<br> (000)** | **Currency<br> purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation**<br>**(depreciation)**<br> **at 12/31/2022**<br> **(000)** |
| USD | 245 | PLN | 1150 | UBS AG | 2/2/2023 | $(17) |
| USD | 420 | PLN | 1940 | Citibank | 2/2/2023 | (21) |
| PLN | 1940 | USD | 468 | BNP Paribas | 2/2/2023 | (26) |
| KRW | 405540 | USD | 307 | Standard Chartered Bank | 2/28/2023 | 16 |
| CNH | 8530 | USD | 1218 | Standard Chartered Bank | 3/6/2023 | 22 |
| JPY | 76110 | USD | 565 | BNP Paribas | 3/6/2023 | 20 |
| EUR | 720 | USD | 757 | Bank of America | 3/6/2023 | 17 |
| KRW | 347180 | USD | 267 | HSBC Bank | 3/6/2023 | 10 |
|  |  |  |  |  |  | $536 |

---

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | **Notional** | **Notional** | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** | **amount<br> (000)** | **amount<br> (000)** | **Value at**<br>**12/31/2022<br> (000)** | **Upfront<br> premium**<br>**paid<br> (000)** | **Unrealized<br> (depreciation)<br> appreciation**<br>**at 12/31/2022<br> (000)** |
| 1.2475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/20/2023 | NZD | 375 | $(6) | $— | $(6) |
| 1.234974% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/20/2023 |  | 3197 | (51) |  | (51) |
| 1.2375% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/26/2023 |  | 1178 | (20) |  | (20) |
| 1.264% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/27/2023 |  | 2945 | (48) |  | (48) |
| 1.26% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/30/2023 |  | 486 | (8) |  | (8) |
| 1.28% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/31/2023 |  | 486 | (8) |  | (8) |
| 1.30% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/3/2023 |  | 533 | (9) |  | (9) |
| 1.4975% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/21/2023 |  | 1001 | (17) |  | (17) |
| 1.445% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/28/2023 |  | 1000 | (18) |  | (18) |
| 1.4475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/29/2023 |  | 1019 | (19) |  | (19) |
| 1.4475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/30/2023 |  | 1023 | (19) |  | (19) |
| 1.5125% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/14/2023 |  | 904 | (17) |  | (17) |
| 1.53% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/14/2023 |  | 1031 | (20) |  | (20) |
| 1.5625% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/15/2023 |  | 1029 | (19) |  | (19) |
| 1.59% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/18/2023 |  | 1029 | (19) |  | (19) |
| 1.62% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/19/2023 |  | 1144 | (21) |  | (21) |
| 3.7697% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/6/2023 |  | 5500 | (47) |  | (47) |
| 2.24% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/8/2023 |  | 1463 | (24) |  | (24) |
| 2.2525% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/8/2023 |  | 1463 | (24) |  | (24) |
| 2.20% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/9/2023 |  | 123 | (2) |  | (2) |
| 2.495% | Annual | SONIA | Annual | 5/5/2024 | GBP | 3050 | (77) |  | (77) |
| 2.42% | Annual | SONIA | Annual | 5/5/2024 |  | 6100 | (160) |  | (160) |
| 2.9588% | Annual | SONIA | Annual | 6/9/2024 |  | 4180 | (84) |  | (84) |
| SONIA | Annual | 5.6325% | Annual | 9/25/2024 |  | 7720 | (88) |  | (88) |
| 6.59% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 | MXN | 2000 | (7) |  | (7) |
| 6.585% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 2600 | (10) |  | (10) |
| 6.64% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 3200 | (12) |  | (12) |
| 6.6175% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 8600 | (31) |  | (31) |
| 6.633% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 8900 | (32) |  | (32) |
| 6.58% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 11300 | (42) |  | (42) |
| 7.59% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 |  | 2500 | (6) |  | (6) |
| 7.62% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 |  | 3701 | (8) |  | (8) |
| 7.66% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 |  | 6100 | (13) |  | (13) |

---

American Funds Insurance Series 173

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

**Swap contracts** (continued)

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | **Notional** | **Notional** | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** | **amount<br> (000)** | **amount<br> (000)** | **Value at**<br>**12/31/2022<br> (000)** | **Upfront<br> premium**<br>**paid<br> (000)** | **Unrealized<br> (depreciation)<br> appreciation**<br>**at 12/31/2022<br> (000)** |
| 7.64% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 | MXN | 6000 | $(13) | $— | $(13) |
| 7.52% | 28-day | 28-day MXN-TIIE | 28-day | 10/30/2026 |  | 7639 | (18) |  | (18) |
| 9.07% | 28-day | 28-day MXN-TIIE | 28-day | 4/28/2027 |  | 20400 | 8 |  | 8 |
|  |  |  |  |  |  |  | $(1009) | $— | $(1009) |

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — sell protection**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Financing<br> rate received** | **Payment<br> frequency** | **Reference<br> index** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **<sup>15</sup>** | **Value at<br> 12/31/2022<br> (000)** | **<sup>16</sup>** | **Upfront<br> premium<br> paid<br> (000)** | **Unrealized<br> appreciation<br> at 12/31/2022<br> (000)** |
| 1.00% | Quarterly | CDX.NA.IG.39 | 12/20/2027 | USD | 2580 |  | $20 |  | $13 | $7 |

---

**Investments in affiliates<sup>2</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> gain<br> (000)** | **Net<br> unrealized<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Investment funds 1.50%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Corporate Bond Fund | $— | $5481 | $— | $— | $51 | $5532 | $50 |
| **Short-term securities 1.07%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 1.07%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>14</sup> | 1127 | 144034 | 141236 | 3 |  | 3928 | 343 |
| **Total 2.57%** |  |  |  | $3 | $51 | $9460 | $393 |

---

**Restricted securities<sup>9</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Acquisition<br> date(s) | Cost<br> (000) | Value<br> (000) | Percent<br> of net<br> assets |
| Netflix, Inc. 3.875% 11/15/2029 | 7/11/20222-7/12/2022 | $191 | $201 | .06% |
| Goldman Sachs Group, Inc. 1.00% 3/18/2033 | 5/19/2021 | 251 | 162 | .04 |
| **Total** |  | $442 | $363 | .10% |

---

174 American Funds Insurance Series

American Funds Global Balanced Fund (continued)

(formerly Global Balanced Fund)

<sup>1</sup> Security did not produce income during the last 12 months.

<sup>2</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>3</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $14,344,000, which represented 3.90% of the net assets of the fund.

<sup>4</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>5</sup> Scheduled interest and/or principal payment was not received.

<sup>6</sup> Value determined using significant unobservable inputs.

<sup>7</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $758,000, which represented .21% of the net assets of the fund.

<sup>8</sup> Step bond; coupon rate may change at a later date.

<sup>9</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $363,000, which represented .10% of the net assets of the fund.

<sup>10</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>11</sup> Amount less than one thousand.

<sup>12</sup> Purchased on a TBA basis.

<sup>13</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>14</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>15</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>16</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively.

**Key to abbreviations**

ADR = American Depositary Receipts

Assn. = Association

AUD = Australian dollars

BBR = Bank Base Rate

BRL = Brazilian reais

CAD = Canadian dollars

CDI = CREST Depository Interest

CLP = Chilean pesos

CNH = Chinese yuan renminbi

CNY = Chinese yuan

COP = Colombian pesos

DKK = Danish kroner

EUR = Euros

EURIBOR = Euro Interbank Offered Rate

FRA = Forward Rate Agreement

GBP = British pounds

IDR = Indonesian rupiah

INR = Indian rupees

JPY = Japanese yen

KRW = South Korean won

LIBOR = London Interbank Offered Rate

MXN = Mexican pesos

MYR = Malaysian ringgits

NZD = New Zealand dollars

PLN = Polish zloty

Ref. = Refunding

REIT = Real Estate Investment Trust

Rev. = Revenue

RUB = Russian rubles

SEK = Swedish kronor

SOFR = Secured Overnight Financing Rate

SONIA = Sterling Overnight Interbank Average Rate

TBA = To be announced

TIIE = Equilibrium Interbank Interest Rate

USD = U.S. dollars

ZAR = South African rand

Refer to the notes to financial statements.

American Funds Insurance Series 175

The Bond Fund of America

**Investment portfolio** December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 95.37%** | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans 34.59%** |  |  |  |
| **Financials 9.65%** |  |  |  |
| ACE INA Holdings, Inc. 3.35% 5/3/2026 | USD | 2025 | $1941 |
| ACE INA Holdings, Inc. 4.35% 11/3/2045 |  | 2220 | 1933 |
| AerCap Ireland Capital DAC 1.65% 10/29/2024 |  | 5996 | 5535 |
| AerCap Ireland Capital DAC 6.50% 7/15/2025 |  | 1798 | 1824 |
| AerCap Ireland Capital DAC 1.75% 1/30/2026 |  | 2841 | 2503 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026 |  | 10289 | 9010 |
| AerCap Ireland Capital DAC 3.00% 10/29/2028 |  | 10345 | 8686 |
| AerCap Ireland Capital DAC 3.30% 1/30/2032 |  | 11338 | 8891 |
| AerCap Ireland Capital DAC 3.40% 10/29/2033 |  | 5120 | 3896 |
| AerCap Ireland Capital DAC 3.85% 10/29/2041 |  | 1254 | 891 |
| AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 1.15% 10/29/2023 |  | 3130 | 3013 |
| Ally Financial, Inc. 5.125% 9/30/2024 |  | 1500 | 1486 |
| Ally Financial, Inc. 8.00% 11/1/2031 |  | 8075 | 8418 |
| American Express Co. 4.42% 8/3/2033 (USD-SOFR + 1.76% on 8/3/2032)<sup>1</sup> |  | 4501 | 4265 |
| Arthur J. Gallagher & Co. 3.50% 5/20/2051 |  | 1073 | 754 |
| Banco Santander, SA 5.147% 8/18/2025 |  | 4000 | 3960 |
| Banco Santander, SA 1.722% 9/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on 9/14/2026)<sup>1</sup> |  | 1400 | 1198 |
| Bank of America Corp. 1.53% 12/6/2025 (USD-SOFR + 0.65% on 12/6/2024)<sup>1</sup> |  | 1970 | 1818 |
| Bank of America Corp. 1.658% 3/11/2027 (USD-SOFR + 0.91% on 3/11/2026)<sup>1</sup> |  | 981 | 869 |
| Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)<sup>1</sup> |  | 7989 | 7009 |
| Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027)<sup>1</sup> |  | 2635 | 2524 |
| Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027)<sup>1</sup> |  | 11107 | 10866 |
| Bank of America Corp. 6.204% 11/10/2028 (USD-SOFR + 1.99% on 11/10/2027)<sup>1</sup> |  | 1502 | 1553 |
| Bank of America Corp. 3.419% 12/20/2028 (3-month USD-LIBOR + 1.04% on 12/20/2027)<sup>1</sup> |  | 10129 | 9189 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028)<sup>1</sup> |  | 2773 | 2338 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030)<sup>1</sup> |  | 21177 | 16224 |
| Bank of America Corp. 2.687% 4/22/2032 (USD-SOFR + 1.32% on 4/22/2031)<sup>1</sup> |  | 8343 | 6698 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031)<sup>1</sup> |  | 36155 | 27930 |
| Bank of America Corp. 2.572% 10/20/2032 (USD-SOFR + 1.21% on 10/20/2031)<sup>1</sup> |  | 2613 | 2053 |
| Bank of America Corp. 2.972% 2/4/2033 (USD-SOFR + 1.33% on 2/4/2032)<sup>1</sup> |  | 4089 | 3305 |
| Bank of America Corp. 4.571% 4/27/2033 (USD-SOFR + 1.83% on 4/27/2032)<sup>1</sup> |  | 10180 | 9340 |
| Bank of America Corp. 5.015% 7/22/2033 (USD-SOFR + 2.16% on 7/22/2032)<sup>1</sup> |  | 7947 | 7568 |
| Bank of Ireland Group PLC 6.253% 9/16/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.65% on 9/16/2025)<sup>1,2</sup> |  | 4850 | 4814 |
| Barclays Bank PLC 5.304% 8/9/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 8/9/2025)<sup>1</sup> |  | 4525 | 4496 |
| BNP Paribas SA 1.323% 1/13/2027 (USD-SOFR + 1.004% on 1/13/2026)<sup>1,2</sup> |  | 7581 | 6634 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027)<sup>1,2</sup> |  | 13134 | 11569 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028)<sup>1,2</sup> |  | 3594 | 2936 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031)<sup>1,2</sup> |  | 4177 | 3276 |
| Canadian Imperial Bank of Commerce (CIBC) 3.60% 4/7/2032 |  | 1303 | 1152 |
| Capital One Financial Corp. 1.343% 12/6/2024 (USD-SOFR + 0.69% on 12/6/2023)<sup>1</sup> |  | 4525 | 4334 |
| Capital One Financial Corp. 4.985% 7/24/2026 (USD-SOFR + 2.16% on 7/24/2025)<sup>1</sup> |  | 2430 | 2382 |
| Capital One Financial Corp. 4.927% 5/10/2028 (USD-SOFR + 2.057% on 5/10/2027)<sup>1</sup> |  | 4650 | 4509 |
| China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031 |  | 1126 | 880 |
| CIT Group, Inc. 3.929% 6/19/2024 (USD-SOFR + 3.827% on 6/19/2023)<sup>1</sup> |  | 5410 | 5364 |
| Citigroup, Inc. 4.60% 3/9/2026 |  | 1800 | 1770 |
| Citigroup, Inc. 1.462% 6/9/2027 (USD-SOFR + 0.67% on 6/9/2026)<sup>1</sup> |  | 8740 | 7591 |
| Citigroup, Inc. 3.07% 2/24/2028 (USD-SOFR + 1.28% on 2/24/2027)<sup>1</sup> |  | 5520 | 4984 |
| Citigroup, Inc. 4.658% 5/24/2028 (USD-SOFR + 1.887% on 5/24/2027)<sup>1</sup> |  | 3386 | 3282 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032)<sup>1</sup> |  | 1030 | 834 |
| Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032)<sup>1</sup> |  | 5350 | 4590 |
| Citigroup, Inc. 4.91% 5/24/2033 (USD-SOFR + 2.086% on 5/24/2032)<sup>1</sup> |  | 1718 | 1614 |
| Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032)<sup>1</sup> |  | 2781 | 2878 |
| Corebridge Financial, Inc. 3.50% 4/4/2025<sup>2</sup> |  | 1439 | 1381 |
| Corebridge Financial, Inc. 3.65% 4/5/2027<sup>2</sup> |  | 4493 | 4195 |
| Corebridge Financial, Inc. 3.85% 4/5/2029<sup>2</sup> |  | 5794 | 5289 |
| Corebridge Financial, Inc. 3.90% 4/5/2032<sup>2</sup> |  | 5959 | 5221 |
| Corebridge Financial, Inc. 4.35% 4/5/2042<sup>2</sup> |  | 361 | 298 |

---

176 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Corebridge Financial, Inc. 4.40% 4/5/2052<sup>2</sup> | USD | 1352 | $1078 |
| Crédit Agricole SA 1.907% 6/16/2026 (USD-SOFR + 1.676% on 6/16/2025)<sup>1,2</sup> |  | 4450 | 4060 |
| Crédit Agricole SA 1.247% 1/26/2027 (USD-SOFR + 0.892% on 1/26/2026)<sup>1,2</sup> |  | 2450 | 2145 |
| Credit Suisse Group AG 3.80% 6/9/2023 |  | 15327 | 14927 |
| Credit Suisse Group AG 2.593% 9/11/2025 (USD-SOFR + 1.56% on 9/11/2024)<sup>1,2</sup> |  | 850 | 752 |
| Credit Suisse Group AG 2.193% 6/5/2026 (USD-SOFR + 2.044% on 6/5/2025)<sup>1,2</sup> |  | 7609 | 6505 |
| Credit Suisse Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026)<sup>1,2</sup> |  | 11200 | 8973 |
| Credit Suisse Group AG 6.442% 8/11/2028 (USD-SOFR + 3.70% on 8/11/2027)<sup>1,2</sup> |  | 1265 | 1154 |
| Credit Suisse Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030)<sup>1,2</sup> |  | 5476 | 4262 |
| Credit Suisse Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031)<sup>1,2</sup> |  | 7369 | 5106 |
| Credit Suisse Group AG 6.537% 8/12/2033 (USD-SOFR + 3.92% on 8/12/2032)<sup>1,2</sup> |  | 576 | 507 |
| Credit Suisse Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032)<sup>1,2</sup> |  | 6658 | 6835 |
| Danske Bank AS 1.549% 9/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.73% on 9/10/2026)<sup>1,2</sup> |  | 2990 | 2565 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)<sup>1,2</sup> |  | 2975 | 2740 |
| Deutsche Bank AG 3.95% 2/27/2023 |  | 6350 | 6328 |
| Deutsche Bank AG 0.898% 5/28/2024 |  | 2500 | 2339 |
| Deutsche Bank AG 3.70% 5/30/2024 |  | 5150 | 5007 |
| Deutsche Bank AG 2.222% 9/18/2024 (USD-SOFR + 2.159% on 9/18/2023)<sup>1</sup> |  | 10475 | 10120 |
| Deutsche Bank AG 3.961% 11/26/2025 (USD-SOFR + 2.581% on 11/26/2024)<sup>1</sup> |  | 3673 | 3512 |
| Deutsche Bank AG 4.10% 1/13/2026 |  | 7305 | 7029 |
| Deutsche Bank AG 4.10% 1/13/2026 |  | 857 | 824 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025)<sup>1</sup> |  | 41608 | 36749 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)<sup>1</sup> |  | 4315 | 3664 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027)<sup>1</sup> |  | 7258 | 6179 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030)<sup>1</sup> |  | 2900 | 2331 |
| Discover Financial Services 6.70% 11/29/2032 |  | 1475 | 1504 |
| DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on 5/25/2026)<sup>1,2</sup> |  | 1200 | 1045 |
| GE Capital Funding, LLC 4.55% 5/15/2032 |  | 973 | 927 |
| Goldman Sachs Group, Inc. 1.431% 3/9/2027 (USD-SOFR + 0.795% on 3/9/2026)<sup>1</sup> |  | 3030 | 2660 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026)<sup>1</sup> |  | 13275 | 11468 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026)<sup>1</sup> |  | 13961 | 12226 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027)<sup>1</sup> |  | 1758 | 1568 |
| Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027)<sup>1</sup> |  | 7403 | 6907 |
| Goldman Sachs Group, Inc. 4.482% 8/23/2028 (USD-SOFR + 1.725% on 8/23/2027)<sup>1</sup> |  | 1534 | 1473 |
| Goldman Sachs Group, Inc. 3.814% 4/23/2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)<sup>1</sup> |  | 9600 | 8786 |
| Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032)<sup>1</sup> |  | 10422 | 8490 |
| Goldman Sachs Group, Inc. 2.908% 7/21/2042 (USD-SOFR + 1.40% on 7/21/2041)<sup>1</sup> |  | 3160 | 2161 |
| Goldman Sachs Group, Inc. 5.30% junior subordinated perpetual bonds (3-month USD-LIBOR + 3.834% on 11/10/2026)<sup>1</sup> |  | 1750 | 1665 |
| Groupe BPCE SA 2.75% 1/11/2023<sup>2</sup> |  | 6875 | 6871 |
| Groupe BPCE SA 5.70% 10/22/2023<sup>2</sup> |  | 28166 | 27963 |
| Groupe BPCE SA 5.15% 7/21/2024<sup>2</sup> |  | 5481 | 5369 |
| Groupe BPCE SA 1.625% 1/14/2025<sup>2</sup> |  | 2980 | 2776 |
| Groupe BPCE SA 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025)<sup>1,2</sup> |  | 6350 | 5649 |
| Groupe BPCE SA 5.748% 7/19/2033 (USD-SOFR + 2.865% on 7/19/2032)<sup>1,2</sup> |  | 6195 | 5908 |
| HSBC Holdings PLC 2.251% 11/22/2027 (USD-SOFR + 1.10% on 11/22/2026)<sup>1</sup> |  | 5270 | 4571 |
| HSBC Holdings PLC 4.583% 6/19/2029 (3-month USD-LIBOR + 1.535% on 6/19/2028)<sup>1</sup> |  | 6410 | 5913 |
| HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028)<sup>1</sup> |  | 5917 | 4786 |
| HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031)<sup>1</sup> |  | 5250 | 4074 |
| HSBC Holdings PLC 5.402% 8/11/2033 (USD-SOFR + 2.87% on 8/11/2032)<sup>1</sup> |  | 3595 | 3339 |
| Huarong Finance 2017 Co., Ltd. 4.75% 4/27/2027 |  | 669 | 585 |
| Huarong Finance 2017 Co., Ltd. 4.25% 11/7/2027 |  | 6335 | 5422 |
| Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.125%) 5.824% 2/24/2023<sup>3</sup> |  | 2750 | 2741 |
| Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.25%) 6.007% 2/24/2025<sup>3</sup> |  | 397 | 374 |
| Huarong Finance II Co., Ltd. 5.50% 1/16/2025 |  | 6669 | 6328 |

---

American Funds Insurance Series 177

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Huarong Finance II Co., Ltd. 5.00% 11/19/2025 | USD | 480 | $444 |
| Huarong Finance II Co., Ltd. 4.625% 6/3/2026 |  | 200 | 177 |
| Huarong Finance II Co., Ltd. 4.875% 11/22/2026 |  | 2106 | 1886 |
| Intercontinental Exchange, Inc. 4.35% 6/15/2029 |  | 8710 | 8433 |
| Intercontinental Exchange, Inc. 4.60% 3/15/2033 |  | 4601 | 4408 |
| Intercontinental Exchange, Inc. 4.95% 6/15/2052 |  | 5327 | 4963 |
| Intesa Sanpaolo SpA 3.375% 1/12/2023<sup>2</sup> |  | 10035 | 10030 |
| Intesa Sanpaolo SpA 5.017% 6/26/2024<sup>2</sup> |  | 68143 | 65545 |
| Intesa Sanpaolo SpA 3.25% 9/23/2024<sup>2</sup> |  | 770 | 731 |
| Intesa Sanpaolo SpA 5.71% 1/15/2026<sup>2</sup> |  | 15400 | 14816 |
| Intesa Sanpaolo SpA 3.875% 7/14/2027<sup>2</sup> |  | 6250 | 5581 |
| Intesa Sanpaolo SpA 3.875% 1/12/2028<sup>2</sup> |  | 1986 | 1753 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032<sup>2</sup> |  | 2060 | 1714 |
| JPMorgan Chase & Co. 0.969% 6/23/2025 (USD-SOFR + 0.58% on 6/23/2024)<sup>1</sup> |  | 5870 | 5475 |
| JPMorgan Chase & Co. 1.561% 12/10/2025 (USD-SOFR + 0.605% on 12/10/2024)<sup>1</sup> |  | 11105 | 10289 |
| JPMorgan Chase & Co. 4.08% 4/26/2026 (USD-SOFR + 1.32% on 4/26/2025)<sup>1</sup> |  | 3620 | 3518 |
| JPMorgan Chase & Co. 1.578% 4/22/2027 (USD-SOFR + 0.885% on 4/22/2026)<sup>1</sup> |  | 1832 | 1612 |
| JPMorgan Chase & Co. 1.47% 9/22/2027 (USD-SOFR + 0.765% on 9/22/2026)<sup>1</sup> |  | 5965 | 5172 |
| JPMorgan Chase & Co. 2.947% 2/24/2028 (USD-SOFR + 1.17% on 2/24/2027)<sup>1</sup> |  | 4350 | 3941 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027)<sup>1</sup> |  | 12080 | 11555 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)<sup>1</sup> |  | 8465 | 8265 |
| JPMorgan Chase & Co. 3.509% 1/23/2029 (3-month USD-LIBOR + 0.945% on 1/23/2028)<sup>1</sup> |  | 9600 | 8729 |
| JPMorgan Chase & Co. 2.069% 6/1/2029 (USD-SOFR + 1.015% on 6/1/2028)<sup>1</sup> |  | 2453 | 2053 |
| JPMorgan Chase & Co. 4.203% 7/23/2029 (3-month USD-LIBOR + 1.26% on 7/23/2028)<sup>1</sup> |  | 11980 | 11186 |
| JPMorgan Chase & Co. 2.522% 4/22/2031 (USD-SOFR + 2.04% on 4/22/2030)<sup>1</sup> |  | 1766 | 1449 |
| JPMorgan Chase & Co. 2.58% 4/22/2032 (USD-SOFR + 1.25% on 4/22/2031)<sup>1</sup> |  | 4802 | 3858 |
| JPMorgan Chase & Co. 2.545% 11/8/2032 (USD-SOFR + 1.18% on 11/8/2031)<sup>1</sup> |  | 5313 | 4213 |
| JPMorgan Chase & Co. 2.963% 1/25/2033 (USD-SOFR + 1.26% on 1/25/2032)<sup>1</sup> |  | 553 | 452 |
| JPMorgan Chase & Co. 4.586% 4/26/2033 (USD-SOFR + 1.80% on 4/26/2032)<sup>1</sup> |  | 1907 | 1771 |
| JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)<sup>1</sup> |  | 5475 | 5229 |
| Kasikornbank PCL HK 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)<sup>1</sup> |  | 2415 | 2128 |
| Keb Hana Bank 3.25% 3/30/2027<sup>2</sup> |  | 1315 | 1227 |
| Lloyds Banking Group PLC 2.438% 2/5/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on 2/5/2025)<sup>1</sup> |  | 2675 | 2493 |
| Marsh & McLennan Companies, Inc. 2.375% 12/15/2031 |  | 367 | 297 |
| Marsh & McLennan Companies, Inc. 2.90% 12/15/2051 |  | 505 | 326 |
| MetLife Capital Trust IV, junior subordinated, 7.875% 12/15/2067 (3-month USD-LIBOR + 3.96% on 12/1/2037)<sup>1,2</sup> |  | 1405 | 1521 |
| MetLife, Inc. 3.60% 11/13/2025 |  | 3490 | 3395 |
| MetLife, Inc. 5.00% 7/15/2052 |  | 165 | 158 |
| Mitsubishi UFJ Financial Group, Inc. 0.962% 10/11/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.45% on 10/11/2024)<sup>1</sup> |  | 2960 | 2724 |
| Mitsubishi UFJ Financial Group, Inc. 1.538% 7/20/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on 7/20/2026)<sup>1</sup> |  | 6200 | 5383 |
| Mitsubishi UFJ Financial Group, Inc. 1.64% 10/13/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.67% on 10/13/2026)<sup>1</sup> |  | 2225 | 1930 |
| Mitsubishi UFJ Financial Group, Inc. 2.341% 1/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.83% on 1/19/2027)<sup>1</sup> |  | 2970 | 2618 |
| Mitsubishi UFJ Financial Group, Inc. 4.08% 4/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.30% on 4/19/2027)<sup>1</sup> |  | 2945 | 2781 |
| Mitsubishi UFJ Financial Group, Inc. 5.133% 7/20/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.125% on 7/20/2032)<sup>1</sup> |  | 1197 | 1146 |
| Mizuho Financial Group, Inc. 1.554% 7/9/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on 7/9/2026)<sup>1</sup> |  | 4615 | 4026 |
| Mizuho Financial Group, Inc. 5.669% 9/13/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.40% on 9/13/2032)<sup>1</sup> |  | 2390 | 2379 |
| Morgan Stanley 0.791% 1/22/2025 (USD-SOFR + 0.509% on 1/22/2024)<sup>1</sup> |  | 3065 | 2901 |
| Morgan Stanley 2.72% 7/22/2025 (USD-SOFR + 1.152% on 7/22/2024)<sup>1</sup> |  | 2300 | 2200 |

---

178 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026)<sup>1</sup> | USD | 10488 | $9114 |
| Morgan Stanley 4.21% 4/20/2028 (USD-SOFR + 1.61% on 4/20/2027)<sup>1</sup> |  | 3671 | 3497 |
| Morgan Stanley 6.296% 10/18/2028 (USD-SOFR + 2.44% on 10/18/2027)<sup>1</sup> |  | 2007 | 2075 |
| Morgan Stanley 2.239% 7/21/2032 (USD-SOFR + 1.178% on 7/21/2031)<sup>1</sup> |  | 26412 | 20326 |
| Morgan Stanley 2.511% 10/20/2032 (USD-SOFR + 1.20% on 10/20/2031)<sup>1</sup> |  | 2813 | 2209 |
| Morgan Stanley 2.943% 1/21/2033 (USD-SOFR + 1.29% on 1/21/2032)<sup>1</sup> |  | 6616 | 5369 |
| Morgan Stanley 4.889% 7/20/2033 (USD-SOFR + 2.077% on 7/20/2032)<sup>1</sup> |  | 3375 | 3181 |
| Morgan Stanley 6.342% 10/18/2033 (USD-SOFR + 2.565% on 10/18/2032)<sup>1</sup> |  | 3810 | 4004 |
| Morgan Stanley 5.297% 4/20/2037 (USD-SOFR + 2.62% on 4/20/2032)<sup>1</sup> |  | 2286 | 2096 |
| MSCI, Inc. 3.25% 8/15/2033<sup>2</sup> |  | 2750 | 2128 |
| Navient Corp. 6.75% 6/25/2025 |  | 425 | 409 |
| OneMain Holdings, Inc. 7.125% 3/15/2026 |  | 250 | 238 |
| Rede D'Or Finance SARL 4.50% 1/22/2030<sup>2</sup> |  | 1572 | 1355 |
| Santander Holdings USA, Inc. 3.50% 6/7/2024 |  | 8325 | 8092 |
| Santander Holdings USA, Inc. 2.49% 1/6/2028<sup>1</sup> |  | 3625 | 3115 |
| State Street Corp. 4.164% 8/4/2033 (USD-SOFR + 1.726% on 8/4/2032)<sup>1</sup> |  | 1640 | 1520 |
| Sumitomo Mitsui Banking Corp. 2.174% 1/14/2027 |  | 1100 | 977 |
| SVB Financial Group 4.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)<sup>1</sup> |  | 1530 | 971 |
| Synchrony Financial 4.375% 3/19/2024 |  | 3640 | 3576 |
| Toronto-Dominion Bank 1.95% 1/12/2027 |  | 1060 | 946 |
| Travelers Companies, Inc. 2.55% 4/27/2050 |  | 768 | 478 |
| U.S. Bancorp 4.548% 7/22/2028 (USD-SOFR + 1.66% on 7/27/2027)<sup>1</sup> |  | 2440 | 2387 |
| UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 8/10/2026)<sup>1,2</sup> |  | 4000 | 3446 |
| UniCredit SpA 4.625% 4/12/2027<sup>2</sup> |  | 1395 | 1307 |
| UniCredit SpA 5.861% 6/19/2032 (5-year USD-ICE Swap + 3.703% on 6/19/2027)<sup>1,2</sup> |  | 16130 | 14182 |
| Vigorous Champion International, Ltd. 4.25% 5/28/2029 |  | 462 | 415 |
| Wells Fargo & Company 2.406% 10/30/2025 (3-month USD-LIBOR + 0.825% on 10/30/2024)<sup>1</sup> |  | 20480 | 19382 |
| Wells Fargo & Company 3.908% 4/25/2026 (USD-SOFR + 1.32% on 4/25/2025)<sup>1</sup> |  | 3524 | 3428 |
| Wells Fargo & Company 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027)<sup>1</sup> |  | 9236 | 8569 |
| Wells Fargo & Company 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027)<sup>1</sup> |  | 7450 | 7289 |
| Wells Fargo & Company 3.35% 3/2/2033 (USD-SOFR + 1.50% on 3/2/2032)<sup>1</sup> |  | 7665 | 6478 |
| Wells Fargo & Company 4.897% 7/25/2033 (USD-SOFR + 4.897% on 7/25/2032)<sup>1</sup> |  | 3675 | 3500 |
| Wells Fargo & Company 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)<sup>1</sup> |  | 20666 | 17607 |
| Willis North America, Inc. 4.65% 6/15/2027 |  | 1290 | 1248 |
|  |  |  | **986796** |
| **Utilities 4.42%** |  |  |  |
| AEP Texas, Inc. 3.45% 5/15/2051 |  | 1475 | 1048 |
| Alabama Power Co. 3.00% 3/15/2052 |  | 3697 | 2458 |
| Alfa Desarrollo SpA 4.55% 9/27/2051<sup>2</sup> |  | 1001 | 763 |
| Ameren Corp. 4.50% 3/15/2049 |  | 2875 | 2634 |
| Baltimore Gas & Electric 4.55% 6/1/2052 |  | 525 | 467 |
| Berkshire Hathaway Energy Company 4.50% 2/1/2045 |  | 5895 | 5161 |
| Comisión Federal de Electricidad 4.688% 5/15/2029<sup>2</sup> |  | 3655 | 3249 |
| Comisión Federal de Electricidad 3.875% 7/26/2033<sup>2</sup> |  | 1340 | 1019 |
| Connecticut Light and Power Co. 2.05% 7/1/2031 |  | 1775 | 1430 |
| Consumers Energy Co. 4.05% 5/15/2048 |  | 1413 | 1173 |
| Consumers Energy Co. 3.75% 2/15/2050 |  | 5625 | 4416 |
| Consumers Energy Co. 3.10% 8/15/2050 |  | 4123 | 2883 |
| Consumers Energy Co. 3.50% 8/1/2051 |  | 235 | 178 |
| Duke Energy Corp. 3.75% 4/15/2024 |  | 3826 | 3760 |
| Duke Energy Corp. 4.50% 8/15/2032 |  | 7811 | 7340 |
| Duke Energy Corp. 3.50% 6/15/2051 |  | 1139 | 796 |
| Duke Energy Florida, LLC 3.40% 10/1/2046 |  | 5669 | 4098 |
| Duke Energy Florida, LLC 3.00% 12/15/2051 |  | 711 | 480 |
| Duke Energy Florida, LLC 5.95% 11/15/2052 |  | 575 | 616 |

---

American Funds Insurance Series 179

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Utilities (continued)** |  |  |  |
| Duke Energy Progress, LLC 3.70% 9/1/2028 | USD | 3750 | $3530 |
| Duke Energy Progress, LLC 2.00% 8/15/2031 |  | 1775 | 1407 |
| Duke Energy Progress, LLC 2.50% 8/15/2050 |  | 644 | 389 |
| Edison International 3.55% 11/15/2024 |  | 6850 | 6618 |
| Edison International 4.95% 4/15/2025 |  | 175 | 172 |
| Edison International 5.75% 6/15/2027 |  | 3181 | 3196 |
| Edison International 4.125% 3/15/2028 |  | 3644 | 3387 |
| Edison International 6.95% 11/15/2029 |  | 2525 | 2643 |
| Electricité de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on 6/1/2028)<sup>1</sup> | EUR | 2800 | 2346 |
| Emera US Finance, LP 0.833% 6/15/2024 | USD | 600 | 560 |
| Emera US Finance, LP 2.639% 6/15/2031 |  | 4400 | 3456 |
| Enel Società per Azioni 8.75% 9/24/2073 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 5.88% on 9/24/2023)<sup>1,2</sup> |  | 1000 | 1003 |
| ENN Clean Energy International Investment, Ltd. 3.375% 5/12/2026<sup>2</sup> |  | 1310 | 1143 |
| Entergy Louisiana, LLC 4.20% 9/1/2048 |  | 6325 | 5207 |
| Entergy Louisiana, LLC 4.75% 9/15/2052 |  | 1525 | 1377 |
| Eversource Energy 3.80% 12/1/2023 |  | 5000 | 4945 |
| FirstEnergy Corp. 1.60% 1/15/2026 |  | 20066 | 17774 |
| FirstEnergy Corp. 3.50% 4/1/2028<sup>2</sup> |  | 2400 | 2191 |
| FirstEnergy Corp. 4.10% 5/15/2028<sup>2</sup> |  | 425 | 401 |
| FirstEnergy Corp. 2.65% 3/1/2030 |  | 12524 | 10234 |
| FirstEnergy Corp. 2.25% 9/1/2030 |  | 13707 | 10904 |
| FirstEnergy Corp., Series B, 4.40% 7/15/2027 (4.15% on 1/15/2023)<sup>1</sup> |  | 12178 | 11355 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028<sup>2</sup> |  | 4000 | 3498 |
| Florida Power & Light Company 2.45% 2/3/2032 |  | 4890 | 4087 |
| Florida Power & Light Company 2.875% 12/4/2051 |  | 9334 | 6305 |
| Georgia Power Co. 3.70% 1/30/2050 |  | 275 | 206 |
| Interchile SA 4.50% 6/30/2056<sup>2</sup> |  | 465 | 385 |
| Israel Electric Corp., Ltd. 4.25% 8/14/2028<sup>2</sup> |  | 10190 | 9649 |
| Israel Electric Corp., Ltd. 3.75% 2/22/2032<sup>2</sup> |  | 340 | 299 |
| ITC Holdings Corp. 3.35% 11/15/2027 |  | 1118 | 1031 |
| Jersey Central Power & Light Co. 2.75% 3/1/2032<sup>2</sup> |  | 525 | 425 |
| Mississippi Power Co. 4.25% 3/15/2042 |  | 5020 | 4093 |
| Monongahela Power Co. 3.55% 5/15/2027<sup>2</sup> |  | 1700 | 1600 |
| NextEra Energy Capital Holdings, Inc. 1.875% 1/15/2027 |  | 2772 | 2457 |
| Northern States Power Co. 4.50% 6/1/2052 |  | 3328 | 3035 |
| Oncor Electric Delivery Company, LLC 4.15% 6/1/2032<sup>2</sup> |  | 1035 | 980 |
| Oncor Electric Delivery Company, LLC 4.55% 9/15/2032<sup>2</sup> |  | 975 | 958 |
| Pacific Gas and Electric Co. 3.25% 6/15/2023 |  | 5615 | 5554 |
| Pacific Gas and Electric Co. 3.40% 8/15/2024 |  | 2000 | 1920 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026 |  | 27543 | 25623 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026 |  | 10850 | 9956 |
| Pacific Gas and Electric Co. 3.30% 3/15/2027 |  | 5850 | 5212 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027 |  | 12289 | 10865 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028 |  | 13075 | 11621 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028 |  | 7900 | 7278 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030 |  | 35299 | 32078 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031 |  | 19695 | 15326 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031 |  | 1300 | 1060 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040 |  | 8898 | 6055 |
| Pacific Gas and Electric Co. 3.75% 8/15/2042 |  | 9466 | 6383 |
| Pacific Gas and Electric Co. 4.75% 2/15/2044 |  | 336 | 258 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050 |  | 6836 | 4272 |
| Public Service Electric and Gas Co. 3.20% 5/15/2029 |  | 6000 | 5456 |
| Public Service Electric and Gas Co. 1.90% 8/15/2031 |  | 775 | 618 |
| Public Service Electric and Gas Co. 3.10% 3/15/2032 |  | 7500 | 6577 |
| Puget Energy, Inc. 3.65% 5/15/2025 |  | 300 | 286 |
| Southern California Edison Co. 4.20% 3/1/2029 |  | 11000 | 10485 |
| Southern California Edison Co. 2.85% 8/1/2029 |  | 8200 | 7144 |
| Southern California Edison Co. 2.50% 6/1/2031 |  | 5149 | 4256 |

---

180 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Utilities (continued)** |  |  |  |
| Southern California Edison Co. 5.95% 11/1/2032 | USD | 1100 | $1166 |
| Southern California Edison Co. 5.75% 4/1/2035 |  | 4549 | 4546 |
| Southern California Edison Co. 5.35% 7/15/2035 |  | 6450 | 6267 |
| Southern California Edison Co. 5.625% 2/1/2036 |  | 7051 | 6888 |
| Southern California Edison Co. 5.55% 1/15/2037 |  | 3844 | 3774 |
| Southern California Edison Co. 5.95% 2/1/2038 |  | 5121 | 5188 |
| Southern California Edison Co. 4.00% 4/1/2047 |  | 9402 | 7391 |
| Southern California Edison Co. 4.125% 3/1/2048 |  | 5765 | 4628 |
| Southern California Edison Co. 4.875% 3/1/2049 |  | 555 | 491 |
| Southern California Edison Co. 3.65% 2/1/2050 |  | 8086 | 5943 |
| Southern California Edison Co., Series C, 3.60% 2/1/2045 |  | 2717 | 1960 |
| Southwestern Electric Power Co. 1.65% 3/15/2026 |  | 3550 | 3179 |
| Southwestern Electric Power Co. 3.25% 11/1/2051 |  | 2270 | 1502 |
| Union Electric Co. 2.15% 3/15/2032 |  | 3175 | 2518 |
| Virginia Electric and Power Co. 2.30% 11/15/2031 |  | 2425 | 1958 |
| Virginia Electric and Power Co. 2.40% 3/30/2032 |  | 5345 | 4333 |
| WEC Energy Group, Inc. 2.20% 12/15/2028 |  | 1575 | 1336 |
| Wisconsin Electric Power Co. 2.85% 12/1/2051 |  | 375 | 241 |
| Wisconsin Power and Light Co. 1.95% 9/16/2031 |  | 525 | 413 |
| Wisconsin Power and Light Co. 3.65% 4/1/2050 |  | 1075 | 793 |
| Xcel Energy, Inc. 3.30% 6/1/2025 |  | 5650 | 5428 |
| Xcel Energy, Inc. 1.75% 3/15/2027 |  | 5660 | 4966 |
| Xcel Energy, Inc. 2.60% 12/1/2029 |  | 2925 | 2504 |
| Xcel Energy, Inc. 2.35% 11/15/2031 |  | 9059 | 7263 |
| Xcel Energy, Inc. 4.60% 6/1/2032 |  | 11675 | 11185 |
|  |  |  | **451359** |
| **Consumer discretionary 4.21%** |  |  |  |
| Allied Universal Holdco, LLC 4.625% 6/1/2028<sup>2</sup> |  | 335 | 277 |
| Amazon.com, Inc. 3.30% 4/13/2027 |  | 1760 | 1673 |
| Amazon.com, Inc. 1.65% 5/12/2028 |  | 3860 | 3321 |
| Amazon.com, Inc. 3.45% 4/13/2029 |  | 1305 | 1222 |
| Amazon.com, Inc. 3.60% 4/13/2032 |  | 6830 | 6271 |
| Amazon.com, Inc. 2.875% 5/12/2041 |  | 650 | 488 |
| Amazon.com, Inc. 3.10% 5/12/2051 |  | 9380 | 6727 |
| Amazon.com, Inc. 3.95% 4/13/2052 |  | 1635 | 1362 |
| Amazon.com, Inc. 3.25% 5/12/2061 |  | 4100 | 2828 |
| Amazon.com, Inc. 4.10% 4/13/2062 |  | 470 | 391 |
| Atlas LuxCo 4 SARL 4.625% 6/1/2028<sup>2</sup> |  | 255 | 207 |
| Bath & Body Works, Inc. 6.875% 11/1/2035 |  | 740 | 659 |
| Bayerische Motoren Werke AG 1.25% 8/12/2026<sup>2</sup> |  | 100 | 88 |
| Bayerische Motoren Werke AG 3.45% 4/1/2027<sup>2</sup> |  | 1075 | 1016 |
| Bayerische Motoren Werke AG 1.95% 8/12/2031<sup>2</sup> |  | 620 | 486 |
| Bayerische Motoren Werke AG 3.70% 4/1/2032<sup>2</sup> |  | 1350 | 1210 |
| Daimler Trucks Finance North America, LLC 1.125% 12/14/2023<sup>2</sup> |  | 3015 | 2898 |
| Daimler Trucks Finance North America, LLC 1.625% 12/13/2024<sup>2</sup> |  | 4950 | 4597 |
| Daimler Trucks Finance North America, LLC 3.50% 4/7/2025<sup>2</sup> |  | 1750 | 1680 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027<sup>2</sup> |  | 4140 | 3875 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028<sup>2</sup> |  | 3975 | 3348 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031<sup>2</sup> |  | 9625 | 7486 |
| DaimlerChrysler North America Holding Corp. 3.35% 2/22/2023<sup>2</sup> |  | 2000 | 1993 |
| DaimlerChrysler North America Holding Corp. 1.75% 3/10/2023<sup>2</sup> |  | 8000 | 7953 |
| Ford Motor Co. 2.90% 2/10/2029 |  | 1065 | 852 |
| Ford Motor Credit Company, LLC 5.125% 6/16/2025 |  | 3870 | 3729 |
| Ford Motor Credit Company, LLC 4.271% 1/9/2027 |  | 18542 | 16803 |
| Ford Motor Credit Company, LLC 4.125% 8/17/2027 |  | 39080 | 35066 |
| Ford Motor Credit Company, LLC 3.815% 11/2/2027 |  | 3790 | 3337 |
| Ford Motor Credit Company, LLC 7.35% 11/4/2027 |  | 6289 | 6460 |
| Ford Motor Credit Company, LLC 5.113% 5/3/2029 |  | 4205 | 3817 |
| General Motors Company 4.35% 4/9/2025 |  | 11358 | 11059 |

---

American Funds Insurance Series 181

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| General Motors Company 6.125% 10/1/2025 | USD | 23743 | $24188 |
| General Motors Company 5.40% 10/15/2029 |  | 781 | 747 |
| General Motors Company 5.40% 4/1/2048 |  | 7200 | 5915 |
| General Motors Financial Co. 3.25% 1/5/2023 |  | 964 | 964 |
| General Motors Financial Co. 1.05% 3/8/2024 |  | 4200 | 3990 |
| General Motors Financial Co. 1.50% 6/10/2026 |  | 6712 | 5837 |
| General Motors Financial Co. 2.35% 2/26/2027 |  | 9771 | 8547 |
| General Motors Financial Co. 2.40% 4/10/2028 |  | 13909 | 11722 |
| General Motors Financial Co. 2.40% 10/15/2028 |  | 464 | 386 |
| General Motors Financial Co. 3.60% 6/21/2030 |  | 465 | 392 |
| General Motors Financial Co. 2.35% 1/8/2031 |  | 6075 | 4594 |
| General Motors Financial Co. 2.70% 6/10/2031 |  | 5495 | 4223 |
| Grand Canyon University 4.125% 10/1/2024 |  | 4190 | 3941 |
| Home Depot, Inc. 2.95% 6/15/2029 |  | 6081 | 5515 |
| Home Depot, Inc. 4.50% 12/6/2048 |  | 1915 | 1747 |
| Hyundai Capital America 2.375% 2/10/2023<sup>2</sup> |  | 9977 | 9955 |
| Hyundai Capital America 1.25% 9/18/2023<sup>2</sup> |  | 3150 | 3054 |
| Hyundai Capital America 0.875% 6/14/2024<sup>2</sup> |  | 380 | 355 |
| Hyundai Capital America 3.40% 6/20/2024<sup>2</sup> |  | 8180 | 7899 |
| Hyundai Capital America 1.00% 9/17/2024<sup>2</sup> |  | 2750 | 2543 |
| Hyundai Capital America 2.65% 2/10/2025<sup>2</sup> |  | 12372 | 11645 |
| Hyundai Capital America 1.80% 10/15/2025<sup>2</sup> |  | 13274 | 11952 |
| Hyundai Capital America 1.30% 1/8/2026<sup>2</sup> |  | 6000 | 5254 |
| Hyundai Capital America 1.50% 6/15/2026<sup>2</sup> |  | 7475 | 6485 |
| Hyundai Capital America 1.65% 9/17/2026<sup>2</sup> |  | 7275 | 6403 |
| Hyundai Capital America 3.00% 2/10/2027<sup>2</sup> |  | 9000 | 8090 |
| Hyundai Capital America 2.375% 10/15/2027<sup>2</sup> |  | 7543 | 6465 |
| Hyundai Capital America 1.80% 1/10/2028<sup>2</sup> |  | 5965 | 4901 |
| Hyundai Capital America 2.00% 6/15/2028<sup>2</sup> |  | 5775 | 4714 |
| Hyundai Capital America 2.10% 9/15/2028<sup>2</sup> |  | 3010 | 2476 |
| Hyundai Capital Services, Inc. 1.25% 2/8/2026<sup>2</sup> |  | 3695 | 3213 |
| KIA Corp. 2.375% 2/14/2025<sup>2</sup> |  | 1580 | 1467 |
| Marriott International, Inc. 5.75% 5/1/2025 |  | 330 | 333 |
| Marriott International, Inc. 3.125% 6/15/2026 |  | 410 | 384 |
| Marriott International, Inc. 5.00% 10/15/2027 |  | 4470 | 4418 |
| Marriott International, Inc. 2.75% 10/15/2033 |  | 2226 | 1705 |
| McDonald's Corp. 2.125% 3/1/2030 |  | 2482 | 2082 |
| McDonald's Corp. 4.60% 9/9/2032 |  | 1765 | 1731 |
| McDonald's Corp. 4.45% 3/1/2047 |  | 3535 | 3082 |
| McDonald's Corp. 3.625% 9/1/2049 |  | 2938 | 2224 |
| McDonald's Corp. 5.15% 9/9/2052 |  | 730 | 704 |
| Meituan Dianping 3.05% 10/28/2030<sup>2</sup> |  | 3200 | 2471 |
| Nissan Motor Co., Ltd. 3.043% 9/15/2023<sup>2</sup> |  | 240 | 235 |
| Nissan Motor Co., Ltd. 3.522% 9/17/2025<sup>2</sup> |  | 800 | 744 |
| Nissan Motor Co., Ltd. 2.00% 3/9/2026<sup>2</sup> |  | 12000 | 10333 |
| Nissan Motor Co., Ltd. 2.75% 3/9/2028<sup>2</sup> |  | 11200 | 9089 |
| Nissan Motor Co., Ltd. 4.81% 9/17/2030<sup>2</sup> |  | 16083 | 13685 |
| Sands China, Ltd. 2.80% 3/8/2027<sup>1</sup> |  | 2368 | 2031 |
| Starbucks Corp. 3.75% 12/1/2047 |  | 3785 | 2891 |
| Stellantis Finance US, Inc. 1.711% 1/29/2027<sup>2</sup> |  | 6921 | 5948 |
| Stellantis Finance US, Inc. 5.625% 1/12/2028<sup>2</sup> |  | 825 | 818 |
| Stellantis Finance US, Inc. 2.691% 9/15/2031<sup>2</sup> |  | 6554 | 5016 |
| Stellantis Finance US, Inc. 6.375% 9/12/2032<sup>2</sup> |  | 12065 | 11946 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030 |  | 4954 | 4505 |
| Volkswagen Group of America Finance, LLC 4.25% 11/13/2023<sup>2</sup> |  | 15000 | 14858 |
| Volkswagen Group of America Finance, LLC 2.85% 9/26/2024<sup>2</sup> |  | 546 | 523 |
| Volkswagen Group of America Finance, LLC 3.35% 5/13/2025<sup>2</sup> |  | 2636 | 2520 |

---

182 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Volkswagen Group of America Finance, LLC 1.625% 11/24/2027<sup>2</sup> | USD | 2550 | $2139 |
| Wyndham Destinations, Inc. 6.625% 7/31/2026<sup>2</sup> |  | 675 | 662 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029<sup>2</sup> |  | 410 | 352 |
|  |  |  | **430187** |
| **Health care 3.84%** |  |  |  |
| AbbVie, Inc. 3.20% 11/21/2029 |  | 8482 | 7666 |
| AbbVie, Inc. 4.25% 11/21/2049 |  | 8 | 7 |
| Amgen, Inc. 3.00% 2/22/2029 |  | 325 | 288 |
| Amgen, Inc. 4.05% 8/18/2029 |  | 8400 | 7869 |
| Amgen, Inc. 2.45% 2/21/2030 |  | 5131 | 4329 |
| Amgen, Inc. 4.20% 3/1/2033 |  | 9522 | 8839 |
| Amgen, Inc. 4.875% 3/1/2053 |  | 4975 | 4440 |
| Amgen, Inc. 4.40% 2/22/2062 |  | 196 | 156 |
| Anthem, Inc. 2.375% 1/15/2025 |  | 1534 | 1457 |
| Anthem, Inc. 4.10% 5/15/2032 |  | 8711 | 8128 |
| Anthem, Inc. 4.55% 5/15/2052 |  | 1721 | 1504 |
| AstraZeneca Finance, LLC 1.75% 5/28/2028 |  | 1429 | 1229 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031 |  | 2087 | 1741 |
| AstraZeneca PLC 4.00% 1/17/2029 |  | 5920 | 5694 |
| Bausch Health Companies, Inc. 4.875% 6/1/2028<sup>2</sup> |  | 830 | 529 |
| Baxter International, Inc. 2.539% 2/1/2032 |  | 3906 | 3113 |
| Bayer US Finance II, LLC 4.25% 12/15/2025<sup>2</sup> |  | 17570 | 17043 |
| Becton, Dickinson and Company 4.298% 8/22/2032 |  | 545 | 512 |
| Centene Corp. 4.25% 12/15/2027 |  | 14860 | 13969 |
| Centene Corp. 2.45% 7/15/2028 |  | 12410 | 10499 |
| Centene Corp. 4.625% 12/15/2029 |  | 14945 | 13691 |
| Centene Corp. 3.375% 2/15/2030 |  | 15718 | 13323 |
| Centene Corp. 2.50% 3/1/2031 |  | 8550 | 6707 |
| Centene Corp. 2.625% 8/1/2031 |  | 2510 | 1977 |
| Danaher Corp. 2.80% 12/10/2051 |  | 1090 | 725 |
| Eli Lilly and Company 3.375% 3/15/2029 |  | 1255 | 1177 |
| GE Healthcare Holding, LLC 5.65% 11/15/2027<sup>2</sup> |  | 4895 | 4961 |
| GE Healthcare Holding, LLC 5.857% 3/15/2030<sup>2</sup> |  | 1145 | 1175 |
| GE Healthcare Holding, LLC 5.905% 11/22/2032<sup>2</sup> |  | 8640 | 8980 |
| GE Healthcare Holding, LLC 6.377% 11/22/2052<sup>2</sup> |  | 375 | 401 |
| Gilead Sciences, Inc. 1.65% 10/1/2030 |  | 1570 | 1249 |
| HCA, Inc. 3.125% 3/15/2027<sup>2</sup> |  | 755 | 688 |
| HCA, Inc. 2.375% 7/15/2031 |  | 2318 | 1810 |
| HCA, Inc. 3.625% 3/15/2032<sup>2</sup> |  | 5000 | 4244 |
| HCA, Inc. 4.625% 3/15/2052<sup>2</sup> |  | 390 | 305 |
| Johnson & Johnson 0.95% 9/1/2027 |  | 12753 | 11001 |
| Johnson & Johnson 2.10% 9/1/2040 |  | 825 | 571 |
| Johnson & Johnson 2.25% 9/1/2050 |  | 1933 | 1205 |
| Laboratory Corporation of America Holdings 1.55% 6/1/2026 |  | 1058 | 938 |
| Laboratory Corporation of America Holdings 4.70% 2/1/2045 |  | 4160 | 3584 |
| Merck & Co., Inc. 1.70% 6/10/2027 |  | 3093 | 2747 |
| Merck & Co., Inc. 2.75% 12/10/2051 |  | 808 | 544 |
| Regeneron Pharmaceuticals, Inc. 1.75% 9/15/2030 |  | 1918 | 1486 |
| Roche Holdings, Inc. 1.93% 12/13/2028<sup>2</sup> |  | 7845 | 6720 |
| Roche Holdings, Inc. 2.076% 12/13/2031<sup>2</sup> |  | 12562 | 10254 |
| Roche Holdings, Inc. 2.607% 12/13/2051<sup>2</sup> |  | 645 | 421 |
| Shire PLC 3.20% 9/23/2026 |  | 13588 | 12762 |
| Teva Pharmaceutical Finance Co. BV 7.125% 1/31/2025 |  | 45000 | 44821 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  | 68853 | 60352 |
| Teva Pharmaceutical Finance Co. BV 6.75% 3/1/2028 |  | 26824 | 26215 |
| Teva Pharmaceutical Finance Co. BV 4.10% 10/1/2046 |  | 46666 | 28634 |
| UnitedHealth Group, Inc. 3.75% 7/15/2025 |  | 5410 | 5294 |
| UnitedHealth Group, Inc. 3.70% 5/15/2027 |  | 1184 | 1147 |
| UnitedHealth Group, Inc. 4.00% 5/15/2029 |  | 2231 | 2136 |

---

American Funds Insurance Series 183

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Health care (continued)** |  |  |  |
| UnitedHealth Group, Inc. 2.00% 5/15/2030 | USD | 855 | $707 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032 |  | 3169 | 3018 |
| UnitedHealth Group, Inc. 3.05% 5/15/2041 |  | 1300 | 982 |
| UnitedHealth Group, Inc. 4.25% 6/15/2048 |  | 960 | 834 |
| UnitedHealth Group, Inc. 3.25% 5/15/2051 |  | 927 | 668 |
| UnitedHealth Group, Inc. 4.75% 5/15/2052 |  | 1400 | 1300 |
| UnitedHealth Group, Inc. 4.95% 5/15/2062 |  | 294 | 277 |
| UnitedHealth Group, Inc. 6.05% 2/15/2063 |  | 230 | 251 |
| Zoetis, Inc. 5.60% 11/16/2032 |  | 2850 | 2964 |
|  |  |  | **392258** |
| **Communication services 3.31%** |  |  |  |
| AT&T, Inc. 1.70% 3/25/2026 |  | 19000 | 17145 |
| AT&T, Inc. 1.65% 2/1/2028 |  | 4700 | 3977 |
| AT&T, Inc. 4.30% 2/15/2030 |  | 15940 | 15047 |
| AT&T, Inc. 2.55% 12/1/2033 |  | 15003 | 11574 |
| AT&T, Inc. 3.50% 9/15/2053 |  | 19935 | 13545 |
| CCO Holdings, LLC 4.75% 2/1/2032<sup>2</sup> |  | 1265 | 1028 |
| CCO Holdings, LLC 4.25% 1/15/2034<sup>2</sup> |  | 3875 | 2867 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.125% 5/1/2027<sup>2</sup> |  | 4800 | 4484 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 2.25% 1/15/2029 |  | 1351 | 1090 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 2.80% 4/1/2031 |  | 8212 | 6412 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 4.40% 4/1/2033 |  | 2642 | 2268 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.75% 4/1/2048 |  | 5000 | 4114 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.25% 4/1/2053 |  | 1240 | 962 |
| CenturyLink, Inc. 4.00% 2/15/2027<sup>2</sup> |  | 10381 | 8821 |
| Comcast Corp. 3.15% 2/15/2028 |  | 7200 | 6660 |
| Comcast Corp. 4.00% 3/1/2048 |  | 5000 | 4033 |
| Meta Platforms, Inc. 4.45% 8/15/2052 |  | 3775 | 3019 |
| Netflix, Inc. 4.875% 4/15/2028 |  | 23259 | 22511 |
| Netflix, Inc. 5.875% 11/15/2028 |  | 29196 | 29664 |
| Netflix, Inc. 6.375% 5/15/2029 |  | 5078 | 5235 |
| Netflix, Inc. 5.375% 11/15/2029<sup>2</sup> |  | 15350 | 14917 |
| Netflix, Inc. 4.875% 6/15/2030<sup>2</sup> |  | 18215 | 17018 |
| News Corp. 5.125% 2/15/2032<sup>2</sup> |  | 1300 | 1185 |
| SBA Tower Trust 1.631% 11/15/2026<sup>2</sup> |  | 6741 | 5735 |
| Sirius XM Radio, Inc. 4.00% 7/15/2028<sup>2</sup> |  | 675 | 589 |
| Sprint Corp. 7.625% 2/15/2025 |  | 6665 | 6895 |
| Tencent Holdings, Ltd. 2.39% 6/3/2030<sup>2</sup> |  | 10000 | 8153 |
| T-Mobile US, Inc. 3.50% 4/15/2025 |  | 3275 | 3152 |
| T-Mobile US, Inc. 2.25% 2/15/2026 |  | 2388 | 2177 |
| T-Mobile US, Inc. 2.625% 4/15/2026 |  | 9691 | 8899 |
| T-Mobile US, Inc. 3.75% 4/15/2027 |  | 5000 | 4717 |
| T-Mobile US, Inc. 2.625% 2/15/2029 |  | 3117 | 2643 |
| T-Mobile US, Inc. 2.40% 3/15/2029 |  | 1224 | 1035 |
| T-Mobile US, Inc. 3.875% 4/15/2030 |  | 4500 | 4087 |
| T-Mobile US, Inc. 2.875% 2/15/2031 |  | 17956 | 14862 |
| T-Mobile US, Inc. 3.00% 2/15/2041 |  | 2100 | 1490 |
| T-Mobile US, Inc. 3.40% 10/15/2052 |  | 12280 | 8307 |
| Verizon Communications, Inc. 4.329% 9/21/2028 |  | 1539 | 1483 |
| Verizon Communications, Inc. 1.75% 1/20/2031 |  | 15450 | 12023 |
| Verizon Communications, Inc. 2.55% 3/21/2031 |  | 7535 | 6215 |
| Verizon Communications, Inc. 2.355% 3/15/2032 |  | 2815 | 2239 |
| Verizon Communications, Inc. 3.40% 3/22/2041 |  | 2050 | 1549 |
| Verizon Communications, Inc. 2.875% 11/20/2050 |  | 3000 | 1894 |
| Verizon Communications, Inc. 3.55% 3/22/2051 |  | 1975 | 1416 |
| Verizon Communications, Inc. 3.875% 3/1/2052 |  | 3155 | 2408 |
| Vodafone Group PLC 4.25% 9/17/2050 |  | 3050 | 2340 |
| WarnerMedia Holdings, Inc. 3.428% 3/15/2024<sup>2</sup> |  | 6552 | 6364 |
| WarnerMedia Holdings, Inc. 3.638% 3/15/2025<sup>2</sup> |  | 3056 | 2909 |

---

184 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Communication services (continued)** |  |  |  |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027<sup>2</sup> | USD | 9501 | $8569 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029<sup>2</sup> |  | 1316 | 1141 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032<sup>2</sup> |  | 4932 | 4075 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042<sup>2</sup> |  | 3147 | 2419 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052<sup>2</sup> |  | 10630 | 7769 |
| WarnerMedia Holdings, Inc. 5.391% 3/15/2062<sup>2</sup> |  | 2802 | 2057 |
| ZipRecruiter, Inc. 5.00% 1/15/2030<sup>2</sup> |  | 1500 | 1239 |
|  |  |  | **338426** |
| **Industrials 3.13%** |  |  |  |
| ADT Security Corp. 4.125% 8/1/2029<sup>2</sup> |  | 510 | 434 |
| Air Lease Corp. 0.80% 8/18/2024 |  | 3175 | 2926 |
| Air Lease Corp. 2.875% 1/15/2026 |  | 10172 | 9423 |
| Air Lease Corp. 2.20% 1/15/2027 |  | 4341 | 3789 |
| Air Lease Corp. 2.10% 9/1/2028 |  | 2450 | 2000 |
| Avolon Holdings Funding, Ltd. 3.95% 7/1/2024<sup>2</sup> |  | 12514 | 11987 |
| Avolon Holdings Funding, Ltd. 2.125% 2/21/2026<sup>2</sup> |  | 8333 | 7181 |
| Avolon Holdings Funding, Ltd. 4.25% 4/15/2026<sup>2</sup> |  | 3302 | 2997 |
| Avolon Holdings Funding, Ltd. 3.25% 2/15/2027<sup>2</sup> |  | 8000 | 6857 |
| Avolon Holdings Funding, Ltd. 2.528% 11/18/2027<sup>2</sup> |  | 2142 | 1715 |
| BNSF Funding Trust I, junior subordinated, 6.613% 12/15/2055 (3-month USD-LIBOR + 2.35% on 1/15/2026)<sup>1</sup> |  | 1680 | 1590 |
| Boeing Company 4.508% 5/1/2023 |  | 11358 | 11338 |
| Boeing Company 1.95% 2/1/2024 |  | 5646 | 5441 |
| Boeing Company 2.80% 3/1/2024 |  | 500 | 485 |
| Boeing Company 4.875% 5/1/2025 |  | 32512 | 32292 |
| Boeing Company 2.75% 2/1/2026 |  | 18384 | 17057 |
| Boeing Company 2.196% 2/4/2026 |  | 18411 | 16748 |
| Boeing Company 3.10% 5/1/2026 |  | 649 | 611 |
| Boeing Company 2.70% 2/1/2027 |  | 6473 | 5852 |
| Boeing Company 5.04% 5/1/2027 |  | 14350 | 14215 |
| Boeing Company 3.25% 2/1/2028 |  | 11379 | 10353 |
| Boeing Company 3.25% 3/1/2028 |  | 1925 | 1724 |
| Boeing Company 5.15% 5/1/2030 |  | 42874 | 41935 |
| Boeing Company 3.625% 2/1/2031 |  | 1602 | 1408 |
| Boeing Company 3.90% 5/1/2049 |  | 1411 | 997 |
| Boeing Company 5.805% 5/1/2050 |  | 4122 | 3843 |
| Canadian Pacific Railway, Ltd. 1.75% 12/2/2026 |  | 1982 | 1769 |
| Canadian Pacific Railway, Ltd. 2.45% 12/2/2031 |  | 3131 | 2602 |
| Canadian Pacific Railway, Ltd. 3.00% 12/2/2041 |  | 1677 | 1271 |
| Canadian Pacific Railway, Ltd. 3.10% 12/2/2051 |  | 3111 | 2106 |
| Carrier Global Corp. 3.377% 4/5/2040 |  | 15000 | 11443 |
| CSX Corp. 4.10% 11/15/2032 |  | 8010 | 7534 |
| CSX Corp. 4.50% 11/15/2052 |  | 6670 | 5828 |
| Dun & Bradstreet Corp. 5.00% 12/15/2029<sup>2</sup> |  | 2798 | 2398 |
| Eaton Corp. 4.15% 3/15/2033 |  | 1518 | 1416 |
| Eaton Corp. 4.70% 8/23/2052 |  | 535 | 487 |
| General Dynamics Corp. 3.625% 4/1/2030 |  | 675 | 629 |
| Mexico City Airport Trust 5.50% 10/31/2046 |  | 1959 | 1512 |
| Mexico City Airport Trust 5.50% 7/31/2047 |  | 5909 | 4564 |
| Mexico City Airport Trust 5.50% 7/31/2047<sup>2</sup> |  | 1132 | 874 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027<sup>2</sup> |  | 2690 | 2441 |
| Norfolk Southern Corp. 4.55% 6/1/2053 |  | 1188 | 1039 |
| Northrop Grumman Corp. 3.25% 1/15/2028 |  | 10845 | 10021 |
| Raytheon Technologies Corp. 1.90% 9/1/2031 |  | 3087 | 2431 |
| Raytheon Technologies Corp. 2.375% 3/15/2032 |  | 1321 | 1073 |
| Raytheon Technologies Corp. 2.82% 9/1/2051 |  | 665 | 434 |
| Raytheon Technologies Corp. 3.03% 3/15/2052 |  | 1190 | 812 |
| Republic Services, Inc. 2.375% 3/15/2033 |  | 1635 | 1309 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029<sup>2</sup> |  | 503 | 530 |

---

American Funds Insurance Series 185

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Industrials (continued)** |  |  |  |
| Summit Digitel Infrastructure Private, Ltd. 2.875% 8/12/2031<sup>2</sup> | USD | 2550 | $1962 |
| Triton Container International, Ltd. 1.15% 6/7/2024<sup>2</sup> |  | 1609 | 1489 |
| Triton Container International, Ltd. 3.15% 6/15/2031<sup>2</sup> |  | 2482 | 1934 |
| Union Pacific Corp. 2.15% 2/5/2027 |  | 2213 | 2002 |
| Union Pacific Corp. 2.40% 2/5/2030 |  | 4454 | 3820 |
| Union Pacific Corp. 2.375% 5/20/2031 |  | 3938 | 3326 |
| Union Pacific Corp. 2.80% 2/14/2032 |  | 6734 | 5832 |
| Union Pacific Corp. 3.375% 2/14/2042 |  | 530 | 424 |
| Union Pacific Corp. 3.25% 2/5/2050 |  | 7000 | 5078 |
| Union Pacific Corp. 2.95% 3/10/2052 |  | 1405 | 957 |
| United Rentals, Inc. 5.50% 5/15/2027 |  | 2500 | 2472 |
| United Technologies Corp. 3.125% 5/4/2027 |  | 4551 | 4245 |
| United Technologies Corp. 4.125% 11/16/2028 |  | 4974 | 4771 |
| Waste Management, Inc. 4.15% 4/15/2032 |  | 2155 | 2057 |
|  |  |  | **320090** |
| **Energy 2.54%** |  |  |  |
| Antero Resources Corp. 5.375% 3/1/2030<sup>2</sup> |  | 280 | 260 |
| Apache Corp. 4.625% 11/15/2025 |  | 645 | 624 |
| Apache Corp. 4.25% 1/15/2030 |  | 2465 | 2186 |
| Apache Corp. 5.35% 7/1/2049 |  | 800 | 648 |
| Baker Hughes Holdings, LLC 2.061% 12/15/2026 |  | 1136 | 1020 |
| Canadian Natural Resources, Ltd. 2.05% 7/15/2025 |  | 754 | 702 |
| Canadian Natural Resources, Ltd. 3.85% 6/1/2027 |  | 1151 | 1086 |
| Cenovus Energy, Inc. 5.375% 7/15/2025 |  | 2763 | 2756 |
| Cenovus Energy, Inc. 4.25% 4/15/2027 |  | 13613 | 13032 |
| Cenovus Energy, Inc. 2.65% 1/15/2032 |  | 2969 | 2378 |
| Cenovus Energy, Inc. 5.25% 6/15/2037 |  | 770 | 704 |
| Cenovus Energy, Inc. 5.40% 6/15/2047 |  | 14816 | 13323 |
| Cheniere Energy Partners, LP 3.25% 1/31/2032 |  | 937 | 746 |
| Chevron Corp. 2.954% 5/16/2026 |  | 3365 | 3196 |
| Chevron Corp. 3.078% 5/11/2050 |  | 692 | 500 |
| Devon Energy Corp. 4.50% 1/15/2030 |  | 5197 | 4850 |
| DT Midstream, Inc. 4.125% 6/15/2029<sup>2</sup> |  | 555 | 478 |
| Ecopetrol SA 5.875% 5/28/2045 |  | 452 | 316 |
| Enbridge, Inc. 4.00% 10/1/2023 |  | 1500 | 1488 |
| Energy Transfer Partners, LP 6.25% junior subordinated perpetual bonds (3-month USD-LIBOR + 4.028% on 2/15/2023)<sup>1</sup> |  | 7850 | 6682 |
| Energy Transfer Partners, LP 6.625% junior subordinated perpetual bonds (3-month USD-LIBOR + 4.155% on 2/15/2049)<sup>1</sup> |  | 500 | 373 |
| EQT Corp. 5.70% 4/1/2028 |  | 1223 | 1218 |
| EQT Corp. 7.25% 2/1/2030<sup>1</sup> |  | 7500 | 7791 |
| Equinor ASA 3.625% 9/10/2028 |  | 4928 | 4673 |
| Equinor ASA 3.125% 4/6/2030 |  | 20000 | 18004 |
| Equinor ASA 3.25% 11/18/2049 |  | 5687 | 4159 |
| Exxon Mobil Corp. 3.043% 3/1/2026 |  | 4625 | 4417 |
| Exxon Mobil Corp. 2.61% 10/15/2030 |  | 1040 | 911 |
| Occidental Petroleum Corp. 8.875% 7/15/2030 |  | 630 | 712 |
| Odebrecht Drilling Norbe 7.35% PIK 12/1/2026<sup>2,4</sup> |  | 40 | 22 |
| Odebrecht Drilling Norbe 0% perpetual bonds<sup>2</sup> |  | 1150 | 3 |
| Oleoducto Central SA 4.00% 7/14/2027<sup>2</sup> |  | 1715 | 1516 |
| Oleoducto Central SA 4.00% 7/14/2027 |  | 350 | 309 |
| Petróleos Mexicanos 3.50% 1/30/2023 |  | 1500 | 1496 |
| Petróleos Mexicanos 6.875% 10/16/2025 |  | 5000 | 4903 |
| Petróleos Mexicanos 6.875% 8/4/2026 |  | 24876 | 23550 |
| Petróleos Mexicanos 6.49% 1/23/2027 |  | 20653 | 18867 |
| Petróleos Mexicanos 6.50% 3/13/2027 |  | 31829 | 29102 |
| Petróleos Mexicanos 6.50% 1/23/2029 |  | 3139 | 2694 |
| Petróleos Mexicanos 8.75% 6/2/2029 |  | 5805 | 5451 |
| Petróleos Mexicanos 6.70% 2/16/2032 |  | 14854 | 11693 |

---

186 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| Qatar Petroleum 2.25% 7/12/2031<sup>2</sup> | USD | 22020 | $18281 |
| Qatar Petroleum 3.125% 7/12/2041<sup>2</sup> |  | 7310 | 5644 |
| Qatar Petroleum 3.30% 7/12/2051<sup>2</sup> |  | 2185 | 1619 |
| SA Global Sukuk, Ltd. 1.602% 6/17/2026<sup>2</sup> |  | 7645 | 6842 |
| Sabine Pass Liquefaction, LLC 5.75% 5/15/2024 |  | 5148 | 5152 |
| Shell International Finance BV 3.875% 11/13/2028 |  | 9410 | 9081 |
| Shell International Finance BV 2.75% 4/6/2030 |  | 1186 | 1043 |
| Southwestern Energy Co. 5.95% 1/23/2025<sup>1</sup> |  | 495 | 487 |
| Total Capital Canada, Ltd. 2.75% 7/15/2023 |  | 2140 | 2113 |
| Total Capital International 3.455% 2/19/2029 |  | 885 | 822 |
| TransCanada PipeLines, Ltd. 4.10% 4/15/2030 |  | 1578 | 1449 |
| Western Midstream Operating, LP 3.35% 2/1/2025<sup>1</sup> |  | 2782 | 2637 |
| Western Midstream Operating, LP 4.30% 2/1/2030<sup>1</sup> |  | 2202 | 1927 |
| Western Midstream Operating, LP 5.50% 2/1/2050<sup>1</sup> |  | 3079 | 2542 |
| Williams Partners, LP 4.50% 11/15/2023 |  | 500 | 497 |
| Williams Partners, LP 4.30% 3/4/2024 |  | 595 | 588 |
|  |  |  | **259563** |
| **Consumer staples 1.83%** |  |  |  |
| 7-Eleven, Inc. 1.80% 2/10/2031<sup>2</sup> |  | 4676 | 3582 |
| 7-Eleven, Inc. 2.80% 2/10/2051<sup>2</sup> |  | 5000 | 3082 |
| Altria Group, Inc. 4.40% 2/14/2026 |  | 4585 | 4494 |
| Altria Group, Inc. 4.50% 5/2/2043 |  | 1585 | 1196 |
| Altria Group, Inc. 5.95% 2/14/2049 |  | 8434 | 7539 |
| Anheuser-Busch InBev NV 4.75% 1/23/2029 |  | 7500 | 7419 |
| Anheuser-Busch InBev NV 5.55% 1/23/2049 |  | 5000 | 4971 |
| Anheuser-Busch InBev NV 4.50% 6/1/2050 |  | 1355 | 1192 |
| British American Tobacco International Finance PLC 3.95% 6/15/2025<sup>2</sup> |  | 16879 | 16226 |
| British American Tobacco International Finance PLC 1.668% 3/25/2026 |  | 4070 | 3611 |
| British American Tobacco PLC 3.557% 8/15/2027 |  | 9561 | 8750 |
| British American Tobacco PLC 4.448% 3/16/2028 |  | 3065 | 2844 |
| British American Tobacco PLC 2.259% 3/25/2028 |  | 4348 | 3616 |
| British American Tobacco PLC 4.742% 3/16/2032 |  | 2675 | 2381 |
| British American Tobacco PLC 4.39% 8/15/2037 |  | 1500 | 1171 |
| British American Tobacco PLC 4.54% 8/15/2047 |  | 13490 | 9582 |
| British American Tobacco PLC 4.758% 9/6/2049 |  | 21450 | 15620 |
| British American Tobacco PLC 5.65% 3/16/2052 |  | 430 | 356 |
| Conagra Brands, Inc. 5.30% 11/1/2038 |  | 436 | 412 |
| Conagra Brands, Inc. 5.40% 11/1/2048 |  | 57 | 53 |
| Constellation Brands, Inc. 3.50% 5/9/2027 |  | 7500 | 7035 |
| Constellation Brands, Inc. 4.35% 5/9/2027 |  | 890 | 868 |
| Constellation Brands, Inc. 2.875% 5/1/2030 |  | 620 | 529 |
| Constellation Brands, Inc. 2.25% 8/1/2031 |  | 1487 | 1185 |
| Constellation Brands, Inc. 4.75% 5/9/2032 |  | 2284 | 2205 |
| Imperial Tobacco Finance PLC 6.125% 7/27/2027<sup>2</sup> |  | 1810 | 1804 |
| JBS USA Lux SA 2.50% 1/15/2027<sup>2</sup> |  | 3880 | 3399 |
| JBS USA Lux SA 3.00% 2/2/2029<sup>2</sup> |  | 2709 | 2248 |
| JBS USA Lux SA 5.50% 1/15/2030<sup>2</sup> |  | 435 | 415 |
| JBS USA Lux SA 3.625% 1/15/2032<sup>2</sup> |  | 1430 | 1160 |
| JBS USA Lux SA 3.00% 5/15/2032<sup>2</sup> |  | 3430 | 2635 |
| JBS USA Lux SA 5.75% 4/1/2033<sup>2</sup> |  | 7368 | 7046 |
| Kraft Heinz Company 5.50% 6/1/2050 |  | 2725 | 2619 |
| PepsiCo, Inc. 1.95% 10/21/2031 |  | 6979 | 5658 |
| Philip Morris International, Inc. 5.00% 11/17/2025 |  | 6555 | 6592 |
| Philip Morris International, Inc. 5.125% 11/17/2027 |  | 4898 | 4942 |
| Philip Morris International, Inc. 5.625% 11/17/2029 |  | 4309 | 4382 |
| Philip Morris International, Inc. 5.75% 11/17/2032 |  | 6327 | 6470 |
| Philip Morris International, Inc. 4.125% 3/4/2043 |  | 4117 | 3270 |
| Philip Morris International, Inc. 4.875% 11/15/2043 |  | 5433 | 4774 |
| PT Indofood CBP Sukses Makmur Tbk 3.398% 6/9/2031 |  | 3110 | 2590 |

---

American Funds Insurance Series 187

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer staples (continued)** |  |  |  |
| PT Indofood CBP Sukses Makmur Tbk 4.745% 6/9/2051 | USD | 685 | $507 |
| Reynolds American, Inc. 4.45% 6/12/2025 |  | 14570 | 14267 |
| Reynolds American, Inc. 5.85% 8/15/2045 |  | 1688 | 1445 |
| Wal-Mart Stores, Inc. 4.15% 9/9/2032 |  | 570 | 557 |
| Wal-Mart Stores, Inc. 4.50% 9/9/2052 |  | 480 | 460 |
|  |  |  | **187159** |
| **Information technology 0.82%** |  |  |  |
| Analog Devices, Inc. 2.80% 10/1/2041 |  | 521 | 383 |
| Apple, Inc. 2.70% 8/5/2051 |  | 7080 | 4701 |
| Apple, Inc. 3.95% 8/8/2052 |  | 1805 | 1544 |
| Block, Inc. 2.75% 6/1/2026 |  | 1975 | 1767 |
| Block, Inc. 3.50% 6/1/2031 |  | 825 | 659 |
| Broadcom Corp. 3.875% 1/15/2027 |  | 7027 | 6657 |
| Broadcom, Inc. 4.00% 4/15/2029<sup>2</sup> |  | 1470 | 1338 |
| Broadcom, Inc. 4.15% 4/15/2032<sup>2</sup> |  | 2270 | 1999 |
| Broadcom, Inc. 3.469% 4/15/2034<sup>2</sup> |  | 33872 | 27121 |
| Broadcom, Inc. 3.137% 11/15/2035<sup>2</sup> |  | 2149 | 1587 |
| Broadcom, Inc. 3.187% 11/15/2036<sup>2</sup> |  | 4803 | 3465 |
| Broadcom, Inc. 4.926% 5/15/2037<sup>2</sup> |  | 4049 | 3547 |
| Global Payments, Inc. 2.90% 11/15/2031 |  | 1005 | 795 |
| Oracle Corp. 1.65% 3/25/2026 |  | 4867 | 4363 |
| Oracle Corp. 2.30% 3/25/2028 |  | 6875 | 5967 |
| Oracle Corp. 2.875% 3/25/2031 |  | 3345 | 2782 |
| Oracle Corp. 3.95% 3/25/2051 |  | 4869 | 3490 |
| PayPal Holdings, Inc. 5.05% 6/1/2052 |  | 3775 | 3439 |
| salesforce.com, inc. 1.95% 7/15/2031 |  | 3775 | 3019 |
| salesforce.com, inc. 2.70% 7/15/2041 |  | 875 | 628 |
| salesforce.com, inc. 2.90% 7/15/2051 |  | 5140 | 3393 |
| salesforce.com, inc. 3.05% 7/15/2061 |  | 265 | 170 |
| VeriSign, Inc. 2.70% 6/15/2031 |  | 1494 | 1220 |
|  |  |  | **84034** |
| **Real estate 0.70%** |  |  |  |
| American Tower Corp. 1.45% 9/15/2026 |  | 657 | 574 |
| American Tower Corp. 3.65% 3/15/2027 |  | 2291 | 2143 |
| Corporacion Inmobiliaria Vesta, SAB de CV, 3.625% 5/13/2031<sup>2</sup> |  | 395 | 318 |
| Corporate Office Properties, LP 2.00% 1/15/2029 |  | 1139 | 876 |
| Corporate Office Properties, LP 2.75% 4/15/2031 |  | 1547 | 1161 |
| Corporate Office Properties, LP 2.90% 12/1/2033 |  | 564 | 402 |
| Equinix, Inc. 2.90% 11/18/2026 |  | 3287 | 3009 |
| Equinix, Inc. 3.20% 11/18/2029 |  | 3846 | 3356 |
| Equinix, Inc. 2.50% 5/15/2031 |  | 7760 | 6254 |
| Equinix, Inc. 3.90% 4/15/2032 |  | 1155 | 1029 |
| Equinix, Inc. 3.40% 2/15/2052 |  | 1201 | 823 |
| Extra Space Storage, Inc. 2.35% 3/15/2032 |  | 698 | 530 |
| FibraSOMA 4.375% 7/22/2031<sup>2</sup> |  | 1475 | 1105 |
| Hospitality Properties Trust 4.50% 3/15/2025 |  | 855 | 739 |
| Hospitality Properties Trust 3.95% 1/15/2028 |  | 1710 | 1217 |
| Howard Hughes Corp. 4.375% 2/1/2031<sup>2</sup> |  | 675 | 547 |
| Invitation Homes Operating Partnership, LP 2.30% 11/15/2028 |  | 767 | 636 |
| Invitation Homes Operating Partnership, LP 2.00% 8/15/2031 |  | 2048 | 1518 |
| Invitation Homes Operating Partnership, LP 2.70% 1/15/2034 |  | 660 | 483 |
| Iron Mountain, Inc. 4.875% 9/15/2027<sup>2</sup> |  | 1605 | 1479 |
| Iron Mountain, Inc. 5.25% 3/15/2028<sup>2</sup> |  | 3500 | 3226 |
| Iron Mountain, Inc. 5.25% 7/15/2030<sup>2</sup> |  | 675 | 588 |
| Omega Healthcare Investors, Inc. 4.375% 8/1/2023 |  | 186 | 185 |
| Piedmont Operating Partnership, LP 4.45% 3/15/2024 |  | 1000 | 983 |
| Public Storage 1.95% 11/9/2028 |  | 993 | 849 |
| Public Storage 2.30% 5/1/2031 |  | 3195 | 2601 |

---

188 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Real estate (continued)** |  |  |  |
| Scentre Group 3.50% 2/12/2025<sup>2</sup> | USD | 4565 | $4372 |
| Sun Communities Operating, LP 2.30% 11/1/2028 |  | 1026 | 856 |
| Sun Communities Operating, LP 2.70% 7/15/2031 |  | 3877 | 3070 |
| VICI Properties, LP 4.375% 5/15/2025 |  | 670 | 652 |
| VICI Properties, LP 4.75% 2/15/2028 |  | 6844 | 6505 |
| VICI Properties, LP 4.95% 2/15/2030 |  | 5515 | 5257 |
| VICI Properties, LP 4.125% 8/15/2030<sup>2</sup> |  | 425 | 373 |
| VICI Properties, LP 5.125% 5/15/2032 |  | 11766 | 10917 |
| VICI Properties, LP 5.625% 5/15/2052 |  | 2695 | 2388 |
|  |  |  | **71021** |
| **Materials 0.13%** |  |  |  |
| Air Products and Chemicals, Inc. 2.70% 5/15/2040 |  | 2911 | 2178 |
| Celanese US Holdings, LLC 6.05% 3/15/2025 |  | 195 | 194 |
| Celanese US Holdings, LLC 6.165% 7/15/2027 |  | 2875 | 2840 |
| Celanese US Holdings, LLC 6.33% 7/15/2029 |  | 775 | 755 |
| Celanese US Holdings, LLC 6.379% 7/15/2032 |  | 2055 | 1960 |
| Glencore Funding, LLC 2.625% 9/23/2031<sup>2</sup> |  | 790 | 631 |
| Glencore Funding, LLC 3.375% 9/23/2051<sup>2</sup> |  | 370 | 242 |
| International Flavors & Fragrances, Inc. 2.30% 11/1/2030<sup>2</sup> |  | 3536 | 2813 |
| Methanex Corp. 5.125% 10/15/2027 |  | 510 | 474 |
| Nova Chemicals Corp. 4.25% 5/15/2029<sup>2</sup> |  | 425 | 348 |
| South32 Treasury, Ltd. 4.35% 4/14/2032<sup>2</sup> |  | 1384 | 1188 |
|  |  |  | **13623** |
| **Municipals 0.01%** |  |  |  |
| Aeropuerto International de Tocume SA 4.00% 8/11/2041<sup>2</sup> |  | 730 | 603 |
| Aeropuerto International de Tocume SA 5.125% 8/11/2061<sup>2</sup> |  | 565 | 464 |
|  |  |  | **1067** |
| **Total corporate bonds, notes & loans** |  |  | **3535583** |
| **U.S. Treasury bonds & notes 27.43%** |  |  |  |
| **U.S. Treasury 14.76%** |  |  |  |
| U.S. Treasury 0.125% 5/31/2023 |  | 39035 | 38325 |
| U.S. Treasury 2.25% 12/31/2023 |  | 24768 | 24174 |
| U.S. Treasury 1.50% 2/29/2024 |  | 9807 | 9455 |
| U.S. Treasury 2.50% 4/30/2024 |  | 22390 | 21755 |
| U.S. Treasury 0.375% 9/15/2024 |  | 15740 | 14672 |
| U.S. Treasury 4.50% 11/30/2024 |  | 38095 | 38103 |
| U.S. Treasury 3.00% 7/15/2025 |  | 97643 | 94593 |
| U.S. Treasury 4.00% 12/15/2025 |  | 67475 | 67053 |
| U.S. Treasury 0.375% 12/31/2025 |  | 44080 | 39409 |
| U.S. Treasury 0.375% 1/31/2026 |  | 40000 | 35602 |
| U.S. Treasury 0.75% 5/31/2026 |  | 20625 | 18401 |
| U.S. Treasury 0.75% 8/31/2026 |  | 26766 | 23705 |
| U.S. Treasury 1.375% 8/31/2026 |  | 45000 | 40809 |
| U.S. Treasury 0.50% 4/30/2027 |  | 45625 | 39295 |
| U.S. Treasury 2.75% 4/30/2027 |  | 11500 | 10903 |
| U.S. Treasury 2.25% 11/15/2027<sup>5</sup> |  | 105830 | 97546 |
| U.S. Treasury 6.125% 11/15/2027 |  | 24000 | 26188 |
| U.S. Treasury 3.875% 11/30/2027 |  | 46272 | 46021 |
| U.S. Treasury 1.25% 5/31/2028 |  | 21480 | 18605 |
| U.S. Treasury 3.875% 11/30/2029 |  | 149 | 148 |
| U.S. Treasury 3.875% 12/31/2029 |  | 5750 | 5710 |
| U.S. Treasury 1.625% 5/15/2031 |  | 1630 | 1372 |
| U.S. Treasury 4.125% 11/15/2032 |  | 15000 | 15299 |
| U.S. Treasury 4.25% 5/15/2039 |  | 106700 | 110123 |
| U.S. Treasury 1.125% 5/15/2040 |  | 124213 | 77947 |
| U.S. Treasury 1.375% 11/15/2040 |  | 40000 | 26058 |
| U.S. Treasury 1.875% 2/15/2041 |  | 46900 | 33221 |

---

American Funds Insurance Series 189

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury (continued)** |  |  |  |
| U.S. Treasury 2.00% 11/15/2041 | USD | 247 | $177 |
| U.S. Treasury 2.375% 2/15/2042 |  | 3271 | 2500 |
| U.S. Treasury 4.00% 11/15/2042 |  | 766 | 751 |
| U.S. Treasury 3.00% 2/15/2049 |  | 123340 | 102162 |
| U.S. Treasury 1.25% 5/15/2050 |  | 21285 | 11514 |
| U.S. Treasury 2.00% 8/15/2051 |  | 1587 | 1044 |
| U.S. Treasury 1.875% 11/15/2051 |  | 4670 | 2974 |
| U.S. Treasury 3.00% 8/15/2052<sup>5</sup> |  | 493436 | 409137 |
| U.S. Treasury 4.00% 11/15/2052 |  | 3800 | 3820 |
|  |  |  | **1508571** |
| **U.S. Treasury inflation-protected securities 12.67%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2023<sup>6</sup> |  | 206245 | 205862 |
| U.S. Treasury Inflation-Protected Security 0.625% 4/15/2023<sup>6</sup> |  | 85927 | 85102 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2023<sup>6</sup> |  | 6574 | 6498 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2024<sup>6</sup> |  | 255440 | 250190 |
| U.S. Treasury Inflation-Protected Security 0.50% 4/15/2024<sup>6</sup> |  | 29208 | 28425 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>6</sup> |  | 250395 | 242546 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>6</sup> |  | 57910 | 55812 |
| U.S. Treasury Inflation-Protected Security 0.25% 1/15/2025<sup>6</sup> |  | 26921 | 25840 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2025<sup>6</sup> |  | 28626 | 27283 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025<sup>6</sup> |  | 71002 | 68225 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2026<sup>6</sup> |  | 3300 | 3168 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026<sup>6</sup> |  | 13368 | 12538 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2027<sup>6</sup> |  | 66635 | 62091 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2027<sup>6</sup> |  | 85852 | 80941 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2027<sup>6</sup> |  | 21184 | 21157 |
| U.S. Treasury Inflation-Protected Security 0.50% 1/15/2028<sup>5,6</sup> |  | 90600 | 85240 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031<sup>6</sup> |  | 20209 | 17930 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2031<sup>6</sup> |  | 13385 | 11811 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051<sup>6</sup> |  | 6118 | 3947 |
|  |  |  | **1294606** |
| **Total U.S. Treasury bonds & notes** |  |  | **2803177** |
| **Mortgage-backed obligations 25.81%** |  |  |  |
| **Federal agency mortgage-backed obligations 23.23%** |  |  |  |
| Fannie Mae Pool #254764 5.50% 6/1/2023<sup>7</sup> |  | —<sup>8</sup> | —<sup>8</sup> |
| Fannie Mae Pool #AB1068 4.50% 5/1/2025<sup>7</sup> |  | 37 | 37 |
| Fannie Mae Pool #256133 4.50% 1/1/2026<sup>7</sup> |  | 32 | 31 |
| Fannie Mae Pool #AR3058 3.00% 1/1/2028<sup>7</sup> |  | 75 | 72 |
| Fannie Mae Pool #AS8018 3.00% 9/1/2031<sup>7</sup> |  | 44 | 42 |
| Fannie Mae Pool #BM4741 3.00% 4/1/2032<sup>7</sup> |  | 28 | 27 |
| Fannie Mae Pool #913966 6.00% 2/1/2037<sup>7</sup> |  | 34 | 36 |
| Fannie Mae Pool #945680 6.00% 9/1/2037<sup>7</sup> |  | 426 | 444 |
| Fannie Mae Pool #924866 2.765% 10/1/2037<sup>3,7</sup> |  | 419 | 410 |
| Fannie Mae Pool #988588 5.50% 8/1/2038<sup>7</sup> |  | 185 | 192 |
| Fannie Mae Pool #889982 5.50% 11/1/2038<sup>7</sup> |  | 919 | 953 |
| Fannie Mae Pool #AB1297 5.00% 8/1/2040<sup>7</sup> |  | 191 | 194 |
| Fannie Mae Pool #AH8144 5.00% 4/1/2041<sup>7</sup> |  | 805 | 810 |
| Fannie Mae Pool #AH9479 5.00% 4/1/2041<sup>7</sup> |  | 754 | 764 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041<sup>7</sup> |  | 952 | 963 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041<sup>7</sup> |  | 524 | 530 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041<sup>7</sup> |  | 444 | 452 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041<sup>7</sup> |  | 321 | 325 |
| Fannie Mae Pool #MA4501 2.00% 12/1/2041<sup>7</sup> |  | 9994 | 8437 |
| Fannie Mae Pool #MA4540 2.00% 2/1/2042<sup>7</sup> |  | 2628 | 2218 |
| Fannie Mae Pool #AZ3904 4.00% 5/1/2045<sup>7</sup> |  | 42 | 40 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045<sup>7</sup> |  | 2819 | 2610 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046<sup>7</sup> |  | 896 | 833 |
| Fannie Mae Pool #BD1968 4.00% 7/1/2046<sup>7</sup> |  | 792 | 757 |

---

190 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #BD5477 4.00% 7/1/2046<sup>7</sup> | USD | 137 | $132 |
| Fannie Mae Pool #BE0592 4.00% 11/1/2046<sup>7</sup> |  | 313 | 295 |
| Fannie Mae Pool #MA3058 4.00% 7/1/2047<sup>7</sup> |  | 42 | 40 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047<sup>7</sup> |  | 4696 | 4364 |
| Fannie Mae Pool #CA0706 4.00% 11/1/2047<sup>7</sup> |  | 91 | 87 |
| Fannie Mae Pool #BM4413 4.50% 12/1/2047<sup>7</sup> |  | 2854 | 2812 |
| Fannie Mae Pool #CA1189 3.50% 2/1/2048<sup>7</sup> |  | 1384 | 1285 |
| Fannie Mae Pool #BJ5749 4.00% 5/1/2048<sup>7</sup> |  | 16 | 16 |
| Fannie Mae Pool #BF0293 3.00% 7/1/2048<sup>7</sup> |  | 6893 | 6129 |
| Fannie Mae Pool #BF0318 3.50% 8/1/2048<sup>7</sup> |  | 5642 | 5198 |
| Fannie Mae Pool #FM4891 3.50% 10/1/2048<sup>7</sup> |  | 20838 | 19368 |
| Fannie Mae Pool #BM4676 4.00% 10/1/2048<sup>7</sup> |  | 13 | 12 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049<sup>7</sup> |  | 738 | 684 |
| Fannie Mae Pool #CA3807 3.00% 7/1/2049<sup>7</sup> |  | 1416 | 1267 |
| Fannie Mae Pool #CA3806 3.00% 7/1/2049<sup>7</sup> |  | 913 | 818 |
| Fannie Mae Pool #FM1262 4.00% 7/1/2049<sup>7</sup> |  | 22731 | 21695 |
| Fannie Mae Pool #FM0007 3.50% 9/1/2049<sup>7</sup> |  | 15691 | 14461 |
| Fannie Mae Pool #FM1589 3.50% 9/1/2049<sup>7</sup> |  | 4398 | 4048 |
| Fannie Mae Pool #FM1954 3.50% 11/1/2049<sup>7</sup> |  | 6796 | 6252 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050<sup>7</sup> |  | 6170 | 5302 |
| Fannie Mae Pool #FM5507 3.00% 7/1/2050<sup>7</sup> |  | 18556 | 16591 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050<sup>7</sup> |  | 6665 | 5981 |
| Fannie Mae Pool #BP6715 2.00% 9/1/2050<sup>7</sup> |  | 1 | 1 |
| Fannie Mae Pool #CA7028 2.50% 9/1/2050<sup>7</sup> |  | 1108 | 957 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050<sup>7</sup> |  | 1935 | 1646 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050<sup>7</sup> |  | 314 | 270 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050<sup>7</sup> |  | 7463 | 6437 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050<sup>7</sup> |  | 18989 | 17095 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050<sup>7</sup> |  | 12762 | 10450 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051<sup>7</sup> |  | 6306 | 5420 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051<sup>7</sup> |  | 21666 | 17724 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051<sup>7</sup> |  | 33 | 27 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051<sup>7</sup> |  | 20 | 16 |
| Fannie Mae Pool #FM7510 3.00% 6/1/2051<sup>7</sup> |  | 242 | 213 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051<sup>7</sup> |  | 533 | 457 |
| Fannie Mae Pool #FM8442 2.50% 8/1/2051<sup>7</sup> |  | 9106 | 7723 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051<sup>7</sup> |  | 1264 | 1074 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051<sup>7</sup> |  | 156 | 128 |
| Fannie Mae Pool #CB2402 2.50% 12/1/2051<sup>7</sup> |  | 4932 | 4181 |
| Fannie Mae Pool #FM9846 2.50% 12/1/2051<sup>7</sup> |  | 569 | 483 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051<sup>7</sup> |  | 27 | 25 |
| Fannie Mae Pool #FS2776 2.50% 1/1/2052<sup>7</sup> |  | 3264 | 2769 |
| Fannie Mae Pool #CB2765 2.00% 2/1/2052<sup>7</sup> |  | 6870 | 5649 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052<sup>7</sup> |  | 41218 | 36792 |
| Fannie Mae Pool #CB3744 2.50% 3/1/2052<sup>7</sup> |  | 1000 | 848 |
| Fannie Mae Pool #CB3170 3.00% 3/1/2052<sup>7</sup> |  | 392 | 345 |
| Fannie Mae Pool #BV7773 2.50% 4/1/2052<sup>7</sup> |  | 9356 | 7942 |
| Fannie Mae Pool #BV5370 2.50% 4/1/2052<sup>7</sup> |  | 8486 | 7196 |
| Fannie Mae Pool #BV2994 2.50% 4/1/2052<sup>7</sup> |  | 3401 | 2887 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052<sup>7</sup> |  | 780 | 662 |
| Fannie Mae Pool #BV7521 2.50% 5/1/2052<sup>7</sup> |  | 1000 | 848 |
| Fannie Mae Pool #CB3495 3.00% 5/1/2052<sup>7</sup> |  | 1174 | 1031 |
| Fannie Mae Pool #MA4599 3.00% 5/1/2052<sup>7</sup> |  | 500 | 439 |
| Fannie Mae Pool #BV9975 2.50% 6/1/2052<sup>7</sup> |  | 3301 | 2802 |
| Fannie Mae Pool #BV2452 3.00% 6/1/2052<sup>7</sup> |  | 739 | 649 |
| Fannie Mae Pool #CB4159 4.00% 7/1/2052<sup>7</sup> |  | 1689 | 1586 |
| Fannie Mae Pool #BW1001 4.50% 7/1/2052<sup>7</sup> |  | 675 | 651 |
| Fannie Mae Pool #BV2562 4.50% 7/1/2052<sup>7</sup> |  | 522 | 503 |
| Fannie Mae Pool #MA4699 3.50% 8/1/2052<sup>7</sup> |  | 900 | 819 |
| Fannie Mae Pool #MA4700 4.00% 8/1/2052<sup>7</sup> |  | 2823 | 2651 |
| Fannie Mae Pool #BV8024 4.00% 8/1/2052<sup>7</sup> |  | 2138 | 2008 |

---

American Funds Insurance Series 191

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #BW9409 4.50% 8/1/2052<sup>7</sup> | USD | 1998 | $1925 |
| Fannie Mae Pool #BW5751 4.50% 8/1/2052<sup>7</sup> |  | 1983 | 1910 |
| Fannie Mae Pool #BW2284 4.50% 8/1/2052<sup>7</sup> |  | 1944 | 1873 |
| Fannie Mae Pool #BW6191 4.50% 8/1/2052<sup>7</sup> |  | 999 | 965 |
| Fannie Mae Pool #BW7611 4.50% 8/1/2052<sup>7</sup> |  | 974 | 938 |
| Fannie Mae Pool #BW8077 4.50% 8/1/2052<sup>7</sup> |  | 90 | 86 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052<sup>7</sup> |  | 9060 | 8508 |
| Fannie Mae Pool #BW7326 4.00% 9/1/2052<sup>7</sup> |  | 1831 | 1720 |
| Fannie Mae Pool #BW9348 4.00% 9/1/2052<sup>7</sup> |  | 1588 | 1491 |
| Fannie Mae Pool #BW8103 4.00% 9/1/2052<sup>7</sup> |  | 1504 | 1412 |
| Fannie Mae Pool #BV0952 4.50% 9/1/2052<sup>7</sup> |  | 4153 | 4001 |
| Fannie Mae Pool #BW3812 4.50% 9/1/2052<sup>7</sup> |  | 3994 | 3848 |
| Fannie Mae Pool #BW9386 4.50% 9/1/2052<sup>7</sup> |  | 2996 | 2888 |
| Fannie Mae Pool #BV0957 4.50% 9/1/2052<sup>7</sup> |  | 2996 | 2887 |
| Fannie Mae Pool #BW8692 4.50% 9/1/2052<sup>7</sup> |  | 999 | 963 |
| Fannie Mae Pool #BW9180 4.50% 9/1/2052<sup>7</sup> |  | 420 | 405 |
| Fannie Mae Pool #BW8497 4.50% 9/1/2052<sup>7</sup> |  | 65 | 63 |
| Fannie Mae Pool #BW7702 4.50% 9/1/2052<sup>7</sup> |  | 42 | 40 |
| Fannie Mae Pool #MA4761 5.00% 9/1/2052<sup>7</sup> |  | 36426 | 35956 |
| Fannie Mae Pool #BW1295 3.50% 10/1/2052<sup>7</sup> |  | 574 | 522 |
| Fannie Mae Pool #BW8980 4.00% 10/1/2052<sup>7</sup> |  | 5933 | 5571 |
| Fannie Mae Pool #BW1210 4.00% 10/1/2052<sup>7</sup> |  | 4482 | 4208 |
| Fannie Mae Pool #BW7356 4.00% 10/1/2052<sup>7</sup> |  | 3728 | 3500 |
| Fannie Mae Pool #BX0509 4.00% 10/1/2052<sup>7</sup> |  | 1604 | 1506 |
| Fannie Mae Pool #CB4794 4.50% 10/1/2052<sup>7</sup> |  | 15949 | 15370 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>7</sup> |  | 10684 | 10294 |
| Fannie Mae Pool #BW8745 4.50% 10/1/2052<sup>7</sup> |  | 4974 | 4792 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052<sup>7</sup> |  | 2995 | 2885 |
| Fannie Mae Pool #BW7795 4.50% 10/1/2052<sup>7</sup> |  | 496 | 478 |
| Fannie Mae Pool #BW8592 4.50% 10/1/2052<sup>7</sup> |  | 149 | 143 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052<sup>7</sup> |  | 294 | 303 |
| Fannie Mae Pool #MA4854 2.50% 11/1/2052<sup>7</sup> |  | 902 | 765 |
| Fannie Mae Pool #MA4803 3.50% 11/1/2052<sup>7</sup> |  | 7069 | 6431 |
| Fannie Mae Pool #MA4804 4.00% 11/1/2052<sup>7</sup> |  | 9106 | 8550 |
| Fannie Mae Pool #BW1310 4.00% 11/1/2052<sup>7</sup> |  | 1677 | 1574 |
| Fannie Mae Pool #BX1042 4.50% 11/1/2052<sup>7</sup> |  | 548 | 528 |
| Fannie Mae Pool #BX1516 4.50% 11/1/2052<sup>7</sup> |  | 542 | 523 |
| Fannie Mae Pool #BX1035 4.50% 11/1/2052<sup>7</sup> |  | 308 | 297 |
| Fannie Mae Pool #BX3075 4.50% 11/1/2052<sup>7</sup> |  | 291 | 280 |
| Fannie Mae Pool #BX2558 4.50% 11/1/2052<sup>7</sup> |  | 62 | 60 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052<sup>7</sup> |  | 36 | 35 |
| Fannie Mae Pool #BW1380 4.50% 12/1/2052<sup>7</sup> |  | 13486 | 12993 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052<sup>7</sup> |  | 4721 | 4549 |
| Fannie Mae Pool #MA4841 5.00% 12/1/2052<sup>7</sup> |  | 4013 | 3961 |
| Fannie Mae Pool #MA4877 6.50% 12/1/2052<sup>7</sup> |  | 58203 | 59707 |
| Fannie Mae Pool #BX4022 6.50% 12/1/2052<sup>7</sup> |  | 200 | 205 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>7</sup> |  | 8583 | 8472 |
| Fannie Mae Pool #MA4895 6.50% 1/1/2053<sup>7</sup> |  | 4225 | 4335 |
| Fannie Mae Pool #BF0145 3.50% 3/1/2057<sup>7</sup> |  | 11899 | 10887 |
| Fannie Mae Pool #BF0264 3.50% 5/1/2058<sup>7</sup> |  | 9059 | 8322 |
| Fannie Mae Pool #BF0332 3.00% 1/1/2059<sup>7</sup> |  | 19463 | 17158 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060<sup>7</sup> |  | 22447 | 19666 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061<sup>7</sup> |  | 1326 | 1293 |
| Fannie Mae, Series 2001-4, Class GA, 9.00% 4/17/2025<sup>3,7</sup> |  | —<sup>8</sup> | —<sup>8</sup> |
| Fannie Mae, Series 2001-50, Class BA, 7.00% 10/25/2041<sup>7</sup> |  | 7 | 7 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041<sup>7</sup> |  | 17 | 19 |
| Fannie Mae, Series 2002-W1, Class 2A, 4.915% 2/25/2042<sup>3,7</sup> |  | 21 | 21 |
| Freddie Mac Pool #ZS8507 3.00% 11/1/2028<sup>7</sup> |  | 113 | 108 |
| Freddie Mac Pool #ZK7590 3.00% 1/1/2029<sup>7</sup> |  | 2445 | 2346 |
| Freddie Mac Pool #A15120 5.50% 10/1/2033<sup>7</sup> |  | 51 | 52 |
| Freddie Mac Pool #QN1073 3.00% 12/1/2034<sup>7</sup> |  | 46 | 44 |

---

192 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #G05196 5.50% 10/1/2038<sup>7</sup> | USD | 50 | $52 |
| Freddie Mac Pool #G05267 5.50% 12/1/2038<sup>7</sup> |  | 37 | 39 |
| Freddie Mac Pool #G06020 5.50% 12/1/2039<sup>7</sup> |  | 72 | 75 |
| Freddie Mac Pool #G05860 5.50% 2/1/2040<sup>7</sup> |  | 265 | 275 |
| Freddie Mac Pool #A93948 4.50% 9/1/2040<sup>7</sup> |  | 157 | 156 |
| Freddie Mac Pool #G06868 4.50% 4/1/2041<sup>7</sup> |  | 177 | 176 |
| Freddie Mac Pool #G06841 5.50% 6/1/2041<sup>7</sup> |  | 422 | 439 |
| Freddie Mac Pool #RB5138 2.00% 12/1/2041<sup>7</sup> |  | 2632 | 2222 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042<sup>7</sup> |  | 2569 | 2169 |
| Freddie Mac Pool #RB5148 2.00% 3/1/2042<sup>7</sup> |  | 5501 | 4643 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046<sup>7</sup> |  | 20778 | 18802 |
| Freddie Mac Pool #ZT2100 3.00% 4/1/2047<sup>7</sup> |  | 109 | 98 |
| Freddie Mac Pool #G08789 4.00% 11/1/2047<sup>7</sup> |  | 628 | 603 |
| Freddie Mac Pool #G61733 3.00% 12/1/2047<sup>7</sup> |  | 5178 | 4642 |
| Freddie Mac Pool #G67709 3.50% 3/1/2048<sup>7</sup> |  | 13489 | 12616 |
| Freddie Mac Pool #G61628 3.50% 9/1/2048<sup>7</sup> |  | 330 | 307 |
| Freddie Mac Pool #Q58494 4.00% 9/1/2048<sup>7</sup> |  | 1273 | 1217 |
| Freddie Mac Pool #ZN4842 3.50% 4/1/2049<sup>7</sup> |  | 751 | 693 |
| Freddie Mac Pool #RA1369 3.50% 9/1/2049<sup>7</sup> |  | 1997 | 1840 |
| Freddie Mac Pool #SD7508 3.50% 10/1/2049<sup>7</sup> |  | 10988 | 10187 |
| Freddie Mac Pool #QA4673 3.00% 11/1/2049<sup>7</sup> |  | 29606 | 26538 |
| Freddie Mac Pool #SD8090 2.00% 9/1/2050<sup>7</sup> |  | 1362 | 1115 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050<sup>7</sup> |  | 2836 | 2321 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051<sup>7</sup> |  | 115 | 94 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051<sup>7</sup> |  | 191 | 156 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051<sup>7</sup> |  | 2916 | 2387 |
| Freddie Mac Pool #SD1852 2.50% 6/1/2051<sup>7</sup> |  | 13776 | 11687 |
| Freddie Mac Pool #QC2817 2.50% 6/1/2051<sup>7</sup> |  | 2789 | 2389 |
| Freddie Mac Pool #QC7173 2.50% 9/1/2051<sup>7</sup> |  | 3203 | 2723 |
| Freddie Mac Pool #QD1746 2.50% 11/1/2051<sup>7</sup> |  | 3044 | 2585 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051<sup>7</sup> |  | 1671 | 1434 |
| Freddie Mac Pool #RA6485 3.00% 12/1/2051<sup>7</sup> |  | 35637 | 31327 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052<sup>7</sup> |  | 11001 | 9407 |
| Freddie Mac Pool #QD5725 2.50% 1/1/2052<sup>7</sup> |  | 2995 | 2544 |
| Freddie Mac Pool #QD4799 2.50% 1/1/2052<sup>7</sup> |  | 1000 | 848 |
| Freddie Mac Pool #RA6608 3.00% 2/1/2052<sup>7</sup> |  | 888 | 780 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052<sup>7</sup> |  | 867 | 790 |
| Freddie Mac Pool #QE0327 2.50% 4/1/2052<sup>7</sup> |  | 1000 | 849 |
| Freddie Mac Pool #QE2020 2.50% 5/1/2052<sup>7</sup> |  | 7000 | 5941 |
| Freddie Mac Pool #SD8219 2.50% 6/1/2052<sup>7</sup> |  | 73484 | 62311 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052<sup>7</sup> |  | 3363 | 2957 |
| Freddie Mac Pool #QE4855 3.50% 6/1/2052<sup>7</sup> |  | 68 | 62 |
| Freddie Mac Pool #QE4084 6.50% 6/1/2052<sup>7</sup> |  | 333 | 345 |
| Freddie Mac Pool #SD8234 2.50% 8/1/2052<sup>7</sup> |  | 5524 | 4684 |
| Freddie Mac Pool #SD8237 4.00% 8/1/2052<sup>7</sup> |  | 2186 | 2053 |
| Freddie Mac Pool #QE9057 4.00% 8/1/2052<sup>7</sup> |  | 1368 | 1285 |
| Freddie Mac Pool #QE8065 4.50% 8/1/2052<sup>7</sup> |  | 4104 | 3954 |
| Freddie Mac Pool #QE7539 4.50% 8/1/2052<sup>7</sup> |  | 2160 | 2083 |
| Freddie Mac Pool #QE8253 4.50% 8/1/2052<sup>7</sup> |  | 1712 | 1649 |
| Freddie Mac Pool #QE6903 4.50% 8/1/2052<sup>7</sup> |  | 248 | 239 |
| Freddie Mac Pool #QE7702 4.50% 8/1/2052<sup>7</sup> |  | 35 | 34 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052<sup>7</sup> |  | 73 | 64 |
| Freddie Mac Pool #QE9625 4.00% 9/1/2052<sup>7</sup> |  | 1763 | 1655 |
| Freddie Mac Pool #SD8244 4.00% 9/1/2052<sup>7</sup> |  | 1457 | 1368 |
| Freddie Mac Pool #QE9919 4.50% 9/1/2052<sup>7</sup> |  | 23534 | 22676 |
| Freddie Mac Pool #QF0313 4.50% 9/1/2052<sup>7</sup> |  | 9988 | 9636 |
| Freddie Mac Pool #QF0660 4.50% 9/1/2052<sup>7</sup> |  | 2996 | 2889 |
| Freddie Mac Pool #QE9813 4.50% 9/1/2052<sup>7</sup> |  | 406 | 392 |
| Freddie Mac Pool #QF0820 4.50% 9/1/2052<sup>7</sup> |  | 366 | 353 |
| Freddie Mac Pool #RA7930 4.50% 9/1/2052<sup>7</sup> |  | 306 | 295 |
| Freddie Mac Pool #QF1205 4.50% 9/1/2052<sup>7</sup> |  | 298 | 287 |

---

American Funds Insurance Series 193

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #QF0311 5.00% 9/1/2052<sup>7</sup> | USD | 17998 | $17766 |
| Freddie Mac Pool #QF2029 3.00% 10/1/2052<sup>7</sup> |  | 696 | 612 |
| Freddie Mac Pool #QF1464 4.00% 10/1/2052<sup>7</sup> |  | 1691 | 1588 |
| Freddie Mac Pool #QF2379 4.50% 10/1/2052<sup>7</sup> |  | 4994 | 4816 |
| Freddie Mac Pool #QF1254 4.50% 10/1/2052<sup>7</sup> |  | 3226 | 3108 |
| Freddie Mac Pool #QF1849 4.50% 10/1/2052<sup>7</sup> |  | 2140 | 2062 |
| Freddie Mac Pool #QF2136 4.50% 10/1/2052<sup>7</sup> |  | 1908 | 1838 |
| Freddie Mac Pool #QF0819 4.50% 10/1/2052<sup>7</sup> |  | 863 | 833 |
| Freddie Mac Pool #QF2380 4.50% 10/1/2052<sup>7</sup> |  | 632 | 611 |
| Freddie Mac Pool #QF2845 4.50% 10/1/2052<sup>7</sup> |  | 537 | 518 |
| Freddie Mac Pool #QF2182 4.50% 10/1/2052<sup>7</sup> |  | 303 | 292 |
| Freddie Mac Pool #QF0866 4.50% 10/1/2052<sup>7</sup> |  | 126 | 121 |
| Freddie Mac Pool #SD8263 3.00% 11/1/2052<sup>7</sup> |  | 14713 | 12932 |
| Freddie Mac Pool #SD8264 3.50% 11/1/2052<sup>7</sup> |  | 4331 | 3940 |
| Freddie Mac Pool #QF3144 3.50% 11/1/2052<sup>7</sup> |  | 673 | 614 |
| Freddie Mac Pool #SD1896 4.00% 11/1/2052<sup>7</sup> |  | 20313 | 19355 |
| Freddie Mac Pool #SD1894 4.00% 11/1/2052<sup>7</sup> |  | 7177 | 6853 |
| Freddie Mac Pool #QF3364 4.00% 11/1/2052<sup>7</sup> |  | 2753 | 2585 |
| Freddie Mac Pool #QF2936 4.50% 11/1/2052<sup>7</sup> |  | 2907 | 2801 |
| Freddie Mac Pool #QF2846 4.50% 11/1/2052<sup>7</sup> |  | 998 | 961 |
| Freddie Mac Pool #QF3276 5.50% 11/1/2052<sup>7</sup> |  | 703 | 707 |
| Freddie Mac Pool #QF2862 6.50% 11/1/2052<sup>7</sup> |  | 100 | 103 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052<sup>7</sup> |  | 53 | 54 |
| Freddie Mac Pool #QF3956 4.50% 12/1/2052<sup>7</sup> |  | 18992 | 18299 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>7</sup> |  | 2480 | 2390 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052<sup>7</sup> |  | 32354 | 31937 |
| Freddie Mac Pool #QF4754 5.00% 12/1/2052<sup>7</sup> |  | 3000 | 2961 |
| Freddie Mac Pool #QF4185 6.50% 12/1/2052<sup>7</sup> |  | 668 | 685 |
| Freddie Mac Pool #SD8284 3.00% 1/1/2053<sup>7</sup> |  | 4597 | 4040 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>7</sup> |  | 1671 | 1649 |
| Freddie Mac Pool #SD8282 6.50% 1/1/2053<sup>7</sup> |  | 59134 | 60661 |
| Freddie Mac, Series 3061, Class PN, 5.50% 11/15/2035<sup>7</sup> |  | 58 | 58 |
| Freddie Mac, Series 3318, Class JT, 5.50% 5/15/2037<sup>7</sup> |  | 125 | 126 |
| Freddie Mac, Series 3146, Class PO, principal only, 0% 4/15/2036<sup>7</sup> |  | 121 | 100 |
| Freddie Mac, Series 3156, Class PO, principal only, 0% 5/15/2036<sup>7</sup> |  | 118 | 99 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057<sup>7</sup> |  | 8360 | 7937 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058<sup>7</sup> |  | 1930 | 1821 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032<sup>7</sup> |  | 10720 | 10343 |
| Government National Mortgage Assn. 2.00% 1/1/2053<sup>7,9</sup> |  | 14785 | 12394 |
| Government National Mortgage Assn. 3.00% 1/1/2053<sup>7,9</sup> |  | 9533 | 8491 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>7,9</sup> |  | 33185 | 30495 |
| Government National Mortgage Assn. 4.00% 1/1/2053<sup>7,9</sup> |  | 33300 | 31515 |
| Government National Mortgage Assn. 5.00% 1/1/2053<sup>7,9</sup> |  | 75701 | 75023 |
| Government National Mortgage Assn. 5.50% 1/1/2053<sup>7,9</sup> |  | 4775 | 4803 |
| Government National Mortgage Assn. 5.50% 2/1/2053<sup>7,9</sup> |  | 51027 | 51288 |
| Government National Mortgage Assn. Pool #MA5817 4.00% 3/20/2049<sup>7</sup> |  | 12379 | 11844 |
| Government National Mortgage Assn. Pool #MA6042 5.00% 7/20/2049<sup>7</sup> |  | 35 | 35 |
| Government National Mortgage Assn. Pool #MA6221 4.50% 10/20/2049<sup>7</sup> |  | 5200 | 5081 |
| Government National Mortgage Assn. Pool #MA6600 3.50% 4/20/2050<sup>7</sup> |  | 11395 | 10581 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052<sup>7</sup> |  | 10072 | 9541 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052<sup>7</sup> |  | 18573 | 17594 |
| Government National Mortgage Assn. Pool #MA8427 4.50% 11/20/2052<sup>7</sup> |  | 62302 | 60506 |
| Government National Mortgage Assn. Pool #MA8489 4.50% 12/20/2052<sup>7</sup> |  | 485 | 471 |
| Uniform Mortgage-Backed Security 2.50% 1/1/2038<sup>7,9</sup> |  | 7545 | 6905 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2053<sup>7,9</sup> |  | 210537 | 171362 |
| Uniform Mortgage-Backed Security 2.50% 1/1/2053<sup>7,9</sup> |  | 62762 | 53158 |
| Uniform Mortgage-Backed Security 3.00% 1/1/2053<sup>7,9</sup> |  | 11245 | 9871 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2053<sup>7,9</sup> |  | 2735 | 2565 |

---

194 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Uniform Mortgage-Backed Security 4.50% 1/1/2053<sup>7,9</sup> | USD | 5931 | $5709 |
| Uniform Mortgage-Backed Security 5.00% 1/1/2053<sup>7,9</sup> |  | 42025 | 41417 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>7,9</sup> |  | 212640 | 213231 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2053<sup>7,9</sup> |  | 10275 | 10430 |
| Uniform Mortgage-Backed Security 3.50% 2/1/2053<sup>7,9</sup> |  | 10960 | 9965 |
| Uniform Mortgage-Backed Security 4.00% 2/1/2053<sup>7,9</sup> |  | 76136 | 71431 |
| Uniform Mortgage-Backed Security 5.00% 2/1/2053<sup>7,9</sup> |  | 13100 | 12908 |
| Uniform Mortgage-Backed Security 6.00% 2/1/2053<sup>7,9</sup> |  | 112000 | 113591 |
| Uniform Mortgage-Backed Security 6.50% 2/1/2053<sup>7,9</sup> |  | 215026 | 219946 |
|  |  |  | **2374821** |
| **Commercial mortgage-backed securities 1.51%** |  |  |  |
| Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 2/15/2052<sup>7</sup> |  | 770 | 722 |
| Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 4/15/2052<sup>7</sup> |  | 100 | 92 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A5, 3.688% 2/15/2061<sup>7</sup> |  | 205 | 191 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 2/17/2061<sup>7</sup> |  | 127 | 117 |
| Bank Commercial Mortgage Trust, Series 2018-BN12, Class A4, 4.255% 5/15/2061<sup>3,7</sup> |  | 2444 | 2335 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/2061<sup>7</sup> |  | 1018 | 900 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063<sup>7</sup> |  | 295 | 247 |
| Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 1/15/2052<sup>7</sup> |  | 2541 | 2427 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053<sup>3,7</sup> |  | 781 | 757 |
| BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class A, (1-month USD CME Term SOFR + 1.77%) 6.105% 5/15/2039<sup>2,3,7</sup> |  | 8575 | 8420 |
| BPR Trust, Series 2022-OANA, Class A, (1-month USD CME Term SOFR + 1.898%) 6.234% 4/15/2037<sup>2,3,7</sup> |  | 3822 | 3739 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.45% 6/15/2027<sup>2,3,7</sup> |  | 8476 | 8431 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 5.018% 9/15/2036<sup>2,3,7</sup> |  | 14727 | 14207 |
| BX Trust, Series 2021-VOLT, Class B, (1-month USD-LIBOR + 0.95%) 5.268% 9/15/2036<sup>2,3,7</sup> |  | 570 | 539 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 5.217% 10/15/2036<sup>2,3,7</sup> |  | 5292 | 5043 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD-LIBOR + 1.297%) 5.615% 10/15/2036<sup>2,3,7</sup> |  | 995 | 936 |
| BX Trust, Series 2021-ARIA Class C, (1-month USD-LIBOR + 1.646%) 5.964% 10/15/2036<sup>2,3,7</sup> |  | 996 | 931 |
| BX Trust, Series 2021-RISE, Class A, (1-month USD-LIBOR + 0.74%) 5.065% 11/15/2036<sup>2,3,7</sup> |  | 12622 | 12131 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.827% 4/15/2037<sup>2,3,7</sup> |  | 5441 | 5335 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD-LIBOR + 0.67%) 4.988% 6/15/2038<sup>2,3,7</sup> |  | 3741 | 3608 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD-LIBOR + 0.87%) 5.188% 6/15/2038<sup>2,3,7</sup> |  | 433 | 413 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD-LIBOR + 1.10%) 5.418% 6/15/2038<sup>2,3,7</sup> |  | 293 | 278 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD-LIBOR + 1.40%) 5.718% 6/15/2038<sup>2,3,7</sup> |  | 740 | 699 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD-LIBOR + 0.85%) 5.168% 11/15/2038<sup>2,3,7</sup> |  | 9979 | 9616 |
| BX Trust, Series 2021-ACNT, Class B, (1-month USD-LIBOR + 1.25%) 5.568% 11/15/2038<sup>2,3,7</sup> |  | 339 | 325 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD-LIBOR + 1.50%) 5.818% 11/15/2038<sup>2,3,7</sup> |  | 100 | 95 |
| BX Trust, Series 2021-ACNT, Class D, (1-month USD-LIBOR + 1.85%) 6.168% 11/15/2038<sup>2,3,7</sup> |  | 151 | 143 |
| BX Trust, Series 2022-GPA, Class A, (1-month USD CME Term SOFR + 2.165%) 6.501% 10/15/2039<sup>2,3,7</sup> |  | 3198 | 3185 |

---

American Funds Insurance Series 195

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Commercial mortgage-backed securities (continued)** |  |  |  |
| Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/2049<sup>7</sup> | USD | 610 | $574 |
| Commercial Mortgage Trust, Series 2014-LC15, Class AM, 4.198% 4/10/2047<sup>7</sup> |  | 350 | 339 |
| CSAIL Commercial Mortgage Trust, Series 2015-C2, Class A3, 3.231% 6/15/2057<sup>7</sup> |  | 1137 | 1080 |
| Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 5/10/2049<sup>7</sup> |  | 200 | 182 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD-LIBOR + 1.08%) 5.398% 7/15/2038<sup>2,3,7</sup> |  | 2811 | 2735 |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD-LIBOR + 1.38%) 5.698% 7/15/2038<sup>2,3,7</sup> |  | 641 | 618 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD-LIBOR + 1.70%) 6.018% 7/15/2038<sup>2,3,7</sup> |  | 875 | 841 |
| Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD-LIBOR + 2.25%) 6.568% 7/15/2038<sup>2,3,7</sup> |  | 670 | 643 |
| Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class A, 3.144% 12/10/2036<sup>2,7</sup> |  | 304 | 284 |
| Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/2040<sup>2,7</sup> |  | 1897 | 1458 |
| Great Wolf Trust, Series 2019-WOLF, Class A, (1-month USD-LIBOR + 1.034%) 5.352% 12/15/2036<sup>2,3,7</sup> |  | 3894 | 3786 |
| GS Mortgage Securities Trust, Series 2022-SHIP, Class A, (1-month USD CME Term SOFR + 0.731%) 5.067% 8/15/2024<sup>2,3,7</sup> |  | 1317 | 1300 |
| GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 8/10/2050<sup>7</sup> |  | 400 | 369 |
| GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 2/10/2052<sup>7</sup> |  | 100 | 93 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053<sup>7</sup> |  | 1536 | 1271 |
| ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class A, (1-month USD CME Term SOFR + 2.245%) 6.581% 10/15/2039<sup>2,3,7</sup> |  | 3391 | 3398 |
| JPMBB Commercial Mortgage Securities Trust, Series 2014-C18, Class A5, 4.079% 2/15/2047<sup>7</sup> |  | 3280 | 3206 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 3/15/2050<sup>7</sup> |  | 640 | 599 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050<sup>7</sup> |  | 240 | 221 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039<sup>2,7</sup> |  | 7867 | 6739 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 12/15/2049<sup>3,7</sup> |  | 2040 | 1906 |
| La Quinta Mortgage Trust, Series 2022-LAQ, Class A, (1-month USD CME Term SOFR + 1.724%) 6.059% 3/15/2039<sup>2,3,7</sup> |  | 848 | 831 |
| LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A, (1-month USD-LIBOR + 1.05%) 5.368% 10/15/2038<sup>2,3,7</sup> |  | 1576 | 1510 |
| MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD-LIBOR + 0.801%) 5.119% 4/15/2026<sup>2,3,7</sup> |  | 154 | 150 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A5, 3.741% 8/15/2047<sup>7</sup> |  | 5446 | 5277 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 4/15/2048<sup>7</sup> |  | 410 | 389 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 12/15/2049<sup>7</sup> |  | 245 | 230 |
| Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 12/15/2048<sup>7</sup> |  | 730 | 670 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041<sup>2,7</sup> |  | 4065 | 3253 |
| SREIT Trust, Series 2021-FLWR, Class A, (1-month USD-LIBOR + 0.577%) 4.894% 7/15/2036<sup>2,3,7</sup> |  | 9351 | 8989 |
| SREIT Trust, Series 2021-FLWR, Class B, (1-month USD-LIBOR + 0.926%) 5.244% 7/15/2036<sup>2,3,7</sup> |  | 1000 | 954 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD-LIBOR + 0.731%) 5.049% 11/15/2038<sup>2,3,7</sup> |  | 8739 | 8418 |
| SREIT Trust, Series 2021-MFP, Class B, (1-month USD-LIBOR + 1.079%) 5.398% 11/15/2038<sup>2,3,7</sup> |  | 263 | 251 |
| SREIT Trust, Series 2021-MFP, Class C, (1-month USD-LIBOR + 1.329%) 5.647% 11/15/2038<sup>2,3,7</sup> |  | 141 | 134 |

---

196 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Commercial mortgage-backed securities (continued)** |  |  |  |
| Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A-4, 3.789% 9/15/2048<sup>7</sup> | USD | 2373 | $2267 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 12/15/2049<sup>7</sup> |  | 2550 | 2406 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 12/15/2052<sup>7</sup> |  | 1019 | 892 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 1/15/2060<sup>7</sup> |  | 205 | 192 |
|  |  |  | **154317** |
| **Collateralized mortgage-backed obligations (privately originated) 1.07%** |  |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048<sup>2,3,7</sup> |  | 2864 | 2263 |
| Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 3/25/2055<sup>2,7</sup> |  | 131 | 119 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026)<sup>1,2,7</sup> |  | 6000 | 5521 |
| Bellemeade Re, Ltd., Series 2019-3A, Class M1B, (1-month USD-LIBOR + 1.60%) 5.989% 7/25/2029<sup>2,3,7</sup> |  | 414 | 414 |
| BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/2059<sup>2,3,7</sup> |  | 923 | 830 |
| BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/2059<sup>2,3,7</sup> |  | 586 | 556 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061<sup>2,7</sup> |  | 4867 | 4221 |
| Cascade Funding Mortgage Trust, Series 2020-HB4, Class A, 0.946% 12/26/2030<sup>2,3,7</sup> |  | 425 | 413 |
| Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/2031<sup>2,3,7</sup> |  | 3032 | 2858 |
| Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 6/25/2036<sup>2,3,7</sup> |  | 1700 | 1616 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061<sup>2,3,7</sup> |  | 6893 | 6513 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060<sup>2,3,7</sup> |  | 204 | 186 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066<sup>2,3,7</sup> |  | 1660 | 1406 |
| Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) 6.678% 5/25/2042<sup>2,3,7</sup> |  | 326 | 330 |
| Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 8/15/2037<sup>2,7</sup> |  | 1575 | 1409 |
| Credit Suisse Mortgage Trust, Series 2017-RPL3, Class A1, 2.00% 1/25/2060<sup>2,3,7</sup> |  | 1611 | 1384 |
| Finance of America Structured Securities Trust, Series 2019-JR1, Class A, 2.00% 3/25/2069<sup>2,7</sup> |  | 2051 | 2196 |
| Finance of America Structured Securities Trust, Series 2019-JR2, Class A1, 2.00% 6/25/2069<sup>2,7</sup> |  | 2604 | 2677 |
| Flagstar Mortgage Trust, Series 2021-5INV, Class A2, 2.50% 7/25/2051<sup>2,3,7</sup> |  | 2073 | 1674 |
| Flagstar Mortgage Trust, Series 2021-6INV, Class A4, 2.50% 8/25/2051<sup>2,3,7</sup> |  | 1937 | 1562 |
| Flagstar Mortgage Trust, Series 2021-8INV, Class A3, 2.50% 9/25/2051<sup>2,3,7</sup> |  | 2038 | 1646 |
| Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 10/25/2051<sup>2,3,7</sup> |  | 3206 | 2589 |
| Flagstar Mortgage Trust, Series 2021-11INV, Class A4, 2.50% 11/25/2051<sup>2,3,7</sup> |  | 2222 | 1794 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class M3, (1-month USD-LIBOR + 4.70%) 9.089% 4/25/2028<sup>3,7</sup> |  | 1497 | 1548 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1A, (30-day Average USD-SOFR + 2.00%) 5.928% 4/25/2042<sup>2,3,7</sup> |  | 1537 | 1531 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1A, (30-day Average USD-SOFR + 2.20%) 6.128% 5/25/2042<sup>2,3,7</sup> |  | 73 | 73 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average USD-SOFR + 2.95%) 6.878% 6/25/2042<sup>2,3,7</sup> |  | 278 | 281 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average USD-SOFR + 2.15%) 6.078% 9/25/2042<sup>2,3,7</sup> |  | 611 | 612 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average USD-SOFR + 3.70%) 7.628% 9/25/2042<sup>2,3,7</sup> |  | 1519 | 1552 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class M2, (1-month USD-LIBOR + 1.85%) 6.239% 2/25/2050<sup>2,3,7</sup> |  | 3005 | 3000 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B1, (1-month USD-LIBOR + 6.00%) 10.389% 8/25/2050<sup>2,3,7</sup> |  | 949 | 1011 |
| GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/2066<sup>2,3,7</sup> |  | 3494 | 2935 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026<sup>2,7</sup> |  | 5380 | 4654 |
| Hundred Acre Wood Trust, Series 2021-INV1, Class A3, 2.50% 7/25/2051<sup>2,3,7</sup> |  | 882 | 712 |
| Legacy Mortgage Asset Trust, Series 2022-GS1, Class A1, 4.00% 2/25/2061 (7.00% on 4/25/2025)<sup>1,2,7</sup> |  | 3534 | 3273 |

---

American Funds Insurance Series 197

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |  |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 4/25/2061<sup>2,3,7</sup> | USD | 858 | $780 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (5.25% on 11/25/2024)<sup>1,2,7</sup> |  | 2644 | 2380 |
| Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 5.239% 11/25/2055<sup>2,3,7</sup> |  | 16160 | 15635 |
| MFRA Trust, Series 2021-RPL1, Class A1, 1.131% 7/25/2060<sup>2,3,7</sup> |  | 3088 | 2720 |
| PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/2056<sup>2,3,7</sup> |  | 3558 | 2965 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039<sup>2,7</sup> |  | 1132 | 1028 |
| Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/2031<sup>2,3,7</sup> |  | 3346 | 3155 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060<sup>2,7</sup> |  | 10737 | 9539 |
| Treehouse Park Improvement Association No.1 - Anleihen 9.75% 12/1/2033<sup>2,10</sup> |  | 1680 | 1486 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038<sup>2,7</sup> |  | 5033 | 4381 |
|  |  |  | **109428** |
| **Total mortgage-backed obligations** |  |  | **2638566** |
| **Asset-backed obligations 4.52%** |  |  |  |
| Affirm Asset Securitization Trust, Series 2021-B, Class A, 1.03% 8/17/2026<sup>2,7</sup> |  | 701 | 665 |
| Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/2026<sup>2,7</sup> |  | 672 | 643 |
| Affirm Asset Securitization Trust, Series 2022-X1, Class A, 1.75% 2/15/2027<sup>2,7</sup> |  | 765 | 744 |
| AGL CLO, Ltd., Series 2022-18A, Class A1, (3-month USD CME Term SOFR + 1.32%) 5.308% 4/21/2031<sup>2,3,7</sup> |  | —<sup>8</sup> | —<sup>8</sup> |
| American Credit Acceptance Receivables Trust, Series 2020-3, Class C, 1.85% 6/15/2026<sup>2,7</sup> |  | 1178 | 1169 |
| American Credit Acceptance Receivables Trust, Series 2020-3, Class D, 2.40% 6/15/2026<sup>2,7</sup> |  | 2500 | 2429 |
| American Credit Acceptance Receivables Trust, Series 2022-3, Class B, 4.55% 10/13/2026<sup>2,7</sup> |  | 360 | 353 |
| American Credit Acceptance Receivables Trust, Series 2021-1, Class C, 0.83% 3/15/2027<sup>2,7</sup> |  | 1055 | 1038 |
| American Credit Acceptance Receivables Trust, Series 2021-1, Class D, 1.14% 3/15/2027<sup>2,7</sup> |  | 806 | 760 |
| American Homes 4 Rent, Series 2014-SFR2, Class A, 3.786% 10/17/2036<sup>2,7</sup> |  | 1136 | 1097 |
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052<sup>2,7</sup> |  | 2781 | 2631 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052<sup>2,7</sup> |  | 396 | 376 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class B, 0.69% 1/19/2027<sup>7</sup> |  | 997 | 935 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class C, 1.01% 1/19/2027<sup>7</sup> |  | 1109 | 1009 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D, 1.29% 6/18/2027<sup>7</sup> |  | 2613 | 2319 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2018-2A, Class A, 4.00% 3/20/2025<sup>2,7</sup> |  | 2755 | 2710 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2019-2A, Class A, 3.35% 9/22/2025<sup>2,7</sup> |  | 2210 | 2137 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class A, 2.33% 8/20/2026<sup>2,7</sup> |  | 7689 | 7124 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027<sup>2,7</sup> |  | 2427 | 2203 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027<sup>2,7</sup> |  | 623 | 560 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class C, 4.25% 2/20/2027<sup>2,7</sup> |  | 1279 | 1144 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027<sup>2,7</sup> |  | 3445 | 3005 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/2027<sup>2,7</sup> |  | 531 | 449 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/2027<sup>2,7</sup> |  | 193 | 161 |
| Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD-LIBOR + 1.00%) 5.675% 11/20/2030<sup>2,3,7</sup> |  | 575 | 568 |

---

198 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 10/17/2034<sup>2,7</sup> | USD | 180 | $170 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class B, 1.67% 10/17/2034<sup>2,7</sup> |  | 269 | 227 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, 2.443% 7/15/2046<sup>2,7</sup> |  | 3951 | 3250 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% 7/15/2046<sup>2,7</sup> |  | 497 | 375 |
| CarMax Auto Owner Trust, Series 2019-2, Class C, 3.16% 2/18/2025<sup>7</sup> |  | 400 | 396 |
| CarMax Auto Owner Trust, Series 2021-1, Class C, 0.94% 12/15/2026<sup>7</sup> |  | 210 | 190 |
| CarMax Auto Owner Trust, Series 2021-1, Class D, 1.28% 7/15/2027<sup>7</sup> |  | 206 | 184 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/2028<sup>7</sup> |  | 538 | 514 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037<sup>2,7</sup> |  | 15953 | 13578 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 3.464% 5/11/2037<sup>2,7</sup> |  | 6185 | 5238 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 6.171% 5/11/2037<sup>2,7</sup> |  | 671 | 544 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041<sup>2,7</sup> |  | 802 | 702 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060<sup>2,7</sup> |  | 18679 | 16693 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060<sup>2,7</sup> |  | 1950 | 1613 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060<sup>2,7</sup> |  | 3395 | 2969 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060<sup>2,7</sup> |  | 368 | 291 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061<sup>2,7</sup> |  | 6053 | 5242 |
| CF Hippolyta, LLC, Series 2021-1, Class B1, 1.98% 3/15/2061<sup>2,7</sup> |  | 1917 | 1602 |
| CF Hippolyta, LLC, Series 2022-1, Class A1, 5.97% 8/15/2062<sup>2,7</sup> |  | 15132 | 14821 |
| CF Hippolyta, LLC, Series 2022-1, Class A2, 6.11% 8/15/2062<sup>2,7</sup> |  | 6637 | 6257 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045<sup>2,7</sup> |  | 2298 | 1978 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045<sup>2,7</sup> |  | 4800 | 4174 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046<sup>2,7</sup> |  | 436 | 363 |
| CPS Auto Receivables Trust, Series 2019-B, Class D, 3.69% 3/17/2025<sup>2,7</sup> |  | 249 | 248 |
| CPS Auto Receivables Trust, Series 2019-C, Class D, 3.17% 6/16/2025<sup>2,7</sup> |  | 405 | 404 |
| CPS Auto Receivables Trust, Series 2022-B, Class A, 2.88% 6/15/2026<sup>2,7</sup> |  | 1883 | 1849 |
| CPS Auto Receivables Trust, Series 2021-A, Class C, 0.83% 9/15/2026<sup>2,7</sup> |  | 514 | 507 |
| CPS Auto Receivables Trust, Series 2021-A, Class D, 1.16% 12/15/2026<sup>2,7</sup> |  | 590 | 559 |
| CPS Auto Receivables Trust, Series 2022-B, Class B, 3.88% 8/15/2028<sup>2,7</sup> |  | 2111 | 2033 |
| CPS Auto Receivables Trust, Series 2022-B, Class C, 4.33% 8/15/2028<sup>2,7</sup> |  | 2797 | 2658 |
| Drive Auto Receivables Trust, Series 2021-1, Class B, 0.65% 7/15/2025<sup>7</sup> |  | 86 | 86 |
| Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18% 10/15/2026<sup>7</sup> |  | 3890 | 3844 |
| Drive Auto Receivables Trust, Series 2021-1, Class C, 1.02% 6/15/2027<sup>7</sup> |  | 5369 | 5249 |
| Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45% 1/16/2029<sup>7</sup> |  | 4053 | 3800 |
| DriveTime Auto Owner Trust, Series 2019-2A, Class D, 3.48% 2/18/2025<sup>2,7</sup> |  | 2320 | 2309 |
| DriveTime Auto Owner Trust, Series 2019-3, Class D, 2.96% 4/15/2025<sup>2,7</sup> |  | 1473 | 1454 |
| DriveTime Auto Owner Trust, Series 2020-3A, Class C, 1.47% 6/15/2026<sup>2,7</sup> |  | 817 | 791 |
| DriveTime Auto Owner Trust, Series 2021-1A, Class C, 0.84% 10/15/2026<sup>2,7</sup> |  | 825 | 792 |
| DriveTime Auto Owner Trust, Series 2021-1A, Class D, 1.16% 11/16/2026<sup>2,7</sup> |  | 449 | 414 |
| DriveTime Auto Owner Trust, Series 2021-2A, Class B, 0.81% 1/15/2027<sup>2,7</sup> |  | 1179 | 1156 |
| DriveTime Auto Owner Trust, Series 2021-2A, Class C, 1.10% 2/16/2027<sup>2,7</sup> |  | 1231 | 1170 |
| DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/2027<sup>2,7</sup> |  | 832 | 764 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045<sup>2,7</sup> |  | 428 | 362 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A3, 4.29% 7/20/2029<sup>2,7</sup> |  | 897 | 851 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029<sup>2,7</sup> |  | 1380 | 1350 |
| Exeter Automobile Receivables Trust, Series 2019-2A, Class D, 3.71% 3/17/2025<sup>2,7</sup> |  | 3251 | 3218 |
| Exeter Automobile Receivables Trust, Series 2020-3A, Class C, 1.32% 7/15/2025<sup>7</sup> |  | 401 | 397 |
| Exeter Automobile Receivables Trust, Series 2019-3A, Class D, 3.11% 8/15/2025<sup>2,7</sup> |  | 3405 | 3352 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class B, 0.57% 9/15/2025<sup>7</sup> |  | 721 | 716 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class A3, 2.80% 11/17/2025<sup>7</sup> |  | 1162 | 1150 |
| Exeter Automobile Receivables Trust, Series 2022-6, Class A2, 5.73% 11/17/2025<sup>7</sup> |  | 587 | 588 |
| Exeter Automobile Receivables Trust, Series 2020-1A, Class D, 2.73% 12/15/2025<sup>2,7</sup> |  | 893 | 875 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class C, 0.98% 6/15/2026<sup>7</sup> |  | 1807 | 1737 |
| Exeter Automobile Receivables Trust, Series 2020-3A, Class D, 1.73% 7/15/2026<sup>7</sup> |  | 1012 | 975 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class B, 3.65% 10/15/2026<sup>7</sup> |  | 3047 | 2976 |
| Exeter Automobile Receivables Trust, Series 2022-4A, Class B, 4.57% 1/15/2027<sup>7</sup> |  | 568 | 558 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class D, 1.40% 4/15/2027<sup>7</sup> |  | 2612 | 2388 |

---

American Funds Insurance Series 199

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028<sup>7</sup> | USD | 1201 | $1127 |
| FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/2037<sup>2,7</sup> |  | 17959 | 15928 |
| FirstKey Homes Trust, Series 2021-SFR3, Class A, 2.135% 12/17/2038<sup>2,7</sup> |  | 1380 | 1195 |
| FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.145% 5/17/2039<sup>2,7</sup> |  | 1733 | 1628 |
| Ford Credit Auto Owner Trust, Series 2018-2, Class A, 3.47% 1/15/2030<sup>2,7</sup> |  | 17675 | 17438 |
| Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19% 7/15/2031<sup>2,7</sup> |  | 30070 | 28744 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045<sup>2,7</sup> |  | 2069 | 1827 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046<sup>2,7</sup> |  | 1421 | 1210 |
| GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/2046<sup>2,7</sup> |  | 158 | 134 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040<sup>2,7</sup> |  | 2868 | 2550 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041<sup>2,7</sup> |  | 9797 | 8450 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041<sup>2,7</sup> |  | 2739 | 2378 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041<sup>2,7</sup> |  | 214 | 181 |
| GM Financial Automobile Leasing Trust, Series 2020-2, Class C, 2.56% 7/22/2024<sup>7</sup> |  | 301 | 300 |
| GM Financial Automobile Leasing Trust, Series 2020-2, Class D, 3.21% 12/20/2024<sup>7</sup> |  | 425 | 424 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035<sup>2,7</sup> |  | 2703 | 2756 |
| Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 3.65% 6/30/2023<sup>2,7,10</sup> |  | 8590 | 8241 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 12/26/2025<sup>2,7</sup> |  | 12703 | 11748 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 12/26/2025<sup>2,7</sup> |  | 1171 | 1074 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class C, 2.05% 12/26/2025<sup>2,7</sup> |  | 810 | 731 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027<sup>2,7</sup> |  | 17770 | 15498 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027<sup>2,7</sup> |  | 1264 | 1085 |
| Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027<sup>2,7</sup> |  | 859 | 710 |
| LAD Auto Receivables Trust, Series 2021-1A, Class A, 1.30% 8/17/2026<sup>2,7</sup> |  | 866 | 842 |
| LAD Auto Receivables Trust, Series 2021-1A, Class B, 1.94% 11/16/2026<sup>2,7</sup> |  | 304 | 285 |
| LAD Auto Receivables Trust, Series 2022-1, Class A, 5.21% 6/15/2027<sup>2,7</sup> |  | 1207 | 1188 |
| LAD Auto Receivables Trust, Series 2022-1, Class B, 5.87% 9/15/2027<sup>2,7</sup> |  | 438 | 426 |
| LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/2030<sup>2,7</sup> |  | 623 | 596 |
| Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2, (3-month USD-LIBOR + 1.00%) 5.278% 7/21/2030<sup>2,3,7</sup> |  | 892 | 878 |
| Marathon CLO, Ltd., Series 2017-9A, Class A1AR, (3-month USD-LIBOR + 1.15%) 5.229% 4/15/2029<sup>2,3,7</sup> |  | 574 | 568 |
| Mission Lane Credit Card Master Trust, Series 2021-A, Class A, 1.59% 9/15/2026<sup>2,7</sup> |  | 1242 | 1203 |
| Mission Lane Credit Card Master Trust, Series 2021-A, Class B, 2.24% 9/15/2026<sup>2,7</sup> |  | 230 | 223 |
| Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/2028<sup>7,10,11</sup> |  | 1006 | 1006 |
| Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/2028<sup>7,10,11</sup> |  | 150 | 150 |
| Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 10/15/2069<sup>2,7</sup> |  | 4052 | 3449 |
| Navient Student Loan Trust, Series 2021-EA, Class A, 0.97% 12/16/2069<sup>2,7</sup> |  | 2516 | 2110 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070<sup>2,7</sup> |  | 895 | 759 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046<sup>2,7</sup> |  | 4396 | 3702 |
| Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 4/20/2062<sup>2,7</sup> |  | 314 | 279 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062<sup>2,7</sup> |  | 5377 | 4762 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062<sup>2,7</sup> |  | 12315 | 10951 |
| Nelnet Student Loan Trust, Series 2021-C, Class AFL, (1-month USD-LIBOR + 0.74%) 5.093% 4/20/2062<sup>2,3,7</sup> |  | 4035 | 3918 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061<sup>2,7</sup> |  | 50765 | 42988 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD-LIBOR + 0.97%) 5.328% 7/25/2030<sup>2,3,7</sup> |  | 273 | 270 |
| Oportun Funding, LLC, Series 2021-A, Class A, 1.21% 3/8/2028<sup>2,7</sup> |  | 240 | 224 |
| Palmer Square Loan Funding, CLO, Series 2021-1, Class A1, (3-month USD-LIBOR + 0.90%) 5.143% 4/20/2029<sup>2,3,7</sup> |  | 256 | 253 |
| PFS Financing Corp., Series 2021-B, Class A, 0.775% 8/17/2026<sup>2,7</sup> |  | 7884 | 7276 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027<sup>2,7</sup> |  | 1721 | 1681 |
| Prestige Auto Receivables Trust, Series 2019-1A, Class C, 2.70% 10/15/2024<sup>2,7</sup> |  | 804 | 802 |
| Prestige Auto Receivables Trust, Series 2019-1A, Class D, 3.01% 8/15/2025<sup>2,7</sup> |  | 1355 | 1341 |
| Prodigy Finance DAC, Series 2021-1A, Class A, (1-month USD-LIBOR + 1.25%) 5.639% 7/25/2051<sup>2,3,7</sup> |  | 577 | 558 |

---

200 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Asset-backed obligations (continued)** |  |  |  |
| Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22% 7/15/2025<sup>7</sup> | USD | 1584 | $1574 |
| Santander Drive Auto Receivables Trust, Series 2021-2, Class B, 0.59% 9/15/2025<sup>7</sup> |  | 523 | 521 |
| Santander Drive Auto Receivables Trust, Series 2020-3, Class C, 1.12% 1/15/2026<sup>7</sup> |  | 1480 | 1467 |
| Santander Drive Auto Receivables Trust, Series 2021-2, Class C, 0.90% 6/15/2026<sup>7</sup> |  | 2812 | 2736 |
| Santander Drive Auto Receivables Trust, Series 2020-3, Class D, 1.64% 11/16/2026<sup>7</sup> |  | 2211 | 2120 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class B, 4.43% 3/15/2027<sup>7</sup> |  | 917 | 892 |
| Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35% 7/15/2027<sup>7</sup> |  | 1802 | 1686 |
| Santander Drive Auto Receivables Trust, Series 2021-3, Class C, 0.95% 9/15/2027<sup>7</sup> |  | 1677 | 1613 |
| Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 9/15/2027<sup>7</sup> |  | 2236 | 2073 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/15/2028<sup>7</sup> |  | 856 | 828 |
| SLAM, Ltd., Series 2021-1, Class A, 2.434% 6/15/2046<sup>2,7</sup> |  | 2641 | 2190 |
| SLAM, Ltd., Series 2021-1, Class B, 3.422% 6/15/2046<sup>2,7</sup> |  | 487 | 397 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046<sup>2,7</sup> |  | 2392 | 1923 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046<sup>2,7</sup> |  | 3233 | 2805 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041<sup>2,7</sup> |  | 451 | 381 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033<sup>2,7</sup> |  | 1243 | 1108 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033<sup>2,7</sup> |  | 1441 | 1245 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075<sup>2,7</sup> |  | 2300 | 2092 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045<sup>2,7</sup> |  | 2971 | 2610 |
| Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 8/21/2045<sup>2,7</sup> |  | 1252 | 1135 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045<sup>2,7</sup> |  | 2223 | 1939 |
| Textainer Marine Containers, Ltd., Series 2021-1A, Class A, 1.68% 2/20/2046<sup>2,7</sup> |  | 6190 | 5211 |
| Textainer Marine Containers, Ltd., Series 2021-1A, Class B, 2.52% 2/20/2046<sup>2,7</sup> |  | 346 | 288 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046<sup>2,7</sup> |  | 5200 | 4431 |
| TIF Funding II, LLC, Series 2020-1A, Class A, 2.09% 8/20/2045<sup>2,7</sup> |  | 4358 | 3747 |
| TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/2046<sup>2,7</sup> |  | 130 | 107 |
| Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 11/25/2031<sup>2,7</sup> |  | 6000 | 5785 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045<sup>2,7</sup> |  | 10418 | 8932 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046<sup>2,7</sup> |  | 3563 | 2978 |
| Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/2046<sup>2,7</sup> |  | 346 | 285 |
| Westlake Automobile Receivables Trust, Series 2020-3A, Class C, 1.24% 11/17/2025<sup>2,7</sup> |  | 1557 | 1518 |
| Westlake Automobile Receivables Trust, Series 2020-3A, Class D, 1.65% 2/17/2026<sup>2,7</sup> |  | 3023 | 2866 |
| Westlake Automobile Receivables Trust, Series 2021-2, Class B, 0.62% 7/15/2026<sup>2,7</sup> |  | 1690 | 1632 |
| Westlake Automobile Receivables Trust, Series 2021-2, Class C, 0.89% 7/15/2026<sup>2,7</sup> |  | 2181 | 2050 |
| Westlake Automobile Receivables Trust, Series 2021-2, Class D, 1.23% 12/15/2026<sup>2,7</sup> |  | 1446 | 1318 |
|  |  |  | **461708** |
| **Municipals 1.62%** |  |  |  |
|  **California 0.03%** |  |  |  |
| G.O. Bonds, Series 2009, 7.50% 4/1/2034 |  | 2100 | 2541 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 6/1/2034 |  | 650 | 523 |
|  |  |  | **3064** |
| **Illinois 1.47%** |  |  |  |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-C, 6.319% 11/1/2029 |  | 65 | 61 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 12/1/2039 |  | 30835 | 26399 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-D, 6.519% 12/1/2040 |  | 8945 | 7689 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Qualified School Construction Bonds), Series 2009-G, 1.75% 12/15/2025 |  | 2500 | 2155 |
| G.O. Bonds, Series 2013-B, 4.31% 4/1/2023 |  | 2125 | 2122 |
| G.O. Bonds, Pension Funding, Series 2003, 4.95% 6/1/2023 |  | 6228 | 6231 |
| G.O. Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033 |  | 107000 | 102807 |
| G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 5.95% 3/1/2023 |  | 3210 | 3215 |
|  |  |  | **150679** |

---

American Funds Insurance Series 201

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| **New York 0.05%** |  |  |  |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 2.202% 3/15/2034 | **USD** | **6390** | $**4881** |
| **Texas 0.03%** |  |  |  |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 10/1/2052 |  | **4075** | **2899** |
| **Wisconsin 0.04%** |  |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034 |  | **4580** | **4071** |
| **Total municipals** |  |  | **165594** |
| **Bonds & notes of governments & government agencies outside the U.S. 1.29%** |  |  |  |
| Chile (Republic of) 3.50% 1/31/2034 |  | 600 | 513 |
| Chile (Republic of) 3.10% 5/7/2041 |  | 2340 | 1689 |
| Chile (Republic of) 4.34% 3/7/2042 |  | 1320 | 1120 |
| Chile (Republic of) 4.00% 1/31/2052 |  | 580 | 450 |
| Colombia (Republic of) 4.125% 5/15/2051 |  | 3120 | 1878 |
| Colombia (Republic of), Series B, 5.75% 11/3/2027 | COP | 24813800 | 3883 |
| Dominican Republic 5.95% 1/25/2027<sup>2</sup> | USD | 8100 | 7954 |
| Indonesia (Republic of) 4.65% 9/20/2032 |  | 2690 | 2638 |
| Indonesia (Republic of) 3.35% 3/12/2071 |  | 1660 | 1109 |
| Indonesia (Republic of), Series 91, 6.375% 4/15/2032 | IDR | 31265000 | 1936 |
| Israel (State of) 1.00% 3/31/2030 | ILS | 11800 | 2799 |
| Israel (State of) 3.375% 1/15/2050 | USD | 4750 | 3670 |
| Israel (State of) 3.875% 7/3/2050 |  | 4775 | 4036 |
| Malaysia (Federation of), Series 0219, 3.885% 8/15/2029 | MYR | 5290 | 1193 |
| Panama (Republic of) 3.362% 6/30/2031 | USD | 15625 | 12695 |
| Panama (Republic of) 3.87% 7/23/2060 |  | 7500 | 4863 |
| Panama (Republic of) 4.50% 1/19/2063 |  | 395 | 280 |
| Paraguay (Republic of) 5.00% 4/15/2026 |  | 1250 | 1248 |
| Peru (Republic of) 6.35% 8/12/2028 | PEN | 5840 | 1463 |
| Peru (Republic of) 5.94% 2/12/2029 |  | 6005 | 1450 |
| Peru (Republic of) 2.783% 1/23/2031 | USD | 2155 | 1788 |
| Peru (Republic of) 6.15% 8/12/2032 | PEN | 12950 | 2998 |
| Peru (Republic of) 3.60% 1/15/2072 | USD | 7640 | 4999 |
| Philippines (Republic of) 3.229% 3/29/2027 |  | 475 | 457 |
| Philippines (Republic of) 3.20% 7/6/2046 |  | 4900 | 3598 |
| Philippines (Republic of) 4.20% 3/29/2047 |  | 272 | 234 |
| Poland (Republic of) 5.75% 11/16/2032 |  | 555 | 593 |
| Portuguese Republic 5.125% 10/15/2024 |  | 24775 | 24868 |
| PT Indonesia Asahan Aluminium Tbk 5.71% 11/15/2023<sup>2</sup> |  | 1020 | 1023 |
| PT Indonesia Asahan Aluminium Tbk 4.75% 5/15/2025<sup>2</sup> |  | 1270 | 1251 |
| PT Indonesia Asahan Aluminium Tbk 5.45% 5/15/2030<sup>2</sup> |  | 340 | 324 |
| PT Indonesia Asahan Aluminium Tbk 5.80% 5/15/2050<sup>2</sup> |  | 1150 | 966 |
| Qatar (State of) 4.50% 4/23/2028<sup>2</sup> |  | 5100 | 5141 |
| Qatar (State of) 5.103% 4/23/2048<sup>2</sup> |  | 3400 | 3425 |
| Romania 3.75% 2/7/2034 | EUR | 5625 | 4515 |
| Saudi Arabia (Kingdom of) 3.628% 4/20/2027<sup>2</sup> | USD | 5000 | 4846 |
| Saudi Arabia (Kingdom of) 3.625% 3/4/2028<sup>2</sup> |  | 11435 | 10939 |
| United Mexican States 4.875% 5/19/2033 |  | 2175 | 2001 |
| United Mexican States 3.50% 2/12/2034 |  | 1030 | 827 |
| United Mexican States 4.40% 2/12/2052 |  | 440 | 325 |
|  |  |  | **131985** |

---

202 American Funds Insurance Series

The Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Federal agency bonds & notes 0.11%** |  |  |  |
| Fannie Mae 2.125% 4/24/2026 | **USD** | **11910** | $**11160** |
| **Total bonds, notes & other debt instruments** (cost: $10,540,248,000) |  |  | **9747773** |
| **Short-term securities 13.95%** |  | Shares |  |
| **Money market investments 13.95%** |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>12,13</sup> |  | **14258627** | **1425720** |
| **Total short-term securities** (cost: $1,425,522,000) |  |  | **1425720** |
| **Total investment securities 109.32%** (cost: $11,965,770,000) |  |  | **11173493** |
| Other assets less liabilities (9.32)% |  |  | (952411) |
| **Net assets 100.00%** |  |  | $**10221082** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> appreciation<br> (depreciation)<br>at 12/31/2022<br>(000)** |
| 3 Month SOFR Futures | Short | 658 | June 2023 | USD(156415) | $2698 |
| 2 Year U.S. Treasury Note Futures | Short | 2055 | March 2023 | (421436) | 1029 |
| 5 Year Euro-Bobl Futures | Long | 1 | March 2023 | 124 | (4) |
| 5 Year U.S. Treasury Note Futures | Long | 16226 | March 2023 | 1751267 | (2467) |
| 10 Year U.S. Treasury Note Futures | Long | 2294 | March 2023 | 257609 | (1391) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 1388 | March 2023 | (164174) | 2514 |
| 20 Year U.S. Treasury Bond Futures | Long | 999 | March 2023 | 125218 | (2035) |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 1708 | March 2023 | 229406 | (7297) |
|  |  |  |  |  | $(6953) |

---

**Forward currency contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation<br> (depreciation)**<br>**at 12/31/2022<br> (000)** |
| USD | 1965 | IDR | 30407000 | Citibank | 1/9/2023 | $11 |
| USD | 3158 | ILS | 10725 | HSBC Bank | 1/11/2023 | 106 |
| USD | 1173 | MYR | 5150 | HSBC Bank | 1/11/2023 | (4) |
| USD | 1248 | EUR | 1180 | Morgan Stanley | 1/11/2023 | (16) |
| USD | 4761 | COP | 22893650 | Citibank | 1/13/2023 | 52 |
| USD | 5947 | EUR | 5628 | JPMorgan Chase | 1/13/2023 | (84) |
| USD | 613 | EUR | 582 | JPMorgan Chase | 1/20/2023 | (11) |
| USD | 5952 | PEN | 22885 | Citibank | 1/23/2023 | (59) |
| JPY | 3460300 | USD | 24759 | Morgan Stanley | 2/17/2023 | 1783 |
| JPY | 3432900 | USD | 25173 | Morgan Stanley | 2/17/2023 | 1158 |
| JPY | 3448400 | USD | 25841 | Morgan Stanley | 3/17/2023 | 711 |
|  |  |  |  |  |  | $3647 |

---

American Funds Insurance Series 203

The Bond Fund of America (continued)

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | | | | |
| **Rate** | **Payment frequency** | **Rate** | **Payment frequency** | <br>**Expiration date** | **Notional**<br>**amount<br> (000)** | **Value at**<br>**12/31/2022<br> (000)** | **Upfront<br> premium**<br>**paid (000)** | **Unrealized<br> appreciation<br> (depreciation)**<br>**at 12/31/2022<br> (000)** |
| SOFR | Annual | 0.471% | Annual | 10/26/2023 | USD87,775 | $3103 | $— | $3103 |
| 0.45801% | Annual | SOFR | Annual | 10/26/2023 | 85775 | (3041) |  | (3041) |
| 3.497% | Annual | U.S. EFFR | Annual | 6/16/2024 | 27000 | (479) |  | (479) |
| 3.52647% | Annual | U.S. EFFR | Annual | 6/16/2024 | 72532 | (1257) |  | (1257) |
| 3.5291% | Annual | U.S. EFFR | Annual | 6/16/2024 | 78378 | (1355) |  | (1355) |
| 3.4585% | Annual | U.S. EFFR | Annual | 6/17/2024 | 4154 | (76) |  | (76) |
| 3.4325% | Annual | U.S. EFFR | Annual | 6/17/2024 | 19800 | (369) |  | (369) |
| 4.5645% | Annual | U.S. EFFR | Annual | 10/19/2024 | 19200 | (5) |  | (5) |
| 4.533% | Annual | U.S. EFFR | Annual | 10/20/2024 | 23900 | (20) |  | (20) |
| 4.56% | Annual | U.S. EFFR | Annual | 10/27/2024 | 24000 | (4) |  | (4) |
| 4.5245% | Annual | U.S. EFFR | Annual | 10/27/2024 | 28800 | (23) |  | (23) |
| 3-month USD-LIBOR | Quarterly | 1.972% | Semi-annual | 4/26/2051 | 23200 | 6475 |  | 6475 |
| 3-month USD-LIBOR | Quarterly | 1.9855% | Semi-annual | 4/26/2051 | 8580 | 2374 |  | 2374 |
| 3-month USD-LIBOR | Quarterly | 1.9778% | Semi-annual | 4/28/2051 | 13500 | 3753 |  | 3753 |
|  |  |  |  |  |  | $9076 | $— | $9076 |

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> index** | **Financing<br> rate paid** | **Payment<br> frequency** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Value at 12/31/2022 (000)** | **Upfront<br> premium<br> (received)<br> paid<br> (000)** | **Unrealized<br> depreciation<br> at 12/31/2022<br> (000)** |
| CDX.NA.IG.39 | 1.00% | Quarterly | 12/20/2027 | USD74,676 | $(597) | $(310) | $(287) |
| CDX.NA.HY.39 | 5.00% | Quarterly | 12/20/2027 | 153455 | (945) | 5777 | (6722) |
|  |  |  |  |  | $(1542) | $5467 | $(7009) |

---

**Investments in affiliates<sup>13</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliate at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> appreciation<br> (000)** | **Value of<br> affiliate at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 13.95%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 13.95%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>12</sup> | $1311257 | $4011285 | $3896680 | $(218) | $76 | $1425720 | $34880 |

---

204 American Funds Insurance Series

The Bond Fund of America (continued)

**Restricted securities<sup>11</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Acquisition<br> date | Cost<br> (000) | Value<br> (000) | Percent<br> of net<br> assets |
| Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/2028<sup>7,10</sup> | 12/6/2022 | $1006 | $1006 | .01% |
| Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/2028<sup>7,10</sup> | 12/6/2022 | 150 | 150 | .00 |
| **Total** |  | $1156 | $1156 | .01% |

---

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,530,868,000, which represented 14.98% of the net assets of the fund.

<sup>3</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>4</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.

<sup>5</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $58,239,000, which represented .57% of the net assets of the fund.

<sup>6</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>7</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>8</sup> Amount less than one thousand.

<sup>9</sup> Purchased on a TBA basis.

<sup>10</sup> Value determined using significant unobservable inputs.

<sup>11</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $1,156,000, which represented .01% of the net assets of the fund.

<sup>12</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>13</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviations**

Assn. = Association

Auth. = Authority

CLO = Collateralized Loan Obligations

CME = CME Group

CMO = Collateralized Mortgage Obligations

COP = Colombian pesos

DAC = Designated Activity Company

EFFR = Effective Federal Funds Rate

EUR = Euros

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

ICE = Intercontinental Exchange, Inc.

IDR = Indonesian rupiah

ILS = Israeli shekels

JPY = Japanese yen

LIBOR = London Interbank Offered Rate

MYR = Malaysian ringgits

PEN = Peruvian nuevos soles

PIK = Payment In Kind

Ref. = Refunding

Rev. = Revenue

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Insurance Series 205

Capital World Bond Fund

**Investment portfolio** December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 90.28%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Euros 19.79%** |  |  |  |
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Annual Swap + 1.10% on 9/9/2028)<sup>1</sup> | EUR | 2800 | $2333 |
| Allianz SE 4.75% perpetual bonds (3-month EUR-EURIBOR + 3.60% on 10/24/2023)<sup>1</sup> |  | 4200 | 4471 |
| Altria Group, Inc. 1.00% 2/15/2023 |  | 1020 | 1089 |
| Altria Group, Inc. 2.20% 6/15/2027 |  | 2900 | 2795 |
| Altria Group, Inc. 3.125% 6/15/2031 |  | 800 | 711 |
| American Honda Finance Corp. 1.95% 10/18/2024 |  | 560 | 584 |
| American Tower Corp. 0.45% 1/15/2027 |  | 2525 | 2321 |
| American Tower Corp. 0.875% 5/21/2029 |  | 1470 | 1257 |
| AT&T, Inc. 1.60% 5/19/2028 |  | 2350 | 2237 |
| Austria (Republic of) 0% 2/20/2031 |  | 6900 | 5785 |
| Banco de Sabadell, SA 2.625% 3/24/2026 (5-year EUR Mid-Swap + 2.20% on 3/24/2025)<sup>1</sup> |  | 500 | 504 |
| Bank of America Corp. 3.648% 3/31/2029 (3-month EUR-EURIBOR + 3.67% on 3/31/2028)<sup>1,2</sup> |  | 5000 | 5177 |
| CaixaBank, SA 2.25% 4/17/2030 (5-year EUR Annual (vs. 6-month EUR-EURIBOR) + 1.68% on 4/17/2025)<sup>1</sup> |  | 2400 | 2345 |
| Celanese US Holdings, LLC 4.777% 7/19/2026 |  | 235 | 240 |
| Deutsche Bank AG 4.00% 6/24/2032 (3-month EUR-EURIBOR + 3.30% on 6/24/2027)<sup>1</sup> |  | 700 | 665 |
| Deutsche Telekom International Finance BV 7.50% 1/24/2033 |  | 200 | 273 |
| Dow Chemical Co. 0.50% 3/15/2027 |  | 1110 | 1035 |
| E.ON SE 1.625% 3/29/2031 |  | 810 | 731 |
| Egypt (Arab Republic of) 5.625% 4/16/2030 |  | 300 | 224 |
| Equinor ASA 1.375% 5/22/2032 |  | 2550 | 2267 |
| European Investment Bank 0.25% 1/20/2032 |  | 4900 | 4085 |
| European Investment Bank 1.50% 6/15/2032 |  | 1000 | 932 |
| European Union 0% 7/6/2026 |  | 1600 | 1545 |
| European Union 0.25% 10/22/2026 |  | 610 | 591 |
| European Union 0% 7/4/2031 |  | 705 | 584 |
| European Union 0% 7/4/2035 |  | 220 | 159 |
| European Union 0.20% 6/4/2036 |  | 1500 | 1080 |
| Finland (Republic of) 1.50% 9/15/2032 |  | 3380 | 3154 |
| French Republic O.A.T. 0.75% 2/25/2028 |  | 4500 | 4347 |
| French Republic O.A.T. 0% 11/25/2030 |  | 19550 | 16712 |
| French Republic O.A.T. 0% 5/25/2032 |  | 2120 | 1718 |
| French Republic O.A.T. 2.00% 11/25/2032 |  | 4260 | 4162 |
| French Republic O.A.T. 0.50% 5/25/2040 |  | 2080 | 1414 |
| French Republic O.A.T. 0.75% 5/25/2052 |  | 5930 | 3416 |
| Germany (Federal Republic of) 0% 4/11/2025 |  | 2100 | 2124 |
| Germany (Federal Republic of) 0% 10/9/2026 |  | 6060 | 5908 |
| Germany (Federal Republic of) 0% 4/16/2027 |  | 32700 | 31482 |
| Germany (Federal Republic of) 1.30% 10/15/2027 |  | 3580 | 3626 |
| Germany (Federal Republic of) 0% 2/15/2030 |  | 13340 | 12029 |
| Germany (Federal Republic of) 0% 8/15/2030 |  | 15050 | 13413 |
| Germany (Federal Republic of) 0% 8/15/2031 |  | 12600 | 10944 |
| Germany (Federal Republic of) 1.70% 8/15/2032 |  | 10906 | 10887 |
| Germany (Federal Republic of) 1.00% 5/15/2038 |  | 6040 | 5175 |
| Germany (Federal Republic of) 0% 8/15/2050 |  | 1200 | 673 |
| Germany (Federal Republic of) 0% 8/15/2052 |  | 2650 | 1421 |
| Goldman Sachs Group, Inc. 3.375% 3/27/2025<sup>2</sup> |  | 5000 | 5327 |
| Goldman Sachs Group, Inc. 1.00% 3/18/2033<sup>2</sup> |  | 2705 | 2091 |
| Greece (Hellenic Republic of) 3.375% 2/15/2025 |  | 5825 | 6236 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032 |  | 5970 | 5047 |
| Groupe BPCE SA 4.625% 7/18/2023 |  | 1200 | 1296 |
| Groupe BPCE SA 1.00% 4/1/2025 |  | 2900 | 2925 |
| Intesa Sanpaolo SpA 6.625% 9/13/2023 |  | 510 | 557 |
| Israel (State of) 2.875% 1/29/2024 |  | 1180 | 1258 |
| Italy (Republic of) 1.85% 7/1/2025 |  | 17700 | 18218 |
| Italy (Republic of) 1.35% 4/1/2030 |  | 7 | 6 |
| Italy (Republic of) 2.50% 12/1/2032 |  | 9610 | 8613 |
| JPMorgan Chase & Co. 0.389% 2/24/2028 (3-month EUR-EURIBOR + 0.65% on 2/24/2027)<sup>1,2</sup> |  | 3208 | 2944 |

---

206 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Euros (continued)** |  |  |  |
| KfW 0.125% 6/30/2025 | EUR | 590 | $590 |
| Lloyds Banking Group PLC 1.75% 9/7/2028 (5-year EUR-EURIBOR + 1.30% on 9/7/2023)<sup>1</sup> |  | 2400 | 2472 |
| Morgan Stanley 2.103% 5/8/2026 (3-month EUR-EURIBOR + 0.904% on 5/8/2025)<sup>1</sup> |  | 580 | 592 |
| Morgan Stanley 2.95% 5/7/2032 (3-month EUR-EURIBOR + 1.245% on 5/7/2031)<sup>1</sup> |  | 1535 | 1460 |
| Morocco (Kingdom of) 3.50% 6/19/2024 |  | 1400 | 1492 |
| Morocco (Kingdom of) 1.50% 11/27/2031 |  | 3300 | 2617 |
| Philippines (Republic of) 0.25% 4/28/2025 |  | 875 | 870 |
| Portuguese Republic 0.475% 10/18/2030 |  | 1610 | 1395 |
| Quebec (Province of) 0.25% 5/5/2031 |  | 920 | 764 |
| Quebec (Province of) 0.50% 1/25/2032 |  | 1155 | 957 |
| Romania 2.125% 3/7/2028 |  | 1440 | 1291 |
| Romania 1.75% 7/13/2030 |  | 2560 | 1913 |
| Romania 2.00% 1/28/2032 |  | 1605 | 1153 |
| Romania 3.75% 2/7/2034 |  | 530 | 425 |
| Russian Federation 2.875% 12/4/2025<sup>3</sup> |  | 3000 | 1349 |
| Russian Federation 2.875% 12/4/2025<sup>3</sup> |  | 1500 | 674 |
| Serbia (Republic of) 3.125% 5/15/2027 |  | 847 | 783 |
| Serbia (Republic of) 1.50% 6/26/2029 |  | 3353 | 2584 |
| Spain (Kingdom of) 0% 1/31/2027 |  | 2325 | 2198 |
| Spain (Kingdom of) 0.80% 7/30/2027 |  | 8970 | 8674 |
| Spain (Kingdom of) 1.45% 4/30/2029 |  | 1890 | 1824 |
| Spain (Kingdom of) 1.25% 10/31/2030 |  | 1295 | 1191 |
| Spain (Kingdom of) 0.50% 10/31/2031 |  | 4645 | 3873 |
| Spain (Kingdom of) 0.70% 4/30/2032 |  | 4785 | 3993 |
| Spain (Kingdom of) 1.90% 10/31/2052 |  | 1010 | 695 |
| State Grid Overseas Investment, Ltd. 1.375% 5/2/2025 |  | 441 | 442 |
| State Grid Overseas Investment, Ltd. 2.125% 5/2/2030 |  | 200 | 177 |
| Stryker Corp. 0.25% 12/3/2024 |  | 480 | 483 |
| Stryker Corp. 0.75% 3/1/2029 |  | 980 | 877 |
| Stryker Corp. 1.00% 12/3/2031 |  | 450 | 376 |
| TOTAL SA 1.75% junior subordinated perpetual bonds (5-year EUR-EURIBOR + 1.765% on 4/4/2024)<sup>1</sup> |  | 2000 | 2025 |
| Toyota Motor Credit Corp. 0.125% 11/5/2027 |  | 1850 | 1684 |
| Tunisia (Republic of) 6.75% 10/31/2023 |  | 5109 | 4612 |
| Tunisia (Republic of) 6.75% 10/31/2023 |  | 1295 | 1169 |
| Ukraine 6.75% 6/20/2028 |  | 3119 | 619 |
| Ukraine 6.75% 6/20/2028 |  | 1225 | 243 |
| Ukraine 4.375% 1/27/2032 |  | 2705 | 476 |
| Volkswagen International Finance NV 4.375% junior subordinated perpetual bonds (9-year EUR Mid-Swap + 3.36% on 3/28/2031)<sup>1</sup> |  | 1300 | 1140 |
|  |  |  | **293295** |
| **Japanese yen 7.50%** |  |  |  |
| Japan, Series 18, 0.10% 3/10/2024<sup>4</sup> | JPY | 1064481 | 8293 |
| Japan, Series 19, 0.10% 9/10/2024<sup>4</sup> |  | 463865 | 3628 |
| Japan, Series 346, 0.10% 3/20/2027 |  | 777900 | 5905 |
| Japan, Series 356, 0.10% 9/20/2029 |  | 1720800 | 12847 |
| Japan, Series 116, 2.20% 3/20/2030 |  | 576100 | 4933 |
| Japan, Series 26, 0.005% 3/10/2031<sup>4</sup> |  | 527493 | 4178 |
| Japan, Series 362, 0.10% 3/20/2031 |  | 737200 | 5435 |
| Japan, Series 365, 0.10% 12/20/2031 |  | 520150 | 3832 |
| Japan, Series 145, 1.70% 6/20/2033 |  | 742700 | 6290 |
| Japan, Series 152, 1.20% 3/20/2035 |  | 987100 | 7875 |
| Japan, Series 21, 2.30% 12/20/2035 |  | 720000 | 6451 |
| Japan, Series 162, 0.60% 9/20/2037 |  | 1617000 | 11642 |
| Japan, Series 179, 0.50% 12/20/2041 |  | 196950 | 1309 |
| Japan, Series 37, 0.60% 6/20/2050 |  | 694500 | 4183 |
| Japan, Series 70, 0.70% 3/20/2051 |  | 276100 | 1694 |
| Japan, Series 73, 0.70% 12/20/2051 |  | 1568700 | 9576 |

---

American Funds Insurance Series 207

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Japanese yen (continued)** |  |  |  |
| Japan, Series 74, 1.00% 3/20/2052 | JPY | 626900 | $4140 |
| Japan, Series 76, 1.40% 9/20/2052 |  | 296450 | 2162 |
| Philippines (Republic of) 0.001% 4/12/2024 |  | 900000 | 6778 |
|  |  |  | **111151** |
| **British pounds 4.17%** |  |  |  |
| American Honda Finance Corp. 0.75% 11/25/2026 | GBP | 1420 | 1470 |
| Asian Development Bank 1.125% 6/10/2025 |  | 1240 | 1393 |
| KfW 1.125% 7/4/2025 |  | 1165 | 1305 |
| Lloyds Banking Group PLC 7.625% 4/22/2025 |  | 655 | 835 |
| Quebec (Province of) 2.25% 9/15/2026 |  | 1870 | 2083 |
| United Kingdom 0.125% 1/30/2026 |  | 425 | 463 |
| United Kingdom 1.25% 7/22/2027 |  | 3060 | 3335 |
| United Kingdom 4.25% 12/7/2027 |  | 5910 | 7336 |
| United Kingdom 4.75% 12/7/2030 |  | 8230 | 10732 |
| United Kingdom 0.25% 7/31/2031 |  | 11850 | 10738 |
| United Kingdom 1.00% 1/31/2032 |  | 10970 | 10504 |
| United Kingdom 4.25% 6/7/2032 |  | 3010 | 3809 |
| United Kingdom 0.625% 7/31/2035 |  | 210 | 171 |
| United Kingdom 0.875% 1/31/2046 |  | 4916 | 3151 |
| United Kingdom 1.25% 7/31/2051 |  | 6635 | 4338 |
| United Kingdom 1.125% 10/22/2073 |  | 225 | 119 |
|  |  |  | **61782** |
| **Chinese yuan renminbi 2.84%** |  |  |  |
| China (People's Republic of), Series INBK, 2.75% 2/17/2032 | CNY | 25660 | 3646 |
| China (People's Republic of), Series 1910, 3.86% 7/22/2049 |  | 103240 | 16440 |
| China (People's Republic of), Series INBK, 3.39% 3/16/2050 |  | 26230 | 3854 |
| China (People's Republic of), Series INBK, 3.81% 9/14/2050 |  | 51550 | 8146 |
| China (People's Republic of), Series INBK, 3.53% 10/18/2051 |  | 45510 | 6877 |
| China Development Bank Corp., Series 1814, 4.15% 10/26/2025 |  | 20900 | 3133 |
|  |  |  | **42096** |
| **Canadian dollars 2.31%** |  |  |  |
| Canada 0.75% 10/1/2024 | CAD | 14570 | 10169 |
| Canada 0.25% 3/1/2026 |  | 5800 | 3847 |
| Canada 3.50% 3/1/2028 |  | 24018 | 17831 |
| Canada 2.75% 12/1/2048 |  | 3500 | 2337 |
|  |  |  | **34184** |
| **Mexican pesos 2.13%** |  |  |  |
| Petróleos Mexicanos 7.19% 9/12/2024 | MXN | 42534 | 2024 |
| United Mexican States 4.50% 12/4/2025<sup>4</sup> |  | 16544 | 845 |
| United Mexican States, Series M, 5.75% 3/5/2026 |  | 44700 | 2078 |
| United Mexican States, Series M, 7.50% 6/3/2027 |  | 251720 | 12188 |
| United Mexican States, Series M20, 8.50% 5/31/2029 |  | 140400 | 7013 |
| United Mexican States, Series M30, 8.50% 11/18/2038 |  | 21100 | 1025 |
| United Mexican States, Series M, 8.00% 11/7/2047 |  | 7830 | 359 |
| United Mexican States, Series M, 8.00% 7/31/2053 |  | 133170 | 6095 |
|  |  |  | **31627** |
| **Australian dollars 1.63%** |  |  |  |
| Australia (Commonwealth of), Series 163, 1.00% 11/21/2031 | AUD | 5789 | 3061 |
| Australia (Commonwealth of), Series 166, 3.00% 11/21/2033 |  | 12355 | 7622 |
| Australia (Commonwealth of), Series 167, 3.75% 5/21/2034 |  | 20520 | 13529 |
|  |  |  | **24212** |

---

208 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Danish kroner 1.62%** |  |  |  |
| Nordea Kredit 0.50% 10/1/2040<sup>5</sup> | DKK | 17477 | $1955 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2040<sup>5</sup> |  | 90967 | 10167 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043<sup>5</sup> |  | 106007 | 11555 |
| Realkredit Danmark AS 1.00% 10/1/2053<sup>5</sup> |  | 2712 | 285 |
|  |  |  | **23962** |
| **South Korean won 0.52%** |  |  |  |
| South Korea (Republic of), Series 2503, 1.50% 3/10/2025 | KRW | 5183670 | 3908 |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027 |  | 5158930 | 3821 |
|  |  |  | **7729** |
| **Colombian pesos 0.48%** |  |  |  |
| Colombia (Republic of), Series B, 7.00% 3/26/2031 | COP | 31310800 | 4575 |
| Colombia (Republic of), Series B, 7.25% 10/26/2050 |  | 21884200 | 2569 |
|  |  |  | **7144** |
| **Chilean pesos 0.41%** |  |  |  |
| Chile (Republic of) 4.00% 3/1/2023 | CLP | 2300000 | 2681 |
| Chile (Republic of) 1.50% 3/1/2026<sup>4</sup> |  | 808331 | 933 |
| Chile (Republic of) 5.00% 10/1/2028 |  | 955000 | 1089 |
| Chile (Republic of) 4.70% 9/1/2030 |  | 1205000 | 1371 |
|  |  |  | **6074** |
| **Indonesian rupiah 0.37%** |  |  |  |
| Indonesia (Republic of), Series 84, 7.25% 2/15/2026 | IDR | 22733000 | 1495 |
| Indonesia (Republic of), Series 95, 6.375% 8/15/2028 |  | 3136000 | 200 |
| Indonesia (Republic of), Series 78, 8.25% 5/15/2029 |  | 23729000 | 1643 |
| Indonesia (Republic of), Series 82, 7.00% 9/15/2030 |  | 2930000 | 190 |
| Indonesia (Republic of), Series 68, 8.375% 3/15/2034 |  | 27353000 | 1926 |
|  |  |  | **5454** |
| **Russian rubles 0.23%** |  |  |  |
| Russian Federation 7.00% 8/16/2023<sup>3,6</sup> | RUB | 430300 | 1984 |
| Russian Federation 7.65% 4/10/2030<sup>3</sup> |  | 316110 | 1371 |
|  |  |  | **3355** |
| **Brazilian reais 0.21%** |  |  |  |
| Brazil (Federative Republic of) 6.00% 8/15/2024<sup>4</sup> | BRL | 13461 | 2531 |
| Brazil (Federative Republic of) 10.00% 1/1/2025 |  | 3300 | 598 |
|  |  |  | **3129** |
| **South African rand 0.20%** |  |  |  |
| South Africa (Republic of), Series R-2030, 8.00% 1/31/2030 | ZAR | 30120 | 1581 |
| South Africa (Republic of), Series R-2048, 8.75% 2/28/2048 |  | 30850 | 1420 |
|  |  |  | **3001** |
| **Dominican pesos 0.15%** |  |  |  |
| Dominican Republic 8.90% 2/15/2023 | **DOP** | **128000** | **2271** |
| **Malaysian ringgits 0.15%** |  |  |  |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040 | **MYR** | **10588** | **2222** |
| **Ukrainian hryvnia 0.11%** |  |  |  |
| Ukraine 15.97% 4/19/2023<sup>6</sup> | **UAH** | **78370** | **1592** |
| **Indian rupees 0.08%** |  |  |  |
| India (Republic of) 5.15% 11/9/2025 | **INR** | **96010** | **1102** |

---

American Funds Insurance Series 209

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Romanian leu 0.07%** |  |  |  |
| Romania 4.75% 2/24/2025 | **RON** | **5000** | $**1038** |
| **Polish zloty 0.06%** |  |  |  |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029 | **PLN** | **4900** | **879** |
| **Norwegian kroner 0.04%** |  |  |  |
| Norway (Kingdom of) 2.125% 5/18/2032 | **NOK** | **6615** | **619** |
| **U.S. dollars 45.21%** |  |  |  |
| 1375209 BC, Ltd. 9.00% 1/30/2028<sup>7</sup> | USD | 60 | 59 |
| 7-Eleven, Inc. 0.95% 2/10/2026<sup>7</sup> |  | 520 | 456 |
| 7-Eleven, Inc. 1.30% 2/10/2028<sup>7</sup> |  | 2180 | 1810 |
| 7-Eleven, Inc. 1.80% 2/10/2031<sup>7</sup> |  | 2015 | 1544 |
| ACE INA Holdings, Inc. 3.35% 5/3/2026 |  | 195 | 187 |
| ACE INA Holdings, Inc. 4.35% 11/3/2045 |  | 425 | 370 |
| Advisor Group Holdings, LLC 6.25% 3/1/2028<sup>7</sup> |  | 295 | 272 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026 |  | 2102 | 1841 |
| Aeropuerto International de Tocume SA 5.125% 8/11/2061<sup>7</sup> |  | 660 | 542 |
| Aetna, Inc. 2.80% 6/15/2023 |  | 340 | 336 |
| AG Merger Sub II, Inc. 10.75% 8/1/2027<sup>7</sup> |  | 256 | 260 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027<sup>7</sup> |  | 103 | 104 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025)<sup>1,7</sup> |  | 1225 | 1249 |
| Alabama Power Co. 3.00% 3/15/2052 |  | 980 | 651 |
| Albertsons Companies, Inc. 4.625% 1/15/2027<sup>7</sup> |  | 125 | 116 |
| Albertsons Companies, Inc. 3.50% 3/15/2029<sup>7</sup> |  | 340 | 286 |
| Alcoa Nederland Holding BV 4.125% 3/31/2029<sup>7</sup> |  | 75 | 67 |
| Allegheny Technologies, Inc. 4.875% 10/1/2029 |  | 25 | 22 |
| Allegheny Technologies, Inc. 5.125% 10/1/2031 |  | 45 | 40 |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027<sup>7</sup> |  | 280 | 252 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029<sup>7</sup> |  | 90 | 74 |
| Allied Universal Holdco, LLC 9.75% 7/15/2027<sup>7</sup> |  | 175 | 153 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029<sup>7</sup> |  | 300 | 218 |
| Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 10.621% 6/13/2025<sup>8,9</sup> |  | 570 | 429 |
| Altera Infrastructure, LP 8.50% 7/15/2023<sup>3,6,7</sup> |  | 555 | 104 |
| Amazon.com, Inc. 1.50% 6/3/2030 |  | 2040 | 1644 |
| American Electric Power Company, Inc. 1.00% 11/1/2025 |  | 250 | 224 |
| American Express Co. 3.375% 5/3/2024 |  | 4202 | 4119 |
| Amgen, Inc. 2.20% 2/21/2027 |  | 445 | 400 |
| AmWINS Group, Inc. 4.875% 6/30/2029<sup>7</sup> |  | 220 | 187 |
| Anglo American Capital PLC 3.95% 9/10/2050<sup>7</sup> |  | 521 | 383 |
| Angola (Republic of) 9.50% 11/12/2025 |  | 3580 | 3693 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029<sup>7</sup> |  | 200 | 152 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030<sup>7</sup> |  | 130 | 95 |
| Apple, Inc. 3.35% 8/8/2032 |  | 1600 | 1457 |
| Ardagh Group SA 6.50% Cash 6/30/2027<sup>7,10</sup> |  | 210 | 146 |
| Aretec Escrow Issuer, Inc. 7.50% 4/1/2029<sup>7</sup> |  | 180 | 149 |
| Argentine Republic 0.50% 7/9/2030 (0.75% on 7/9/2023)<sup>1</sup> |  | 1921 | 523 |
| Argentine Republic 1.50% 7/9/2035 (3.625% on 7/9/2023)<sup>1</sup> |  | 3025 | 775 |
| Asbury Automotive Group, Inc. 5.00% 2/15/2032<sup>7</sup> |  | 55 | 45 |
| Ascensus, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 10.25% 8/2/2029<sup>8,9</sup> |  | 120 | 106 |
| Ascent Resources Utica Holdings, LLC 8.25% 12/31/2028<sup>7</sup> |  | 160 | 157 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029<sup>7</sup> |  | 55 | 49 |
| AssuredPartners, Inc. 7.00% 8/15/2025<sup>7</sup> |  | 120 | 116 |
| AssuredPartners, Inc. 5.625% 1/15/2029<sup>7</sup> |  | 365 | 301 |
| AstraZeneca PLC 3.50% 8/17/2023 |  | 2700 | 2678 |
| AT&T, Inc. 3.50% 9/15/2053 |  | 2070 | 1406 |
| Atkore, Inc. 4.25% 6/1/2031<sup>7</sup> |  | 25 | 21 |
| Atlantic Aviation FBO, Inc., Term Loan, (3-month USD-LIBOR + 2.75%) 7.134% 9/22/2028<sup>8,9</sup> |  | 149 | 147 |

---

210 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Atlantic Aviation FBO, Inc., Term Loan, (3-month USD-LIBOR + 5.75%) 10.134% 9/21/2029<sup>8,9</sup> | USD | 213 | $207 |
| Avantor Funding, Inc. 4.625% 7/15/2028<sup>7</sup> |  | 160 | 146 |
| Avantor Funding, Inc. 3.875% 11/1/2029<sup>7</sup> |  | 90 | 76 |
| B&G Foods, Inc. 5.25% 4/1/2025 |  | 65 | 57 |
| B&G Foods, Inc. 5.25% 9/15/2027 |  | 220 | 169 |
| Ball Corp. 6.875% 3/15/2028 |  | 108 | 111 |
| Bank of America Corp. 2.456% 10/22/2025 (3-month USD-LIBOR + 0.87% on 10/22/2024)<sup>1</sup> |  | 847 | 801 |
| Bank of America Corp. 1.53% 12/6/2025 (USD-SOFR + 0.65% on 12/6/2024)<sup>1</sup> |  | 6260 | 5778 |
| Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)<sup>1</sup> |  | 3745 | 3286 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031)<sup>1</sup> |  | 4780 | 3693 |
| Bank of Nova Scotia 2.45% 2/2/2032 |  | 2100 | 1695 |
| Barclays Bank PLC 5.304% 8/9/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 8/9/2025)<sup>1</sup> |  | 2350 | 2335 |
| Barclays Bank PLC 5.501% 8/9/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.65% on 8/5/2027)<sup>1</sup> |  | 1290 | 1252 |
| Bath & Body Works, Inc. 6.625% 10/1/2030<sup>7</sup> |  | 120 | 113 |
| Bath & Body Works, Inc. 6.875% 11/1/2035 |  | 75 | 67 |
| Bausch Health Americas, Inc. 9.25% 4/1/2026<sup>7</sup> |  | 80 | 56 |
| Bausch Health Companies, Inc. 5.75% 8/15/2027<sup>7</sup> |  | 140 | 96 |
| Bausch Health Companies, Inc. 14.00% 10/15/2030<sup>7</sup> |  | 160 | 96 |
| Bausch Health Companies, Inc. 5.25% 2/15/2031<sup>7</sup> |  | 160 | 78 |
| Bayer AG 3.375% 10/8/2024<sup>7</sup> |  | 840 | 812 |
| Bayer US Finance II, LLC 4.25% 12/15/2025<sup>7</sup> |  | 203 | 197 |
| Bayerische Motoren Werke AG 3.90% 4/9/2025<sup>7</sup> |  | 900 | 881 |
| Bayerische Motoren Werke AG 4.15% 4/9/2030<sup>7</sup> |  | 900 | 857 |
| Beasley Mezzanine Holdings, LLC 8.625% 2/1/2026<sup>7</sup> |  | 30 | 18 |
| Becton, Dickinson and Company 4.298% 8/22/2032 |  | 320 | 300 |
| Berkshire Hathaway Energy Company 2.85% 5/15/2051 |  | 300 | 198 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031<sup>7</sup> |  | 400 | 350 |
| Blue Racer Midstream, LLC 7.625% 12/15/2025<sup>7</sup> |  | 65 | 65 |
| BMC Software, Inc. 9.125% 3/1/2026<sup>7</sup> |  | 160 | 151 |
| BMC Software, Inc., Term Loan, (3-month USD-LIBOR + 5.50%) 6.128% 3/31/2026<sup>8,9</sup> |  | 25 | 23 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028)<sup>1,7</sup> |  | 700 | 572 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031)<sup>1,7</sup> |  | 1275 | 1000 |
| Boeing Company 5.15% 5/1/2030 |  | 2855 | 2792 |
| Boeing Company 3.625% 2/1/2031 |  | 1127 | 990 |
| Bombardier, Inc. 7.125% 6/15/2026<sup>7</sup> |  | 60 | 58 |
| Bombardier, Inc. 6.00% 2/15/2028<sup>7</sup> |  | 65 | 60 |
| Bombardier, Inc. 7.45% 5/1/2034<sup>7</sup> |  | 125 | 126 |
| Booz Allen Hamilton, Inc. 3.875% 9/1/2028<sup>7</sup> |  | 43 | 38 |
| Booz Allen Hamilton, Inc. 4.00% 7/1/2029<sup>7</sup> |  | 132 | 116 |
| Boyd Gaming Corp. 4.75% 12/1/2027 |  | 120 | 112 |
| Boyd Gaming Corp. 4.75% 6/15/2031<sup>7</sup> |  | 45 | 39 |
| Boyne USA, Inc. 4.75% 5/15/2029<sup>7</sup> |  | 107 | 95 |
| Braskem Netherlands Finance BV 4.50% 1/31/2030<sup>7</sup> |  | 745 | 635 |
| British American Tobacco PLC 2.789% 9/6/2024 |  | 1150 | 1101 |
| British American Tobacco PLC 3.215% 9/6/2026 |  | 955 | 882 |
| British American Tobacco PLC 3.557% 8/15/2027 |  | 1545 | 1414 |
| British American Tobacco PLC 3.462% 9/6/2029 |  | 1150 | 991 |
| Broadcom, Inc. 4.00% 4/15/2029<sup>7</sup> |  | 250 | 228 |
| Broadcom, Inc. 3.419% 4/15/2033<sup>7</sup> |  | 698 | 562 |
| Broadcom, Inc. 3.469% 4/15/2034<sup>7</sup> |  | 48 | 38 |
| Broadcom, Inc. 3.137% 11/15/2035<sup>7</sup> |  | 185 | 137 |
| Broadcom, Inc. 3.75% 2/15/2051<sup>7</sup> |  | 926 | 643 |
| BroadStreet Partners, Inc. 5.875% 4/15/2029<sup>7</sup> |  | 160 | 136 |
| BWX Technologies, Inc. 4.125% 4/15/2029<sup>7</sup> |  | 195 | 171 |
| Caesars Entertainment, Inc. 6.25% 7/1/2025<sup>7</sup> |  | 35 | 34 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029<sup>7</sup> |  | 15 | 12 |
| Caesars Resort Collection, LLC 5.75% 7/1/2025<sup>7</sup> |  | 165 | 162 |
| California Resources Corp. 7.125% 2/1/2026<sup>7</sup> |  | 100 | 96 |

---

American Funds Insurance Series 211

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Callon Petroleum Co. 7.50% 6/15/2030<sup>7</sup> | USD | 30 | $27 |
| Canadian Pacific Railway, Ltd. 2.45% 12/2/2031 |  | 798 | 663 |
| Canadian Pacific Railway, Ltd. 3.10% 12/2/2051 |  | 1378 | 933 |
| CAN-PACK SA 3.875% 11/15/2029<sup>7</sup> |  | 90 | 71 |
| Carnival Corp. 6.00% 5/1/2029<sup>7</sup> |  | 100 | 67 |
| CCO Holdings, LLC 4.75% 3/1/2030<sup>7</sup> |  | 135 | 117 |
| CCO Holdings, LLC 4.50% 8/15/2030<sup>7</sup> |  | 255 | 211 |
| CCO Holdings, LLC 4.25% 2/1/2031<sup>7</sup> |  | 155 | 125 |
| CCO Holdings, LLC 4.50% 6/1/2033<sup>7</sup> |  | 162 | 125 |
| CCO Holdings, LLC 4.25% 1/15/2034<sup>7</sup> |  | 70 | 52 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.125% 5/1/2027<sup>7</sup> |  | 125 | 117 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 3.75% 2/15/2028 |  | 2650 | 2394 |
| CDI Escrow Issuer, Inc. 5.75% 4/1/2030<sup>7</sup> |  | 70 | 63 |
| CDK Global, Inc. 7.25% 6/15/2029<sup>7</sup> |  | 55 | 54 |
| Cedar Fair, LP 5.50% 5/1/2025<sup>7</sup> |  | 120 | 119 |
| Centene Corp. 2.45% 7/15/2028 |  | 40 | 34 |
| Centene Corp. 4.625% 12/15/2029 |  | 325 | 298 |
| Centene Corp. 2.50% 3/1/2031 |  | 155 | 122 |
| Central Garden & Pet Co. 4.125% 10/15/2030 |  | 74 | 61 |
| Central Garden & Pet Co. 4.125% 4/30/2031<sup>7</sup> |  | 110 | 91 |
| Charles River Laboratories International, Inc. 4.25% 5/1/2028<sup>7</sup> |  | 35 | 32 |
| Charles River Laboratories International, Inc. 4.00% 3/15/2031<sup>7</sup> |  | 70 | 61 |
| Cheniere Energy Partners, LP 4.50% 10/1/2029 |  | 160 | 144 |
| Cheniere Energy Partners, LP 4.00% 3/1/2031 |  | 75 | 64 |
| Cheniere Energy Partners, LP 3.25% 1/31/2032 |  | 56 | 45 |
| Chesapeake Energy Corp. 4.875% 4/15/2022<sup>3</sup> |  | 915 | 21 |
| Chesapeake Energy Corp. 5.875% 2/1/2029<sup>7</sup> |  | 130 | 123 |
| Chesapeake Energy Corp. 6.75% 4/15/2029<sup>7</sup> |  | 30 | 29 |
| Ciena Corp. 4.00% 1/31/2030<sup>7</sup> |  | 80 | 71 |
| Cigna Corp. 2.375% 3/15/2031 |  | 375 | 308 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028<sup>7</sup> |  | 45 | 39 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029<sup>7</sup> |  | 55 | 47 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031<sup>7</sup> |  | 130 | 115 |
| CMS Energy Corp. 3.875% 3/1/2024 |  | 100 | 98 |
| CMS Energy Corp. 3.00% 5/15/2026 |  | 1200 | 1118 |
| CNX Resources Corp. 7.25% 3/14/2027<sup>7</sup> |  | 240 | 239 |
| Coinbase Global, Inc. 3.375% 10/1/2028<sup>7</sup> |  | 55 | 29 |
| Coinbase Global, Inc. 3.625% 10/1/2031<sup>7</sup> |  | 85 | 41 |
| Colombia (Republic of) 3.875% 4/25/2027 |  | 350 | 311 |
| Commonwealth Bank of Australia 2.688% 3/11/2031<sup>7</sup> |  | 4650 | 3593 |
| Compass Diversified Holdings 5.25% 4/15/2029<sup>7</sup> |  | 307 | 263 |
| Compass Diversified Holdings 5.00% 1/15/2032<sup>7</sup> |  | 65 | 52 |
| Comstock Resources, Inc. 6.75% 3/1/2029<sup>7</sup> |  | 110 | 99 |
| Comstock Resources, Inc. 5.875% 1/15/2030<sup>7</sup> |  | 65 | 56 |
| Constellation Oil Services Holding SA 4.00% PIK 12/31/2026<sup>10</sup> |  | 1097 | 649 |
| Constellium SE 3.75% 4/15/2029<sup>7</sup> |  | 125 | 102 |
| Consumers Energy Co. 3.375% 8/15/2023 |  | 345 | 342 |
| Consumers Energy Co. 3.60% 8/15/2032 |  | 1600 | 1462 |
| Corebridge Financial, Inc. 3.90% 4/5/2032<sup>7</sup> |  | 748 | 655 |
| CoreLogic, Inc. 4.50% 5/1/2028<sup>7</sup> |  | 364 | 280 |
| CoreLogic, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 10.938% 6/4/2029<sup>8,9</sup> |  | 65 | 47 |
| Corporate Office Properties, LP 2.75% 4/15/2031 |  | 1212 | 910 |
| Covanta Holding Corp. 4.875% 12/1/2029<sup>7</sup> |  | 25 | 21 |
| Crédit Agricole SA 4.375% 3/17/2025<sup>7</sup> |  | 1100 | 1064 |
| Crédit Agricole SA 1.907% 6/16/2026 (USD-SOFR + 1.676% on 6/16/2025)<sup>1,7</sup> |  | 2675 | 2441 |
| Credit Suisse Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031)<sup>1,7</sup> |  | 1000 | 693 |
| Crestwood Midstream Partners, LP 6.00% 2/1/2029<sup>7</sup> |  | 85 | 78 |
| Crestwood Midstream Partners, LP 8.00% 4/1/2029<sup>7</sup> |  | 100 | 100 |
| Crown Castle International Corp. 2.50% 7/15/2031 |  | 767 | 620 |
| CSX Corp. 3.80% 4/15/2050 |  | 75 | 59 |
| CVR Partners, LP 6.125% 6/15/2028<sup>7</sup> |  | 100 | 90 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027<sup>7</sup> |  | 725 | 679 |

---

212 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Danske Bank AS 3.875% 9/12/2023<sup>7</sup> | USD | 1675 | $1654 |
| Darling Ingredients, Inc. 6.00% 6/15/2030<sup>7</sup> |  | 245 | 240 |
| DaVita, Inc. 4.625% 6/1/2030<sup>7</sup> |  | 65 | 52 |
| Deluxe Corp. 8.00% 6/1/2029<sup>7</sup> |  | 20 | 16 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025)<sup>1</sup> |  | 850 | 751 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)<sup>1</sup> |  | 1160 | 985 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032 |  | 930 | 1166 |
| Development Bank of Mongolia, LLC 7.25% 10/23/2023 |  | 1980 | 1777 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>7,9,10</sup> |  | 25 | 24 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>10</sup> |  | 22 | 21 |
| Diamond Sports Group, LLC 6.625% 8/15/2027<sup>7</sup> |  | 310 | 3 |
| Diebold Nixdorf, Inc. 9.375% 7/15/2025<sup>7</sup> |  | 309 | 221 |
| Diebold Nixdorf, Inc., Term Loan, (USD-SOFR + 5.25%) 6.75% 7/15/2025<sup>6,8,9</sup> |  | 93 | 63 |
| Digital Currency Group, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8.00% 11/30/2026<sup>6,8,9</sup> |  | 17 | 15 |
| Digital Currency Group, Inc., Term Loan, 8.75% 11/30/2026<sup>6,8</sup> |  | 22 | 18 |
| DIRECTV Financing, LLC 5.875% 8/15/2027<sup>7</sup> |  | 110 | 99 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD-LIBOR + 5.00%) 9.384% 8/2/2027<sup>8,9</sup> |  | 102 | 99 |
| Discovery Communications, Inc. 3.625% 5/15/2030 |  | 468 | 387 |
| DISH DBS Corp. 5.25% 12/1/2026<sup>7</sup> |  | 15 | 13 |
| DISH Network Corp. 11.75% 11/15/2027<sup>7</sup> |  | 260 | 268 |
| Dominican Republic 5.50% 1/27/2025<sup>7</sup> |  | 1375 | 1366 |
| Dominican Republic 8.625% 4/20/2027<sup>7</sup> |  | 225 | 235 |
| Dominican Republic 5.50% 2/22/2029<sup>7</sup> |  | 350 | 323 |
| Dominican Republic 6.40% 6/5/2049<sup>7</sup> |  | 813 | 660 |
| Duke Energy Progress, LLC 2.00% 8/15/2031 |  | 2360 | 1871 |
| Dun & Bradstreet Corp. 5.00% 12/15/2029<sup>7</sup> |  | 197 | 169 |
| Edison International 4.125% 3/15/2028 |  | 2390 | 2222 |
| Edison International 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.901% on 3/15/2049)<sup>1</sup> |  | 100 | 84 |
| Electricité de France SA 4.875% 9/21/2038<sup>7</sup> |  | 795 | 649 |
| Empresas Publicas de Medellin ESP 4.25% 7/18/2029<sup>7</sup> |  | 1030 | 819 |
| Enbridge, Inc. 4.00% 10/1/2023 |  | 600 | 595 |
| Endo Luxembourg Finance Co. I SARL / Endo U.S., Inc. 6.125% 4/1/2029<sup>7</sup> |  | 205 | 156 |
| Enel Finance International SA 1.375% 7/12/2026<sup>7</sup> |  | 1248 | 1077 |
| Enel Finance International SA 1.875% 7/12/2028<sup>7</sup> |  | 1227 | 977 |
| Entegris Escrow Corp. 4.75% 4/15/2029<sup>7</sup> |  | 45 | 41 |
| Entergy Corp. 0.90% 9/15/2025 |  | 750 | 669 |
| Entergy Louisiana, LLC 4.75% 9/15/2052 |  | 1275 | 1151 |
| EQM Midstream Partners, LP 6.50% 7/1/2027<sup>7</sup> |  | 225 | 215 |
| EQM Midstream Partners, LP 7.50% 6/1/2030<sup>7</sup> |  | 45 | 43 |
| EQM Midstream Partners, LP 6.50% 7/15/2048 |  | 40 | 30 |
| EQT Corp. 7.25% 2/1/2030<sup>1</sup> |  | 40 | 42 |
| Equinix, Inc. 1.80% 7/15/2027 |  | 1145 | 982 |
| Equinix, Inc. 2.15% 7/15/2030 |  | 3216 | 2566 |
| Ethiopia (Federal Democratic Republic of) 6.625% 12/11/2024 |  | 3910 | 2457 |
| Fair Isaac Corp. 4.00% 6/15/2028<sup>7</sup> |  | 120 | 109 |
| Fannie Mae Pool #MA2754 3.00% 9/1/2026<sup>5</sup> |  | 59 | 57 |
| Fannie Mae Pool #AO4151 3.50% 6/1/2042<sup>5</sup> |  | 108 | 101 |
| Fannie Mae Pool #AP7888 3.50% 10/1/2042<sup>5</sup> |  | 338 | 316 |
| Fannie Mae Pool #AQ0770 3.50% 11/1/2042<sup>5</sup> |  | 131 | 123 |
| Fannie Mae Pool #FM8399 2.50% 8/1/2051<sup>5</sup> |  | 889 | 759 |
| Fannie Mae Pool #BT9589 2.50% 8/1/2051<sup>5</sup> |  | 34 | 29 |
| Fannie Mae Pool #CB1552 2.50% 9/1/2051<sup>5</sup> |  | 998 | 848 |
| Fannie Mae Pool #BQ7435 2.50% 9/1/2051<sup>5</sup> |  | 97 | 83 |
| Fannie Mae Pool #MA4414 2.50% 9/1/2051<sup>5</sup> |  | 33 | 28 |
| Fannie Mae Pool #FS0031 2.50% 10/1/2051<sup>5</sup> |  | 336 | 284 |
| Fannie Mae Pool #BT3056 2.50% 11/1/2051<sup>5</sup> |  | 721 | 613 |
| Fannie Mae Pool #CB2402 2.50% 12/1/2051<sup>5</sup> |  | 3207 | 2718 |
| Fannie Mae Pool #BU3413 2.50% 12/1/2051<sup>5</sup> |  | 807 | 685 |
| Fannie Mae Pool #BU3058 2.50% 12/1/2051<sup>5</sup> |  | 268 | 227 |

---

American Funds Insurance Series 213

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Fannie Mae Pool #BV2930 2.50% 1/1/2052<sup>5</sup> | USD | 998 | $846 |
| Fannie Mae Pool #BU8226 2.50% 2/1/2052<sup>5</sup> |  | 1260 | 1070 |
| Fannie Mae Pool #BU1339 2.50% 2/1/2052<sup>5</sup> |  | 275 | 234 |
| Fannie Mae Pool #BV0307 2.50% 2/1/2052<sup>5</sup> |  | 273 | 232 |
| Fannie Mae Pool #BQ7473 2.50% 2/1/2052<sup>5</sup> |  | 158 | 134 |
| Fannie Mae Pool #CB2866 2.50% 2/1/2052<sup>5</sup> |  | 95 | 81 |
| Fannie Mae Pool #BV2189 2.50% 2/1/2052<sup>5</sup> |  | 62 | 53 |
| Fannie Mae Pool #CB2876 2.50% 2/1/2052<sup>5</sup> |  | 31 | 27 |
| Fannie Mae Pool #CB2809 2.50% 2/1/2052<sup>5</sup> |  | 32 | 27 |
| Fannie Mae Pool #BV3694 2.50% 2/1/2052<sup>5</sup> |  | 32 | 27 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052<sup>5</sup> |  | 2865 | 2557 |
| Fannie Mae Pool #BV4040 2.50% 3/1/2052<sup>5</sup> |  | 1645 | 1398 |
| Fannie Mae Pool #BV7520 2.50% 3/1/2052<sup>5</sup> |  | 864 | 734 |
| Fannie Mae Pool #BV8086 2.50% 3/1/2052<sup>5</sup> |  | 809 | 690 |
| Fannie Mae Pool #BU6885 2.50% 3/1/2052<sup>5</sup> |  | 808 | 686 |
| Fannie Mae Pool #BV5642 2.50% 3/1/2052<sup>5</sup> |  | 94 | 80 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052<sup>5</sup> |  | 4881 | 4140 |
| Fannie Mae Pool #BV5332 2.50% 4/1/2052<sup>5</sup> |  | 1929 | 1638 |
| Fannie Mae Pool #BQ7478 2.50% 4/1/2052<sup>5</sup> |  | 1222 | 1038 |
| Fannie Mae Pool #CB3350 2.50% 4/1/2052<sup>5</sup> |  | 1011 | 859 |
| Fannie Mae Pool #BU8802 2.50% 4/1/2052<sup>5</sup> |  | 998 | 848 |
| Fannie Mae Pool #BU8916 2.50% 4/1/2052<sup>5</sup> |  | 785 | 666 |
| Fannie Mae Pool #BU6901 2.50% 4/1/2052<sup>5</sup> |  | 91 | 77 |
| Fannie Mae Pool #MA4600 3.50% 5/1/2052<sup>5</sup> |  | 2782 | 2531 |
| Fannie Mae Pool #BV8959 2.50% 6/1/2052<sup>5</sup> |  | 127 | 108 |
| Fannie Mae Pool #FS2239 2.50% 7/1/2052<sup>5</sup> |  | 6973 | 5920 |
| Fannie Mae Pool #FS2555 4.50% 7/1/2052<sup>5</sup> |  | 1105 | 1065 |
| Fannie Mae Pool #BW6395 4.50% 8/1/2052<sup>5</sup> |  | 999 | 963 |
| Fannie Mae Pool #BW5789 4.50% 8/1/2052<sup>5</sup> |  | 371 | 357 |
| Fannie Mae Pool #BW1201 5.00% 9/1/2052<sup>5</sup> |  | 2820 | 2783 |
| Fannie Mae Pool #MA4761 5.00% 9/1/2052<sup>5</sup> |  | 524 | 517 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>5</sup> |  | 2209 | 2128 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052<sup>5</sup> |  | 1300 | 1283 |
| Fannie Mae Pool #MA4804 4.00% 11/1/2052<sup>5</sup> |  | 854 | 802 |
| Fannie Mae Pool #MA4839 4.00% 12/1/2052<sup>5</sup> |  | 442 | 415 |
| Fannie Mae Pool #MA4841 5.00% 12/1/2052<sup>5</sup> |  | 3000 | 2961 |
| Fannie Mae Pool #MA4866 4.00% 1/1/2053<sup>5</sup> |  | 238 | 223 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>5</sup> |  | 1000 | 987 |
| Fertitta Entertainment, Inc. 4.625% 1/15/2029<sup>7</sup> |  | 25 | 21 |
| Fertitta Entertainment, Inc. 6.75% 1/15/2030<sup>7</sup> |  | 25 | 20 |
| First Quantum Minerals, Ltd. 6.875% 3/1/2026<sup>7</sup> |  | 325 | 308 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027<sup>7</sup> |  | 240 | 226 |
| First Student Bidco, Inc. 4.00% 7/31/2029<sup>7</sup> |  | 85 | 70 |
| FirstEnergy Corp., Series B, 4.40% 7/15/2027 (4.15% on 1/15/2023)<sup>1</sup> |  | 1800 | 1678 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028<sup>7</sup> |  | 2325 | 2033 |
| Florida Power & Light Company 2.875% 12/4/2051 |  | 1465 | 990 |
| Ford Motor Co. 3.25% 2/12/2032 |  | 20 | 15 |
| Ford Motor Credit Company, LLC 3.81% 1/9/2024 |  | 290 | 282 |
| Ford Motor Credit Company, LLC 2.90% 2/16/2028 |  | 200 | 165 |
| Ford Motor Credit Company, LLC 4.00% 11/13/2030 |  | 125 | 103 |
| Freddie Mac Pool #ZS8588 3.00% 11/1/2030<sup>5</sup> |  | 47 | 45 |
| Freddie Mac, Series K153, Class A2, Multi Family, 3.82% 1/25/2033<sup>5</sup> |  | 3975 | 3742 |
| Freddie Mac Pool #QC7173 2.50% 9/1/2051<sup>5</sup> |  | 132 | 112 |
| Freddie Mac Pool #QC9156 2.50% 10/1/2051<sup>5</sup> |  | 866 | 736 |
| Freddie Mac Pool #QD1523 2.50% 11/1/2051<sup>5</sup> |  | 757 | 643 |
| Freddie Mac Pool #QD2521 2.50% 12/1/2051<sup>5</sup> |  | 67 | 57 |
| Freddie Mac Pool #SD0853 2.50% 1/1/2052<sup>5</sup> |  | 885 | 750 |
| Freddie Mac Pool #QD9066 2.50% 2/1/2052<sup>5</sup> |  | 210 | 179 |
| Freddie Mac Pool #QD7063 2.50% 2/1/2052<sup>5</sup> |  | 95 | 81 |
| Freddie Mac Pool #QD9879 2.50% 3/1/2052<sup>5</sup> |  | 730 | 619 |
| Freddie Mac Pool #QD9460 2.50% 3/1/2052<sup>5</sup> |  | 663 | 562 |
| Freddie Mac Pool #RA6959 2.50% 3/1/2052<sup>5</sup> |  | 27 | 23 |

---

214 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Freddie Mac Pool #QD9200 2.50% 4/1/2052<sup>5</sup> | USD | 919 | $780 |
| Freddie Mac Pool #QE0323 2.50% 4/1/2052<sup>5</sup> |  | 900 | 765 |
| Freddie Mac Pool #QE2310 2.50% 4/1/2052<sup>5</sup> |  | 840 | 713 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052<sup>5</sup> |  | 3563 | 3345 |
| Freddie Mac Pool #QE6084 5.00% 7/1/2052<sup>5</sup> |  | 1276 | 1260 |
| Freddie Mac Pool #QE8063 4.00% 8/1/2052<sup>5</sup> |  | 300 | 282 |
| Freddie Mac Pool #QE8065 4.50% 8/1/2052<sup>5</sup> |  | 3700 | 3565 |
| Freddie Mac Pool #QF0152 4.50% 9/1/2052<sup>5</sup> |  | 500 | 482 |
| Freddie Mac Pool #QF1489 4.00% 10/1/2052<sup>5</sup> |  | 1000 | 939 |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052<sup>5</sup> |  | 400 | 376 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052<sup>5</sup> |  | 8419 | 8111 |
| Freddie Mac Pool #QF0866 4.50% 10/1/2052<sup>5</sup> |  | 2226 | 2151 |
| Freddie Mac Pool #QF1486 4.50% 10/1/2052<sup>5</sup> |  | 400 | 385 |
| Freddie Mac Pool #QF3304 5.00% 10/1/2052<sup>5</sup> |  | 800 | 790 |
| Freddie Mac Pool #SD8264 3.50% 11/1/2052<sup>5</sup> |  | 4668 | 4246 |
| Freddie Mac Pool #QF3985 4.00% 11/1/2052<sup>5</sup> |  | 308 | 290 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>5</sup> |  | 598 | 576 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052<sup>5</sup> |  | 4753 | 4692 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>5</sup> |  | 507 | 501 |
| Frontier Communications Corp. 5.875% 10/15/2027<sup>7</sup> |  | 100 | 93 |
| Frontier Communications Corp. 5.00% 5/1/2028<sup>7</sup> |  | 65 | 57 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029 |  | 250 | 194 |
| FS Energy and Power Fund 7.50% 8/15/2023<sup>7</sup> |  | 150 | 150 |
| FXI Holdings, Inc. 12.25% 11/15/2026<sup>7</sup> |  | 497 | 412 |
| Gartner, Inc. 3.75% 10/1/2030<sup>7</sup> |  | 70 | 60 |
| General Motors Financial Co. 1.05% 3/8/2024 |  | 725 | 689 |
| Genesis Energy, LP 8.00% 1/15/2027 |  | 125 | 118 |
| Georgia (Republic of) 2.75% 4/22/2026<sup>7</sup> |  | 400 | 363 |
| GoDaddy Operating Co. 3.50% 3/1/2029<sup>7</sup> |  | 80 | 67 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026)<sup>1</sup> |  | 1080 | 933 |
| Goldman Sachs Group, Inc. 2.383% 7/21/2032 (USD-SOFR + 1.248% on 7/21/2031)<sup>1</sup> |  | 726 | 565 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>5,11</sup> |  | 7440 | 6837 |
| Gray Escrow II, Inc. 5.375% 11/15/2031<sup>7</sup> |  | 30 | 22 |
| Group 1 Automotive, Inc. 4.00% 8/15/2028<sup>7</sup> |  | 145 | 123 |
| Groupe BPCE SA 5.15% 7/21/2024<sup>7</sup> |  | 1800 | 1763 |
| Grupo Energia Bogota SA ESP 4.875% 5/15/2030<sup>7</sup> |  | 660 | 593 |
| Hanesbrands, Inc. 4.625% 5/15/2024<sup>7</sup> |  | 120 | 116 |
| Hanesbrands, Inc. 4.875% 5/15/2026<sup>7</sup> |  | 100 | 90 |
| Harsco Corp. 5.75% 7/31/2027<sup>7</sup> |  | 200 | 158 |
| Harvest Midstream I, LP 7.50% 9/1/2028<sup>7</sup> |  | 25 | 24 |
| HCA, Inc. 5.625% 9/1/2028 |  | 120 | 120 |
| HealthEquity, Inc. 4.50% 10/1/2029<sup>7</sup> |  | 30 | 26 |
| Hess Midstream Operations, LP 5.50% 10/15/2030<sup>7</sup> |  | 34 | 31 |
| Hightower Holding, LLC 6.75% 4/15/2029<sup>7</sup> |  | 235 | 198 |
| Hilcorp Energy I, LP 6.00% 4/15/2030<sup>7</sup> |  | 105 | 94 |
| Hilcorp Energy I, LP 6.00% 2/1/2031<sup>7</sup> |  | 115 | 100 |
| Hilton Worldwide Holdings, Inc. 4.875% 1/15/2030 |  | 25 | 23 |
| Hilton Worldwide Holdings, Inc. 4.00% 5/1/2031<sup>7</sup> |  | 155 | 130 |
| Honduras (Republic of) 6.25% 1/19/2027 |  | 2083 | 1843 |
| Honduras (Republic of) 5.625% 6/24/2030 |  | 958 | 773 |
| Howard Hughes Corp. 5.375% 8/1/2028<sup>7</sup> |  | 275 | 248 |
| Howard Hughes Corp. 4.125% 2/1/2029<sup>7</sup> |  | 195 | 164 |
| Howard Hughes Corp. 4.375% 2/1/2031<sup>7</sup> |  | 120 | 97 |
| Howard Midstream Energy Partners, LLC 6.75% 1/15/2027<sup>7</sup> |  | 60 | 58 |
| HSBC Holdings PLC 2.633% 11/7/2025 (3-month USD-LIBOR + 1.14% on 11/7/2024)<sup>1</sup> |  | 305 | 287 |
| HSBC Holdings PLC 4.292% 9/12/2026 (3-month USD-LIBOR + 1.348% on 9/12/2025)<sup>1</sup> |  | 4172 | 3995 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031)<sup>1</sup> |  | 921 | 706 |
| Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.125%) 5.824% 2/24/2023<sup>9</sup> |  | 3326 | 3316 |
| Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.25%) 6.007% 2/24/2025<sup>9</sup> |  | 363 | 342 |
| Huarong Finance II Co., Ltd. 5.50% 1/16/2025 |  | 880 | 835 |

---

American Funds Insurance Series 215

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Huarong Finance II Co., Ltd. 5.00% 11/19/2025 | USD | 1007 | $931 |
| HUB International, Ltd. 7.00% 5/1/2026<sup>7</sup> |  | 315 | 309 |
| Hyundai Capital America 0.875% 6/14/2024<sup>7</sup> |  | 1200 | 1120 |
| Hyundai Capital America 1.50% 6/15/2026<sup>7</sup> |  | 2375 | 2061 |
| Hyundai Capital America 1.65% 9/17/2026<sup>7</sup> |  | 269 | 237 |
| Hyundai Capital America 2.00% 6/15/2028<sup>7</sup> |  | 600 | 490 |
| Hyundai Capital Services, Inc. 3.75% 3/5/2023<sup>7</sup> |  | 2450 | 2442 |
| iHeartCommunications, Inc. 5.25% 8/15/2027<sup>7</sup> |  | 80 | 68 |
| Ingles Markets, Inc. 4.00% 6/15/2031<sup>7</sup> |  | 140 | 118 |
| Intesa Sanpaolo SpA 5.017% 6/26/2024<sup>7</sup> |  | 3270 | 3145 |
| Intesa Sanpaolo SpA 7.00% 11/21/2025<sup>7</sup> |  | 225 | 230 |
| Iraq (Republic of) 6.752% 3/9/2023<sup>7</sup> |  | 545 | 539 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032<sup>7</sup> |  | 55 | 46 |
| Iron Mountain, Inc. 5.25% 7/15/2030<sup>7</sup> |  | 235 | 205 |
| Israel (State of) 3.375% 1/15/2050 |  | 1470 | 1136 |
| Israel (State of) 3.875% 7/3/2050 |  | 795 | 672 |
| Jacobs Entertainment, Inc. 6.75% 2/15/2029<sup>7</sup> |  | 25 | 23 |
| JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)<sup>1</sup> |  | 45 | 43 |
| Kantar Group, LLC, Term Loan B2, (3-month USD-LIBOR + 4.50%) 9.23% 12/4/2026<sup>8,9</sup> |  | 64 | 60 |
| KB Home 6.875% 6/15/2027 |  | 50 | 50 |
| Keb Hana Bank 3.25% 3/30/2027<sup>7</sup> |  | 1370 | 1278 |
| Kennedy-Wilson Holdings, Inc. 4.75% 3/1/2029 |  | 110 | 87 |
| Kennedy-Wilson Holdings, Inc. 4.75% 2/1/2030 |  | 245 | 187 |
| Kinetik Holdings, LP 5.875% 6/15/2030<sup>7</sup> |  | 50 | 47 |
| Kronos Acquisition Holdings, Inc. 5.00% 12/31/2026<sup>7</sup> |  | 85 | 74 |
| Kronos Acquisition Holdings, Inc. 7.00% 12/31/2027<sup>7</sup> |  | 140 | 115 |
| LABL Escrow Issuer, LLC 10.50% 7/15/2027<sup>7</sup> |  | 45 | 42 |
| Lamar Media Corp. 3.75% 2/15/2028 |  | 135 | 121 |
| Lamar Media Corp. 3.625% 1/15/2031 |  | 160 | 132 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030<sup>7</sup> |  | 200 | 177 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032<sup>7</sup> |  | 60 | 53 |
| Las Vegas Sands Corp. 3.20% 8/8/2024 |  | 25 | 24 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029<sup>7</sup> |  | 110 | 88 |
| Level 3 Financing, Inc. 3.75% 7/15/2029<sup>7</sup> |  | 210 | 151 |
| Levi Strauss & Co. 3.50% 3/1/2031<sup>7</sup> |  | 115 | 91 |
| Ligado Networks, LLC 15.50% PIK 11/1/2023<sup>7,10</sup> |  | 124 | 40 |
| Lindblad Expeditions, LLC 6.75% 2/15/2027<sup>7</sup> |  | 5 | 5 |
| Lithia Motors, Inc. 4.625% 12/15/2027<sup>7</sup> |  | 120 | 108 |
| Live Nation Entertainment, Inc. 4.75% 10/15/2027<sup>7</sup> |  | 130 | 116 |
| Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 5/11/2026)<sup>1</sup> |  | 7000 | 6067 |
| LPL Holdings, Inc. 4.625% 11/15/2027<sup>7</sup> |  | 485 | 454 |
| LPL Holdings, Inc. 4.00% 3/15/2029<sup>7</sup> |  | 25 | 22 |
| LSB Industries, Inc. 6.25% 10/15/2028<sup>7</sup> |  | 126 | 115 |
| LSC Communications, Inc. 8.75% 10/15/2023<sup>3,6,7</sup> |  | 431 | 1 |
| Mallinckrodt PLC 10.00% 4/15/2025<sup>7</sup> |  | 440 | 379 |
| Marriott International, Inc. 2.75% 10/15/2033 |  | 5 | 4 |
| Mastercard, Inc. 2.00% 11/18/2031 |  | 600 | 483 |
| Match Group, Inc. 5.625% 2/15/2029<sup>7</sup> |  | 130 | 121 |
| Meituan Dianping 2.125% 10/28/2025 |  | 1730 | 1532 |
| Meituan Dianping 3.05% 10/28/2030<sup>7</sup> |  | 3095 | 2390 |
| Methanex Corp. 5.125% 10/15/2027 |  | 55 | 51 |
| Methanex Corp. 5.25% 12/15/2029 |  | 170 | 151 |
| Mexico City Airport Trust 5.50% 7/31/2047 |  | 432 | 334 |
| MGM Resorts International 5.50% 4/15/2027 |  | 90 | 84 |
| Midas OpCo Holdings, LLC 5.625% 8/15/2029<sup>7</sup> |  | 145 | 120 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027<sup>7</sup> |  | 63 | 63 |
| Mineral Resources, Ltd. 8.00% 11/1/2027<sup>7</sup> |  | 155 | 159 |
| Mineral Resources, Ltd. 8.50% 5/1/2030<sup>7</sup> |  | 25 | 25 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027<sup>7</sup> |  | 3236 | 2937 |
| Mohegan Gaming & Entertainment 8.00% 2/1/2026<sup>7</sup> |  | 105 | 98 |

---

216 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Molina Healthcare, Inc. 4.375% 6/15/2028<sup>7</sup> | USD | 80 | $73 |
| Molina Healthcare, Inc. 3.875% 11/15/2030<sup>7</sup> |  | 75 | 64 |
| MoneyGram International, Inc. 5.375% 8/1/2026<sup>7</sup> |  | 50 | 51 |
| Morgan Stanley 1.593% 5/4/2027 (USD-SOFR + 0.879% on 5/4/2026)<sup>1</sup> |  | 2164 | 1901 |
| Morgan Stanley 1.928% 4/28/2032 (USD-SOFR + 1.02% on 4/28/2031)<sup>1</sup> |  | 1396 | 1057 |
| Mozart Debt Merger Sub, Inc. 5.25% 10/1/2029<sup>7</sup> |  | 155 | 123 |
| MSCI, Inc. 3.875% 2/15/2031<sup>7</sup> |  | 215 | 179 |
| MSCI, Inc. 3.625% 11/1/2031<sup>7</sup> |  | 350 | 290 |
| Murphy Oil Corp. 5.625% 5/1/2027 |  | 15 | 15 |
| Murphy Oil USA, Inc. 4.75% 9/15/2029 |  | 48 | 44 |
| Nabors Industries, Inc. 7.375% 5/15/2027<sup>7</sup> |  | 55 | 53 |
| National Financial Partners Corp. 6.875% 8/15/2028<sup>7</sup> |  | 105 | 87 |
| Nationstar Mortgage Holdings, Inc. 5.125% 12/15/2030<sup>7</sup> |  | 135 | 104 |
| Navient Corp. 5.00% 3/15/2027 |  | 45 | 39 |
| Navient Corp. 4.875% 3/15/2028 |  | 145 | 119 |
| NCL Corp., Ltd. 5.875% 2/15/2027<sup>7</sup> |  | 80 | 69 |
| NCR Corp. 5.25% 10/1/2030<sup>7</sup> |  | 15 | 12 |
| Neiman Marcus Group, LLC 7.125% 4/1/2026<sup>7</sup> |  | 85 | 80 |
| Netflix, Inc. 4.875% 4/15/2028 |  | 45 | 44 |
| Netflix, Inc. 4.875% 6/15/2030<sup>7</sup> |  | 225 | 210 |
| New Fortress Energy, Inc. 6.75% 9/15/2025<sup>7</sup> |  | 50 | 47 |
| New Fortress Energy, Inc. 6.50% 9/30/2026<sup>7</sup> |  | 255 | 237 |
| New York Life Global Funding 1.20% 8/7/2030<sup>7</sup> |  | 2725 | 2094 |
| Newell Rubbermaid, Inc. 4.70% 4/1/2026 |  | 80 | 75 |
| Nexstar Broadcasting, Inc. 4.75% 11/1/2028<sup>7</sup> |  | 255 | 221 |
| Nexstar Escrow Corp. 5.625% 7/15/2027<sup>7</sup> |  | 115 | 106 |
| NGL Energy Operating, LLC 7.50% 2/1/2026<sup>7</sup> |  | 215 | 192 |
| NGL Energy Partners, LP 7.50% 11/1/2023 |  | 200 | 195 |
| Niagara Mohawk Power Corp. 3.508% 10/1/2024<sup>7</sup> |  | 180 | 173 |
| Northern Oil and Gas, Inc. 8.125% 3/1/2028<sup>7</sup> |  | 335 | 322 |
| NorthRiver Midstream Finance, LP 5.625% 2/15/2026<sup>7</sup> |  | 105 | 100 |
| NortonLifeLock, Inc. 7.125% 9/30/2030<sup>7</sup> |  | 160 | 157 |
| Nova Chemicals Corp. 5.25% 6/1/2027<sup>7</sup> |  | 20 | 18 |
| Novelis Corp. 4.75% 1/30/2030<sup>7</sup> |  | 80 | 71 |
| Novelis Corp. 3.875% 8/15/2031<sup>7</sup> |  | 20 | 16 |
| NuStar Logistics, LP 5.625% 4/28/2027 |  | 80 | 75 |
| Oasis Petroleum, Inc. 6.375% 6/1/2026<sup>7</sup> |  | 35 | 34 |
| Occidental Petroleum Corp. 6.375% 9/1/2028 |  | 194 | 196 |
| Occidental Petroleum Corp. 8.875% 7/15/2030 |  | 25 | 28 |
| Occidental Petroleum Corp. 6.625% 9/1/2030 |  | 125 | 129 |
| Occidental Petroleum Corp. 6.125% 1/1/2031 |  | 65 | 66 |
| Occidental Petroleum Corp. 6.45% 9/15/2036 |  | 18 | 18 |
| Occidental Petroleum Corp. 6.60% 3/15/2046 |  | 15 | 15 |
| State of Ohio, Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, 3.216% 2/15/2048 |  | 1410 | 1008 |
| Oleoducto Central SA 4.00% 7/14/2027<sup>7</sup> |  | 2535 | 2241 |
| Oleoducto Central SA 4.00% 7/14/2027 |  | 630 | 557 |
| Open Text Corp. 3.875% 2/15/2028<sup>7</sup> |  | 25 | 22 |
| Open Text Corp., Term Loan B, (3-month USD-LIBOR + 3.50%) 3.50% 11/16/2029<sup>8,9</sup> |  | 155 | 151 |
| Option Care Health, Inc. 4.375% 10/31/2029<sup>7</sup> |  | 25 | 22 |
| Oracle Corp. 2.65% 7/15/2026 |  | 2327 | 2142 |
| Oracle Corp. 3.25% 11/15/2027 |  | 1880 | 1730 |
| Oracle Corp. 3.60% 4/1/2050 |  | 980 | 664 |
| Oracle Corp. 3.95% 3/25/2051 |  | 22 | 16 |
| Orange SA 9.00% 3/1/2031<sup>1</sup> |  | 2434 | 2985 |
| Oxford Finance, LLC 6.375% 2/1/2027<sup>7</sup> |  | 30 | 28 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028 |  | 542 | 499 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040 |  | 6850 | 4661 |
| Panama (Republic of) 3.75% 4/17/2026<sup>7</sup> |  | 465 | 439 |
| Panther BF Aggregator 2, LP 6.25% 5/15/2026<sup>7</sup> |  | 44 | 43 |
| Panther BF Aggregator 2, LP 8.50% 5/15/2027<sup>7</sup> |  | 85 | 83 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029<sup>7</sup> |  | 65 | 55 |

---

American Funds Insurance Series 217

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Party City Holdings, Inc. 8.75% 2/15/2026<sup>7</sup> | USD | 5 | $1 |
| Performance Food Group, Inc. 5.50% 10/15/2027<sup>7</sup> |  | 11 | 10 |
| Peru (Republic of) 2.392% 1/23/2026 |  | 500 | 461 |
| Petrobras Global Finance Co. 6.75% 6/3/2050 |  | 29 | 25 |
| Petrobras Global Finance Co. 5.50% 6/10/2051 |  | 21 | 16 |
| Petróleos Mexicanos 4.625% 9/21/2023 |  | 714 | 704 |
| Petróleos Mexicanos 6.875% 10/16/2025 |  | 660 | 647 |
| Petróleos Mexicanos 6.875% 8/4/2026 |  | 865 | 819 |
| Petróleos Mexicanos 6.49% 1/23/2027 |  | 406 | 371 |
| Petróleos Mexicanos 6.50% 3/13/2027 |  | 1493 | 1365 |
| Petróleos Mexicanos 6.84% 1/23/2030 |  | 681 | 564 |
| Petróleos Mexicanos 6.70% 2/16/2032 |  | 779 | 613 |
| Petróleos Mexicanos 6.75% 9/21/2047 |  | 346 | 222 |
| Petróleos Mexicanos 7.69% 1/23/2050 |  | 55 | 38 |
| Petróleos Mexicanos 6.95% 1/28/2060 |  | 201 | 128 |
| PG&E Corp. 5.00% 7/1/2028 |  | 145 | 133 |
| PG&E Corp. 5.25% 7/1/2030 |  | 175 | 160 |
| PGT Innovations, Inc. 4.375% 10/1/2029<sup>7</sup> |  | 5 | 4 |
| Philip Morris International, Inc. 5.125% 11/17/2027 |  | 315 | 318 |
| Philip Morris International, Inc. 5.625% 11/17/2029 |  | 420 | 427 |
| Philip Morris International, Inc. 2.10% 5/1/2030 |  | 634 | 514 |
| Philip Morris International, Inc. 5.75% 11/17/2032 |  | 1554 | 1589 |
| Picard Midco, Inc. 6.50% 3/31/2029<sup>7</sup> |  | 235 | 198 |
| Post Holdings, Inc. 5.625% 1/15/2028<sup>7</sup> |  | 85 | 80 |
| Post Holdings, Inc. 5.50% 12/15/2029<sup>7</sup> |  | 80 | 73 |
| Post Holdings, Inc. 4.625% 4/15/2030<sup>7</sup> |  | 444 | 384 |
| Procter & Gamble Company 3.00% 3/25/2030 |  | 338 | 310 |
| PT Indonesia Asahan Aluminium Tbk 5.71% 11/15/2023 |  | 960 | 963 |
| PT Indonesia Asahan Aluminium Tbk 5.45% 5/15/2030<sup>7</sup> |  | 500 | 477 |
| Qatar Petroleum 3.125% 7/12/2041<sup>7</sup> |  | 2895 | 2235 |
| Radiology Partners, Inc. 9.25% 2/1/2028<sup>7</sup> |  | 245 | 138 |
| Radiology Partners, Inc., Term Loan, (3-month USD-LIBOR + 4.25%) 8.639% 7/9/2025<sup>8,9</sup> |  | 10 | 8 |
| Range Resources Corp. 4.75% 2/15/2030<sup>7</sup> |  | 145 | 128 |
| Raptor Acquisition Corp. 4.875% 11/1/2026<sup>7</sup> |  | 180 | 160 |
| Real Hero Merger Sub 2, Inc. 6.25% 2/1/2029<sup>7</sup> |  | 25 | 17 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029<sup>7</sup> |  | 25 | 20 |
| Roller Bearing Company of America, Inc. 4.375% 10/15/2029<sup>7</sup> |  | 20 | 17 |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>7</sup> |  | 57 | 61 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027<sup>7</sup> |  | 40 | 32 |
| Royal Caribbean Cruises, Ltd. 9.25% 1/15/2029<sup>7</sup> |  | 160 | 165 |
| RP Escrow Issuer, LLC 5.25% 12/15/2025<sup>7</sup> |  | 190 | 145 |
| Russian Federation 4.25% 6/23/2027<sup>3</sup> |  | 1400 | 602 |
| Ryan Specialty Group, LLC 4.375% 2/1/2030<sup>7</sup> |  | 45 | 39 |
| Sabre GLBL, Inc. 11.25% 12/15/2027<sup>7</sup> |  | 75 | 77 |
| Sally Holdings, LLC 5.625% 12/1/2025 |  | 48 | 46 |
| Santander Holdings USA, Inc. 3.244% 10/5/2026 |  | 3750 | 3485 |
| Scentre Group 3.50% 2/12/2025<sup>7</sup> |  | 210 | 201 |
| Scentre Group 3.75% 3/23/2027<sup>7</sup> |  | 110 | 101 |
| Scientific Games Corp. 7.00% 5/15/2028<sup>7</sup> |  | 20 | 19 |
| Scientific Games Holdings, LP 6.625% 3/1/2030<sup>7</sup> |  | 46 | 39 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028<sup>7</sup> |  | 115 | 99 |
| Scotts Miracle-Gro Co. 4.50% 10/15/2029 |  | 140 | 114 |
| Scotts Miracle-Gro Co. 4.375% 2/1/2032 |  | 55 | 42 |
| Sealed Air Corp. 5.00% 4/15/2029<sup>7</sup> |  | 40 | 38 |
| ServiceNow, Inc. 1.40% 9/1/2030 |  | 1830 | 1404 |
| Silgan Holdings, Inc. 4.125% 2/1/2028 |  | 80 | 74 |
| Simmons Foods, Inc. 4.625% 3/1/2029<sup>7</sup> |  | 160 | 130 |
| Singapore Airlines, Ltd. 3.375% 1/19/2029 |  | 3710 | 3353 |
| Sirius XM Radio, Inc. 4.00% 7/15/2028<sup>7</sup> |  | 195 | 170 |
| Sirius XM Radio, Inc. 3.875% 9/1/2031<sup>7</sup> |  | 170 | 133 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028<sup>7</sup> |  | 25 | 24 |

---

218 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| SM Energy Co. 5.625% 6/1/2025 | USD | 55 | $53 |
| SM Energy Co. 6.50% 7/15/2028 |  | 45 | 43 |
| Sonic Automotive, Inc. 4.625% 11/15/2029<sup>7</sup> |  | 45 | 36 |
| Sonic Automotive, Inc. 4.875% 11/15/2031<sup>7</sup> |  | 20 | 16 |
| Southern California Edison Co. 2.85% 8/1/2029 |  | 200 | 174 |
| Southwestern Energy Co. 5.95% 1/23/2025<sup>1</sup> |  | 110 | 108 |
| Southwestern Energy Co. 7.75% 10/1/2027 |  | 20 | 20 |
| Southwestern Energy Co. 8.375% 9/15/2028 |  | 30 | 31 |
| Southwestern Energy Co. 5.375% 3/15/2030 |  | 135 | 123 |
| Southwestern Energy Co. 4.75% 2/1/2032 |  | 105 | 90 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029<sup>7</sup> |  | 17 | 18 |
| Sprint Corp. 7.625% 3/1/2026 |  | 130 | 137 |
| Sri Lanka (Democratic Socialist Republic of) 5.75% 4/18/2023<sup>3</sup> |  | 2890 | 917 |
| Stellantis Finance US, Inc. 1.711% 1/29/2027<sup>7</sup> |  | 1500 | 1289 |
| Stellantis Finance US, Inc. 5.625% 1/12/2028<sup>7</sup> |  | 2560 | 2539 |
| Stellantis Finance US, Inc. 2.691% 9/15/2031<sup>7</sup> |  | 453 | 347 |
| Stericycle, Inc. 3.875% 1/15/2029<sup>7</sup> |  | 110 | 96 |
| Studio City Finance, Ltd. 6.00% 7/15/2025<sup>7</sup> |  | 200 | 174 |
| Sunoco, LP 4.50% 5/15/2029 |  | 290 | 254 |
| Sunoco, LP 4.50% 4/30/2030 |  | 35 | 30 |
| Surgery Center Holdings 10.00% 4/15/2027<sup>7</sup> |  | 103 | 105 |
| SVB Financial Group 4.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)<sup>1</sup> |  | 12 | 8 |
| Swiss Re Finance (Luxembourg) SA 5.00% 4/2/2049 (5-year UST Yield Curve Rate T Note Constant Maturity + 3.582% on 4/2/2029)<sup>1,7</sup> |  | 800 | 740 |
| Talen Energy Corp. 7.25% 5/15/2027<sup>7</sup> |  | 205 | 213 |
| Tencent Holdings, Ltd. 3.24% 6/3/2050<sup>7</sup> |  | 3450 | 2188 |
| Tenet Healthcare Corp. 4.875% 1/1/2026<sup>7</sup> |  | 245 | 232 |
| Tenet Healthcare Corp. 6.125% 10/1/2028<sup>7</sup> |  | 25 | 22 |
| Teva Pharmaceutical Finance Co. BV 6.00% 4/15/2024 |  | 4600 | 4518 |
| Teva Pharmaceutical Finance Co. BV 7.125% 1/31/2025 |  | 3710 | 3695 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  | 110 | 96 |
| State of Texas, Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 10/1/2052 |  | 1780 | 1266 |
| Thermo Fisher Scientific, Inc. 4.80% 11/21/2027 |  | 630 | 633 |
| Tibco Software, Inc., Term Loan A, (3-month USD CME Term SOFR + 4.50%) 9.18% 9/29/2028<sup>8,9</sup> |  | 245 | 218 |
| T-Mobile US, Inc. 2.40% 3/15/2029 |  | 1079 | 913 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030 |  | 453 | 412 |
| TransDigm, Inc. 6.25% 3/15/2026<sup>7</sup> |  | 65 | 64 |
| TransDigm, Inc. 5.50% 11/15/2027 |  | 35 | 33 |
| TransDigm, Inc. 4.875% 5/1/2029 |  | 80 | 70 |
| Transocean Guardian, Ltd. 5.875% 1/15/2024<sup>7</sup> |  | 10 | 10 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027<sup>7</sup> |  | 66 | 64 |
| Treehouse Park Improvement Association No.1 - Anleihen 9.75% 12/1/2033<sup>6,7</sup> |  | 100 | 88 |
| Triumph Group, Inc. 6.25% 9/15/2024<sup>7</sup> |  | 35 | 33 |
| U.S. Treasury 0.125% 1/31/2023 |  | 12320 | 12282 |
| U.S. Treasury 2.625% 2/28/2023 |  | 6900 | 6882 |
| U.S. Treasury 1.875% 8/31/2024 |  | 4515 | 4320 |
| U.S. Treasury 3.25% 8/31/2024 |  | 1065 | 1043 |
| U.S. Treasury 0.25% 8/31/2025 |  | 20534 | 18475 |
| U.S. Treasury 2.875% 11/30/2025 |  | 5400 | 5198 |
| U.S. Treasury 4.00% 12/15/2025 |  | 1992 | 1980 |
| U.S. Treasury 0.375% 1/31/2026 |  | 14610 | 13004 |
| U.S. Treasury 0.75% 8/31/2026 |  | 4361 | 3862 |
| U.S. Treasury 0.875% 9/30/2026 |  | 11098 | 9858 |
| U.S. Treasury 1.125% 10/31/2026 |  | 1698 | 1519 |
| U.S. Treasury 2.50% 3/31/2027 |  | 9560 | 8975 |
| U.S. Treasury 3.875% 11/30/2027 |  | 105639 | 105067 |
| U.S. Treasury 1.625% 8/15/2029 |  | 10760 | 9336 |
| U.S. Treasury 1.375% 11/15/2031<sup>12</sup> |  | 25783 | 20999 |

---

American Funds Insurance Series 219

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| U.S. Treasury 1.875% 2/15/2032 | USD | 2000 | $1696 |
| U.S. Treasury 4.125% 11/15/2032 |  | 1169 | 1192 |
| U.S. Treasury 1.125% 5/15/2040 |  | 9170 | 5754 |
| U.S. Treasury 1.875% 2/15/2041<sup>12</sup> |  | 18740 | 13274 |
| U.S. Treasury 1.75% 8/15/2041 |  | 6050 | 4151 |
| U.S. Treasury 2.375% 2/15/2042 |  | 2872 | 2195 |
| U.S. Treasury 3.00% 8/15/2048 |  | 5045 | 4164 |
| U.S. Treasury 2.00% 8/15/2051 |  | 5755 | 3788 |
| U.S. Treasury 3.00% 8/15/2052<sup>12</sup> |  | 29749 | 24666 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051<sup>4</sup> |  | 3239 | 2089 |
| UBS Group AG 1.008% 7/30/2024 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.83% on 7/30/2023)<sup>1,7</sup> |  | 1950 | 1897 |
| UBS Group AG 4.49% 8/5/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.60% on 8/5/2024)<sup>1,7</sup> |  | 2265 | 2228 |
| UKG, Inc., Term Loan, (3-month USD-LIBOR + 5.25%) 8.998% 5/3/2027<sup>8,9</sup> |  | 75 | 69 |
| Ukraine 7.75% 9/1/2024<sup>3</sup> |  | 6210 | 1544 |
| Ukraine 7.75% 9/1/2026<sup>3</sup> |  | 1570 | 338 |
| Ukraine 6.876% 5/21/2031<sup>3</sup> |  | 1269 | 244 |
| Uniform Mortgage-Backed Security 5.00% 1/1/2053<sup>5,11</sup> |  | 2100 | 2070 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>5,11</sup> |  | 10300 | 10329 |
| Unisys Corp. 6.875% 11/1/2027<sup>7</sup> |  | 35 | 27 |
| United Natural Foods, Inc. 6.75% 10/15/2028<sup>7</sup> |  | 235 | 226 |
| United Rentals, Inc. 4.875% 1/15/2028 |  | 30 | 29 |
| United Rentals, Inc. 6.00% 12/15/2029<sup>7</sup> |  | 315 | 314 |
| Univision Communications, Inc. 4.50% 5/1/2029<sup>7</sup> |  | 240 | 201 |
| Univision Communications, Inc. 7.375% 6/30/2030<sup>7</sup> |  | 145 | 139 |
| US Foods, Inc. 4.625% 6/1/2030<sup>7</sup> |  | 35 | 31 |
| Vail Resorts, Inc. 6.25% 5/15/2025<sup>7</sup> |  | 120 | 120 |
| Valeant Pharmaceuticals International, Inc. 5.50% 11/1/2025<sup>7</sup> |  | 75 | 64 |
| Valvoline, Inc. 3.625% 6/15/2031<sup>7</sup> |  | 85 | 70 |
| Venator Finance SARL 9.50% 7/1/2025<sup>7</sup> |  | 185 | 134 |
| Venator Finance SARL 5.75% 7/15/2025<sup>7</sup> |  | 140 | 48 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029<sup>7</sup> |  | 35 | 31 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031<sup>7</sup> |  | 125 | 107 |
| Venture Global Calcasieu Pass, LLC 3.875% 11/1/2033<sup>7</sup> |  | 65 | 53 |
| Verizon Communications, Inc. 3.15% 3/22/2030 |  | 575 | 508 |
| Verizon Communications, Inc. 2.55% 3/21/2031 |  | 2100 | 1732 |
| VICI Properties, LP 4.375% 5/15/2025 |  | 1563 | 1520 |
| VICI Properties, LP 4.625% 12/1/2029<sup>7</sup> |  | 15 | 14 |
| VICI Properties, LP 4.125% 8/15/2030<sup>7</sup> |  | 420 | 368 |
| VZ Secured Financing BV 5.00% 1/15/2032<sup>7</sup> |  | 200 | 163 |
| W. R. Grace Holdings, LLC 5.625% 8/15/2029<sup>7</sup> |  | 20 | 16 |
| Warner Music Group 3.75% 12/1/2029<sup>7</sup> |  | 125 | 108 |
| Warner Music Group 3.875% 7/15/2030<sup>7</sup> |  | 135 | 117 |
| Warner Music Group 3.00% 2/15/2031<sup>7</sup> |  | 80 | 64 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032<sup>7</sup> |  | 917 | 758 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042<sup>7</sup> |  | 1928 | 1482 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028<sup>7</sup> |  | 140 | 138 |
| WASH Multifamily Acquisition, Inc. 5.75% 4/15/2026<sup>7</sup> |  | 320 | 302 |
| WEA Finance, LLC 3.75% 9/17/2024<sup>7</sup> |  | 535 | 506 |
| Weatherford International, Ltd. 11.00% 12/1/2024<sup>7</sup> |  | 5 | 5 |
| Weatherford International, Ltd. 6.50% 9/15/2028<sup>7</sup> |  | 65 | 64 |
| Weatherford International, Ltd. 8.625% 4/30/2030<sup>7</sup> |  | 65 | 63 |
| Wells Fargo & Company 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027)<sup>1</sup> |  | 5788 | 5370 |
| Wells Fargo & Company 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)<sup>1</sup> |  | 1600 | 1363 |
| WESCO Distribution, Inc. 7.125% 6/15/2025<sup>7</sup> |  | 180 | 183 |
| WESCO Distribution, Inc. 7.25% 6/15/2028<sup>7</sup> |  | 245 | 249 |
| Western Global Airlines, LLC 10.375% 8/15/2025<sup>7</sup> |  | 15 | 11 |
| Western Midstream Operating, LP 3.35% 2/1/2025<sup>1</sup> |  | 85 | 81 |
| Western Midstream Operating, LP 4.75% 8/15/2028 |  | 65 | 59 |
| Western Midstream Operating, LP 5.50% 2/1/2050<sup>1</sup> |  | 25 | 21 |

---

220 American Funds Insurance Series

Capital World Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. dollars (continued)** |  |  |  |
| Westpac Banking Corp. 2.894% 2/4/2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 2/4/2025)<sup>1</sup> | USD | 1250 | $1147 |
| WeWork Companies, LLC 5.00% 7/10/2025<sup>7</sup> |  | 50 | 17 |
| Wyndham Destinations, Inc. 6.625% 7/31/2026<sup>7</sup> |  | 65 | 64 |
| Wynn Las Vegas, LLC 4.25% 5/30/2023<sup>7</sup> |  | 38 | 38 |
| Wynn Resorts Finance, LLC 7.75% 4/15/2025<sup>7</sup> |  | 180 | 179 |
| Yahoo Holdings, Inc., Term Loan B, (1-month USD-LIBOR + 5.50%) 9.884% 9/1/2027<sup>8,9</sup> |  | 110 | 100 |
| Ziggo Bond Co. BV 5.125% 2/28/2030<sup>7</sup> |  | 200 | 162 |
| Ziggo Bond Finance BV 4.875% 1/15/2030<sup>7</sup> |  | 300 | 252 |
|  |  |  | **669959** |
| **Total bonds, notes & other debt instruments** (cost: $1,515,444,000) |  |  | **1337877** |

---

---

| | | |
|:---|:---|:---|
| **Investment funds 3.29%** | Shares |  |
| **U.S. dollars 3.29%** |  |  |
| Capital Group Central Corporate Bond Fund<sup>13</sup> | **5972524** | **48676** |
| **Total investment funds** (cost: $47,079,000) |  | **48676** |
| **Preferred securities 0.00%** |  |  |
| **U.S. dollars 0.00%** |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares<sup>6,7,14</sup> | **48** | **20** |
| **Total preferred securities** (cost: $49,000) |  | **20** |
| **Common stocks 0.01%** |  |  |
| **U.S. dollars 0.01%** |  |  |
| Constellation Oil Services Holding SA, Class B-1<sup>6,14</sup> | 1214969 | 134 |
| Bighorn Permian Resources, LLC<sup>6</sup> | 531 | —<sup>15</sup> |
| **Total common stocks** (cost: $0) |  | **134** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities 6.79%** | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) |  |
| **Commercial paper 6.78%** |  |  |  |  |
| DNB Bank ASA 3/2/2023<sup>7</sup> | 4.273% | USD | 35000 | 34740 |
| NRW.Bank 2/6/2023<sup>7</sup> | 4.192 |  | 31100 | 30957 |
| Oesterreich Kontrollbank 2/21/2023 | 4.245 |  | 35000 | 34773 |
|  |  |  |  | **100470** |
|  |  |  | Shares |  |
| **Money market investments 0.01%** |  |  |  |  |
| Capital Group Central Cash Fund 4.31%<sup>13,16</sup> |  |  | **1674** | **167** |
| **Total short-term securities** (cost: $100,664,000) |  |  |  | **100637** |
| **Total investment securities 100.37%** (cost: $1,663,236,000) |  |  |  | **1487344** |
| Other assets less liabilities (0.37)% |  |  |  | (5450) |
| **Net assets 100.00%** |  |  |  | $1481894 |

---

American Funds Insurance Series 221

Capital World Bond Fund (continued)

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 2 Year Euro-Schatz Futures | Long | 60 | March 2023 | USD | 6771 | $(87) |
| 2 Year U.S. Treasury Note Futures | Long | 130 | March 2023 |  | 26660 | 31 |
| 5 Year Euro-Bobl Futures | Long | 236 | March 2023 |  | 29242 | (987) |
| 5 Year U.S. Treasury Note Futures | Long | 1196 | March 2023 |  | 129084 | (139) |
| 10 Year Euro-Bund Futures | Long | 95 | March 2023 |  | 13518 | (880) |
| 10 Year Italy Government Bond Futures | Long | 71 | March 2023 |  | 8278 | (663) |
| 10 Year Japanese Government Bond Futures | Long | 9 | March 2023 |  | 9975 | (41) |
| 10 Year U.S. Treasury Note Futures | Long | 328 | March 2023 |  | 36833 | (201) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 175 | March 2023 |  | (20699) | 123 |
| 10 Year UK Gilt Futures | Short | 44 | March 2023 |  | (5314) | 335 |
| 20 Year U.S. Treasury Bond Futures | Long | 65 | March 2023 |  | 8147 | (131) |
| 30 Year Euro-Buxl Futures | Long | 57 | March 2023 |  | 8252 | (1530) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 170 | March 2023 |  | (22833) | 183 |
|  |  |  |  |  |  | $(3987) |

---

**Forward currency contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation<br> (depreciation)**<br> **at 12/31/2022<br> (000)** |
| KRW | 8431290 | USD | 6478 | Bank of America | 1/9/2023 | $219 |
| HUF | 1284310 | EUR | 3067 | UBS AG | 1/10/2023 | 145 |
| PLN | 20540 | EUR | 4330 | HSBC Bank | 1/10/2023 | 45 |
| DKK | 17400 | USD | 2465 | UBS AG | 1/10/2023 | 42 |
| PLN | 3330 | USD | 739 | UBS AG | 1/10/2023 | 20 |
| SEK | 23400 | USD | 2256 | UBS AG | 1/10/2023 | (12) |
| USD | 6519 | AUD | 9680 | HSBC Bank | 1/10/2023 | (75) |
| USD | 2058 | HUF | 818090 | UBS AG | 1/10/2023 | (127) |
| EUR | 6800 | USD | 7143 | Bank of America | 1/11/2023 | 142 |
| CNH | 154697 | USD | 22271 | Citibank | 1/11/2023 | 105 |
| USD | 1405 | EUR | 1320 | Bank of America | 1/11/2023 | (9) |
| USD | 2019 | EUR | 1900 | Bank of America | 1/11/2023 | (17) |
| SEK | 22100 | USD | 2141 | Bank of America | 1/11/2023 | (22) |
| NZD | 1070 | USD | 682 | Morgan Stanley | 1/12/2023 | (2) |
| JPY | 2083770 | USD | 15470 | Bank of America | 1/13/2023 | 438 |
| CNH | 146490 | USD | 21104 | JPMorgan Chase | 1/13/2023 | 89 |
| USD | 4476 | GBP | 3660 | Morgan Stanley | 1/13/2023 | 50 |
| PLN | 18110 | EUR | 3807 | UBS AG | 1/13/2023 | 50 |
| CHF | 2790 | USD | 2985 | UBS AG | 1/13/2023 | 37 |
| USD | 3682 | CAD | 4970 | Standard Chartered Bank | 1/13/2023 | 11 |
| EUR | 9477 | DKK | 70470 | BNP Paribas | 1/13/2023 | (1) |
| USD | 807 | NOK | 7930 | UBS AG | 1/13/2023 | (3) |
| USD | 19831 | MXN | 394043 | UBS AG | 1/13/2023 | (336) |
| EUR | 6752 | PLN | 31970 | HSBC Bank | 1/17/2023 | (48) |
| JPY | 6231228 | USD | 45941 | Standard Chartered Bank | 1/20/2023 | 1678 |
| JPY | 3696640 | USD | 27194 | Standard Chartered Bank | 1/20/2023 | 1056 |
| USD | 5044 | HUF | 1807090 | Bank of America | 1/20/2023 | 232 |
| JPY | 573812 | AUD | 6280 | HSBC Bank | 1/20/2023 | 105 |
| CAD | 16753 | USD | 12310 | Bank of America | 1/20/2023 | 64 |
| CZK | 124020 | USD | 5572 | Goldman Sachs | 1/20/2023 | (92) |
| USD | 14203 | DKK | 100190 | Bank of America | 1/20/2023 | (244) |

---

222 American Funds Insurance Series

Capital World Bond Fund (continued)

**Forward currency contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contract amount** | **Contract amount** | **Contract amount** | **Contract amount** | | | |
| **Currency purchased<br> (000)** | **Currency purchased<br> (000)** | **Currency sold<br> (000)** | **Currency sold<br> (000)** | <br>**Counterparty** | <br>**Settlement<br> date** | **Unrealized<br> appreciation**<br>**(depreciation)<br> at 12/31/2022<br> (000)** |
| USD | 5215 | CZK | 124020 | Morgan Stanley | 1/20/2023 | $(266) |
| HUF | 1807090 | USD | 5519 | Bank of America | 1/20/2023 | (706) |
| EUR | 23500 | USD | 24897 | Bank of America | 1/23/2023 | 303 |
| USD | 2087 | COP | 10038860 | Morgan Stanley | 1/23/2023 | 26 |
| CZK | 47290 | EUR | 1935 | UBS AG | 1/23/2023 | 14 |
| COP | 3594590 | USD | 753 | Bank of America | 1/23/2023 | (15) |
| USD | 10027 | EUR | 9480 | BNP Paribas | 1/23/2023 | (139) |
| THB | 84660 | USD | 2468 | Standard Chartered Bank | 1/26/2023 | (8) |
| JPY | 833790 | USD | 5779 | Standard Chartered Bank | 1/27/2023 | 599 |
| JPY | 1210240 | USD | 8936 | BNP Paribas | 1/27/2023 | 322 |
| JPY | 419350 | USD | 2897 | UBS AG | 1/27/2023 | 310 |
| JPY | 559100 | USD | 4149 | Goldman Sachs | 1/27/2023 | 128 |
| PLN | 24520 | USD | 5913 | BNP Paribas | 2/2/2023 | (333) |
| KRW | 2855970 | USD | 2161 | Standard Chartered Bank | 2/28/2023 | 110 |
| EUR | 14020 | USD | 14746 | Bank of America | 3/6/2023 | 330 |
| CNH | 64940 | USD | 9270 | Standard Chartered Bank | 3/6/2023 | 162 |
| JPY | 417300 | USD | 3097 | BNP Paribas | 3/6/2023 | 111 |
| KRW | 2388130 | USD | 1834 | HSBC Bank | 3/6/2023 | 65 |
|  |  |  |  |  |  | $4553 |

---

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | **Notional** | **Notional** | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** | **amount<br> (000)** | **amount<br> (000)** | **Value at**<br>**12/31/2022<br> (000)** | **Upfront<br> premium**<br>**paid<br> (000)** | **Unrealized<br> depreciation**<br>**at 12/31/2022<br> (000)** |
| 1.2475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/20/2023 | NZD | 4428 | $(70) | $— | $(70) |
| 1.234974% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/20/2023 |  | 37736 | (600) |  | (600) |
| 1.2375% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/26/2023 |  | 13908 | (231) |  | (231) |
| 1.264% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/27/2023 |  | 34764 | (572) |  | (572) |
| 1.26% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/30/2023 |  | 5734 | (95) |  | (95) |
| 1.28% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 8/31/2023 |  | 5734 | (95) |  | (95) |
| 1.30% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/3/2023 |  | 6295 | (106) |  | (106) |
| 1.4975% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/21/2023 |  | 11830 | (206) |  | (206) |
| 1.445% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/28/2023 |  | 11817 | (215) |  | (215) |
| 1.4475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/29/2023 |  | 12043 | (220) |  | (220) |
| 1.4475% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 9/30/2023 |  | 12093 | (221) |  | (221) |
| 1.5125% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/14/2023 |  | 10675 | (203) |  | (203) |
| 1.53% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/14/2023 |  | 12176 | (230) |  | (230) |
| 1.5625% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/15/2023 |  | 12163 | (228) |  | (228) |
| 1.59% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/18/2023 |  | 12163 | (228) |  | (228) |
| 1.62% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 10/19/2023 |  | 13521 | (252) |  | (252) |
| 2.2525% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/8/2023 |  | 17111 | (283) |  | (283) |
| 2.24% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/8/2023 |  | 17111 | (284) |  | (284) |
| 2.20% | Semi-annual | 3-month NZD-BBR-FRA | Quarterly | 11/9/2023 |  | 1440 | (24) |  | (24) |
| 2.495% | Annual | SONIA | Annual | 5/5/2024 | GBP | 7210 | (183) |  | (183) |
| 2.42% | Annual | SONIA | Annual | 5/5/2024 |  | 42400 | (1114) |  | (1114) |
| 2.363% | Annual | SONIA | Annual | 5/11/2024 |  | 40870 | (1101) |  | (1101) |
| 2.628% | Annual | SONIA | Annual | 7/28/2024 |  | 40530 | (1386) |  | (1386) |
| SONIA | Annual | 5.6325% | Annual | 9/25/2024 |  | 41140 | (468) |  | (468) |
| 6.255% | 28-day | 28-day MXN-TIIE | 28-day | 5/22/2026 | MXN | 47800 | (198) |  | (198) |

---

American Funds Insurance Series 223

Capital World Bond Fund (continued)

**Swap contracts** (continued)

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | **Notional** | **Notional** | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** | **amount<br> (000)** | **amount<br> (000)** | **Value at**<br>**12/31/2022<br> (000)** | **Upfront<br> premium**<br>**paid<br> (000)** | **Unrealized<br> depreciation**<br>**at 12/31/2022<br> (000)** |
| 6.19% | 28-day | 28-day MXN-TIIE | 28-day | 5/22/2026 | MXN | 48400 | $(205) | $— | $(205) |
| 6.16% | 28-day | 28-day MXN-TIIE | 28-day | 6/9/2026 |  | 58800 | (253) | —<sup>15</sup> | (253) |
| 6.5375% | 28-day | 28-day MXN-TIIE | 28-day | 6/17/2026 |  | 14000 | (52) |  | (52) |
| 6.50% | 28-day | 28-day MXN-TIIE | 28-day | 6/17/2026 |  | 13900 | (53) |  | (53) |
| 6.47% | 28-day | 28-day MXN-TIIE | 28-day | 6/17/2026 |  | 14200 | (55) |  | (55) |
| 6.55% | 28-day | 28-day MXN-TIIE | 28-day | 6/17/2026 |  | 43000 | (160) | —<sup>15</sup> | (160) |
| 6.55% | 28-day | 28-day MXN-TIIE | 28-day | 6/18/2026 |  | 14100 | (53) |  | (53) |
| 6.50% | 28-day | 28-day MXN-TIIE | 28-day | 6/18/2026 |  | 27800 | (106) |  | (106) |
| 6.64% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 62600 | (226) |  | (226) |
| 6.633% | 28-day | 28-day MXN-TIIE | 28-day | 6/25/2026 |  | 172500 | (623) |  | (623) |
| 7.59% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 |  | 28900 | (64) |  | (64) |
| 7.62% | 28-day | 28-day MXN-TIIE | 28-day | 10/29/2026 |  | 43375 | (94) |  | (94) |
| 7.52% | 28-day | 28-day MXN-TIIE | 28-day | 10/30/2026 |  | 89445 | (209) |  | (209) |
|  |  |  |  |  |  |  | $(10966) | $—<sup>15</sup> | $(10966) |

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> index** | **Financing<br> rate paid** | **Payment<br> frequency** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value at<br> 12/31/2022<br> (000)** | **Value at<br> 12/31/2022<br> (000)** | **Upfront<br> premium<br> paid<br> (000)** | **Unrealized<br> depreciation<br> at 12/31/2022<br> (000)** |
| CDX.EM.38 | 1.00% | Quarterly | 12/20/2027 |  | USD5,650 |  | $331 | $350 | $(19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Centrally cleared credit default swaps on credit indices — sell protection** |
| **Financing<br> rate received** | **Payment<br> frequency** | **Reference<br> index** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** **<sup>17</sup>**  | **Value at<br> 12/31/2022<br> (000)** | **Value at<br> 12/31/2022<br> (000)** **<sup>18</sup>**  | **Upfront<br> premium<br> (received)<br> paid<br> (000)** | **Unrealized<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5.00% | Quarterly | CDX.NA.HY.39 | 12/20/2027 |  | USD19,138 |  | $118 | $(134) | $252 |
| 1.00% | Quarterly | CDX.NA.IG.39 | 12/20/2027 |  | 97747 |  | 781 | 547 | 234 |
|  |  |  |  |  |  |  | $899 | $413 | $486 |

---

**Investments in affiliates<sup>13</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized gain<br> (000)** | **Net<br> unrealized<br> appreciation<br> (depreciation)<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Investment funds 3.29%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Corporate Bond Fund | $— | $47078 | $— | $— | $1598 | $48676 | $306 |
| **Short-term securities 0.01%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 0.01%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>16</sup> | 144080 | 923691 | 1067610 | 17 | (11) | 167 | 2751 |
| &nbsp;&nbsp;&nbsp;**Total 3.30%** |  |  |  | $17 | $1587 | $48843 | $3057 |

---

224 American Funds Insurance Series

Capital World Bond Fund (continued)

**Restricted securities<sup>2</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Acquisition<br> date** | **Cost<br> (000)** | **Value<br> (000)** | **Percent<br> of net<br> assets** |
| Goldman Sachs Group, Inc. 3.375% 3/27/2025 | 5/19/2020 | $5689 | $5327 | .36% |
| Goldman Sachs Group, Inc. 1.00% 3/18/2033 | 5/19/2021 | 3239 | 2091 | .14 |
| Bank of America Corp. 3.648% 3/31/2029 (3-month EUR-EURIBOR + 3.67% on 3/31/2028)<sup>1</sup> | 5/19/2020 | 6045 | 5177 | .35 |
| JPMorgan Chase & Co. 0.389% 2/24/2028 (3-month EUR-EURIBOR + 0.65% on 2/24/2027)<sup>1</sup> | 5/19/2020 | 3381 | 2944 | .20 |
| **Total** |  | $18354 | $15539 | 1.05% |

---

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $15,539,000, which represented 1.05% of the net assets of the fund.

<sup>3</sup> Scheduled interest and/or principal payment was not received.

<sup>4</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>5</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>6</sup> Value determined using significant unobservable inputs.

<sup>7</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $166,829,000, which represented 11.26% of the net assets of the fund.

<sup>8</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $1,760,000, which represented .12% of the net assets of the fund.

<sup>9</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>10</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.

<sup>11</sup> Purchased on a TBA basis.

<sup>12</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $12,515,000, which represented .84% of the net assets of the fund.

<sup>13</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>14</sup> Security did not produce income during the last 12 months.

<sup>15</sup> Amount less than one thousand.

<sup>16</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>17</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>18</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively.

**Key to abbreviations**

Assn. = Association

AUD = Australian dollars

BBR = Bank Base Rate

BRL = Brazilian reais

CAD = Canadian dollars

CHF = Swiss francs

CLP = Chilean pesos

CME = CME Group

CNH = Chinese yuan renminbi

CNY = Chinese yuan

COP = Colombian pesos

CZK = Czech korunas

DAC = Designated Activity Company

DKK = Danish kroner

DOP = Dominican pesos

EUR = Euros

EURIBOR = Euro Interbank Offered Rate

FRA = Forward Rate Agreement

GBP = British pounds

HUF = Hungarian forints

IDR = Indonesian rupiah

INR = Indian rupees

JPY = Japanese yen

KRW = South Korean won

LIBOR = London Interbank Offered Rate

MXN = Mexican pesos

MYR = Malaysian ringgits

NOK = Norwegian kroner

NZD = New Zealand dollars

PIK = Payment In Kind

PLN = Polish zloty

Ref. = Refunding

Rev. = Revenue

RON = Romanian leu

RUB = Russian rubles

SEK = Swedish kronor

SOFR = Secured Overnight Financing Rate

SONIA = Sterling Overnight Interbank Average Rate

TBA = To be announced

THB = Thai baht

TIIE = Equilibrium Interbank Interest Rate

UAH = Ukrainian hryvnia

USD = U.S. dollars

ZAR = South African rand

Refer to the notes to financial statements.

American Funds Insurance Series 225

American High-Income Trust

**Investment portfolio** December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 88.59%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans 88.51%** |  |  |  |
| **Energy 14.19%** |  |  |  |
| Aethon United BR, LP / Aethon United Finance Corp. 8.25% 2/15/2026<sup>1</sup> | USD | 295 | $293 |
| Altera Infrastructure, LP 8.50% 7/15/2023<sup>1,2,3</sup> |  | 2009 | 375 |
| Antero Midstream Partners, LP 5.375% 6/15/2029<sup>1</sup> |  | 570 | 522 |
| Antero Resources Corp. 7.625% 2/1/2029<sup>1</sup> |  | 244 | 246 |
| Antero Resources Corp. 5.375% 3/1/2030<sup>1</sup> |  | 230 | 214 |
| Apache Corp. 6.00% 1/15/2037 |  | 165 | 153 |
| Apache Corp. 5.10% 9/1/2040 |  | 695 | 578 |
| Apache Corp. 4.75% 4/15/2043 |  | 265 | 200 |
| Ascent Resources - Utica, LLC, Term Loan, (3-month USD-LIBOR + 9.00%) 10.00% 11/1/2025<sup>1,4,5</sup> |  | 228 | 242 |
| Ascent Resources Utica Holdings, LLC 7.00% 11/1/2026<sup>1</sup> |  | 2040 | 1982 |
| Ascent Resources Utica Holdings, LLC 9.00% 11/1/2027<sup>1</sup> |  | 170 | 210 |
| Ascent Resources Utica Holdings, LLC 8.25% 12/31/2028<sup>1</sup> |  | 271 | 266 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029<sup>1</sup> |  | 1245 | 1112 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031<sup>1</sup> |  | 1610 | 1409 |
| Blue Racer Midstream, LLC 7.625% 12/15/2025<sup>1</sup> |  | 496 | 493 |
| Bonanza Creek Energy, Inc. 5.00% 10/15/2026<sup>1</sup> |  | 905 | 829 |
| California Resources Corp. 7.125% 2/1/2026<sup>1</sup> |  | 390 | 375 |
| Callon Petroleum Co. 7.50% 6/15/2030<sup>1</sup> |  | 515 | 472 |
| Centennial Resource Production, LLC 6.875% 4/1/2027<sup>1</sup> |  | 440 | 416 |
| Cheniere Energy Partners, LP 4.50% 10/1/2029 |  | 938 | 846 |
| Cheniere Energy Partners, LP 4.00% 3/1/2031 |  | 413 | 352 |
| Cheniere Energy Partners, LP 3.25% 1/31/2032 |  | 615 | 490 |
| Cheniere Energy, Inc. 4.625% 10/15/2028 |  | 3831 | 3470 |
| Chesapeake Energy Corp. 4.875% 4/15/2022<sup>2</sup> |  | 4300 | 97 |
| Chesapeake Energy Corp. 5.50% 2/1/2026<sup>1</sup> |  | 1000 | 966 |
| Chesapeake Energy Corp. 5.875% 2/1/2029<sup>1</sup> |  | 1670 | 1585 |
| Chesapeake Energy Corp. 6.75% 4/15/2029<sup>1</sup> |  | 380 | 371 |
| CNX Midstream Partners, LP 4.75% 4/15/2030<sup>1</sup> |  | 280 | 230 |
| CNX Resources Corp. 7.25% 3/14/2027<sup>1</sup> |  | 1168 | 1161 |
| CNX Resources Corp. 6.00% 1/15/2029<sup>1</sup> |  | 1669 | 1538 |
| CNX Resources Corp. 7.375% 1/15/2031<sup>1</sup> |  | 856 | 822 |
| Comstock Resources, Inc. 6.75% 3/1/2029<sup>1</sup> |  | 910 | 823 |
| Comstock Resources, Inc. 5.875% 1/15/2030<sup>1</sup> |  | 770 | 663 |
| Constellation Oil Services Holding SA 4.00% PIK 12/31/2026<sup>6</sup> |  | 3114 | 1843 |
| Continental Resources, Inc. 5.75% 1/15/2031<sup>1</sup> |  | 365 | 341 |
| Crestwood Midstream Partners, LP 5.75% 4/1/2025 |  | 250 | 244 |
| Crestwood Midstream Partners, LP 5.625% 5/1/2027<sup>1</sup> |  | 290 | 270 |
| Crestwood Midstream Partners, LP 6.00% 2/1/2029<sup>1</sup> |  | 575 | 528 |
| Crestwood Midstream Partners, LP 8.00% 4/1/2029<sup>1</sup> |  | 1675 | 1669 |
| Devon Energy Corp. 5.875% 6/15/2028 |  | 202 | 205 |
| Devon Energy Corp. 4.50% 1/15/2030 |  | 493 | 460 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>1,5,6</sup> |  | 68 | 65 |
| Diamond Foreign Asset Co. 9.00% Cash 4/22/2027<sup>6</sup> |  | 62 | 58 |
| DT Midstream, Inc. 4.125% 6/15/2029<sup>1</sup> |  | 1503 | 1294 |
| DT Midstream, Inc. 4.375% 6/15/2031<sup>1</sup> |  | 832 | 699 |
| Energean Israel Finance, Ltd. 4.50% 3/30/2024<sup>1</sup> |  | 945 | 914 |
| Energean Israel Finance, Ltd. 4.875% 3/30/2026<sup>1</sup> |  | 1080 | 1002 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031<sup>1</sup> |  | 80 | 70 |
| Energean PLC 6.50% 4/30/2027<sup>1</sup> |  | 380 | 354 |
| EnLink Midstream Partners, LLC 5.625% 1/15/2028<sup>1</sup> |  | 445 | 425 |
| EQM Midstream Partners, LP 4.125% 12/1/2026 |  | 127 | 113 |
| EQM Midstream Partners, LP 7.50% 6/1/2027<sup>1</sup> |  | 405 | 397 |
| EQM Midstream Partners, LP 6.50% 7/1/2027<sup>1</sup> |  | 2345 | 2245 |
| EQM Midstream Partners, LP 5.50% 7/15/2028 |  | 881 | 789 |
| EQM Midstream Partners, LP 4.50% 1/15/2029<sup>1</sup> |  | 835 | 703 |
| EQM Midstream Partners, LP 7.50% 6/1/2030<sup>1</sup> |  | 1078 | 1040 |
| EQM Midstream Partners, LP 4.75% 1/15/2031<sup>1</sup> |  | 1645 | 1348 |
| EQM Midstream Partners, LP 6.50% 7/15/2048 |  | 910 | 684 |
| EQT Corp. 6.125% 2/1/2025<sup>7</sup> |  | 250 | 251 |
| EQT Corp. 5.00% 1/15/2029 |  | 290 | 273 |

---

226 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| EQT Corp. 7.25% 2/1/2030<sup>7</sup> | USD | 300 | $312 |
| EQT Corp. 3.625% 5/15/2031<sup>1</sup> |  | 500 | 424 |
| Genesis Energy, LP 5.625% 6/15/2024 |  | 120 | 116 |
| Genesis Energy, LP 6.50% 10/1/2025 |  | 1886 | 1805 |
| Genesis Energy, LP 6.25% 5/15/2026 |  | 320 | 293 |
| Genesis Energy, LP 8.00% 1/15/2027 |  | 2825 | 2672 |
| Genesis Energy, LP 7.75% 2/1/2028 |  | 87 | 80 |
| Harbour Energy PLC 5.50% 10/15/2026<sup>1</sup> |  | 1545 | 1387 |
| Harvest Midstream I, LP 7.50% 9/1/2028<sup>1</sup> |  | 1947 | 1863 |
| Hess Midstream Operations, LP 4.25% 2/15/2030<sup>1</sup> |  | 1300 | 1113 |
| Hess Midstream Operations, LP 5.50% 10/15/2030<sup>1</sup> |  | 630 | 577 |
| Hess Midstream Partners, LP 5.125% 6/15/2028<sup>1</sup> |  | 851 | 788 |
| Hilcorp Energy I, LP 6.25% 11/1/2028<sup>1</sup> |  | 145 | 132 |
| Hilcorp Energy I, LP 5.75% 2/1/2029<sup>1</sup> |  | 985 | 878 |
| Hilcorp Energy I, LP 6.00% 4/15/2030<sup>1</sup> |  | 922 | 821 |
| Hilcorp Energy I, LP 6.00% 2/1/2031<sup>1</sup> |  | 728 | 631 |
| Hilcorp Energy I, LP 6.25% 4/15/2032<sup>1</sup> |  | 835 | 722 |
| Holly Energy Partners, LP / Holly Energy Finance Corp. 6.375% 4/15/2027<sup>1</sup> |  | 220 | 216 |
| Holly Energy Partners, LP / Holly Energy Finance Corp. 5.00% 2/1/2028<sup>1</sup> |  | 260 | 237 |
| Howard Midstream Energy Partners, LLC 6.75% 1/15/2027<sup>1</sup> |  | 460 | 442 |
| Independence Energy Finance, LLC 7.25% 5/1/2026<sup>1</sup> |  | 500 | 472 |
| Kinetik Holdings, LP 5.875% 6/15/2030<sup>1</sup> |  | 500 | 470 |
| Murphy Oil Corp. 5.75% 8/15/2025 |  | 139 | 137 |
| Murphy Oil Corp. 5.625% 5/1/2027 |  | 135 | 131 |
| Murphy Oil Corp. 6.375% 7/15/2028 |  | 415 | 400 |
| Murphy Oil USA, Inc. 4.75% 9/15/2029 |  | 820 | 752 |
| Murphy Oil USA, Inc. 3.75% 2/15/2031<sup>1</sup> |  | 1065 | 878 |
| Nabors Industries, Inc. 7.375% 5/15/2027<sup>1</sup> |  | 1540 | 1494 |
| Nabors Industries, Ltd. 7.25% 1/15/2026<sup>1</sup> |  | 320 | 302 |
| Neptune Energy Group Holdings, Ltd. 6.625% 5/15/2025<sup>1</sup> |  | 1250 | 1216 |
| New Fortress Energy, Inc. 6.75% 9/15/2025<sup>1</sup> |  | 1625 | 1541 |
| New Fortress Energy, Inc. 6.50% 9/30/2026<sup>1</sup> |  | 4175 | 3885 |
| NGL Energy Operating, LLC 7.50% 2/1/2026<sup>1</sup> |  | 8670 | 7735 |
| NGL Energy Partners, LP 6.125% 3/1/2025 |  | 2054 | 1677 |
| NGL Energy Partners, LP 7.50% 4/15/2026 |  | 650 | 498 |
| Northern Oil and Gas, Inc. 8.125% 3/1/2028<sup>1</sup> |  | 1805 | 1735 |
| NorthRiver Midstream Finance, LP 5.625% 2/15/2026<sup>1</sup> |  | 625 | 593 |
| NuStar Logistics, LP 6.00% 6/1/2026 |  | 286 | 276 |
| Oasis Petroleum, Inc. 6.375% 6/1/2026<sup>1</sup> |  | 995 | 970 |
| Occidental Petroleum Corp. 5.875% 9/1/2025 |  | 710 | 709 |
| Occidental Petroleum Corp. 6.375% 9/1/2028 |  | 225 | 227 |
| Occidental Petroleum Corp. 8.875% 7/15/2030 |  | 650 | 735 |
| Occidental Petroleum Corp. 6.625% 9/1/2030 |  | 990 | 1025 |
| Occidental Petroleum Corp. 6.125% 1/1/2031 |  | 640 | 647 |
| Occidental Petroleum Corp. 6.45% 9/15/2036 |  | 125 | 128 |
| Occidental Petroleum Corp. 6.60% 3/15/2046 |  | 605 | 624 |
| Occidental Petroleum Corp. 4.20% 3/15/2048 |  | 165 | 127 |
| Parkland Corp. 4.625% 5/1/2030<sup>1</sup> |  | 835 | 692 |
| Patterson-UTI Energy, Inc. 5.15% 11/15/2029 |  | 80 | 72 |
| PDC Energy, Inc. 5.75% 5/15/2026 |  | 600 | 574 |
| Petrobras Global Finance Co. 6.75% 6/3/2050 |  | 288 | 252 |
| Petrobras Global Finance Co. 5.50% 6/10/2051 |  | 202 | 155 |
| Petróleos Mexicanos 6.875% 10/16/2025 |  | 350 | 343 |
| Petróleos Mexicanos 8.75% 6/2/2029 |  | 732 | 687 |
| Petrorio Luxembourg SARL 6.125% 6/9/2026<sup>1</sup> |  | 320 | 305 |
| Range Resources Corp. 4.875% 5/15/2025 |  | 362 | 344 |
| Range Resources Corp. 8.25% 1/15/2029 |  | 900 | 929 |
| Range Resources Corp. 4.75% 2/15/2030<sup>1</sup> |  | 970 | 856 |
| Rockies Express Pipeline, LLC 4.95% 7/15/2029<sup>1</sup> |  | 550 | 495 |
| Sabine Pass Liquefaction, LLC 4.50% 5/15/2030 |  | 371 | 345 |
| Sanchez Energy Corp. 7.25% 2/15/2023<sup>1,2</sup> |  | 739 | 12 |

---

American Funds Insurance Series 227

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Energy (continued)** |  |  |  |
| SM Energy Co. 5.625% 6/1/2025 | USD | 430 | $413 |
| Southwestern Energy Co. 5.95% 1/23/2025<sup>7</sup> |  | 215 | 212 |
| Southwestern Energy Co. 7.75% 10/1/2027 |  | 272 | 278 |
| Southwestern Energy Co. 8.375% 9/15/2028 |  | 565 | 584 |
| Southwestern Energy Co. 5.375% 2/1/2029 |  | 340 | 316 |
| Southwestern Energy Co. 5.375% 3/15/2030 |  | 2470 | 2257 |
| Southwestern Energy Co. 4.75% 2/1/2032 |  | 1225 | 1049 |
| Suburban Propane Partners, LP / Suburban Energy Finance Corp. 5.00% 6/1/2031<sup>1</sup> |  | 335 | 285 |
| Sunoco, LP 6.00% 4/15/2027 |  | 547 | 540 |
| Sunoco, LP 5.875% 3/15/2028 |  | 290 | 275 |
| Sunoco, LP 4.50% 5/15/2029 |  | 1735 | 1520 |
| Sunoco, LP 4.50% 4/30/2030 |  | 1680 | 1461 |
| Tallgrass Energy Partners, LP 7.50% 10/1/2025<sup>1</sup> |  | 85 | 86 |
| Targa Resources Partners, LP 6.50% 7/15/2027 |  | 133 | 134 |
| Targa Resources Partners, LP 6.875% 1/15/2029 |  | 915 | 924 |
| Targa Resources Partners, LP 5.50% 3/1/2030 |  | 802 | 756 |
| Targa Resources Partners, LP 4.875% 2/1/2031 |  | 695 | 629 |
| Transocean Guardian, Ltd. 5.875% 1/15/2024<sup>1</sup> |  | 92 | 90 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027<sup>1</sup> |  | 337 | 328 |
| Transocean, Inc. 6.125% 8/1/2025<sup>1</sup> |  | 178 | 174 |
| Transocean, Inc. 7.25% 11/1/2025<sup>1</sup> |  | 500 | 443 |
| Transocean, Inc. 11.50% 1/30/2027<sup>1</sup> |  | 95 | 95 |
| Transocean, Inc. 6.80% 3/15/2038 |  | 300 | 190 |
| USA Compression Partners, LP 6.875% 4/1/2026 |  | 669 | 643 |
| USA Compression Partners, LP 6.875% 9/1/2027 |  | 247 | 231 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031<sup>1</sup> |  | 2795 | 2386 |
| Venture Global Calcasieu Pass, LLC 3.875% 11/1/2033<sup>1</sup> |  | 650 | 532 |
| Weatherford International, Ltd. 11.00% 12/1/2024<sup>1</sup> |  | 185 | 189 |
| Weatherford International, Ltd. 6.50% 9/15/2028<sup>1</sup> |  | 2130 | 2091 |
| Weatherford International, Ltd. 8.625% 4/30/2030<sup>1</sup> |  | 3485 | 3353 |
| Western Gas Partners, LP 4.50% 3/1/2028 |  | 979 | 904 |
| Western Midstream Operating, LP 3.35% 2/1/2025<sup>7</sup> |  | 369 | 350 |
| Western Midstream Operating, LP 4.75% 8/15/2028 |  | 160 | 146 |
| Western Midstream Operating, LP 4.30% 2/1/2030<sup>7</sup> |  | 480 | 420 |
| Western Midstream Operating, LP 5.50% 2/1/2050<sup>7</sup> |  | 770 | 636 |
|  |  |  | **117959** |
| **Consumer discretionary 12.43%** |  |  |  |
| Adient Global Holdings, Ltd. 4.875% 8/15/2026<sup>1</sup> |  | 525 | 490 |
| Affinity Gaming 6.875% 12/15/2027<sup>1</sup> |  | 1040 | 883 |
| Allied Universal Holdco, LLC 6.625% 7/15/2026<sup>1</sup> |  | 508 | 466 |
| Allied Universal Holdco, LLC 9.75% 7/15/2027<sup>1</sup> |  | 716 | 624 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028<sup>1</sup> |  | 490 | 406 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029<sup>1</sup> |  | 2790 | 2029 |
| Asbury Automotive Group, Inc. 4.50% 3/1/2028 |  | 250 | 220 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029<sup>1</sup> |  | 1545 | 1304 |
| Asbury Automotive Group, Inc. 5.00% 2/15/2032<sup>1</sup> |  | 1070 | 882 |
| Atlas LuxCo 4 SARL 4.625% 6/1/2028<sup>1</sup> |  | 280 | 227 |
| AutoNation, Inc. 2.40% 8/1/2031 |  | 610 | 440 |
| Bath & Body Works, Inc. 6.625% 10/1/2030<sup>1</sup> |  | 540 | 508 |
| Bath & Body Works, Inc. 6.875% 11/1/2035 |  | 1316 | 1172 |
| Bath & Body Works, Inc. 6.75% 7/1/2036 |  | 655 | 577 |
| Beazer Homes USA, Inc. 5.875% 10/15/2027 |  | 540 | 473 |
| Boyd Gaming Corp. 4.75% 12/1/2027 |  | 441 | 411 |
| Boyd Gaming Corp. 4.75% 6/15/2031<sup>1</sup> |  | 345 | 301 |
| Boyne USA, Inc. 4.75% 5/15/2029<sup>1</sup> |  | 570 | 505 |
| Caesars Entertainment, Inc. 6.25% 7/1/2025<sup>1</sup> |  | 1085 | 1056 |
| Caesars Entertainment, Inc. 8.125% 7/1/2027<sup>1</sup> |  | 665 | 655 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029<sup>1</sup> |  | 560 | 457 |
| Caesars Resort Collection, LLC 5.75% 7/1/2025<sup>1</sup> |  | 345 | 338 |

---

228 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Carnival Corp. 10.50% 2/1/2026<sup>1</sup> | USD | 1405 | $1414 |
| Carnival Corp. 4.00% 8/1/2028<sup>1</sup> |  | 3000 | 2452 |
| Carnival Corp. 6.00% 5/1/2029<sup>1</sup> |  | 655 | 438 |
| Carnival Corp. 10.50% 6/1/2030<sup>1</sup> |  | 100 | 81 |
| CDI Escrow Issuer, Inc. 5.75% 4/1/2030<sup>1</sup> |  | 615 | 552 |
| CEC Entertainment, Inc. 6.75% 5/1/2026<sup>1</sup> |  | 320 | 298 |
| Dana, Inc. 4.25% 9/1/2030 |  | 200 | 161 |
| Dana, Inc. 4.50% 2/15/2032 |  | 375 | 300 |
| Empire Communities Corp. 7.00% 12/15/2025<sup>1</sup> |  | 475 | 430 |
| Empire Resorts, Inc. 7.75% 11/1/2026<sup>1</sup> |  | 470 | 378 |
| Everi Holdings, Inc. 5.00% 7/15/2029<sup>1</sup> |  | 95 | 82 |
| Fertitta Entertainment, Inc. 4.625% 1/15/2029<sup>1</sup> |  | 1260 | 1068 |
| Fertitta Entertainment, Inc. 6.75% 1/15/2030<sup>1</sup> |  | 4090 | 3307 |
| First Student Bidco, Inc. 4.00% 7/31/2029<sup>1</sup> |  | 2135 | 1769 |
| Ford Motor Co. 5.291% 12/8/2046 |  | 70 | 54 |
| Ford Motor Credit Company, LLC 5.125% 6/16/2025 |  | 2215 | 2134 |
| Ford Motor Credit Company, LLC 3.375% 11/13/2025 |  | 465 | 421 |
| Ford Motor Credit Company, LLC 4.542% 8/1/2026 |  | 1460 | 1348 |
| Ford Motor Credit Company, LLC 2.70% 8/10/2026 |  | 350 | 304 |
| Ford Motor Credit Company, LLC 4.271% 1/9/2027 |  | 525 | 476 |
| Ford Motor Credit Company, LLC 4.95% 5/28/2027 |  | 370 | 346 |
| Ford Motor Credit Company, LLC 4.125% 8/17/2027 |  | 835 | 749 |
| Ford Motor Credit Company, LLC 3.815% 11/2/2027 |  | 880 | 775 |
| Ford Motor Credit Company, LLC 2.90% 2/16/2028 |  | 300 | 248 |
| Ford Motor Credit Company, LLC 5.113% 5/3/2029 |  | 200 | 182 |
| Ford Motor Credit Company, LLC 4.00% 11/13/2030 |  | 570 | 469 |
| Group 1 Automotive, Inc. 4.00% 8/15/2028<sup>1</sup> |  | 615 | 522 |
| Hanesbrands, Inc. 4.625% 5/15/2024<sup>1</sup> |  | 1945 | 1887 |
| Hanesbrands, Inc. 4.875% 5/15/2026<sup>1</sup> |  | 1624 | 1454 |
| Hilton Grand Vacations Borrower 5.00% 6/1/2029<sup>1</sup> |  | 591 | 509 |
| Hilton Worldwide Holdings, Inc. 3.75% 5/1/2029<sup>1</sup> |  | 200 | 173 |
| Hilton Worldwide Holdings, Inc. 4.875% 1/15/2030 |  | 408 | 370 |
| Hilton Worldwide Holdings, Inc. 4.00% 5/1/2031<sup>1</sup> |  | 1520 | 1275 |
| International Game Technology PLC 6.50% 2/15/2025<sup>1</sup> |  | 911 | 918 |
| International Game Technology PLC 4.125% 4/15/2026<sup>1</sup> |  | 915 | 855 |
| International Game Technology PLC 5.25% 1/15/2029<sup>1</sup> |  | 4120 | 3846 |
| Jacobs Entertainment, Inc. 6.75% 2/15/2029<sup>1</sup> |  | 505 | 456 |
| KB Home 6.875% 6/15/2027 |  | 330 | 333 |
| KB Home 7.25% 7/15/2030 |  | 330 | 321 |
| Kontoor Brands, Inc. 4.125% 11/15/2029<sup>1</sup> |  | 370 | 303 |
| Las Vegas Sands Corp. 3.20% 8/8/2024 |  | 400 | 378 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029<sup>1</sup> |  | 2565 | 2057 |
| Levi Strauss & Co. 3.50% 3/1/2031<sup>1</sup> |  | 430 | 342 |
| Lindblad Expeditions, LLC 6.75% 2/15/2027<sup>1</sup> |  | 205 | 186 |
| Lithia Motors, Inc. 4.625% 12/15/2027<sup>1</sup> |  | 270 | 244 |
| Lithia Motors, Inc. 3.875% 6/1/2029<sup>1</sup> |  | 1165 | 959 |
| Lithia Motors, Inc. 4.375% 1/15/2031<sup>1</sup> |  | 830 | 677 |
| LSF9 Atlantis Holdings, LLC / Victra Finance Corp. 7.75% 2/15/2026<sup>1</sup> |  | 335 | 297 |
| M.D.C. Holdings, Inc. 6.00% 1/15/2043 |  | 573 | 468 |
| Marriott International, Inc. 3.50% 10/15/2032 |  | 470 | 392 |
| Marriott International, Inc. 2.75% 10/15/2033 |  | 430 | 329 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029<sup>1</sup> |  | 370 | 307 |
| Mattel, Inc. 3.75% 4/1/2029<sup>1</sup> |  | 490 | 431 |
| Melco International Development, Ltd. 4.875% 6/6/2025<sup>1</sup> |  | 440 | 405 |
| Melco International Development, Ltd. 5.75% 7/21/2028<sup>1</sup> |  | 595 | 498 |
| Melco International Development, Ltd. 5.375% 12/4/2029<sup>1</sup> |  | 1221 | 982 |
| Melco Resorts Finance, Ltd. 5.25% 4/26/2026<sup>1</sup> |  | 300 | 264 |
| Merlin Entertainment 5.75% 6/15/2026<sup>1</sup> |  | 492 | 461 |
| MGM Resorts International 6.00% 3/15/2023 |  | 281 | 281 |
| MGM Resorts International 5.50% 4/15/2027 |  | 401 | 374 |
| Mohegan Gaming & Entertainment 8.00% 2/1/2026<sup>1</sup> |  | 370 | 347 |

---

American Funds Insurance Series 229

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Motel 6 Operating, LP, Term Loan B, (1-month USD-LIBOR + 5.00%) 9.318% 9/9/2026<sup>4,5</sup> | USD | 512 | $506 |
| NCL Corp., Ltd. 3.625% 12/15/2024<sup>1</sup> |  | 300 | 257 |
| NCL Corp., Ltd. 5.875% 3/15/2026<sup>1</sup> |  | 405 | 319 |
| NCL Corp., Ltd. 5.875% 2/15/2027<sup>1</sup> |  | 1510 | 1310 |
| NCL Corp., Ltd. 7.75% 2/15/2029<sup>1</sup> |  | 360 | 271 |
| Neiman Marcus Group, LLC 7.125% 4/1/2026<sup>1</sup> |  | 1650 | 1549 |
| Panther BF Aggregator 2, LP 6.25% 5/15/2026<sup>1</sup> |  | 140 | 137 |
| Panther BF Aggregator 2, LP 8.50% 5/15/2027<sup>1</sup> |  | 455 | 445 |
| Party City Holdings, Inc. (6-month USD-LIBOR + 5.00%) 8.061% 7/15/2025<sup>1,5</sup> |  | 240 | 65 |
| Party City Holdings, Inc. 8.75% 2/15/2026<sup>1</sup> |  | 7577 | 2197 |
| Party City Holdings, Inc. 6.625% 8/1/2026<sup>1</sup> |  | 500 | 13 |
| Penske Automotive Group, Inc. 3.75% 6/15/2029 |  | 670 | 545 |
| PetSmart, Inc. 4.75% 2/15/2028<sup>1</sup> |  | 710 | 644 |
| PetSmart, Inc. 7.75% 2/15/2029<sup>1</sup> |  | 1190 | 1120 |
| Premier Entertainment Sub, LLC 5.625% 9/1/2029<sup>1</sup> |  | 1065 | 787 |
| Premier Entertainment Sub, LLC 5.875% 9/1/2031<sup>1</sup> |  | 375 | 266 |
| QVC, Inc. 4.85% 4/1/2024 |  | 75 | 70 |
| QVC, Inc. 4.375% 9/1/2028 |  | 121 | 73 |
| Raptor Acquisition Corp. 4.875% 11/1/2026<sup>1</sup> |  | 550 | 489 |
| Real Hero Merger Sub 2, Inc. 6.25% 2/1/2029<sup>1</sup> |  | 480 | 330 |
| Royal Caribbean Cruises, Ltd. 11.50% 6/1/2025<sup>1</sup> |  | 2371 | 2548 |
| Royal Caribbean Cruises, Ltd. 4.25% 7/1/2026<sup>1</sup> |  | 1820 | 1473 |
| Royal Caribbean Cruises, Ltd. 5.50% 8/31/2026<sup>1</sup> |  | 715 | 602 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027<sup>1</sup> |  | 1365 | 1107 |
| Royal Caribbean Cruises, Ltd. 3.70% 3/15/2028 |  | 1370 | 1009 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028<sup>1</sup> |  | 710 | 568 |
| Royal Caribbean Cruises, Ltd. 8.25% 1/15/2029<sup>1</sup> |  | 1775 | 1786 |
| Royal Caribbean Cruises, Ltd. 9.25% 1/15/2029<sup>1</sup> |  | 1010 | 1039 |
| Sally Holdings, LLC 5.625% 12/1/2025 |  | 1030 | 994 |
| Sands China, Ltd. 5.625% 8/8/2025 |  | 275 | 263 |
| Sands China, Ltd. 5.90% 8/8/2028 |  | 200 | 188 |
| Sands China, Ltd. 4.875% 6/18/2030 |  | 550 | 484 |
| Sands China, Ltd. 3.75% 8/8/2031<sup>7</sup> |  | 560 | 441 |
| Scientific Games Corp. 8.625% 7/1/2025<sup>1</sup> |  | 1215 | 1242 |
| Scientific Games Corp. 7.00% 5/15/2028<sup>1</sup> |  | 985 | 941 |
| Scientific Games Corp. 7.25% 11/15/2029<sup>1</sup> |  | 960 | 923 |
| Scientific Games Holdings, LP 6.625% 3/1/2030<sup>1</sup> |  | 845 | 715 |
| Sonic Automotive, Inc. 4.625% 11/15/2029<sup>1</sup> |  | 1565 | 1255 |
| Sonic Automotive, Inc. 4.875% 11/15/2031<sup>1</sup> |  | 2180 | 1717 |
| Studio City Finance, Ltd. 6.00% 7/15/2025<sup>1</sup> |  | 690 | 599 |
| Studio City Finance, Ltd. 5.00% 1/15/2029<sup>1</sup> |  | 550 | 407 |
| Tempur Sealy International, Inc. 4.00% 4/15/2029<sup>1</sup> |  | 435 | 366 |
| The Gap, Inc. 3.625% 10/1/2029<sup>1</sup> |  | 170 | 120 |
| The Gap, Inc. 3.875% 10/1/2031<sup>1</sup> |  | 108 | 76 |
| The Home Co., Inc. 7.25% 10/15/2025<sup>1</sup> |  | 660 | 568 |
| Travel + Leisure Co. 6.00% 4/1/2027 |  | 205 | 195 |
| Travel + Leisure Co. 4.50% 12/1/2029<sup>1</sup> |  | 1155 | 943 |
| Universal Entertainment Corp. 8.50% 12/11/2024<sup>1</sup> |  | 2945 | 2751 |
| Vail Resorts, Inc. 6.25% 5/15/2025<sup>1</sup> |  | 315 | 316 |
| VICI Properties, LP 4.25% 12/1/2026<sup>1</sup> |  | 462 | 432 |
| VICI Properties, LP / VICI Note Co., Inc. 5.625% 5/1/2024<sup>1</sup> |  | 447 | 443 |
| WASH Multifamily Acquisition, Inc. 5.75% 4/15/2026<sup>1</sup> |  | 1245 | 1175 |
| Wheel Pros, Inc. 6.50% 5/15/2029<sup>1</sup> |  | 1280 | 454 |
| Wheel Pros, Inc., Term Loan, (3-month USD-LIBOR + 4.50%) 8.825% 5/11/2028<sup>4,5</sup> |  | 948 | 647 |
| Wyndham Destinations, Inc. 6.625% 7/31/2026<sup>1</sup> |  | 695 | 681 |
| Wyndham Destinations, Inc. 4.625% 3/1/2030<sup>1</sup> |  | 400 | 332 |
| Wyndham Worldwide Corp. 4.375% 8/15/2028<sup>1</sup> |  | 765 | 688 |
| Wynn Las Vegas, LLC 4.25% 5/30/2023<sup>1</sup> |  | 861 | 850 |
| Wynn Macau, Ltd. 5.625% 8/26/2028<sup>1</sup> |  | 900 | 771 |

---

230 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Consumer discretionary (continued)** |  |  |  |
| Wynn Resorts Finance, LLC 7.75% 4/15/2025<sup>1</sup> | USD | 494 | $492 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029<sup>1</sup> |  | 482 | 414 |
| Yahoo Holdings, Inc., Term Loan B, (1-month USD-LIBOR + 5.50%) 9.884% 9/1/2027<sup>4,5</sup> |  | 465 | 421 |
|  |  |  | **103390** |
| **Communication services 10.50%** |  |  |  |
| Altice France Holding SA 10.50% 5/15/2027<sup>1</sup> |  | 1650 | 1262 |
| Altice France SA 5.125% 7/15/2029<sup>1</sup> |  | 1677 | 1260 |
| Brightstar Escrow Corp. 9.75% 10/15/2025<sup>1</sup> |  | 140 | 129 |
| Cablevision Systems Corp. 5.375% 2/1/2028<sup>1</sup> |  | 457 | 369 |
| CCO Holdings, LLC 5.00% 2/1/2028<sup>1</sup> |  | 586 | 533 |
| CCO Holdings, LLC 6.375% 9/1/2029<sup>1</sup> |  | 300 | 283 |
| CCO Holdings, LLC 4.75% 3/1/2030<sup>1</sup> |  | 3437 | 2972 |
| CCO Holdings, LLC 4.50% 8/15/2030<sup>1</sup> |  | 3029 | 2509 |
| CCO Holdings, LLC 4.25% 2/1/2031<sup>1</sup> |  | 3065 | 2465 |
| CCO Holdings, LLC 4.75% 2/1/2032<sup>1</sup> |  | 1225 | 996 |
| CCO Holdings, LLC 4.50% 5/1/2032 |  | 1024 | 817 |
| CCO Holdings, LLC 4.50% 6/1/2033<sup>1</sup> |  | 1330 | 1023 |
| CCO Holdings, LLC 4.25% 1/15/2034<sup>1</sup> |  | 2040 | 1510 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.50% 5/1/2026<sup>1</sup> |  | 102 | 99 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 5.375% 6/1/2029<sup>1</sup> |  | 360 | 326 |
| CCO Holdings, LLC and CCO Holdings Capital Corp. 2.80% 4/1/2031 |  | 140 | 109 |
| Centerfield Media Parent, Inc. 6.625% 8/1/2026<sup>1</sup> |  | 960 | 616 |
| Cinemark USA, Inc. 5.875% 3/15/2026<sup>1</sup> |  | 278 | 232 |
| Clear Channel Worldwide Holdings, Inc. 7.75% 4/15/2028<sup>1</sup> |  | 570 | 417 |
| Clear Channel Worldwide Holdings, Inc. 7.50% 6/1/2029<sup>1</sup> |  | 315 | 232 |
| Cogent Communications Group, Inc. 3.50% 5/1/2026<sup>1</sup> |  | 450 | 409 |
| Connect Finco SARL 6.75% 10/1/2026<sup>1</sup> |  | 725 | 673 |
| Consolidated Communications, Inc. 5.00% 10/1/2028<sup>1</sup> |  | 225 | 166 |
| CSC Holdings, LLC 6.50% 2/1/2029<sup>1</sup> |  | 600 | 492 |
| CSC Holdings, LLC 3.375% 2/15/2031<sup>1</sup> |  | 700 | 458 |
| Diamond Sports Group, LLC 5.375% 8/15/2026<sup>1</sup> |  | 503 | 60 |
| Diamond Sports Group, LLC 6.625% 8/15/2027<sup>1</sup> |  | 1056 | 12 |
| DIRECTV Financing, LLC 5.875% 8/15/2027<sup>1</sup> |  | 3010 | 2699 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD-LIBOR + 5.00%) 9.384% 8/2/2027<sup>4,5</sup> |  | 1655 | 1613 |
| DISH Network Corp. 11.75% 11/15/2027<sup>1</sup> |  | 3950 | 4073 |
| Embarq Corp. 7.995% 6/1/2036 |  | 2867 | 1339 |
| Epicor Software Corp., Term Loan, (3-month USD-LIBOR + 7.75%) 12.134% 7/31/2028<sup>4,5</sup> |  | 365 | 361 |
| Frontier Communications Corp. 5.875% 10/15/2027<sup>1</sup> |  | 1455 | 1354 |
| Frontier Communications Corp. 5.00% 5/1/2028<sup>1</sup> |  | 3780 | 3304 |
| Frontier Communications Corp. 6.75% 5/1/2029<sup>1</sup> |  | 1990 | 1649 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029 |  | 1390 | 1077 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030<sup>1</sup> |  | 750 | 590 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030<sup>1</sup> |  | 970 | 988 |
| Gray Escrow II, Inc. 5.375% 11/15/2031<sup>1</sup> |  | 925 | 668 |
| Gray Television, Inc. 5.875% 7/15/2026<sup>1</sup> |  | 203 | 181 |
| Gray Television, Inc. 7.00% 5/15/2027<sup>1</sup> |  | 1018 | 904 |
| Gray Television, Inc. 4.75% 10/15/2030<sup>1</sup> |  | 397 | 288 |
| iHeartCommunications, Inc. 5.25% 8/15/2027<sup>1</sup> |  | 1995 | 1693 |
| iHeartCommunications, Inc. 4.75% 1/15/2028<sup>1</sup> |  | 250 | 204 |
| Iliad Holding SAS 6.50% 10/15/2026<sup>1</sup> |  | 630 | 585 |
| Kantar Group, LLC, Term Loan B2, (3-month USD-LIBOR + 4.50%) 9.23% 12/4/2026<sup>4,5</sup> |  | 385 | 357 |
| Lamar Media Corp. 3.75% 2/15/2028 |  | 61 | 55 |
| Lamar Media Corp. 4.875% 1/15/2029 |  | 300 | 277 |
| Lamar Media Corp. 4.00% 2/15/2030 |  | 260 | 228 |
| Level 3 Financing, Inc. 3.75% 7/15/2029<sup>1</sup> |  | 855 | 616 |

---

American Funds Insurance Series 231

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Communication services (continued)** |  |  |  |
| Ligado Networks, LLC 15.50% PIK 11/1/2023<sup>1,6</sup> | USD | 2149 | $701 |
| Live Nation Entertainment, Inc. 4.75% 10/15/2027<sup>1</sup> |  | 250 | 223 |
| Live Nation Entertainment, Inc. 3.75% 1/15/2028<sup>1</sup> |  | 425 | 363 |
| Match Group, Inc. 4.625% 6/1/2028<sup>1</sup> |  | 308 | 275 |
| Match Group, Inc. 5.625% 2/15/2029<sup>1</sup> |  | 300 | 280 |
| McGraw-Hill Education, Inc. 5.75% 8/1/2028<sup>1</sup> |  | 520 | 438 |
| Midas OpCo Holdings, LLC 5.625% 8/15/2029<sup>1</sup> |  | 3110 | 2570 |
| Netflix, Inc. 4.875% 4/15/2028 |  | 310 | 300 |
| News Corp. 3.875% 5/15/2029<sup>1</sup> |  | 1620 | 1408 |
| News Corp. 5.125% 2/15/2032<sup>1</sup> |  | 1760 | 1604 |
| Nexstar Broadcasting, Inc. 4.75% 11/1/2028<sup>1</sup> |  | 2910 | 2522 |
| Nexstar Escrow Corp. 5.625% 7/15/2027<sup>1</sup> |  | 324 | 298 |
| Scripps Escrow II, Inc. 3.875% 1/15/2029<sup>1</sup> |  | 750 | 603 |
| Sinclair Television Group, Inc. 4.125% 12/1/2030<sup>1</sup> |  | 710 | 533 |
| Sirius XM Radio, Inc. 3.125% 9/1/2026<sup>1</sup> |  | 1600 | 1423 |
| Sirius XM Radio, Inc. 4.00% 7/15/2028<sup>1</sup> |  | 2385 | 2080 |
| Sirius XM Radio, Inc. 4.125% 7/1/2030<sup>1</sup> |  | 445 | 368 |
| Sirius XM Radio, Inc. 3.875% 9/1/2031<sup>1</sup> |  | 2590 | 2026 |
| Sprint Corp. 7.625% 3/1/2026 |  | 480 | 506 |
| Sprint Corp. 6.875% 11/15/2028 |  | 1656 | 1723 |
| Sprint Corp. 8.75% 3/15/2032 |  | 1751 | 2088 |
| TEGNA, Inc. 5.00% 9/15/2029 |  | 366 | 348 |
| T-Mobile US, Inc. 3.375% 4/15/2029 |  | 860 | 759 |
| Univision Communications, Inc. 5.125% 2/15/2025<sup>1</sup> |  | 3195 | 3049 |
| Univision Communications, Inc. 6.625% 6/1/2027<sup>1</sup> |  | 3050 | 2949 |
| Univision Communications, Inc. 4.50% 5/1/2029<sup>1</sup> |  | 4500 | 3772 |
| Univision Communications, Inc. 7.375% 6/30/2030<sup>1</sup> |  | 935 | 895 |
| Univision Communications, Inc., Term Loan, (3-month USD CME Term SOFR + 4.25%) 8.83% 6/24/2029<sup>4,5</sup> |  | 69 | 69 |
| UPC Broadband Finco BV 4.875% 7/15/2031<sup>1</sup> |  | 430 | 359 |
| Virgin Media O2 4.25% 1/31/2031<sup>1</sup> |  | 1975 | 1603 |
| Virgin Media Secured Finance PLC 4.50% 8/15/2030<sup>1</sup> |  | 990 | 829 |
| VZ Secured Financing BV 5.00% 1/15/2032<sup>1</sup> |  | 1060 | 863 |
| Warner Music Group 3.75% 12/1/2029<sup>1</sup> |  | 1645 | 1417 |
| Warner Music Group 3.875% 7/15/2030<sup>1</sup> |  | 780 | 673 |
| Warner Music Group 3.00% 2/15/2031<sup>1</sup> |  | 225 | 180 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032<sup>1</sup> |  | 298 | 246 |
| Ziggo Bond Co. BV 5.125% 2/28/2030<sup>1</sup> |  | 419 | 339 |
| Ziggo Bond Finance BV 4.875% 1/15/2030<sup>1</sup> |  | 1350 | 1132 |
|  |  |  | **87346** |
| **Materials 9.94%** |  |  |  |
| Alcoa Nederland Holding BV 5.50% 12/15/2027<sup>1</sup> |  | 510 | 492 |
| Alcoa Nederland Holding BV 4.125% 3/31/2029<sup>1</sup> |  | 430 | 382 |
| Allegheny Technologies, Inc. 5.875% 12/1/2027 |  | 180 | 172 |
| Allegheny Technologies, Inc. 4.875% 10/1/2029 |  | 1575 | 1394 |
| Allegheny Technologies, Inc. 5.125% 10/1/2031 |  | 1170 | 1036 |
| ArcelorMittal 7.00% 10/15/2039 |  | 488 | 497 |
| ArcelorMittal 6.75% 3/1/2041 |  | 755 | 731 |
| Arconic Corp. 6.00% 5/15/2025<sup>1</sup> |  | 360 | 355 |
| Arconic Rolled Products Corp. 6.125% 2/15/2028<sup>1</sup> |  | 200 | 188 |
| Ardagh Group SA 6.50% Cash 6/30/2027<sup>1,6</sup> |  | 422 | 294 |
| Ardagh Metal Packaging Finance USA, LLC 6.00% 6/15/2027<sup>1</sup> |  | 750 | 735 |
| Ardagh Metal Packaging Finance USA, LLC 3.25% 9/1/2028<sup>1</sup> |  | 500 | 425 |
| Ardagh Metal Packaging Finance USA, LLC 4.00% 9/1/2029<sup>1</sup> |  | 550 | 437 |
| Ardagh Packaging Finance 4.125% 8/15/2026<sup>1</sup> |  | 900 | 782 |
| Avient Corp. 7.125% 8/1/2030<sup>1</sup> |  | 335 | 328 |
| Axalta Coating Systems, LLC 4.75% 6/15/2027<sup>1</sup> |  | 460 | 426 |
| Ball Corp. 6.875% 3/15/2028 |  | 1065 | 1095 |
| Ball Corp. 2.875% 8/15/2030 |  | 160 | 128 |

---

232 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments (continued)** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Materials (continued)** |  |  |  |
| Ball Corp. 3.125% 9/15/2031 | USD | 1660 | $1335 |
| BWAY Parent Co., Inc. 5.50% 4/15/2024<sup>1</sup> |  | 1464 | 1427 |
| BWAY Parent Co., Inc. 7.25% 4/15/2025<sup>1</sup> |  | 625 | 579 |
| BWAY Parent Co., Inc., Term Loan, |  |  |  |
| (3-month USD-LIBOR + 3.25%) 7.37% 4/3/2024<sup>4,5</sup> |  | 255 | 250 |
| CAN-PACK SA 3.875% 11/15/2029<sup>1</sup> |  | 1300 | 1026 |
| Cleveland-Cliffs, Inc. 6.75% 3/15/2026<sup>1</sup> |  | 262 | 263 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2027 |  | 297 | 281 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027 |  | 3243 | 3104 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029<sup>1</sup> |  | 1981 | 1761 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031<sup>1</sup> |  | 2875 | 2543 |
| Crown Holdings, Inc. 5.25% 4/1/2030<sup>1</sup> |  | 240 | 227 |
| CVR Partners, LP 6.125% 6/15/2028<sup>1</sup> |  | 1125 | 1011 |
| Element Solutions, Inc. 3.875% 9/1/2028<sup>1</sup> |  | 410 | 349 |
| First Quantum Minerals, Ltd. 7.50% 4/1/2025<sup>1</sup> |  | 3893 | 3797 |
| First Quantum Minerals, Ltd. 6.875% 3/1/2026<sup>1</sup> |  | 2926 | 2775 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027<sup>1</sup> |  | 7610 | 7156 |
| Freeport-McMoRan, Inc. 4.25% 3/1/2030 |  | 437 | 398 |
| Freeport-McMoRan, Inc. 5.45% 3/15/2043 |  | 411 | 372 |
| FXI Holdings, Inc. 7.875% 11/1/2024<sup>1</sup> |  | 6248 | 5204 |
| FXI Holdings, Inc. 12.25% 11/15/2026<sup>1</sup> |  | 7432 | 6165 |
| GPC Merger Sub, Inc. 7.125% 8/15/2028<sup>1</sup> |  | 334 | 279 |
| Graphic Packaging International, LLC 3.75% 2/1/2030<sup>1</sup> |  | 790 | 673 |
| Hexion, Inc., Term Loan, (3-month USD CME Term SOFR + 4.50%) 8.934% 3/15/2029<sup>4,5</sup> |  | 454 | 391 |
| Kaiser Aluminum Corp. 4.625% 3/1/2028<sup>1</sup> |  | 638 | 558 |
| LABL, Inc. 5.875% 11/1/2028<sup>1</sup> |  | 730 | 637 |
| LABL, Inc. 8.25% 11/1/2029<sup>1</sup> |  | 490 | 391 |
| LSB Industries, Inc. 6.25% 10/15/2028<sup>1</sup> |  | 1620 | 1484 |
| Methanex Corp. 5.125% 10/15/2027 |  | 3870 | 3596 |
| Methanex Corp. 5.25% 12/15/2029 |  | 1217 | 1082 |
| Methanex Corp. 5.65% 12/1/2044 |  | 465 | 355 |
| Mineral Resources, Ltd. 8.00% 11/1/2027<sup>1</sup> |  | 1292 | 1323 |
| Mineral Resources, Ltd. 8.50% 5/1/2030<sup>1</sup> |  | 1270 | 1289 |
| Neon Holdings, Inc. 10.125% 4/1/2026<sup>1</sup> |  | 595 | 508 |
| Nova Chemicals Corp. 4.875% 6/1/2024<sup>1</sup> |  | 760 | 737 |
| Nova Chemicals Corp. 5.25% 6/1/2027<sup>1</sup> |  | 2036 | 1834 |
| Nova Chemicals Corp. 4.25% 5/15/2029<sup>1</sup> |  | 2330 | 1908 |
| Novelis Corp. 3.25% 11/15/2026<sup>1</sup> |  | 825 | 741 |
| Novelis Corp. 4.75% 1/30/2030<sup>1</sup> |  | 563 | 500 |
| Novelis Corp. 3.875% 8/15/2031<sup>1</sup> |  | 1122 | 918 |
| Olin Corp. 5.625% 8/1/2029 |  | 200 | 190 |
| Olin Corp. 5.00% 2/1/2030 |  | 180 | 165 |
| Owens-Illinois, Inc. 5.875% 8/15/2023<sup>1</sup> |  | 191 | 190 |
| Owens-Illinois, Inc. 6.375% 8/15/2025<sup>1</sup> |  | 265 | 260 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028<sup>1</sup> |  | 2185 | 1879 |
| SCIH Salt Holdings, Inc. 6.625% 5/1/2029<sup>1</sup> |  | 1225 | 988 |
| Scotts Miracle-Gro Co. 4.50% 10/15/2029 |  | 379 | 308 |
| Scotts Miracle-Gro Co. 4.375% 2/1/2032 |  | 455 | 344 |
| Sealed Air Corp. 4.00% 12/1/2027<sup>1</sup> |  | 316 | 287 |
| Sealed Air Corp. 5.00% 4/15/2029<sup>1</sup> |  | 690 | 650 |
| Silgan Holdings, Inc. 4.125% 2/1/2028 |  | 377 | 350 |
| SPCM SA 3.375% 3/15/2030<sup>1</sup> |  | 400 | 323 |
| Summit Materials, LLC 6.50% 3/15/2027<sup>1</sup> |  | 360 | 353 |
| Summit Materials, LLC 5.25% 1/15/2029<sup>1</sup> |  | 755 | 704 |
| Trivium Packaging BV 5.50% 8/15/2026<sup>1</sup> |  | 330 | 303 |
| Trivium Packaging BV 8.50% 8/15/2027<sup>1</sup> |  | 703 | 646 |
| Tronox, Ltd. 4.625% 3/15/2029<sup>1</sup> |  | 730 | 608 |
| Valvoline, Inc. 4.25% 2/15/2030<sup>1</sup> |  | 353 | 343 |
| Valvoline, Inc. 3.625% 6/15/2031<sup>1</sup> |  | 410 | 337 |
| Venator Finance SARL 9.50% 7/1/2025<sup>1</sup> |  | 1538 | 1115 |

---

American Funds Insurance Series 233

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Materials (continued)** |  |  |  |
| Venator Finance SARL 5.75% 7/15/2025<sup>1</sup> | USD | 3501 | $1201 |
| W. R. Grace Holdings, LLC 5.625% 8/15/2029<sup>1</sup> |  | 440 | 356 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028<sup>1</sup> |  | 1680 | 1658 |
|  |  |  | **82682** |
| **Health care 9.93%** |  |  |  |
| 1375209 BC, Ltd. 9.00% 1/30/2028<sup>1</sup> |  | 720 | 705 |
| AdaptHealth, LLC 5.125% 3/1/2030<sup>1</sup> |  | 625 | 533 |
| Avantor Funding, Inc. 4.625% 7/15/2028<sup>1</sup> |  | 2380 | 2167 |
| Avantor Funding, Inc. 3.875% 11/1/2029<sup>1</sup> |  | 500 | 420 |
| Bausch Health Americas, Inc. 9.25% 4/1/2026<sup>1</sup> |  | 1789 | 1255 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027<sup>1</sup> |  | 252 | 132 |
| Bausch Health Companies, Inc. 9.00% 12/15/2025<sup>1</sup> |  | 1591 | 1258 |
| Bausch Health Companies, Inc. 6.125% 2/1/2027<sup>1</sup> |  | 245 | 169 |
| Bausch Health Companies, Inc. 5.75% 8/15/2027<sup>1</sup> |  | 865 | 590 |
| Bausch Health Companies, Inc. 7.00% 1/15/2028<sup>1</sup> |  | 413 | 200 |
| Bausch Health Companies, Inc. 5.00% 1/30/2028<sup>1</sup> |  | 1357 | 653 |
| Bausch Health Companies, Inc. 4.875% 6/1/2028<sup>1</sup> |  | 3390 | 2163 |
| Bausch Health Companies, Inc. 5.00% 2/15/2029<sup>1</sup> |  | 310 | 149 |
| Bausch Health Companies, Inc. 7.25% 5/30/2029<sup>1</sup> |  | 340 | 165 |
| Bausch Health Companies, Inc. 5.25% 1/30/2030<sup>1</sup> |  | 1712 | 824 |
| Bausch Health Companies, Inc. 14.00% 10/15/2030<sup>1</sup> |  | 550 | 329 |
| Bausch Health Companies, Inc. 5.25% 2/15/2031<sup>1</sup> |  | 3762 | 1828 |
| Catalent Pharma Solutions, Inc. 5.00% 7/15/2027<sup>1</sup> |  | 290 | 270 |
| Catalent Pharma Solutions, Inc. 3.125% 2/15/2029<sup>1</sup> |  | 285 | 227 |
| Catalent Pharma Solutions, Inc. 3.50% 4/1/2030<sup>1</sup> |  | 1310 | 1036 |
| Centene Corp. 4.25% 12/15/2027 |  | 344 | 323 |
| Centene Corp. 2.45% 7/15/2028 |  | 2255 | 1908 |
| Centene Corp. 4.625% 12/15/2029 |  | 2035 | 1864 |
| Centene Corp. 3.375% 2/15/2030 |  | 422 | 358 |
| Centene Corp. 3.00% 10/15/2030 |  | 720 | 592 |
| Centene Corp. 2.50% 3/1/2031 |  | 1245 | 977 |
| Centene Corp. 2.625% 8/1/2031 |  | 400 | 315 |
| Charles River Laboratories International, Inc. 4.25% 5/1/2028<sup>1</sup> |  | 561 | 518 |
| Charles River Laboratories International, Inc. 3.75% 3/15/2029<sup>1</sup> |  | 680 | 602 |
| Charles River Laboratories International, Inc. 4.00% 3/15/2031<sup>1</sup> |  | 400 | 347 |
| Community Health Systems, Inc. 8.00% 3/15/2026<sup>1</sup> |  | 580 | 529 |
| Community Health Systems, Inc. 5.625% 3/15/2027<sup>1</sup> |  | 1645 | 1414 |
| Community Health Systems, Inc. 6.00% 1/15/2029<sup>1</sup> |  | 348 | 292 |
| Community Health Systems, Inc. 6.875% 4/15/2029<sup>1</sup> |  | 240 | 124 |
| Community Health Systems, Inc. 5.25% 5/15/2030<sup>1</sup> |  | 1370 | 1035 |
| Community Health Systems, Inc. 4.75% 2/15/2031<sup>1</sup> |  | 100 | 73 |
| DaVita, Inc. 4.625% 6/1/2030<sup>1</sup> |  | 850 | 686 |
| Encompass Health Corp. 4.50% 2/1/2028 |  | 496 | 451 |
| Encompass Health Corp. 4.75% 2/1/2030 |  | 285 | 251 |
| Endo DAC 6.00% 6/30/2028<sup>1,2</sup> |  | 2313 | 127 |
| Endo DAC / Endo Finance, LLC / Endo Finco 9.50% 7/31/2027<sup>1,2</sup> |  | 311 | 44 |
| Endo International PLC 5.875% 10/15/2024<sup>1</sup> |  | 520 | 413 |
| Endo Luxembourg Finance Co. I SARL / Endo U.S., Inc. 6.125% 4/1/2029<sup>1</sup> |  | 660 | 502 |
| Grifols Escrow Issuer SA 4.75% 10/15/2028<sup>1</sup> |  | 630 | 545 |
| HCA, Inc. 5.625% 9/1/2028 |  | 1300 | 1295 |
| HCA, Inc. 5.875% 2/1/2029 |  | 255 | 255 |
| HCA, Inc. 3.50% 9/1/2030 |  | 1215 | 1051 |
| HCA, Inc. 4.625% 3/15/2052<sup>1</sup> |  | 233 | 182 |
| HCA, Inc. 7.50% 11/15/2095 |  | 250 | 269 |
| HealthEquity, Inc. 4.50% 10/1/2029<sup>1</sup> |  | 600 | 525 |
| IMS Health Holdings, Inc. 5.00% 10/15/2026<sup>1</sup> |  | 823 | 788 |
| Jazz Securities DAC 4.375% 1/15/2029<sup>1</sup> |  | 461 | 412 |
| Mallinckrodt PLC 10.00% 4/15/2025<sup>1</sup> |  | 939 | 808 |
| Minerva Merger Sub, Inc. 6.50% 2/15/2030<sup>1</sup> |  | 640 | 473 |

---

234 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Health care (continued)** |  |  |  |
| Molina Healthcare, Inc. 4.375% 6/15/2028<sup>1</sup> | USD | 1055 | $965 |
| Molina Healthcare, Inc. 3.875% 11/15/2030<sup>1</sup> |  | 2309 | 1960 |
| Molina Healthcare, Inc. 3.875% 5/15/2032<sup>1</sup> |  | 2275 | 1893 |
| Mozart Debt Merger Sub, Inc. 3.875% 4/1/2029<sup>1</sup> |  | 220 | 178 |
| Mozart Debt Merger Sub, Inc. 5.25% 10/1/2029<sup>1</sup> |  | 1425 | 1134 |
| Option Care Health, Inc. 4.375% 10/31/2029<sup>1</sup> |  | 290 | 254 |
| Organon Finance 1, LLC 4.125% 4/30/2028<sup>1</sup> |  | 535 | 475 |
| Owens & Minor, Inc. 4.375% 12/15/2024 |  | 1185 | 1147 |
| Owens & Minor, Inc. 4.50% 3/31/2029<sup>1</sup> |  | 1145 | 914 |
| Owens & Minor, Inc. 6.625% 4/1/2030<sup>1</sup> |  | 675 | 581 |
| Par Pharmaceutical, Inc. 7.50% 4/1/2027<sup>1</sup> |  | 4665 | 3555 |
| Radiology Partners, Inc. 9.25% 2/1/2028<sup>1</sup> |  | 1873 | 1054 |
| Radiology Partners, Inc., Term Loan, (3-month USD-LIBOR + 4.25%) 8.639% 7/9/2025<sup>4,5</sup> |  | 95 | 80 |
| RP Escrow Issuer, LLC 5.25% 12/15/2025<sup>1</sup> |  | 1175 | 899 |
| Select Medical Holdings Corp. 6.25% 8/15/2026<sup>1</sup> |  | 554 | 528 |
| Surgery Center Holdings 10.00% 4/15/2027<sup>1</sup> |  | 244 | 249 |
| Syneos Health, Inc. 3.625% 1/15/2029<sup>1</sup> |  | 530 | 423 |
| Team Health Holdings, Inc. 6.375% 2/1/2025<sup>1</sup> |  | 704 | 407 |
| Team Health Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.573% 3/2/2027<sup>4,5</sup> |  | 276 | 209 |
| Tenet Healthcare Corp. 4.625% 7/15/2024 |  | 130 | 127 |
| Tenet Healthcare Corp. 4.875% 1/1/2026<sup>1</sup> |  | 5600 | 5307 |
| Tenet Healthcare Corp. 6.25% 2/1/2027<sup>1</sup> |  | 500 | 481 |
| Tenet Healthcare Corp. 5.125% 11/1/2027<sup>1</sup> |  | 265 | 247 |
| Tenet Healthcare Corp. 4.625% 6/15/2028<sup>1</sup> |  | 890 | 798 |
| Tenet Healthcare Corp. 6.125% 10/1/2028<sup>1</sup> |  | 740 | 664 |
| Tenet Healthcare Corp. 4.25% 6/1/2029<sup>1</sup> |  | 990 | 859 |
| Tenet Healthcare Corp. 4.375% 1/15/2030<sup>1</sup> |  | 1340 | 1162 |
| Tenet Healthcare Corp. 6.875% 11/15/2031 |  | 100 | 90 |
| Teva Pharmaceutical Finance Co. BV 6.00% 4/15/2024 |  | 3379 | 3319 |
| Teva Pharmaceutical Finance Co. BV 7.125% 1/31/2025 |  | 1984 | 1976 |
| Teva Pharmaceutical Finance Co. BV 3.15% 10/1/2026 |  | 3314 | 2905 |
| Teva Pharmaceutical Finance Co. BV 4.75% 5/9/2027 |  | 570 | 516 |
| Teva Pharmaceutical Finance Co. BV 6.75% 3/1/2028 |  | 1888 | 1845 |
| Teva Pharmaceutical Finance Co. BV 5.125% 5/9/2029 |  | 6865 | 6123 |
| Teva Pharmaceutical Finance Co. BV 4.10% 10/1/2046 |  | 412 | 253 |
| Valeant Pharmaceuticals International, Inc. 5.50% 11/1/2025<sup>1</sup> |  | 4190 | 3568 |
|  |  |  | **82566** |
| **Industrials 8.97%** |  |  |  |
| AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026<sup>1</sup> |  | 990 | 954 |
| ADT Security Corp. 4.125% 8/1/2029<sup>1</sup> |  | 200 | 170 |
| Allison Transmission Holdings, Inc. 3.75% 1/30/2031<sup>1</sup> |  | 1235 | 1017 |
| Ashtead Capital, Inc. 5.50% 8/11/2032<sup>1</sup> |  | 600 | 576 |
| Atkore, Inc. 4.25% 6/1/2031<sup>1</sup> |  | 385 | 331 |
| Atlantic Aviation FBO, Inc., Term Loan, (3-month USD-LIBOR + 5.75%) 10.134% 9/21/2029<sup>4,5</sup> |  | 2899 | 2813 |
| ATS Automation Tooling Systems, Inc. 4.125% 12/15/2028<sup>1</sup> |  | 275 | 238 |
| Avis Budget Car Rental, LLC 5.75% 7/15/2027<sup>1</sup> |  | 885 | 802 |
| Avis Budget Group, Inc. 5.375% 3/1/2029<sup>1</sup> |  | 1215 | 1041 |
| Avolon Holdings Funding, Ltd. 5.25% 5/15/2024<sup>1</sup> |  | 660 | 647 |
| Avolon Holdings Funding, Ltd. 2.528% 11/18/2027<sup>1</sup> |  | 2098 | 1680 |
| BlueLinx Holdings, Inc. 6.00% 11/15/2029<sup>1</sup> |  | 500 | 416 |
| Bohai Financial Investment Holding Co., Ltd. 4.50% 3/15/2023<sup>1</sup> |  | 132 | 132 |
| Bombardier, Inc. 7.50% 3/15/2025<sup>1</sup> |  | 593 | 588 |
| Bombardier, Inc. 7.125% 6/15/2026<sup>1</sup> |  | 3395 | 3300 |
| Bombardier, Inc. 7.875% 4/15/2027<sup>1</sup> |  | 3978 | 3867 |
| Bombardier, Inc. 6.00% 2/15/2028<sup>1</sup> |  | 1335 | 1236 |
| Bombardier, Inc. 7.45% 5/1/2034<sup>1</sup> |  | 450 | 452 |

---

American Funds Insurance Series 235

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Industrials (continued)** |  |  |  |
| Builders FirstSource, Inc. 4.25% 2/1/2032<sup>1</sup> | USD | 735 | $597 |
| BWX Technologies, Inc. 4.125% 6/30/2028<sup>1</sup> |  | 515 | 464 |
| BWX Technologies, Inc. 4.125% 4/15/2029<sup>1</sup> |  | 1005 | 881 |
| Chart Industries, Inc. 7.50% 1/1/2030<sup>1</sup> |  | 523 | 526 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028<sup>1</sup> |  | 1595 | 1384 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029<sup>1</sup> |  | 1265 | 1077 |
| Clean Harbors, Inc. 4.875% 7/15/2027<sup>1</sup> |  | 766 | 727 |
| CoreLogic, Inc. 4.50% 5/1/2028<sup>1</sup> |  | 4279 | 3288 |
| CoreLogic, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 10.938% 6/4/2029<sup>4,5</sup> |  | 660 | 480 |
| Covanta Holding Corp. 4.875% 12/1/2029<sup>1</sup> |  | 1295 | 1063 |
| Covanta Holding Corp. 5.00% 9/1/2030 |  | 1590 | 1287 |
| Dun & Bradstreet Corp. 5.00% 12/15/2029<sup>1</sup> |  | 1585 | 1358 |
| Garda World Security Corp. 6.00% 6/1/2029<sup>1</sup> |  | 150 | 122 |
| GFL Environmental, Inc. 3.50% 9/1/2028<sup>1</sup> |  | 765 | 673 |
| Harsco Corp. 5.75% 7/31/2027<sup>1</sup> |  | 700 | 554 |
| Herc Holdings, Inc. 5.50% 7/15/2027<sup>1</sup> |  | 200 | 187 |
| Howmet Aerospace, Inc. 5.95% 2/1/2037 |  | 150 | 146 |
| Icahn Enterprises Finance Corp. 4.75% 9/15/2024 |  | 1080 | 1038 |
| Icahn Enterprises, LP 5.25% 5/15/2027 |  | 277 | 254 |
| Icahn Enterprises, LP 4.375% 2/1/2029 |  | 675 | 572 |
| JELD-WEN Holding, Inc. 4.875% 12/15/2027<sup>1</sup> |  | 543 | 410 |
| LABL Escrow Issuer, LLC 6.75% 7/15/2026<sup>1</sup> |  | 450 | 425 |
| LABL Escrow Issuer, LLC 10.50% 7/15/2027<sup>1</sup> |  | 1310 | 1221 |
| LSC Communications, Inc. 8.75% 10/15/2023<sup>1,2,3</sup> |  | 8933 | 27 |
| LSC Communications, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 7.75% 9/30/2022<sup>2,3,4,5</sup> |  | 301 | 1 |
| Masonite International Corp. 3.50% 2/15/2030<sup>1</sup> |  | 530 | 429 |
| MasTec, Inc. 4.50% 8/15/2028<sup>1</sup> |  | 460 | 413 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027<sup>1</sup> |  | 3543 | 3530 |
| Mueller Water Products, Inc. 4.00% 6/15/2029<sup>1</sup> |  | 275 | 242 |
| Park River Holdings, Inc. 5.625% 2/1/2029<sup>1</sup> |  | 775 | 517 |
| PGT Innovations, Inc. 4.375% 10/1/2029<sup>1</sup> |  | 1125 | 943 |
| Pitney Bowes, Inc. 6.875% 3/15/2027<sup>1</sup> |  | 600 | 514 |
| PM General Purchaser, LLC 9.50% 10/1/2028<sup>1</sup> |  | 2428 | 1855 |
| Prime Security Services Borrower, LLC 3.375% 8/31/2027<sup>1</sup> |  | 475 | 411 |
| Prime Security Services Borrower, LLC 6.25% 1/15/2028<sup>1</sup> |  | 627 | 572 |
| R.R. Donnelley & Sons Co. 6.125% 11/1/2026<sup>1</sup> |  | 375 | 351 |
| Roller Bearing Company of America, Inc. 4.375% 10/15/2029<sup>1</sup> |  | 170 | 147 |
| Rolls-Royce PLC 5.75% 10/15/2027<sup>1</sup> |  | 720 | 687 |
| Sensata Technologies, Inc. 3.75% 2/15/2031<sup>1</sup> |  | 500 | 412 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028<sup>1</sup> |  | 1975 | 1859 |
| Spirit AeroSystems, Inc. 4.60% 6/15/2028 |  | 1410 | 1141 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029<sup>1</sup> |  | 980 | 1033 |
| SRS Distribution, Inc. 4.625% 7/1/2028<sup>1</sup> |  | 480 | 426 |
| Stericycle, Inc. 5.375% 7/15/2024<sup>1</sup> |  | 1135 | 1120 |
| Stericycle, Inc. 3.875% 1/15/2029<sup>1</sup> |  | 940 | 821 |
| The Brink's Co. 4.625% 10/15/2027<sup>1</sup> |  | 719 | 659 |
| The Hertz Corp. 5.00% 12/1/2029<sup>1</sup> |  | 380 | 289 |
| Titan International, Inc. 7.00% 4/30/2028 |  | 750 | 709 |
| TransDigm, Inc. 6.25% 3/15/2026<sup>1</sup> |  | 1638 | 1619 |
| TransDigm, Inc. 6.875% 5/15/2026 |  | 460 | 450 |
| TransDigm, Inc. 6.375% 6/15/2026 |  | 240 | 234 |
| TransDigm, Inc. 5.50% 11/15/2027 |  | 855 | 805 |
| TransDigm, Inc. 4.625% 1/15/2029 |  | 155 | 137 |
| TransDigm, Inc. 4.875% 5/1/2029 |  | 220 | 192 |
| Triumph Group, Inc. 8.875% 6/1/2024<sup>1</sup> |  | 633 | 645 |
| Triumph Group, Inc. 6.25% 9/15/2024<sup>1</sup> |  | 4812 | 4569 |
| Triumph Group, Inc. 7.75% 8/15/2025 |  | 1260 | 1074 |
| Uber Technologies, Inc. 8.00% 11/1/2026<sup>1</sup> |  | 498 | 501 |
| United Airlines, Inc. 4.375% 4/15/2026<sup>1</sup> |  | 285 | 265 |
| United Airlines, Inc. 4.625% 4/15/2029<sup>1</sup> |  | 505 | 441 |

---

236 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Industrials (continued)** |  |  |  |
| United Rentals, Inc. 4.875% 1/15/2028 | USD | 680 | $646 |
| United Rentals, Inc. 6.00% 12/15/2029<sup>1</sup> |  | 910 | 906 |
| United Rentals, Inc. 3.875% 2/15/2031 |  | 525 | 441 |
| United Rentals, Inc. 3.75% 1/15/2032 |  | 450 | 368 |
| Vertical U.S. Newco, Inc. 5.25% 7/15/2027<sup>1</sup> |  | 1495 | 1330 |
| WESCO Distribution, Inc. 7.125% 6/15/2025<sup>1</sup> |  | 675 | 685 |
| WESCO Distribution, Inc. 7.25% 6/15/2028<sup>1</sup> |  | 825 | 837 |
| Western Global Airlines, LLC 10.375% 8/15/2025<sup>1</sup> |  | 475 | 357 |
|  |  |  | **74604** |
| **Financials 7.26%** |  |  |  |
| Advisor Group Holdings, LLC 6.25% 3/1/2028<sup>1</sup> |  | 2191 | 2017 |
| AG Merger Sub II, Inc. 10.75% 8/1/2027<sup>1</sup> |  | 3800 | 3852 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027<sup>1</sup> |  | 1058 | 1069 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027<sup>1</sup> |  | 890 | 798 |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027<sup>1</sup> |  | 1741 | 1569 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029<sup>1</sup> |  | 1560 | 1285 |
| AmWINS Group, Inc. 4.875% 6/30/2029<sup>1</sup> |  | 1260 | 1070 |
| Aretec Escrow Issuer, Inc. 7.50% 4/1/2029<sup>1</sup> |  | 2875 | 2379 |
| Ascensus, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 10.25% 8/2/2029<sup>4,5</sup> |  | 1245 | 1096 |
| AssuredPartners, Inc. 8.00% 5/15/2027<sup>1</sup> |  | 437 | 419 |
| AssuredPartners, Inc. 5.625% 1/15/2029<sup>1</sup> |  | 365 | 301 |
| Blackstone Private Credit Fund 7.05% 9/29/2025<sup>1</sup> |  | 640 | 636 |
| BroadStreet Partners, Inc. 5.875% 4/15/2029<sup>1</sup> |  | 575 | 490 |
| Castlelake Aviation Finance DAC 5.00% 4/15/2027<sup>1</sup> |  | 1115 | 972 |
| Coinbase Global, Inc. 3.375% 10/1/2028<sup>1</sup> |  | 1320 | 699 |
| Coinbase Global, Inc. 3.625% 10/1/2031<sup>1</sup> |  | 1090 | 526 |
| Compass Diversified Holdings 5.25% 4/15/2029<sup>1</sup> |  | 4150 | 3557 |
| Compass Diversified Holdings 5.00% 1/15/2032<sup>1</sup> |  | 1230 | 979 |
| Credit Acceptance Corp. 5.125% 12/31/2024<sup>1</sup> |  | 275 | 259 |
| Digital Currency Group, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8.00% 11/30/2026<sup>3,4,5</sup> |  | 823 | 715 |
| Digital Currency Group, Inc., Term Loan, 8.75% 11/30/2026<sup>3,4</sup> |  | 1097 | 879 |
| FS Energy and Power Fund 7.50% 8/15/2023<sup>1</sup> |  | 2784 | 2793 |
| Hightower Holding, LLC 6.75% 4/15/2029<sup>1</sup> |  | 905 | 761 |
| HUB International, Ltd. 7.00% 5/1/2026<sup>1</sup> |  | 2080 | 2040 |
| HUB International, Ltd. 5.625% 12/1/2029<sup>1</sup> |  | 240 | 210 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032<sup>1</sup> |  | 725 | 603 |
| JPMorgan Chase & Co. 2.956% 5/13/2031 (USD-SOFR + 2.515% on 5/13/2030)<sup>7</sup> |  | 160 | 132 |
| JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)<sup>7</sup> |  | 490 | 468 |
| LPL Holdings, Inc. 4.625% 11/15/2027<sup>1</sup> |  | 1592 | 1490 |
| LPL Holdings, Inc. 4.00% 3/15/2029<sup>1</sup> |  | 1900 | 1656 |
| LPL Holdings, Inc. 4.375% 5/15/2031<sup>1</sup> |  | 1135 | 967 |
| MGIC Investment Corp. 5.25% 8/15/2028 |  | 525 | 485 |
| MSCI, Inc. 4.00% 11/15/2029<sup>1</sup> |  | 900 | 785 |
| MSCI, Inc. 3.625% 9/1/2030<sup>1</sup> |  | 66 | 55 |
| MSCI, Inc. 3.875% 2/15/2031<sup>1</sup> |  | 1450 | 1208 |
| MSCI, Inc. 3.625% 11/1/2031<sup>1</sup> |  | 2055 | 1702 |
| MSCI, Inc. 3.25% 8/15/2033<sup>1</sup> |  | 945 | 731 |
| National Financial Partners Corp. 6.875% 8/15/2028<sup>1</sup> |  | 739 | 611 |
| Navient Corp. 5.50% 1/25/2023 |  | 684 | 684 |
| Navient Corp. 6.125% 3/25/2024 |  | 1047 | 1027 |
| Navient Corp. 5.875% 10/25/2024 |  | 1405 | 1362 |
| Navient Corp. 6.75% 6/25/2025 |  | 550 | 529 |
| Navient Corp. 6.75% 6/15/2026 |  | 640 | 608 |
| Navient Corp. 5.00% 3/15/2027 |  | 2883 | 2529 |
| Navient Corp. 4.875% 3/15/2028 |  | 320 | 264 |
| Navient Corp. 5.50% 3/15/2029 |  | 2280 | 1864 |
| Navient Corp. 5.625% 8/1/2033 |  | 1478 | 1056 |
| OneMain Finance Corp. 3.875% 9/15/2028 |  | 206 | 164 |

---

American Funds Insurance Series 237

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Financials (continued)** |  |  |  |
| OneMain Holdings, Inc. 7.125% 3/15/2026 | USD | 1335 | $1272 |
| Owl Rock Capital Corp. 3.75% 7/22/2025 |  | 600 | 555 |
| Owl Rock Capital Corp. 3.40% 7/15/2026 |  | 290 | 254 |
| Owl Rock Capital Corp. II 4.625% 11/26/2024<sup>1</sup> |  | 450 | 428 |
| Owl Rock Capital Corp. III 3.125% 4/13/2027 |  | 600 | 495 |
| Owl Rock Core Income Corp. 4.70% 2/8/2027 |  | 800 | 722 |
| Oxford Finance, LLC 6.375% 2/1/2027<sup>1</sup> |  | 1893 | 1764 |
| Quicken Loans, LLC 3.625% 3/1/2029<sup>1</sup> |  | 455 | 361 |
| Rocket Mortgage, LLC 2.875% 10/15/2026<sup>1</sup> |  | 520 | 447 |
| Ryan Specialty Group, LLC 4.375% 2/1/2030<sup>1</sup> |  | 615 | 533 |
| Springleaf Finance Corp. 6.125% 3/15/2024 |  | 367 | 356 |
| Springleaf Finance Corp. 6.625% 1/15/2028 |  | 340 | 314 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027<sup>1</sup> |  | 570 | 500 |
|  |  |  | **60352** |
| **Information technology 4.50%** |  |  |  |
| Almonde, Inc., Term Loan B, (3-month USD-LIBOR + 3.50%) 6.871% 6/13/2024<sup>4,5</sup> |  | 270 | 239 |
| Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 10.621% 6/13/2025<sup>4,5</sup> |  | 3899 | 2932 |
| Black Knight, Inc. 3.625% 9/1/2028<sup>1</sup> |  | 410 | 357 |
| Block, Inc. 2.75% 6/1/2026 |  | 1455 | 1302 |
| Block, Inc. 3.50% 6/1/2031 |  | 1570 | 1255 |
| BMC Software, Inc. 7.125% 10/2/2025<sup>1</sup> |  | 180 | 175 |
| BMC Software, Inc. 9.125% 3/1/2026<sup>1</sup> |  | 240 | 227 |
| BMC Software, Inc., Term Loan, (3-month USD-LIBOR + 5.50%) 6.128% 3/31/2026<sup>4,5</sup> |  | 1170 | 1080 |
| Booz Allen Hamilton, Inc. 3.875% 9/1/2028<sup>1</sup> |  | 450 | 399 |
| Booz Allen Hamilton, Inc. 4.00% 7/1/2029<sup>1</sup> |  | 580 | 511 |
| CDK Global, Inc. 7.25% 6/15/2029<sup>1</sup> |  | 1460 | 1430 |
| Ciena Corp. 4.00% 1/31/2030<sup>1</sup> |  | 440 | 388 |
| CommScope Finance, LLC 6.00% 3/1/2026<sup>1</sup> |  | 430 | 398 |
| CommScope Finance, LLC 8.25% 3/1/2027<sup>1</sup> |  | 360 | 280 |
| CommScope Technologies, LLC 6.00% 6/15/2025<sup>1</sup> |  | 380 | 347 |
| CommScope Technologies, LLC 5.00% 3/15/2027<sup>1</sup> |  | 220 | 150 |
| Condor Merger Sub, Inc. 7.375% 2/15/2030<sup>1</sup> |  | 400 | 322 |
| Diebold Nixdorf, Inc. 9.375% 7/15/2025<sup>1</sup> |  | 7523 | 5380 |
| Diebold Nixdorf, Inc., units, 8.50% PIK or 8.50% Cash 10/15/2026<sup>1,3,6</sup> |  | 1324 | 797 |
| Diebold Nixdorf, Inc., Term Loan, (USD-SOFR + 5.25%) 6.75% 7/15/2025<sup>3,4,5</sup> |  | 2084 | 1404 |
| Elastic NV 4.125% 7/15/2029<sup>1</sup> |  | 350 | 283 |
| Entegris Escrow Corp. 4.75% 4/15/2029<sup>1</sup> |  | 790 | 722 |
| Fair Isaac Corp. 4.00% 6/15/2028<sup>1</sup> |  | 1195 | 1087 |
| Finastra, Ltd., Term Loan B, (3-month EUR-EURIBOR + 3.00%) 4.00% 6/13/2024<sup>4,5</sup> | EUR | 846 | 783 |
| Gartner, Inc. 4.50% 7/1/2028<sup>1</sup> | USD | 2098 | 1960 |
| Gartner, Inc. 3.625% 6/15/2029<sup>1</sup> |  | 154 | 135 |
| Gartner, Inc. 3.75% 10/1/2030<sup>1</sup> |  | 1001 | 864 |
| GoDaddy Operating Co. 5.25% 12/1/2027<sup>1</sup> |  | 390 | 370 |
| GoDaddy Operating Co. 3.50% 3/1/2029<sup>1</sup> |  | 210 | 176 |
| Imola Merger Corp. 4.75% 5/15/2029<sup>1</sup> |  | 300 | 261 |
| MicroStrategy, Inc. 6.125% 6/15/2028<sup>1</sup> |  | 325 | 233 |
| MoneyGram International, Inc. 5.375% 8/1/2026<sup>1</sup> |  | 875 | 888 |
| NCR Corp. 5.125% 4/15/2029<sup>1</sup> |  | 1759 | 1474 |
| NortonLifeLock, Inc. 7.125% 9/30/2030<sup>1</sup> |  | 255 | 251 |
| Open Text Corp., Term Loan B, (3-month USD-LIBOR + 3.50%) 3.50% 11/16/2029<sup>4,5</sup> |  | 355 | 347 |
| Rocket Software, Inc. 6.50% 2/15/2029<sup>1</sup> |  | 455 | 359 |
| Sabre GLBL, Inc. 7.375% 9/1/2025<sup>1</sup> |  | 133 | 128 |
| Sabre GLBL, Inc. 11.25% 12/15/2027<sup>1</sup> |  | 877 | 904 |
| Sabre Holdings Corp. 9.25% 4/15/2025<sup>1</sup> |  | 1152 | 1149 |
| Synaptics, Inc. 4.00% 6/15/2029<sup>1</sup> |  | 375 | 316 |
| Tibco Software, Inc., Term Loan A, (3-month USD CME Term SOFR + 4.50%) 9.18% 9/29/2028<sup>4,5</sup> |  | 1255 | 1117 |
| UKG, Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 6.998% 5/4/2026<sup>4,5</sup> |  | 465 | 443 |
| UKG, Inc., Term Loan, (3-month USD-LIBOR + 5.25%) 8.998% 5/3/2027<sup>4,5</sup> |  | 1970 | 1820 |

---

238 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Information technology (continued)** |  |  |  |
| Unisys Corp. 6.875% 11/1/2027<sup>1</sup> | USD | 1385 | $1065 |
| VeriSign, Inc. 5.25% 4/1/2025 |  | 132 | 132 |
| Veritas US, Inc. 7.50% 9/1/2025<sup>1</sup> |  | 285 | 197 |
| Viavi Solutions, Inc. 3.75% 10/1/2029<sup>1</sup> |  | 230 | 194 |
| Xerox Corp. 5.50% 8/15/2028<sup>1</sup> |  | 435 | 349 |
|  |  |  | **37380** |
| **Consumer staples 4.14%** |  |  |  |
| Albertsons Companies, Inc. 4.625% 1/15/2027<sup>1</sup> |  | 1060 | 987 |
| Albertsons Companies, Inc. 5.875% 2/15/2028<sup>1</sup> |  | 190 | 181 |
| Albertsons Companies, Inc. 3.50% 3/15/2029<sup>1</sup> |  | 3468 | 2917 |
| Albertsons Companies, Inc. 4.875% 2/15/2030<sup>1</sup> |  | 615 | 550 |
| B&G Foods, Inc. 5.25% 4/1/2025 |  | 1377 | 1210 |
| B&G Foods, Inc. 5.25% 9/15/2027 |  | 2093 | 1608 |
| Central Garden & Pet Co. 4.125% 10/15/2030 |  | 600 | 494 |
| Central Garden & Pet Co. 4.125% 4/30/2031<sup>1</sup> |  | 1005 | 833 |
| Coty, Inc. 5.00% 4/15/2026<sup>1</sup> |  | 700 | 665 |
| Coty, Inc. 6.50% 4/15/2026<sup>1</sup> |  | 460 | 442 |
| Coty, Inc. 4.75% 1/15/2029<sup>1</sup> |  | 1260 | 1142 |
| Darling Ingredients, Inc. 5.25% 4/15/2027<sup>1</sup> |  | 329 | 317 |
| Darling Ingredients, Inc. 6.00% 6/15/2030<sup>1</sup> |  | 1205 | 1180 |
| Edgewell Personal Care Co. 5.50% 6/1/2028<sup>1</sup> |  | 275 | 258 |
| Energizer Holdings, Inc. 4.375% 3/31/2029<sup>1</sup> |  | 545 | 463 |
| Ingles Markets, Inc. 4.00% 6/15/2031<sup>1</sup> |  | 345 | 291 |
| Kraft Heinz Company 3.875% 5/15/2027 |  | 275 | 263 |
| Kraft Heinz Company 4.375% 6/1/2046 |  | 306 | 250 |
| Kronos Acquisition Holdings, Inc. 5.00% 12/31/2026<sup>1</sup> |  | 1953 | 1692 |
| Kronos Acquisition Holdings, Inc. 7.00% 12/31/2027<sup>1</sup> |  | 3040 | 2504 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030<sup>1</sup> |  | 2615 | 2313 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032<sup>1</sup> |  | 715 | 626 |
| Nestle Skin Health SA, Term Loan B3, (3-month USD-LIBOR + 3.75%) 8.48% 10/1/2026<sup>4,5</sup> |  | 784 | 753 |
| Performance Food Group, Inc. 5.50% 10/15/2027<sup>1</sup> |  | 705 | 666 |
| Performance Food Group, Inc. 4.25% 8/1/2029<sup>1</sup> |  | 483 | 419 |
| Post Holdings, Inc. 5.625% 1/15/2028<sup>1</sup> |  | 1199 | 1130 |
| Post Holdings, Inc. 5.50% 12/15/2029<sup>1</sup> |  | 811 | 736 |
| Post Holdings, Inc. 4.625% 4/15/2030<sup>1</sup> |  | 3355 | 2901 |
| Post Holdings, Inc. 4.50% 9/15/2031<sup>1</sup> |  | 1350 | 1137 |
| Prestige Brands International, Inc. 5.125% 1/15/2028<sup>1</sup> |  | 103 | 97 |
| Prestige Brands International, Inc. 3.75% 4/1/2031<sup>1</sup> |  | 1275 | 1053 |
| Simmons Foods, Inc. 4.625% 3/1/2029<sup>1</sup> |  | 993 | 810 |
| TreeHouse Foods, Inc. 4.00% 9/1/2028 |  | 1415 | 1205 |
| United Natural Foods, Inc. 6.75% 10/15/2028<sup>1</sup> |  | 2030 | 1954 |
| US Foods, Inc. 4.625% 6/1/2030<sup>1</sup> |  | 460 | 406 |
|  |  |  | **34453** |
| **Real estate 3.45%** |  |  |  |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029<sup>1</sup> |  | 2213 | 1677 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030<sup>1</sup> |  | 957 | 699 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026<sup>1</sup> |  | 1304 | 1193 |
| Brookfield Property REIT, Inc. 4.50% 4/1/2027<sup>1</sup> |  | 194 | 162 |
| Forestar Group, Inc. 3.85% 5/15/2026<sup>1</sup> |  | 465 | 408 |
| Forestar Group, Inc. 5.00% 3/1/2028<sup>1</sup> |  | 92 | 79 |
| Hospitality Properties Trust 4.35% 10/1/2024 |  | 145 | 132 |
| Howard Hughes Corp. 5.375% 8/1/2028<sup>1</sup> |  | 1447 | 1306 |
| Howard Hughes Corp. 4.125% 2/1/2029<sup>1</sup> |  | 2043 | 1714 |
| Howard Hughes Corp. 4.375% 2/1/2031<sup>1</sup> |  | 2258 | 1830 |
| Iron Mountain, Inc. 4.875% 9/15/2027<sup>1</sup> |  | 1616 | 1489 |
| Iron Mountain, Inc. 5.25% 3/15/2028<sup>1</sup> |  | 1214 | 1119 |
| Iron Mountain, Inc. 5.00% 7/15/2028<sup>1</sup> |  | 367 | 330 |

---

American Funds Insurance Series 239

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Real estate (continued)** |  |  |  |
| Iron Mountain, Inc. 5.25% 7/15/2030<sup>1</sup> | USD | 2880 | $2509 |
| Iron Mountain, Inc. 4.50% 2/15/2031<sup>1</sup> |  | 950 | 783 |
| Kennedy-Wilson Holdings, Inc. 4.75% 3/1/2029 |  | 2505 | 1989 |
| Kennedy-Wilson Holdings, Inc. 4.75% 2/1/2030 |  | 2545 | 1944 |
| Kennedy-Wilson Holdings, Inc. 5.00% 3/1/2031 |  | 2050 | 1546 |
| Ladder Capital Finance Holdings LLLP 5.25% 10/1/2025<sup>1</sup> |  | 740 | 697 |
| Ladder Capital Finance Holdings LLLP 4.25% 2/1/2027<sup>1</sup> |  | 1429 | 1203 |
| Ladder Capital Finance Holdings LLLP 4.75% 6/15/2029<sup>1</sup> |  | 100 | 81 |
| Medical Properties Trust, Inc. 5.00% 10/15/2027 |  | 638 | 538 |
| Medical Properties Trust, Inc. 3.50% 3/15/2031 |  | 239 | 164 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029<sup>1</sup> |  | 820 | 695 |
| RHP Hotel Properties, LP 4.50% 2/15/2029<sup>1</sup> |  | 535 | 462 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029<sup>1</sup> |  | 800 | 650 |
| VICI Properties, LP 3.50% 2/15/2025<sup>1</sup> |  | 261 | 247 |
| VICI Properties, LP 4.625% 6/15/2025<sup>1</sup> |  | 620 | 595 |
| VICI Properties, LP 3.875% 2/15/2029<sup>1</sup> |  | 1111 | 975 |
| VICI Properties, LP 4.625% 12/1/2029<sup>1</sup> |  | 184 | 168 |
| VICI Properties, LP 4.125% 8/15/2030<sup>1</sup> |  | 330 | 289 |
| WeWork Companies, LLC 5.00% 7/10/2025<sup>1</sup> |  | 2985 | 992 |
|  |  |  | **28665** |
| **Utilities 3.20%** |  |  |  |
| AmeriGas Partners, LP 5.875% 8/20/2026 |  | 80 | 76 |
| AmeriGas Partners, LP 5.75% 5/20/2027 |  | 324 | 302 |
| Calpine Corp. 4.50% 2/15/2028<sup>1</sup> |  | 150 | 134 |
| Calpine Corp. 5.125% 3/15/2028<sup>1</sup> |  | 518 | 463 |
| Calpine Corp. 3.75% 3/1/2031<sup>1</sup> |  | 500 | 403 |
| DPL, Inc. 4.125% 7/1/2025 |  | 555 | 522 |
| Emera, Inc. 6.75% 6/15/2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)<sup>7</sup> |  | 1155 | 1113 |
| FirstEnergy Corp. 2.65% 3/1/2030 |  | 624 | 510 |
| FirstEnergy Corp. 2.25% 9/1/2030 |  | 980 | 780 |
| FirstEnergy Corp. 7.375% 11/15/2031 |  | 337 | 380 |
| FirstEnergy Corp. 3.40% 3/1/2050 |  | 510 | 337 |
| FirstEnergy Corp., Series C, 5.35% 7/15/2047<sup>7</sup> |  | 475 | 425 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028<sup>1</sup> |  | 265 | 232 |
| FirstEnergy Transmission, LLC 4.55% 4/1/2049<sup>1</sup> |  | 100 | 81 |
| NextEra Energy Partners, LP 4.25% 7/15/2024<sup>1</sup> |  | 122 | 118 |
| NRG Energy, Inc. 3.625% 2/15/2031<sup>1</sup> |  | 845 | 644 |
| Pacific Gas and Electric Co. 5.45% 6/15/2027 |  | 335 | 331 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027 |  | 116 | 99 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027 |  | 124 | 110 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028 |  | 10 | 9 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030 |  | 213 | 194 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031 |  | 393 | 306 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031 |  | 107 | 87 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040 |  | 280 | 190 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050 |  | 1000 | 625 |
| PG&E Corp. 5.00% 7/1/2028 |  | 3150 | 2881 |
| PG&E Corp. 5.25% 7/1/2030 |  | 3040 | 2771 |
| Talen Energy Corp. 10.50% 1/15/2026<sup>1,2</sup> |  | 2987 | 1434 |
| Talen Energy Corp. 7.25% 5/15/2027<sup>1</sup> |  | 5189 | 5395 |
| Talen Energy Corp. 6.625% 1/15/2028<sup>1</sup> |  | 130 | 133 |
| Talen Energy Corp., Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.008% 11/13/2023<sup>4,5</sup> |  | 3085 | 3116 |
| Talen Energy Corp., Term Loan B, (3-month USD-LIBOR + 3.75%) 7.821% 7/8/2026<sup>4,5</sup> |  | 500 | 508 |
| Talen Energy Supply, LLC 7.625% 6/1/2028<sup>1</sup> |  | 489 | 511 |

---

240 American Funds Insurance Series

American High-Income Trust (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Corporate bonds, notes & loans (continued)** |  |  |  |
| **Utilities (continued)** |  |  |  |
| Targa Resources Partners, LP 4.00% 1/15/2032 | USD | 190 | $160 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029<sup>1</sup> |  | 1190 | 1043 |
| Vistra Operations Co., LLC 3.55% 7/15/2024<sup>1</sup> |  | 231 | 222 |
|  |  |  | **26645** |
| **Total corporate bonds, notes & loans** |  |  | **736042** |
| **Mortgage-backed obligations 0.08%** |  |  |  |
| **Collateralized mortgage-backed obligations 0.08%** |  |  |  |
| Treehouse Park Improvement Association No.1 - Anleihen 9.75% 12/1/2033<sup>1,3</sup> |  | **712** | **630** |
| **Total bonds, notes & other debt instruments** (cost: $842,910,000) |  |  | **736672** |
| **Convertible bonds & notes 0.06%** |  |  |  |
| **Communication services 0.05%** |  |  |  |
| DISH DBS Corp., convertible notes, 3.375% 8/15/2026 |  | **635** | **399** |
| **Energy 0.01%** |  |  |  |
| Mesquite Energy, Inc., convertible notes, 13.14% Cash 7/15/2023<sup>1,3,6</sup> |  | **79** | **79** |
| **Total convertible bonds & notes** (cost: $720,000) |  |  | **478** |
| **Convertible stocks 0.11%** |  | Shares |  |
| **Utilities 0.06%** |  |  |  |
| PG&E Corp., convertible preferred units, 5.50% 8/16/2023 |  | **3350** | **483** |
| **Financials 0.05%** |  |  |  |
| 2020 Cash Mandatory Exchangeable Trust, convertible preferred shares, 5.25% 6/1/2023<sup>1</sup> |  | **411** | **472** |
| **Total convertible stocks** (cost: $657,000) |  |  | **955** |
| **Common stocks 4.45%** |  |  |  |
| **Health care 2.60%** |  |  |  |
| Rotech Healthcare, Inc.<sup>3,8,9</sup> |  | **201793** | **21591** |
| **Energy 1.15%** |  |  |  |
| Chesapeake Energy Corp. |  | 29829 | 2815 |
| Weatherford International<sup>8</sup> |  | 33659 | 1714 |
| Ascent Resources - Utica, LLC, Class A<sup>3,8,9</sup> |  | 6297894 | 1260 |
| Denbury, Inc.<sup>8</sup> |  | 13380 | 1164 |
| Diamond Offshore Drilling, Inc.<sup>8</sup> |  | 110972 | 1154 |
| California Resources Corp. |  | 17202 | 748 |
| Constellation Oil Services Holding SA, Class B-1<sup>3,8</sup> |  | 3449949 | 380 |
| Altera Infrastructure, LP<sup>3,8</sup> |  | 3550 | 282 |
| McDermott International, Ltd.<sup>8</sup> |  | 82509 | 26 |
| Mesquite Energy, Inc.<sup>3,8</sup> |  | 3558 | 21 |
| Bighorn Permian Resources, LLC<sup>3</sup> |  | 2894 | —<sup>10</sup> |
|  |  |  | **9564** |
| **Financials 0.32%** |  |  |  |
| Jonah Energy Parent, LLC<sup>3</sup> |  | 38716 | 2289 |
| Navient Corp. |  | 20000 | 329 |
|  |  |  | **2618** |

---

American Funds Insurance Series 241

American High-Income Trust (continued)

---

| | | |
|:---|:---|:---|
| **Common stocks** (continued) | Shares | Value <br> (000) |
| **Consumer discretionary 0.29%** |  |  |
| NMG Parent, LLC<sup>8</sup> | 9965 | $1520 |
| MYT Holding Co., Class B<sup>3,8</sup> | 608846 | 913 |
|  |  | **2433** |
| **Information technology 0.05%** |  |  |
| MoneyGram International, Inc.<sup>8</sup> | **41400** | **451** |
| **Communication services 0.04%** |  |  |
| Intelsat SA<sup>3,8</sup> | 8164 | 196 |
| iHeartMedia, Inc., Class A<sup>8</sup> | 22639 | 139 |
|  |  | **335** |
| **Total common stocks** (cost: $13,251,000) |  | **36992** |
| **Preferred securities 0.32%** |  |  |
| **Consumer discretionary 0.27%** |  |  |
| MYT Holdings, LLC, Series A, 10.00% preferred shares<sup>3,8</sup> | **2095904** | **2201** |
| **Industrials 0.05%** |  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares<sup>1,3,8</sup> | **1022** | **428** |
| **Total preferred securities** (cost: $2,933,000) |  | **2629** |
| **Rights & warrants 0.10%** |  |  |
| **Consumer discretionary 0.10%** |  |  |
| NMG Parent, LLC, warrants, expire 9/24/2027<sup>8</sup> | **27111** | **826** |
| **Communication services 0.00%** |  |  |
| Intelsat Jackson Holdings SA (CVR), Series A<sup>3,8</sup> | 855 | 6 |
| Intelsat Jackson Holdings SA (CVR), Series B<sup>3,8</sup> | 855 | 6 |
|  |  | **12** |
| **Total rights & warrants** (cost: $173,000) |  | **838** |
| **Short-term securities 4.64%** |  |  |
| **Money market investments 4.64%** |  |  |
| Capital Group Central Cash Fund 4.31%<sup>11,12</sup> | **385690** | **38565** |
| **Total short-term securities** (cost: $38,557,000) |  | **38565** |
| **Total investment securities 98.27%** (cost: $899,201,000) |  | **817129** |
| Other assets less liabilities 1.73% |  | 14425 |
| **Net assets 100.00%** |  | $**831554** |

---

242 American Funds Insurance Series

American High-Income Trust (continued)

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 63 | March 2023 | USD | 6799 | $(98) |
| 10 Year U.S. Treasury Note Futures | Short | 14 | March 2023 |  | (1572) | 10 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 1 | March 2023 |  | (134) | —<sup>10</sup> |
|  |  |  |  |  |  | $(88) |

---

**Swap contracts**

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> index** | **Financing<br> rate paid** | **Payment<br> frequency** | **Expiration<br> date** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value at<br> 12/31/2022<br> (000)** | **Upfront<br> premium<br> paid<br> (000)** | **Unrealized<br> depreciation<br> at 12/31/2022<br> (000)** |
| CDX.NA.HY.39 | 5.00% | Quarterly | 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;USD | 8050 | $(50) | $104 | $(154) |

---

**Investments in affiliates<sup>12</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliate at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> appreciation<br> (000)** | **Value of<br> affiliate at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** |
| **Short-term securities 4.64%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Money market investments 4.64%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Group Central Cash Fund 4.31%<sup>11</sup> | $17238 | $219950 | $198620 | $(7) | $4 | $38565 | $610 |

---

**Restricted securities<sup>9</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Acquisition<br> date | Cost<br> (000) | Value<br> (000) | Percent<br> of net<br> assets |
| Rotech Healthcare, Inc.<sup>3,8</sup> | 9/26/2013 | $4331 | $21591 | 2.60% |
| Ascent Resources - Utica, LLC, Class A<sup>3,8</sup> | 11/15/2016 | 302 | 1260 | .15 |
| **Total** |  | $4633 | $22851 | 2.75% |

---

American Funds Insurance Series 243

American High-Income Trust (continued)

<sup>1</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $544,764,000, which represented 65.51% of the net assets of the fund.

<sup>2</sup> Scheduled interest and/or principal payment was not received.

<sup>3</sup> Value determined using significant unobservable inputs.

<sup>4</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $25,672,000, which represented 3.09% of the net assets of the fund.

<sup>5</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>6</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.

<sup>7</sup> Step bond; coupon rate may change at a later date.

<sup>8</sup> Security did not produce income during the last 12 months.

<sup>9</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $22,851,000, which represented 2.75% of the net assets of the fund.

<sup>10</sup> Amount less than one thousand.

<sup>11</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>12</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviations**

CME = CME Group

CVR = Contingent Value Rights

DAC = Designated Activity Company

EUR = Euros

EURIBOR = Euro Interbank Offered Rate

LIBOR = London Interbank Offered Rate

PIK = Payment In Kind

REIT = Real Estate Investment Trust

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

244 American Funds Insurance Series

American Funds Mortgage Fund

**Investment portfolio** December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 94.91%** | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations 80.19%** |  |  |  |
| **Federal agency mortgage-backed obligations 77.35%** |  |  |  |
| Fannie Mae Pool #695412 5.00% 6/1/2033<sup>1</sup> | USD | —<sup>2</sup> | $—<sup>2</sup> |
| Fannie Mae Pool #AD3566 5.00% 10/1/2035<sup>1</sup> |  | 2 | 2 |
| Fannie Mae Pool #256583 5.00% 12/1/2036<sup>1</sup> |  | 32 | 32 |
| Fannie Mae Pool #931768 5.00% 8/1/2039<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040<sup>1</sup> |  | 2 | 2 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041<sup>1</sup> |  | 8 | 8 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041<sup>1</sup> |  | 19 | 16 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041<sup>1</sup> |  | 7 | 6 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041<sup>1</sup> |  | 7 | 7 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #MA4501 2.00% 12/1/2041<sup>1</sup> |  | 370 | 312 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041<sup>1</sup> |  | 2 | 2 |
| Fannie Mae Pool #MA4540 2.00% 2/1/2042<sup>1</sup> |  | 530 | 447 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042<sup>1</sup> |  | 4 | 4 |
| Fannie Mae Pool #MA4570 2.00% 3/1/2042<sup>1</sup> |  | 120 | 102 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043<sup>1</sup> |  | 2 | 2 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044<sup>1</sup> |  | 2 | 2 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045<sup>1</sup> |  | 374 | 346 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047<sup>1</sup> |  | 39 | 37 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048<sup>1</sup> |  | 20 | 19 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048<sup>1</sup> |  | 27 | 25 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048<sup>1</sup> |  | 8 | 8 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049<sup>1</sup> |  | 98 | 91 |
| Fannie Mae Pool #CA5496 3.00% 4/1/2050<sup>1,3</sup> |  | 1215 | 1089 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050<sup>1</sup> |  | 54 | 46 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050<sup>1</sup> |  | 560 | 482 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050<sup>1</sup> |  | 126 | 109 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050<sup>1</sup> |  | 82 | 70 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050<sup>1</sup> |  | 13 | 10 |
| Fannie Mae Pool #CA8955 2.50% 2/1/2051<sup>1</sup> |  | 66 | 57 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051<sup>1</sup> |  | 116 | 95 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #CB0041 3.00% 4/1/2051<sup>1</sup> |  | 211 | 188 |
| Fannie Mae Pool #FM7687 3.00% 6/1/2051<sup>1</sup> |  | 278 | 247 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051<sup>1</sup> |  | 28 | 24 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051<sup>1</sup> |  | 450 | 382 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051<sup>1</sup> |  | 3 | 2 |
| Fannie Mae Pool #FM9492 2.50% 11/1/2051<sup>1</sup> |  | 464 | 397 |
| Fannie Mae Pool #FM9694 2.50% 11/1/2051<sup>1</sup> |  | 230 | 197 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051<sup>1</sup> |  | 764 | 653 |
| Fannie Mae Pool #BU3058 2.50% 12/1/2051<sup>1</sup> |  | 295 | 251 |
| Fannie Mae Pool #FM9804 2.50% 12/1/2051<sup>1</sup> |  | 247 | 212 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051<sup>1</sup> |  | 100 | 89 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052<sup>1</sup> |  | 280 | 248 |
| Fannie Mae Pool #BV3870 2.50% 2/1/2052<sup>1</sup> |  | 405 | 344 |
| Fannie Mae Pool #FS0523 2.50% 2/1/2052<sup>1</sup> |  | 380 | 325 |
| Fannie Mae Pool #BV8569 2.50% 4/1/2052<sup>1</sup> |  | 1274 | 1081 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052<sup>1</sup> |  | 204 | 173 |
| Fannie Mae Pool #CB4274 2.50% 7/1/2052<sup>1</sup> |  | 179 | 152 |
| Fannie Mae Pool #BW0004 3.50% 7/1/2052<sup>1</sup> |  | 300 | 273 |
| Fannie Mae Pool #CB4159 4.00% 7/1/2052<sup>1</sup> |  | 22 | 20 |
| Fannie Mae Pool #MA4700 4.00% 8/1/2052<sup>1</sup> |  | 1967 | 1847 |
| Fannie Mae Pool #BV8024 4.00% 8/1/2052<sup>1</sup> |  | 28 | 26 |
| Fannie Mae Pool #BW7326 4.00% 9/1/2052<sup>1</sup> |  | 24 | 22 |
| Fannie Mae Pool #BW9348 4.00% 9/1/2052<sup>1</sup> |  | 21 | 20 |
| Fannie Mae Pool #BW8103 4.00% 9/1/2052<sup>1</sup> |  | 20 | 18 |
| Fannie Mae Pool #BW9823 4.50% 9/1/2052<sup>1</sup> |  | 45 | 44 |

---

American Funds Insurance Series 245

American Funds Mortgage Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #CB5208 5.00% 9/1/2052<sup>1</sup> | USD | 599 | $591 |
| Fannie Mae Pool #BW8980 4.00% 10/1/2052<sup>1</sup> |  | 77 | 72 |
| Fannie Mae Pool #BW1210 4.00% 10/1/2052<sup>1</sup> |  | 58 | 54 |
| Fannie Mae Pool #BW7356 4.00% 10/1/2052<sup>1</sup> |  | 48 | 45 |
| Fannie Mae Pool #BX0509 4.00% 10/1/2052<sup>1</sup> |  | 21 | 20 |
| Fannie Mae Pool #BW7795 4.50% 10/1/2052<sup>1</sup> |  | 477 | 460 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>1</sup> |  | 4 | 4 |
| Fannie Mae Pool #BW7121 5.00% 10/1/2052<sup>1</sup> |  | 577 | 570 |
| Fannie Mae Pool #CB5380 5.00% 10/1/2052<sup>1</sup> |  | 203 | 200 |
| Fannie Mae Pool #MA4803 3.50% 11/1/2052<sup>1</sup> |  | 38 | 34 |
| Fannie Mae Pool #MA4804 4.00% 11/1/2052<sup>1</sup> |  | 575 | 540 |
| Fannie Mae Pool #BW1310 4.00% 11/1/2052<sup>1</sup> |  | 22 | 21 |
| Fannie Mae Pool #BX1516 4.50% 11/1/2052<sup>1</sup> |  | 469 | 452 |
| Fannie Mae Pool #MA4841 5.00% 12/1/2052<sup>1</sup> |  | 1000 | 987 |
| Fannie Mae Pool #MA4866 4.00% 1/1/2053<sup>1</sup> |  | 68 | 64 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>1</sup> |  | 495 | 489 |
| Fannie Mae Pool #BF0379 3.50% 4/1/2059<sup>1</sup> |  | 146 | 134 |
| Fannie Mae Pool #BF0481 3.50% 6/1/2060<sup>1</sup> |  | 173 | 159 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060<sup>1</sup> |  | 53 | 46 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061<sup>1</sup> |  | 56 | 54 |
| Freddie Mac Pool #ZA1922 5.00% 2/1/2026<sup>1</sup> |  | 1 | 1 |
| Freddie Mac Pool #ZS8950 5.00% 10/1/2029<sup>1</sup> |  | 2 | 2 |
| Freddie Mac Pool #A18781 5.00% 3/1/2034<sup>1</sup> |  | 623 | 637 |
| Freddie Mac Pool #RB5138 2.00% 12/1/2041<sup>1</sup> |  | 102 | 86 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042<sup>1</sup> |  | 94 | 79 |
| Freddie Mac Pool #RB5148 2.00% 3/1/2042<sup>1</sup> |  | 597 | 504 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043<sup>1</sup> |  | 1 | 1 |
| Freddie Mac Pool #760012 3.113% 4/1/2045<sup>1,4</sup> |  | 39 | 38 |
| Freddie Mac Pool #760013 3.208% 4/1/2045<sup>1,4</sup> |  | 23 | 22 |
| Freddie Mac Pool #760014 2.74% 8/1/2045<sup>1,4</sup> |  | 335 | 324 |
| Freddie Mac Pool #760015 2.561% 1/1/2047<sup>1,4</sup> |  | 63 | 60 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047<sup>1</sup> |  | 18 | 17 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047<sup>1</sup> |  | 28 | 26 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048<sup>1</sup> |  | 20 | 19 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048<sup>1</sup> |  | 19 | 18 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048<sup>1</sup> |  | 10 | 9 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048<sup>1</sup> |  | 28 | 27 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048<sup>1</sup> |  | 51 | 51 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048<sup>1</sup> |  | 28 | 27 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048<sup>1</sup> |  | 20 | 20 |
| Freddie Mac Pool #RA1339 3.00% 9/1/2049<sup>1,3</sup> |  | 1531 | 1360 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049<sup>1</sup> |  | 19 | 18 |
| Freddie Mac Pool #SD7512 3.00% 2/1/2050<sup>1</sup> |  | 160 | 143 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050<sup>1</sup> |  | 597 | 488 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051<sup>1</sup> |  | 2 | 2 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051<sup>1</sup> |  | 3 | 3 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051<sup>1</sup> |  | 327 | 268 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051<sup>1</sup> |  | 80 | 65 |
| Freddie Mac Pool #SD7548 2.50% 11/1/2051<sup>1</sup> |  | 1100 | 947 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051<sup>1</sup> |  | 68 | 58 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052<sup>1</sup> |  | 396 | 338 |
| Freddie Mac Pool #RA6598 3.50% 1/1/2052<sup>1</sup> |  | 196 | 179 |
| Freddie Mac Pool #SD7550 3.00% 2/1/2052<sup>1</sup> |  | 404 | 361 |
| Freddie Mac Pool #SD0873 3.50% 2/1/2052<sup>1,3</sup> |  | 1203 | 1113 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052<sup>1</sup> |  | 9 | 9 |
| Freddie Mac Pool #SD1450 2.50% 3/1/2052<sup>1</sup> |  | 3355 | 2879 |
| Freddie Mac Pool #SD7553 3.00% 3/1/2052<sup>1</sup> |  | 325 | 289 |
| Freddie Mac Pool #QE6097 2.50% 7/1/2052<sup>1</sup> |  | 197 | 168 |
| Freddie Mac Pool #SD8237 4.00% 8/1/2052<sup>1</sup> |  | 1523 | 1430 |
| Freddie Mac Pool #QE9057 4.00% 8/1/2052<sup>1</sup> |  | 18 | 17 |
| Freddie Mac Pool #SD8238 4.50% 8/1/2052<sup>1</sup> |  | 10 | 10 |

---

246 American Funds Insurance Series

American Funds Mortgage Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #SD8244 4.00% 9/1/2052<sup>1</sup> | USD | 651 | $612 |
| Freddie Mac Pool #QE9625 4.00% 9/1/2052<sup>1</sup> |  | 23 | 21 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052<sup>1</sup> |  | 715 | 706 |
| Freddie Mac Pool #QF1464 4.00% 10/1/2052<sup>1</sup> |  | 22 | 21 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052<sup>1</sup> |  | 14 | 13 |
| Freddie Mac Pool #SD8264 3.50% 11/1/2052<sup>1</sup> |  | 1232 | 1121 |
| Freddie Mac Pool #SD8273 3.50% 11/1/2052<sup>1</sup> |  | 124 | 112 |
| Freddie Mac Pool #QF3364 4.00% 11/1/2052<sup>1</sup> |  | 35 | 33 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052<sup>1</sup> |  | 407 | 400 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052<sup>1</sup> |  | 920 | 944 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>1</sup> |  | 1793 | 1728 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052<sup>1</sup> |  | 55 | 54 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053<sup>1</sup> |  | 210 | 197 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>1</sup> |  | 132 | 130 |
| Freddie Mac Pool #SD8282 6.50% 1/1/2053<sup>1</sup> |  | 200 | 205 |
| Freddie Mac, Series K152, Class A2, Multi Family, 3.80% 10/25/2032<sup>1,4</sup> |  | 207 | 196 |
| Freddie Mac, Series K152, Class A2, Multi Family, 3.78% 11/25/2032<sup>1</sup> |  | 1767 | 1671 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056<sup>1,4</sup> |  | 134 | 126 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056<sup>1</sup> |  | 101 | 91 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056<sup>1</sup> |  | 209 | 194 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056<sup>1,4</sup> |  | 155 | 145 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057<sup>1</sup> |  | 112 | 98 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057<sup>1</sup> |  | 147 | 140 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/2058<sup>1</sup> |  | 31 | 28 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058<sup>1</sup> |  | 18 | 17 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/2028<sup>1</sup> |  | 306 | 293 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028<sup>1</sup> |  | 14 | 13 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032<sup>1</sup> |  | 469 | 453 |
| Government National Mortgage Assn. 2.00% 1/1/2053<sup>1,5</sup> |  | 174 | 146 |
| Government National Mortgage Assn. 2.50% 1/1/2053<sup>1,5</sup> |  | 207 | 180 |
| Government National Mortgage Assn. 3.00% 1/1/2053<sup>1,5</sup> |  | 388 | 346 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>1,5</sup> |  | 178 | 163 |
| Government National Mortgage Assn. 5.00% 1/1/2053<sup>1,5</sup> |  | 7330 | 7264 |
| Government National Mortgage Assn. 5.50% 1/1/2053<sup>1,5</sup> |  | 1198 | 1205 |
| Government National Mortgage Assn. Pool #AH5894 3.75% 5/20/2034<sup>1</sup> |  | 693 | 678 |
| Government National Mortgage Assn. Pool #AD0028 3.75% 7/20/2038<sup>1</sup> |  | 510 | 488 |
| Government National Mortgage Assn. Pool #004410 4.00% 4/20/2039<sup>1</sup> |  | 54 | 52 |
| Government National Mortgage Assn. Pool #AH5897 3.75% 7/20/2039<sup>1</sup> |  | 526 | 502 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039<sup>1</sup> |  | 81 | 86 |
| Government National Mortgage Assn. Pool #004823 4.00% 10/20/2040<sup>1</sup> |  | 83 | 79 |
| Government National Mortgage Assn. Pool #005104 5.00% 6/20/2041<sup>1</sup> |  | 169 | 170 |
| Government National Mortgage Assn. Pool #005142 4.50% 8/20/2041<sup>1</sup> |  | 12 | 12 |
| Government National Mortgage Assn. Pool #005165 6.50% 8/20/2041<sup>1</sup> |  | 83 | 84 |
| Government National Mortgage Assn. Pool #AA5326 3.50% 5/20/2042<sup>1</sup> |  | 131 | 119 |
| Government National Mortgage Assn. Pool #MA0366 3.50% 6/20/2042<sup>1</sup> |  | 198 | 182 |
| Government National Mortgage Assn. Pool #AD4360 3.50% 7/20/2043<sup>1</sup> |  | 90 | 84 |
| Government National Mortgage Assn. Pool #AH5884 4.25% 7/20/2044<sup>1</sup> |  | 1034 | 997 |
| Government National Mortgage Assn. Pool #MA8347 4.50% 10/20/2052<sup>1</sup> |  | 800 | 777 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052<sup>1</sup> |  | 140 | 133 |
| Government National Mortgage Assn. Pool #MA8427 4.50% 11/20/2052<sup>1</sup> |  | 1852 | 1798 |

---

American Funds Insurance Series 247

American Funds Mortgage Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Government National Mortgage Assn. Pool #MA8489 4.50% 12/20/2052<sup>1</sup> | USD | 100 | $97 |
| Government National Mortgage Assn. Pool #AN1825 4.619% 6/20/2065<sup>1</sup> |  | 195 | 192 |
| Government National Mortgage Assn. Pool #AO0461 4.628% 8/20/2065<sup>1</sup> |  | 65 | 64 |
| Government National Mortgage Assn. Pool #AO0409 4.617% 12/20/2065<sup>1</sup> |  | 128 | 126 |
| Government National Mortgage Assn. Pool #AO0385 4.498% 1/20/2066<sup>1</sup> |  | 519 | 510 |
| Government National Mortgage Assn. Pool #725897 5.20% 1/20/2066<sup>1</sup> |  | 1 | 1 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2038<sup>1,5</sup> |  | 125 | 122 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2053<sup>1,5</sup> |  | 1191 | 969 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2053<sup>1,5</sup> |  | 1882 | 1812 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>1,5</sup> |  | 4837 | 4851 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2053<sup>1,5</sup> |  | 1958 | 1988 |
| Uniform Mortgage-Backed Security 6.50% 1/1/2053<sup>1,5</sup> |  | 3690 | 3780 |
| Uniform Mortgage-Backed Security 4.00% 2/1/2053<sup>1,5</sup> |  | 130 | 122 |
| Uniform Mortgage-Backed Security 6.00% 2/1/2053<sup>1,5</sup> |  | 1132 | 1148 |
|  |  |  | **68880** |
| **Collateralized mortgage-backed obligations (privately originated) 1.79%** | **Collateralized mortgage-backed obligations (privately originated) 1.79%** | **Collateralized mortgage-backed obligations (privately originated) 1.79%** |  |
| Cascade Funding Mortgage Trust, Series 2020-HB4, Class A, 0.946% 12/26/2030<sup>1,4,6</sup> |  | 74 | 72 |
| Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/2031<sup>1,4,6</sup> |  | 95 | 89 |
| Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 6/25/2036<sup>1,4,6</sup> |  | 306 | 291 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061<sup>1,4,6</sup> |  | 181 | 171 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066<sup>1,4,6</sup> |  | 87 | 74 |
| Credit Suisse Mortgage Trust, Series 2017-RPL3, Class A1, 2.00% 1/25/2060<sup>1,4,6</sup> |  | 159 | 137 |
| GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/2066<sup>1,4,6</sup> |  | 28 | 24 |
| GS Mortgage-Backed Securities Trust, Series 2022-PJ5, Class A4, 2.50% 10/25/2052<sup>1,4,6</sup> |  | 212 | 171 |
| Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 5.239% 11/25/2055<sup>1,4,6</sup> |  | 175 | 169 |
| Mill City Mortgage Trust, Series 15-1, Class M2, 3.616% 6/25/2056<sup>1,4,6</sup> |  | 38 | 37 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2022-J1, Class A2, 2.50% 2/25/2052<sup>1,4,6</sup> |  | 138 | 111 |
| Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/2031<sup>1,4,6</sup> |  | 95 | 89 |
| Towd Point Mortgage Trust, Series 2015-4, Class M2, 3.75% 4/25/2055<sup>1,4,6</sup> |  | 100 | 97 |
| Towd Point Mortgage Trust, Series 2015-4, Class M1, 3.75% 4/25/2055<sup>1,4,6</sup> |  | 10 | 10 |
| Towd Point Mortgage Trust, Series 2016-5, Class A1, 2.50% 10/25/2056<sup>1,4,6</sup> |  | 41 | 41 |
| Towd Point Mortgage Trust, Series 2017-5, Class A1, 4.989% 2/25/2057<sup>1,4,6</sup> |  | 10 | 10 |
|  |  |  | **1593** |
| **Commercial mortgage-backed securities 1.05%** |  |  |  |
| BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class A, (1-month USD CME Term SOFR + 1.77%) 6.105% 5/15/2039<sup>1,4,6</sup> |  | 100 | 98 |
| BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.45% 6/15/2027<sup>1,4,6</sup> |  | 100 | 99 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 5.217% 10/15/2036<sup>1,4,6</sup> |  | 606 | 578 |
| LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A, (1-month USD-LIBOR + 1.05%) 5.368% 10/15/2038<sup>1,4,6</sup> |  | 164 | 158 |
|  |  |  | **933** |
| **Total mortgage-backed obligations** |  |  | **71406** |
| **U.S. Treasury bonds & notes 12.04%** |  |  |  |
| **U.S. Treasury inflation-protected securities 10.83%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2023<sup>7</sup> |  | 714 | 713 |
| U.S. Treasury Inflation-Protected Security 0.625% 4/15/2023<sup>7</sup> |  | 355 | 352 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2023<sup>7</sup> |  | 522 | 516 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2024<sup>3,7</sup> |  | 3621 | 3546 |
| U.S. Treasury Inflation-Protected Security 0.50% 4/15/2024<sup>7</sup> |  | 2024 | 1970 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>7</sup> |  | 658 | 637 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>7</sup> |  | 107 | 104 |

---

248 American Funds Insurance Series

American Funds Mortgage Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury inflation-protected securities (continued)** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026<sup>7</sup> | USD | 65 | $61 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031<sup>7</sup> |  | 1202 | 1067 |
| U.S. Treasury Inflation-Protected Security 0.75% 2/15/2042<sup>7</sup> |  | 426 | 357 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049<sup>7</sup> |  | 385 | 322 |
|  |  |  | **9645** |
| **U.S. Treasury 1.21%** |  |  |  |
| U.S. Treasury 0.875% 1/31/2024 |  | 10 | 9 |
| U.S. Treasury 1.25% 8/15/2031 |  | 443 | 360 |
| U.S. Treasury 1.875% 2/15/2032 |  | 10 | 8 |
| U.S. Treasury 1.875% 2/15/2041<sup>3</sup> |  | 690 | 489 |
| U.S. Treasury 2.375% 2/15/2042 |  | 150 | 115 |
| U.S. Treasury 3.25% 5/15/2042 |  | 60 | 53 |
| U.S. Treasury 1.875% 11/15/2051 |  | 65 | 41 |
|  |  |  | **1075** |
| **Total U.S. Treasury bonds & notes** |  |  | **10720** |
| **Asset-backed obligations 2.68%** |  |  |  |
| Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD-LIBOR + 1.00%) 5.675% 11/20/2030<sup>1,4,6</sup> |  | 250 | 247 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033<sup>1,6</sup> |  | 54 | 50 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 10/17/2034<sup>1,6</sup> |  | 54 | 51 |
| Capital One Multi-Asset Execution Trust, Series 2022-A3, Class A, 4.95% 10/15/2027<sup>1</sup> |  | 540 | 545 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060<sup>1,6</sup> |  | 286 | 256 |
| CPS Auto Receivables Trust, Series 2022-B, Class A, 2.88% 6/15/2026<sup>1,6</sup> |  | 67 | 66 |
| Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 12/26/2025<sup>1,6</sup> |  | 86 | 79 |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069<sup>1,6</sup> |  | 116 | 101 |
| Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 10/15/2069<sup>1,6</sup> |  | 215 | 183 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062<sup>1,6</sup> |  | 193 | 171 |
| Nelnet Student Loan Trust, Series 2021-C, Class AFL, (1-month USD-LIBOR + 0.74%) 5.093% 4/20/2062<sup>1,4,6</sup> |  | 160 | 155 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061<sup>1,6</sup> |  | 530 | 449 |
| Santander Drive Auto Receivables Trust, Series 2022-6, Class A2, 4.37% 5/15/2025<sup>1</sup> |  | 35 | 35 |
|  |  |  | **2388** |
| **Total bonds, notes & other debt instruments** (cost: $87,116,000) |  |  | **84514** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities 25.67%** | Weighted<br> average yield<br> at acquisition |  |  |
| **Commercial paper 14.04%** |  |  |  |
| Chariot Funding, LLC 1/27/2023<sup>6</sup> | 4.150% | 2000 | 1993 |
| Citigroup Global Markets, Inc. 2/21/2023<sup>6</sup> | 4.580 | 2000 | 1987 |
| Henkel of America, Inc. 2/1/2023<sup>6</sup> | 4.300 | 2000 | 1992 |
| Honeywell International, Inc. 2/1/2023<sup>6</sup> | 4.100 | 2000 | 1992 |
| Johnson & Johnson 1/30/2023<sup>6</sup> | 4.190 | 1000 | 996 |
| Procter & Gamble Co. 2/9/2023<sup>6</sup> | 4.300 | 500 | 498 |
| Procter & Gamble Co. 2/10/2023<sup>6</sup> | 4.250 | 1500 | 1492 |
| Roche Holdings, Inc. 1/3/2023<sup>6</sup> | 4.230 | 1050 | 1050 |
| Starbird Funding Corp. 1/3/2023<sup>6</sup> | 4.300 | 500 | 500 |
|  |  |  | **12500** |

---

American Funds Insurance Series 249

American Funds Mortgage Fund (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Federal agency bills & notes 11.63%** |  |  |  |  |
| Federal Farm Credit Banks 1/12/2023 | 3.880% | USD | 4500 | $4495 |
| Federal Home Loan Bank 1/11/2023 | 4.120 |  | 1500 | 1498 |
| Federal Home Loan Bank 2/28/2023 | 4.350 |  | 1500 | 1490 |
| Federal Home Loan Bank 3/3/2023 | 4.370 |  | 1000 | 993 |
| Federal Home Loan Bank 3/22/2023 | 4.440 |  | 1000 | 990 |
| Federal Home Loan Bank 3/24/2023 | 4.462 |  | 900 | 891 |
|  |  |  |  | **10357** |
| **Total short-term securities** (cost: $22,859,000) |  |  |  | **22857** |
| **Total investment securities 120.58%** (cost: $109,975,000) | **Total investment securities 120.58%** (cost: $109,975,000) | **Total investment securities 120.58%** (cost: $109,975,000) |  | **107371** |
| Other assets less liabilities (20.58)% |  |  |  | (18328) |
| **Net assets 100.00%** |  |  |  | $**89043** |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2022<br> (000)** |
| 3 Month SOFR Futures | Short | 12 | June 2023 | USD | (2853) | $49 |
| 2 Year U.S. Treasury Note Futures | Short | 5 | March 2023 |  | (1025) | (1) |
| 5 Year U.S. Treasury Note Futures | Long | 144 | March 2023 |  | 15542 | (19) |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 47 | March 2023 |  | 5559 | (60) |
| 10 Year U.S. Treasury Note Futures | Long | 5 | March 2023 |  | 562 | (3) |
| 20 Year U.S. Treasury Bond Futures | Long | 18 | March 2023 |  | 2256 | (28) |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 12 | March 2023 |  | 1612 | (13) |
|  |  |  |  |  |  | $(75) |

---

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | |  |  | | | |
| **Rate** | **Payment<br> frequency** | **Rate** | **Payment<br> frequency** | <br>**Expiration<br> date** | **Notional<br> amount<br> (000** | **Notional<br> amount<br> (000** |<br>**Value at<br> 12/31/2022<br> (000)** | **Upfront**<br>**premium<br> paid<br> (000)** | **Unrealized**<br>**appreciation<br> at 12/31/2022<br> (000)** |
| 3-month USD-LIBOR | Quarterly | 0.81% | Semi-annual | 7/28/2045 | USD | 1800 | $795 | $5 | $790 |

---

<sup>1</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>2</sup> Amount less than one thousand.

<sup>3</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $692,000, which represented .78% of the net assets of the fund.

<sup>4</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

<sup>5</sup> Purchased on a TBA basis.

<sup>6</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $16,834,000, which represented 18.91% of the net assets of the fund.

<sup>7</sup> Index-linked bond whose principal amount moves with a government price index.

250 American Funds Insurance Series

American Funds Mortgage Fund (continued)

**Key to abbreviations**

Assn. = Association

CLO = Collateralized Loan Obligations

CME = CME Group

LIBOR = London Interbank Offered Rate

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Insurance Series 251

Ultra-Short Bond Fund

**Investment portfolio** December 31, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities 97.99%** | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper 76.48%** |  |  |  |  |
| British Columbia (Province of) 3/6/2023 | 4.470% | USD | 7400 | $7339 |
| CAFCO, LLC 2/3/2023<sup>1</sup> | 4.300 |  | 1250 | 1245 |
| Caisse des Dépôts et Consignations 3/9/2023 | 4.490 |  | 12000 | 11899 |
| Canadian Imperial Holdings, Inc. 1/9/2023 | 4.080 |  | 10000 | 9988 |
| Chariot Funding, LLC 1/23/2023<sup>1</sup> | 4.400 |  | 5000 | 4985 |
| CHARTA, LLC 1/17/2023<sup>1</sup> | 4.330 |  | 10000 | 9978 |
| DBS Bank, Ltd. 3/14/2023<sup>1</sup> | 4.548 |  | 10000 | 9906 |
| DNB Bank ASA 3/13/2023<sup>1</sup> | 4.535 |  | 13000 | 12885 |
| Export Development Canada 2/6/2023 | 4.300 |  | 11810 | 11756 |
| Fairway Finance Company, LLC 1/18/2023<sup>1</sup> | 4.250 |  | 4000 | 3991 |
| Gotham Funding Corp. 1/10/2023<sup>1</sup> | 4.200 |  | 3000 | 2996 |
| Gotham Funding Corp. 3/28/2023<sup>1</sup> | 4.600 |  | 10000 | 9883 |
| Johnson & Johnson 2/27/2023<sup>1</sup> | 4.330 |  | 8700 | 8637 |
| Johnson & Johnson 3/6/2023<sup>1</sup> | 4.430 |  | 5000 | 4959 |
| KfW 2/15/2023<sup>1</sup> | 4.380 |  | 12000 | 11932 |
| Komatsu Finance America, Inc. 1/13/2023<sup>1</sup> | 4.330 |  | 5000 | 4992 |
| Komatsu Finance America, Inc. 1/18/2023<sup>1</sup> | 4.200 |  | 4000 | 3991 |
| Liberty Street Funding, LLC 1/18/2023<sup>1</sup> | 4.400 |  | 10850 | 10825 |
| Linde, Inc. 1/5/2023 | 4.010 |  | 13000 | 12991 |
| LMA-Americas, LLC 1/27/2023<sup>1</sup> | 4.300 |  | 10000 | 9966 |
| L'Oréal USA, Inc. 1/26/2023<sup>1</sup> | 4.240 |  | 10000 | 9967 |
| LVMH Moët Hennessy Louis Vuitton, Inc. 2/6/2023<sup>1</sup> | 4.400 |  | 10000 | 9953 |
| Manhattan Asset Funding Company, LLC 3/24/2023<sup>1</sup> | 4.650 |  | 9700 | 9596 |
| Mizuho Bank, Ltd. 1/31/2023<sup>1</sup> | 4.405 |  | 12000 | 11954 |
| Nestlé Finance International, Ltd. 1/19/2023<sup>1</sup> | 4.280 |  | 6000 | 5986 |
| NRW.Bank 3/8/2023<sup>1</sup> | 4.450 |  | 8250 | 8181 |
| Oesterreichische Kontrollbank 2/15/2023 | 4.390 |  | 13000 | 12926 |
| Procter & Gamble Co. 2/10/2023<sup>1</sup> | 4.250 |  | 13050 | 12984 |
| Québec (Province of) 2/1/2023<sup>1</sup> | 4.230 |  | 10000 | 9960 |
| Siemens Capital Co., LLC 1/18/2023<sup>1</sup> | 4.080 |  | 8000 | 7982 |
| Stadshypotek AB Handelsbanken, Inc. 1/18/2023<sup>1</sup> | 4.150 |  | 6500 | 6485 |
| Starbird Funding Corp. 1/3/2023<sup>1</sup> | 4.300 |  | 11000 | 10995 |
| Sumitomo Mitsui Trust Bank, Ltd. 2/3/2023<sup>1</sup> | 4.300 |  | 9000 | 8962 |
| Sumitomo Mitsui Trust Bank, Ltd. 2/7/2023<sup>1</sup> | 4.600 |  | 6000 | 5972 |
| Toronto-Dominion Bank 1/20/2023<sup>1</sup> | 4.300 |  | 10000 | 9975 |
| TotalEnergies Capital Canada, Ltd. 1/3/2023<sup>1</sup> | 4.280 |  | 13000 | 12994 |
| Toyota Credit de Puerto Rico Corp. 1/17/2023 | 4.340 |  | 3550 | 3542 |
| Toyota Industries Commercial Finance, Inc. 1/23/2023<sup>1</sup> | 4.120 |  | 1100 | 1097 |
| Toyota Industries Commercial Finance, Inc. 3/6/2023<sup>1</sup> | 4.450 |  | 6000 | 5951 |
|  |  |  |  | **330606** |
| **Federal agency bills & notes 21.51%** |  |  |  |  |
| Federal Home Loan Bank 2/1/2023 | 4.130 |  | 15000 | 14951 |
| Federal Home Loan Bank 2/15/2023 | 4.300 |  | 4800 | 4775 |
| Federal Home Loan Bank 2/17/2023 | 4.314 |  | 36317 | 36123 |
| Federal Home Loan Bank 2/22/2023 | 4.357 |  | 23290 | 23149 |
| Federal Home Loan Bank 3/3/2023 | 4.370 |  | 5300 | 5262 |
| Federal Home Loan Bank 3/22/2023 | 4.440 |  | 6000 | 5942 |
| Federal Home Loan Bank 3/24/2023 | 4.462 |  | 2800 | 2771 |
|  |  |  |  | **92973** |
| **Total short-term securities** (cost: $423,636,000) |  |  |  | **423579** |
| **Total investment securities 97.99%** (cost: $423,636,000) | **Total investment securities 97.99%** (cost: $423,636,000) | **Total investment securities 97.99%** (cost: $423,636,000) |  | **423579** |
| Other assets less liabilities 2.01% |  |  |  | 8682 |
| **Net assets 100.00%** |  |  |  | $**432261** |

---

252 American Funds Insurance Series

Ultra-Short Bond Fund (continued)

<sup>1</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $260,165,000, which represented 60.19% of the net assets of the fund.

**Key to abbreviations**

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Insurance Series 253

U.S. Government Securities Fund

**Investment portfolio** December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 93.28%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations 48.21%** |  |  |  |
| **Federal agency mortgage-backed obligations 48.21%** |  |  |  |
| Fannie Mae Pool #406607 6.50% 8/1/2024<sup>1</sup> | USD | 10 | $11 |
| Fannie Mae Pool #735070 6.50% 10/1/2024<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #745316 6.50% 2/1/2026<sup>1</sup> |  | 56 | 58 |
| Fannie Mae Pool #AL9870 6.50% 2/1/2028<sup>1</sup> |  | 45 | 46 |
| Fannie Mae Pool #695412 5.00% 6/1/2033<sup>1</sup> |  | 1 | 1 |
| Fannie Mae Pool #AD3566 5.00% 10/1/2035<sup>1</sup> |  | 6 | 6 |
| Fannie Mae Pool #MA2588 4.00% 4/1/2036<sup>1</sup> |  | 666 | 642 |
| Fannie Mae Pool #MA2746 4.00% 9/1/2036<sup>1</sup> |  | 1376 | 1326 |
| Fannie Mae Pool #940890 6.50% 6/1/2037<sup>1</sup> |  | —<sup>2</sup> | —<sup>2</sup> |
| Fannie Mae Pool #256828 7.00% 7/1/2037<sup>1</sup> |  | 3 | 3 |
| Fannie Mae Pool #256860 6.50% 8/1/2037<sup>1</sup> |  | 11 | 11 |
| Fannie Mae Pool #888698 7.00% 10/1/2037<sup>1</sup> |  | 13 | 14 |
| Fannie Mae Pool #970343 6.00% 2/1/2038<sup>1</sup> |  | 14 | 14 |
| Fannie Mae Pool #931768 5.00% 8/1/2039<sup>1</sup> |  | 5 | 6 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039<sup>1</sup> |  | 20 | 20 |
| Fannie Mae Pool #932606 5.00% 2/1/2040<sup>1</sup> |  | 9 | 9 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041<sup>1</sup> |  | 372 | 376 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041<sup>1</sup> |  | 205 | 207 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041<sup>1</sup> |  | 33 | 33 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041<sup>1</sup> |  | 174 | 176 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041<sup>1</sup> |  | 26 | 25 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041<sup>1</sup> |  | 125 | 127 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041<sup>1</sup> |  | 18 | 18 |
| Fannie Mae Pool #MA4501 2.00% 12/1/2041<sup>1</sup> |  | 2961 | 2500 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041<sup>1</sup> |  | 10 | 10 |
| Fannie Mae Pool #MA4540 2.00% 2/1/2042<sup>1</sup> |  | 1366 | 1153 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042<sup>1</sup> |  | 18 | 18 |
| Fannie Mae Pool #MA4570 2.00% 3/1/2042<sup>1</sup> |  | 884 | 746 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043<sup>1</sup> |  | 8 | 7 |
| Fannie Mae Pool #AT7161 3.50% 6/1/2043<sup>1</sup> |  | 41 | 39 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044<sup>1</sup> |  | 8 | 7 |
| Fannie Mae Pool #BE5017 3.50% 2/1/2045<sup>1</sup> |  | 63 | 59 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045<sup>1</sup> |  | 4487 | 4155 |
| Fannie Mae Pool #BE8740 3.50% 5/1/2047<sup>1</sup> |  | 57 | 53 |
| Fannie Mae Pool #BE8742 3.50% 5/1/2047<sup>1</sup> |  | 17 | 15 |
| Fannie Mae Pool #BH2846 3.50% 5/1/2047<sup>1</sup> |  | 8 | 7 |
| Fannie Mae Pool #BH2848 3.50% 5/1/2047<sup>1</sup> |  | 7 | 6 |
| Fannie Mae Pool #BH2847 3.50% 5/1/2047<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047<sup>1</sup> |  | 5 | 5 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047<sup>1</sup> |  | 154 | 148 |
| Fannie Mae Pool #BM3788 3.50% 3/1/2048<sup>1</sup> |  | 3243 | 3018 |
| Fannie Mae Pool #BJ4901 3.50% 3/1/2048<sup>1</sup> |  | 43 | 40 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048<sup>1</sup> |  | 79 | 75 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048<sup>1</sup> |  | 106 | 102 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048<sup>1</sup> |  | 31 | 30 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048<sup>1</sup> |  | 20 | 20 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049<sup>1</sup> |  | 1170 | 1084 |
| Fannie Mae Pool #FM1062 3.50% 6/1/2049<sup>1</sup> |  | 436 | 408 |
| Fannie Mae Pool #BJ8411 3.50% 8/1/2049<sup>1</sup> |  | 113 | 105 |
| Fannie Mae Pool #CA4151 3.50% 9/1/2049<sup>1</sup> |  | 582 | 545 |
| Fannie Mae Pool #FM1443 3.50% 9/1/2049<sup>1</sup> |  | 326 | 304 |
| Fannie Mae Pool #FM2179 3.00% 1/1/2050<sup>1</sup> |  | 3675 | 3277 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050<sup>1</sup> |  | 926 | 798 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050<sup>1</sup> |  | 604 | 514 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050<sup>1</sup> |  | 195 | 168 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050<sup>1</sup> |  | 228 | 187 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051<sup>1</sup> |  | 926 | 757 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051<sup>1</sup> |  | 11 | 9 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051<sup>1</sup> |  | 6 | 5 |
| Fannie Mae Pool #FM7687 3.00% 6/1/2051<sup>1</sup> |  | 5752 | 5108 |

---

<br> 254 American Funds Insurance Series

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051<sup>1</sup> | USD | 195 | $167 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051<sup>1</sup> |  | 702 | 596 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051<sup>1</sup> |  | 51 | 41 |
| Fannie Mae Pool #BU3058 2.50% 12/1/2051<sup>1</sup> |  | 1512 | 1284 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051<sup>1</sup> |  | 1266 | 1082 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051<sup>1</sup> |  | 845 | 755 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052<sup>1</sup> |  | 2361 | 2088 |
| Fannie Mae Pool #FS0523 2.50% 2/1/2052<sup>1</sup> |  | 199 | 171 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052<sup>1</sup> |  | 3881 | 3465 |
| Fannie Mae Pool #CB3495 3.00% 5/1/2052<sup>1</sup> |  | 5807 | 5103 |
| Fannie Mae Pool #MA4600 3.50% 5/1/2052<sup>1</sup> |  | 17861 | 16244 |
| Fannie Mae Pool #CB3897 3.50% 6/1/2052<sup>1</sup> |  | 17000 | 15465 |
| Fannie Mae Pool #CB3774 4.00% 6/1/2052<sup>1</sup> |  | 3250 | 3052 |
| Fannie Mae Pool #FS2159 5.00% 6/1/2052<sup>1</sup> |  | 64 | 63 |
| Fannie Mae Pool #BV2558 5.00% 6/1/2052<sup>1</sup> |  | 62 | 61 |
| Fannie Mae Pool #CB4159 4.00% 7/1/2052<sup>1</sup> |  | 234 | 220 |
| Fannie Mae Pool #MA4700 4.00% 8/1/2052<sup>1</sup> |  | 6346 | 5959 |
| Fannie Mae Pool #BV8024 4.00% 8/1/2052<sup>1</sup> |  | 296 | 278 |
| Fannie Mae Pool #BW9411 5.00% 8/1/2052<sup>1</sup> |  | 926 | 914 |
| Fannie Mae Pool #FS2489 5.00% 8/1/2052<sup>1</sup> |  | 60 | 59 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052<sup>1</sup> |  | 2012 | 1890 |
| Fannie Mae Pool #BW7326 4.00% 9/1/2052<sup>1</sup> |  | 254 | 238 |
| Fannie Mae Pool #BW9348 4.00% 9/1/2052<sup>1</sup> |  | 219 | 206 |
| Fannie Mae Pool #BW8103 4.00% 9/1/2052<sup>1</sup> |  | 208 | 195 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052<sup>1</sup> |  | 1848 | 1780 |
| Fannie Mae Pool #BW6231 4.50% 9/1/2052<sup>1</sup> |  | 223 | 215 |
| Fannie Mae Pool #BW1201 5.00% 9/1/2052<sup>1</sup> |  | 4200 | 4146 |
| Fannie Mae Pool #BV0954 5.00% 9/1/2052<sup>1</sup> |  | 1797 | 1774 |
| Fannie Mae Pool #BW8088 5.00% 9/1/2052<sup>1</sup> |  | 327 | 323 |
| Fannie Mae Pool #BW8980 4.00% 10/1/2052<sup>1</sup> |  | 821 | 771 |
| Fannie Mae Pool #BW1210 4.00% 10/1/2052<sup>1</sup> |  | 620 | 582 |
| Fannie Mae Pool #BW7356 4.00% 10/1/2052<sup>1</sup> |  | 516 | 484 |
| Fannie Mae Pool #BX0509 4.00% 10/1/2052<sup>1</sup> |  | 222 | 209 |
| Fannie Mae Pool #MA4784 4.50% 10/1/2052<sup>1</sup> |  | 5035 | 4851 |
| Fannie Mae Pool #BW9458 4.50% 10/1/2052<sup>1</sup> |  | 999 | 965 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052<sup>1</sup> |  | 998 | 962 |
| Fannie Mae Pool #BW8981 4.50% 10/1/2052<sup>1</sup> |  | 995 | 958 |
| Fannie Mae Pool #BW8996 4.50% 10/1/2052<sup>1</sup> |  | 994 | 958 |
| Fannie Mae Pool #CB4959 4.50% 10/1/2052<sup>1</sup> |  | 993 | 956 |
| Fannie Mae Pool #BX0902 5.00% 10/1/2052<sup>1</sup> |  | 916 | 904 |
| Fannie Mae Pool #CB5380 5.00% 10/1/2052<sup>1</sup> |  | 478 | 472 |
| Fannie Mae Pool #BX0892 5.00% 10/1/2052<sup>1</sup> |  | 102 | 101 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052<sup>1</sup> |  | 300 | 308 |
| Fannie Mae Pool #MA4803 3.50% 11/1/2052<sup>1</sup> |  | 612 | 557 |
| Fannie Mae Pool #MA4804 4.00% 11/1/2052<sup>1</sup> |  | 2492 | 2340 |
| Fannie Mae Pool #BW1310 4.00% 11/1/2052<sup>1</sup> |  | 232 | 218 |
| Fannie Mae Pool #BX1766 5.00% 11/1/2052<sup>1</sup> |  | 1900 | 1875 |
| Fannie Mae Pool #MA4806 5.00% 11/1/2052<sup>1</sup> |  | 1313 | 1296 |
| Fannie Mae Pool #BX1761 5.00% 11/1/2052<sup>1</sup> |  | 921 | 909 |
| Fannie Mae Pool #BX1274 5.50% 11/1/2052<sup>1</sup> |  | 165 | 166 |
| Fannie Mae Pool #MA4852 6.50% 11/1/2052<sup>1</sup> |  | 244 | 251 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052<sup>1</sup> |  | 995 | 959 |
| Fannie Mae Pool #BX1072 5.00% 12/1/2052<sup>1</sup> |  | 1943 | 1918 |
| Fannie Mae Pool #BX4020 5.00% 12/1/2052<sup>1</sup> |  | 29 | 29 |
| Fannie Mae Pool #MA4877 6.50% 12/1/2052<sup>1</sup> |  | 39345 | 40362 |
| Fannie Mae Pool #BX1071 6.50% 12/1/2052<sup>1</sup> |  | 82 | 85 |
| Fannie Mae Pool #MA4868 5.00% 1/1/2053<sup>1</sup> |  | 1457 | 1438 |
| Fannie Mae Pool #MA4894 6.00% 1/1/2053<sup>1</sup> |  | 2000 | 2032 |
| Fannie Mae Pool #MA4895 6.50% 1/1/2053<sup>1</sup> |  | 8828 | 9056 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060<sup>1</sup> |  | 1429 | 1252 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061<sup>1</sup> |  | 459 | 448 |

---

<br> American Funds Insurance Series 255

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Fannie Mae, Series 2001-4, Class GA, 9.00% 4/17/2025<sup>1,3</sup> | USD | —<sup>2</sup> | $—<sup>2</sup> |
| Fannie Mae, Series 2001-4, Class NA, 9.00% 10/25/2025<sup>1,3</sup> |  | —<sup>2</sup> | —<sup>2</sup> |
| Fannie Mae, Series 2014-M1, Class A2, Multi Family, 3.298% 7/25/2023<sup>1,3</sup> |  | 186 | 185 |
| Fannie Mae, Series 2014-M3, Class A2, Multi Family, 3.501% 1/25/2024<sup>1,3</sup> |  | 368 | 361 |
| Freddie Mac Pool #ZA2024 6.50% 9/1/2027<sup>1</sup> |  | 2 | 2 |
| Freddie Mac Pool #1H1354 4.336% 11/1/2036<sup>1,3</sup> |  | 53 | 54 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040<sup>1</sup> |  | 279 | 283 |
| Freddie Mac Pool #G06459 5.00% 5/1/2041<sup>1</sup> |  | 660 | 669 |
| Freddie Mac Pool #RB5138 2.00% 12/1/2041<sup>1</sup> |  | 794 | 670 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042<sup>1</sup> |  | 772 | 651 |
| Freddie Mac Pool #RB5148 2.00% 3/1/2042<sup>1</sup> |  | 1823 | 1538 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043<sup>1</sup> |  | 3 | 3 |
| Freddie Mac Pool #Q17696 3.50% 4/1/2043<sup>1</sup> |  | 30 | 28 |
| Freddie Mac Pool #Q19133 3.50% 6/1/2043<sup>1</sup> |  | 31 | 29 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043<sup>1</sup> |  | 145 | 140 |
| Freddie Mac Pool #Q28558 3.50% 9/1/2044<sup>1</sup> |  | 208 | 194 |
| Freddie Mac Pool #760014 2.74% 8/1/2045<sup>1,3</sup> |  | 268 | 259 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047<sup>1</sup> |  | 50 | 46 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047<sup>1</sup> |  | 78 | 72 |
| Freddie Mac Pool #Q54701 3.50% 3/1/2048<sup>1</sup> |  | 57 | 53 |
| Freddie Mac Pool #Q54709 3.50% 3/1/2048<sup>1</sup> |  | 56 | 52 |
| Freddie Mac Pool #Q54700 3.50% 3/1/2048<sup>1</sup> |  | 40 | 38 |
| Freddie Mac Pool #Q54781 3.50% 3/1/2048<sup>1</sup> |  | 35 | 33 |
| Freddie Mac Pool #Q54782 3.50% 3/1/2048<sup>1</sup> |  | 34 | 32 |
| Freddie Mac Pool #Q54699 3.50% 3/1/2048<sup>1</sup> |  | 22 | 20 |
| Freddie Mac Pool #Q54831 3.50% 3/1/2048<sup>1</sup> |  | 17 | 16 |
| Freddie Mac Pool #Q54698 3.50% 3/1/2048<sup>1</sup> |  | 14 | 14 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048<sup>1</sup> |  | 1407 | 1351 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048<sup>1</sup> |  | 78 | 75 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048<sup>1</sup> |  | 74 | 71 |
| Freddie Mac Pool #Q56590 3.50% 6/1/2048<sup>1</sup> |  | 27 | 25 |
| Freddie Mac Pool #Q56589 3.50% 6/1/2048<sup>1</sup> |  | 17 | 16 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048<sup>1</sup> |  | 114 | 109 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048<sup>1</sup> |  | 204 | 202 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048<sup>1</sup> |  | 110 | 109 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048<sup>1</sup> |  | 80 | 79 |
| Freddie Mac Pool #ZT0522 4.50% 9/1/2048<sup>1</sup> |  | 21 | 21 |
| Freddie Mac Pool #QA0284 3.50% 6/1/2049<sup>1</sup> |  | 194 | 180 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049<sup>1</sup> |  | 51 | 48 |
| Freddie Mac Pool #RA1463 3.50% 10/1/2049<sup>1</sup> |  | 393 | 368 |
| Freddie Mac Pool #RA1580 3.50% 10/1/2049<sup>1</sup> |  | 204 | 191 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050<sup>1</sup> |  | 2906 | 2379 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051<sup>1</sup> |  | 37 | 30 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051<sup>1</sup> |  | 62 | 51 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051<sup>1</sup> |  | 2959 | 2422 |
| Freddie Mac Pool #SD0726 2.50% 10/1/2051<sup>1</sup> |  | 14344 | 12316 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051<sup>1</sup> |  | 488 | 400 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051<sup>1</sup> |  | 531 | 456 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052<sup>1</sup> |  | 333 | 285 |
| Freddie Mac Pool #SD7550 3.00% 2/1/2052<sup>1</sup> |  | 3397 | 3035 |
| Freddie Mac Pool #SD0873 3.50% 2/1/2052<sup>1</sup> |  | 14059 | 13011 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052<sup>1</sup> |  | 216 | 197 |
| Freddie Mac Pool #SD7553 3.00% 3/1/2052<sup>1</sup> |  | 308 | 274 |
| Freddie Mac Pool #8D0226 2.521% 5/1/2052<sup>1,3</sup> |  | 513 | 462 |
| Freddie Mac Pool #QE6097 2.50% 7/1/2052<sup>1</sup> |  | 635 | 539 |
| Freddie Mac Pool #SD8237 4.00% 8/1/2052<sup>1</sup> |  | 4913 | 4613 |
| Freddie Mac Pool #QE9057 4.00% 8/1/2052<sup>1</sup> |  | 189 | 178 |
| Freddie Mac Pool #QE6926 5.00% 8/1/2052<sup>1</sup> |  | 862 | 851 |
| Freddie Mac Pool #QE8282 5.00% 8/1/2052<sup>1</sup> |  | 817 | 806 |
| Freddie Mac Pool #QE8695 5.00% 8/1/2052<sup>1</sup> |  | 59 | 58 |
| Freddie Mac Pool #QE7647 5.00% 8/1/2052<sup>1</sup> |  | 58 | 57 |

---

<br> 256 American Funds Insurance Series

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Pool #SD1496 5.00% 8/1/2052<sup>1</sup> | USD | 54 | $54 |
| Freddie Mac Pool #SD8244 4.00% 9/1/2052<sup>1</sup> |  | 3275 | 3076 |
| Freddie Mac Pool #QE9625 4.00% 9/1/2052<sup>1</sup> |  | 244 | 229 |
| Freddie Mac Pool #QF0671 4.50% 9/1/2052<sup>1</sup> |  | 503 | 485 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052<sup>1</sup> |  | 11870 | 11717 |
| Freddie Mac Pool #QF0311 5.00% 9/1/2052<sup>1</sup> |  | 1324 | 1307 |
| Freddie Mac Pool #QF0151 5.00% 9/1/2052<sup>1</sup> |  | 799 | 789 |
| Freddie Mac Pool #SD8246 5.00% 9/1/2052<sup>1</sup> |  | 225 | 222 |
| Freddie Mac Pool #QF0706 5.00% 9/1/2052<sup>1</sup> |  | 64 | 64 |
| Freddie Mac Pool #QF1464 4.00% 10/1/2052<sup>1</sup> |  | 234 | 220 |
| Freddie Mac Pool #QF2136 4.50% 10/1/2052<sup>1</sup> |  | 999 | 962 |
| Freddie Mac Pool #QF1431 4.50% 10/1/2052<sup>1</sup> |  | 999 | 962 |
| Freddie Mac Pool #QF1765 4.50% 10/1/2052<sup>1</sup> |  | 995 | 958 |
| Freddie Mac Pool #SD8257 4.50% 10/1/2052<sup>1</sup> |  | 743 | 716 |
| Freddie Mac Pool #QF1305 5.00% 10/1/2052<sup>1</sup> |  | 74 | 73 |
| Freddie Mac Pool #SD1710 5.00% 10/1/2052<sup>1</sup> |  | 26 | 26 |
| Freddie Mac Pool #QF3364 4.00% 11/1/2052<sup>1</sup> |  | 381 | 358 |
| Freddie Mac Pool #QF2445 4.50% 11/1/2052<sup>1</sup> |  | 4769 | 4595 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052<sup>1</sup> |  | 1272 | 1249 |
| Freddie Mac Pool #QF2560 4.50% 11/1/2052<sup>1</sup> |  | 999 | 965 |
| Freddie Mac Pool #QF2846 4.50% 11/1/2052<sup>1</sup> |  | 998 | 961 |
| Freddie Mac Pool #QF2936 4.50% 11/1/2052<sup>1</sup> |  | 969 | 934 |
| Freddie Mac Pool #QF2976 5.00% 11/1/2052<sup>1</sup> |  | 81 | 80 |
| Freddie Mac Pool #SD8275 4.50% 12/1/2052<sup>1</sup> |  | 36151 | 34831 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052<sup>1</sup> |  | 1866 | 1842 |
| Freddie Mac Pool #SD8281 6.50% 12/1/2052<sup>1</sup> |  | 2000 | 2052 |
| Freddie Mac Pool #SD8285 3.50% 1/1/2053<sup>1</sup> |  | 346 | 314 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053<sup>1</sup> |  | 199 | 187 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053<sup>1</sup> |  | 7348 | 7253 |
| Freddie Mac Pool #SD8282 6.50% 1/1/2053<sup>1</sup> |  | 10431 | 10701 |
| Freddie Mac, Series 1567, Class A, (1-month USD-LIBOR + 0.40%) 2.547% 8/15/2023<sup>1,3</sup> |  | 1 | 1 |
| Freddie Mac, Series K029, Class A2, Multi Family, 3.32% 2/25/2023<sup>1</sup> |  | 134 | 133 |
| Freddie Mac, Series K035, Class A2, Multi Family, 3.458% 8/25/2023<sup>1,3</sup> |  | 2526 | 2502 |
| Freddie Mac, Series K040, Class A2, Multi Family, 3.241% 9/25/2024<sup>1</sup> |  | 1363 | 1328 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056<sup>1,3</sup> |  | 4525 | 4234 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 7/25/2056<sup>1</sup> |  | 822 | 724 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056<sup>1</sup> |  | 333 | 300 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056<sup>1</sup> |  | 4525 | 4204 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056<sup>1,3</sup> |  | 4135 | 3866 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057<sup>1</sup> |  | 910 | 800 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057<sup>1,3</sup> |  | 1311 | 1197 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057<sup>1</sup> |  | 509 | 484 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057<sup>1</sup> |  | 4148 | 3753 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MA, 3.50% 11/26/2057<sup>1</sup> |  | 252 | 239 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/2058<sup>1</sup> |  | 763 | 689 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058<sup>1</sup> |  | 587 | 556 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058<sup>1</sup> |  | 2148 | 2027 |

---

<br> American Funds Insurance Series 257

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mortgage-backed obligations (continued)** |  |  |  |
| **Federal agency mortgage-backed obligations (continued)** |  |  |  |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/2058<sup>1</sup> | USD | 731 | $661 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058<sup>1</sup> |  | 396 | 358 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059<sup>1</sup> |  | 1819 | 1687 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/2028<sup>1</sup> |  | 4262 | 4070 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028<sup>1</sup> |  | 18482 | 17646 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029<sup>1</sup> |  | 4786 | 4398 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A1D, 2.00% 7/25/2030<sup>1</sup> |  | 1377 | 1231 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A2D, 2.00% 7/25/2030<sup>1</sup> |  | 435 | 356 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032<sup>1</sup> |  | 4668 | 4503 |
| Government National Mortgage Assn. 2.00% 1/1/2053<sup>1,4</sup> |  | 1395 | 1169 |
| Government National Mortgage Assn. 2.50% 1/1/2053<sup>1,4</sup> |  | 2486 | 2155 |
| Government National Mortgage Assn. 3.00% 1/1/2053<sup>1,4</sup> |  | 1755 | 1563 |
| Government National Mortgage Assn. 3.50% 1/1/2053<sup>1,4</sup> |  | 2260 | 2077 |
| Government National Mortgage Assn. 5.00% 1/1/2053<sup>1,4</sup> |  | 6848 | 6787 |
| Government National Mortgage Assn. 5.50% 1/1/2053<sup>1,4</sup> |  | 14351 | 14436 |
| Government National Mortgage Assn. Pool #782365 6.00% 7/15/2038<sup>1</sup> |  | 84 | 89 |
| Government National Mortgage Assn. Pool #700778 5.50% 10/15/2038<sup>1</sup> |  | 21 | 21 |
| Government National Mortgage Assn. Pool #004269 6.50% 10/20/2038<sup>1</sup> |  | 164 | 176 |
| Government National Mortgage Assn. Pool #698668 5.50% 11/15/2038<sup>1</sup> |  | 28 | 29 |
| Government National Mortgage Assn. Pool #698406 5.00% 7/15/2039<sup>1</sup> |  | 186 | 190 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039<sup>1</sup> |  | 81 | 86 |
| Government National Mortgage Assn. Pool #783689 5.50% 2/20/2040<sup>1</sup> |  | 2598 | 2758 |
| Government National Mortgage Assn. Pool #783688 5.00% 6/20/2041<sup>1</sup> |  | 870 | 894 |
| Government National Mortgage Assn. Pool #783687 4.50% 12/20/2041<sup>1</sup> |  | 570 | 562 |
| Government National Mortgage Assn. Pool #MA0533 3.00% 11/20/2042<sup>1</sup> |  | 19 | 17 |
| Government National Mortgage Assn. Pool #MA8347 4.50% 10/20/2052<sup>1</sup> |  | 675 | 656 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052<sup>1</sup> |  | 28092 | 26611 |
| Government National Mortgage Assn. Pool #MA8427 4.50% 11/20/2052<sup>1</sup> |  | 32820 | 31874 |
| Government National Mortgage Assn. Pool #MA8488 4.00% 12/20/2052<sup>1</sup> |  | 3100 | 2936 |
| Government National Mortgage Assn. Pool #MA8489 4.50% 12/20/2052<sup>1</sup> |  | 13100 | 12722 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2038<sup>1,4</sup> |  | 1115 | 992 |
| Uniform Mortgage-Backed Security 2.50% 1/1/2038<sup>1,4</sup> |  | 2275 | 2082 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2038<sup>1,4</sup> |  | 920 | 897 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2053<sup>1,4</sup> |  | 14849 | 12086 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2053<sup>1,4</sup> |  | 4574 | 4402 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2053<sup>1,4</sup> |  | 53779 | 53928 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2053<sup>1,4</sup> |  | 29742 | 30190 |
| Uniform Mortgage-Backed Security 6.50% 1/1/2053<sup>1,4</sup> |  | 81263 | 83237 |
| Uniform Mortgage-Backed Security 4.00% 2/1/2053<sup>1,4</sup> |  | 1392 | 1306 |
| Uniform Mortgage-Backed Security 5.50% 2/1/2053<sup>1,4</sup> |  | 31200 | 31271 |
| Uniform Mortgage-Backed Security 6.00% 2/1/2053<sup>1,4</sup> |  | 19158 | 19430 |
|  |  |  | **723593** |
| **U.S. Treasury bonds & notes 39.79%** |  |  |  |
| **U.S. Treasury inflation-protected securities 26.16%** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2023<sup>5</sup> |  | 21974 | 21933 |
| U.S. Treasury Inflation-Protected Security 0.625% 4/15/2023<sup>5</sup> |  | 31116 | 30816 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2023<sup>5</sup> |  | 21857 | 21606 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2024<sup>5</sup> |  | 55898 | 54749 |
| U.S. Treasury Inflation-Protected Security 0.50% 4/15/2024<sup>5</sup> |  | 14570 | 14179 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2024<sup>5</sup> |  | 56967 | 55181 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2024<sup>5</sup> |  | 26585 | 25622 |

---

<br> 258 American Funds Insurance Series

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bonds & notes (continued)** |  |  |  |
| **U.S. Treasury inflation-protected securities (continued)** |  |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2025<sup>5</sup> | USD | 8421 | $8026 |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025<sup>5</sup> |  | 57803 | 55543 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025<sup>5</sup> |  | 7805 | 7419 |
| U.S. Treasury Inflation-Protected Security 0.625% 1/15/2026<sup>5</sup> |  | 3380 | 3245 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2026<sup>5</sup> |  | 5750 | 5406 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026<sup>5</sup> |  | 34217 | 32092 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2027<sup>5</sup> |  | 7315 | 6817 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2027<sup>5</sup> |  | 12137 | 12122 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2030<sup>5</sup> |  | 7293 | 6528 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031<sup>5</sup> |  | 6877 | 6102 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2031<sup>5</sup> |  | 1001 | 883 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2032<sup>5</sup> |  | 4412 | 3860 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2041<sup>5</sup> |  | 422 | 446 |
| U.S. Treasury Inflation-Protected Security 0.75% 2/15/2042<sup>5</sup> |  | 8558 | 7171 |
| U.S. Treasury Inflation-Protected Security 0.625% 2/15/2043<sup>5</sup> |  | 4523 | 3648 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049<sup>5</sup> |  | 4914 | 4114 |
| U.S. Treasury Inflation-Protected Security 0.25% 2/15/2050<sup>5</sup> |  | 337 | 227 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051<sup>5</sup> |  | 6032 | 3891 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2052<sup>5</sup> |  | 1459 | 943 |
|  |  |  | **392569** |
| **U.S. Treasury 13.63%** |  |  |  |
| U.S. Treasury 0.50% 11/30/2023 |  | 12069 | 11611 |
| U.S. Treasury 2.125% 11/30/2023 |  | —<sup>2</sup> | —<sup>2</sup> |
| U.S. Treasury 0.125% 12/15/2023 |  | 1934 | 1853 |
| U.S. Treasury 2.25% 12/31/2023 |  | 1332 | 1300 |
| U.S. Treasury 2.50% 1/31/2024 |  | 26000 | 25395 |
| U.S. Treasury 1.50% 2/29/2024 |  | 369 | 356 |
| U.S. Treasury 3.00% 7/31/2024 |  | 3685 | 3594 |
| U.S. Treasury 2.75% 5/15/2025 |  | 7459 | 7193 |
| U.S. Treasury 3.125% 8/15/2025 |  | 390 | 379 |
| U.S. Treasury 3.50% 9/15/2025 |  | 28000 | 27447 |
| U.S. Treasury 4.00% 12/15/2025 |  | 5694 | 5659 |
| U.S. Treasury 2.625% 7/31/2029 |  | 19809 | 18245 |
| U.S. Treasury 3.125% 8/31/2029 |  | 22521 | 21382 |
| U.S. Treasury 3.875% 12/31/2029 |  | 2905 | 2885 |
| U.S. Treasury 2.75% 8/15/2032 |  | 7500 | 6828 |
| U.S. Treasury 1.125% 5/15/2040 |  | 7000 | 4393 |
| U.S. Treasury 2.50% 2/15/2045 |  | 4850 | 3668 |
| U.S. Treasury 2.50% 2/15/2046 |  | 3900 | 2931 |
| U.S. Treasury 2.50% 5/15/2046 |  | 5400 | 4049 |
| U.S. Treasury 2.875% 11/15/2046 |  | 2700 | 2174 |
| U.S. Treasury 2.875% 5/15/2049 |  | 6300 | 5095 |
| U.S. Treasury 2.25% 8/15/2049 |  | 1635 | 1157 |
| U.S. Treasury 1.25% 5/15/2050<sup>6</sup> |  | 19460 | 10527 |
| U.S. Treasury 1.375% 8/15/2050 |  | 4330 | 2423 |
| U.S. Treasury 1.625% 11/15/2050<sup>6</sup> |  | 26165 | 15671 |
| U.S. Treasury 1.875% 2/15/2051<sup>6</sup> |  | 6672 | 4264 |
| U.S. Treasury 2.00% 8/15/2051 |  | 5546 | 3650 |
| U.S. Treasury 1.875% 11/15/2051 |  | 3164 | 2015 |
| U.S. Treasury 2.875% 5/15/2052 |  | 350 | 282 |
| U.S. Treasury 3.00% 8/15/2052 |  | 7025 | 5825 |
| U.S. Treasury 4.00% 11/15/2052 |  | 2290 | 2302 |
|  |  |  | **204553** |
| **Total U.S. Treasury bonds & notes** |  |  | **597122** |

---

<br> American Funds Insurance Series 259

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Federal agency bonds & notes 5.28%** |  |  |  |
| Export-Import Bank of the United States-Guaranteed, Ethiopian Leasing 2012, LLC<br> 2.646% 5/12/2026 | USD | 308 | $296 |
| Fannie Mae 7.125% 1/15/2030 |  | 2000 | 2353 |
| Federal Home Loan Bank 3.25% 11/16/2028 |  | 6500 | 6250 |
| Federal Home Loan Bank 5.50% 7/15/2036 |  | 300 | 328 |
| Private Export Funding Corp. 3.55% 1/15/2024 |  | 3190 | 3143 |
| Private Export Funding Corp. 1.40% 7/15/2028 |  | 3000 | 2536 |
| Tennessee Valley Authority 0.75% 5/15/2025 |  | 3700 | 3390 |
| Tennessee Valley Authority 2.875% 2/1/2027 |  | 5000 | 4742 |
| Tennessee Valley Authority 4.65% 6/15/2035 |  | 1780 | 1764 |
| Tennessee Valley Authority 5.88% 4/1/2036 |  | 875 | 971 |
| Tennessee Valley Authority, Series A, 4.625% 9/15/2060 |  | 250 | 232 |
| TVA Southaven 3.846% 8/15/2033 |  | 887 | 820 |
| U.S. Agency for International Development, Israel (State of), Class 1A, 5.50% 9/18/2023 |  | 1250 | 1255 |
| U.S. Agency for International Development, Jordan (Kingdom of) 3.00% 6/30/2025 |  | 14779 | 14231 |
| U.S. Agency for International Development, Morocco (Kingdom of) 7.55% 7/15/2026 |  | 1909 | 2000 |
| U.S. Department of Housing and Urban Development, Series 2015-A-9, 2.80% 8/1/2023 |  | 1500 | 1481 |
| U.S. Department of Housing and Urban Development, Series 2015-A-10, 2.85% 8/1/2024 |  | 2250 | 2190 |
| U.S. Department of Housing and Urban Development, Series 2015-A-11, 2.95% 8/1/2025 |  | 2640 | 2532 |
| U.S. Department of Housing and Urban Development, Series 2015-A-12, 3.10% 8/1/2026 |  | 2625 | 2497 |
| U.S. Department of Housing and Urban Development, Series 2015-A-13, 3.15% 8/1/2027 |  | 11482 | 10812 |
| U.S. Department of Housing and Urban Development, Series 2015-A-14, 3.25% 8/1/2028 |  | 3856 | 3598 |
| U.S. Department of Housing and Urban Development, Series 2015-A-15, 3.35% 8/1/2029 |  | 2650 | 2450 |
| U.S. Department of Housing and Urban Development, Series 2015-A-16, 3.50% 8/1/2030 |  | 2482 | 2361 |
| U.S. Department of Housing and Urban Development, Series 2015-A-17, 3.55% 8/1/2031 |  | 2475 | 2350 |
| U.S. Department of Housing and Urban Development, Series 2015-A-18, 3.60% 8/1/2032 |  | 2377 | 2159 |
| U.S. Department of Housing and Urban Development, Series 2015-A-19, 3.65% 8/1/2033 |  | 2059 | 1866 |
| U.S. Department of Housing and Urban Development, Series 2015-A-20, 3.70% 8/1/2034 |  | 651 | 589 |
|  |  |  | **79196** |
| **Total bonds, notes & other debt instruments** (cost: $1,480,306,000) |  |  | **1399911** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities 21.20%** | Weighted<br> average yield<br> at acquisition |  |  |
| **Commercial paper 13.42%** |  |  |  |
| CAFCO, LLC 2/3/2023<sup>7</sup> | 4.300% | 8750 | 8713 |
| Chariot Funding, LLC 1/3/2023<sup>7</sup> | 3.880 | 10000 | 9995 |
| Chariot Funding, LLC 1/27/2023<sup>7</sup> | 4.150 | 8000 | 7973 |
| Chariot Funding, LLC 2/10/2023<sup>7</sup> | 4.657 | 15000 | 14923 |
| CHARTA, LLC 1/11/2023<sup>7</sup> | 3.900 | 5680 | 5672 |
| Citigroup Global Markets, Inc. 2/21/2023<sup>7</sup> | 4.580 | 6000 | 5959 |
| Coca-Cola Co. 2/21/2023<sup>7</sup> | 4.200 | 15000 | 14903 |
| Honeywell International, Inc. 2/1/2023<sup>7</sup> | 4.100 | 3000 | 2988 |
| Honeywell International, Inc. 2/21/2023<sup>7</sup> | 4.310 | 15300 | 15201 |
| Honeywell International, Inc. 2/27/2023<sup>7</sup> | 4.300 | 6050 | 6006 |

---

<br> 260 American Funds Insurance Series

U.S. Government Securities Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Value<br> (000) |
| **Commercial paper (continued)** |  |  |  |
| Johnson & Johnson 1/30/2023<sup>7</sup> | 4.190% | USD9,000 | $8967 |
| Johnson & Johnson 2/13/2023<sup>7</sup> | 4.220 | 10000 | 9946 |
| Linde, Inc. 2/6/2023 | 4.340 | 15000 | 14932 |
| Paccar Financial Corp. 1/6/2023 | 4.110 | 20000 | 19983 |
| Procter & Gamble Co. 2/9/2023<sup>7</sup> | 4.300 | 14500 | 14428 |
| Procter & Gamble Co. 2/10/2023<sup>7</sup> | 4.250 | 18500 | 18406 |
| Roche Holdings, Inc. 1/3/2023<sup>7</sup> | 4.230 | 13950 | 13944 |
| Starbird Funding Corp. 1/3/2023<sup>7</sup> | 4.300 | 8500 | 8496 |
|  |  |  | **201435** |
| **Federal agency bills & notes 6.19%** |  |  |  |
| Federal Farm Credit Banks 1/12/2023 | 3.880 | 5500 | 5494 |
| Federal Home Loan Bank 1/3/2023 | 3.900 | 850 | 850 |
| Federal Home Loan Bank 1/11/2023 | 4.005 | 20700 | 20680 |
| Federal Home Loan Bank 2/8/2023 | 4.161 | 25000 | 24896 |
| Federal Home Loan Bank 2/10/2023 | 4.215 | 6750 | 6720 |
| Federal Home Loan Bank 2/22/2023 | 4.320 | 4400 | 4373 |
| Federal Home Loan Bank 2/24/2023 | 4.297 | 10000 | 9936 |
| Federal Home Loan Bank 3/3/2023 | 4.370 | 20000 | 19856 |
|  |  |  | **92805** |
| **U.S. Treasury bills 1.59%** |  |  |  |
| U.S. Treasury 11/2/2023 | 4.527 | 24780 | **23854** |
| **Total short-term securities** (cost: $318,108,000) |  |  | **318094** |
| **Total investment securities 114.48%** (cost: $1,798,414,000) |  |  | **1718005** |
| Other assets less liabilities (14.48)% |  |  | (217283) |
| **Net assets 100.00%** |  |  | $**1500722** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Type** | <br>**Number of**<br>**contracts** | <br>**Expiration** |<br><br>**Notional**<br>**amount**<br>**(000)** | **Value and**<br>**unrealized**<br>**appreciation**<br>**(depreciation)**<br>**at 12/31/2022**<br>**(000)** |
| 3 Month SOFR Futures | Short | 270 | June 2023 | USD (64183) | $920 |
| 90 Day Eurodollar Futures | Long | 1495 | September 2023 | 354782 | (15731) |
| 90 Day Eurodollar Futures | Short | 923 | December 2023 | (219697) | 8805 |
| 90 Day Eurodollar Futures | Short | 885 | December 2024 | (213285) | 4539 |
| 2 Year U.S. Treasury Note Futures | Short | 298 | March 2023 | (61113) | 148 |
| 5 Year U.S. Treasury Note Futures | Long | 3872 | March 2023 | 417904 | (536) |
| 10 Year U.S. Treasury Note Futures | Long | 603 | March 2023 | 67715 | (373) |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 164 | March 2023 | 19398 | (294) |
| 20 Year U.S. Treasury Bond Futures | Long | 447 | March 2023 | 56029 | (765) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 35 | March 2023 | (4701) | 111 |
|  |  |  |  |  | $(3176) |

---

<br> American Funds Insurance Series 261

U.S. Government Securities Fund (continued)

**Swap contracts**

**Interest rate swaps**

**Centrally cleared interest rate swaps**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Receive** | **Receive** | **Pay** | **Pay** | | | | | |
| <br>**Rate** | **Payment**<br>**frequency** | <br>**Rate** | **Payment**<br>**frequency** | <br>**Expiration**<br>**date** |<br>**Notional**<br>**amount**<br>**(000)** |<br>**Value at**<br>**12/31/2022**<br>**(000)** |<br>**Upfront**<br>**premium**<br>**paid**<br>**(000)** | **Unrealized**<br>**appreciation**<br>**(depreciation)**<br>**at 12/31/2022**<br>**(000)** |
| SOFR | Annual | 0.471% | Annual | 10/26/2023 | USD 30,500 | $1078 | $— | $1078 |
| 0.45801% | Annual | SOFR | Annual | 10/26/2023 | 30500 | (1081) |  | (1081) |
| 0.241% | Annual | U.S. EFFR | Annual | 3/1/2024 | 119400 | (6219) |  | (6219) |
| U.S. EFFR | Annual | 0.11% | Annual | 5/18/2024 | 97600 | 4372 |  | 4372 |
| 3.497% | Annual | U.S. EFFR | Annual | 6/16/2024 | 24000 | (426) |  | (426) |
| 3.4585% | Annual | U.S. EFFR | Annual | 6/17/2024 | 3697 | (68) |  | (68) |
| 3.4325% | Annual | U.S. EFFR | Annual | 6/17/2024 | 17700 | (330) |  | (330) |
| 4.345% | Annual | U.S. EFFR | Annual | 9/29/2024 | 19000 | (85) |  | (85) |
| 4.197% | Annual | U.S. EFFR | Annual | 9/30/2024 | 19000 | (131) |  | (131) |
| 4.1735% | Annual | U.S. EFFR | Annual | 9/30/2024 | 19400 | (142) |  | (142) |
| 4.15% | Annual | U.S. EFFR | Annual | 10/6/2024 | 19300 | (146) |  | (146) |
| 4.5645% | Annual | U.S. EFFR | Annual | 10/19/2024 | 7100 | (2) |  | (2) |
| 4.533% | Annual | U.S. EFFR | Annual | 10/20/2024 | 8800 | (7) |  | (7) |
| 4.56% | Annual | U.S. EFFR | Annual | 10/27/2024 | 8900 | (2) |  | (2) |
| 4.5245% | Annual | U.S. EFFR | Annual | 10/27/2024 | 10600 | (8) |  | (8) |
| U.S. EFFR | Annual | 0.1275% | Annual | 6/25/2025 | 20100 | 1938 |  | 1938 |
| U.S. EFFR | Annual | 0.126% | Annual | 6/25/2025 | 20100 | 1938 |  | 1938 |
| U.S. EFFR | Annual | 0.106% | Annual | 6/30/2025 | 22492 | 2187 |  | 2187 |
| 3-month USD-LIBOR | Quarterly | 1.867% | Semi-annual | 7/11/2025 | 49400 | 3060 |  | 3060 |
| 2.925% | Semi-annual | 3-month USD-LIBOR | Quarterly | 2/1/2028 | 12800 | (616) |  | (616) |
| 2.92% | Semi-annual | 3-month USD-LIBOR | Quarterly | 2/2/2028 | 12200 | (590) |  | (590) |
| U.S. EFFR | Annual | 0.5385% | Annual | 3/26/2030 | 49000 | 9477 |  | 9477 |
| 0.913% | Semi-annual | 3-month USD-LIBOR | Quarterly | 6/9/2030 | 31000 | (5918) |  | (5918) |
| U.S. EFFR | Annual | 0.666% | Annual | 11/19/2030 | 15500 | 3075 |  | 3075 |
| 3-month USD-LIBOR | Quarterly | 2.963% | Semi-annual | 2/1/2038 | 9800 | 486 |  | 486 |
| 3-month USD-LIBOR | Quarterly | 2.986% | Semi-annual | 2/1/2038 | 7800 | 375 |  | 375 |
| 0.833% | Semi-annual | 3-month USD-LIBOR | Quarterly | 4/3/2040 | 15800 | (5952) |  | (5952) |
| 3-month USD-LIBOR | Quarterly | 0.811% | Semi-annual | 7/27/2050 | 5110 | 2464 |  | 2464 |
| SOFR | Annual | 2.85282% | Annual | 12/6/2052 | 540 | 38 |  | 38 |
| SOFR | Annual | 2.93542% | Annual | 12/6/2052 | 550 | 31 |  | 31 |
|  |  |  |  |  |  | $8796 | $— | $8796 |

---

<sup>1</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>2</sup> Amount less than one thousand.

<sup>3</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>4</sup> Purchased on a TBA basis.

<sup>5</sup> Index-linked bond whose principal amount moves with a government price index.

<sup>6</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $10,807,000, which represented .72% of the net assets of the fund.

<sup>7</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $166,520,000, which represented 11.10% of the net assets of the fund.

**Key to abbreviations**

Assn. = Association

EFFR = Effective Federal Funds Rate

LIBOR = London Interbank Offered Rate

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

Refer to the notes to financial statements.

262 American Funds Insurance Series

Managed Risk Growth Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Growth funds 85.30%** | Shares | Value<br> (000) |
| American Funds Insurance Series – Growth Fund, Class 1 | **5078871** | $**387467** |
| **Total growth funds** (cost: $439,303,000) |  | **387467** |
| **Fixed income funds 7.53%** |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1 | **3634107** | **34197** |
| **Total fixed income funds (cost: $35,683,000)** |  | **34197** |
| **Short-term securities 2.48%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.12%<sup>1</sup> | **11266894** | **11267** |
| **Total short-term securities** (cost: $11,267,000) |  | **11267** |
| **Options purchased 0.04%** |  |  |
| Options purchased\* |  | **205** |
| **Total options purchased** (cost: $1,216,000) |  | **205** |
| **Total investment securities 95.35%** (cost: $487,469,000) |  | **433136** |
| Other assets less liabilities 4.65% |  | 21106 |
| **Net assets 100.00%** |  | $**454242** |

---

**\*Options purchased**

**Put**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> contracts** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Exercise<br> price** | **Exercise<br> price** | **Expiration <br> date** | **Value at<br> 12/31/2022<br> (000)** |
| S&P 500 Index | 35 | USD | 13438 | USD | 2600.00 | 3/17/2023 | $13 |
| S&P 500 Index | 70 |  | 26877 |  | 2700.00 | 3/17/2023 | 29 |
| S&P 500 Index | 175 |  | 67191 |  | 2800.00 | 3/17/2023 | 87 |
| S&P 500 Index | 5 |  | 1920 |  | 2850.00 | 3/17/2023 | 2 |
| S&P 500 Index | 110 |  | 42234 |  | 2900.00 | 3/17/2023 | 74 |
|  |  |  |  |  |  |  | $205 |

---

American Funds Insurance Series 263

Managed Risk Growth Fund (continued)

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 283 | March 2023 | USD | 30544 | $(47) |
| Nikkei 225 Index Contracts | Short | 3 | March 2023 |  | (590) | 45 |
| Japanese Yen Currency Contracts | Short | 7 | March 2023 |  | (674) | (31) |
| FTSE 100 Index Contracts | Short | 19 | March 2023 |  | (1716) | (1) |
| British Pound Currency Contracts | Short | 24 | March 2023 |  | (1812) | 47 |
| Mini MSCI Emerging Market Index Contracts | Short | 57 | March 2023 |  | (2734) | 42 |
| Russell 2000 Mini Index Contracts | Short | 66 | March 2023 |  | (5844) | 156 |
| Euro Stoxx 50 Index Contracts | Short | 314 | March 2023 |  | (12714) | 544 |
| Euro Currency Contracts | Short | 101 | March 2023 |  | (13577) | (30) |
| S&P Mid 400 E-mini Index Contracts | Short | 92 | March 2023 |  | (22472) | 455 |
| S&P 500 E-mini Index Contracts | Short | 1194 | March 2023 |  | (230502) | 6305 |
|  |  |  |  |  |  | $7485 |

---

**Investments in affiliates<sup>2</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> (depreciation)<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** | **Capital gain<br> distributions<br> received<br> (000)** |
| **Growth funds 85.30%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – Growth Fund, Class 1 | $504914 | $458729 | $366785 | $(17443) | $(191948) | $387467 | $2476 | $60090 |
| **Fixed income funds 7.53%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – The Bond Fund of America, Class 1 | 59236 | 70113 | 86469 | (9458) | 775 | 34197 | 1344 | 443 |
| &nbsp;&nbsp;&nbsp;**Total 92.83%** |  |  |  | $(26901) | $(191173) | $421664 | $3820 | $60533 |

---

<sup>1</sup> Rate represents the seven-day yield at 12/31/2022. <br> <sup>2</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviation**

USD = U.S. dollars

Refer to the notes to financial statements.

264 American Funds Insurance Series

Managed Risk International Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Growth funds 84.51%** | Shares | Value<br> (000) |
| American Funds Insurance Series – International Fund, Class 1 | **6952007** | $**106435** |
| **Total growth funds** (cost: $119,403,000) |  | **106435** |
| **Fixed income funds 9.95%** |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1 | **1331210** | **12527** |
| **Total fixed income funds** (cost: $13,253,000) |  | **12527** |
| **Short-term securities 2.09%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.12%<sup>1</sup> | **2635506** | **2636** |
| **Total short-term securities** (cost: $2,636,000) |  | **2636** |
| **Options purchased 0.14%** |  |  |
| Options purchased\* |  | **169** |
| **Total options purchased** (cost: $399,000) |  | **169** |
| **Total investment securities 96.69%** (cost: $135,691,000) |  | **121767** |
| Other assets less liabilities 3.31% |  | 4167 |
| **Net assets 100.00%** |  | $**125934** |

---

**\*Options purchased**

**Put**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> contracts** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Exercise<br> price** | **Exercise<br> price** | **Expiration<br> date** | **Value at<br> 12/31/2022<br> (000)** |
| iShares MSCI EAFE ETF | 50 | USD | 328 | USD | 47.00 | 3/17/2023 | $—<sup>2</sup> |
| iShares MSCI EAFE ETF | 1700 |  | 11159 |  | 48.00 | 3/17/2023 | 13 |
| iShares MSCI EAFE ETF | 450 |  | 2954 |  | 55.00 | 3/17/2023 | 11 |
| iShares MSCI EAFE ETF | 1375 |  | 9025 |  | 43.00 | 6/16/2023 | 34 |
| iShares MSCI EAFE ETF | 350 |  | 2297 |  | 45.00 | 6/16/2023 | 15 |
| iShares MSCI EAFE ETF | 200 |  | 1313 |  | 46.00 | 6/16/2023 | 9 |
| iShares MSCI EAFE ETF | 1700 |  | 11159 |  | 50.00 | 6/16/2023 | 87 |
|  |  |  |  |  |  |  | $169 |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 75 | March 2023 | USD | 8095 | $(13) |
| S&P 500 E-mini Index Contracts | Short | 66 | March 2023 |  | (12742) | 351 |
| Mini MSCI Emerging Market Index Contracts | Short | 394 | March 2023 |  | (18900) | 245 |
| MSCI EAFE Index Contracts | Short | 279 | March 2023 |  | (27194) | 428 |
|  |  |  |  |  |  | $1011 |

---

American Funds Insurance Series 265

Managed Risk International Fund (continued)

**Investments in affiliates<sup>3</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> loss<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** | **Capital gain<br> distributions<br> received<br> (000)** |
| **Growth funds 84.51%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – International Fund, Class 1 | $136987 | $107662 | $92768 | $(7315) | $(38131) | $106435 | $2273 | $16110 |
| **Fixed income funds 9.95%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – The Bond Fund of America, Class 1 | 16071 | 14150 | 15224 | (2409) | (61) | 12527 | 427 | 160 |
| &nbsp;&nbsp;&nbsp;**Total 94.46%** |  |  |  | $(9724) | $(38192) | $118962 | $2700 | $16270 |

---

<sup>1</sup> Rate represents the seven-day yield at 12/31/2022.

<sup>2</sup> Amount less than one thousand.

<sup>3</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviation**

USD = U.S. dollars

Refer to the notes to financial statements.

266 American Funds Insurance Series

Managed Risk Washington Mutual Investors Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Growth-and-income funds 84.89%** | Shares | Value<br> (000) |
| American Funds Insurance Series – Washington Mutual Investors Fund, Class 1 | **21639334** | $**274603** |
| **Total growth-and-income funds** (cost: $299,529,000) |  | **274603** |
| **Fixed income funds 9.99%** |  |  |
| American Funds Insurance Series – U.S. Government Securities Fund, Class 1 | **3235124** | **32319** |
| **Total fixed income funds** (cost: $34,728,000) |  | **32319** |
| **Short-term securities 2.32%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.12%<sup>1</sup> | **7500680** | **7501** |
| **Total short-term securities** (cost: $7,501,000) |  | **7501** |
| **Options purchased 0.09%** |  |  |
| Options purchased\* |  | **274** |
| **Total options purchased** (cost: $1,254,000) |  | **274** |
| **Total investment securities 97.29%** (cost: $343,012,000) |  | **314697** |
| Other assets less liabilities 2.71% |  | 8775 |
| **Net assets 100.00%** |  | $**323472** |

---

**\*Options purchased**

**Put**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> contracts** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Exercise<br> price** | **Exercise<br> price** | **Expiration<br> date** | **Value at<br> 12/31/2022<br> (000)** |
| S&P 500 Index | 15 | USD | 5759 | USD | 2500.00 | 3/17/2023 | $4 |
| S&P 500 Index | 15 |  | 5759 |  | 2600.00 | 3/17/2023 | 6 |
| S&P 500 Index | 80 |  | 30716 |  | 2700.00 | 3/17/2023 | 33 |
| S&P 500 Index | 130 |  | 49913 |  | 2800.00 | 3/17/2023 | 65 |
| S&P 500 Index | 45 |  | 17278 |  | 2850.00 | 3/17/2023 | 24 |
| S&P 500 Index | 105 |  | 40315 |  | 2900.00 | 3/17/2023 | 70 |
| S&P 500 Index | 30 |  | 11519 |  | 2825.00 | 6/16/2023 | 72 |
|  |  |  |  |  |  |  | $274 |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 146 | March 2023 | USD | 15758 | $(81) |
| Russell 2000 Mini Index Contracts | Short | 1 | March 2023 |  | (89) | 3 |
| S&P Mid 400 E-mini Index Contracts | Short | 7 | March 2023 |  | (1710) | 31 |
| Euro Stoxx 50 Index Contracts | Short | 47 | March 2023 |  | (1903) | 70 |
| Euro Currency Contracts | Short | 15 | March 2023 |  | (2016) | (5) |
| FTSE 100 Index Contracts | Short | 31 | March 2023 |  | (2799) | (5) |

---

American Funds Insurance Series 267

Managed Risk Washington Mutual Investors Fund (continued)

**Futures contracts** (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| British Pound Currency Contracts | Short | 38 | March 2023 | USD | (2870) | $68 |
| S&P 500 E-mini Index Contracts | Short | 563 | March 2023 |  | (108687) | 2521 |
|  |  |  |  |  |  | $2602 |

---

**Investments in affiliates<sup>2</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions <br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> gain (loss)<br> (000)** | **Net<br> unrealized<br> (depreciation)<br> appreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** | **Capital gain<br> distributions<br> received<br> (000)** |
| **Growth-and-income funds 84.89%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – Washington Mutual Investors Fund, Class 1 | $315947 | $235449 | $186345 | $38519 | $(128967) | $274603 | $5946 | $61850 |
| **Fixed income funds 9.99%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series – U.S. Government Securities Fund, Class 1 | 37066 | 33763 | 33365 | (5847) | 702 | 32319 | 1347 |  |
| &nbsp;&nbsp;&nbsp;**Total 94.88%** |  |  |  | $32672 | $(128265) | $306922 | $7293 | $61850 |

---

<br> <sup>1</sup> Rate represents the seven-day yield at 12/31/2022. <br> <sup>2</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviation**

USD = U.S. dollars

Refer to the notes to financial statements.

268 American Funds Insurance Series

Managed Risk Growth-Income Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Growth-and-income funds 79.84%** | Shares | Value<br> (000) |
| American Funds Insurance Series – Growth-Income Fund, Class 1 | **33417153** | $**1677875** |
| **Total growth-and-income funds** (cost: $1,757,211,000) |  | **1677875** |
| **Fixed income funds 14.97%** |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1 | **33434013** | **314614** |
| **Total fixed income funds** (cost: $348,317,000) |  | **314614** |
| **Short-term securities 2.25%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.12%<sup>1</sup> | **47304896** | **47305** |
| **Total short-term securities** (cost: $47,305,000) |  | **47305** |
| **Options purchased 0.12%** |  |  |
| Options purchased\* |  | **2485** |
| **Total options purchased** (cost: $13,461,000) |  | **2485** |
| **Total investment securities 97.18%** (cost: $2,166,294,000) |  | **2042279** |
| Other assets less liabilities 2.82% |  | 59165 |
| **Net assets 100.00%** |  | $**2101444** |

---

**\*Options purchased**

**Put**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> contracts** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Exercise<br> price** | **Exercise<br> price** | **Expiration<br> date** | **Value at<br> 12/31/2022<br> (000)** |
| S&P 500 Index | 420 | USD | 161259 | USD | 2700.00 | 3/17/2023 | $172 |
| S&P 500 Index | 1500 |  | 575925 |  | 2800.00 | 3/17/2023 | 750 |
| S&P 500 Index | 1575 |  | 604721 |  | 2850.00 | 3/17/2023 | 838 |
| S&P 500 Index | 1080 |  | 414666 |  | 2900.00 | 3/17/2023 | 725 |
|  |  |  |  |  |  |  | $2485 |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 1001 | March 2023 | USD | 108038 | $(177) |
| Nikkei 225 Index Contracts | Short | 1 | March 2023 |  | (197) | 3 |
| Japanese Yen Currency Contracts | Short | 3 | March 2023 |  | (289) | (4) |
| Russell 2000 Mini Index Contracts | Short | 52 | March 2023 |  | (4604) | 100 |
| Mini MSCI Emerging Market Index Contracts | Short | 230 | March 2023 |  | (11033) | 137 |
| FTSE 100 Index Contracts | Short | 189 | March 2023 |  | (17066) | (33) |
| British Pound Currency Contracts | Short | 235 | March 2023 |  | (17748) | 433 |
| Euro Stoxx 50 Index Contracts | Short | 579 | March 2023 |  | (23445) | 892 |
| Euro Currency Contracts | Short | 187 | March 2023 |  | (25138) | (70) |

---

American Funds Insurance Series 269

Managed Risk Growth-Income Fund (continued)

**Futures contracts** (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| S&P Mid 400 E-mini Index Contracts | Short | 210 | March 2023 | USD(51295) | $773 |
| S&P 500 E-mini Index Contracts | Short | 3266 | March 2023 | (630501) | 14597 |
|  |  |  |  |  | $16651 |

---

**Investments in affiliates<sup>2</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliates at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> gain (loss)<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliates at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** | **Capital gain<br> distributions<br> received<br> (000)** |
| **Growth-and-income funds 79.84%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series –Growth-Income Fund, Class 1 | $2125192 | $1251540 | $1173057 | $198223 | $(724023) | $1677875 | $26763 | $175737 |
| **Fixed income funds 14.97%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series –The Bond Fund of America, Class 1 | 398789 | 234510 | 257964 | (41426) | (19295) | 314614 | 10505 | 3897 |
| &nbsp;&nbsp;&nbsp;**Total 94.81%** |  |  |  | $156797 | $(743318) | $1992489 | $37268 | $179634 |

---

<br> <sup>1</sup> Rate represents the seven-day yield at 12/31/2022. <br> <sup>2</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviation**

USD = U.S. dollars

Refer to the notes to financial statements.

270 American Funds Insurance Series

Managed Risk Asset Allocation Fund

**Investment portfolio** December 31, 2022

---

| | | |
|:---|:---|:---|
| **Asset allocation funds 95.19%** | Shares | Value<br> (000) |
| American Funds Insurance Series – Asset Allocation Fund, Class 1 | **93886027** | $**2084270** |
| **Total asset allocation funds** (cost: $2,174,894,000) |  | **2084270** |
| **Short-term securities 3.19%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.12%<sup>1</sup> | **69776962** | **69777** |
| **Total short-term securities** (cost: $69,777,000) |  | **69777** |
| **Options purchased 0.02%** |  |  |
| Options purchased\* |  | **383** |
| **Total options purchased** (cost: $1,887,000) |  | **383** |
| **Total investment securities 98.40%** (cost: $2,246,558,000) |  | **2154430** |
| Other assets less liabilities 1.60% |  | 35042 |
| **Net assets 100.00%** |  | $**2189472** |

---

**\*Options purchased**

**Put**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> contracts** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Exercise<br> price** | **Exercise<br> price** | **Expiration<br> date** | **Value at<br> 12/31/2022<br> (000)** |
| S&P 500 Index | 410 | USD | 157419 | USD | 2850.00 | 3/17/2023 | $218 |
| S&P 500 Index | 245 |  | 94068 |  | 2900.00 | 3/17/2023 | 165 |
|  |  |  |  |  |  |  | $383 |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 12/31/2022<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Long | 1028 | March 2023 | USD110,952 | $(162) |
| Mini MSCI Emerging Market Index Contracts | Short | 166 | March 2023 | (7963) | 100 |
| FTSE 100 Index Contracts | Short | 89 | March 2023 | (8036) | (18) |
| Russell 2000 Mini Index Contracts | Short | 93 | March 2023 | (8235) | 157 |
| British Pound Currency Contracts | Short | 110 | March 2023 | (8308) | 196 |
| Euro Stoxx 50 Index Contracts | Short | 399 | March 2023 | (16156) | 623 |
| Euro Currency Contracts | Short | 124 | March 2023 | (16669) | (47) |
| S&P Mid 400 E-mini Index Contracts | Short | 183 | March 2023 | (44700) | 548 |
| S&P 500 E-mini Index Contracts | Short | 2599 | March 2023 | (501737) | 12185 |
|  |  |  |  |  | $13582 |

---

American Funds Insurance Series 271

Managed Risk Asset Allocation Fund (continued)

**Investments in affiliates<sup>2</sup>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value of<br> affiliate at<br> 1/1/2022<br> (000)** | **Additions<br> (000)** | **Reductions<br> (000)** | **Net<br> realized<br> gain<br> (000)** | **Net<br> unrealized<br> depreciation<br> (000)** | **Value of<br> affiliate at<br> 12/31/2022<br> (000)** | **Dividend<br> income<br> (000)** | **Capital gain<br> distributions<br> received<br> (000)** |
| **Asset allocation funds 95.19%** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;American Funds Insurance Series –Asset Allocation Fund, Class 1 | $2678055 | $1104342 | $1086607 | $55156 | $(666676) | $2084270 | $46591 | $231217 |

---

<br> <sup>1</sup> Rate represents the seven-day yield at 12/31/2022. <br> <sup>2</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

**Key to abbreviation**

USD = U.S. dollars

Refer to the notes to financial statements.

272 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements |  |
| **Statements of assets and liabilities** <br> **at December 31, 2022** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Global<br> Growth<br> Fund** | **Global<br> Small<br> Capitalization<br> Fund** | **Growth<br> Fund** | **International<br> Fund** | **New<br> World<br> Fund** |
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | $6783505 | $2874530 | $29811816 | $6445629 | $2920136 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 164535 | 134983 | 1166965 | 306445 | 167414 |
| Cash | 695 | 32 | 1221 | 1055 | 671 |
| Cash collateral received for securities on loan |  | 5872 | 5587 | 161 | 32 |
| Cash collateral pledged for futures contracts |  |  |  |  | 161 |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars | 6010 | 86 | 1197 | 1640 | 929 |
| Unrealized appreciation on open forward currency contracts |  |  |  |  | — \* |
| Unrealized appreciation on unfunded commitments |  |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales of investments | 9427 | 47 | 4581 | 1634 | 4534 |
| &nbsp;&nbsp;&nbsp;Sales of fund's shares | 1203 | 347 | 53171 | 1486 | 1478 |
| &nbsp;&nbsp;&nbsp;Dividends and interest | 5076 | 2430 | 18226 | 14915 | 5113 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  |  |  | 27 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |  | — \* |
| &nbsp;&nbsp;&nbsp;Securities lending income | 7 | 270 | 48 | 17 | 42 |
| &nbsp;&nbsp;&nbsp;Currency translations | 961 |  |  | 47 | 90 |
| &nbsp;&nbsp;&nbsp;Other |  | — \* | — \* |  |  |
|  | 6971419 | 3018597 | 31062812 | 6773029 | 3100627 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan |  | 58725 | 55867 | 1607 | 327 |
| Unrealized depreciation on open forward currency contracts |  |  |  |  | 50 |
| Unrealized depreciation on unfunded commitments |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of investments | 3893 | 1234 | 69568 | 2056 | 2377 |
| &nbsp;&nbsp;&nbsp;Repurchases of fund's shares | 23378 | 5067 | 24857 | 18617 | 2624 |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 2202 | 1519 | 8498 | 2792 | 1351 |
| &nbsp;&nbsp;&nbsp;Insurance administrative fees | 361 | 162 | 1629 | 235 | 448 |
| &nbsp;&nbsp;&nbsp;Services provided by related parties | 1005 | 515 | 4478 | 946 | 393 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation | 85 | 56 | 478 | 174 | 41 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  |  |  | 41 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |  | — \* |
| &nbsp;&nbsp;&nbsp;Non-U.S. taxes | 4611 | 8270 | 886 | 26641 | 8988 |
| &nbsp;&nbsp;&nbsp;Other | 230 | 146 | 203 | 380 | 203 |
|  | 35765 | 75694 | 166464 | 53448 | 16843 |
| **Net assets at December 31, 2022** | $6935654 | $2942903 | $30896348 | $6719581 | $3083784 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $4528931 | $2581405 | $20120055 | $6463732 | $2578375 |
| Total distributable earnings (accumulated loss) | 2406723 | 361498 | 10776293 | 255849 | 505409 |
| **Net assets at December 31, 2022** | $6935654 | $2942903 | $30896348 | $6719581 | $3083784 |
| Investment securities on loan, at value | $— | $59781 | $54504 | $1530 | $311 |
| Investment securities, at cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | 4940295 | 2530368 | 20939019 | 5790481 | 2388619 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 164509 | 133831 | 1166747 | 306396 | 167393 |
| Cash denominated in currencies other than U.S. dollars, at cost | 6096 | 85 | 1195 | 1614 | 939 |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 273

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Washington<br> Mutual<br> Investors<br> Fund** | **Capital<br> World Growth<br> and Income<br> Fund** | **Growth-<br> Income<br> Fund** | **International<br> Growth<br> and Income<br> Fund** | **Capital<br> Income<br> Builder** |
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | $9042759 | $1728292 | $30635898 | $293962 | $1065349 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 391007 | 804 | 2605421 | 5492 | 107723 |
| Cash | 2877 | 739 | 2141 | 75 | 826 |
| Cash collateral received for securities on loan | 1290 | 648 | 24869 | 96 | 655 |
| Cash collateral pledged for futures contracts |  |  |  |  |  |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars |  | 1728 | 844 | 556 | 753 |
| Unrealized appreciation on open forward currency contracts |  |  |  | 5 |  |
| Unrealized appreciation on unfunded commitments |  |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales of investments | 19678 | 4368 | 3486 | 1304 | 17973 |
| &nbsp;&nbsp;&nbsp;Sales of fund's shares | 1698 | 332 | 11206 | 54 | 475 |
| &nbsp;&nbsp;&nbsp;Dividends and interest | 11258 | 1617 | 53240 | 1606 | 3711 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |  | 22 |
| &nbsp;&nbsp;&nbsp;Securities lending income | 7 | 5 | 71 | 3 | 4 |
| &nbsp;&nbsp;&nbsp;Currency translations | 3 | 252 |  | 75 | 101 |
| &nbsp;&nbsp;&nbsp;Other |  |  |  |  |  |
|  | 9470577 | 1738785 | 33337176 | 303228 | 1197594 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan | 12908 | 6480 | 248693 | 962 | 6553 |
| Unrealized depreciation on open forward currency contracts |  |  |  |  |  |
| Unrealized depreciation on unfunded commitments |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of investments | 2823 | 1089 | 28952 | 197 | 49380 |
| &nbsp;&nbsp;&nbsp;Repurchases of fund's shares | 7197 | 4367 | 62689 | 744 | 1446 |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 1903 | 544 | 7284 | 121 | 211 |
| &nbsp;&nbsp;&nbsp;Insurance administrative fees | 706 | 118 | 1021 | 74 | 328 |
| &nbsp;&nbsp;&nbsp;Services provided by related parties | 1072 | 299 | 3696 | 69 | 143 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation | 99 | 25 | 530 | 14 | 7 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  |  |  | 95 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |  | 25 |
| &nbsp;&nbsp;&nbsp;Non-U.S. taxes | 159 | 410 | 1143 | 35 | 320 |
| &nbsp;&nbsp;&nbsp;Other | 10 | 55 | 201 | 15 | 20 |
|  | 26877 | 13387 | 354209 | 2231 | 58528 |
| **Net assets at December 31, 2022** | $9443700 | $1725398 | $32982967 | $300997 | $1139066 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $7625116 | $1532409 | $20816349 | $322284 | $1032534 |
| Total distributable earnings (accumulated loss) | 1818584 | 192989 | 12166618 | (21287) | 106532 |
| **Net assets at December 31, 2022** | $9443700 | $1725398 | $32982967 | $300997 | $1139066 |
| Investment securities on loan, at value | $12432 | $6155 | $240456 | $1435 | $6251 |
| Investment securities, at cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | 7334340 | 1456490 | 20399086 | 290864 | 933032 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 390957 | 804 | 2605095 | 5489 | 113396 |
| Cash denominated in currencies other than U.S. dollars, at cost |  | 1754 | 847 | 564 | 763 |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

274 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Asset<br> Allocation<br> Fund** | **American<br> Funds<br> Global<br> Balanced<br> Fund<sup>†</sup>** | **The Bond<br> Fund<br> of America** | **Capital<br> World Bond<br> Fund** | **American<br> High-Income<br> Trust** |
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | $22298926 | $355901 | $9747773 | $1438501 | $778564 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 3019460 | 9460 | 1425720 | 48843 | 38565 |
| Cash | 4463 | 142 | 3761 | 431 | 1024 |
| Cash collateral received for securities on loan | 5690 |  |  |  |  |
| Cash collateral pledged for futures contracts |  |  |  |  | 99 |
| Cash collateral pledged for swap contracts |  |  |  |  | 517 |
| Cash denominated in currencies other than U.S. dollars | 592 | 86 | — \* | 732 | 5 |
| Unrealized appreciation on open forward currency contracts |  | 686 | 3821 | 7008 |  |
| Unrealized appreciation on unfunded commitments |  |  |  | 12 | 572 |
| Receivables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales of investments | 139321 | 2041 | 780689 | 21 | 1605 |
| &nbsp;&nbsp;&nbsp;Sales of fund's shares | 1899 | 327 | 10460 | 165 | 585 |
| &nbsp;&nbsp;&nbsp;Dividends and interest | 74681 | 1624 | 71420 | 10334 | 13187 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 194 | 29 | 494 | 326 | 2 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts | 11 | 16 | 345 | 149 | 3 |
| &nbsp;&nbsp;&nbsp;Securities lending income | 88 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Currency translations | 79 | 18 | 70 | 429 |  |
| &nbsp;&nbsp;&nbsp;Other |  |  |  |  | 3 |
|  | 25545404 | 370330 | 12044553 | 1506951 | 834731 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan | 56897 |  |  |  |  |
| Unrealized depreciation on open forward currency contracts |  | 150 | 174 | 2455 |  |
| Unrealized depreciation on unfunded commitments | 9 |  |  | 1 | 3 |
| Payables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of investments | 647278 | 1470 | 1812910 | 19999 | 2546 |
| &nbsp;&nbsp;&nbsp;Repurchases of fund's shares | 24374 | 477 | 4453 | 677 | 164 |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 5696 | 137 | 1428 | 550 | 190 |
| &nbsp;&nbsp;&nbsp;Insurance administrative fees | 3321 | 69 | 614 | 33 | 49 |
| &nbsp;&nbsp;&nbsp;Services provided by related parties | 2697 | 66 | 1048 | 217 | 153 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation | 304 | 4 | 124 | 26 | 32 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 630 | 55 | 2321 | 722 | 6 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts | 13 | 23 | 394 | 222 | 2 |
| &nbsp;&nbsp;&nbsp;Non-U.S. taxes | 3511 | 100 | 5 | 51 |  |
| &nbsp;&nbsp;&nbsp;Other | 100 | 19 | — \* | 104 | 32 |
|  | 744830 | 2570 | 1823471 | 25057 | 3177 |
| **Net assets at December 31, 2022** | $24800574 | $367760 | $10221082 | $1481894 | $831554 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $19598942 | $316997 | $11855514 | $1808688 | $1203258 |
| Total distributable earnings (accumulated loss) | 5201632 | 50763 | (1634432) | (326794) | (371704) |
| **Net assets at December 31, 2022** | $24800574 | $367760 | $10221082 | $1481894 | $831554 |
| Investment securities on loan, at value | $67688 | $— | $— | $— | $— |
| Investment securities, at cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | 17788591 | 350438 | 10540249 | 1615990 | 860644 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 3328159 | 9409 | 1425521 | 47246 | 38557 |
| Cash denominated in currencies other than U.S. dollars, at cost | 594 | 86 | — \* | 728 | 5 |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 275

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **American<br> Funds<br> Mortgage<br> Fund** | **Ultra-Short<br> Bond Fund** | **U.S.<br> Government<br> Securities<br> Fund** | **Managed<br> Risk<br> Growth<br> Fund** | **Managed<br> Risk<br> International<br> Fund** |
| **Assets:** |  |  |  |  |  |
| Investment securities, at value: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | $107371 | $423579 | $1718005 | $11472 | $2805 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers |  |  |  | 421664 | 118962 |
| Cash | 2692 | 9083 | 40936 |  |  |
| Cash collateral received for securities on loan |  |  |  |  |  |
| Cash collateral pledged for futures contracts |  |  |  | 15705 | 2698 |
| Cash collateral pledged for swap contracts |  |  |  |  |  |
| Cash denominated in currencies other than U.S. dollars |  |  |  |  |  |
| Unrealized appreciation on open forward currency contracts |  |  |  |  |  |
| Unrealized appreciation on unfunded commitments |  |  |  |  |  |
| Receivables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales of investments | 9780 |  | 134003 | 6691 | 1022 |
| &nbsp;&nbsp;&nbsp;Sales of fund's shares | 42 | 322 | 2930 | 237 | 18 |
| &nbsp;&nbsp;&nbsp;Dividends and interest | 261 | 29 | 5528 | 57 | 13 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 2 |  | 185 | 1011 | 602 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts | 5 |  | 385 |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Currency translations |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other | 1 |  |  |  |  |
|  | 120154 | 433013 | 1901972 | 456837 | 126120 |
| **Liabilities:** |  |  |  |  |  |
| Collateral for securities on loan |  |  |  |  |  |
| Unrealized depreciation on open forward currency contracts |  |  |  |  |  |
| Unrealized depreciation on unfunded commitments |  |  |  |  |  |
| Payables for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of investments | 31002 |  | 398190 | 2108 | 19 |
| &nbsp;&nbsp;&nbsp;Repurchases of fund's shares | 22 | 504 | 1200 | 4 | 43 |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 13 | 95 | 226 | 39 | 11 |
| &nbsp;&nbsp;&nbsp;Insurance administrative fees | 25 | 50 | 119 | 287 | 80 |
| &nbsp;&nbsp;&nbsp;Services provided by related parties | 21 | 92 | 310 | 93 | 26 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation | 3 | 11 | 44 | 3 | 1 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 25 |  | 744 | 61 | 6 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts | — \* |  | 415 |  |  |
| &nbsp;&nbsp;&nbsp;Non-U.S. taxes |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other | — \* |  | 2 |  |  |
|  | 31111 | 752 | 401250 | 2595 | 186 |
| **Net assets at December 31, 2022** | $89043 | $432261 | $1500722 | $454242 | $125934 |
| **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | $99881 | $429623 | $1743160 | $471757 | $148875 |
| Total distributable earnings (accumulated loss) | (10838) | 2638 | (242438) | (17515) | (22941) |
| **Net assets at December 31, 2022** | $89043 | $432261 | $1500722 | $454242 | $125934 |
| Investment securities on loan, at value | $— | $— | $— | $— | $— |
| Investment securities, at cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | 109975 | 423636 | 1798414 | 12483 | 3035 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers |  |  |  | 474986 | 132656 |
| Cash denominated in currencies other than U.S. dollars, at cost |  |  |  |  |  |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

276 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Managed Risk<br> Washington<br> Mutual<br> Investors<br> Fund** | **Managed<br> Risk<br> Growth-<br> Income<br> Fund** | **Managed<br> Risk<br> Asset<br> Allocation<br> Fund** |
| **Assets:** |  |  |  |
| Investment securities, at value: |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | $7775 | $49790 | $70160 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 306922 | 1992489 | 2084270 |
| Cash |  |  |  |
| Cash collateral received for securities on loan |  |  |  |
| Cash collateral pledged for futures contracts | 6746 | 43741 | 34859 |
| Cash collateral pledged for swap contracts |  |  |  |
| Cash denominated in currencies other than U.S. dollars |  |  |  |
| Unrealized appreciation on open forward currency contracts |  |  |  |
| Unrealized appreciation on unfunded commitments |  |  |  |
| Receivables for: |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales of investments | 2029 | 13902 | 1056 |
| &nbsp;&nbsp;&nbsp;Sales of fund's shares | 72 | 11603 | 104 |
| &nbsp;&nbsp;&nbsp;Dividends and interest | 36 | 229 | 280 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 363 | 2759 | 2144 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income |  |  |  |
| &nbsp;&nbsp;&nbsp;Currency translations |  |  |  |
| &nbsp;&nbsp;&nbsp;Other |  |  |  |
|  | 323943 | 2114513 | 2192873 |
| **Liabilities:** |  |  |  |
| Collateral for securities on loan |  |  |  |
| Unrealized depreciation on open forward currency contracts |  |  |  |
| Unrealized depreciation on unfunded commitments |  |  |  |
| Payables for: |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of investments | 63 | 10953 |  |
| &nbsp;&nbsp;&nbsp;Repurchases of fund's shares | 92 | 420 | 1215 |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 28 | 179 | 188 |
| &nbsp;&nbsp;&nbsp;Insurance administrative fees | 201 | 1304 | 1381 |
| &nbsp;&nbsp;&nbsp;Services provided by related parties | 67 | 56 | 465 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation | 3 | 14 | 29 |
| &nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 17 | 143 | 123 |
| &nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swap contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-U.S. taxes |  |  |  |
| &nbsp;&nbsp;&nbsp;Other |  |  |  |
|  | 471 | 13069 | 3401 |
| **Net assets at December 31, 2022** | $323472 | $2101444 | $2189472 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | $321451 | $1965919 | $2033928 |
| Total distributable earnings (accumulated loss) | 2021 | 135525 | 155544 |
| **Net assets at December 31, 2022** | $323472 | $2101444 | $2189472 |
| Investment securities on loan, at value | $— | $— | $— |
| Investment securities, at cost |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated issuers | 8755 | 60766 | 71664 |
| &nbsp;&nbsp;&nbsp;Affiliated issuers | 334257 | 2105528 | 2174894 |
| Cash denominated in currencies other than U.S. dollars, at cost |  |  |  |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 277

Financial statements (continued)

---

| | |
|:---|:---|
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars and shares in thousands, except per-share amounts)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Global<br> Growth<br> Fund** | **Global<br> Small<br> Capitalization<br> Fund** | **Growth<br> Fund** | **International<br> Fund** | **New<br> World<br> Fund** |
| Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $3104085 | $915430 | $13660417 | $3157234 | $1610310 |
|  | Shares outstanding | 102854 | 56436 | 179057 | 206282 | 72225 |
|  | Net asset value per share | $30.18 | $16.22 | $76.29 | $15.31 | $22.30 |
| **Class 1A:** | Net assets | $14317 | $4256 | $187432 | $10423 | $8868 |
|  | Shares outstanding | 477 | 266 | 2479 | 685 | 399 |
|  | Net asset value per share | $30.04 | $16.00 | $75.61 | $15.23 | $22.19 |
| **Class 2:** | Net assets | $3233725 | $1762209 | $14451475 | $3163979 | $763546 |
|  | Shares outstanding | 108539 | 115167 | 191651 | 207745 | 34672 |
|  | Net asset value per share | $29.79 | $15.30 | $75.41 | $15.23 | $22.02 |
| **Class 3:** | Net assets |  |  | $187905 | $15480 |  |
|  | Shares outstanding | Not applicable | Not applicable | 2438 | 1008 | Not applicable |
|  | Net asset value per share |  |  | $77.09 | $15.35 |  |
| **Class 4:** | Net assets | $583527 | $261008 | $2409119 | $372465 | $701060 |
|  | Shares outstanding | 19774 | 17087 | 32713 | 24843 | 32104 |
|  | Net asset value per share | $29.51 | $15.28 | $73.64 | $14.99 | $21.84 |
|  |  | **Washington<br> Mutual<br> Investors<br> Fund** | **Capital<br> World Growth<br> and Income<br> Fund** | **<br>Growth-<br> Income<br> Fund** | **International<br> Growth<br> and Income<br> Fund** | **Capital<br> Income<br> Builder** |
| Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $5506834 | $548491 | $19692010 | $13396 | $586560 |
|  | Shares outstanding | 433800 | 46994 | 392155 | 1499 | 53377 |
|  | Net asset value per share | $12.69 | $11.67 | $50.21 | $8.94 | $10.99 |
| **Class 1A:** | Net assets | $64036 | $5749 | $28316 | $4894 | $9764 |
|  | Shares outstanding | 5079 | 496 | 567 | 562 | 890 |
|  | Net asset value per share | $12.61 | $11.61 | $49.93 | $8.70 | $10.98 |
| **Class 2:** | Net assets | $2775107 | $982987 | $11507731 | $162036 | $13016 |
|  | Shares outstanding | 222723 | 84464 | 232660 | 18628 | 1185 |
|  | Net asset value per share | $12.46 | $11.64 | $49.46 | $8.70 | $10.98 |
| **Class 3:** | Net assets |  |  | $124729 |  |  |
|  | Shares outstanding | Not applicable | Not applicable | 2478 | Not applicable | Not applicable |
|  | Net asset value per share |  |  | $50.33 |  |  |
| **Class 4:** | Net assets | $1097723 | $188171 | $1630181 | $120671 | $529726 |
|  | Shares outstanding | 88991 | 16576 | 33460 | 14090 | 48314 |
|  | Net asset value per share | $12.34 | $11.35 | $48.72 | $8.56 | $10.96 |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

278 American Funds Insurance Series

Financial statements (continued)

---

| | |
|:---|:---|
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars and shares in thousands, except per-share amounts)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Asset<br> Allocation<br> Fund** | **American**<br> **Funds**<br> **Global**<br> **Balanced**<br> **Fund<sup>†</sup>** | **The Bond<br> Fund<br> of America** | **Capital<br> World Bond<br> Fund** | **American<br> High-Income<br> Trust** |
| Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $15137832 | $96407 | $6369876 | $663191 | $223824 |
|  | Shares outstanding | 681900 | 7682 | 676909 | 69436 | 26230 |
|  | Net asset value per share | $22.20 | $12.55 | $9.41 | $9.55 | $8.53 |
| **Class 1A:** | Net assets | $26595 | $2555 | $220548 | $1344 | $1263 |
|  | Shares outstanding | 1203 | 204 | 23592 | 141 | 148 |
|  | Net asset value per share | $22.10 | $12.49 | $9.35 | $9.50 | $8.51 |
| **Class 2:** | Net assets | $4227802 | $157808 | $2843749 | $764813 | $521241 |
|  | Shares outstanding | 192995 | 12632 | 306636 | 80914 | 62452 |
|  | Net asset value per share | $21.91 | $12.49 | $9.27 | $9.45 | $8.35 |
| **Class 3:** | Net assets | $28209 |  |  |  | $8471 |
|  | Shares outstanding | 1269 | Not applicable | Not applicable | Not applicable | 987 |
|  | Net asset value per share | $22.23 |  |  |  | $8.58 |
| **Class 4:** | Net assets | $5380136 | $110990 | $786909 | $52546 | $76755 |
|  | Shares outstanding | 247415 | 9009 | 85213 | 5633 | 8291 |
|  | Net asset value per share | $21.75 | $12.32 | $9.23 | $9.33 | $9.26 |
|  |  | **American<br> Funds<br> Mortgage<br> Fund** | **Ultra-Short<br> Bond Fund** | **U.S.<br> Government<br> Securities<br> Fund** | **Managed<br> Risk<br> Growth<br> Fund** | **Managed<br> Risk<br> International<br> Fund** |
| Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 1:** | Net assets | $993 | $50347 | $241681 |  |  |
|  | Shares outstanding | 105 | 4436 | 24189 | Not applicable | Not applicable |
|  | Net asset value per share | $9.45 | $11.35 | $9.99 |  |  |
| **Class 1A:** | Net assets | $1656 | $10 | $3952 |  |  |
|  | Shares outstanding | 177 | 1 | 397 | Not applicable | Not applicable |
|  | Net asset value per share | $9.34 | $11.35 | $9.96 |  |  |
| **Class 2:** | Net assets | $46324 | $297253 | $1058577 |  |  |
|  | Shares outstanding | 4951 | 27031 | 107285 | Not applicable | Not applicable |
|  | Net asset value per share | $9.36 | $11.00 | $9.87 |  |  |
| **Class 3:** | Net assets |  | $4328 | $6507 |  |  |
|  | Shares outstanding | Not applicable | 389 | 649 | Not applicable | Not applicable |
|  | Net asset value per share |  | $11.14 | $10.02 |  |  |
| **Class 4:** | Net assets | $40070 | $80323 | $190005 |  |  |
|  | Shares outstanding | 4334 | 7267 | 19274 | Not applicable | Not applicable |
|  | Net asset value per share | $9.25 | $11.05 | $9.86 |  |  |
| **Class P1:** | Net assets |  |  |  | $9249 | $1762 |
|  | Shares outstanding | Not applicable | Not applicable | Not applicable | 813 | 205 |
|  | Net asset value per share |  |  |  | $11.37 | $8.61 |
| **Class P2:** | Net assets |  |  |  | $444993 | $124172 |
|  | Shares outstanding | Not applicable | Not applicable | Not applicable | 39434 | 14470 |
|  | Net asset value per share |  |  |  | $11.28 | $8.58 |

---

Refer to the end of the statements of assets and liabilities for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 279

Financial statements (continued)

---

| | |
|:---|:---|
| **Statements of assets and liabilities <br> at December 31, 2022 (continued)** | **(dollars and shares in thousands, except per-share amounts)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Managed Risk<br> Washington<br> Mutual<br> Investors<br> Fund** | **Managed<br> Risk<br> Growth-<br> Income<br> Fund** | **Managed<br> Risk<br> Asset<br> Allocation<br> Fund** |
| Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding<br> (no stated par value) — unlimited shares authorized |  |  |  |
| **Class P1:** | Net assets | $2748 | $1833437 | $7152 |
|  | Shares outstanding | 244 | 146536 | 575 |
|  | Net asset value per share | $11.24 | $12.51 | $12.43 |
| **Class P2:** | Net assets | $320724 | $268007 | $2182320 |
|  | Shares outstanding | 28686 | 21540 | 180515 |
|  | Net asset value per share | $11.18 | $12.44 | $12.09 |

---

---

| | |
|:---|:---|
| \* | Amount less than one thousand. |
| <sup>†</sup> | Formerly Global Balanced Fund. |

---

Refer to the notes to financial statements.

280 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of operations <br> for the year ended December 31, 2022** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Global<br> Growth<br> Fund** | **Global<br> Small<br> Capitalization<br> Fund** | **Growth<br> Fund** | **International<br> Fund** | **New<br> World<br> Fund** |
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>1</sup>): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | $99453 | $23688 | $315299 | $164844 | $57252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 9353 | 3871 | 22361 | 9392 | 4331 |
|  | 108806 | 27559 | 337660 | 174236 | 61583 |
| &nbsp;&nbsp;&nbsp;Interest from unaffiliated issuers | 53 | 25 | 1956 | 2 | 7384 |
| &nbsp;&nbsp;&nbsp;European Union withholding tax reclaims | 782 | 264 | 818 | 5544 | 358 |
| &nbsp;&nbsp;&nbsp;Interest from European Union withholding tax reclaims | 71 | 3 | 22 | 920 | 14 |
| &nbsp;&nbsp;&nbsp;Securities lending income (net of fees) | 178 | 2281 | 1158 | 1331 | 338 |
|  | 109890 | 30132 | 341614 | 182033 | 69677 |
| **Fees and expenses<sup>1</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 36131 | 21657 | 109146 | 35444 | 21012 |
| &nbsp;&nbsp;&nbsp;Distribution services | 10254 | 5525 | 48823 | 9585 | 3999 |
| &nbsp;&nbsp;&nbsp;Insurance administrative services | 1537 | 699 | 6939 | 1008 | 1923 |
| &nbsp;&nbsp;&nbsp;Transfer agent services | 1 | —<sup>2</sup> | 6 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;Administrative services | 2236 | 973 | 10468 | 2191 | 1018 |
| &nbsp;&nbsp;&nbsp;Accounting and administrative services |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Reports to shareholders | 77 | 41 | 299 | 90 | 34 |
| &nbsp;&nbsp;&nbsp;Registration statement and prospectus | 27 | 14 | 136 | 54 | 14 |
| &nbsp;&nbsp;&nbsp;Trustees' compensation | 10 | 5 | 45 | 10 | 5 |
| &nbsp;&nbsp;&nbsp;Auditing and legal | 79 | 92 | 105 | 90 | 109 |
| &nbsp;&nbsp;&nbsp;Custodian | 868 | 430 | 384 | 1246 | 758 |
| &nbsp;&nbsp;&nbsp;Other | 8 | 51 | 24 | 8 | 51 |
| Total fees and expenses before waivers/reimbursement | 51228 | 29487 | 176375 | 49727 | 28924 |
| &nbsp;&nbsp;&nbsp;Less waivers/reimbursement of fees and expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory services waivers | 5162 | 1011 | 1 |  | 3759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous fee reimbursement |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total waivers/reimbursement of fees and expenses | 5162 | 1011 | 1 |  | 3759 |
| Total fees and expenses after waivers/reimbursement | 46066 | 28476 | 176374 | 49727 | 25165 |
| Net investment income | 63824 | 1656 | 165240 | 132306 | 44512 |
| **Net realized gain (loss) and unrealized depreciation:** |  |  |  |  |  |
| Net realized gain (loss)<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | 555056 | 25932 | 1853746 | (374601) | (3895) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (71) | (30) | (325) | (112) | (44) |
| &nbsp;&nbsp;&nbsp;Futures contracts |  |  |  |  | 100 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |  | 379 |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |  | (2) |
| &nbsp;&nbsp;&nbsp;Currency transactions | (1864) | 50 | 654 | (3241) | 72 |
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 553121 | 25952 | 1854075 | (377954) | (3390) |
| Net unrealized (depreciation) appreciation<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (2977320) | (1267074) | (15238570) | (1582438) | (968542) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (19) | (25285) | 22 | (57) | 5 |
| &nbsp;&nbsp;&nbsp;Futures contracts |  |  |  |  | 129 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |  | (30) |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;Currency translations | 395 | (145) | (48) | (351) | (1943) |
|  | (2976944) | (1292504) | (15238596) | (1582846) | (970379) |
| Net realized gain (loss) and unrealized depreciation | (2423823) | (1266552) | (13384521) | (1960800) | (973769) |
| **Net (decrease) increase in net assets resulting from operations** | $(2359999) | $(1264896) | $(13219281) | $(1828494) | $(929257) |

---

Refer to the end of the statements of operations for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 281

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of operations <br> for the year ended December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Washington<br> Mutual<br> Investors<br> Fund** | **Capital<br> World Growth<br> and Income<br> Fund** | **Growth-<br> Income<br> Fund** | **International<br> Growth<br> and Income<br> Fund** | **Capital<br> Income<br> Builder** |
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>1</sup>): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | $229615 | $49442 | $601261 | $11087 | $32630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 6762 | 1469 | 40278 | 302 | 2614 |
|  | 236377 | 50911 | 641539 | 11389 | 35244 |
| &nbsp;&nbsp;&nbsp;Interest from unaffiliated issuers | 1 | 480 | 1322 |  | 4766 |
| &nbsp;&nbsp;&nbsp;European Union withholding tax reclaims |  |  | 3119 | 995 | 103 |
| &nbsp;&nbsp;&nbsp;Interest from European Union withholding tax reclaims |  |  | 292 | 35 |  |
| &nbsp;&nbsp;&nbsp;Securities lending income (net of fees) | 293 | 147 | 836 | 29 | 65 |
|  | 236671 | 51538 | 647108 | 12448 | 40178 |
| **Fees and expenses<sup>1</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 37368 | 9637 | 89899 | 1720 | 4443 |
| &nbsp;&nbsp;&nbsp;Distribution services | 10015 | 3172 | 35861 | 726 | 1368 |
| &nbsp;&nbsp;&nbsp;Insurance administrative services | 2882 | 499 | 4286 | 306 | 1362 |
| &nbsp;&nbsp;&nbsp;Transfer agent services | 2 | —<sup>2</sup> | 6 | —<sup>2</sup> | —<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Administrative services | 2969 | 558 | 10612 | 93 | 337 |
| &nbsp;&nbsp;&nbsp;Accounting and administrative services |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Reports to shareholders | 65 | 23 | 285 | 9 | 10 |
| &nbsp;&nbsp;&nbsp;Registration statement and prospectus | 29 | 5 | 109 | 5 | 3 |
| &nbsp;&nbsp;&nbsp;Trustees' compensation | 11 | 2 | 42 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;Auditing and legal | 52 | 69 | 102 | 82 | 70 |
| &nbsp;&nbsp;&nbsp;Custodian | 275 | 259 | 469 | 20 | 101 |
| &nbsp;&nbsp;&nbsp;Other | 5 | 6 | 23 | 22 | 1 |
| Total fees and expenses before waivers/reimbursement | 53673 | 14230 | 141694 | 2984 | 7696 |
| &nbsp;&nbsp;&nbsp;Less waivers/reimbursement of fees and expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory services waivers | 14561 | 2866 |  | 295 | 1989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous fee reimbursement |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total waivers/reimbursement of fees and expenses | 14561 | 2866 |  | 295 | 1989 |
| Total fees and expenses after waivers/reimbursement | 39112 | 11364 | 141694 | 2689 | 5707 |
| Net investment income | 197559 | 40174 | 505414 | 9759 | 34471 |
| **Net realized gain (loss) and unrealized depreciation:** |  |  |  |  |  |
| Net realized gain (loss)<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | 73904 | (82354) | 1822012 | (25009) | (1384) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (71) | 8 | (316) | (4) | (691) |
| &nbsp;&nbsp;&nbsp;Futures contracts |  |  |  |  | (7468) |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  | (54) | 7 |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |  | 1909 |
| &nbsp;&nbsp;&nbsp;Currency transactions | (22) | (382) | (871) | (231) | (125) |
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 73811 | (82728) | 1820825 | (25298) | (7752) |
| Net unrealized (depreciation) appreciation<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (1207072) | (336626) | (9143460) | (40723) | (104188) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 10 | (1) | 130 | (2) | (5193) |
| &nbsp;&nbsp;&nbsp;Futures contracts |  |  |  |  | (311) |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  | 5 | (2) |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |  | 36 |
| &nbsp;&nbsp;&nbsp;Currency translations | (3) | (154) | (173) | 1 | 64 |
|  | (1207065) | (336781) | (9143503) | (40719) | (109594) |
| Net realized gain (loss) and unrealized depreciation | (1133254) | (419509) | (7322678) | (66017) | (117346) |
| **Net (decrease) increase in net assets resulting from operations** | $(935695) | $(379335) | $(6817264) | $(56258) | $(82875) |

---

Refer to the end of the statements of operations for footnotes.

Refer to the notes to financial statements.

282 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of operations <br> for the year ended December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Asset<br> Allocation<br> Fund** | **American<br> Funds<br> Global<br> Balanced<br> Fund<sup>3</sup>** | **The Bond<br> Fund<br> of America** | **Capital<br> World Bond<br> Fund** | **American<br> High-Income<br> Trust** |
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>1</sup>): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | $388405 | $6485 | $1 | $65 | $3225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 80475 | 393 | 34880 | 3057 | 610 |
|  | 468880 | 6878 | 34881 | 3122 | 3835 |
| &nbsp;&nbsp;&nbsp;Interest from unaffiliated issuers | 178663 | 3237 | 331418 | 44637 | 52726 |
| &nbsp;&nbsp;&nbsp;European Union withholding tax reclaims | 23 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest from European Union withholding tax reclaims | 9 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income (net of fees) | 631 | 7 |  |  |  |
|  | 648206 | 10122 | 366299 | 47759 | 56561 |
| Fees and expenses<sup>1</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 70034 | 2063 | 39380 | 7727 | 3914 |
| &nbsp;&nbsp;&nbsp;Distribution services | 25560 | 721 | 9930 | 2251 | 1656 |
| &nbsp;&nbsp;&nbsp;Insurance administrative services | 14064 | 300 | 2381 | 146 | 203 |
| &nbsp;&nbsp;&nbsp;Transfer agent services | 4 | —<sup>2</sup> | 2 | —<sup>2</sup> | —<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Administrative services | 7927 | 118 | 3334 | 492 | 271 |
| &nbsp;&nbsp;&nbsp;Accounting and administrative services |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Reports to shareholders | 164 | 6 | 91 | 22 | 17 |
| &nbsp;&nbsp;&nbsp;Registration statement and prospectus | 51 | 2 | 216 | 5 | 4 |
| &nbsp;&nbsp;&nbsp;Trustees' compensation | 30 | —<sup>2</sup> | 12 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;Auditing and legal | 83 | 54 | 59 | 51 | 49 |
| &nbsp;&nbsp;&nbsp;Custodian | 616 | 69 | 95 | 143 | 18 |
| &nbsp;&nbsp;&nbsp;Other | 17 | 4 | 11 | 6 | 18 |
| Total fees and expenses before waivers/reimbursement | 118550 | 3337 | 55511 | 10845 | 6152 |
| &nbsp;&nbsp;&nbsp;Less waivers/reimbursement of fees and expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory services waivers |  | 25 | 21118 | 611 | 1428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous fee reimbursement |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total waivers/reimbursement of fees and expenses |  | 25 | 21118 | 611 | 1428 |
| Total fees and expenses after waivers/reimbursement | 118550 | 3312 | 34393 | 10234 | 4724 |
| Net investment income | 529656 | 6810 | 331906 | 37525 | 51837 |
| **Net realized gain (loss) and unrealized depreciation:** |  |  |  |  |  |
| Net realized gain (loss)<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | 867100 | 41092 | (720113) | (161648) | (27908) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (24724) | 3 | (218) | 17 | (7) |
| &nbsp;&nbsp;&nbsp;Futures contracts | 65437 | 539 | (136499) | (7447) | 1533 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  | (1292) | 1795 | (18216) |  |
| &nbsp;&nbsp;&nbsp;Swap contracts | (73) | 142 | 28243 | (796) | (82) |
| &nbsp;&nbsp;&nbsp;Currency transactions | 4210 | (235) | (118) | (3040) | 21 |
| Capital gain distributions received from affiliated issuers |  |  |  |  |  |
|  | 911950 | 40249 | (826910) | (191130) | (26443) |
| Net unrealized (depreciation) appreciation<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (5229896) | (113353) | (1058517) | (184433) | (118628) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (273363) | 51 | 76 | 1587 | 4 |
| &nbsp;&nbsp;&nbsp;Futures contracts | 13070 | (454) | (6976) | (3811) | 123 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  | 725 | 4002 | 4071 |  |
| &nbsp;&nbsp;&nbsp;Swap contracts | (1575) | (763) | 12978 | (6561) | (161) |
| &nbsp;&nbsp;&nbsp;Currency translations | 6 | 14 | 48 | 566 | (31) |
|  | (5491758) | (113780) | (1048389) | (188581) | (118693) |
| Net realized gain (loss) and unrealized depreciation | (4579808) | (73531) | (1875299) | (379711) | (145136) |
| **Net (decrease) increase in net assets resulting from operations** | $(4050152) | $(66721) | $(1543393) | $(342186) | $(93299) |

---

Refer to the end of the statements of operations for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 283

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of operations<br> for the year ended December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **American<br> Funds<br> Mortgage<br> Fund** | **Ultra-Short<br>Bond Fund** | **U.S.<br> Government<br> Securities<br> Fund** | **Managed<br> Risk<br> Growth<br> Fund** | **Managed<br> Risk<br> International<br> Fund** |
| **Investment income:** |  |  |  |  |  |
| Income (net of non-U.S. taxes<sup>1</sup>): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | $— | $— | $— | $265 | $55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers |  |  |  | 3820 | 2700 |
|  |  |  |  | 4085 | 2755 |
| &nbsp;&nbsp;&nbsp;Interest from unaffiliated issuers | 2336 | 7293 | 52923 |  |  |
| &nbsp;&nbsp;&nbsp;European Union withholding tax reclaims |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest from European Union withholding tax reclaims |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income (net of fees) |  |  |  |  |  |
|  | 2336 | 7293 | 52923 | 4085 | 2755 |
| Fees and expenses<sup>1</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 350 | 1110 | 5345 | 746 | 208 |
| &nbsp;&nbsp;&nbsp;Distribution services | 228 | 889 | 3494 | 1219 | 342 |
| &nbsp;&nbsp;&nbsp;Insurance administrative services | 105 | 173 | 522 | 1244 | 346 |
| &nbsp;&nbsp;&nbsp;Transfer agent services | —<sup>2</sup> | —<sup>2</sup> | —<sup>2</sup> | —<sup>2</sup> | —<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Administrative services | 31 | 121 | 503 |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and administrative services |  |  |  | 58 | 49 |
| &nbsp;&nbsp;&nbsp;Reports to shareholders | 5 | 7 | 21 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;Registration statement and prospectus | 2 | 3 | 7 | 4 | 2 |
| &nbsp;&nbsp;&nbsp;Trustees' compensation | —<sup>2</sup> | —<sup>2</sup> | 2 | 1 | —<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Auditing and legal | 44 | 43 | 46 | 16 | 16 |
| &nbsp;&nbsp;&nbsp;Custodian | 17 | 1 | 29 | 6 | 7 |
| &nbsp;&nbsp;&nbsp;Other | —<sup>2</sup> | —<sup>2</sup> | 1 | —<sup>2</sup> | —<sup>2</sup> |
| Total fees and expenses before waivers/reimbursement | 782 | 2347 | 9970 | 3296 | 971 |
| &nbsp;&nbsp;&nbsp;Less waivers/reimbursement of fees and expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory services waivers | 158 |  | 2256 | 249 | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous fee reimbursement |  |  |  |  | 32 |
| &nbsp;&nbsp;&nbsp;Total waivers/reimbursement of fees and expenses | 158 |  | 2256 | 249 | 101 |
| Total fees and expenses after waivers/reimbursement | 624 | 2347 | 7714 | 3047 | 870 |
| Net investment income | 1712 | 4946 | 45209 | 1038 | 1885 |
| **Net realized gain (loss) and unrealized depreciation:** |  |  |  |  |  |
| Net realized gain (loss)<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (9212) | —<sup>2</sup> | (104839) | (3857) | (1108) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers |  |  |  | (26901) | (9724) |
| &nbsp;&nbsp;&nbsp;Futures contracts | (2688) |  | (52928) | 1884 | 4007 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap contracts | 3147 |  | 20919 |  |  |
| &nbsp;&nbsp;&nbsp;Currency transactions |  |  |  | 127 | 29 |
| Capital gain distributions received from affiliated issuers |  |  |  | 60533 | 16270 |
|  | (8753) | —<sup>2</sup> | (136848) | 31786 | 9474 |
| Net unrealized (depreciation) appreciation<sup>1</sup> on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (3365) | (59) | (99107) | 399 | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers |  |  |  | (191173) | (38192) |
| &nbsp;&nbsp;&nbsp;Futures contracts | (79) |  | (3785) | 8824 | 1394 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap contracts | (1585) |  | (7297) |  |  |
| &nbsp;&nbsp;&nbsp;Currency translations |  |  |  |  |  |
|  | (5029) | (59) | (110189) | (181950) | (36471) |
| Net realized gain (loss) and unrealized depreciation | (13782) | (59) | (247037) | (150164) | (26997) |
| **Net (decrease) increase in net assets resulting from operations** | $(12070) | $4887 | $(201828) | $(149126) | $(25112) |

---

Refer to the end of the statements of operations for footnotes.

Refer to the notes to financial statements.

284 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of operations<br> for the year ended December 31, 2022 (continued)** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Managed Risk<br> Washington<br> Mutual<br> Investors<br> Fund** | **Managed<br> Risk<br> Growth-<br> Income<br> Fund** | **Managed<br> Risk<br> Asset<br> Allocation<br> Fund** |
| **Investment income:** |  |  |  |
| Income (net of non-U.S. taxes<sup>1</sup>): |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | $158 | $1054 | $1230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 7293 | 37268 | 46591 |
|  | 7451 | 38322 | 47821 |
| &nbsp;&nbsp;&nbsp;Interest from unaffiliated issuers |  |  |  |
| &nbsp;&nbsp;&nbsp;European Union withholding tax reclaims |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest from European Union withholding tax reclaims |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities lending income (net of fees) |  |  |  |
|  | 7451 | 38322 | 47821 |
| Fees and expenses<sup>1</sup>: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment advisory services | 499 | 3399 | 3572 |
| &nbsp;&nbsp;&nbsp;Distribution services | 824 | 720 | 5935 |
| &nbsp;&nbsp;&nbsp;Insurance administrative services | 830 | 5665 | 5953 |
| &nbsp;&nbsp;&nbsp;Transfer agent services | —<sup>2</sup> | —<sup>2</sup> | —<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;Administrative services |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounting and administrative services | 53 | 96 | 98 |
| &nbsp;&nbsp;&nbsp;Reports to shareholders | 2 | 5 | 6 |
| &nbsp;&nbsp;&nbsp;Registration statement and prospectus | 3 | 10 | 13 |
| &nbsp;&nbsp;&nbsp;Trustees' compensation | —<sup>2</sup> | 2 | 3 |
| &nbsp;&nbsp;&nbsp;Auditing and legal | 16 | 18 | 19 |
| &nbsp;&nbsp;&nbsp;Custodian | 7 | 7 | 6 |
| &nbsp;&nbsp;&nbsp;Other | —<sup>2</sup> | 1 | 1 |
| Total fees and expenses before waivers/reimbursement | 2234 | 9923 | 15606 |
| &nbsp;&nbsp;&nbsp;Less waivers/reimbursement of fees and expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment advisory services waivers | 166 | 1135 | 1192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous fee reimbursement |  |  |  |
| &nbsp;&nbsp;&nbsp;Total waivers/reimbursement of fees and expenses | 166 | 1135 | 1192 |
| Total fees and expenses after waivers/reimbursement | 2068 | 8788 | 14414 |
| Net investment income | 5383 | 29534 | 33407 |
| **Net realized gain (loss) and unrealized depreciation:** |  |  |  |
| Net realized gain (loss)<sup>1</sup> on: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | (3288) | (38643) | (5894) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | 32672 | 156797 | 55156 |
| &nbsp;&nbsp;&nbsp;Futures contracts | (4543) | (51822) | (47767) |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Currency transactions | 43 | 322 | 259 |
| Capital gain distributions received from affiliated issuers | 61850 | 179634 | 231217 |
|  | 86734 | 246288 | 232971 |
| Net unrealized (depreciation) appreciation<sup>1</sup> on: |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments in: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unaffiliated issuers | 51 | 7712 | 396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated issuers | (128265) | (743318) | (666676) |
| &nbsp;&nbsp;&nbsp;Futures contracts | 2705 | 17339 | 13823 |
| &nbsp;&nbsp;&nbsp;Forward currency contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap contracts |  |  |  |
| &nbsp;&nbsp;&nbsp;Currency translations |  |  |  |
|  | (125509) | (718267) | (652457) |
| Net realized gain (loss) and unrealized depreciation | (38775) | (471979) | (419486) |
| **Net (decrease) increase in net assets resulting from operations** | $(33392) | $(442445) | $(386079) |

---

<sup>1</sup> Additional information related to non-U.S. taxes and class-specific fees and expenses is included in the notes to financial statements.

<sup>2</sup> Amount less than one thousand.

<sup>3</sup> Formerly Global Balanced Fund.

Refer to the notes to financial statements.

American Funds Insurance Series 285

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of changes in net assets** | **(dollars in thousands)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Global Growth Fund** | **Global Growth Fund** | **Global Small <br> Capitalization Fund** | **Global Small <br> Capitalization Fund** | **Growth Fund** | **Growth Fund** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $63824 | $36408 | $1656 | $(11335) | $165240 | $87664 |
| Net realized gain (loss) | 553121 | 846935 | 25952 | 1098836 | 1854075 | 5061178 |
| Net unrealized (depreciation) appreciation | (2976944) | 485952 | (1292504) | (710657) | (15238596) | 3147345 |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (2359999) | 1369295 | (1264896) | 376844 | (13219281) | 8296187 |
| **Distributions paid to shareholders** | (892563) | (486343) | (1091116) | (123155) | (5140514) | (5437958) |
| **Net capital share transactions** | 597636 | 466658 | 721994 | (989509) | 3850397 | 3623473 |
| **Total (decrease) increase in net assets** | (2654926) | 1349610 | (1634018) | (735820) | (14509398) | 6481702 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 9590580 | 8240970 | 4576921 | 5312741 | 45405746 | 38924044 |
| End of year | $6935654 | $9590580 | $2942903 | $4576921 | $30896348 | $45405746 |
|  | **International Fund** | **International Fund** | **New World Fund** | **New World Fund** | **Washington Mutual <br> Investors Fund** | **Washington Mutual <br> Investors Fund** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $132306 | $147317 | $44512 | $32010 | $197559 | $173016 |
| Net realized gain (loss) | (377954) | 1273483 | (3390) | 318018 | 73811 | 2286033 |
| Net unrealized (depreciation) appreciation | (1582846) | (1501184) | (970379) | (136128) | (1207065) | 81431 |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (1828494) | (80384) | (929257) | 213900 | (935695) | 2540480 |
| **Distributions paid to shareholders** | (1146487) | (249096) | (357382) | (185700) | (2416808) | (166149) |
| **Net capital share transactions** | 265209 | (832025) | (77021) | 176091 | 1331066 | (488260) |
| **Total (decrease) increase in net assets** | (2709772) | (1161505) | (1363660) | 204291 | (2021437) | 1886071 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 9429353 | 10590858 | 4447444 | 4243153 | 11465137 | 9579066 |
| End of year | $6719581 | $9429353 | $3083784 | $4447444 | $9443700 | $11465137 |

---

Refer to the end of the statements of changes in net assets for footnotes.

Refer to the notes to financial statements.

286 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of changes in net assets (continued)** | **(dollars in thousands)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Capital<br> World Growth <br> and Income Fund** | **Capital<br> World Growth <br> and Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **International Growth <br> and Income Fund** | **International Growth <br> and Income Fund** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $40174 | $44268 | $505414 | $480125 | $9759 | $34510 |
| Net realized gain (loss) | (82728) | 410057 | 1820825 | 3512628 | (25298) | 357845 |
| Net unrealized (depreciation) appreciation | (336781) | (139980) | (9143503) | 4888658 | (40719) | (342815) |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (379335) | 314345 | (6817264) | 8881411 | (56258) | 49540 |
| **Distributions paid to shareholders** | (454298) | (90172) | (3956410) | (915114) | (154047) | (14532) |
| **Net capital share transactions** | 175376 | (14968) | 804156 | (3505347) | 132760 | (1112349) |
| **Total (decrease) increase in net assets** | (658257) | 209205 | (9969518) | 4460950 | (77545) | (1077341) |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 2383655 | 2174450 | 42952485 | 38491535 | 378542 | 1455883 |
| End of year | $1725398 | $2383655 | $32982967 | $42952485 | $300997 | $378542 |
|  | **Capital Income Builder** | **Capital Income Builder** | **Asset Allocation Fund** | **Asset Allocation Fund** | **American Funds<br> Global Balanced Fund\*** | **American Funds<br> Global Balanced Fund\*** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $34471 | $32730 | $529656 | $496078 | $6810 | $4583 |
| Net realized gain (loss) | (7752) | 44998 | 911950 | 2982523 | 40249 | 24122 |
| Net unrealized (depreciation) appreciation | (109594) | 81302 | (5491758) | 990457 | (113780) | 17602 |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (82875) | 159030 | (4050152) | 4469058 | (66721) | 46307 |
| **Distributions paid to shareholders** | (31988) | (29764) | (3253724) | (1541316) | (2232) | (29247) |
| **Net capital share transactions** | 109402 | (81691) | 1398530 | (1879473) | (30663) | (4816) |
| **Total (decrease) increase in net assets** | (5461) | 47575 | (5905346) | 1048269 | (99616) | 12244 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 1144527 | 1096952 | 30705920 | 29657651 | 467376 | 455132 |
| End of year | $1139066 | $1144527 | $24800574 | $30705920 | $367760 | $467376 |

---

Refer to the end of the statements of changes in net assets for footnotes.

Refer to the notes to financial statements.

American Funds Insurance Series 287

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of changes in net assets (continued)** | **(dollars in thousands)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **The Bond Fund<br> of America** | **The Bond Fund<br> of America** | **Capital World Bond Fund** | **Capital World Bond Fund** | **American <br> High-Income Trust** | **American <br> High-Income Trust** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $331906 | $215953 | $37525 | $42586 | $51837 | $47176 |
| Net realized gain (loss) | (826910) | 129232 | (191130) | 16012 | (26443) | 7485 |
| Net unrealized (depreciation) appreciation | (1048389) | (353151) | (188581 | (168792 | (118693) | 21386 |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (1543393) | (7966) | (342186 | (110194 | (93299) | 76047 |
| **Distributions paid to shareholders** | (462954) | (687442) | (30830) | (91748) | (67772) | (43416) |
| **Net capital share transactions** | (959150) | 2474568 | (230098 | (51795 | (59810) | 152225 |
| **Total (decrease) increase in net assets** | (2965497) | 1779160 | (603114) | (253737) | (220881) | 184856 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 13186579 | 11407419 | 2085008 | 2338745 | 1052435 | 867579 |
| End of year | $10221082 | $13186579 | $1481894 | $2085008 | $831554 | $1052435 |
|  | **American Funds <br> Mortgage Fund** | **American Funds <br> Mortgage Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **U.S. Government <br> Securities Fund** | **U.S. Government <br> Securities Fund** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $1712 | $1555 | $4946 | $(1883) | $45209 | $26482 |
| Net realized gain (loss) | (8753) | (90) |  |  | (136848) | (5219) |
| Net unrealized (depreciation) appreciation | (5029) | (2808) | (59 | (4 | (110189) | (36820) |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (12070) | (1343) | 4887 | (1887 | (201828) | (15557) |
| **Distributions paid to shareholders** | (1793) | (13157) | (2237) |  | (60476) | (209728) |
| **Net capital share transactions** | (231492) | 29279 | 96950 | (41201 | (402273) | 236927 |
| **Total (decrease) increase in net assets** | (245355) | 14779 | 99600 | (43088) | (664577) | 11642 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 334398 | 319619 | 332661 | 375749 | 2165299 | 2153657 |
| End of year | $89043 | $334398 | $432261 | $332661 | $1500722 | $2165299 |

---

Refer to the end of the statements of changes in net assets for footnotes.

Refer to the notes to financial statements.

288 American Funds Insurance Series

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of changes in net assets (continued)** | **(dollars in thousands)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Managed Risk<br> Growth Fund** | **Managed Risk<br> Growth Fund** | **Managed Risk<br> International Fund** | **Managed Risk<br> International Fund** | **Managed Risk<br> Washington Mutual<br> Investors Fund** | **Managed Risk<br> Washington Mutual<br> Investors Fund** |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $1038 | $(392) | $1885 | $2984 | $5383 | $3320 |
| Net realized gain (loss) | 31786 | 93312 | 9474 | 654 | 86734 | 15848 |
| Net unrealized (depreciation) appreciation | (181950) | (21491) | (36471) | (10287) | (125509) | 38411 |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (149126) | 71429 | (25112) | (6649) | (33392) | 57579 |
| **Distributions paid to shareholders** | (90246) | (27384) | (4275) | (931) | (14671) | (6019) |
| **Net capital share transactions** | 97021 | (11898) | (6014) | (654) | (1502) | (34883) |
| **Total (decrease) increase in net assets** | (142351) | 32147 | (35401) | (8234) | (49565) | 16677 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 596593 | 564446 | 161335 | 169569 | 373037 | 356360 |
| End of year | $454242 | $596593 | $125934 | $161335 | $323472 | $373037 |
|  | **Managed Risk<br> Growth-Income Fund** | **Managed Risk<br> Growth-Income Fund** | **Managed Risk<br> Asset Allocation Fund** | **Managed Risk<br> Asset Allocation Fund** |  |  |
|  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |  |  |
|  | **2022** | **2021** | **2022** | **2021** |  |  |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $29534 | $23938 | $33407 | $29121 |  |  |
| Net realized gain (loss) | 246288 | 49377 | 232971 | 133738 |  |  |
| Net unrealized (depreciation) appreciation | (718267) | 292194 | (652457) | 169648 |  |  |
| &nbsp;&nbsp;&nbsp;Net (decrease) increase in net assets resulting from operations | (442445) | 365509 | (386079) | 332507 |  |  |
| **Distributions paid to shareholders** | (99803) | (68168) | (138964) | (38227) |  |  |
| **Net capital share transactions** | (23880) | (64385) | (104505) | (254031) |  |  |
| **Total (decrease) increase in net assets** | (566128) | 232956 | (629548) | 40249 |  |  |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of year | 2667572 | 2434616 | 2819020 | 2778771 |  |  |
| End of year | $2101444 | $2667572 | $2189472 | $2819020 |  |  |

---

---

| | |
|:---|:---|
| \* | Formerly Global Balanced Fund. |
| <sup>†</sup> | Amount less than one thousand. |

---

Refer to the notes to financial statements.

American Funds Insurance Series 289

Notes to financial statements

**1. Organization**

American Funds Insurance Series (the "series") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company with 34 different funds ("the funds"), including 23 funds in the series covered in this report. The other 11 funds in the series are covered in separate reports. Six funds in the series are covered in the American Funds Insurance Series - Target Date Series report and five funds in the series are covered in the American Funds Insurance Series - Portfolio Series report. The assets of each fund are segregated, with each fund accounted for separately. Capital Research and Management Company ("CRMC") is the series' investment adviser. Milliman Financial Risk Management LLC ("Milliman FRM") is the subadviser for the risk management strategy for eight of the funds (the "managed risk funds"), five of which are covered in this report.

The managed risk funds covered in this report are Managed Risk Growth Fund, Managed Risk International Fund, Managed Risk Washington Mutual Investors Fund, Managed Risk Growth-Income Fund and Managed Risk Asset Allocation Fund. The managed risk funds invest in other funds within the series (the "underlying funds") and employ Milliman FRM to implement the risk management strategy, which consists of using hedging instruments — primarily exchange-traded options and futures contracts — to attempt to stabilize the volatility of the funds around target volatility levels and reduce the downside exposure of the funds during periods of significant market declines.

Shareholders approved a proposal to reorganize the series from a Massachusetts business trust to a Delaware statutory trust. The series reserved the right to delay implementing the reorganization and has elected to do so.

The investment objective(s) for each fund covered in this report are as follows:

**Global Growth Fund** — To provide long-term growth of capital.

**Global Small Capitalization Fund** — To provide long-term growth of capital.

**Growth Fund** — To provide growth of capital.

**International Fund** — To provide long-term growth of capital.

**New World Fund** — To provide long-term capital appreciation.

**Washington Mutual Investors Fund** — To produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing.

**Capital World Growth and Income Fund** — To provide long-term growth of capital while providing current income.

**Growth-Income Fund** — To achieve long-term growth of capital and income.

**International Growth and Income Fund** — To provide long-term growth of capital while providing current income.

**Capital Income Builder** — The two primary objectives are (1) to provide a level of current income that exceeds the average yield on U.S. stocks generally and (2) to provide a growing stream of income over the years. The secondary objective is to provide growth of capital.

**Asset Allocation Fund** — To provide high total return (including income and capital gains) consistent with preservation of capital over the long term.

**American Funds Global Balanced Fund (formerly Global Balanced Fund)** — Seeks the balanced accomplishment of three objectives: long-term growth of capital, conservation of principal and current income.

**The Bond Fund of America** — To provide as high a level of current income as is consistent with the preservation of capital.

**Capital World Bond Fund** — To provide, over the long term, a high level of total return consistent with prudent investment management.

**American High-Income Trust** — The primary objective is to provide a high level of current income. The secondary objective is capital appreciation.

290 American Funds Insurance Series

**American Funds Mortgage Fund** — To provide current income and preservation of capital.

**Ultra-Short Bond Fund** — To provide current income, consistent with the maturity and quality standards applicable to the fund, and preservation of capital and liquidity.

**U.S. Government Securities Fund** — To provide a high level of current income consistent with prudent investment risk and preservation of capital.

**Managed Risk Growth Fund** — To provide growth of capital while seeking to manage volatility and provide downside protection.

**Managed Risk International Fund** — To provide long-term growth of capital while seeking to manage volatility and provide downside protection.

**Managed Risk Washington Mutual Investors Fund** — To produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing, in each case while seeking to manage volatility and provide downside protection.

**Managed Risk Growth-Income Fund** — To achieve long-term growth of capital and income while seeking to manage volatility and provide downside protection.

**Managed Risk Asset Allocation Fund** — To provide high total return (including income and capital gains) consistent with preservation of capital over the long term while seeking to manage volatility and provide downside protection.

Each fund in the series, except the managed risk funds, offers either four or five share classes (Classes 1, 1A, 2, 3 or 4); the managed risk funds offer two share classes (Classes P1 and P2). Holders of all share classes of each fund have equal pro rata rights to assets, dividends and liquidation proceeds of each fund held. Each share class of each fund has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses ("class-specific fees and expenses"), primarily due to different arrangements for certain distribution expenses. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each class of each fund.

**2. Significant accounting policies**

Each fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. Each fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the series' investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The funds follow the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Cash** — Cash may include amounts held in an interest bearing deposit facility.

**Security transactions and related investment income** — Security transactions are recorded by each fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, each fund will segregate liquid assets sufficient to meet their payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

**Fees and expenses** — The fees and expenses of the underlying funds held by the managed risk funds are not included in the fees and expenses reported for each of the managed risk funds; however, they are indirectly reflected in the valuation of each of the underlying funds. These fees are included in the unaudited net effective expense ratios that are provided as additional information in the financial highlights tables.

American Funds Insurance Series 291

**Class allocations** — Income, fees and expenses (other than class-specific fees and expenses), realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes of each fund based on their relative net assets. Class-specific fees and expenses, such as distribution expenses, are accrued daily and charged directly to the respective share class of each fund.

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on each fund's ex-dividend date.

**Currency translation** — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the funds' statements of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

**3. Valuation**

CRMC, the series' investment adviser, values the funds' investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

**Methods and inputs** — The series' investment adviser uses the following methods and inputs to establish the fair value of each fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades. The value of an underlying fund is based on its reported net asset value.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the funds are authorized to invest. However, these classifications are not exclusive and any of the inputs may be used to value any other class of fixed-income security.

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as "standard inputs") |
| Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| Mortgage-backed; asset-backed obligations | Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information |
| Municipal securities | Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts |

---

292 American Funds Insurance Series

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the series' investment adviser. The Capital Group Central Corporate Bond Fund ("CCBF"), a fund within the Capital Group Central Fund Series II, and Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series (collectively the "Central Funds"), are each valued based upon a floating net asset value, which fluctuates with changes in the value of each fund's portfolio securities. The underlying securities are valued based on the policies and procedures in the Central Funds' statements of additional information. The State Street Institutional U.S. Government Money Market Fund held by the managed risk funds is managed to maintain a $1.00 net asset value per share. The net asset value of each share class of each managed risk fund is calculated based on the reported net asset values of the underlying funds in which each fund invests.

Exchange-traded options and futures are generally valued at the official closing price for options and official settlement price for futures of the exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the series' investment adviser are fair valued as determined in good faith under fair value guidelines adopted by the series' investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities and futures that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of each fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

**Processes and structure** — The series' board of trustees has designated the series' investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Fair Valuation Committee") to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees. The series' board and audit committee also regularly review reports that describe fair value determinations and methods.

The series' investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group.

**Classifications** — The series' investment adviser classifies the funds' assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities.

The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The tables on the following pages present the funds' valuation levels as of December 31, 2022 (dollars in thousands):

American Funds Insurance Series 293

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | $923708 | $643291 | $— | $1566999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 1027635 | 489438 |  | 1517073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 493333 | 473688 |  | 967021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 213109 | 405801 | — \* | 618910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 308045 | 286104 |  | 594149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 203723 | 319481 |  | 523204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 163263 | 172648 | — \* | 335911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 200063 | 25242 |  | 225305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 146303 | 39149 |  | 185452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate |  | 12072 |  | 12072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 7666 |  |  | 7666 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  | 115128 |  | 115128 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 164535 | 114615 |  | 279150 |
| **Total** | $**3851383** | $**3096657** | $**—** **\*** | $**6948040** |
| \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. |
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | $145496 | $462740 | $— | $608236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 278192 | 271360 | 842 | 550394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 319599 | 207610 |  | 527209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 368441 | 133632 |  | 502073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 82339 | 175020 |  | 257359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 8263 | 96602 |  | 104865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 35375 | 39017 |  | 74392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 13782 | 16503 | 25418 | 55703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 25084 | 27091 |  | 52175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 10353 | 37278 |  | 47631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 18150 | 27079 |  | 45229 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 7126 |  | 18452 | 25578 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** |  | 10007 |  | 10007 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 148662 |  |  | 148662 |
| **Total** | $**1460862** | $**1503939** | $**44712** | $**3009513** |

---

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the year ended December 31, 2022 (dollars in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning<br> value at<br> 1/1/2022** | **Transfers<br> into<br> Level 3\*** | **Purchases** | **Sales** | **Net<br> realized<br> gain** | **Unrealized**<br> **depreciation<sup>†</sup>** | **Transfers<br> out of<br> Level 3\*** | **Ending<br> value at<br> 12/31/2022** |
| Investment securities | $44963 | $— | $— | $— | $— | $(251) | $— | $44712 |
| Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | $(251) |

---

---

| | |
|:---|:---|
| \* | Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities. |
| <sup>†</sup> | Net unrealized depreciation is included in the related amounts on investments in the fund's statement of operations. |

---

294 American Funds Insurance Series

**Unobservable inputs** — Valuation of the fund's Level 3 securities is based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The following table provides additional information used by the fund's investment adviser to fair value the fund's Level 3 securities (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Value at**<br> **12/31/2022** | **Valuation**<br> **techniques** | **Unobservable**<br> **inputs** | **Range**<br> **(if applicable)** | **Weighted**<br> **average\*** | **Impact to**<br> **valuation from**<br> **an increase in**<br> **input<sup>†</sup>** |
| Common stocks | $26260 | Market comparable companies | Price/Cash flow multiple | 5.7x | 5.7x | Increase |
| Common stocks | $26260 | Market comparable companies | EV/Sales multiple | 6.2x | 6.2x | Increase |
| Common stocks | $26260 | Market comparable companies | DLOM | 16% | 16% | Decrease |
| Common stocks | $26260 | Market comparable companies | Discount for lack of certainty | 10% | 10% | Decrease |
| Common stocks | $26260 | Market comparable companies | Risk discount | 25% | 25% | Decrease |
| Preferred securities | 18452 | Transaction price | N/A | N/A | N/A | N/A |
| Preferred securities | 18452 | Market comparable companies | EV/Sales multiple | 6.2x - 12.9x | 11.0x | Increase |
| Preferred securities | 18452 | Market comparable companies | Risk discount | 25% | 25% | Decrease |
| Preferred securities | 18452 | Market comparable companies | Net adjustment (decrease) based on movement of market comparables | 44% | 44% | Decrease |
| Preferred securities | 18452 | Market comparable companies | DLOM | 10% | 10% | Decrease |
| **Total** | **$44712** |  |  |  |  |  |

---

---

| | |
|:---|:---|
| \* | Weighted average is by relative fair value. |
| <sup>†</sup> | This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |

---

**Key to abbreviations**

DLOM = Discount for lack of marketability

EV = Enterprise value

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** | **Growth Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | $5461425 | $723030 | $4704 | $6189159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 5188144 | 115484 | 45222 | 5348850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 4793527 | 439744 |  | 5233271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 3950043 | 25714 |  | 3975757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 3112991 | 255410 |  | 3368401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 1737621 | 91688 |  | 1829309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 1796618 |  |  | 1796618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 973571 |  |  | 973571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 596091 | 109850 |  | 705941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 243420 |  |  | 243420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 33920 |  |  | 33920 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  | 21366 | 36770 | 58136 |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** | 7202 |  |  | 7202 |
| &nbsp;&nbsp;&nbsp;**Convertible bonds & notes** |  |  | 7146 | 7146 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments** |  | 15245 |  | 15245 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 1192835 |  |  | 1192835 |
| **Total** | $**29087408** | $**1797531** | $**93842** | $**30978781** |

---

American Funds Insurance Series 295

---

| | | | | |
|:---|:---|:---|:---|:---|
| **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | $64860 | $1053264 | $— | $1118124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 296778 | 622282 | 4282 | 923342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 29009 | 812708 |  | 841717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 397065 | 317708 |  | 714773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 172457 | 531541 |  | 703998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 135708 | 472880 |  | 608588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 78042 | 530056 |  | 608098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 185096 | 231351 | — \* | 416447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples |  | 289938 |  | 289938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities |  | 119038 |  | 119038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate |  | 39066 |  | 39066 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 24464 | 28174 | 392 | 53030 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** |  | 8446 |  | 8446 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 307469 |  |  | 307469 |
| **Total** | $**1690948** | $**5056452** | $**4674** | $**6752074** |
| \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. |
| **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | $263065 | $173417 | $342 | $436824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 67929 | 361956 | — \* | 429885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 188331 | 216848 |  | 405179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 108081 | 225883 |  | 333964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 105950 | 224085 | — \* | 330035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 162789 | 82689 | — \* | 245478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 60987 | 131035 | — \* | 192022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 81746 | 76207 | — \* | 157953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 47738 | 105152 | — \* | 152890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 14233 | 39215 |  | 53448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 12965 | 36156 |  | 49121 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 14795 | 8412 | 9132 | 32339 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** | 31 | 172 |  | 203 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments** |  | 100586 |  | 100586 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 167623 |  |  | 167623 |
| **Total** | $**1296263** | $**1781813** | $**9474** | $**3087550** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $159 | $— | $— | $159 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on open forward currency contracts |  | — \* |  | — \* |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared credit default swaps |  | 2 |  | 2 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (66) |  |  | (66) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on open forward currency contracts |  | (50) |  | (50) |
| **Total** | $**93** | $**(48)** | $**—** | $**45** |

---

---

| | |
|:---|:---|
| \* | Amount less than one thousand. |
| <sup>†</sup> | Futures contracts, forward currency contracts and credit default swaps are not included in the fund's investment portfolio. |

---

**Washington Mutual Investors Fund**

As of December 31, 2022, all of the fund's investment securities were classified as Level 1.

296 American Funds Insurance Series

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | $164931 | $106647 | $— | $271578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 186991 | 74725 |  | 261716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 110259 | 113094 | — \* | 223353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 103918 | 113308 |  | 217226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 81430 | 73857 |  | 155287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 63755 | 66879 |  | 130634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 69657 | 51505 |  | 121162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 73762 | 34823 | — \* | 108585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 53364 | 32366 | — \* | 85730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 25266 | 24999 |  | 50265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 12033 | 5443 |  | 17476 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 263 | 2512 |  | 2775 |
| &nbsp;&nbsp;&nbsp;**Convertible bonds & notes** |  | 940 |  | 940 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments** |  | 6016 |  | 6016 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 6525 | 69828 |  | 76353 |
| **Total** | $**952154** | $**776942** | $**—** **\*** | $**1729096** |
| \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. | \* Amount less than one thousand. |
| **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** |
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | $6365641 | $293106 | $— | $6658747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 4414100 | 259779 |  | 4673879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 3850991 | 534723 |  | 4385714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 2896787 |  |  | 2896787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 2446056 | 132438 |  | 2578494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 2480083 |  |  | 2480083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 1457094 | 454816 |  | 1911910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 1578057 |  |  | 1578057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 1262331 | 69549 |  | 1331880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 1068166 |  |  | 1068166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 608248 |  |  | 608248 |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** | 274424 |  |  | 274424 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments** |  | 5916 |  | 5916 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 2789014 |  |  | 2789014 |
| **Total** | $**31490992** | $**1750327** | $**—** | $**33241319** |

---

American Funds Insurance Series 297

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| **International Growth and Income Fund**<br>| **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | $6118 | $43633 | $— \* | $49751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 4511 | 31485 |  | 35996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 2509 | 32958 |  | 35467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 7470 | 27016 |  | 34486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 1668 | 30886 |  | 32554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 1316 | 29812 |  | 31128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 8708 | 14672 | — \* | 23380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 9657 | 7677 | — \* | 17334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 1895 | 15137 | — \* | 17032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 1142 | 8106 |  | 9248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate |  | 4820 |  | 4820 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 1207 | 693 |  | 1900 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 6358 |  |  | 6358 |
| **Total** | $**52559** | $**246895** | $**—** \* | $**299454** |
|  | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on open forward currency contracts | $— | $5 | $— | $5 |

---

---

| | |
|:---|:---|
| \* | Amount less than one thousand. |
| <sup>†</sup> | Forward currency contracts are not included in the fund's investment portfolio. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| **Capital Income Builder**<br>| **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | $85911 | $70932 | $— \* | $156843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 64498 | 50174 |  | 114672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 85845 | 22042 |  | 107887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 47860 | 35750 |  | 83610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 64487 | 14336 |  | 78823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 39280 | 31786 |  | 71066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 52011 | 16387 | — \* | 68398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 56684 | 11518 |  | 68202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 20977 | 12204 |  | 33181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 16058 | 16961 |  | 33019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 17155 | 15258 |  | 32413 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  | 545 |  | 545 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** | 6 |  |  | 6 |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** | 5019 |  |  | 5019 |
| &nbsp;&nbsp;&nbsp;**Investment funds** | 28059 |  |  | 28059 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 107548 |  | 107548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations |  | 69718 | 89 | 69807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds, notes & loans |  | 19621 |  | 19621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed obligations |  | 9532 |  | 9532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds & notes of governments & government agencies outside the U.S. |  | 743 |  | 743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipals |  | 228 |  | 228 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 83850 |  |  | 83850 |
| **Total** | $**667700** | $**505283** | $**89** | $**1173072** |

---

Refer to the end of the tables for footnotes.

298 American Funds Insurance Series

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $60 | $— | $— | $60 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared interest rate swaps |  | 1900 |  | 1900 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (139) |  |  | (139) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared interest rate swaps |  | (380) |  | (380) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared credit default swaps |  | (47) |  | (47) |
| **Total** | $**(79)** | $**1473** | $**—** | $**1394** |

---

---

| | |
|:---|:---|
| \* | Amount less than one thousand. |
| <sup>†</sup> | Futures contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio. |

---

**Asset Allocation Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | $3207943 | $95928 | $19703 | $3323574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 2162881 | 216574 |  | 2379455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 2206657 | 75213 | 1899 | 2283769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 2171644 | 29717 |  | 2201361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 1318784 | 316097 |  | 1634881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 1531415 | 12088 |  | 1543503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 1171249 |  |  | 1171249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 1020328 |  | 550 | 1020878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 856654 |  |  | 856654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 236814 |  |  | 236814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 158713 |  |  | 158713 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  |  | 189 | 189 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** |  |  | — \* | — \* |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** |  |  | 63388 | 63388 |
| &nbsp;&nbsp;&nbsp;**Investment funds** | 1367122 |  |  | 1367122 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations |  | 1878858 |  | 1878858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 1617110 |  | 1617110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds, notes & loans |  | 1385625 | 10517 | 1396142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed obligations |  | 411624 | 5689 | 417313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds & notes of governments & government agencies outside the U.S. |  | 40766 |  | 40766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipals |  | 35724 |  | 35724 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 1690923 |  |  | 1690923 |
| **Total** | $**19101127** | $**6115324** | $**101935** | $**25318386** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** | **Other investments<sup>†</sup>** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $2319 | $— | $— | $2319 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (3485) |  |  | (3485) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared credit default swaps |  | (1623) |  | (1623) |
| **Total** | $**(1166)** | $**(1623)** | $**—** | $**(2789)** |

---

---

| | |
|:---|:---|
| \* | Amount less than one thousand. |
| <sup>†</sup> | Futures contracts and credit default swaps are not included in the fund's investment portfolio. |

---

American Funds Insurance Series 299

**American Funds Global Balanced Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Common stocks:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | $16259 | $22868 | $— | $39127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 19116 | 11649 |  | 30765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health care | 18540 | 10087 |  | 28627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information technology | 21174 | 2609 |  | 23783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer staples | 4299 | 15340 |  | 19639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 9788 | 7879 |  | 17667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 6808 | 9121 |  | 15929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 10010 | 4766 |  | 14776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication services | 8684 | 2866 |  | 11550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer discretionary | 4150 | 4214 |  | 8364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate | 2591 | 2616 |  | 5207 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** | 911 | 558 |  | 1469 |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** | 1235 |  |  | 1235 |
| &nbsp;&nbsp;&nbsp;**Investment funds** | 5532 |  |  | 5532 |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds & notes of governments & government agencies outside the U.S. |  | 48706 | 77 | 48783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 44273 |  | 44273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds, notes & loans |  | 20755 |  | 20755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations |  | 9498 |  | 9498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed obligations |  | 2304 |  | 2304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipals |  | 129 |  | 129 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 3928 | 12021 |  | 15949 |
| **Total** | $**133025** | $**232259** | $**77** | $**365361** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| <br>&nbsp;&nbsp;&nbsp; | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $58 | $— | $— | $58 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on open forward currency contracts |  | 686 |  | 686 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared interest rate swaps |  | 8 |  | 8 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared credit default swaps |  | 7 |  | 7 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (431) |  |  | (431) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on open forward currency contracts |  | (150) |  | (150) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared interest rate swaps |  | (1017) |  | (1017) |
| **Total** | $**(373)** | $**(466)** | $**—** | $**(839)** |

---

\* Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

**The Bond Fund of America**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| <br>&nbsp;&nbsp;&nbsp; | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds, notes & loans | $— | $3535583 | $— | $3535583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 2803177 |  | 2803177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations |  | 2637080 | 1486 | 2638566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed obligations |  | 452311 | 9397 | 461708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipals |  | 165594 |  | 165594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds & notes of governments & government agencies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;outside the U.S. |  | 131985 |  | 131985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal agency bonds & notes |  | 11160 |  | 11160 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 1425720 |  |  | 1425720 |
| **Total** | $**1425720** | $**9736890** | $**10883** | $**11173493** |

---

300 American Funds Insurance Series

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $6241 | $— | $— | $6241 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on open forward currency contracts |  | 3821 |  | 3821 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared interest rate swaps |  | 15705 |  | 15705 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (13194) |  |  | (13194) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on open forward currency contracts |  | (174) |  | (174) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared interest rate swaps |  | (6629) |  | (6629) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared credit default swaps |  | (7009) |  | (7009) |
| **Total** | $**(6953)** | $**5714** | $**—** | $**(1239)** |

---

\* Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

**Capital World Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Euros | $— | $293295 | $— | $293295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japanese yen |  | 111151 |  | 111151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;British pounds |  | 61782 |  | 61782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chinese yuan renminbi |  | 42096 |  | 42096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian dollars |  | 34184 |  | 34184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexican pesos |  | 31627 |  | 31627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australian dollars |  | 24212 |  | 24212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danish kroner |  | 23962 |  | 23962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korean won |  | 7729 |  | 7729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombian pesos |  | 7144 |  | 7144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chilean pesos |  | 6074 |  | 6074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesian rupiah |  | 5454 |  | 5454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russian rubles |  | 1371 | 1984 | 3355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazilian reais |  | 3129 |  | 3129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South African rand |  | 3001 |  | 3001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominican pesos |  | 2271 |  | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysian ringgits |  | 2222 |  | 2222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ukrainian hryvnia |  |  | 1592 | 1592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indian rupees |  | 1102 |  | 1102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Romanian leu |  | 1038 |  | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polish zloty |  | 879 |  | 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norwegian kroner |  | 619 |  | 619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. dollars |  | 669670 | 289 | 669959 |
| &nbsp;&nbsp;&nbsp;**Investment funds** | 48676 |  |  | 48676 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  |  | 20 | 20 |
| &nbsp;&nbsp;&nbsp;**Common stocks** |  |  | 134 | 134 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 167 | 100470 |  | 100637 |
| **Total** | $**48843** | $**1434482** | $**4019** | $**1487344** |

---

American Funds Insurance Series 301

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| <br>&nbsp;&nbsp;&nbsp; | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $672 | $— | $— | $672 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on open forward currency contracts |  | 7008 |  | 7008 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared credit default swaps |  | 486 |  | 486 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (4659) |  |  | (4659) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on open forward currency contracts |  | (2455) |  | (2455) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared interest rate swaps |  | (10966) |  | (10966) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared credit default swaps |  | (19) |  | (19) |
| **Total** | $**(3987)** | $**(5946)** | $**—** | $**(9933)** |

---

\* Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

**American High-Income Trust**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds, notes & loans | $— | $731844 | $4198 | $736042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations |  |  | 630 | 630 |
| &nbsp;&nbsp;&nbsp;**Convertible bonds & notes** |  | 399 | 79 | 478 |
| &nbsp;&nbsp;&nbsp;**Convertible stocks** | 483 | 472 |  | 955 |
| &nbsp;&nbsp;&nbsp;**Common stocks** | 8540 | 1520 | 26932 | 36992 |
| &nbsp;&nbsp;&nbsp;**Preferred securities** |  |  | 2629 | 2629 |
| &nbsp;&nbsp;&nbsp;**Rights & warrants** |  | 826 | 12 | 838 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** | 38565 |  |  | 38565 |
| **Total** | $**47588** | $**735061** | $**34480** | $**817129** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments<sup>1</sup>** | **Other investments<sup>1</sup>** | **Other investments<sup>1</sup>** | **Other investments<sup>1</sup>** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $10 | $— | $— | $10 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (98) |  |  | (98) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared credit default swaps |  | (154) |  | (154) |
| **Total** | $**(88)** | $**(154)** | $**—** | $**(242)** |

---

<sup>1</sup> Futures contracts and credit default swaps are not included in the investment portfolio.

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the year ended December 31, 2022 (dollars in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Beginning<br> value at<br> 1/1/2022** | **Transfers**<br> **into**<br> **Level 3<sup>2</sup>** | **Purchases** | **Sales** | **Net**<br> **realized**<br> **gain<sup>3</sup>** | **Unrealized**<br> **depreciation<sup>3</sup>** | **Transfers**<br> **out of**<br> **Level 3<sup>2</sup>** | **Ending<br> value at<br> 12/31/2022** |
| Investment securities | $40411 | $3989 | $4058 | $(11715) | $883 | $(3084) | $(62) | $34480 |
| Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | Net unrealized depreciation during the period on Level 3 investment securities held at December 31, 2022 | $(1467) |

---

<sup>2</sup> Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.

<sup>3</sup> Net realized gain and unrealized depreciation are included in the related amounts on investments in the fund's statement of operations.

302 American Funds Insurance Series

**Unobservable inputs** — Valuation of the fund's Level 3 securities is based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The following table provides additional information used by the fund's investment adviser to fair value the fund's Level 3 securities (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Value at**<br> **12/31/2022** | &nbsp;&nbsp;**Valuation**<br> **techniques** | &nbsp;&nbsp;**Unobservable**<br> **inputs** | **Range**<br> **(if applicable)** | **Weighted**<br> **average\*** | **Impact to**<br> **valuation from**<br> **an increase in**<br> **input<sup>†</sup>** |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Expected proceeds | N/A | N/A | N/A |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;EV/EBITDA multiple | 7.5x | 7.5x | Increase |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;DLOM | 15% | 15% | Decrease |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Vendor price | N/A | N/A | N/A |
| Bonds, notes & other debt instruments | $4828 |  |  |  |  |  |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Yield analysis | &nbsp;&nbsp;Yield | 15.7% - 16.0% | 15.8% | Decrease |
| Bonds, notes & other debt instruments | $4828 |  | &nbsp;&nbsp;Transaction price | N/A | N/A | N/A |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Transaction | &nbsp;&nbsp;Net adjustment (decrease) based on movement of market comparables |  |  |  |
| Bonds, notes & other debt instruments | $4828 | &nbsp;&nbsp;Transaction | &nbsp;&nbsp;Net adjustment (decrease) based on movement of market comparables | 10% | 10% |  |
| Convertible bonds & notes | 79 | &nbsp;&nbsp;Transaction | &nbsp;&nbsp;Transaction price | N/A | N/A | N/A |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Expected proceeds | N/A | N/A | N/A |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;EV/EBITDA multiple | 7.5x | 7.5x | Increase |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;DLOM | 15% | 15% | Decrease |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Vendor price | N/A | N/A | N/A |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Risk discount | 90% | 90% | Decrease |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Net adjustment (decrease) based on movement of market comparables |  |  |  |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Net adjustment (decrease) based on movement of market comparables | 20% | 20% | Decrease |
| Common stocks | 26932 | &nbsp;&nbsp;Estimated recovery value | &nbsp;&nbsp;Net adjustment (decrease) based on movement of market comparables |  |  |  |
| Common stocks | 26932 |  | &nbsp;&nbsp;EV/EBITDA multiple | 3.7x | 3.7x | Increase |
| Common stocks | 26932 | &nbsp;&nbsp;Market comparable companies | &nbsp;&nbsp;EV/EBITDA less CapEx multiple | 10.2x | 10.2x | Increase |
| Common stocks | 26932 | &nbsp;&nbsp;Market comparable companies | &nbsp;&nbsp;DLOM | 17% | 17% | Decrease |
| Common stocks | 26932 | &nbsp;&nbsp;Transaction | &nbsp;&nbsp;Transaction price | N/A | N/A | N/A |
| Common stocks | 26932 | &nbsp;&nbsp;Transaction | &nbsp;&nbsp;Discount for lack of certainty | 5% | 5% | Decrease |
| Common stocks | 26932 | &nbsp;&nbsp;Indicative market quotation | &nbsp;&nbsp;Broker quote | N/A | N/A | N/A |
| Preferred securities | 2629 | &nbsp;&nbsp;Indicative market quotation | &nbsp;&nbsp;Broker quote | N/A | N/A | N/A |
| Preferred securities | 2629 | &nbsp;&nbsp;Market comparable companies | &nbsp;&nbsp;EV/EBITDA multiple | 3.5x | 3.5x | Increase |
| Preferred securities | 2629 | &nbsp;&nbsp;Market comparable companies | &nbsp;&nbsp;DLOM | 30% | 30% | Decrease |
| Rights & warrants | 12 | &nbsp;&nbsp;Indicative market quotation | &nbsp;&nbsp;Broker quote | N/A | N/A | N/A |
| Total | $34480 |  |  |  |  |  |

---

---

| | |
|:---|:---|
| \* | Weighted average is by relative fair value. |
| <sup>†</sup> | This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |

---

**Key to abbreviations and symbols**

CapEx = Capital expenditures

DLOM = Discount for lack of marketability

EBITDA = Earnings before income taxes, depreciation and amortization

EV = Enterprise value

American Funds Insurance Series 303

**American Funds Mortgage Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations | $— | $71406 | $— | $71406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 10720 |  | 10720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset-backed obligations |  | 2388 |  | 2388 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** |  | 22857 |  | 22857 |
| **Total** | $**—** | $**107371** | $**—** | $**107371** |
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $49 | $— | $— | $49 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared interest rate swaps |  | 790 |  | 790 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (124) |  |  | (124) |
| **Total** | $**(75)** | $**790** | $**—** | $**715** |

---

<br> \* Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

**Ultra-Short Bond Fund**

As of December 31, 2022, all of the fund's investment securities were classified as Level 2.

**U.S. Government Securities Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Bonds, notes & other debt instruments:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed obligations | $— | $723593 | $— | $723593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury bonds & notes |  | 597122 |  | 597122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal agency bonds & notes |  | 79196 |  | 79196 |
| &nbsp;&nbsp;&nbsp;**Short-term securities** |  | 318094 |  | 318094 |
| **Total** | $**—** | $**1718005** | $**—** | $**1718005** |
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on futures contracts | $14523 | $— | $— | $14523 |
| &nbsp;&nbsp;&nbsp;Unrealized appreciation on centrally cleared interest rate swaps |  | 30519 |  | 30519 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on futures contracts | (17699) |  |  | (17699) |
| &nbsp;&nbsp;&nbsp;Unrealized depreciation on centrally cleared interest rate swaps |  | (21723) |  | (21723) |
| **Total** | $**(3176)** | $**8796** | $**—** | $**5620** |

---

<br> \* Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

**Managed Risk Growth Fund**

As of December 31, 2022, all of the fund's investments were classified as Level 1.

**Managed Risk International Fund**

As of December 31, 2022, all of the fund's investments were classified as Level 1.

**Managed Risk Washington Mutual Investors Fund**

As of December 31, 2022, all of the fund's investments were classified as Level 1.

304 American Funds Insurance Series

**Managed Risk Growth-Income Fund**

As of December 31, 2022, all of the fund's investments were classified as Level 1.

**Managed Risk Asset Allocation Fund**

As of December 31, 2022, all of the fund's investments were classified as Level 1.

**4. Risk factors**

Investing in the funds may involve certain risks including, but not limited to, those described below.

**Market conditions** — The prices of, and the income generated by, the common stocks, bonds and other securities held by a fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations. These risks may be heightened in the case of smaller capitalization stocks.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not a fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of a fund's investments may be negatively affected by developments in other countries and regions.

**Issuer risks** — The prices of, and the income generated by, securities held by a fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.

**Investing in income-oriented stocks** — The value of a fund's securities and income provided by a fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.

**Investing in growth-oriented stocks** — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments. These risks may be even greater in the case of smaller capitalization stocks.

**Investing in small companies** — Investing in smaller companies may pose additional risks. For example, it is often more difficult to value or dispose of small company stocks and more difficult to obtain information about smaller companies than about larger companies. Furthermore, smaller companies often have limited product lines, operating histories, markets and/or financial resources, may be dependent on one or a few key persons for management, and can be more susceptible to losses. Moreover, the prices of their stocks may be more volatile than stocks of larger, more established companies, particularly during times of market turmoil.

**Investing outside the U.S.** — Securities of issuers domiciled outside the U.S., or with significant operations or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.

American Funds Insurance Series 305

**Investing in developing countries** — Investing in countries with developing economies and/or markets may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in developing countries may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in developed countries are subject. A fund's rights with respect to its investments in developing countries, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating a fund's net asset value. Additionally, developing countries are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Investing in emerging markets** — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. A fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating a fund's net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Investing in debt instruments** — The prices of, and the income generated by, bonds and other debt securities held by a fund may be affected by factors such as the interest rates, maturities and credit quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from a fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in a fund failing to recoup the full amount of its initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of a fund's securities could cause the value of a fund's shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which a fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund's investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

306 American Funds Insurance Series

**Investing in lower rated debt instruments** — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer's creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in junk bonds.

**Investing in derivatives** — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may cause a fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for a fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. A fund's use of derivatives may result in losses to the fund, and investing in derivatives may reduce a fund's returns and increase a fund's price volatility. A fund's counterparty to a derivative transaction (including, if applicable, the fund's clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

**Currency** — The prices of, and the income generated by, many debt securities held by a fund may also be affected by changes in relative currency values. If the U.S. dollar appreciates against foreign currencies, the value in U.S. dollars of a fund's securities denominated in such currencies would generally fall and vice versa.

**Investing in mortgage-related and other asset-backed securities** — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and a fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in a fund having to reinvest the proceeds in lower yielding securities, effectively reducing a fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing a fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

**Investing in future delivery contracts** — A fund may enter into contracts, such as to-be-announced contracts and mortgage dollar rolls, that involve a fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase a fund's market exposure, and the market price of the securities that the fund contracts to repurchase could drop below their purchase price. While a fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the fund may be reduced by engaging in such transactions. In addition, these transactions increase the turnover rate of a fund.

**Investing in inflation-linked bonds** — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates — i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security's inflation measure.

Investing in inflation-linked bonds may also reduce a fund's distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to a fund.

American Funds Insurance Series 307

**Investing in securities backed by the U.S. government** — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government. U.S. government securities are subject to market risk, interest rate risk and credit risk.

**Investing in repurchase agreements** — Upon entering into a repurchase agreement, a fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund's cost with interest. The security purchased by the fund constitutes collateral for the seller's repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.

**Interest rate risk** — The values and liquidity of the securities held by a fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. A fund may invest in variable and floating rate securities. When a fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of a fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, a fund may not be able to maintain a positive yield and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

**Credit and liquidity support** — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by a fund could cause the values of these securities to decline.

**Asset allocation** — A fund's percentage allocation to equity securities, debt securities and money market instruments could cause the fund to underperform relative to relevant benchmarks and other funds with similar investment objectives.

**Liquidity risk** — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs, or to try to limit losses, or may be forced to sell at a loss.

**Management** — The investment adviser to the funds actively manages the funds' investments. Consequently, the funds are subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

Investing in the managed risk funds may involve additional risks including, but not limited to, those described below.

**Fund structure** — The managed risk funds invest in underlying funds and incur expenses related to those underlying funds. In addition, investors in the managed risk funds will incur fees to pay for certain expenses related to the operations of the managed risk funds. An investor holding the underlying fund directly would incur lower overall expenses but would not receive the benefit of the managed risk strategy. Additionally, in accordance with an exemption under the Investment Company Act of 1940, as amended, the investment adviser considers only proprietary funds when selecting underlying investment options and allocations. This means that the fund's investment adviser did not, nor does it expect to, consider any unaffiliated funds as underlying investment options for the fund. This strategy could raise certain conflicts of interest when choosing underlying investments for the fund, including the selection of funds that result in greater compensation to the adviser or funds with relatively lower historical investment results. The investment adviser has policies and procedures designed to mitigate material conflicts of interest that may arise in connection with its management of the fund.

308 American Funds Insurance Series

**Management** — The managed risk funds are subject to the risk that the managed risk strategy or the methods employed by the subadviser in implementing the managed risk strategy may not produce the desired results. This could cause the managed risk funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

**Underlying fund risks** — Because the managed risk funds' investments consist of investments in underlying funds, the managed risk funds' risks are directly related to the risks of the respective underlying fund in which each managed risk fund invests. For this reason, it is important to understand the risks associated with investing both in the managed risk fund and in each of the underlying funds.

**Investing in options and futures contracts** — In addition to the risks generally associated with investing in derivative instruments, options and futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and, in the case of futures, futures commission merchants with which a fund transacts. While both options and futures contracts are generally liquid instruments, under certain market conditions, options and futures may be deemed to be illiquid. For example, a fund may be temporarily prohibited from closing out its position in an options or futures contract if intraday price change limits or limits on trading volume imposed by the applicable exchange are triggered. If a fund is unable to close out a position on an options or futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the position in question. The ability of a fund to successfully utilize options and futures contracts may depend in part upon the ability of the fund's investment adviser or subadviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the options and futures in which the fund invests. If the investment adviser or subadviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the options and futures in which it invests, a fund could suffer losses. Whereas the risk of loss on a put option purchased by the fund is limited to the initial cost of the option, the amount of a potential loss on a futures contract could greatly exceed the relatively small initial amount invested in entering the futures position.

**Hedging** — There may be imperfect or even negative correlation between the prices of the options and futures contracts in which a fund invests and the prices of the underlying securities or indexes which the fund seeks to hedge. For example, options and futures contracts may not provide an effective hedge because changes in options and futures contract prices may not track those of the underlying securities or indexes they are intended to hedge. In addition, there are significant differences between the securities market, on the one hand, and the options and futures markets, on the other, that could result in an imperfect correlation between the markets, causing a given hedge not to achieve its objectives. The degree of imperfection of correlation depends on circumstances such as variations in speculative market demand for options and futures, including technical influences in options and futures trading, and differences between the financial instruments being hedged and the instruments underlying the standard contracts available for trading. A decision as to whether, when and how to hedge involves the exercise of skill and judgment, and even a well-conceived hedge may be unsuccessful to some degree because of market behavior or unexpected interest rate trends. In addition, the fund's investment in exchange-traded options and futures and their resulting costs could limit the fund's gains in rising markets relative to those of the underlying funds, or to those of unhedged funds in general.

**Short positions** — The fund may suffer losses from short positions in futures contracts. Losses from short positions in futures contracts occur when the underlying index increases in value. As the underlying index increases in value, the holder of the short position in the corresponding futures contract is required to pay the difference in value of the futures contract resulting from the increase in the index on a daily basis. Losses from a short position in an index futures contract could potentially be very large if the value of the underlying index rises dramatically in a short period of time.

**Nondiversification risk** — As nondiversified funds, the managed risk funds have the ability to invest a larger percentage of their assets in the securities of a smaller number of issuers than diversified funds. To the extent that a managed risk fund invests a larger percentage of its assets in securities of one or more issuers, poor performance by these securities could have a greater adverse impact on the fund's investment results.

American Funds Insurance Series 309

**5. Certain investment techniques**

**Securities lending** — Some of the funds have entered into securities lending transactions in which the funds earn income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

Securities lending transactions are entered into by the fund under the securities lending agreement with the lending agent. The lending agent facilitates the exchange of securities between the lender and the borrower, generally provides protection from borrower default, marks to market the value of collateral daily, secures additional collateral from the borrower if it falls below preset terms, and may reinvest the collateral on behalf of the fund according to agreed parameters. The lending agent has indemnified the fund against losses resulting from borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if the borrower fails to return the securities, collateral investments decline in value or the lending agent fails to perform.

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund's investment portfolio. The same amount is recorded as a liability in the fund's statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote on proposals affecting them. The borrower is obligated to return the loaned security at the conclusion of the loan or, during the pendency of the loan, on demand from the fund.

The following table presents the value of the securities on loan, the type and value of collateral received and the value of the investment securities purchased, if any, from the cash collateral received by each fund (dollars in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
| | | **Collateral received** | **Collateral received** | |
| <br>**Funds** |<br>**Value of**<br>**investment**<br>**securities**<br>**on loan** |<br><br>**Cash** |<br>**U.S. government**<br>**securities** |<br>**Value of**<br>**investment**<br>**securities**<br>**purchased** |
| Global Small Capitalization Fund | $59781 | $58725 | $4519 | $52853 |
| Growth Fund | 54504 | 55867 |  | 50280 |
| International Fund | 1530 | 1607 |  | 1446 |
| New World Fund | 311 | 327 |  | 295 |
| Washington Mutual Investors Fund | 12432 | 12908 |  | 11618 |
| Capital World Growth and Income Fund | 6155 | 6480 |  | 5832 |
| Growth-Income Fund | 240456 | 248693 |  | 223824 |
| International Growth and Income Fund | 1435 | 962 | 585 | 866 |
| Capital Income Builder | 6251 | 6553 |  | 5898 |
| Asset Allocation Fund | 67688 | 56897 | 17890 | 51207 |

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Investment securities purchased from cash collateral are disclosed in the investment portfolio as short-term securities. Securities received as collateral, if any, are not recognized as fund assets. The contractual maturity of collateral received under the securities lending agreement is classified as overnight and continuous.

**Index-linked bonds** — Some of the funds have invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund's statement of operations.

**Mortgage dollar rolls** — Some of the funds have entered into mortgage dollar roll transactions in which the fund sells a mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions, which may increase the funds' portfolio turnover rates.

310 American Funds Insurance Series

**Loan transactions** — Some of the funds have entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder's portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan's interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.

**Short-term securities** — The managed risk funds hold shares of State Street Institutional U.S. Government Money Market Fund, a cash management vehicle offered and managed by State Street Bank and Trust Company.

**Unfunded commitments** — Asset Allocation Fund, Capital World Bond Fund and American High-Income Trust have participated in transactions that involve unfunded commitments, which may obligate each fund to purchase new or additional bonds and/or purchase additional shares of the applicable issuer if certain contingencies are met. As of December 31, 2022, the maximum exposure from these unfunded commitments for Asset Allocation Fund, Capital World Bond Fund and American High-Income Trust was $5,000,000, $150,000 and $4,155,000, respectively, which would represent 0.02%, 0.01% and 0.50%, respectively, of the net assets of each fund should such commitments become due. Unrealized appreciation on these unfunded commitments for Capital World Bond Fund and American High-Income Trust of $12,000 and $572,000, respectively, is disclosed as unrealized appreciation on unfunded commitments in each fund's statement of assets and liabilities, and unrealized depreciation on these unfunded commitments for Asset Allocation Fund, Capital World Bond Fund and American High-Income Trust of $9,000, $1,000 and $3,000, respectively, is disclosed as unrealized depreciation on unfunded commitments in each fund's statement of assets and liabilities. Both are included in net unrealized (depreciation) appreciation on investments in unaffiliated issuers in each fund's statement of operations.

**Options contracts** — The managed risk funds have entered into options contracts, which give the holder of the option, in return for a premium payment, the right to buy from (in the case of a call) or sell to (in the case of a put) the writer of the option, the security underlying the option (or the cash value of the index underlying the option) at a specified price. As part of their managed risk strategy, the funds will at times purchase put options on equity indexes in standardized contracts traded on foreign or domestic securities exchanges, boards of trade, or similar entities. By purchasing a put option on an equity index, the funds obtain the right (but not the obligation) to sell the cash value of the index underlying the option at a specified exercise price, and in return for this right, the funds pay the current market price, or the option premium, for the option.

The funds may terminate their position in a put option by allowing the option to expire or by exercising the option. If the option is allowed to expire, the funds will lose the entire premium. If the option is exercised, the funds complete the sale of the underlying instrument (or delivers the cash value of the index underlying the option) at the exercise price. The funds may also terminate a put option position by entering into opposing close-out transactions in advance of the option expiration date.

Premiums paid on options purchased, as well as the daily fluctuation in market value, are included in investment securities from unaffiliated issuers in each fund's statement of assets and liabilities. Realized gains or losses are recorded at the time the option contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from options contracts are recorded in investments in unaffiliated issuers in each fund's statement of operations.

**Futures contracts** — Some of the funds have entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. For the managed risk funds, futures contracts are used to strategically manage portfolio volatility and downside equity risk.

Upon entering into futures contracts, and to maintain the fund's open positions in futures contracts, the fund is required to deposit with a futures broker, known as a futures commission merchant ("FCM"), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.

On a daily basis, each fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in each fund's statement of assets and liabilities. Futures contracts may involve a risk of loss in excess of the variation margin shown on each fund's statement of assets and liabilities. Each fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in each fund's statement of operations.

American Funds Insurance Series 311

**Forward currency contracts** — Some of the funds have entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The series' investment adviser uses forward currency contracts to manage the fund's exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.

On a daily basis, the series' investment adviser values forward currency contracts based on the applicable exchange rates and records unrealized appreciation or depreciation for open forward currency contracts in each fund's statement of assets and liabilities. Realized gains or losses are recorded at the time the forward contract is closed or offset by another contract with the same broker for the same settlement date and currency. Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in each fund's statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in each fund's statement of operations.

**Swap contracts** — Some of the funds have entered into swap agreements, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap transaction, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return. Swap agreements can be traded on a swap execution facility (SEF) and cleared through a central clearinghouse (cleared), traded over-the-counter (OTC) and cleared, or traded bilaterally and not cleared. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the funds enter into bilaterally negotiated swap transactions, the funds will enter into swap agreements only with counterparties that meet certain credit standards and subject to agreed collateralized procedures. The term of a swap can be days, months or years and certain swaps may be less liquid than others.

Upon entering into a centrally cleared swap contract, the funds are required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.

On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the funds' statement of assets and liabilities for centrally cleared swaps and as unrealized appreciation or depreciation in the funds' statement of assets and liabilities for bilateral swaps. For centrally cleared swaps, the fund also pays or receives a variation margin based on the increase or decrease in the value of the swaps, including accrued interest as applicable, and records variation margin in the statement of assets and liabilities. The funds record realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from swaps are recorded in the funds' statement of operations.

Swap agreements can take different forms. Some of the funds have entered into the following types of swap agreements:

**Interest rate swaps** — Some of the funds have entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the funds or a portion of the funds' portfolio. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark. In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the funds' current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party.

312 American Funds Insurance Series

**Credit default swap indices** — Some of the funds have entered into centrally cleared credit default swap indices, including CDX and iTraxx indices (collectively referred to as "CDSIs"), in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party (the protection buyer) is obligated to pay the other party (the protection seller) a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits.

The funds may enter into a CDSI transaction as either protection buyer or protection seller. If the funds are protection buyers, they would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the funds, as protection buyers, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As protection sellers, the funds would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the funds, coupled with the periodic payments previously received by the funds, may be less than the full notional value that the funds, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the funds. Furthermore, as protection sellers, the funds would effectively add leverage to their portfolio because it would have investment exposure to the notional amount of the swap transaction.

The following table presents the average month-end notional amounts of options contracts purchased, futures contracts, forward currency contracts, interest rate swaps and credit default swaps while held for each fund (dollars in thousands):

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Options**<br>**contracts**<br>**purchased** | <br>**Futures**<br>**contracts** | **Forward**<br>**currency**<br>**contracts** | **Interest**<br>**rate**<br>**swaps** | **Credit**<br>**default**<br>**swaps** |
| New World Fund | Not applicable | $25541 | $4534 | Not applicable | $2230 |
| International Growth and Income Fund | Not applicable | Not applicable | 785 | Not applicable | Not applicable |
| Capital Income Builder | Not applicable | 77835 | 97 \* | $24014 | 5645 |
| Asset Allocation Fund | Not applicable | 1604889 | Not applicable | Not applicable | 184454 |
| Global Balanced Fund | Not applicable | 14924 | 29040 | 35865 | 4634 |
| The Bond Fund of America | Not applicable | 3326801 | 90045 | 516484 | 199116 |
| Capital World Bond Fund | Not applicable | 297755 | 449743 | 384936 | 92966 |
| American High-Income Trust | Not applicable | 9021 | Not applicable | Not applicable | 10272 |
| American Funds Mortgage Fund | Not applicable | 31977 | Not applicable | 4025 | Not applicable |
| U.S. Government Securities Fund | Not applicable | 2339082 | Not applicable | 1287321 | Not applicable |
| Managed Risk Growth Fund | $269349 | 170792 | Not applicable | Not applicable | Not applicable |
| Managed Risk International Fund | 63717 | 11008 | Not applicable | Not applicable | Not applicable |
| Managed Risk Washington Mutual Investors Fund | 242721 | 39716 | Not applicable | Not applicable | Not applicable |
| Managed Risk Growth-Income Fund | 2353130 | 267681 | Not applicable | Not applicable | Not applicable |
| Managed Risk Asset Allocation Fund | 418987 | 290562 | Not applicable | Not applicable | Not applicable |

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\* No contracts were held at the end of the reporting period; amount represents the average month-end notional amount of contracts while they were held.

<br> American Funds Insurance Series 313

The following tables identify the location and fair value amounts on each fund's statement of assets and liabilities and/or the effect on each fund's statement of operations resulting from each fund's use of options, futures contracts, forward currency contracts, interest rate swaps and/or credit default swaps as of, or for the year ended, December 31, 2022 (dollars in thousands):

**New World Fund**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $159 | Unrealized depreciation<sup>1</sup> | $66 |
| Forward currency | Currency | Unrealized appreciation on open forward currency contracts | —<sup>2</sup> | Unrealized depreciation on open forward currency contracts | 50 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> | 2 | Unrealized depreciation<sup>1</sup> |  |
|  |  |  | $161 |  | $116 |
|  |  | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $100 | Net unrealized appreciation on futures contracts | $129 |
| Forward currency | Currency | Net realized gain on forward currency contracts | 379 | Net unrealized depreciation on forward currency contracts | (30) |
| Swap | Credit | Net realized loss on swap contracts | (2) | Net unrealized appreciation on swap contracts | 2 |
|  |  |  | $477 |  | $101 |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Forward currency | Currency | Unrealized appreciation on open forward currency contracts | $5 | Unrealized depreciation on open forward currency contracts | $— |
|  |  | **Net realized loss** | **Net realized loss** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Forward currency | Currency | Net realized loss on forward currency contracts | $(54) | Net unrealized appreciation on forward currency contracts | $5 |

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Refer to the end of the tables for footnotes.

314 American Funds Insurance Series

**Capital Income Builder**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $60 | Unrealized depreciation<sup>1</sup> | $139 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> | 1900 | Unrealized depreciation<sup>1</sup> | 380 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 47 |
|  |  |  | $1960 |  | $566 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized (depreciation) appreciation** | **Net unrealized (depreciation) appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(7468) | Net unrealized depreciation on futures contracts | $(311) |
| Forward currency | Currency | Net realized gain on forward currency contracts | 7 | Net unrealized depreciation on forward currency contracts | (2) |
| Swap | Interest | Net realized gain on swap contracts | 1864 | Net unrealized appreciation on swap contracts | 69 |
| Swap | Credit | Net realized gain on swap contracts | 45 | Net unrealized depreciation on swap contracts | (33) |
|  |  |  | $(5552) |  | $(277) |
| **Asset Allocation Fund** | **Asset Allocation Fund** |  |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $2319 | Unrealized depreciation<sup>1</sup> | $3485 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 1623 |
|  |  |  | $2319 |  | $5108 |
|  |  | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $65437 | Net unrealized appreciation on futures contracts | $13070 |
| Swap | Credit | Net realized loss on swap contracts | (73) | Net unrealized depreciation on swap contracts | (1575) |
|  |  |  | $65364 |  | $11495 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 315

**American Funds Global Balanced Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $58 | Unrealized depreciation<sup>1</sup> | $431 |
| Forward currency | Currency | Unrealized appreciation on open forward currency contracts | 686 | Unrealized depreciation on open forward currency contracts | 150 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> | 8 | Unrealized depreciation<sup>1</sup> | 1017 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> | 7 | Unrealized depreciation<sup>1</sup> |  |
|  |  |  | $759 |  | $1598 |
|  |  | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized (depreciation) appreciation** | **Net unrealized (depreciation) appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $539 | Net unrealized depreciation on futures contracts | $(454) |
| Forward currency | Currency | Net realized loss on forward currency contracts | (1292) | Net unrealized appreciation on forward currency contracts | 725 |
| Swap | Interest | Net realized gain on swap contracts | 94 | Net unrealized depreciation on swap contracts | (772) |
| Swap | Credit | Net realized gain on swap contracts | 48 | Net unrealized appreciation on swap contracts | 9 |
|  |  |  | $(611) |  | $(492) |
| **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $6241 | Unrealized depreciation<sup>1</sup> | $13194 |
| Forward currency | Currency | Unrealized appreciation on open forward currency contracts | 3821 | Unrealized depreciation on open forward currency contracts | 174 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> | 15705 | Unrealized depreciation<sup>1</sup> | 6629 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 7009 |
|  |  |  | $25767 |  | $27006 |

---

Refer to the end of the tables for footnotes.

316 American Funds Insurance Series

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized (depreciation) appreciation** | **Net unrealized (depreciation) appreciation** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(136499) | Net unrealized depreciation on futures contracts | $(6976) |
| Forward currency | Currency | Net realized gain on forward currency contracts | 1795 | Net unrealized appreciation on forward currency contracts | 4002 |
| Swap | Interest | Net realized gain on swap contracts | 26807 | Net unrealized appreciation on swap contracts | 20061 |
| Swap | Credit | Net realized gain on swap contracts | 1436 | Net unrealized depreciation on swap contracts | (7083) |
|  |  |  | $(106461) |  | $10004 |
| **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $672 | Unrealized depreciation<sup>1</sup> | $4659 |
| Forward currency | Currency | Unrealized appreciation on open forward currency contracts | 7008 | Unrealized depreciation on open forward currency contracts | 2455 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 10966 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> | 486 | Unrealized depreciation<sup>1</sup> | 19 |
|  |  |  | $8166 |  | $18099 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized (depreciation) appreciation** | **Net unrealized (depreciation) appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(7447) | Net unrealized depreciation on futures contracts | $(3811) |
| Forward currency | Currency | Net realized loss on forward currency contracts | (18216) | Net unrealized appreciation on forward currency contracts | 4071 |
| Swap | Interest | Net realized loss on swap contracts | (2331) | Net unrealized depreciation on swap contracts | (7110) |
| Swap | Credit | Net realized gain on swap contracts | 1535 | Net unrealized appreciation on swap contracts | 549 |
|  |  |  | $(26459) |  | $(6301) |
| **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $10 | Unrealized depreciation<sup>1</sup> | $98 |
| Swap (centrally cleared) | Credit | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 154 |
|  |  |  | $10 |  | $252 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 317

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $1533 | Net unrealized appreciation on futures contracts | $123 |
| Swap | Credit | Net realized loss on swap contracts | (82) | Net unrealized depreciation on swap contracts | (161) |
|  |  |  | $1451 |  | $(38) |
| **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $49 | Unrealized depreciation<sup>1</sup> | $124 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> | 790 | Unrealized depreciation<sup>1</sup> |  |
|  |  |  | $839 |  | $124 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized depreciation** | **Net unrealized depreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(2688) | Net unrealized depreciation on futures contracts | $(79) |
| Swap | Interest | Net realized gain on swap contracts | 3147 | Net unrealized depreciation on swap contracts | (1585) |
|  |  |  | $459 |  | $(1664) |
| **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation<sup>1</sup> | $14523 | Unrealized depreciation<sup>1</sup> | $17699 |
| Swap (centrally cleared) | Interest | Unrealized appreciation<sup>1</sup> | 30519 | Unrealized depreciation<sup>1</sup> | 21723 |
|  |  |  | $45042 |  | $39422 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized depreciation** | **Net unrealized depreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(52928) | Net unrealized depreciation on futures contracts | $(3785) |
| Swap | Interest | Net realized gain on swap contracts | 20919 | Net unrealized depreciation on swap contracts | (7297) |
|  |  |  | $(32009) |  | $(11082) |

---

Refer to the end of the tables for footnotes.

318 American Funds Insurance Series

**Managed Risk Growth Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Options purchased | Equity | Investment securities from unaffiliated issuers<sup>3</sup> | $205 | Investment securities from unaffiliated issuers<sup>3</sup> | $— |
| Futures | Currency | Unrealized appreciation<sup>1</sup> | 47 | Unrealized depreciation<sup>1</sup> | 61 |
| Futures | Equity | Unrealized appreciation<sup>1</sup> | 7547 | Unrealized depreciation<sup>1</sup> | 1 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 47 |
|  |  |  | $7799 |  | $109 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Options purchased | Equity | Net realized loss on investments in unaffiliated issuers | $(3857) | Net unrealized appreciation on investments in unaffiliated issuers | $399 |
| Futures | Currency | Net realized gain on futures contracts | 463 | Net unrealized appreciation on futures contracts | 52 |
| Futures | Equity | Net realized gain on futures contracts | 12863 | Net unrealized appreciation on futures contracts | 8762 |
| Futures | Interest | Net realized loss on futures contracts | (11442) | Net unrealized appreciation on futures contracts | 10 |
|  |  |  | $(1973) |  | $9223 |
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Options purchased | Equity | Investment securities from unaffiliated issuers<sup>3</sup> | $169 | Investment securities from unaffiliated issuers<sup>3</sup> | $— |
| Futures | Currency | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> |  |
| Futures | Equity | Unrealized appreciation<sup>1</sup> | 1024 | Unrealized depreciation<sup>1</sup> |  |
| Futures | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 13 |
|  |  |  | $1193 |  | $13 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Options purchased | Equity | Net realized loss on investments in unaffiliated issuers | $(1108) | Net unrealized appreciation on investments in unaffiliated issuers | $327 |
| Futures | Currency | Net realized gain on futures contracts |  | Net unrealized appreciation on futures contracts |  |
| Futures | Equity | Net realized gain on futures contracts | 6799 | Net unrealized appreciation on futures contracts | 57 |
| Futures | Interest | Net realized loss on futures contracts | (2792) | Net unrealized appreciation on futures contracts | 1337 |
|  |  |  | $2899 |  | $1721 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 319

**Managed Risk Washington Mutual Investors Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Options purchased | Equity | Investment securities from unaffiliated issuers<sup>3</sup> | $274 | Investment securities from unaffiliated issuers<sup>3</sup> | $— |
| Futures | Currency | Unrealized appreciation<sup>1</sup> | 68 | Unrealized depreciation<sup>1</sup> | 5 |
| Futures | Equity | Unrealized appreciation<sup>1</sup> | 2625 | Unrealized depreciation<sup>1</sup> | 5 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 81 |
|  |  |  | $2967 |  | $91 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Options purchased | Equity | Net realized loss on investments in unaffiliated issuers | $(3288) | Net unrealized appreciation on investments in unaffiliated issuers | $51 |
| Futures | Currency | Net realized gain on futures contracts | 270 | Net unrealized appreciation on futures contracts | 68 |
| Futures | Equity | Net realized gain on futures contracts | 1194 | Net unrealized appreciation on futures contracts | 2690 |
| Futures | Interest | Net realized loss on futures contracts | (6007) | Net unrealized depreciation on futures contracts | (53) |
|  |  |  | $(7831) |  | $2756 |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |  |  |  |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Options purchased | Equity | Investment securities from unaffiliated issuers<sup>3</sup> | $2485 | Investment securities from unaffiliated issuers<sup>3</sup> | $— |
| Futures | Currency | Unrealized appreciation<sup>1</sup> | 433 | Unrealized depreciation<sup>1</sup> | 74 |
| Futures | Equity | Unrealized appreciation<sup>1</sup> | 16502 | Unrealized depreciation<sup>1</sup> | 33 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 177 |
|  |  |  | $19420 |  | $284 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Options purchased | Equity | Net realized loss on investments in unaffiliated issuers | $(38643) | Net unrealized appreciation on investments in unaffiliated issuers | $7712 |
| Futures | Currency | Net realized gain on futures contracts | 1635 | Net unrealized appreciation on futures contracts | 368 |
| Futures | Equity | Net realized loss on futures contracts | (12730) | Net unrealized appreciation on futures contracts | 17087 |
| Futures | Interest | Net realized loss on futures contracts | (40727) | Net unrealized depreciation on futures contracts | (116) |
|  |  |  | $(90465) |  | $25051 |

---

Refer to the end of the tables for footnotes.

320 American Funds Insurance Series

**Managed Risk Asset Allocation Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Options purchased | Equity | Investment securities from unaffiliated issuers<sup>3</sup> | $383 | Investment securities from unaffiliated issuers<sup>3</sup> | $— |
| Futures | Currency | Unrealized appreciation<sup>1</sup> | 196 | Unrealized depreciation<sup>1</sup> | 47 |
| Futures | Equity | Unrealized appreciation<sup>1</sup> | 13613 | Unrealized depreciation<sup>1</sup> | 18 |
| Futures | Interest | Unrealized appreciation<sup>1</sup> |  | Unrealized depreciation<sup>1</sup> | 162 |
|  |  |  | $14192 |  | $227 |
|  |  | **Net realized (loss) gain** | **Net realized (loss) gain** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Options purchased | Equity | Net realized loss on investments in unaffiliated issuers | $(5894) | Net unrealized appreciation on investments in unaffiliated issuers | $396 |
| Futures | Currency | Net realized gain on futures contracts | 1468 | Net unrealized appreciation on futures contracts | 158 |
| Futures | Equity | Net realized loss on futures contracts | (9987) | Net unrealized appreciation on futures contracts | 13720 |
| Futures | Interest | Net realized loss on futures contracts | (39248) | Net unrealized depreciation on futures contracts | (55) |
|  |  |  | $(53661) |  | $14219 |

---

<sup>1</sup> Includes cumulative appreciation/depreciation on futures contracts, centrally cleared interest rate swaps and/or centrally cleared credit default swaps as reported in the applicable table following each fund's investment portfolio. Only current day's variation margin is reported within each fund's statement of assets and liabilities.

<sup>2</sup> Amount less than one thousand.

<sup>3</sup> Includes options purchased as reported in each fund's investment portfolio.

**Collateral** — Some funds either receive or pledge highly liquid assets, such as cash or U.S. government securities, as collateral due to securities lending and/or their use of futures contracts, forward currency contracts, interest rate swaps, credit default swaps and/or future delivery contracts. For securities lending, each participating fund receives collateral in exchange for lending investment securities. The lending agent may reinvest collateral from securities lending transactions according to agreed parameters. For futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the program calls for each participating fund to pledge collateral for initial and variation margin by contract. For forward currency contracts, the program calls for each participating fund to either receive or pledge collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the program calls for each participating fund to either receive or pledge collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by each participating fund, if any, is disclosed in each fund's investment portfolio, and cash collateral pledged by each participating fund, if any, is held in a segregated account with the fund's custodian, which is reflected as pledged cash collateral in each fund's statement of assets and liabilities.

**Rights of offset** — Funds that hold forward currency contracts have enforceable master netting agreements with certain counterparties, where amounts payable by each party to the other in the same currency (with the same settlement date and with the same counter-party) are settled net of each party's payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency ("close-out netting"). For financial reporting purposes, the funds do not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statements of assets and liabilities.

American Funds Insurance Series 321

The following tables present each fund's forward currency contracts by counterparty that are subject to master netting agreements but that are not offset in the funds' statements of assets and liabilities. The net amount column shows the impact of offsetting on the funds' statement of assets and liabilities as of December 31, 2022, if close-out netting was exercised (dollars in thousands):

**New World Fund**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | |  | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | |  |
| <br>**Counterparty** | **Gross amounts<br> recognized in the**<br>**statement of assets<br> and liabilities** | | **Available<br> to offset** | **Non-cash<br> collateral\*** | **Cash<br> collateral\*** |<br>**Net<br> amount** |  |
| Assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Barclays Bank PLC | $— | <sup>†</sup> | $— | $— | $— | $— | <sup>†</sup> |
| Liabilities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Goldman Sachs | $26 |  | $— | $— | $— | $26 |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 24 |  |  |  |  | 24 |  |
| Total | $50 |  | $— | $— | $— | $50 |  |

---

**International Growth and Income Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | |
| <br>**Counterparty** | **Gross amounts<br> recognized in the**<br>**statement of assets<br> and liabilities** | **Available<br> to offset** | **Non-cash<br> collateral\*** | **Cash<br> collateral\*** |<br>**Net<br> amount** |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;UBS AG | $5 | $— | $— | $— | $5 |

---

**American Funds Global Balanced Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | |
| <br>**Counterparty** | **Gross amounts<br> recognized in the**<br>**statement of assets<br> and liabilities** | **Available<br> to offset** | **Non-cash<br> collateral\*** | **Cash<br> collateral\*** |<br>**Net<br> amount** |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | $76 | $(29) | $— | $(47) | $— |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 66 | (47) |  |  | 19 |
| &nbsp;&nbsp;&nbsp;Citibank | 113 | (28) |  |  | 85 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs | 92 | (8) |  |  | 84 |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 33 | (8) |  |  | 25 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1 | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;Standard Chartered Bank | 272 | (1) |  |  | 271 |
| &nbsp;&nbsp;&nbsp;UBS AG | 33 | (23) |  |  | 10 |
| Total | $686 | $(145) | $— | $(47) | $494 |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | $29 | $(29) | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 2 |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 47 | (47) |  |  |  |
| &nbsp;&nbsp;&nbsp;Citibank | 28 | (28) |  |  |  |
| &nbsp;&nbsp;&nbsp;Goldman Sachs | 8 | (8) |  |  |  |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 8 | (8) |  |  |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 3 |  |  |  | 3 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 1 | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;Standard Chartered Bank | 1 | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;UBS AG | 23 | (23) |  |  |  |
| Total | $150 | $(145) | $— | $— | $5 |

---

Refer to the end of the tables for footnotes.

322 American Funds Insurance Series

**The Bond Fund of America**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | |
| <br>**Counterparty** | **Gross amounts<br> recognized in the**<br>**statement of assets<br> and liabilities** | **Available<br> to offset** | **Non-cash<br> collateral\*** | **Cash<br> collateral\*** |<br>**Net<br> amount** |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Citibank | $63 | $(59) | $— | $— | $4 |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 106 | (4) |  |  | 102 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 3652 | (16) |  | (2380) | 1256 |
| Total | $3821 | $(79) | $— | $(2380) | $1362 |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Citibank | $59 | $(59) | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 4 | (4) |  |  |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 95 |  |  |  | 95 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 16 | (16) |  |  |  |
| Total | $174 | $(79) | $— | $— | $95 |

---

**Capital World Bond Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | **Gross amounts not offset in the<br> statement of assets and liabilities and<br> subject to a master netting agreement** | |
| <br>**Counterparty** | **Gross amounts<br> recognized in the**<br>**statement of assets<br> and liabilities** | **Available<br> to offset** | **Non-cash<br> collateral\*** | **Cash<br> collateral\*** |<br>**Net<br> amount** |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | $1728 | $(1013) | $(59) | $— | $656 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 433 | (433) |  |  |  |
| &nbsp;&nbsp;&nbsp;Citibank | 105 |  |  |  | 105 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs | 128 | (92) |  |  | 36 |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 215 | (123) |  | (92) |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 89 |  |  |  | 89 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 76 | (76) |  |  |  |
| &nbsp;&nbsp;&nbsp;Standard Chartered Bank | 3616 | (8) |  | (2190) | 1418 |
| &nbsp;&nbsp;&nbsp;UBS AG | 618 | (478) |  |  | 140 |
| Total | $7008 | $(2223) | $(59) | $(2282) | $2444 |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America | $1013 | $(1013) | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 473 | (433) | (40) |  |  |
| &nbsp;&nbsp;&nbsp;Goldman Sachs | 92 | (92) |  |  |  |
| &nbsp;&nbsp;&nbsp;HSBC Bank | 123 | (123) |  |  |  |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 268 | (76) |  |  | 192 |
| &nbsp;&nbsp;&nbsp;Standard Chartered Bank | 8 | (8) |  |  |  |
| &nbsp;&nbsp;&nbsp;UBS AG | 478 | (478) |  |  |  |
| Total | $2455 | $(2223) | $(40) | $— | $192 |

---

---

| | |
|:---|:---|
| \* | Collateral is shown on a settlement basis. |
| <sup>†</sup> | Amount less than one thousand. |

---

**6. Taxation and distributions**

**Federal income taxation** — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The funds are not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the year ended December 31, 2022, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the year, none of the funds incurred any significant interest or penalties.

American Funds Insurance Series 323

Each fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

**Non-U.S. taxation** — Dividend and interest income, if any, are recorded net of non-U.S. taxes paid. The funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the funds filed for additional reclaims related to prior years. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. During the year ended December 31, 2022, some of the funds recognized reclaims (net of fees and the effect of realized gain or loss from currency translations) and interest related to European court rulings as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Reclaims** | **Fees** | **Interest** |
| Global Growth Fund | $782 | $700 | $71 |
| Global Small Capitalization Fund | 264 | 1 | 3 |
| Growth Fund | 818 | 41 | 22 |
| International Fund | 5544 | 1191 | 920 |
| New World Fund | 358 | 110 | 14 |
| Growth-Income Fund | 3119 | 674 | 292 |
| International Growth and Income Fund | 995 | 133 | 35 |
| Capital Income Builder | 103 |  |  |
| Asset Allocation Fund | 23 | 115 | 9 |

---

The reclaims and interest are included in each fund's statements of operations. Gains realized by the funds on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. If applicable, the funds record an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; unrealized appreciation of certain investments in securities outside the U.S.; deferred expenses; cost of investments sold; paydowns on fixed-income securities; net capital losses; net operating losses; non-U.S. taxes on capital gains; amortization of premiums and discounts and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the funds for financial reporting purposes. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Additional tax basis disclosures for each fund as of December 31, 2022, were as follows (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Global<br> Growth<br> Fund** | **Global<br> Small<br> Capitalization<br> Fund** | **Growth<br> Fund** | **International<br> Fund** | **New<br> World<br> Fund** | **Washington<br> Mutual<br> Investors<br> Fund** |
| Undistributed ordinary income | $18515 | $1947 | $58974 | $15623 | $8333 | $45061 |
| Undistributed long-term capital gains | 549285 | 39017 | 1978732 |  |  | 89689 |
| Capital loss carryforward\* |  |  |  | (374845) |  |  |
| Gross unrealized appreciation on investments | 2375954 | 670857 | 11042046 | 1336912 | 734224 | 2118125 |
| Gross unrealized depreciation on investments | (532719) | (341080) | (2302474) | (696377) | (227842) | (434198) |
| Net unrealized appreciation (depreciation) on investments | 1843235 | 329777 | 8739572 | 640535 | 506382 | 1683927 |
| Cost of investments | 5104805 | 2679736 | 22239209 | 6111539 | 2581084 | 7749839 |
| Reclassification from (to) total distributable earnings/accumulated loss to (from) capital paid in on shares of beneficial interest | (2) | 1 | (1) |  | 2307 |  |

---

Refer to the end of the tables for footnote.

324 American Funds Insurance Series

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Capital World<br> Growth and<br> Income Fund** | **Growth-<br> Income<br> Fund** | **International<br> Growth<br> and Income<br> Fund** | **Capital<br> Income<br> Builder** | **Asset<br> Allocation<br> Fund** | **American<br> Funds<br> Global<br> Balanced<br> Fund** |
| Undistributed ordinary income | $6716 | $117578 | $1209 | $10957 | $120979 | $2667 |
| Undistributed long-term capital gains |  | 1825597 |  |  | 958605 | 44806 |
| Capital loss carryforward\* | (72176) |  | (23828) | (28240) |  |  |
| Gross unrealized appreciation on investments | 404604 | 11485057 | 40113 | 172719 | 5621631 | 32081 |
| Gross unrealized depreciation on investments | (145788) | (1261066) | (38777) | (48638) | (1495405) | (28506) |
| Net unrealized appreciation (depreciation) on investments | 258816 | 10223991 | 1336 | 124081 | 4126226 | 3575 |
| Cost of investments | 1470280 | 23017328 | 298123 | 1050210 | 21189651 | 360934 |
| Reclassification from (to) total distributable earnings/accumulated loss to (from) capital paid in on shares of beneficial interest |  | 1 | (2) | 1 |  | (5) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **The Bond<br> Fund of<br> America** | **Capital<br> World<br> Bond<br> Fund** | **American<br> High-Income<br> Trust** | **American<br> Funds<br> Mortgage<br> Fund** | **Ultra-Short<br> Bond<br> Fund** | **U.S.<br> Government<br> Securities<br> Fund** |
| Undistributed ordinary income | $58751 | $— | $9376 | $529 | $2708 | $8185 |
| Capital loss carryforward\* | (907300) | (133685) | (298537) | (9549) | (1) | (177836) |
| Gross unrealized appreciation on investments | 59386 | 15710 | 31393 | 1496 | 27 | 52241 |
| Gross unrealized depreciation on investments | (845293) | (205368) | (114413) | (3313) | (84) | (124942) |
| Net unrealized appreciation (depreciation) on investments | (785907) | (189658) | (83020) | (1817) | (57) | (72701) |
| Cost of investments | 11952694 | 1666306 | 899803 | 109898 | 423636 | 1796326 |
| Reclassification from (to) total distributable earnings/accumulated loss to (from) capital paid in on shares of beneficial interest |  | (18935) |  |  |  |  |
|  | **Managed<br> Risk<br> Growth<br> Fund** | **Managed<br> Risk<br> International<br> Fund** | **Managed<br> Risk<br> Washington<br> Mutual<br> Investors<br> Fund** | **Managed<br> Risk<br> Growth-<br> Income<br> Fund** | **Managed<br> Risk<br> Asset<br> Allocation<br> Fund** |  |
| Undistributed ordinary income | $5720 | $1966 | $5613 | $29224 | $35270 |  |
| Undistributed long-term capital gains | 105958 | 8883 | 41991 | 263419 | 248376 |  |
| Capital loss carryforward utilized |  | 12234 | 23718 |  |  |  |
| Gross unrealized appreciation on investments | 1057 | 229 | 981 | 10979 | 1506 |  |
| Gross unrealized depreciation on investments | (130250) | (34019) | (46563) | (168097) | (129608) |  |
| Net unrealized appreciation (depreciation) on investments | (129193) | (33790) | (45582) | (157118) | (128102) |  |
| Cost of investments | 569814 | 156568 | 362881 | 2216048 | 2296114 |  |

---

\* Each fund's capital loss carryforward will be used to offset any capital gains realized by the fund in future years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains.

American Funds Insurance Series 325

Distributions paid by each fund were characterized for tax purposes as follows (dollars in thousands):

**Global Growth Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| <br>**Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $39498 | $361119 | $400617 | $23870 | $193074 | $216944 |
| Class 1A | 141 | 1617 | 1758 | 55 | 645 | 700 |
| Class 2 | 32689 | 386947 | 419636 | 15210 | 221402 | 236612 |
| Class 4 | 4312 | 66240 | 70552 | 1339 | 30748 | 32087 |
| **Total** | $**76640** | $**815923** | $**892563** | $**40474** | $**445869** | $**486343** |
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $47544 | $285173 | $332717 | $— | $55655 | $55655 |
| Class 1A | 209 | 1252 | 1461 |  | 39 | 39 |
| Class 2 | 94748 | 568298 | 663046 |  | 60246 | 60246 |
| Class 4 | 13417 | 80475 | 93892 |  | 7215 | 7215 |
| **Total** | $**155918** | $**935198** | $**1091116** | $**—** | $**123155** | $**123155** |
| **Growth Fund** |  |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $319915 | $1912725 | $2232640 | $181380 | $2073422 | $2254802 |
| Class 1A | 3677 | 23411 | 27088 | 701 | 9031 | 9732 |
| Class 2 | 311929 | 2152577 | 2464506 | 167439 | 2610409 | 2777848 |
| Class 3 | 4207 | 28163 | 32370 | 2435 | 35107 | 37542 |
| Class 4 | 43665 | 340245 | 383910 | 17483 | 340551 | 358034 |
| **Total** | $**683393** | $**4457121** | $**5140514** | $**369438** | $**5068520** | $**5437958** |
| **International Fund** |  |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $94903 | $448918 | $543821 | $131730 | $— | $131730 |
| Class 1A | 281 | 1398 | 1679 | 281 |  | 281 |
| Class 2 | 86539 | 450228 | 536767 | 105815 |  | 105815 |
| Class 3 | 431 | 2195 | 2626 | 545 |  | 545 |
| Class 4 | 9244 | 52350 | 61594 | 10725 |  | 10725 |
| **Total** | $**191398** | $**955089** | $**1146487** | $**249096** | $**—** | $**249096** |

---

326 American Funds Insurance Series

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **New World Fund**<br>**Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $60201 | $129123 | $189324 | $26785 | $78257 | $105042 |
| Class 1A | 317 | 724 | 1041 | 77 | 273 | 350 |
| Class 2 | 26575 | 61661 | 88236 | 9450 | 36498 | 45948 |
| Class 4 | 22718 | 56063 | 78781 | 5794 | 28566 | 34360 |
| **Total** | $**109811** | $**247571** | $**357382** | $**42106** | $**143594** | $**185700** |
| **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $351097 | $1068126 | $1419223 | $104666 | $— | $104666 |
| Class 1A | 3359 | 10665 | 14024 | 2211 |  | 2211 |
| Class 2 | 173751 | 551636 | 725387 | 46652 |  | 46652 |
| Class 4 | 61406 | 196768 | 258174 | 12620 |  | 12620 |
| **Total** | $**589613** | $**1827195** | $**2416808** | $**166149** | $**—** | $**166149** |
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $32166 | $109599 | $141765 | $14543 | $16997 | $31540 |
| Class 1A | 337 | 1188 | 1525 | 99 | 67 | 166 |
| Class 2 | 57060 | 205827 | 262887 | 20948 | 29988 | 50936 |
| Class 4 | 10246 | 37875 | 48121 | 3094 | 4436 | 7530 |
| **Total** | $**99809** | $**354489** | $**454298** | $**38684** | $**51488** | $**90172** |
| **Growth-Income Fund** |  |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $597601 | $1754172 | $2351773 | $328564 | $239575 | $568139 |
| Class 1A | 784 | 2464 | 3248 | 308 | 185 | 493 |
| Class 2 | 328556 | 1071265 | 1399821 | 164258 | 145765 | 310023 |
| Class 3 | 3597 | 11428 | 15025 | 1864 | 1578 | 3442 |
| Class 4 | 41526 | 145017 | 186543 | 16599 | 16418 | 33017 |
| **Total** | $**972064** | $**2984346** | $**3956410** | $**511593** | $**403521** | $**915114** |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $397 | $6104 | $6501 | $4585 | $— | $4585 |
| Class 1A | 147 | 2108 | 2255 | 140 |  | 140 |
| Class 2 | 4951 | 81276 | 86227 | 6218 |  | 6218 |
| Class 4 | 3387 | 55677 | 59064 | 3589 |  | 3589 |
| **Total** | $**8882** | $**145165** | $**154047** | $**14532** | $**—** | $**14532** |

---

American Funds Insurance Series 327

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Capital Income Builder**<br>**Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $17636 | $— | $17636 | $16222 | $— | $16222 |
| Class 1A | 270 |  | 270 | 218 |  | 218 |
| Class 2 | 354 |  | 354 | 315 |  | 315 |
| Class 4 | 13728 |  | 13728 | 13009 |  | 13009 |
| **Total** | $**31988** | $**—** | $**31988** | $**29764** | $**—** | $**29764** |
| **Asset Allocation Fund** |  |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $476426 | $1525081 | $2001507 | $424814 | $579353 | $1004167 |
| Class 1A | 708 | 2098 | 2806 | 423 | 457 | 880 |
| Class 2 | 124332 | 440697 | 565029 | 108045 | 154751 | 262796 |
| Class 3 | 845 | 2914 | 3759 | 717 | 976 | 1693 |
| Class 4 | 142374 | 538249 | 680623 | 107752 | 164028 | 271780 |
| **Total** | $**744685** | $**2509039** | $**3253724** | $**641751** | $**899565** | $**1541316** |
| **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $72 | $498 | $570 | $1680 | $6058 | $7738 |
| Class 1A | 2 | 13 | 15 | 45 | 189 | 234 |
| Class 2 | 123 | 850 | 973 | 2431 | 10638 | 13069 |
| Class 4 | 85 | 589 | 674 | 1305 | 6901 | 8206 |
| **Total** | $**282** | $**1950** | $**2232** | $**5461** | $**23786** | $**29247** |
| **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $235158 | $60668 | $295826 | $301454 | $133858 | $435312 |
| Class 1A | 7470 | 1700 | 9170 | 408 | 193 | 601 |
| Class 2 | 98333 | 27763 | 126096 | 138464 | 69578 | 208042 |
| Class 4 | 24749 | 7113 | 31862 | 28710 | 14777 | 43487 |
| **Total** | $**365710** | $**97244** | $**462954** | $**469036** | $**218406** | $**687442** |
| **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $2151 | $11752 | $13903 | $34401 | $10279 | $44680 |
| Class 1A | 3 | 20 | 23 | 34 | 7 | 41 |
| Class 2 | 2087 | 13752 | 15839 | 33715 | 10855 | 44570 |
| Class 4 | 120 | 945 | 1065 | 1845 | 612 | 2457 |
| **Total** | $**4361** | $**26469** | $**30830** | $**69995** | $**21753** | $**91748** |

---

328 American Funds Insurance Series

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |  | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $18444 |  | $— | $18444 |  | $11054 | $— | $11054 |
| Class 1A | 100 |  |  | 100 |  | 59 |  | 59 |
| Class 2 | 42707 |  |  | 42707 |  | 28636 |  | 28636 |
| Class 3 | 694 |  |  | 694 |  | 429 |  | 429 |
| Class 4 | 5827 |  |  | 5827 |  | 3238 |  | 3238 |
| **Total** | $**67772** |  | $**—** | $**67772** |  | $**43416** | $**—** | $**43416** |
| **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** |  | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |  | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $15 |  | $— | $15 |  | $6294 | $3087 | $9381 |
| Class 1A | 37 |  |  | 37 |  | 39 | 18 | 57 |
| Class 2 | 995 |  |  | 995 |  | 1448 | 784 | 2232 |
| Class 4 | 746 |  |  | 746 |  | 936 | 551 | 1487 |
| **Total** | $**1793** |  | $**—** | $**1793** |  | $**8717** | $**4440** | $**13157** |
| **Ultra-Short Bond Fund** |  |  |  |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** |  | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |  | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $348 |  | $— | $348 |  | $— | $— | $— |
| Class 1A |  | <sup>†</sup> |  |  | <sup>†</sup> |  |  |  |
| Class 2 | 1570 |  |  | 1570 |  |  |  |  |
| Class 3 | 26 |  |  | 26 |  |  |  |  |
| Class 4 | 293 |  |  | 293 |  |  |  |  |
| **Total** | $**2237** |  | $**—** | $**2237** |  | $**—** | $**—** | $**—** |
| **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** |  |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** |  | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |  | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class 1 | $10360 |  | $— | $10360 |  | $30987 | $9355 | $40342 |
| Class 1A | 153 |  |  | 153 |  | 389 | 129 | 518 |
| Class 2 | 42631 |  |  | 42631 |  | 108143 | 36124 | 144267 |
| Class 3 | 292 |  |  | 292 |  | 714 | 234 | 948 |
| Class 4 | 7040 |  |  | 7040 |  | 17596 | 6057 | 23653 |
| **Total** | $**60476** |  | $**—** | $**60476** |  | $**157829** | $**51899** | $**209728** |

---

Refer to the end of the tables for footnote.

American Funds Insurance Series 329

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | | | |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class P1 | $162 | $1634 | $1796 | $106 | $409 | $515 |
| Class P2 | 6629 | 81821 | 88450 | 3159 | 23710 | 26869 |
| **Total** | $**6791** | $**83455** | $**90246** | $**3265** | $**24119** | $**27384** |
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class P1 | $69 | $— | $69 | $14 | $— | $14 |
| Class P2 | 4206 |  | 4206 | 917 |  | 917 |
| **Total** | $**4275** | $**—** | $**4275** | $**931** | $**—** | $**931** |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class P1 | $127 | $— | $127 | $40 | $— | $40 |
| Class P2 | 14544 |  | 14544 | 5979 |  | 5979 |
| **Total** | $**14671** | $**—** | $**14671** | $**6019** | $**—** | $**6019** |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class P1 | $43232 | $44484 | $87716 | $30716 | $29380 | $60096 |
| Class P2 | 5626 | 6461 | 12087 | 3713 | 4359 | 8072 |
| **Total** | $**48858** | $**50945** | $**99803** | $**34429** | $**33739** | $**68168** |
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |  |  |  |  |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| **Share class** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid** |
| Class P1 | $176 | $254 | $430 | $114 | $— | $114 |
| Class P2 | 51616 | 86918 | 138534 | 38113 |  | 38113 |
| **Total** | $**51792** | $**87172** | $**138964** | $**38227** | $**—** | $**38227** |

---

 

---

| | |
|:---|:---|
| <sup>†</sup> | Amount less than one thousand. |

---

**7. Fees and transactions**

CRMC, the series' investment adviser, is the parent company of American Funds Distributors<sup>®</sup>, Inc. ("AFD"), the distributor of the series' shares, and American Funds Service Company<sup>®</sup> ("AFS"), the series' transfer agent. CRMC, AFD and AFS are considered related parties to the series.

330 American Funds Insurance Series

**Investment advisory services** — The series has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on annual rates that generally decrease as net asset levels increase. CRMC receives investment advisory fees from the underlying funds held by the managed risk funds, which are included in the unaudited net effective expense ratios that are provided as additional information in the financial highlights tables. Subadvisory fees for the managed risk funds are paid by CRMC to Milliman FRM. The managed risk funds are not responsible for paying any subadvisory fees.

The series' board of trustees approved a revised investment advisory and services agreement effective May 1, 2022. The revised agreement provides investment advisory services fees based on revised annual rates and net asset levels for some of the funds. The following table discloses the annual rates and net asset levels before and after the revised contract became effective:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Prior to May 1, 2022** | **Prior to May 1, 2022** | **Prior to May 1, 2022** | **Prior to May 1, 2022** | **Effective May 1, 2022** | **Effective May 1, 2022** | **Effective May 1, 2022** | **Effective May 1, 2022** |
| | **Rates** | **Rates** | **Net asset levels<br> (in billions)** | **Net asset levels<br> (in billions)** | **Rates** | **Rates** | **Net asset levels<br> (in billions)** | **Net asset levels<br> (in billions)** |
| <br>**Fund** | **Beginning <br> with** | **Ending<br> with** | **Up to** | **In excess<br> of** | **Beginning <br> with** | **Ending<br> with** | **Up to** | **In excess<br> of** |
| Global Growth Fund | .690% | .445% | $.6 | $8 | .475% | .435% | $15 | $15 |
| Global Small Capitalization Fund | .800 | .635 | .6 | 5 | .647 | .615 | 15 | 15 |
| Growth Fund | .500 | .280 | .6 | 34 | .500 | .275 | .6 | 44 |
| International Fund | .690 | .430 | .5 | 21 | .478 | .430 | 15 | 21 |
| New World Fund | .850 | .580 | .5 | 4 | .577 | .510 | 15 | 15 |
| Washington Mutual Investors Fund | .500 | .350 | .6 | 10.5 | .374 | .350 | 15 | 15 |
| Capital World Growth and Income Fund | .690 | .480 | .6 | 3 | .475 | .435 | 15 | 15 |
| Growth-Income Fund | .500 | .219 | .6 | 34 | .500 | .217 | .6 | 44 |
| International Growth and Income Fund | .690 | .500 | .5 | 1.5 | .478 | .450 | 15 | 15 |
| Capital Income Builder | .500 | .410 | .6 | 1 | .357 | .330 | 15 | 15 |
| Asset Allocation Fund | .500 | .240 | .6 | 21 | .500 | .236 | .6 | 34 |
| American Funds Global Balanced Fund | .660 | .510 | .5 | 1 | .446 | .420 | 15 | 15 |
| The Bond Fund of America | .480 | .320 | .6 | 13 | .352 | .320 | 15 | 15 |
| Capital World Bond Fund | .570 | .450 | 1 | 3 | .431 | .360 | 15 | 15 |
| American High-Income Trust | .500 | .420 | .6 | 2 | .404 | .386 | 15 | 15 |
| American Funds Mortgage Fund | .420 | .290 | .6 | 3 | .295 | .280 | 15 | 15 |
| Ultra-Short Bond Fund | .320 | .270 | 1 | 2 | .257 | .242 | 15 | 15 |
| U.S. Government Securities Fund | .420 | .290 | .6 | 3 | .295 | .280 | 15 | 15 |

---

**Investment advisory services waivers** — CRMC is waiving a portion of its investment advisory services fees for some of the funds. During the year ended December 31, 2022, CRMC waived $1,000 in fees for Growth Fund in advance of the revised investment advisory and service agreement effective May 1, 2022. CRMC also waived a portion of its investment advisory services fees for the following funds based on the rates listed:

---

| | | |
|:---|:---|:---|
| **Fund** | **Waiver rates prior to<br> May 1, 2022** | **Waiver rates effective<br> May 1, 2022** |
| Global Growth Fund | Not applicable | .11% |
| Global Small Capitalization Fund | Not applicable | .05 |
| New World Fund | .18% | .07 |
| Washington Mutual Investors Fund | .16 | .11 |
| Capital World Growth and Income Fund | .23 | .14 |
| International Growth and Income Fund | .14 | .01 |
| Capital Income Builder | .25 | .14 |
| American Funds Global Balanced Fund | Not applicable | .01 |
| The Bond Fund of America | .19 | .19 |
| Capital World Bond Fund | .10 | .10 |
| American High-Income Trust | .19 | .14 |
| American Funds Mortgage Fund | .21 | .12 |
| U.S. Government Securities Fund | .16 | .12 |
| Managed Risk Growth Fund | .05 | .05 |
| Managed Risk International Fund | .05 | .05 |
| Managed Risk Washington Mutual Investors Fund | .05 | .05 |
| Managed Risk Growth-Income Fund | .05 | .05 |
| Managed Risk Asset Allocation Fund | .05 | .05 |

---

American Funds Insurance Series 331

The waiver rates for each fund, except Growth Fund, will be in effect through at least May 1, 2023, and may only be modified or terminated with the approval of the series' board. For the year ended December 31, 2022, total investment advisory services fees waived by CRMC were $58,051,000. CRMC does not intend to recoup these waivers. Investment advisory fees in each fund's statement of operations are presented gross of any waivers from CRMC.

The range of rates, net asset levels and the current annualized rates of average daily net assets for each fund before and after any investment advisory services waivers, if applicable, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Rates** | **Rates** | **Net asset level<br> (in billions)** | **Net asset level<br> (in billions)** | | |
| <br>**Fund** | **Beginning<br> with** | **Ending<br> with** | **Up to** | **In excess<br> of** | **For the<br> year ended<br> December 31,**<br>**2022,<br> before waiver** | **For the<br> year ended<br> December 31,**<br>**2022,<br> after waiver** |
| Global Growth Fund | .475% | .435% | $15.0 | $15.0 | .485% | .415% |
| Global Small Capitalization Fund | .647 | .615 | 15.0 | 15.0 | .668 | .637 |
| Growth Fund | .500 | .275 | .6 | 44.0 | .313 | .313 |
| International Fund | .478 | .430 | 15.0 | 21.0 | .485 | .485 |
| New World Fund | .577 | .510 | 15.0 | 15.0 | .619 | .509 |
| Washington Mutual Investors Fund | .374 | .350 | 15.0 | 15.0 | .378 | .230 |
| Capital World Growth and Income Fund | .475 | .435 | 15.0 | 15.0 | .518 | .364 |
| Growth-Income Fund | .500 | .217 | .6 | 44.0 | .254 | .254 |
| International Growth and Income Fund | .478 | .450 | 15.0 | 15.0 | .555 | .460 |
| Capital Income Builder | .357 | .330 | 15.0 | 15.0 | .395 | .218 |
| Asset Allocation Fund | .500 | .236 | .6 | 34.0 | .265 | .265 |
| American Funds Global Balanced Fund | .446 | .420 | 15.0 | 15.0 | .523 | .517 |
| The Bond Fund of America | .352 | .320 | 15.0 | 15.0 | .354 | .164 |
| Capital World Bond Fund | .431 | .360 | 15.0 | 15.0 | .471 | .433 |
| American High-Income Trust | .404 | .386 | 15.0 | 15.0 | .433 | .275 |
| American Funds Mortgage Fund | .295 | .280 | 15.0 | 15.0 | .346 | .189 |
| Ultra-Short Bond Fund | .257 | .242 | 15.0 | 15.0 | .275 | .275 |
| U.S. Government Securities Fund | .295 | .280 | 15.0 | 15.0 | .319 | .184 |
| Managed Risk Growth Fund | .150 |  | all |  | .150 | .100 |
| Managed Risk International Fund | .150 |  | all |  | .150 | .100 |
| Managed Risk Washington Mutual Investors Fund | .150 |  | all |  | .150 | .100 |
| Managed Risk Growth-Income Fund | .150 |  | all |  | .150 | .100 |
| Managed Risk Asset Allocation Fund | .150 |  | all |  | .150 | .100 |

---

**Class-specific fees and expenses** — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:

**Distribution services** — The series has plans of distribution for all share classes except Class 1. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares. The plans provide for payments to pay service fees to firms that have entered into agreements with the series. These payments, based on an annualized percentage of average daily net assets, range from 0.18% to 0.50% as noted in the table below. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans.

---

| | | |
|:---|:---|:---|
| **Share class** | **Currently approved limits** | **Plan limits** |
| Class 1A | 0.00% | 0.25% |
| Class 2 | 0.25 | 0.25 |
| Class 3 | 0.18 | 0.18 |
| Class 4 | 0.25 | 0.25 |
| Class P1 | 0.00 | 0.25 |
| Class P2 | 0.25 | 0.50 |

---

<br> 332 American Funds Insurance Series

**Insurance administrative services** — The series has an insurance administrative services plan for Class 1A, 4, P1 and P2 shares. Under the plan, these share classes pay 0.25% of each insurance company's respective average daily net assets in each share class to compensate the insurance companies for services provided to their separate accounts and contractholders for which the shares of the fund are beneficially owned as underlying investments of such contractholders' annuities. These services include, but are not limited to, maintenance, shareholder communications and transactional services. The insurance companies are not related parties to the series.

**Transfer agent services** — The series has a shareholder services agreement with AFS under which the funds compensate AFS for providing transfer agent services to all of the funds' share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the managed risk funds reimburse AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders.

**Administrative services** — The series has an administrative services agreement with CRMC under which each fund compensates CRMC for providing administrative services to all of the funds' share classes except Class P1 and P2 shares. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on each fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides each fund, other than the managed risk funds, the ability to charge an administrative services fee at the annual rate of 0.05% of average daily net assets attributable to each share class. Currently each fund, other than the managed-risk funds, pays CRMC an administrative services fee at the annual rate of 0.03% of average daily net assets of each share class for CRMC's provision of administrative services. For the managed risk funds, CRMC receives administrative services fees at an annual rate of 0.03% of average daily net assets from Class 1 shares of the underlying funds for administrative services provided to the series.

**Accounting and administrative services** — The managed risk funds have a subadministration agreement with Bank of New York Mellon ("BNY Mellon") under which the fund compensates BNY Mellon for providing accounting and administrative services to each of the managed risk funds' share classes. These services include, but are not limited to, fund accounting (including calculation of net asset value), financial reporting and tax services. BNY Mellon is not a related party to the managed risk funds.

Class-specific expenses under the agreements described above were as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Global Growth Fund**<br>**Share class** |<br>**Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $1002 |
| Class 1A | $— | $37 | 4 |
| Class 2 | 8754 | Not applicable | 1050 |
| Class 4 | 1500 | 1500 | 180 |
| **Total class-specific expenses** | **$10254** | **$1537** | **$2236** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | | |
| **Share class** | **Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $308 |
| Class 1A | $— | $11 | 1 |
| Class 2 | 4837 | Not applicable | 581 |
| Class 4 | 688 | 688 | 83 |
| **Total class-specific expenses** | **$5525** | **$699** | $**973** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Growth Fund**<br>**Share class** |<br>**Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $4542 |
| Class 1A | $— | $407 | 49 |
| Class 2 | 41888 | Not applicable | 5026 |
| Class 3 | 403 | Not applicable | 67 |
| Class 4 | 6532 | 6532 | 784 |
| **Total class-specific expenses** | **$48823** | **$6939** | **$10468** |

---

---

| | | | |
|:---|:---|:---|:---|
| **International Fund**<br>**Share class** |<br>**Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $1036 |
| Class 1A | $— | $26 | 3 |
| Class 2 | 8573 | Not applicable | 1029 |
| Class 3 | 30 | Not applicable | 5 |
| Class 4 | 982 | 982 | 118 |
| **Total class-specific expenses** | **$9585** | **$1008** | **$2191** |

---

<br> American Funds Insurance Series 333

---

| | | | |
|:---|:---|:---|:---|
| **New World Fund**<br>**Share class** |<br>**Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $535 |
| Class 1A | $— | $25 | 3 |
| Class 2 | 2101 | Not applicable | 252 |
| Class 4 | 1898 | 1898 | 228 |
| **Total class-specific expenses** | **$3999** | **$1923** | **$1018** |
| **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $1738 |
| Class 1A | $— | $243 | 29 |
| Class 2 | 7376 | Not applicable | 885 |
| Class 4 | 2639 | 2639 | 317 |
| **Total class-specific expenses** | **$10015** | **$2882** | **$2969** |
| **Capital World Growth and Income Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $175 |
| Class 1A | $— | $15 | 2 |
| Class 2 | 2689 | Not applicable | 323 |
| Class 4 | 483 | 484 | 58 |
| **Total class-specific expenses** | **$3172** | **$499** | **$558** |
| **Growth-Income Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $6289 |
| Class 1A | $— | $73 | 9 |
| Class 2 | 31403 | Not applicable | 3768 |
| Class 3 | 245 | Not applicable | 41 |
| Class 4 | 4213 | 4213 | 505 |
| **Total class-specific expenses** | **$35861** | **$4286** | **$10612** |
| **International Growth and Income Fund** |  |  |  |
| **Share class** | **Distribution**<br> **services** | **Insurance**<br> **administrative**<br> **services** | **Administrative**<br> **services** |
| Class 1 | Not applicable | Not applicable | $4 |
| Class 1A | $— | $12 | 2 |
| Class 2 | 432 | Not applicable | 52 |
| Class 4 | 294 | 294 | 35 |
| **Total class-specific expenses** | **$726** | **$306** | **$93** |
| **Capital Income Builder** |  |  |  |
| **Share class** | **Distribution**<br> **services** | **Insurance**<br> **administrative**<br> **services** | **Administrative**<br> **services** |
| Class 1 | Not applicable | Not applicable | $170 |
| Class 1A | $— | $24 | 3 |
| Class 2 | 31 | Not applicable | 4 |
| Class 4 | 1337 | 1338 | 160 |
| **Total class-specific expenses** | **$1368** | **$1362** | **$337** |
| **Asset Allocation Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $4850 |
| Class 1A | $— | $62 | 8 |
| Class 2 | 11503 | Not applicable | 1380 |
| Class 3 | 55 | Not applicable | 9 |
| Class 4 | 14002 | 14002 | 1680 |
| **Total class-specific expenses** | **$25560** | **$14064** | **$7927** |
| **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $31 |
| Class 1A | $— | $7 | 1 |
| Class 2 | 428 | Not applicable | 51 |
| Class 4 | 293 | 293 | 35 |
| **Total class-specific expenses** | **$721** | **$300** | **$118** |
| **The Bond Fund of America** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $2100 |
| Class 1A | $— | $354 | 43 |
| Class 2 | 7903 | Not applicable | 948 |
| Class 4 | 2027 | 2027 | 243 |
| **Total class-specific expenses** | **$9930** | **$2381** | **$3334** |
| **Capital World Bond Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $222 |
| Class 1A | $— | $4 | — \* |
| Class 2 | 2109 | Not applicable | 253 |
| Class 4 | 142 | 142 | 17 |
| **Total class-specific expenses** | **$2251** | **$146** | **$492** |

---

Refer to the end of the tables for footnote.

334 American Funds Insurance Series

---

| | | | |
|:---|:---|:---|:---|
| **American High-Income Trust** | **American High-Income Trust** | | |
| **Share class** | **Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |<br>**Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $71 |
| Class 1A | $— | $3 | — \* |
| Class 2 | 1440 | Not applicable | 173 |
| Class 3 | 16 | Not applicable | 3 |
| Class 4 | 200 | 200 | 24 |
| **Total class-specific expenses** | **$1656** | **$203** | **$271** |
| **American Funds Mortgage Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $3 |
| Class 1A | $— | $4 | 1 |
| Class 2 | 127 | Not applicable | 15 |
| Class 4 | 101 | 101 | 12 |
| **Total class-specific expenses** | **$228** | **$105** | **$31** |
| **Ultra-Short Bond Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $14 |
| Class 1A | $— | $— | — \* |
| Class 2 | 707 | Not applicable | 85 |
| Class 3 | 9 | Not applicable | 1 |
| Class 4 | 173 | 173 | 21 |
| **Total class-specific expenses** | **$889** | **$173** | **$121** |
| **U.S. Government Securities Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** | **Administrative<br> services** |
| Class 1 | Not applicable | Not applicable | $81 |
| Class 1A | $— | $10 | 1 |
| Class 2 | 2967 | Not applicable | 356 |
| Class 3 | 15 | Not applicable | 3 |
| Class 4 | 512 | 512 | 62 |
| **Total class-specific expenses** | **$3494** | **$522** | **$503** |

---

---

| | | |
|:---|:---|:---|
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | |
| **Share class** | **Distribution<br> services** |<br>**Insurance<br> administrative<br> services** |
| Class P1 | Not applicable | $25 |
| Class P2 | $1219 | 1219 |
| **Total class-specific expenses** | **$1219** | **$1244** |
| **Managed Risk International Fund** |  |  |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** |
| Class P1 | Not applicable | $4 |
| Class P2 | $342 | 342 |
| **Total class-specific expenses** | **$342** | **$346** |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** |
| Class P1 | Not applicable | $6 |
| Class P2 | $824 | 824 |
| **Total class-specific expenses** | **$824** | **$830** |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** |
| Class P1 | Not applicable | $4945 |
| Class P2 | $720 | 720 |
| **Total class-specific expenses** | **$720** | **$5665** |
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |
| **Share class** | **Distribution<br> services** | **Insurance<br> administrative<br> services** |
| Class P1 | Not applicable | $18 |
| Class P2 | $5935 | 5935 |
| **Total class-specific expenses** | **$5935** | **$5953** |

---

\* Amount less than one thousand.

American Funds Insurance Series 335

**Miscellaneous fee reimbursements** — CRMC reimbursed a portion of miscellaneous fees and expenses for Managed Risk International Fund. These reimbursements may be adjusted or discontinued by CRMC, subject to any restrictions in the series' prospectus. For the year ended December 31, 2022, total fees and expenses reimbursed by CRMC were $32,000. CRMC does not intend to recoup these reimbursements. Fees and expenses in each fund's statement of operations are presented gross of any reimbursements from CRMC.

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the funds, are treated as if invested in one or more of the American Funds. These amounts represent general, unsecured liabilities of the funds and vary according to the total returns of the selected funds. Trustees' compensation, shown on the accompanying financial statements, reflects current fees (either paid in cash or deferred) and a net decrease in the value of the deferred amounts as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Current fees** | **Decrease in value of<br> deferred amounts** | **Total trustees'<br> compensation** |
| Global Growth Fund | $21 | $(11) | $10 |
| Global Small Capitalization Fund | 10 | (5) | 5 |
| Growth Fund | 99 | (54) | 45 |
| International Fund | 21 | (11) | 10 |
| New World Fund | 10 | (5) | 5 |
| Washington Mutual Investors Fund | 27 | (16) | 11 |
| Capital World Growth and Income Fund | 5 | (3) | 2 |
| Growth-Income Fund | 98 | (56) | 42 |
| International Growth and Income Fund | 1 | — \* | 1 |
| Capital Income Builder | 3 | (2) | 1 |
| Asset Allocation Fund | 73 | (43) | 30 |
| American Funds Global Balanced Fund | 1 | (1) | — \* |
| The Bond Fund of America | 31 | (19) | 12 |
| Capital World Bond Fund | 5 | (3) | 2 |
| American High-Income Trust | 3 | (1) | 2 |
| American Funds Mortgage Fund | — \* | — \* | — \* |
| Ultra-Short Bond Fund | 1 | (1) | — \* |
| U.S. Government Securities Fund | 5 | (3) | 2 |
| Managed Risk Growth Fund | 2 | (1) | 1 |
| Managed Risk International Fund | — \* | — \* | — \* |
| Managed Risk Washington Mutual Investors Fund | 1 | (1) | — \* |
| Managed Risk Growth-Income Fund | 6 | (4) | 2 |
| Managed Risk Asset Allocation Fund | 7 | (4) | 3 |

---

\* Amount less than one thousand.

**Affiliated officers and trustees** — Officers and certain trustees of the series are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from any fund in the series.

**Investments in CCBF and CCF** — Some of the funds hold shares of CCBF, a corporate bond fund, and/or CCF, an institutional prime money market fund ,which are both managed by CRMC. CCBF seeks to provide maximum total return consistent with capital preservation and prudent risk management by investing primarily in corporate debt instruments. CCBF is used as an investment vehicle for some of the funds' corporate bond investments. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for some of the funds' short-term investments. Both CCBF and CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from either CCBF or CCF.

**Security transactions with related funds** — The funds may purchase from, or sell securities to, other CRMC-managed funds (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act.

336 American Funds Insurance Series

The following table presents purchase and sale transactions between each fund and related funds, and net realized loss or gain from such sales, if any, as of December 31, 2022 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | **Net<br> realized<br> (loss) gain** |
| Global Growth Fund | $49680 | $71818 | $(20300) |
| Global Small Capitalization Fund | 57920 | 34601 | 1035 |
| Growth Fund | 261401 | 361390 | 36542 |
| International Fund | 104003 | 132023 | (15330) |
| New World Fund | 32986 | 51119 | 1384 |
| Washington Mutual Investors Fund | 78899 | 86050 | (13933) |
| Capital World Growth and Income Fund | 29485 | 42194 | (1316) |
| Growth-Income Fund | 260856 | 367634 | 60804 |
| International Growth and Income Fund | 3035 | 3711 | (301) |
| Capital Income Builder | 11219 | 9127 | 1159 |
| Asset Allocation Fund | 217739 | 147808 | (22154) |
| American Funds Global Balanced Fund | 2864 | 3686 | (19) |
| The Bond Fund of America | 1289 | 6983 | (541) |
| Capital World Bond Fund | 58 | 14120 | (947) |
| American High-Income Trust | 57 | 29194 | (1415) |

---

**8. Indemnifications**

The series' organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the series. In the normal course of business, the series may also enter into contracts that provide general indemnifications. Each fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the series. The risk of material loss from such claims is considered remote. Insurance policies are also available to the series' board members and officers.

**9. Committed line of credit**

Global Small Capitalization Fund, New World Fund and American High-Income Trust participate with other funds managed by CRMC in a $1.5 billion credit facility (the "line of credit") to be utilized for temporary purposes to fund shareholder redemptions. Each fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which are reflected in other expenses in each fund's statement of operations. None of the funds borrowed on this line of credit at any time during the year ended December 31, 2022.

American Funds Insurance Series 337

**10. Capital share transactions**

Capital share transactions in each fund were as follows (dollars and shares in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | **Global Growth Fund** | | | | | |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br>(decrease)** | **Net increase<br>(decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | | | | | |
| &nbsp;&nbsp;&nbsp;Class 1 | $434070 | 13042 | $400617 | 12733 | $(553744) | (16845) | $280943 | 8930 |
| &nbsp;&nbsp;&nbsp;Class 1A | 2997 | 91 | 1758 | 56 | (2085) | (65) | 2670 | 82 |
| &nbsp;&nbsp;&nbsp;Class 2 | 92048 | 2700 | 419636 | 13511 | (295933) | (9100) | 215751 | 7111 |
| &nbsp;&nbsp;&nbsp;Class 4 | 99092 | 2978 | 70552 | 2294 | (71372) | (2195) | 98272 | 3077 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**628207** | **18811** | $**892563** | **28594** | $**(923134)** | **(28205)** | $**597636** | **19200** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $683154 | 15421 | $216944 | 5062 | $(307264) | (6960) | $592834 | 13523 |
| &nbsp;&nbsp;&nbsp;Class 1A | 6731 | 151 | 700 | 17 | (2591) | (58) | 4840 | 110 |
| &nbsp;&nbsp;&nbsp;Class 2 | 69770 | 1607 | 236612 | 5601 | (588817) | (13514) | (282435) | (6306) |
| &nbsp;&nbsp;&nbsp;Class 4 | 167855 | 3876 | 32087 | 766 | (48523) | (1127) | 151419 | 3515 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**927510** | **21055** | $**486343** | **11446** | $**(947195)** | **(21659)** | $**466658** | **10842** |
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** |  |  |  |  |  |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br>increase** | **Net (decrease)<br>increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $187481 | 9235 | $331498 | 19030 | $(570697) | (21774) | $(51718) | 6491 |
| &nbsp;&nbsp;&nbsp;Class 1A | 989 | 43 | 1461 | 85 | (276) | (15) | 2174 | 113 |
| &nbsp;&nbsp;&nbsp;Class 2 | 111019 | 5043 | 663046 | 40307 | (118512) | (6722) | 655553 | 38628 |
| &nbsp;&nbsp;&nbsp;Class 4 | 56480 | 2653 | 93892 | 5707 | (34387) | (1715) | 115985 | 6645 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**355969** | **16974** | $**1089897** | **65129** | $**(723872)** | **(30226)** | $**721994** | **51877** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $216763 | 6235 | $55510 | 1581 | $(1077292) | (31128) | $(805019) | (23312) |
| &nbsp;&nbsp;&nbsp;Class 1A | 4095 | 118 | 39 | 1 | (153) | (4) | 3981 | 115 |
| &nbsp;&nbsp;&nbsp;Class 2 | 59596 | 1785 | 60246 | 1778 | (374611) | (11071) | (254769) | (7508) |
| &nbsp;&nbsp;&nbsp;Class 4 | 89704 | 2662 | 7215 | 212 | (30621) | (901) | 66298 | 1973 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**370158** | **10800** | $**123010** | **3572** | $**(1482677)** | **(43104)** | $**(989509)** | **(28732)** |

---

Refer to the end of the tables for footnotes.

338 American Funds Insurance Series

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br>(decrease)** | **Net increase<br>(decrease)** |
| **Growth Fund**<br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | | | | | |
| &nbsp;&nbsp;&nbsp;Class 1 | $2593666 | 29149 | $2228505 | 26120 | $(3051097) | (31275) | $1771074 | 23994 |
| &nbsp;&nbsp;&nbsp;Class 1A | 133124 | 1387 | 27088 | 320 | (15271) | (181) | 144941 | 1526 |
| &nbsp;&nbsp;&nbsp;Class 2 | 520092 | 5686 | 2464507 | 29214 | (1621163) | (17346) | 1363436 | 17554 |
| &nbsp;&nbsp;&nbsp;Class 3 | 1224 | 14 | 32371 | 376 | (28004) | (296) | 5591 | 94 |
| &nbsp;&nbsp;&nbsp;Class 4 | 409323 | 4647 | 383909 | 4657 | (227877) | (2558) | 565355 | 6746 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**3657429** | **40883** | $**5136380** | **60687** | $**(4943412)** | **(51656)** | $**3850397** | **49914** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $2916865 | 22963 | $2251516 | 19653 | $(2207142) | (17684) | $2961239 | 24932 |
| &nbsp;&nbsp;&nbsp;Class 1A | 68640 | 560 | 9733 | 86 | (25312) | (198) | 53061 | 448 |
| &nbsp;&nbsp;&nbsp;Class 2 | 432245 | 3495 | 2777848 | 24558 | (3289822) | (26755) | (79729) | 1298 |
| &nbsp;&nbsp;&nbsp;Class 3 | 1972 | 15 | 37541 | 326 | (37449) | (298) | 2064 | 43 |
| &nbsp;&nbsp;&nbsp;Class 4 | 553762 | 4582 | 358034 | 3232 | (224958) | (1864) | 686838 | 5950 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**3973484** | **31615** | $**5434672** | **47855** | $**(5784683)** | **(46799)** | $**3623473** | **32671** |
| **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** | **International Fund** |  |  |  |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $280536 | 15960 | $543821 | 32473 | $(1015741) | (51244) | $(191384) | (2811) |
| &nbsp;&nbsp;&nbsp;Class 1A | 2247 | 127 | 1679 | 101 | (1009) | (63) | 2917 | 165 |
| &nbsp;&nbsp;&nbsp;Class 2 | 189379 | 10637 | 536766 | 32189 | (347301) | (20471) | 378844 | 22355 |
| &nbsp;&nbsp;&nbsp;Class 3 | 87 | 5 | 2627 | 156 | (1366) | (79) | 1348 | 82 |
| &nbsp;&nbsp;&nbsp;Class 4 | 65571 | 3703 | 61594 | 3751 | (53681) | (3200) | 73484 | 4254 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**537820** | **30432** | $**1146487** | **68670** | $**(1419098)** | **(75057)** | $**265209** | **24045** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $366681 | 15339 | $131729 | 5782 | $(1253303) | (51135) | $(754893) | (30014) |
| &nbsp;&nbsp;&nbsp;Class 1A | 4570 | 192 | 281 | 13 | (2479) | (103) | 2372 | 102 |
| &nbsp;&nbsp;&nbsp;Class 2 | 264867 | 11161 | 105815 | 4673 | (502502) | (20818) | (131820) | (4984) |
| &nbsp;&nbsp;&nbsp;Class 3 | 125 | 5 | 546 | 24 | (3534) | (146) | (2863) | (117) |
| &nbsp;&nbsp;&nbsp;Class 4 | 95888 | 4069 | 10725 | 480 | (51434) | (2169) | 55179 | 2380 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**732131** | **30766** | $**249096** | **10972** | $**(1813252)** | **(74371)** | $**(832025)** | **(32633)** |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 339

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** | **New World Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br>increase** | **Net (decrease)<br>increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $91026 | 3688 | $189325 | 7939 | $(434293) | (16140) | $(153942) | (4513) |
| &nbsp;&nbsp;&nbsp;Class 1A | 1549 | 60 | 1040 | 44 | (1769) | (76) | 820 | 28 |
| &nbsp;&nbsp;&nbsp;Class 2 | 72626 | 2937 | 88236 | 3744 | (163288) | (6534) | (2426) | 147 |
| &nbsp;&nbsp;&nbsp;Class 4 | 133209 | 5310 | 78780 | 3371 | (133462) | (5583) | 78527 | 3098 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**298410** | **11995** | $**357381** | **15098** | $**(732812)** | **(28333)** | $**(77021)** | **(1240)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $180001 | 5517 | $104795 | 3183 | $(165865) | (5053) | $118931 | 3647 |
| &nbsp;&nbsp;&nbsp;Class 1A | 14137 | 436 | 350 | 11 | (21114) | (642) | (6627) | (195) |
| &nbsp;&nbsp;&nbsp;Class 2 | 82347 | 2547 | 45947 | 1410 | (159868) | (4915) | (31574) | (958) |
| &nbsp;&nbsp;&nbsp;Class 4 | 135084 | 4224 | 34360 | 1061 | (74083) | (2295) | 95361 | 2990 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**411569** | **12724** | $**185452** | **5665** | $**(420930)** | **(12905)** | $**176091** | **5484** |
| **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $311628 | 22333 | $1412614 | 106476 | $(1024832) | (69053) | $699410 | 59756 |
| &nbsp;&nbsp;&nbsp;Class 1A | 33907 | 2321 | 14025 | 1066 | (125110) | (7699) | (77178) | (4312) |
| &nbsp;&nbsp;&nbsp;Class 2 | 48719 | 3523 | 725386 | 55707 | (414058) | (28659) | 360047 | 30571 |
| &nbsp;&nbsp;&nbsp;Class 4 | 238615 | 16711 | 258174 | 20025 | (148002) | (10093) | 348787 | 26643 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**632869** | **44888** | $**2410199** | **183274** | $**(1712002)** | **(115504)** | $**1331066** | **112658** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $740227 | 42419 | $104068 | 6017 | $(1150862) | (70448) | $(306567) | (22012) |
| &nbsp;&nbsp;&nbsp;Class 1A | 128020 | 7779 | 2211 | 129 | (4020) | (244) | 126211 | 7664 |
| &nbsp;&nbsp;&nbsp;Class 2 | 51950 | 3263 | 46652 | 2739 | (508810) | (31581) | (410208) | (25579) |
| &nbsp;&nbsp;&nbsp;Class 4 | 156222 | 9709 | 12620 | 746 | (66538) | (4145) | 102304 | 6310 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**1076419** | **63170** | $**165551** | **9631** | $**(1730230)** | **(106418)** | $**(488260)** | **(33617)** |
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $286528 | 22239 | $137343 | 10946 | $(434782) | (30278) | $(10911) | 2907 |
| &nbsp;&nbsp;&nbsp;Class 1A | 1618 | 116 | 1525 | 122 | (1079) | (91) | 2064 | 147 |
| &nbsp;&nbsp;&nbsp;Class 2 | 15274 | 1157 | 262887 | 21001 | (144703) | (10617) | 133458 | 11541 |
| &nbsp;&nbsp;&nbsp;Class 4 | 25643 | 1909 | 48121 | 3940 | (22999) | (1756) | 50765 | 4093 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**329063** | **25421** | $**449876** | **36009** | $**(603563)** | **(42742)** | $**175376** | **18688** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $171552 | 9531 | $30555 | 1698 | $(117328) | (6578) | $84779 | 4651 |
| &nbsp;&nbsp;&nbsp;Class 1A | 4092 | 231 | 166 | 9 | (605) | (34) | 3653 | 206 |
| &nbsp;&nbsp;&nbsp;Class 2 | 21440 | 1205 | 50935 | 2838 | (216241) | (12206) | (143866) | (8163) |
| &nbsp;&nbsp;&nbsp;Class 4 | 49326 | 2833 | 7530 | 427 | (16390) | (939) | 40466 | 2321 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**246410** | **13800** | $**89186** | **4972** | $**(350564)** | **(19757)** | $**(14968)** | **(985)** |

---

Refer to the end of the tables for footnotes.

340 American Funds Insurance Series

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br>(decrease)** | **Net increase<br>(decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $2026623 | 38323 | $2348918 | 43972 | $(3853406) | (68861) | $522135 | 13434 |
| &nbsp;&nbsp;&nbsp;Class 1A | 4813 | 89 | 3248 | 61 | (3333) | (64) | 4728 | 86 |
| &nbsp;&nbsp;&nbsp;Class 2 | 119436 | 2219 | 1399821 | 26589 | (1455432) | (26710) | 63825 | 2098 |
| &nbsp;&nbsp;&nbsp;Class 3 | 766 | 15 | 15025 | 280 | (15511) | (279) | 280 | 16 |
| &nbsp;&nbsp;&nbsp;Class 4 | 180173 | 3342 | 186543 | 3596 | (153528) | (2879) | 213188 | 4059 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**2331811** | **43988** | $**3953555** | **74498** | $**(5481210)** | **(98793)** | $**804156** | **19693** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $778306 | 12603 | $567351 | 8928 | $(3472494) | (56343) | $(2126837) | (34812) |
| &nbsp;&nbsp;&nbsp;Class 1A | 14065 | 224 | 493 | 8 | (2433) | (39) | 12125 | 193 |
| &nbsp;&nbsp;&nbsp;Class 2 | 143239 | 2361 | 310023 | 4964 | (2027406) | (33135) | (1574144) | (25810) |
| &nbsp;&nbsp;&nbsp;Class 3 | 1007 | 16 | 3442 | 54 | (23575) | (379) | (19126) | (309) |
| &nbsp;&nbsp;&nbsp;Class 4 | 302016 | 4995 | 33018 | 536 | (132399) | (2191) | 202635 | 3340 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**1238633** | **20199** | $**914327** | **14490** | $**(5658307)** | **(92087)** | $**(3505347)** | **(57398)** |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $2793 | 220 | $6501 | 686 | $(16761) | (946) | $(7467) | (40) |
| &nbsp;&nbsp;&nbsp;Class 1A | 1041 | 92 | 2255 | 244 | (921) | (61) | 2375 | 275 |
| &nbsp;&nbsp;&nbsp;Class 2 | 7743 | 664 | 86227 | 9344 | (24550) | (2262) | 69420 | 7746 |
| &nbsp;&nbsp;&nbsp;Class 4 | 23335 | 2027 | 59065 | 6499 | (13968) | (1295) | 68432 | 7231 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**34912** | **3003** | $**154048** | **16773** | $**(56200)** | **(4564)** | $**132760** | **15212** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $48015 | 2368 | $4294 | 210 | $(1169382) | (59936) | $(1117073) | (57358) |
| &nbsp;&nbsp;&nbsp;Class 1A | 2986 | 152 | 141 | 7 | (561) | (28) | 2566 | 131 |
| &nbsp;&nbsp;&nbsp;Class 2 | 8004 | 401 | 6218 | 322 | (29755) | (1507) | (15533) | (784) |
| &nbsp;&nbsp;&nbsp;Class 4 | 27229 | 1381 | 3589 | 188 | (13127) | (671) | 17691 | 898 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**86234** | **4302** | $**14242** | **727** | $**(1212825)** | **(62142)** | $**(1112349)** | **(57113)** |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 341

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br>(decrease)** | **Net increase<br>(decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $177351 | 15800 | $17636 | 1573 | $(114944) | (10289) | $80043 | 7084 |
| &nbsp;&nbsp;&nbsp;Class 1A | 2218 | 196 | 270 | 24 | (1259) | (111) | 1229 | 109 |
| &nbsp;&nbsp;&nbsp;Class 2 | 2390 | 211 | 355 | 32 | (1006) | (88) | 1739 | 155 |
| &nbsp;&nbsp;&nbsp;Class 4 | 94517 | 8303 | 13728 | 1228 | (81854) | (7293) | 26391 | 2238 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**276476** | **24510** | $**31989** | **2857** | $**(199063)** | **(17781)** | $**109402** | **9586** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $107711 | 9192 | $16222 | 1379 | $(252397) | (21377) | $(128464) | (10806) |
| &nbsp;&nbsp;&nbsp;Class 1A | 2434 | 206 | 218 | 19 | (451) | (39) | 2201 | 186 |
| &nbsp;&nbsp;&nbsp;Class 2 | 5007 | 428 | 315 | 27 | (1572) | (134) | 3750 | 321 |
| &nbsp;&nbsp;&nbsp;Class 4 | 70040 | 6029 | 13009 | 1105 | (42227) | (3629) | 40822 | 3505 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**185192** | **15855** | $**29764** | **2530** | $**(296647)** | **(25179)** | $**(81691)** | **(6794)** |
| **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $1365105 | 57634 | $2001507 | 85450 | $(2607782) | (108817) | $758830 | 34267 |
| &nbsp;&nbsp;&nbsp;Class 1A | 8603 | 375 | 2806 | 121 | (2839) | (126) | 8570 | 370 |
| &nbsp;&nbsp;&nbsp;Class 2 | 58248 | 2413 | 565030 | 24435 | (581503) | (24252) | 41775 | 2596 |
| &nbsp;&nbsp;&nbsp;Class 3 | 126 | 5 | 3759 | 160 | (3377) | (141) | 508 | 24 |
| &nbsp;&nbsp;&nbsp;Class 4 | 332209 | 13862 | 680622 | 29650 | (423984) | (17975) | 588847 | 25537 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**1764291** | **74289** | $**3253724** | **139816** | $**(3619485)** | **(151311)** | $**1398530** | **62794** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $1077099 | 38077 | $1004165 | 35557 | $(4395063) | (151941) | $(2313799) | (78307) |
| &nbsp;&nbsp;&nbsp;Class 1A | 8925 | 315 | 880 | 31 | (1749) | (63) | 8056 | 283 |
| &nbsp;&nbsp;&nbsp;Class 2 | 117974 | 4243 | 262797 | 9420 | (649009) | (23286) | (268238) | (9623) |
| &nbsp;&nbsp;&nbsp;Class 3 | 1030 | 36 | 1693 | 60 | (2340) | (83) | 383 | 13 |
| &nbsp;&nbsp;&nbsp;Class 4 | 687105 | 24820 | 271781 | 9809 | (264761) | (9619) | 694125 | 25010 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**1892133** | **67491** | $**1541316** | **54877** | $**(5312922)** | **(184992)** | $**(1879473)** | **(62624)** |

---

Refer to the end of the tables for footnotes.

342 American Funds Insurance Series

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br>increase** | **Net (decrease)<br>increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $37857 | 3046 | $570 | 44 | $(45473) | (3593) | $(7046) | (503) |
| &nbsp;&nbsp;&nbsp;Class 1A | 160 | 12 | 15 | 1 | (857) | (63) | (682) | (50) |
| &nbsp;&nbsp;&nbsp;Class 2 | 3979 | 308 | 974 | 74 | (24238) | (1876) | (19285) | (1494) |
| &nbsp;&nbsp;&nbsp;Class 4 | 9992 | 779 | 674 | 52 | (14316) | (1139) | (3650) | (308) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**51988** | **4145** | $**2233** | **171** | $**(84884)** | **(6671)** | $**(30663)** | **(2355)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $9259 | 623 | $7739 | 533 | $(40506) | (2798) | $(23508) | (1642) |
| &nbsp;&nbsp;&nbsp;Class 1A | 925 | 63 | 233 | 16 | (252) | (17) | 906 | 62 |
| &nbsp;&nbsp;&nbsp;Class 2 | 5621 | 383 | 13069 | 902 | (27137) | (1828) | (8447) | (543) |
| &nbsp;&nbsp;&nbsp;Class 4 | 28503 | 1957 | 8206 | 572 | (10476) | (713) | 26233 | 1816 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**44308** | **3026** | $**29247** | **2023** | $**(78371)** | **(5356)** | $**(4816)** | **(307)** |
| **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $1045629 | 102870 | $293730 | 29996 | $(2254686) | (218872) | $(915327) | (86006) |
| &nbsp;&nbsp;&nbsp;Class 1A | 222556 | 22066 | 9170 | 944 | (5163) | (515) | 226563 | 22495 |
| &nbsp;&nbsp;&nbsp;Class 2 | 49800 | 5005 | 126095 | 13059 | (487579) | (48690) | (311684) | (30626) |
| &nbsp;&nbsp;&nbsp;Class 4 | 123107 | 12517 | 31861 | 3314 | (113670) | (11505) | 41298 | 4326 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**1441092** | **142458** | $**460856** | **47313** | $**(2861098)** | **(279582)** | $**(959150)** | **(89811)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $2441954 | 212866 | $432376 | 38456 | $(737146) | (64100) | $2137184 | 187222 |
| &nbsp;&nbsp;&nbsp;Class 1A | 5329 | 464 | 601 | 54 | (2565) | (223) | 3365 | 295 |
| &nbsp;&nbsp;&nbsp;Class 2 | 204371 | 17879 | 208042 | 18765 | (302247) | (26735) | 110166 | 9909 |
| &nbsp;&nbsp;&nbsp;Class 4 | 240539 | 21228 | 43487 | 3939 | (60173) | (5327) | 223853 | 19840 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**2892193** | **252437** | $**684506** | **61214** | $**(1102131)** | **(96385)** | $**2474568** | **217266** |
| **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $63069 | 6354 | $13903 | 1398 | $(234228) | (22105) | $(157256) | (14353) |
| &nbsp;&nbsp;&nbsp;Class 1A | 470 | 46 | 24 | 2 | (371) | (38) | 123 | 10 |
| &nbsp;&nbsp;&nbsp;Class 2 | 32696 | 3225 | 15838 | 1606 | (121387) | (11954) | (72853) | (7123) |
| &nbsp;&nbsp;&nbsp;Class 4 | 7078 | 688 | 1065 | 109 | (8255) | (838) | (112) | (41) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**103313** | **10313** | $**30830** | **3115** | $**(364241)** | **(34935)** | $**(230098)** | **(21507)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $129119 | 10361 | $44414 | 3661 | $(305638) | (24399) | $(132105) | (10377) |
| &nbsp;&nbsp;&nbsp;Class 1A | 1155 | 95 | 40 | 3 | (261) | (21) | 934 | 77 |
| &nbsp;&nbsp;&nbsp;Class 2 | 83201 | 6733 | 44570 | 3700 | (58585) | (4813) | 69186 | 5620 |
| &nbsp;&nbsp;&nbsp;Class 4 | 19357 | 1604 | 2457 | 206 | (11624) | (951) | 10190 | 859 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**232832** | **18793** | $**91481** | **7570** | $**(376108)** | **(30184)** | $**(51795)** | **(3821)** |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 343

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br>increase** | **Net (decrease)<br>increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $29406 | 3042 | $17917 | 2062 | $(58971) | (6116) | $(11648) | (1012) |
| &nbsp;&nbsp;&nbsp;Class 1A | 362 | 39 | 100 | 11 | (426) | (45) | 36 | 5 |
| &nbsp;&nbsp;&nbsp;Class 2 | 7171 | 758 | 42707 | 5019 | (98679) | (10782) | (48801) | (5005) |
| &nbsp;&nbsp;&nbsp;Class 3 | 432 | 46 | 695 | 79 | (1385) | (149) | (258) | (24) |
| &nbsp;&nbsp;&nbsp;Class 4 | 65309 | 6490 | 5827 | 619 | (70275) | (6997) | 861 | 112 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**102680** | **10375** | $**67246** | **7790** | $**(229736)** | **(24089)** | $**(59810)** | **(5924)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $160559 | 15547 | $10757 | 1060 | $(19514) | (1906) | $151802 | 14701 |
| &nbsp;&nbsp;&nbsp;Class 1A | 915 | 89 | 59 | 5 | (548) | (53) | 426 | 41 |
| &nbsp;&nbsp;&nbsp;Class 2 | 20019 | 2003 | 28636 | 2874 | (66675) | (6630) | (18020) | (1753) |
| &nbsp;&nbsp;&nbsp;Class 3 | 908 | 88 | 429 | 42 | (1328) | (129) | 9 | 1 |
| &nbsp;&nbsp;&nbsp;Class 4 | 143656 | 13002 | 3238 | 295 | (128886) | (11648) | 18008 | 1649 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**326057** | **30729** | $**43119** | **4276** | $**(216951)** | **(20366)** | $**152225** | **14639** |
| **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br>distributions** | **Reinvestments of<br>distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br>increase** | **Net (decrease)<br>increase** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class 1 | $784 | 78 | $15 | 2 | $(229165) | (21726) | $(228366) | (21646) |
| &nbsp;&nbsp;&nbsp;Class 1A | 662 | 67 | 37 | 4 | (1033) | (103) | (334) | (32) |
| &nbsp;&nbsp;&nbsp;Class 2 | 3214 | 326 | 995 | 103 | (9402) | (951) | (5193) | (522) |
| &nbsp;&nbsp;&nbsp;Class 4 | 10671 | 1091 | 746 | 78 | (9016) | (920) | 2401 | 249 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**15331** | **1562** | $**1793** | **187** | $**(248616)** | **(23700)** | $**(231492)** | **(21951)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class 1 | $35679 | 3267 | $9382 | 880 | $(27270) | (2517) | $17791 | 1630 |
| &nbsp;&nbsp;&nbsp;Class 1A | 1498 | 139 | 57 | 5 | (436) | (40) | 1119 | 104 |
| &nbsp;&nbsp;&nbsp;Class 2 | 6415 | 588 | 2232 | 210 | (5928) | (547) | 2719 | 251 |
| &nbsp;&nbsp;&nbsp;Class 4 | 11056 | 1029 | 1486 | 142 | (4892) | (457) | 7650 | 714 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**54648** | **5023** | $**13157** | **1237** | $**(38526)** | **(3561)** | $**29279** | **2699** |

---

Refer to the end of the tables for footnotes.

344 American Funds Insurance Series

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | | |  | | |  | | | | |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** |  | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | | **Shares** | **Shares** | | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $33573 | 2975 | $348 |  |  | 31 |  | $(20904) | (1853) | $13017 | 1153 |
| &nbsp;&nbsp;&nbsp;Class 1A |  |  |  | <sup>†</sup> |  |  | <sup>†</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2 | 117586 | 10755 | 1569 |  |  | 143 |  | (68709) | (6275) | 50446 | 4623 |
| &nbsp;&nbsp;&nbsp;Class 3 | 735 | 67 | 26 |  |  | 2 |  | (1082) | (97) | (321) | (28) |
| &nbsp;&nbsp;&nbsp;Class 4 | 84873 | 7721 | 293 |  |  | 27 |  | (51358) | (4671) | 33808 | 3077 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**236767** | **21518** | $**2236** |  |  | **203** |  | $**(142053)** | **(12896)** | $**96950** | **8825** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $16242 | 1439 | $— |  |  |  |  | $(22707) | (2011) | $(6465) | (572) |
| &nbsp;&nbsp;&nbsp;Class 1A |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2 | 86233 | 7864 |  |  |  |  |  | (127622) | (11640) | (41389) | (3776) |
| &nbsp;&nbsp;&nbsp;Class 3 | 1253 | 113 |  |  |  |  |  | (915) | (83) | 338 | 30 |
| &nbsp;&nbsp;&nbsp;Class 4 | 35704 | 3232 |  |  |  |  |  | (29389) | (2660) | 6315 | 572 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**139432** | **12648** | $**—** |  |  | **—** |  | $**(180633)** | **(16394)** | $**(41201** | **(3746** |
| **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** |  |  |  |  |  |  |
|  | **Sales\*** | **Sales\*** | **Reinvestments of <br> distributions** | **Reinvestments of <br> distributions** | **Reinvestments of <br> distributions** | **Reinvestments of <br> distributions** |  | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| **Share class** | **Amount** | **Shares** | **Amount** |  | **Shares** | **Shares** |  | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $69422 | 6446 | $10134 |  |  | 987 |  | $(316401) | (27982) | $(236845) | (20549) |
| &nbsp;&nbsp;&nbsp;Class 1A | 2902 | 273 | 153 |  |  | 15 |  | (3237) | (300) | (182) | (12) |
| &nbsp;&nbsp;&nbsp;Class 2 | 43941 | 4115 | 42631 |  |  | 4200 |  | (233844) | (21667) | (147272) | (13352) |
| &nbsp;&nbsp;&nbsp;Class 3 | 308 | 28 | 292 |  |  | 28 |  | (2508) | (236) | (1908) | (180) |
| &nbsp;&nbsp;&nbsp;Class 4 | 67334 | 6331 | 7040 |  |  | 695 |  | (90440) | (8406) | (16066 | (1380 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**183907** | **17193** | $**60250** |  |  | **5925** |  | $**(646430)** | **(58591)** | $**(402273** | **(35473** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 | $213039 | 17786 | $38963 |  |  | 3337 |  | $(115497) | (9263) | $136505 | 11860 |
| &nbsp;&nbsp;&nbsp;Class 1A | 4388 | 354 | 518 |  |  | 44 |  | (3192) | (265) | 1714 | 133 |
| &nbsp;&nbsp;&nbsp;Class 2 | 91122 | 7303 | 144267 |  |  | 12514 |  | (129818) | (10810) | 105571 | 9007 |
| &nbsp;&nbsp;&nbsp;Class 3 | 1023 | 86 | 948 |  |  | 81 |  | (1549) | (126) | 422 | 41 |
| &nbsp;&nbsp;&nbsp;Class 4 | 87885 | 7227 | 23653 |  |  | 2055 |  | (118823) | (9719) | (7285 | (437 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**397457** | **32756** | $**208349** |  |  | **18031** |  | $**(368879)** | **(30183)** | $**236927** | **20604** |
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** |  |  |  |  |  |  |  |  |  |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** |  | **Repurchases\*** | **Repurchases\*** | **Net increase <br> (decrease)** | **Net increase <br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** |  | **Shares** | **Shares** |  | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 | $1679 | 122 | $1796 |  |  | 147 |  | $(2034) | (134) | $1441 | 135 |
| &nbsp;&nbsp;&nbsp;Class P2 | 37760 | 2684 | 88450 |  |  | 7291 |  | (30630) | (2253) | 95580 | 7722 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**39439** | **2806** | $**90246** |  |  | **7438** |  | $**(32664)** | **(2387)** | $**97021** | **7857** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 | $3593 | 199 | $515 |  |  | 30 |  | $(3079) | (172) | $1029 | 57 |
| &nbsp;&nbsp;&nbsp;Class P2 | 39055 | 2202 | 26869 |  |  | 1558 |  | (78851) | (4405) | (12927 | (645 |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**42648** | **2401** | $**27384** |  |  | **1588** |  | $**(81930)** | **(4577)** | $**(11898** | **(588** |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 345

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class P1 | $578 | 62 | $69 | 8 | $(323) | (37) | $324 | 33 |
| &nbsp;&nbsp;&nbsp;Class P2 | 5403 | 564 | 4206 | 470 | (15947) | (1788) | (6338) | (754) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**5981** | **626** | $**4275** | **478** | $**(16270)** | **(1825)** | $**(6014)** | **(721)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class P1 | $887 | 80 | $14 | 1 | $(531) | (48) | $370 | 33 |
| &nbsp;&nbsp;&nbsp;Class P2 | 12803 | 1181 | 917 | 80 | (14744) | (1323) | (1024) | (62) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**13690** | **1261** | $**931** | **81** | $**(15275)** | **(1371)** | $**(654)** | **(29)** |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase <br> (decrease)** | **Net increase <br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class P1 | $1026 | 86 | $127 | 11 | $(498) | (43) | $655 | 54 |
| &nbsp;&nbsp;&nbsp;Class P2 | 22662 | 1947 | 14544 | 1281 | (39363) | (3307) | (2157) | (79) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**23688** | **2033** | $**14671** | **1292** | $**(39861)** | **(3350)** | $**(1502)** | **(25)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class P1 | $971 | 80 | $40 | 3 | $(343) | (29) | $668 | 54 |
| &nbsp;&nbsp;&nbsp;Class P2 | 9743 | 800 | 5979 | 487 | (51273) | (4254) | (35551) | (2967) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**10714** | **880** | $**6019** | **490** | $**(51616)** | **(4283)** | $**(34883)** | **(2913)** |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net decrease** | **Net decrease** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class P1 | $49558 | 3678 | $87716 | 6731 | $(157932) | (11880) | $(20658) | (1471) |
| &nbsp;&nbsp;&nbsp;Class P2 | 13539 | 1010 | 12087 | 932 | (28848) | (2135) | (3222) | (193) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**63097** | **4688** | $**99803** | **7663** | $**(186780)** | **(14015)** | $**(23880)** | **(1664)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class P1 | $64192 | 4303 | $60096 | 4023 | $(175764) | (11680) | $(51476) | (3354) |
| &nbsp;&nbsp;&nbsp;Class P2 | 14838 | 1008 | 8072 | 546 | (35819) | (2404) | (12909) | (850) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**79030** | **5311** | $**68168** | **4569** | $**(211583)** | **(14084)** | $**(64385)** | **(4204)** |

---

Refer to the end of the tables for footnotes.

346 American Funds Insurance Series

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |
|  | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| **Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
| &nbsp;&nbsp;&nbsp;Class P1 | $1649 | 120 | $430 | 34 | $(675) | (52) | $1404 | 102 |
| &nbsp;&nbsp;&nbsp;Class P2 | 38665 | 2998 | 138534 | 11152 | (283108) | (22026) | (105909) | (7876) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**40314** | **3118** | $**138964** | **11186** | $**(283783)** | **(22078)** | $**(104505)** | **(7774)** |
| **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** | **Year ended December 31, 2021** |
| &nbsp;&nbsp;&nbsp;Class P1 | $2097 | 141 | $114 | 8 | $(899) | (60) | $1312 | 89 |
| &nbsp;&nbsp;&nbsp;Class P2 | 57616 | 4016 | 38113 | 2632 | (351072) | (24507) | (255343) | (17859) |
| &nbsp;&nbsp;&nbsp;**Total net increase (decrease)** | $**59713** | **4157** | $**38227** | **2640** | $**(351971)** | **(24567)** | $**(254031)** | **(17770)** |

---

---

| | |
|:---|:---|
| \* | Includes exchanges between share classes of the fund. |
| <sup>†</sup> | Amount less than one thousand. |

---

**11. Ownership concentration**

At December 31, 2022, American Funds Insurance Series - Portfolio Series - Managed Risk Growth and Income Portfolio held 18% and 17% of the outstanding shares of American Funds Insurance Series - Capital World Growth and Income Fund and American Funds Insurance Series - Capital Income Builder, respectively. In addition, American Funds Insurance Series - Portfolio Series - Managed Risk Global Allocation Portfolio held 25% of the outstanding shares of American Funds Insurance Series - American Funds Global Balanced Fund.

**12. Investment transactions and other disclosures**

The following tables present additional information for each fund for the year ended December 31, 2022 (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Global<br> Growth<br> Fund** | **Global<br> Small<br> Capitalization<br> Fund** | | **Growth<br> Fund** | **International<br> Fund** | **New<br> World<br> Fund** | **Washington<br> Mutual<br> Investors<br> Fund** |
| Purchases of investment securities\* | $2020468 | $1224731 |  | $10017065 | $2810699 | $1260720 | $2833147 |
| Sales of investment securities\* | 2146215 | 1218842 |  | 10662318 | 2867081 | 1624730 | 3802409 |
| Non-U.S. taxes paid on dividend income | 6202 | 2117 |  | 9817 | 9312 | 3655 | 1964 |
| Non-U.S. taxes paid on interest income |  |  |  |  |  | 5 |  |
| Non-U.S. taxes paid on realized gains | 1408 | 5338 |  |  | 8023 | 4440 |  |
| Non-U.S. taxes provided on unrealized appreciation | 5103 | 9184 |  |  | 25364 | 8906 |  |
|  | **Capital<br>World<br>Growth<br>and Income<br>Fund** | **Growth-**<br> **Income**<br> **Fund** |  | **International**<br> **Growth**<br> **and Income**<br> **Fund** | **Capital**<br> **Income**<br> **Builder** | **Asset**<br> **Allocation**<br> **Fund** | **American**<br> **Funds**<br> **Global**<br> **Balanced**<br> **Fund** |
| Purchases of investment securities\* | $749437 | $8339283 |  | $142556 | $1242326 | $27267262 | $392565 |
| Sales of investment securities\* | 985479 | 12308349 |  | 139199 | 1167109 | 28617726 | 407112 |
| Non-U.S. taxes paid on dividend income | 2593 | 9673 |  | 744 | 1500 | 9616 | 372 |
| Non-U.S. taxes paid on interest income |  |  |  |  |  |  | 11 |
| Non-U.S. taxes paid on realized gains | 173 |  | <sup>†</sup> | 51 | 46 |  | 43 |
| Non-U.S. taxes provided on unrealized appreciation | 568 |  |  | 58 | 349 | 2592 | 83 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 347

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **The Bond<br> Fund<br> of America** | **Capital<br> World Bond<br> Fund** | **American<br> High-Income<br> Trust** | **American<br> Funds<br> Mortgage<br> Fund** | **Ultra-Short<br> Bond<br> Fund** | **U.S.<br> Government<br> Securities<br> Fund** |
| Purchases of investment securities\* | $38975446 | $1910865 | $293093 | $1134922 | $— | $9478478 |
| Sales of investment securities\* | 37928493 | 2233596 | 378913 | 1243904 |  | 9100700 |
| Non-U.S. taxes paid on interest income | 22 | 135 |  |  |  |  |
| Non-U.S. taxes paid on realized gains |  | 333 |  |  |  |  |
| Non-U.S. taxes provided on unrealized appreciation |  | 117 |  |  |  |  |
|  | **Managed**<br> **Risk**<br> **Growth**<br> **Fund** | **Managed**<br> **Risk**<br> **International**<br> **Fund** | **Managed**<br> **Risk**<br> **Washington**<br> **Mutual**<br> **Investors**<br> **Fund** | **Managed**<br> **Risk**<br> **Growth-**<br> **Income**<br> **Fund** | **Managed**<br> **Risk**<br> **Asset**<br> **Allocation**<br> **Fund** |  |
| Purchases of investment securities\* | $528842 | $121812 | $269212 | $1486050 | $1104342 |  |
| Sales of investment securities\* | 453254 | 107992 | 219710 | 1431021 | 1086607 |  |

---

---

| | |
|:---|:---|
| \* | Excludes short-term securities and U.S. government obligations, if any. |
| <sup>†</sup> | Amount less than one thousand. |

---

348 American Funds Insurance Series

Financial highlights

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Global Growth Fund** | **Global Growth Fund** | | | | | | | | | | | | |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $45.46 | $.34 | $(11.34) | $(11.00) | $(.31) | $(3.97) | $(4.28) | $30.18 | (24.54)% | $3104 | .53% | .46% | 1.01% |
| 12/31/2021 | 41.16 | .25 | 6.48 | 6.73 | (.26) | (2.17) | (2.43) | 45.46 | 16.72 | 4270 | .55 | .54 | .56 |
| 12/31/2020 | 32.57 | .20 | 9.56 | 9.76 | (.21) | (.96) | (1.17) | 41.16 | 30.79 | 3309 | .56 | .56 | .59 |
| 12/31/2019 | 25.74 | .32 | 8.60 | 8.92 | (.41) | (1.68) | (2.09) | 32.57 | 35.61 | 2515 | .56 | .56 | 1.07 |
| 12/31/2018 | 30.51 | .29 | (2.65) | (2.36) | (.28) | (2.13) | (2.41) | 25.74 | (8.81) | 1942 | .55 | .55 | .98 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 45.28 | .26 | (11.31) | (11.05) | (.22) | (3.97) | (4.19) | 30.04 | (24.73) | 14 | .78 | .71 | .78 |
| 12/31/2021 | 41.02 | .14 | 6.46 | 6.60 | (.17) | (2.17) | (2.34) | 45.28 | 16.45 | 18 | .80 | .79 | .33 |
| 12/31/2020 | 32.47 | .12 | 9.52 | 9.64 | (.13) | (.96) | (1.09) | 41.02 | 30.49 | 12 | .81 | .81 | .34 |
| 12/31/2019 | 25.69 | .25 | 8.55 | 8.80 | (.34) | (1.68) | (2.02) | 32.47 | 35.22 | 8 | .81 | .81 | .83 |
| 12/31/2018 | 30.46 | .23 | (2.66) | (2.43) | (.21) | (2.13) | (2.34) | 25.69 | (9.02) | 5 | .80 | .80 | .77 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 44.94 | .25 | (11.21) | (10.96) | (.22) | (3.97) | (4.19) | 29.79 | (24.74) | 3234 | .78 | .71 | .76 |
| 12/31/2021 | 40.72 | .13 | 6.41 | 6.54 | (.15) | (2.17) | (2.32) | 44.94 | 16.42 | 4559 | .80 | .80 | .30 |
| 12/31/2020 | 32.24 | .12 | 9.44 | 9.56 | (.12) | (.96) | (1.08) | 40.72 | 30.47 | 4387 | .81 | .81 | .34 |
| 12/31/2019 | 25.50 | .24 | 8.51 | 8.75 | (.33) | (1.68) | (2.01) | 32.24 | 35.28 | 3895 | .81 | .81 | .83 |
| 12/31/2018 | 30.24 | .22 | (2.63) | (2.41) | (.20) | (2.13) | (2.33) | 25.50 | (9.04) | 3306 | .80 | .80 | .73 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 44.57 | .17 | (11.12) | (10.95) | (.14) | (3.97) | (4.11) | 29.51 | (24.92) | 584 | 1.03 | .96 | .52 |
| 12/31/2021 | 40.45 | .03 | 6.35 | 6.38 | (.09) | (2.17) | (2.26) | 44.57 | 16.14 | 744 | 1.05 | 1.04 | .07 |
| 12/31/2020 | 32.05 | .03 | 9.38 | 9.41 | (.05) | (.96) | (1.01) | 40.45 | 30.17 | 533 | 1.06 | 1.06 | .09 |
| 12/31/2019 | 25.39 | .17 | 8.45 | 8.62 | (.28) | (1.68) | (1.96) | 32.05 | 34.87 | 382 | 1.06 | 1.06 | .57 |
| 12/31/2018 | 30.13 | .14 | (2.60) | (2.46) | (.15) | (2.13) | (2.28) | 25.39 | (9.24) | 249 | 1.05 | 1.05 | .47 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 349

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income<br> (loss)** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> (loss)<br> to average<br> net assets<sup>2</sup>** |
| **Global Small Capitalization Fund** | **Global Small Capitalization Fund** | **Global Small Capitalization Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $34.17 | $.05 | $(9.50) | $(9.45) | $— | $(8.50) | $(8.50) | $16.22 | (29.37)% | $916 | .72% | .69% | .24% |
| 12/31/2021 | 32.64 | (.02) | 2.32 | 2.30 |  | (.77) | (.77) | 34.17 | 6.98 | 1707 | .74 | .74 | (.07) |
| 12/31/2020 | 26.80 | (.01) | 7.49 | 7.48 | (.05) | (1.59) | (1.64) | 32.64 | 30.04 | 2391 | .75 | .75 | (.06) |
| 12/31/2019 | 21.75 | .12 | 6.61 | 6.73 | (.10) | (1.58) | (1.68) | 26.80 | 31.84 | 2050 | .75 | .75 | .48 |
| 12/31/2018 | 25.38 | .11 | (2.51) | (2.40) | (.09) | (1.14) | (1.23) | 21.75 | (10.31) | 1453 | .73 | .73 | .42 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 33.93 | —<sup>4</sup> | (9.43) | (9.43) |  | (8.50) | (8.50) | 16.00 | (29.54) | 4 | .97 | .94 | —<sup>5</sup> |
| 12/31/2021 | 32.49 | (.07) | 2.28 | 2.21 |  | (.77) | (.77) | 33.93 | 6.73 | 5 | .99 | .99 | (.21) |
| 12/31/2020 | 26.74 | (.09) | 7.48 | 7.39 | (.05) | (1.59) | (1.64) | 32.49 | 29.72 | 1 | .99 | .99 | (.33) |
| 12/31/2019 | 21.71 | .05 | 6.61 | 6.66 | (.05) | (1.58) | (1.63) | 26.74 | 31.56 | 1 | .99 | .99 | .22 |
| 12/31/2018 | 25.36 | .05 | (2.52) | (2.47) | (.04) | (1.14) | (1.18) | 21.71 | (10.56) | —<sup>6</sup> | .98 | .98 | .21 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 32.94 | —<sup>4</sup> | (9.14) | (9.14) |  | (8.50) | (8.50) | 15.30 | (29.55) | 1762 | .97 | .94 | —<sup>5</sup> |
| 12/31/2021 | 31.56 | (.10) | 2.25 | 2.15 |  | (.77) | (.77) | 32.94 | 6.74 | 2521 | .99 | .99 | (.30) |
| 12/31/2020 | 26.02 | (.08) | 7.25 | 7.17 | (.04) | (1.59) | (1.63) | 31.56 | 29.72 | 2653 | 1.00 | 1.00 | (.31) |
| 12/31/2019 | 21.16 | .05 | 6.43 | 6.48 | (.04) | (1.58) | (1.62) | 26.02 | 31.52 | 2363 | 1.00 | 1.00 | .22 |
| 12/31/2018 | 24.72 | .04 | (2.44) | (2.40) | (.02) | (1.14) | (1.16) | 21.16 | (10.55) | 2056 | .98 | .98 | .17 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 32.96 | (.05) | (9.13) | (9.18) |  | (8.50) | (8.50) | 15.28 | (29.69) | 261 | 1.22 | 1.19 | (.25) |
| 12/31/2021 | 31.67 | (.18) | 2.24 | 2.06 |  | (.77) | (.77) | 32.96 | 6.43 | 344 | 1.24 | 1.24 | (.53) |
| 12/31/2020 | 26.16 | (.14) | 7.27 | 7.13 | (.03) | (1.59) | (1.62) | 31.67 | 29.39 | 268 | 1.25 | 1.25 | (.56) |
| 12/31/2019 | 21.28 | (.01) | 6.47 | 6.46 | —<sup>4</sup> | (1.58) | (1.58) | 26.16 | 31.24 | 206 | 1.25 | 1.25 | (.04) |
| 12/31/2018 | 24.91 | (.02) | (2.46) | (2.48) | (.01) | (1.14) | (1.15) | 21.28 | (10.80) | 146 | 1.24 | 1.24 | (.08) |

---

Refer to the end of the tables for footnotes.

350 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income<br> (loss)** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses<br> to average<br> net assets<sup>3</sup>** |<br>**Ratio of<br> net income<br> (loss)<br> to average<br> net assets** |
| **Growth Fund** | **Growth Fund** | | | | | | | | | | | |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $127.58 | $.58 | $(37.03) | $(36.45) | $(.53) | $(14.31) | $(14.84) | $76.29 | (29.75)% | $13660 | .35% | .64% |
| 12/31/2021 | 120.22 | .46 | 24.29 | 24.75 | (.58) | (16.81) | (17.39) | 127.58 | 22.30 | 19783 | .34 | .37 |
| 12/31/2020 | 81.22 | .43 | 41.28 | 41.71 | (.53) | (2.18) | (2.71) | 120.22 | 52.45 | 15644 | .35 | .46 |
| 12/31/2019 | 69.96 | .83 | 19.63 | 20.46 | (.76) | (8.44) | (9.20) | 81.22 | 31.11 | 10841 | .35 | 1.09 |
| 12/31/2018 | 77.85 | .64 | .25 | .89 | (.54) | (8.24) | (8.78) | 69.96 | (.01) | 8474 | .34 | .81 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 126.70 | .39 | (36.79) | (36.40) | (.38) | (14.31) | (14.69) | 75.61 | (29.93) | 187 | .60 | .45 |
| 12/31/2021 | 119.59 | .16 | 24.11 | 24.27 | (.35) | (16.81) | (17.16) | 126.70 | 21.97 | 121 | .59 | .13 |
| 12/31/2020 | 80.92 | .20 | 41.05 | 41.25 | (.40) | (2.18) | (2.58) | 119.59 | 52.07 | 60 | .60 | .21 |
| 12/31/2019 | 69.77 | .65 | 19.55 | 20.20 | (.61) | (8.44) | (9.05) | 80.92 | 30.79 | 18 | .60 | .85 |
| 12/31/2018 | 77.74 | .47 | .24 | .71 | (.44) | (8.24) | (8.68) | 69.77 | (.26) | 10 | .59 | .60 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 126.28 | .35 | (36.62) | (36.27) | (.29) | (14.31) | (14.60) | 75.41 | (29.94) | 14452 | .60 | .38 |
| 12/31/2021 | 119.18 | .15 | 24.03 | 24.18 | (.27) | (16.81) | (17.08) | 126.28 | 21.97 | 21986 | .59 | .12 |
| 12/31/2020 | 80.57 | .19 | 40.89 | 41.08 | (.29) | (2.18) | (2.47) | 119.18 | 52.10 | 20594 | .60 | .21 |
| 12/31/2019 | 69.48 | .63 | 19.47 | 20.10 | (.57) | (8.44) | (9.01) | 80.57 | 30.77 | 15885 | .60 | .83 |
| 12/31/2018 | 77.35 | .44 | .27 | .71 | (.34) | (8.24) | (8.58) | 69.48 | (.25) | 13701 | .59 | .55 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 128.68 | .42 | (37.35) | (36.93) | (.35) | (14.31) | (14.66) | 77.09 | (29.89) | 188 | .53 | .45 |
| 12/31/2021 | 121.13 | .24 | 24.47 | 24.71 | (.35) | (16.81) | (17.16) | 128.68 | 22.07 | 302 | .52 | .19 |
| 12/31/2020 | 81.84 | .26 | 41.56 | 41.82 | (.35) | (2.18) | (2.53) | 121.13 | 52.20 | 279 | .53 | .28 |
| 12/31/2019 | 70.44 | .69 | 19.77 | 20.46 | (.62) | (8.44) | (9.06) | 81.84 | 30.86 | 213 | .53 | .90 |
| 12/31/2018 | 78.32 | .50 | .26 | .76 | (.40) | (8.24) | (8.64) | 70.44 | (.18) | 187 | .52 | .62 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 123.79 | .12 | (35.87) | (35.75) | (.09) | (14.31) | (14.40) | 73.64 | (30.11) | 2409 | .85 | .14 |
| 12/31/2021 | 117.24 | (.15) | 23.59 | 23.44 | (.08) | (16.81) | (16.89) | 123.79 | 21.69 | 3214 | .84 | (.13) |
| 12/31/2020 | 79.41 | (.04) | 40.24 | 40.20 | (.19) | (2.18) | (2.37) | 117.24 | 51.71 | 2347 | .85 | (.04) |
| 12/31/2019 | 68.64 | .44 | 19.19 | 19.63 | (.42) | (8.44) | (8.86) | 79.41 | 30.44 | 1513 | .85 | .59 |
| 12/31/2018 | 76.56 | .24 | .28 | .52 | (.20) | (8.24) | (8.44) | 68.64 | (.50) | 1076 | .84 | .31 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 351

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses<br> to average<br> net assets<sup>3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **International Fund** | **International Fund** | | | | | | | | | | | |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $22.70 | $.34 | $(4.79) | $(4.45) | $(.34) | $(2.60) | $(2.94) | $15.31 | (20.57)% | $3157 | .54% | 1.95% |
| 12/31/2021 | 23.64 | .38 | (.67) | (.29) | (.65) |  | (.65) | 22.70 | (1.23) | 4747 | .55 | 1.57 |
| 12/31/2020 | 20.86 | .14 | 2.82 | 2.96 | (.18) |  | (.18) | 23.64 | 14.28 | 5652 | .55 | .71 |
| 12/31/2019 | 17.66 | .30 | 3.74 | 4.04 | (.34) | (.50) | (.84) | 20.86 | 23.21 | 5353 | .54 | 1.54 |
| 12/31/2018 | 21.71 | .34 | (2.97) | (2.63) | (.40) | (1.02) | (1.42) | 17.66 | (12.94) | 4811 | .53 | 1.62 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 22.61 | .30 | (4.78) | (4.48) | (.30) | (2.60) | (2.90) | 15.23 | (20.80) | 10 | .79 | 1.73 |
| 12/31/2021 | 23.55 | .33 | (.67) | (.34) | (.60) |  | (.60) | 22.61 | (1.47) | 12 | .80 | 1.39 |
| 12/31/2020 | 20.80 | .08 | 2.81 | 2.89 | (.14) |  | (.14) | 23.55 | 13.96 | 10 | .80 | .43 |
| 12/31/2019 | 17.62 | .25 | 3.72 | 3.97 | (.29) | (.50) | (.79) | 20.80 | 22.90 | 7 | .79 | 1.27 |
| 12/31/2018 | 21.67 | .27 | (2.93) | (2.66) | (.37) | (1.02) | (1.39) | 17.62 | (13.11) | 5 | .78 | 1.32 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 22.60 | .29 | (4.76) | (4.47) | (.30) | (2.60) | (2.90) | 15.23 | (20.79) | 3164 | .79 | 1.71 |
| 12/31/2021 | 23.54 | .33 | (.68) | (.35) | (.59) |  | (.59) | 22.60 | (1.49) | 4190 | .80 | 1.35 |
| 12/31/2020 | 20.78 | .09 | 2.80 | 2.89 | (.13) |  | (.13) | 23.54 | 13.97 | 4481 | .80 | .46 |
| 12/31/2019 | 17.60 | .25 | 3.72 | 3.97 | (.29) | (.50) | (.79) | 20.78 | 22.88 | 4311 | .79 | 1.29 |
| 12/31/2018 | 21.63 | .29 | (2.95) | (2.66) | (.35) | (1.02) | (1.37) | 17.60 | (13.13) | 3875 | .78 | 1.40 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 22.76 | .31 | (4.81) | (4.50) | (.31) | (2.60) | (2.91) | 15.35 | (20.76) | 16 | .72 | 1.78 |
| 12/31/2021 | 23.69 | .34 | (.67) | (.33) | (.60) |  | (.60) | 22.76 | (1.39) | 21 | .73 | 1.41 |
| 12/31/2020 | 20.92 | .10 | 2.81 | 2.91 | (.14) |  | (.14) | 23.69 | 14.00 | 25 | .73 | .53 |
| 12/31/2019 | 17.70 | .27 | 3.75 | 4.02 | (.30) | (.50) | (.80) | 20.92 | 23.05 | 25 | .72 | 1.37 |
| 12/31/2018 | 21.75 | .31 | (2.98) | (2.67) | (.36) | (1.02) | (1.38) | 17.70 | (13.10) | 24 | .71 | 1.48 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 22.31 | .25 | (4.71) | (4.46) | (.26) | (2.60) | (2.86) | 14.99 | (21.02) | 373 | 1.04 | 1.47 |
| 12/31/2021 | 23.25 | .27 | (.67) | (.40) | (.54) |  | (.54) | 22.31 | (1.71) | 459 | 1.05 | 1.13 |
| 12/31/2020 | 20.54 | .04 | 2.76 | 2.80 | (.09) |  | (.09) | 23.25 | 13.66 | 423 | 1.05 | .21 |
| 12/31/2019 | 17.40 | .20 | 3.69 | 3.89 | (.25) | (.50) | (.75) | 20.54 | 22.67 | 379 | 1.04 | 1.03 |
| 12/31/2018 | 21.42 | .23 | (2.93) | (2.70) | (.30) | (1.02) | (1.32) | 17.40 | (13.41) | 295 | 1.03 | 1.13 |

---

Refer to the end of the tables for footnotes.

352 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br>beginning <br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **New World Fund** | **New World Fund** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $31.83 | $.37 | $(7.17) | $(6.80) | $(.39) | $(2.34) | $(2.73) | $22.30 | (21.86)% | $1610 | .68% | .57% | 1.48% |
| 12/31/2021 | 31.59 | .29 | 1.38 | 1.67 | (.36) | (1.07) | (1.43) | 31.83 | 5.16 | 2443 | .74 | .56 | .88 |
| 12/31/2020 | 25.84 | .15 | 5.93 | 6.08 | (.06) | (.27) | (.33) | 31.59 | 23.89 | 2309 | .76 | .64 | .58 |
| 12/31/2019 | 20.98 | .28 | 5.79 | 6.07 | (.29) | (.92) | (1.21) | 25.84 | 29.47 | 2129 | .76 | .76 | 1.18 |
| 12/31/2018 | 25.30 | .27 | (3.65) | (3.38) | (.27) | (.67) | (.94) | 20.98 | (13.83) | 1702 | .77 | .77 | 1.11 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 31.70 | .30 | (7.15) | (6.85) | (.32) | (2.34) | (2.66) | 22.19 | (22.09) | 9 | .93 | .82 | 1.24 |
| 12/31/2021 | 31.43 | .17 | 1.41 | 1.58 | (.24) | (1.07) | (1.31) | 31.70 | 4.90 | 12 | .99 | .81 | .54 |
| 12/31/2020 | 25.74 | .07 | 5.92 | 5.99 | (.03) | (.27) | (.30) | 31.43 | 23.63 | 18 | 1.01 | .87 | .26 |
| 12/31/2019 | 20.92 | .22 | 5.76 | 5.98 | (.24) | (.92) | (1.16) | 25.74 | 29.11 | 4 | 1.01 | 1.01 | .92 |
| 12/31/2018 | 25.25 | .21 | (3.64) | (3.43) | (.23) | (.67) | (.90) | 20.92 | (14.02) | 2 | 1.02 | 1.02 | .91 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 31.48 | .30 | (7.10) | (6.80) | (.32) | (2.34) | (2.66) | 22.02 | (22.10) | 764 | .93 | .82 | 1.24 |
| 12/31/2021 | 31.25 | .20 | 1.38 | 1.58 | (.28) | (1.07) | (1.35) | 31.48 | 4.92 | 1086 | .99 | .81 | .63 |
| 12/31/2020 | 25.59 | .08 | 5.87 | 5.95 | (.02) | (.27) | (.29) | 31.25 | 23.58 | 1109 | 1.01 | .89 | .34 |
| 12/31/2019 | 20.79 | .22 | 5.73 | 5.95 | (.23) | (.92) | (1.15) | 25.59 | 29.15 | 981 | 1.01 | 1.01 | .93 |
| 12/31/2018 | 25.07 | .20 | (3.61) | (3.41) | (.20) | (.67) | (.87) | 20.79 | (14.04) | 843 | 1.02 | 1.02 | .85 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 31.24 | .24 | (7.03) | (6.79) | (.27) | (2.34) | (2.61) | 21.84 | (22.25) | 701 | 1.18 | 1.07 | .99 |
| 12/31/2021 | 31.04 | .12 | 1.36 | 1.48 | (.21) | (1.07) | (1.28) | 31.24 | 4.63 | 906 | 1.24 | 1.06 | .38 |
| 12/31/2020 | 25.47 | .02 | 5.83 | 5.85 | (.01) | (.27) | (.28) | 31.04 | 23.29 | 807 | 1.26 | 1.14 | .08 |
| 12/31/2019 | 20.71 | .16 | 5.70 | 5.86 | (.18) | (.92) | (1.10) | 25.47 | 28.82 | 646 | 1.26 | 1.26 | .67 |
| 12/31/2018 | 24.99 | .14 | (3.59) | (3.45) | (.16) | (.67) | (.83) | 20.71 | (14.25) | 464 | 1.27 | 1.27 | .61 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 353

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** | **Washington Mutual Investors Fund** |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $18.09 | $.31 | $(1.69) | $(1.38) | $(.30) | $(3.72) | $(4.02) | $12.69 | (8.28)% | $5507 | .41% | .26% | 2.13% |
| 12/31/2021 | 14.35 | .29 | 3.73 | 4.02 | (.28) |  | (.28) | 18.09 | 28.12 | 6766 | .42 | .31 | 1.79 |
| 12/31/2020 | 13.56 | .25 | .95 | 1.20 | (.26) | (.15) | (.41) | 14.35 | 9.04 | 5684 | .43 | .43 | 2.00 |
| 12/31/2019 | 12.38 | .30 | 2.25 | 2.55 | (.30) | (1.07) | (1.37) | 13.56 | 21.66 | 5559 | .42 | .42 | 2.28 |
| 12/31/2018 | 14.96 | .31 | (1.44) | (1.13) | (.31) | (1.14) | (1.45) | 12.38 | (8.45) | 4810 | .41 | .41 | 2.13 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 17.96 | .27 | (1.67) | (1.40) | (.23) | (3.72) | (3.95) | 12.61 | (8.45) | 64 | .66 | .51 | 1.76 |
| 12/31/2021 | 14.28 | .27 | 3.67 | 3.94 | (.26) |  | (.26) | 17.96 | 27.70 | 169 | .67 | .53 | 1.62 |
| 12/31/2020 | 13.51 | .23 | .93 | 1.16 | (.24) | (.15) | (.39) | 14.28 | 8.79 | 25 | .67 | .67 | 1.78 |
| 12/31/2019 | 12.35 | .26 | 2.24 | 2.50 | (.27) | (1.07) | (1.34) | 13.51 | 21.35 | 9 | .67 | .67 | 2.03 |
| 12/31/2018 | 14.94 | .26 | (1.42) | (1.16) | (.29) | (1.14) | (1.43) | 12.35 | (8.67) | 3 | .66 | .66 | 1.84 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 17.83 | .26 | (1.65) | (1.39) | (.26) | (3.72) | (3.98) | 12.46 | (8.45) | 2775 | .66 | .51 | 1.88 |
| 12/31/2021 | 14.15 | .25 | 3.67 | 3.92 | (.24) |  | (.24) | 17.83 | 27.78 | 3426 | .67 | .56 | 1.54 |
| 12/31/2020 | 13.39 | .22 | .91 | 1.13 | (.22) | (.15) | (.37) | 14.15 | 8.68 | 3082 | .68 | .68 | 1.75 |
| 12/31/2019 | 12.24 | .26 | 2.22 | 2.48 | (.26) | (1.07) | (1.33) | 13.39 | 21.38 | 3093 | .67 | .67 | 2.03 |
| 12/31/2018 | 14.80 | .27 | (1.42) | (1.15) | (.27) | (1.14) | (1.41) | 12.24 | (8.66) | 2850 | .66 | .66 | 1.88 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 17.71 | .23 | (1.64) | (1.41) | (.24) | (3.72) | (3.96) | 12.34 | (8.69) | 1098 | .91 | .77 | 1.64 |
| 12/31/2021 | 14.06 | .21 | 3.65 | 3.86 | (.21) |  | (.21) | 17.71 | 27.51 | 1104 | .92 | .81 | 1.30 |
| 12/31/2020 | 13.31 | .19 | .91 | 1.10 | (.20) | (.15) | (.35) | 14.06 | 8.47 | 788 | .93 | .93 | 1.51 |
| 12/31/2019 | 12.19 | .23 | 2.20 | 2.43 | (.24) | (1.07) | (1.31) | 13.31 | 21.03 | 621 | .92 | .92 | 1.78 |
| 12/31/2018 | 14.77 | .23 | (1.42) | (1.19) | (.25) | (1.14) | (1.39) | 12.19 | (8.92) | 368 | .91 | .91 | 1.62 |

---

Refer to the end of the tables for footnotes.

354 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $18.42 | $.32 | $(3.28) | $(2.96) | $(.34) | $(3.45) | $(3.79) | $11.67 | (17.13)% | $548 | .57% | .41% | 2.36% |
| 12/31/2021 | 16.67 | .38 | 2.10 | 2.48 | (.33) | (.40) | (.73) | 18.42 | 15.03 | 812 | .63 | .47 | 2.14 |
| 12/31/2020 | 15.92 | .22 | 1.14 | 1.36 | (.23) | (.38) | (.61) | 16.67 | 9.03 | 657 | .66 | .66 | 1.49 |
| 12/31/2019 | 13.02 | .31 | 3.67 | 3.98 | (.32) | (.76) | (1.08) | 15.92 | 31.39 | 625 | .65 | .65 | 2.08 |
| 12/31/2018 | 15.81 | .29 | (1.62) | (1.33) | (.28) | (1.18) | (1.46) | 13.02 | (9.36) | 492 | .63 | .63 | 1.94 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 18.34 | .28 | (3.25) | (2.97) | (.31) | (3.45) | (3.76) | 11.61 | (17.29) | 6 | .82 | .66 | 2.13 |
| 12/31/2021 | 16.62 | .37 | 2.06 | 2.43 | (.31) | (.40) | (.71) | 18.34 | 14.71 | 7 | .88 | .70 | 2.08 |
| 12/31/2020 | 15.88 | .18 | 1.13 | 1.31 | (.19) | (.38) | (.57) | 16.62 | 8.78 | 2 | .90 | .90 | 1.23 |
| 12/31/2019 | 13.00 | .26 | 3.68 | 3.94 | (.30) | (.76) | (1.06) | 15.88 | 31.04 | 2 | .90 | .90 | 1.77 |
| 12/31/2018 | 15.81 | .26 | (1.63) | (1.37) | (.26) | (1.18) | (1.44) | 13.00 | (9.62) | 1 | .88 | .88 | 1.74 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 18.38 | .28 | (3.26) | (2.98) | (.31) | (3.45) | (3.76) | 11.64 | (17.33) | 983 | .82 | .66 | 2.11 |
| 12/31/2021 | 16.63 | .33 | 2.11 | 2.44 | (.29) | (.40) | (.69) | 18.38 | 14.78 | 1340 | .88 | .73 | 1.85 |
| 12/31/2020 | 15.89 | .18 | 1.13 | 1.31 | (.19) | (.38) | (.57) | 16.63 | 8.73 | 1349 | .91 | .91 | 1.23 |
| 12/31/2019 | 12.99 | .27 | 3.68 | 3.95 | (.29) | (.76) | (1.05) | 15.89 | 31.14 | 1366 | .90 | .90 | 1.84 |
| 12/31/2018 | 15.78 | .26 | (1.63) | (1.37) | (.24) | (1.18) | (1.42) | 12.99 | (9.63) | 1228 | .88 | .88 | 1.70 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 18.04 | .24 | (3.20) | (2.96) | (.28) | (3.45) | (3.73) | 11.35 | (17.57) | 188 | 1.07 | .91 | 1.86 |
| 12/31/2021 | 16.35 | .29 | 2.06 | 2.35 | (.26) | (.40) | (.66) | 18.04 | 14.46 | 225 | 1.13 | .97 | 1.65 |
| 12/31/2020 | 15.63 | .14 | 1.12 | 1.26 | (.16) | (.38) | (.54) | 16.35 | 8.55 | 166 | 1.16 | 1.16 | .97 |
| 12/31/2019 | 12.81 | .23 | 3.61 | 3.84 | (.26) | (.76) | (1.02) | 15.63 | 30.73 | 145 | 1.15 | 1.15 | 1.56 |
| 12/31/2018 | 15.60 | .21 | (1.60) | (1.39) | (.22) | (1.18) | (1.40) | 12.81 | (9.89) | 95 | 1.13 | 1.13 | 1.43 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 355

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and <br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses<br> to average<br> net assets<sup>3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Growth-Income Fund** | **Growth-Income Fund** | **Growth-Income Fund** |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $67.35 | $.85 | $(11.50) | $(10.65) | $(.83) | $(5.66) | $(6.49) | $50.21 | (16.28)% | $19692 | .29% | 1.54% |
| 12/31/2021 | 55.38 | .79 | 12.64 | 13.43 | (.86) | (.60) | (1.46) | 67.35 | 24.42 | 25507 | .29 | 1.28 |
| 12/31/2020 | 50.71 | .75 | 6.02 | 6.77 | (.80) | (1.30) | (2.10) | 55.38 | 13.81 | 22903 | .29 | 1.52 |
| 12/31/2019 | 45.39 | 1.00 | 10.40 | 11.40 | (.92) | (5.16) | (6.08) | 50.71 | 26.46 | 21057 | .29 | 2.05 |
| 12/31/2018 | 50.22 | .84 | (1.25) | (.41) | (.84) | (3.58) | (4.42) | 45.39 | (1.55) | 16783 | .28 | 1.65 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 67.02 | .71 | (11.44) | (10.73) | (.70) | (5.66) | (6.36) | 49.93 | (16.48) | 28 | .54 | 1.30 |
| 12/31/2021 | 55.16 | .65 | 12.55 | 13.20 | (.74) | (.60) | (1.34) | 67.02 | 24.08 | 32 | .53 | 1.04 |
| 12/31/2020 | 50.54 | .63 | 5.99 | 6.62 | (.70) | (1.30) | (2.00) | 55.16 | 13.55 | 16 | .54 | 1.28 |
| 12/31/2019 | 45.28 | .89 | 10.36 | 11.25 | (.83) | (5.16) | (5.99) | 50.54 | 26.14 | 11 | .54 | 1.82 |
| 12/31/2018 | 50.15 | .72 | (1.25) | (.53) | (.76) | (3.58) | (4.34) | 45.28 | (1.78) | 7 | .53 | 1.43 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 66.44 | .70 | (11.33) | (10.63) | (.69) | (5.66) | (6.35) | 49.46 | (16.50) | 11508 | .54 | 1.29 |
| 12/31/2021 | 54.66 | .63 | 12.45 | 13.08 | (.70) | (.60) | (1.30) | 66.44 | 24.10 | 15319 | .54 | 1.03 |
| 12/31/2020 | 50.08 | .62 | 5.93 | 6.55 | (.67) | (1.30) | (1.97) | 54.66 | 13.54 | 14012 | .54 | 1.27 |
| 12/31/2019 | 44.90 | .87 | 10.27 | 11.14 | (.80) | (5.16) | (5.96) | 50.08 | 26.14 | 13586 | .53 | 1.80 |
| 12/31/2018 | 49.71 | .71 | (1.23) | (.52) | (.71) | (3.58) | (4.29) | 44.90 | (1.79) | 12035 | .53 | 1.40 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 67.48 | .75 | (11.51) | (10.76) | (.73) | (5.66) | (6.39) | 50.33 | (16.43) | 125 | .47 | 1.36 |
| 12/31/2021 | 55.49 | .68 | 12.65 | 13.33 | (.74) | (.60) | (1.34) | 67.48 | 24.18 | 166 | .47 | 1.10 |
| 12/31/2020 | 50.81 | .66 | 6.02 | 6.68 | (.70) | (1.30) | (2.00) | 55.49 | 13.60 | 154 | .47 | 1.34 |
| 12/31/2019 | 45.47 | .91 | 10.43 | 11.34 | (.84) | (5.16) | (6.00) | 50.81 | 26.24 | 156 | .46 | 1.87 |
| 12/31/2018 | 50.29 | .75 | (1.25) | (.50) | (.74) | (3.58) | (4.32) | 45.47 | (1.72) | 140 | .46 | 1.47 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 65.57 | .56 | (11.18) | (10.62) | (.57) | (5.66) | (6.23) | 48.72 | (16.70) | 1630 | .79 | 1.05 |
| 12/31/2021 | 53.99 | .48 | 12.28 | 12.76 | (.58) | (.60) | (1.18) | 65.57 | 23.80 | 1928 | .79 | .79 |
| 12/31/2020 | 49.52 | .49 | 5.85 | 6.34 | (.57) | (1.30) | (1.87) | 53.99 | 13.25 | 1407 | .79 | 1.02 |
| 12/31/2019 | 44.47 | .74 | 10.18 | 10.92 | (.71) | (5.16) | (5.87) | 49.52 | 25.86 | 1216 | .79 | 1.56 |
| 12/31/2018 | 49.31 | .58 | (1.23) | (.65) | (.61) | (3.58) | (4.19) | 44.47 | (2.05) | 899 | .78 | 1.15 |

---

Refer to the end of the tables for footnotes.

356 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $19.62 | $.39 | $(3.09) | $(2.70) | $(.28) | $(7.70) | $(7.98) | $8.94 | (15.00)% | $13 | .64% | .54% | 3.29% |
| 12/31/2021 | 19.01 | .54 | .53 | 1.07 | (.46) |  | (.46) | 19.62 | 5.64 | 30 | .67 | .67 | 2.70 |
| 12/31/2020 | 18.18 | .27 | .85 | 1.12 | (.29) |  | (.29) | 19.01 | 6.24 | 1120 | .68 | .68 | 1.70 |
| 12/31/2019 | 15.35 | .46 | 3.03 | 3.49 | (.47) | (.19) | (.66) | 18.18 | 23.06 | 1140 | .66 | .66 | 2.73 |
| 12/31/2018 | 17.72 | .45 | (2.39) | (1.94) | (.43) |  | (.43) | 15.35 | (11.00) | 1034 | .65 | .65 | 2.62 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 19.39 | .35 | (3.05) | (2.70) | (.29) | (7.70) | (7.99) | 8.70 | (15.31) | 5 | .88 | .79 | 3.15 |
| 12/31/2021 | 18.97 | .50 | .52 | 1.02 | (.60) |  | (.60) | 19.39 | 5.39 | 6 | .94 | .92 | 2.50 |
| 12/31/2020 | 18.15 | .22 | .85 | 1.07 | (.25) |  | (.25) | 18.97 | 5.98 | 3 | .93 | .93 | 1.38 |
| 12/31/2019 | 15.33 | .41 | 3.04 | 3.45 | (.44) | (.19) | (.63) | 18.15 | 22.76 | 2 | .91 | .91 | 2.41 |
| 12/31/2018 | 17.70 | .41 | (2.39) | (1.98) | (.39) |  | (.39) | 15.33 | (11.24) | 2 | .90 | .90 | 2.35 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 19.38 | .36 | (3.05) | (2.69) | (.29) | (7.70) | (7.99) | 8.70 | (15.25) | 162 | .88 | .78 | 3.24 |
| 12/31/2021 | 18.95 | .48 | .53 | 1.01 | (.58) |  | (.58) | 19.38 | 5.37 | 211 | .93 | .92 | 2.44 |
| 12/31/2020 | 18.12 | .23 | .85 | 1.08 | (.25) |  | (.25) | 18.95 | 6.01 | 221 | .93 | .93 | 1.43 |
| 12/31/2019 | 15.30 | .42 | 3.02 | 3.44 | (.43) | (.19) | (.62) | 18.12 | 22.76 | 257 | .91 | .91 | 2.49 |
| 12/31/2018 | 17.66 | .41 | (2.38) | (1.97) | (.39) |  | (.39) | 15.30 | (11.23) | 230 | .90 | .90 | 2.38 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 19.23 | .33 | (3.04) | (2.71) | (.26) | (7.70) | (7.96) | 8.56 | (15.52) | 121 | 1.13 | 1.04 | 3.01 |
| 12/31/2021 | 18.82 | .44 | .51 | .95 | (.54) |  | (.54) | 19.23 | 5.09 | 132 | 1.18 | 1.17 | 2.21 |
| 12/31/2020 | 18.01 | .19 | .83 | 1.02 | (.21) |  | (.21) | 18.82 | 5.73 | 112 | 1.18 | 1.18 | 1.19 |
| 12/31/2019 | 15.22 | .37 | 3.01 | 3.38 | (.40) | (.19) | (.59) | 18.01 | 22.47 | 101 | 1.16 | 1.16 | 2.18 |
| 12/31/2018 | 17.58 | .36 | (2.36) | (2.00) | (.36) |  | (.36) | 15.22 | (11.46) | 71 | 1.15 | 1.15 | 2.10 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 357

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** | **Capital Income Builder** |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $12.17 | $.37 | $(1.21) | $(.84) | $(.34) | $— | $(.34) | $10.99 | (6.90)% | $586 | .44% | .26% | 3.31% |
| 12/31/2021 | 10.87 | .37 | 1.28 | 1.65 | (.35) |  | (.35) | 12.17 | 15.31 | 563 | .53 | .27 | 3.19 |
| 12/31/2020 | 10.73 | .31 | .15 | .46 | (.32) |  | (.32) | 10.87 | 4.64 | 621 | .53 | .35 | 3.07 |
| 12/31/2019 | 9.37 | .32 | 1.36 | 1.68 | (.32) |  | (.32) | 10.73 | 18.16 | 533 | .53 | .53 | 3.17 |
| 12/31/2018 | 10.40 | .31 | (1.00) | (.69) | (.32) | (.02) | (.34) | 9.37 | (6.77) | 317 | .54 | .54 | 3.08 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 12.15 | .34 | (1.19) | (.85) | (.32) |  | (.32) | 10.98 | (7.06) | 10 | .69 | .52 | 3.06 |
| 12/31/2021 | 10.86 | .34 | 1.27 | 1.61 | (.32) |  | (.32) | 12.15 | 14.95 | 10 | .78 | .52 | 2.94 |
| 12/31/2020 | 10.72 | .28 | .16 | .44 | (.30) |  | (.30) | 10.86 | 4.38 | 6 | .78 | .60 | 2.81 |
| 12/31/2019 | 9.36 | .29 | 1.37 | 1.66 | (.30) |  | (.30) | 10.72 | 17.90 | 6 | .78 | .78 | 2.84 |
| 12/31/2018 | 10.39 | .28 | (.99) | (.71) | (.30) | (.02) | (.32) | 9.36 | (7.01) | 2 | .79 | .79 | 2.82 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 12.16 | .34 | (1.20) | (.86) | (.32) |  | (.32) | 10.98 | (7.13) | 13 | .69 | .51 | 3.06 |
| 12/31/2021 | 10.87 | .34 | 1.27 | 1.61 | (.32) |  | (.32) | 12.16 | 14.94 | 13 | .78 | .52 | 2.93 |
| 12/31/2020 | 10.72 | .29 | .16 | .45 | (.30) |  | (.30) | 10.87 | 4.48 | 8 | .78 | .60 | 2.83 |
| 12/31/2019 | 9.36 | .30 | 1.35 | 1.65 | (.29) |  | (.29) | 10.72 | 17.89 | 6 | .78 | .78 | 2.91 |
| 12/31/2018 | 10.40 | .28 | (1.00) | (.72) | (.30) | (.02) | (.32) | 9.36 | (7.08) | 4 | .79 | .79 | 2.83 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 12.14 | .31 | (1.20) | (.89) | (.29) |  | (.29) | 10.96 | (7.37) | 530 | .94 | .76 | 2.81 |
| 12/31/2021 | 10.85 | .31 | 1.27 | 1.58 | (.29) |  | (.29) | 12.14 | 14.68 | 559 | 1.03 | .77 | 2.69 |
| 12/31/2020 | 10.71 | .26 | .15 | .41 | (.27) |  | (.27) | 10.85 | 4.11 | 462 | 1.03 | .85 | 2.55 |
| 12/31/2019 | 9.35 | .27 | 1.36 | 1.63 | (.27) |  | (.27) | 10.71 | 17.62 | 454 | 1.03 | 1.03 | 2.68 |
| 12/31/2018 | 10.38 | .26 | (1.00) | (.74) | (.27) | (.02) | (.29) | 9.35 | (7.25) | 352 | 1.04 | 1.04 | 2.58 |

---

Refer to the end of the tables for footnotes.

358 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses<br> to average<br> net assets<sup>3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** | **Asset Allocation Fund** |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $29.08 | $.52 | $(4.24) | $(3.72) | $(.51) | $(2.65) | $(3.16) | $22.20 | (13.19)% | $15138 | .30% | 2.15% |
| 12/31/2021 | 26.50 | .48 | 3.54 | 4.02 | (.50) | (.94) | (1.44) | 29.08 | 15.40 | 18836 | .30 | 1.71 |
| 12/31/2020 | 24.05 | .43 | 2.59 | 3.02 | (.46) | (.11) | (.57) | 26.50 | 12.71 | 19238 | .30 | 1.80 |
| 12/31/2019 | 21.29 | .51 | 3.94 | 4.45 | (.50) | (1.19) | (1.69) | 24.05 | 21.54 | 17730 | .29 | 2.21 |
| 12/31/2018 | 23.71 | .48 | (1.43) | (.95) | (.44) | (1.03) | (1.47) | 21.29 | (4.35) | 14627 | .28 | 2.04 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 28.97 | .46 | (4.22) | (3.76) | (.46) | (2.65) | (3.11) | 22.10 | (13.43) | 27 | .55 | 1.95 |
| 12/31/2021 | 26.42 | .42 | 3.52 | 3.94 | (.45) | (.94) | (1.39) | 28.97 | 15.13 | 24 | .55 | 1.49 |
| 12/31/2020 | 23.99 | .37 | 2.58 | 2.95 | (.41) | (.11) | (.52) | 26.42 | 12.43 | 14 | .55 | 1.56 |
| 12/31/2019 | 21.26 | .45 | 3.92 | 4.37 | (.45) | (1.19) | (1.64) | 23.99 | 21.19 | 11 | .54 | 1.95 |
| 12/31/2018 | 23.69 | .42 | (1.42) | (1.00) | (.40) | (1.03) | (1.43) | 21.26 | (4.58) | 7 | .53 | 1.82 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 28.74 | .46 | (4.19) | (3.73) | (.45) | (2.65) | (3.10) | 21.91 | (13.41) | 4228 | .55 | 1.90 |
| 12/31/2021 | 26.21 | .41 | 3.49 | 3.90 | (.43) | (.94) | (1.37) | 28.74 | 15.10 | 5473 | .55 | 1.46 |
| 12/31/2020 | 23.79 | .37 | 2.56 | 2.93 | (.40) | (.11) | (.51) | 26.21 | 12.46 | 5242 | .55 | 1.55 |
| 12/31/2019 | 21.08 | .45 | 3.89 | 4.34 | (.44) | (1.19) | (1.63) | 23.79 | 21.23 | 5154 | .54 | 1.96 |
| 12/31/2018 | 23.49 | .41 | (1.41) | (1.00) | (.38) | (1.03) | (1.41) | 21.08 | (4.60) | 4668 | .53 | 1.78 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 29.12 | .48 | (4.25) | (3.77) | (.47) | (2.65) | (3.12) | 22.23 | (13.37) | 28 | .48 | 1.97 |
| 12/31/2021 | 26.53 | .43 | 3.55 | 3.98 | (.45) | (.94) | (1.39) | 29.12 | 15.22 | 36 | .48 | 1.53 |
| 12/31/2020 | 24.08 | .39 | 2.59 | 2.98 | (.42) | (.11) | (.53) | 26.53 | 12.50 | 33 | .48 | 1.62 |
| 12/31/2019 | 21.32 | .47 | 3.93 | 4.40 | (.45) | (1.19) | (1.64) | 24.08 | 21.30 | 32 | .47 | 2.02 |
| 12/31/2018 | 23.73 | .43 | (1.41) | (.98) | (.40) | (1.03) | (1.43) | 21.32 | (4.49) | 29 | .46 | 1.85 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 28.56 | .39 | (4.16) | (3.77) | (.39) | (2.65) | (3.04) | 21.75 | (13.66) | 5380 | .80 | 1.66 |
| 12/31/2021 | 26.06 | .34 | 3.47 | 3.81 | (.37) | (.94) | (1.31) | 28.56 | 14.84 | 6337 | .80 | 1.22 |
| 12/31/2020 | 23.67 | .31 | 2.54 | 2.85 | (.35) | (.11) | (.46) | 26.06 | 12.16 | 5131 | .80 | 1.30 |
| 12/31/2019 | 20.99 | .39 | 3.87 | 4.26 | (.39) | (1.19) | (1.58) | 23.67 | 20.92 | 4493 | .79 | 1.71 |
| 12/31/2018 | 23.40 | .35 | (1.40) | (1.05) | (.33) | (1.03) | (1.36) | 20.99 | (4.83) | 3594 | .78 | 1.54 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 359

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **(Loss) income from** **<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** | **American Funds Global Balanced Fund** |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $14.73 | $.26 | $(2.37) | $(2.11) | $— | $(.07) | $(.07) | $12.55 | (14.33)% | $96 | .59% | .58% | 1.99% |
| 12/31/2021 | 14.19 | .18 | 1.37 | 1.55 | (.19) | (.82) | (1.01) | 14.73 | 11.05 | 120 | .73 | .73 | 1.24 |
| 12/31/2020 | 13.51 | .17 | 1.24 | 1.41 | (.19) | (.54) | (.73) | 14.19 | 10.53 | 139 | .72 | .72 | 1.29 |
| 12/31/2019 | 11.67 | .24 | 2.17 | 2.41 | (.20) | (.37) | (.57) | 13.51 | 20.79 | 134 | .72 | .72 | 1.88 |
| 12/31/2018 | 12.75 | .23 | (.96) | (.73) | (.20) | (.15) | (.35) | 11.67 | (5.81) | 110 | .72 | .72 | 1.82 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 14.70 | .22 | (2.36) | (2.14) |  | (.07) | (.07) | 12.49 | (14.56) | 3 | .84 | .84 | 1.71 |
| 12/31/2021 | 14.16 | .15 | 1.36 | 1.51 | (.15) | (.82) | (.97) | 14.70 | 10.83 | 4 | .98 | .98 | 1.02 |
| 12/31/2020 | 13.49 | .14 | 1.23 | 1.37 | (.16) | (.54) | (.70) | 14.16 | 10.25 | 3 | .97 | .97 | 1.03 |
| 12/31/2019 | 11.65 | .21 | 2.17 | 2.38 | (.17) | (.37) | (.54) | 13.49 | 20.54 | 2 | .97 | .97 | 1.63 |
| 12/31/2018 | 12.74 | .18 | (.94) | (.76) | (.18) | (.15) | (.33) | 11.65 | (6.03) | 2 | .98 | .98 | 1.44 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 14.70 | .22 | (2.36) | (2.14) |  | (.07) | (.07) | 12.49 | (14.56) | 158 | .84 | .83 | 1.73 |
| 12/31/2021 | 14.16 | .15 | 1.36 | 1.51 | (.15) | (.82) | (.97) | 14.70 | 10.79 | 208 | .98 | .98 | 1.01 |
| 12/31/2020 | 13.48 | .14 | 1.23 | 1.37 | (.15) | (.54) | (.69) | 14.16 | 10.30 | 208 | .97 | .97 | 1.03 |
| 12/31/2019 | 11.65 | .21 | 2.16 | 2.37 | (.17) | (.37) | (.54) | 13.48 | 20.44 | 207 | .97 | .97 | 1.64 |
| 12/31/2018 | 12.72 | .20 | (.96) | (.76) | (.16) | (.15) | (.31) | 11.65 | (6.01) | 185 | .97 | .97 | 1.57 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 14.53 | .19 | (2.33) | (2.14) |  | (.07) | (.07) | 12.32 | (14.73) | 111 | 1.09 | 1.08 | 1.49 |
| 12/31/2021 | 14.02 | .11 | 1.34 | 1.45 | (.12) | (.82) | (.94) | 14.53 | 10.46 | 135 | 1.23 | 1.23 | .77 |
| 12/31/2020 | 13.36 | .10 | 1.22 | 1.32 | (.12) | (.54) | (.66) | 14.02 | 10.00 | 105 | 1.22 | 1.22 | .78 |
| 12/31/2019 | 11.55 | .18 | 2.14 | 2.32 | (.14) | (.37) | (.51) | 13.36 | 20.21 | 94 | 1.22 | 1.22 | 1.37 |
| 12/31/2018 | 12.63 | .17 | (.96) | (.79) | (.14) | (.15) | (.29) | 11.55 | (6.31) | 69 | 1.22 | 1.22 | 1.34 |

---

Refer to the end of the tables for footnotes.

360 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **The Bond Fund of America** | **The Bond Fund of America** | **The Bond Fund of America** | | | | | | | | | | | |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $11.21 | $.31 | $(1.67) | $(1.36) | $(.32) | $(.12) | $(.44) | $9.41 | (12.26)% | $6370 | .39% | .20% | 3.09% |
| 12/31/2021 | 11.89 | .21 | (.23) | (.02) | (.19) | (.47) | (.66) | 11.21 | (.14) | 8555 | .39 | .26 | 1.84 |
| 12/31/2020 | 11.17 | .23 | .87 | 1.10 | (.27) | (.11) | (.38) | 11.89 | 9.96 | 6844 | .40 | .40 | 2.00 |
| 12/31/2019 | 10.47 | .30 | .71 | 1.01 | (.31) |  | (.31) | 11.17 | 9.70 | 6481 | .39 | .39 | 2.76 |
| 12/31/2018 | 10.82 | .29 | (.35) | (.06) | (.28) | (.01) | (.29) | 10.47 | (.45) | 5962 | .38 | .38 | 2.70 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.16 | .31 | (1.69) | (1.38) | (.31) | (.12) | (.43) | 9.35 | (12.49) | 220 | .64 | .45 | 3.15 |
| 12/31/2021 | 11.84 | .18 | (.23) | (.05) | (.16) | (.47) | (.63) | 11.16 | (.36) | 12 | .64 | .51 | 1.59 |
| 12/31/2020 | 11.13 | .20 | .87 | 1.07 | (.25) | (.11) | (.36) | 11.84 | 9.68 | 9 | .65 | .65 | 1.74 |
| 12/31/2019 | 10.45 | .27 | .71 | .98 | (.30) |  | (.30) | 11.13 | 9.36 | 7 | .64 | .64 | 2.48 |
| 12/31/2018 | 10.80 | .26 | (.33) | (.07) | (.27) | (.01) | (.28) | 10.45 | (.60) | 3 | .63 | .63 | 2.50 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.06 | .28 | (1.66) | (1.38) | (.29) | (.12) | (.41) | 9.27 | (12.58) | 2844 | .64 | .45 | 2.84 |
| 12/31/2021 | 11.73 | .18 | (.22) | (.04) | (.16) | (.47) | (.63) | 11.06 | (.31) | 3729 | .64 | .52 | 1.57 |
| 12/31/2020 | 11.02 | .20 | .86 | 1.06 | (.24) | (.11) | (.35) | 11.73 | 9.73 | 3840 | .65 | .65 | 1.75 |
| 12/31/2019 | 10.34 | .27 | .70 | .97 | (.29) |  | (.29) | 11.02 | 9.36 | 3561 | .64 | .64 | 2.51 |
| 12/31/2018 | 10.69 | .26 | (.34) | (.08) | (.26) | (.01) | (.27) | 10.34 | (.71) | 3524 | .63 | .63 | 2.45 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.01 | .26 | (1.65) | (1.39) | (.27) | (.12) | (.39) | 9.23 | (12.75) | 787 | .89 | .70 | 2.61 |
| 12/31/2021 | 11.69 | .15 | (.22) | (.07) | (.14) | (.47) | (.61) | 11.01 | (.59) | 891 | .89 | .76 | 1.34 |
| 12/31/2020 | 11.00 | .17 | .85 | 1.02 | (.22) | (.11) | (.33) | 11.69 | 9.38 | 714 | .90 | .90 | 1.48 |
| 12/31/2019 | 10.33 | .24 | .70 | .94 | (.27) |  | (.27) | 11.00 | 9.08 | 502 | .89 | .89 | 2.25 |
| 12/31/2018 | 10.68 | .23 | (.33) | (.10) | (.24) | (.01) | (.25) | 10.33 | (.89) | 366 | .88 | .88 | 2.22 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 361

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Capital World Bond Fund** | **Capital World Bond Fund** | **Capital World Bond Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $11.79 | $.25 | $(2.30) | $(2.05) | $(.03) | $(.16) | $(.19) | $9.55 | (17.43)% | $663 | .51% | .48% | 2.43% |
| 12/31/2021 | 12.94 | .25 | (.85) | (.60) | (.24) | (.31) | (.55) | 11.79 | (4.73) | 988 | .60 | .50 | 2.06 |
| 12/31/2020 | 12.12 | .26 | .95 | 1.21 | (.18) | (.21) | (.39) | 12.94 | 10.17 | 1219 | .59 | .52 | 2.08 |
| 12/31/2019 | 11.42 | .31 | .61 | .92 | (.22) |  | (.22) | 12.12 | 8.08 | 1077 | .58 | .58 | 2.60 |
| 12/31/2018 | 11.88 | .30 | (.44) | (.14) | (.28) | (.04) | (.32) | 11.42 | (1.14) | 1015 | .57 | .57 | 2.56 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.76 | .22 | (2.30) | (2.08) | (.02) | (.16) | (.18) | 9.50 | (17.69) | 1 | .76 | .73 | 2.19 |
| 12/31/2021 | 12.91 | .23 | (.85) | (.62) | (.22) | (.31) | (.53) | 11.76 | (4.88) | 1 | .85 | .75 | 1.85 |
| 12/31/2020 | 12.10 | .23 | .95 | 1.18 | (.16) | (.21) | (.37) | 12.91 | 9.89 | 1 | .83 | .76 | 1.83 |
| 12/31/2019 | 11.41 | .28 | .60 | .88 | (.19) |  | (.19) | 12.10 | 7.75 | 1 | .83 | .83 | 2.35 |
| 12/31/2018 | 11.87 | .27 | (.43) | (.16) | (.26) | (.04) | (.30) | 11.41 | (1.29) | 1 | .82 | .82 | 2.36 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.70 | .22 | (2.29) | (2.07) | (.02) | (.16) | (.18) | 9.45 | (17.70) | 765 | .76 | .73 | 2.18 |
| 12/31/2021 | 12.84 | .22 | (.84) | (.62) | (.21) | (.31) | (.52) | 11.70 | (4.92) | 1030 | .85 | .75 | 1.82 |
| 12/31/2020 | 12.03 | .22 | .95 | 1.17 | (.15) | (.21) | (.36) | 12.84 | 9.90 | 1058 | .84 | .77 | 1.83 |
| 12/31/2019 | 11.34 | .28 | .60 | .88 | (.19) |  | (.19) | 12.03 | 7.77 | 1002 | .83 | .83 | 2.35 |
| 12/31/2018 | 11.79 | .27 | (.43) | (.16) | (.25) | (.04) | (.29) | 11.34 | (1.33) | 1032 | .82 | .82 | 2.32 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.57 | .19 | (2.25) | (2.06) | (.02) | (.16) | (.18) | 9.33 | (17.84) | 53 | 1.01 | .98 | 1.94 |
| 12/31/2021 | 12.71 | .19 | (.84) | (.65) | (.18) | (.31) | (.49) | 11.57 | (5.18) | 66 | 1.10 | 1.00 | 1.57 |
| 12/31/2020 | 11.92 | .19 | .94 | 1.13 | (.13) | (.21) | (.34) | 12.71 | 9.62 | 61 | 1.09 | 1.02 | 1.58 |
| 12/31/2019 | 11.24 | .24 | .60 | .84 | (.16) |  | (.16) | 11.92 | 7.54 | 49 | 1.08 | 1.08 | 2.09 |
| 12/31/2018 | 11.70 | .24 | (.43) | (.19) | (.23) | (.04) | (.27) | 11.24 | (1.61) | 40 | 1.07 | 1.07 | 2.09 |

---

Refer to the end of the tables for footnotes.

362 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers<sup>3</sup>** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2,3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** | **American High-Income Trust** |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $10.19 | $.56 | $(1.47) | $(.91) | $(.75) | $— | $(.75) | $8.53 | (9.01)% | $224 | .47% | .32% | 5.95% |
| 12/31/2021 | 9.80 | .51 | .34 | .85 | (.46) |  | (.46) | 10.19 | 8.74 | 278 | .53 | .37 | 4.95 |
| 12/31/2020 | 9.87 | .61 | .17 | .78 | (.85) |  | (.85) | 9.80 | 8.21 | 123 | .52 | .52 | 6.46 |
| 12/31/2019 | 9.34 | .67 | .52 | 1.19 | (.66) |  | (.66) | 9.87 | 12.85 | 525 | .51 | .51 | 6.71 |
| 12/31/2018 | 10.19 | .64 | (.84) | (.20) | (.65) |  | (.65) | 9.34 | (2.15) | 501 | .50 | .50 | 6.32 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.16 | .53 | (1.46) | (.93) | (.72) |  | (.72) | 8.51 | (9.29) | 1 | .72 | .57 | 5.70 |
| 12/31/2021 | 9.78 | .49 | .33 | .82 | (.44) |  | (.44) | 10.16 | 8.42 | 1 | .78 | .64 | 4.75 |
| 12/31/2020 | 9.86 | .56 | .20 | .76 | (.84) |  | (.84) | 9.78 | 7.94 | 1 | .78 | .78 | 5.85 |
| 12/31/2019 | 9.33 | .65 | .51 | 1.16 | (.63) |  | (.63) | 9.86 | 12.61 | 1 | .75 | .75 | 6.47 |
| 12/31/2018 | 10.18 | .62 | (.84) | (.22) | (.63) |  | (.63) | 9.33 | (2.35) | 1 | .75 | .75 | 6.11 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 9.98 | .52 | (1.43) | (.91) | (.72) |  | (.72) | 8.35 | (9.26) | 521 | .72 | .57 | 5.68 |
| 12/31/2021 | 9.61 | .48 | .33 | .81 | (.44) |  | (.44) | 9.98 | 8.42 | 673 | .78 | .65 | 4.80 |
| 12/31/2020 | 9.70 | .55 | .19 | .74 | (.83) |  | (.83) | 9.61 | 7.94 | 665 | .78 | .78 | 5.88 |
| 12/31/2019 | 9.19 | .64 | .50 | 1.14 | (.63) |  | (.63) | 9.70 | 12.55 | 667 | .76 | .76 | 6.45 |
| 12/31/2018 | 10.03 | .61 | (.83) | (.22) | (.62) |  | (.62) | 9.19 | (2.34) | 661 | .75 | .75 | 6.07 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.24 | .54 | (1.47) | (.93) | (.73) |  | (.73) | 8.58 | (9.25) | 9 | .65 | .50 | 5.76 |
| 12/31/2021 | 9.84 | .50 | .34 | .84 | (.44) |  | (.44) | 10.24 | 8.60 | 10 | .71 | .58 | 4.86 |
| 12/31/2020 | 9.92 | .57 | .19 | .76 | (.84) |  | (.84) | 9.84 | 7.93 | 10 | .71 | .71 | 5.94 |
| 12/31/2019 | 9.38 | .66 | .52 | 1.18 | (.64) |  | (.64) | 9.92 | 12.70 | 10 | .69 | .69 | 6.52 |
| 12/31/2018 | 10.23 | .63 | (.85) | (.22) | (.63) |  | (.63) | 9.38 | (2.33) | 10 | .68 | .68 | 6.14 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.99 | .55 | (1.58) | (1.03) | (.70) |  | (.70) | 9.26 | (9.53) | 77 | .97 | .82 | 5.44 |
| 12/31/2021 | 10.54 | .50 | .36 | .86 | (.41) |  | (.41) | 10.99 | 8.18 | 90 | 1.03 | .89 | 4.52 |
| 12/31/2020 | 10.56 | .57 | .22 | .79 | (.81) |  | (.81) | 10.54 | 7.74 | 69 | 1.03 | 1.03 | 5.58 |
| 12/31/2019 | 9.96 | .67 | .54 | 1.21 | (.61) |  | (.61) | 10.56 | 12.27 | 63 | 1.01 | 1.01 | 6.21 |
| 12/31/2018 | 10.82 | .63 | (.90) | (.27) | (.59) |  | (.59) | 9.96 | (2.64) | 31 | 1.00 | 1.00 | 5.83 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 363

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **American Funds Mortgage Fund** | **American Funds Mortgage Fund** | **American Funds Mortgage Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $10.63 | $.07 | $(1.10) | $(1.03) | $(.15) | $— | $(.15) | $9.45 | (9.76)% | $1 | .45% | .25% | .70% |
| 12/31/2021 | 11.11 | .06 | (.09) | (.03) | (.08) | (.37) | (.45) | 10.63 | (.32) | 231 | .49 | .29 | .58 |
| 12/31/2020 | 10.56 | .10 | .64 | .74 | (.17) | (.02) | (.19) | 11.11 | 6.98 | 224 | .48 | .36 | .93 |
| 12/31/2019 | 10.30 | .24 | .30 | .54 | (.28) |  | (.28) | 10.56 | 5.30 | 210 | .47 | .47 | 2.26 |
| 12/31/2018 | 10.47 | .20 | (.14) | .06 | (.23) |  | (.23) | 10.30 | .58 | 209 | .48 | .48 | 1.97 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.59 | .19 | (1.24) | (1.05) | (.20) |  | (.20) | 9.34 | (10.03) | 2 | .69 | .54 | 1.91 |
| 12/31/2021 | 11.08 | .04 | (.10) | (.06) | (.06) | (.37) | (.43) | 10.59 | (.47) | 2 | .74 | .54 | .33 |
| 12/31/2020 | 10.55 | .07 | .63 | .70 | (.15) | (.02) | (.17) | 11.08 | 6.63 | 1 | .73 | .59 | .61 |
| 12/31/2019 | 10.28 | .22 | .30 | .52 | (.25) |  | (.25) | 10.55 | 5.09 | 1 | .71 | .71 | 2.04 |
| 12/31/2018 | 10.46 | .18 | (.14) | .04 | (.22) |  | (.22) | 10.28 | .36 | 1 | .73 | .73 | 1.77 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.61 | .18 | (1.23) | (1.05) | (.20) |  | (.20) | 9.36 | (9.94) | 46 | .69 | .54 | 1.87 |
| 12/31/2021 | 11.09 | .04 | (.10) | (.06) | (.05) | (.37) | (.42) | 10.61 | (.57) | 58 | .74 | .54 | .33 |
| 12/31/2020 | 10.54 | .08 | .63 | .71 | (.14) | (.02) | (.16) | 11.09 | 6.72 | 58 | .73 | .60 | .68 |
| 12/31/2019 | 10.28 | .21 | .31 | .52 | (.26) |  | (.26) | 10.54 | 5.04 | 56 | .72 | .72 | 2.01 |
| 12/31/2018 | 10.45 | .18 | (.15) | .03 | (.20) |  | (.20) | 10.28 | .32 | 57 | .73 | .73 | 1.72 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.49 | .16 | (1.22) | (1.06) | (.18) |  | (.18) | 9.25 | (10.16) | 40 | .94 | .79 | 1.66 |
| 12/31/2021 | 10.97 | .01 | (.09) | (.08) | (.03) | (.37) | (.40) | 10.49 | (.78) | 43 | .99 | .79 | .08 |
| 12/31/2020 | 10.44 | .04 | .63 | .67 | (.12) | (.02) | (.14) | 10.97 | 6.38 | 37 | .98 | .85 | .41 |
| 12/31/2019 | 10.19 | .18 | .31 | .49 | (.24) |  | (.24) | 10.44 | 4.80 | 28 | .97 | .97 | 1.71 |
| 12/31/2018 | 10.38 | .15 | (.15) | —<sup>4</sup> | (.19) |  | (.19) | 10.19 | .07 | 24 | .98 | .98 | 1.49 |

---

Refer to the end of the tables for footnotes.

364 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income<br> (loss)** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> end<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of <br> expenses<br> to average<br> net assets** |<br>**Ratio of<br> net income<br> (loss)<br> to average<br> net assets** |
| **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | **Ultra-Short Bond Fund** | | | | | | | | | | |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $11.27 | $.17 | $(.01) | $.16 | $(.08) | $— | $(.08) | $11.35 | 1.42% | $51 | .32% | 1.48% |
| 12/31/2021 | 11.31 | (.03) | (.01) | (.04) |  |  |  | 11.27 | (.35) | 37 | .37 | (.28) |
| 12/31/2020 | 11.30 | .02 | .02 | .04 | (.03) |  | (.03) | 11.31 | .34 | 44 | .37 | .16 |
| 12/31/2019 | 11.31 | .22 | —<sup>4</sup> | .22 | (.23) |  | (.23) | 11.30 | 1.92 | 30 | .36 | 1.92 |
| 12/31/2018 | 11.29 | .18 | —<sup>4</sup> | .18 | (.16) |  | (.16) | 11.31 | 1.58 | 37 | .35 | 1.60 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.28 | .16 | (.01) | .15 | (.08) |  | (.08) | 11.35 | 1.32 | —<sup>6</sup> | .31 | 1.40 |
| 12/31/2021 | 11.31 | (.03) | —<sup>4</sup> | (.03) |  |  |  | 11.28 | (.27) | —<sup>6</sup> | .36 | (.28) |
| 12/31/2020 | 11.30 | .03 | .01 | .04 | (.03) |  | (.03) | 11.31 | .32 | —<sup>6</sup> | .35 | .26 |
| 12/31/2019 | 11.31 | .22 | —<sup>4</sup> | .22 | (.23) |  | (.23) | 11.30 | 1.92 | —<sup>6</sup> | .37 | 1.90 |
| 12/31/2018 | 11.29 | .18 | —<sup>4</sup> | .18 | (.16) |  | (.16) | 11.31 | 1.58 | —<sup>6</sup> | .35 | 1.60 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.93 | .13 | —<sup>4</sup> | .13 | (.06) |  | (.06) | 11.00 | 1.17 | 297 | .57 | 1.23 |
| 12/31/2021 | 10.99 | (.06) | —<sup>4</sup> | (.06) |  |  |  | 10.93 | (.55) | 245 | .62 | (.53) |
| 12/31/2020 | 11.01 | —<sup>4</sup> | —<sup>4</sup> | —<sup>4</sup> | (.02) |  | (.02) | 10.99 | .03 | 288 | .62 | (.05) |
| 12/31/2019 | 11.03 | .18 | —<sup>4</sup> | .18 | (.20) |  | (.20) | 11.01 | 1.62 | 230 | .61 | 1.66 |
| 12/31/2018 | 11.01 | .15 | —<sup>4</sup> | .15 | (.13) |  | (.13) | 11.03 | 1.36 | 247 | .60 | 1.34 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.07 | .13 | —<sup>4</sup> | .13 | (.06) |  | (.06) | 11.14 | 1.19 | 4 | .50 | 1.19 |
| 12/31/2021 | 11.12 | (.05) | —<sup>4</sup> | (.05) |  |  |  | 11.07 | (.45) | 5 | .55 | (.46) |
| 12/31/2020 | 11.13 | —<sup>4</sup> | .02 | .02 | (.03) |  | (.03) | 11.12 | .13 | 4 | .55 | .03 |
| 12/31/2019 | 11.14 | .20 | —<sup>4</sup> | .20 | (.21) |  | (.21) | 11.13 | 1.76 | 3 | .54 | 1.74 |
| 12/31/2018 | 11.12 | .16 | (.01) | .15 | (.13) |  | (.13) | 11.14 | 1.38 | 4 | .53 | 1.42 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.00 | .12 | (.03) | .09 | (.04) |  | (.04) | 11.05 | .83 | 80 | .82 | 1.05 |
| 12/31/2021 | 11.08 | (.09) | .01 | (.08) |  |  |  | 11.00 | (.72) | 46 | .87 | (.79) |
| 12/31/2020 | 11.13 | (.04) | .01 | (.03) | (.02) |  | (.02) | 11.08 | (.25) | 40 | .87 | (.35) |
| 12/31/2019 | 11.15 | .16 | —<sup>4</sup> | .16 | (.18) |  | (.18) | 11.13 | 1.40 | 22 | .86 | 1.40 |
| 12/31/2018 | 11.13 | .12 | .01 | .13 | (.11) |  | (.11) | 11.15 | 1.14 | 18 | .86 | 1.11 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 365

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers<sup>2</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **U.S. Government Securities Fund** | **U.S. Government Securities Fund** | **U.S. Government Securities Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class 1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $11.67 | $.32 | $(1.56) | $(1.24) | $(.44) | $— | $(.44) | $9.99 | (10.75)% | $242 | .36% | .22% | 2.90% |
| 12/31/2021 | 13.04 | .18 | (.26) | (.08) | (.18) | (1.11) | (1.29) | 11.67 | (.44) | 522 | .39 | .29 | 1.50 |
| 12/31/2020 | 12.34 | .16 | 1.07 | 1.23 | (.26) | (.27) | (.53) | 13.04 | 10.09 | 429 | .38 | .38 | 1.21 |
| 12/31/2019 | 11.94 | .25 | .43 | .68 | (.28) |  | (.28) | 12.34 | 5.69 | 1418 | .37 | .37 | 2.07 |
| 12/31/2018 | 12.08 | .24 | (.13) | .11 | (.25) |  | (.25) | 11.94 | .91 | 1445 | .36 | .36 | 2.02 |
| **Class 1A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.63 | .29 | (1.55) | (1.26) | (.41) |  | (.41) | 9.96 | (10.93) | 4 | .60 | .47 | 2.70 |
| 12/31/2021 | 13.00 | .16 | (.26) | (.10) | (.16) | (1.11) | (1.27) | 11.63 | (.65) | 5 | .64 | .53 | 1.28 |
| 12/31/2020 | 12.32 | .09 | 1.10 | 1.19 | (.24) | (.27) | (.51) | 13.00 | 9.75 | 4 | .64 | .64 | .69 |
| 12/31/2019 | 11.93 | .22 | .43 | .65 | (.26) |  | (.26) | 12.32 | 5.42 | 2 | .62 | .62 | 1.82 |
| 12/31/2018 | 12.08 | .22 | (.14) | .08 | (.23) |  | (.23) | 11.93 | .70 | 1 | .61 | .61 | 1.82 |
| **Class 2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.53 | .29 | (1.54) | (1.25) | (.41) |  | (.41) | 9.87 | (10.95) | 1059 | .61 | .47 | 2.69 |
| 12/31/2021 | 12.89 | .15 | (.25) | (.10) | (.15) | (1.11) | (1.26) | 11.53 | (.62) | 1391 | .64 | .54 | 1.24 |
| 12/31/2020 | 12.21 | .09 | 1.10 | 1.19 | (.24) | (.27) | (.51) | 12.89 | 9.80 | 1439 | .64 | .64 | .73 |
| 12/31/2019 | 11.82 | .22 | .42 | .64 | (.25) |  | (.25) | 12.21 | 5.31 | 1343 | .62 | .62 | 1.82 |
| 12/31/2018 | 11.96 | .21 | (.14) | .07 | (.21) |  | (.21) | 11.82 | .73 | 1323 | .61 | .61 | 1.77 |
| **Class 3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.70 | .30 | (1.57) | (1.27) | (.41) |  | (.41) | 10.02 | (10.90) | 6 | .54 | .40 | 2.76 |
| 12/31/2021 | 13.07 | .16 | (.26) | (.10) | (.16) | (1.11) | (1.27) | 11.70 | (.62) | 9 | .57 | .47 | 1.31 |
| 12/31/2020 | 12.37 | .10 | 1.12 | 1.22 | (.25) | (.27) | (.52) | 13.07 | 9.91 | 10 | .57 | .57 | .78 |
| 12/31/2019 | 11.97 | .23 | .43 | .66 | (.26) |  | (.26) | 12.37 | 5.49 | 9 | .55 | .55 | 1.88 |
| 12/31/2018 | 12.11 | .22 | (.14) | .08 | (.22) |  | (.22) | 11.97 | .71 | 9 | .54 | .54 | 1.84 |
| **Class 4:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 11.52 | .26 | (1.54) | (1.28) | (.38) |  | (.38) | 9.86 | (11.19) | 190 | .85 | .72 | 2.45 |
| 12/31/2021 | 12.88 | .12 | (.25) | (.13) | (.12) | (1.11) | (1.23) | 11.52 | (.88) | 238 | .89 | .79 | .98 |
| 12/31/2020 | 12.22 | .05 | 1.10 | 1.15 | (.22) | (.27) | (.49) | 12.88 | 9.48 | 272 | .89 | .89 | .42 |
| 12/31/2019 | 11.84 | .19 | .42 | .61 | (.23) |  | (.23) | 12.22 | 5.14 | 124 | .87 | .87 | 1.56 |
| 12/31/2018 | 11.98 | .18 | (.12) | .06 | (.20) |  | (.20) | 11.84 | .50 | 91 | .86 | .86 | 1.53 |

---

Refer to the end of the tables for footnotes.

366 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income<br> (loss)** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value, end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of<br> year<br> (in millions)** | **Ratio of<br> expenses**<br>**to average<br> net assets<br> before<br> waivers/<br> reimburse-<br> ments<sup>7</sup>** | **Ratio of<br> expenses**<br>**to average<br> net assets<br> after<br> waivers/<br> reimburse-<br> ments<sup>2,7</sup>** |<br>**Net<br> effective<br> expense<br> ratio<sup>2,8,9</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Class P1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $18.53 | $.06 | $(4.46) | $(4.40) | $(.22) | $(2.54) | $(2.76) | $11.37 | (24.62)% | $9 | .41% | .36% | .69% | .47% |
| 12/31/2021 | 17.25 | .04 | 2.16 | 2.20 | (.18) | (.74) | (.92) | 18.53 | 13.08 | 13 | .41 | .36 | .69 | .19 |
| 12/31/2020 | 13.78 | .07 | 4.20 | 4.27 | (.12) | (.68) | (.80) | 17.25 | 32.45 | 11 | .42 | .37 | .72 | .49 |
| 12/31/2019 | 12.30 | .15 | 2.44 | 2.59 | (.19) | (.92) | (1.11) | 13.78 | 22.01 | 6 | .42 | .37 | .73 | 1.19 |
| 12/31/2018 | 13.22 | .11 | (.04) | .07 | (.10) | (.89) | (.99) | 12.30 | (.04)<sup>10</sup> | 3 | .42<sup>10</sup> | .37<sup>10</sup> | .71<sup>10</sup> | .82<sup>10</sup> |
| **Class P2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 18.42 | .03 | (4.45) | (4.42) | (.18) | (2.54) | (2.72) | 11.28 | (24.88) | 445 | .67 | .62 | .95 | .20 |
| 12/31/2021 | 17.11 | (.01) | 2.16 | 2.15 | (.10) | (.74) | (.84) | 18.42 | 12.89 | 584 | .67 | .62 | .95 | (.07) |
| 12/31/2020 | 13.71 | .03 | 4.16 | 4.19 | (.11) | (.68) | (.79) | 17.11 | 32.03 | 554 | .67 | .62 | .97 | .20 |
| 12/31/2019 | 12.21 | .09 | 2.45 | 2.54 | (.12) | (.92) | (1.04) | 13.71 | 21.74 | 434 | .68 | .63 | .99 | .73 |
| 12/31/2018 | 13.14 | .06 | (.04) | .02 | (.06) | (.89) | (.95) | 12.21 | (.37) | 340 | .68 | .63 | .97 | .46 |
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Class P1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $10.55 | $.15 | $(1.75) | $(1.60) | $(.34) | $— | $(.34) | $8.61 | (15.27)%<sup>10</sup> | $2 | .44%<sup>10</sup> | .37%<sup>10</sup> | .87%<sup>10</sup> | 1.70%<sup>10</sup> |
| 12/31/2021 | 11.07 | .24 | (.67) | (.43) | (.09) |  | (.09) | 10.55 | (3.92)<sup>10</sup> | 2 | .44<sup>10</sup> | .36<sup>10</sup> | .87<sup>10</sup> | 2.12<sup>10</sup> |
| 12/31/2020 | 11.01 | .08 | .22 | .30 | (.16) | (.08) | (.24) | 11.07 | 3.13<sup>10</sup> | 2 | .43<sup>10</sup> | .35<sup>10</sup> | .86<sup>10</sup> | .82<sup>10</sup> |
| 12/31/2019 | 9.82 | .17 | 1.54 | 1.71 | (.20) | (.32) | (.52) | 11.01 | 17.91<sup>10</sup> | 1 | .41<sup>10</sup> | .33<sup>10</sup> | .84<sup>10</sup> | 1.64<sup>10</sup> |
| 12/31/2018 | 11.25 | .32 | (1.44) | (1.12) | (.26) | (.05) | (.31) | 9.82 | (10.11)<sup>10</sup> | —<sup>6</sup> | .33<sup>10</sup> | .28<sup>10</sup> | .77<sup>10</sup> | 3.02<sup>10</sup> |
| **Class P2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 10.48 | .12 | (1.74) | (1.62) | (.28) |  | (.28) | 8.58 | (15.54) | 124 | .70 | .63 | 1.13 | 1.36 |
| 12/31/2021 | 10.99 | .20 | (.65) | (.45) | (.06) |  | (.06) | 10.48 | (4.13) | 160 | .71 | .63 | 1.14 | 1.79 |
| 12/31/2020 | 10.92 | .04 | .23 | .27 | (.12) | (.08) | (.20) | 10.99 | 2.80 | 168 | .71 | .63 | 1.14 | .42 |
| 12/31/2019 | 9.76 | .13 | 1.55 | 1.68 | (.20) | (.32) | (.52) | 10.92 | 17.64 | 165 | .71 | .63 | 1.14 | 1.21 |
| 12/31/2018 | 11.15 | .16 | (1.32) | (1.16) | (.18) | (.05) | (.23) | 9.76 | (10.50) | 151 | .69 | .64 | 1.13 | 1.49 |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |  |  |  |  |  |  |  |  |  |  |
| **Class P1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $12.95 | $.23 | $(1.38) | $(1.15) | $(.56) | $— | $(.56) | $11.24 | (8.92)%<sup>10</sup> | $3 | .41%<sup>10</sup> | .36%<sup>10</sup> | .75%<sup>10</sup> | 1.96%<sup>10</sup> |
| 12/31/2021 | 11.24 | .16 | 1.79 | 1.95 | (.24) |  | (.24) | 12.95 | 17.46<sup>10</sup> | 2 | .41<sup>10</sup> | .36<sup>10</sup> | .77<sup>10</sup> | 1.33<sup>10</sup> |
| 12/31/2020 | 12.01 | .18 | (.35) | (.17) | (.26) | (.34) | (.60) | 11.24 | (.93)<sup>10</sup> | 2 | .40<sup>10</sup> | .35<sup>10</sup> | .76<sup>10</sup> | 1.66<sup>10</sup> |
| 12/31/2019 | 11.28 | .25 | 1.28 | 1.53 | (.20) | (.60) | (.80) | 12.01 | 14.14<sup>10</sup> | 1 | .38<sup>10</sup> | .33<sup>10</sup> | .74<sup>10</sup> | 2.14<sup>10</sup> |
| 12/31/2018 | 13.04 | .40 | (1.27) | (.87) | (.45) | (.44) | (.89) | 11.28 | (6.99)<sup>10</sup> | —<sup>6</sup> | .33<sup>10</sup> | .28<sup>10</sup> | .67<sup>10</sup> | 3.21<sup>10</sup> |
| **Class P2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 12.88 | .19 | (1.37) | (1.18) | (.52) |  | (.52) | 11.18 | (9.16) | 321 | .67 | .62 | 1.01 | 1.62 |
| 12/31/2021 | 11.18 | .11 | 1.79 | 1.90 | (.20) |  | (.20) | 12.88 | 17.11 | 371 | .68 | .62 | 1.03 | .91 |
| 12/31/2020 | 11.91 | .13 | (.33) | (.20) | (.19) | (.34) | (.53) | 11.18 | (1.25) | 355 | .68 | .63 | 1.04 | 1.18 |
| 12/31/2019 | 11.21 | .18 | 1.31 | 1.49 | (.19) | (.60) | (.79) | 11.91 | 13.88 | 365 | .68 | .63 | 1.04 | 1.62 |
| 12/31/2018 | 12.96 | .19 | (1.10) | (.91) | (.40) | (.44) | (.84) | 11.21 | (7.38) | 336 | .68 | .63 | 1.02 | 1.49 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 367

Financial highlights (continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income<br> (loss)** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value, end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of<br> year<br> (in millions)** | **Ratio of<br> expenses**<br>**to average<br> net assets<br> before<br> waivers/<br> reimburse-<br> ments<sup>7</sup>** | **Ratio of<br> expenses**<br>**to average<br> net assets<br> after<br> waivers/<br> reimburse-<br> ments<sup>2,7</sup>** |<br>**Net<br> effective<br> expense<br> ratio<sup>2,8,9</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>2</sup>** |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class P1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $15.73 | $.18 | $(2.79) | $(2.61) | $(.30) | $(.31) | $(.61) | $12.51 | (16.74)% | $1833 | .41% | .36% | .65% | 1.33% |
| 12/31/2021 | 14.01 | .14 | 1.99 | 2.13 | (.21) | (.20) | (.41) | 15.73 | 15.32 | 2328 | .41 | .36 | .66 | .96 |
| 12/31/2020 | 13.76 | .17 | 1.08 | 1.25 | (.26) | (.74) | (1.00) | 14.01 | 9.85 | 2120 | .41 | .36 | .66 | 1.24 |
| 12/31/2019 | 11.73 | .22 | 2.01 | 2.23 | (.10) | (.10) | (.20) | 13.76 | 19.14 | 1987 | .42 | .37 | .67 | 1.71 |
| 12/31/2018 | 12.66 | (.02) | (.15) | (.17) | (.19) | (.57) | (.76) | 11.73 | (1.66) | 1662 | .40 | .35 | .64 | (.20) |
| **Class P2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 15.64 | .15 | (2.78) | (2.63) | (.26) | (.31) | (.57) | 12.44 | (16.93) | 268 | .66 | .61 | .90 | 1.10 |
| 12/31/2021 | 13.93 | .10 | 1.98 | 2.08 | (.17) | (.20) | (.37) | 15.64 | 15.05 | 340 | .66 | .61 | .91 | .70 |
| 12/31/2020 | 13.69 | .14 | 1.07 | 1.21 | (.23) | (.74) | (.97) | 13.93 | 9.58 | 315 | .66 | .61 | .91 | 1.02 |
| 12/31/2019 | 11.67 | .19 | 2.00 | 2.19 | (.07) | (.10) | (.17) | 13.69 | 18.84 | 283 | .67 | .62 | .92 | 1.47 |
| 12/31/2018 | 12.58 | .16 | (.36) | (.20) | (.14) | (.57) | (.71) | 11.67 | (1.97) | 230 | .69 | .64 | .93 | 1.25 |
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |  |  |  |  |  |  |  |  |  |  |  |
| **Class P1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | $15.33 | $.24 | $(2.34) | $(2.10) | $(.32) | $(.48) | $(.80) | $12.43 | (13.75)% | $7 | .41% | .36% | .64% | 1.80% |
| 12/31/2021 | 13.84 | .21 | 1.55 | 1.76 | (.27) |  | (.27) | 15.33 | 12.82 | 7 | .41 | .36 | .66 | 1.43 |
| 12/31/2020 | 13.81 | .25 | .51 | .76 | (.21) | (.52) | (.73) | 13.84 | 6.10 | 5 | .41 | .36 | .66 | 1.91 |
| 12/31/2019 | 12.23 | .26 | 1.92 | 2.18 | (.03) | (.57) | (.60) | 13.81 | 18.25 | 2 | .41 | .36 | .65 | 2.01 |
| 12/31/2018 | 13.59 | .22 | (.80) | (.58) | (.25) | (.53) | (.78) | 12.23 | (4.63) | 2 | .37 | .32 | .59 | 1.67 |
| **Class P2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2022 | 14.93 | .18 | (2.25) | (2.07) | (.29) | (.48) | (.77) | 12.09 | (13.97) | 2182 | .66 | .61 | .89 | 1.40 |
| 12/31/2021 | 13.45 | .15 | 1.53 | 1.68 | (.20) |  | (.20) | 14.93 | 12.50 | 2812 | .66 | .61 | .91 | 1.03 |
| 12/31/2020 | 13.46 | .15 | .56 | .71 | (.20) | (.52) | (.72) | 13.45 | 5.88 | 2773 | .66 | .61 | .91 | 1.15 |
| 12/31/2019 | 12.22 | .19 | 1.93 | 2.12 | (.31) | (.57) | (.88) | 13.46 | 17.98 | 2830 | .66 | .61 | .90 | 1.51 |
| 12/31/2018 | 13.55 | .17 | (.79) | (.62) | (.18) | (.53) | (.71) | 12.22 | (4.89) | 2541 | .62 | .57 | .84 | 1.27 |

---

Refer to the end of the tables for footnotes.

368 American Funds Insurance Series

Financial highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **Portfolio turnover rate for all share classes**<br>**excluding mortgage dollar roll transactions<sup>11,12</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Capital Income Builder | 48% | 60% | 110% | 44% | 42% |
| Asset Allocation Fund | 42 | 45 | 49 | 47 | 34 |
| American Funds Global Balanced Fund | 111 | 36 | 68 | 60 | 30 |
| The Bond Fund of America | 77 | 87 | 72 | 146 | 98 |
| Capital World Bond Fund | 114 | 64 | 88 | 110 | 78 |
| American Funds Mortgage Fund | 56 | 38 | 123 | 84 | 60 |
| U.S. Government Securities Fund | 77 | 126 | 112 | 103 | 76 |
| **Portfolio turnover rate for all share classes** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **including mortgage dollar roll transactions<sup>11,12</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Global Growth Fund | 29% | 18% | 17% | 14% | 25% |
| Global Small Capitalization Fund | 40 | 29 | 38 | 50 | 43 |
| Growth Fund | 29 | 25 | 32 | 21 | 35 |
| International Fund | 42 | 44 | 40 | 32 | 29 |
| New World Fund | 40 | 43 | 70 | 38 | 58 |
| Washington Mutual Investors Fund | 30 | 90 | 40 | 37 | 49 |
| Capital World Growth and Income Fund | 42 | 85 | 36 | 29 | 49 |
| Growth-Income Fund | 25 | 24 | 33 | 27 | 39 |
| International Growth and Income Fund | 48 | 41 | 56 | 28 | 38 |
| Capital Income Builder | 126 | 93 | 184 | 72 | 98 |
| Asset Allocation Fund | 118 | 124 | 145 | 79 | 86 |
| American Funds Global Balanced Fund | 126 | 39 | 86 | 74 | 51 |
| The Bond Fund of America | 415 | 456 | 461 | 373 | 514 |
| Capital World Bond Fund | 188 | 91 | 145 | 159 | 125 |
| American High-Income Trust | 34 | 56 | 78 | 58 | 67 |
| American Funds Mortgage Fund | 1141 | 975 | 1143 | 350 | 811 |
| Ultra-Short Bond Fund | —<sup>13</sup> | —<sup>13</sup> | —<sup>13</sup> | —<sup>13</sup> | —<sup>13</sup> |
| U.S. Government Securities Fund | 695 | 433 | 867 | 277 | 446 |
| Managed Risk Growth Fund | 97 | 32 | 80 | 10 | 7 |
| Managed Risk International Fund | 82 | 24 | 71 | 8 | 8 |
| Managed Risk Washington Mutual Investors Fund | 70 | 16 | 101 | 13 | 11 |
| Managed Risk Growth-Income Fund | 67 | 13 | 38 | 6 | 14 |
| Managed Risk Asset Allocation Fund | 48 | 5 | 30 | 8 | 12 |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> This column reflects the impact of certain waivers/reimbursements from CRMC. During some of the years shown, CRMC waived a portion of investment advisory services fees on some funds, including each of the managed risk funds. In addition, during some of the years shown, CRMC reimbursed a portion of miscellaneous fees and expenses for some of the managed risk funds.

<sup>3</sup> Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds, if applicable.

<sup>4</sup> Amount less than $.01.

<sup>5</sup> Amount less than .01%.

<sup>6</sup> Amount less than $1 million.

<sup>7</sup> This column does not include expenses of the underlying funds in which each fund invests.

<sup>8</sup> This column reflects the net effective expense ratios for each fund and class, which include each class's expense ratio combined with the weighted average net expense ratio of the underlying funds for the periods presented. Refer to the expense example for further information regarding fees and expenses.

<sup>9</sup> Unaudited.

<sup>10</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Certain fees (including, where applicable, fees for distribution services) are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>11</sup> Refer to Note 5 for further information on mortgage dollar rolls.

<sup>12</sup> Rates do not include the fund's portfolio activity with respect to any Central Funds, if applicable.

<sup>13</sup> Amount is either less than 1% or there is no turnover.

Refer to the notes to financial statements.

American Funds Insurance Series 369

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of American Funds Insurance Series and Shareholders of Global Growth Fund, Global Small Capitalization Fund, Growth Fund, International Fund, New World Fund<sup>®</sup>, Washington Mutual Investors Fund, Capital World Growth and Income Fund<sup>®</sup>, Growth-Income Fund, International Growth and Income Fund, Capital Income Builder<sup>®</sup>, Asset Allocation Fund, American Funds<sup>®</sup> Global Balanced Fund, The Bond Fund of America<sup>®</sup>, Capital World Bond Fund<sup>®</sup>, American High-Income Trust<sup>®</sup>, American Funds Mortgage Fund<sup>®</sup>, Ultra-Short Bond Fund, U.S. Government Securities Fund<sup>®</sup>, Managed Risk Growth Fund, Managed Risk International Fund, Managed Risk Washington Mutual Investors Fund, Managed Risk Growth-Income Fund and Managed Risk Asset Allocation Fund

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the investment portfolios, of Global Growth Fund, Global Small Capitalization Fund, Growth Fund, International Fund, New World Fund<sup>®</sup>, Washington Mutual Investors Fund, Capital World Growth and Income Fund<sup>®</sup>, Growth-Income Fund, International Growth and Income Fund, Capital Income Builder<sup>®</sup>, Asset Allocation Fund, American Funds<sup>®</sup> Global Balanced Fund (formerly Global Balanced Fund), The Bond Fund of America<sup>®</sup>, Capital World Bond Fund<sup>®</sup>, American High Income Trust<sup>®</sup>, American Funds Mortgage Fund<sup>®</sup>, Ultra-Short Bond Fund, U.S. Government Securities Fund<sup>®</sup>, Managed Risk Growth Fund, Managed Risk International Fund, Managed Risk Washington Mutual Investors Fund, Managed Risk Growth-Income Fund and Managed Risk Asset Allocation Fund (twenty-three of the funds constituting American Funds Insurance Series, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Los Angeles, California

February 13, 2023

We have served as the auditor of one or more investment companies in The Capital Group Companies Investment Company Complex since 1934.

370 American Funds Insurance Series

---

| | |
|:---|:---|
| Expense example | **unaudited** |

---

The funds in American Funds Insurance Series serve as the underlying investment vehicle for various insurance products. As an owner of an insurance contract that invests in one of the funds in the series, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. Additional fees are charged by the insurance companies related to the various benefits they provide. This example is intended to help you understand your ongoing costs (in dollars) of investing in the underlying funds so you can compare these costs with the ongoing costs of investing in other mutual funds that serve a similar function in other annuity products. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (July 1, 2022, through December 31, 2022).

**Actual expenses:**

The first line of each share class in the tables on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled "Expenses paid during period" to estimate the expenses you paid on your account during this period.

**Hypothetical example for comparison purposes:**

The second line of each share class in the tables on the following pages provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

**Notes:**

Additional fees are charged by the insurance companies related to the various benefits they provide. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.

Note that the expenses shown in the tables on the following pages are meant to highlight your ongoing costs only and do not reflect any transactional costs. Therefore, the second line of each share class in the tables is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

American Funds Insurance Series 371

Expense example (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br> account value<br> 7/1/2022** | **Ending<br> account value<br> 12/31/2022** | **Expenses**<br> **paid during**<br> **period<sup>1</sup>** | **Annualized<br> expense<br> ratio** |
| **Global Growth Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1045.68 | $2.11 | .41% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.14 | 2.09 | .41 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1044.04 | 3.40 | .66 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.88 | 3.36 | .66 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1043.99 | 3.40 | .66 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.88 | 3.36 | .66 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1042.74 | 4.69 | .91 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.62 | 4.63 | .91 |
| **Global Small Capitalization Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1038.40 | $3.34 | .65% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1021.93 | 3.31 | .65 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1036.94 | 4.62 | .90 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1020.67 | 4.58 | .90 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1037.29 | 4.62 | .90 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1020.67 | 4.58 | .90 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1035.94 | 5.90 | 1.15 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1019.41 | 5.85 | 1.15 |
| **Growth Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1000.70 | $1.77 | .35% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.44 | 1.79 | .35 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 999.41 | 3.02 | .60 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.18 | 3.06 | .60 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 999.43 | 3.02 | .60 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.18 | 3.06 | .60 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 999.93 | 2.67 | .53 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1022.53 | 2.70 | .53 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 998.12 | 4.28 | .85 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.92 | 4.33 | .85 |
| **International Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1025.33 | $2.71 | .53% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1022.53 | 2.70 | .53 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1024.07 | 3.98 | .78 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.27 | 3.97 | .78 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1023.84 | 3.98 | .78 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.27 | 3.97 | .78 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 1024.24 | 3.62 | .71 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1021.63 | 3.62 | .71 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1022.83 | 5.25 | 1.03 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.01 | 5.24 | 1.03 |
| **New World Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1024.46 | $2.91 | .57% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1022.33 | 2.91 | .57 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1022.80 | 4.18 | .82 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.07 | 4.18 | .82 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1022.92 | 4.18 | .82 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.07 | 4.18 | .82 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1021.54 | 5.45 | 1.07 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1019.81 | 5.45 | 1.07 |

---

Refer to the end of the tables for footnotes.

372 American Funds Insurance Series

Expense example (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning<br> account value<br> 7/1/2022** | **Ending<br> account value<br> 12/31/2022** | **Expenses**<br> **paid during**<br> **period<sup>1</sup>** | **Annualized<br> expense<br> ratio** |
| **Washington Mutual Investors Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1052.84 | $1.40 | .27% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.84 | 1.38 | .27 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1052.10 | 2.69 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1052.45 | 2.69 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1051.21 | 3.98 | .77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.32 | 3.92 | .77 |
| **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** | **Capital World Growth and Income Fund** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1051.64 | $2.12 | .41% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.14 | 2.09 | .41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1050.71 | 3.41 | .66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.88 | 3.36 | .66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1050.34 | 3.41 | .66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.88 | 3.36 | .66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1048.71 | 4.70 | .91 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.62 | 4.63 | .91 |
| **Growth-Income Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1042.31 | $1.49 | .29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.74 | 1.48 | .29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1041.04 | 2.78 | .54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.48 | 2.75 | .54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1041.03 | 2.78 | .54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.48 | 2.75 | .54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 1041.33 | 2.42 | .47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1022.84 | 2.40 | .47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1039.68 | 4.06 | .79 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.22 | 4.02 | .79 |
| **International Growth and Income Fund** | **International Growth and Income Fund** | **International Growth and Income Fund** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1049.28 | $3.00 | .58% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1022.28 | 2.96 | .58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1047.38 | 4.28 | .83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.02 | 4.23 | .83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1048.38 | 4.29 | .83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.02 | 4.23 | .83 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1046.04 | 5.57 | 1.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1019.76 | 5.50 | 1.08 |
| **Capital Income Builder** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1030.31 | $1.38 | .27% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.84 | 1.38 | .27 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1029.07 | 2.66 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1028.17 | 2.66 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1026.94 | 3.93 | .77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.32 | 3.92 | .77 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 373

Expense example (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning**<br> **account value**<br> **7/1/2022** | **Ending**<br> **account value**<br> **12/31/2022** | **Expenses**<br> **paid during**<br> **period<sup>1</sup>** | **Annualized**<br> **expense**<br> **ratio** |
| **Asset Allocation Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1030.72 | $1.54 | .30% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.69 | 1.53 | .30 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1029.04 | 2.81 | .55 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.43 | 2.80 | .55 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1029.79 | 2.81 | .55 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.43 | 2.80 | .55 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 1029.98 | 2.46 | .48 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1022.79 | 2.45 | .48 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1027.95 | 4.09 | .80 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.17 | 4.08 | .80 |
| **American Funds Global Balanced Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1023.65 | $2.65 | .52% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1022.93 | 3.93 | .77 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.32 | 3.92 | .77 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1022.09 | 3.92 | .77 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.32 | 3.92 | .77 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1021.56 | 5.20 | 1.02 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.06 | 5.19 | 1.02 |
| **The Bond Fund of America** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $974.47 | $1.00 | .20% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1024.20 | 1.02 | .20 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 973.31 | 2.24 | .45 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.94 | 2.29 | .45 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 972.85 | 2.24 | .45 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.94 | 2.29 | .45 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 971.88 | 3.48 | .70 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.68 | 3.57 | .70 |
| **Capital World Bond Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $983.53 | $2.40 | .48% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1022.79 | 2.45 | .48 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 982.42 | 3.65 | .73 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1021.53 | 3.72 | .73 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 982.33 | 3.65 | .73 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1021.53 | 3.72 | .73 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 981.07 | 4.89 | .98 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.27 | 4.99 | .98 |
| **American High-Income Trust** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1038.86 | $1.59 | .31% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.64 | 1.58 | .31 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1037.88 | 2.88 | .56 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.38 | 2.85 | .56 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1037.22 | 2.88 | .56 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.38 | 2.85 | .56 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 1038.14 | 2.52 | .49 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1022.74 | 2.50 | .49 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1036.07 | 4.16 | .81 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.12 | 4.13 | .81 |

---

Refer to the end of the tables for footnotes.

374 American Funds Insurance Series

Expense example (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br> account value<br> 7/1/2022** | **Ending<br> account value<br> 12/31/2022** | **Expenses**<br> **paid during**<br> **period<sup>1</sup>** | **Annualized<br> expense<br> ratio** |
| **American Funds Mortgage Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $968.01 | $1.64 | .33% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.54 | 1.68 | .33 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 966.87 | 2.88 | .58 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.28 | 2.96 | .58 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 967.70 | 2.93 | .59 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.23 | 3.01 | .59 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 966.53 | 4.16 | .84 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1020.97 | 4.28 | .84 |
| **Ultra-Short Bond Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $1013.26 | $1.57 | .31% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1023.64 | 1.58 | .31 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 1013.23 | 1.52 | .30 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1023.69 | 1.53 | .30 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 1012.64 | 2.84 | .56 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.38 | 2.85 | .56 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 1012.86 | 2.49 | .49 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1022.74 | 2.50 | .49 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 1010.10 | 4.10 | .81 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.12 | 4.13 | .81 |
| **U.S. Government Securities Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 1 – actual return | $1000.00 | $960.56 | $1.09 | .22% |
| &nbsp;&nbsp;&nbsp;Class 1 – assumed 5% return | 1000.00 | 1024.10 | 1.12 | .22 |
| &nbsp;&nbsp;&nbsp;Class 1A – actual return | 1000.00 | 959.29 | 2.27 | .46 |
| &nbsp;&nbsp;&nbsp;Class 1A – assumed 5% return | 1000.00 | 1022.89 | 2.35 | .46 |
| &nbsp;&nbsp;&nbsp;Class 2 – actual return | 1000.00 | 959.68 | 2.27 | .46 |
| &nbsp;&nbsp;&nbsp;Class 2 – assumed 5% return | 1000.00 | 1022.89 | 2.35 | .46 |
| &nbsp;&nbsp;&nbsp;Class 3 – actual return | 1000.00 | 959.92 | 1.93 | .39 |
| &nbsp;&nbsp;&nbsp;Class 3 – assumed 5% return | 1000.00 | 1023.24 | 1.99 | .39 |
| &nbsp;&nbsp;&nbsp;Class 4 – actual return | 1000.00 | 958.46 | 3.50 | .71 |
| &nbsp;&nbsp;&nbsp;Class 4 – assumed 5% return | 1000.00 | 1021.63 | 3.62 | .71 |

---

Refer to the end of the tables for footnotes.

American Funds Insurance Series 375

Expense example (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning<br> account value<br> 7/1/2022** | **Ending<br> account value<br> 12/31/2022** | **Expenses**<br> **paid during**<br> **period<sup>1,2</sup>** | **Annualized**<br> **expense ratio<sup>2</sup>** | **Effective**<br> **expenses paid**<br> **during period<sup>3</sup>** | **Effective**<br> **annualized**<br> **expense ratio<sup>4</sup>** |
| **Managed Risk Growth Fund** | **Managed Risk Growth Fund** | **Managed Risk Growth Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 – actual return | $1000.00 | $968.78 | $1.84 | .37% | $3.42 | .69% |
| &nbsp;&nbsp;&nbsp;Class P1 – assumed 5% return | 1000.00 | 1023.34 | 1.89 | .37 | 3.52 | .69 |
| &nbsp;&nbsp;&nbsp;Class P2 – actual return | 1000.00 | 967.08 | 3.07 | .62 | 4.71 | .95 |
| &nbsp;&nbsp;&nbsp;Class P2 – assumed 5% return | 1000.00 | 1022.08 | 3.16 | .62 | 4.84 | .95 |
| **Managed Risk International Fund** | **Managed Risk International Fund** | **Managed Risk International Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 – actual return | $1000.00 | $1004.86 | $1.82 | .36% | $4.40 | .87% |
| &nbsp;&nbsp;&nbsp;Class P1 – assumed 5% return | 1000.00 | 1023.39 | 1.84 | .36 | 4.43 | .87 |
| &nbsp;&nbsp;&nbsp;Class P2 – actual return | 1000.00 | 1003.52 | 3.13 | .62 | 5.71 | 1.13 |
| &nbsp;&nbsp;&nbsp;Class P2 – assumed 5% return | 1000.00 | 1022.08 | 3.16 | .62 | 5.75 | 1.13 |
| **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** | **Managed Risk Washington Mutual Investors Fund** |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 – actual return | $1000.00 | $1005.83 | $1.87 | .37% | $3.79 | .75% |
| &nbsp;&nbsp;&nbsp;Class P1 – assumed 5% return | 1000.00 | 1023.34 | 1.89 | .37 | 3.82 | .75 |
| &nbsp;&nbsp;&nbsp;Class P2 – actual return | 1000.00 | 1004.38 | 3.18 | .63 | 5.10 | 1.01 |
| &nbsp;&nbsp;&nbsp;Class P2 – assumed 5% return | 1000.00 | 1022.03 | 3.21 | .63 | 5.14 | 1.01 |
| **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** | **Managed Risk Growth-Income Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 – actual return | $1000.00 | $989.69 | $1.81 | .36% | $3.26 | .65% |
| &nbsp;&nbsp;&nbsp;Class P1 – assumed 5% return | 1000.00 | 1023.39 | 1.84 | .36 | 3.31 | .65 |
| &nbsp;&nbsp;&nbsp;Class P2 – actual return | 1000.00 | 989.03 | 3.06 | .61 | 4.51 | .90 |
| &nbsp;&nbsp;&nbsp;Class P2 – assumed 5% return | 1000.00 | 1022.13 | 3.11 | .61 | 4.58 | .90 |
| **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** | **Managed Risk Asset Allocation Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class P1 – actual return | $1000.00 | $1007.60 | $1.82 | .36% | $3.24 | .64% |
| &nbsp;&nbsp;&nbsp;Class P1 – assumed 5% return | 1000.00 | 1023.39 | 1.84 | .36 | 3.26 | .64 |
| &nbsp;&nbsp;&nbsp;Class P2 – actual return | 1000.00 | 1006.19 | 3.03 | .60 | 4.50 | .89 |
| &nbsp;&nbsp;&nbsp;Class P2 – assumed 5% return | 1000.00 | 1022.18 | 3.06 | .60 | 4.53 | .89 |

---

<sup>1</sup> The "expenses paid during period" are equal to the "annualized expense ratio," multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period).

<sup>2</sup> The "expenses paid during period" and "annualized expense ratio" do not include the expenses of the underlying funds in which each fund invests.

<sup>3</sup> The "effective expenses paid during period" are equal to the "effective annualized expense ratio," multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the period).

<sup>4</sup> The "effective annualized expense ratio" reflects the net annualized expense ratio of the class plus the class's pro-rata share of the weighted average expense ratio of the underlying funds in which it invests.

376 American Funds Insurance Series

---

| | |
|:---|:---|
| Liquidity Risk Management Program | **unaudited** |

---

The series has adopted a liquidity risk management program (the "program"). The series' board has designated Capital Research and Management Company ("CRMC") as the administrator of the program. Personnel of CRMC or its affiliates conduct the day-to-day operation of the program pursuant to policies and procedures administered by the Capital Group Liquidity Risk Management Committee.

Under the program, CRMC manages each fund's liquidity risk, which is the risk that the fund could not meet shareholder redemption requests without significant dilution of remaining shareholders' interests in the fund. This risk is managed by monitoring the degree of liquidity of each fund's investments, limiting the amount of each fund's illiquid investments, and utilizing various risk management tools and facilities available to each fund for meeting shareholder redemptions, among other means. CRMC's process of determining the degree of liquidity of each fund's investments is supported by one or more third-party liquidity assessment vendors.

The series' board reviewed a report prepared by CRMC regarding the operation and effectiveness of the program for the period October 1, 2021, through September 30, 2022. No significant liquidity events impacting any of the funds were noted in the report. In addition, CRMC provided its assessment that the program had been effective in managing each fund's liquidity risk.

American Funds Insurance Series 377

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378 American Funds Insurance Series

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American Funds Insurance Series 379

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380 American Funds Insurance Series

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American Funds Insurance Series 381

Board of trustees and other officers

Independent trustees<sup>1</sup>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name and year of birth** | **Year first**<br> **elected**<br> **a trustee**<br> **of the series<sup>2</sup>** | **Principal occupation(s) during past five years** | **Number of**<br> **portfolios in**<br> **fund complex**<br> **overseen by**<br> **trustee** | **Other directorships<sup>3</sup>**<br> **held by trustee** |
| **Francisco G. Cigarroa, MD,** 1957 | 2021 | Professor of Surgery, University of Texas Health San Antonio; Trustee, Ford Foundation; Clayton Research Scholar, Clayton Foundation for Biomedical Research | 86 |  |
| **James G. Ellis,** 1947 | 2010 | Former Dean and Professor of Marketing, Marshall School of Business, University of Southern California | 96 | Advanced Merger Partners; EVe Mobility Acquisition Corp (acquisitions of companies in the electric vehicle market); J. G. Boswell (agricultural production); Mercury General Corporation |
| **Nariman Farvardin,** 1956 | 2018 | President, Stevens Institute of Technology | 91 |  |
| **Jennifer C. Feikin,** 1968 | 2022 | Business Advisor; previously held positions at Google, AOL, 20th Century Fox and McKinsey & Company; Trustee, The Nature Conservancy of Utah; former Trustee, The Nature Conservancy of California; former Director, First Descents | 97 | Hertz Global Holdings, Inc. |
| **Leslie Stone Heisz,** 1961 | 2022 | Former Managing Director, Lazard (retired, 2010); Director, Kaiser Permanente (California public benefit corporation); former Lecturer, UCLA Anderson School of Management | 97 | Edwards Lifesciences; Public Storage |
| **Mary Davis Holt,** 1950 | 2015–2016; 2017 | Principal, Mary Davis Holt Enterprises, LLC (leadership development consulting); former Partner, Flynn Heath Holt Leadership, LLC (leadership consulting); former COO, Time Life Inc. (1993–2003) | 87 |  |
| **Merit E. Janow,** 1958 | 2007 | Dean Emerita and Professor of Practice, International Economic Law & International Affairs, Columbia University, School of International and Public Affairs | 93 | Aptiv (autonomous and green vehicle technology); Mastercard Incorporated |
| **Margaret Spellings,** 1957<br> Chair of the Board (Independent and Non-Executive) | 2010 | President and CEO, Texas 2036; former President, Margaret Spellings & Company (public policy and strategic consulting); former President, The University of North Carolina; former President, George W. Bush Presidential Center | 91 |  |
| **Alexandra Trower,** 1964 | 2018 | Former Executive Vice President, Global Communications and Corporate Officer, The Estée Lauder Companies | 86 |  |
| **Paul S. Williams,** 1959 | 2020 | Former Partner/Managing Director, Major, Lindsey & Africa (executive recruiting firm) | 86 | Air Transport Services Group, Inc. (aircraft leasing and air cargo transportation); Compass Minerals, Inc. (producer of salt and specialty fertilizers); Public Storage, Inc. |

---

Interested trustees<sup>4,5</sup>

---

| | | | |
|:---|:---|:---|:---|
| **Name, year of birth and**<br> **position with series** | **Year first**<br> **elected** <br> **a trustee**<br> **or officer**<br> **of the series<sup>2</sup>** | **Number of**<br> **portfolios in**<br> **fund complex**<br> **overseen by**<br> **trustee** | **Other directorships<sup>3</sup>**<br> **held by trustee** |
| **Donald D. O'Neal,** 1960<br> Co-President and Trustee | 1998 Partner — Capital International Investors, Capital Research and Management Company; Partner — Capital International Investors, Capital Bank and Trust Company<sup>5</sup> | 35 |  |
| **Michael C. Gitlin,** 1970<br> Trustee | 2019 Partner — Capital Fixed Income Investors, Capital Research and Management Company; Vice Chairman and Director, Capital Research and Management Company; Director, The Capital Group Companies, Inc.<sup>5</sup> | 86 |  |

---

**The series statement of additional information includes further details about the series trustees and is available without charge upon request by calling American Funds Service Company at (800) 421-4225 or by visiting the Capital Group website at capitalgroup.com/afis. The address for all trustees and officers of the series is 333 South Hope Street, Los Angeles, CA 90071. Attention: Secretary.**

382 American Funds Insurance Series

Other officers<sup>5</sup>

---

| | | |
|:---|:---|:---|
| **Name, year of birth and**<br> **position with series** | **Year first**<br> **elected**<br> **an officer**<br> **of the series<sup>2</sup>** | **Principal occupation(s) during past five years and positions held with affiliated entities**<br> **or the principal underwriter of the series** |
| **Alan N. Berro,** 1960<br> Co-President | 1998 | Partner — Capital World Investors, Capital Research and Management Company; Partner — Capital World Investors, Capital Bank and Trust Company<sup>5</sup>; Director, The Capital Group Companies, Inc.<sup>5</sup> |
| **Maria Manotok,** 1974 Principal Executive Officer | 2012 | Senior Vice President and Senior Counsel — Fund Business Management Group, Capital Research and Management Company; Chair, Senior Vice President, Senior Counsel and Director, Capital International, Inc.<sup>5</sup>; Senior Vice President, Secretary and Director, Capital Group Companies Global<sup>5</sup>; Senior Vice President, Secretary and Director, Capital Group International, Inc.<sup>5</sup> |
| **Michael W. Stockton,** 1967<br> Executive Vice President | 2021 | Senior Vice President — Fund Business Management Group, Capital Research and Management Company |
| **Patrice Collette,** 1967<br> Senior Vice President | 2022 | Partner — Capital World Investors, Capital International, Inc.<sup>5</sup> |
| **Peter Eliot,** 1971<br> Senior Vice President | 2022 | Partner — Capital International Investors, Capital Research and Management Company |
| **Irfan M. Furniturewala,** 1971<br> Senior Vice President | 2022 | Partner — Capital International Investors, Capital Research and Management Company |
| **Sung Lee,** 1966 <br> Senior Vice President | 2008 | Partner — Capital Research Global Investors, Capital International, Inc.<sup>5</sup>; Director, The Capital Group Companies, Inc.<sup>5</sup> |
| **Keiko McKibben,** 1969<br> Senior Vice President | 2010 | Partner — Capital Research Global Investors, Capital Research and Management Company |
| **Carlos A. Schonfeld,** 1971<br> Senior Vice President | 2022 | Partner — Capital International Investors, Capital Research and Management Company; Director, Capital International Limited<sup>5</sup> |
| **Alan J. Wilson,** 1961 <br> Senior Vice President | 2022 | Partner — Capital World Investors, Capital Research and Management Company; Director, Capital Research and Management Company |
| **Steven I. Koszalka,** 1964<br> Secretary | 2003 | Vice President — Fund Business Management Group, Capital Research and Management Company |
| **Gregory F. Niland,** 1971<br> Treasurer | 2008 | Vice President — Investment Operations, Capital Research and Management Company |
| **Susan K. Countess,** 1966<br> Assistant Secretary | 2014 | Associate — Fund Business Management Group, Capital Research and Management Company |
| **Sandra Chuon,** 1972<br> Assistant Treasurer | 2019 | Vice President — Investment Operations, Capital Research and Management Company |
| **Brian C. Janssen,** 1972<br> Assistant Treasurer | 2015 | Senior Vice President — Investment Operations, Capital Research and Management Company |

---

<sup>1</sup> The term independent trustee refers to a trustee who is not an "interested person" of the series within the meaning of the Investment Company Act of 1940.

<sup>2</sup> Trustees and officers of the series serve until their resignation, removal or retirement.

<sup>3</sup> This includes all directorships/trusteeships (other than those in the American Funds or other funds managed by Capital Research and Management Company or its affiliates) that are held by each trustee as a trustee or director of a public company or a registered investment company.

<sup>4</sup> The term interested trustee refers to a trustee who is an "interested person" within the meaning of the Investment Company Act of 1940, on the basis of their affiliation with the series investment adviser, Capital Research and Management Company, or affiliated entities (including the series principal underwriter).

<sup>5</sup> Company affiliated with Capital Research and Management Company.

American Funds Insurance Series 383

**Office of the series**

333 South Hope Street

Los Angeles, CA 90071-1406

**Investment adviser**

Capital Research and Management Company

333 South Hope Street

Los Angeles, CA 90071-1406

**Investment subadviser**

Milliman Financial Risk Management LLC

(Managed Risk Funds only)

71 South Wacker Drive, 31st Floor

Chicago, IL 60606-4637

**Custodian of assets**

State Street Bank and Trust Company

One Lincoln Street

Boston, MA 02111-2900

**Counsel**

Morgan, Lewis & Bockius LLP

One Federal Street

Boston, MA 02110-1726

**Independent registered public accounting firm**

PricewaterhouseCoopers LLP

601 South Figueroa Street

Los Angeles, CA 90017-3874

384 American Funds Insurance Series

**Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the series prospectuses and summary prospectuses, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com/afis.**

"American Funds Proxy Voting Procedures and Principles" — which describes how we vote proxies relating to portfolio securities — is available on the Capital Group website or upon request by calling AFS. The series files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on the Capital Group website.

American Funds Insurance Series files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. This filing is available free of charge on the SEC website and our website.

This report is for the information of American Funds Insurance Series investors, but it also may be used as sales literature when preceded or accompanied by the current prospectuses or summary prospectuses for American Funds Insurance Series and the prospectus for the applicable insurance contract, which give details about charges, expenses, investment objectives and operating policies of the series. If used as sales material after March 31, 2023, this report must be accompanied by a statistical update for the most recently completed calendar quarter.

Fund attribution data was produced using FactSet, a third-party software system, based on daily portfolios. Securities in their initial period of acquisition may not be included in this analysis. The analysis includes equity investments only and excludes forward contracts and fixed income investments, if applicable. It does not account for buy-and-sell transactions that might have occurred intraday. As a result, average portfolio weight percentages are approximate, and the actual average portfolio weight percentages might be higher or lower. Data elements, such as pricing, income, market cap, etc., were provided by FactSet. The indexes provided for attribution are based on FactSet's methodology. The indexes are broad-based market benchmarks and may not be used by Capital Group<sup>®</sup> as the sole comparative index for the funds. Capital Group believes the software and information from FactSet to be reliable. However, Capital Group cannot be responsible for inaccuracies, incomplete information or updating of information by FactSet.

Hedge instruments, including exchange-traded futures contracts and exchange-traded put options, may not provide an effective hedge of the underlying securities because changes in the prices of such instruments may not track those of the securities they are intended to hedge. In addition, the managed risk strategy may not effectively protect the funds from market declines and will limit the funds' participation in market gains. The use of the managed risk strategy could cause the funds' returns to lag those of the applicable underlying funds in certain rising market conditions.

BLOOMBERG<sup>®</sup> is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

MSCI has not approved, reviewed or produced this report, makes no express or implied warranties or representations and is not liable whatsoever for any data in the report. You may not redistribute the MSCI data or use it as a basis for other indices or investment products.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Capital Group. Copyright© 2023 S&P Dow Jones Indices LLC, a division of S&P Global, and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part is prohibited without written permission of S&P Dow Jones Indices LLC.

American Funds Distributors, Inc., member FINRA.

The Capital Advantage<sup><sup>®</sup></sup>

Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital System<sup>TM</sup> — has resulted in superior outcomes.

**Aligned with investor success**

We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. American Funds Insurance Series portfolio managers average 28 years of investment industry experience, including 23 years at our company, reflecting a career commitment to our long-term approach.<sup>1</sup>

**The Capital System**

The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system.

**American Funds Insurance Series' superior outcomes**

American Funds Insurance Series equity funds have beaten their comparable Lipper indexes in 89% of 10-year periods and 100% of 20-year periods.<sup>2</sup> Our fixed income funds have helped investors achieve diversification through attention to correlation between bonds and equities.<sup>3</sup> We strive to keep management fees competitive. Over the past 20 years, most funds' fees have been below industry averages.<sup>4</sup>

<sup>1</sup> Portfolio manager experience as of the American Funds Insurance Series prospectus dated May 1, 2022.

<sup>2</sup> Based on Class 1 share results for rolling calendar-year periods starting the first full calendar year after each fund's inception through December 31, 2021. Periods covered are the shorter of the fund's lifetime or since the inception date of the comparable Lipper index or average. The comparable Lipper indexes are: Capital World Funds Index (Global Growth Fund, Capital World Growth and Income Fund), Growth Funds Index (Growth Fund), International Funds Index (International Fund), Emerging Markets Funds Index (New World Fund), Growth & Income Funds Index (Washington Mutual Investors Fund, Growth and Income Fund) and Balanced Funds Index (Asset Allocation Fund). The Lipper Global Small-/Mid-Cap Funds Average was used for Global Small Capitalization Fund. Lipper source: Refinitiv Lipper. There have been periods when the fund has lagged the index.

<sup>3</sup> Based on Class 1 share results as of December 31, 2021. Three of our five fixed income funds showed a three-year correlation below 0.3. Standard & Poor's 500 Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in "lockstep," in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction.

<sup>4</sup> Based on management fees for the 20-year period ended December 31, 2021, versus comparable Lipper categories, excluding funds of funds.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

![](x1_c105652x388x1.jpg)

------

ITEM 2. CODE OF ETHICS.

As of the end of the fiscal year, December 31, 2022, the Registrant had adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to the Chief Executive Officer and Chief Financial Officer (respectively, the principal executive officer, the principal financial officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke is the audit committee financial expert, effective March 25, 2022, and is "independent", pursuant to general instructions on Form N-CSR Item 3.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

&nbsp;&nbsp;&nbsp;&nbsp;(a)AUDIT FEES

The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended December 31, 2022 and 2021. These fees were billed to the registrant and were approved by the registrant's audit committee:

**2022: $1,779,918**

**2021: $1,688,978**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)AUDIT RELATED FEES:

Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was security counts pursuant to Rule 17f-2 under the Investment Company Act of 1940 and reviews related to supplemental regulatory filings. Amounts billed to the registrant were as follows:

**2022: $52,549**

**2021: $79,856**

In addition, amounts billed to control affiliates for service provider controls reviews were $121,890 and $119,500 for the fiscal years ended December 31, 2022 and 2021, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)TAX FEES:

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to the following for the fiscal years ended December 31, 2022 and 2021. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

**2022: $81,408**

**2021: $77,514**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)ALL OTHER FEES:

These fees represent other fees for John Hancock Variable Insurance Trust billed to the registrant or to control affiliates.

**2022: $6,265**

**2021: $14,694**

The nature of the services comprising all other fees is advisory services provided to the investment manager.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)(1) Audit Committee Pre-Approval Policies and Procedures:

The Trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:

Audit-Related Fees, Tax Fees and All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)According to the registrant's principal accountant, for the fiscal period ended December 31, 2022, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)The aggregate non-audit fees billed by PwC for services rendered to the registrant and rendered to the registrant's control affiliates for each of the last two fiscal years of the registrant were $1,229,515, for the fiscal year ended December 31, 2022 and $1,075,452 for the fiscal year ended December 31, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's

principal accountant(s) to the control affiliates and has determined that the services that were not pre- approved are compatible with maintaining the principal accountant(s)' independence.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Frances G. Rathke – Chairperson, effective March 25, 2022

Peter S. Burgess - retired effective December 31, 2022.

William H. Cunningham

Patricia Lizarraga, effective September 20, 2022

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ------

![](img0ed7f0741.gif)

![](img852fa6352.gif)

## JOHN HANCOCK

## Variable Insurance Trust
Annual report

December 31, 2022

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.9%** | **COMMON STOCKS – 96.9%** |  |
| **Communication services – 7.1%** |  |  |
| **Diversified telecommunication services – 0.9%** | **Diversified telecommunication services – 0.9%** |  |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1436556 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26446996 |
| Lumen Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002329 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33357458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60806783 |
| **Entertainment – 1.3%** | **Entertainment – 1.3%** |  |
| Activision Blizzard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10985997 |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6505963 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997563 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26435992 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3289258 |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31929877 |
| Warner Brothers Discovery, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4221852 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85366502 |
| **Interactive media and services – 3.9%** | **Interactive media and services – 3.9%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106648542 |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95908878 |
| Match Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366922 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55328601 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260252943 |
| **Media – 0.8%** | **Media – 0.8%** |  |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7577868 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31045597 |
| DISH Network Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710438 |
| Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876532 |
| Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806956 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414850 |
| News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443925 |
| Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3368433 |
| Paramount Global, Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718350 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625794 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51588743 |
| **Wireless telecommunication services – 0.2%** | **Wireless telecommunication services – 0.2%** |  |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16988580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475003551 |
| **Consumer discretionary – 9.5%** |  |  |
| **Auto components – 0.1%** | **Auto components – 0.1%** |  |
| Aptiv PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086574 |
| BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7008230 |
| **Automobiles – 1.3%** | **Automobiles – 1.3%** |  |
| Ford Motor Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9259469 |
| General Motors Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9887940 |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66139653 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85287062 |
| **Distributors – 0.2%** | **Distributors – 0.2%** |  |
| Genuine Parts Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4947117 |
| LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806642 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10166655 |
| **Hotels, restaurants and leisure – 1.9%** | **Hotels, restaurants and leisure – 1.9%** |  |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16130301 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798160 |
| Carnival Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603851 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7765782 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3418273 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2505858 |
| Expedia Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684852 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6987076 |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184205 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8280220 |

---

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| McDonald's Corp. | &nbsp;&nbsp;148316 | $&nbsp;&nbsp;&nbsp;39085715 |
| MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;65775 | &nbsp;&nbsp;&nbsp;&nbsp;2205436 |
| Norwegian Cruise Line Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;84949 | &nbsp;&nbsp;&nbsp;&nbsp;1039776 |
| Royal Caribbean Cruises, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44220 | &nbsp;&nbsp;&nbsp;&nbsp;2185795 |
| Starbucks Corp. | &nbsp;&nbsp;231309 | &nbsp;&nbsp;&nbsp;22945853 |
| Wynn Resorts, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20864 | &nbsp;&nbsp;&nbsp;&nbsp;1720654 |
| Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57362 | &nbsp;&nbsp;&nbsp;&nbsp;7346925 |
|  |  | 130888732 |
| **Household durables – 0.3%** | **Household durables – 0.3%** |  |
| D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63746 | &nbsp;&nbsp;&nbsp;&nbsp;5682318 |
| Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31103 | &nbsp;&nbsp;&nbsp;&nbsp;2870496 |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;51404 | &nbsp;&nbsp;&nbsp;&nbsp;4652062 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10631 | &nbsp;&nbsp;&nbsp;&nbsp;1086701 |
| Newell Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992432 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp;2869025 |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46669 | &nbsp;&nbsp;&nbsp;&nbsp;2124840 |
| Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10989 | &nbsp;&nbsp;&nbsp;&nbsp;1554504 |
|  |  | &nbsp;&nbsp;&nbsp;21832378 |
| **Internet and direct marketing retail – 2.4%** | **Internet and direct marketing retail – 2.4%** |  |
| Amazon.com, Inc. (A) | 1786759 | 150087756 |
| eBay, Inc. | &nbsp;&nbsp;110749 | &nbsp;&nbsp;&nbsp;&nbsp;4592761 |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25524 | &nbsp;&nbsp;&nbsp;&nbsp;3057265 |
|  |  | 157737782 |
| **Leisure products – 0.0%** | **Leisure products – 0.0%** |  |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26168 | &nbsp;&nbsp;&nbsp;&nbsp;1596510 |
| **Multiline retail – 0.5%** | **Multiline retail – 0.5%** |  |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45761 | &nbsp;&nbsp;&nbsp;11268646 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42553 | &nbsp;&nbsp;&nbsp;&nbsp;6018696 |
| Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;93478 | &nbsp;&nbsp;&nbsp;13931961 |
|  |  | &nbsp;&nbsp;&nbsp;31219303 |
| **Specialty retail – 2.3%** | **Specialty retail – 2.3%** |  |
| Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12225 | &nbsp;&nbsp;&nbsp;&nbsp;1797442 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;9689621 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46024 | &nbsp;&nbsp;&nbsp;&nbsp;1939451 |
| Best Buy Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40399 | &nbsp;&nbsp;&nbsp;&nbsp;3240404 |
| CarMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32087 | &nbsp;&nbsp;&nbsp;&nbsp;1953777 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;128844 | &nbsp;&nbsp;&nbsp;25670879 |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12852 | &nbsp;&nbsp;&nbsp;10847474 |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70543 | &nbsp;&nbsp;&nbsp;&nbsp;8187926 |
| The Home Depot, Inc. | &nbsp;&nbsp;207189 | &nbsp;&nbsp;&nbsp;65442718 |
| The TJX Companies, Inc. | &nbsp;&nbsp;236194 | &nbsp;&nbsp;&nbsp;18801042 |
| Tractor Supply Company | &nbsp;&nbsp;&nbsp;&nbsp;22377 | &nbsp;&nbsp;&nbsp;&nbsp;5034154 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10446 | &nbsp;&nbsp;&nbsp;&nbsp;4899905 |
|  |  | 157504793 |
| **Textiles, apparel and luxury goods – 0.5%** | **Textiles, apparel and luxury goods – 0.5%** |  |
| NIKE, Inc., Class B | &nbsp;&nbsp;254745 | &nbsp;&nbsp;&nbsp;29807712 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913834 |
| Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50762 | &nbsp;&nbsp;&nbsp;&nbsp;1933017 |
| VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66571 | &nbsp;&nbsp;&nbsp;&nbsp;1838025 |
|  |  | &nbsp;&nbsp;&nbsp;34492588 |
|  |  | 637734033 |
| **Consumer staples – 7.0%** |  |  |
| **Beverages – 1.9%** | **Beverages – 1.9%** |  |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;36859 | &nbsp;&nbsp;&nbsp;&nbsp;2420899 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;32382 | &nbsp;&nbsp;&nbsp;&nbsp;7504529 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;171282 | &nbsp;&nbsp;&nbsp;&nbsp;6107916 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;37938 | &nbsp;&nbsp;&nbsp;&nbsp;1954566 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;77538 | &nbsp;&nbsp;&nbsp;&nbsp;7872433 |
| PepsiCo, Inc. | &nbsp;&nbsp;278217 | &nbsp;&nbsp;&nbsp;50262683 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>1</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| The Coca-Cola Company | 784636 | $&nbsp;&nbsp;&nbsp;49910696 |
|  |  | 126033722 |
| **Food and staples retailing – 1.5%** | **Food and staples retailing – 1.5%** |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;89299 | &nbsp;&nbsp;&nbsp;40764994 |
| Sysco Corp. | 102707 | &nbsp;&nbsp;&nbsp;&nbsp;7851950 |
| The Kroger Company | 131269 | &nbsp;&nbsp;&nbsp;&nbsp;5851972 |
| Walgreens Boots Alliance, Inc. | 144610 | &nbsp;&nbsp;&nbsp;&nbsp;5402630 |
| Walmart, Inc. | 287351 | &nbsp;&nbsp;&nbsp;40743498 |
|  |  | 100615044 |
| **Food products – 1.2%** | **Food products – 1.2%** |  |
| Archer-Daniels-Midland Company | 113006 | &nbsp;&nbsp;&nbsp;10492607 |
| Campbell Soup Company | &nbsp;&nbsp;40598 | &nbsp;&nbsp;&nbsp;&nbsp;2303937 |
| Conagra Brands, Inc. | &nbsp;&nbsp;96783 | &nbsp;&nbsp;&nbsp;&nbsp;3745502 |
| General Mills, Inc. | 120091 | &nbsp;&nbsp;&nbsp;10069630 |
| Hormel Foods Corp. | &nbsp;&nbsp;58343 | &nbsp;&nbsp;&nbsp;&nbsp;2657524 |
| Kellogg Company | &nbsp;&nbsp;51423 | &nbsp;&nbsp;&nbsp;&nbsp;3663375 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;28973 | &nbsp;&nbsp;&nbsp;&nbsp;2589027 |
| McCormick & Company, Inc. | &nbsp;&nbsp;50494 | &nbsp;&nbsp;&nbsp;&nbsp;4185448 |
| Mondelez International, Inc., Class A | 276298 | &nbsp;&nbsp;&nbsp;18415262 |
| The Hershey Company | &nbsp;&nbsp;29608 | &nbsp;&nbsp;&nbsp;&nbsp;6856325 |
| The JM Smucker Company | &nbsp;&nbsp;21481 | &nbsp;&nbsp;&nbsp;&nbsp;3403879 |
| The Kraft Heinz Company | 160576 | &nbsp;&nbsp;&nbsp;&nbsp;6537049 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;58385 | &nbsp;&nbsp;&nbsp;&nbsp;3634466 |
|  |  | &nbsp;&nbsp;&nbsp;78554031 |
| **Household products – 1.5%** | **Household products – 1.5%** |  |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;48969 | &nbsp;&nbsp;&nbsp;&nbsp;3947391 |
| Colgate-Palmolive Company | 168153 | &nbsp;&nbsp;&nbsp;13248775 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;68062 | &nbsp;&nbsp;&nbsp;&nbsp;9239417 |
| The Clorox Company | &nbsp;&nbsp;24829 | &nbsp;&nbsp;&nbsp;&nbsp;3484254 |
| The Procter & Gamble Company | 481719 | &nbsp;&nbsp;&nbsp;73009332 |
|  |  | 102929169 |
| **Personal products – 0.2%** | **Personal products – 0.2%** |  |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;46730 | &nbsp;&nbsp;&nbsp;11594180 |
| **Tobacco – 0.7%** | **Tobacco – 0.7%** |  |
| Altria Group, Inc. | 363034 | &nbsp;&nbsp;&nbsp;16594284 |
| Philip Morris International, Inc. | 312503 | &nbsp;&nbsp;&nbsp;31628429 |
|  |  | &nbsp;&nbsp;&nbsp;48222713 |
|  |  | 467948859 |
| **Energy – 5.1%** |  |  |
| **Energy equipment and services – 0.4%** | **Energy equipment and services – 0.4%** |  |
| Baker Hughes Company | 203963 | &nbsp;&nbsp;&nbsp;&nbsp;6023027 |
| Halliburton Company | 182834 | &nbsp;&nbsp;&nbsp;&nbsp;7194518 |
| Schlumberger, Ltd. | 285132 | &nbsp;&nbsp;&nbsp;15243157 |
|  |  | &nbsp;&nbsp;&nbsp;28460702 |
| **Oil, gas and consumable fuels – 4.7%** | **Oil, gas and consumable fuels – 4.7%** |  |
| APA Corp. | &nbsp;&nbsp;65826 | &nbsp;&nbsp;&nbsp;&nbsp;3072758 |
| Chevron Corp. | 363038 | &nbsp;&nbsp;&nbsp;65161691 |
| ConocoPhillips | 256635 | &nbsp;&nbsp;&nbsp;30282930 |
| Coterra Energy, Inc. | 160387 | &nbsp;&nbsp;&nbsp;&nbsp;3940709 |
| Devon Energy Corp. | 132004 | &nbsp;&nbsp;&nbsp;&nbsp;8119566 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;35834 | &nbsp;&nbsp;&nbsp;&nbsp;4901375 |
| EOG Resources, Inc. | 118143 | &nbsp;&nbsp;&nbsp;15301881 |
| EQT Corp. | &nbsp;&nbsp;74581 | &nbsp;&nbsp;&nbsp;&nbsp;2523075 |
| Exxon Mobil Corp. | 840169 | &nbsp;&nbsp;&nbsp;92670641 |
| Hess Corp. | &nbsp;&nbsp;56175 | &nbsp;&nbsp;&nbsp;&nbsp;7966739 |
| Kinder Morgan, Inc. | 399686 | &nbsp;&nbsp;&nbsp;&nbsp;7226323 |
| Marathon Oil Corp. | 136597 | &nbsp;&nbsp;&nbsp;&nbsp;3697681 |
| Marathon Petroleum Corp. | 100519 | &nbsp;&nbsp;&nbsp;11699406 |
| Occidental Petroleum Corp. | 150226 | &nbsp;&nbsp;&nbsp;&nbsp;9462736 |
| ONEOK, Inc. | &nbsp;&nbsp;90085 | &nbsp;&nbsp;&nbsp;&nbsp;5918585 |
| Phillips 66 | &nbsp;&nbsp;96977 | &nbsp;&nbsp;&nbsp;10093366 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Pioneer Natural Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;48114 | $&nbsp;&nbsp;&nbsp;10988756 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45672 | &nbsp;&nbsp;&nbsp;&nbsp;3356892 |
| The Williams Companies, Inc. | &nbsp;&nbsp;245648 | &nbsp;&nbsp;&nbsp;&nbsp;8081819 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79422 | &nbsp;&nbsp;&nbsp;10075475 |
|  |  | 314542404 |
|  |  | 343003106 |
| **Financials – 11.3%** |  |  |
| **Banks – 3.7%** | **Banks – 3.7%** |  |
| Bank of America Corp. | 1409272 | &nbsp;&nbsp;&nbsp;46675089 |
| Citigroup, Inc. | &nbsp;&nbsp;390429 | &nbsp;&nbsp;&nbsp;17659104 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;99919 | &nbsp;&nbsp;&nbsp;&nbsp;3933811 |
| Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26372 | &nbsp;&nbsp;&nbsp;&nbsp;1762968 |
| Fifth Third Bancorp | &nbsp;&nbsp;138331 | &nbsp;&nbsp;&nbsp;&nbsp;4538640 |
| First Republic Bank | &nbsp;&nbsp;&nbsp;&nbsp;36834 | &nbsp;&nbsp;&nbsp;&nbsp;4489696 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;290737 | &nbsp;&nbsp;&nbsp;&nbsp;4099392 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;591188 | &nbsp;&nbsp;&nbsp;79278311 |
| KeyCorp | &nbsp;&nbsp;188019 | &nbsp;&nbsp;&nbsp;&nbsp;3275291 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35403 | &nbsp;&nbsp;&nbsp;&nbsp;5135559 |
| Regions Financial Corp. | &nbsp;&nbsp;188368 | &nbsp;&nbsp;&nbsp;&nbsp;4061214 |
| Signature Bank | &nbsp;&nbsp;&nbsp;&nbsp;12686 | &nbsp;&nbsp;&nbsp;&nbsp;1461681 |
| SVB Financial Group (A) | &nbsp;&nbsp;&nbsp;&nbsp;11910 | &nbsp;&nbsp;&nbsp;&nbsp;2740967 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82678 | &nbsp;&nbsp;&nbsp;13058163 |
| Truist Financial Corp. | &nbsp;&nbsp;267393 | &nbsp;&nbsp;&nbsp;11505921 |
| U.S. Bancorp | &nbsp;&nbsp;272568 | &nbsp;&nbsp;&nbsp;11886690 |
| Wells Fargo & Company | &nbsp;&nbsp;764655 | &nbsp;&nbsp;&nbsp;31572605 |
| Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;30334 | &nbsp;&nbsp;&nbsp;&nbsp;1491219 |
|  |  | 248626321 |
| **Capital markets – 3.0%** | **Capital markets – 3.0%** |  |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21806 | &nbsp;&nbsp;&nbsp;&nbsp;6789734 |
| BlackRock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30394 | &nbsp;&nbsp;&nbsp;21538100 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21381 | &nbsp;&nbsp;&nbsp;&nbsp;2682674 |
| CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72459 | &nbsp;&nbsp;&nbsp;12184705 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;3071664 |
| Franklin Resources, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;57265 | &nbsp;&nbsp;&nbsp;&nbsp;1510651 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;112582 | &nbsp;&nbsp;&nbsp;11549787 |
| Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;91704 | &nbsp;&nbsp;&nbsp;&nbsp;1649755 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7588 | &nbsp;&nbsp;&nbsp;&nbsp;2116217 |
| Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31813 | &nbsp;&nbsp;&nbsp;&nbsp;8863738 |
| Morgan Stanley | &nbsp;&nbsp;269959 | &nbsp;&nbsp;&nbsp;22951914 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16229 | &nbsp;&nbsp;&nbsp;&nbsp;7549244 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68329 | &nbsp;&nbsp;&nbsp;&nbsp;4191984 |
| Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42010 | &nbsp;&nbsp;&nbsp;&nbsp;3717465 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39158 | &nbsp;&nbsp;&nbsp;&nbsp;4184032 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68683 | &nbsp;&nbsp;&nbsp;23004684 |
| State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74110 | &nbsp;&nbsp;&nbsp;&nbsp;5748713 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45498 | &nbsp;&nbsp;&nbsp;&nbsp;4962012 |
| The Bank of New York Mellon Corp. | &nbsp;&nbsp;148246 | &nbsp;&nbsp;&nbsp;&nbsp;6748158 |
| The Charles Schwab Corp. | &nbsp;&nbsp;307823 | &nbsp;&nbsp;&nbsp;25629343 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68815 | &nbsp;&nbsp;&nbsp;23629695 |
|  |  | 204274269 |
| **Consumer finance – 0.5%** | **Consumer finance – 0.5%** |  |
| American Express Company | &nbsp;&nbsp;120916 | &nbsp;&nbsp;&nbsp;17865339 |
| Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;77375 | &nbsp;&nbsp;&nbsp;&nbsp;7192780 |
| Discover Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;55070 | &nbsp;&nbsp;&nbsp;&nbsp;5387498 |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;97120 | &nbsp;&nbsp;&nbsp;&nbsp;3191363 |
|  |  | &nbsp;&nbsp;&nbsp;33636980 |
| **Diversified financial services – 1.7%** | **Diversified financial services – 1.7%** |  |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;363842 | 112390794 |
| **Insurance – 2.4%** | **Insurance – 2.4%** |  |
| Aflac, Inc. | &nbsp;&nbsp;115925 | &nbsp;&nbsp;&nbsp;&nbsp;8339645 |
| American International Group, Inc. | &nbsp;&nbsp;153295 | &nbsp;&nbsp;&nbsp;&nbsp;9694376 |
| Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;42521 | &nbsp;&nbsp;&nbsp;12762253 |
| Arch Capital Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;74416 | &nbsp;&nbsp;&nbsp;&nbsp;4671836 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>2</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;42402 | $&nbsp;&nbsp;&nbsp;&nbsp;7994473 |
| Assurant, Inc. | &nbsp;&nbsp;10727 | &nbsp;&nbsp;&nbsp;&nbsp;1341519 |
| Brown & Brown, Inc. | &nbsp;&nbsp;47261 | &nbsp;&nbsp;&nbsp;&nbsp;2692459 |
| Chubb, Ltd. | &nbsp;&nbsp;84194 | &nbsp;&nbsp;&nbsp;18573196 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;32093 | &nbsp;&nbsp;&nbsp;&nbsp;3286002 |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;7945 | &nbsp;&nbsp;&nbsp;&nbsp;2631940 |
| Globe Life, Inc. | &nbsp;&nbsp;18268 | &nbsp;&nbsp;&nbsp;&nbsp;2202207 |
| Lincoln National Corp. | &nbsp;&nbsp;31227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959293 |
| Loews Corp. | &nbsp;&nbsp;40315 | &nbsp;&nbsp;&nbsp;&nbsp;2351574 |
| Marsh & McLennan Companies, Inc. | 100599 | &nbsp;&nbsp;&nbsp;16647123 |
| MetLife, Inc. | 135067 | &nbsp;&nbsp;&nbsp;&nbsp;9774799 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;46727 | &nbsp;&nbsp;&nbsp;&nbsp;3921330 |
| Prudential Financial, Inc. | &nbsp;&nbsp;74993 | &nbsp;&nbsp;&nbsp;&nbsp;7458804 |
| The Allstate Corp. | &nbsp;&nbsp;54490 | &nbsp;&nbsp;&nbsp;&nbsp;7388844 |
| The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;65143 | &nbsp;&nbsp;&nbsp;&nbsp;4939794 |
| The Progressive Corp. | 117915 | &nbsp;&nbsp;&nbsp;15294755 |
| The Travelers Companies, Inc. | &nbsp;&nbsp;47841 | &nbsp;&nbsp;&nbsp;&nbsp;8969709 |
| W.R. Berkley Corp. | &nbsp;&nbsp;41177 | &nbsp;&nbsp;&nbsp;&nbsp;2988215 |
| Willis Towers Watson PLC | &nbsp;&nbsp;22168 | &nbsp;&nbsp;&nbsp;&nbsp;5421849 |
|  |  | 160305995 |
|  |  | 759234359 |
| **Health care – 15.3%** |  |  |
| **Biotechnology – 2.4%** | **Biotechnology – 2.4%** |  |
| AbbVie, Inc. | 356437 | &nbsp;&nbsp;&nbsp;57603784 |
| Amgen, Inc. | 107839 | &nbsp;&nbsp;&nbsp;28322835 |
| Biogen, Inc. (A) | &nbsp;&nbsp;29254 | &nbsp;&nbsp;&nbsp;&nbsp;8101018 |
| Gilead Sciences, Inc. | 252671 | &nbsp;&nbsp;&nbsp;21691805 |
| Incyte Corp. (A) | &nbsp;&nbsp;37218 | &nbsp;&nbsp;&nbsp;&nbsp;2989350 |
| Moderna, Inc. (A) | &nbsp;&nbsp;67823 | &nbsp;&nbsp;&nbsp;12182367 |
| Regeneron Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21609 | &nbsp;&nbsp;&nbsp;15590677 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;14929926 |
|  |  | 161411762 |
| **Health care equipment and supplies – 2.7%** | **Health care equipment and supplies – 2.7%** |  |
| Abbott Laboratories | 353035 | &nbsp;&nbsp;&nbsp;38759713 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;14644 | &nbsp;&nbsp;&nbsp;&nbsp;3088420 |
| Baxter International, Inc. | 101525 | &nbsp;&nbsp;&nbsp;&nbsp;5174729 |
| Becton, Dickinson and Company | &nbsp;&nbsp;57493 | &nbsp;&nbsp;&nbsp;14620470 |
| Boston Scientific Corp. (A) | 288604 | &nbsp;&nbsp;&nbsp;13353707 |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;43433 | &nbsp;&nbsp;&nbsp;&nbsp;1382907 |
| DexCom, Inc. (A) | &nbsp;&nbsp;79142 | &nbsp;&nbsp;&nbsp;&nbsp;8962040 |
| Edwards Lifesciences Corp. (A) | 124977 | &nbsp;&nbsp;&nbsp;&nbsp;9324534 |
| Hologic, Inc. (A) | &nbsp;&nbsp;50328 | &nbsp;&nbsp;&nbsp;&nbsp;3765038 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;16783 | &nbsp;&nbsp;&nbsp;&nbsp;6846793 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;71991 | &nbsp;&nbsp;&nbsp;19102812 |
| Medtronic PLC | 267859 | &nbsp;&nbsp;&nbsp;20818001 |
| ResMed, Inc. | &nbsp;&nbsp;29518 | &nbsp;&nbsp;&nbsp;&nbsp;6143581 |
| STERIS PLC | &nbsp;&nbsp;20162 | &nbsp;&nbsp;&nbsp;&nbsp;3723720 |
| Stryker Corp. | &nbsp;&nbsp;67878 | &nbsp;&nbsp;&nbsp;16595492 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;9456 | &nbsp;&nbsp;&nbsp;&nbsp;2360501 |
| The Cooper Companies, Inc. | &nbsp;&nbsp;&nbsp;9946 | &nbsp;&nbsp;&nbsp;&nbsp;3288844 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;42298 | &nbsp;&nbsp;&nbsp;&nbsp;5392995 |
|  |  | 182704297 |
| **Health care providers and services – 3.6%** | **Health care providers and services – 3.6%** |  |
| AmerisourceBergen Corp. | &nbsp;&nbsp;32649 | &nbsp;&nbsp;&nbsp;&nbsp;5410266 |
| Cardinal Health, Inc. | &nbsp;&nbsp;54919 | &nbsp;&nbsp;&nbsp;&nbsp;4221624 |
| Centene Corp. (A) | 115227 | &nbsp;&nbsp;&nbsp;&nbsp;9449766 |
| Cigna Corp. | &nbsp;&nbsp;61509 | &nbsp;&nbsp;&nbsp;20380392 |
| CVS Health Corp. | 264658 | &nbsp;&nbsp;&nbsp;24663479 |
| DaVita, Inc. (A) | &nbsp;&nbsp;11227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838320 |
| Elevance Health, Inc. | &nbsp;&nbsp;48383 | &nbsp;&nbsp;&nbsp;24819028 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;43397 | &nbsp;&nbsp;&nbsp;10413544 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;27440 | &nbsp;&nbsp;&nbsp;&nbsp;2191633 |
| Humana, Inc. | &nbsp;&nbsp;25513 | &nbsp;&nbsp;&nbsp;13067503 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Laboratory Corp. of America Holdings | &nbsp;&nbsp;&nbsp;&nbsp;18224 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4291388 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28975 | &nbsp;&nbsp;&nbsp;&nbsp;10869102 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867867 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677435 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;188567 | &nbsp;&nbsp;&nbsp;&nbsp;99974452 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;13248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;240002310 |
| **Life sciences tools and services – 1.9%** | **Life sciences tools and services – 1.9%** |  |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9011624 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816517 |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621992 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2234347 |
| Danaher Corp. | &nbsp;&nbsp;131983 | &nbsp;&nbsp;&nbsp;&nbsp;35030928 |
| Illumina, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;31670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6403674 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;37599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7703659 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6558007 |
| PerkinElmer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3568038 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78982 | &nbsp;&nbsp;&nbsp;&nbsp;43494598 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4135283 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;126091972 |
| **Pharmaceuticals – 4.7%** | **Pharmaceuticals – 4.7%** |  |
| Bristol-Myers Squibb Company | &nbsp;&nbsp;430454 | &nbsp;&nbsp;&nbsp;&nbsp;30971165 |
| Catalent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626121 |
| Eli Lilly & Company | &nbsp;&nbsp;158986 | &nbsp;&nbsp;&nbsp;&nbsp;58163438 |
| Johnson & Johnson | &nbsp;&nbsp;530026 | &nbsp;&nbsp;&nbsp;&nbsp;93629093 |
| Merck & Company, Inc. | &nbsp;&nbsp;510693 | &nbsp;&nbsp;&nbsp;&nbsp;56661388 |
| Organon & Company | &nbsp;&nbsp;&nbsp;&nbsp;51271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431999 |
| Pfizer, Inc. | 1131415 | &nbsp;&nbsp;&nbsp;&nbsp;57973705 |
| Viatris, Inc. | &nbsp;&nbsp;244448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2720706 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94374 | &nbsp;&nbsp;&nbsp;&nbsp;13830510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;317008125 |
|  |  | 1027218466 |
| **Industrials – 8.4%** |  |  |
| **Aerospace and defense – 1.8%** | **Aerospace and defense – 1.8%** |  |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45335 | &nbsp;&nbsp;&nbsp;&nbsp;11248067 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2937267 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857666 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8031909 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47573 | &nbsp;&nbsp;&nbsp;&nbsp;23143789 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29317 | &nbsp;&nbsp;&nbsp;&nbsp;15995648 |
| Raytheon Technologies Corp. | &nbsp;&nbsp;297656 | &nbsp;&nbsp;&nbsp;&nbsp;30039444 |
| Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3019195 |
| The Boeing Company (A) | &nbsp;&nbsp;112526 | &nbsp;&nbsp;&nbsp;&nbsp;21435078 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;124248238 |
| **Air freight and logistics – 0.6%** | **Air freight and logistics – 0.6%** |  |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286619 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427282 |
| FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;48193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347028 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;147537 | &nbsp;&nbsp;&nbsp;&nbsp;25647832 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;39708761 |
| **Airlines – 0.2%** | **Airlines – 0.2%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097332 |
| American Airlines Group, Inc. (A) | &nbsp;&nbsp;131005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666384 |
| Delta Air Lines, Inc. (A) | &nbsp;&nbsp;129262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4247549 |
| Southwest Airlines Company (A) | &nbsp;&nbsp;119616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027471 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Airlines (continued)** | **Airlines (continued)** |  |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;65870 | $&nbsp;&nbsp;&nbsp;&nbsp;2483299 |
|  |  | &nbsp;&nbsp;&nbsp;13522035 |
| **Building products – 0.4%** | **Building products – 0.4%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;25900 | &nbsp;&nbsp;&nbsp;&nbsp;1482516 |
| Allegion PLC | &nbsp;&nbsp;17708 | &nbsp;&nbsp;&nbsp;&nbsp;1863944 |
| Carrier Global Corp. | 169658 | &nbsp;&nbsp;&nbsp;&nbsp;6998393 |
| Johnson Controls International PLC | 138860 | &nbsp;&nbsp;&nbsp;&nbsp;8887040 |
| Masco Corp. | &nbsp;&nbsp;45463 | &nbsp;&nbsp;&nbsp;&nbsp;2121758 |
| Trane Technologies PLC | &nbsp;&nbsp;46713 | &nbsp;&nbsp;&nbsp;&nbsp;7851988 |
|  |  | &nbsp;&nbsp;&nbsp;29205639 |
| **Commercial services and supplies – 0.5%** | **Commercial services and supplies – 0.5%** |  |
| Cintas Corp. | &nbsp;&nbsp;17339 | &nbsp;&nbsp;&nbsp;&nbsp;7830639 |
| Copart, Inc. (A) | &nbsp;&nbsp;86244 | &nbsp;&nbsp;&nbsp;&nbsp;5251397 |
| Republic Services, Inc. | &nbsp;&nbsp;41399 | &nbsp;&nbsp;&nbsp;&nbsp;5340057 |
| Rollins, Inc. | &nbsp;&nbsp;46656 | &nbsp;&nbsp;&nbsp;&nbsp;1704810 |
| Waste Management, Inc. | &nbsp;&nbsp;75827 | &nbsp;&nbsp;&nbsp;11895740 |
|  |  | &nbsp;&nbsp;&nbsp;32022643 |
| **Construction and engineering – 0.1%** | **Construction and engineering – 0.1%** |  |
| Quanta Services, Inc. | &nbsp;&nbsp;28833 | &nbsp;&nbsp;&nbsp;&nbsp;4108703 |
| **Electrical equipment – 0.6%** | **Electrical equipment – 0.6%** |  |
| AMETEK, Inc. | &nbsp;&nbsp;46281 | &nbsp;&nbsp;&nbsp;&nbsp;6466381 |
| Eaton Corp. PLC | &nbsp;&nbsp;80295 | &nbsp;&nbsp;&nbsp;12602300 |
| Emerson Electric Company | 119202 | &nbsp;&nbsp;&nbsp;11450544 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;12868 | &nbsp;&nbsp;&nbsp;&nbsp;1295293 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;23271 | &nbsp;&nbsp;&nbsp;&nbsp;5993911 |
|  |  | &nbsp;&nbsp;&nbsp;37808429 |
| **Industrial conglomerates – 0.9%** | **Industrial conglomerates – 0.9%** |  |
| 3M Company | 111605 | &nbsp;&nbsp;&nbsp;13383672 |
| General Electric Company | 221058 | &nbsp;&nbsp;&nbsp;18522450 |
| Honeywell International, Inc. | 135812 | &nbsp;&nbsp;&nbsp;29104512 |
|  |  | &nbsp;&nbsp;&nbsp;61010634 |
| **Machinery – 1.8%** | **Machinery – 1.8%** |  |
| Caterpillar, Inc. | 106423 | &nbsp;&nbsp;&nbsp;25494694 |
| Cummins, Inc. | &nbsp;&nbsp;28423 | &nbsp;&nbsp;&nbsp;&nbsp;6886609 |
| Deere & Company | &nbsp;&nbsp;56069 | &nbsp;&nbsp;&nbsp;24040144 |
| Dover Corp. | &nbsp;&nbsp;28939 | &nbsp;&nbsp;&nbsp;&nbsp;3918630 |
| Fortive Corp. | &nbsp;&nbsp;71706 | &nbsp;&nbsp;&nbsp;&nbsp;4607111 |
| IDEX Corp. | &nbsp;&nbsp;15215 | &nbsp;&nbsp;&nbsp;&nbsp;3474041 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;56800 | &nbsp;&nbsp;&nbsp;12513040 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;81279 | &nbsp;&nbsp;&nbsp;&nbsp;4246828 |
| Nordson Corp. | &nbsp;&nbsp;10898 | &nbsp;&nbsp;&nbsp;&nbsp;2590673 |
| Otis Worldwide Corp. | &nbsp;&nbsp;84716 | &nbsp;&nbsp;&nbsp;&nbsp;6634110 |
| PACCAR, Inc. | &nbsp;&nbsp;70098 | &nbsp;&nbsp;&nbsp;&nbsp;6937599 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;25879 | &nbsp;&nbsp;&nbsp;&nbsp;7530789 |
| Pentair PLC | &nbsp;&nbsp;33154 | &nbsp;&nbsp;&nbsp;&nbsp;1491267 |
| Snap-on, Inc. | &nbsp;&nbsp;10738 | &nbsp;&nbsp;&nbsp;&nbsp;2453526 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;29799 | &nbsp;&nbsp;&nbsp;&nbsp;2238501 |
| Wabtec Corp. | &nbsp;&nbsp;36665 | &nbsp;&nbsp;&nbsp;&nbsp;3659534 |
| Xylem, Inc. | &nbsp;&nbsp;36324 | &nbsp;&nbsp;&nbsp;&nbsp;4016345 |
|  |  | 122733441 |
| **Professional services – 0.4%** | **Professional services – 0.4%** |  |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;79821 | &nbsp;&nbsp;&nbsp;&nbsp;6168567 |
| Equifax, Inc. | &nbsp;&nbsp;24675 | &nbsp;&nbsp;&nbsp;&nbsp;4795833 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;25725 | &nbsp;&nbsp;&nbsp;&nbsp;3088801 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;27526 | &nbsp;&nbsp;&nbsp;&nbsp;2895460 |
| Robert Half International, Inc. | &nbsp;&nbsp;22088 | &nbsp;&nbsp;&nbsp;&nbsp;1630757 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;31642 | &nbsp;&nbsp;&nbsp;&nbsp;5582282 |
|  |  | &nbsp;&nbsp;&nbsp;24161700 |
| **Road and rail – 0.9%** | **Road and rail – 0.9%** |  |
| CSX Corp. | 431661 | &nbsp;&nbsp;&nbsp;13372858 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;16742 | &nbsp;&nbsp;&nbsp;&nbsp;2919135 |
| Norfolk Southern Corp. | &nbsp;&nbsp;47349 | &nbsp;&nbsp;&nbsp;11667741 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Road and rail (continued)** | **Road and rail (continued)** |  |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;18477 | $&nbsp;&nbsp;&nbsp;&nbsp;5243403 |
| Union Pacific Corp. | 125891 | &nbsp;&nbsp;&nbsp;26068249 |
|  |  | &nbsp;&nbsp;&nbsp;59271386 |
| **Trading companies and distributors – 0.2%** | **Trading companies and distributors – 0.2%** |  |
| Fastenal Company | 115852 | &nbsp;&nbsp;&nbsp;&nbsp;5482117 |
| United Rentals, Inc. (A) | &nbsp;&nbsp;14109 | &nbsp;&nbsp;&nbsp;&nbsp;5014621 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;9127 | &nbsp;&nbsp;&nbsp;&nbsp;5076894 |
|  |  | &nbsp;&nbsp;&nbsp;15573632 |
|  |  | 563375241 |
| **Information technology – 24.9%** |  |  |
| **Communications equipment – 0.9%** | **Communications equipment – 0.9%** |  |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;49686 | &nbsp;&nbsp;&nbsp;&nbsp;6029396 |
| Cisco Systems, Inc. | 834792 | &nbsp;&nbsp;&nbsp;39769491 |
| F5, Inc. (A) | &nbsp;&nbsp;12007 | &nbsp;&nbsp;&nbsp;&nbsp;1723125 |
| Juniper Networks, Inc. | &nbsp;&nbsp;65036 | &nbsp;&nbsp;&nbsp;&nbsp;2078551 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;33643 | &nbsp;&nbsp;&nbsp;&nbsp;8670138 |
|  |  | &nbsp;&nbsp;&nbsp;58270701 |
| **Electronic equipment, instruments and components – 0.6%** | **Electronic equipment, instruments and components – 0.6%** |  |
| Amphenol Corp., Class A | 119914 | &nbsp;&nbsp;&nbsp;&nbsp;9130252 |
| CDW Corp. | &nbsp;&nbsp;27264 | &nbsp;&nbsp;&nbsp;&nbsp;4868805 |
| Corning, Inc. | 153370 | &nbsp;&nbsp;&nbsp;&nbsp;4898638 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;36276 | &nbsp;&nbsp;&nbsp;&nbsp;6205735 |
| TE Connectivity, Ltd. | &nbsp;&nbsp;64478 | &nbsp;&nbsp;&nbsp;&nbsp;7402074 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;9448 | &nbsp;&nbsp;&nbsp;&nbsp;3778350 |
| Trimble, Inc. (A) | &nbsp;&nbsp;49926 | &nbsp;&nbsp;&nbsp;&nbsp;2524259 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;10441 | &nbsp;&nbsp;&nbsp;&nbsp;2677177 |
|  |  | &nbsp;&nbsp;&nbsp;41485290 |
| **IT services – 4.3%** | **IT services – 4.3%** |  |
| Accenture PLC, Class A | 127518 | &nbsp;&nbsp;&nbsp;34026903 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;32045 | &nbsp;&nbsp;&nbsp;&nbsp;2701394 |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;83766 | &nbsp;&nbsp;&nbsp;20008347 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;23632 | &nbsp;&nbsp;&nbsp;&nbsp;3169760 |
| Cognizant Technology Solutions Corp., Class A | 104382 | &nbsp;&nbsp;&nbsp;&nbsp;5969607 |
| DXC Technology Company (A) | &nbsp;&nbsp;46342 | &nbsp;&nbsp;&nbsp;&nbsp;1228063 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;11565 | &nbsp;&nbsp;&nbsp;&nbsp;3790313 |
| Fidelity National Information Services, Inc. | 122565 | &nbsp;&nbsp;&nbsp;&nbsp;8316035 |
| Fiserv, Inc. (A) | 128936 | &nbsp;&nbsp;&nbsp;13031562 |
| FleetCor Technologies, Inc. (A) | &nbsp;&nbsp;15122 | &nbsp;&nbsp;&nbsp;&nbsp;2777609 |
| Gartner, Inc. (A) | &nbsp;&nbsp;15945 | &nbsp;&nbsp;&nbsp;&nbsp;5359752 |
| Global Payments, Inc. | &nbsp;&nbsp;55874 | &nbsp;&nbsp;&nbsp;&nbsp;5549406 |
| IBM Corp. | 182075 | &nbsp;&nbsp;&nbsp;25652547 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;14688 | &nbsp;&nbsp;&nbsp;&nbsp;2578625 |
| Mastercard, Inc., Class A | 172004 | &nbsp;&nbsp;&nbsp;59810951 |
| Paychex, Inc. | &nbsp;&nbsp;64574 | &nbsp;&nbsp;&nbsp;&nbsp;7462171 |
| PayPal Holdings, Inc. (A) | 233138 | &nbsp;&nbsp;&nbsp;16604088 |
| VeriSign, Inc. (A) | &nbsp;&nbsp;18816 | &nbsp;&nbsp;&nbsp;&nbsp;3865559 |
| Visa, Inc., Class A | 329609 | &nbsp;&nbsp;&nbsp;68479566 |
|  |  | 290382258 |
| **Semiconductors and semiconductor equipment – 4.9%** | **Semiconductors and semiconductor equipment – 4.9%** |  |
| Advanced Micro Devices, Inc. (A) | 325437 | &nbsp;&nbsp;&nbsp;21078554 |
| Analog Devices, Inc. | 104790 | &nbsp;&nbsp;&nbsp;17188704 |
| Applied Materials, Inc. | 175376 | &nbsp;&nbsp;&nbsp;17078115 |
| Broadcom, Inc. | &nbsp;&nbsp;81407 | &nbsp;&nbsp;&nbsp;45517096 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;27307 | &nbsp;&nbsp;&nbsp;&nbsp;7235263 |
| First Solar, Inc. (A) | &nbsp;&nbsp;20364 | &nbsp;&nbsp;&nbsp;&nbsp;3050324 |
| Intel Corp. | 827744 | &nbsp;&nbsp;&nbsp;21877274 |
| KLA Corp. | &nbsp;&nbsp;28587 | &nbsp;&nbsp;&nbsp;10778157 |
| Lam Research Corp. | &nbsp;&nbsp;27613 | &nbsp;&nbsp;&nbsp;11605744 |
| Microchip Technology, Inc. | 111377 | &nbsp;&nbsp;&nbsp;&nbsp;7824234 |
| Micron Technology, Inc. | 222387 | &nbsp;&nbsp;&nbsp;11114902 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;8961 | &nbsp;&nbsp;&nbsp;&nbsp;3168699 |
| NVIDIA Corp. | 504793 | &nbsp;&nbsp;&nbsp;73770449 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;52938 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8365792 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;87338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5447271 |
| Qorvo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885765 |
| Qualcomm, Inc. | &nbsp;&nbsp;226390 | &nbsp;&nbsp;&nbsp;&nbsp;24889317 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2947600 |
| SolarEdge Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177156 |
| Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760784 |
| Texas Instruments, Inc. | &nbsp;&nbsp;184198 | &nbsp;&nbsp;&nbsp;&nbsp;30433194 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;331194394 |
| **Software – 8.1%** | **Software – 8.1%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;94346 | &nbsp;&nbsp;&nbsp;&nbsp;31750259 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240629 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;43801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8185093 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;55210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8868934 |
| Ceridian HCM Holding, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979348 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;131937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450400 |
| Gen Digital, Inc. | &nbsp;&nbsp;119359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557863 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56865 | &nbsp;&nbsp;&nbsp;&nbsp;22132995 |
| Microsoft Corp. | 1503464 | &nbsp;&nbsp;&nbsp;&nbsp;360560736 |
| Oracle Corp. | &nbsp;&nbsp;306222 | &nbsp;&nbsp;&nbsp;&nbsp;25030586 |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040728 |
| PTC, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;21312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2558292 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9234195 |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;200586 | &nbsp;&nbsp;&nbsp;&nbsp;26595698 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;40722 | &nbsp;&nbsp;&nbsp;&nbsp;15811131 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9846265 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;541545593 |
| **Technology hardware, storage and peripherals – 6.1%** | **Technology hardware, storage and peripherals – 6.1%** |  |
| Apple, Inc. | 3026681 | &nbsp;&nbsp;&nbsp;&nbsp;393256643 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;261936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4180499 |
| HP, Inc. | &nbsp;&nbsp;183459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4929543 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2660478 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;39371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071308 |
| Western Digital Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;63132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;409090286 |
|  |  | 1671968522 |
| **Materials – 2.6%** |  |  |
| **Chemicals – 1.8%** | **Chemicals – 1.8%** |  |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44713 | &nbsp;&nbsp;&nbsp;&nbsp;13783229 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5120498 |
| Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054513 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3422484 |
| Corteva, Inc. | &nbsp;&nbsp;144865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8515165 |
| Dow, Inc. | &nbsp;&nbsp;144778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7295363 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;100979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930189 |
| Eastman Chemical Company | &nbsp;&nbsp;&nbsp;&nbsp;24757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016210 |
| Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7275525 |
| FMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168922 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5388357 |
| Linde PLC | &nbsp;&nbsp;100467 | &nbsp;&nbsp;&nbsp;&nbsp;32770326 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;51294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4258941 |
| PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5956807 |
| The Mosaic Company | &nbsp;&nbsp;&nbsp;&nbsp;69604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3053527 |
| The Sherwin-Williams Company | &nbsp;&nbsp;&nbsp;&nbsp;47547 | &nbsp;&nbsp;&nbsp;&nbsp;11284330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;122294386 |
| **Construction materials – 0.1%** | **Construction materials – 0.1%** |  |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4249635 |
| Vulcan Materials Company | &nbsp;&nbsp;&nbsp;&nbsp;26792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8941182 |
| **Containers and packaging – 0.3%** | **Containers and packaging – 0.3%** |  |
| Amcor PLC | &nbsp;&nbsp;302948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608111 |
| Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2964961 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Containers and packaging (continued)** | **Containers and packaging (continued)** |  |
| Ball Corp. | &nbsp;&nbsp;63362 | $&nbsp;&nbsp;&nbsp;&nbsp;3240333 |
| International Paper Company | &nbsp;&nbsp;72980 | &nbsp;&nbsp;&nbsp;&nbsp;2527297 |
| Packaging Corp. of America | &nbsp;&nbsp;18897 | &nbsp;&nbsp;&nbsp;&nbsp;2417115 |
| Sealed Air Corp. | &nbsp;&nbsp;29277 | &nbsp;&nbsp;&nbsp;&nbsp;1460337 |
| Westrock Company | &nbsp;&nbsp;51264 | &nbsp;&nbsp;&nbsp;&nbsp;1802442 |
|  |  | &nbsp;&nbsp;&nbsp;18020596 |
| **Metals and mining – 0.4%** | **Metals and mining – 0.4%** |  |
| Freeport-McMoRan, Inc. | 288279 | &nbsp;&nbsp;&nbsp;10954602 |
| Newmont Corp. | 160001 | &nbsp;&nbsp;&nbsp;&nbsp;7552047 |
| Nucor Corp. | &nbsp;&nbsp;52774 | &nbsp;&nbsp;&nbsp;&nbsp;6956141 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;34313 | &nbsp;&nbsp;&nbsp;&nbsp;3352380 |
|  |  | &nbsp;&nbsp;&nbsp;28815170 |
|  |  | 178071334 |
| **Real estate – 2.6%** |  |  |
| **Equity real estate investment trusts – 2.5%** | **Equity real estate investment trusts – 2.5%** |  |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;29933 | &nbsp;&nbsp;&nbsp;&nbsp;4360340 |
| American Tower Corp. | &nbsp;&nbsp;93859 | &nbsp;&nbsp;&nbsp;19884968 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;28189 | &nbsp;&nbsp;&nbsp;&nbsp;4553087 |
| Boston Properties, Inc. | &nbsp;&nbsp;28753 | &nbsp;&nbsp;&nbsp;&nbsp;1943128 |
| Camden Property Trust | &nbsp;&nbsp;21475 | &nbsp;&nbsp;&nbsp;&nbsp;2402623 |
| Crown Castle, Inc. | &nbsp;&nbsp;87298 | &nbsp;&nbsp;&nbsp;11841101 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;57940 | &nbsp;&nbsp;&nbsp;&nbsp;5809644 |
| Equinix, Inc. | &nbsp;&nbsp;18360 | &nbsp;&nbsp;&nbsp;12026351 |
| Equity Residential | &nbsp;&nbsp;68241 | &nbsp;&nbsp;&nbsp;&nbsp;4026219 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;13129 | &nbsp;&nbsp;&nbsp;&nbsp;2782298 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;26996 | &nbsp;&nbsp;&nbsp;&nbsp;3973271 |
| Federal Realty Investment Trust | &nbsp;&nbsp;14679 | &nbsp;&nbsp;&nbsp;&nbsp;1483166 |
| Healthpeak Properties, Inc. | 108776 | &nbsp;&nbsp;&nbsp;&nbsp;2727014 |
| Host Hotels & Resorts, Inc. | 144118 | &nbsp;&nbsp;&nbsp;&nbsp;2313094 |
| Invitation Homes, Inc. | 116892 | &nbsp;&nbsp;&nbsp;&nbsp;3464679 |
| Iron Mountain, Inc. | &nbsp;&nbsp;58600 | &nbsp;&nbsp;&nbsp;&nbsp;2921210 |
| Kimco Realty Corp. | 124682 | &nbsp;&nbsp;&nbsp;&nbsp;2640765 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;23272 | &nbsp;&nbsp;&nbsp;&nbsp;3653471 |
| Prologis, Inc. | 186121 | &nbsp;&nbsp;&nbsp;20981420 |
| Public Storage | &nbsp;&nbsp;31849 | &nbsp;&nbsp;&nbsp;&nbsp;8923771 |
| Realty Income Corp. | 124500 | &nbsp;&nbsp;&nbsp;&nbsp;7897035 |
| Regency Centers Corp. | &nbsp;&nbsp;31046 | &nbsp;&nbsp;&nbsp;&nbsp;1940375 |
| SBA Communications Corp. | &nbsp;&nbsp;21747 | &nbsp;&nbsp;&nbsp;&nbsp;6095902 |
| Simon Property Group, Inc. | &nbsp;&nbsp;65992 | &nbsp;&nbsp;&nbsp;&nbsp;7752740 |
| UDR, Inc. | &nbsp;&nbsp;61572 | &nbsp;&nbsp;&nbsp;&nbsp;2384684 |
| Ventas, Inc. | &nbsp;&nbsp;80579 | &nbsp;&nbsp;&nbsp;&nbsp;3630084 |
| VICI Properties, Inc. | 194154 | &nbsp;&nbsp;&nbsp;&nbsp;6290590 |
| Vornado Realty Trust | &nbsp;&nbsp;32474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675784 |
| Welltower, Inc. | &nbsp;&nbsp;93412 | &nbsp;&nbsp;&nbsp;&nbsp;6123157 |
| Weyerhaeuser Company | 149243 | &nbsp;&nbsp;&nbsp;&nbsp;4626533 |
|  |  | 170128504 |
| **Real estate management and development – 0.1%** | **Real estate management and development – 0.1%** |  |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;64746 | &nbsp;&nbsp;&nbsp;&nbsp;4982852 |
|  |  | 175111356 |
| **Utilities – 3.1%** |  |  |
| **Electric utilities – 2.0%** | **Electric utilities – 2.0%** |  |
| Alliant Energy Corp. | &nbsp;&nbsp;50585 | &nbsp;&nbsp;&nbsp;&nbsp;2792798 |
| American Electric Power Company, Inc. | 103566 | &nbsp;&nbsp;&nbsp;&nbsp;9833592 |
| Constellation Energy Corp. | &nbsp;&nbsp;65890 | &nbsp;&nbsp;&nbsp;&nbsp;5680377 |
| Duke Energy Corp. | 155221 | &nbsp;&nbsp;&nbsp;15986211 |
| Edison International | &nbsp;&nbsp;76894 | &nbsp;&nbsp;&nbsp;&nbsp;4891996 |
| Entergy Corp. | &nbsp;&nbsp;41008 | &nbsp;&nbsp;&nbsp;&nbsp;4613400 |
| Evergy, Inc. | &nbsp;&nbsp;46270 | &nbsp;&nbsp;&nbsp;&nbsp;2911771 |
| Eversource Energy | &nbsp;&nbsp;69841 | &nbsp;&nbsp;&nbsp;&nbsp;5855469 |
| Exelon Corp. | 199932 | &nbsp;&nbsp;&nbsp;&nbsp;8643060 |
| FirstEnergy Corp. | 109430 | &nbsp;&nbsp;&nbsp;&nbsp;4589494 |
| NextEra Energy, Inc. | 396087 | &nbsp;&nbsp;&nbsp;33112873 |
| NRG Energy, Inc. | &nbsp;&nbsp;47404 | &nbsp;&nbsp;&nbsp;&nbsp;1508395 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### 500 Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electric utilities (continued)** | **Electric utilities (continued)** |  |
| PG&E Corp. (A) | 324568 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5277476 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;22789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732876 |
| PPL Corp. | 148410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4336540 |
| The Southern Company | 214294 | &nbsp;&nbsp;&nbsp;&nbsp;15302735 |
| Xcel Energy, Inc. | 110270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7731030 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;134800093 |
| **Gas utilities – 0.0%** | **Gas utilities – 0.0%** |  |
| Atmos Energy Corp. | &nbsp;&nbsp;28201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160486 |
| **Independent power and renewable electricity producers –<br> 0.1%** | **Independent power and renewable electricity producers –<br> 0.1%** |  |
| The AES Corp. | 134651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3872563 |
| **Multi-utilities – 0.9%** | **Multi-utilities – 0.9%** |  |
| Ameren Corp. | &nbsp;&nbsp;52086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631487 |
| CenterPoint Energy, Inc. | 126903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805821 |
| CMS Energy Corp. | &nbsp;&nbsp;58502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3704932 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;71481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6812854 |
| Dominion Energy, Inc. | 167827 | &nbsp;&nbsp;&nbsp;&nbsp;10291152 |
| DTE Energy Company | &nbsp;&nbsp;39057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4590369 |
| NiSource, Inc. | &nbsp;&nbsp;81837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243971 |
| Public Service Enterprise Group, Inc. | 100567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6161740 |
| Sempra Energy | &nbsp;&nbsp;63363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9792118 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;63590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;57996642 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American Water Works Company, Inc. | &nbsp;&nbsp;36647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5585736 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;205415520 |
| TOTAL COMMON STOCKS (Cost $2,861,330,268) | TOTAL COMMON STOCKS (Cost $2,861,330,268) | $6504084347 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 3.3%** | **SHORT-TERM INVESTMENTS – 3.3%** |  |
| **Short-term funds – 3.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 22137618 | $&nbsp;&nbsp;&nbsp;&nbsp;221283201 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $221,205,286) | TOTAL SHORT-TERM INVESTMENTS (Cost $221,205,286) | $&nbsp;&nbsp;&nbsp;&nbsp;221283201 |
| **Total Investments (500 Index Trust)<br> (Cost $3,082,535,554) – 100.2%** | **Total Investments (500 Index Trust)<br> (Cost $3,082,535,554) – 100.2%** | $**6725367548** |
| **Other assets and liabilities, net – (0.2%)** | **Other assets and liabilities, net – (0.2%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(13997525)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**6711370023** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $4,666,062. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$212604872 | &nbsp;&nbsp;&nbsp;&nbsp;$205791300 | &nbsp;&nbsp;&nbsp;&nbsp;$(6813572) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(6813572)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### American Asset Allocation Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Asset Allocation Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;50953723 | $&nbsp;&nbsp;&nbsp;&nbsp;1131172659 |
| TOTAL INVESTMENT COMPANIES (Cost $1,090,439,840) | TOTAL INVESTMENT COMPANIES (Cost $1,090,439,840) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131172659 |
| **Total Investments (American Asset Allocation Trust) (Cost $1,090,439,840) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;**1131172659** |
| **Other assets and liabilities, net - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**36980** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1131209639** |

---

#### American Global Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Global Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177890014 |
| TOTAL INVESTMENT COMPANIES (Cost $174,173,837) | TOTAL INVESTMENT COMPANIES (Cost $174,173,837) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177890014 |
| **Total Investments (American Global Growth Trust) (Cost $174,173,837) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177890014** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(11519)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**177878495** |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### American Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Growth Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9764267 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744915959 |
| TOTAL INVESTMENT COMPANIES (Cost $782,041,812) | TOTAL INVESTMENT COMPANIES (Cost $782,041,812) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744915959 |
| **Total Investments (American Growth Trust) (Cost $782,041,812) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**744915959** |
| **Other assets and liabilities, net - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22866** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**744938825** |

---

#### American Growth-Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American Growth-Income Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;16155907 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811188074 |
| TOTAL INVESTMENT COMPANIES (Cost $761,794,054) | TOTAL INVESTMENT COMPANIES (Cost $761,794,054) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811188074 |
| **Total Investments (American Growth-Income Trust) (Cost $761,794,054) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811188074** |
| **Other assets and liabilities, net - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21591** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811209665** |

---

#### American International Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **INVESTMENT COMPANIES - 100.0%** | **INVESTMENT COMPANIES - 100.0%** |  |
| **American Funds Insurance Series - 100.0%** | **American Funds Insurance Series - 100.0%** |  |
| American International Fund - Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;22125075 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338734905 |
| TOTAL INVESTMENT COMPANIES (Cost $418,854,838) | TOTAL INVESTMENT COMPANIES (Cost $418,854,838) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338734905 |
| **Total Investments (American International Trust) (Cost $418,854,838) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**338734905** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(24274)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**338710631** |

---

#### Blue Chip Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.4%** | **COMMON STOCKS – 99.4%** |  |
| **Communication services – 12.9%** |  |  |
| **Entertainment – 1.9%** | **Entertainment – 1.9%** |  |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52613 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15514521 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6473625 |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4473017 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26461163 |
| **Interactive media and services – 9.9%** | **Interactive media and services – 9.9%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14020276 |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97140983 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24155608 |
| Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6156533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141473400 |
| **Wireless telecommunication services – 1.1%** | **Wireless telecommunication services – 1.1%** |  |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15416240 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183350803 |

---

#### Blue Chip Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer discretionary – 14.6%** |  |  |
| **Automobiles – 1.2%** | **Automobiles – 1.2%** |  |
| Tesla, Inc. (A) | &nbsp;&nbsp;138152 | $&nbsp;&nbsp;&nbsp;17017563 |
| **Hotels, restaurants and leisure – 1.8%** | **Hotels, restaurants and leisure – 1.8%** |  |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5571 | &nbsp;&nbsp;&nbsp;11227125 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10125 | &nbsp;&nbsp;&nbsp;14048336 |
|  |  | &nbsp;&nbsp;&nbsp;25275461 |
| **Internet and direct marketing retail – 7.1%** | **Internet and direct marketing retail – 7.1%** |  |
| Amazon.com, Inc. (A) | 1161056 | &nbsp;&nbsp;&nbsp;97528704 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;59937 | &nbsp;&nbsp;&nbsp;&nbsp;2926124 |
|  |  | 100454828 |
| **Multiline retail – 1.2%** | **Multiline retail – 1.2%** |  |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70861 | &nbsp;&nbsp;&nbsp;17449521 |
| **Specialty retail – 1.6%** | **Specialty retail – 1.6%** |  |
| Ross Stores, Inc. | &nbsp;&nbsp;167712 | &nbsp;&nbsp;&nbsp;19466332 |
| The TJX Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41872 | &nbsp;&nbsp;&nbsp;&nbsp;3333011 |
|  |  | &nbsp;&nbsp;&nbsp;22799343 |
| **Textiles, apparel and luxury goods – 1.7%** | **Textiles, apparel and luxury goods – 1.7%** |  |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32673 | &nbsp;&nbsp;&nbsp;10467776 |
| NIKE, Inc., Class B | &nbsp;&nbsp;118534 | &nbsp;&nbsp;&nbsp;13869663 |
|  |  | &nbsp;&nbsp;&nbsp;24337439 |
|  |  | 207334155 |
| **Financials – 5.2%** |  |  |
| **Capital markets – 3.2%** | **Capital markets – 3.2%** |  |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6076 | &nbsp;&nbsp;&nbsp;&nbsp;2826373 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30631 | &nbsp;&nbsp;&nbsp;10259547 |
| The Charles Schwab Corp. | &nbsp;&nbsp;167055 | &nbsp;&nbsp;&nbsp;13908999 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54052 | &nbsp;&nbsp;&nbsp;18560376 |
|  |  | &nbsp;&nbsp;&nbsp;45555295 |
| **Insurance – 2.0%** | **Insurance – 2.0%** |  |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78183 | &nbsp;&nbsp;&nbsp;17247170 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64515 | &nbsp;&nbsp;&nbsp;10675942 |
|  |  | &nbsp;&nbsp;&nbsp;27923112 |
|  |  | &nbsp;&nbsp;&nbsp;73478407 |
| **Health care – 16.7%** |  |  |
| **Health care equipment and supplies – 3.0%** | **Health care equipment and supplies – 3.0%** |  |
| Align Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7362 | &nbsp;&nbsp;&nbsp;&nbsp;1552646 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;100400 | &nbsp;&nbsp;&nbsp;26641140 |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49242 | &nbsp;&nbsp;&nbsp;12039177 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10431 | &nbsp;&nbsp;&nbsp;&nbsp;2603891 |
|  |  | &nbsp;&nbsp;&nbsp;42836854 |
| **Health care providers and services – 7.0%** | **Health care providers and services – 7.0%** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19253 | &nbsp;&nbsp;&nbsp;&nbsp;9876211 |
| Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32051 | &nbsp;&nbsp;&nbsp;16416202 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;138723 | &nbsp;&nbsp;&nbsp;73548160 |
|  |  | &nbsp;&nbsp;&nbsp;99840573 |
| **Health care technology – 0.3%** | **Health care technology – 0.3%** |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;23014 | &nbsp;&nbsp;&nbsp;&nbsp;3713999 |
| **Life sciences tools and services – 2.8%** | **Life sciences tools and services – 2.8%** |  |
| Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;91046 | &nbsp;&nbsp;&nbsp;24165429 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29973 | &nbsp;&nbsp;&nbsp;16505831 |
|  |  | &nbsp;&nbsp;&nbsp;40671260 |
| **Pharmaceuticals – 3.6%** | **Pharmaceuticals – 3.6%** |  |
| AstraZeneca PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;89438 | &nbsp;&nbsp;&nbsp;&nbsp;6063896 |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;97478 | &nbsp;&nbsp;&nbsp;35661352 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63877 | &nbsp;&nbsp;&nbsp;&nbsp;9361174 |
|  |  | &nbsp;&nbsp;&nbsp;51086422 |
|  |  | 238149108 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Blue Chip Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrials – 1.1%** |  |  |
| **Commercial services and supplies – 0.2%** | **Commercial services and supplies – 0.2%** |  |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7318 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304955 |
| **Industrial conglomerates – 0.4%** | **Industrial conglomerates – 0.4%** |  |
| General Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;68986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5780337 |
| **Professional services – 0.1%** | **Professional services – 0.1%** |  |
| TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;28844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636897 |
| **Road and rail – 0.4%** | **Road and rail – 0.4%** |  |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5533710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16255899 |
| **Information technology – 47.6%** |  |  |
| **Electronic equipment, instruments and components – 0.2%** | **Electronic equipment, instruments and components – 0.2%** |  |
| TE Connectivity, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3117738 |
| **IT services – 9.1%** | **IT services – 9.1%** |  |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4025922 |
| Affirm Holdings, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;94208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910991 |
| Block, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;85882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5396825 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;130457 | &nbsp;&nbsp;&nbsp;&nbsp;45363813 |
| MongoDB, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6495523 |
| PayPal Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049498 |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;185373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6434297 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;23630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391850 |
| Visa, Inc., Class A | &nbsp;&nbsp;263005 | &nbsp;&nbsp;&nbsp;&nbsp;54641919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;129710638 |
| **Semiconductors and semiconductor equipment – 7.3%** | **Semiconductors and semiconductor equipment – 7.3%** |  |
| Advanced Micro Devices, Inc. (A) | &nbsp;&nbsp;199522 | &nbsp;&nbsp;&nbsp;&nbsp;12923040 |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;&nbsp;37949 | &nbsp;&nbsp;&nbsp;&nbsp;20735334 |
| Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2378057 |
| Marvell Technology, Inc. | &nbsp;&nbsp;136332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5049737 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8180060 |
| NVIDIA Corp. | &nbsp;&nbsp;272436 | &nbsp;&nbsp;&nbsp;&nbsp;39813797 |
| Taiwan Semiconductor Manufacturing Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;64983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4840584 |
| Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62715 | &nbsp;&nbsp;&nbsp;&nbsp;10361772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;104282381 |
| **Software – 21.1%** | **Software – 21.1%** |  |
| Atlassian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;44970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5786740 |
| Bill.com Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5710485 |
| Confluent, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;89223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984320 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;19073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008196 |
| Datadog, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;37867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783225 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609948 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64379 | &nbsp;&nbsp;&nbsp;&nbsp;25057594 |
| Microsoft Corp. | &nbsp;&nbsp;791901 | &nbsp;&nbsp;&nbsp;&nbsp;189913698 |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821520 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29024 | &nbsp;&nbsp;&nbsp;&nbsp;12540980 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;87372 | &nbsp;&nbsp;&nbsp;&nbsp;33923926 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;55384 | &nbsp;&nbsp;&nbsp;&nbsp;17683557 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;300824189 |
| **Technology hardware, storage and peripherals – 9.9%** | **Technology hardware, storage and peripherals – 9.9%** |  |
| Apple, Inc. | 1082197 | &nbsp;&nbsp;&nbsp;&nbsp;140609856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;678544802 |
| **Materials – 1.3%** |  |  |
| **Chemicals – 1.3%** | **Chemicals – 1.3%** |  |
| Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;28356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9249160 |
| The Sherwin-Williams Company | &nbsp;&nbsp;&nbsp;&nbsp;37999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9018303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18267463 |
| TOTAL COMMON STOCKS (Cost $1,264,575,788) | TOTAL COMMON STOCKS (Cost $1,264,575,788) | $1415380637 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS - 0.1%** |  |  |
| **Consumer discretionary - 0.1%** |  |  |
| Carvana Company<br> 10.250%, 05/01/2030 (B) | &nbsp;&nbsp;3865000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816100 |
| TOTAL CORPORATE BONDS (Cost $3,865,000) | TOTAL CORPORATE BONDS (Cost $3,865,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816100 |
| **SHORT-TERM INVESTMENTS – 1.2%** | **SHORT-TERM INVESTMENTS – 1.2%** |  |
| **Short-term funds – 1.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;116993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169436 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (D) | &nbsp;&nbsp;&nbsp;&nbsp;706520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706520 |
| T. Rowe Price Government Reserve Fund, 4.2602% (D) | 15506402 | &nbsp;&nbsp;&nbsp;&nbsp;15506402 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $17,382,093) | TOTAL SHORT-TERM INVESTMENTS (Cost $17,382,093) | $&nbsp;&nbsp;&nbsp;&nbsp;17382358 |
| **Total Investments (Blue Chip Growth Trust)<br> (Cost $1,285,822,881) – 100.7%** | **Total Investments (Blue Chip Growth Trust)<br> (Cost $1,285,822,881) – 100.7%** | $**1434579095** |
| **Other assets and liabilities, net – (0.7%)** | **Other assets and liabilities, net – (0.7%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(10165091)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1424414004** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Capital Appreciation Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.7%** | **COMMON STOCKS – 98.7%** |  |
| **Communication services – 10.8%** |  |  |
| **Entertainment – 2.1%** | **Entertainment – 2.1%** |  |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057363 |
| ROBLOX Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8666321 |
| **Interactive media and services – 6.7%** | **Interactive media and services – 6.7%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11927637 |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11946341 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030497 |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27617614 |
| **Media – 0.7%** | **Media – 0.7%** |  |
| The Trade Desk, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999261 |
| **Wireless telecommunication services – 1.3%** | **Wireless telecommunication services – 1.3%** |  |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5626180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44909376 |
| **Consumer discretionary – 24.2%** |  |  |
| **Automobiles – 3.0%** | **Automobiles – 3.0%** |  |
| Tesla, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12321203 |
| **Hotels, restaurants and leisure – 3.7%** | **Hotels, restaurants and leisure – 3.7%** |  |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3404867 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105203 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Marriott International, Inc., Class A | &nbsp;&nbsp;35461 | $&nbsp;&nbsp;&nbsp;&nbsp;5279788 |
| McDonald's Corp. | &nbsp;&nbsp;14392 | &nbsp;&nbsp;&nbsp;&nbsp;3792724 |
|  |  | &nbsp;&nbsp;&nbsp;15582582 |
| **Internet and direct marketing retail – 6.3%** | **Internet and direct marketing retail – 6.3%** |  |
| Amazon.com, Inc. (A) | 239538 | &nbsp;&nbsp;&nbsp;20121191 |
| MercadoLibre, Inc. (A) | &nbsp;&nbsp;&nbsp;7180 | &nbsp;&nbsp;&nbsp;&nbsp;6076003 |
|  |  | &nbsp;&nbsp;&nbsp;26197194 |
| **Specialty retail – 5.2%** | **Specialty retail – 5.2%** |  |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;&nbsp;6241 | &nbsp;&nbsp;&nbsp;&nbsp;5267591 |
| The Home Depot, Inc. | &nbsp;&nbsp;24173 | &nbsp;&nbsp;&nbsp;&nbsp;7635284 |
| The TJX Companies, Inc. | &nbsp;&nbsp;86263 | &nbsp;&nbsp;&nbsp;&nbsp;6866535 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;3721 | &nbsp;&nbsp;&nbsp;&nbsp;1745409 |
|  |  | &nbsp;&nbsp;&nbsp;21514819 |
| **Textiles, apparel and luxury goods – 6.0%** | **Textiles, apparel and luxury goods – 6.0%** |  |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;23280 | &nbsp;&nbsp;&nbsp;&nbsp;7458446 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;17310 | &nbsp;&nbsp;&nbsp;12596355 |
| NIKE, Inc., Class B | &nbsp;&nbsp;39903 | &nbsp;&nbsp;&nbsp;&nbsp;4669050 |
|  |  | &nbsp;&nbsp;&nbsp;24723851 |
|  |  | 100339649 |
| **Consumer staples – 3.7%** |  |  |
| **Food and staples retailing – 2.3%** | **Food and staples retailing – 2.3%** |  |
| Costco Wholesale Corp. | &nbsp;&nbsp;21154 | &nbsp;&nbsp;&nbsp;&nbsp;9656801 |
| **Personal products – 1.4%** | **Personal products – 1.4%** |  |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;23635 | &nbsp;&nbsp;&nbsp;&nbsp;5864080 |
|  |  | &nbsp;&nbsp;&nbsp;15520881 |
| **Energy – 2.3%** |  |  |
| **Energy equipment and services – 2.3%** | **Energy equipment and services – 2.3%** |  |
| Schlumberger, Ltd. | 174675 | &nbsp;&nbsp;&nbsp;&nbsp;9338126 |
| **Financials – 3.6%** |  |  |
| **Capital markets – 3.6%** | **Capital markets – 3.6%** |  |
| KKR & Company, Inc. | &nbsp;&nbsp;47940 | &nbsp;&nbsp;&nbsp;&nbsp;2225375 |
| S&P Global, Inc. | &nbsp;&nbsp;19122 | &nbsp;&nbsp;&nbsp;&nbsp;6404723 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;17789 | &nbsp;&nbsp;&nbsp;&nbsp;6108387 |
|  |  | &nbsp;&nbsp;&nbsp;14738485 |
| **Health care – 15.2%** |  |  |
| **Biotechnology – 1.5%** | **Biotechnology – 1.5%** |  |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21792 | &nbsp;&nbsp;&nbsp;&nbsp;6293094 |
| **Health care equipment and supplies – 3.1%** | **Health care equipment and supplies – 3.1%** |  |
| Abbott Laboratories | &nbsp;&nbsp;22170 | &nbsp;&nbsp;&nbsp;&nbsp;2434044 |
| DexCom, Inc. (A) | &nbsp;&nbsp;40681 | &nbsp;&nbsp;&nbsp;&nbsp;4606716 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;21754 | &nbsp;&nbsp;&nbsp;&nbsp;5772424 |
|  |  | &nbsp;&nbsp;&nbsp;12813184 |
| **Health care providers and services – 2.7%** | **Health care providers and services – 2.7%** |  |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;21041 | &nbsp;&nbsp;&nbsp;11155517 |
| **Life sciences tools and services – 2.1%** | **Life sciences tools and services – 2.1%** |  |
| Danaher Corp. | &nbsp;&nbsp;25719 | &nbsp;&nbsp;&nbsp;&nbsp;6826337 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;3759 | &nbsp;&nbsp;&nbsp;&nbsp;2070044 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8896381 |
| **Pharmaceuticals – 5.8%** | **Pharmaceuticals – 5.8%** |  |
| Eli Lilly & Company | &nbsp;&nbsp;44240 | &nbsp;&nbsp;&nbsp;16184762 |
| Novo Nordisk A/S, ADR | &nbsp;&nbsp;57318 | &nbsp;&nbsp;&nbsp;&nbsp;7757418 |
|  |  | &nbsp;&nbsp;&nbsp;23942180 |
|  |  | &nbsp;&nbsp;&nbsp;63100356 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrials – 2.4%** |  |  |
| **Aerospace and defense – 0.8%** | **Aerospace and defense – 0.8%** |  |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6168 | $&nbsp;&nbsp;&nbsp;&nbsp;3365322 |
| **Road and rail – 1.6%** | **Road and rail – 1.6%** |  |
| Uber Technologies, Inc. (A) | &nbsp;&nbsp;269884 | &nbsp;&nbsp;&nbsp;&nbsp;6674231 |
|  |  | &nbsp;&nbsp;&nbsp;10039553 |
| **Information technology – 34.8%** |  |  |
| **IT services – 9.4%** | **IT services – 9.4%** |  |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;5235087 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;37960 | &nbsp;&nbsp;&nbsp;13199831 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;34829 | &nbsp;&nbsp;&nbsp;&nbsp;4999355 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;74404 | &nbsp;&nbsp;&nbsp;15458175 |
|  |  | &nbsp;&nbsp;&nbsp;38892448 |
| **Semiconductors and semiconductor equipment – 8.3%** | **Semiconductors and semiconductor equipment – 8.3%** |  |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;&nbsp;10456 | &nbsp;&nbsp;&nbsp;&nbsp;5713158 |
| Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17507 | &nbsp;&nbsp;&nbsp;&nbsp;9788689 |
| NVIDIA Corp. | &nbsp;&nbsp;130662 | &nbsp;&nbsp;&nbsp;19094945 |
|  |  | &nbsp;&nbsp;&nbsp;34596792 |
| **Software – 10.8%** | **Software – 10.8%** |  |
| Adobe, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19476 | &nbsp;&nbsp;&nbsp;&nbsp;6554258 |
| Atlassian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;28331 | &nbsp;&nbsp;&nbsp;&nbsp;3645633 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;28467 | &nbsp;&nbsp;&nbsp;&nbsp;2997290 |
| HubSpot, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4824 | &nbsp;&nbsp;&nbsp;&nbsp;1394763 |
| Microsoft Corp. | &nbsp;&nbsp;107348 | &nbsp;&nbsp;&nbsp;25744197 |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;33009 | &nbsp;&nbsp;&nbsp;&nbsp;4376663 |
|  |  | &nbsp;&nbsp;&nbsp;44712804 |
| **Technology hardware, storage and peripherals – 6.3%** | **Technology hardware, storage and peripherals – 6.3%** |  |
| Apple, Inc. | &nbsp;&nbsp;201733 | &nbsp;&nbsp;&nbsp;26211169 |
|  |  | 144413213 |
| **Real estate – 1.7%** |  |  |
| **Equity real estate investment trusts – 1.7%** | **Equity real estate investment trusts – 1.7%** |  |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32660 | &nbsp;&nbsp;&nbsp;&nbsp;6919348 |
| TOTAL COMMON STOCKS (Cost $418,094,992) | TOTAL COMMON STOCKS (Cost $418,094,992) | $409318987 |
| **PREFERRED SECURITIES – 0.6%** |  |  |
| **Consumer discretionary – 0.6%** |  |  |
| **Automobiles – 0.6%** | **Automobiles – 0.6%** |  |
| Dr. Ing. h.c. F. Porsche AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;27003 | &nbsp;&nbsp;&nbsp;&nbsp;2724967 |
| TOTAL PREFERRED SECURITIES (Cost $2,175,730) | TOTAL PREFERRED SECURITIES (Cost $2,175,730) | $&nbsp;&nbsp;&nbsp;&nbsp;2724967 |
| **SHORT-TERM INVESTMENTS – 1.3%** | **SHORT-TERM INVESTMENTS – 1.3%** |  |
| **Short-term funds – 1.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;285111 | &nbsp;&nbsp;&nbsp;&nbsp;2849917 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (D) | 2343005 | &nbsp;&nbsp;&nbsp;&nbsp;2343005 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,192,950) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,192,950) | $&nbsp;&nbsp;&nbsp;&nbsp;5192922 |
| **Total Investments (Capital Appreciation Trust)<br> (Cost $425,463,672) – 100.6%** | **Total Investments (Capital Appreciation Trust)<br> (Cost $425,463,672) – 100.6%** | $**417236876** |
| **Other assets and liabilities, net – (0.6%)** | **Other assets and liabilities, net – (0.6%)** | &nbsp;&nbsp;&nbsp;**(2438618)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**414798258** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Trust (continued)
(D) The rate shown is the annualized seven-day yield as of 12-31-22.

(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

#### Capital Appreciation Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 62.0%** | **COMMON STOCKS – 62.0%** |  |
| **Communication services – 1.9%** |  |  |
| **Entertainment – 0.1%** | **Entertainment – 0.1%** |  |
| Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350527 |
| **Interactive media and services – 1.8%** | **Interactive media and services – 1.8%** |  |
| Alphabet, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047284 |
| Meta Platforms, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7651537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8002064 |
| **Consumer discretionary – 5.1%** |  |  |
| **Auto components – 0.1%** | **Auto components – 0.1%** |  |
| Mobileye Global, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246086 |
| **Hotels, restaurants and leisure – 2.9%** | **Hotels, restaurants and leisure – 2.9%** |  |
| Hilton Worldwide Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794312 |
| Starbucks Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162560 |
| Yum! Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8346461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12303333 |
| **Internet and direct marketing retail – 2.1%** | **Internet and direct marketing retail – 2.1%** |  |
| Amazon.com, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8762124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21311543 |
| **Consumer staples – 0.3%** |  |  |
| **Beverages – 0.3%** | **Beverages – 0.3%** |  |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439773 |
| **Energy – 1.7%** |  |  |
| **Oil, gas and consumable fuels – 1.7%** | **Oil, gas and consumable fuels – 1.7%** |  |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192626 |
| EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870705 |
| Pioneer Natural Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884218 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947549 |
| **Financials – 6.8%** |  |  |
| **Banks – 2.9%** | **Banks – 2.9%** |  |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12096309 |
| **Capital markets – 3.2%** | **Capital markets – 3.2%** |  |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7852854 |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492826 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563786 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13354062 |
| **Insurance – 0.7%** | **Insurance – 0.7%** |  |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28574964 |
| **Health care – 14.6%** |  |  |
| **Biotechnology – 0.7%** | **Biotechnology – 0.7%** |  |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101296 |
| **Health care equipment and supplies – 4.5%** | **Health care equipment and supplies – 4.5%** |  |
| Alcon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375419 |
| Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140740 |
| Becton, Dickinson and Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336994 |
| GE HealthCare Technologies, Inc. (B)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551107 |
| Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835142 |

---

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Teleflex, Inc. | &nbsp;&nbsp;19052 | $&nbsp;&nbsp;&nbsp;4755951 |
|  |  | 18995353 |
| **Health care providers and services – 2.0%** | **Health care providers and services – 2.0%** |  |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;15654 | &nbsp;&nbsp;&nbsp;8299438 |
| **Life sciences tools and services – 6.5%** | **Life sciences tools and services – 6.5%** |  |
| Avantor, Inc. (B) | 236485 | &nbsp;&nbsp;&nbsp;4987469 |
| Danaher Corp. | &nbsp;&nbsp;25124 | &nbsp;&nbsp;&nbsp;6668412 |
| PerkinElmer, Inc. | &nbsp;&nbsp;54075 | &nbsp;&nbsp;&nbsp;7582397 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;14361 | &nbsp;&nbsp;&nbsp;7908459 |
|  |  | 27146737 |
| **Pharmaceuticals – 0.9%** | **Pharmaceuticals – 0.9%** |  |
| Catalent, Inc. (B) | &nbsp;&nbsp;26675 | &nbsp;&nbsp;&nbsp;1200642 |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;2597464 |
|  |  | &nbsp;&nbsp;&nbsp;3798106 |
|  |  | 61340930 |
| **Industrials – 9.2%** |  |  |
| **Commercial services and supplies – 1.4%** | **Commercial services and supplies – 1.4%** |  |
| Aurora Innovation, Inc. (B) | 314442 | &nbsp;&nbsp;&nbsp;&nbsp;380475 |
| Waste Connections, Inc. | &nbsp;&nbsp;41331 | &nbsp;&nbsp;&nbsp;5478837 |
|  |  | &nbsp;&nbsp;&nbsp;5859312 |
| **Industrial conglomerates – 1.7%** | **Industrial conglomerates – 1.7%** |  |
| General Electric Company (A) | &nbsp;&nbsp;85497 | &nbsp;&nbsp;&nbsp;7163794 |
| **Machinery – 3.5%** | **Machinery – 3.5%** |  |
| Fortive Corp. | 126378 | &nbsp;&nbsp;&nbsp;8119787 |
| Ingersoll Rand, Inc. | 124057 | &nbsp;&nbsp;&nbsp;6481978 |
|  |  | 14601765 |
| **Professional services – 2.6%** | **Professional services – 2.6%** |  |
| Equifax, Inc. | &nbsp;&nbsp;28886 | &nbsp;&nbsp;&nbsp;5614283 |
| TransUnion | &nbsp;&nbsp;94400 | &nbsp;&nbsp;&nbsp;5357200 |
|  |  | 10971483 |
|  |  | 38596354 |
| **Information technology – 18.1%** |  |  |
| **Electronic equipment, instruments and components – 2.6%** | **Electronic equipment, instruments and components – 2.6%** |  |
| TE Connectivity, Ltd. | &nbsp;&nbsp;53363 | &nbsp;&nbsp;&nbsp;6126072 |
| Teledyne Technologies, Inc. (B) | &nbsp;&nbsp;12195 | &nbsp;&nbsp;&nbsp;4876902 |
|  |  | 11002974 |
| **IT services – 1.4%** | **IT services – 1.4%** |  |
| Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;3129570 |
| Visa, Inc., Class A | &nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;2659328 |
|  |  | &nbsp;&nbsp;&nbsp;5788898 |
| **Semiconductors and semiconductor equipment – 3.8%** | **Semiconductors and semiconductor equipment – 3.8%** |  |
| NVIDIA Corp. | &nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;2557450 |
| NXP Semiconductors NV | &nbsp;&nbsp;47551 | &nbsp;&nbsp;&nbsp;7514485 |
| Texas Instruments, Inc. | &nbsp;&nbsp;36035 | &nbsp;&nbsp;&nbsp;5953703 |
|  |  | 16025638 |
| **Software – 7.9%** | **Software – 7.9%** |  |
| Black Knight, Inc. (B) | &nbsp;&nbsp;35373 | &nbsp;&nbsp;&nbsp;2184283 |
| Microsoft Corp. | &nbsp;&nbsp;91796 | 22014509 |
| Roper Technologies, Inc. | &nbsp;&nbsp;11923 | &nbsp;&nbsp;&nbsp;5151809 |
| salesforce.com, Inc. (B) | &nbsp;&nbsp;27757 | &nbsp;&nbsp;&nbsp;3680301 |
|  |  | 33030902 |
| **Technology hardware, storage and peripherals – 2.4%** | **Technology hardware, storage and peripherals – 2.4%** |  |
| Apple, Inc. | &nbsp;&nbsp;79412 | 10318001 |
|  |  | 76166413 |
| **Materials – 1.0%** |  |  |
| **Chemicals – 1.0%** | **Chemicals – 1.0%** |  |
| Linde PLC | &nbsp;&nbsp;12551 | &nbsp;&nbsp;&nbsp;4093885 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Utilities – 3.3%** |  |  |
| **Electric utilities – 1.4%** | **Electric utilities – 1.4%** |  |
| Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56390 | $&nbsp;&nbsp;&nbsp;&nbsp;2437740 |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48200 | &nbsp;&nbsp;&nbsp;&nbsp;3379302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5817042 |
| **Multi-utilities – 1.9%** | **Multi-utilities – 1.9%** |  |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69291 | &nbsp;&nbsp;&nbsp;&nbsp;6161356 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;1666544 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7827900 |
|  |  | &nbsp;&nbsp;&nbsp;13644942 |
| TOTAL COMMON STOCKS (Cost $271,364,760) | TOTAL COMMON STOCKS (Cost $271,364,760) | $260118417 |
| **PREFERRED SECURITIES – 0.4%** |  |  |
| **Financials – 0.0%** |  |  |
| **Capital markets – 0.0%** | **Capital markets – 0.0%** |  |
| The Charles Schwab Corp., 5.950% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23590 |
| **Utilities – 0.4%** |  |  |
| **Electric utilities – 0.1%** | **Electric utilities – 0.1%** |  |
| SCE Trust IV, 5.375% (5.375% to 9-15-25, then 3 month LIBOR + 3.132%) | &nbsp;&nbsp;&nbsp;&nbsp;18406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333149 |
| **Multi-utilities – 0.3%** | **Multi-utilities – 0.3%** |  |
| CMS Energy Corp., 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;24327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539573 |
| CMS Energy Corp., 5.875% | &nbsp;&nbsp;&nbsp;&nbsp;26823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600835 |
| NiSource, Inc., 6.500% (6.500% to 3-15-24, then 5 Year CMT + 3.632%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1239487 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1572636 |
| TOTAL PREFERRED SECURITIES (Cost $1,865,875) | TOTAL PREFERRED SECURITIES (Cost $1,865,875) | $&nbsp;&nbsp;&nbsp;&nbsp;1596226 |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS – 9.4%** |  |  |
| **U.S. Government – 9.4%** |  |  |
| U.S. Treasury Notes<br> 2.750%, 08/15/2032 | $43341000 | &nbsp;&nbsp;&nbsp;39467398 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $39,470,980) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $39,470,980) | $&nbsp;&nbsp;&nbsp;39467398 |
| **CORPORATE BONDS - 6.7%** |  |  |
| **Communication services - 1.5%** |  |  |
| Altice France Holding SA<br> 10.500%, 05/15/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343125 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 02/01/2028 (D) | &nbsp;&nbsp;2595000 | &nbsp;&nbsp;&nbsp;&nbsp;2356234 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/01/2027 (D) | &nbsp;&nbsp;2681000 | &nbsp;&nbsp;&nbsp;&nbsp;2498880 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2026 (D) | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121013 |
| Live Nation Entertainment, Inc.<br> 4.875%, 11/01/2024 (D) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33889 |
| Sirius XM Radio, Inc.<br> 5.000%, 08/01/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134032 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12698 |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49580 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145327 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604660 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6323745 |
| **Consumer discretionary - 1.9%** |  |  |
| Cedar Fair LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;384000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344851 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;676000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645580 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/01/2025 (D) | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405538 |
| &nbsp;&nbsp;&nbsp;6.500%, 10/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333788 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 05/15/2026 (D) | &nbsp;&nbsp;&nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217005 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Consumer discretionary (continued)** |  |  |
| Clarios Global LP (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 05/15/2025 (D) | $&nbsp;&nbsp;147000 | $&nbsp;&nbsp;&nbsp;&nbsp;147340 |
| &nbsp;&nbsp;&nbsp;8.500%, 05/15/2027 (D) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;634723 |
| Hilton Domestic Operating Company, Inc.<br> 5.375%, 05/01/2025 (D) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;29694 |
| KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC<br> 4.750%, 06/01/2027 (D) | 1237000 | 1187520 |
| Life Time, Inc.<br> 5.750%, 01/15/2026 (D) | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;339633 |
| Marriott International, Inc.<br> 3.125%, 06/15/2026 | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;533596 |
| Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 07/31/2024 (D) | 1405000 | 1352769 |
| &nbsp;&nbsp;&nbsp;5.500%, 04/15/2027 (D) | &nbsp;&nbsp;711000 | &nbsp;&nbsp;&nbsp;&nbsp;640362 |
| Six Flags Theme Parks, Inc.<br> 7.000%, 07/01/2025 (D) | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;250696 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (D) | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/01/2043 | &nbsp;&nbsp;579000 | &nbsp;&nbsp;&nbsp;&nbsp;476228 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/01/2032 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;244530 |
| &nbsp;&nbsp;&nbsp;6.875%, 11/15/2037 | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;372193 |
|  |  | 8157881 |
| **Financials - 1.7%** |  |  |
| Acrisure LLC<br> 7.000%, 11/15/2025 (D) | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;712080 |
| Alliant Holdings Intermediate LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 10/15/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;67172 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;61680 |
| &nbsp;&nbsp;&nbsp;6.750%, 10/15/2027 (D) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;164491 |
| AmWINS Group, Inc.<br> 4.875%, 06/30/2029 (D) | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;114500 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 12/01/2029 (D) | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;144108 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2026 (D) | 1805000 | 1767077 |
| Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 09/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;57001 |
| &nbsp;&nbsp;&nbsp;4.350%, 06/15/2029 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;191434 |
| &nbsp;&nbsp;&nbsp;5.200%, 06/15/2062 | &nbsp;&nbsp;719000 | &nbsp;&nbsp;&nbsp;&nbsp;678360 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/15/2033 (D) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;123561 |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2030 to 11/01/2031 (D) | 1573000 | 1304675 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 (D) | &nbsp;&nbsp;467000 | &nbsp;&nbsp;&nbsp;&nbsp;388275 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2029 (D) | &nbsp;&nbsp;339000 | &nbsp;&nbsp;&nbsp;&nbsp;295281 |
| State Street Corp.<br> 8.366%, (3 month LIBOR + 3.597%), 03/15/2023 (E)(F) | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;144605 |
| USI, Inc.<br> 6.875%, 05/01/2025 (D) | &nbsp;&nbsp;799000 | &nbsp;&nbsp;&nbsp;&nbsp;769712 |
|  |  | 6984012 |
| **Health care - 0.3%** |  |  |
| Avantor Funding, Inc.<br> 4.625%, 07/15/2028 (D) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;204444 |
| Charles River Laboratories<br> International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 03/15/2029 (D) | &nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;122932 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/15/2031 (D) | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;31140 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/01/2028 (D) | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;38681 |
| Hadrian Merger Sub, Inc.<br> 8.500%, 05/01/2026 (D) | &nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;327360 |
| Hologic, Inc.<br> 3.250%, 02/15/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;36924 |
| Surgery Center Holdings, Inc.<br> 10.000%, 04/15/2027 (D) | &nbsp;&nbsp;241000 | &nbsp;&nbsp;&nbsp;&nbsp;245218 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Health care (continued)** |  |  |
| Teleflex, Inc.<br> 4.625%, 11/15/2027 | $&nbsp;&nbsp;285000 | $&nbsp;&nbsp;&nbsp;&nbsp;271631 |
|  |  | &nbsp;&nbsp;&nbsp;1278330 |
| **Industrials - 1.1%** |  |  |
| Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 09/01/2028 (D) | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;207315 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13202 |
| Delta Air Lines, Inc.<br> 4.750%, 10/20/2028 (D) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;366590 |
| General Electric Company<br> 8.099%, (3 month LIBOR + 3.330%), 03/15/2023 (E)(F) | 1910000 | &nbsp;&nbsp;&nbsp;1876465 |
| Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 01/15/2029 | &nbsp;&nbsp;692000 | &nbsp;&nbsp;&nbsp;&nbsp;588200 |
| &nbsp;&nbsp;&nbsp;5.900%, 02/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28837 |
| Korn Ferry<br> 4.625%, 12/15/2027 (D) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82891 |
| Lennox International, Inc.<br> 3.000%, 11/15/2023 | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;505814 |
| Mileage Plus Holdings LLC<br> 6.500%, 06/20/2027 (D) | &nbsp;&nbsp;252016 | &nbsp;&nbsp;&nbsp;&nbsp;250555 |
| Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2025 (D) | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;317399 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/01/2024 (D) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89134 |
| TransDigm, Inc.<br> 5.500%, 11/15/2027 | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;103296 |
| United Airlines 2012-1 Class A Pass Through Trust<br> 4.150%, 04/11/2024 | &nbsp;&nbsp;133106 | &nbsp;&nbsp;&nbsp;&nbsp;127258 |
| US Airways 2010-1 Class A Pass Through Trust<br> 6.250%, 04/22/2023 | &nbsp;&nbsp;&nbsp;&nbsp;65680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64718 |
| US Airways 2012-2 Class A Pass Through Trust<br> 4.625%, 06/03/2025 | &nbsp;&nbsp;&nbsp;&nbsp;10734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9805 |
| US Airways 2013-1 Class A Pass Through Trust<br> 3.950%, 11/15/2025 | &nbsp;&nbsp;110958 | &nbsp;&nbsp;&nbsp;&nbsp;100578 |
|  |  | &nbsp;&nbsp;&nbsp;4732057 |
| **Information technology - 0.1%** |  |  |
| Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/01/2028 (D) | &nbsp;&nbsp;102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88372 |
| &nbsp;&nbsp;&nbsp;4.875%, 07/01/2029 (D) | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68028 |
| Crowdstrike Holdings, Inc.<br> 3.000%, 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20250 |
| Entegris Escrow Corp.<br> 4.750%, 04/15/2029 (D) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;145910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;322560 |
| **Real estate - 0.0%** |  |  |
| SBA Communications Corp.<br> 3.875%, 02/15/2027 | &nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp;176185 |
| **Utilities - 0.1%** |  |  |
| NiSource, Inc.<br> 5.650%, (5.650% to 6-15-23, then 5 Year CMT + 2.843%), 06/15/2023 (E) | &nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;409368 |
| TOTAL CORPORATE BONDS (Cost $29,738,335) | TOTAL CORPORATE BONDS (Cost $29,738,335) | $28384138 |
| **CONVERTIBLE BONDS - 0.1%** |  |  |
| **Communication services - 0.1%** |  |  |
| Spotify USA, Inc.<br> 6.902%, 03/15/2026 (G) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;330050 |
| TOTAL CONVERTIBLE BONDS (Cost $367,800) | TOTAL CONVERTIBLE BONDS (Cost $367,800) | $&nbsp;&nbsp;&nbsp;&nbsp;330050 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (H) – 12.6%** |  |  |
| **Communication services – 0.1%** |  |  |
| Charter Communications Operating LLC, 2019 Term Loan B1 (1 month LIBOR + 1.750%) 6.140%, 04/30/2025 | $&nbsp;&nbsp;468196 | &nbsp;&nbsp;&nbsp;&nbsp;465049 |
| **Consumer discretionary – 0.3%** |  |  |
| Hilton Worldwide Finance LLC, 2019 Term Loan B2 (1 month LIBOR + 1.750%) 6.173%, 06/22/2026 | &nbsp;&nbsp;190938 | &nbsp;&nbsp;&nbsp;&nbsp;190178 |
| IRB Holding Corp., 2020 Term Loan B (1 month LIBOR + 2.750%) 7.134%, 02/05/2025 | &nbsp;&nbsp;319707 | &nbsp;&nbsp;&nbsp;&nbsp;316459 |
| IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.000%) 7.317%, 12/15/2027 | &nbsp;&nbsp;526007 | &nbsp;&nbsp;&nbsp;&nbsp;509832 |
| Life Time, Inc., 2021 Term Loan B (3 month LIBOR + 4.750%) 9.485%, 12/16/2024 | &nbsp;&nbsp;151739 | &nbsp;&nbsp;&nbsp;&nbsp;150743 |
| SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B (1 month LIBOR + 3.000%) 7.438%, 08/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp;75370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73916 |
| Woof Holdings, Inc., 1st Lien Term Loan (1 month LIBOR + 3.750%) 8.104%, 12/21/2027 | &nbsp;&nbsp;196500 | &nbsp;&nbsp;&nbsp;&nbsp;184382 |
|  |  | &nbsp;&nbsp;&nbsp;1425510 |
| **Consumer staples – 0.3%** |  |  |
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3 (3 month LIBOR + 3.750%) 8.480%, 10/01/2026 | 1273753 | &nbsp;&nbsp;&nbsp;1217848 |
| **Financials – 4.5%** |  |  |
| Acrisure LLC, 2021 Incremental Term Loan B (1 month LIBOR + 3.750%) 8.134%, 02/15/2027 | &nbsp;&nbsp;246875 | &nbsp;&nbsp;&nbsp;&nbsp;233991 |
| Alliant Holdings Intermediate LLC, 2018 Term Loan B (1 month LIBOR + 3.250%) 7.634%, 05/09/2025 | &nbsp;&nbsp;893582 | &nbsp;&nbsp;&nbsp;&nbsp;880849 |
| Alliant Holdings Intermediate LLC, 2021 Term Loan B4 (1 month LIBOR + 3.500%) 7.854%, 11/06/2027 | 1476030 | &nbsp;&nbsp;&nbsp;1440708 |
| Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%) 7.634%, 05/09/2025 | &nbsp;&nbsp;458088 | &nbsp;&nbsp;&nbsp;&nbsp;451625 |
| Howden Group Holdings, Ltd., 2021 Term Loan B (1 month LIBOR + 3.250%) 7.688%, 11/12/2027 | 1433288 | &nbsp;&nbsp;&nbsp;1393614 |
| HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 3.000%) 7.327%, 04/25/2025 | 7056536 | &nbsp;&nbsp;&nbsp;6971293 |
| HUB International, Ltd., 2021 Term Loan B (3 month LIBOR + 3.250%) 7.528%, 04/25/2025 | 4567402 | &nbsp;&nbsp;&nbsp;4520678 |
| HUB International, Ltd., 2022 Term Loan B (3 month SOFR + 4.000%) 8.220%, 11/10/2029 | &nbsp;&nbsp;408055 | &nbsp;&nbsp;&nbsp;&nbsp;403183 |
| Ryan Specialty Group LLC, Term Loan (1 month SOFR + 3.000%) 7.423%, 09/01/2027 | &nbsp;&nbsp;264072 | &nbsp;&nbsp;&nbsp;&nbsp;261873 |
| USI, Inc., 2019 Incremental Term Loan B (3 month LIBOR + 3.250%) 7.980%, 12/02/2026 | &nbsp;&nbsp;813426 | &nbsp;&nbsp;&nbsp;&nbsp;806308 |
| USI, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.750%) 8.330%, 11/22/2029 | 1507287 | &nbsp;&nbsp;&nbsp;1491144 |
|  |  | 18855266 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (H)(continued)** |  |  |
| **Health care – 1.8%** |  |  |
| ADMI Corp., 2021 Incremental Term Loan B3 (1 month LIBOR + 3.750%) 8.136%, 12/23/2027 | $1051688 | &nbsp;&nbsp;&nbsp;&nbsp;955069 |
| ADMI Corp., 2021 Term Loan B2 (1 month LIBOR + 3.375%) 7.759%, 12/23/2027 | &nbsp;&nbsp;579675 | &nbsp;&nbsp;&nbsp;&nbsp;524316 |
| Eyecare Partners LLC, 2020 Term Loan (3 month LIBOR + 3.750%) 8.480%, 02/18/2027 | &nbsp;&nbsp;&nbsp;&nbsp;74055 | &nbsp;&nbsp;&nbsp;&nbsp;58998 |
| Eyecare Partners LLC, 2021 Incremental Term Loan (3 month LIBOR + 3.750%) 8.480%, 11/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;13345 | &nbsp;&nbsp;&nbsp;&nbsp;11190 |
| Heartland Dental LLC, 2018 1st Lien Term Loan (1 month LIBOR + 3.750%) 8.134%, 04/30/2025 | 1596121 | 1471624 |
| Heartland Dental LLC, 2021 Incremental Term Loan (1 month LIBOR + 4.000%) 8.387%, 04/30/2025 | &nbsp;&nbsp;147750 | &nbsp;&nbsp;&nbsp;&nbsp;137038 |
| Loire Finco Luxembourg Sarl, Term Loan (1 month LIBOR + 3.000%) 7.384%, 04/21/2027 | 1136200 | 1058087 |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) 7.634%, 10/23/2028 | 2487833 | 2360904 |
| PetVet Care Centers LLC, 2018 1st Lien Term Loan (1 month LIBOR + 2.750%) 7.134%, 02/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;82826 | &nbsp;&nbsp;&nbsp;&nbsp;77081 |
| PetVet Care Centers LLC, 2018 2nd Lien Term Loan (1 month LIBOR + 6.250%) 10.634%, 02/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;22979 |
| PetVet Care Centers LLC, 2018 Incremental Term Loan (1 month LIBOR + 3.250%) 7.634%, 02/14/2025 | &nbsp;&nbsp;196035 | &nbsp;&nbsp;&nbsp;&nbsp;182864 |
| PetVet Care Centers LLC, 2021 Term Loan B3 (1 month LIBOR + 3.500%) 7.884%, 02/14/2025 | &nbsp;&nbsp;756451 | &nbsp;&nbsp;&nbsp;&nbsp;708832 |
|  |  | 7568982 |
| **Industrials – 2.0%** |  |  |
| Camelot US Acquisition LLC, 2020 Incremental Term Loan B (1 month LIBOR + 3.000%) 7.384%, 10/30/2026 | &nbsp;&nbsp;255786 | &nbsp;&nbsp;&nbsp;&nbsp;251630 |
| Filtration Group Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.000%) 7.384%, 03/29/2025 | &nbsp;&nbsp;324017 | &nbsp;&nbsp;&nbsp;&nbsp;320103 |
| Filtration Group Corp., 2018 EUR Term Loan (1 month EURIBOR + 3.500%) 5.398%, 03/29/2025 | &nbsp;&nbsp;510123 | &nbsp;&nbsp;&nbsp;&nbsp;526495 |
| Filtration Group Corp., 2021 Incremental Term Loan (1 month LIBOR + 3.500%) 7.884%, 10/21/2028 | $&nbsp;&nbsp;202438 | &nbsp;&nbsp;&nbsp;&nbsp;198389 |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 9.996%, 06/21/2027 | 4867716 | 5000362 |
| SkyMiles IP, Ltd., 2020 Skymiles Term Loan B (3 month LIBOR + 3.750%) 7.993%, 10/20/2027 | 1888164 | 1922151 |
| TK Elevator US Newco, Inc., Term Loan B (6 month LIBOR + 3.500%) 6.871%, 07/30/2027 | &nbsp;&nbsp;263985 | &nbsp;&nbsp;&nbsp;&nbsp;253592 |
|  |  | 8472722 |
| **Information technology – 3.1%** |  |  |
| Applied Systems, Inc., 2017 1st Lien Term Loan (3 month LIBOR + 3.000%) 7.730%, 09/19/2024 | &nbsp;&nbsp;919929 | &nbsp;&nbsp;&nbsp;&nbsp;915909 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (H)(continued)** |  |  |
| **Information technology (continued)** |  |  |
| Applied Systems, Inc., 2021 2nd Lien Term Loan (3 month SOFR + 6.750%) 10.230%, 09/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;164028 | &nbsp;&nbsp;&nbsp;&nbsp;162183 |
| Applied Systems, Inc., 2022 Extended 1st Lien Term Loan (3 month SOFR + 4.500%) 9.080%, 09/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;276033 | &nbsp;&nbsp;&nbsp;&nbsp;274446 |
| Ascend Learning LLC, 2021 Term Loan (1 month LIBOR + 3.500%) 7.884%, 12/11/2028 | &nbsp;&nbsp;1590889 | &nbsp;&nbsp;&nbsp;1501402 |
| Azalea TopCo, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) 8.134%, 07/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;24625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22573 |
| Azalea TopCo, Inc., Term Loan (1 month LIBOR + 3.500%) 7.884%, 07/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;963389 | &nbsp;&nbsp;&nbsp;&nbsp;880297 |
| Celestial Saturn Parent, Inc., 2nd Lien Term Loan (1 month LIBOR + 6.500%) 10.938%, 06/04/2029 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56040 |
| Entegris, Inc., 2022 Term Loan B (1 and 3 month SOFR + 3.000%) 7.529%, 07/06/2029 | &nbsp;&nbsp;1573888 | &nbsp;&nbsp;&nbsp;1567986 |
| RealPage, Inc., 1st Lien Term Loan (1 month LIBOR + 3.000%) 7.384%, 04/24/2028 | &nbsp;&nbsp;1407188 | &nbsp;&nbsp;&nbsp;1335421 |
| RealPage, Inc., 2nd Lien Term Loan (1 month LIBOR + 6.500%) 10.884%, 04/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71813 |
| Sophia LP, 2021 Term Loan B (3 month LIBOR + 3.500%) 8.230%, 10/07/2027 | &nbsp;&nbsp;&nbsp;&nbsp;296250 | &nbsp;&nbsp;&nbsp;&nbsp;285327 |
| UKG, Inc., 2021 2nd Lien Term Loan (1 month LIBOR + 5.250%) 8.998%, 05/03/2027 | &nbsp;&nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;265495 |
| UKG, Inc., 2021 Term Loan (3 month LIBOR + 3.250%) 6.998%, 05/04/2026 | &nbsp;&nbsp;5806252 | &nbsp;&nbsp;&nbsp;5515939 |
|  |  | 12854831 |
| **Materials – 0.5%** |  |  |
| HB Fuller Company, 2017 Term Loan B (1 month LIBOR + 2.000%) 6.353%, 10/20/2024 | &nbsp;&nbsp;2021655 | &nbsp;&nbsp;&nbsp;2019552 |
| TOTAL TERM LOANS (Cost $54,303,832) | TOTAL TERM LOANS (Cost $54,303,832) | $52879760 |
| **ASSET BACKED SECURITIES - 0.3%** |  |  |
| Domino's Pizza Master Issuer LLC<br> Series 2017-1A, Class A23<br> 4.118%, 07/25/2047 (D) | &nbsp;&nbsp;&nbsp;&nbsp;495300 | $&nbsp;&nbsp;&nbsp;&nbsp;453905 |
| Domino's Pizza Master Issuer LLC<br> Series 2018-1A, Class A2I<br> 4.116%, 07/25/2048 (D) | &nbsp;&nbsp;&nbsp;&nbsp;470400 | &nbsp;&nbsp;&nbsp;&nbsp;445272 |
| Domino's Pizza Master Issuer LLC<br> Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (D) | &nbsp;&nbsp;&nbsp;&nbsp;209088 | &nbsp;&nbsp;&nbsp;&nbsp;180618 |
| TOTAL ASSET BACKED SECURITIES (Cost $1,170,390) | TOTAL ASSET BACKED SECURITIES (Cost $1,170,390) | $&nbsp;&nbsp;&nbsp;1079795 |
| **SHORT-TERM INVESTMENTS – 8.8%** | **SHORT-TERM INVESTMENTS – 8.8%** |  |
| **Short-term funds – 8.2%** |  |  |
| T. Rowe Price Government Reserve Fund, 4.2602% (I) | 34304081 | 34304081 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |
| **Repurchase agreement – 0.6%** |  |  |
| Repurchase Agreement with State Street Corp. dated 12-30-22 at 1.280% to be repurchased at $2,781,396 on 1-3-23, collateralized by $2,991,700 U.S. Treasury Notes, 2.750% due 7-31-27 (valued at $2,836,622) | 2781000 | $&nbsp;&nbsp;&nbsp;&nbsp;2781000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $37,085,081) | TOTAL SHORT-TERM INVESTMENTS (Cost $37,085,081) | $&nbsp;&nbsp;&nbsp;37085081 |
| **Total Investments (Capital Appreciation Value Trust)<br> (Cost $435,367,053) – 100.3%** | **Total Investments (Capital Appreciation Value Trust)<br> (Cost $435,367,053) – 100.3%** | $**420940865** |
| **Other assets and liabilities, net – (0.3%)** | **Other assets and liabilities, net – (0.3%)** | &nbsp;&nbsp;&nbsp;**(1252330)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**419688535** |

---

<u>Currency Abbreviations</u> <br> EUR Euro

<u>Security Abbreviations and Legend</u> <br> CMT Constant Maturity Treasury

---

| | |
|:---|:---|
| EURIBOR | Euro Interbank Offered Rate |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Non-income producing security. |
| (C) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (F) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (G) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (H) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (I) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

#### DERIVATIVES

#### WRITTEN OPTIONS

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** | **Options on securities** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls** | **Calls** |  |  |  |  |  |  |  |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 160.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;$18097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 165.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;USD | 120.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;108 | &nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85221 | &nbsp;&nbsp;$(44236) |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 185.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 195.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 205.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 210.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| GSI | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 170.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 175.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| JPM | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;USD | 180.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 85.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12557) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 90.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2845) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 95.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(460) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| WFB | &nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;USD | 110.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) |
| WFB | &nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34181) |
| WFB | &nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28510) |
| CITI | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 40.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;USD | 42.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 320.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 320.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 325.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** | **Options on securities (continued)** |
| **Counterparty (OTC)/<br> Exchange-<br> traded** | &nbsp;&nbsp;**Name of issuer** | &nbsp;&nbsp;**Currency** | **Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Calls (continued)** | **Calls (continued)** |  |  |  |  |  |  |  |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;$10343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 330.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 340.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SFG | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 350.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 355.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 360.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 365.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 300.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68741 | &nbsp;&nbsp;$(54374) |
| JPM | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;USD | 300.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51902) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 97.50 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9113) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 97.50 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9113) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5505) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5505) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1440) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1440) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 100.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46326) |
| GSI | &nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;USD | 105.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38280) |
| JPM | &nbsp;&nbsp;TE Connectivity, Ltd. | &nbsp;&nbsp;USD | 120.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4324) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 190.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 195.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| JPM | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 200.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 220.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;The PNC Financial Services Group, Inc. | &nbsp;&nbsp;USD | 230.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| CITI | &nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;USD | 640.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 540.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12810) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 560.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2129) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 580.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(434) |
| CITI | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 580.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82010) |
| JPM | &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;USD | 600.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70953) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2023 | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39234) |
| WFB | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 140.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39234) |
| CITI | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 145.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15500) |
| CITI | &nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;USD | 150.00 | &nbsp;&nbsp;Jan 2024 | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12438) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;**$2178819** | &nbsp;&nbsp;**$(625087)** |

---

<u>Derivatives Currency Abbreviations</u> <br> USD U.S. Dollar

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Capital Appreciation Value Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| JPM | JPMorgan Chase Bank, N.A. |
| OTC | Over-the-counter |
| SFG | Susquehanna Financial Group, LLLP |
| WFB | Wells Fargo Bank, N.A. |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Disciplined Value International Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 96.5%** | **COMMON STOCKS - 96.5%** |  |
| **Australia - 0.4%** |  |  |
| Aurizon Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422279 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069820 |
| **Austria - 1.2%** |  |  |
| ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140921 |
| **Belgium - 0.4%** |  |  |
| Azelis Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105242 |
| **Bermuda - 1.6%** |  |  |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4098141 |
| **Brazil - 0.5%** |  |  |
| Banco do Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257656 |
| **Canada - 7.2%** |  |  |
| Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10154306 |
| Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575141 |
| MEG Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011771 |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980425 |
| Yamana Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911263 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18632906 |
| **China - 1.9%** |  |  |
| Alibaba Group Holding, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4874168 |
| **Denmark - 0.7%** |  |  |
| DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743937 |
| **Finland - 3.5%** |  |  |
| Metso Outotec OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998955 |
| Nordea Bank ABP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3090742 |
| Sampo OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4891119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8980816 |
| **France - 8.5%** |  |  |
| Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318947 |
| Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636816 |
| Imerys SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179909 |
| Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408146 |
| Rexel SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448014 |
| Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4886206 |
| SPIE SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363851 |
| TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5818552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22060441 |
| **Germany - 7.3%** |  |  |
| Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2336314 |
| Brenntag SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186527 |
| Daimler Truck Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048677 |
| Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6459503 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685373 |
| Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4302875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19019269 |
| **Greece - 0.7%** |  |  |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691528 |
| **India - 1.6%** |  |  |
| HDFC Bank, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4086403 |

---

#### Disciplined Value International Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Ireland - 2.7%** |  |  |
| CRH PLC | &nbsp;&nbsp;129273 | $&nbsp;&nbsp;&nbsp;5144413 |
| Flutter Entertainment PLC (London Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;&nbsp;14575 | &nbsp;&nbsp;&nbsp;1973228 |
|  |  | &nbsp;&nbsp;&nbsp;7117641 |
| **Japan - 13.3%** |  |  |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69200 | &nbsp;&nbsp;&nbsp;2154031 |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;60800 | &nbsp;&nbsp;&nbsp;1550812 |
| Fuji Corp. (Aichi) | &nbsp;&nbsp;149100 | &nbsp;&nbsp;&nbsp;2172374 |
| Honda Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;94100 | &nbsp;&nbsp;&nbsp;2146328 |
| IHI Corp. | &nbsp;&nbsp;143900 | &nbsp;&nbsp;&nbsp;4168551 |
| KDDI Corp. | &nbsp;&nbsp;151800 | &nbsp;&nbsp;&nbsp;4603623 |
| Komatsu, Ltd. | &nbsp;&nbsp;176500 | &nbsp;&nbsp;&nbsp;3814893 |
| Renesas Electronics Corp. (A) | &nbsp;&nbsp;443400 | &nbsp;&nbsp;&nbsp;3918886 |
| Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;2492447 |
| Subaru Corp. | &nbsp;&nbsp;174200 | &nbsp;&nbsp;&nbsp;2637402 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;122200 | &nbsp;&nbsp;&nbsp;4916404 |
|  |  | 34575751 |
| **Netherlands - 3.9%** |  |  |
| Aalberts NV | &nbsp;&nbsp;&nbsp;&nbsp;49344 | &nbsp;&nbsp;&nbsp;1922057 |
| ING Groep NV | &nbsp;&nbsp;305940 | &nbsp;&nbsp;&nbsp;3726692 |
| Stellantis NV | &nbsp;&nbsp;309161 | &nbsp;&nbsp;&nbsp;4392366 |
|  |  | 10041115 |
| **Norway - 0.9%** |  |  |
| Norsk Hydro ASA | &nbsp;&nbsp;324853 | &nbsp;&nbsp;&nbsp;2427421 |
| **Singapore - 2.2%** |  |  |
| Genting Singapore, Ltd. | 1569000 | &nbsp;&nbsp;&nbsp;1119730 |
| United Overseas Bank, Ltd. | &nbsp;&nbsp;199100 | &nbsp;&nbsp;&nbsp;4560554 |
|  |  | &nbsp;&nbsp;&nbsp;5680284 |
| **South Korea - 3.2%** |  |  |
| Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59086 | &nbsp;&nbsp;&nbsp;1967511 |
| KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41335 | &nbsp;&nbsp;&nbsp;1583654 |
| POSCO Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5173 | &nbsp;&nbsp;&nbsp;1132121 |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;41862 | &nbsp;&nbsp;&nbsp;1837459 |
| SK Telecom Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43907 | &nbsp;&nbsp;&nbsp;1647121 |
|  |  | &nbsp;&nbsp;&nbsp;8167866 |
| **Spain - 0.2%** |  |  |
| Ence Energia y Celulosa SA | &nbsp;&nbsp;184532 | &nbsp;&nbsp;&nbsp;&nbsp;555132 |
| **Sweden - 1.9%** |  |  |
| Svenska Handelsbanken AB, A Shares | &nbsp;&nbsp;483233 | &nbsp;&nbsp;&nbsp;4865187 |
| **Switzerland - 10.2%** |  |  |
| Glencore PLC | 1266924 | &nbsp;&nbsp;&nbsp;8448711 |
| Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;96932 | &nbsp;&nbsp;&nbsp;8772099 |
| STMicroelectronics NV | &nbsp;&nbsp;110296 | &nbsp;&nbsp;&nbsp;3919471 |
| Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp;24153 | &nbsp;&nbsp;&nbsp;2258339 |
| UBS Group AG | &nbsp;&nbsp;162976 | &nbsp;&nbsp;&nbsp;3029109 |
|  |  | 26427729 |
| **United Kingdom - 19.9%** |  |  |
| AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;56872 | &nbsp;&nbsp;&nbsp;7695922 |
| BAE Systems PLC | &nbsp;&nbsp;892026 | &nbsp;&nbsp;&nbsp;9213250 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Disciplined Value International Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;126755 | $&nbsp;&nbsp;&nbsp;&nbsp;7012087 |
| CVS Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;47192 | &nbsp;&nbsp;&nbsp;&nbsp;1100788 |
| Endeavour Mining PLC | &nbsp;&nbsp;&nbsp;&nbsp;86954 | &nbsp;&nbsp;&nbsp;&nbsp;1861098 |
| Ferroglobe PLC (A) | &nbsp;&nbsp;257313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990655 |
| Future PLC | &nbsp;&nbsp;119580 | &nbsp;&nbsp;&nbsp;&nbsp;1822692 |
| IMI PLC | &nbsp;&nbsp;233403 | &nbsp;&nbsp;&nbsp;&nbsp;3645268 |
| Informa PLC | &nbsp;&nbsp;286032 | &nbsp;&nbsp;&nbsp;&nbsp;2133742 |
| JD Sports Fashion PLC | 1113257 | &nbsp;&nbsp;&nbsp;&nbsp;1691743 |
| NatWest Group PLC | &nbsp;&nbsp;496251 | &nbsp;&nbsp;&nbsp;&nbsp;1582666 |
| Nomad Foods, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;51833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893601 |
| Shell PLC | &nbsp;&nbsp;132575 | &nbsp;&nbsp;&nbsp;&nbsp;3737416 |
| Smith & Nephew PLC | &nbsp;&nbsp;&nbsp;&nbsp;77335 | &nbsp;&nbsp;&nbsp;&nbsp;1032801 |
| SSE PLC | &nbsp;&nbsp;148048 | &nbsp;&nbsp;&nbsp;&nbsp;3044909 |
| Tesco PLC | &nbsp;&nbsp;721724 | &nbsp;&nbsp;&nbsp;&nbsp;1944961 |
| WH Smith PLC (A) | &nbsp;&nbsp;119298 | &nbsp;&nbsp;&nbsp;&nbsp;2121780 |
|  |  | &nbsp;&nbsp;&nbsp;51525379 |
| **United States - 2.6%** |  |  |
| Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16697 | &nbsp;&nbsp;&nbsp;&nbsp;1625954 |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1851 | &nbsp;&nbsp;&nbsp;&nbsp;3730283 |
| Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28277 | &nbsp;&nbsp;&nbsp;&nbsp;1431810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6788047 |
| TOTAL COMMON STOCKS (Cost $244,143,772) | TOTAL COMMON STOCKS (Cost $244,143,772) | $249932800 |
| **SHORT-TERM INVESTMENTS - 2.3%** | **SHORT-TERM INVESTMENTS - 2.3%** |  |
| **Short-term funds - 2.3%** |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.0943% (B) | 5938441 | &nbsp;&nbsp;&nbsp;&nbsp;5938441 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,938,441) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,938,441) | $&nbsp;&nbsp;&nbsp;&nbsp;5938441 |
| **Total Investments (Disciplined Value International Trust)<br> (Cost $250,082,213) - 98.8%** | **Total Investments (Disciplined Value International Trust)<br> (Cost $250,082,213) - 98.8%** | $**255871241** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**3213278** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**259084519** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

#### Emerging Markets Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 97.0%** | **COMMON STOCKS - 97.0%** |  |
| **Australia - 0.0%** |  |  |
| MMG, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46864 |
| **Belgium - 0.0%** |  |  |
| Titan Cement International SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32031 |
| **Brazil - 2.4%** |  |  |
| Americanas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34170 |
| Anima Holding SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18090 |
| Atacadao SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21859 |
| Banco Bradesco SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222357 |
| Banco do Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324215 |
| Banco Santander Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112359 |
| Boa Vista Servicos SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18373 |
| BrasilAgro - Company Brasileira de Propriedades Agricolas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25800 |
| BRF SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57160 |
| Brisanet Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8377 |
| Camil Alimentos SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16661 |
| Cia Brasileira de Distribuicao | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48738 |
| Cia Siderurgica Nacional SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91269 |

---

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Brazil (continued)** |  |  |
| Cia Siderurgica Nacional SA, ADR | &nbsp;&nbsp;&nbsp;9153 | $&nbsp;&nbsp;&nbsp;&nbsp;25262 |
| Cielo SA | &nbsp;&nbsp;97021 | &nbsp;&nbsp;&nbsp;&nbsp;96531 |
| Cogna Educacao (A) | 186166 | &nbsp;&nbsp;&nbsp;&nbsp;74821 |
| Construtora Tenda SA (A) | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 |
| Cruzeiro do Sul Educacional SA | &nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7825 |
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | &nbsp;&nbsp;24323 | &nbsp;&nbsp;&nbsp;&nbsp;60452 |
| Dexco SA | &nbsp;&nbsp;&nbsp;6270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8032 |
| Direcional Engenharia SA | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;24828 |
| Embraer SA (A) | &nbsp;&nbsp;67674 | &nbsp;&nbsp;&nbsp;&nbsp;184088 |
| Empreendimentos Pague Menos S/A (A) | &nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp;14215 |
| Enauta Participacoes SA | &nbsp;&nbsp;16860 | &nbsp;&nbsp;&nbsp;&nbsp;43403 |
| Eternit SA | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8639 |
| Even Construtora e Incorporadora SA | &nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;17185 |
| Ez Tec Empreendimentos e Participacoes SA | &nbsp;&nbsp;&nbsp;8609 | &nbsp;&nbsp;&nbsp;&nbsp;22006 |
| Gerdau SA, ADR | &nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp;114678 |
| Guararapes Confeccoes SA | &nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;12569 |
| Hapvida Participacoes e Investimentos S/A (A)(B) | 267172 | &nbsp;&nbsp;&nbsp;&nbsp;257456 |
| International Meal Company Alimentacao SA (A) | &nbsp;&nbsp;26670 | &nbsp;&nbsp;&nbsp;&nbsp;14163 |
| Iochpe Maxion SA | &nbsp;&nbsp;11411 | &nbsp;&nbsp;&nbsp;&nbsp;25483 |
| Jalles Machado SA | &nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;11351 |
| JBS SA | &nbsp;&nbsp;60990 | &nbsp;&nbsp;&nbsp;&nbsp;254832 |
| JHSF Participacoes SA | &nbsp;&nbsp;28427 | &nbsp;&nbsp;&nbsp;&nbsp;27041 |
| Lavvi Empreendimentos Imobiliarios Ltda | &nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;&nbsp;19219 |
| M Dias Branco SA | &nbsp;&nbsp;10232 | &nbsp;&nbsp;&nbsp;&nbsp;69458 |
| Marisa Lojas SA (A) | &nbsp;&nbsp;19338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4581 |
| MRV Engenharia e Participacoes SA | &nbsp;&nbsp;32337 | &nbsp;&nbsp;&nbsp;&nbsp;46470 |
| Multilaser Industrial SA | &nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;&nbsp;15655 |
| Natura & Company Holding SA | &nbsp;&nbsp;63132 | &nbsp;&nbsp;&nbsp;&nbsp;137195 |
| Petroleo Brasileiro SA | 366953 | 1945830 |
| Positivo Tecnologia SA | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;15940 |
| Romi SA | &nbsp;&nbsp;&nbsp;5677 | &nbsp;&nbsp;&nbsp;&nbsp;16431 |
| Sao Carlos Empreendimentos e Participacoes SA | &nbsp;&nbsp;&nbsp;5205 | &nbsp;&nbsp;&nbsp;&nbsp;17850 |
| TIM SA | &nbsp;&nbsp;62810 | &nbsp;&nbsp;&nbsp;&nbsp;147075 |
| Trisul SA | &nbsp;&nbsp;13137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524 |
| Tupy SA | &nbsp;&nbsp;&nbsp;9951 | &nbsp;&nbsp;&nbsp;&nbsp;51374 |
| Ultrapar Participacoes SA | &nbsp;&nbsp;&nbsp;9031 | &nbsp;&nbsp;&nbsp;&nbsp;21442 |
| Usinas Siderurgicas de Minas Gerais SA | &nbsp;&nbsp;14738 | &nbsp;&nbsp;&nbsp;&nbsp;20496 |
| Vale SA | &nbsp;&nbsp;&nbsp;2648 | &nbsp;&nbsp;&nbsp;&nbsp;44863 |
| Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;12168 |
| Via S/A (A) | 129207 | &nbsp;&nbsp;&nbsp;&nbsp;58745 |
| Vibra Energia SA | &nbsp;&nbsp;13082 | &nbsp;&nbsp;&nbsp;&nbsp;38357 |
| Zamp SA (A) | &nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp;12181 |
|  |  | 5011360 |
| **Canada - 0.0%** |  |  |
| China Gold International Resources Corp., Ltd. | &nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;45437 |
| **Chile - 0.6%** |  |  |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;23304 |
| Camanchaca SA (A) | 214992 | &nbsp;&nbsp;&nbsp;&nbsp;13935 |
| CAP SA | &nbsp;&nbsp;&nbsp;5458 | &nbsp;&nbsp;&nbsp;&nbsp;44689 |
| Cementos BIO BIO SA | &nbsp;&nbsp;16447 | &nbsp;&nbsp;&nbsp;&nbsp;12554 |
| Cencosud SA | 133449 | &nbsp;&nbsp;&nbsp;&nbsp;219688 |
| Cia Sud Americana de Vapores SA | 687612 | &nbsp;&nbsp;&nbsp;&nbsp;54237 |
| Cristalerias de Chile SA | &nbsp;&nbsp;&nbsp;3626 | &nbsp;&nbsp;&nbsp;&nbsp;13574 |
| Empresa Nacional de Telecomunicaciones SA | &nbsp;&nbsp;15564 | &nbsp;&nbsp;&nbsp;&nbsp;53670 |
| Empresas CMPC SA | &nbsp;&nbsp;53560 | &nbsp;&nbsp;&nbsp;&nbsp;89299 |
| Empresas COPEC SA | &nbsp;&nbsp;30801 | &nbsp;&nbsp;&nbsp;&nbsp;229568 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chile (continued)** |  |  |
| Empresas Hites SA | &nbsp;&nbsp;&nbsp;&nbsp;46731 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4677 |
| Enel Americas SA | &nbsp;&nbsp;1058745 | &nbsp;&nbsp;&nbsp;&nbsp;141871 |
| Falabella SA | &nbsp;&nbsp;&nbsp;&nbsp;34807 | &nbsp;&nbsp;&nbsp;&nbsp;67810 |
| Grupo Security SA | &nbsp;&nbsp;&nbsp;&nbsp;147513 | &nbsp;&nbsp;&nbsp;&nbsp;29987 |
| Hortifrut SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7570 | &nbsp;&nbsp;&nbsp;&nbsp;11541 |
| Inversiones Aguas Metropolitanas SA | &nbsp;&nbsp;&nbsp;&nbsp;42648 | &nbsp;&nbsp;&nbsp;&nbsp;23948 |
| Itau CorpBanca Chile SA | 10081598 | &nbsp;&nbsp;&nbsp;&nbsp;22237 |
| Itau CorpBanca, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3623 | &nbsp;&nbsp;&nbsp;&nbsp;11702 |
| Masisa SA | &nbsp;&nbsp;&nbsp;&nbsp;321066 | &nbsp;&nbsp;&nbsp;&nbsp;13223 |
| PAZ Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;16523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7251 |
| Ripley Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;137631 | &nbsp;&nbsp;&nbsp;&nbsp;22378 |
| Salfacorp SA | &nbsp;&nbsp;&nbsp;&nbsp;54622 | &nbsp;&nbsp;&nbsp;&nbsp;16856 |
| Sigdo Koppers SA | &nbsp;&nbsp;&nbsp;&nbsp;50989 | &nbsp;&nbsp;&nbsp;&nbsp;69686 |
| SMU SA | &nbsp;&nbsp;&nbsp;&nbsp;245031 | &nbsp;&nbsp;&nbsp;&nbsp;33503 |
| Sociedad Matriz SAAM SA | &nbsp;&nbsp;&nbsp;&nbsp;670600 | &nbsp;&nbsp;&nbsp;&nbsp;75804 |
| Socovesa SA | &nbsp;&nbsp;&nbsp;&nbsp;113429 | &nbsp;&nbsp;&nbsp;&nbsp;12003 |
| SONDA SA | &nbsp;&nbsp;&nbsp;&nbsp;24563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9441 |
|  |  | 1328436 |
| **China - 23.9%** |  |  |
| 360 DigiTech, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;46482 |
| 360 Security Technology, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;30100 | &nbsp;&nbsp;&nbsp;&nbsp;28278 |
| 361 Degrees International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;50568 |
| 3SBio, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;146500 | &nbsp;&nbsp;&nbsp;&nbsp;155117 |
| AAC Technologies Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;79500 | &nbsp;&nbsp;&nbsp;&nbsp;180480 |
| Addsino Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;13217 |
| Agile Group Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;46076 |
| Agricultural Bank of China, Ltd., H Shares | &nbsp;&nbsp;1954000 | &nbsp;&nbsp;&nbsp;&nbsp;668457 |
| Alibaba Group Holding, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;170600 | 1871979 |
| A-Living Smart City Services Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;58250 | &nbsp;&nbsp;&nbsp;&nbsp;69805 |
| Allmed Medical Products Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;10745 |
| Aluminum Corp. of China, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;157420 |
| Angang Steel Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;167800 | &nbsp;&nbsp;&nbsp;&nbsp;45566 |
| Anhui Conch Cement Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;452981 |
| Anhui Guangxin Agrochemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4480 | &nbsp;&nbsp;&nbsp;&nbsp;18919 |
| Anhui Truchum Advanced Materials & Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;12884 |
| Anhui Zhongding Sealing Parts Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;19113 |
| Anton Oilfield Services Group (A) | &nbsp;&nbsp;&nbsp;&nbsp;284000 | &nbsp;&nbsp;&nbsp;&nbsp;12905 |
| Aoshikang Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;16109 |
| Asia Cement China Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;30563 |
| AsiaInfo Technologies, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;17567 |
| Avary Holding Shenzhen Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;33905 |
| AVIC Industry-Finance Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;&nbsp;18916 |
| AviChina Industry & Technology Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;103137 |
| BAIC Motor Corp., Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;54639 |
| Baidu, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;12433 | 1422087 |
| Baidu, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp;47773 |
| BAIOO Family Interactive, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6917 |
| Bank of Beijing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;55771 |
| Bank of Changsha Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp;40417 |
| Bank of Chengdu Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp;61947 |
| Bank of China, Ltd., H Shares | &nbsp;&nbsp;5445694 | 1970957 |
| Bank of Chongqing Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;69500 | &nbsp;&nbsp;&nbsp;&nbsp;36137 |
| Bank of Communications Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;485876 | &nbsp;&nbsp;&nbsp;&nbsp;278843 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Bank of Guiyang Company, Ltd., Class A | &nbsp;&nbsp;19600 | $&nbsp;&nbsp;&nbsp;15470 |
| Bank of Hangzhou Company, Ltd., Class A | &nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;52975 |
| Bank of Jiangsu Company, Ltd., Class A | &nbsp;&nbsp;77400 | &nbsp;&nbsp;&nbsp;81066 |
| Bank of Nanjing Company, Ltd., Class A | &nbsp;&nbsp;54200 | &nbsp;&nbsp;&nbsp;81146 |
| Bank of Ningbo Company, Ltd., Class A | &nbsp;&nbsp;36960 | 172041 |
| Bank of Shanghai Company, Ltd., Class A | &nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;48429 |
| Bank of Suzhou Company, Ltd., Class A | &nbsp;&nbsp;21010 | &nbsp;&nbsp;&nbsp;23493 |
| Bank of Tianjin Company, Ltd., H Shares (A) | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;18186 |
| Baoshan Iron & Steel Company, Ltd., Class A | 116100 | &nbsp;&nbsp;&nbsp;93221 |
| Baoye Group Company, Ltd., H Shares (A) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;10865 |
| Baozun, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;2229 |
| BBMG Corp., H Shares | 220000 | &nbsp;&nbsp;&nbsp;28383 |
| Beijing Capital Eco-Environment Protection Group Company, Ltd., Class A | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;20357 |
| Beijing Capital International Airport Company, Ltd., H Shares (A) | 188000 | 137161 |
| Beijing Dabeinong Technology Group Company, Ltd., Class A (A) | &nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;23287 |
| Beijing Enlight Media Company, Ltd., Class A | &nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;17669 |
| Beijing GeoEnviron Engineering & Technology, Inc., Class A | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;10175 |
| Beijing Jetsen Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;17312 |
| Beijing New Building Materials PLC, Class A | &nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;45626 |
| Beijing North Star Company, Ltd., H Shares | 132000 | &nbsp;&nbsp;&nbsp;15152 |
| Beijing Orient National Communication Science & Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;11710 |
| Beijing Originwater Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;2413 |
| Beijing Shougang Company, Ltd., Class A | &nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;10944 |
| Beijing Shunxin Agriculture Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;15837 |
| Beijing Sinnet Technology Company, Ltd., Class A | &nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;12303 |
| Beijing Thunisoft Corp, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;6383 |
| Beijing Urban Construction Design & Development Group Company, Ltd., H Shares (B) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;8700 |
| Beijing Yanjing Brewery Company, Ltd., Class A | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;27449 |
| Beijing-Shanghai High Speed Railway Company, Ltd., Class A | &nbsp;&nbsp;97200 | &nbsp;&nbsp;&nbsp;68669 |
| BGI Genomics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;17835 |
| Blue Sail Medical Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;7943 |
| Bluefocus Intelligent Communications Group Company, Ltd., Class A | &nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;12473 |
| BOC International China Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;13337 |
| BOE Technology Group Company, Ltd., Class A | 248600 | 120571 |
| Bohai Leasing Company, Ltd., Class A (A) | &nbsp;&nbsp;50900 | &nbsp;&nbsp;&nbsp;16161 |
| Bright Dairy & Food Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;14836 |
| BTG Hotels Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;16020 |
| BYD Electronic International Company, Ltd. | &nbsp;&nbsp;63500 | 202924 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| C&S Paper Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7000 | $&nbsp;&nbsp;&nbsp;&nbsp;13799 |
| Cabbeen Fashion, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5221 |
| Caitong Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;33670 | &nbsp;&nbsp;&nbsp;&nbsp;34423 |
| Cangzhou Mingzhu Plastic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9928 |
| CECEP Solar Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34200 | &nbsp;&nbsp;&nbsp;&nbsp;35995 |
| CECEP Wind-Power Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;25480 | &nbsp;&nbsp;&nbsp;&nbsp;13947 |
| Central China Management Company, Ltd. | &nbsp;&nbsp;113732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9119 |
| Central China Real Estate, Ltd. | &nbsp;&nbsp;118093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314 |
| Changjiang Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp;15836 |
| Changsha Broad Homes Industrial Group Company, Ltd., H Shares (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8993 |
| Chaowei Power Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;18964 |
| Cheetah Mobile, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689 |
| Chengdu Kanghong Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;14877 |
| Chengtun Mining Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;10131 |
| Chengzhi Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448 |
| China BlueChemical, Ltd., H Shares | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;57219 |
| China Bohai Bank Company, Ltd., H Shares (B) | &nbsp;&nbsp;291000 | &nbsp;&nbsp;&nbsp;&nbsp;68754 |
| China Cinda Asset Management Company, Ltd., H Shares | &nbsp;&nbsp;588000 | &nbsp;&nbsp;&nbsp;&nbsp;81142 |
| China CITIC Bank Corp., Ltd., H Shares | &nbsp;&nbsp;670775 | &nbsp;&nbsp;&nbsp;&nbsp;296833 |
| China Coal Energy Company, Ltd., H Shares | &nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;144526 |
| China Communications Services Corp., Ltd., H Shares | &nbsp;&nbsp;217200 | &nbsp;&nbsp;&nbsp;&nbsp;79025 |
| China Conch Environment Protection Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826 |
| China Conch Venture Holdings, Ltd. | &nbsp;&nbsp;109000 | &nbsp;&nbsp;&nbsp;&nbsp;236457 |
| China Construction Bank Corp., H Shares | 8153000 | 5098809 |
| China CSSC Holdings, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;47650 |
| China Development Bank Financial Leasing Company, Ltd., H Shares (B) | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;16496 |
| China Dili Group (A)(C) | &nbsp;&nbsp;190600 | &nbsp;&nbsp;&nbsp;&nbsp;11282 |
| China Dongxiang Group Company, Ltd. | &nbsp;&nbsp;361000 | &nbsp;&nbsp;&nbsp;&nbsp;14297 |
| China Eastern Airlines Corp., Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;30785 |
| China Electronics Optics Valley Union Holding Company, Ltd. | &nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;15307 |
| China Energy Engineering Corp., Ltd., H Shares | &nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;18819 |
| China Everbright Bank Company, Ltd., H Shares | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;75509 |
| China Galaxy Securities Company, Ltd., H Shares | &nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;146342 |
| China Great Wall Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp;14016 |
| China Greatwall Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;20927 |
| China Green Electricity Investment of Tianjin Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;14228 |
| China Hanking Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6133 |
| China Harmony Auto Holding, Ltd. | &nbsp;&nbsp;105500 | &nbsp;&nbsp;&nbsp;&nbsp;16144 |
| China Hongqiao Group, Ltd. | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;234845 |
| China Huiyuan Juice Group, Ltd. (A)(C) | &nbsp;&nbsp;212500 | &nbsp;&nbsp;&nbsp;&nbsp;13748 |
| China International Marine Containers Group Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;97050 | &nbsp;&nbsp;&nbsp;&nbsp;73420 |
| China Jushi Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;&nbsp;35814 |
| China Kepei Education Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;26868 |
| China Lesso Group Holdings, Ltd. | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;137955 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| China Lilang, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72000 | $&nbsp;&nbsp;&nbsp;&nbsp;34626 |
| China Maple Leaf Educational Systems, Ltd. (A)(C) | &nbsp;&nbsp;222000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101 |
| China Medical System Holdings, Ltd. | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;211247 |
| China Meheco Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6160 | &nbsp;&nbsp;&nbsp;&nbsp;15293 |
| China Merchants Bank Company, Ltd., H Shares | &nbsp;&nbsp;298500 | 1651856 |
| China Merchants Property Operation & Service Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9474 |
| China Merchants Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;29480 | &nbsp;&nbsp;&nbsp;&nbsp;28869 |
| China Merchants Shekou Industrial Zone Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;19600 | &nbsp;&nbsp;&nbsp;&nbsp;35474 |
| China Minsheng Banking Corp., Ltd., H Shares | &nbsp;&nbsp;371400 | &nbsp;&nbsp;&nbsp;&nbsp;128339 |
| China Modern Dairy Holdings, Ltd. | &nbsp;&nbsp;171000 | &nbsp;&nbsp;&nbsp;&nbsp;21632 |
| China National Accord Medicines Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9934 |
| China National Building Material Company, Ltd., H Shares | &nbsp;&nbsp;415450 | &nbsp;&nbsp;&nbsp;&nbsp;339452 |
| China National Chemical Engineering Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp;26684 |
| China National Medicines Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;12821 |
| China National Nuclear Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;99100 | &nbsp;&nbsp;&nbsp;&nbsp;85428 |
| China New Higher Education Group, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;43068 |
| China Nonferrous Mining Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;11260 |
| China Oilfield Services, Ltd., H Shares | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;155578 |
| China Oriental Group Company, Ltd. | &nbsp;&nbsp;164000 | &nbsp;&nbsp;&nbsp;&nbsp;29947 |
| China Pacific Insurance Group Company, Ltd., H Shares | &nbsp;&nbsp;197000 | &nbsp;&nbsp;&nbsp;&nbsp;435629 |
| China Petroleum & Chemical Corp., H Shares | 1826000 | &nbsp;&nbsp;&nbsp;&nbsp;879789 |
| China Railway Group, Ltd., H Shares | &nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;164352 |
| China Railway Signal & Communication Corp., Ltd., H Shares (B) | &nbsp;&nbsp;166000 | &nbsp;&nbsp;&nbsp;&nbsp;54134 |
| China Reinsurance Group Corp., H Shares | &nbsp;&nbsp;554000 | &nbsp;&nbsp;&nbsp;&nbsp;35022 |
| China Renaissance Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;12413 |
| China Resources Double Crane Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;16200 |
| China Resources Medical Holdings Company, Ltd. | &nbsp;&nbsp;103000 | &nbsp;&nbsp;&nbsp;&nbsp;75633 |
| China Resources Pharmaceutical Group, Ltd. (B) | &nbsp;&nbsp;195500 | &nbsp;&nbsp;&nbsp;&nbsp;157685 |
| China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;38383 |
| China Risun Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;28110 |
| China Sanjiang Fine Chemicals Company, Ltd. | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;18833 |
| China SCE Group Holdings, Ltd. | &nbsp;&nbsp;229200 | &nbsp;&nbsp;&nbsp;&nbsp;28579 |
| China Shanshui Cement Group, Ltd. (A) | &nbsp;&nbsp;117000 | &nbsp;&nbsp;&nbsp;&nbsp;24350 |
| China Shenhua Energy Company, Ltd., H Shares | &nbsp;&nbsp;288500 | &nbsp;&nbsp;&nbsp;&nbsp;831076 |
| China Shineway Pharmaceutical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;31040 |
| China Silver Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738 |
| China South Publishing & Media Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;21343 |
| China Southern Airlines Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;60958 |
| China State Construction Engineering Corp., Ltd., Class A | &nbsp;&nbsp;265600 | &nbsp;&nbsp;&nbsp;&nbsp;206944 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| China Sunshine Paper Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31500 | $&nbsp;&nbsp;&nbsp;&nbsp;8666 |
| China Taifeng Beddings Holdings, Ltd. (A)(C) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;12702 |
| China Tower Corp., Ltd., H Shares (B) | 3970000 | 426009 |
| China TransInfo Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;12177 |
| China Tungsten And Hightech Materials Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;19590 |
| China Vanke Company, Ltd., H Shares | &nbsp;&nbsp;164892 | 331720 |
| China XLX Fertiliser, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;30037 |
| China Yongda Automobiles Services Holdings, Ltd. | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;74716 |
| China Yuhua Education Corp., Ltd. (A)(B)(C) | &nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;20734 |
| China Zheshang Bank Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;14987 |
| China Zhongwang Holdings, Ltd. (A)(C) | &nbsp;&nbsp;196800 | &nbsp;&nbsp;&nbsp;42358 |
| Chinasoft International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;22508 |
| Chinese Universe Publishing and Media Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;8520 |
| Chongqing Changan Automobile Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34190 | &nbsp;&nbsp;&nbsp;60418 |
| Chongqing Rural Commercial Bank Company, Ltd., H Shares | &nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;53298 |
| Chow Tai Seng Jewellery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;7458 |
| CITIC Securities Company, Ltd., H Shares | &nbsp;&nbsp;129525 | 260861 |
| CITIC, Ltd. | &nbsp;&nbsp;350130 | 368138 |
| CMGE Technology Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;6884 |
| CMST Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;21400 | &nbsp;&nbsp;&nbsp;15292 |
| CNHTC Jinan Truck Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;12779 |
| CNOOC Energy Technology & Services, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;13658 |
| COFCO Biotechnology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;18251 |
| COFCO Joycome Foods, Ltd. (A) | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;57515 |
| Colour Life Services Group Company, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;6169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 |
| Consun Pharmaceutical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;9818 |
| COSCO SHIPPING Development Company, Ltd., H Shares | &nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;57745 |
| COSCO SHIPPING Energy Transportation Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;22930 |
| COSCO SHIPPING Holdings Company, Ltd., H Shares | &nbsp;&nbsp;252500 | 256677 |
| Country Garden Holdings Company, Ltd. | &nbsp;&nbsp;835155 | 281318 |
| CPMC Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;41021 |
| CSG Holding Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13900 | &nbsp;&nbsp;&nbsp;13399 |
| CT Environmental Group, Ltd. (A)(C) | &nbsp;&nbsp;164000 | &nbsp;&nbsp;&nbsp;&nbsp;2500 |
| CTS International Logistics Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;12327 |
| Dexin China Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;6397 |
| DHC Software Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;8784 |
| Dian Diagnostics Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;8303 |
| Digital China Information Service Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;12053 |
| Dong-E-E-Jiao Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;12282 |
| Dongfang Electric Corp., Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;31543 |
| Dongfeng Motor Group Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;43425 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Dongxing Securities Company, Ltd., Class A | &nbsp;&nbsp;12000 | $&nbsp;&nbsp;&nbsp;13297 |
| Dongyue Group, Ltd. | &nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;99668 |
| DouYu International Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;4757 |
| East Group Company, Ltd., Class A | &nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;26382 |
| E-Commodities Holdings, Ltd. | 200000 | &nbsp;&nbsp;&nbsp;40346 |
| Edvantage Group Holdings, Ltd. | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;17112 |
| Everbright Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;17144 |
| Fang Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Fangda Carbon New Material Company, Ltd., Class A (A) | &nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;11596 |
| Fangda Special Steel Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;7606 |
| Fanhua, Inc., ADR | &nbsp;&nbsp;&nbsp;2603 | &nbsp;&nbsp;&nbsp;19262 |
| FAW Jiefang Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;10324 |
| Fiberhome Telecommunication Technologies Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;9433 |
| FIH Mobile, Ltd. (A) | 306000 | &nbsp;&nbsp;&nbsp;32903 |
| FinVolution Group, ADR | &nbsp;&nbsp;&nbsp;6795 | &nbsp;&nbsp;&nbsp;33703 |
| First Capital Securities Company, Ltd., Class A | &nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;15029 |
| Fosun International, Ltd. | 195460 | 158650 |
| Founder Securities Company, Ltd., Class A | &nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;28855 |
| Foxconn Industrial Internet Company, Ltd., Class A | &nbsp;&nbsp;66400 | &nbsp;&nbsp;&nbsp;87581 |
| Fu Shou Yuan International Group, Ltd. | 103000 | &nbsp;&nbsp;&nbsp;87998 |
| Fufeng Group, Ltd. | 182200 | 110506 |
| Fujian Funeng Company, Ltd., Class A | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;19743 |
| Fujian Sunner Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;22790 |
| Gansu Shangfeng Cement Company, Ltd., Class A | &nbsp;&nbsp;10080 | &nbsp;&nbsp;&nbsp;15461 |
| GDS Holdings, Ltd., Class A (A) | &nbsp;&nbsp;48500 | 125585 |
| GEM Company, Ltd., Class A | &nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;27539 |
| Gemdale Corp., Class A | &nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;24259 |
| Genertec Universal Medical Group Company, Ltd. (B) | &nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;59953 |
| GF Securities Company, Ltd., H Shares | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;71578 |
| Giant Network Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;9149 |
| Glory Health Industry, Ltd. (A) | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;2784 |
| GoerTek, Inc., Class A | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;36259 |
| Gotion High-tech Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;22730 |
| Grand Baoxin Auto Group, Ltd. (A) | 219500 | &nbsp;&nbsp;&nbsp;12486 |
| Grandjoy Holdings Group Company, Ltd., Class A (A) | &nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;12127 |
| Greatview Aseptic Packaging Company, Ltd. (A) | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;8210 |
| Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;94072 |
| Greenland Hong Kong Holdings, Ltd. | &nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;8406 |
| Greentown China Holdings, Ltd. | 102500 | 148218 |
| GRG Banking Equipment Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;9697 |
| Guangdong Tapai Group Company, Ltd., Class A | &nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;13460 |
| Guangdong Xinbao Electrical Appliances Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;12912 |
| Guanghui Energy Company, Ltd., Class A | &nbsp;&nbsp;34100 | &nbsp;&nbsp;&nbsp;44248 |
| Guangshen Railway Company, Ltd., H Shares (A) | 211600 | &nbsp;&nbsp;&nbsp;38926 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Guangxi Liugong Machinery Company, Ltd., Class A | &nbsp;&nbsp;12000 | $&nbsp;&nbsp;&nbsp;10140 |
| Guangzhou Automobile Group Company, Ltd., H Shares | 154000 | 103135 |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company, Ltd., H Shares | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;46893 |
| Guangzhou Haige Communications Group, Inc. Company, Class A | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;11203 |
| Guangzhou Yuexiu Capital Holdings Group Company, Ltd., Class A | &nbsp;&nbsp;22950 | &nbsp;&nbsp;&nbsp;19709 |
| Guizhou Panjiang Refined Coal Company, Ltd., Class A | &nbsp;&nbsp;18700 | &nbsp;&nbsp;&nbsp;18042 |
| Guizhou Xinbang Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp;7229 |
| Guosen Securities Company, Ltd., Class A | &nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;45536 |
| Guotai Junan Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;34600 | &nbsp;&nbsp;&nbsp;38866 |
| Guoyuan Securities Company, Ltd., Class A | &nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;15822 |
| Haitian International Holdings, Ltd. | &nbsp;&nbsp;70000 | 186566 |
| Haitong Securities Company, Ltd., H Shares | 188000 | 115303 |
| Hang Zhou Great Star Industrial Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;11732 |
| Hangcha Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;14012 |
| Hangzhou Binjiang Real Estate Group Company, Ltd., Class A | &nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;25631 |
| Hangzhou Robam Appliances Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;17535 |
| Han's Laser Technology Industry Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;29406 |
| Harbin Bank Company, Ltd., H Shares (A)(B) | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;3155 |
| Harbin Electric Company, Ltd., H Shares (A) | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;33516 |
| HBIS Resources Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;8865 |
| HC Group, Inc. (A) | &nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;&nbsp;4060 |
| Heilongjiang Agriculture Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;18001 |
| Henan Shenhuo Coal & Power Company, Ltd., Class A | &nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;33881 |
| Hengan International Group Company, Ltd. | &nbsp;&nbsp;63500 | 336669 |
| Hengli Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;35401 | &nbsp;&nbsp;&nbsp;78945 |
| Hengtong Optic-electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;10374 |
| Hengyi Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;23800 | &nbsp;&nbsp;&nbsp;24015 |
| Hesteel Company, Ltd., Class A | &nbsp;&nbsp;54700 | &nbsp;&nbsp;&nbsp;17762 |
| Hiroca Holdings, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;11146 |
| Hisense Home Appliances Group Company, Ltd., H Shares | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;42823 |
| Hongda Xingye Company, Ltd., Class A (A) | &nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;13428 |
| Honghua Group, Ltd. (A) | 367000 | &nbsp;&nbsp;&nbsp;11210 |
| Honworld Group, Ltd. (A)(B) | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;6672 |
| Hope Education Group Company, Ltd. (B) | 352000 | &nbsp;&nbsp;&nbsp;31451 |
| Hua Hong Semiconductor, Ltd. (A)(B) | &nbsp;&nbsp;47000 | 162865 |
| Huafon Chemical Company, Ltd., Class A | &nbsp;&nbsp;21100 | &nbsp;&nbsp;&nbsp;20592 |
| Huaibei Mining Holdings Company, Ltd., Class A | &nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;18932 |
| Huapont Life Sciences Company, Ltd., Class A | &nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp;7840 |
| Huatai Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;78200 | &nbsp;&nbsp;&nbsp;89188 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Huaxi Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7563 |
| Huaxia Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;65400 | &nbsp;&nbsp;&nbsp;&nbsp;48799 |
| Huaxin Cement Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;15101 |
| Huayu Automotive Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp;56412 |
| Hubei Biocause Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9476 |
| Hubei Jumpcan Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;28961 |
| Hubei Xingfa Chemicals Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;32857 |
| Huishang Bank Corp., Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;63300 | &nbsp;&nbsp;&nbsp;&nbsp;20088 |
| Humanwell Healthcare Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp;42825 |
| Hunan Valin Steel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;29689 |
| Hytera Communications Corp, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp;10859 |
| iDreamSky Technology Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;60400 | &nbsp;&nbsp;&nbsp;&nbsp;29785 |
| Industrial & Commercial Bank of China, Ltd., H Shares | 4266000 | 2187987 |
| Industrial Bank Company, Ltd., Class A | &nbsp;&nbsp;131700 | &nbsp;&nbsp;&nbsp;&nbsp;332603 |
| Industrial Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;37960 | &nbsp;&nbsp;&nbsp;&nbsp;31263 |
| Ingdan, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;16812 |
| Inkeverse Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9278 |
| Inner Mongolia BaoTou Steel Union Company, Ltd., Class A | &nbsp;&nbsp;166200 | &nbsp;&nbsp;&nbsp;&nbsp;45835 |
| Inner Mongolia Dian Tou Energy Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;15232 |
| Inner Mongolia ERDOS Resources Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;13730 |
| Inner Mongolia Junzheng Energy & Chemical Industry Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;43700 | &nbsp;&nbsp;&nbsp;&nbsp;25018 |
| Inner Mongolia Xingye Mining Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;12053 |
| Inner Mongolia Yitai Coal Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;25700 | &nbsp;&nbsp;&nbsp;&nbsp;33023 |
| Inner Mongolia Yuan Xing Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp;20814 |
| Inspur Electronic Information Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;28726 |
| Intco Medical Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3840 | &nbsp;&nbsp;&nbsp;&nbsp;11609 |
| JCET Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;33426 |
| Jiangsu Changshu Rural Commercial Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;&nbsp;19716 |
| Jiangsu Guotai International Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9275 |
| Jiangsu Jiangyin Rural Commercial Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp;10220 |
| Jiangsu Linyang Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp;16398 |
| Jiangsu Provincial Agricultural Reclamation and Development Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;19061 |
| Jiangsu Shagang Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;15239 |
| Jiangsu Shuangxing Color Plastic New Materials Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 |
| Jiangsu Zhangjiagang Rural Commercial Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16680 | &nbsp;&nbsp;&nbsp;&nbsp;11048 |
| Jiangsu Zhongtian Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp;24366 |
| Jiangxi Copper Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;120389 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Jilin Aodong Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4700 | $&nbsp;&nbsp;&nbsp;10118 |
| Jingrui Holdings, Ltd. (A)(C) | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;5216 |
| Jinmao Property Services Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;7552 | &nbsp;&nbsp;&nbsp;&nbsp;3932 |
| Jinneng Science&Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;11343 |
| Jizhong Energy Resources Company, Ltd., Class A | &nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;16622 |
| JNBY Design, Ltd. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;13071 |
| Joincare Pharmaceutical Group Industry Company, Ltd., Class A | &nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;18494 |
| Jointown Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;14424 |
| Juneyao Airlines Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;15554 |
| Kangda International Environmental Company, Ltd. (A)(B) | 140000 | &nbsp;&nbsp;&nbsp;10389 |
| Kasen International Holdings, Ltd. (A) | 119000 | &nbsp;&nbsp;&nbsp;&nbsp;6605 |
| Keshun Waterproof Technologies Company, Ltd., Class A (A) | &nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;19294 |
| Kingfa Sci & Tech Company, Ltd., Class A | &nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;17398 |
| Kingsoft Corp., Ltd. | &nbsp;&nbsp;93600 | 310196 |
| Kunlun Tech Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;6406 |
| KWG Group Holdings, Ltd. (A) | 154013 | &nbsp;&nbsp;&nbsp;36360 |
| KWG Living Group Holdings, Ltd. | &nbsp;&nbsp;88506 | &nbsp;&nbsp;&nbsp;19472 |
| Lakala Payment Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;10901 |
| LB Group Company, Ltd., Class A | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;36359 |
| Legend Holdings Corp., H Shares (B) | &nbsp;&nbsp;66200 | &nbsp;&nbsp;&nbsp;70580 |
| Lens Technology Company, Ltd., Class A | &nbsp;&nbsp;31900 | &nbsp;&nbsp;&nbsp;48232 |
| Leo Group Company, Ltd., Class A (A) | &nbsp;&nbsp;58700 | &nbsp;&nbsp;&nbsp;14914 |
| LexinFintech Holdings, Ltd., ADR (A) | &nbsp;&nbsp;14967 | &nbsp;&nbsp;&nbsp;28437 |
| Leyard Optoelectronic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;7963 |
| Liaoning Cheng Da Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;12655 |
| Liaoning Port Company, Ltd., H Shares | 204000 | &nbsp;&nbsp;&nbsp;17749 |
| Lier Chemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5460 | &nbsp;&nbsp;&nbsp;14076 |
| Lingyi iTech Guangdong Company, Class A (A) | &nbsp;&nbsp;42900 | &nbsp;&nbsp;&nbsp;27992 |
| Longfor Group Holdings, Ltd. (B) | 157500 | 484654 |
| Lonking Holdings, Ltd. | 277000 | &nbsp;&nbsp;&nbsp;48429 |
| Luxi Chemical Group Company, Ltd., Class A | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;25955 |
| Luye Pharma Group, Ltd. (A)(B) | 235000 | 109949 |
| Maanshan Iron & Steel Company, Ltd., H Shares | 108000 | &nbsp;&nbsp;&nbsp;25060 |
| Maccura Biotechnology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;16903 |
| Mango Excellent Media Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;34454 |
| Maoyan Entertainment (A)(B) | &nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;22306 |
| Mayinglong Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;16889 |
| Meinian Onehealth Healthcare Holdings Company, Ltd., Class A (A) | &nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;12773 |
| Meitu, Inc. (A)(B) | 104000 | &nbsp;&nbsp;&nbsp;18185 |
| Metallurgical Corp. of China, Ltd., H Shares | 185000 | &nbsp;&nbsp;&nbsp;40855 |
| Midea Real Estate Holding, Ltd. (B) | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;14763 |
| Ming Yang Smart Energy Group, Ltd., Class A | &nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;33368 |
| Minth Group, Ltd. | &nbsp;&nbsp;62000 | 167350 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| MLS Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9700 | $&nbsp;&nbsp;&nbsp;&nbsp;11294 |
| Nanjing Iron & Steel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;17208 |
| NavInfo Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;18508 |
| NetDragon Websoft Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;36362 |
| New China Life Insurance Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;63200 | &nbsp;&nbsp;&nbsp;&nbsp;153872 |
| New Hope Liuhe Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;30581 |
| Newland Digital Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8593 |
| Ningbo Huaxiang Electronic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;12975 |
| Ningbo Joyson Electronic Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;16348 |
| Ningbo Sanxing Medical Electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8706 |
| Ningbo Zhoushan Port Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9210 |
| Ningxia Baofeng Energy Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp;26852 |
| Noah Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;1849 | &nbsp;&nbsp;&nbsp;&nbsp;28660 |
| North Industries Group Red Arrow Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;19157 |
| Northeast Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9818 |
| NVC International Holdings, Ltd. (A) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3233 |
| Offshore Oil Engineering Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;30700 | &nbsp;&nbsp;&nbsp;&nbsp;26748 |
| Orient Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;20039 |
| PCI Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp;12966 |
| Pengdu Agriculture & Animal Husbandry Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;16306 |
| Perfect World Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;16439 |
| PetroChina Company, Ltd., H Shares | 1912000 | &nbsp;&nbsp;&nbsp;&nbsp;873389 |
| PICC Property & Casualty Company, Ltd., H Shares | &nbsp;&nbsp;436000 | &nbsp;&nbsp;&nbsp;&nbsp;412236 |
| Ping An Bank Company, Ltd., Class A | &nbsp;&nbsp;116600 | &nbsp;&nbsp;&nbsp;&nbsp;220096 |
| Ping An Insurance Group Company of China, Ltd., H Shares | &nbsp;&nbsp;416500 | 2736299 |
| Pingdingshan Tianan Coal Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;23249 |
| Postal Savings Bank of China Company, Ltd., H Shares (B) | &nbsp;&nbsp;536000 | &nbsp;&nbsp;&nbsp;&nbsp;331685 |
| Power Construction Corp. of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;61800 | &nbsp;&nbsp;&nbsp;&nbsp;62736 |
| Q Technology Group Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;19828 |
| Qingdao Port International Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9183 |
| Qingdao Rural Commercial Bank Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34400 | &nbsp;&nbsp;&nbsp;&nbsp;14290 |
| Qingling Motors Company, Ltd., H Shares | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;16313 |
| Qunxing Paper Holdings Company, Ltd. (A)(C) | &nbsp;&nbsp;634371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Radiance Holdings Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;11175 |
| Red Star Macalline Group Corp., Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;62480 | &nbsp;&nbsp;&nbsp;&nbsp;19899 |
| Redco Properties Group, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;19769 |
| Renhe Pharmacy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp;13172 |
| Risen Energy Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9972 |
| RiseSun Real Estate Development Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4982 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Riyue Heavy Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8200 | $&nbsp;&nbsp;&nbsp;23886 |
| Rongsheng Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;52100 | &nbsp;&nbsp;&nbsp;92041 |
| SAIC Motor Corp., Ltd., Class A | &nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;45933 |
| Sailun Group Company, Ltd., Class A | &nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;20448 |
| Sansteel Minguang Company, Ltd., Class A | &nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;11418 |
| Sansure Biotech, Inc., Class A | &nbsp;&nbsp;&nbsp;3136 | &nbsp;&nbsp;&nbsp;&nbsp;9909 |
| Sany Heavy Equipment International Holdings Company, Ltd. | &nbsp;&nbsp;99000 | 101276 |
| Sany Heavy Industry Company, Ltd., Class A | &nbsp;&nbsp;31600 | &nbsp;&nbsp;&nbsp;71543 |
| Satellite Chemical Company, Ltd., Class A | &nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;45155 |
| SDIC Capital Company, Ltd., Class A | &nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;13474 |
| Sealand Securities Company, Ltd., Class A | &nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;12053 |
| Seazen Group, Ltd. (A) | 251428 | &nbsp;&nbsp;&nbsp;92024 |
| Seazen Holdings Company, Ltd., Class A (A) | &nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;43363 |
| SF Holding Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;61327 |
| Shaanxi Coal Industry Company, Ltd., Class A | &nbsp;&nbsp;59000 | 157483 |
| Shan Xi Hua Yang Group New Energy Company, Ltd., Class A | &nbsp;&nbsp;18100 | &nbsp;&nbsp;&nbsp;36971 |
| Shandong Bohui Paper Industrial Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;8931 |
| Shandong Buchang Pharmaceuticals Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;10838 |
| Shandong Chenming Paper Holdings, Ltd., H Shares (A) | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;12941 |
| Shandong Himile Mechanical Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;17298 |
| Shandong Hualu Hengsheng Chemical Company, Ltd., Class A | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;69506 |
| Shandong Linglong Tyre Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;25276 |
| Shandong Nanshan Aluminum Company, Ltd., Class A | &nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;22885 |
| Shandong Sun Paper Industry JSC, Ltd., Class A | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;22497 |
| Shandong Weigao Group Medical Polymer Company, Ltd., H Shares | 140800 | 230063 |
| Shanghai AJ Group Company, Ltd., Class A | &nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;16894 |
| Shanghai AtHub Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;18565 |
| Shanghai Bailian Group Company, Ltd., Class A | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;23327 |
| Shanghai Construction Group Company, Ltd., Class A | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;15325 |
| Shanghai Electric Group Company, Ltd., H Shares (A) | 158000 | &nbsp;&nbsp;&nbsp;35556 |
| Shanghai Environment Group Company, Ltd., Class A | &nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;15133 |
| Shanghai International Port Group Company, Ltd., Class A | &nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;33924 |
| Shanghai Jinjiang International Hotels Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;27621 |
| Shanghai Lingang Holdings Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;11987 |
| Shanghai Lujiazui Finance & Trade Zone Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;9087 |
| Shanghai Mechanical and Electrical Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;7089 |
| Shanghai Pharmaceuticals Holding Company, Ltd., H Shares | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;99609 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Shanghai Pudong Development Bank Company, Ltd., Class A | 121600 | $127171 |
| Shanghai RAAS Blood Products Company, Ltd., Class A | &nbsp;&nbsp;29400 | &nbsp;&nbsp;&nbsp;26797 |
| Shanghai Sinyang Semiconductor Materials Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;11175 |
| Shanghai Tunnel Engineering Company, Ltd., Class A | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;18164 |
| Shanghai Yuyuan Tourist Mart Group Company, Ltd., Class A | &nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;30811 |
| Shanghai Zhangjiang High-Tech Park Development Company, Ltd., Class A | &nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;21654 |
| Shanxi Coking Coal Energy Group Company, Ltd., Class A | &nbsp;&nbsp;22900 | &nbsp;&nbsp;&nbsp;38307 |
| Shanxi Coking Company, Ltd., Class A | &nbsp;&nbsp;16400 | &nbsp;&nbsp;&nbsp;12738 |
| Shanxi Lu'an Environmental Energy Development Company, Ltd., Class A | &nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;51483 |
| Shanxi Taigang Stainless Steel Company, Ltd., Class A | &nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;24895 |
| Shanying International Holding Company, Ltd., Class A | &nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;14282 |
| Shengjing Bank Company, Ltd., H Shares (A)(B) | &nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;13559 |
| Shenguan Holdings Group, Ltd. | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;3456 |
| Shengyi Technology Company, Ltd., Class A | &nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;31862 |
| Shenwan Hongyuan Group Company, Ltd., H Shares (B) | 143200 | &nbsp;&nbsp;&nbsp;26537 |
| Shenzhen Agricultural Products Group Company, Ltd., Class A | &nbsp;&nbsp;22100 | &nbsp;&nbsp;&nbsp;18105 |
| Shenzhen Airport Company, Ltd., Class A | &nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;13772 |
| Shenzhen Aisidi Company, Ltd., Class A | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;17831 |
| Shenzhen Everwin Precision Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;8907 |
| Shenzhen Gas Corp, Ltd., Class A | &nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;16184 |
| Shenzhen Huaqiang Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;7535 |
| Shenzhen Jinjia Group Company, Ltd., Class A | &nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;11948 |
| Shenzhen Kaifa Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;13515 |
| Shenzhen Kinwong Electronic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;8428 |
| Shenzhen Microgate Technology Company, Ltd., Class A | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;16315 |
| Shenzhen MTC Company, Ltd., Class A (A) | &nbsp;&nbsp;26800 | &nbsp;&nbsp;&nbsp;13431 |
| Shenzhen Overseas Chinese Town Company, Ltd., Class A | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;33604 |
| Shenzhen Suntak Circuit Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;12101 |
| Shenzhen Sunway Communication Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;23234 |
| Shenzhen YUTO Packaging Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;11411 |
| Shenzhen Zhongjin Lingnan Nonfemet Company, Ltd., Class A | &nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;9717 |
| Shui On Land, Ltd. | 390961 | &nbsp;&nbsp;&nbsp;49556 |
| Sichuan Development Lomon Company, Ltd., Class A (A) | &nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;19202 |
| Sichuan Hebang Biotechnology Company, Ltd., Class A | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;30144 |
| Sichuan Kelun Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;43577 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Sichuan Road & Bridge Group Company, Ltd., Class A | &nbsp;&nbsp;26700 | $&nbsp;&nbsp;&nbsp;42641 |
| Sihuan Pharmaceutical Holdings Group, Ltd. | 343000 | &nbsp;&nbsp;&nbsp;41587 |
| Sinolink Securities Company, Ltd., Class A | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;17860 |
| Sinoma International Engineering Company, Class A | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;26437 |
| Sinoma Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;24287 |
| Sino-Ocean Group Holding, Ltd. | 333973 | &nbsp;&nbsp;&nbsp;46302 |
| Sinopec Engineering Group Company, Ltd., H Shares | 129000 | &nbsp;&nbsp;&nbsp;56568 |
| Sinopec Shanghai Petrochemical Company, Ltd., H Shares | 300000 | &nbsp;&nbsp;&nbsp;50627 |
| Sinopharm Group Company, Ltd., H Shares | 138800 | 351318 |
| Sinotrans, Ltd., H Shares | 242000 | &nbsp;&nbsp;&nbsp;78549 |
| Sinotruk Hong Kong, Ltd. | &nbsp;&nbsp;85500 | 118774 |
| SOHO China, Ltd. (A) | 247000 | &nbsp;&nbsp;&nbsp;43162 |
| SooChow Securities Company, Ltd., Class A | &nbsp;&nbsp;19110 | &nbsp;&nbsp;&nbsp;17922 |
| Southwest Securities Company, Ltd., Class A | &nbsp;&nbsp;28700 | &nbsp;&nbsp;&nbsp;15452 |
| Suning Universal Company, Ltd., Class A | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;7104 |
| Suning.com Company, Ltd., Class A (A) | &nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp;8512 |
| Sunshine 100 China Holdings, Ltd. (A)(B)(C) | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;3285 |
| Suzhou Anjie Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;12956 |
| Suzhou Dongshan Precision Manufacturing Company, Ltd., Class A | &nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;41577 |
| Suzhou Gold Mantis Construction Decoration Company, Ltd., Class A (A) | &nbsp;&nbsp;21200 | &nbsp;&nbsp;&nbsp;14754 |
| Tangshan Jidong Cement Company, Ltd., Class A | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;12995 |
| TangShan Port Group Company, Ltd., Class A | &nbsp;&nbsp;52100 | &nbsp;&nbsp;&nbsp;20523 |
| Tangshan Sanyou Chemical Industries Company, Ltd., Class A | &nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;13957 |
| TBEA Company, Ltd., Class A | &nbsp;&nbsp;22600 | &nbsp;&nbsp;&nbsp;65071 |
| TCL Technology Group Corp., Class A | &nbsp;&nbsp;98900 | &nbsp;&nbsp;&nbsp;52756 |
| Ten Pao Group Holdings, Ltd. | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;14019 |
| Tencent Music Entertainment Group, ADR (A) | &nbsp;&nbsp;44713 | 370224 |
| Tenwow International Holdings, Ltd. (A)(C) | 121000 | &nbsp;&nbsp;&nbsp;&nbsp;4418 |
| The People's Insurance Company Group of China, Ltd., H Shares | 514000 | 170039 |
| Tian Di Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;25106 |
| Tian Ge Interactive Holdings, Ltd. (B) | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;3043 |
| Tiande Chemical Holdings, Ltd. | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;6714 |
| Tiangong International Company, Ltd. | 108000 | &nbsp;&nbsp;&nbsp;39735 |
| Tianjin Capital Environmental Protection Group Company, Ltd., H Shares | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;10025 |
| Tianjin Chase Sun Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;16885 |
| Tianma Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;12689 |
| Tianneng Power International, Ltd. | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;82122 |
| Tianshan Aluminum Group Company, Ltd., Class A | &nbsp;&nbsp;25100 | &nbsp;&nbsp;&nbsp;27794 |
| Tianshui Huatian Technology Company, Ltd., Class A | &nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;30040 |
| Tianyun International Holdings, Ltd. (A) | &nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp;7110 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Titan Wind Energy Suzhou Company, Ltd., Class A | &nbsp;&nbsp;12700 | $&nbsp;&nbsp;&nbsp;&nbsp;27539 |
| Tong Ren Tang Technologies Company, Ltd., H Shares | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;44660 |
| TongFu Microelectronics Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;17747 |
| Tongkun Group Company, Ltd., Class A | &nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;&nbsp;26733 |
| Tongling Nonferrous Metals Group Company, Ltd., Class A | &nbsp;&nbsp;72500 | &nbsp;&nbsp;&nbsp;&nbsp;32409 |
| Topsec Technologies Group, Inc., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;10033 |
| Transfar Zhilian Company, Ltd., Class A | &nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;12649 |
| Trigiant Group, Ltd. (A) | 158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7902 |
| Trip.com Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;25867 |
| Trip.com Group, Ltd., ADR (A) | &nbsp;&nbsp;29496 | 1014662 |
| Uni-President China Holdings, Ltd. | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;119777 |
| Unisplendour Corp., Ltd., Class A | &nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp;32513 |
| Universal Scientific Industrial Shanghai Company, Ltd., Class A | &nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;24245 |
| Valiant Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7368 |
| Victory Giant Technology Huizhou Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp;17476 |
| Vipshop Holdings, Ltd., ADR (A) | &nbsp;&nbsp;41848 | &nbsp;&nbsp;&nbsp;&nbsp;570807 |
| Viva Biotech Holdings (A)(B) | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;16515 |
| VNET Group, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;7345 | &nbsp;&nbsp;&nbsp;&nbsp;41646 |
| Wangsu Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;23700 | &nbsp;&nbsp;&nbsp;&nbsp;18985 |
| Wanxiang Qianchao Company, Ltd., Class A | &nbsp;&nbsp;23700 | &nbsp;&nbsp;&nbsp;&nbsp;16594 |
| Wasu Media Holding Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9578 |
| Weibo Corp., ADR (A) | &nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;40993 |
| Weichai Power Company, Ltd., H Shares | 174000 | &nbsp;&nbsp;&nbsp;&nbsp;230060 |
| Weifu High-Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;11209 |
| Weiqiao Textile Company, H Shares | &nbsp;&nbsp;73500 | &nbsp;&nbsp;&nbsp;&nbsp;15025 |
| West China Cement, Ltd. | 298000 | &nbsp;&nbsp;&nbsp;&nbsp;35038 |
| Western Securities Company, Ltd., Class A | &nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp;25185 |
| Wingtech Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;46709 |
| Wolong Electric Group Company, Ltd., Class A | &nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;18591 |
| Wuchan Zhongda Group Company, Ltd., Class A | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp;28319 |
| Wuhu Token Science Company, Ltd., Class A | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;17143 |
| WUS Printed Circuit Kunshan Company, Ltd., Class A | &nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp;23425 |
| Wuxi Taiji Industry Company, Ltd., Class A | &nbsp;&nbsp;16400 | &nbsp;&nbsp;&nbsp;&nbsp;12163 |
| XCMG Construction Machinery Company, Ltd., Class A | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;18935 |
| Xiamen C & D, Inc., Class A | &nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;18969 |
| Xiamen Intretech, Inc., Class A | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;17074 |
| Xiamen ITG Group Corp, Ltd., Class A | &nbsp;&nbsp;18100 | &nbsp;&nbsp;&nbsp;&nbsp;18579 |
| Xiamen Tungsten Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;17107 |
| Xiamen Xiangyu Company, Ltd., Class A | &nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;25664 |
| Xianhe Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;16176 |
| Xiaomi Corp., Class B (A)(B) | 566400 | &nbsp;&nbsp;&nbsp;&nbsp;786227 |
| Xinfengming Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;13587 |
| Xingda International Holdings, Ltd. | 147515 | &nbsp;&nbsp;&nbsp;&nbsp;29612 |
| Xingfa Aluminium Holdings, Ltd. | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;32260 |
| Xinhua Winshare Publishing and Media Company, Ltd., H Shares | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;34341 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Xinjiang Goldwind Science & Technology Company, Ltd., H Shares | &nbsp;&nbsp;47000 | $41664 |
| Xinjiang Tianshan Cement Company, Ltd., Class A | &nbsp;&nbsp;15900 | 19423 |
| Xinjiang Zhongtai Chemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;8681 |
| Xinte Energy Company, Ltd., H Shares | &nbsp;&nbsp;28400 | 52342 |
| Xinxing Ductile Iron Pipes Company, Ltd., Class A | &nbsp;&nbsp;33500 | 17572 |
| Xinyangfeng Agricultural Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;9745 |
| Xinyi Energy Holdings, Ltd. | 108000 | 35705 |
| Xinyu Iron & Steel Company, Ltd., Class A | &nbsp;&nbsp;24700 | 14498 |
| Xuji Electric Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5200 | 14909 |
| Yantai Jereh Oilfield Services Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6300 | 25264 |
| YiChang HEC ChangJiang Pharmaceutical Company, Ltd., H Shares (A)(B) | &nbsp;&nbsp;33400 | 27713 |
| Yifan Pharmaceutical Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;9154 |
| Yiren Digital, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;5014 | &nbsp;&nbsp;&nbsp;6869 |
| Yixintang Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;9960 |
| Youngor Group Company, Ltd., Class A | &nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;9461 |
| Youzu Interactive Company, Ltd., Class A (A) | &nbsp;&nbsp;15500 | 20635 |
| YTO Express Group Company, Ltd., Class A | &nbsp;&nbsp;14800 | 42702 |
| Yunda Holding Company, Ltd., Class A | &nbsp;&nbsp;10700 | 22078 |
| Yunnan Aluminium Company, Ltd., Class A | &nbsp;&nbsp;30700 | 48923 |
| Yunnan Baiyao Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6160 | 48099 |
| Yunnan Copper Company, Ltd., Class A | &nbsp;&nbsp;10000 | 16854 |
| Yunnan Tin Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5500 | 11102 |
| Zhefu Holding Group Company, Ltd., Class A | &nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;8303 |
| Zhejiang Century Huatong Group Company, Ltd., Class A (A) | &nbsp;&nbsp;30600 | 16730 |
| Zhejiang China Commodities City Group Company, Ltd., Class A | &nbsp;&nbsp;28122 | 21173 |
| Zhejiang Chint Electrics Company, Ltd., Class A | &nbsp;&nbsp;11000 | 43721 |
| Zhejiang Dahua Technology Company, Ltd., Class A | &nbsp;&nbsp;24000 | 38943 |
| Zhejiang Glass Company, Ltd., H Shares (A)(C) | 162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Zhejiang Hailiang Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6500 | 10552 |
| Zhejiang Hisoar Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;12100 | 12198 |
| Zhejiang Huace Film & Television Company, Ltd., Class A | &nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;8723 |
| Zhejiang Jiahua Energy Chemical Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8500 | 10215 |
| Zhejiang JIULI Hi-tech Metals Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6300 | 15047 |
| Zhejiang Juhua Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8900 | 19818 |
| Zhejiang Longsheng Group Company, Ltd., Class A | &nbsp;&nbsp;17400 | 24740 |
| Zhejiang NHU Company, Ltd., Class A | &nbsp;&nbsp;14400 | 38811 |
| Zhejiang Semir Garment Company, Ltd., Class A | &nbsp;&nbsp;15300 | 11509 |
| Zhejiang Wanfeng Auto Wheel Company, Ltd., Class A (A) | &nbsp;&nbsp;22500 | 19244 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Zhejiang Wanliyang Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;6300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7289 |
| Zhejiang Xianju Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17703 |
| Zhejiang Xinan Chemical Industrial Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14915 |
| Zhengzhou Coal Mining Machinery Group Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;25400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22217 |
| Zheshang Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15391 |
| Zhong An Group, Ltd. (A) | &nbsp;&nbsp;409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13075 |
| Zhongji Innolight Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19017 |
| Zhongjin Gold Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;31200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36650 |
| Zhongshan Broad Ocean Motor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14699 |
| Zhuhai Huafa Properties Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34887 |
| Zhuzhou CRRC Times Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74087 |
| Zhuzhou Kibing Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30552 |
| Zibo Qixiang Tengda Chemical Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12019 |
| Zoomlion Heavy Industry Science and Technology Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;90800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42779 |
| ZTE Corp., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;&nbsp;&nbsp;137085 |
|  |  | 48827094 |
| **Colombia - 0.1%** |  |  |
| Bancolombia SA | &nbsp;&nbsp;&nbsp;&nbsp;1879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16323 |
| Bancolombia SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55796 |
| Cementos Argos SA | &nbsp;&nbsp;&nbsp;&nbsp;24726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18367 |
| Grupo Argos SA | &nbsp;&nbsp;&nbsp;&nbsp;33112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64743 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;155229 |
| **Cyprus - 0.0%** |  |  |
| ASBISc Enterprises PLC | &nbsp;&nbsp;&nbsp;&nbsp;3999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21650 |
| **Czech Republic - 0.1%** |  |  |
| Komercni banka AS | &nbsp;&nbsp;&nbsp;&nbsp;5968 | &nbsp;&nbsp;&nbsp;&nbsp;172463 |
| Moneta Money Bank AS (B) | &nbsp;&nbsp;&nbsp;&nbsp;22384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;247748 |
| **Greece - 0.4%** |  |  |
| Alpha Services and Holdings SA (A) | &nbsp;&nbsp;115077 | &nbsp;&nbsp;&nbsp;&nbsp;123161 |
| Bank of Greece | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11949 |
| Eurobank Ergasias Services and Holdings SA (A) | &nbsp;&nbsp;180066 | &nbsp;&nbsp;&nbsp;&nbsp;202818 |
| Fourlis Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13072 |
| HELLENiQ ENERGY Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;4654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37812 |
| Intracom Holdings SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;7112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13733 |
| LAMDA Development SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26570 |
| Motor Oil Hellas Corinth Refineries SA | &nbsp;&nbsp;&nbsp;&nbsp;4652 | &nbsp;&nbsp;&nbsp;&nbsp;108348 |
| Mytilineos SA | &nbsp;&nbsp;&nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29699 |
| National Bank of Greece SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;32392 | &nbsp;&nbsp;&nbsp;&nbsp;129895 |
| Piraeus Financial Holdings SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;27498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42213 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;739270 |
| **Hong Kong - 4.3%** |  |  |
| AAG Energy Holdings, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15039 |
| Ajisen China Holdings, Ltd. | &nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15572 |
| Alibaba Pictures Group, Ltd. (A) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50905 |
| Anxin-China Holdings, Ltd. (A)(C) | 1648000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| APT Satellite Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560 |
| Asian Citrus Holdings, Ltd. (A) | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356 |
| Beijing Energy International Holding Company, Ltd. (A) | &nbsp;&nbsp;814000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24804 |
| Beijing Enterprises Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58500 | &nbsp;&nbsp;&nbsp;&nbsp;186779 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Beijing Enterprises Water Group, Ltd. | 438000 | $&nbsp;&nbsp;&nbsp;&nbsp;111999 |
| Brilliance China Automotive Holdings, Ltd. (A) | 216000 | &nbsp;&nbsp;&nbsp;&nbsp;120931 |
| C C Land Holdings, Ltd. | 125126 | &nbsp;&nbsp;&nbsp;&nbsp;31113 |
| C&D International Investment Group, Ltd. | &nbsp;&nbsp;16479 | &nbsp;&nbsp;&nbsp;&nbsp;47801 |
| CECEP COSTIN New Materials Group, Ltd. (A)(C) | 348000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| CGN New Energy Holdings Company, Ltd. | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;51729 |
| China Aerospace International Holdings, Ltd. | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;10206 |
| China Aircraft Leasing Group Holdings, Ltd. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;12705 |
| China Boton Group Company, Ltd. (A) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7063 |
| China Education Group Holdings, Ltd. | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;46292 |
| China Everbright Greentech, Ltd. (B) | 114000 | &nbsp;&nbsp;&nbsp;&nbsp;30779 |
| China Everbright, Ltd. | &nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;56328 |
| China Fiber Optic Network System Group, Ltd. (A)(C) | 150800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5410 |
| China Foods, Ltd. | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;&nbsp;26485 |
| China Gas Holdings, Ltd. | 254000 | &nbsp;&nbsp;&nbsp;&nbsp;368113 |
| China High Precision Automation Group, Ltd. (A)(C) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145 |
| China High Speed Transmission Equipment Group Company, Ltd. (A) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;20187 |
| China Jinmao Holdings Group, Ltd. | 541436 | &nbsp;&nbsp;&nbsp;&nbsp;115838 |
| China Longevity Group Company, Ltd. (A)(C) | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4897 |
| China Lumena New Materials Corp. (A)(C) | &nbsp;&nbsp;50900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China Merchants Land, Ltd. (A) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;18266 |
| China Merchants Port Holdings Company, Ltd. | &nbsp;&nbsp;88558 | &nbsp;&nbsp;&nbsp;&nbsp;129294 |
| China New Town Development Company, Ltd. (A) | 300165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 |
| China Oil & Gas Group, Ltd. (A) | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;22994 |
| China Overseas Grand Oceans Group, Ltd. | 205920 | &nbsp;&nbsp;&nbsp;&nbsp;88677 |
| China Overseas Land & Investment, Ltd. | 282500 | &nbsp;&nbsp;&nbsp;&nbsp;739267 |
| China Resources Cement Holdings, Ltd. | 282000 | &nbsp;&nbsp;&nbsp;&nbsp;149024 |
| China Resources Gas Group, Ltd. | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;320827 |
| China Resources Land, Ltd. | 310000 | 1410304 |
| China South City Holdings, Ltd. (A) | 498000 | &nbsp;&nbsp;&nbsp;&nbsp;35565 |
| China Taiping Insurance Holdings Company, Ltd. | 168000 | &nbsp;&nbsp;&nbsp;&nbsp;208447 |
| China Traditional Chinese Medicine Holdings Company, Ltd. | 336000 | &nbsp;&nbsp;&nbsp;&nbsp;152375 |
| China Travel International Investment Hong Kong, Ltd. (A) | 314000 | &nbsp;&nbsp;&nbsp;&nbsp;71146 |
| Chu Kong Shipping Enterprises Group Company, Ltd. | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455 |
| CIMC Enric Holdings, Ltd. | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70460 |
| CITIC Resources Holdings, Ltd. | 488000 | &nbsp;&nbsp;&nbsp;&nbsp;25906 |
| Concord New Energy Group, Ltd. | 690000 | &nbsp;&nbsp;&nbsp;&nbsp;60834 |
| COSCO SHIPPING International Hong Kong Company, Ltd. | &nbsp;&nbsp;59625 | &nbsp;&nbsp;&nbsp;&nbsp;19212 |
| COSCO SHIPPING Ports, Ltd. | 167235 | &nbsp;&nbsp;&nbsp;&nbsp;132717 |
| CSSC Hong Kong Shipping Company, Ltd. | 116000 | &nbsp;&nbsp;&nbsp;&nbsp;17220 |
| Dawnrays Pharmaceutical Holdings, Ltd. | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;19891 |
| Digital China Holdings, Ltd. | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;35483 |
| EVA Precision Industrial Holdings, Ltd. | &nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;12134 |
| Far East Horizon, Ltd. | 183000 | &nbsp;&nbsp;&nbsp;&nbsp;142542 |
| GCL Technology Holdings, Ltd. (A) | 523000 | &nbsp;&nbsp;&nbsp;&nbsp;131962 |
| Geely Automobile Holdings, Ltd. | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;505586 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Gemdale Properties & Investment Corp., Ltd. | &nbsp;&nbsp;778000 | $&nbsp;&nbsp;&nbsp;63395 |
| Glorious Property Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979 |
| Glory Sun Financial Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30600 | &nbsp;&nbsp;&nbsp;&nbsp;1707 |
| Goldlion Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;6116 |
| Goldpac Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;9302 |
| Grand Pharmaceutical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;50492 |
| Health & Happiness H&H International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;52012 |
| Hi Sun Technology China, Ltd. (A) | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;26071 |
| Hopson Development Holdings, Ltd. | &nbsp;&nbsp;100381 | &nbsp;&nbsp;&nbsp;98154 |
| Hua Han Health Industry Holdings, Ltd. (A)(C) | &nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;23901 |
| IMAX China Holding, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6304 |
| Jinchuan Group International Resources Company, Ltd. | &nbsp;&nbsp;127000 | &nbsp;&nbsp;&nbsp;&nbsp;9074 |
| Joy City Property, Ltd. (A) | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;13371 |
| Ju Teng International Holdings, Ltd. | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;22202 |
| Kingboard Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77130 | 244589 |
| Kingboard Laminates Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;96500 | 105750 |
| Kunlun Energy Company, Ltd. | &nbsp;&nbsp;380000 | 270162 |
| Lee & Man Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;9947 |
| Lee & Man Paper Manufacturing, Ltd. | &nbsp;&nbsp;129000 | &nbsp;&nbsp;&nbsp;56568 |
| Lee's Pharmaceutical Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;11252 |
| Lifestyle China Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;4816 |
| LVGEM China Real Estate Investment Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;9850 |
| Min Xin Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;8993 |
| Mingyuan Medicare Development Company, Ltd. (A)(C) | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Minmetals Land, Ltd. | &nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;7703 |
| New World Department Store China, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;3636 |
| Nine Dragons Paper Holdings, Ltd. | &nbsp;&nbsp;185000 | 168190 |
| Orient Overseas International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;18023 |
| Overseas Chinese Town Asia Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;6525 |
| PAX Global Technology, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;72303 |
| Poly Property Group Company, Ltd. | &nbsp;&nbsp;162126 | &nbsp;&nbsp;&nbsp;36161 |
| Pou Sheng International Holdings, Ltd. | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;21304 |
| Prinx Chengshan Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;14019 |
| Shandong Hi-Speed New Energy Group, Ltd. (A) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;4982 |
| Shanghai Industrial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;45617 |
| Shanghai Industrial Urban Development Group, Ltd. | &nbsp;&nbsp;359400 | &nbsp;&nbsp;&nbsp;30310 |
| Shenzhen International Holdings, Ltd. | &nbsp;&nbsp;135199 | 132339 |
| Shenzhen Investment, Ltd. | &nbsp;&nbsp;373271 | &nbsp;&nbsp;&nbsp;63933 |
| Shimao Group Holdings, Ltd. (A)(C) | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;76447 |
| Shoucheng Holdings, Ltd. | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;31117 |
| Shougang Fushan Resources Group, Ltd. | &nbsp;&nbsp;236565 | &nbsp;&nbsp;&nbsp;75448 |
| Silver Grant International Holdings Group, Ltd. (A) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;6681 |
| Sinofert Holdings, Ltd. (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;36429 |
| Sinopec Kantons Holdings, Ltd. | &nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;46753 |
| Skyworth Group, Ltd. | &nbsp;&nbsp;175190 | &nbsp;&nbsp;&nbsp;74775 |
| SSY Group, Ltd. | &nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;76010 |
| Sun Art Retail Group, Ltd. | &nbsp;&nbsp;171500 | &nbsp;&nbsp;&nbsp;55991 |
| Symphony Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;2278 |
| TCL Electronics Holdings, Ltd. (A) | &nbsp;&nbsp;114600 | &nbsp;&nbsp;&nbsp;45740 |
| The Wharf Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;84000 | 246403 |
| Tian An China Investment Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;27306 |
| Tianjin Port Development Holdings, Ltd. | &nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;34719 |
| Tomson Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45714 | &nbsp;&nbsp;&nbsp;&nbsp;9134 |
| Truly International Holdings, Ltd. | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;21168 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| United Energy Group, Ltd. | 542000 | $&nbsp;&nbsp;&nbsp;&nbsp;53405 |
| Vinda International Holdings, Ltd. | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;114475 |
| Wasion Holdings, Ltd. | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;29846 |
| Yuexiu Property Company, Ltd. | 165908 | &nbsp;&nbsp;&nbsp;&nbsp;200160 |
|  |  | 8893422 |
| **Hungary - 0.2%** |  |  |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp;43193 | &nbsp;&nbsp;&nbsp;&nbsp;301023 |
| OTP Bank NYRT | &nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp;79394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;380417 |
| **India - 16.8%** |  |  |
| ACC, Ltd. | &nbsp;&nbsp;&nbsp;5847 | &nbsp;&nbsp;&nbsp;&nbsp;172471 |
| Adani Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;2169 | &nbsp;&nbsp;&nbsp;&nbsp;100785 |
| Adani Total Gas, Ltd. | &nbsp;&nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;85794 |
| Adani Transmission, Ltd. (A) | &nbsp;&nbsp;&nbsp;9644 | &nbsp;&nbsp;&nbsp;&nbsp;298911 |
| Aditya Birla Capital, Ltd. (A) | &nbsp;&nbsp;55560 | &nbsp;&nbsp;&nbsp;&nbsp;100304 |
| Alembic Pharmaceuticals, Ltd. | &nbsp;&nbsp;&nbsp;4559 | &nbsp;&nbsp;&nbsp;&nbsp;31530 |
| Allcargo Logistics, Ltd. | &nbsp;&nbsp;&nbsp;8212 | &nbsp;&nbsp;&nbsp;&nbsp;40052 |
| Amara Raja Batteries, Ltd. | &nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp;32167 |
| Ambuja Cements, Ltd. | &nbsp;&nbsp;55925 | &nbsp;&nbsp;&nbsp;&nbsp;353641 |
| Andhra Sugars, Ltd. | &nbsp;&nbsp;&nbsp;6880 | &nbsp;&nbsp;&nbsp;&nbsp;11117 |
| Apar Industries, Ltd. | &nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;24343 |
| Apollo Tyres, Ltd. | &nbsp;&nbsp;28578 | &nbsp;&nbsp;&nbsp;&nbsp;111993 |
| Arvind, Ltd. (A) | &nbsp;&nbsp;12009 | &nbsp;&nbsp;&nbsp;&nbsp;12969 |
| Ashoka Buildcon, Ltd. (A) | &nbsp;&nbsp;22051 | &nbsp;&nbsp;&nbsp;&nbsp;23856 |
| Aster DM Healthcare, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;8448 | &nbsp;&nbsp;&nbsp;&nbsp;23528 |
| Astra Microwave Products, Ltd. | &nbsp;&nbsp;&nbsp;3553 | &nbsp;&nbsp;&nbsp;&nbsp;12295 |
| Aurobindo Pharma, Ltd. | &nbsp;&nbsp;32368 | &nbsp;&nbsp;&nbsp;&nbsp;171282 |
| Avanti Feeds, Ltd. | &nbsp;&nbsp;&nbsp;1998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9320 |
| Axis Bank, Ltd. | 188618 | 2125254 |
| Axis Bank, Ltd., GDR | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;17537 |
| Bajaj Consumer Care, Ltd. | &nbsp;&nbsp;&nbsp;6744 | &nbsp;&nbsp;&nbsp;&nbsp;13589 |
| Bajaj Holdings & Investment, Ltd. | &nbsp;&nbsp;&nbsp;2095 | &nbsp;&nbsp;&nbsp;&nbsp;144571 |
| Balmer Lawrie & Company, Ltd. | &nbsp;&nbsp;11041 | &nbsp;&nbsp;&nbsp;&nbsp;16734 |
| Balrampur Chini Mills, Ltd. | &nbsp;&nbsp;17968 | &nbsp;&nbsp;&nbsp;&nbsp;86549 |
| Bandhan Bank, Ltd. (A)(B) | &nbsp;&nbsp;32073 | &nbsp;&nbsp;&nbsp;&nbsp;90538 |
| Bank of Baroda | &nbsp;&nbsp;88922 | &nbsp;&nbsp;&nbsp;&nbsp;199086 |
| Bank of India | &nbsp;&nbsp;19819 | &nbsp;&nbsp;&nbsp;&nbsp;21117 |
| Bharat Electronics, Ltd. | 179424 | &nbsp;&nbsp;&nbsp;&nbsp;216928 |
| Bharat Heavy Electricals, Ltd. | &nbsp;&nbsp;72839 | &nbsp;&nbsp;&nbsp;&nbsp;69525 |
| Birla Corp., Ltd. | &nbsp;&nbsp;&nbsp;2709 | &nbsp;&nbsp;&nbsp;&nbsp;32029 |
| Birlasoft, Ltd. | &nbsp;&nbsp;&nbsp;4416 | &nbsp;&nbsp;&nbsp;&nbsp;15894 |
| Bombay Burmah Trading Company | &nbsp;&nbsp;&nbsp;1557 | &nbsp;&nbsp;&nbsp;&nbsp;17086 |
| BSE, Ltd. | &nbsp;&nbsp;&nbsp;2172 | &nbsp;&nbsp;&nbsp;&nbsp;14296 |
| Can Fin Homes, Ltd. | &nbsp;&nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;16925 |
| Canara Bank | &nbsp;&nbsp;30693 | &nbsp;&nbsp;&nbsp;&nbsp;123241 |
| Ceat, Ltd. | &nbsp;&nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;52173 |
| Century Enka, Ltd. | &nbsp;&nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7005 |
| Century Textiles & Industries, Ltd. | &nbsp;&nbsp;&nbsp;2062 | &nbsp;&nbsp;&nbsp;&nbsp;17776 |
| Chambal Fertilizers & Chemicals, Ltd. | &nbsp;&nbsp;19376 | &nbsp;&nbsp;&nbsp;&nbsp;72649 |
| Chennai Super Kings Cricket, Ltd. (A)(C) | 207315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638 |
| Cholamandalam Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7288 | &nbsp;&nbsp;&nbsp;&nbsp;48834 |
| Cipla, Ltd. | &nbsp;&nbsp;35701 | &nbsp;&nbsp;&nbsp;&nbsp;464289 |
| City Union Bank, Ltd. | &nbsp;&nbsp;27005 | &nbsp;&nbsp;&nbsp;&nbsp;58423 |
| Cochin Shipyard, Ltd. (B) | &nbsp;&nbsp;&nbsp;2163 | &nbsp;&nbsp;&nbsp;&nbsp;13873 |
| Container Corp. of India, Ltd. | &nbsp;&nbsp;14589 | &nbsp;&nbsp;&nbsp;&nbsp;130464 |
| Cosmo First, Ltd. | &nbsp;&nbsp;&nbsp;1579 | &nbsp;&nbsp;&nbsp;&nbsp;14570 |
| CSB Bank, Ltd. (A) | &nbsp;&nbsp;&nbsp;2395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6892 |
| Cyient, Ltd. | &nbsp;&nbsp;&nbsp;5147 | &nbsp;&nbsp;&nbsp;&nbsp;50404 |
| Dalmia Bharat, Ltd. | &nbsp;&nbsp;&nbsp;4987 | &nbsp;&nbsp;&nbsp;&nbsp;111812 |
| DB Corp., Ltd. | &nbsp;&nbsp;&nbsp;6129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9171 |
| DCB Bank, Ltd. | &nbsp;&nbsp;23624 | &nbsp;&nbsp;&nbsp;&nbsp;36185 |
| DCM Shriram, Ltd. | &nbsp;&nbsp;&nbsp;3740 | &nbsp;&nbsp;&nbsp;&nbsp;40691 |
| Deepak Fertilisers & Petrochemicals Corp., Ltd. | &nbsp;&nbsp;&nbsp;3614 | &nbsp;&nbsp;&nbsp;&nbsp;31216 |
| Delta Corp., Ltd. | &nbsp;&nbsp;&nbsp;4521 | &nbsp;&nbsp;&nbsp;&nbsp;11627 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| Dhampur Bio Organics, Ltd. (A) | &nbsp;&nbsp;&nbsp;2503 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138 |
| Dhampur Sugar Mills, Ltd. | &nbsp;&nbsp;&nbsp;2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7470 |
| Dilip Buildcon, Ltd. (B) | &nbsp;&nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3460 |
| Dish TV India, Ltd. (A) | &nbsp;&nbsp;48852 | &nbsp;&nbsp;&nbsp;&nbsp;10913 |
| Dishman Carbogen Amcis, Ltd. (A) | &nbsp;&nbsp;&nbsp;5361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6128 |
| DLF, Ltd. | &nbsp;&nbsp;40228 | &nbsp;&nbsp;&nbsp;&nbsp;181654 |
| Edelweiss Financial Services, Ltd. | &nbsp;&nbsp;46814 | &nbsp;&nbsp;&nbsp;&nbsp;36159 |
| EID Parry India, Ltd. | &nbsp;&nbsp;12265 | &nbsp;&nbsp;&nbsp;&nbsp;84347 |
| Electrosteel Castings, Ltd. | &nbsp;&nbsp;35427 | &nbsp;&nbsp;&nbsp;&nbsp;16384 |
| Engineers India, Ltd. | &nbsp;&nbsp;11471 | &nbsp;&nbsp;&nbsp;&nbsp;10949 |
| EPL, Ltd. | &nbsp;&nbsp;&nbsp;5477 | &nbsp;&nbsp;&nbsp;&nbsp;11247 |
| Equitas Small Finance Bank, Ltd. (A)(B) | &nbsp;&nbsp;13945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9783 |
| Exide Industries, Ltd. | &nbsp;&nbsp;26285 | &nbsp;&nbsp;&nbsp;&nbsp;57338 |
| FDC, Ltd. (A) | &nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451 |
| Federal Bank, Ltd. | 191615 | &nbsp;&nbsp;&nbsp;&nbsp;322289 |
| Filatex India, Ltd. | &nbsp;&nbsp;25766 | &nbsp;&nbsp;&nbsp;&nbsp;14392 |
| Finolex Cables, Ltd. | &nbsp;&nbsp;&nbsp;3327 | &nbsp;&nbsp;&nbsp;&nbsp;22116 |
| Finolex Industries, Ltd. | &nbsp;&nbsp;25360 | &nbsp;&nbsp;&nbsp;&nbsp;56899 |
| Firstsource Solutions, Ltd. | &nbsp;&nbsp;16189 | &nbsp;&nbsp;&nbsp;&nbsp;20044 |
| Fortis Healthcare, Ltd. (A) | &nbsp;&nbsp;10064 | &nbsp;&nbsp;&nbsp;&nbsp;34848 |
| Gabriel India, Ltd. | &nbsp;&nbsp;&nbsp;6164 | &nbsp;&nbsp;&nbsp;&nbsp;13765 |
| GAIL India, Ltd. | 287002 | &nbsp;&nbsp;&nbsp;&nbsp;333627 |
| General Insurance Corp. of India (B) | &nbsp;&nbsp;&nbsp;8025 | &nbsp;&nbsp;&nbsp;&nbsp;17310 |
| GHCL, Ltd. | &nbsp;&nbsp;&nbsp;6390 | &nbsp;&nbsp;&nbsp;&nbsp;39323 |
| Glenmark Pharmaceuticals, Ltd. | &nbsp;&nbsp;13855 | &nbsp;&nbsp;&nbsp;&nbsp;71064 |
| Godawari Power & Ispat, Ltd. | &nbsp;&nbsp;&nbsp;4899 | &nbsp;&nbsp;&nbsp;&nbsp;22057 |
| Godfrey Phillips India, Ltd. | &nbsp;&nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp;47954 |
| Godrej Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;2755 | &nbsp;&nbsp;&nbsp;&nbsp;14256 |
| Granules India, Ltd. | &nbsp;&nbsp;18305 | &nbsp;&nbsp;&nbsp;&nbsp;70420 |
| Graphite India, Ltd. | &nbsp;&nbsp;&nbsp;3611 | &nbsp;&nbsp;&nbsp;&nbsp;16232 |
| Grasim Industries, Ltd. | &nbsp;&nbsp;22711 | &nbsp;&nbsp;&nbsp;&nbsp;471025 |
| Gujarat Alkalies & Chemicals, Ltd. | &nbsp;&nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;28923 |
| Gujarat Ambuja Exports, Ltd. | &nbsp;&nbsp;10728 | &nbsp;&nbsp;&nbsp;&nbsp;33103 |
| Gujarat Fluorochemicals, Ltd. | &nbsp;&nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp;109067 |
| Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. | &nbsp;&nbsp;10255 | &nbsp;&nbsp;&nbsp;&nbsp;68859 |
| Gujarat Pipavav Port, Ltd. | &nbsp;&nbsp;15449 | &nbsp;&nbsp;&nbsp;&nbsp;18927 |
| Gujarat State Fertilizers & Chemicals, Ltd. | &nbsp;&nbsp;&nbsp;6962 | &nbsp;&nbsp;&nbsp;&nbsp;11712 |
| Gujarat State Petronet, Ltd. | &nbsp;&nbsp;26721 | &nbsp;&nbsp;&nbsp;&nbsp;85060 |
| Hathway Cable & Datacom, Ltd. (A) | &nbsp;&nbsp;35580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7469 |
| HDFC Bank, Ltd. | &nbsp;&nbsp;13988 | &nbsp;&nbsp;&nbsp;&nbsp;274666 |
| HEG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9523 |
| Heritage Foods, Ltd. | &nbsp;&nbsp;&nbsp;2665 | &nbsp;&nbsp;&nbsp;&nbsp;11525 |
| Hero MotoCorp, Ltd. | &nbsp;&nbsp;&nbsp;6888 | &nbsp;&nbsp;&nbsp;&nbsp;227275 |
| HIL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9688 |
| Himadri Speciality Chemical, Ltd. | &nbsp;&nbsp;24869 | &nbsp;&nbsp;&nbsp;&nbsp;30312 |
| Hindalco Industries, Ltd. | 148861 | &nbsp;&nbsp;&nbsp;&nbsp;851746 |
| Hinduja Global Solutions, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6740 |
| Hindustan Aeronautics, Ltd. | &nbsp;&nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;57499 |
| Housing Development Finance Corp., Ltd. | &nbsp;&nbsp;59478 | 1894017 |
| ICICI Bank, Ltd. | 196478 | 2118255 |
| ICICI Bank, Ltd., ADR | &nbsp;&nbsp;&nbsp;3737 | &nbsp;&nbsp;&nbsp;&nbsp;81803 |
| IDFC First Bank, Ltd. (A) | 171714 | &nbsp;&nbsp;&nbsp;&nbsp;121863 |
| IDFC, Ltd. | &nbsp;&nbsp;92305 | &nbsp;&nbsp;&nbsp;&nbsp;90737 |
| IIFL Finance, Ltd. | &nbsp;&nbsp;&nbsp;6254 | &nbsp;&nbsp;&nbsp;&nbsp;36424 |
| IIFL Securities, Ltd. | &nbsp;&nbsp;28932 | &nbsp;&nbsp;&nbsp;&nbsp;22490 |
| Indiabulls Housing Finance, Ltd. (A) | &nbsp;&nbsp;33338 | &nbsp;&nbsp;&nbsp;&nbsp;62171 |
| Indiabulls Real Estate, Ltd. (A) | &nbsp;&nbsp;28092 | &nbsp;&nbsp;&nbsp;&nbsp;27537 |
| Indian Bank | &nbsp;&nbsp;13953 | &nbsp;&nbsp;&nbsp;&nbsp;48068 |
| Indian Overseas Bank (A) | &nbsp;&nbsp;71034 | &nbsp;&nbsp;&nbsp;&nbsp;27538 |
| Indian Railway Finance Corp., Ltd. (B) | &nbsp;&nbsp;56808 | &nbsp;&nbsp;&nbsp;&nbsp;22369 |
| Indo Count Industries, Ltd. | &nbsp;&nbsp;&nbsp;3259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268 |
| Indus Towers, Ltd. | &nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;127039 |
| IndusInd Bank, Ltd. | &nbsp;&nbsp;26682 | &nbsp;&nbsp;&nbsp;&nbsp;391919 |
| Infibeam Avenues, Ltd. | &nbsp;&nbsp;35348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7116 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| Info Edge India, Ltd. | &nbsp;&nbsp;2402 | $&nbsp;&nbsp;&nbsp;&nbsp;113496 |
| IOL Chemicals and Pharmaceuticals, Ltd. | &nbsp;&nbsp;1292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5808 |
| IRCON International, Ltd. (B) | 17211 | &nbsp;&nbsp;&nbsp;&nbsp;12410 |
| Jagran Prakashan, Ltd. | 12700 | &nbsp;&nbsp;&nbsp;&nbsp;11218 |
| Jindal Poly Films, Ltd. | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;10204 |
| Jindal Saw, Ltd. | 29627 | &nbsp;&nbsp;&nbsp;&nbsp;37062 |
| Jindal Stainless Hisar, Ltd. (A) | &nbsp;&nbsp;4742 | &nbsp;&nbsp;&nbsp;&nbsp;25161 |
| Jindal Stainless, Ltd. (A) | 11232 | &nbsp;&nbsp;&nbsp;&nbsp;32585 |
| Jindal Steel & Power, Ltd. | 52794 | &nbsp;&nbsp;&nbsp;&nbsp;372108 |
| JK Lakshmi Cement, Ltd. | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;20683 |
| JK Paper, Ltd. | &nbsp;&nbsp;7330 | &nbsp;&nbsp;&nbsp;&nbsp;36325 |
| JK Tyre & Industries, Ltd. | &nbsp;&nbsp;8887 | &nbsp;&nbsp;&nbsp;&nbsp;19761 |
| JM Financial, Ltd. | 33116 | &nbsp;&nbsp;&nbsp;&nbsp;28648 |
| JSW Energy, Ltd. | 35712 | &nbsp;&nbsp;&nbsp;&nbsp;124669 |
| JSW Steel, Ltd. | 79922 | &nbsp;&nbsp;&nbsp;&nbsp;743365 |
| Jubilant Pharmova, Ltd. | 11603 | &nbsp;&nbsp;&nbsp;&nbsp;52562 |
| Jyothy Labs, Ltd. | &nbsp;&nbsp;5194 | &nbsp;&nbsp;&nbsp;&nbsp;12844 |
| Kalpataru Power Transmission, Ltd. | &nbsp;&nbsp;9196 | &nbsp;&nbsp;&nbsp;&nbsp;61697 |
| Kalyani Steels, Ltd. | &nbsp;&nbsp;2643 | &nbsp;&nbsp;&nbsp;&nbsp;11507 |
| Kaveri Seed Company, Ltd. | &nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;10373 |
| KEC International, Ltd. | &nbsp;&nbsp;5964 | &nbsp;&nbsp;&nbsp;&nbsp;35508 |
| Kiri Industries, Ltd. (A) | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6344 |
| Kirloskar Ferrous Industries, Ltd. | &nbsp;&nbsp;4164 | &nbsp;&nbsp;&nbsp;&nbsp;17803 |
| Kirloskar Oil Engines, Ltd. | &nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;&nbsp;14037 |
| KNR Constructions, Ltd. | &nbsp;&nbsp;5559 | &nbsp;&nbsp;&nbsp;&nbsp;17148 |
| Kolte-Patil Developers, Ltd. | &nbsp;&nbsp;3028 | &nbsp;&nbsp;&nbsp;&nbsp;10174 |
| KPIT Technologies, Ltd. | &nbsp;&nbsp;3011 | &nbsp;&nbsp;&nbsp;&nbsp;25492 |
| KPR Mill, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127 |
| KRBL, Ltd. | &nbsp;&nbsp;4679 | &nbsp;&nbsp;&nbsp;&nbsp;22095 |
| L&T Finance Holdings, Ltd. | 74021 | &nbsp;&nbsp;&nbsp;&nbsp;77944 |
| Larsen & Toubro, Ltd. | 52252 | 1313539 |
| LG Balakrishnan & Bros, Ltd. | &nbsp;&nbsp;1757 | &nbsp;&nbsp;&nbsp;&nbsp;14588 |
| LIC Housing Finance, Ltd. | 39247 | &nbsp;&nbsp;&nbsp;&nbsp;196225 |
| LT Foods, Ltd. | 11217 | &nbsp;&nbsp;&nbsp;&nbsp;15672 |
| Lupin, Ltd. | 19319 | &nbsp;&nbsp;&nbsp;&nbsp;170733 |
| Maharashtra Seamless, Ltd. | &nbsp;&nbsp;8424 | &nbsp;&nbsp;&nbsp;&nbsp;32818 |
| Mahindra & Mahindra Financial Services, Ltd. | 48327 | &nbsp;&nbsp;&nbsp;&nbsp;136549 |
| Mahindra & Mahindra, Ltd. | 70868 | 1068437 |
| Mahindra CIE Automotive, Ltd. | 17673 | &nbsp;&nbsp;&nbsp;&nbsp;73804 |
| Mahindra Lifespace Developers, Ltd. | &nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;25512 |
| Maithan Alloys, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;10992 |
| Manappuram Finance, Ltd. | 43917 | &nbsp;&nbsp;&nbsp;&nbsp;61673 |
| Marksans Pharma, Ltd. | 15357 | &nbsp;&nbsp;&nbsp;&nbsp;10815 |
| MAS Financial Services, Ltd. (B) | &nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp;19274 |
| Mazagon Dock Shipbuilders, Ltd. | &nbsp;&nbsp;1867 | &nbsp;&nbsp;&nbsp;&nbsp;17846 |
| Meghmani Organics, Ltd. | &nbsp;&nbsp;9521 | &nbsp;&nbsp;&nbsp;&nbsp;12747 |
| Mishra Dhatu Nigam, Ltd. (B) | &nbsp;&nbsp;4126 | &nbsp;&nbsp;&nbsp;&nbsp;10810 |
| MOIL, Ltd. | 12580 | &nbsp;&nbsp;&nbsp;&nbsp;24541 |
| Motilal Oswal Financial Services, Ltd. | &nbsp;&nbsp;2458 | &nbsp;&nbsp;&nbsp;&nbsp;20369 |
| MRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;&nbsp;162355 |
| Muthoot Finance, Ltd. | &nbsp;&nbsp;6723 | &nbsp;&nbsp;&nbsp;&nbsp;86203 |
| Natco Pharma, Ltd. | &nbsp;&nbsp;1385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9368 |
| National Aluminium Company, Ltd. | 84797 | &nbsp;&nbsp;&nbsp;&nbsp;82615 |
| Nava, Ltd. | &nbsp;&nbsp;8719 | &nbsp;&nbsp;&nbsp;&nbsp;25980 |
| Navneet Education, Ltd. | &nbsp;&nbsp;6921 | &nbsp;&nbsp;&nbsp;&nbsp;10483 |
| NCC, Ltd. | 25675 | &nbsp;&nbsp;&nbsp;&nbsp;25926 |
| NESCO, Ltd. | &nbsp;&nbsp;1859 | &nbsp;&nbsp;&nbsp;&nbsp;13731 |
| Neuland Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7266 |
| NIIT, Ltd. | &nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;&nbsp;24307 |
| Nilkamal, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;15900 |
| NMDC Steel, Ltd. (A)(C) | 47542 | &nbsp;&nbsp;&nbsp;&nbsp;22125 |
| NMDC, Ltd. | 47542 | &nbsp;&nbsp;&nbsp;&nbsp;70779 |
| NOCIL, Ltd. | &nbsp;&nbsp;7663 | &nbsp;&nbsp;&nbsp;&nbsp;21648 |
| Oberoi Realty, Ltd. | &nbsp;&nbsp;9314 | &nbsp;&nbsp;&nbsp;&nbsp;97104 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| Omaxe, Ltd. (A) | &nbsp;&nbsp;&nbsp;5567 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4906 |
| Orient Cement, Ltd. | &nbsp;&nbsp;11282 | &nbsp;&nbsp;&nbsp;&nbsp;16771 |
| PC Jeweller, Ltd. (A) | &nbsp;&nbsp;10118 | &nbsp;&nbsp;&nbsp;&nbsp;10217 |
| PCBL, Ltd. | &nbsp;&nbsp;15470 | &nbsp;&nbsp;&nbsp;&nbsp;24148 |
| Petronet LNG, Ltd. | &nbsp;&nbsp;68687 | &nbsp;&nbsp;&nbsp;&nbsp;178695 |
| Piramal Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;7847 | &nbsp;&nbsp;&nbsp;&nbsp;78509 |
| Piramal Pharma, Ltd. (A) | &nbsp;&nbsp;31388 | &nbsp;&nbsp;&nbsp;&nbsp;43423 |
| PNB Housing Finance, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;3409 | &nbsp;&nbsp;&nbsp;&nbsp;21769 |
| PNC Infratech, Ltd. | &nbsp;&nbsp;&nbsp;5394 | &nbsp;&nbsp;&nbsp;&nbsp;18600 |
| Polyplex Corp., Ltd. | &nbsp;&nbsp;&nbsp;2563 | &nbsp;&nbsp;&nbsp;&nbsp;49357 |
| Power Finance Corp., Ltd. | &nbsp;&nbsp;90707 | &nbsp;&nbsp;&nbsp;&nbsp;155131 |
| Prestige Estates Projects, Ltd. | &nbsp;&nbsp;20468 | &nbsp;&nbsp;&nbsp;&nbsp;114623 |
| Pricol, Ltd. (A) | &nbsp;&nbsp;&nbsp;6161 | &nbsp;&nbsp;&nbsp;&nbsp;14181 |
| PTC India, Ltd. | &nbsp;&nbsp;31315 | &nbsp;&nbsp;&nbsp;&nbsp;30690 |
| Punjab National Bank | &nbsp;&nbsp;97317 | &nbsp;&nbsp;&nbsp;&nbsp;66364 |
| Quess Corp., Ltd. (B) | &nbsp;&nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9376 |
| Rain Industries, Ltd. | &nbsp;&nbsp;22684 | &nbsp;&nbsp;&nbsp;&nbsp;46709 |
| Rajesh Exports, Ltd. | &nbsp;&nbsp;&nbsp;8931 | &nbsp;&nbsp;&nbsp;&nbsp;79272 |
| Rallis India, Ltd. | &nbsp;&nbsp;&nbsp;6940 | &nbsp;&nbsp;&nbsp;&nbsp;20379 |
| Ramco Industries, Ltd. | &nbsp;&nbsp;&nbsp;4270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273 |
| Ramkrishna Forgings, Ltd. | &nbsp;&nbsp;&nbsp;5365 | &nbsp;&nbsp;&nbsp;&nbsp;17097 |
| Rashtriya Chemicals & Fertilizers, Ltd. | &nbsp;&nbsp;10276 | &nbsp;&nbsp;&nbsp;&nbsp;16579 |
| Raymond, Ltd. | &nbsp;&nbsp;&nbsp;2380 | &nbsp;&nbsp;&nbsp;&nbsp;42190 |
| RBL Bank, Ltd. (A)(B) | &nbsp;&nbsp;21550 | &nbsp;&nbsp;&nbsp;&nbsp;46938 |
| REC, Ltd. | 118880 | &nbsp;&nbsp;&nbsp;&nbsp;167542 |
| Redington, Ltd. | &nbsp;&nbsp;76545 | &nbsp;&nbsp;&nbsp;&nbsp;166769 |
| Reliance Industries, Ltd. | &nbsp;&nbsp;21228 | &nbsp;&nbsp;&nbsp;&nbsp;651661 |
| Reliance Industries, Ltd., GDR (B) | &nbsp;&nbsp;87194 | 5348814 |
| Reliance Power, Ltd. (A) | 176129 | &nbsp;&nbsp;&nbsp;&nbsp;30447 |
| Repco Home Finance, Ltd. | &nbsp;&nbsp;&nbsp;7034 | &nbsp;&nbsp;&nbsp;&nbsp;19515 |
| RITES, Ltd. | &nbsp;&nbsp;&nbsp;3302 | &nbsp;&nbsp;&nbsp;&nbsp;13464 |
| Sagar Cements, Ltd. | &nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6284 |
| Samvardhana Motherson International, Ltd. | &nbsp;&nbsp;53653 | &nbsp;&nbsp;&nbsp;&nbsp;48107 |
| Sangam India, Ltd. | &nbsp;&nbsp;&nbsp;1995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5846 |
| Sarda Energy & Minerals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 |
| Sharda Cropchem, Ltd. | &nbsp;&nbsp;&nbsp;2311 | &nbsp;&nbsp;&nbsp;&nbsp;14326 |
| Shilpa Medicare, Ltd. | &nbsp;&nbsp;&nbsp;3711 | &nbsp;&nbsp;&nbsp;&nbsp;12478 |
| Shipping Corp. of India, Ltd. | &nbsp;&nbsp;14077 | &nbsp;&nbsp;&nbsp;&nbsp;23124 |
| Shriram City Union Finance, Ltd. | &nbsp;&nbsp;&nbsp;2480 | &nbsp;&nbsp;&nbsp;&nbsp;63811 |
| Shriram Finance, Ltd. | &nbsp;&nbsp;15498 | &nbsp;&nbsp;&nbsp;&nbsp;258037 |
| Siyaram Silk Mills, Ltd. | &nbsp;&nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;10480 |
| Sobha, Ltd. | &nbsp;&nbsp;&nbsp;4273 | &nbsp;&nbsp;&nbsp;&nbsp;29586 |
| State Bank of India | 114368 | &nbsp;&nbsp;&nbsp;&nbsp;846507 |
| State Bank of India, GDR | &nbsp;&nbsp;&nbsp;3185 | &nbsp;&nbsp;&nbsp;&nbsp;235337 |
| Steel Authority of India, Ltd. | 106244 | &nbsp;&nbsp;&nbsp;&nbsp;106162 |
| Strides Pharma Science, Ltd. (A) | &nbsp;&nbsp;&nbsp;2675 | &nbsp;&nbsp;&nbsp;&nbsp;11301 |
| Sun Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;30132 | &nbsp;&nbsp;&nbsp;&nbsp;363877 |
| Sun TV Network, Ltd. | &nbsp;&nbsp;&nbsp;7964 | &nbsp;&nbsp;&nbsp;&nbsp;46907 |
| Sundaram Finance, Ltd. | &nbsp;&nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;29410 |
| Sundaram-Clayton, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;26883 |
| Sunteck Realty, Ltd. | &nbsp;&nbsp;&nbsp;1942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7691 |
| Sutlej Textiles & Industries, Ltd. | &nbsp;&nbsp;&nbsp;9372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6954 |
| Tata Chemicals, Ltd. | &nbsp;&nbsp;12388 | &nbsp;&nbsp;&nbsp;&nbsp;140426 |
| Tata Coffee, Ltd. | &nbsp;&nbsp;&nbsp;3872 | &nbsp;&nbsp;&nbsp;&nbsp;10188 |
| Tata Consumer Products, Ltd. | &nbsp;&nbsp;25257 | &nbsp;&nbsp;&nbsp;&nbsp;235292 |
| Tata Motors, Ltd. (A) | 105456 | &nbsp;&nbsp;&nbsp;&nbsp;493886 |
| Tata Steel, Ltd. | 583100 | &nbsp;&nbsp;&nbsp;&nbsp;795597 |
| Techno Electric & Engineering Company, Ltd. | &nbsp;&nbsp;&nbsp;7028 | &nbsp;&nbsp;&nbsp;&nbsp;28256 |
| The Great Eastern Shipping Company, Ltd. | &nbsp;&nbsp;12279 | &nbsp;&nbsp;&nbsp;&nbsp;99195 |
| The India Cements, Ltd. | &nbsp;&nbsp;20619 | &nbsp;&nbsp;&nbsp;&nbsp;54279 |
| The Jammu & Kashmir Bank, Ltd. (A) | &nbsp;&nbsp;20576 | &nbsp;&nbsp;&nbsp;&nbsp;14047 |
| The Karnataka Bank, Ltd. | &nbsp;&nbsp;33585 | &nbsp;&nbsp;&nbsp;&nbsp;61779 |
| The Karur Vysya Bank, Ltd. | &nbsp;&nbsp;52341 | &nbsp;&nbsp;&nbsp;&nbsp;71428 |
| The Ramco Cements, Ltd. | &nbsp;&nbsp;&nbsp;6862 | &nbsp;&nbsp;&nbsp;&nbsp;57970 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| The South Indian Bank, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;134442 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30366 |
| Thirumalai Chemicals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7760 |
| Time Technoplast, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14610 |
| Transport Corp. of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23699 |
| Triveni Engineering & Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19010 |
| TV Today Network, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4343 |
| TV18 Broadcast, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;57635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25846 |
| Uflex, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35593 |
| Unichem Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16863 |
| Union Bank of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36393 |
| UPL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42377 | &nbsp;&nbsp;&nbsp;&nbsp;366536 |
| Usha Martin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19297 |
| UTI Asset Management Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11971 |
| VA Tech Wabag, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14257 |
| Vardhman Textiles, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63956 |
| Varroc Engineering, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10556 |
| Vedanta, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43705 | &nbsp;&nbsp;&nbsp;&nbsp;162719 |
| Venky's India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9951 |
| Vodafone Idea, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;275824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26411 |
| Voltamp Transformers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11120 |
| Welspun Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39930 |
| Welspun Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18913 |
| Welspun India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25427 |
| West Coast Paper Mills, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19086 |
| Wipro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;91275 | &nbsp;&nbsp;&nbsp;&nbsp;432990 |
| Wockhardt, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14761 |
| Yes Bank, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;49153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12288 |
| Yes Bank, Ltd., Lock-In Shares (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;147461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35967 |
| Zee Entertainment Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;63894 | &nbsp;&nbsp;&nbsp;&nbsp;184910 |
| Zee Media Corp., Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;54429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9753 |
| Zensar Technologies, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22471 |
| Zydus Lifesciences, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81655 |
| Zydus Wellnes, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997 |
|  |  | 34420552 |
| **Indonesia - 1.9%** |  |  |
| Ace Hardware Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;539700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17205 |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp;1626200 | &nbsp;&nbsp;&nbsp;&nbsp;402831 |
| Adhi Karya Persero Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;235600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7326 |
| Alam Sutera Realty Tbk PT (A) | &nbsp;&nbsp;1741800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17909 |
| Aneka Tambang Tbk | &nbsp;&nbsp;&nbsp;&nbsp;468100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59569 |
| Astra Agro Lestari Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;49555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25541 |
| Astra International Tbk PT | &nbsp;&nbsp;1321300 | &nbsp;&nbsp;&nbsp;&nbsp;483529 |
| Bakrie Telecom Tbk PT (A)(C) | 17557300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28195 |
| Bank Capital Indonesia Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;638900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5379 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;771540 | &nbsp;&nbsp;&nbsp;&nbsp;492007 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;434381 | &nbsp;&nbsp;&nbsp;&nbsp;257357 |
| Bank Pan Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;465597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46054 |
| Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;303812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26252 |
| Bank Pembangunan Daerah Jawa Timur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;625600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28541 |
| Bank Tabungan Negara Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;376361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32616 |
| Bekasi Fajar Industrial Estate Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;817800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6987 |
| BISI International Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;290800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29893 |
| Blue Bird Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 |
| Buana Lintas Lautan Tbk PT (A) | &nbsp;&nbsp;1186800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13571 |
| Bukit Asam Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;380100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90146 |
| Bumi Serpong Damai Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;499400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29486 |
| Ciputra Development Tbk PT | &nbsp;&nbsp;1127244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68078 |
| Delta Dunia Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;610700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11942 |
| Elang Mahkota Teknologi Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;261900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17308 |
| Elnusa Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;742600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14905 |
| Erajaya Swasembada Tbk PT | &nbsp;&nbsp;1113500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27997 |
| Gudang Garam Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37475 |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;279700 | &nbsp;&nbsp;&nbsp;&nbsp;156720 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Indonesia (continued)** |  |  |
| Indika Energy Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;225300 | $&nbsp;&nbsp;&nbsp;&nbsp;39616 |
| Indo Tambangraya Megah Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;34600 | &nbsp;&nbsp;&nbsp;&nbsp;86899 |
| Indocement Tunggal Prakarsa Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;110800 | &nbsp;&nbsp;&nbsp;&nbsp;70450 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;445800 | &nbsp;&nbsp;&nbsp;&nbsp;192710 |
| Japfa Comfeed Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;499770 | &nbsp;&nbsp;&nbsp;&nbsp;41557 |
| Jaya Real Property Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;215500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6921 |
| Kawasan Industri Jababeka Tbk PT (A) | &nbsp;&nbsp;2384099 | &nbsp;&nbsp;&nbsp;&nbsp;22354 |
| Krakatau Steel Persero Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;733900 | &nbsp;&nbsp;&nbsp;&nbsp;15374 |
| Lippo Karawaci Tbk PT (A) | &nbsp;&nbsp;4020148 | &nbsp;&nbsp;&nbsp;&nbsp;20407 |
| Malindo Feedmill Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;128500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045 |
| Medco Energi Internasional Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;877026 | &nbsp;&nbsp;&nbsp;&nbsp;57225 |
| Media Nusantara Citra Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;718600 | &nbsp;&nbsp;&nbsp;&nbsp;34160 |
| MNC Vision Networks Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;614600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570 |
| Multipolar Tbk PT (A) | &nbsp;&nbsp;1981400 | &nbsp;&nbsp;&nbsp;&nbsp;14264 |
| Pabrik Kertas Tjiwi Kimia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;45810 |
| Pakuwon Jati Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;372300 | &nbsp;&nbsp;&nbsp;&nbsp;10902 |
| Panin Financial Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;949400 | &nbsp;&nbsp;&nbsp;&nbsp;21840 |
| Paninvest Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;116800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9364 |
| Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;318000 | &nbsp;&nbsp;&nbsp;&nbsp;20733 |
| PP Persero Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;292600 | &nbsp;&nbsp;&nbsp;&nbsp;13442 |
| Puradelta Lestari Tbk PT | &nbsp;&nbsp;1584700 | &nbsp;&nbsp;&nbsp;&nbsp;16196 |
| Ramayana Lestari Sentosa Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;463200 | &nbsp;&nbsp;&nbsp;&nbsp;16943 |
| Salim Ivomas Pratama Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;670100 | &nbsp;&nbsp;&nbsp;&nbsp;17814 |
| Semen Indonesia Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;296292 | &nbsp;&nbsp;&nbsp;&nbsp;125125 |
| Siloam International Hospitals Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;295200 | &nbsp;&nbsp;&nbsp;&nbsp;23889 |
| Sri Rejeki Isman Tbk PT (A)(C) | &nbsp;&nbsp;1260900 | &nbsp;&nbsp;&nbsp;&nbsp;11825 |
| Summarecon Agung Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;627000 | &nbsp;&nbsp;&nbsp;&nbsp;24319 |
| Suryainti Permata Tbk PT (A)(C) | &nbsp;&nbsp;1446000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Timah Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;210500 | &nbsp;&nbsp;&nbsp;&nbsp;15792 |
| Truba Alam Manunggal Engineering PT (A)(C) | 11991500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Tunas Baru Lampung Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;484800 | &nbsp;&nbsp;&nbsp;&nbsp;21652 |
| United Tractors Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;169300 | &nbsp;&nbsp;&nbsp;&nbsp;283793 |
| Vale Indonesia Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;188500 | &nbsp;&nbsp;&nbsp;&nbsp;85747 |
| Waskita Karya Persero Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;596656 | &nbsp;&nbsp;&nbsp;&nbsp;13783 |
| Wijaya Karya Persero Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;349400 | &nbsp;&nbsp;&nbsp;&nbsp;17946 |
| XL Axiata Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;494171 | &nbsp;&nbsp;&nbsp;&nbsp;67922 |
|  |  | 3908707 |
| **Malaysia - 1.9%** |  |  |
| Aeon Company M BHD | &nbsp;&nbsp;&nbsp;&nbsp;28600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8894 |
| AFFIN Bank BHD | &nbsp;&nbsp;&nbsp;&nbsp;98842 | &nbsp;&nbsp;&nbsp;&nbsp;45537 |
| Alliance Bank Malaysia BHD | &nbsp;&nbsp;&nbsp;&nbsp;102300 | &nbsp;&nbsp;&nbsp;&nbsp;85279 |
| AMMB Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;158262 | &nbsp;&nbsp;&nbsp;&nbsp;148797 |
| Bank Islam Malaysia BHD | &nbsp;&nbsp;&nbsp;&nbsp;49400 | &nbsp;&nbsp;&nbsp;&nbsp;30576 |
| Batu Kawan BHD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;15730 |
| Berjaya Assets BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;77400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5093 |
| Berjaya Corp. BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;439496 | &nbsp;&nbsp;&nbsp;&nbsp;29957 |
| Berjaya Land BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;244400 | &nbsp;&nbsp;&nbsp;&nbsp;14711 |
| Boustead Holdings BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;116088 | &nbsp;&nbsp;&nbsp;&nbsp;16460 |
| Bumi Armada BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;163800 | &nbsp;&nbsp;&nbsp;&nbsp;17878 |
| Cahya Mata Sarawak BHD | &nbsp;&nbsp;&nbsp;&nbsp;52100 | &nbsp;&nbsp;&nbsp;&nbsp;12663 |
| CIMB Group Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;473164 | &nbsp;&nbsp;&nbsp;&nbsp;622669 |
| Cypark Resources BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;54200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5785 |
| Dayang Enterprise Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;83900 | &nbsp;&nbsp;&nbsp;&nbsp;25030 |
| DRB-Hicom BHD | &nbsp;&nbsp;&nbsp;&nbsp;93400 | &nbsp;&nbsp;&nbsp;&nbsp;33944 |
| Eco World Development Group BHD | &nbsp;&nbsp;&nbsp;&nbsp;84300 | &nbsp;&nbsp;&nbsp;&nbsp;12351 |
| Ekovest BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;146600 | &nbsp;&nbsp;&nbsp;&nbsp;11299 |
| FGV Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;33400 | &nbsp;&nbsp;&nbsp;&nbsp;10001 |
| Gamuda BHD | &nbsp;&nbsp;&nbsp;&nbsp;117150 | &nbsp;&nbsp;&nbsp;&nbsp;99817 |
| Genting BHD | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;140333 |
| Genting Malaysia BHD | &nbsp;&nbsp;&nbsp;&nbsp;132300 | &nbsp;&nbsp;&nbsp;&nbsp;80763 |
| Genting Plantations BHD | &nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;32541 |
| Hartalega Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;82100 | &nbsp;&nbsp;&nbsp;&nbsp;31706 |
| Hengyuan Refining Company BHD | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;13445 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Malaysia (continued)** |  |  |
| Hiap Teck Venture BHD | &nbsp;&nbsp;118300 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7778 |
| Hibiscus Petroleum BHD | &nbsp;&nbsp;171900 | &nbsp;&nbsp;&nbsp;&nbsp;41892 |
| Hong Leong Financial Group BHD | &nbsp;&nbsp;&nbsp;&nbsp;23399 | &nbsp;&nbsp;&nbsp;&nbsp;98749 |
| IJM Corp. BHD | &nbsp;&nbsp;211160 | &nbsp;&nbsp;&nbsp;&nbsp;76745 |
| IOI Properties Group BHD | &nbsp;&nbsp;&nbsp;&nbsp;72700 | &nbsp;&nbsp;&nbsp;&nbsp;17506 |
| JAKS Resources BHD (A) | &nbsp;&nbsp;177060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9443 |
| Jaya Tiasa Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;58826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8550 |
| Keck Seng Malaysia BHD | &nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9197 |
| KNM Group BHD (A) | &nbsp;&nbsp;571500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6502 |
| Kossan Rubber Industries BHD | &nbsp;&nbsp;&nbsp;&nbsp;48500 | &nbsp;&nbsp;&nbsp;&nbsp;12109 |
| Land & General BHD | &nbsp;&nbsp;437820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9878 |
| Lotte Chemical Titan Holding BHD (B) | &nbsp;&nbsp;&nbsp;&nbsp;30231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9735 |
| Magnum BHD | &nbsp;&nbsp;110314 | &nbsp;&nbsp;&nbsp;&nbsp;32298 |
| Mah Sing Group BHD | &nbsp;&nbsp;192300 | &nbsp;&nbsp;&nbsp;&nbsp;24629 |
| Malayan Banking BHD | &nbsp;&nbsp;288737 | &nbsp;&nbsp;&nbsp;&nbsp;570251 |
| Malaysia Airports Holdings BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp;18631 |
| Malaysia Building Society BHD (A) | &nbsp;&nbsp;190704 | &nbsp;&nbsp;&nbsp;&nbsp;26640 |
| Malaysian Resources Corp. BHD | &nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;13849 |
| Matrix Concepts Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717 |
| MBM Resources BHD | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8477 |
| Mega First Corp. BHD | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9488 |
| MISC BHD | &nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp;128197 |
| MKH BHD | &nbsp;&nbsp;&nbsp;&nbsp;49230 | &nbsp;&nbsp;&nbsp;&nbsp;13303 |
| MNRB Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;36891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7373 |
| Muhibbah Engineering M BHD (A) | &nbsp;&nbsp;103950 | &nbsp;&nbsp;&nbsp;&nbsp;11805 |
| Oriental Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;35720 | &nbsp;&nbsp;&nbsp;&nbsp;55087 |
| OSK Holdings BHD | &nbsp;&nbsp;111397 | &nbsp;&nbsp;&nbsp;&nbsp;24416 |
| Pos Malaysia BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4243 |
| PPB Group BHD | &nbsp;&nbsp;&nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp;120753 |
| RHB Bank BHD | &nbsp;&nbsp;141108 | &nbsp;&nbsp;&nbsp;&nbsp;185398 |
| Sapura Energy BHD (A) | 1155500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9192 |
| Sarawak Oil Palms BHD | &nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6912 |
| Sime Darby BHD | &nbsp;&nbsp;287200 | &nbsp;&nbsp;&nbsp;&nbsp;149910 |
| Sime Darby Property BHD | &nbsp;&nbsp;271300 | &nbsp;&nbsp;&nbsp;&nbsp;27740 |
| SP Setia BHD Group | &nbsp;&nbsp;173900 | &nbsp;&nbsp;&nbsp;&nbsp;23715 |
| Sunway BHD | &nbsp;&nbsp;140407 | &nbsp;&nbsp;&nbsp;&nbsp;51666 |
| Supermax Corp. BHD | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 |
| Tan Chong Motor Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687 |
| Top Glove Corp. BHD (A) | &nbsp;&nbsp;387700 | &nbsp;&nbsp;&nbsp;&nbsp;79694 |
| Tropicana Corp. BHD (A) | &nbsp;&nbsp;161380 | &nbsp;&nbsp;&nbsp;&nbsp;46920 |
| TSH Resources BHD | &nbsp;&nbsp;114900 | &nbsp;&nbsp;&nbsp;&nbsp;27923 |
| UEM Edgenta BHD | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8519 |
| UEM Sunrise BHD (A) | &nbsp;&nbsp;372300 | &nbsp;&nbsp;&nbsp;&nbsp;21537 |
| UMW Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;&nbsp;38381 |
| United Malacca BHD | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;14861 |
| UOA Development BHD | &nbsp;&nbsp;124700 | &nbsp;&nbsp;&nbsp;&nbsp;45536 |
| Velesto Energy BHD (A) | &nbsp;&nbsp;428800 | &nbsp;&nbsp;&nbsp;&nbsp;14582 |
| WCT Holdings BHD | &nbsp;&nbsp;194483 | &nbsp;&nbsp;&nbsp;&nbsp;17663 |
| Yinson Holdings BHD | &nbsp;&nbsp;&nbsp;&nbsp;74200 | &nbsp;&nbsp;&nbsp;&nbsp;40934 |
| YNH Property BHD (A) | &nbsp;&nbsp;&nbsp;&nbsp;6819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6558 |
| YTL Corp. BHD | &nbsp;&nbsp;374937 | &nbsp;&nbsp;&nbsp;&nbsp;49376 |
|  |  | 3814209 |
| **Mexico - 2.4%** |  |  |
| Alfa SAB de CV, Class A | &nbsp;&nbsp;370181 | &nbsp;&nbsp;&nbsp;&nbsp;236130 |
| Alpek SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;&nbsp;46070 |
| Arca Continental SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;22887 | &nbsp;&nbsp;&nbsp;&nbsp;185619 |
| Banco del Bajio SA (B) | &nbsp;&nbsp;&nbsp;&nbsp;68070 | &nbsp;&nbsp;&nbsp;&nbsp;214412 |
| Cemex SAB de CV, Series CPO (A) | &nbsp;&nbsp;730985 | &nbsp;&nbsp;&nbsp;&nbsp;297098 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;23422 | &nbsp;&nbsp;&nbsp;&nbsp;158527 |
| Consorcio ARA SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;25993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268 |
| Corp. Actinver SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;16024 | &nbsp;&nbsp;&nbsp;&nbsp;10526 |
| El Puerto de Liverpool SAB de CV, Series C1 | &nbsp;&nbsp;&nbsp;&nbsp;11379 | &nbsp;&nbsp;&nbsp;&nbsp;67329 |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;40053 | &nbsp;&nbsp;&nbsp;&nbsp;313144 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Mexico (continued)** |  |  |
| GCC SAB de CV | &nbsp;&nbsp;14906 | $&nbsp;&nbsp;&nbsp;&nbsp;99282 |
| Genomma Lab Internacional SAB de CV, Class B | &nbsp;&nbsp;28340 | &nbsp;&nbsp;&nbsp;&nbsp;24535 |
| Gentera SAB de CV | &nbsp;&nbsp;85192 | &nbsp;&nbsp;&nbsp;&nbsp;96093 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp;20578 | &nbsp;&nbsp;&nbsp;&nbsp;86614 |
| Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;24906 | &nbsp;&nbsp;&nbsp;&nbsp;106109 |
| Grupo Financiero Banorte SAB de CV, Series O | 111883 | &nbsp;&nbsp;&nbsp;&nbsp;805197 |
| Grupo Financiero Inbursa SAB de CV, Series O (A) | &nbsp;&nbsp;97071 | &nbsp;&nbsp;&nbsp;&nbsp;164388 |
| Grupo KUO SAB de CV, Series B | &nbsp;&nbsp;42698 | &nbsp;&nbsp;&nbsp;&nbsp;97507 |
| Grupo Mexico SAB de CV, Series B | 173053 | &nbsp;&nbsp;&nbsp;&nbsp;610101 |
| Grupo Pochteca SAB de CV (A) | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990 |
| Grupo Televisa SAB, Series CPO | 187801 | &nbsp;&nbsp;&nbsp;&nbsp;170584 |
| Industrias CH SAB de CV, Series B (A) | &nbsp;&nbsp;18800 | &nbsp;&nbsp;&nbsp;&nbsp;216977 |
| Industrias Penoles SAB de CV (A) | &nbsp;&nbsp;&nbsp;8071 | &nbsp;&nbsp;&nbsp;&nbsp;98650 |
| La Comer SAB de CV | &nbsp;&nbsp;16584 | &nbsp;&nbsp;&nbsp;&nbsp;32221 |
| Megacable Holdings SAB de CV, Series CPO | &nbsp;&nbsp;40664 | &nbsp;&nbsp;&nbsp;&nbsp;108241 |
| Minera Frisco SAB de CV, Series A1 (A) | 168003 | &nbsp;&nbsp;&nbsp;&nbsp;21985 |
| Nemak SAB de CV (A)(B) | 159261 | &nbsp;&nbsp;&nbsp;&nbsp;45850 |
| Orbia Advance Corp. SAB de CV | &nbsp;&nbsp;73770 | &nbsp;&nbsp;&nbsp;&nbsp;130796 |
| Organizacion Cultiba SAB de CV (A) | &nbsp;&nbsp;17095 | &nbsp;&nbsp;&nbsp;&nbsp;11431 |
| Organizacion Soriana SAB de CV, Series B (A) | 190849 | &nbsp;&nbsp;&nbsp;&nbsp;306745 |
| Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;13125 | &nbsp;&nbsp;&nbsp;&nbsp;106790 |
| Promotora y Operadora de Infraestructura SAB de CV, L Shares | &nbsp;&nbsp;&nbsp;3141 | &nbsp;&nbsp;&nbsp;&nbsp;15152 |
| Vista Energy SAB de CV, ADR (A) | &nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;29550 |
| Vitro SAB de CV, Series A | &nbsp;&nbsp;&nbsp;6357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7079 |
|  |  | 4928990 |
| **Panama - 0.0%** |  |  |
| BAC Holding International Corp. (A) | &nbsp;&nbsp;12573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 |
| **Philippines - 0.8%** |  |  |
| ACEN Corp. | &nbsp;&nbsp;30450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4187 |
| Alliance Global Group, Inc. | 232800 | &nbsp;&nbsp;&nbsp;&nbsp;49926 |
| Ayala Corp. | &nbsp;&nbsp;10150 | &nbsp;&nbsp;&nbsp;&nbsp;127049 |
| Ayala Land, Inc. | &nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;&nbsp;24536 |
| Bank of the Philippine Islands | &nbsp;&nbsp;74260 | &nbsp;&nbsp;&nbsp;&nbsp;136216 |
| BDO Unibank, Inc. | 132752 | &nbsp;&nbsp;&nbsp;&nbsp;252452 |
| China Banking Corp. | &nbsp;&nbsp;75528 | &nbsp;&nbsp;&nbsp;&nbsp;37215 |
| Cosco Capital, Inc. | 388900 | &nbsp;&nbsp;&nbsp;&nbsp;32596 |
| DMCI Holdings, Inc. | 207300 | &nbsp;&nbsp;&nbsp;&nbsp;44804 |
| East West Banking Corp. | &nbsp;&nbsp;74300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8894 |
| Filinvest Development Corp. | 119475 | &nbsp;&nbsp;&nbsp;&nbsp;13732 |
| Filinvest Land, Inc. | 937500 | &nbsp;&nbsp;&nbsp;&nbsp;15127 |
| First Philippine Holdings Corp. | &nbsp;&nbsp;29660 | &nbsp;&nbsp;&nbsp;&nbsp;32188 |
| Global Ferronickel Holdings, Inc. | 283424 | &nbsp;&nbsp;&nbsp;&nbsp;12789 |
| GT Capital Holdings, Inc. | &nbsp;&nbsp;&nbsp;4619 | &nbsp;&nbsp;&nbsp;&nbsp;36130 |
| JG Summit Holdings, Inc. | 157922 | &nbsp;&nbsp;&nbsp;&nbsp;142801 |
| LT Group, Inc. | 159800 | &nbsp;&nbsp;&nbsp;&nbsp;26407 |
| Megaworld Corp. | 839700 | &nbsp;&nbsp;&nbsp;&nbsp;30220 |
| Metropolitan Bank & Trust Company | 130973 | &nbsp;&nbsp;&nbsp;&nbsp;127181 |
| Petron Corp. (A) | 289400 | &nbsp;&nbsp;&nbsp;&nbsp;12487 |
| Philex Mining Corp. | 161300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8791 |
| Philippine National Bank (A) | &nbsp;&nbsp;65310 | &nbsp;&nbsp;&nbsp;&nbsp;22284 |
| Philtown Properties, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| Phoenix Petroleum Philippines, Inc. (A) | &nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3432 |
| PNB Holdings Corp. (A)(C) | &nbsp;&nbsp;10246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 |
| Premium Leisure Corp. | 815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928 |
| Puregold Price Club, Inc. | &nbsp;&nbsp;79400 | &nbsp;&nbsp;&nbsp;&nbsp;49793 |
| RFM Corp. | 133500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8608 |
| Rizal Commercial Banking Corp. | &nbsp;&nbsp;62703 | &nbsp;&nbsp;&nbsp;&nbsp;26701 |
| Robinsons Land Corp. | 214668 | &nbsp;&nbsp;&nbsp;&nbsp;57717 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Philippines (continued)** |  |  |
| Robinsons Retail Holdings, Inc. | &nbsp;&nbsp;16680 | $&nbsp;&nbsp;&nbsp;&nbsp;16143 |
| San Miguel Corp. | &nbsp;&nbsp;46220 | &nbsp;&nbsp;&nbsp;&nbsp;77158 |
| Security Bank Corp. | &nbsp;&nbsp;27730 | &nbsp;&nbsp;&nbsp;&nbsp;43339 |
| Top Frontier Investment Holdings, Inc. (A) | &nbsp;&nbsp;18024 | &nbsp;&nbsp;&nbsp;&nbsp;30608 |
| Union Bank of the Philippines | &nbsp;&nbsp;69628 | &nbsp;&nbsp;&nbsp;&nbsp;107722 |
| Vista Land & Lifescapes, Inc. | 569000 | &nbsp;&nbsp;&nbsp;&nbsp;16803 |
|  |  | 1643129 |
| **Poland - 0.8%** |  |  |
| Alior Bank SA (A) | &nbsp;&nbsp;&nbsp;7988 | &nbsp;&nbsp;&nbsp;&nbsp;62818 |
| Asseco Poland SA | &nbsp;&nbsp;&nbsp;3232 | &nbsp;&nbsp;&nbsp;&nbsp;53705 |
| Bank Millennium SA (A) | &nbsp;&nbsp;32073 | &nbsp;&nbsp;&nbsp;&nbsp;33800 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;6202 | &nbsp;&nbsp;&nbsp;&nbsp;123380 |
| Ciech SA | &nbsp;&nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;26825 |
| Cyfrowy Polsat SA | &nbsp;&nbsp;12426 | &nbsp;&nbsp;&nbsp;&nbsp;50111 |
| Develia SA | &nbsp;&nbsp;22340 | &nbsp;&nbsp;&nbsp;&nbsp;12480 |
| Enea SA (A) | &nbsp;&nbsp;19073 | &nbsp;&nbsp;&nbsp;&nbsp;26151 |
| Grupa Azoty SA (A) | &nbsp;&nbsp;&nbsp;4728 | &nbsp;&nbsp;&nbsp;&nbsp;42780 |
| Jastrzebska Spolka Weglowa SA (A) | &nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp;45985 |
| KGHM Polska Miedz SA | &nbsp;&nbsp;&nbsp;8442 | &nbsp;&nbsp;&nbsp;&nbsp;245558 |
| Lubelski Wegiel Bogdanka SA | &nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp;24866 |
| mBank SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;50760 |
| PGE Polska Grupa Energetyczna SA (A) | &nbsp;&nbsp;66331 | &nbsp;&nbsp;&nbsp;&nbsp;104659 |
| PKP Cargo SA (A) | &nbsp;&nbsp;&nbsp;5709 | &nbsp;&nbsp;&nbsp;&nbsp;18869 |
| Polski Koncern Naftowy ORLEN SA | &nbsp;&nbsp;35885 | &nbsp;&nbsp;&nbsp;&nbsp;527198 |
| Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;72869 |
| Stalexport Autostrady SA | &nbsp;&nbsp;15820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9679 |
| Tauron Polska Energia SA (A) | &nbsp;&nbsp;90488 | &nbsp;&nbsp;&nbsp;&nbsp;43936 |
|  |  | 1576429 |
| **Qatar - 0.8%** |  |  |
| Aamal Company | 210501 | &nbsp;&nbsp;&nbsp;&nbsp;56521 |
| Al Khaleej Takaful Group QSC | &nbsp;&nbsp;11244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7128 |
| Alijarah Holding Company QPSC (A) | &nbsp;&nbsp;77548 | &nbsp;&nbsp;&nbsp;&nbsp;15040 |
| Baladna | &nbsp;&nbsp;72138 | &nbsp;&nbsp;&nbsp;&nbsp;30499 |
| Barwa Real Estate Company | 145868 | &nbsp;&nbsp;&nbsp;&nbsp;115162 |
| Commercial Bank PSQC | 167076 | &nbsp;&nbsp;&nbsp;&nbsp;229570 |
| Doha Bank QPSC | 139323 | &nbsp;&nbsp;&nbsp;&nbsp;75057 |
| Doha Insurance Company QSC | &nbsp;&nbsp;25407 | &nbsp;&nbsp;&nbsp;&nbsp;13880 |
| Gulf International Services QSC (A) | 102379 | &nbsp;&nbsp;&nbsp;&nbsp;41645 |
| Gulf Warehousing Company | &nbsp;&nbsp;19525 | &nbsp;&nbsp;&nbsp;&nbsp;21843 |
| Lesha Bank LLC (A) | &nbsp;&nbsp;70330 | &nbsp;&nbsp;&nbsp;&nbsp;22200 |
| Mannai Corp. QSC | &nbsp;&nbsp;&nbsp;5422 | &nbsp;&nbsp;&nbsp;&nbsp;11358 |
| Masraf Al Rayan QSC | 202523 | &nbsp;&nbsp;&nbsp;&nbsp;176562 |
| Medicare Group | &nbsp;&nbsp;&nbsp;9515 | &nbsp;&nbsp;&nbsp;&nbsp;16302 |
| Mesaieed Petrochemical Holding Company | 223749 | &nbsp;&nbsp;&nbsp;&nbsp;131400 |
| Ooredoo QPSC | &nbsp;&nbsp;80019 | &nbsp;&nbsp;&nbsp;&nbsp;203214 |
| Qatar Aluminum Manufacturing Company | &nbsp;&nbsp;18852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7950 |
| Qatar Fuel QSC | &nbsp;&nbsp;28262 | &nbsp;&nbsp;&nbsp;&nbsp;139481 |
| Qatar Insurance Company SAQ | 125447 | &nbsp;&nbsp;&nbsp;&nbsp;66519 |
| Qatar National Cement Company QSC | &nbsp;&nbsp;23781 | &nbsp;&nbsp;&nbsp;&nbsp;31599 |
| Qatar Navigation QSC | &nbsp;&nbsp;41293 | &nbsp;&nbsp;&nbsp;&nbsp;114365 |
| Salam International Investment, Ltd., QSC (A) | &nbsp;&nbsp;94802 | &nbsp;&nbsp;&nbsp;&nbsp;16173 |
| United Development Company QSC | 177150 | &nbsp;&nbsp;&nbsp;&nbsp;63166 |
| Vodafone Qatar QSC | 145471 | &nbsp;&nbsp;&nbsp;&nbsp;63288 |
|  |  | 1669922 |
| **Russia - 0.0%** |  |  |
| Gazprom PJSC, ADR (London Stock Exchange) (A)(C) | 196506 | &nbsp;&nbsp;&nbsp;&nbsp;42838 |
| LUKOIL PJSC, ADR (A)(C) | &nbsp;&nbsp;16379 | &nbsp;&nbsp;&nbsp;&nbsp;32791 |
| Rosneft Oil Company PJSC, GDR (London Stock Exchange) (A)(C) | &nbsp;&nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 |
| RusHydro PJSC, ADR (A)(C) | &nbsp;&nbsp;52278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830 |
| VTB Bank PJSC, GDR (A)(C) | &nbsp;&nbsp;86297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;79066 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Saudi Arabia - 3.7%** |  |  |
| Al Babtain Power & Telecommunication Company | &nbsp;&nbsp;2665 | $&nbsp;&nbsp;&nbsp;&nbsp;14988 |
| Al Jouf Cement Company (A) | &nbsp;&nbsp;5694 | &nbsp;&nbsp;&nbsp;&nbsp;16832 |
| Al Khaleej Training and Education Company (A) | &nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8404 |
| AlAbdullatif Industrial Investment Company (A) | &nbsp;&nbsp;1743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7256 |
| Al-Etihad Cooperative Insurance Company (A) | &nbsp;&nbsp;3674 | &nbsp;&nbsp;&nbsp;&nbsp;14733 |
| AlJazira Takaful Ta'awuni Company (A) | &nbsp;&nbsp;2192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8603 |
| Allianz Saudi Fransi Cooperative Insurance Company (A) | &nbsp;&nbsp;1628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5674 |
| Arab National Bank | 44824 | &nbsp;&nbsp;&nbsp;&nbsp;380913 |
| Arabian Cement Company | &nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp;37531 |
| Arriyadh Development Company | &nbsp;&nbsp;5359 | &nbsp;&nbsp;&nbsp;&nbsp;25937 |
| Bank Al-Jazira | 34800 | &nbsp;&nbsp;&nbsp;&nbsp;176052 |
| Banque Saudi Fransi | 43109 | &nbsp;&nbsp;&nbsp;&nbsp;464818 |
| City Cement Company | &nbsp;&nbsp;6807 | &nbsp;&nbsp;&nbsp;&nbsp;36473 |
| Dar Al Arkan Real Estate Development Company (A) | 49101 | &nbsp;&nbsp;&nbsp;&nbsp;151670 |
| Dur Hospitality Company (A) | &nbsp;&nbsp;5874 | &nbsp;&nbsp;&nbsp;&nbsp;30940 |
| Eastern Province Cement Company | &nbsp;&nbsp;3671 | &nbsp;&nbsp;&nbsp;&nbsp;39554 |
| Electrical Industries Company | &nbsp;&nbsp;3438 | &nbsp;&nbsp;&nbsp;&nbsp;21806 |
| Emaar Economic City (A) | 21759 | &nbsp;&nbsp;&nbsp;&nbsp;48269 |
| Etihad Etisalat Company | 42915 | &nbsp;&nbsp;&nbsp;&nbsp;396696 |
| Gulf Insurance Group | &nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;13777 |
| Hail Cement Company | &nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;&nbsp;13420 |
| Jazan Energy and Development Company (A) | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6795 |
| L'Azurde Company for Jewelry | &nbsp;&nbsp;2204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7280 |
| Methanol Chemicals Company (A) | &nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;19445 |
| Mobile Telecommunications Company Saudi Arabia (A) | 47765 | &nbsp;&nbsp;&nbsp;&nbsp;127568 |
| Najran Cement Company | &nbsp;&nbsp;7837 | &nbsp;&nbsp;&nbsp;&nbsp;25413 |
| National Gypsum | &nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;11301 |
| National Industrialization Company (A) | 27624 | &nbsp;&nbsp;&nbsp;&nbsp;91421 |
| Northern Region Cement Company | 10351 | &nbsp;&nbsp;&nbsp;&nbsp;29872 |
| Riyad Bank | 30375 | &nbsp;&nbsp;&nbsp;&nbsp;258290 |
| Sahara International Petrochemical Company | 31147 | &nbsp;&nbsp;&nbsp;&nbsp;284870 |
| Saudi Basic Industries Corp. | 81336 | 1945665 |
| Saudi Ceramic Company | &nbsp;&nbsp;4758 | &nbsp;&nbsp;&nbsp;&nbsp;36164 |
| Saudi Chemical Company Holding | &nbsp;&nbsp;3283 | &nbsp;&nbsp;&nbsp;&nbsp;23260 |
| Saudi Industrial Investment Group | 18489 | &nbsp;&nbsp;&nbsp;&nbsp;109212 |
| Saudi Industrial Services Company | &nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;12058 |
| Saudi Kayan Petrochemical Company (A) | 89494 | &nbsp;&nbsp;&nbsp;&nbsp;328043 |
| Saudi Marketing Company (A) | &nbsp;&nbsp;2495 | &nbsp;&nbsp;&nbsp;&nbsp;12083 |
| Saudi Pharmaceutical Industries & Medical Appliances Corp. | &nbsp;&nbsp;2823 | &nbsp;&nbsp;&nbsp;&nbsp;16358 |
| Saudi Reinsurance Company (A) | &nbsp;&nbsp;5052 | &nbsp;&nbsp;&nbsp;&nbsp;18466 |
| Seera Group Holding (A) | 16962 | &nbsp;&nbsp;&nbsp;&nbsp;78945 |
| Sinad Holding Company (A) | &nbsp;&nbsp;4643 | &nbsp;&nbsp;&nbsp;&nbsp;12650 |
| Tabuk Cement Company | &nbsp;&nbsp;4675 | &nbsp;&nbsp;&nbsp;&nbsp;18668 |
| The National Company for Glass Industries | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8019 |
| The Saudi British Bank | 58796 | &nbsp;&nbsp;&nbsp;&nbsp;604919 |
| The Saudi Investment Bank | 38132 | &nbsp;&nbsp;&nbsp;&nbsp;175823 |
| The Saudi National Bank | 72308 | &nbsp;&nbsp;&nbsp;&nbsp;973232 |
| The Savola Group | 10299 | &nbsp;&nbsp;&nbsp;&nbsp;75543 |
| Umm Al-Qura Cement Company | &nbsp;&nbsp;2316 | &nbsp;&nbsp;&nbsp;&nbsp;10334 |
| United International Transportation Company | &nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;23131 |
| Walaa Cooperative Insurance Company (A) | &nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070 |
| Yamama Cement Company (A) | 11422 | &nbsp;&nbsp;&nbsp;&nbsp;82652 |
| Yanbu Cement Company | &nbsp;&nbsp;2190 | &nbsp;&nbsp;&nbsp;&nbsp;20781 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Saudi Arabia (continued)** |  |  |
| Yanbu National Petrochemical Company | &nbsp;&nbsp;&nbsp;9287 | $&nbsp;&nbsp;&nbsp;&nbsp;103309 |
|  |  | 7472986 |
| **Singapore - 0.1%** |  |  |
| BOC Aviation, Ltd. (B) | &nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;67478 |
| JOYY, Inc., ADR | &nbsp;&nbsp;&nbsp;2343 | &nbsp;&nbsp;&nbsp;&nbsp;74015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;141493 |
| **South Africa - 3.6%** |  |  |
| Absa Group, Ltd. | &nbsp;&nbsp;60222 | &nbsp;&nbsp;&nbsp;&nbsp;683858 |
| AECI, Ltd. | &nbsp;&nbsp;11686 | &nbsp;&nbsp;&nbsp;&nbsp;60389 |
| African Rainbow Minerals, Ltd. | &nbsp;&nbsp;10677 | &nbsp;&nbsp;&nbsp;&nbsp;180414 |
| Alexander Forbes Group Holdings, Ltd. | &nbsp;&nbsp;43311 | &nbsp;&nbsp;&nbsp;&nbsp;13424 |
| Alviva Holdings, Ltd. | &nbsp;&nbsp;22754 | &nbsp;&nbsp;&nbsp;&nbsp;36426 |
| AngloGold Ashanti, Ltd. | &nbsp;&nbsp;&nbsp;3511 | &nbsp;&nbsp;&nbsp;&nbsp;68409 |
| AngloGold Ashanti, Ltd., ADR | &nbsp;&nbsp;18402 | &nbsp;&nbsp;&nbsp;&nbsp;357367 |
| Aspen Pharmacare Holdings, Ltd. | &nbsp;&nbsp;20940 | &nbsp;&nbsp;&nbsp;&nbsp;167472 |
| Astral Foods, Ltd. | &nbsp;&nbsp;&nbsp;4628 | &nbsp;&nbsp;&nbsp;&nbsp;44449 |
| Balwin Properties, Ltd. | &nbsp;&nbsp;&nbsp;6271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 |
| Barloworld, Ltd. | &nbsp;&nbsp;21853 | &nbsp;&nbsp;&nbsp;&nbsp;108472 |
| Blue Label Telecoms, Ltd. (A) | &nbsp;&nbsp;44582 | &nbsp;&nbsp;&nbsp;&nbsp;12753 |
| Caxton & CTP Publishers & Printers, Ltd. | &nbsp;&nbsp;19879 | &nbsp;&nbsp;&nbsp;&nbsp;10788 |
| DataTec, Ltd. | &nbsp;&nbsp;20519 | &nbsp;&nbsp;&nbsp;&nbsp;37658 |
| Discovery, Ltd. (A) | &nbsp;&nbsp;&nbsp;2433 | &nbsp;&nbsp;&nbsp;&nbsp;17599 |
| Exxaro Resources, Ltd. | &nbsp;&nbsp;16334 | &nbsp;&nbsp;&nbsp;&nbsp;209410 |
| Gold Fields, Ltd., ADR | &nbsp;&nbsp;&nbsp;9597 | &nbsp;&nbsp;&nbsp;&nbsp;99329 |
| Grindrod, Ltd. | &nbsp;&nbsp;45556 | &nbsp;&nbsp;&nbsp;&nbsp;26791 |
| Harmony Gold Mining Company, Ltd. | &nbsp;&nbsp;13919 | &nbsp;&nbsp;&nbsp;&nbsp;48628 |
| Harmony Gold Mining Company, Ltd., ADR | &nbsp;&nbsp;23256 | &nbsp;&nbsp;&nbsp;&nbsp;79070 |
| Hudaco Industries, Ltd. | &nbsp;&nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp;41982 |
| Impala Platinum Holdings, Ltd. | &nbsp;&nbsp;63155 | &nbsp;&nbsp;&nbsp;&nbsp;793661 |
| Investec, Ltd. | &nbsp;&nbsp;19898 | &nbsp;&nbsp;&nbsp;&nbsp;125804 |
| KAP Industrial Holdings, Ltd. | 257249 | &nbsp;&nbsp;&nbsp;&nbsp;66957 |
| Lewis Group, Ltd. | &nbsp;&nbsp;14408 | &nbsp;&nbsp;&nbsp;&nbsp;41305 |
| Life Healthcare Group Holdings, Ltd. | &nbsp;&nbsp;71422 | &nbsp;&nbsp;&nbsp;&nbsp;70949 |
| Metair Investments, Ltd. | &nbsp;&nbsp;23633 | &nbsp;&nbsp;&nbsp;&nbsp;38181 |
| Momentum Metropolitan Holdings | &nbsp;&nbsp;97843 | &nbsp;&nbsp;&nbsp;&nbsp;98416 |
| Motus Holdings, Ltd. | &nbsp;&nbsp;14065 | &nbsp;&nbsp;&nbsp;&nbsp;91398 |
| Mpact, Ltd. | &nbsp;&nbsp;23460 | &nbsp;&nbsp;&nbsp;&nbsp;40294 |
| MTN Group, Ltd. | &nbsp;&nbsp;21592 | &nbsp;&nbsp;&nbsp;&nbsp;161265 |
| Murray & Roberts Holdings, Ltd. (A) | &nbsp;&nbsp;48310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8357 |
| Nedbank Group, Ltd. | &nbsp;&nbsp;30206 | &nbsp;&nbsp;&nbsp;&nbsp;377843 |
| Oceana Group, Ltd. | &nbsp;&nbsp;&nbsp;5108 | &nbsp;&nbsp;&nbsp;&nbsp;18973 |
| Old Mutual, Ltd. | 351536 | &nbsp;&nbsp;&nbsp;&nbsp;215661 |
| Omnia Holdings, Ltd. | &nbsp;&nbsp;19012 | &nbsp;&nbsp;&nbsp;&nbsp;69670 |
| Pepkor Holdings, Ltd. (B) | 118240 | &nbsp;&nbsp;&nbsp;&nbsp;139290 |
| PPC, Ltd. (A) | 168790 | &nbsp;&nbsp;&nbsp;&nbsp;21572 |
| Raubex Group, Ltd. | &nbsp;&nbsp;20799 | &nbsp;&nbsp;&nbsp;&nbsp;33983 |
| RCL Foods, Ltd. | &nbsp;&nbsp;35643 | &nbsp;&nbsp;&nbsp;&nbsp;20978 |
| Reunert, Ltd. | &nbsp;&nbsp;19682 | &nbsp;&nbsp;&nbsp;&nbsp;60000 |
| Royal Bafokeng Platinum, Ltd. | &nbsp;&nbsp;13281 | &nbsp;&nbsp;&nbsp;&nbsp;129622 |
| Sappi, Ltd. (A) | &nbsp;&nbsp;61862 | &nbsp;&nbsp;&nbsp;&nbsp;178707 |
| Sasol, Ltd. | &nbsp;&nbsp;42649 | &nbsp;&nbsp;&nbsp;&nbsp;680620 |
| Sibanye Stillwater, Ltd. | 166515 | &nbsp;&nbsp;&nbsp;&nbsp;441470 |
| Sibanye Stillwater, Ltd., ADR | &nbsp;&nbsp;&nbsp;8487 | &nbsp;&nbsp;&nbsp;&nbsp;90471 |
| Standard Bank Group, Ltd. | &nbsp;&nbsp;77051 | &nbsp;&nbsp;&nbsp;&nbsp;760236 |
| Super Group, Ltd. | &nbsp;&nbsp;42421 | &nbsp;&nbsp;&nbsp;&nbsp;66240 |
| Telkom SA SOC, Ltd. (A) | &nbsp;&nbsp;37622 | &nbsp;&nbsp;&nbsp;&nbsp;66199 |
| Trencor, Ltd. (A) | &nbsp;&nbsp;40666 | &nbsp;&nbsp;&nbsp;&nbsp;13858 |
| Wilson Bayly Holmes-Ovcon, Ltd. (A) | &nbsp;&nbsp;&nbsp;5366 | &nbsp;&nbsp;&nbsp;&nbsp;28103 |
| Zeda, Ltd. (A) | &nbsp;&nbsp;21853 | &nbsp;&nbsp;&nbsp;&nbsp;17517 |
|  |  | 7273340 |
| **South Korea - 12.0%** |  |  |
| AJ Networks Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2832 | &nbsp;&nbsp;&nbsp;&nbsp;12815 |
| Ajin Industrial Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;8098 | &nbsp;&nbsp;&nbsp;&nbsp;15253 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| AK Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;743 | $&nbsp;&nbsp;&nbsp;10068 |
| AMOREPACIFIC Group (A) | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;52703 |
| Asia Cement Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;2344 |
| ASIA Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;25143 |
| Asia Paper Manufacturing Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;17586 |
| Binggrae Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;16251 |
| BNK Financial Group, Inc. (A) | 20556 | 105898 |
| Bookook Securities Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;7216 |
| Chongkundang Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;12156 |
| Chosun Refractories Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;20267 |
| CJ CheilJedang Corp. | &nbsp;&nbsp;&nbsp;&nbsp;819 | 246364 |
| CJ Corp. (A) | &nbsp;&nbsp;1674 | 111822 |
| CJ ENM Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;70386 |
| CJ Logistics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;61599 |
| Com2uS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;18814 |
| Dae Han Flour Mills Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;24393 |
| Dae Won Kang Up Company, Ltd. (A) | &nbsp;&nbsp;4385 | &nbsp;&nbsp;&nbsp;11762 |
| Daedong Corp. (A) | &nbsp;&nbsp;3364 | &nbsp;&nbsp;&nbsp;34703 |
| Daesang Corp. (A) | &nbsp;&nbsp;2028 | &nbsp;&nbsp;&nbsp;35202 |
| Daesang Holdings Company, Ltd. (A) | &nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;14166 |
| Daewoo Engineering & Construction Company, Ltd. (A) | 20805 | &nbsp;&nbsp;&nbsp;68962 |
| Dahaam E-Tec Company, Ltd. (A) | &nbsp;&nbsp;2630 | &nbsp;&nbsp;&nbsp;76955 |
| Daihan Pharmaceutical Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;13649 |
| Daishin Securities Company, Ltd. (A) | &nbsp;&nbsp;3901 | &nbsp;&nbsp;&nbsp;39938 |
| Daol Investment & Securities Company, Ltd. (A) | &nbsp;&nbsp;4729 | &nbsp;&nbsp;&nbsp;10516 |
| Daou Technology, Inc. (A) | &nbsp;&nbsp;2309 | &nbsp;&nbsp;&nbsp;35124 |
| DB Financial Investment Company, Ltd. (A) | &nbsp;&nbsp;3849 | &nbsp;&nbsp;&nbsp;12508 |
| DB Insurance Company, Ltd. (A) | &nbsp;&nbsp;4035 | 209154 |
| DB, Inc. (A) | 19825 | &nbsp;&nbsp;&nbsp;12573 |
| Deutsch Motors, Inc. | &nbsp;&nbsp;3903 | &nbsp;&nbsp;&nbsp;17548 |
| DGB Financial Group, Inc. (A) | 19003 | 105144 |
| DI Dong Il Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp;9442 |
| DL E&C Company, Ltd. (A) | &nbsp;&nbsp;4034 | 108095 |
| DL Holdings Company, Ltd. (A) | &nbsp;&nbsp;1609 | &nbsp;&nbsp;&nbsp;75791 |
| DMS Company, Ltd. | &nbsp;&nbsp;3275 | &nbsp;&nbsp;&nbsp;15509 |
| Dongkuk Industries Company, Ltd. (A) | &nbsp;&nbsp;8476 | &nbsp;&nbsp;&nbsp;24677 |
| Dongkuk Steel Mill Company, Ltd. (A) | &nbsp;&nbsp;6404 | &nbsp;&nbsp;&nbsp;56597 |
| Dongwha Pharm Company, Ltd. (A) | &nbsp;&nbsp;1912 | &nbsp;&nbsp;&nbsp;14057 |
| Dongwon Development Company, Ltd. (A) | &nbsp;&nbsp;5212 | &nbsp;&nbsp;&nbsp;14133 |
| Dongwon F&B Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;15229 |
| Dongwon Industries Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;34435 |
| Doosan Bobcat, Inc. | &nbsp;&nbsp;4079 | 111607 |
| Doosan Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;36435 |
| DoubleUGames Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;19101 |
| Easy Holdings Company, Ltd. | &nbsp;&nbsp;3872 | &nbsp;&nbsp;&nbsp;&nbsp;8679 |
| EBEST Investment & Securities Company, Ltd. (A) | &nbsp;&nbsp;2321 | &nbsp;&nbsp;&nbsp;&nbsp;9173 |
| E-MART, Inc. | &nbsp;&nbsp;1480 | 115071 |
| Eugene Corp. (A) | &nbsp;&nbsp;6888 | &nbsp;&nbsp;&nbsp;19619 |
| Eugene Investment & Securities Company, Ltd. (A) | 11471 | &nbsp;&nbsp;&nbsp;21227 |
| Eusu Holdings Company, Ltd. (A) | &nbsp;&nbsp;1407 | &nbsp;&nbsp;&nbsp;&nbsp;7139 |
| Farmsco (A) | &nbsp;&nbsp;2687 | &nbsp;&nbsp;&nbsp;&nbsp;8340 |
| Fila Holdings Corp. | &nbsp;&nbsp;3332 | &nbsp;&nbsp;&nbsp;87904 |
| Green Cross Holdings Corp. (A) | &nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;21774 |
| GS Engineering & Construction Corp. (A) | &nbsp;&nbsp;4548 | &nbsp;&nbsp;&nbsp;76522 |
| GS Global Corp. (A) | &nbsp;&nbsp;7813 | &nbsp;&nbsp;&nbsp;13918 |
| GS Holdings Corp. | &nbsp;&nbsp;5061 | 175631 |
| GS Retail Company, Ltd. (A) | &nbsp;&nbsp;3309 | &nbsp;&nbsp;&nbsp;73885 |
| Gwangju Shinsegae Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;19272 |
| Haesung Industrial Company, Ltd. (A) | &nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;8840 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| Hana Financial Group, Inc. | 21723 | $723357 |
| Handok, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;9691 |
| Handsome Company, Ltd. (A) | &nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;33164 |
| Hanil Cement Company, Ltd. | &nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;13442 |
| Hanil Holdings Company, Ltd. | &nbsp;&nbsp;3183 | &nbsp;&nbsp;&nbsp;27161 |
| Hanjin Transportation Company, Ltd. (A) | &nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;17528 |
| Hankook Tire & Technology Company, Ltd. (A) | &nbsp;&nbsp;5360 | 132359 |
| Hanshin Construction Company, Ltd. (A) | &nbsp;&nbsp;1844 | &nbsp;&nbsp;&nbsp;12468 |
| Hansol Holdings Company, Ltd. (A) | &nbsp;&nbsp;5241 | &nbsp;&nbsp;&nbsp;13581 |
| Hansol Paper Company, Ltd. | &nbsp;&nbsp;2920 | &nbsp;&nbsp;&nbsp;30704 |
| Hansol Technics Company, Ltd. (A) | &nbsp;&nbsp;3325 | &nbsp;&nbsp;&nbsp;13426 |
| Hanwha Corp. (A) | &nbsp;&nbsp;2757 | &nbsp;&nbsp;&nbsp;56108 |
| Hanwha Investment & Securities Company, Ltd. (A) | 15071 | &nbsp;&nbsp;&nbsp;28159 |
| Hanwha Life Insurance Company, Ltd. (A) | 34108 | &nbsp;&nbsp;&nbsp;74843 |
| Hanwha Solutions Corp. (A) | &nbsp;&nbsp;4135 | 141391 |
| Hanyang Eng Company, Ltd. (A) | &nbsp;&nbsp;1654 | &nbsp;&nbsp;&nbsp;18957 |
| Harim Company, Ltd. (A) | &nbsp;&nbsp;5978 | &nbsp;&nbsp;&nbsp;12895 |
| Harim Holdings Company, Ltd. (A) | &nbsp;&nbsp;1443 | &nbsp;&nbsp;&nbsp;&nbsp;8790 |
| HD Hyundai Company, Ltd. | &nbsp;&nbsp;3580 | 162023 |
| HDC Holdings Company, Ltd. (A) | &nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;11916 |
| HDC Hyundai Development Co-Engineering & Construction, Series E (A) | &nbsp;&nbsp;3037 | &nbsp;&nbsp;&nbsp;24120 |
| Hitejinro Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;7669 |
| HL Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;20367 |
| HL Mando Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;20712 |
| HMM Company, Ltd. (A) | 21976 | 342527 |
| HS Industries Company, Ltd. (A) | &nbsp;&nbsp;4056 | &nbsp;&nbsp;&nbsp;12361 |
| Huons Global Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;8662 |
| Huvis Corp. (A) | &nbsp;&nbsp;3715 | &nbsp;&nbsp;&nbsp;14343 |
| Hyosung Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;28683 |
| Hyosung Heavy Industries Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;45734 |
| Hyundai Construction Equipment Company, Ltd. (A) | &nbsp;&nbsp;1613 | &nbsp;&nbsp;&nbsp;79689 |
| Hyundai Corp. (A) | &nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;17187 |
| Hyundai Corp. Holdings, Inc. (A) | &nbsp;&nbsp;1811 | &nbsp;&nbsp;&nbsp;14863 |
| Hyundai Department Store Company, Ltd. (A) | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;58254 |
| Hyundai Doosan Infracore Company, Ltd. | 12566 | &nbsp;&nbsp;&nbsp;79728 |
| Hyundai Engineering & Construction Company, Ltd. (A) | &nbsp;&nbsp;5407 | 149485 |
| Hyundai Futurenet Company, Ltd. (A) | &nbsp;&nbsp;8894 | &nbsp;&nbsp;&nbsp;17667 |
| Hyundai Glovis Company, Ltd. (A) | &nbsp;&nbsp;1173 | 152292 |
| Hyundai Greenfood Company, Ltd. (A) | &nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;27970 |
| Hyundai Home Shopping Network Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;27881 |
| Hyundai Livart Furniture Company, Ltd. (A) | &nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp;9046 |
| Hyundai Marine & Fire Insurance Company, Ltd. (A) | &nbsp;&nbsp;4678 | 108985 |
| Hyundai Mobis Company, Ltd. | &nbsp;&nbsp;3299 | 523282 |
| Hyundai Motor Company | &nbsp;&nbsp;7569 | 905873 |
| Hyundai Motor Securities Company, Ltd. (A) | &nbsp;&nbsp;3480 | &nbsp;&nbsp;&nbsp;25089 |
| Hyundai Steel Company (A) | &nbsp;&nbsp;6801 | 165767 |
| Hyundai Wia Corp. (A) | &nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;50407 |
| Iljin Holdings Company, Ltd. (A) | &nbsp;&nbsp;4669 | &nbsp;&nbsp;&nbsp;14146 |
| Industrial Bank of Korea | 18712 | 145430 |
| Innocean Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;15312 |
| INTOPS Company, Ltd. | &nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;30252 |
| Inzi Controls Company, Ltd. (A) | &nbsp;&nbsp;1760 | &nbsp;&nbsp;&nbsp;&nbsp;9754 |
| IS Dongseo Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;19238 |
| JB Financial Group Company, Ltd. | 11451 | &nbsp;&nbsp;&nbsp;71545 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| Jeil Savings Bank (A)(C) | &nbsp;&nbsp;1820 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| KAON Media Company, Ltd. (A) | &nbsp;&nbsp;3062 | &nbsp;&nbsp;&nbsp;&nbsp;18589 |
| KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;21072 |
| KB Financial Group, Inc., ADR | 27405 | 1059477 |
| KC Company, Ltd. (A) | &nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp;20244 |
| KC Tech Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp;&nbsp;&nbsp;10455 |
| KCC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp;56274 |
| KCC Glass Corp. | &nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp;27454 |
| KCTC (A) | &nbsp;&nbsp;4403 | &nbsp;&nbsp;&nbsp;&nbsp;15800 |
| KG Chemical Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;13042 |
| Kginicis Company, Ltd. | &nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;11043 |
| KGMobilians Company, Ltd. | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;12080 |
| Kia Corp. (A) | 20749 | &nbsp;&nbsp;&nbsp;&nbsp;976251 |
| KISCO Corp. | &nbsp;&nbsp;4131 | &nbsp;&nbsp;&nbsp;&nbsp;19937 |
| KISCO Holdings Company, Ltd. | &nbsp;&nbsp;1536 | &nbsp;&nbsp;&nbsp;&nbsp;19084 |
| KISWIRE, Ltd. (A) | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;26178 |
| KIWOOM Securities Company, Ltd. (A) | &nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;95530 |
| Kolmar Korea Holdings Company, Ltd. (A) | &nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;16563 |
| Kolon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;15642 |
| Kolon Industries, Inc. (A) | &nbsp;&nbsp;1911 | &nbsp;&nbsp;&nbsp;&nbsp;62355 |
| Korea Asset In Trust Company, Ltd. (A) | &nbsp;&nbsp;9060 | &nbsp;&nbsp;&nbsp;&nbsp;21381 |
| Korea Circuit Company, Ltd. (A) | &nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;13536 |
| Korea Electric Terminal Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;23010 |
| Korea Investment Holdings Company, Ltd. (A) | &nbsp;&nbsp;4028 | &nbsp;&nbsp;&nbsp;&nbsp;170941 |
| Korea Line Corp. (A) | 23137 | &nbsp;&nbsp;&nbsp;&nbsp;40003 |
| Korea Petrochemical Industrial Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;60079 |
| Korea Real Estate Investment & Trust Company, Ltd. (A) | 14635 | &nbsp;&nbsp;&nbsp;&nbsp;15194 |
| Korea Shipbuilding & Offshore Engineering Company, Ltd. | &nbsp;&nbsp;2512 | &nbsp;&nbsp;&nbsp;&nbsp;141255 |
| Korean Reinsurance Company (A) | 11364 | &nbsp;&nbsp;&nbsp;&nbsp;61276 |
| Kortek Corp. (A) | &nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;&nbsp;12983 |
| KPX Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;26656 |
| KSS LINE, Ltd. (A) | &nbsp;&nbsp;3562 | &nbsp;&nbsp;&nbsp;&nbsp;26109 |
| KT Skylife Company, Ltd. (A) | &nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp;11395 |
| Kukdo Chemical Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;15755 |
| Kumho HT, Inc. (A) | 19985 | &nbsp;&nbsp;&nbsp;&nbsp;14132 |
| Kumho Petrochemical Company, Ltd. (A) | &nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;120181 |
| Kumho Tire Company, Inc. (A) | &nbsp;&nbsp;7054 | &nbsp;&nbsp;&nbsp;&nbsp;15519 |
| KUMHOE&C Company, Ltd. (A) | &nbsp;&nbsp;2357 | &nbsp;&nbsp;&nbsp;&nbsp;13067 |
| Kwang Dong Pharmaceutical Company, Ltd. (A) | &nbsp;&nbsp;3313 | &nbsp;&nbsp;&nbsp;&nbsp;15649 |
| Kyeryong Construction Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;12193 |
| Kyung-In Synthetic Corp. (A) | &nbsp;&nbsp;4181 | &nbsp;&nbsp;&nbsp;&nbsp;13544 |
| LF Corp. | &nbsp;&nbsp;2312 | &nbsp;&nbsp;&nbsp;&nbsp;29141 |
| LG Corp. (A) | &nbsp;&nbsp;6087 | &nbsp;&nbsp;&nbsp;&nbsp;376908 |
| LG Display Company, Ltd., ADR | 48840 | &nbsp;&nbsp;&nbsp;&nbsp;242246 |
| LG Electronics, Inc. (A) | 10548 | &nbsp;&nbsp;&nbsp;&nbsp;725173 |
| LG HelloVision Company, Ltd. (A) | &nbsp;&nbsp;3836 | &nbsp;&nbsp;&nbsp;&nbsp;13340 |
| LG Uplus Corp. | 18651 | &nbsp;&nbsp;&nbsp;&nbsp;163333 |
| Lotte Chemical Corp. (A) | &nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;143082 |
| Lotte Confectionery Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 |
| Lotte Corp. (A) | &nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp;49140 |
| Lotte Data Communication Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;12971 |
| LOTTE Fine Chemical Company, Ltd. (A) | &nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp;67595 |
| LOTTE Himart Company, Ltd. (A) | &nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9768 |
| Lotte Non-Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;5459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6108 |
| Lotte Shopping Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;63484 |
| LS Corp. (A) | &nbsp;&nbsp;1347 | &nbsp;&nbsp;&nbsp;&nbsp;74376 |
| LS Electric Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;43959 |
| LX Hausys, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;16443 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| LX Holdings Corp. (A) | &nbsp;&nbsp;2952 | $&nbsp;&nbsp;&nbsp;&nbsp;19773 |
| LX International Corp. (A) | &nbsp;&nbsp;2902 | &nbsp;&nbsp;&nbsp;&nbsp;78180 |
| Meritz Securities Company, Ltd. (A) | 29781 | &nbsp;&nbsp;&nbsp;&nbsp;148316 |
| Mirae Asset Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;8582 | &nbsp;&nbsp;&nbsp;&nbsp;19669 |
| Mirae Asset Securities Company, Ltd. (A) | 22352 | &nbsp;&nbsp;&nbsp;&nbsp;107994 |
| MK Electron Company, Ltd. (A) | &nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;16561 |
| Motonic Corp. (A) | &nbsp;&nbsp;2259 | &nbsp;&nbsp;&nbsp;&nbsp;14330 |
| Muhak Company, Ltd. (A) | &nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8152 |
| Namyang Dairy Products Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;22479 |
| Netmarble Corp. (A)(B) | &nbsp;&nbsp;1718 | &nbsp;&nbsp;&nbsp;&nbsp;82646 |
| Nexen Corp. (A) | &nbsp;&nbsp;3733 | &nbsp;&nbsp;&nbsp;&nbsp;12110 |
| Nexen Tire Corp. (A) | &nbsp;&nbsp;6465 | &nbsp;&nbsp;&nbsp;&nbsp;31246 |
| NH Investment & Securities Company, Ltd. (A) | 12340 | &nbsp;&nbsp;&nbsp;&nbsp;85881 |
| NHN Corp. (A) | &nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp;37158 |
| Nice Information & Telecommunication, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;14866 |
| Nong Shim Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;21179 |
| NongShim Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;72018 |
| OCI Company, Ltd. | &nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;103384 |
| Orion Holdings Corp. (A) | &nbsp;&nbsp;2756 | &nbsp;&nbsp;&nbsp;&nbsp;33482 |
| Ottogi Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;18514 |
| Paik Kwang Industrial Company, Ltd. | &nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;14547 |
| Pan Ocean Company, Ltd. (A) | 26446 | &nbsp;&nbsp;&nbsp;&nbsp;120569 |
| Partron Company, Ltd. | &nbsp;&nbsp;3579 | &nbsp;&nbsp;&nbsp;&nbsp;22920 |
| PHA Company, Ltd. (A) | &nbsp;&nbsp;2626 | &nbsp;&nbsp;&nbsp;&nbsp;14657 |
| Poongsan Corp. (A) | &nbsp;&nbsp;2423 | &nbsp;&nbsp;&nbsp;&nbsp;64757 |
| Poongsan Holdings Corp. (A) | &nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp;25297 |
| POSCO Holdings, Inc. | &nbsp;&nbsp;6186 | 1353818 |
| Posco International Corp. (A) | &nbsp;&nbsp;4844 | &nbsp;&nbsp;&nbsp;&nbsp;86942 |
| Protec Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;10067 |
| RFTech Company, Ltd. (A) | &nbsp;&nbsp;4033 | &nbsp;&nbsp;&nbsp;&nbsp;17147 |
| Sam Young Electronics Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6911 |
| Samho Development Company, Ltd. (A) | &nbsp;&nbsp;4213 | &nbsp;&nbsp;&nbsp;&nbsp;12777 |
| SAMPYO Cement Company, Ltd. (A) | &nbsp;&nbsp;4134 | &nbsp;&nbsp;&nbsp;&nbsp;10986 |
| Samsung C&T Corp. (A) | &nbsp;&nbsp;3804 | &nbsp;&nbsp;&nbsp;&nbsp;342707 |
| Samsung Card Company, Ltd. (A) | &nbsp;&nbsp;2454 | &nbsp;&nbsp;&nbsp;&nbsp;57420 |
| Samsung Electronics Company, Ltd. | 37990 | 1667504 |
| Samsung Fire & Marine Insurance Company, Ltd. (A) | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;458896 |
| Samsung Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;4666 | &nbsp;&nbsp;&nbsp;&nbsp;262020 |
| Samsung Securities Company, Ltd. (A) | &nbsp;&nbsp;4810 | &nbsp;&nbsp;&nbsp;&nbsp;120048 |
| Samyang Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7913 |
| Samyang Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;29148 |
| Sangsangin Company, Ltd. | &nbsp;&nbsp;3653 | &nbsp;&nbsp;&nbsp;&nbsp;17762 |
| Seah Besteel Holdings Corp. (A) | &nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp;13155 |
| Sebang Company, Ltd. (A) | &nbsp;&nbsp;1153 | &nbsp;&nbsp;&nbsp;&nbsp;27206 |
| Sebang Global Battery Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;20234 |
| Sejong Industrial Company, Ltd. (A) | &nbsp;&nbsp;1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6746 |
| Sejong Telecom, Inc. | 19734 | &nbsp;&nbsp;&nbsp;&nbsp;10110 |
| Seohee Construction Company, Ltd. | 13592 | &nbsp;&nbsp;&nbsp;&nbsp;12197 |
| Seoul Semiconductor Company, Ltd. (A) | &nbsp;&nbsp;3322 | &nbsp;&nbsp;&nbsp;&nbsp;26633 |
| Seoyon Company, Ltd. (A) | &nbsp;&nbsp;2508 | &nbsp;&nbsp;&nbsp;&nbsp;13785 |
| SGC Energy Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;18270 |
| SGC eTec E&C Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5227 |
| Shindaeyang Paper Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp;18197 |
| Shinhan Financial Group Company, Ltd. | &nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;69432 |
| Shinhan Financial Group Company, Ltd., ADR | 32928 | &nbsp;&nbsp;&nbsp;&nbsp;919679 |
| Shinsegae Engineering & Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175 |
| Shinsegae Food Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;10215 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| Shinsegae, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;668 | $&nbsp;&nbsp;&nbsp;&nbsp;116785 |
| Shinyoung Securities Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26184 |
| SIMMTECH HOLDINGS Company, Ltd. | &nbsp;&nbsp;&nbsp;3917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8834 |
| SK Chemicals Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16725 |
| SK Discovery Company, Ltd. | &nbsp;&nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35817 |
| SK Gas, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27894 |
| SK Hynix, Inc. | &nbsp;&nbsp;43190 | &nbsp;&nbsp;&nbsp;2576890 |
| SK Innovation Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;4401 | &nbsp;&nbsp;&nbsp;&nbsp;537656 |
| SK Networks Company, Ltd. (A) | &nbsp;&nbsp;16268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50055 |
| SK Securities Company, Ltd. (A) | &nbsp;&nbsp;27076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13234 |
| SK, Inc. | &nbsp;&nbsp;&nbsp;2806 | &nbsp;&nbsp;&nbsp;&nbsp;420933 |
| SNT Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18185 |
| SNT Motiv Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29329 |
| Songwon Industrial Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21107 |
| Spigen Korea Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13752 |
| Sungshin Cement Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15304 |
| Sungwoo Hitech Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11086 |
| Sunjin Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16794 |
| Taekwang Industrial Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28340 |
| Taeyoung Engineering & Construction Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7146 |
| Tongyang Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;7644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29377 |
| Toptec Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13096 |
| Tovis Company, Ltd. | &nbsp;&nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 |
| TS Corp. (A) | &nbsp;&nbsp;12730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25819 |
| TY Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17965 |
| Uju Electronics Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7236 |
| Unid Btplus Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4232 |
| Unid Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26188 |
| Uniquest Corp. (A) | &nbsp;&nbsp;&nbsp;1636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10711 |
| WiSoL Company, Ltd. | &nbsp;&nbsp;&nbsp;2256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11960 |
| Wonik Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;5948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16040 |
| Wonik Materials Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19838 |
| Woori Financial Group, Inc. | &nbsp;&nbsp;41842 | &nbsp;&nbsp;&nbsp;&nbsp;382241 |
| Young Poong Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24460 |
| Youngone Corp. (A) | &nbsp;&nbsp;&nbsp;2509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93644 |
| Youngone Holdings Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44682 |
| Yuanta Securities Korea Company, Ltd. (A) | &nbsp;&nbsp;11703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22260 |
|  |  | 24508221 |
| **Taiwan - 15.8%** |  |  |
| Abico Avy Company, Ltd. (A) | &nbsp;&nbsp;24990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16573 |
| AcBel Polytech, Inc. | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36791 |
| Acer, Inc. | 256452 | &nbsp;&nbsp;&nbsp;&nbsp;195810 |
| ACES Electronic Company, Ltd. | &nbsp;&nbsp;19323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20007 |
| Acter Group Corp., Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26374 |
| Advanced International Multitech Company, Ltd. | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40087 |
| AGV Products Corp. | &nbsp;&nbsp;11716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4070 |
| Altek Corp. | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17146 |
| AmTRAN Technology Company, Ltd. | &nbsp;&nbsp;52255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16962 |
| Apacer Technology, Inc. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14810 |
| APCB, Inc. | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19729 |
| Apex International Company, Ltd. | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12116 |
| Arcadyan Technology Corp. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24836 |
| Ardentec Corp. | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72462 |
| Argosy Research, Inc. | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18169 |
| ASE Technology Holding Company, Ltd. | 256000 | &nbsp;&nbsp;&nbsp;&nbsp;777825 |
| Asia Cement Corp. | 137805 | &nbsp;&nbsp;&nbsp;&nbsp;183556 |
| Asia Optical Company, Inc. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27487 |
| Asia Polymer Corp. | &nbsp;&nbsp;50607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46268 |
| Asia Tech Image, Inc. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22222 |
| Asustek Computer, Inc. | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;505597 |
| Audix Corp. | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34966 |
| AUO Corp. | 411200 | &nbsp;&nbsp;&nbsp;&nbsp;199759 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| AVerMedia Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | $&nbsp;&nbsp;&nbsp;&nbsp;13644 |
| Bank of Kaohsiung Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;82204 | &nbsp;&nbsp;&nbsp;&nbsp;33270 |
| Basso Industry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;10652 |
| BenQ Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;13438 |
| BES Engineering Corp. | &nbsp;&nbsp;163700 | &nbsp;&nbsp;&nbsp;&nbsp;43310 |
| Bizlink Holding, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;15357 |
| Brighton-Best International Taiwan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;23408 |
| Capital Securities Corp. | &nbsp;&nbsp;183403 | &nbsp;&nbsp;&nbsp;&nbsp;64570 |
| Career Technology MFG. Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;34200 | &nbsp;&nbsp;&nbsp;&nbsp;26170 |
| Catcher Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;236152 |
| Cathay Financial Holding Company, Ltd. | &nbsp;&nbsp;693775 | &nbsp;&nbsp;&nbsp;&nbsp;900830 |
| Cathay Real Estate Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;46400 | &nbsp;&nbsp;&nbsp;&nbsp;23019 |
| Celxpert Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;12866 |
| Central Reinsurance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40464 | &nbsp;&nbsp;&nbsp;&nbsp;22368 |
| Chang Hwa Commercial Bank, Ltd. | &nbsp;&nbsp;296580 | &nbsp;&nbsp;&nbsp;&nbsp;165249 |
| Channel Well Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;14652 |
| CHC Healthcare Group | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;29737 |
| Chen Full International Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;18409 |
| Chenbro Micom Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;23492 |
| Cheng Loong Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68320 | &nbsp;&nbsp;&nbsp;&nbsp;60715 |
| Cheng Mei Materials Technology Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;14716 |
| Cheng Shin Rubber Industry Company, Ltd. | &nbsp;&nbsp;132000 | &nbsp;&nbsp;&nbsp;&nbsp;145282 |
| Cheng Uei Precision Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37629 | &nbsp;&nbsp;&nbsp;&nbsp;45102 |
| Chia Hsin Cement Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8476 |
| Chicony Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;78418 |
| China Airlines, Ltd. | &nbsp;&nbsp;264910 | &nbsp;&nbsp;&nbsp;&nbsp;163139 |
| China Bills Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;44813 |
| China Chemical & Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;36750 |
| China Development Financial Holding Corp. | 1167535 | &nbsp;&nbsp;&nbsp;&nbsp;477795 |
| China Man-Made Fiber Corp. (A) | &nbsp;&nbsp;178414 | &nbsp;&nbsp;&nbsp;&nbsp;49914 |
| China Metal Products Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42513 | &nbsp;&nbsp;&nbsp;&nbsp;39648 |
| China Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30250 | &nbsp;&nbsp;&nbsp;&nbsp;50632 |
| China Petrochemical Development Corp. | &nbsp;&nbsp;309245 | &nbsp;&nbsp;&nbsp;&nbsp;99124 |
| China Steel Corp. | 1045180 | 1012766 |
| Chin-Poon Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43571 | &nbsp;&nbsp;&nbsp;&nbsp;40668 |
| Chipbond Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;130506 |
| ChipMOS Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66938 | &nbsp;&nbsp;&nbsp;&nbsp;72775 |
| Chong Hong Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;45591 |
| Chun Yuan Steel Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;50874 | &nbsp;&nbsp;&nbsp;&nbsp;26338 |
| Chung-Hsin Electric & Machinery Manufacturing Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46500 | &nbsp;&nbsp;&nbsp;&nbsp;101469 |
| CMC Magnetics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;68121 | &nbsp;&nbsp;&nbsp;&nbsp;16003 |
| Compal Electronics, Inc. | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;243431 |
| Compeq Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;111085 |
| Concord Securities Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8182 |
| Continental Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49050 | &nbsp;&nbsp;&nbsp;&nbsp;44606 |
| Coretronic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;73897 |
| Co-Tech Development Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4874 |
| CTBC Financial Holding Company, Ltd. | 1395348 | 1001280 |
| DA CIN Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19599 |
| Da-Li Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;16359 |
| Darfon Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;19612 |
| Darwin Precisions Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;10577 |
| Depo Auto Parts Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;27929 |
| D-Link Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;24351 |
| Dyaco International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6606 |
| Dynamic Holding Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35584 | &nbsp;&nbsp;&nbsp;&nbsp;18723 |
| Dynapack International Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;23737 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| E.Sun Financial Holding Company, Ltd. | &nbsp;&nbsp;47825 | $&nbsp;&nbsp;&nbsp;&nbsp;37345 |
| Edom Technology Company, Ltd. | &nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;16053 |
| Elite Advanced Laser Corp. | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8351 |
| Elite Semiconductor Microelectronics Technology, Inc. | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;56805 |
| Elitegroup Computer Systems Company, Ltd. (A) | &nbsp;&nbsp;42104 | &nbsp;&nbsp;&nbsp;&nbsp;28168 |
| Ennostar, Inc. | &nbsp;&nbsp;31656 | &nbsp;&nbsp;&nbsp;&nbsp;45920 |
| EnTie Commercial Bank Company, Ltd. | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;27817 |
| Eternal Materials Company, Ltd. | &nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;11552 |
| Eva Airways Corp. | 218725 | &nbsp;&nbsp;&nbsp;&nbsp;199464 |
| Everest Textile Company, Ltd. (A) | &nbsp;&nbsp;64835 | &nbsp;&nbsp;&nbsp;&nbsp;14947 |
| Evergreen International Storage & Transport Corp. | &nbsp;&nbsp;44600 | &nbsp;&nbsp;&nbsp;&nbsp;40168 |
| Evergreen Marine Corp. Taiwan, Ltd. | &nbsp;&nbsp;62662 | &nbsp;&nbsp;&nbsp;&nbsp;331182 |
| Everlight Chemical Industrial Corp. | &nbsp;&nbsp;49250 | &nbsp;&nbsp;&nbsp;&nbsp;29573 |
| Everlight Electronics Company, Ltd. | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;55222 |
| Excelsior Medical Company, Ltd. | &nbsp;&nbsp;17401 | &nbsp;&nbsp;&nbsp;&nbsp;38248 |
| Far Eastern Department Stores, Ltd. | &nbsp;&nbsp;77720 | &nbsp;&nbsp;&nbsp;&nbsp;54375 |
| Far Eastern International Bank | 253756 | &nbsp;&nbsp;&nbsp;&nbsp;90644 |
| Far Eastern New Century Corp. | 252249 | &nbsp;&nbsp;&nbsp;&nbsp;261405 |
| Farglory Land Development Company, Ltd. | &nbsp;&nbsp;28530 | &nbsp;&nbsp;&nbsp;&nbsp;52718 |
| Feng Hsin Steel Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;16529 |
| First Financial Holding Company, Ltd. | 625314 | &nbsp;&nbsp;&nbsp;&nbsp;538593 |
| First Steamship Company, Ltd. (A) | &nbsp;&nbsp;84809 | &nbsp;&nbsp;&nbsp;&nbsp;24090 |
| Fitipower Integrated Technology, Inc. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;29933 |
| Fittech Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;25683 |
| FLEXium Interconnect, Inc. (A) | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;85747 |
| Formosa Advanced Technologies Company, Ltd. | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;31136 |
| Formosa Chemicals & Fibre Corp. | 184000 | &nbsp;&nbsp;&nbsp;&nbsp;421418 |
| Formosa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;9543 | &nbsp;&nbsp;&nbsp;&nbsp;22806 |
| Formosa Petrochemical Corp. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;10441 |
| Formosa Plastics Corp. | 188000 | &nbsp;&nbsp;&nbsp;&nbsp;530164 |
| Formosa Taffeta Company, Ltd. | &nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp;58261 |
| Formosan Rubber Group, Inc. | &nbsp;&nbsp;33020 | &nbsp;&nbsp;&nbsp;&nbsp;23333 |
| Formosan Union Chemical | &nbsp;&nbsp;48812 | &nbsp;&nbsp;&nbsp;&nbsp;35246 |
| Foxconn Technology Company, Ltd. | &nbsp;&nbsp;64626 | &nbsp;&nbsp;&nbsp;&nbsp;108887 |
| FSP Technology, Inc. | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;12362 |
| Fubon Financial Holding Company, Ltd. | 624805 | 1142787 |
| Fulgent Sun International Holding Company, Ltd. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;54222 |
| Fulltech Fiber Glass Corp. | &nbsp;&nbsp;46349 | &nbsp;&nbsp;&nbsp;&nbsp;17549 |
| G Shank Enterprise Company, Ltd. | &nbsp;&nbsp;15535 | &nbsp;&nbsp;&nbsp;&nbsp;22566 |
| Gamania Digital Entertainment Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;20445 |
| Gemtek Technology Corp. | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;28407 |
| General Interface Solution Holding, Ltd. | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;82853 |
| Getac Holdings Corp. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;20064 |
| Giantplus Technology Company, Ltd. (A) | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;12270 |
| Gigabyte Technology Company, Ltd. | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;106993 |
| Global Brands Manufacture, Ltd. | &nbsp;&nbsp;37541 | &nbsp;&nbsp;&nbsp;&nbsp;33548 |
| Global Lighting Technologies, Inc. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;10701 |
| Global PMX Company, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;14494 |
| Globe Union Industrial Corp. (A) | &nbsp;&nbsp;51750 | &nbsp;&nbsp;&nbsp;&nbsp;22297 |
| Gloria Material Technology Corp. | &nbsp;&nbsp;39684 | &nbsp;&nbsp;&nbsp;&nbsp;47927 |
| Goldsun Building Materials Company, Ltd. | &nbsp;&nbsp;93540 | &nbsp;&nbsp;&nbsp;&nbsp;76680 |
| Gourmet Master Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;29518 |
| Grand Pacific Petrochemical | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;47134 |
| Great China Metal Industry | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;26122 |
| Great Wall Enterprise Company, Ltd. | &nbsp;&nbsp;15724 | &nbsp;&nbsp;&nbsp;&nbsp;23291 |
| Greatek Electronics, Inc. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;18686 |
| Hannstar Board Corp. | &nbsp;&nbsp;39750 | &nbsp;&nbsp;&nbsp;&nbsp;40803 |
| HannStar Display Corp. | 112842 | &nbsp;&nbsp;&nbsp;&nbsp;40860 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| HannsTouch Solution, Inc. | &nbsp;&nbsp;64000 | $&nbsp;&nbsp;&nbsp;&nbsp;18878 |
| Hey Song Corp. | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;42450 |
| Highwealth Construction Corp. | &nbsp;&nbsp;49507 | &nbsp;&nbsp;&nbsp;&nbsp;64840 |
| Ho Tung Chemical Corp. | &nbsp;&nbsp;88399 | &nbsp;&nbsp;&nbsp;&nbsp;25119 |
| Holy Stone Enterprise Company, Ltd. | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;29557 |
| Hon Hai Precision Industry Company, Ltd. | 658448 | 2134183 |
| Hong Pu Real Estate Development Company, Ltd. (A) | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;19744 |
| Hong TAI Electric Industrial | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;10542 |
| Horizon Securities Company, Ltd. | &nbsp;&nbsp;19080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5437 |
| Hsin Kuang Steel Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;12529 |
| Hsing TA Cement Company, Ltd. | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;19325 |
| Hua Nan Financial Holdings Company, Ltd. | 476096 | &nbsp;&nbsp;&nbsp;&nbsp;347388 |
| Hung Ching Development & Construction Company, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9415 |
| Hung Sheng Construction, Ltd. | &nbsp;&nbsp;42240 | &nbsp;&nbsp;&nbsp;&nbsp;31107 |
| IBF Financial Holdings Company, Ltd. | 268707 | &nbsp;&nbsp;&nbsp;&nbsp;98583 |
| Ichia Technologies, Inc. | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;14767 |
| IEI Integration Corp. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;27564 |
| Innolux Corp. | 595092 | &nbsp;&nbsp;&nbsp;&nbsp;213899 |
| Inpaq Technology Company, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;20184 |
| Integrated Service Technology, Inc. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;20503 |
| International CSRC Investment Holdings Company | &nbsp;&nbsp;81383 | &nbsp;&nbsp;&nbsp;&nbsp;51421 |
| Inventec Corp. | 158000 | &nbsp;&nbsp;&nbsp;&nbsp;134843 |
| Iron Force Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;14152 |
| ITEQ Corp. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;25866 |
| Jarllytec Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;17716 |
| Jess-Link Products Company, Ltd. | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;16904 |
| Kaimei Electronic Corp. | &nbsp;&nbsp;10640 | &nbsp;&nbsp;&nbsp;&nbsp;18451 |
| Kedge Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;11034 |
| Kenda Rubber Industrial Company, Ltd. | &nbsp;&nbsp;39520 | &nbsp;&nbsp;&nbsp;&nbsp;38934 |
| Kindom Development Company, Ltd. | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;22744 |
| King Yuan Electronics Company, Ltd. | 122796 | &nbsp;&nbsp;&nbsp;&nbsp;144211 |
| King's Town Bank Company, Ltd. | &nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;91480 |
| King's Town Construction Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7632 |
| Kinko Optical Company, Ltd. (A) | &nbsp;&nbsp;15758 | &nbsp;&nbsp;&nbsp;&nbsp;12464 |
| Kinpo Electronics, Inc. | 108269 | &nbsp;&nbsp;&nbsp;&nbsp;47413 |
| Kinsus Interconnect Technology Corp. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;74383 |
| KS Terminals, Inc. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;20509 |
| Kuo Toong International Company, Ltd. | &nbsp;&nbsp;18248 | &nbsp;&nbsp;&nbsp;&nbsp;12634 |
| Kuo Yang Construction Company, Ltd. (A) | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6999 |
| L&K Engineering Company, Ltd. | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;20756 |
| Largan Precision Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;396597 |
| Lealea Enterprise Company, Ltd. | &nbsp;&nbsp;90124 | &nbsp;&nbsp;&nbsp;&nbsp;29871 |
| Lelon Electronics Corp. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;13914 |
| Li Peng Enterprise Company, Ltd. (A) | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;15439 |
| Lida Holdings, Ltd. | &nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4507 |
| Lien Hwa Industrial Holdings Corp. | &nbsp;&nbsp;45045 | &nbsp;&nbsp;&nbsp;&nbsp;73321 |
| Lingsen Precision Industries, Ltd. | &nbsp;&nbsp;49481 | &nbsp;&nbsp;&nbsp;&nbsp;20760 |
| Lite-On Technology Corp. | 164000 | &nbsp;&nbsp;&nbsp;&nbsp;338933 |
| Longchen Paper & Packaging Company, Ltd. | &nbsp;&nbsp;66189 | &nbsp;&nbsp;&nbsp;&nbsp;35142 |
| Lumax International Corp., Ltd. | &nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8069 |
| Lung Yen Life Service Corp. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;11428 |
| Macauto Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;16937 |
| Macronix International Company, Ltd. | 129000 | &nbsp;&nbsp;&nbsp;&nbsp;141247 |
| Mega Financial Holding Company, Ltd. | 451158 | &nbsp;&nbsp;&nbsp;&nbsp;444448 |
| Mercuries & Associates Holding, Ltd. | &nbsp;&nbsp;48293 | &nbsp;&nbsp;&nbsp;&nbsp;23778 |
| Mercuries Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;79459 | &nbsp;&nbsp;&nbsp;&nbsp;14289 |
| Mitac Holdings Corp. | &nbsp;&nbsp;58316 | &nbsp;&nbsp;&nbsp;&nbsp;55845 |
| MOSA Industrial Corp. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| MPI Corp. | &nbsp;&nbsp;11000 | $&nbsp;&nbsp;&nbsp;40123 |
| Namchow Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;13319 |
| Nan Ya Plastics Corp. | 334000 | 770275 |
| Nantex Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;10822 |
| Nanya Technology Corp. | 106000 | 176030 |
| Nichidenbo Corp. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;23911 |
| Nishoku Technology, Inc. | &nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;23132 |
| O-Bank Company, Ltd. | &nbsp;&nbsp;52538 | &nbsp;&nbsp;&nbsp;14322 |
| Orient Semiconductor Electronics, Ltd. | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;14801 |
| Oriental Union Chemical Corp. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;16915 |
| Pacific Construction Company | &nbsp;&nbsp;38289 | &nbsp;&nbsp;&nbsp;11299 |
| Paiho Shih Holdings Corp. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;9484 |
| Pan-International Industrial Corp. | &nbsp;&nbsp;44481 | &nbsp;&nbsp;&nbsp;53787 |
| PChome Online, Inc. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;10364 |
| Pegatron Corp. | 162660 | 335617 |
| Phison Electronics Corp. | &nbsp;&nbsp;12000 | 122544 |
| Pixart Imaging, Inc. | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;31301 |
| Pou Chen Corp. | 137348 | 152662 |
| Powerchip Semiconductor Manufacturing Corp. | 207000 | 213548 |
| Powertech Technology, Inc. | &nbsp;&nbsp;39000 | 100145 |
| President Securities Corp. | &nbsp;&nbsp;99549 | &nbsp;&nbsp;&nbsp;50583 |
| Primax Electronics, Ltd. | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;46850 |
| Prince Housing & Development Corp. | 142555 | &nbsp;&nbsp;&nbsp;48687 |
| Prodisc Technology, Inc. (A)(C) | 762000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Promate Electronic Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;9860 |
| Prosperity Dielectrics Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;6643 |
| Qisda Corp. | 134280 | 122669 |
| Quanta Computer, Inc. | 201000 | 471373 |
| Quanta Storage, Inc. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;30006 |
| Radiant Opto-Electronics Corp. | &nbsp;&nbsp;34000 | 115802 |
| Radium Life Tech Company, Ltd. | 102621 | &nbsp;&nbsp;&nbsp;30421 |
| Rechi Precision Company, Ltd. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;10450 |
| Rexon Industrial Corp, Ltd. | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;12598 |
| Ritek Corp. (A) | &nbsp;&nbsp;57799 | &nbsp;&nbsp;&nbsp;14257 |
| Roo Hsing Company, Ltd. (A)(C) | &nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp;6365 |
| Ruentex Development Company, Ltd. | &nbsp;&nbsp;32320 | &nbsp;&nbsp;&nbsp;45469 |
| Ruentex Industries, Ltd. | &nbsp;&nbsp;39424 | &nbsp;&nbsp;&nbsp;83170 |
| Sampo Corp. | &nbsp;&nbsp;43470 | &nbsp;&nbsp;&nbsp;37420 |
| San Far Property, Ltd. | &nbsp;&nbsp;28964 | &nbsp;&nbsp;&nbsp;11486 |
| Sanyang Motor Company, Ltd. | &nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;52774 |
| Sercomm Corp. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;54402 |
| Sesoda Corp. | &nbsp;&nbsp;13064 | &nbsp;&nbsp;&nbsp;17003 |
| Shan-Loong Transportation Company, Ltd. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;23866 |
| Sheng Yu Steel Company, Ltd. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;17516 |
| ShenMao Technology, Inc. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;10287 |
| Shih Wei Navigation Company, Ltd. | &nbsp;&nbsp;26332 | &nbsp;&nbsp;&nbsp;21401 |
| Shihlin Electric & Engineering Corp. | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;41245 |
| Shin Kong Financial Holding Company, Ltd. | 870344 | 248094 |
| Shin Zu Shing Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;21193 |
| Shining Building Business Company, Ltd. (A) | &nbsp;&nbsp;55118 | &nbsp;&nbsp;&nbsp;16706 |
| Shinkong Insurance Company, Ltd. | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;42920 |
| Shinkong Synthetic Fibers Corp. | 132239 | &nbsp;&nbsp;&nbsp;75460 |
| Shuttle, Inc. (A) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;9392 |
| Sigurd Microelectronics Corp. | &nbsp;&nbsp;47773 | &nbsp;&nbsp;&nbsp;75313 |
| Simplo Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;74060 |
| Sincere Navigation Corp. | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;15553 |
| Sinher Technology, Inc. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;9552 |
| Sinon Corp. | &nbsp;&nbsp;25650 | &nbsp;&nbsp;&nbsp;30369 |
| SinoPac Financial Holdings Company, Ltd. | 671000 | 364990 |
| Sirtec International Company, Ltd. | &nbsp;&nbsp;23800 | &nbsp;&nbsp;&nbsp;15995 |
| Siward Crystal Technology Company, Ltd. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;21913 |
| Soft-World International Corp. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;10373 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| Sunonwealth Electric Machine Industry Company, Ltd. | &nbsp;&nbsp;18000 | $&nbsp;&nbsp;&nbsp;24935 |
| Sunrex Technology Corp. | &nbsp;&nbsp;11678 | &nbsp;&nbsp;&nbsp;14402 |
| Supreme Electronics Company, Ltd. | &nbsp;&nbsp;13268 | &nbsp;&nbsp;&nbsp;15440 |
| Syncmold Enterprise Corp. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;11513 |
| SYNergy ScienTech Corp. (A) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;7102 |
| Synnex Technology International Corp. | &nbsp;&nbsp;87000 | 167159 |
| Systex Corp. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;13550 |
| TA Chen Stainless Pipe | 100483 | 138364 |
| Ta Ya Electric Wire & Cable | &nbsp;&nbsp;62422 | &nbsp;&nbsp;&nbsp;41097 |
| TA-I Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;11008 |
| Taichung Commercial Bank Company, Ltd. | 267982 | 111447 |
| TaiDoc Technology Corp. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;24043 |
| Taiflex Scientific Company, Ltd. | &nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;32214 |
| Tainan Spinning Company, Ltd. | 135638 | &nbsp;&nbsp;&nbsp;73949 |
| Taishin Financial Holding Company, Ltd. | 748047 | 366912 |
| Taita Chemical Company, Ltd. | &nbsp;&nbsp;27818 | &nbsp;&nbsp;&nbsp;20230 |
| TAI-TECH Advanced Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;13145 |
| Taiwan Business Bank | 413545 | 173826 |
| Taiwan Cement Corp. | 363325 | 397175 |
| Taiwan Chinsan Electronic Industrial Company, Ltd. | &nbsp;&nbsp;14852 | &nbsp;&nbsp;&nbsp;17093 |
| Taiwan Cooperative Financial Holding Company, Ltd. | 493307 | 416808 |
| Taiwan Fertilizer Company, Ltd. | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;90437 |
| Taiwan Fire & Marine Insurance Company, Ltd. | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;27279 |
| Taiwan FU Hsing Industrial Company, Ltd. | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;28002 |
| Taiwan Glass Industry Corp. | &nbsp;&nbsp;80319 | &nbsp;&nbsp;&nbsp;55429 |
| Taiwan Hon Chuan Enterprise Company, Ltd. | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;81889 |
| Taiwan Kolin Company, Ltd. (A)(C) | 327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Taiwan Navigation Company, Ltd. | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;16606 |
| Taiwan Paiho, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;25819 |
| Taiwan PCB Techvest Company, Ltd. | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;42375 |
| Taiwan Shin Kong Security Company, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;10174 |
| Taiwan Styrene Monomer | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;16670 |
| Taiwan Surface Mounting Technology Corp. | &nbsp;&nbsp;26225 | &nbsp;&nbsp;&nbsp;75536 |
| Taiwan Union Technology Corp. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;23362 |
| Taiyen Biotech Company, Ltd. | &nbsp;&nbsp;26137 | &nbsp;&nbsp;&nbsp;27580 |
| Tatung Company, Ltd. (A) | &nbsp;&nbsp;94000 | 105307 |
| TBI Motion Technology Company, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;14217 |
| TCI Company, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;16646 |
| Teco Electric & Machinery Company, Ltd. | 109000 | &nbsp;&nbsp;&nbsp;97514 |
| Test Research, Inc. | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;26853 |
| The Ambassador Hotel (A) | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;30753 |
| The Shanghai Commercial & Savings Bank, Ltd. | 143823 | 206020 |
| Thinking Electronic Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;16101 |
| Thye Ming Industrial Company, Ltd. | &nbsp;&nbsp;24800 | &nbsp;&nbsp;&nbsp;30428 |
| Ton Yi Industrial Corp. | &nbsp;&nbsp;97000 | &nbsp;&nbsp;&nbsp;53733 |
| Tong Hsing Electronic Industries, Ltd. | &nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;44509 |
| Tong Yang Industry Company, Ltd. | &nbsp;&nbsp;40627 | &nbsp;&nbsp;&nbsp;56706 |
| Tong-Tai Machine & Tool Company, Ltd. | &nbsp;&nbsp;26588 | &nbsp;&nbsp;&nbsp;12053 |
| TOPBI International Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;8077 | &nbsp;&nbsp;&nbsp;&nbsp;4492 |
| Topkey Corp. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;35660 |
| Topoint Technology Company, Ltd. | &nbsp;&nbsp;29190 | &nbsp;&nbsp;&nbsp;29119 |
| TPK Holding Company, Ltd. | &nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;39211 |
| Transcend Information, Inc. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;19299 |
| Tripod Technology Corp. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;61024 |
| Tsann Kuen Enterprise Company, Ltd. | &nbsp;&nbsp;&nbsp;4911 | &nbsp;&nbsp;&nbsp;&nbsp;7061 |
| TSRC Corp. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;24610 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| Tung Ho Steel Enterprise Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61640 | $&nbsp;&nbsp;&nbsp;&nbsp;105551 |
| TURVO International Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13103 |
| TXC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72382 |
| TYC Brother Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13986 |
| Tycoons Group Enterprise (A) | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10275 |
| Tyntek Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19391 |
| U-Ming Marine Transport Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59907 |
| Union Bank of Taiwan | &nbsp;&nbsp;147539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76816 |
| Unitech Printed Circuit Board Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;78985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44189 |
| United Microelectronics Corp. (A) | &nbsp;&nbsp;790794 | &nbsp;&nbsp;&nbsp;1039012 |
| Universal Cement Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19826 |
| Unizyx Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34646 |
| UPC Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39597 |
| USI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58115 |
| Wah Lee Industrial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55749 |
| Walsin Lihwa Corp. | &nbsp;&nbsp;192589 | &nbsp;&nbsp;&nbsp;&nbsp;295505 |
| Walsin Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63942 |
| Walton Advanced Engineering, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14578 |
| Wan Hai Lines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58800 | &nbsp;&nbsp;&nbsp;&nbsp;152825 |
| Wei Chuan Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20427 |
| Weikeng Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21353 |
| Well Shin Technology Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24110 |
| Winbond Electronics Corp. | &nbsp;&nbsp;316793 | &nbsp;&nbsp;&nbsp;&nbsp;201174 |
| Wintek Corp. (A)(C) | &nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Wisdom Marine Lines Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72377 |
| Wistron Corp. | &nbsp;&nbsp;270291 | &nbsp;&nbsp;&nbsp;&nbsp;258144 |
| WPG Holdings, Ltd. | &nbsp;&nbsp;149400 | &nbsp;&nbsp;&nbsp;&nbsp;233294 |
| WT Microelectronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89674 |
| Xxentria Technology Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15380 |
| Yageo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18946 | &nbsp;&nbsp;&nbsp;&nbsp;276131 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;322884 |
| YC INOX Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37699 |
| Yea Shin International Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16393 |
| Yem Chio Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19983 |
| Yeong Guan Energy Technology Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25060 |
| YFY, Inc. | &nbsp;&nbsp;132202 | &nbsp;&nbsp;&nbsp;&nbsp;104985 |
| Yieh Phui Enterprise Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37535 |
| Youngtek Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31516 |
| Yuanta Financial Holding Company, Ltd. | &nbsp;&nbsp;708532 | &nbsp;&nbsp;&nbsp;&nbsp;499324 |
| Yulon Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;56470 | &nbsp;&nbsp;&nbsp;&nbsp;113699 |
| YungShin Global Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11970 |
| Zeng Hsing Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16618 |
| Zenitron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26325 |
| Zhen Ding Technology Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;149671 |
| Zig Sheng Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;38908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13068 |
|  |  | 32303653 |
| **Thailand - 2.3%** |  |  |
| AAPICO Hitech PCL | &nbsp;&nbsp;&nbsp;&nbsp;35352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30364 |
| AP Thailand PCL | &nbsp;&nbsp;223670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74853 |
| Bangchak Corp. PCL | &nbsp;&nbsp;&nbsp;&nbsp;91600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83187 |
| Bangkok Bank PCL | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;183554 |
| Bangkok Bank PCL, NVDR | &nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61896 |
| Bangkok Insurance PCL | &nbsp;&nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24571 |
| Bangkok Land PCL | 1059200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31801 |
| Bangkok Life Assurance PCL, NVDR | &nbsp;&nbsp;&nbsp;&nbsp;18200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15121 |
| Bangkok Ranch PCL (A) | &nbsp;&nbsp;&nbsp;&nbsp;92300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7833 |
| Banpu PCL | &nbsp;&nbsp;535067 | &nbsp;&nbsp;&nbsp;&nbsp;211509 |
| Berli Jucker PCL | &nbsp;&nbsp;&nbsp;&nbsp;86900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88451 |
| Cal-Comp Electronics Thailand PCL | &nbsp;&nbsp;134116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8991 |
| Charoen Pokphand Foods PCL | &nbsp;&nbsp;377100 | &nbsp;&nbsp;&nbsp;&nbsp;269614 |
| Esso Thailand PCL | &nbsp;&nbsp;&nbsp;&nbsp;83900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30520 |
| GFPT PCL | &nbsp;&nbsp;&nbsp;&nbsp;43900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16233 |
| Indorama Ventures PCL | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;152633 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thailand (continued)** |  |  |
| IRPC PCL | &nbsp;&nbsp;943100 | $&nbsp;&nbsp;&nbsp;&nbsp;82142 |
| Italian-Thai Development PCL (A) | &nbsp;&nbsp;477400 | &nbsp;&nbsp;&nbsp;&nbsp;26313 |
| Kasikornbank PCL, NVDR | &nbsp;&nbsp;&nbsp;&nbsp;34100 | &nbsp;&nbsp;&nbsp;&nbsp;144968 |
| Khon Kaen Sugar Industry PCL | &nbsp;&nbsp;192600 | &nbsp;&nbsp;&nbsp;&nbsp;20584 |
| Kiatnakin Phatra Bank PCL | &nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp;41270 |
| Krung Thai Bank PCL | &nbsp;&nbsp;207700 | &nbsp;&nbsp;&nbsp;&nbsp;105994 |
| LPN Development PCL | &nbsp;&nbsp;&nbsp;&nbsp;52900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7056 |
| Millcon Steel PCL | &nbsp;&nbsp;167887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 |
| Polyplex Thailand PCL | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;10201 |
| Precious Shipping PCL | &nbsp;&nbsp;&nbsp;&nbsp;66500 | &nbsp;&nbsp;&nbsp;&nbsp;30844 |
| Pruksa Holding PCL | &nbsp;&nbsp;&nbsp;&nbsp;78800 | &nbsp;&nbsp;&nbsp;&nbsp;29968 |
| PTT Exploration & Production PCL | &nbsp;&nbsp;&nbsp;&nbsp;86800 | &nbsp;&nbsp;&nbsp;&nbsp;442039 |
| PTT Global Chemical PCL | &nbsp;&nbsp;133900 | &nbsp;&nbsp;&nbsp;&nbsp;182318 |
| PTT PCL | &nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;826205 |
| Quality Houses PCL | &nbsp;&nbsp;377100 | &nbsp;&nbsp;&nbsp;&nbsp;25047 |
| Regional Container Lines PCL | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;26592 |
| Rojana Industrial Park PCL | &nbsp;&nbsp;113100 | &nbsp;&nbsp;&nbsp;&nbsp;20422 |
| Saha-Union PCL | &nbsp;&nbsp;&nbsp;&nbsp;16100 | &nbsp;&nbsp;&nbsp;&nbsp;13586 |
| Sansiri PCL | 1026866 | &nbsp;&nbsp;&nbsp;&nbsp;52123 |
| SC Asset Corp. PCL | &nbsp;&nbsp;238196 | &nbsp;&nbsp;&nbsp;&nbsp;29027 |
| SCB X PCL | &nbsp;&nbsp;&nbsp;&nbsp;42400 | &nbsp;&nbsp;&nbsp;&nbsp;130796 |
| Siam City Cement PCL | &nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;21716 |
| Siamgas & Petrochemicals PCL | &nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;22529 |
| Sino-Thai Engineering & Construction PCL | &nbsp;&nbsp;&nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp;11956 |
| Somboon Advance Technology PCL | &nbsp;&nbsp;&nbsp;&nbsp;51300 | &nbsp;&nbsp;&nbsp;&nbsp;31094 |
| SPCG PCL | &nbsp;&nbsp;&nbsp;&nbsp;58900 | &nbsp;&nbsp;&nbsp;&nbsp;24632 |
| Sri Trang Agro-Industry PCL | &nbsp;&nbsp;&nbsp;&nbsp;49100 | &nbsp;&nbsp;&nbsp;&nbsp;29902 |
| Srithai Superware PCL | &nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp;12986 |
| Star Petroleum Refining PCL | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;30827 |
| STP & I PCL (A) | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2592 |
| Supalai PCL | &nbsp;&nbsp;151900 | &nbsp;&nbsp;&nbsp;&nbsp;106566 |
| Super Energy Corp. PCL | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;14154 |
| Syntec Construction PCL | &nbsp;&nbsp;156500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8039 |
| Thai Oil PCL | &nbsp;&nbsp;&nbsp;&nbsp;92873 | &nbsp;&nbsp;&nbsp;&nbsp;150542 |
| Thai Stanley Electric PCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746 |
| Thai Union Group PCL | &nbsp;&nbsp;225600 | &nbsp;&nbsp;&nbsp;&nbsp;110050 |
| Thanachart Capital PCL | &nbsp;&nbsp;&nbsp;&nbsp;37300 | &nbsp;&nbsp;&nbsp;&nbsp;45780 |
| The Lanna Resources PCL | &nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;&nbsp;22568 |
| The Siam Cement PCL | &nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;331579 |
| Thitikorn PCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |
| Thoresen Thai Agencies PCL | &nbsp;&nbsp;&nbsp;&nbsp;75500 | &nbsp;&nbsp;&nbsp;&nbsp;17841 |
| TMBThanachart Bank PCL | 1347695 | &nbsp;&nbsp;&nbsp;&nbsp;54806 |
| TPI Polene PCL | &nbsp;&nbsp;559900 | &nbsp;&nbsp;&nbsp;&nbsp;29417 |
| TPI Polene Power PCL | &nbsp;&nbsp;283200 | &nbsp;&nbsp;&nbsp;&nbsp;27786 |
| True Corp. PCL | &nbsp;&nbsp;677300 | &nbsp;&nbsp;&nbsp;&nbsp;94598 |
| Univentures PCL | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4388 |
|  |  | 4752524 |
| **Turkey - 1.0%** |  |  |
| Akbank TAS | &nbsp;&nbsp;273631 | &nbsp;&nbsp;&nbsp;&nbsp;285912 |
| Anadolu Efes Biracilik Ve Malt Sanayii AS | &nbsp;&nbsp;&nbsp;&nbsp;14921 | &nbsp;&nbsp;&nbsp;&nbsp;53989 |
| Dogan Sirketler Grubu Holding AS | &nbsp;&nbsp;&nbsp;&nbsp;52374 | &nbsp;&nbsp;&nbsp;&nbsp;29558 |
| Eczacibasi Yatirim Holding Ortakligi AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Enka Insaat ve Sanayi AS | &nbsp;&nbsp;&nbsp;&nbsp;76018 | &nbsp;&nbsp;&nbsp;&nbsp;135308 |
| Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp;&nbsp;&nbsp;76335 | &nbsp;&nbsp;&nbsp;&nbsp;167737 |
| Goldas Kuyumculuk Sanayi Ithalat Ve Bagli Ortakliklari (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;54846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 |
| Gozde Girisim Sermayesi Yatirim Ortakligi AS (A) | &nbsp;&nbsp;&nbsp;&nbsp;28775 | &nbsp;&nbsp;&nbsp;&nbsp;32378 |
| GSD Holding AS | &nbsp;&nbsp;173611 | &nbsp;&nbsp;&nbsp;&nbsp;38831 |
| Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class A | &nbsp;&nbsp;&nbsp;&nbsp;14485 | &nbsp;&nbsp;&nbsp;&nbsp;13997 |
| Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D | &nbsp;&nbsp;&nbsp;&nbsp;25436 | &nbsp;&nbsp;&nbsp;&nbsp;24429 |
| KOC Holding AS | &nbsp;&nbsp;&nbsp;&nbsp;34979 | &nbsp;&nbsp;&nbsp;&nbsp;156928 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Turkey (continued)** |  |  |
| Sekerbank Turk AS (A) | 178589 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29248 |
| TAV Havalimanlari Holding AS (A) | &nbsp;&nbsp;11684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58701 |
| Turk Hava Yollari AO (A) | &nbsp;&nbsp;43966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331192 |
| Turkiye Halk Bankasi AS (A) | &nbsp;&nbsp;56201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39904 |
| Turkiye Is Bankasi AS, Class C | 209300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143270 |
| Turkiye Sinai Kalkinma Bankasi AS (A) | 141027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32934 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp;55383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126655 |
| Turkiye Vakiflar Bankasi TAO, Class D (A) | &nbsp;&nbsp;91535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58008 |
| Uzel Makina Sanayii AS (A)(C) | &nbsp;&nbsp;22930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Vestel Elektronik Sanayi ve Ticaret AS (A) | &nbsp;&nbsp;&nbsp;6172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23469 |
| Yapi ve Kredi Bankasi AS | 254969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1944477 |
| **Ukraine - 0.0%** |  |  |
| Kernel Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 |
| **United Arab Emirates - 1.1%** |  |  |
| Abu Dhabi Commercial Bank PJSC | 193198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472816 |
| Agthia Group PJSC | &nbsp;&nbsp;33488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36324 |
| Air Arabia PJSC | 120041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70217 |
| Ajman Bank PJSC (A) | 110663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35597 |
| Aldar Properties PJSC | 274565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329911 |
| Amanat Holdings PJSC | &nbsp;&nbsp;77820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17953 |
| Amlak Finance PJSC (A) | &nbsp;&nbsp;70121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11824 |
| Dana Gas PJSC | 313959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78519 |
| Deyaar Development PJSC (A) | 187028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25745 |
| Dubai Investments PJSC | 195034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115122 |
| Emaar Development PJSC (A) | &nbsp;&nbsp;95957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115247 |
| Emaar Properties PJSC | 322670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513345 |
| Emirates NBD Bank PJSC | 119740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421741 |
| Eshraq Investments PJSC (A) | 138023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18385 |
| Islamic Arab Insurance Company | &nbsp;&nbsp;58609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8469 |
| RAK Properties PJSC (A) | &nbsp;&nbsp;77735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14408 |
| Ras Al Khaimah Ceramics | &nbsp;&nbsp;24868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19174 |
| SHUAA Capital PSC (A) | &nbsp;&nbsp;76875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8861 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2313658 |
| **United States - 0.0%** |  |  |
| Nexteer Automotive Group, Ltd. | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61936 |
| TOTAL COMMON STOCKS (Cost $222,737,468) | TOTAL COMMON STOCKS (Cost $222,737,468) | $198544241 |
| **PREFERRED SECURITIES - 1.8%** | **PREFERRED SECURITIES - 1.8%** |  |
| **Brazil - 1.8%** |  |  |
| Banco ABC Brasil SA | &nbsp;&nbsp;&nbsp;9841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36677 |
| Banco Bradesco SA | 251187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716508 |
| Banco do Estado do Rio Grande do Sul SA, B Shares | &nbsp;&nbsp;22600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41550 |
| Eucatex SA Industria e Comercio | &nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6742 |
| Gerdau SA | &nbsp;&nbsp;77776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427516 |
| Marcopolo SA | &nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29616 |
| Petroleo Brasileiro SA | 473639 | &nbsp;&nbsp;&nbsp;&nbsp;2197533 |
| Randon SA Implementos e Participacoes | &nbsp;&nbsp;21672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33595 |
| Usinas Siderurgicas de Minas Gerais SA, A Shares | &nbsp;&nbsp;40910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3544596 |
| **Colombia - 0.0%** |  |  |
| Grupo Argos SA | &nbsp;&nbsp;23975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31273 |
| Grupo de Inversiones Suramericana SA | &nbsp;&nbsp;&nbsp;9424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56814 |
| **Philippines - 0.0%** |  |  |
| Cebu Air, Inc., 6.000% | &nbsp;&nbsp;15189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10525 |
| **Taiwan - 0.0%** |  |  |
| China Development Financial Holding Corp. | &nbsp;&nbsp;42273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10644 |
| TOTAL PREFERRED SECURITIES (Cost $4,492,770) | TOTAL PREFERRED SECURITIES (Cost $4,492,770) | $&nbsp;&nbsp;&nbsp;&nbsp;3622579 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Emerging Markets Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **RIGHTS - 0.0%** |  |  |
| Bank Tabungan Negara Persero Tbk PT (Expiration Date: 1-6-23; Strike Price: IDR 1,200.00) (A) | 122413 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124 |
| Hanwha Solutions Corp. (Expiration Date: 1-10-23; Strike Price: KRW 28,350.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 |
| Lotte Chemical Corp. (Expiration Date: 1-23-23; Strike Price: KRW 143,000.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5671 |
| Thai Union Group PCL (Expiration Date: 1-5-23; Strike Price: THB 32.00) (A)(C) | &nbsp;&nbsp;&nbsp;4938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6821 |
| **WARRANTS - 0.0%** |  |  |
| Bangkok Ranch PCL (Expiration Date: 9-1-26; Strike Price: THB 5.00) (A) | &nbsp;&nbsp;46150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 |
| Yinson Holdings BHD (Expiration Date: 6-21-25; Strike Price: MYR 2.29) (A) | &nbsp;&nbsp;&nbsp;9085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 |
| **Total Investments (Emerging Markets Value Trust)<br> (Cost $227,230,238) - 98.8%** | **Total Investments (Emerging Markets Value Trust)<br> (Cost $227,230,238) - 98.8%** | $**202175016** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**2474437** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**204649453** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| IDR | Indonesian Rupiah |
| KRW | Korean Won |
| MYR | Malaysian Ringgit |
| THB | Thai Bhat |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$1112078 | &nbsp;&nbsp;&nbsp;&nbsp;$1103080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(8998) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5364) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(14362)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Equity Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.8%** | **COMMON STOCKS – 96.8%** |  |
| **Communication services – 5.1%** |  |  |
| **Diversified telecommunication services – 0.8%** | **Diversified telecommunication services – 0.8%** |  |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120337 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215404 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8749637 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10965041 |
| **Entertainment – 1.2%** | **Entertainment – 1.2%** |  |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15249699 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15701345 |
| **Interactive media and services – 0.5%** | **Interactive media and services – 0.5%** |  |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6823278 |
| **Media – 2.6%** | **Media – 2.6%** |  |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13131864 |
| Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794153 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21334713 |

---

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| Paramount Global, Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;51500 | $&nbsp;&nbsp;&nbsp;&nbsp;869320 |
|  |  | 36130050 |
|  |  | 69619714 |
| **Consumer discretionary – 4.3%** |  |  |
| **Automobiles – 1.0%** | **Automobiles – 1.0%** |  |
| Volkswagen AG, ADR | 1087319 | 13461009 |
| **Hotels, restaurants and leisure – 1.0%** | **Hotels, restaurants and leisure – 1.0%** |  |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;283762 | 13640439 |
| **Leisure products – 0.6%** | **Leisure products – 0.6%** |  |
| Mattel, Inc. (A) | &nbsp;&nbsp;499197 | &nbsp;&nbsp;&nbsp;8905674 |
| **Multiline retail – 0.5%** | **Multiline retail – 0.5%** |  |
| Kohl's Corp. | &nbsp;&nbsp;244371 | &nbsp;&nbsp;&nbsp;6170368 |
| **Specialty retail – 1.2%** | **Specialty retail – 1.2%** |  |
| Best Buy Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72900 | &nbsp;&nbsp;&nbsp;5847309 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| The TJX Companies, Inc. | &nbsp;&nbsp;141692 | $&nbsp;&nbsp;&nbsp;11278683 |
|  |  | &nbsp;&nbsp;&nbsp;17125992 |
|  |  | &nbsp;&nbsp;&nbsp;59303482 |
| **Consumer staples – 7.0%** |  |  |
| **Beverages – 0.2%** | **Beverages – 0.2%** |  |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;2757825 |
| **Food and staples retailing – 0.9%** | **Food and staples retailing – 0.9%** |  |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89207 | &nbsp;&nbsp;&nbsp;12648661 |
| **Food products – 2.6%** | **Food products – 2.6%** |  |
| Conagra Brands, Inc. | &nbsp;&nbsp;571312 | &nbsp;&nbsp;&nbsp;22109774 |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;29265 | &nbsp;&nbsp;&nbsp;&nbsp;1950512 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;187142 | &nbsp;&nbsp;&nbsp;11649590 |
|  |  | &nbsp;&nbsp;&nbsp;35709876 |
| **Household products – 1.6%** | **Household products – 1.6%** |  |
| Kimberly-Clark Corp. | &nbsp;&nbsp;156813 | &nbsp;&nbsp;&nbsp;21287365 |
| **Tobacco – 1.7%** | **Tobacco – 1.7%** |  |
| Philip Morris International, Inc. | &nbsp;&nbsp;235354 | &nbsp;&nbsp;&nbsp;23820178 |
|  |  | &nbsp;&nbsp;&nbsp;96223905 |
| **Energy – 8.6%** |  |  |
| **Oil, gas and consumable fuels – 8.6%** | **Oil, gas and consumable fuels – 8.6%** |  |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24527 | &nbsp;&nbsp;&nbsp;&nbsp;4402351 |
| Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;3558100 |
| EOG Resources, Inc. | &nbsp;&nbsp;118771 | &nbsp;&nbsp;&nbsp;15383220 |
| Exxon Mobil Corp. | &nbsp;&nbsp;194220 | &nbsp;&nbsp;&nbsp;21422466 |
| Hess Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85930 | &nbsp;&nbsp;&nbsp;12186593 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826581 |
| TC Energy Corp. (B) | &nbsp;&nbsp;390371 | &nbsp;&nbsp;&nbsp;15560188 |
| The Williams Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp;1112020 |
| TotalEnergies SE (B) | &nbsp;&nbsp;539956 | &nbsp;&nbsp;&nbsp;33894731 |
| TotalEnergies SE, ADR | &nbsp;&nbsp;160573 | &nbsp;&nbsp;&nbsp;&nbsp;9968372 |
|  |  | 118314622 |
| **Financials – 21.0%** |  |  |
| **Banks – 7.8%** | **Banks – 7.8%** |  |
| Bank of America Corp. | &nbsp;&nbsp;228486 | &nbsp;&nbsp;&nbsp;&nbsp;7567456 |
| Citigroup, Inc. | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;7101110 |
| Fifth Third Bancorp | &nbsp;&nbsp;428350 | &nbsp;&nbsp;&nbsp;14054164 |
| Huntington Bancshares, Inc. | 1282556 | &nbsp;&nbsp;&nbsp;18084040 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;74782 | &nbsp;&nbsp;&nbsp;10028266 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16706 | &nbsp;&nbsp;&nbsp;&nbsp;2638546 |
| U.S. Bancorp | &nbsp;&nbsp;144900 | &nbsp;&nbsp;&nbsp;&nbsp;6319089 |
| Wells Fargo & Company | 1010985 | &nbsp;&nbsp;&nbsp;41743574 |
|  |  | 107536245 |
| **Capital markets – 3.4%** | **Capital markets – 3.4%** |  |
| Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50305 | &nbsp;&nbsp;&nbsp;&nbsp;1327046 |
| Morgan Stanley | &nbsp;&nbsp;118945 | &nbsp;&nbsp;&nbsp;10112704 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10146 | &nbsp;&nbsp;&nbsp;&nbsp;1084100 |
| State Street Corp. | &nbsp;&nbsp;105821 | &nbsp;&nbsp;&nbsp;&nbsp;8208535 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;2470752 |
| The Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85515 | &nbsp;&nbsp;&nbsp;&nbsp;7119979 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48135 | &nbsp;&nbsp;&nbsp;16528596 |
|  |  | &nbsp;&nbsp;&nbsp;46851712 |
| **Diversified financial services – 1.8%** | **Diversified financial services – 1.8%** |  |
| Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47800 | &nbsp;&nbsp;&nbsp;&nbsp;3049162 |
| Equitable Holdings, Inc. | &nbsp;&nbsp;751596 | &nbsp;&nbsp;&nbsp;21570805 |
|  |  | &nbsp;&nbsp;&nbsp;24619967 |
| **Insurance – 8.0%** | **Insurance – 8.0%** |  |
| American International Group, Inc. | &nbsp;&nbsp;540580 | &nbsp;&nbsp;&nbsp;34186279 |
| Chubb, Ltd. | &nbsp;&nbsp;123281 | &nbsp;&nbsp;&nbsp;27195789 |
| Loews Corp. | &nbsp;&nbsp;237946 | &nbsp;&nbsp;&nbsp;13879390 |
| MetLife, Inc. | &nbsp;&nbsp;295457 | &nbsp;&nbsp;&nbsp;21382223 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| The Hartford Financial Services Group, Inc. | 173723 | $&nbsp;&nbsp;&nbsp;13173415 |
|  |  | 109817096 |
|  |  | 288825020 |
| **Health care – 17.3%** |  |  |
| **Biotechnology – 1.8%** | **Biotechnology – 1.8%** |  |
| AbbVie, Inc. | 126909 | &nbsp;&nbsp;&nbsp;20509763 |
| Biogen, Inc. (A) | &nbsp;&nbsp;15139 | &nbsp;&nbsp;&nbsp;&nbsp;4192292 |
|  |  | &nbsp;&nbsp;&nbsp;24702055 |
| **Health care equipment and supplies – 3.6%** | **Health care equipment and supplies – 3.6%** |  |
| Becton, Dickinson and Company | &nbsp;&nbsp;87365 | &nbsp;&nbsp;&nbsp;22216920 |
| Medtronic PLC | 156088 | &nbsp;&nbsp;&nbsp;12131159 |
| Zimmer Biomet Holdings, Inc. | 122384 | &nbsp;&nbsp;&nbsp;15603960 |
|  |  | &nbsp;&nbsp;&nbsp;49952039 |
| **Health care providers and services – 5.8%** | **Health care providers and services – 5.8%** |  |
| Cardinal Health, Inc. | 102471 | &nbsp;&nbsp;&nbsp;&nbsp;7876946 |
| Centene Corp. (A) | 105429 | &nbsp;&nbsp;&nbsp;&nbsp;8646232 |
| Cigna Corp. | &nbsp;&nbsp;49348 | &nbsp;&nbsp;&nbsp;16350966 |
| CVS Health Corp. | 160391 | &nbsp;&nbsp;&nbsp;14946837 |
| Elevance Health, Inc. | &nbsp;&nbsp;62060 | &nbsp;&nbsp;&nbsp;31834918 |
|  |  | &nbsp;&nbsp;&nbsp;79655899 |
| **Pharmaceuticals – 6.1%** | **Pharmaceuticals – 6.1%** |  |
| AstraZeneca PLC, ADR | 116332 | &nbsp;&nbsp;&nbsp;&nbsp;7887310 |
| Johnson & Johnson | 155257 | &nbsp;&nbsp;&nbsp;27426149 |
| Merck & Company, Inc. | 116921 | &nbsp;&nbsp;&nbsp;12972385 |
| Pfizer, Inc. | 359899 | &nbsp;&nbsp;&nbsp;18441225 |
| Sanofi | &nbsp;&nbsp;92123 | &nbsp;&nbsp;&nbsp;&nbsp;8883101 |
| Sanofi, ADR | &nbsp;&nbsp;97094 | &nbsp;&nbsp;&nbsp;&nbsp;4702262 |
| Viatris, Inc. | 274100 | &nbsp;&nbsp;&nbsp;&nbsp;3050733 |
|  |  | &nbsp;&nbsp;&nbsp;83363165 |
|  |  | 237673158 |
| **Industrials – 10.8%** |  |  |
| **Aerospace and defense – 2.5%** | **Aerospace and defense – 2.5%** |  |
| L3Harris Technologies, Inc. | 104090 | &nbsp;&nbsp;&nbsp;21672579 |
| The Boeing Company (A) | &nbsp;&nbsp;65034 | &nbsp;&nbsp;&nbsp;12388327 |
|  |  | &nbsp;&nbsp;&nbsp;34060906 |
| **Air freight and logistics – 2.0%** | **Air freight and logistics – 2.0%** |  |
| United Parcel Service, Inc., Class B | 155643 | &nbsp;&nbsp;&nbsp;27056979 |
| **Airlines – 0.5%** | **Airlines – 0.5%** |  |
| Southwest Airlines Company (A) | 192641 | &nbsp;&nbsp;&nbsp;&nbsp;6486222 |
| **Commercial services and supplies – 0.6%** | **Commercial services and supplies – 0.6%** |  |
| Stericycle, Inc. (A) | 166749 | &nbsp;&nbsp;&nbsp;&nbsp;8319108 |
| **Industrial conglomerates – 4.1%** | **Industrial conglomerates – 4.1%** |  |
| 3M Company | &nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;2206528 |
| General Electric Company | 484051 | &nbsp;&nbsp;&nbsp;40558633 |
| Siemens AG, ADR | 209910 | &nbsp;&nbsp;&nbsp;14439709 |
|  |  | &nbsp;&nbsp;&nbsp;57204870 |
| **Machinery – 1.1%** | **Machinery – 1.1%** |  |
| Cummins, Inc. | &nbsp;&nbsp;14732 | &nbsp;&nbsp;&nbsp;&nbsp;3569416 |
| Flowserve Corp. | &nbsp;&nbsp;39087 | &nbsp;&nbsp;&nbsp;&nbsp;1199189 |
| PACCAR, Inc. | &nbsp;&nbsp;20133 | &nbsp;&nbsp;&nbsp;&nbsp;1992563 |
| Stanley Black & Decker, Inc. | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;8789040 |
|  |  | &nbsp;&nbsp;&nbsp;15550208 |
|  |  | 148678293 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Equity Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Information technology – 6.9%** |  |  |
| **Communications equipment – 0.4%** | **Communications equipment – 0.4%** |  |
| Cisco Systems, Inc. | 114769 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467595 |
| **Electronic equipment, instruments and components – 0.3%** | **Electronic equipment, instruments and components – 0.3%** |  |
| TE Connectivity, Ltd. | &nbsp;&nbsp;31553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3622284 |
| **IT services – 1.0%** | **IT services – 1.0%** |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241456 |
| Fiserv, Inc. (A) | 112392 | &nbsp;&nbsp;&nbsp;&nbsp;11359459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13600915 |
| **Semiconductors and semiconductor equipment – 3.9%** | **Semiconductors and semiconductor equipment – 3.9%** |  |
| Applied Materials, Inc. | 102930 | &nbsp;&nbsp;&nbsp;&nbsp;10023323 |
| NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;9055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430962 |
| Qualcomm, Inc. | 259438 | &nbsp;&nbsp;&nbsp;&nbsp;28522614 |
| Texas Instruments, Inc. | &nbsp;&nbsp;84017 | &nbsp;&nbsp;&nbsp;&nbsp;13881289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;53858188 |
| **Software – 1.2%** | **Software – 1.2%** |  |
| Microsoft Corp. | &nbsp;&nbsp;71043 | &nbsp;&nbsp;&nbsp;&nbsp;17037532 |
| **Technology hardware, storage and peripherals – 0.1%** | **Technology hardware, storage and peripherals – 0.1%** |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;23089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;94599965 |
| **Materials – 4.3%** |  |  |
| **Chemicals – 2.9%** | **Chemicals – 2.9%** |  |
| CF Industries Holdings, Inc. | 292884 | &nbsp;&nbsp;&nbsp;&nbsp;24953717 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;13952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957526 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;87328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155468 |
| RPM International, Inc. | &nbsp;&nbsp;43700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4258565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;39325276 |
| **Containers and packaging – 1.4%** | **Containers and packaging – 1.4%** |  |
| International Paper Company | 555197 | &nbsp;&nbsp;&nbsp;&nbsp;19226472 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;58551748 |
| **Real estate – 4.0%** |  |  |
| **Equity real estate investment trusts – 4.0%** | **Equity real estate investment trusts – 4.0%** |  |
| Equity Residential | 324132 | &nbsp;&nbsp;&nbsp;&nbsp;19123788 |
| Rayonier, Inc. | 333404 | &nbsp;&nbsp;&nbsp;&nbsp;10988996 |
| Vornado Realty Trust | &nbsp;&nbsp;42393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882198 |
| Welltower, Inc. | &nbsp;&nbsp;31873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089275 |
| Weyerhaeuser Company | 682506 | &nbsp;&nbsp;&nbsp;&nbsp;21157686 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;54241943 |
| **Utilities – 7.5%** |  |  |
| **Electric utilities – 3.1%** | **Electric utilities – 3.1%** |  |
| PG&E Corp. (A) | 114800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866648 |
| The Southern Company | 576512 | &nbsp;&nbsp;&nbsp;&nbsp;41168722 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;43035370 |
| **Multi-utilities – 4.4%** | **Multi-utilities – 4.4%** |  |
| Ameren Corp. | 104278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272400 |
| Dominion Energy, Inc. | 266597 | &nbsp;&nbsp;&nbsp;&nbsp;16347728 |
| NiSource, Inc. | 245949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6743922 |
| Sempra Energy | 180219 | &nbsp;&nbsp;&nbsp;&nbsp;27851044 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;60215094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;103250464 |
| TOTAL COMMON STOCKS (Cost $1,074,583,972) | TOTAL COMMON STOCKS (Cost $1,074,583,972) | $1329282314 |
| **PREFERRED SECURITIES – 1.9%** |  |  |
| **Consumer discretionary – 0.7%** |  |  |
| **Automobiles – 0.7%** | **Automobiles – 0.7%** |  |
| Dr. Ing. h.c. F. Porsche AG (A)(B) | &nbsp;&nbsp;91958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9279804 |
| **Health care – 0.4%** |  |  |
| **Health care equipment and supplies – 0.4%** | **Health care equipment and supplies – 0.4%** |  |
| Becton, Dickinson and Company, 6.000% | 106565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336775 |
| **Utilities – 0.8%** |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES (continued)** |  |  |
| **Electric utilities – 0.5%** | **Electric utilities – 0.5%** |  |
| NextEra Energy, Inc., 5.279% | &nbsp;&nbsp;&nbsp;&nbsp;91279 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4627845 |
| NextEra Energy, Inc., 6.926% | &nbsp;&nbsp;&nbsp;&nbsp;56812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2851394 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7479239 |
| **Multi-utilities – 0.3%** | **Multi-utilities – 0.3%** |  |
| NiSource, Inc., 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;41667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4302534 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11781773 |
| TOTAL PREFERRED SECURITIES (Cost $25,500,825) | TOTAL PREFERRED SECURITIES (Cost $25,500,825) | $&nbsp;&nbsp;&nbsp;&nbsp;26398352 |
| **SHORT-TERM INVESTMENTS – 5.1%** | **SHORT-TERM INVESTMENTS – 5.1%** |  |
| **Short-term funds – 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;5642825 | &nbsp;&nbsp;&nbsp;&nbsp;56404547 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (C) | &nbsp;&nbsp;3006516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006516 |
| T. Rowe Price Government Reserve Fund, 4.2602% (C) | 11083138 | &nbsp;&nbsp;&nbsp;&nbsp;11083138 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $70,494,739) | TOTAL SHORT-TERM INVESTMENTS (Cost $70,494,739) | $&nbsp;&nbsp;&nbsp;&nbsp;70494201 |
| **Total Investments (Equity Income Trust)<br> (Cost $1,170,579,536) – 103.8%** | **Total Investments (Equity Income Trust)<br> (Cost $1,170,579,536) – 103.8%** | $**1426174867** |
| **Other assets and liabilities, net – (3.8%)** | **Other assets and liabilities, net – (3.8%)** | &nbsp;&nbsp;&nbsp;&nbsp;**(52363962)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1373810905** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Financial Industries Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.4%** | **COMMON STOCKS – 96.4%** |  |
| **Financials – 93.8%** |  |  |
| **Banks – 46.8%** | **Banks – 46.8%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21215 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126304 |
| American Business Bank (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100351 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605371 |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472036 |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250098 |
| BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716115 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755173 |
| California BanCorp (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655543 |
| Cambridge Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663775 |
| Central Valley Community Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576096 |
| Citizens Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240696 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809323 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460907 |
| Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036442 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59834 |
| Evans Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628077 |
| Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305427 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968560 |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830258 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487548 |
| HBT Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855542 |
| Heritage Commerce Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173446 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654068 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Financial Industries Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| JPMorgan Chase & Co. | &nbsp;&nbsp;24739 | $&nbsp;&nbsp;&nbsp;&nbsp;3317500 |
| Landmark Bancorp, Inc. | &nbsp;&nbsp;13402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303287 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;24594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742739 |
| M&T Bank Corp. | &nbsp;&nbsp;23908 | &nbsp;&nbsp;&nbsp;&nbsp;3468094 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;13471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403726 |
| Nicolet Bankshares, Inc. (A) | &nbsp;&nbsp;20951 | &nbsp;&nbsp;&nbsp;&nbsp;1671680 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;27781 | &nbsp;&nbsp;&nbsp;&nbsp;2039125 |
| Popular, Inc. | &nbsp;&nbsp;31043 | &nbsp;&nbsp;&nbsp;&nbsp;2058772 |
| Premier Financial Corp. | &nbsp;&nbsp;42996 | &nbsp;&nbsp;&nbsp;&nbsp;1159602 |
| Regions Financial Corp. | 136082 | &nbsp;&nbsp;&nbsp;&nbsp;2933928 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;20417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355868 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;12586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575810 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;34048 | &nbsp;&nbsp;&nbsp;&nbsp;2212439 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp;1359855 |
| The First Bancshares, Inc. | &nbsp;&nbsp;18748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600123 |
| TriCo Bancshares | &nbsp;&nbsp;46675 | &nbsp;&nbsp;&nbsp;&nbsp;2379958 |
| U.S. Bancorp | &nbsp;&nbsp;36722 | &nbsp;&nbsp;&nbsp;&nbsp;1601446 |
| Webster Financial Corp. | &nbsp;&nbsp;33761 | &nbsp;&nbsp;&nbsp;&nbsp;1598246 |
| Wells Fargo & Company | &nbsp;&nbsp;98025 | &nbsp;&nbsp;&nbsp;&nbsp;4047458 |
| Zions Bancorp NA | &nbsp;&nbsp;32328 | &nbsp;&nbsp;&nbsp;&nbsp;1589244 |
|  |  | &nbsp;&nbsp;&nbsp;63849890 |
| **Capital markets – 13.9%** | **Capital markets – 13.9%** |  |
| AllianceBernstein Holding LP | &nbsp;&nbsp;50827 | &nbsp;&nbsp;&nbsp;&nbsp;1746924 |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;11940 | &nbsp;&nbsp;&nbsp;&nbsp;3717758 |
| Brookfield Asset Management, Ltd., Class A (A) | &nbsp;&nbsp;12871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369012 |
| Brookfield Corp. | &nbsp;&nbsp;51487 | &nbsp;&nbsp;&nbsp;&nbsp;1619781 |
| Morgan Stanley | &nbsp;&nbsp;41673 | &nbsp;&nbsp;&nbsp;&nbsp;3543038 |
| Onex Corp. | &nbsp;&nbsp;34058 | &nbsp;&nbsp;&nbsp;&nbsp;1642280 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;28685 | &nbsp;&nbsp;&nbsp;&nbsp;3064992 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;6315 | &nbsp;&nbsp;&nbsp;&nbsp;2115146 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;3327 | &nbsp;&nbsp;&nbsp;&nbsp;1142425 |
|  |  | &nbsp;&nbsp;&nbsp;18961356 |
| **Consumer finance – 1.5%** | **Consumer finance – 1.5%** |  |
| American Express Company | &nbsp;&nbsp;14032 | &nbsp;&nbsp;&nbsp;&nbsp;2073228 |
| **Diversified financial services – 2.8%** | **Diversified financial services – 2.8%** |  |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;4473 | &nbsp;&nbsp;&nbsp;&nbsp;1381710 |
| Corebridge Financial, Inc. (B) | 123277 | &nbsp;&nbsp;&nbsp;&nbsp;2472937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3854647 |
| **Insurance – 28.3%** | **Insurance – 28.3%** |  |
| American International Group, Inc. | &nbsp;&nbsp;72554 | &nbsp;&nbsp;&nbsp;&nbsp;4588315 |
| Arch Capital Group, Ltd. (A) | &nbsp;&nbsp;37809 | &nbsp;&nbsp;&nbsp;&nbsp;2373649 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;21073 | &nbsp;&nbsp;&nbsp;&nbsp;3973103 |
| Chubb, Ltd. | &nbsp;&nbsp;20432 | &nbsp;&nbsp;&nbsp;&nbsp;4507299 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;49896 | &nbsp;&nbsp;&nbsp;&nbsp;1043325 |
| Markel Corp. (A) | &nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;4163268 |
| MetLife, Inc. | &nbsp;&nbsp;57411 | &nbsp;&nbsp;&nbsp;&nbsp;4154834 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;21997 | &nbsp;&nbsp;&nbsp;&nbsp;3125554 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;12355 | &nbsp;&nbsp;&nbsp;&nbsp;2276162 |
| The Allstate Corp. | &nbsp;&nbsp;18182 | &nbsp;&nbsp;&nbsp;&nbsp;2465479 |
| The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;31210 | &nbsp;&nbsp;&nbsp;&nbsp;2366654 |
| Unum Group | &nbsp;&nbsp;88641 | &nbsp;&nbsp;&nbsp;&nbsp;3636940 |
|  |  | &nbsp;&nbsp;&nbsp;38674582 |
| **Thrifts and mortgage finance – 0.5%** | **Thrifts and mortgage finance – 0.5%** |  |
| ESSA Bancorp, Inc. | &nbsp;&nbsp;17566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366602 |
| Timberland Bancorp, Inc. | &nbsp;&nbsp;&nbsp;9366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686264 |
|  |  | 128099967 |
| **Real estate – 2.6%** |  |  |
| **Equity real estate investment trusts – 2.6%** | **Equity real estate investment trusts – 2.6%** |  |
| Prologis, Inc. | &nbsp;&nbsp;18203 | &nbsp;&nbsp;&nbsp;&nbsp;2052024 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;27542 | $&nbsp;&nbsp;&nbsp;&nbsp;1504895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3556919 |
| TOTAL COMMON STOCKS (Cost $125,753,549) | TOTAL COMMON STOCKS (Cost $125,753,549) | $131656886 |
| **CORPORATE BONDS - 0.9%** |  |  |
| **Financials - 0.9%** |  |  |
| BNP Paribas SA<br> 7.750%, (7.750% to 8-16-29, then 5 Year CMT + 4.899%), 08/16/2029 (C)(D) | 508000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501650 |
| Lincoln National Corp.<br> 9.250%, (9.250% to 12-1-27, then 5 Year CMT + 5.318%), 12/01/2027 (D) | 752000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1300650 |
| TOTAL CORPORATE BONDS (Cost $1,256,308) | TOTAL CORPORATE BONDS (Cost $1,256,308) | $&nbsp;&nbsp;&nbsp;&nbsp;1300650 |
| **CONVERTIBLE BONDS - 0.5%** |  |  |
| **Financials - 0.5%** |  |  |
| Redwood Trust, Inc.<br> 7.750%, 06/15/2027 (C) | 745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630494 |
| TOTAL CONVERTIBLE BONDS (Cost $659,454) | TOTAL CONVERTIBLE BONDS (Cost $659,454) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630494 |
| **SHORT-TERM INVESTMENTS – 4.2%** | **SHORT-TERM INVESTMENTS – 4.2%** |  |
| **Short-term funds – 4.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 568344 | &nbsp;&nbsp;&nbsp;&nbsp;5681050 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,680,968) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,680,968) | $&nbsp;&nbsp;&nbsp;&nbsp;5681050 |
| **Total Investments (Financial Industries Trust)<br> (Cost $133,350,279) – 102.0%** | **Total Investments (Financial Industries Trust)<br> (Cost $133,350,279) – 102.0%** | $**139269080** |
| **Other assets and liabilities, net – (2.0%)** | **Other assets and liabilities, net – (2.0%)** | &nbsp;&nbsp;&nbsp;**(2776657)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**136492423** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $1,996,792. |

---

#### Fundamental All Cap Core Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.5%** | **COMMON STOCKS – 97.5%** |  |
| **Communication services – 9.3%** |  |  |
| **Entertainment – 3.3%** | **Entertainment – 3.3%** |  |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026430 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61359985 |
| **Interactive media and services – 6.0%** | **Interactive media and services – 6.0%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92241200 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Fundamental All Cap Core Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259579 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17646702 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109887902 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171247887 |
| **Consumer discretionary – 21.5%** |  |  |
| **Household durables – 5.1%** | **Household durables – 5.1%** |  |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73110154 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21462335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94572489 |
| **Internet and direct marketing retail – 7.7%** | **Internet and direct marketing retail – 7.7%** |  |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142601421 |
| **Leisure products – 2.5%** | **Leisure products – 2.5%** |  |
| Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45524841 |
| **Specialty retail – 4.0%** | **Specialty retail – 4.0%** |  |
| Dufry AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33109999 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39938067 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73048066 |
| **Textiles, apparel and luxury goods – 2.2%** | **Textiles, apparel and luxury goods – 2.2%** |  |
| Canada Goose Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23098270 |
| Salvatore Ferragamo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17518001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40616271 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396363088 |
| **Consumer staples – 3.3%** |  |  |
| **Beverages – 1.3%** | **Beverages – 1.3%** |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24262224 |
| **Food products – 1.0%** | **Food products – 1.0%** |  |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17747891 |
| **Personal products – 1.0%** | **Personal products – 1.0%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18465595 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60475710 |
| **Energy – 5.5%** |  |  |
| **Oil, gas and consumable fuels – 5.5%** | **Oil, gas and consumable fuels – 5.5%** |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65926765 |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36054894 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101981659 |
| **Financials – 19.1%** |  |  |
| **Banks – 4.0%** | **Banks – 4.0%** |  |
| First Hawaiian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73761347 |
| **Capital markets – 14.5%** | **Capital markets – 14.5%** |  |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70985371 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72389344 |
| S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39864224 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85245802 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268484741 |
| **Consumer finance – 0.6%** | **Consumer finance – 0.6%** |  |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10524138 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352770226 |
| **Health care – 5.5%** |  |  |
| **Biotechnology – 2.9%** | **Biotechnology – 2.9%** |  |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16528082 |
| Moderna, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36944421 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53472503 |
| **Health care equipment and supplies – 0.8%** | **Health care equipment and supplies – 0.8%** |  |
| Hologic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15244707 |
| **Life sciences tools and services – 1.1%** | **Life sciences tools and services – 1.1%** |  |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19145839 |
| **Pharmaceuticals – 0.7%** | **Pharmaceuticals – 0.7%** |  |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13292195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101155244 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrials – 4.7%** |  |  |
| **Electrical equipment – 1.4%** | **Electrical equipment – 1.4%** |  |
| Regal Rexnord Corp. | &nbsp;&nbsp;128516 | $&nbsp;&nbsp;&nbsp;&nbsp;15419350 |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;249646 | &nbsp;&nbsp;&nbsp;&nbsp;10080705 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25500055 |
| **Machinery – 1.4%** | **Machinery – 1.4%** |  |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;89996 | &nbsp;&nbsp;&nbsp;&nbsp;26188836 |
| **Trading companies and distributors – 1.9%** | **Trading companies and distributors – 1.9%** |  |
| United Rentals, Inc. (A) | &nbsp;&nbsp;100819 | &nbsp;&nbsp;&nbsp;&nbsp;35833089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;87521980 |
| **Information technology – 25.0%** |  |  |
| **Electronic equipment, instruments and components – 1.0%** | **Electronic equipment, instruments and components – 1.0%** |  |
| CDW Corp. | &nbsp;&nbsp;107345 | &nbsp;&nbsp;&nbsp;&nbsp;19169670 |
| **Semiconductors and semiconductor equipment – 6.2%** | **Semiconductors and semiconductor equipment – 6.2%** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;440324 | &nbsp;&nbsp;&nbsp;&nbsp;72226346 |
| NVIDIA Corp. | &nbsp;&nbsp;292279 | &nbsp;&nbsp;&nbsp;&nbsp;42713653 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;114939999 |
| **Software – 13.8%** | **Software – 13.8%** |  |
| Autodesk, Inc. (A) | &nbsp;&nbsp;158118 | &nbsp;&nbsp;&nbsp;&nbsp;29547511 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78762 | &nbsp;&nbsp;&nbsp;&nbsp;18888703 |
| Oracle Corp. | &nbsp;&nbsp;390600 | &nbsp;&nbsp;&nbsp;&nbsp;31927644 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77484 | &nbsp;&nbsp;&nbsp;&nbsp;33480062 |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;431039 | &nbsp;&nbsp;&nbsp;&nbsp;57151461 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;493761 | &nbsp;&nbsp;&nbsp;&nbsp;82621028 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;253616409 |
| **Technology hardware, storage and peripherals – 4.0%** | **Technology hardware, storage and peripherals – 4.0%** |  |
| Apple, Inc. | &nbsp;&nbsp;563815 | &nbsp;&nbsp;&nbsp;&nbsp;73256483 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;460982561 |
| **Materials – 1.3%** |  |  |
| **Chemicals – 1.3%** | **Chemicals – 1.3%** |  |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;908814 | &nbsp;&nbsp;&nbsp;&nbsp;23147493 |
| **Real estate – 2.3%** |  |  |
| **Equity real estate investment trusts – 2.0%** | **Equity real estate investment trusts – 2.0%** |  |
| American Tower Corp. | &nbsp;&nbsp;108381 | &nbsp;&nbsp;&nbsp;&nbsp;22961599 |
| Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97856 | &nbsp;&nbsp;&nbsp;&nbsp;13273188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;36234787 |
| **Real estate management and development – 0.3%** | **Real estate management and development – 0.3%** |  |
| Five Point Holdings LLC, Class A (A) | 2477410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42007152 |
| TOTAL COMMON STOCKS (Cost $1,395,897,067) | TOTAL COMMON STOCKS (Cost $1,395,897,067) | $1797653000 |
| **SHORT-TERM INVESTMENTS – 2.5%** | **SHORT-TERM INVESTMENTS – 2.5%** |  |
| **Short-term funds – 2.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 4581360 | &nbsp;&nbsp;&nbsp;&nbsp;45794358 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $45,793,861) | TOTAL SHORT-TERM INVESTMENTS (Cost $45,793,861) | $&nbsp;&nbsp;&nbsp;&nbsp;45794358 |
| **Total Investments (Fundamental All Cap Core Trust)<br> (Cost $1,441,690,928) – 100.0%** | **Total Investments (Fundamental All Cap Core Trust)<br> (Cost $1,441,690,928) – 100.0%** | $**1843447358** |
| **Other assets and liabilities, net – (0.0%)** | **Other assets and liabilities, net – (0.0%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(136555)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1843310803** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Fundamental Large Cap Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 99.4%** | **COMMON STOCKS – 99.4%** |  |
| **Communication services – 7.5%** |  |  |
| **Interactive media and services – 3.2%** | **Interactive media and services – 3.2%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175231 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15460631 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7542069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23002700 |
| **Media – 4.3%** | **Media – 4.3%** |  |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6110582 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24905909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31016491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54019191 |
| **Consumer discretionary – 7.1%** |  |  |
| **Household durables – 3.6%** | **Household durables – 3.6%** |  |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25648243 |
| **Internet and direct marketing retail – 1.7%** | **Internet and direct marketing retail – 1.7%** |  |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11847481 |
| **Specialty retail – 1.8%** | **Specialty retail – 1.8%** |  |
| CarMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5763847 |
| Dufry AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450907 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13214754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50710478 |
| **Consumer staples – 9.7%** |  |  |
| **Beverages – 2.8%** | **Beverages – 2.8%** |  |
| Anheuser-Busch InBev SA/NV, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12941022 |
| Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7404309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20345331 |
| **Food and staples retailing – 3.3%** | **Food and staples retailing – 3.3%** |  |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23330410 |
| **Food products – 2.8%** | **Food products – 2.8%** |  |
| Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9719609 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10391905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20111514 |
| **Personal products – 0.8%** | **Personal products – 0.8%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381016 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69168271 |
| **Energy – 7.4%** |  |  |
| **Oil, gas and consumable fuels – 7.4%** | **Oil, gas and consumable fuels – 7.4%** |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20837842 |
| Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12023676 |
| Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3610630 |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16148730 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52620878 |
| **Financials – 19.5%** |  |  |
| **Banks – 7.5%** | **Banks – 7.5%** |  |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9169504 |
| Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13109870 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17812637 |
| Wells Fargo & Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13465041 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53557052 |
| **Capital markets – 11.6%** | **Capital markets – 11.6%** |  |
| KKR & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20196878 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10331715 |
| Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16581065 |
| State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22885322 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12519978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82514958 |
| **Consumer finance – 0.4%** | **Consumer finance – 0.4%** |  |
| American Express Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3086498 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139158508 |

---

#### Fundamental Large Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care – 16.4%** |  |  |
| **Biotechnology – 2.1%** | **Biotechnology – 2.1%** |  |
| Gilead Sciences, Inc. | &nbsp;&nbsp;89153 | $&nbsp;&nbsp;&nbsp;&nbsp;7653785 |
| Moderna, Inc. (A) | &nbsp;&nbsp;40827 | &nbsp;&nbsp;&nbsp;&nbsp;7333346 |
|  |  | &nbsp;&nbsp;&nbsp;14987131 |
| **Health care equipment and supplies – 0.9%** | **Health care equipment and supplies – 0.9%** |  |
| Hologic, Inc. (A) | &nbsp;&nbsp;81458 | &nbsp;&nbsp;&nbsp;&nbsp;6093873 |
| **Health care providers and services – 7.9%** | **Health care providers and services – 7.9%** |  |
| Elevance Health, Inc. | &nbsp;&nbsp;75438 | &nbsp;&nbsp;&nbsp;38697431 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;30090 | &nbsp;&nbsp;&nbsp;&nbsp;7220396 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;19265 | &nbsp;&nbsp;&nbsp;10213918 |
|  |  | &nbsp;&nbsp;&nbsp;56131745 |
| **Life sciences tools and services – 1.7%** | **Life sciences tools and services – 1.7%** |  |
| Danaher Corp. | &nbsp;&nbsp;46843 | &nbsp;&nbsp;&nbsp;12433069 |
| **Pharmaceuticals – 3.8%** | **Pharmaceuticals – 3.8%** |  |
| Elanco Animal Health, Inc. (A) | 538662 | &nbsp;&nbsp;&nbsp;&nbsp;6582450 |
| Merck & Company, Inc. | 112172 | &nbsp;&nbsp;&nbsp;12445483 |
| Novartis AG, ADR | &nbsp;&nbsp;92943 | &nbsp;&nbsp;&nbsp;&nbsp;8431789 |
|  |  | &nbsp;&nbsp;&nbsp;27459722 |
|  |  | 117105540 |
| **Industrials – 14.8%** |  |  |
| **Aerospace and defense – 4.9%** | **Aerospace and defense – 4.9%** |  |
| Airbus SE | &nbsp;&nbsp;67136 | &nbsp;&nbsp;&nbsp;&nbsp;7982631 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;30304 | &nbsp;&nbsp;&nbsp;&nbsp;6309596 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;9974 | &nbsp;&nbsp;&nbsp;&nbsp;4852251 |
| Raytheon Technologies Corp. | 156753 | &nbsp;&nbsp;&nbsp;15819513 |
|  |  | &nbsp;&nbsp;&nbsp;34963991 |
| **Electrical equipment – 0.9%** | **Electrical equipment – 0.9%** |  |
| Sensata Technologies Holding PLC | 162252 | &nbsp;&nbsp;&nbsp;&nbsp;6551736 |
| **Machinery – 5.5%** | **Machinery – 5.5%** |  |
| Fortive Corp. | 177176 | &nbsp;&nbsp;&nbsp;11383558 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;94834 | &nbsp;&nbsp;&nbsp;27596694 |
|  |  | &nbsp;&nbsp;&nbsp;38980252 |
| **Trading companies and distributors – 3.5%** | **Trading companies and distributors – 3.5%** |  |
| United Rentals, Inc. (A) | &nbsp;&nbsp;70564 | &nbsp;&nbsp;&nbsp;25079857 |
|  |  | 105575836 |
| **Information technology – 12.7%** |  |  |
| **Electronic equipment, instruments and components – 1.2%** | **Electronic equipment, instruments and components – 1.2%** |  |
| Vontier Corp. | 442154 | &nbsp;&nbsp;&nbsp;&nbsp;8546837 |
| **Semiconductors and semiconductor equipment – 2.5%** | **Semiconductors and semiconductor equipment – 2.5%** |  |
| Analog Devices, Inc. | &nbsp;&nbsp;63959 | &nbsp;&nbsp;&nbsp;10491195 |
| KLA Corp. | &nbsp;&nbsp;10550 | &nbsp;&nbsp;&nbsp;&nbsp;3977667 |
| Taiwan Semiconductor Manufacturing Company, Ltd., ADR | &nbsp;&nbsp;43885 | &nbsp;&nbsp;&nbsp;&nbsp;3268994 |
|  |  | &nbsp;&nbsp;&nbsp;17737856 |
| **Software – 8.0%** | **Software – 8.0%** |  |
| Microsoft Corp. | &nbsp;&nbsp;81010 | &nbsp;&nbsp;&nbsp;19427818 |
| Oracle Corp. | 464348 | &nbsp;&nbsp;&nbsp;37955806 |
|  |  | &nbsp;&nbsp;&nbsp;57383624 |
| **Technology hardware, storage and peripherals – 1.0%** | **Technology hardware, storage and peripherals – 1.0%** |  |
| Samsung Electronics Company, Ltd. | 157290 | &nbsp;&nbsp;&nbsp;&nbsp;6903968 |
|  |  | &nbsp;&nbsp;&nbsp;90572285 |
| **Materials – 1.9%** |  |  |
| **Chemicals – 1.9%** | **Chemicals – 1.9%** |  |
| Axalta Coating Systems, Ltd. (A) | 290592 | &nbsp;&nbsp;&nbsp;&nbsp;7401378 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;73401 | &nbsp;&nbsp;&nbsp;&nbsp;6094485 |
|  |  | &nbsp;&nbsp;&nbsp;13495863 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Fundamental Large Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate – 2.4%** |  |  |
| **Equity real estate investment trusts – 2.4%** | **Equity real estate investment trusts – 2.4%** |  |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82082 | $&nbsp;&nbsp;&nbsp;17389893 |
| TOTAL COMMON STOCKS (Cost $583,863,834) | TOTAL COMMON STOCKS (Cost $583,863,834) | $709816743 |
| **ESCROW CERTIFICATES - 0.0%** |  |  |
| Sino-Forest Corp. (A)(B) | $3244100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL ESCROW CERTIFICATES (Cost $3) | TOTAL ESCROW CERTIFICATES (Cost $3) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **SHORT-TERM INVESTMENTS – 0.8%** | **SHORT-TERM INVESTMENTS – 0.8%** |  |
| **Short-term funds – 0.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;610732 | &nbsp;&nbsp;&nbsp;&nbsp;6104753 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,103,437) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,103,437) | $&nbsp;&nbsp;&nbsp;&nbsp;6104753 |
| **Total Investments (Fundamental Large Cap Value Trust)<br> (Cost $589,967,274) – 100.2%** | **Total Investments (Fundamental Large Cap Value Trust)<br> (Cost $589,967,274) – 100.2%** | $**715921496** |
| **Other assets and liabilities, net – (0.2%)** | **Other assets and liabilities, net – (0.2%)** | &nbsp;&nbsp;&nbsp;**(1748977)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**714172519** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Global Equity Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 96.9%** | **COMMON STOCKS - 96.9%** |  |
| **France - 12.5%** |  |  |
| Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089791 |
| Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5204176 |
| Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801286 |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227107 |
| Sanofi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478769 |
| Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072190 |
| TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8380945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34254264 |
| **Ireland - 4.6%** |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7003216 |
| CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12590308 |
| **Japan - 8.6%** |  |  |
| FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4290517 |
| Mitsubishi Estate Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4113655 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10106388 |
| Tokyo Electric Power Company Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23678599 |
| **Netherlands - 5.5%** |  |  |
| Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959510 |
| ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134382 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4598521 |
| Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415917 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15108330 |
| **Spain - 1.2%** |  |  |
| Amadeus IT Group SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3403325 |

---

#### Global Equity Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland - 4.0%** |  |  |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25648 | $&nbsp;&nbsp;&nbsp;&nbsp;5657949 |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;17313 | &nbsp;&nbsp;&nbsp;&nbsp;5440395 |
|  |  | &nbsp;&nbsp;&nbsp;11098344 |
| **United Kingdom - 4.2%** |  |  |
| Amcor PLC | &nbsp;&nbsp;141316 | &nbsp;&nbsp;&nbsp;&nbsp;1683074 |
| Amcor PLC, CHESS Depositary Interest | &nbsp;&nbsp;448326 | &nbsp;&nbsp;&nbsp;&nbsp;5375975 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;63718 | &nbsp;&nbsp;&nbsp;&nbsp;4416722 |
|  |  | &nbsp;&nbsp;&nbsp;11475771 |
| **United States - 56.3%** |  |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;137619 | &nbsp;&nbsp;&nbsp;12142124 |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52642 | &nbsp;&nbsp;&nbsp;&nbsp;6839775 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;28741 | &nbsp;&nbsp;&nbsp;&nbsp;5418828 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;3262756 |
| Bank of America Corp. | &nbsp;&nbsp;150999 | &nbsp;&nbsp;&nbsp;&nbsp;5001087 |
| Cisco Systems, Inc. | &nbsp;&nbsp;133247 | &nbsp;&nbsp;&nbsp;&nbsp;6347887 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;66919 | &nbsp;&nbsp;&nbsp;&nbsp;7896442 |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69836 | &nbsp;&nbsp;&nbsp;&nbsp;4104960 |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51671 | &nbsp;&nbsp;&nbsp;&nbsp;6313163 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41944 | &nbsp;&nbsp;&nbsp;&nbsp;4303035 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;55369 | &nbsp;&nbsp;&nbsp;&nbsp;9780934 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13536 | &nbsp;&nbsp;&nbsp;&nbsp;2696913 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66056 | &nbsp;&nbsp;&nbsp;15841552 |
| Oracle Corp. | &nbsp;&nbsp;116890 | &nbsp;&nbsp;&nbsp;&nbsp;9554589 |
| Otis Worldwide Corp. | &nbsp;&nbsp;107843 | &nbsp;&nbsp;&nbsp;&nbsp;8445185 |
| Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77039 | &nbsp;&nbsp;&nbsp;&nbsp;7797117 |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38220 | &nbsp;&nbsp;&nbsp;&nbsp;5350800 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14778 | &nbsp;&nbsp;&nbsp;&nbsp;7835000 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8937 | &nbsp;&nbsp;&nbsp;&nbsp;2580827 |
| Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34795 | &nbsp;&nbsp;&nbsp;&nbsp;7229009 |
| Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29303 | &nbsp;&nbsp;&nbsp;&nbsp;4154872 |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35313 | &nbsp;&nbsp;&nbsp;&nbsp;5539903 |
| Wells Fargo & Company | &nbsp;&nbsp;155463 | &nbsp;&nbsp;&nbsp;&nbsp;6419067 |
|  |  | 154855825 |
| TOTAL COMMON STOCKS (Cost $258,383,730) | TOTAL COMMON STOCKS (Cost $258,383,730) | $266464766 |
| **PREFERRED SECURITIES - 2.6%** | **PREFERRED SECURITIES - 2.6%** |  |
| **South Korea - 2.6%** |  |  |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;176443 | &nbsp;&nbsp;&nbsp;&nbsp;7070663 |
| TOTAL PREFERRED SECURITIES (Cost $8,934,713) | TOTAL PREFERRED SECURITIES (Cost $8,934,713) | $&nbsp;&nbsp;&nbsp;&nbsp;7070663 |
| **SHORT-TERM INVESTMENTS - 2.3%** | **SHORT-TERM INVESTMENTS - 2.3%** |  |
| **Short-term funds - 2.3%** |  |  |
| Federated Government Obligations Fund, Institutional Class, 4.0929% (B) | 6383391 | &nbsp;&nbsp;&nbsp;&nbsp;6383391 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,383,391) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,383,391) | $&nbsp;&nbsp;&nbsp;&nbsp;6383391 |
| **Total Investments (Global Equity Trust)<br> (Cost $273,701,834) - 101.8%** | **Total Investments (Global Equity Trust)<br> (Cost $273,701,834) - 101.8%** | $**279918820** |
| **Other assets and liabilities, net - (1.8%)** | **Other assets and liabilities, net - (1.8%)** | &nbsp;&nbsp;&nbsp;**(4864495)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**275054325** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 12-31-22.

#### Health Sciences Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.9%** | **COMMON STOCKS – 97.9%** |  |
| **Consumer discretionary – 0.2%** |  |  |
| **Specialty retail – 0.2%** | **Specialty retail – 0.2%** |  |
| Warby Parker, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36765 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495960 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Health Sciences Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Financials – 0.1%** |  |  |
| **Capital markets – 0.1%** | **Capital markets – 0.1%** |  |
| Health Sciences Acquisitions Corp. 2 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13354 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133406 |
| **Health care – 97.6%** |  |  |
| **Biotechnology – 27.2%** | **Biotechnology – 27.2%** |  |
| Aadi Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73131 |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4785272 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454962 |
| ADC Therapeutics SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89042 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255107 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661326 |
| Alector, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109874 |
| Allakos, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164720 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236844 |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6264454 |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718097 |
| Arcus Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165543 |
| Ardelyx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88065 |
| Argenx SE, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4697113 |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888740 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109473 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774919 |
| BeiGene, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678515 |
| Bicycle Therapeutics PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213978 |
| Biogen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830995 |
| Biohaven, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175013 |
| BioMarin Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109723 |
| BioNTech SE, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580014 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891928 |
| Burning Rock Biotech, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27788 |
| C4 Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112932 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550930 |
| Centessa Pharmaceuticals PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55828 |
| Cerevel Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040378 |
| CRISPR Therapeutics AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213453 |
| CureVac NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47034 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423194 |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323682 |
| Deciphera Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155705 |
| Denali Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588543 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148864 |
| Entrada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157170 |
| EQRx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102668 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005400 |
| Exelixis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683705 |
| Exscientia PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22104 |
| Fate Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213696 |
| FibroGen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113742 |
| F-star Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8026 |
| Galapagos NV, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75446 |
| Generation Bio Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148130 |
| Genmab A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387522 |
| Gossamer Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21049 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33869 |
| IGM Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144568 |
| Immatics NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109476 |
| Immuneering Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143929 |
| Immunocore Holdings PLC, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1108585 |
| Immunovant, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63900 |
| Incyte Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307047 |
| Insmed, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925653 |
| Intellia Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271688 |
| Invivyd, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12920 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900172 |
| Iovance Biotherapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221401 |
| IVERIC bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752454 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Karuna Therapeutics, Inc. (A) | 10547 | $&nbsp;&nbsp;&nbsp;2072486 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91238 |
| Kodiak Sciences, Inc. (A) | &nbsp;&nbsp;9449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67655 |
| Kronos Bio, Inc. (A) | &nbsp;&nbsp;2083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3374 |
| Kymera Therapeutics, Inc. (A) | 14979 | &nbsp;&nbsp;&nbsp;&nbsp;373876 |
| Legend Biotech Corp., ADR (A) | 10352 | &nbsp;&nbsp;&nbsp;&nbsp;516772 |
| LianBio, ADR (A) | 38982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63930 |
| Lyell Immunopharma, Inc. (A) | 41100 | &nbsp;&nbsp;&nbsp;&nbsp;142617 |
| MeiraGTx Holdings PLC (A) | 10086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65761 |
| Mirati Therapeutics, Inc. (A) | 10986 | &nbsp;&nbsp;&nbsp;&nbsp;497776 |
| Moderna, Inc. (A) | 18517 | &nbsp;&nbsp;&nbsp;3326024 |
| Monte Rosa Therapeutics, Inc. (A) | 27152 | &nbsp;&nbsp;&nbsp;&nbsp;206627 |
| MoonLake Immunotherapeutics (A) | &nbsp;&nbsp;8947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93944 |
| Morphic Holding, Inc. (A) | &nbsp;&nbsp;5689 | &nbsp;&nbsp;&nbsp;&nbsp;152181 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;6983 | &nbsp;&nbsp;&nbsp;&nbsp;834050 |
| Nurix Therapeutics, Inc. (A) | 10120 | &nbsp;&nbsp;&nbsp;&nbsp;111118 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;2372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70638 |
| Prelude Therapeutics, Inc. (A) | &nbsp;&nbsp;7294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44056 |
| Prime Medicine, Inc. (A) | 12784 | &nbsp;&nbsp;&nbsp;&nbsp;237527 |
| Progenics Pharmaceuticals, Inc. (A)(B) | 21900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25205 |
| Prometheus Biosciences, Inc. (A) | &nbsp;&nbsp;5629 | &nbsp;&nbsp;&nbsp;&nbsp;619190 |
| Prothena Corp. PLC (A) | 11810 | &nbsp;&nbsp;&nbsp;&nbsp;711553 |
| PTC Therapeutics, Inc. (A) | &nbsp;&nbsp;5143 | &nbsp;&nbsp;&nbsp;&nbsp;196308 |
| RAPT Therapeutics, Inc. (A) | 15712 | &nbsp;&nbsp;&nbsp;&nbsp;311098 |
| Regeneron Pharmaceuticals, Inc. (A) | 11653 | &nbsp;&nbsp;&nbsp;8407523 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97524 |
| Relay Therapeutics, Inc. (A) | 21413 | &nbsp;&nbsp;&nbsp;&nbsp;319910 |
| Replimune Group, Inc. (A) | 26425 | &nbsp;&nbsp;&nbsp;&nbsp;718760 |
| REVOLUTION Medicines, Inc. (A) | 21716 | &nbsp;&nbsp;&nbsp;&nbsp;517275 |
| Rocket Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;9847 | &nbsp;&nbsp;&nbsp;&nbsp;192706 |
| Sage Therapeutics, Inc. (A) | 12342 | &nbsp;&nbsp;&nbsp;&nbsp;470724 |
| Sana Biotechnology, Inc. (A) | 28807 | &nbsp;&nbsp;&nbsp;&nbsp;113788 |
| Sarepta Therapeutics, Inc. (A) | &nbsp;&nbsp;8416 | &nbsp;&nbsp;&nbsp;1090545 |
| Scholar Rock Holding Corp. (A) | 33253 | &nbsp;&nbsp;&nbsp;&nbsp;300940 |
| Seagen, Inc. (A) | &nbsp;&nbsp;8555 | &nbsp;&nbsp;&nbsp;1099403 |
| Senti Biosciences, Inc. (A) | 18789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26492 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;2981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77536 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;8627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79627 |
| Tenaya Therapeutics, Inc. (A) | 24566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49378 |
| Twist Bioscience Corp. (A) | &nbsp;&nbsp;8130 | &nbsp;&nbsp;&nbsp;&nbsp;193575 |
| Ultragenyx Pharmaceutical, Inc. (A) | 24815 | &nbsp;&nbsp;&nbsp;1149679 |
| Vertex Pharmaceuticals, Inc. (A) | 21827 | &nbsp;&nbsp;&nbsp;6303201 |
| Voyager Therapeutics, Inc. (A) | 10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64050 |
| Xencor, Inc. (A) | 16855 | &nbsp;&nbsp;&nbsp;&nbsp;438904 |
| Zai Lab, Ltd., ADR (A) | &nbsp;&nbsp;8301 | &nbsp;&nbsp;&nbsp;&nbsp;254841 |
| Zentalis Pharmaceuticals, Inc. (A) | 15240 | &nbsp;&nbsp;&nbsp;&nbsp;306934 |
|  |  | 75747818 |
| **Health care equipment and supplies – 14.4%** | **Health care equipment and supplies – 14.4%** |  |
| Becton, Dickinson and Company | 19317 | &nbsp;&nbsp;&nbsp;4912313 |
| DexCom, Inc. (A) | 20556 | &nbsp;&nbsp;&nbsp;2327761 |
| GE HealthCare Technologies, Inc. (A)(C) | &nbsp;&nbsp;3016 | &nbsp;&nbsp;&nbsp;&nbsp;176074 |
| Hologic, Inc. (A) | 35091 | &nbsp;&nbsp;&nbsp;2625158 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;7791 | &nbsp;&nbsp;&nbsp;&nbsp;495196 |
| Insulet Corp. (A) | &nbsp;&nbsp;7578 | &nbsp;&nbsp;&nbsp;2230887 |
| Intuitive Surgical, Inc. (A) | 31476 | &nbsp;&nbsp;&nbsp;8352157 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;4478 | &nbsp;&nbsp;&nbsp;&nbsp;419454 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;4886 | &nbsp;&nbsp;&nbsp;&nbsp;248991 |
| Nevro Corp. (A) | &nbsp;&nbsp;4319 | &nbsp;&nbsp;&nbsp;&nbsp;171032 |
| Novocure, Ltd. (A) | 21929 | &nbsp;&nbsp;&nbsp;1608492 |
| Penumbra, Inc. (A) | 11826 | &nbsp;&nbsp;&nbsp;2630812 |
| PROCEPT BioRobotics Corp. (A) | 12803 | &nbsp;&nbsp;&nbsp;&nbsp;531837 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;7801 | &nbsp;&nbsp;&nbsp;&nbsp;668312 |
| Shockwave Medical, Inc. (A) | 10070 | &nbsp;&nbsp;&nbsp;2070493 |
| STERIS PLC | &nbsp;&nbsp;4491 | &nbsp;&nbsp;&nbsp;&nbsp;829443 |
| Stryker Corp. | 26031 | &nbsp;&nbsp;&nbsp;6364319 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Health Sciences Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;5890 | $&nbsp;&nbsp;&nbsp;1470321 |
| The Cooper Companies, Inc. | &nbsp;&nbsp;&nbsp;2239 | &nbsp;&nbsp;&nbsp;&nbsp;740370 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;8079 | &nbsp;&nbsp;&nbsp;1030073 |
|  |  | 39903495 |
| **Health care providers and services – 20.7%** | **Health care providers and services – 20.7%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;197568 |
| agilon health, Inc. (A) | &nbsp;&nbsp;13032 | &nbsp;&nbsp;&nbsp;&nbsp;210336 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;25979 | &nbsp;&nbsp;&nbsp;&nbsp;305513 |
| AmerisourceBergen Corp. | &nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;369368 |
| Centene Corp. (A) | &nbsp;&nbsp;58496 | &nbsp;&nbsp;&nbsp;4797257 |
| Cigna Corp. | &nbsp;&nbsp;12281 | &nbsp;&nbsp;&nbsp;4069187 |
| Elevance Health, Inc. | &nbsp;&nbsp;17061 | &nbsp;&nbsp;&nbsp;8751781 |
| Guardant Health, Inc. (A) | &nbsp;&nbsp;18660 | &nbsp;&nbsp;&nbsp;&nbsp;507552 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;10763 | &nbsp;&nbsp;&nbsp;2582689 |
| Humana, Inc. | &nbsp;&nbsp;12192 | &nbsp;&nbsp;&nbsp;6244620 |
| McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp;372494 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;12901 | &nbsp;&nbsp;&nbsp;4260168 |
| Oak Street Health, Inc. (A) | &nbsp;&nbsp;&nbsp;9398 | &nbsp;&nbsp;&nbsp;&nbsp;202151 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;13198 | &nbsp;&nbsp;&nbsp;&nbsp;397128 |
| Sema4 Holdings Corp. (A) | &nbsp;&nbsp;30292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7991 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;10676 | &nbsp;&nbsp;&nbsp;&nbsp;297433 |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;45191 | 23959365 |
|  |  | 57532601 |
| **Health care technology – 1.0%** | **Health care technology – 1.0%** |  |
| Certara, Inc. (A) | &nbsp;&nbsp;17771 | &nbsp;&nbsp;&nbsp;&nbsp;285580 |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;25393 | &nbsp;&nbsp;&nbsp;&nbsp;852189 |
| Sophia Genetics SA (A) | &nbsp;&nbsp;26245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54065 |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;10746 | &nbsp;&nbsp;&nbsp;1734189 |
|  |  | &nbsp;&nbsp;&nbsp;2926023 |
| **Life sciences tools and services – 16.4%** | **Life sciences tools and services – 16.4%** |  |
| 10X Genomics, Inc., Class A (A) | &nbsp;&nbsp;25215 | &nbsp;&nbsp;&nbsp;&nbsp;918835 |
| Adaptive Biotechnologies Corp. (A) | &nbsp;&nbsp;25114 | &nbsp;&nbsp;&nbsp;&nbsp;191871 |
| Agilent Technologies, Inc. | &nbsp;&nbsp;37413 | &nbsp;&nbsp;&nbsp;5598855 |
| Avantor, Inc. (A) | &nbsp;&nbsp;78069 | &nbsp;&nbsp;&nbsp;1646475 |
| Azenta, Inc. (A) | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;139728 |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;754208 |
| Bruker Corp. | &nbsp;&nbsp;34100 | &nbsp;&nbsp;&nbsp;2330735 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;5417 | &nbsp;&nbsp;&nbsp;1180364 |
| Danaher Corp. | &nbsp;&nbsp;39935 | 10599548 |
| Evotec SE (A) | &nbsp;&nbsp;12592 | &nbsp;&nbsp;&nbsp;&nbsp;204848 |
| Illumina, Inc. (A) | &nbsp;&nbsp;&nbsp;6331 | &nbsp;&nbsp;&nbsp;1280128 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1890 | &nbsp;&nbsp;&nbsp;&nbsp;387242 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;1321141 |
| Olink Holding AB, ADR (A) | &nbsp;&nbsp;37166 | &nbsp;&nbsp;&nbsp;&nbsp;943273 |
| Pacific Biosciences of California, Inc. (A) | &nbsp;&nbsp;54894 | &nbsp;&nbsp;&nbsp;&nbsp;449033 |
| Quanterix Corp. (A) | &nbsp;&nbsp;&nbsp;7553 | &nbsp;&nbsp;&nbsp;&nbsp;104609 |
| Rapid Micro Biosystems, Inc., Class A (A) | &nbsp;&nbsp;15325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17317 |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;4188 | &nbsp;&nbsp;&nbsp;&nbsp;709070 |
| Seer, Inc. (A) | &nbsp;&nbsp;19716 | &nbsp;&nbsp;&nbsp;&nbsp;114353 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;25786 | 14200090 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;1547 | &nbsp;&nbsp;&nbsp;&nbsp;529971 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;1529775 |
| WuXi Biologics Cayman, Inc. (A)(D) | &nbsp;&nbsp;57500 | &nbsp;&nbsp;&nbsp;&nbsp;435500 |
|  |  | 45586969 |
| **Pharmaceuticals – 17.9%** | **Pharmaceuticals – 17.9%** |  |
| Arvinas, Inc. (A) | &nbsp;&nbsp;11123 | &nbsp;&nbsp;&nbsp;&nbsp;380518 |
| AstraZeneca PLC, ADR | 139352 | &nbsp;&nbsp;&nbsp;9448066 |
| Catalent, Inc. (A) | &nbsp;&nbsp;18227 | &nbsp;&nbsp;&nbsp;&nbsp;820397 |
| CinCor Pharma, Inc. (A) | &nbsp;&nbsp;11874 | &nbsp;&nbsp;&nbsp;&nbsp;145931 |
| Daiichi Sankyo Company, Ltd. | &nbsp;&nbsp;71600 | &nbsp;&nbsp;&nbsp;2304567 |
| DICE Therapeutics, Inc. (A) | &nbsp;&nbsp;13895 | &nbsp;&nbsp;&nbsp;&nbsp;433524 |
| Eisai Company, Ltd. | &nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;586973 |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;17093 | &nbsp;&nbsp;&nbsp;&nbsp;208876 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;34128 | $&nbsp;&nbsp;&nbsp;12485388 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;9091 | &nbsp;&nbsp;&nbsp;&nbsp;1605925 |
| Longboard Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20388 |
| Merck & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87155 | &nbsp;&nbsp;&nbsp;&nbsp;9669847 |
| Nuvation Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19776 |
| Pfizer, Inc. | &nbsp;&nbsp;123263 | &nbsp;&nbsp;&nbsp;&nbsp;6315996 |
| Pliant Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109814 |
| Relmada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8376 |
| Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;7117 | &nbsp;&nbsp;&nbsp;&nbsp;2236427 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;30588 | &nbsp;&nbsp;&nbsp;&nbsp;1208838 |
| Theseus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100850 |
| Third Harmonic Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27430 |
| Ventyx Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195527 |
| Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377084 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979101 |
|  |  | &nbsp;&nbsp;&nbsp;49689619 |
|  |  | 271386525 |
| **Materials – 0.0%** |  |  |
| **Chemicals – 0.0%** | **Chemicals – 0.0%** |  |
| Ginkgo Bioworks Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;78858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133270 |
| TOTAL COMMON STOCKS (Cost $212,679,387) | TOTAL COMMON STOCKS (Cost $212,679,387) | $272149161 |
| **PREFERRED SECURITIES – 0.7%** |  |  |
| **Health care – 0.7%** |  |  |
| **Life sciences tools and services – 0.7%** | **Life sciences tools and services – 0.7%** |  |
| Sartorius AG | &nbsp;&nbsp;&nbsp;&nbsp;4432 | &nbsp;&nbsp;&nbsp;&nbsp;1750089 |
| TOTAL PREFERRED SECURITIES (Cost $880,522) | TOTAL PREFERRED SECURITIES (Cost $880,522) | $&nbsp;&nbsp;&nbsp;&nbsp;1750089 |
| **WARRANTS – 0.0%** |  |  |
| EQRx, Inc. (Expiration Date: 12-20-26; Strike Price: $11.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;4502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 |
| Sema4 Holdings Corp. (Expiration Date: 7-22-26; Strike Price: $11.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;4862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 |
| SomaLogic, Inc. (Expiration Date: 8-31-26; Strike Price: $11.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 |
| TOTAL WARRANTS (Cost $29,139) | TOTAL WARRANTS (Cost $29,139) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118 |
| **SHORT-TERM INVESTMENTS – 1.3%** | **SHORT-TERM INVESTMENTS – 1.3%** |  |
| **Short-term funds – 1.3%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (E) | &nbsp;&nbsp;670279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670279 |
| T. Rowe Price Government Reserve Fund, 4.2602% (E) | 2976023 | &nbsp;&nbsp;&nbsp;&nbsp;2976023 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,646,302) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,646,302) | $&nbsp;&nbsp;&nbsp;&nbsp;3646302 |
| **Total Investments (Health Sciences Trust)<br> (Cost $217,235,350) – 99.9%** | **Total Investments (Health Sciences Trust)<br> (Cost $217,235,350) – 99.9%** | $**277547670** |
| **Other assets and liabilities, net – 0.1%** | **Other assets and liabilities, net – 0.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**394896** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**277942566** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 96.8%** | **COMMON STOCKS - 96.8%** |  |
| **Australia - 5.0%** |  |  |
| Ampol, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8214 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157893 |
| ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669611 |
| APA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297259 |
| Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428024 |
| ASX, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307334 |
| Aurizon Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160734 |
| BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405114 |
| BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208023 |
| Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405480 |
| Cochlear, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326072 |
| Coles Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521190 |
| Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4086868 |
| Computershare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329914 |
| CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217603 |
| Dexus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207310 |
| Endeavour Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201194 |
| Fortescue Metals Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815834 |
| Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681561 |
| IDP Education, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132599 |
| IGO, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212878 |
| Insurance Australia Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283026 |
| Lendlease Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134746 |
| Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431653 |
| Medibank Private, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198756 |
| Mineral Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307448 |
| Mirvac Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204464 |
| National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195676 |
| Newcrest Mining, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426489 |
| Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294985 |
| Orica, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194172 |
| Origin Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317726 |
| Pilbara Minerals, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219369 |
| Qantas Airways, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128936 |
| QBE Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461677 |
| Ramsay Health Care, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292404 |
| REA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146803 |
| Reece, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111732 |
| Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009854 |
| Santos, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545443 |
| Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348242 |
| SEEK, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169321 |
| Sonic Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331356 |
| South32, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309396 |
| South32, Ltd. (London Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134750 |
| Stockland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215276 |
| Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354629 |
| Telstra Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386276 |
| The GPT Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204284 |
| The Lottery Corp., Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251800 |
| Transurban Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930885 |
| Treasury Wine Estates, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243349 |
| Vicinity, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199921 |
| Washington H. Soul Pattinson & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140016 |
| Wesfarmers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218833 |
| Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893673 |
| WiseTech Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181971 |
| Woodside Energy Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572999 |
| Woolworths Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953929 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38718760 |
| **Austria - 0.1%** |  |  |
| Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375847 |
| OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285136 |
| Verbund AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205273 |

---

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Austria (continued)** |  |  |
| voestalpine AG | &nbsp;&nbsp;&nbsp;4357 | $&nbsp;&nbsp;&nbsp;&nbsp;115413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;981669 |
| **Belgium - 0.6%** |  |  |
| Ageas SA/NV | &nbsp;&nbsp;&nbsp;6383 | &nbsp;&nbsp;&nbsp;&nbsp;283225 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp;29951 | 1803971 |
| D'ieteren Group | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;163125 |
| Elia Group SA/NV | &nbsp;&nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;163202 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;3809 | &nbsp;&nbsp;&nbsp;&nbsp;304406 |
| KBC Group NV | &nbsp;&nbsp;&nbsp;8597 | &nbsp;&nbsp;&nbsp;&nbsp;553519 |
| Sofina SA | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;118571 |
| Solvay SA | &nbsp;&nbsp;&nbsp;2881 | &nbsp;&nbsp;&nbsp;&nbsp;291286 |
| UCB SA | &nbsp;&nbsp;&nbsp;4152 | &nbsp;&nbsp;&nbsp;&nbsp;327150 |
| Umicore SA | &nbsp;&nbsp;&nbsp;7155 | &nbsp;&nbsp;&nbsp;&nbsp;263158 |
| Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;5082 | &nbsp;&nbsp;&nbsp;&nbsp;145582 |
|  |  | 4417195 |
| **Brazil - 1.1%** |  |  |
| Ambev SA | 172330 | &nbsp;&nbsp;&nbsp;&nbsp;471007 |
| Americanas SA | &nbsp;&nbsp;22046 | &nbsp;&nbsp;&nbsp;&nbsp;40209 |
| Atacadao SA | &nbsp;&nbsp;13900 | &nbsp;&nbsp;&nbsp;&nbsp;38954 |
| B3 SA - Brasil Bolsa Balcao | 221721 | &nbsp;&nbsp;&nbsp;&nbsp;553997 |
| Banco Bradesco SA | &nbsp;&nbsp;51324 | &nbsp;&nbsp;&nbsp;&nbsp;130837 |
| Banco BTG Pactual SA | &nbsp;&nbsp;37204 | &nbsp;&nbsp;&nbsp;&nbsp;168291 |
| Banco do Brasil SA | &nbsp;&nbsp;28713 | &nbsp;&nbsp;&nbsp;&nbsp;185757 |
| Banco Santander Brasil SA | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;74842 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp;24400 | &nbsp;&nbsp;&nbsp;&nbsp;155348 |
| BRF SA (A) | &nbsp;&nbsp;26314 | &nbsp;&nbsp;&nbsp;&nbsp;40949 |
| CCR SA | &nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;&nbsp;82288 |
| Centrais Eletricas Brasileiras SA | &nbsp;&nbsp;20247 | &nbsp;&nbsp;&nbsp;&nbsp;160937 |
| Centrais Eletricas Brasileiras SA, ADR | &nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;11718 |
| Cia Brasileira de Distribuicao, ADR | &nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947 |
| Cia de Saneamento Basico do Estado de Sao Paulo | &nbsp;&nbsp;11270 | &nbsp;&nbsp;&nbsp;&nbsp;121331 |
| Cia Siderurgica Nacional SA, ADR | &nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp;32568 |
| Cosan SA | &nbsp;&nbsp;40344 | &nbsp;&nbsp;&nbsp;&nbsp;130744 |
| CPFL Energia SA | &nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;49650 |
| Energisa SA | &nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;51095 |
| Engie Brasil Energia SA | &nbsp;&nbsp;&nbsp;7275 | &nbsp;&nbsp;&nbsp;&nbsp;52240 |
| Equatorial Energia SA | &nbsp;&nbsp;34400 | &nbsp;&nbsp;&nbsp;&nbsp;176200 |
| Hapvida Participacoes e Investimentos S/A (A)(B) | 158579 | &nbsp;&nbsp;&nbsp;&nbsp;152812 |
| Hypera SA | &nbsp;&nbsp;14108 | &nbsp;&nbsp;&nbsp;&nbsp;120973 |
| JBS SA | &nbsp;&nbsp;34073 | &nbsp;&nbsp;&nbsp;&nbsp;142366 |
| Klabin SA | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;90664 |
| Localiza Rent a Car SA | &nbsp;&nbsp;20289 | &nbsp;&nbsp;&nbsp;&nbsp;201465 |
| Lojas Renner SA | &nbsp;&nbsp;32186 | &nbsp;&nbsp;&nbsp;&nbsp;124748 |
| Magazine Luiza SA (A) | &nbsp;&nbsp;94607 | &nbsp;&nbsp;&nbsp;&nbsp;49081 |
| Natura & Company Holding SA | &nbsp;&nbsp;26929 | &nbsp;&nbsp;&nbsp;&nbsp;58521 |
| Petro Rio SA (A) | &nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;&nbsp;169755 |
| Petroleo Brasileiro SA | 133229 | &nbsp;&nbsp;&nbsp;&nbsp;706469 |
| Raia Drogasil SA | &nbsp;&nbsp;35900 | &nbsp;&nbsp;&nbsp;&nbsp;161681 |
| Rede D'Or Sao Luiz SA (B) | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;74854 |
| Rumo SA | &nbsp;&nbsp;45451 | &nbsp;&nbsp;&nbsp;&nbsp;160543 |
| Sendas Distribuidora SA | &nbsp;&nbsp;24690 | &nbsp;&nbsp;&nbsp;&nbsp;91239 |
| Suzano SA | &nbsp;&nbsp;22263 | &nbsp;&nbsp;&nbsp;&nbsp;205556 |
| Suzano SA, ADR | &nbsp;&nbsp;&nbsp;3164 | &nbsp;&nbsp;&nbsp;&nbsp;29235 |
| Telefonica Brasil SA | &nbsp;&nbsp;&nbsp;9652 | &nbsp;&nbsp;&nbsp;&nbsp;69721 |
| Telefonica Brasil SA, ADR | &nbsp;&nbsp;&nbsp;6017 | &nbsp;&nbsp;&nbsp;&nbsp;43022 |
| TIM SA | &nbsp;&nbsp;28020 | &nbsp;&nbsp;&nbsp;&nbsp;65611 |
| TOTVS SA | &nbsp;&nbsp;17746 | &nbsp;&nbsp;&nbsp;&nbsp;92530 |
| Ultrapar Participacoes SA | &nbsp;&nbsp;25400 | &nbsp;&nbsp;&nbsp;&nbsp;60307 |
| Vale SA | 130550 | 2211784 |
| Vibra Energia SA | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;129008 |
| WEG SA | &nbsp;&nbsp;56116 | &nbsp;&nbsp;&nbsp;&nbsp;407643 |
|  |  | 8350497 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada - 7.7%** |  |  |
| Agnico Eagle Mines, Ltd. | 15877 | $&nbsp;&nbsp;&nbsp;&nbsp;825041 |
| Air Canada (A) | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;104540 |
| Algonquin Power & Utilities Corp. | 26389 | &nbsp;&nbsp;&nbsp;&nbsp;171899 |
| Alimentation Couche-Tard, Inc. | 27900 | 1226034 |
| AltaGas, Ltd. | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;198575 |
| ARC Resources, Ltd. | 23500 | &nbsp;&nbsp;&nbsp;&nbsp;316747 |
| Bank of Montreal | 22976 | 2081415 |
| Barrick Gold Corp. | 41577 | &nbsp;&nbsp;&nbsp;&nbsp;712705 |
| Barrick Gold Corp. (London Stock Exchange) | 20657 | &nbsp;&nbsp;&nbsp;&nbsp;365107 |
| BCE, Inc. | &nbsp;&nbsp;2924 | &nbsp;&nbsp;&nbsp;&nbsp;128470 |
| Brookfield Asset Management, Ltd., Class A (A) | 12268 | &nbsp;&nbsp;&nbsp;&nbsp;351278 |
| Brookfield Corp. (A) | 49072 | 1543195 |
| BRP, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;99113 |
| CAE, Inc. (A) | 12000 | &nbsp;&nbsp;&nbsp;&nbsp;232112 |
| Cameco Corp. | 15100 | &nbsp;&nbsp;&nbsp;&nbsp;342259 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;107173 |
| Canadian Imperial Bank of Commerce | 31400 | 1270146 |
| Canadian National Railway Company | 20300 | 2411412 |
| Canadian Natural Resources, Ltd. | 38260 | 2124645 |
| Canadian Pacific Railway, Ltd. | 32300 | 2408187 |
| Canadian Tire Corp., Ltd., Class A | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;219461 |
| Canadian Utilities, Ltd., Class A | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;124513 |
| CCL Industries, Inc., Class B | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;230677 |
| Cenovus Energy, Inc. | 47759 | &nbsp;&nbsp;&nbsp;&nbsp;926609 |
| CGI, Inc. (A) | &nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;680952 |
| Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 1092889 |
| Dollarama, Inc. | &nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;567314 |
| Element Fleet Management Corp. | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;183955 |
| Emera, Inc. | &nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;363091 |
| Empire Company, Ltd., Class A | &nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;163288 |
| Enbridge, Inc. | 69000 | 2696809 |
| Fairfax Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;485152 |
| First Quantum Minerals, Ltd. | 20054 | &nbsp;&nbsp;&nbsp;&nbsp;419001 |
| FirstService Corp. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;183689 |
| Fortis, Inc. | 16539 | &nbsp;&nbsp;&nbsp;&nbsp;661804 |
| Franco-Nevada Corp. | &nbsp;&nbsp;6587 | &nbsp;&nbsp;&nbsp;&nbsp;897904 |
| George Weston, Ltd. | &nbsp;&nbsp;2799 | &nbsp;&nbsp;&nbsp;&nbsp;347270 |
| GFL Environmental, Inc. | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;186895 |
| Gildan Activewear, Inc. | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;199914 |
| Great-West Lifeco, Inc. | &nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp;228855 |
| Hydro One, Ltd. (B) | 11900 | &nbsp;&nbsp;&nbsp;&nbsp;318769 |
| iA Financial Corp., Inc. | &nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;240035 |
| IGM Financial, Inc. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;83752 |
| Imperial Oil, Ltd. | &nbsp;&nbsp;8630 | &nbsp;&nbsp;&nbsp;&nbsp;420346 |
| Intact Financial Corp. | &nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;892498 |
| Ivanhoe Mines, Ltd., Class A (A) | 23800 | &nbsp;&nbsp;&nbsp;&nbsp;188080 |
| Keyera Corp. | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;185757 |
| Kinross Gold Corp. | 45229 | &nbsp;&nbsp;&nbsp;&nbsp;184390 |
| Loblaw Companies, Ltd. | &nbsp;&nbsp;6140 | &nbsp;&nbsp;&nbsp;&nbsp;542896 |
| Lundin Mining Corp. | 26000 | &nbsp;&nbsp;&nbsp;&nbsp;159572 |
| Magna International, Inc. | 10400 | &nbsp;&nbsp;&nbsp;&nbsp;584213 |
| Manulife Financial Corp. (C) | 68000 | 1212851 |
| Metro, Inc. | &nbsp;&nbsp;9057 | &nbsp;&nbsp;&nbsp;&nbsp;501480 |
| National Bank of Canada | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;774849 |
| Northland Power, Inc. | &nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;222122 |
| Nutrien, Ltd. | 18790 | 1371781 |
| Nuvei Corp. (A)(B) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;66075 |
| Onex Corp. | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;130194 |
| Open Text Corp. | &nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;287418 |
| Pan American Silver Corp. | &nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;119151 |
| Parkland Corp. | &nbsp;&nbsp;5416 | &nbsp;&nbsp;&nbsp;&nbsp;118840 |
| Pembina Pipeline Corp. | 18698 | &nbsp;&nbsp;&nbsp;&nbsp;634682 |
| Power Corp. of Canada | 20512 | &nbsp;&nbsp;&nbsp;&nbsp;482502 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Quebecor, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;6400 | $&nbsp;&nbsp;&nbsp;&nbsp;142747 |
| Restaurant Brands International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10546 | &nbsp;&nbsp;&nbsp;&nbsp;682063 |
| RioCan Real Estate Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98315 |
| Ritchie Brothers Auctioneers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;248377 |
| Rogers Communications, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp;&nbsp;&nbsp;566305 |
| Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;47500 | &nbsp;&nbsp;&nbsp;4465842 |
| Saputo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;225282 |
| Shaw Communications, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;16926 | &nbsp;&nbsp;&nbsp;&nbsp;487654 |
| Shopify, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;1354055 |
| Sun Life Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;&nbsp;956211 |
| Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46635 | &nbsp;&nbsp;&nbsp;1479301 |
| TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34197 | &nbsp;&nbsp;&nbsp;1363334 |
| Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;16161 | &nbsp;&nbsp;&nbsp;&nbsp;610752 |
| TELUS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17360 | &nbsp;&nbsp;&nbsp;&nbsp;335020 |
| TFI International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;320496 |
| The Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;2028417 |
| The Descartes Systems Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;202165 |
| The Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;62072 | &nbsp;&nbsp;&nbsp;4019093 |
| Thomson Reuters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5854 | &nbsp;&nbsp;&nbsp;&nbsp;667806 |
| TMX Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;200177 |
| Toromont Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;230925 |
| Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp;539900 |
| West Fraser Timber Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;151637 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15471 | &nbsp;&nbsp;&nbsp;&nbsp;604443 |
| WSP Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;498883 |
|  |  | 60081548 |
| **Chile - 0.1%** |  |  |
| Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;15127 | &nbsp;&nbsp;&nbsp;&nbsp;282386 |
| Banco Santander Chile, ADR | &nbsp;&nbsp;&nbsp;&nbsp;5508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87247 |
| Cencosud SA | &nbsp;&nbsp;&nbsp;&nbsp;61383 | &nbsp;&nbsp;&nbsp;&nbsp;101051 |
| Enel Chile SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;18222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41000 |
| Sociedad Quimica y Minera de Chile SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;4430 | &nbsp;&nbsp;&nbsp;&nbsp;353691 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;865375 |
| **China - 7.8%** |  |  |
| 360 DigiTech, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59044 |
| 37 Interactive Entertainment Network Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12191 |
| 3SBio, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42882 |
| AAC Technologies Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;27342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62072 |
| AECC Aviation Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21870 |
| Agricultural Bank of China, Ltd., Class A | &nbsp;&nbsp;165700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69334 |
| Agricultural Bank of China, Ltd., H Shares | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;342097 |
| Aier Eye Hospital Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67167 |
| Air China, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;84534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75035 |
| Airtac International Group | &nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;126351 |
| Alibaba Group Holding, Ltd. (A) | &nbsp;&nbsp;488800 | &nbsp;&nbsp;&nbsp;5363560 |
| Alibaba Group Holding, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;337209 |
| Aluminum Corp. of China, Ltd., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18662 |
| Aluminum Corp. of China, Ltd., H Shares | &nbsp;&nbsp;131220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55529 |
| Anhui Conch Cement Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34956 |
| Anhui Conch Cement Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;44290 | &nbsp;&nbsp;&nbsp;&nbsp;154327 |
| Anhui Gujing Distillery Company, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57627 |
| Anhui Gujing Distillery Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34463 |
| ANTA Sports Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp;541081 |
| Autohome, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79560 |
| AVIC Industry-Finance Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9434 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| AviChina Industry & Technology Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;72000 | $&nbsp;&nbsp;&nbsp;&nbsp;32286 |
| Baidu, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;80000 | 1140859 |
| Bank of Beijing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;29125 |
| Bank of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;78100 | &nbsp;&nbsp;&nbsp;&nbsp;35484 |
| Bank of China, Ltd., H Shares | 2720563 | &nbsp;&nbsp;&nbsp;&nbsp;984652 |
| Bank of Communications Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;87300 | &nbsp;&nbsp;&nbsp;&nbsp;59487 |
| Bank of Communications Company, Ltd., H Shares | &nbsp;&nbsp;292527 | &nbsp;&nbsp;&nbsp;&nbsp;167880 |
| Bank of Hangzhou Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;21416 |
| Bank of Jiangsu Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;33410 | &nbsp;&nbsp;&nbsp;&nbsp;34993 |
| Bank of Nanjing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;20361 |
| Bank of Ningbo Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13750 | &nbsp;&nbsp;&nbsp;&nbsp;64003 |
| Bank of Shanghai Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;31610 | &nbsp;&nbsp;&nbsp;&nbsp;26857 |
| Baoshan Iron & Steel Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;41300 | &nbsp;&nbsp;&nbsp;&nbsp;33161 |
| Beijing Capital International Airport Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;52789 | &nbsp;&nbsp;&nbsp;&nbsp;38514 |
| Beijing Yuanliu Hongyuan Electronic Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274 |
| Bilibili, Inc., ADR (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;137402 |
| Bilibili, Inc., Class Z (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;12326 |
| BOE Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp;36520 |
| BYD Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;147008 |
| BYD Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;28105 | &nbsp;&nbsp;&nbsp;&nbsp;689528 |
| BYD Electronic International Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;71902 |
| CGN Power Company, Ltd., H Shares (B) | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;86447 |
| Changchun High & New Technology Industry Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;19119 |
| China Cinda Asset Management Company, Ltd., H Shares | &nbsp;&nbsp;304800 | &nbsp;&nbsp;&nbsp;&nbsp;42061 |
| China CITIC Bank Corp., Ltd., H Shares | &nbsp;&nbsp;310800 | &nbsp;&nbsp;&nbsp;&nbsp;137536 |
| China Coal Energy Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;56836 |
| China Communications Services Corp., Ltd., H Shares | &nbsp;&nbsp;129600 | &nbsp;&nbsp;&nbsp;&nbsp;47153 |
| China Conch Venture Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;57900 | &nbsp;&nbsp;&nbsp;&nbsp;125604 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;12466 |
| China Construction Bank Corp., H Shares | 3285914 | 2054976 |
| China Eastern Airlines Corp., Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;&nbsp;12548 |
| China Everbright Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;88600 | &nbsp;&nbsp;&nbsp;&nbsp;39092 |
| China Everbright Bank Company, Ltd., H Shares | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;36537 |
| China Evergrande Group (A) | &nbsp;&nbsp;&nbsp;&nbsp;65959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359 |
| China Feihe, Ltd. (B) | &nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;100752 |
| China Galaxy Securities Company, Ltd., H Shares | &nbsp;&nbsp;129500 | &nbsp;&nbsp;&nbsp;&nbsp;62961 |
| China Greatwall Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9512 |
| China Hongqiao Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;73566 |
| China Huishan Dairy Holdings Company, Ltd. (A)(E) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| China International Capital Corp., Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;98726 |
| China Lesso Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;37341 |
| China Life Insurance Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;23985 |
| China Life Insurance Company, Ltd., H Shares | &nbsp;&nbsp;255624 | &nbsp;&nbsp;&nbsp;&nbsp;436284 |
| China Literature, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;54005 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| China Longyuan Power Group Corp., Ltd., H Shares | &nbsp;&nbsp;114000 | $138577 |
| China Medical System Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;48300 | &nbsp;&nbsp;&nbsp;75579 |
| China Meidong Auto Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;36759 |
| China Merchants Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;45900 | 244742 |
| China Merchants Bank Company, Ltd., H Shares | &nbsp;&nbsp;133823 | 740557 |
| China Merchants Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16510 | &nbsp;&nbsp;&nbsp;31513 |
| China Merchants Shekou Industrial Zone Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;31854 |
| China Minsheng Banking Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;78880 | &nbsp;&nbsp;&nbsp;39132 |
| China Minsheng Banking Corp., Ltd., H Shares | &nbsp;&nbsp;194496 | &nbsp;&nbsp;&nbsp;67209 |
| China National Building Material Company, Ltd., H Shares | &nbsp;&nbsp;138000 | 112756 |
| China National Nuclear Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20900 | &nbsp;&nbsp;&nbsp;18017 |
| China Oilfield Services, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;68065 |
| China Pacific Insurance Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;49289 |
| China Pacific Insurance Group Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;94100 | 208085 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;56700 | &nbsp;&nbsp;&nbsp;35524 |
| China Petroleum & Chemical Corp., H Shares | &nbsp;&nbsp;873361 | 420796 |
| China Railway Group, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;23943 |
| China Railway Group, Ltd., H Shares | &nbsp;&nbsp;144000 | &nbsp;&nbsp;&nbsp;75612 |
| China Resources Mixc Lifestyle Services, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;23400 | 118534 |
| China Shenhua Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;38863 |
| China Shenhua Energy Company, Ltd., H Shares | &nbsp;&nbsp;113500 | 326957 |
| China Southern Airlines Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;15051 |
| China Southern Airlines Company, Ltd., H Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;41503 |
| China State Construction Engineering Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;93340 | &nbsp;&nbsp;&nbsp;72727 |
| China Three Gorges Renewables Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;58700 | &nbsp;&nbsp;&nbsp;47645 |
| China Tourism Group Duty Free Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4300 | 133101 |
| China Tower Corp., Ltd., H Shares (B) | 1496000 | 160531 |
| China Vanke Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;56253 |
| China Vanke Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;56900 | 114468 |
| China Yangtze Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;48900 | 147517 |
| Chinasoft International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;83108 |
| Chongqing Zhifei Biological Products Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;39138 |
| CITIC Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;25185 | &nbsp;&nbsp;&nbsp;71964 |
| CITIC Securities Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;86825 | 174864 |
| CITIC, Ltd. | &nbsp;&nbsp;207967 | 218663 |
| CMOC Group, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;28400 | &nbsp;&nbsp;&nbsp;18515 |
| CMOC Group, Ltd., H Shares | &nbsp;&nbsp;129000 | &nbsp;&nbsp;&nbsp;59097 |
| Contemporary Amperex Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4900 | 276104 |
| COSCO SHIPPING Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;38390 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| COSCO SHIPPING Holdings Company, Ltd., H Shares | 119600 | $121578 |
| Country Garden Holdings Company, Ltd. | 270117 | &nbsp;&nbsp;&nbsp;90988 |
| Country Garden Services Holdings Company, Ltd. | &nbsp;&nbsp;69000 | 169267 |
| CRRC Corp., Ltd., H Shares | 145000 | &nbsp;&nbsp;&nbsp;58409 |
| CSC Financial Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;21133 |
| CSPC Pharmaceutical Group, Ltd. | 303120 | 315570 |
| Dali Foods Group Company, Ltd. (B) | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;33211 |
| Daqo New Energy Corp., ADR (A) | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;96525 |
| Dongfeng Motor Group Company, Ltd., H Shares | &nbsp;&nbsp;91220 | &nbsp;&nbsp;&nbsp;52121 |
| Dongyue Group, Ltd. | &nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;53667 |
| East Money Information Company, Ltd., Class A | &nbsp;&nbsp;25747 | &nbsp;&nbsp;&nbsp;71578 |
| Ecovacs Robotics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;24020 |
| ENN Energy Holdings, Ltd. | &nbsp;&nbsp;26600 | 371550 |
| Eve Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4181 | &nbsp;&nbsp;&nbsp;52667 |
| Everbright Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;18538 |
| Flat Glass Group Company, Ltd., H Shares | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;55312 |
| Focus Media Information Technology Company, Ltd., Class A | &nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;31312 |
| Foshan Haitian Flavouring & Food Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8580 | &nbsp;&nbsp;&nbsp;98019 |
| Fosun International, Ltd. | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;68993 |
| Foxconn Industrial Internet Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;8442 |
| Fuyao Glass Industry Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;22659 |
| Fuyao Glass Industry Group Company, Ltd., H Shares (B) | &nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;86850 |
| Ganfeng Lithium Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3360 | &nbsp;&nbsp;&nbsp;33505 |
| Ganfeng Lithium Group Company, Ltd., H Shares (B) | &nbsp;&nbsp;12039 | &nbsp;&nbsp;&nbsp;89249 |
| GCL System Integration Technology Company, Ltd., Class A (A) | &nbsp;&nbsp;60900 | &nbsp;&nbsp;&nbsp;25455 |
| GDS Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;70108 |
| GDS Holdings, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;7250 |
| Gemdale Corp., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;10668 |
| Genscript Biotech Corp. (A) | &nbsp;&nbsp;40000 | 126267 |
| GF Securities Company, Ltd., Class A | &nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;29333 |
| GF Securities Company, Ltd., H Shares | &nbsp;&nbsp;47800 | &nbsp;&nbsp;&nbsp;68428 |
| GigaDevice Semiconductor, Inc., Class A | &nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;20188 |
| GoerTek, Inc., Class A | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;12570 |
| Great Wall Motor Company, Ltd., H Shares | 104500 | 134619 |
| Greentown China Holdings, Ltd. | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;41935 |
| Greentown Service Group Company, Ltd. | &nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;31646 |
| Guangdong Haid Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;31086 |
| Guangzhou Automobile Group Company, Ltd., H Shares | 100310 | &nbsp;&nbsp;&nbsp;67179 |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;9841 |
| Guosen Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;8418 |
| Guotai Junan Securities Company, Ltd., Class A | &nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;32591 |
| H World Group, Ltd., ADR | &nbsp;&nbsp;&nbsp;6700 | 284214 |
| Haidilao International Holding, Ltd. (A)(B) | &nbsp;&nbsp;38000 | 108378 |
| Haier Smart Home Company, Ltd., Class A | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;47664 |
| Haier Smart Home Company, Ltd., H Shares | &nbsp;&nbsp;83800 | 284424 |
| Haitian International Holdings, Ltd. | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;55970 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Haitong Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18000 | $&nbsp;&nbsp;&nbsp;&nbsp;22478 |
| Haitong Securities Company, Ltd., H Shares | &nbsp;&nbsp;113200 | &nbsp;&nbsp;&nbsp;&nbsp;69427 |
| Hangzhou First Applied Material Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp;37346 |
| Hangzhou Silan Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;12232 |
| Hangzhou Tigermed Consulting Company, Ltd., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;25544 |
| Hangzhou Tigermed Consulting Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;47149 |
| Hansoh Pharmaceutical Group Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;75565 |
| Henan Shuanghui Investment & Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;16392 |
| Hengan International Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;132547 |
| Hengli Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;21185 |
| Hithink RoyalFlush Information Network Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;12737 |
| Hua Hong Semiconductor, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;69304 |
| Huadong Medicine Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;18805 |
| Hualan Biological Engineering, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4030 | &nbsp;&nbsp;&nbsp;&nbsp;13108 |
| Huaneng Power International, Inc., H Shares (A) | &nbsp;&nbsp;149436 | &nbsp;&nbsp;&nbsp;&nbsp;70390 |
| Huatai Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16400 | &nbsp;&nbsp;&nbsp;&nbsp;29998 |
| Huatai Securities Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;&nbsp;55657 |
| Huaxia Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;28500 | &nbsp;&nbsp;&nbsp;&nbsp;21266 |
| Huayu Automotive Systems Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;12674 |
| Hundsun Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;17835 |
| Hygeia Healthcare Holdings Company, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;81336 |
| Iflytek Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;45202 |
| Industrial & Commercial Bank of China, Ltd., Class A | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;74875 |
| Industrial & Commercial Bank of China, Ltd., H Shares | 1927735 | &nbsp;&nbsp;&nbsp;&nbsp;988715 |
| Industrial Bank Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;46200 | &nbsp;&nbsp;&nbsp;&nbsp;116676 |
| Industrial Securities Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;12271 |
| Ingenic Semiconductor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;28341 |
| Inner Mongolia BaoTou Steel Union Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;&nbsp;13458 |
| Inner Mongolia Yili Industrial Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;60474 |
| Inner Mongolia Yitai Coal Company, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;36400 | &nbsp;&nbsp;&nbsp;&nbsp;47992 |
| Innovent Biologics, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;148964 |
| Inspur Electronic Information Industry Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;3248 | &nbsp;&nbsp;&nbsp;&nbsp;10033 |
| iQIYI, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;63600 |
| JA Solar Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4480 | &nbsp;&nbsp;&nbsp;&nbsp;38595 |
| JD Health International, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp;344948 |
| JD.com, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;73673 | 2056703 |
| Jiangsu Expressway Company, Ltd., H Shares | &nbsp;&nbsp;&nbsp;&nbsp;41145 | &nbsp;&nbsp;&nbsp;&nbsp;37454 |
| Jiangsu Hengli Hydraulic Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;26841 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Jiangsu Hengrui Medicine Company, Ltd., Class A | &nbsp;&nbsp;14198 | $&nbsp;&nbsp;&nbsp;&nbsp;78511 |
| Jiangsu King's Luck Brewery JSC, Ltd., Class A | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;20451 |
| Jiangsu Yanghe Brewery Joint-Stock Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;78185 |
| Jiangxi Copper Company, Ltd., H Shares | &nbsp;&nbsp;39075 | &nbsp;&nbsp;&nbsp;&nbsp;57368 |
| Jiumaojiu International Holdings, Ltd. (B) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;58326 |
| Kanzhun, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;59073 |
| KE Holdings, Inc., ADR (A) | &nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp;164728 |
| Kingdee International Software Group Company, Ltd. (A) | &nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;188867 |
| Kingsoft Corp., Ltd. | &nbsp;&nbsp;32800 | &nbsp;&nbsp;&nbsp;&nbsp;108701 |
| Koolearn Technology Holding, Ltd. (A)(B) | &nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;89939 |
| Kuaishou Technology (A)(B) | &nbsp;&nbsp;59600 | &nbsp;&nbsp;&nbsp;&nbsp;535761 |
| Kweichow Moutai Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;618440 |
| Lenovo Group, Ltd. | 257436 | &nbsp;&nbsp;&nbsp;&nbsp;209681 |
| Lens Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;11037 |
| Lepu Medical Technology Beijing Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;13193 |
| Li Auto, Inc., ADR (A) | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;387600 |
| Li Ning Company, Ltd. | &nbsp;&nbsp;80500 | &nbsp;&nbsp;&nbsp;&nbsp;692220 |
| Lingyi iTech Guangdong Company, Class A (A) | &nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8287 |
| Longfor Group Holdings, Ltd. (B) | &nbsp;&nbsp;62600 | &nbsp;&nbsp;&nbsp;&nbsp;192631 |
| LONGi Green Energy Technology Company, Ltd., Class A | &nbsp;&nbsp;15064 | &nbsp;&nbsp;&nbsp;&nbsp;91218 |
| Lufax Holding, Ltd., ADR | &nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp;55872 |
| Luxshare Precision Industry Company, Ltd., Class A | &nbsp;&nbsp;15495 | &nbsp;&nbsp;&nbsp;&nbsp;70600 |
| Luzhou Laojiao Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;106043 |
| Mango Excellent Media Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;14212 |
| Maxscend Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp;23650 |
| Meinian Onehealth Healthcare Holdings Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7311 |
| Meituan, Class B (A)(B) | 150500 | 3334453 |
| Metallurgical Corp. of China, Ltd., Class A | &nbsp;&nbsp;28700 | &nbsp;&nbsp;&nbsp;&nbsp;13097 |
| Microport Scientific Corp. (A) | &nbsp;&nbsp;25019 | &nbsp;&nbsp;&nbsp;&nbsp;65276 |
| Minth Group, Ltd. | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;70179 |
| Muyuan Foods Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9282 | &nbsp;&nbsp;&nbsp;&nbsp;64936 |
| NARI Technology Company, Ltd., Class A | &nbsp;&nbsp;14832 | &nbsp;&nbsp;&nbsp;&nbsp;51835 |
| NAURA Technology Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;35597 |
| NetEase, Inc. | &nbsp;&nbsp;71000 | 1029785 |
| New China Life Insurance Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;19838 |
| New China Life Insurance Company, Ltd., H Shares | &nbsp;&nbsp;29500 | &nbsp;&nbsp;&nbsp;&nbsp;71823 |
| New Hope Liuhe Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;12603 |
| New Oriental Education & Technology Group, Inc. (A) | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;179778 |
| NIO, Inc., ADR (A) | &nbsp;&nbsp;45100 | &nbsp;&nbsp;&nbsp;&nbsp;439725 |
| Nongfu Spring Company, Ltd., H Shares (B) | &nbsp;&nbsp;60400 | &nbsp;&nbsp;&nbsp;&nbsp;340160 |
| Orient Securities Company, Ltd., Class A | &nbsp;&nbsp;12288 | &nbsp;&nbsp;&nbsp;&nbsp;15764 |
| Perfect World Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7946 |
| PetroChina Company, Ltd., Class A | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;25743 |
| PetroChina Company, Ltd., H Shares | 712261 | &nbsp;&nbsp;&nbsp;&nbsp;325356 |
| Pharmaron Beijing Company, Ltd., H Shares (B) | &nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;43289 |
| PICC Property & Casualty Company, Ltd., H Shares | 252363 | &nbsp;&nbsp;&nbsp;&nbsp;238608 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Pinduoduo, Inc., ADR (A) | &nbsp;&nbsp;15900 | $1296645 |
| Ping An Bank Company, Ltd., Class A | &nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp;72107 |
| Ping An Healthcare and Technology Company, Ltd. (A)(B) | &nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;46968 |
| Ping An Insurance Group Company of China, Ltd., Class A | &nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;&nbsp;162227 |
| Ping An Insurance Group Company of China, Ltd., H Shares | 224790 | 1476813 |
| Poly Developments and Holdings Group Company, Ltd., Class A | &nbsp;&nbsp;26500 | &nbsp;&nbsp;&nbsp;&nbsp;57435 |
| Pop Mart International Group, Ltd. (B) | &nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;48328 |
| Postal Savings Bank of China Company, Ltd., H Shares (B) | 331000 | &nbsp;&nbsp;&nbsp;&nbsp;204828 |
| Power Construction Corp. of China, Ltd., Class A | &nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp;20811 |
| Raytron Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp;13890 |
| RLX Technology, Inc., ADR (A) | &nbsp;&nbsp;24900 | &nbsp;&nbsp;&nbsp;&nbsp;57270 |
| Rongsheng Petrochemical Company, Ltd., Class A | &nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;24644 |
| SAIC Motor Corp., Ltd., Class A | &nbsp;&nbsp;17300 | &nbsp;&nbsp;&nbsp;&nbsp;35795 |
| Sangfor Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;11337 |
| Sany Heavy Equipment International Holdings Company, Ltd. | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;38874 |
| Sany Heavy Industry Company, Ltd., Class A | &nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;42111 |
| Seazen Holdings Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;14650 |
| SF Holding Company, Ltd., Class A | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;83704 |
| Shaanxi Coal Industry Company, Ltd., Class A | &nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;35767 |
| Shandong Gold Mining Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5880 | &nbsp;&nbsp;&nbsp;&nbsp;16160 |
| Shandong Gold Mining Company, Ltd., H Shares (B) | &nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp;39729 |
| Shandong Weigao Group Medical Polymer Company, Ltd., H Shares | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;130718 |
| Shanghai Baosight Software Company, Ltd., Class B | &nbsp;&nbsp;22880 | &nbsp;&nbsp;&nbsp;&nbsp;70721 |
| Shanghai Fosun Pharmaceutical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;16201 |
| Shanghai Fosun Pharmaceutical Group Company, Ltd., H Shares | &nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp;55781 |
| Shanghai International Airport Company, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;13255 |
| Shanghai International Port Group Company, Ltd., Class A | &nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp;10515 |
| Shanghai Lujiazui Finance & Trade Zone Development Company, Ltd., B Shares | &nbsp;&nbsp;39240 | &nbsp;&nbsp;&nbsp;&nbsp;31653 |
| Shanghai M&G Stationery, Inc., Class A | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;15781 |
| Shanghai Pharmaceuticals Holding Company, Ltd., H Shares | &nbsp;&nbsp;31100 | &nbsp;&nbsp;&nbsp;&nbsp;51631 |
| Shanghai Pudong Development Bank Company, Ltd., Class A | &nbsp;&nbsp;65300 | &nbsp;&nbsp;&nbsp;&nbsp;68292 |
| Shanxi Xinghuacun Fen Wine Factory Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;80093 |
| Shengyi Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;10552 |
| Shennan Circuits Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;11603 |
| Shenwan Hongyuan Group Company, Ltd., Class A | &nbsp;&nbsp;36200 | &nbsp;&nbsp;&nbsp;&nbsp;20701 |
| Shenzhen Inovance Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5550 | &nbsp;&nbsp;&nbsp;&nbsp;55377 |
| Shenzhen Kangtai Biological Products Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2240 | &nbsp;&nbsp;&nbsp;&nbsp;10134 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Shenzhen Mindray Bio-Medical Electronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2500 | $&nbsp;&nbsp;&nbsp;&nbsp;113369 |
| Shenzhen Overseas Chinese Town Company, Ltd., Class A | &nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;10081 |
| Shenzhou International Group Holdings, Ltd. | &nbsp;&nbsp;28300 | &nbsp;&nbsp;&nbsp;&nbsp;315598 |
| Shimao Services Holdings, Ltd. (A)(B) | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;12153 |
| Sichuan Chuantou Energy Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;17253 |
| Silergy Corp. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;169499 |
| Sinopharm Group Company, Ltd., H Shares | &nbsp;&nbsp;42800 | &nbsp;&nbsp;&nbsp;&nbsp;108332 |
| Smoore International Holdings, Ltd. (B) | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;95104 |
| Songcheng Performance Development Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5760 | &nbsp;&nbsp;&nbsp;&nbsp;12086 |
| Sunac China Holdings, Ltd. (A)(E) | &nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp;45944 |
| Sungrow Power Supply Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;48139 |
| Sunny Optical Technology Group Company, Ltd. | &nbsp;&nbsp;24400 | &nbsp;&nbsp;&nbsp;&nbsp;287771 |
| TAL Education Group, ADR (A) | &nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;90240 |
| TCL Technology Group Corp., Class A | &nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp;11629 |
| TCL Zhonghuan Renewable Energy Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;35622 |
| Tencent Holdings, Ltd. | 214000 | 9073678 |
| Tencent Music Entertainment Group, ADR (A) | &nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp;208656 |
| The People's Insurance Company Group of China, Ltd., H Shares | 265000 | &nbsp;&nbsp;&nbsp;&nbsp;87666 |
| Thunder Software Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;12952 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp;134066 |
| Tongcheng Travel Holdings, Ltd. (A) | &nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp;99364 |
| Tongwei Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;34315 |
| Topsports International Holdings, Ltd. (B) | &nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;50424 |
| TravelSky Technology, Ltd., H Shares | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;65151 |
| Trip.com Group, Ltd., ADR (A) | &nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;650160 |
| Tsingtao Brewery Company, Ltd., H Shares | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;216636 |
| Unigroup Guoxin Microelectronics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;31752 |
| Uni-President China Holdings, Ltd. | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;45915 |
| Unisplendour Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;&nbsp;14911 |
| Vipshop Holdings, Ltd., ADR (A) | &nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp;208692 |
| Walvax Biotechnology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;19593 |
| Wanhua Chemical Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;93069 |
| Want Want China Holdings, Ltd. | 163000 | &nbsp;&nbsp;&nbsp;&nbsp;108616 |
| Weibo Corp., ADR (A) | &nbsp;&nbsp;&nbsp;2390 | &nbsp;&nbsp;&nbsp;&nbsp;45697 |
| Weichai Power Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;14013 |
| Weichai Power Company, Ltd., H Shares | &nbsp;&nbsp;64720 | &nbsp;&nbsp;&nbsp;&nbsp;85572 |
| Wens Foodstuffs Group Company, Ltd., Class A | &nbsp;&nbsp;14160 | &nbsp;&nbsp;&nbsp;&nbsp;39939 |
| Will Semiconductor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;46317 |
| Wuliangye Yibin Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;222646 |
| WUS Printed Circuit Kunshan Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7147 |
| WuXi AppTec Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5544 | &nbsp;&nbsp;&nbsp;&nbsp;64269 |
| WuXi AppTec Company, Ltd., H Shares (B) | &nbsp;&nbsp;12106 | &nbsp;&nbsp;&nbsp;&nbsp;127022 |
| WuXi Biologics Cayman, Inc. (A)(B) | 122500 | &nbsp;&nbsp;&nbsp;&nbsp;927804 |
| Wuxi Shangji Automation Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp;23361 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **China (continued)** |  |  |
| Xiaomi Corp., Class B (A)(B) | 522200 | $&nbsp;&nbsp;&nbsp;&nbsp;724872 |
| Xinjiang Goldwind Science & Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12154 |
| Xinjiang Goldwind Science & Technology Company, Ltd., H Shares | &nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19679 |
| Xinyi Solar Holdings, Ltd. | 172835 | &nbsp;&nbsp;&nbsp;&nbsp;190178 |
| XPeng, Inc., ADR (A) | &nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;143136 |
| Xtep International Holdings, Ltd. | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49803 |
| Yadea Group Holdings, Ltd. (B) | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69929 |
| Yankuang Energy Group Company, Ltd., H Shares | &nbsp;&nbsp;49990 | &nbsp;&nbsp;&nbsp;&nbsp;152052 |
| Yihai International Holding, Ltd. (A) | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56278 |
| Yonyou Network Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18025 |
| Yum China Holdings, Inc. | &nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;841610 |
| Yunda Holding Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6438 |
| Yunnan Baiyao Group Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30609 |
| Yunnan Energy New Material Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33933 |
| Zai Lab, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95170 |
| Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41385 |
| Zhaojin Mining Industry Company, Ltd., H Shares (A) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44216 |
| Zhejiang Chint Electrics Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19078 |
| Zhejiang Dahua Technology Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7789 |
| Zhejiang Expressway Company, Ltd., H Shares | &nbsp;&nbsp;49718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38230 |
| Zhejiang Huayou Cobalt Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26289 |
| Zhejiang Jingsheng Mechanical & Electrical Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23747 |
| Zhejiang NHU Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;6912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18629 |
| Zhejiang Supor Company, Ltd., Class A | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8518 |
| ZhongAn Online P&C Insurance Company, Ltd., H Shares (A)(B) | &nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66180 |
| Zhongsheng Group Holdings, Ltd. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;102442 |
| Zhuzhou CRRC Times Electric Company, Ltd. | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88905 |
| Zijin Mining Group Company, Ltd., Class A | &nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39735 |
| Zijin Mining Group Company, Ltd., H Shares | 193469 | &nbsp;&nbsp;&nbsp;&nbsp;260021 |
| Zoomlion Heavy Industry Science and Technology Company, Ltd., Class A | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11177 |
| ZTE Corp., Class A | &nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28183 |
| ZTE Corp., H Shares | &nbsp;&nbsp;25887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56871 |
| ZTO Express Cayman, Inc., ADR | &nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;413798 |
|  |  | 60778948 |
| **Colombia - 0.0%** |  |  |
| Bancolombia SA, ADR | &nbsp;&nbsp;&nbsp;3847 | &nbsp;&nbsp;&nbsp;&nbsp;109793 |
| **Czech Republic - 0.0%** |  |  |
| CEZ AS | &nbsp;&nbsp;&nbsp;5524 | &nbsp;&nbsp;&nbsp;&nbsp;187855 |
| Komercni banka AS | &nbsp;&nbsp;&nbsp;3440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99409 |
| Moneta Money Bank AS (B) | &nbsp;&nbsp;17731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59635 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;346899 |
| **Denmark - 1.9%** |  |  |
| A.P. Moller - Maersk A/S, Series A | &nbsp;&nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;&nbsp;&nbsp;260055 |
| A.P. Moller - Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp;411903 |
| Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;3694 | &nbsp;&nbsp;&nbsp;&nbsp;489998 |
| Chr. Hansen Holding A/S | &nbsp;&nbsp;&nbsp;4006 | &nbsp;&nbsp;&nbsp;&nbsp;288163 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Denmark (continued)** |  |  |
| Coloplast A/S, B Shares | &nbsp;&nbsp;&nbsp;4360 | $&nbsp;&nbsp;&nbsp;&nbsp;510786 |
| Danske Bank A/S | &nbsp;&nbsp;26235 | &nbsp;&nbsp;&nbsp;&nbsp;517436 |
| Demant A/S (A) | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92023 |
| DSV A/S | &nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;1037380 |
| Genmab A/S (A) | &nbsp;&nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;1011748 |
| Novo Nordisk A/S, B Shares | &nbsp;&nbsp;56527 | &nbsp;&nbsp;&nbsp;7677246 |
| Novozymes A/S, B Shares | &nbsp;&nbsp;&nbsp;7605 | &nbsp;&nbsp;&nbsp;&nbsp;385830 |
| Orsted A/S (B) | &nbsp;&nbsp;&nbsp;6916 | &nbsp;&nbsp;&nbsp;&nbsp;625245 |
| Pandora A/S | &nbsp;&nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp;264207 |
| ROCKWOOL A/S, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82404 |
| Tryg A/S | &nbsp;&nbsp;13079 | &nbsp;&nbsp;&nbsp;&nbsp;310830 |
| Vestas Wind Systems A/S | &nbsp;&nbsp;36668 | &nbsp;&nbsp;&nbsp;1069630 |
|  |  | 15034884 |
| **Egypt - 0.0%** |  |  |
| Commercial International Bank Egypt SAE | 103464 | &nbsp;&nbsp;&nbsp;&nbsp;173780 |
| **Finland - 0.8%** |  |  |
| Elisa OYJ | &nbsp;&nbsp;&nbsp;4868 | &nbsp;&nbsp;&nbsp;&nbsp;258028 |
| Fortum OYJ | &nbsp;&nbsp;16798 | &nbsp;&nbsp;&nbsp;&nbsp;279754 |
| Kesko OYJ, B Shares | &nbsp;&nbsp;&nbsp;9211 | &nbsp;&nbsp;&nbsp;&nbsp;203527 |
| Kone OYJ, B Shares | &nbsp;&nbsp;11833 | &nbsp;&nbsp;&nbsp;&nbsp;612613 |
| Neste OYJ | &nbsp;&nbsp;14709 | &nbsp;&nbsp;&nbsp;&nbsp;678332 |
| Nokia OYJ | 128632 | &nbsp;&nbsp;&nbsp;&nbsp;597584 |
| Nokia OYJ (Euronext Paris Exchange) | &nbsp;&nbsp;56247 | &nbsp;&nbsp;&nbsp;&nbsp;262099 |
| Nordea Bank ABP | 108931 | &nbsp;&nbsp;&nbsp;1166864 |
| Nordea Bank ABP | &nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16846 |
| Orion OYJ, Class B | &nbsp;&nbsp;&nbsp;3379 | &nbsp;&nbsp;&nbsp;&nbsp;185247 |
| Sampo OYJ, A Shares | &nbsp;&nbsp;17039 | &nbsp;&nbsp;&nbsp;&nbsp;889935 |
| Stora Enso OYJ, R Shares | &nbsp;&nbsp;20482 | &nbsp;&nbsp;&nbsp;&nbsp;288785 |
| UPM-Kymmene OYJ | &nbsp;&nbsp;19972 | &nbsp;&nbsp;&nbsp;&nbsp;747377 |
| Wartsila OYJ ABP | &nbsp;&nbsp;15222 | &nbsp;&nbsp;&nbsp;&nbsp;128352 |
|  |  | &nbsp;&nbsp;&nbsp;6315343 |
| **France - 7.4%** |  |  |
| Accor SA (A) | &nbsp;&nbsp;&nbsp;6145 | &nbsp;&nbsp;&nbsp;&nbsp;153302 |
| Aeroports de Paris (A) | &nbsp;&nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;159426 |
| Air Liquide SA | &nbsp;&nbsp;17904 | &nbsp;&nbsp;&nbsp;2541203 |
| Airbus SE | &nbsp;&nbsp;20253 | &nbsp;&nbsp;&nbsp;2408124 |
| Alstom SA | &nbsp;&nbsp;12058 | &nbsp;&nbsp;&nbsp;&nbsp;295018 |
| Amundi SA (B) | &nbsp;&nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp;136952 |
| Arkema SA | &nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;179799 |
| AXA SA | &nbsp;&nbsp;66380 | &nbsp;&nbsp;&nbsp;1849044 |
| BioMerieux | &nbsp;&nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;150451 |
| BNP Paribas SA | &nbsp;&nbsp;38662 | &nbsp;&nbsp;&nbsp;2201375 |
| Bollore SE | &nbsp;&nbsp;32561 | &nbsp;&nbsp;&nbsp;&nbsp;181963 |
| Bouygues SA | &nbsp;&nbsp;&nbsp;8158 | &nbsp;&nbsp;&nbsp;&nbsp;244672 |
| Bureau Veritas SA | &nbsp;&nbsp;10297 | &nbsp;&nbsp;&nbsp;&nbsp;271366 |
| Capgemini SE | &nbsp;&nbsp;&nbsp;5786 | &nbsp;&nbsp;&nbsp;&nbsp;967278 |
| Carrefour SA | &nbsp;&nbsp;23459 | &nbsp;&nbsp;&nbsp;&nbsp;392373 |
| Cie de Saint-Gobain | &nbsp;&nbsp;18075 | &nbsp;&nbsp;&nbsp;&nbsp;884241 |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;23852 | &nbsp;&nbsp;&nbsp;&nbsp;664450 |
| Covivio | &nbsp;&nbsp;&nbsp;2169 | &nbsp;&nbsp;&nbsp;&nbsp;128748 |
| Credit Agricole SA | &nbsp;&nbsp;45282 | &nbsp;&nbsp;&nbsp;&nbsp;476335 |
| Danone SA | &nbsp;&nbsp;22299 | &nbsp;&nbsp;&nbsp;1175281 |
| Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;166201 |
| Dassault Systemes SE | &nbsp;&nbsp;24046 | &nbsp;&nbsp;&nbsp;&nbsp;864683 |
| Edenred | &nbsp;&nbsp;&nbsp;8717 | &nbsp;&nbsp;&nbsp;&nbsp;474424 |
| Eiffage SA | &nbsp;&nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;302469 |
| Electricite de France SA | &nbsp;&nbsp;17250 | &nbsp;&nbsp;&nbsp;&nbsp;221461 |
| Engie SA | &nbsp;&nbsp;66203 | &nbsp;&nbsp;&nbsp;&nbsp;947103 |
| EssilorLuxottica SA | &nbsp;&nbsp;10020 | &nbsp;&nbsp;&nbsp;1812944 |
| Eurazeo SE | &nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;103721 |
| Faurecia SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9602 |
| Gecina SA | &nbsp;&nbsp;&nbsp;1814 | &nbsp;&nbsp;&nbsp;&nbsp;184810 |
| Getlink SE | &nbsp;&nbsp;16925 | &nbsp;&nbsp;&nbsp;&nbsp;271022 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **France (continued)** |  |  |
| Hermes International | &nbsp;&nbsp;&nbsp;1082 | $&nbsp;&nbsp;&nbsp;1674770 |
| Ipsen SA | &nbsp;&nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp;160910 |
| Kering SA | &nbsp;&nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;1307431 |
| Klepierre SA (A) | &nbsp;&nbsp;&nbsp;8046 | &nbsp;&nbsp;&nbsp;&nbsp;185706 |
| La Francaise des Jeux SAEM (B) | &nbsp;&nbsp;&nbsp;3888 | &nbsp;&nbsp;&nbsp;&nbsp;156447 |
| Legrand SA | &nbsp;&nbsp;&nbsp;9699 | &nbsp;&nbsp;&nbsp;&nbsp;777680 |
| L'Oreal SA | &nbsp;&nbsp;&nbsp;8231 | &nbsp;&nbsp;&nbsp;2947492 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;9451 | &nbsp;&nbsp;&nbsp;6877404 |
| Orange SA | &nbsp;&nbsp;72639 | &nbsp;&nbsp;&nbsp;&nbsp;720730 |
| Pernod Ricard SA | &nbsp;&nbsp;&nbsp;7161 | &nbsp;&nbsp;&nbsp;1408726 |
| Publicis Groupe SA | &nbsp;&nbsp;&nbsp;8401 | &nbsp;&nbsp;&nbsp;&nbsp;536673 |
| Remy Cointreau SA | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;157822 |
| Renault SA (A) | &nbsp;&nbsp;&nbsp;7048 | &nbsp;&nbsp;&nbsp;&nbsp;235181 |
| Safran SA | &nbsp;&nbsp;11681 | &nbsp;&nbsp;&nbsp;1463087 |
| Sanofi | &nbsp;&nbsp;39156 | &nbsp;&nbsp;&nbsp;3775666 |
| Sartorius Stedim Biotech SA | &nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;334391 |
| Schneider Electric SE | &nbsp;&nbsp;17968 | &nbsp;&nbsp;&nbsp;2523320 |
| Schneider Electric SE (Euronext London Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88350 |
| SEB SA | &nbsp;&nbsp;&nbsp;1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85495 |
| Societe Generale SA | &nbsp;&nbsp;29342 | &nbsp;&nbsp;&nbsp;&nbsp;736002 |
| Sodexo SA | &nbsp;&nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;307222 |
| Teleperformance | &nbsp;&nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;511837 |
| Thales SA | &nbsp;&nbsp;&nbsp;4046 | &nbsp;&nbsp;&nbsp;&nbsp;516951 |
| TotalEnergies SE | &nbsp;&nbsp;84703 | &nbsp;&nbsp;&nbsp;5317059 |
| Ubisoft Entertainment SA (A) | &nbsp;&nbsp;&nbsp;3643 | &nbsp;&nbsp;&nbsp;&nbsp;102917 |
| Unibail-Rodamco-Westfield (Euronext Amsterdam Exchange) (A) | &nbsp;&nbsp;&nbsp;3595 | &nbsp;&nbsp;&nbsp;&nbsp;187932 |
| Unibail-Rodamco-Westfield, CHESS Depositary Interest (A) | &nbsp;&nbsp;27093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70839 |
| Valeo | &nbsp;&nbsp;&nbsp;8882 | &nbsp;&nbsp;&nbsp;&nbsp;158702 |
| Veolia Environnement SA | &nbsp;&nbsp;23848 | &nbsp;&nbsp;&nbsp;&nbsp;612759 |
| Vinci SA | &nbsp;&nbsp;18446 | &nbsp;&nbsp;&nbsp;1838820 |
| Vivendi SE | &nbsp;&nbsp;29108 | &nbsp;&nbsp;&nbsp;&nbsp;278066 |
| Wendel SE | &nbsp;&nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;109849 |
| Worldline SA (A)(B) | &nbsp;&nbsp;&nbsp;8877 | &nbsp;&nbsp;&nbsp;&nbsp;347644 |
|  |  | 57333721 |
| **Germany - 4.8%** |  |  |
| adidas AG | &nbsp;&nbsp;&nbsp;5907 | &nbsp;&nbsp;&nbsp;&nbsp;800552 |
| Allianz SE | &nbsp;&nbsp;14190 | &nbsp;&nbsp;&nbsp;3030374 |
| BASF SE | &nbsp;&nbsp;31532 | &nbsp;&nbsp;&nbsp;1552587 |
| Bayer AG | &nbsp;&nbsp;33683 | &nbsp;&nbsp;&nbsp;1733661 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;11277 | &nbsp;&nbsp;&nbsp;&nbsp;998406 |
| Bechtle AG | &nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;115058 |
| Beiersdorf AG | &nbsp;&nbsp;&nbsp;3796 | &nbsp;&nbsp;&nbsp;&nbsp;433774 |
| Brenntag SE | &nbsp;&nbsp;&nbsp;5855 | &nbsp;&nbsp;&nbsp;&nbsp;373401 |
| Carl Zeiss Meditec AG, Bearer Shares | &nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;180370 |
| Commerzbank AG (A) | &nbsp;&nbsp;37723 | &nbsp;&nbsp;&nbsp;&nbsp;352694 |
| Continental AG | &nbsp;&nbsp;&nbsp;4116 | &nbsp;&nbsp;&nbsp;&nbsp;245373 |
| Covestro AG (B) | &nbsp;&nbsp;&nbsp;7081 | &nbsp;&nbsp;&nbsp;&nbsp;275847 |
| Daimler Truck Holding AG (A) | &nbsp;&nbsp;15182 | &nbsp;&nbsp;&nbsp;&nbsp;466719 |
| Delivery Hero SE (A)(B) | &nbsp;&nbsp;&nbsp;6014 | &nbsp;&nbsp;&nbsp;&nbsp;288609 |
| Deutsche Bank AG | &nbsp;&nbsp;70362 | &nbsp;&nbsp;&nbsp;&nbsp;790976 |
| Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;6468 | &nbsp;&nbsp;&nbsp;1113722 |
| Deutsche Lufthansa AG (A) | &nbsp;&nbsp;23929 | &nbsp;&nbsp;&nbsp;&nbsp;197248 |
| Deutsche Post AG | &nbsp;&nbsp;33981 | &nbsp;&nbsp;&nbsp;1271791 |
| Deutsche Telekom AG | 110734 | &nbsp;&nbsp;&nbsp;2203221 |
| E.ON SE | &nbsp;&nbsp;76314 | &nbsp;&nbsp;&nbsp;&nbsp;758712 |
| Evonik Industries AG | &nbsp;&nbsp;&nbsp;8081 | &nbsp;&nbsp;&nbsp;&nbsp;154135 |
| Fresenius Medical Care AG & Company KGaA | &nbsp;&nbsp;&nbsp;6818 | &nbsp;&nbsp;&nbsp;&nbsp;222692 |
| Fresenius SE & Company KGaA | &nbsp;&nbsp;15618 | &nbsp;&nbsp;&nbsp;&nbsp;436239 |
| GEA Group AG | &nbsp;&nbsp;&nbsp;5882 | &nbsp;&nbsp;&nbsp;&nbsp;239206 |
| Hannover Rueck SE | &nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;392641 |
| HeidelbergCement AG | &nbsp;&nbsp;&nbsp;5549 | &nbsp;&nbsp;&nbsp;&nbsp;314433 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Germany (continued)** |  |  |
| HelloFresh SE (A) | &nbsp;&nbsp;&nbsp;6177 | $&nbsp;&nbsp;&nbsp;&nbsp;134812 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;3884 | &nbsp;&nbsp;&nbsp;&nbsp;249603 |
| Infineon Technologies AG | &nbsp;&nbsp;44694 | &nbsp;&nbsp;&nbsp;1358332 |
| Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;151184 |
| LEG Immobilien SE | &nbsp;&nbsp;&nbsp;2555 | &nbsp;&nbsp;&nbsp;&nbsp;166633 |
| Mercedes-Benz Group AG | &nbsp;&nbsp;27413 | &nbsp;&nbsp;&nbsp;1792665 |
| Merck KGaA | &nbsp;&nbsp;&nbsp;4683 | &nbsp;&nbsp;&nbsp;&nbsp;903537 |
| MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;&nbsp;&nbsp;428333 |
| Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;4786 | &nbsp;&nbsp;&nbsp;1548125 |
| Nemetschek SE | &nbsp;&nbsp;&nbsp;2010 | &nbsp;&nbsp;&nbsp;&nbsp;102764 |
| Puma SE | &nbsp;&nbsp;&nbsp;3943 | &nbsp;&nbsp;&nbsp;&nbsp;238327 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;122922 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;296224 |
| RWE AG | &nbsp;&nbsp;21783 | &nbsp;&nbsp;&nbsp;&nbsp;962973 |
| SAP SE | &nbsp;&nbsp;35971 | &nbsp;&nbsp;&nbsp;3713659 |
| Scout24 SE (B) | &nbsp;&nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;161621 |
| Siemens AG | &nbsp;&nbsp;26349 | &nbsp;&nbsp;&nbsp;3632231 |
| Siemens Energy AG | &nbsp;&nbsp;15127 | &nbsp;&nbsp;&nbsp;&nbsp;284026 |
| Siemens Healthineers AG (B) | &nbsp;&nbsp;10330 | &nbsp;&nbsp;&nbsp;&nbsp;515276 |
| Symrise AG | &nbsp;&nbsp;&nbsp;4743 | &nbsp;&nbsp;&nbsp;&nbsp;515112 |
| Telefonica Deutschland Holding AG | &nbsp;&nbsp;44170 | &nbsp;&nbsp;&nbsp;&nbsp;108482 |
| United Internet AG | &nbsp;&nbsp;&nbsp;4503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90801 |
| Volkswagen AG | &nbsp;&nbsp;&nbsp;1264 | &nbsp;&nbsp;&nbsp;&nbsp;198290 |
| Vonovia SE | &nbsp;&nbsp;23879 | &nbsp;&nbsp;&nbsp;&nbsp;562502 |
| Zalando SE (A)(B) | &nbsp;&nbsp;&nbsp;8154 | &nbsp;&nbsp;&nbsp;&nbsp;287059 |
|  |  | 37467934 |
| **Greece - 0.1%** |  |  |
| Alpha Services and Holdings SA (A) | &nbsp;&nbsp;74045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79247 |
| Eurobank Ergasias Services and Holdings SA (A) | &nbsp;&nbsp;85715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96546 |
| FF Group (A)(E) | &nbsp;&nbsp;&nbsp;1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001 |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;8503 | &nbsp;&nbsp;&nbsp;&nbsp;132809 |
| JUMBO SA | &nbsp;&nbsp;&nbsp;5651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96920 |
| Mytilineos SA | &nbsp;&nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74236 |
| National Bank of Greece SA (A) | &nbsp;&nbsp;18750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75189 |
| OPAP SA | &nbsp;&nbsp;&nbsp;9908 | &nbsp;&nbsp;&nbsp;&nbsp;140175 |
| Public Power Corp. SA (A) | &nbsp;&nbsp;&nbsp;6989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;747178 |
| **Hong Kong - 2.5%** |  |  |
| AIA Group, Ltd. | 413200 | &nbsp;&nbsp;&nbsp;4563129 |
| Alibaba Health Information Technology, Ltd. (A) | 162000 | &nbsp;&nbsp;&nbsp;&nbsp;136363 |
| Beijing Enterprises Holdings, Ltd. | &nbsp;&nbsp;19786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63173 |
| Beijing Enterprises Water Group, Ltd. | 198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50630 |
| BOC Hong Kong Holdings, Ltd. | 132328 | &nbsp;&nbsp;&nbsp;&nbsp;449227 |
| Bosideng International Holdings, Ltd. | 108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51178 |
| Budweiser Brewing Company APAC, Ltd. (B) | &nbsp;&nbsp;67400 | &nbsp;&nbsp;&nbsp;&nbsp;210692 |
| China Common Rich Renewable Energy Investments, Ltd. (A)(E) | 428695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11808 |
| China Everbright Environment Group, Ltd. | 117851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52477 |
| China Gas Holdings, Ltd. | 104200 | &nbsp;&nbsp;&nbsp;&nbsp;151013 |
| China Jinmao Holdings Group, Ltd. | 242563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51895 |
| China Mengniu Dairy Company, Ltd. (A) | 108004 | &nbsp;&nbsp;&nbsp;&nbsp;487002 |
| China Merchants Port Holdings Company, Ltd. | &nbsp;&nbsp;50141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73205 |
| China Overseas Land & Investment, Ltd. | 131382 | &nbsp;&nbsp;&nbsp;&nbsp;343810 |
| China Overseas Property Holdings, Ltd. | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46619 |
| China Power International Development, Ltd. | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77901 |
| China Resources Beer Holdings Company, Ltd. | &nbsp;&nbsp;55979 | &nbsp;&nbsp;&nbsp;&nbsp;389367 |
| China Resources Cement Holdings, Ltd. | &nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46504 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| China Resources Gas Group, Ltd. | &nbsp;&nbsp;30000 | $&nbsp;&nbsp;&nbsp;&nbsp;111917 |
| China Resources Land, Ltd. | 110964 | &nbsp;&nbsp;&nbsp;&nbsp;504816 |
| China Resources Power Holdings Company, Ltd. | &nbsp;&nbsp;68244 | &nbsp;&nbsp;&nbsp;&nbsp;139060 |
| China Ruyi Holdings, Ltd. (A) | 156000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38894 |
| China State Construction International Holdings, Ltd. | &nbsp;&nbsp;71250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79776 |
| China Taiping Insurance Holdings Company, Ltd. | &nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75066 |
| China Traditional Chinese Medicine Holdings Company, Ltd. | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36280 |
| Chow Tai Fook Jewellery Group, Ltd. | &nbsp;&nbsp;80800 | &nbsp;&nbsp;&nbsp;&nbsp;164199 |
| CK Asset Holdings, Ltd. | &nbsp;&nbsp;73046 | &nbsp;&nbsp;&nbsp;&nbsp;448004 |
| CK Hutchison Holdings, Ltd. | &nbsp;&nbsp;97163 | &nbsp;&nbsp;&nbsp;&nbsp;582089 |
| CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;24772 | &nbsp;&nbsp;&nbsp;&nbsp;129261 |
| CLP Holdings, Ltd. | &nbsp;&nbsp;59400 | &nbsp;&nbsp;&nbsp;&nbsp;432763 |
| COSCO SHIPPING Ports, Ltd. | &nbsp;&nbsp;63353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50277 |
| ESR Group, Ltd. (B) | &nbsp;&nbsp;75200 | &nbsp;&nbsp;&nbsp;&nbsp;157209 |
| Far East Horizon, Ltd. | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51409 |
| Futu Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69105 |
| Galaxy Entertainment Group, Ltd. | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;525973 |
| GCL Technology Holdings, Ltd. (A) | 694000 | &nbsp;&nbsp;&nbsp;&nbsp;175108 |
| Geely Automobile Holdings, Ltd. | 206000 | &nbsp;&nbsp;&nbsp;&nbsp;297574 |
| Guangdong Investment, Ltd. | &nbsp;&nbsp;99220 | &nbsp;&nbsp;&nbsp;&nbsp;101309 |
| Hang Lung Properties, Ltd. | &nbsp;&nbsp;74326 | &nbsp;&nbsp;&nbsp;&nbsp;144788 |
| Hang Seng Bank, Ltd. | &nbsp;&nbsp;27319 | &nbsp;&nbsp;&nbsp;&nbsp;453125 |
| Henderson Land Development Company, Ltd. | &nbsp;&nbsp;55324 | &nbsp;&nbsp;&nbsp;&nbsp;192594 |
| HK Electric Investments, Ltd. | 111500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73724 |
| HKT Trust & HKT, Ltd. | 145233 | &nbsp;&nbsp;&nbsp;&nbsp;177783 |
| Hong Kong & China Gas Company, Ltd. | 404091 | &nbsp;&nbsp;&nbsp;&nbsp;383243 |
| Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;41214 | &nbsp;&nbsp;&nbsp;1770976 |
| Hongkong Land Holdings, Ltd. | &nbsp;&nbsp;44100 | &nbsp;&nbsp;&nbsp;&nbsp;202896 |
| Hopson Development Holdings, Ltd. | &nbsp;&nbsp;29282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28632 |
| Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;274703 |
| Kingboard Holdings, Ltd. | &nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71350 |
| Kingboard Laminates Holdings, Ltd. | &nbsp;&nbsp;36500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39999 |
| Kunlun Energy Company, Ltd. | 134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95268 |
| Link REIT | &nbsp;&nbsp;75539 | &nbsp;&nbsp;&nbsp;&nbsp;552745 |
| MTR Corp., Ltd. | &nbsp;&nbsp;57605 | &nbsp;&nbsp;&nbsp;&nbsp;304664 |
| New World Development Company, Ltd. | &nbsp;&nbsp;57618 | &nbsp;&nbsp;&nbsp;&nbsp;161629 |
| Nine Dragons Paper Holdings, Ltd. | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50003 |
| Orient Overseas International, Ltd. | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81106 |
| Power Assets Holdings, Ltd. | &nbsp;&nbsp;51582 | &nbsp;&nbsp;&nbsp;&nbsp;281920 |
| Shenzhen International Holdings, Ltd. | &nbsp;&nbsp;42351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41455 |
| Shimao Group Holdings, Ltd. (A)(E) | &nbsp;&nbsp;41500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21150 |
| Sino Biopharmaceutical, Ltd. | 346500 | &nbsp;&nbsp;&nbsp;&nbsp;201774 |
| Sino Land Company, Ltd. | 136732 | &nbsp;&nbsp;&nbsp;&nbsp;170544 |
| SITC International Holdings Company, Ltd. | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;115255 |
| Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;49630 | &nbsp;&nbsp;&nbsp;&nbsp;677915 |
| Super Hi International Holding, Ltd. (A) | &nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4839 |
| Swire Pacific, Ltd., Class A | &nbsp;&nbsp;18163 | &nbsp;&nbsp;&nbsp;&nbsp;159215 |
| Swire Properties, Ltd. | &nbsp;&nbsp;43628 | &nbsp;&nbsp;&nbsp;&nbsp;110505 |
| Techtronic Industries Company, Ltd. | &nbsp;&nbsp;49500 | &nbsp;&nbsp;&nbsp;&nbsp;549789 |
| Vinda International Holdings, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35223 |
| WH Group, Ltd. (B) | 320343 | &nbsp;&nbsp;&nbsp;&nbsp;186836 |
| Wharf Real Estate Investment Company, Ltd. | &nbsp;&nbsp;62876 | &nbsp;&nbsp;&nbsp;&nbsp;366199 |
| Xinyi Glass Holdings, Ltd. | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;131178 |
| Yuexiu Property Company, Ltd. | &nbsp;&nbsp;48800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58875 |
|  |  | 19597982 |
| **Hungary - 0.0%** |  |  |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp;12392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86363 |
| OTP Bank NYRT | &nbsp;&nbsp;&nbsp;7225 | &nbsp;&nbsp;&nbsp;&nbsp;196311 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hungary (continued)** |  |  |
| Richter Gedeon NYRT | &nbsp;&nbsp;&nbsp;4794 | $&nbsp;&nbsp;&nbsp;&nbsp;106453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;389127 |
| **India - 4.0%** |  |  |
| ABB India, Ltd. | &nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;58513 |
| ACC, Ltd. | &nbsp;&nbsp;&nbsp;2508 | &nbsp;&nbsp;&nbsp;&nbsp;73980 |
| Adani Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;9077 | &nbsp;&nbsp;&nbsp;&nbsp;421775 |
| Adani Green Energy, Ltd. (A) | &nbsp;&nbsp;10747 | &nbsp;&nbsp;&nbsp;&nbsp;249116 |
| Adani Ports & Special Economic Zone, Ltd. | &nbsp;&nbsp;16979 | &nbsp;&nbsp;&nbsp;&nbsp;167784 |
| Adani Power, Ltd. (A) | &nbsp;&nbsp;26354 | &nbsp;&nbsp;&nbsp;&nbsp;95435 |
| Adani Total Gas, Ltd. | &nbsp;&nbsp;&nbsp;9077 | &nbsp;&nbsp;&nbsp;&nbsp;402250 |
| Adani Transmission, Ltd. (A) | &nbsp;&nbsp;&nbsp;9077 | &nbsp;&nbsp;&nbsp;&nbsp;281337 |
| Ambuja Cements, Ltd. | &nbsp;&nbsp;22913 | &nbsp;&nbsp;&nbsp;&nbsp;144890 |
| Apollo Hospitals Enterprise, Ltd. | &nbsp;&nbsp;&nbsp;3469 | &nbsp;&nbsp;&nbsp;&nbsp;187391 |
| Asian Paints, Ltd. | &nbsp;&nbsp;12839 | &nbsp;&nbsp;&nbsp;&nbsp;477166 |
| AU Small Finance Bank, Ltd. (B) | &nbsp;&nbsp;&nbsp;5380 | &nbsp;&nbsp;&nbsp;&nbsp;42529 |
| Aurobindo Pharma, Ltd. | &nbsp;&nbsp;&nbsp;9153 | &nbsp;&nbsp;&nbsp;&nbsp;48435 |
| Avenue Supermarts, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;5887 | &nbsp;&nbsp;&nbsp;&nbsp;287871 |
| Axis Bank, Ltd. | &nbsp;&nbsp;80176 | &nbsp;&nbsp;&nbsp;&nbsp;903383 |
| Bajaj Auto, Ltd. | &nbsp;&nbsp;&nbsp;2394 | &nbsp;&nbsp;&nbsp;&nbsp;104739 |
| Bajaj Finance, Ltd. | &nbsp;&nbsp;&nbsp;9199 | &nbsp;&nbsp;&nbsp;&nbsp;728896 |
| Bajaj Finserv, Ltd. | &nbsp;&nbsp;13150 | &nbsp;&nbsp;&nbsp;&nbsp;245308 |
| Bajaj Holdings & Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;62935 |
| Balkrishna Industries, Ltd. | &nbsp;&nbsp;&nbsp;2904 | &nbsp;&nbsp;&nbsp;&nbsp;74795 |
| Bandhan Bank, Ltd. (A)(B) | &nbsp;&nbsp;22207 | &nbsp;&nbsp;&nbsp;&nbsp;62688 |
| Berger Paints India, Ltd. | &nbsp;&nbsp;&nbsp;8085 | &nbsp;&nbsp;&nbsp;&nbsp;56739 |
| Bharat Electronics, Ltd. | 121575 | &nbsp;&nbsp;&nbsp;&nbsp;146987 |
| Bharat Forge, Ltd. | &nbsp;&nbsp;&nbsp;9316 | &nbsp;&nbsp;&nbsp;&nbsp;98865 |
| Bharat Petroleum Corp., Ltd. | &nbsp;&nbsp;29814 | &nbsp;&nbsp;&nbsp;&nbsp;119029 |
| Bharti Airtel, Ltd. | &nbsp;&nbsp;75053 | &nbsp;&nbsp;&nbsp;&nbsp;731982 |
| Biocon, Ltd. | &nbsp;&nbsp;14021 | &nbsp;&nbsp;&nbsp;&nbsp;44325 |
| Britannia Industries, Ltd. | &nbsp;&nbsp;&nbsp;3618 | &nbsp;&nbsp;&nbsp;&nbsp;188555 |
| Cholamandalam Investment and Finance Company, Ltd. | &nbsp;&nbsp;13536 | &nbsp;&nbsp;&nbsp;&nbsp;118475 |
| Cipla, Ltd. | &nbsp;&nbsp;18101 | &nbsp;&nbsp;&nbsp;&nbsp;235402 |
| Coal India, Ltd. | &nbsp;&nbsp;53104 | &nbsp;&nbsp;&nbsp;&nbsp;144467 |
| Colgate-Palmolive India, Ltd. | &nbsp;&nbsp;&nbsp;4075 | &nbsp;&nbsp;&nbsp;&nbsp;75716 |
| Container Corp. of India, Ltd. | &nbsp;&nbsp;&nbsp;9153 | &nbsp;&nbsp;&nbsp;&nbsp;81852 |
| Dabur India, Ltd. | &nbsp;&nbsp;21327 | &nbsp;&nbsp;&nbsp;&nbsp;144506 |
| Divi's Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;4431 | &nbsp;&nbsp;&nbsp;&nbsp;183085 |
| DLF, Ltd. | &nbsp;&nbsp;20605 | &nbsp;&nbsp;&nbsp;&nbsp;93044 |
| Dr. Reddy's Laboratories, Ltd., ADR | &nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp;191889 |
| Eicher Motors, Ltd. | &nbsp;&nbsp;&nbsp;4712 | &nbsp;&nbsp;&nbsp;&nbsp;182970 |
| GAIL India, Ltd., GDR | &nbsp;&nbsp;14931 | &nbsp;&nbsp;&nbsp;&nbsp;105408 |
| Godrej Consumer Products, Ltd. (A) | &nbsp;&nbsp;11997 | &nbsp;&nbsp;&nbsp;&nbsp;126570 |
| Godrej Properties, Ltd. (A) | &nbsp;&nbsp;&nbsp;4161 | &nbsp;&nbsp;&nbsp;&nbsp;61367 |
| Grasim Industries, Ltd. | &nbsp;&nbsp;&nbsp;8313 | &nbsp;&nbsp;&nbsp;&nbsp;172411 |
| Havells India, Ltd. | &nbsp;&nbsp;&nbsp;7516 | &nbsp;&nbsp;&nbsp;&nbsp;99914 |
| HCL Technologies, Ltd. | &nbsp;&nbsp;37954 | &nbsp;&nbsp;&nbsp;&nbsp;474924 |
| HDFC Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;32478 | &nbsp;&nbsp;&nbsp;&nbsp;221893 |
| Hero MotoCorp, Ltd. | &nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;138582 |
| Hindalco Industries, Ltd. | &nbsp;&nbsp;56656 | &nbsp;&nbsp;&nbsp;&nbsp;324172 |
| Hindustan Petroleum Corp., Ltd. | &nbsp;&nbsp;20412 | &nbsp;&nbsp;&nbsp;&nbsp;57952 |
| Hindustan Unilever, Ltd. | &nbsp;&nbsp;27831 | &nbsp;&nbsp;&nbsp;&nbsp;860786 |
| Housing Development Finance Corp., Ltd. | &nbsp;&nbsp;58802 | 1872491 |
| ICICI Bank, Ltd. | &nbsp;&nbsp;94927 | 1023420 |
| ICICI Bank, Ltd., ADR | &nbsp;&nbsp;41314 | &nbsp;&nbsp;&nbsp;&nbsp;904363 |
| ICICI Lombard General Insurance Company, Ltd. (B) | &nbsp;&nbsp;&nbsp;8559 | &nbsp;&nbsp;&nbsp;&nbsp;128020 |
| ICICI Prudential Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;11948 | &nbsp;&nbsp;&nbsp;&nbsp;64957 |
| Indian Oil Corp., Ltd. | &nbsp;&nbsp;97345 | &nbsp;&nbsp;&nbsp;&nbsp;89974 |
| Indian Railway Catering & Tourism Corp., Ltd. | &nbsp;&nbsp;&nbsp;7983 | &nbsp;&nbsp;&nbsp;&nbsp;61530 |
| Indraprastha Gas, Ltd. | &nbsp;&nbsp;10515 | &nbsp;&nbsp;&nbsp;&nbsp;52600 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **India (continued)** |  |  |
| Indus Towers, Ltd. | &nbsp;&nbsp;29936 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68896 |
| Info Edge India, Ltd. | &nbsp;&nbsp;&nbsp;2660 | &nbsp;&nbsp;&nbsp;&nbsp;125686 |
| Infosys, Ltd., ADR | 113913 | &nbsp;&nbsp;&nbsp;2051573 |
| InterGlobe Aviation, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;3319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80052 |
| ITC, Ltd. | 101934 | &nbsp;&nbsp;&nbsp;&nbsp;407340 |
| Jindal Steel & Power, Ltd. | &nbsp;&nbsp;13940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98253 |
| JSW Steel, Ltd. | &nbsp;&nbsp;27061 | &nbsp;&nbsp;&nbsp;&nbsp;251698 |
| Jubilant Foodworks, Ltd. | &nbsp;&nbsp;12635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77876 |
| Kotak Mahindra Bank, Ltd. | &nbsp;&nbsp;19140 | &nbsp;&nbsp;&nbsp;&nbsp;420817 |
| Larsen & Toubro, Ltd. | &nbsp;&nbsp;23070 | &nbsp;&nbsp;&nbsp;&nbsp;579946 |
| LTIMindtree, Ltd. (B) | &nbsp;&nbsp;&nbsp;3348 | &nbsp;&nbsp;&nbsp;&nbsp;176183 |
| Lupin, Ltd. | &nbsp;&nbsp;&nbsp;7740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68403 |
| Mahindra & Mahindra, Ltd., GDR | &nbsp;&nbsp;28458 | &nbsp;&nbsp;&nbsp;&nbsp;424079 |
| Marico, Ltd. | &nbsp;&nbsp;17795 | &nbsp;&nbsp;&nbsp;&nbsp;109516 |
| Maruti Suzuki India, Ltd. | &nbsp;&nbsp;&nbsp;4543 | &nbsp;&nbsp;&nbsp;&nbsp;460602 |
| Mphasis, Ltd. | &nbsp;&nbsp;&nbsp;2804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66793 |
| MRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68360 |
| Muthoot Finance, Ltd. | &nbsp;&nbsp;&nbsp;4018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51519 |
| Nestle India, Ltd. | &nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;269317 |
| NTPC, Ltd. | 133259 | &nbsp;&nbsp;&nbsp;&nbsp;268558 |
| Oil & Natural Gas Corp., Ltd. | &nbsp;&nbsp;90136 | &nbsp;&nbsp;&nbsp;&nbsp;160722 |
| Page Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;100526 |
| Petronet LNG, Ltd. | &nbsp;&nbsp;21320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55466 |
| PI Industries, Ltd. | &nbsp;&nbsp;&nbsp;2778 | &nbsp;&nbsp;&nbsp;&nbsp;114995 |
| Pidilite Industries, Ltd. | &nbsp;&nbsp;&nbsp;5254 | &nbsp;&nbsp;&nbsp;&nbsp;162206 |
| Power Grid Corp. of India, Ltd. | 108193 | &nbsp;&nbsp;&nbsp;&nbsp;279270 |
| Reliance Capital, Ltd., GDR (A)(B) | &nbsp;&nbsp;&nbsp;4327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 |
| Reliance Industries, Ltd. | &nbsp;&nbsp;19318 | &nbsp;&nbsp;&nbsp;&nbsp;593028 |
| Reliance Industries, Ltd., GDR (B) | &nbsp;&nbsp;42342 | &nbsp;&nbsp;&nbsp;2597421 |
| Samvardhana Motherson International, Ltd. | &nbsp;&nbsp;55959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50174 |
| SBI Cards & Payment Services, Ltd. | &nbsp;&nbsp;&nbsp;7827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75116 |
| SBI Life Insurance Company, Ltd. (B) | &nbsp;&nbsp;15378 | &nbsp;&nbsp;&nbsp;&nbsp;228649 |
| Shree Cement, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;104605 |
| Shriram Finance, Ltd. | &nbsp;&nbsp;&nbsp;6993 | &nbsp;&nbsp;&nbsp;&nbsp;116431 |
| Siemens, Ltd. | &nbsp;&nbsp;&nbsp;2378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81040 |
| SRF, Ltd. | &nbsp;&nbsp;&nbsp;4927 | &nbsp;&nbsp;&nbsp;&nbsp;136287 |
| State Bank of India, GDR | &nbsp;&nbsp;&nbsp;5914 | &nbsp;&nbsp;&nbsp;&nbsp;436980 |
| Sun Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;32788 | &nbsp;&nbsp;&nbsp;&nbsp;395951 |
| Tata Consultancy Services, Ltd. | &nbsp;&nbsp;31616 | &nbsp;&nbsp;&nbsp;1242564 |
| Tata Consumer Products, Ltd. | &nbsp;&nbsp;22130 | &nbsp;&nbsp;&nbsp;&nbsp;206161 |
| Tata Elxsi, Ltd. | &nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88841 |
| Tata Motors, Ltd. (A) | &nbsp;&nbsp;19116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89527 |
| Tata Motors, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;7109 | &nbsp;&nbsp;&nbsp;&nbsp;164289 |
| Tata Steel, Ltd., GDR | &nbsp;&nbsp;23852 | &nbsp;&nbsp;&nbsp;&nbsp;321845 |
| Tech Mahindra, Ltd. | &nbsp;&nbsp;22395 | &nbsp;&nbsp;&nbsp;&nbsp;274376 |
| The Indian Hotels Company, Ltd. | &nbsp;&nbsp;29101 | &nbsp;&nbsp;&nbsp;&nbsp;111896 |
| The Tata Power Company, Ltd. | &nbsp;&nbsp;47830 | &nbsp;&nbsp;&nbsp;&nbsp;120020 |
| Titan Company, Ltd. | &nbsp;&nbsp;12240 | &nbsp;&nbsp;&nbsp;&nbsp;383684 |
| Torrent Pharmaceuticals, Ltd. | &nbsp;&nbsp;&nbsp;3534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66042 |
| Trent, Ltd. | &nbsp;&nbsp;&nbsp;6052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98641 |
| Tube Investments of India, Ltd. | &nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp;&nbsp;&nbsp;120680 |
| TVS Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95564 |
| UltraTech Cement, Ltd. | &nbsp;&nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;206117 |
| UltraTech Cement, Ltd., GDR | &nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86305 |
| United Spirits, Ltd. (A) | &nbsp;&nbsp;10125 | &nbsp;&nbsp;&nbsp;&nbsp;107073 |
| UPL, Ltd. | &nbsp;&nbsp;17118 | &nbsp;&nbsp;&nbsp;&nbsp;148060 |
| Varun Beverages, Ltd. | &nbsp;&nbsp;&nbsp;7763 | &nbsp;&nbsp;&nbsp;&nbsp;123968 |
| Vedanta, Ltd. | &nbsp;&nbsp;25335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94325 |
| Wipro, Ltd., ADR | &nbsp;&nbsp;51326 | &nbsp;&nbsp;&nbsp;&nbsp;239179 |
| Yes Bank, Ltd. (A) | 334558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83636 |
| Zomato, Ltd. (A) | &nbsp;&nbsp;52192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37478 |
|  |  | 31125522 |
| **Indonesia - 0.5%** |  |  |
| Adaro Energy Indonesia Tbk PT | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78030 |
| Aneka Tambang Tbk | 287300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36561 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Indonesia (continued)** |  |  |
| Astra International Tbk PT | &nbsp;&nbsp;679000 | $&nbsp;&nbsp;&nbsp;&nbsp;248480 |
| Bank Central Asia Tbk PT | 1804500 | &nbsp;&nbsp;&nbsp;&nbsp;989476 |
| Bank Jago Tbk PT (A) | &nbsp;&nbsp;143300 | &nbsp;&nbsp;&nbsp;&nbsp;34202 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp;715674 | &nbsp;&nbsp;&nbsp;&nbsp;456381 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp;276500 | &nbsp;&nbsp;&nbsp;&nbsp;163817 |
| Bank Rakyat Indonesia Persero Tbk PT | 2374148 | &nbsp;&nbsp;&nbsp;&nbsp;752724 |
| Barito Pacific Tbk PT | 1278862 | &nbsp;&nbsp;&nbsp;&nbsp;62007 |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;100186 |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;97300 | &nbsp;&nbsp;&nbsp;&nbsp;54519 |
| Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp;114400 | &nbsp;&nbsp;&nbsp;&nbsp;73461 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp;147500 | &nbsp;&nbsp;&nbsp;&nbsp;63761 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;114781 |
| Merdeka Copper Gold Tbk PT (A) | &nbsp;&nbsp;511905 | &nbsp;&nbsp;&nbsp;&nbsp;135242 |
| Sarana Menara Nusantara Tbk PT | &nbsp;&nbsp;949300 | &nbsp;&nbsp;&nbsp;&nbsp;67108 |
| Semen Indonesia Persero Tbk PT | &nbsp;&nbsp;126835 | &nbsp;&nbsp;&nbsp;&nbsp;53563 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp;567500 | &nbsp;&nbsp;&nbsp;&nbsp;96718 |
| Telkom Indonesia Persero Tbk PT | 1600100 | &nbsp;&nbsp;&nbsp;&nbsp;385324 |
| Telkom Indonesia Persero Tbk PT, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8538 |
| Unilever Indonesia Tbk PT | &nbsp;&nbsp;332500 | &nbsp;&nbsp;&nbsp;&nbsp;100440 |
| United Tractors Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;55279 | &nbsp;&nbsp;&nbsp;&nbsp;92663 |
| Vale Indonesia Tbk PT (A) | &nbsp;&nbsp;&nbsp;&nbsp;84900 | &nbsp;&nbsp;&nbsp;&nbsp;38620 |
|  |  | 4206602 |
| **Ireland - 0.7%** |  |  |
| AerCap Holdings NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;268272 |
| AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;36515 | &nbsp;&nbsp;&nbsp;&nbsp;140159 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;36548 | &nbsp;&nbsp;&nbsp;&nbsp;348276 |
| CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;27337 | 1087193 |
| DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;3819 | &nbsp;&nbsp;&nbsp;&nbsp;187789 |
| Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;31438 | 1064758 |
| Flutter Entertainment PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;69201 |
| Flutter Entertainment PLC (London Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;&nbsp;5220 | &nbsp;&nbsp;&nbsp;&nbsp;706707 |
| James Hardie Industries PLC, CHESS Depositary Interest | &nbsp;&nbsp;&nbsp;&nbsp;15679 | &nbsp;&nbsp;&nbsp;&nbsp;282196 |
| Kerry Group PLC, Class A (London Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;5738 | &nbsp;&nbsp;&nbsp;&nbsp;523046 |
| Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;5492 | &nbsp;&nbsp;&nbsp;&nbsp;297445 |
| Smurfit Kappa Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;8017 | &nbsp;&nbsp;&nbsp;&nbsp;295432 |
|  |  | 5270474 |
| **Israel - 0.5%** |  |  |
| Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp;&nbsp;&nbsp;94964 |
| Bank Hapoalim BM | &nbsp;&nbsp;&nbsp;&nbsp;40928 | &nbsp;&nbsp;&nbsp;&nbsp;368513 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp;&nbsp;&nbsp;54437 | &nbsp;&nbsp;&nbsp;&nbsp;453395 |
| Bezeq The Israeli Telecommunication Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70881 | &nbsp;&nbsp;&nbsp;&nbsp;121597 |
| Check Point Software Technologies, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3516 | &nbsp;&nbsp;&nbsp;&nbsp;443579 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;168545 |
| Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;147670 |
| ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27153 | &nbsp;&nbsp;&nbsp;&nbsp;196193 |
| Isracard, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;41515 | &nbsp;&nbsp;&nbsp;&nbsp;217951 |
| Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;178902 |
| Nice, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;423232 |
| Teva Pharmaceutical Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;33126 | &nbsp;&nbsp;&nbsp;&nbsp;305476 |
| Teva Pharmaceutical Industries, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;52896 |
| Tower Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3727 | &nbsp;&nbsp;&nbsp;&nbsp;162685 |
| Wix.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;145977 |
| ZIM Integrated Shipping Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;49851 |
|  |  | 3531428 |
| **Italy - 1.3%** |  |  |
| Amplifon SpA | &nbsp;&nbsp;&nbsp;&nbsp;4902 | &nbsp;&nbsp;&nbsp;&nbsp;146372 |
| Assicurazioni Generali SpA | &nbsp;&nbsp;&nbsp;&nbsp;40288 | &nbsp;&nbsp;&nbsp;&nbsp;716419 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Italy (continued)** |  |  |
| Davide Campari-Milano NV | &nbsp;&nbsp;19587 | $&nbsp;&nbsp;&nbsp;&nbsp;198852 |
| DiaSorin SpA | &nbsp;&nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;143843 |
| Enel SpA | 277871 | &nbsp;&nbsp;&nbsp;1494425 |
| Eni SpA | &nbsp;&nbsp;85367 | &nbsp;&nbsp;&nbsp;1213869 |
| Ferrari NV | &nbsp;&nbsp;&nbsp;4565 | &nbsp;&nbsp;&nbsp;&nbsp;978909 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp;22882 | &nbsp;&nbsp;&nbsp;&nbsp;379980 |
| Infrastrutture Wireless Italiane SpA (B) | &nbsp;&nbsp;13854 | &nbsp;&nbsp;&nbsp;&nbsp;139762 |
| Intesa Sanpaolo SpA | 593427 | &nbsp;&nbsp;&nbsp;1314680 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;23836 | &nbsp;&nbsp;&nbsp;&nbsp;229041 |
| Moncler SpA | &nbsp;&nbsp;&nbsp;7601 | &nbsp;&nbsp;&nbsp;&nbsp;403892 |
| Nexi SpA (A)(B) | &nbsp;&nbsp;17962 | &nbsp;&nbsp;&nbsp;&nbsp;141790 |
| Poste Italiane SpA (B) | &nbsp;&nbsp;21903 | &nbsp;&nbsp;&nbsp;&nbsp;213695 |
| Prysmian SpA | &nbsp;&nbsp;&nbsp;9656 | &nbsp;&nbsp;&nbsp;&nbsp;358772 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;4564 | &nbsp;&nbsp;&nbsp;&nbsp;189715 |
| Snam SpA | &nbsp;&nbsp;75312 | &nbsp;&nbsp;&nbsp;&nbsp;365174 |
| Telecom Italia SpA (A) | 387741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89859 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;52599 | &nbsp;&nbsp;&nbsp;&nbsp;388453 |
| UniCredit SpA | &nbsp;&nbsp;65599 | &nbsp;&nbsp;&nbsp;&nbsp;930818 |
|  |  | 10038320 |
| **Japan - 14.1%** |  |  |
| Advantest Corp. | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;467555 |
| Aeon Company, Ltd. | &nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;&nbsp;508883 |
| AGC, Inc. | &nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;242256 |
| Aisin Corp. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;121969 |
| Ajinomoto Company, Inc. | &nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp;498182 |
| ANA Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;141892 |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;&nbsp;519831 |
| Asahi Intecc Company, Ltd. | &nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;145179 |
| Asahi Kasei Corp. | &nbsp;&nbsp;46700 | &nbsp;&nbsp;&nbsp;&nbsp;332438 |
| Astellas Pharma, Inc. | &nbsp;&nbsp;63300 | &nbsp;&nbsp;&nbsp;&nbsp;962517 |
| Azbil Corp. | &nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;105451 |
| Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;7399 | &nbsp;&nbsp;&nbsp;&nbsp;463765 |
| Bridgestone Corp. | &nbsp;&nbsp;19300 | &nbsp;&nbsp;&nbsp;&nbsp;683357 |
| Brother Industries, Ltd. | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;131489 |
| Canon, Inc. | &nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp;731570 |
| Capcom Company, Ltd. | &nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;191523 |
| Central Japan Railway Company | &nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;650732 |
| Chubu Electric Power Company, Inc. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;227491 |
| Chugai Pharmaceutical Company, Ltd. | &nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp;579004 |
| Concordia Financial Group, Ltd. | &nbsp;&nbsp;39100 | &nbsp;&nbsp;&nbsp;&nbsp;163259 |
| CyberAgent, Inc. | &nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;128200 |
| Dai Nippon Printing Company, Ltd. | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;168752 |
| Daifuku Company, Ltd. | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;163150 |
| Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;767835 |
| Daiichi Sankyo Company, Ltd. | &nbsp;&nbsp;59700 | &nbsp;&nbsp;&nbsp;1921545 |
| Daikin Industries, Ltd. | &nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;1289566 |
| Daito Trust Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;235481 |
| Daiwa House Industry Company, Ltd. | &nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp;479154 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;173913 |
| Daiwa Securities Group, Inc. | &nbsp;&nbsp;54400 | &nbsp;&nbsp;&nbsp;&nbsp;240383 |
| Denso Corp. | &nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;&nbsp;720885 |
| Dentsu Group, Inc. | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;235280 |
| Disco Corp. | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;285021 |
| East Japan Railway Company | &nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;632233 |
| Eisai Company, Ltd. | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;580378 |
| ENEOS Holdings, Inc. | 109211 | &nbsp;&nbsp;&nbsp;&nbsp;371909 |
| FANUC Corp. | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;972703 |
| Fast Retailing Company, Ltd. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;1217067 |
| Fuji Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;173601 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;610018 |
| Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;893228 |
| GLP J-REIT | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;190027 |
| GMO Payment Gateway, Inc. | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;124049 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;9300 | $&nbsp;&nbsp;&nbsp;&nbsp;93335 |
| Hamamatsu Photonics KK | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;229093 |
| Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;248872 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;112603 |
| Hirose Electric Company, Ltd. | &nbsp;&nbsp;1223 | &nbsp;&nbsp;&nbsp;&nbsp;153390 |
| Hitachi Construction Machinery Company, Ltd. | &nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;91374 |
| Hitachi, Ltd. | 33100 | 1665469 |
| Honda Motor Company, Ltd. | 55800 | 1272743 |
| Hoshizaki Corp. | &nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;133616 |
| Hoya Corp. | 12700 | 1216388 |
| Hulic Company, Ltd. | 15600 | &nbsp;&nbsp;&nbsp;&nbsp;122500 |
| Ibiden Company, Ltd. | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;129825 |
| Idemitsu Kosan Company, Ltd. | &nbsp;&nbsp;7206 | &nbsp;&nbsp;&nbsp;&nbsp;168704 |
| Iida Group Holdings Company, Ltd. | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;75915 |
| Inpex Corp. | 36700 | &nbsp;&nbsp;&nbsp;&nbsp;394357 |
| Isuzu Motors, Ltd. | 22400 | &nbsp;&nbsp;&nbsp;&nbsp;259681 |
| Ito En, Ltd. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;69149 |
| ITOCHU Corp. | 40600 | 1273734 |
| Itochu Techno-Solutions Corp. | &nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;78866 |
| Japan Airlines Company, Ltd. (A) | &nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;126280 |
| Japan Exchange Group, Inc. | 18100 | &nbsp;&nbsp;&nbsp;&nbsp;260872 |
| Japan Metropolitan Fund Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;206038 |
| Japan Post Bank Company, Ltd. | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;120021 |
| Japan Post Holdings Company, Ltd. | 89400 | &nbsp;&nbsp;&nbsp;&nbsp;752208 |
| Japan Post Insurance Company, Ltd. | &nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;145973 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;206438 |
| Japan Tobacco, Inc. | 43600 | &nbsp;&nbsp;&nbsp;&nbsp;878986 |
| JFE Holdings, Inc. | 18300 | &nbsp;&nbsp;&nbsp;&nbsp;212344 |
| JSR Corp. | &nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;154692 |
| Kajima Corp. | 16500 | &nbsp;&nbsp;&nbsp;&nbsp;192016 |
| Kakaku.com, Inc. | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;80228 |
| Kao Corp. | 17300 | &nbsp;&nbsp;&nbsp;&nbsp;686818 |
| KDDI Corp. | 55200 | 1674045 |
| Keio Corp. | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;135530 |
| Keisei Electric Railway Company, Ltd. | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;136374 |
| Keyence Corp. | &nbsp;&nbsp;6696 | 2599687 |
| Kikkoman Corp. | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;273710 |
| Kintetsu Group Holdings Company, Ltd. | &nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;204701 |
| Kirin Holdings Company, Ltd. | 30500 | &nbsp;&nbsp;&nbsp;&nbsp;464864 |
| Kobayashi Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;123377 |
| Kobe Bussan Company, Ltd. | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;158517 |
| Koei Tecmo Holdings Company, Ltd. | &nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;70537 |
| Koito Manufacturing Company, Ltd. | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;104357 |
| Komatsu, Ltd. | 32000 | &nbsp;&nbsp;&nbsp;&nbsp;691652 |
| Konami Group Corp. | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;167842 |
| Kose Corp. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;130384 |
| Kubota Corp. | 37500 | &nbsp;&nbsp;&nbsp;&nbsp;512304 |
| Kurita Water Industries, Ltd. | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;144567 |
| Kyocera Corp. | 11700 | &nbsp;&nbsp;&nbsp;&nbsp;580749 |
| Kyowa Kirin Company, Ltd. | &nbsp;&nbsp;9473 | &nbsp;&nbsp;&nbsp;&nbsp;216969 |
| Lasertec Corp. | &nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;457158 |
| Lixil Corp. | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;135685 |
| M3, Inc. | 16200 | &nbsp;&nbsp;&nbsp;&nbsp;440046 |
| Makita Corp. | &nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;181703 |
| Marubeni Corp. | 57400 | &nbsp;&nbsp;&nbsp;&nbsp;657571 |
| Mazda Motor Corp. | 20300 | &nbsp;&nbsp;&nbsp;&nbsp;152170 |
| McDonald's Holdings Company Japan, Ltd. | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;98817 |
| MEIJI Holdings Company, Ltd. | &nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;240914 |
| MINEBEA MITSUMI, Inc. | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;185201 |
| MISUMI Group, Inc. | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp;212996 |
| Mitsubishi Chemical Group Corp. | 46900 | &nbsp;&nbsp;&nbsp;&nbsp;242802 |
| Mitsubishi Corp. | 44800 | 1454423 |
| Mitsubishi Electric Corp. | 66500 | &nbsp;&nbsp;&nbsp;&nbsp;658945 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Mitsubishi Estate Company, Ltd. | &nbsp;&nbsp;41300 | $&nbsp;&nbsp;&nbsp;&nbsp;534983 |
| Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp;135260 |
| Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;462344 |
| Mitsubishi UFJ Financial Group, Inc. | 409100 | 2746459 |
| Mitsui & Company, Ltd. | &nbsp;&nbsp;47700 | 1389297 |
| Mitsui Chemicals, Inc. | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;152733 |
| Mitsui Fudosan Company, Ltd. | &nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;614106 |
| Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;299854 |
| Mizuho Financial Group, Inc. | &nbsp;&nbsp;82110 | 1156790 |
| MonotaRO Company, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;126773 |
| MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp;495532 |
| Murata Manufacturing Company, Ltd. | &nbsp;&nbsp;19600 | &nbsp;&nbsp;&nbsp;&nbsp;966578 |
| NEC Corp. | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;308609 |
| Nexon Company, Ltd. | &nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;417583 |
| NGK Insulators, Ltd. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;114098 |
| Nidec Corp. | &nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp;787325 |
| Nihon M&A Center Holdings, Inc. | &nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp;127969 |
| Nintendo Company, Ltd. | &nbsp;&nbsp;38000 | 1597770 |
| Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;250421 |
| Nippon Express Holdings, Inc. | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;177039 |
| Nippon Paint Holdings Company, Ltd. | &nbsp;&nbsp;32100 | &nbsp;&nbsp;&nbsp;&nbsp;252117 |
| Nippon Prologis REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;187566 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;94155 |
| Nippon Shinyaku Company, Ltd. | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;96474 |
| Nippon Steel Corp. | &nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp;482362 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;40800 | 1163555 |
| Nippon Yusen KK | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;424452 |
| Nissan Chemical Corp. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;200593 |
| Nissan Motor Company, Ltd. | &nbsp;&nbsp;86400 | &nbsp;&nbsp;&nbsp;&nbsp;270382 |
| Nisshin Seifun Group, Inc. | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;93003 |
| Nissin Foods Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;174228 |
| Nitori Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;365855 |
| Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;311011 |
| Nomura Holdings, Inc. | 109800 | &nbsp;&nbsp;&nbsp;&nbsp;406861 |
| Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;96223 |
| Nomura Real Estate Master Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;187073 |
| Nomura Research Institute, Ltd. | &nbsp;&nbsp;12546 | &nbsp;&nbsp;&nbsp;&nbsp;298268 |
| NTT Data Corp. | &nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;327887 |
| Obayashi Corp. | &nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp;169956 |
| Obic Company, Ltd. | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;381704 |
| Odakyu Electric Railway Company, Ltd. | &nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;&nbsp;141160 |
| Oji Holdings Corp. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;121170 |
| Olympus Corp. | &nbsp;&nbsp;42200 | &nbsp;&nbsp;&nbsp;&nbsp;744306 |
| Omron Corp. | &nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;333462 |
| Ono Pharmaceutical Company, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;327230 |
| Open House Group Company, Ltd. | &nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;98307 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;97532 |
| Oriental Land Company, Ltd. | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;989564 |
| ORIX Corp. | &nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;662675 |
| Osaka Gas Company, Ltd. | &nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;222361 |
| Otsuka Corp. | &nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;119777 |
| Otsuka Holdings Company, Ltd. | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;443533 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;278612 |
| Panasonic Holdings Corp. | &nbsp;&nbsp;80300 | &nbsp;&nbsp;&nbsp;&nbsp;672032 |
| Persol Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;131872 |
| Rakuten Group, Inc. | &nbsp;&nbsp;29700 | &nbsp;&nbsp;&nbsp;&nbsp;133860 |
| Recruit Holdings Company, Ltd. | &nbsp;&nbsp;49300 | 1543188 |
| Renesas Electronics Corp. (A) | &nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;&nbsp;354414 |
| Resona Holdings, Inc. | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;428409 |
| Ricoh Company, Ltd. | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;182668 |
| Rohm Company, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;215068 |
| SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;9513 | &nbsp;&nbsp;&nbsp;&nbsp;181249 |
| SCSK Corp. | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;81738 |
| Secom Company, Ltd. | &nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;445051 |
| Seiko Epson Corp. | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;139671 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Sekisui Chemical Company, Ltd. | &nbsp;&nbsp;13400 | $&nbsp;&nbsp;&nbsp;&nbsp;186773 |
| Sekisui House, Ltd. | &nbsp;&nbsp;21400 | &nbsp;&nbsp;&nbsp;&nbsp;379402 |
| Seven & i Holdings Company, Ltd. | &nbsp;&nbsp;25700 | 1101409 |
| SG Holdings Company, Ltd. | &nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp;171935 |
| Sharp Corp. | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;53155 |
| Shimadzu Corp. | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;254789 |
| Shimano, Inc. | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;410849 |
| Shimizu Corp. | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;115256 |
| Shin-Etsu Chemical Company, Ltd. | &nbsp;&nbsp;12800 | 1563036 |
| Shionogi & Company, Ltd. | &nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;483963 |
| Shiseido Company, Ltd. | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp;715600 |
| Shizuoka Financial Group, Inc. | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;136229 |
| SMC Corp. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;835108 |
| SoftBank Corp. | &nbsp;&nbsp;97900 | 1107609 |
| SoftBank Group Corp. | &nbsp;&nbsp;41300 | 1746699 |
| Sompo Holdings, Inc. | &nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp;513220 |
| Sony Group Corp. | &nbsp;&nbsp;43500 | 3315641 |
| Square Enix Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;157847 |
| Subaru Corp. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;348222 |
| SUMCO Corp. | &nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;&nbsp;170907 |
| Sumitomo Chemical Company, Ltd. | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;200795 |
| Sumitomo Corp. | &nbsp;&nbsp;41300 | &nbsp;&nbsp;&nbsp;&nbsp;686534 |
| Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;26200 | &nbsp;&nbsp;&nbsp;&nbsp;296019 |
| Sumitomo Metal Mining Company, Ltd. | &nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;323277 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;44700 | 1798390 |
| Sumitomo Mitsui Trust Holdings, Inc. | &nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;439684 |
| Sumitomo Realty & Development Company, Ltd. | &nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp;252177 |
| Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;170261 |
| Suzuki Motor Corp. | &nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;435572 |
| Sysmex Corp. | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;374298 |
| T&D Holdings, Inc. | &nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp;284863 |
| Taisei Corp. | &nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;212818 |
| Takeda Pharmaceutical Company, Ltd. | &nbsp;&nbsp;51376 | 1605330 |
| TDK Corp. | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;465230 |
| Terumo Corp. | &nbsp;&nbsp;23500 | &nbsp;&nbsp;&nbsp;&nbsp;666239 |
| The Chiba Bank, Ltd. | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;157597 |
| The Kansai Electric Power Company, Inc. | &nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;235974 |
| TIS, Inc. | &nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;204998 |
| Tobu Railway Company, Ltd. | &nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;158610 |
| Toho Company, Ltd. | &nbsp;&nbsp;&nbsp;4067 | &nbsp;&nbsp;&nbsp;&nbsp;156766 |
| Tokio Marine Holdings, Inc. | &nbsp;&nbsp;64200 | 1371466 |
| Tokyo Electric Power Company Holdings, Inc. (A) | &nbsp;&nbsp;50400 | &nbsp;&nbsp;&nbsp;&nbsp;181512 |
| Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;5100 | 1498527 |
| Tokyo Gas Company, Ltd. | &nbsp;&nbsp;13900 | &nbsp;&nbsp;&nbsp;&nbsp;272159 |
| Tokyu Corp. | &nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp;225432 |
| Toppan, Inc. | &nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;152105 |
| Toray Industries, Inc. | &nbsp;&nbsp;50800 | &nbsp;&nbsp;&nbsp;&nbsp;282518 |
| Toshiba Corp. | &nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp;462166 |
| Tosoh Corp. | &nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;110592 |
| TOTO, Ltd. | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;162813 |
| Toyota Industries Corp. | &nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;282494 |
| Toyota Motor Corp. | 365900 | 4991807 |
| Toyota Tsusho Corp. | &nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;290596 |
| Trend Micro, Inc. | &nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;215130 |
| Unicharm Corp. | &nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp;570465 |
| USS Company, Ltd. | &nbsp;&nbsp;&nbsp;7770 | &nbsp;&nbsp;&nbsp;&nbsp;123287 |
| Welcia Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;79255 |
| West Japan Railway Company | &nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;356039 |
| Yakult Honsha Company, Ltd. | &nbsp;&nbsp;&nbsp;4943 | &nbsp;&nbsp;&nbsp;&nbsp;321777 |
| Yamaha Corp. | &nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;174407 |
| Yamaha Motor Company, Ltd. | &nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;228273 |
| Yamato Holdings Company, Ltd. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;174309 |
| Yaskawa Electric Corp. | &nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp;264815 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;7886 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125159 |
| Z Holdings Corp. | &nbsp;&nbsp;99300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248003 |
| ZOZO, Inc. | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118540 |
|  |  | 109874730 |
| **Jordan - 0.0%** |  |  |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;6907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128719 |
| **Luxembourg - 0.2%** |  |  |
| ArcelorMittal SA | &nbsp;&nbsp;17984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474455 |
| Aroundtown SA | &nbsp;&nbsp;40475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94283 |
| Eurofins Scientific SE | &nbsp;&nbsp;&nbsp;4949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355328 |
| Reinet Investments SCA | &nbsp;&nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100772 |
| Tenaris SA | &nbsp;&nbsp;18379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322324 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1347162 |
| **Macau - 0.0%** |  |  |
| Sands China, Ltd. (A) | &nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301781 |
| **Malaysia - 0.5%** |  |  |
| AMMB Holdings BHD | &nbsp;&nbsp;59087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55553 |
| Axiata Group BHD | 101690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71422 |
| CIMB Group Holdings BHD | 205428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270337 |
| Dialog Group BHD | 166000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92318 |
| DiGi.Com BHD | 110800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100556 |
| Genting BHD | &nbsp;&nbsp;72900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74132 |
| Genting Malaysia BHD | 105700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64525 |
| HAP Seng Consolidated BHD | &nbsp;&nbsp;30200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43861 |
| Hartalega Holdings BHD | &nbsp;&nbsp;60200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23249 |
| Hong Leong Bank BHD | &nbsp;&nbsp;23269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108488 |
| Hong Leong Financial Group BHD | &nbsp;&nbsp;&nbsp;6104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25760 |
| IHH Healthcare BHD | &nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85375 |
| Inari Amertron BHD | &nbsp;&nbsp;98100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58131 |
| IOI Corp. BHD | 114466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105341 |
| Kuala Lumpur Kepong BHD | &nbsp;&nbsp;17415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88511 |
| Malayan Banking BHD | 163714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323333 |
| Malaysia Airports Holdings BHD (A) | &nbsp;&nbsp;34427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51314 |
| Maxis BHD | &nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58601 |
| MISC BHD | &nbsp;&nbsp;45780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77939 |
| Mr. D.I.Y Group M BHD (B) | &nbsp;&nbsp;80550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36568 |
| Nestle Malaysia BHD | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89025 |
| Petronas Chemicals Group BHD | &nbsp;&nbsp;99800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194958 |
| Petronas Dagangan BHD | &nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63672 |
| Petronas Gas BHD | &nbsp;&nbsp;21200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82371 |
| PPB Group BHD | &nbsp;&nbsp;21240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84091 |
| Press Metal Aluminium Holdings BHD | 120800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133840 |
| Public Bank BHD | 486890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477422 |
| QL Resources BHD | &nbsp;&nbsp;54400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68094 |
| RHB Bank BHD | &nbsp;&nbsp;31178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40964 |
| Sime Darby BHD | 108224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56490 |
| Sime Darby Plantation BHD | 108786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114956 |
| Telekom Malaysia BHD | &nbsp;&nbsp;43415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53198 |
| Tenaga Nasional BHD | 101250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221341 |
| Top Glove Corp. BHD (A) | 164400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3529529 |
| **Mexico - 0.7%** |  |  |
| Alfa SAB de CV, Class A | &nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62512 |
| America Movil SAB de CV, Series L | 962732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869529 |
| Arca Continental SAB de CV | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129764 |
| Banco del Bajio SA (B) | &nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83157 |
| Cemex SAB de CV, Series CPO (A) | 521849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212098 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;15212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102959 |
| Fibra Uno Administracion SA de CV | &nbsp;&nbsp;90200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106463 |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;70620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552124 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp;&nbsp;7685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102664 |
| Grupo Aeroportuario del Pacifico SAB de CV, B Shares | &nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203601 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Mexico (continued)** |  |  |
| Grupo Aeroportuario del Sureste SAB de CV, B Shares | &nbsp;&nbsp;&nbsp;8185 | $&nbsp;&nbsp;&nbsp;&nbsp;190700 |
| Grupo Bimbo SAB de CV, Series A | &nbsp;&nbsp;53084 | &nbsp;&nbsp;&nbsp;&nbsp;224197 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp;15377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64723 |
| Grupo Financiero Banorte SAB de CV, Series O | &nbsp;&nbsp;93962 | &nbsp;&nbsp;&nbsp;&nbsp;676224 |
| Grupo Financiero Inbursa SAB de CV, Series O (A) | &nbsp;&nbsp;77038 | &nbsp;&nbsp;&nbsp;&nbsp;130462 |
| Grupo Mexico SAB de CV, Series B | 104066 | &nbsp;&nbsp;&nbsp;&nbsp;366887 |
| Grupo Televisa SAB, Series CPO | &nbsp;&nbsp;80326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72962 |
| Industrias Penoles SAB de CV (A) | &nbsp;&nbsp;&nbsp;4883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59684 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;43778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74294 |
| Operadora de Sites Mexicanos SAB de CV, Class A1 | &nbsp;&nbsp;63900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62633 |
| Orbia Advance Corp. SAB de CV | &nbsp;&nbsp;37631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66721 |
| Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47191 |
| Southern Copper Corp. | &nbsp;&nbsp;&nbsp;2874 | &nbsp;&nbsp;&nbsp;&nbsp;173561 |
| Wal-Mart de Mexico SAB de CV | 188888 | &nbsp;&nbsp;&nbsp;&nbsp;667673 |
|  |  | &nbsp;&nbsp;&nbsp;5302783 |
| **Netherlands - 3.0%** |  |  |
| ABN AMRO Bank NV (B) | &nbsp;&nbsp;17297 | &nbsp;&nbsp;&nbsp;&nbsp;239528 |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;1027301 |
| Aegon NV | &nbsp;&nbsp;63955 | &nbsp;&nbsp;&nbsp;&nbsp;324038 |
| Akzo Nobel NV | &nbsp;&nbsp;&nbsp;6858 | &nbsp;&nbsp;&nbsp;&nbsp;460188 |
| Argenx SE (A) | &nbsp;&nbsp;&nbsp;1653 | &nbsp;&nbsp;&nbsp;&nbsp;620544 |
| ASM International NV | &nbsp;&nbsp;&nbsp;1723 | &nbsp;&nbsp;&nbsp;&nbsp;437183 |
| ASML Holding NV | &nbsp;&nbsp;13887 | &nbsp;&nbsp;&nbsp;7571888 |
| Euronext NV (B) | &nbsp;&nbsp;&nbsp;3256 | &nbsp;&nbsp;&nbsp;&nbsp;241045 |
| EXOR NV (A) | &nbsp;&nbsp;&nbsp;3992 | &nbsp;&nbsp;&nbsp;&nbsp;292271 |
| Heineken Holding NV | &nbsp;&nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp;267525 |
| Heineken NV | &nbsp;&nbsp;&nbsp;9397 | &nbsp;&nbsp;&nbsp;&nbsp;885122 |
| IMCD NV | &nbsp;&nbsp;&nbsp;2143 | &nbsp;&nbsp;&nbsp;&nbsp;306537 |
| ING Groep NV | 134131 | &nbsp;&nbsp;&nbsp;1633866 |
| JDE Peet's NV | &nbsp;&nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;122872 |
| Just Eat Takeaway.com NV (A)(B) | &nbsp;&nbsp;&nbsp;6815 | &nbsp;&nbsp;&nbsp;&nbsp;145054 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;35791 | &nbsp;&nbsp;&nbsp;1029033 |
| Koninklijke DSM NV | &nbsp;&nbsp;&nbsp;6005 | &nbsp;&nbsp;&nbsp;&nbsp;737379 |
| Koninklijke KPN NV | 126323 | &nbsp;&nbsp;&nbsp;&nbsp;391001 |
| Koninklijke Philips NV | &nbsp;&nbsp;31413 | &nbsp;&nbsp;&nbsp;&nbsp;472677 |
| NEPI Rockcastle NV | &nbsp;&nbsp;15018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90041 |
| NN Group NV | &nbsp;&nbsp;10558 | &nbsp;&nbsp;&nbsp;&nbsp;431738 |
| OCI NV | &nbsp;&nbsp;&nbsp;3599 | &nbsp;&nbsp;&nbsp;&nbsp;128673 |
| Prosus NV (A) | &nbsp;&nbsp;28338 | &nbsp;&nbsp;&nbsp;1956546 |
| QIAGEN NV (A) | &nbsp;&nbsp;&nbsp;8350 | &nbsp;&nbsp;&nbsp;&nbsp;419758 |
| Randstad NV | &nbsp;&nbsp;&nbsp;4552 | &nbsp;&nbsp;&nbsp;&nbsp;278137 |
| Stellantis NV | &nbsp;&nbsp;40495 | &nbsp;&nbsp;&nbsp;&nbsp;575447 |
| Stellantis NV (Euronext Paris Exchange) | &nbsp;&nbsp;34423 | &nbsp;&nbsp;&nbsp;&nbsp;489060 |
| Universal Music Group NV | &nbsp;&nbsp;26829 | &nbsp;&nbsp;&nbsp;&nbsp;648795 |
| Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;9066 | &nbsp;&nbsp;&nbsp;&nbsp;948620 |
|  |  | 23171867 |
| **New Zealand - 0.1%** |  |  |
| Auckland International Airport, Ltd. (A) | &nbsp;&nbsp;36599 | &nbsp;&nbsp;&nbsp;&nbsp;181516 |
| Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;20109 | &nbsp;&nbsp;&nbsp;&nbsp;287722 |
| Mercury NZ, Ltd. | &nbsp;&nbsp;23358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82518 |
| Meridian Energy, Ltd. | &nbsp;&nbsp;44474 | &nbsp;&nbsp;&nbsp;&nbsp;147929 |
| Spark New Zealand, Ltd. | &nbsp;&nbsp;67539 | &nbsp;&nbsp;&nbsp;&nbsp;231238 |
| Xero, Ltd. (A) | &nbsp;&nbsp;&nbsp;4614 | &nbsp;&nbsp;&nbsp;&nbsp;220014 |
|  |  | &nbsp;&nbsp;&nbsp;1150937 |
| **Norway - 0.5%** |  |  |
| Adevinta ASA (A) | &nbsp;&nbsp;&nbsp;8335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55192 |
| Aker BP ASA | &nbsp;&nbsp;10753 | &nbsp;&nbsp;&nbsp;&nbsp;334234 |
| DNB Bank ASA | &nbsp;&nbsp;30942 | &nbsp;&nbsp;&nbsp;&nbsp;611108 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Norway (continued)** |  |  |
| Equinor ASA | &nbsp;&nbsp;33389 | $1200010 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;6934 | &nbsp;&nbsp;&nbsp;&nbsp;136004 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp;&nbsp;3055 | &nbsp;&nbsp;&nbsp;&nbsp;130032 |
| Mowi ASA | &nbsp;&nbsp;14928 | &nbsp;&nbsp;&nbsp;&nbsp;254378 |
| Norsk Hydro ASA | &nbsp;&nbsp;48185 | &nbsp;&nbsp;&nbsp;&nbsp;360056 |
| Orkla ASA | &nbsp;&nbsp;29206 | &nbsp;&nbsp;&nbsp;&nbsp;210789 |
| Salmar ASA | &nbsp;&nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp;78903 |
| Telenor ASA | &nbsp;&nbsp;26898 | &nbsp;&nbsp;&nbsp;&nbsp;251307 |
| Yara International ASA | &nbsp;&nbsp;&nbsp;5667 | &nbsp;&nbsp;&nbsp;&nbsp;248878 |
|  |  | 3870891 |
| **Peru - 0.1%** |  |  |
| Cia de Minas Buenaventura SAA, ADR | &nbsp;&nbsp;&nbsp;8064 | &nbsp;&nbsp;&nbsp;&nbsp;60077 |
| Credicorp, Ltd. | &nbsp;&nbsp;&nbsp;2434 | &nbsp;&nbsp;&nbsp;&nbsp;330196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;390273 |
| **Philippines - 0.2%** |  |  |
| Aboitiz Equity Ventures, Inc. | &nbsp;&nbsp;85070 | &nbsp;&nbsp;&nbsp;&nbsp;88342 |
| ACEN Corp. | &nbsp;&nbsp;26760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3679 |
| Ayala Corp. | &nbsp;&nbsp;&nbsp;8920 | &nbsp;&nbsp;&nbsp;&nbsp;111653 |
| Ayala Land, Inc. | 253800 | &nbsp;&nbsp;&nbsp;&nbsp;140887 |
| Bank of the Philippine Islands | &nbsp;&nbsp;34118 | &nbsp;&nbsp;&nbsp;&nbsp;62583 |
| BDO Unibank, Inc. | &nbsp;&nbsp;92568 | &nbsp;&nbsp;&nbsp;&nbsp;176035 |
| Globe Telecom, Inc. | &nbsp;&nbsp;&nbsp;1043 | &nbsp;&nbsp;&nbsp;&nbsp;40916 |
| International Container Terminal Services, Inc. | &nbsp;&nbsp;33760 | &nbsp;&nbsp;&nbsp;&nbsp;121164 |
| JG Summit Holdings, Inc. | &nbsp;&nbsp;89355 | &nbsp;&nbsp;&nbsp;&nbsp;80799 |
| Jollibee Foods Corp. | &nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;78077 |
| Manila Electric Company | &nbsp;&nbsp;&nbsp;8090 | &nbsp;&nbsp;&nbsp;&nbsp;43468 |
| Metropolitan Bank & Trust Company | &nbsp;&nbsp;65642 | &nbsp;&nbsp;&nbsp;&nbsp;63742 |
| Monde Nissin Corp. (B) | 214900 | &nbsp;&nbsp;&nbsp;&nbsp;42879 |
| PLDT, Inc. | &nbsp;&nbsp;&nbsp;3730 | &nbsp;&nbsp;&nbsp;&nbsp;88000 |
| SM Investments Corp. | &nbsp;&nbsp;&nbsp;8302 | &nbsp;&nbsp;&nbsp;&nbsp;134641 |
| SM Prime Holdings, Inc. | 311044 | &nbsp;&nbsp;&nbsp;&nbsp;198449 |
| Universal Robina Corp. | &nbsp;&nbsp;30280 | &nbsp;&nbsp;&nbsp;&nbsp;74292 |
|  |  | 1549606 |
| **Poland - 0.2%** |  |  |
| Allegro.eu SA (A)(B) | &nbsp;&nbsp;13472 | &nbsp;&nbsp;&nbsp;&nbsp;77754 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;5522 | &nbsp;&nbsp;&nbsp;&nbsp;109852 |
| CD Projekt SA | &nbsp;&nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;&nbsp;69973 |
| Cyfrowy Polsat SA | &nbsp;&nbsp;&nbsp;6360 | &nbsp;&nbsp;&nbsp;&nbsp;25648 |
| Dino Polska SA (A)(B) | &nbsp;&nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;147635 |
| KGHM Polska Miedz SA | &nbsp;&nbsp;&nbsp;5681 | &nbsp;&nbsp;&nbsp;&nbsp;165247 |
| LPP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;102430 |
| PGE Polska Grupa Energetyczna SA (A) | &nbsp;&nbsp;26654 | &nbsp;&nbsp;&nbsp;&nbsp;42055 |
| Polski Koncern Naftowy ORLEN SA | &nbsp;&nbsp;17254 | &nbsp;&nbsp;&nbsp;&nbsp;253484 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp;32873 | &nbsp;&nbsp;&nbsp;&nbsp;228162 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;186780 |
| Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;1219 | &nbsp;&nbsp;&nbsp;&nbsp;72571 |
|  |  | 1481591 |
| **Portugal - 0.1%** |  |  |
| EDP - Energias de Portugal SA | &nbsp;&nbsp;91820 | &nbsp;&nbsp;&nbsp;&nbsp;457703 |
| Galp Energia SGPS SA | &nbsp;&nbsp;18673 | &nbsp;&nbsp;&nbsp;&nbsp;251910 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;9675 | &nbsp;&nbsp;&nbsp;&nbsp;209323 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;918936 |
| **Russia - 0.0%** |  |  |
| Gazprom PJSC, ADR (A)(E) | 251662 | &nbsp;&nbsp;&nbsp;&nbsp;54862 |
| Gazprom PJSC, ADR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 |
| LUKOIL PJSC, ADR (A)(E) | &nbsp;&nbsp;23756 | &nbsp;&nbsp;&nbsp;&nbsp;47560 |
| MMC Norilsk Nickel PJSC, ADR (E) | &nbsp;&nbsp;39185 | &nbsp;&nbsp;&nbsp;&nbsp;25745 |
| Mobile TeleSystems PJSC, ADR (A)(E) | &nbsp;&nbsp;20264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850 |
| Novatek PJSC, GDR (A)(E) | &nbsp;&nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;15022 |
| Rosneft Oil Company PJSC, GDR (A)(E) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Russia (continued)** |  |  |
| Rosneft Oil Company PJSC, GDR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;&nbsp;9131 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 |
| Sberbank of Russia PJSC, ADR (A)(E) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9080 |
| Sberbank of Russia PJSC, ADR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8705 |
| Severstal PAO, GDR (A)(E) | &nbsp;&nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326 |
| Surgutneftegas PJSC, ADR (A)(E) | &nbsp;&nbsp;22274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495 |
| Surgutneftegas PJSC, ADR (London Stock Exchange) (A)(E) | &nbsp;&nbsp;23070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146 |
| Tatneft PJSC, ADR (E) | &nbsp;&nbsp;&nbsp;7986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8729 |
| VTB Bank PJSC, GDR (A)(E) | &nbsp;&nbsp;50760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;186378 |
| **Saudi Arabia - 1.0%** |  |  |
| ACWA Power Company | &nbsp;&nbsp;&nbsp;2748 | &nbsp;&nbsp;&nbsp;&nbsp;111211 |
| Advanced Petrochemical Company | &nbsp;&nbsp;&nbsp;4529 | &nbsp;&nbsp;&nbsp;&nbsp;51502 |
| Al Rajhi Bank (A) | &nbsp;&nbsp;67083 | 1341542 |
| Alinma Bank | &nbsp;&nbsp;34699 | &nbsp;&nbsp;&nbsp;&nbsp;300461 |
| Almarai Company JSC | &nbsp;&nbsp;&nbsp;8852 | &nbsp;&nbsp;&nbsp;&nbsp;126093 |
| Arab National Bank | &nbsp;&nbsp;21244 | &nbsp;&nbsp;&nbsp;&nbsp;180531 |
| Bank AlBilad (A) | &nbsp;&nbsp;17420 | &nbsp;&nbsp;&nbsp;&nbsp;204784 |
| Bank Al-Jazira | &nbsp;&nbsp;14284 | &nbsp;&nbsp;&nbsp;&nbsp;72262 |
| Banque Saudi Fransi | &nbsp;&nbsp;19205 | &nbsp;&nbsp;&nbsp;&nbsp;207076 |
| Bupa Arabia for Cooperative Insurance Company | &nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp;46756 |
| Dar Al Arkan Real Estate Development Company (A) | &nbsp;&nbsp;18814 | &nbsp;&nbsp;&nbsp;&nbsp;58115 |
| Emaar Economic City (A) | &nbsp;&nbsp;13598 | &nbsp;&nbsp;&nbsp;&nbsp;30165 |
| Etihad Etisalat Company | &nbsp;&nbsp;13413 | &nbsp;&nbsp;&nbsp;&nbsp;123987 |
| Jarir Marketing Company | &nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;83410 |
| Mouwasat Medical Services Company | &nbsp;&nbsp;&nbsp;1674 | &nbsp;&nbsp;&nbsp;&nbsp;93779 |
| National Industrialization Company (A) | &nbsp;&nbsp;11652 | &nbsp;&nbsp;&nbsp;&nbsp;38562 |
| Rabigh Refining & Petrochemical Company (A) | &nbsp;&nbsp;14852 | &nbsp;&nbsp;&nbsp;&nbsp;42946 |
| Riyad Bank | &nbsp;&nbsp;42488 | &nbsp;&nbsp;&nbsp;&nbsp;361291 |
| SABIC Agri-Nutrients Company | &nbsp;&nbsp;&nbsp;5901 | &nbsp;&nbsp;&nbsp;&nbsp;230334 |
| Sahara International Petrochemical Company | &nbsp;&nbsp;12775 | &nbsp;&nbsp;&nbsp;&nbsp;116840 |
| Saudi Arabian Mining Company (A) | &nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp;523625 |
| Saudi Arabian Oil Company (B) | &nbsp;&nbsp;84135 | &nbsp;&nbsp;&nbsp;&nbsp;722209 |
| Saudi Basic Industries Corp. | &nbsp;&nbsp;26663 | &nbsp;&nbsp;&nbsp;&nbsp;637814 |
| Saudi Electricity Company | &nbsp;&nbsp;29505 | &nbsp;&nbsp;&nbsp;&nbsp;182390 |
| Saudi Industrial Investment Group | &nbsp;&nbsp;&nbsp;7839 | &nbsp;&nbsp;&nbsp;&nbsp;46304 |
| Saudi Kayan Petrochemical Company (A) | &nbsp;&nbsp;26130 | &nbsp;&nbsp;&nbsp;&nbsp;95780 |
| Saudi Research & Media Group (A) | &nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;59657 |
| Saudi Telecom Company | &nbsp;&nbsp;52220 | &nbsp;&nbsp;&nbsp;&nbsp;508164 |
| The Saudi British Bank | &nbsp;&nbsp;25464 | &nbsp;&nbsp;&nbsp;&nbsp;261985 |
| The Saudi Investment Bank | &nbsp;&nbsp;16741 | &nbsp;&nbsp;&nbsp;&nbsp;77191 |
| The Saudi National Bank | &nbsp;&nbsp;74964 | 1008981 |
| The Savola Group | &nbsp;&nbsp;&nbsp;9302 | &nbsp;&nbsp;&nbsp;&nbsp;68230 |
| Yanbu National Petrochemical Company | &nbsp;&nbsp;&nbsp;7999 | &nbsp;&nbsp;&nbsp;&nbsp;88981 |
|  |  | 8102958 |
| **Singapore - 1.0%** |  |  |
| BOC Aviation, Ltd. (B) | &nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;61646 |
| CapitaLand Ascendas REIT | 117802 | &nbsp;&nbsp;&nbsp;&nbsp;241267 |
| CapitaLand Integrated Commercial Trust | 183231 | &nbsp;&nbsp;&nbsp;&nbsp;279466 |
| CapitaLand Investment, Ltd. | &nbsp;&nbsp;93902 | &nbsp;&nbsp;&nbsp;&nbsp;259516 |
| CDL Hospitality Trusts | &nbsp;&nbsp;&nbsp;2639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2466 |
| City Developments, Ltd. | &nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp;102046 |
| DBS Group Holdings, Ltd. | &nbsp;&nbsp;64154 | 1623841 |
| Genting Singapore, Ltd. | 226200 | &nbsp;&nbsp;&nbsp;&nbsp;161430 |
| Grab Holdings, Ltd., Class A (A) | &nbsp;&nbsp;37400 | &nbsp;&nbsp;&nbsp;&nbsp;120428 |
| Jardine Cycle & Carriage, Ltd. | &nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;72596 |
| JOYY, Inc., ADR | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;63180 |
| Keppel Corp., Ltd. | &nbsp;&nbsp;55069 | &nbsp;&nbsp;&nbsp;&nbsp;298649 |
| Mapletree Logistics Trust | 124150 | &nbsp;&nbsp;&nbsp;&nbsp;147628 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Singapore (continued)** |  |  |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp;89600 | $&nbsp;&nbsp;&nbsp;&nbsp;111950 |
| Oversea-Chinese Banking Corp., Ltd. | 120702 | 1097910 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;634766 |
| Singapore Airlines, Ltd. | &nbsp;&nbsp;57850 | &nbsp;&nbsp;&nbsp;&nbsp;238855 |
| Singapore Exchange, Ltd. | &nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;206625 |
| Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;61500 | &nbsp;&nbsp;&nbsp;&nbsp;153892 |
| Singapore Telecommunications, Ltd. | 294940 | &nbsp;&nbsp;&nbsp;&nbsp;565486 |
| United Overseas Bank, Ltd. | &nbsp;&nbsp;42208 | &nbsp;&nbsp;&nbsp;&nbsp;966810 |
| UOL Group, Ltd. | &nbsp;&nbsp;20239 | &nbsp;&nbsp;&nbsp;&nbsp;101757 |
| Venture Corp., Ltd. | &nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;141483 |
| Wilmar International, Ltd. | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;224307 |
|  |  | 7878000 |
| **South Africa - 1.0%** |  |  |
| Absa Group, Ltd. | &nbsp;&nbsp;27515 | &nbsp;&nbsp;&nbsp;&nbsp;312450 |
| African Rainbow Minerals, Ltd. | &nbsp;&nbsp;&nbsp;5157 | &nbsp;&nbsp;&nbsp;&nbsp;87140 |
| Anglo American Platinum, Ltd. | &nbsp;&nbsp;&nbsp;1813 | &nbsp;&nbsp;&nbsp;&nbsp;151307 |
| AngloGold Ashanti, Ltd. | &nbsp;&nbsp;14430 | &nbsp;&nbsp;&nbsp;&nbsp;281157 |
| Aspen Pharmacare Holdings, Ltd. | &nbsp;&nbsp;13036 | &nbsp;&nbsp;&nbsp;&nbsp;104258 |
| Bid Corp., Ltd. | &nbsp;&nbsp;11078 | &nbsp;&nbsp;&nbsp;&nbsp;214881 |
| Capitec Bank Holdings, Ltd. | &nbsp;&nbsp;&nbsp;2975 | &nbsp;&nbsp;&nbsp;&nbsp;323849 |
| Clicks Group, Ltd. | &nbsp;&nbsp;&nbsp;8355 | &nbsp;&nbsp;&nbsp;&nbsp;132058 |
| Discovery, Ltd. (A) | &nbsp;&nbsp;16080 | &nbsp;&nbsp;&nbsp;&nbsp;116312 |
| Exxaro Resources, Ltd. | &nbsp;&nbsp;&nbsp;8997 | &nbsp;&nbsp;&nbsp;&nbsp;115346 |
| FirstRand, Ltd. | 172480 | &nbsp;&nbsp;&nbsp;&nbsp;626635 |
| Gold Fields, Ltd. | &nbsp;&nbsp;29492 | &nbsp;&nbsp;&nbsp;&nbsp;306270 |
| Growthpoint Properties, Ltd. | 109582 | &nbsp;&nbsp;&nbsp;&nbsp;93940 |
| Harmony Gold Mining Company, Ltd. | &nbsp;&nbsp;18873 | &nbsp;&nbsp;&nbsp;&nbsp;65935 |
| Impala Platinum Holdings, Ltd. | &nbsp;&nbsp;28968 | &nbsp;&nbsp;&nbsp;&nbsp;364037 |
| Kumba Iron Ore, Ltd. | &nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp;62504 |
| Mr. Price Group, Ltd. | &nbsp;&nbsp;&nbsp;8969 | &nbsp;&nbsp;&nbsp;&nbsp;83167 |
| MTN Group, Ltd. | &nbsp;&nbsp;59164 | &nbsp;&nbsp;&nbsp;&nbsp;441881 |
| MultiChoice Group | &nbsp;&nbsp;15717 | &nbsp;&nbsp;&nbsp;&nbsp;108388 |
| Naspers, Ltd., N Shares | &nbsp;&nbsp;&nbsp;7259 | 1213020 |
| Nedbank Group, Ltd. | &nbsp;&nbsp;15440 | &nbsp;&nbsp;&nbsp;&nbsp;193137 |
| Northam Platinum Holdings, Ltd. (A) | &nbsp;&nbsp;11870 | &nbsp;&nbsp;&nbsp;&nbsp;130530 |
| Old Mutual, Ltd. | 182601 | &nbsp;&nbsp;&nbsp;&nbsp;111012 |
| Pepkor Holdings, Ltd. (B) | &nbsp;&nbsp;56996 | &nbsp;&nbsp;&nbsp;&nbsp;67143 |
| Remgro, Ltd. | &nbsp;&nbsp;17781 | &nbsp;&nbsp;&nbsp;&nbsp;138292 |
| Sanlam, Ltd. | &nbsp;&nbsp;59860 | &nbsp;&nbsp;&nbsp;&nbsp;171988 |
| Sasol, Ltd. | &nbsp;&nbsp;19396 | &nbsp;&nbsp;&nbsp;&nbsp;309534 |
| Shoprite Holdings, Ltd. | &nbsp;&nbsp;16492 | &nbsp;&nbsp;&nbsp;&nbsp;218626 |
| Sibanye Stillwater, Ltd. | 101051 | &nbsp;&nbsp;&nbsp;&nbsp;267909 |
| Standard Bank Group, Ltd. | &nbsp;&nbsp;43543 | &nbsp;&nbsp;&nbsp;&nbsp;429624 |
| The Bidvest Group, Ltd. | &nbsp;&nbsp;&nbsp;9718 | &nbsp;&nbsp;&nbsp;&nbsp;121979 |
| The Foschini Group, Ltd. | &nbsp;&nbsp;11309 | &nbsp;&nbsp;&nbsp;&nbsp;66580 |
| The SPAR Group, Ltd. | &nbsp;&nbsp;&nbsp;5706 | &nbsp;&nbsp;&nbsp;&nbsp;38122 |
| Vodacom Group, Ltd. | &nbsp;&nbsp;21952 | &nbsp;&nbsp;&nbsp;&nbsp;158216 |
| Woolworths Holdings, Ltd. | &nbsp;&nbsp;33746 | &nbsp;&nbsp;&nbsp;&nbsp;131441 |
|  |  | 7758668 |
| **South Korea - 2.9%** |  |  |
| Amorepacific Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;106709 |
| BGF retail Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;15062 |
| Celltrion Healthcare Company, Ltd. | &nbsp;&nbsp;&nbsp;3301 | &nbsp;&nbsp;&nbsp;&nbsp;152547 |
| Celltrion Pharm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;31882 |
| Celltrion, Inc. | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;421171 |
| Cheil Worldwide, Inc. (A) | &nbsp;&nbsp;&nbsp;1346 | &nbsp;&nbsp;&nbsp;&nbsp;24585 |
| CJ CheilJedang Corp. | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;63170 |
| CJ Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;30461 |
| Coway Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2324 | &nbsp;&nbsp;&nbsp;&nbsp;103185 |
| DB Insurance Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;58159 |
| Doosan Bobcat, Inc. | &nbsp;&nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp;30179 |
| Doosan Enerbility Company, Ltd. (A) | &nbsp;&nbsp;10736 | &nbsp;&nbsp;&nbsp;&nbsp;130689 |
| Ecopro BM Company, Ltd. | &nbsp;&nbsp;&nbsp;1844 | &nbsp;&nbsp;&nbsp;&nbsp;134898 |
| E-MART, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;38564 |
| F&F Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;66089 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| GS Holdings Corp. | &nbsp;&nbsp;1749 | $&nbsp;&nbsp;&nbsp;60695 |
| Hana Financial Group, Inc. | 11216 | 373483 |
| Hankook Tire & Technology Company, Ltd. (A) | &nbsp;&nbsp;1937 | &nbsp;&nbsp;&nbsp;47832 |
| Hanmi Pharm Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;35512 |
| Hanon Systems | &nbsp;&nbsp;4656 | &nbsp;&nbsp;&nbsp;29898 |
| Hanwha Solutions Corp. (A) | &nbsp;&nbsp;3425 | 117113 |
| HD Hyundai Company, Ltd. | &nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;70376 |
| HLB, Inc. (A) | &nbsp;&nbsp;3069 | &nbsp;&nbsp;&nbsp;69253 |
| HMM Company, Ltd. (A) | &nbsp;&nbsp;8540 | 133108 |
| Hotel Shilla Company, Ltd. (A) | &nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;70010 |
| HYBE Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;77471 |
| Hyundai Engineering & Construction Company, Ltd. (A) | &nbsp;&nbsp;2649 | &nbsp;&nbsp;&nbsp;73236 |
| Hyundai Glovis Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;69979 |
| Hyundai Heavy Industries Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;56127 |
| Hyundai Mobis Company, Ltd. | &nbsp;&nbsp;2223 | 352609 |
| Hyundai Motor Company | &nbsp;&nbsp;4857 | 581295 |
| Hyundai Steel Company (A) | &nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;70075 |
| Iljin Materials Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;31592 |
| Industrial Bank of Korea | &nbsp;&nbsp;5941 | &nbsp;&nbsp;&nbsp;46174 |
| Kakao Corp. | 10511 | 447726 |
| Kakao Games Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;35519 |
| KakaoBank Corp. (A) | &nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;77469 |
| Kangwon Land, Inc. (A) | &nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;66465 |
| KB Financial Group, Inc. | 12892 | 493927 |
| KB Financial Group, Inc., ADR | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;16624 |
| Kia Corp. (A) | &nbsp;&nbsp;8833 | 415597 |
| Korea Aerospace Industries, Ltd. (A) | &nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;69110 |
| Korea Electric Power Corp. | &nbsp;&nbsp;6370 | 110003 |
| Korea Electric Power Corp., ADR | &nbsp;&nbsp;4277 | &nbsp;&nbsp;&nbsp;36953 |
| Korea Investment Holdings Company, Ltd. (A) | &nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;49653 |
| Korea Shipbuilding & Offshore Engineering Company, Ltd. | &nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;63374 |
| Korea Zinc Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;350 | 156853 |
| Korean Air Lines Company, Ltd. (A) | &nbsp;&nbsp;6728 | 122607 |
| Krafton, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;98022 |
| KT&G Corp. (A) | &nbsp;&nbsp;4465 | 322719 |
| Kumho Petrochemical Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;61186 |
| L&F Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;748 | 103134 |
| LG Chem, Ltd. (A) | &nbsp;&nbsp;1553 | 741603 |
| LG Corp. (A) | &nbsp;&nbsp;2922 | 180931 |
| LG Display Company, Ltd. (A) | &nbsp;&nbsp;5471 | &nbsp;&nbsp;&nbsp;54065 |
| LG Display Company, Ltd., ADR | &nbsp;&nbsp;2417 | &nbsp;&nbsp;&nbsp;11988 |
| LG Electronics, Inc. (A) | &nbsp;&nbsp;3973 | 273143 |
| LG Energy Solution, Ltd. (A) | &nbsp;&nbsp;1199 | 413244 |
| LG H&H Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;358 | 206054 |
| LG Innotek Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;575 | 115965 |
| LG Uplus Corp. | &nbsp;&nbsp;9062 | &nbsp;&nbsp;&nbsp;79359 |
| Lotte Chemical Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;79537 |
| Lotte Shopping Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;26374 |
| Meritz Securities Company, Ltd. (A) | 14974 | &nbsp;&nbsp;&nbsp;74574 |
| Mirae Asset Securities Company, Ltd. (A) | &nbsp;&nbsp;7084 | &nbsp;&nbsp;&nbsp;34226 |
| NAVER Corp. | &nbsp;&nbsp;4194 | 596475 |
| NCSoft Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;550 | 196473 |
| Netmarble Corp. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;24775 |
| NH Investment & Securities Company, Ltd. (A) | &nbsp;&nbsp;3944 | &nbsp;&nbsp;&nbsp;27448 |
| Orion Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;57927 |
| Pan Ocean Company, Ltd. (A) | &nbsp;&nbsp;9148 | &nbsp;&nbsp;&nbsp;41706 |
| Pearl Abyss Corp. (A) | &nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;33997 |
| POSCO Chemical Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;883 | 126143 |
| POSCO Holdings, Inc. | &nbsp;&nbsp;2484 | 543628 |
| S-1 Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;11844 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **South Korea (continued)** |  |  |
| Samsung Biologics Company, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;586 | $&nbsp;&nbsp;&nbsp;&nbsp;381026 |
| Samsung C&T Corp. (A) | &nbsp;&nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;246129 |
| Samsung Electro-Mechanics Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1863 | &nbsp;&nbsp;&nbsp;&nbsp;193478 |
| Samsung Electronics Company, Ltd. | 163163 | &nbsp;&nbsp;&nbsp;7161753 |
| Samsung Engineering Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;6723 | &nbsp;&nbsp;&nbsp;&nbsp;118935 |
| Samsung Fire & Marine Insurance Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;192736 |
| Samsung Heavy Industries Company, Ltd. (A) | &nbsp;&nbsp;20659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83727 |
| Samsung Life Insurance Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;&nbsp;131908 |
| Samsung SDI Company, Ltd. | &nbsp;&nbsp;&nbsp;1864 | &nbsp;&nbsp;&nbsp;&nbsp;875227 |
| Samsung SDS Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99214 |
| Samsung Securities Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36813 |
| SD Biosensor, Inc. | &nbsp;&nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40590 |
| Seegene, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20490 |
| Shinhan Financial Group Company, Ltd. | &nbsp;&nbsp;14320 | &nbsp;&nbsp;&nbsp;&nbsp;398661 |
| Shinhan Financial Group Company, Ltd., ADR | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9776 |
| SK Biopharmaceuticals Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30189 |
| SK Bioscience Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44678 |
| SK Hynix, Inc. | &nbsp;&nbsp;18713 | &nbsp;&nbsp;&nbsp;1116493 |
| SK IE Technology Company, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25398 |
| SK Innovation Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;1838 | &nbsp;&nbsp;&nbsp;&nbsp;224543 |
| SK Square Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;3395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90370 |
| SK, Inc. | &nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;190365 |
| SKC Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60618 |
| S-Oil Corp. | &nbsp;&nbsp;&nbsp;1876 | &nbsp;&nbsp;&nbsp;&nbsp;124858 |
| Woori Financial Group, Inc. | &nbsp;&nbsp;16990 | &nbsp;&nbsp;&nbsp;&nbsp;155209 |
| Yuhan Corp. (A) | &nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61499 |
|  |  | 22586291 |
| **Spain - 1.6%** |  |  |
| Acciona SA | &nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp;155138 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;8053 | &nbsp;&nbsp;&nbsp;&nbsp;230424 |
| Aena SME SA (A)(B) | &nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp;349623 |
| Amadeus IT Group SA (A) | &nbsp;&nbsp;16293 | &nbsp;&nbsp;&nbsp;&nbsp;845241 |
| Banco Bilbao Vizcaya Argentaria SA | 207178 | &nbsp;&nbsp;&nbsp;1247884 |
| Banco Santander SA | 570902 | &nbsp;&nbsp;&nbsp;1707056 |
| Banco Santander SA (Mexican Stock Exchange) | &nbsp;&nbsp;22856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59244 |
| CaixaBank SA | 163763 | &nbsp;&nbsp;&nbsp;&nbsp;642079 |
| Cellnex Telecom SA (A)(B) | &nbsp;&nbsp;18545 | &nbsp;&nbsp;&nbsp;&nbsp;615159 |
| Corp ACCIONA Energias Renovables SA | &nbsp;&nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86902 |
| EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;9513 | &nbsp;&nbsp;&nbsp;&nbsp;209623 |
| Enagas SA | &nbsp;&nbsp;&nbsp;9787 | &nbsp;&nbsp;&nbsp;&nbsp;162743 |
| Endesa SA | &nbsp;&nbsp;12378 | &nbsp;&nbsp;&nbsp;&nbsp;233282 |
| Ferrovial SA | &nbsp;&nbsp;18504 | &nbsp;&nbsp;&nbsp;&nbsp;484483 |
| Grifols SA (A) | &nbsp;&nbsp;11763 | &nbsp;&nbsp;&nbsp;&nbsp;135844 |
| Iberdrola SA | 203440 | &nbsp;&nbsp;&nbsp;2374849 |
| Industria de Diseno Textil SA | &nbsp;&nbsp;39419 | &nbsp;&nbsp;&nbsp;1047006 |
| Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp;4969 | &nbsp;&nbsp;&nbsp;&nbsp;129139 |
| Red Electrica Corp. SA | &nbsp;&nbsp;16401 | &nbsp;&nbsp;&nbsp;&nbsp;285182 |
| Repsol SA | &nbsp;&nbsp;49663 | &nbsp;&nbsp;&nbsp;&nbsp;790484 |
| Telefonica SA | 183426 | &nbsp;&nbsp;&nbsp;&nbsp;664019 |
|  |  | 12455404 |
| **Sweden - 2.0%** |  |  |
| Alfa Laval AB | &nbsp;&nbsp;11168 | &nbsp;&nbsp;&nbsp;&nbsp;323061 |
| Assa Abloy AB, B Shares | &nbsp;&nbsp;34547 | &nbsp;&nbsp;&nbsp;&nbsp;743081 |
| Atlas Copco AB, A Shares | &nbsp;&nbsp;92584 | &nbsp;&nbsp;&nbsp;1096972 |
| Atlas Copco AB, B Shares | &nbsp;&nbsp;53800 | &nbsp;&nbsp;&nbsp;&nbsp;574027 |
| Boliden AB | &nbsp;&nbsp;&nbsp;9749 | &nbsp;&nbsp;&nbsp;&nbsp;366194 |
| Electrolux AB, Series B | &nbsp;&nbsp;&nbsp;9015 | &nbsp;&nbsp;&nbsp;&nbsp;121801 |
| Embracer Group AB (A) | &nbsp;&nbsp;21941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99611 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Sweden (continued)** |  |  |
| Epiroc AB, A Shares | &nbsp;&nbsp;22715 | $&nbsp;&nbsp;&nbsp;&nbsp;413620 |
| Epiroc AB, B Shares | &nbsp;&nbsp;14979 | &nbsp;&nbsp;&nbsp;&nbsp;240970 |
| EQT AB | &nbsp;&nbsp;11030 | &nbsp;&nbsp;&nbsp;&nbsp;234335 |
| Essity AB, B Shares | &nbsp;&nbsp;20983 | &nbsp;&nbsp;&nbsp;&nbsp;549486 |
| Evolution AB (B) | &nbsp;&nbsp;&nbsp;6247 | &nbsp;&nbsp;&nbsp;&nbsp;608486 |
| Fastighets AB Balder, B Shares (A) | &nbsp;&nbsp;24258 | &nbsp;&nbsp;&nbsp;&nbsp;113219 |
| Getinge AB, B Shares | &nbsp;&nbsp;&nbsp;8639 | &nbsp;&nbsp;&nbsp;&nbsp;179610 |
| Hennes & Mauritz AB, B Shares | &nbsp;&nbsp;25173 | &nbsp;&nbsp;&nbsp;&nbsp;271275 |
| Hexagon AB, B Shares | &nbsp;&nbsp;67089 | &nbsp;&nbsp;&nbsp;&nbsp;703434 |
| Holmen AB, B Shares | &nbsp;&nbsp;&nbsp;3205 | &nbsp;&nbsp;&nbsp;&nbsp;127383 |
| Husqvarna AB, B Shares | &nbsp;&nbsp;16345 | &nbsp;&nbsp;&nbsp;&nbsp;114798 |
| Industrivarden AB, A Shares | &nbsp;&nbsp;&nbsp;5394 | &nbsp;&nbsp;&nbsp;&nbsp;131199 |
| Industrivarden AB, C Shares | &nbsp;&nbsp;&nbsp;6375 | &nbsp;&nbsp;&nbsp;&nbsp;154673 |
| Indutrade AB | &nbsp;&nbsp;&nbsp;9332 | &nbsp;&nbsp;&nbsp;&nbsp;189248 |
| Investment AB Latour, B Shares | &nbsp;&nbsp;&nbsp;5907 | &nbsp;&nbsp;&nbsp;&nbsp;111713 |
| Investor AB, A Shares | &nbsp;&nbsp;17189 | &nbsp;&nbsp;&nbsp;&nbsp;319796 |
| Investor AB, B Shares | &nbsp;&nbsp;62798 | &nbsp;&nbsp;&nbsp;1136704 |
| Kinnevik AB, B Shares (A) | &nbsp;&nbsp;&nbsp;8775 | &nbsp;&nbsp;&nbsp;&nbsp;120781 |
| L.E. Lundbergforetagen AB, B Shares | &nbsp;&nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;132249 |
| Lifco AB, B Shares | &nbsp;&nbsp;&nbsp;9142 | &nbsp;&nbsp;&nbsp;&nbsp;153022 |
| Nibe Industrier AB, B Shares | &nbsp;&nbsp;51776 | &nbsp;&nbsp;&nbsp;&nbsp;483266 |
| Sagax AB, B Shares | &nbsp;&nbsp;&nbsp;6422 | &nbsp;&nbsp;&nbsp;&nbsp;145910 |
| Sandvik AB | &nbsp;&nbsp;38912 | &nbsp;&nbsp;&nbsp;&nbsp;703202 |
| Securitas AB, B Shares | &nbsp;&nbsp;20108 | &nbsp;&nbsp;&nbsp;&nbsp;167790 |
| Skandinaviska Enskilda Banken AB, A Shares | &nbsp;&nbsp;57777 | &nbsp;&nbsp;&nbsp;&nbsp;665179 |
| Skanska AB, B Shares | &nbsp;&nbsp;12918 | &nbsp;&nbsp;&nbsp;&nbsp;204782 |
| SKF AB, B Shares | &nbsp;&nbsp;14059 | &nbsp;&nbsp;&nbsp;&nbsp;214731 |
| Svenska Cellulosa AB SCA, B Shares | &nbsp;&nbsp;20883 | &nbsp;&nbsp;&nbsp;&nbsp;264476 |
| Svenska Handelsbanken AB, A Shares | &nbsp;&nbsp;50274 | &nbsp;&nbsp;&nbsp;&nbsp;506158 |
| Swedbank AB, A Shares | &nbsp;&nbsp;31214 | &nbsp;&nbsp;&nbsp;&nbsp;530921 |
| Swedish Orphan Biovitrum AB (A) | &nbsp;&nbsp;&nbsp;5771 | &nbsp;&nbsp;&nbsp;&nbsp;119442 |
| Tele2 AB, B Shares | &nbsp;&nbsp;17728 | &nbsp;&nbsp;&nbsp;&nbsp;144622 |
| Telefonaktiebolaget LM Ericsson, B Shares | 100604 | &nbsp;&nbsp;&nbsp;&nbsp;589480 |
| Telia Company AB | &nbsp;&nbsp;91625 | &nbsp;&nbsp;&nbsp;&nbsp;234127 |
| Volvo AB, A Shares | &nbsp;&nbsp;&nbsp;8008 | &nbsp;&nbsp;&nbsp;&nbsp;152042 |
| Volvo AB, B Shares | &nbsp;&nbsp;51555 | &nbsp;&nbsp;&nbsp;&nbsp;931269 |
| Volvo Car AB, B Shares (A) | &nbsp;&nbsp;20359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92703 |
|  |  | 15480848 |
| **Switzerland - 6.8%** |  |  |
| ABB, Ltd. | &nbsp;&nbsp;53671 | &nbsp;&nbsp;&nbsp;1635759 |
| Adecco Group AG | &nbsp;&nbsp;&nbsp;6058 | &nbsp;&nbsp;&nbsp;&nbsp;199277 |
| Alcon, Inc. | &nbsp;&nbsp;17168 | &nbsp;&nbsp;&nbsp;1178050 |
| Bachem Holding AG | &nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;110632 |
| Baloise Holding AG | &nbsp;&nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp;290217 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98657 |
| Barry Callebaut AG | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;268566 |
| BKW AG | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98649 |
| Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;411534 |
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;377031 |
| Cie Financiere Richemont SA, A Shares | &nbsp;&nbsp;17834 | &nbsp;&nbsp;&nbsp;2312356 |
| Clariant AG (A) | &nbsp;&nbsp;&nbsp;8258 | &nbsp;&nbsp;&nbsp;&nbsp;131149 |
| Coca-Cola HBC AG (A) | &nbsp;&nbsp;&nbsp;8067 | &nbsp;&nbsp;&nbsp;&nbsp;190695 |
| Credit Suisse Group AG | 123798 | &nbsp;&nbsp;&nbsp;&nbsp;369593 |
| EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;163230 |
| Geberit AG | &nbsp;&nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;616065 |
| Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;970942 |
| Glencore PLC | 342145 | &nbsp;&nbsp;&nbsp;2281656 |
| Holcim, Ltd. (A) | &nbsp;&nbsp;12218 | &nbsp;&nbsp;&nbsp;&nbsp;632444 |
| Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;7301 | &nbsp;&nbsp;&nbsp;&nbsp;424926 |
| Kuehne + Nagel International AG | &nbsp;&nbsp;&nbsp;2065 | &nbsp;&nbsp;&nbsp;&nbsp;480077 |
| Logitech International SA | &nbsp;&nbsp;&nbsp;6403 | &nbsp;&nbsp;&nbsp;&nbsp;397047 |
| Lonza Group AG | &nbsp;&nbsp;&nbsp;2544 | &nbsp;&nbsp;&nbsp;1248787 |
| Nestle SA | &nbsp;&nbsp;93903 | 10846682 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland (continued)** |  |  |
| Novartis AG | &nbsp;&nbsp;73871 | $&nbsp;&nbsp;&nbsp;6685137 |
| Partners Group Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp;726982 |
| Roche Holding AG | &nbsp;&nbsp;24003 | &nbsp;&nbsp;&nbsp;7542644 |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;353009 |
| Schindler Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;145363 |
| Schindler Holding AG, Participation Certificates | &nbsp;&nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;&nbsp;297546 |
| SGS SA | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;512455 |
| SIG Group AG (A) | &nbsp;&nbsp;10451 | &nbsp;&nbsp;&nbsp;&nbsp;228367 |
| Sika AG | &nbsp;&nbsp;&nbsp;5094 | &nbsp;&nbsp;&nbsp;1224614 |
| Sonova Holding AG | &nbsp;&nbsp;&nbsp;1838 | &nbsp;&nbsp;&nbsp;&nbsp;436523 |
| STMicroelectronics NV | &nbsp;&nbsp;24696 | &nbsp;&nbsp;&nbsp;&nbsp;877595 |
| Straumann Holding AG | &nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;435751 |
| Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;593809 |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;3037 | &nbsp;&nbsp;&nbsp;&nbsp;263225 |
| Swiss Re AG | &nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;1019165 |
| Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp;485361 |
| Temenos AG | &nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;140614 |
| The Swatch Group AG | &nbsp;&nbsp;&nbsp;2395 | &nbsp;&nbsp;&nbsp;&nbsp;124533 |
| The Swatch Group AG, Bearer Shares | &nbsp;&nbsp;&nbsp;1191 | &nbsp;&nbsp;&nbsp;&nbsp;338507 |
| UBS Group AG | 114336 | &nbsp;&nbsp;&nbsp;2125075 |
| VAT Group AG (B) | &nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp;277263 |
| Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;5140 | &nbsp;&nbsp;&nbsp;2457318 |
|  |  | 53024877 |
| **Taiwan - 3.7%** |  |  |
| Accton Technology Corp. | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;129095 |
| Acer, Inc. | &nbsp;&nbsp;99018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75604 |
| Advantech Company, Ltd. | &nbsp;&nbsp;13296 | &nbsp;&nbsp;&nbsp;&nbsp;142366 |
| ASE Technology Holding Company, Ltd. | 111338 | &nbsp;&nbsp;&nbsp;&nbsp;338287 |
| Asia Cement Corp. | &nbsp;&nbsp;72863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97053 |
| Asustek Computer, Inc. | &nbsp;&nbsp;23952 | &nbsp;&nbsp;&nbsp;&nbsp;208794 |
| AUO Corp. | 219061 | &nbsp;&nbsp;&nbsp;&nbsp;106419 |
| Catcher Technology Company, Ltd. | &nbsp;&nbsp;22184 | &nbsp;&nbsp;&nbsp;&nbsp;121832 |
| Cathay Financial Holding Company, Ltd. | 285373 | &nbsp;&nbsp;&nbsp;&nbsp;370542 |
| Chailease Holding Company, Ltd. | &nbsp;&nbsp;47255 | &nbsp;&nbsp;&nbsp;&nbsp;332920 |
| Chang Hwa Commercial Bank, Ltd. | 116003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64635 |
| Cheng Shin Rubber Industry Company, Ltd. | &nbsp;&nbsp;43680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48075 |
| China Airlines, Ltd. | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57888 |
| China Development Financial Holding Corp. | 504133 | &nbsp;&nbsp;&nbsp;&nbsp;206308 |
| China Steel Corp. | 403388 | &nbsp;&nbsp;&nbsp;&nbsp;390878 |
| Chunghwa Telecom Company, Ltd. | 127148 | &nbsp;&nbsp;&nbsp;&nbsp;467602 |
| Compal Electronics, Inc. | 139764 | &nbsp;&nbsp;&nbsp;&nbsp;104686 |
| CTBC Financial Holding Company, Ltd. | 586465 | &nbsp;&nbsp;&nbsp;&nbsp;420838 |
| Delta Electronics, Inc. | &nbsp;&nbsp;64866 | &nbsp;&nbsp;&nbsp;&nbsp;601307 |
| E Ink Holdings, Inc. | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;151865 |
| E.Sun Financial Holding Company, Ltd. | 438483 | &nbsp;&nbsp;&nbsp;&nbsp;342393 |
| Eclat Textile Company, Ltd. | &nbsp;&nbsp;&nbsp;6259 | &nbsp;&nbsp;&nbsp;&nbsp;100476 |
| eMemory Technology, Inc. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86369 |
| Eva Airways Corp. | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78427 |
| Evergreen Marine Corp. Taiwan, Ltd. | &nbsp;&nbsp;33826 | &nbsp;&nbsp;&nbsp;&nbsp;178778 |
| Far Eastern New Century Corp. | 109875 | &nbsp;&nbsp;&nbsp;&nbsp;113863 |
| Far EasTone Telecommunications Company, Ltd. | &nbsp;&nbsp;45159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96865 |
| Feng TAY Enterprise Company, Ltd. | &nbsp;&nbsp;14520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97277 |
| First Financial Holding Company, Ltd. | 353926 | &nbsp;&nbsp;&nbsp;&nbsp;304842 |
| Formosa Chemicals & Fibre Corp. | 117212 | &nbsp;&nbsp;&nbsp;&nbsp;268452 |
| Formosa Petrochemical Corp. | &nbsp;&nbsp;39720 | &nbsp;&nbsp;&nbsp;&nbsp;103682 |
| Formosa Plastics Corp. | 128086 | &nbsp;&nbsp;&nbsp;&nbsp;361205 |
| Fubon Financial Holding Company, Ltd. | 252283 | &nbsp;&nbsp;&nbsp;&nbsp;461433 |
| Giant Manufacturing Company, Ltd. | &nbsp;&nbsp;10362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67415 |
| Globalwafers Company, Ltd. | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96997 |
| Hon Hai Precision Industry Company, Ltd. | 426368 | &nbsp;&nbsp;&nbsp;1381958 |
| Hotai Motor Company, Ltd. | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;190870 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Taiwan (continued)** |  |  |
| Hua Nan Financial Holdings Company, Ltd. | 296225 | $&nbsp;&nbsp;&nbsp;&nbsp;216143 |
| Innolux Corp. | 249636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89729 |
| Inventec Corp. | &nbsp;&nbsp;89899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76723 |
| Largan Precision Company, Ltd. | &nbsp;&nbsp;&nbsp;3143 | &nbsp;&nbsp;&nbsp;&nbsp;207750 |
| Lite-On Technology Corp. | &nbsp;&nbsp;70626 | &nbsp;&nbsp;&nbsp;&nbsp;145960 |
| MediaTek, Inc. | &nbsp;&nbsp;53340 | &nbsp;&nbsp;&nbsp;1078478 |
| Mega Financial Holding Company, Ltd. | 372212 | &nbsp;&nbsp;&nbsp;&nbsp;366676 |
| Micro-Star International Company, Ltd. | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89195 |
| momo.com, Inc. | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49944 |
| Nan Ya Plastics Corp. | 171992 | &nbsp;&nbsp;&nbsp;&nbsp;396650 |
| Nan Ya Printed Circuit Board Corp. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58786 |
| Nanya Technology Corp. | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61444 |
| Nien Made Enterprise Company, Ltd. | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47778 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp;19361 | &nbsp;&nbsp;&nbsp;&nbsp;197922 |
| Pegatron Corp. | &nbsp;&nbsp;66989 | &nbsp;&nbsp;&nbsp;&nbsp;138219 |
| PharmaEssentia Corp. (A) | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;108480 |
| Pou Chen Corp. | &nbsp;&nbsp;78641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87409 |
| Powerchip Semiconductor Manufacturing Corp. | &nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93879 |
| President Chain Store Corp. | &nbsp;&nbsp;19496 | &nbsp;&nbsp;&nbsp;&nbsp;172377 |
| Quanta Computer, Inc. | &nbsp;&nbsp;90771 | &nbsp;&nbsp;&nbsp;&nbsp;212871 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp;14999 | &nbsp;&nbsp;&nbsp;&nbsp;136401 |
| Ruentex Development Company, Ltd. | &nbsp;&nbsp;57600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81034 |
| Shin Kong Financial Holding Company, Ltd. | 411790 | &nbsp;&nbsp;&nbsp;&nbsp;117382 |
| SinoPac Financial Holdings Company, Ltd. | 342149 | &nbsp;&nbsp;&nbsp;&nbsp;186112 |
| Synnex Technology International Corp. | &nbsp;&nbsp;45928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88245 |
| Taishin Financial Holding Company, Ltd. | 358479 | &nbsp;&nbsp;&nbsp;&nbsp;175831 |
| Taiwan Business Bank | 206000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86588 |
| Taiwan Cement Corp. | 184594 | &nbsp;&nbsp;&nbsp;&nbsp;201792 |
| Taiwan Cooperative Financial Holding Company, Ltd. | 305010 | &nbsp;&nbsp;&nbsp;&nbsp;257711 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61654 |
| Taiwan Mobile Company, Ltd. | &nbsp;&nbsp;55257 | &nbsp;&nbsp;&nbsp;&nbsp;170149 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | 841227 | 12217520 |
| The Shanghai Commercial & Savings Bank, Ltd. | 120142 | &nbsp;&nbsp;&nbsp;&nbsp;172098 |
| Unimicron Technology Corp. | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;155287 |
| Uni-President Enterprises Corp. | 161487 | &nbsp;&nbsp;&nbsp;&nbsp;349541 |
| United Microelectronics Corp. (A) | 388313 | &nbsp;&nbsp;&nbsp;&nbsp;510199 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77860 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;100343 |
| Walsin Lihwa Corp. | &nbsp;&nbsp;87735 | &nbsp;&nbsp;&nbsp;&nbsp;134619 |
| Wan Hai Lines, Ltd. | &nbsp;&nbsp;22770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59181 |
| Win Semiconductors Corp. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48757 |
| Winbond Electronics Corp. | 102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64773 |
| Wiwynn Corp. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77596 |
| WPG Holdings, Ltd. | &nbsp;&nbsp;47840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74704 |
| Ya Hsin Industrial Company, Ltd. (A)(E) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Yageo Corp. | &nbsp;&nbsp;10015 | &nbsp;&nbsp;&nbsp;&nbsp;145965 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;127454 |
| Yuanta Financial Holding Company, Ltd. | 334582 | &nbsp;&nbsp;&nbsp;&nbsp;235790 |
| Zhen Ding Technology Holding, Ltd. | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64631 |
|  |  | 28843926 |
| **Thailand - 0.5%** |  |  |
| Advanced Info Service PCL | &nbsp;&nbsp;48400 | &nbsp;&nbsp;&nbsp;&nbsp;272197 |
| Airports of Thailand PCL (A) | 163100 | &nbsp;&nbsp;&nbsp;&nbsp;353026 |
| Bangkok Dusit Medical Services PCL, NVDR | 387300 | &nbsp;&nbsp;&nbsp;&nbsp;323884 |
| Bangkok Expressway & Metro PCL, NVDR | 354600 | &nbsp;&nbsp;&nbsp;&nbsp;100281 |
| Berli Jucker PCL, NVDR | &nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21680 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thailand (continued)** |  |  |
| BTS Group Holdings PCL, NVDR | 301600 | $&nbsp;&nbsp;&nbsp;&nbsp;73156 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;95435 |
| Central Pattana PCL, NVDR | &nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;131832 |
| Central Retail Corp. PCL | &nbsp;&nbsp;45441 | &nbsp;&nbsp;&nbsp;&nbsp;60663 |
| Charoen Pokphand Foods PCL | 136200 | &nbsp;&nbsp;&nbsp;&nbsp;97379 |
| CP ALL PCL | 184600 | &nbsp;&nbsp;&nbsp;&nbsp;363647 |
| CP ALL PCL, NVDR | &nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;&nbsp;24230 |
| Electricity Generating PCL | &nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;37832 |
| Electricity Generating PCL, NVDR | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6969 |
| Energy Absolute PCL | &nbsp;&nbsp;56900 | &nbsp;&nbsp;&nbsp;&nbsp;159023 |
| Gulf Energy Development PCL, NVDR | &nbsp;&nbsp;79150 | &nbsp;&nbsp;&nbsp;&nbsp;126182 |
| Home Product Center PCL | 204400 | &nbsp;&nbsp;&nbsp;&nbsp;91383 |
| Indorama Ventures PCL, NVDR | &nbsp;&nbsp;54900 | &nbsp;&nbsp;&nbsp;&nbsp;64458 |
| Krung Thai Bank PCL | 164375 | &nbsp;&nbsp;&nbsp;&nbsp;83885 |
| Krungthai Card PCL | &nbsp;&nbsp;30800 | &nbsp;&nbsp;&nbsp;&nbsp;52379 |
| Land & Houses PCL, NVDR | 393400 | &nbsp;&nbsp;&nbsp;&nbsp;112447 |
| Minor International PCL, NVDR (A) | 131483 | &nbsp;&nbsp;&nbsp;&nbsp;122330 |
| Muangthai Capital PCL, NVDR | &nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp;12380 |
| PTT Exploration & Production PCL | &nbsp;&nbsp;60147 | &nbsp;&nbsp;&nbsp;&nbsp;306306 |
| PTT Global Chemical PCL | &nbsp;&nbsp;87373 | &nbsp;&nbsp;&nbsp;&nbsp;118967 |
| PTT PCL | 391000 | &nbsp;&nbsp;&nbsp;&nbsp;375199 |
| PTT PCL, NVDR | &nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp;10076 |
| Ratch Group PCL, NVDR | &nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;23720 |
| SCB X PCL | &nbsp;&nbsp;23348 | &nbsp;&nbsp;&nbsp;&nbsp;72024 |
| Thai Oil PCL | &nbsp;&nbsp;50886 | &nbsp;&nbsp;&nbsp;&nbsp;82483 |
| Thai Union Group PCL | &nbsp;&nbsp;95900 | &nbsp;&nbsp;&nbsp;&nbsp;46781 |
| The Siam Cement PCL | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;118421 |
| The Siam Cement PCL, NVDR | &nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp;141118 |
| True Corp. PCL | 448802 | &nbsp;&nbsp;&nbsp;&nbsp;62684 |
|  |  | 4144457 |
| **Turkey - 0.2%** |  |  |
| Akbank TAS | 100286 | &nbsp;&nbsp;&nbsp;&nbsp;104787 |
| Aselsan Elektronik Sanayi Ve Ticaret AS | &nbsp;&nbsp;14026 | &nbsp;&nbsp;&nbsp;&nbsp;46564 |
| BIM Birlesik Magazalar AS | &nbsp;&nbsp;16428 | &nbsp;&nbsp;&nbsp;&nbsp;120053 |
| Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp;49091 | &nbsp;&nbsp;&nbsp;&nbsp;107872 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp;&nbsp;4572 | &nbsp;&nbsp;&nbsp;&nbsp;128074 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp;34855 | &nbsp;&nbsp;&nbsp;&nbsp;84136 |
| Hektas Ticaret TAS (A) | &nbsp;&nbsp;38876 | &nbsp;&nbsp;&nbsp;&nbsp;78101 |
| KOC Holding AS | &nbsp;&nbsp;25423 | &nbsp;&nbsp;&nbsp;&nbsp;114056 |
| Sasa Polyester Sanayi AS (A) | &nbsp;&nbsp;15298 | &nbsp;&nbsp;&nbsp;&nbsp;90076 |
| Turk Hava Yollari AO (A) | &nbsp;&nbsp;18859 | &nbsp;&nbsp;&nbsp;&nbsp;142063 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp;38572 | &nbsp;&nbsp;&nbsp;&nbsp;77773 |
| Turkiye Is Bankasi AS, Class C | 134602 | &nbsp;&nbsp;&nbsp;&nbsp;92138 |
| Turkiye Petrol Rafinerileri AS (A) | &nbsp;&nbsp;&nbsp;4998 | &nbsp;&nbsp;&nbsp;&nbsp;141647 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp;47094 | &nbsp;&nbsp;&nbsp;&nbsp;107699 |
| Yapi ve Kredi Bankasi AS | 100953 | &nbsp;&nbsp;&nbsp;&nbsp;64043 |
|  |  | 1499082 |
| **United Arab Emirates - 0.0%** |  |  |
| NMC Health PLC (A) | &nbsp;&nbsp;&nbsp;4471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| **United Kingdom - 9.4%** |  |  |
| 3i Group PLC | &nbsp;&nbsp;35664 | &nbsp;&nbsp;&nbsp;&nbsp;575168 |
| abrdn PLC | &nbsp;&nbsp;83799 | &nbsp;&nbsp;&nbsp;&nbsp;190426 |
| Admiral Group PLC | &nbsp;&nbsp;&nbsp;7357 | &nbsp;&nbsp;&nbsp;&nbsp;188862 |
| Anglo American PLC | &nbsp;&nbsp;44317 | 1735457 |
| Ashtead Group PLC | &nbsp;&nbsp;16179 | &nbsp;&nbsp;&nbsp;&nbsp;919049 |
| Associated British Foods PLC | &nbsp;&nbsp;13433 | &nbsp;&nbsp;&nbsp;&nbsp;254674 |
| AstraZeneca PLC | &nbsp;&nbsp;53030 | 7176022 |
| Auto Trader Group PLC (B) | &nbsp;&nbsp;37238 | &nbsp;&nbsp;&nbsp;&nbsp;231895 |
| AVEVA Group PLC | &nbsp;&nbsp;&nbsp;4798 | &nbsp;&nbsp;&nbsp;&nbsp;185717 |
| Aviva PLC | &nbsp;&nbsp;96832 | &nbsp;&nbsp;&nbsp;&nbsp;513662 |
| BAE Systems PLC | 107497 | 1110278 |
| Barclays PLC | 578927 | 1101595 |
| Barratt Developments PLC | &nbsp;&nbsp;38692 | &nbsp;&nbsp;&nbsp;&nbsp;184805 |
| BP PLC | 642493 | 3707165 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;72982 | $2887047 |
| BT Group PLC | &nbsp;&nbsp;237392 | &nbsp;&nbsp;&nbsp;&nbsp;320546 |
| Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;12530 | &nbsp;&nbsp;&nbsp;&nbsp;416877 |
| Burberry Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;15189 | &nbsp;&nbsp;&nbsp;&nbsp;369279 |
| CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp;37712 | &nbsp;&nbsp;&nbsp;&nbsp;604974 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;6887 | &nbsp;&nbsp;&nbsp;&nbsp;380349 |
| Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;60955 | 1407582 |
| Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;5146 | &nbsp;&nbsp;&nbsp;&nbsp;409513 |
| Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;77751 | 3403324 |
| Entain PLC | &nbsp;&nbsp;&nbsp;&nbsp;21740 | &nbsp;&nbsp;&nbsp;&nbsp;346213 |
| GSK PLC | &nbsp;&nbsp;138567 | 2394898 |
| Haleon PLC (A) | &nbsp;&nbsp;173209 | &nbsp;&nbsp;&nbsp;&nbsp;685325 |
| Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;332220 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp;&nbsp;&nbsp;13764 | &nbsp;&nbsp;&nbsp;&nbsp;141742 |
| HSBC Holdings PLC | &nbsp;&nbsp;691905 | 4288129 |
| Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;30847 | &nbsp;&nbsp;&nbsp;&nbsp;768438 |
| Informa PLC | &nbsp;&nbsp;&nbsp;&nbsp;56166 | &nbsp;&nbsp;&nbsp;&nbsp;418987 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;6814 | &nbsp;&nbsp;&nbsp;&nbsp;390981 |
| Intertek Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;6021 | &nbsp;&nbsp;&nbsp;&nbsp;292936 |
| J Sainsbury PLC | &nbsp;&nbsp;&nbsp;&nbsp;71585 | &nbsp;&nbsp;&nbsp;&nbsp;187755 |
| JD Sports Fashion PLC | &nbsp;&nbsp;&nbsp;&nbsp;99578 | &nbsp;&nbsp;&nbsp;&nbsp;151322 |
| Johnson Matthey PLC | &nbsp;&nbsp;&nbsp;&nbsp;7531 | &nbsp;&nbsp;&nbsp;&nbsp;192472 |
| Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;79556 | &nbsp;&nbsp;&nbsp;&nbsp;226038 |
| Land Securities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;25882 | &nbsp;&nbsp;&nbsp;&nbsp;193370 |
| Legal & General Group PLC | &nbsp;&nbsp;217299 | &nbsp;&nbsp;&nbsp;&nbsp;651495 |
| Lloyds Banking Group PLC | 2429420 | 1325774 |
| London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;11262 | &nbsp;&nbsp;&nbsp;&nbsp;967649 |
| M&G PLC | &nbsp;&nbsp;&nbsp;&nbsp;94053 | &nbsp;&nbsp;&nbsp;&nbsp;212679 |
| Melrose Industries PLC | &nbsp;&nbsp;165385 | &nbsp;&nbsp;&nbsp;&nbsp;266454 |
| Mondi PLC | &nbsp;&nbsp;&nbsp;&nbsp;13861 | &nbsp;&nbsp;&nbsp;&nbsp;234403 |
| Mondi PLC (Johannesburg Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;4137 | &nbsp;&nbsp;&nbsp;&nbsp;70755 |
| National Grid PLC | &nbsp;&nbsp;123849 | 1483639 |
| NatWest Group PLC | &nbsp;&nbsp;195705 | &nbsp;&nbsp;&nbsp;&nbsp;624151 |
| Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;4895 | &nbsp;&nbsp;&nbsp;&nbsp;342998 |
| Ocado Group PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;136584 |
| Pearson PLC | &nbsp;&nbsp;&nbsp;&nbsp;23325 | &nbsp;&nbsp;&nbsp;&nbsp;263383 |
| Persimmon PLC | &nbsp;&nbsp;&nbsp;&nbsp;11973 | &nbsp;&nbsp;&nbsp;&nbsp;175557 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;27163 | &nbsp;&nbsp;&nbsp;&nbsp;198983 |
| Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;93830 | 1279406 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;24469 | 1696111 |
| RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;41592 | 1149943 |
| RELX PLC (Euronext Amsterdam Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;24869 | &nbsp;&nbsp;&nbsp;&nbsp;688895 |
| Rentokil Initial PLC | &nbsp;&nbsp;&nbsp;&nbsp;67951 | &nbsp;&nbsp;&nbsp;&nbsp;417477 |
| Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;38611 | 2717612 |
| Rolls-Royce Holdings PLC (A) | &nbsp;&nbsp;310208 | &nbsp;&nbsp;&nbsp;&nbsp;346496 |
| Schroders PLC | &nbsp;&nbsp;&nbsp;&nbsp;29188 | &nbsp;&nbsp;&nbsp;&nbsp;153369 |
| Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;44245 | &nbsp;&nbsp;&nbsp;&nbsp;407599 |
| Severn Trent PLC | &nbsp;&nbsp;&nbsp;&nbsp;9413 | &nbsp;&nbsp;&nbsp;&nbsp;300729 |
| Shell PLC | &nbsp;&nbsp;248052 | 6992823 |
| Smith & Nephew PLC | &nbsp;&nbsp;&nbsp;&nbsp;32440 | &nbsp;&nbsp;&nbsp;&nbsp;433233 |
| Smiths Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;15498 | &nbsp;&nbsp;&nbsp;&nbsp;297440 |
| Spirax-Sarco Engineering PLC | &nbsp;&nbsp;&nbsp;&nbsp;2735 | &nbsp;&nbsp;&nbsp;&nbsp;349345 |
| SSE PLC | &nbsp;&nbsp;&nbsp;&nbsp;39911 | &nbsp;&nbsp;&nbsp;&nbsp;820851 |
| St. James's Place PLC | &nbsp;&nbsp;&nbsp;&nbsp;20193 | &nbsp;&nbsp;&nbsp;&nbsp;266011 |
| Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;85374 | &nbsp;&nbsp;&nbsp;&nbsp;636767 |
| Taylor Wimpey PLC | &nbsp;&nbsp;139593 | &nbsp;&nbsp;&nbsp;&nbsp;170960 |
| Tesco PLC | &nbsp;&nbsp;261234 | &nbsp;&nbsp;&nbsp;&nbsp;703995 |
| The Berkeley Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;4051 | &nbsp;&nbsp;&nbsp;&nbsp;184683 |
| The British Land Company PLC | &nbsp;&nbsp;&nbsp;&nbsp;35353 | &nbsp;&nbsp;&nbsp;&nbsp;167848 |
| The Sage Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;34459 | &nbsp;&nbsp;&nbsp;&nbsp;310295 |
| Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;87494 | 4417405 |
| United Utilities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;26873 | &nbsp;&nbsp;&nbsp;&nbsp;321089 |
| Vodafone Group PLC | &nbsp;&nbsp;946663 | &nbsp;&nbsp;&nbsp;&nbsp;958707 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Whitbread PLC | &nbsp;&nbsp;&nbsp;7669 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237116 |
| WPP PLC | &nbsp;&nbsp;42535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420247 |
|  |  | &nbsp;&nbsp;&nbsp;73086048 |
| **United States - 0.1%** |  |  |
| BeiGene, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373898 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp;&nbsp;5150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141758 |
| Legend Biotech Corp., ADR (A) | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104832 |
| Parade Technologies, Ltd. | &nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695660 |
| TOTAL COMMON STOCKS (Cost $643,054,188) | TOTAL COMMON STOCKS (Cost $643,054,188) | $754644390 |
| **PREFERRED SECURITIES - 0.8%** | **PREFERRED SECURITIES - 0.8%** |  |
| **Brazil - 0.4%** |  |  |
| Alpargatas SA | &nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977 |
| Banco Bradesco SA | 191781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547053 |
| Banco BTG Pactual SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Braskem SA, A Shares | &nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37212 |
| Centrais Eletricas Brasileiras SA, B Shares | &nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46659 |
| Cia Energetica de Minas Gerais | &nbsp;&nbsp;47172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97592 |
| Gerdau SA | &nbsp;&nbsp;43600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239659 |
| Itau Unibanco Holding SA | 173789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823091 |
| Itausa SA | 170619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274343 |
| Petroleo Brasileiro SA | 165151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2835838 |
| **Germany - 0.3%** |  |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176377 |
| Dr. Ing. h.c. F. Porsche AG (A) | &nbsp;&nbsp;&nbsp;3890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392552 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;6583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456284 |
| Porsche Automobil Holding SE | &nbsp;&nbsp;&nbsp;5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310581 |
| Sartorius AG | &nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328931 |
| Volkswagen AG | &nbsp;&nbsp;&nbsp;6332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2450205 |
| **South Korea - 0.1%** |  |  |
| Hyundai Motor Company | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41287 |
| Hyundai Motor Company, 2nd Preferred | &nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70056 |
| LG Chem, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35742 |
| Samsung Electronics Company, Ltd. | &nbsp;&nbsp;28139 | &nbsp;&nbsp;&nbsp;&nbsp;1127624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1274709 |
| TOTAL PREFERRED SECURITIES (Cost $7,437,296) | TOTAL PREFERRED SECURITIES (Cost $7,437,296) | $&nbsp;&nbsp;&nbsp;&nbsp;6560752 |
| **RIGHTS - 0.0%** |  |  |
| Hanwha Solutions Corp. (Expiration Date: 1-10-23; Strike Price: KRW 28,350.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| Localiza Rent a Car SA (Expiration Date: 2-1-23; Strike Price: BRL 42.25) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 |
| Lotte Chemical Corp. (Expiration Date: 1-23-23; Strike Price: KRW 143,000.00) (A) | &nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3144 |
| Thai Union Group PCL (Expiration Date: 1-5-23; Strike Price: THB 32.00) (A)(E) | &nbsp;&nbsp;&nbsp;2723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345 |
| **WARRANTS - 0.0%** |  |  |
| BTS Group Holdings PCL (Expiration Date: 11-20-26; Strike Price: THB 14.90) (A) | &nbsp;&nbsp;60320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521 |
| BTS Group Holdings PCL (Expiration Date: 11-7-24; Strike Price: THB 11.90) (A) | &nbsp;&nbsp;30160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Equity Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS - 1.2%** | **SHORT-TERM INVESTMENTS - 1.2%** |  |
| **Short-term funds - 1.2%** |  |  |
| Fidelity Government Portfolio, Institutional Class, 4.0943% (F) | 9128601 | $&nbsp;&nbsp;&nbsp;&nbsp;9128601 |
| John Hancock Collateral Trust, 4.2988% (F)(G) | &nbsp;&nbsp;&nbsp;&nbsp;14256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142499 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,271,101) | TOTAL SHORT-TERM INVESTMENTS (Cost $9,271,101) | $&nbsp;&nbsp;&nbsp;&nbsp;9271100 |
| **Total Investments (International Equity Index Trust)<br> (Cost $659,762,585) - 98.8%** | **Total Investments (International Equity Index Trust)<br> (Cost $659,762,585) - 98.8%** | $**770480352** |
| **Other assets and liabilities, net - 1.2%** | **Other assets and liabilities, net - 1.2%** | &nbsp;&nbsp;&nbsp;&nbsp;**8980448** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**779460800** |

---

<u>Currency Abbreviations</u> <br> BRL Brazilian Real <br> KRW Korean Won

---

| | |
|:---|:---|
| THB | Thai Bhat |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (D) | All or a portion of this security is on loan as of 12-31-22. |
| (E) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (F) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (G) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3272680 | &nbsp;&nbsp;&nbsp;&nbsp;$3216180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(56500) |
| Mini MSCI Emerging Markets Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;14814844 | &nbsp;&nbsp;&nbsp;&nbsp;14435960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(378884) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(435384)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### International Small Company Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS - 98.7%** | **COMMON STOCKS - 98.7%** |  |
| **Australia - 6.4%** |  |  |
| A2B Australia, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9047 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 |
| Accent Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28417 |
| Adairs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10618 |
| Adbri, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21405 |
| Ainsworth Game Technology, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7505 |
| Alcidion Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4244 |
| Alkane Resources, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9146 |
| Alliance Aviation Services, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6886 |
| AMA Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 |
| AMP, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90978 |
| Ansell, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70954 |
| Appen, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331 |
| Arafura Rare Earths, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49551 |
| ARB Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55207 |
| Archer Materials, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4205 |
| Ardent Leisure Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16084 |
| AUB Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80194 |
| Audinate Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17078 |
| Aurelia Metals, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7214 |
| Aussie Broadband, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14106 |
| Austal, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32796 |
| Australian Agricultural Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33474 |
| Australian Finance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14774 |
| Australian Strategic Materials, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522 |
| Auswide Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2823 |
| AVZ Minerals, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39044 |
| Baby Bunting Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10232 |
| Bapcor, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68405 |

---

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Base Resources, Ltd. | &nbsp;&nbsp;32069 | $&nbsp;&nbsp;&nbsp;4925 |
| Beach Energy, Ltd. | &nbsp;&nbsp;27676 | 30052 |
| Beacon Lighting Group, Ltd. | &nbsp;&nbsp;&nbsp;6266 | &nbsp;&nbsp;&nbsp;9079 |
| Bega Cheese, Ltd. | &nbsp;&nbsp;15122 | 39928 |
| Bell Financial Group, Ltd. | &nbsp;&nbsp;10635 | &nbsp;&nbsp;&nbsp;7046 |
| Bellevue Gold, Ltd. (A) | &nbsp;&nbsp;54153 | 42002 |
| Betmakers Technology Group, Ltd. (A) | &nbsp;&nbsp;14102 | &nbsp;&nbsp;&nbsp;2621 |
| Bigtincan Holdings, Ltd. (A) | &nbsp;&nbsp;29230 | 10501 |
| Blackmores, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;796 | 39079 |
| Boral, Ltd. | &nbsp;&nbsp;21191 | 41563 |
| Bravura Solutions, Ltd. | &nbsp;&nbsp;17804 | 10576 |
| Breville Group, Ltd. | &nbsp;&nbsp;&nbsp;4635 | 57555 |
| Brickworks, Ltd. | &nbsp;&nbsp;&nbsp;3876 | 58311 |
| Bubs Australia, Ltd. (A) | &nbsp;&nbsp;28812 | &nbsp;&nbsp;&nbsp;5856 |
| BWX, Ltd. (A) | &nbsp;&nbsp;&nbsp;9946 | &nbsp;&nbsp;&nbsp;1139 |
| Calidus Resources, Ltd. (A) | &nbsp;&nbsp;27986 | &nbsp;&nbsp;&nbsp;5187 |
| Capitol Health, Ltd. | &nbsp;&nbsp;41735 | &nbsp;&nbsp;&nbsp;9071 |
| Capricorn Metals, Ltd. (A) | &nbsp;&nbsp;13300 | 41705 |
| Carnarvon Energy, Ltd. (A) | &nbsp;&nbsp;51813 | &nbsp;&nbsp;&nbsp;5254 |
| Cash Converters International, Ltd. | &nbsp;&nbsp;14501 | &nbsp;&nbsp;&nbsp;2318 |
| Cedar Woods Properties, Ltd. | &nbsp;&nbsp;&nbsp;5696 | 16712 |
| Champion Iron, Ltd. | &nbsp;&nbsp;&nbsp;5107 | 25267 |
| City Chic Collective, Ltd. (A) | &nbsp;&nbsp;&nbsp;9410 | &nbsp;&nbsp;&nbsp;3030 |
| Clinuvel Pharmaceuticals, Ltd. | &nbsp;&nbsp;&nbsp;2335 | 34136 |
| Clover Corp., Ltd. | &nbsp;&nbsp;&nbsp;8155 | &nbsp;&nbsp;&nbsp;6900 |
| Codan, Ltd. | &nbsp;&nbsp;&nbsp;5320 | 14729 |
| Collins Foods, Ltd. | &nbsp;&nbsp;&nbsp;8677 | 42358 |
| Cooper Energy, Ltd. (A) | 158205 | 19817 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Corporate Travel Management, Ltd. | &nbsp;&nbsp;&nbsp;4156 | $41379 |
| Costa Group Holdings, Ltd. | &nbsp;&nbsp;18556 | 34671 |
| Credit Corp. Group, Ltd. | &nbsp;&nbsp;&nbsp;3047 | 38630 |
| CSR, Ltd. | &nbsp;&nbsp;25551 | 81707 |
| Data#3, Ltd. | &nbsp;&nbsp;&nbsp;9073 | 41900 |
| De Grey Mining, Ltd. (A) | &nbsp;&nbsp;62572 | 55105 |
| Dicker Data, Ltd. | &nbsp;&nbsp;&nbsp;2871 | 19897 |
| Domain Holdings Australia, Ltd. | &nbsp;&nbsp;11859 | 21693 |
| Downer EDI, Ltd. | &nbsp;&nbsp;26043 | 65449 |
| Eagers Automotive, Ltd. | &nbsp;&nbsp;&nbsp;7533 | 55220 |
| Eclipx Group, Ltd. (A) | &nbsp;&nbsp;16681 | 22820 |
| Elders, Ltd. | &nbsp;&nbsp;&nbsp;6553 | 44981 |
| Emeco Holdings, Ltd. | &nbsp;&nbsp;22924 | 11962 |
| Emerald Resources NL (A) | &nbsp;&nbsp;28411 | 22977 |
| EML Payments, Ltd. (A) | &nbsp;&nbsp;16327 | &nbsp;&nbsp;&nbsp;6929 |
| Enero Group, Ltd. | &nbsp;&nbsp;&nbsp;3952 | &nbsp;&nbsp;&nbsp;7589 |
| EQT Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;957 | 16294 |
| Estia Health, Ltd. | &nbsp;&nbsp;11708 | 16424 |
| EVT, Ltd. | &nbsp;&nbsp;&nbsp;5448 | 46970 |
| Finbar Group, Ltd. | &nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;3629 |
| Fleetwood, Ltd. | &nbsp;&nbsp;&nbsp;8058 | &nbsp;&nbsp;&nbsp;7809 |
| Flight Centre Travel Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;5869 | 57439 |
| Frontier Digital Ventures, Ltd. (A) | &nbsp;&nbsp;10734 | &nbsp;&nbsp;&nbsp;4947 |
| G8 Education, Ltd. | &nbsp;&nbsp;51376 | 38668 |
| Galan Lithium, Ltd. (A) | &nbsp;&nbsp;13760 | &nbsp;&nbsp;&nbsp;9925 |
| Gold Road Resources, Ltd. | &nbsp;&nbsp;44498 | 51508 |
| GrainCorp, Ltd., Class A | &nbsp;&nbsp;&nbsp;9793 | 49372 |
| Grange Resources, Ltd. | &nbsp;&nbsp;21083 | 12093 |
| GUD Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7010 | 35939 |
| GWA Group, Ltd. | &nbsp;&nbsp;12453 | 17314 |
| Hansen Technologies, Ltd. | &nbsp;&nbsp;11735 | 41053 |
| Healius, Ltd. | &nbsp;&nbsp;23643 | 49263 |
| Helia Group, Ltd. | &nbsp;&nbsp;18245 | 34047 |
| Highfield Resources, Ltd. (A) | &nbsp;&nbsp;13495 | &nbsp;&nbsp;&nbsp;5325 |
| HT&E, Ltd. | &nbsp;&nbsp;20357 | 13247 |
| HUB24, Ltd. | &nbsp;&nbsp;&nbsp;3277 | 58568 |
| Humm Group, Ltd. | &nbsp;&nbsp;27415 | 10476 |
| Iluka Resources, Ltd. | &nbsp;&nbsp;&nbsp;3056 | 19658 |
| Imdex, Ltd. | &nbsp;&nbsp;20483 | 30833 |
| Infomedia, Ltd. | &nbsp;&nbsp;17584 | 14343 |
| Inghams Group, Ltd. | &nbsp;&nbsp;20588 | 39916 |
| Insignia Financial, Ltd. | &nbsp;&nbsp;32271 | 73425 |
| Integral Diagnostics, Ltd. | &nbsp;&nbsp;13604 | 27088 |
| Integrated Research, Ltd. (A) | &nbsp;&nbsp;&nbsp;3367 | &nbsp;&nbsp;&nbsp;1042 |
| InvoCare, Ltd. | &nbsp;&nbsp;&nbsp;6357 | 47551 |
| Ioneer, Ltd. (A) | &nbsp;&nbsp;61614 | 15774 |
| IPH, Ltd. | &nbsp;&nbsp;&nbsp;9953 | 58499 |
| IRESS, Ltd. | &nbsp;&nbsp;&nbsp;7892 | 51013 |
| IVE Group, Ltd. | &nbsp;&nbsp;11452 | 18355 |
| Johns Lyng Group, Ltd. | &nbsp;&nbsp;11256 | 47325 |
| Jumbo Interactive, Ltd. | &nbsp;&nbsp;&nbsp;2253 | 21389 |
| Jupiter Mines, Ltd. | 116266 | 17479 |
| Karoon Energy, Ltd. (A) | &nbsp;&nbsp;31460 | 47275 |
| Kelsian Group, Ltd. | &nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;9399 |
| Kogan.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;4629 |
| Lifestyle Communities, Ltd. | &nbsp;&nbsp;&nbsp;4254 | 54613 |
| Link Administration Holdings, Ltd. | &nbsp;&nbsp;18547 | 24920 |
| Lovisa Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3846 | 60382 |
| MA Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;4146 | 12775 |
| Macmahon Holdings, Ltd. | 112440 | 11080 |
| Macquarie Telecom Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;9017 |
| Magellan Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;1591 | &nbsp;&nbsp;&nbsp;9626 |
| Mayne Pharma Group, Ltd. (A) | &nbsp;&nbsp;99135 | 13473 |
| McMillan Shakespeare, Ltd. | &nbsp;&nbsp;&nbsp;3346 | 30568 |
| McPherson's, Ltd. | &nbsp;&nbsp;&nbsp;9168 | &nbsp;&nbsp;&nbsp;4147 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Mesoblast, Ltd. (A) | &nbsp;&nbsp;11677 | $&nbsp;&nbsp;&nbsp;&nbsp;6933 |
| Metals X, Ltd. (A) | &nbsp;&nbsp;48765 | &nbsp;&nbsp;&nbsp;12727 |
| Metcash, Ltd. | &nbsp;&nbsp;11281 | &nbsp;&nbsp;&nbsp;30507 |
| Michael Hill International, Ltd. | &nbsp;&nbsp;16629 | &nbsp;&nbsp;&nbsp;12363 |
| Mincor Resources NL (A) | &nbsp;&nbsp;15835 | &nbsp;&nbsp;&nbsp;16127 |
| MMA Offshore, Ltd. (A) | &nbsp;&nbsp;25635 | &nbsp;&nbsp;&nbsp;16555 |
| Monadelphous Group, Ltd. | &nbsp;&nbsp;&nbsp;5646 | &nbsp;&nbsp;&nbsp;51300 |
| Monash IVF Group, Ltd. | &nbsp;&nbsp;21798 | &nbsp;&nbsp;&nbsp;14119 |
| Mount Gibson Iron, Ltd. (A) | &nbsp;&nbsp;19096 | &nbsp;&nbsp;&nbsp;&nbsp;6302 |
| Myer Holdings, Ltd. | &nbsp;&nbsp;63302 | &nbsp;&nbsp;&nbsp;29275 |
| MyState, Ltd. | &nbsp;&nbsp;&nbsp;5518 | &nbsp;&nbsp;&nbsp;14690 |
| Nanosonics, Ltd. (A) | &nbsp;&nbsp;11541 | &nbsp;&nbsp;&nbsp;33541 |
| Navigator Global Investments, Ltd. | &nbsp;&nbsp;11684 | &nbsp;&nbsp;&nbsp;&nbsp;9179 |
| Netwealth Group, Ltd. | &nbsp;&nbsp;&nbsp;4931 | &nbsp;&nbsp;&nbsp;40398 |
| New Hope Corp., Ltd. | &nbsp;&nbsp;24235 | 104082 |
| Newcrest Mining, Ltd. (Toronto Stock Exchange) | &nbsp;&nbsp;&nbsp;2787 | &nbsp;&nbsp;&nbsp;38985 |
| nib holdings, Ltd. | &nbsp;&nbsp;22359 | 116934 |
| Nick Scali, Ltd. | &nbsp;&nbsp;&nbsp;5272 | &nbsp;&nbsp;&nbsp;37869 |
| Nickel Industries, Ltd. | &nbsp;&nbsp;52112 | &nbsp;&nbsp;&nbsp;34482 |
| Nine Entertainment Company Holdings, Ltd. | &nbsp;&nbsp;57796 | &nbsp;&nbsp;&nbsp;72104 |
| Novonix, Ltd. (A) | &nbsp;&nbsp;10082 | &nbsp;&nbsp;&nbsp;&nbsp;9930 |
| NRW Holdings, Ltd. | &nbsp;&nbsp;25786 | &nbsp;&nbsp;&nbsp;49218 |
| Nufarm, Ltd. | &nbsp;&nbsp;21032 | &nbsp;&nbsp;&nbsp;87684 |
| Objective Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;8203 |
| OceanaGold Corp. (A) | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;72408 |
| OFX Group, Ltd. (A) | &nbsp;&nbsp;14134 | &nbsp;&nbsp;&nbsp;22890 |
| Omni Bridgeway, Ltd. (A) | &nbsp;&nbsp;15737 | &nbsp;&nbsp;&nbsp;38731 |
| oOh!media, Ltd. | &nbsp;&nbsp;31712 | &nbsp;&nbsp;&nbsp;27506 |
| Orora, Ltd. | &nbsp;&nbsp;40091 | &nbsp;&nbsp;&nbsp;78472 |
| Pacific Current Group, Ltd. | &nbsp;&nbsp;&nbsp;1717 | &nbsp;&nbsp;&nbsp;&nbsp;8544 |
| Pact Group Holdings, Ltd. | &nbsp;&nbsp;11275 | &nbsp;&nbsp;&nbsp;&nbsp;7821 |
| Paladin Energy, Ltd. (A) | 119046 | &nbsp;&nbsp;&nbsp;56174 |
| Panoramic Resources, Ltd. (A) | &nbsp;&nbsp;68650 | &nbsp;&nbsp;&nbsp;&nbsp;8163 |
| Pantoro, Ltd. (A) | &nbsp;&nbsp;50794 | &nbsp;&nbsp;&nbsp;&nbsp;3353 |
| Pantoro, Ltd., Additional Offering (A) | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 |
| Peet, Ltd. | &nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;10645 |
| Pendal Group, Ltd. | &nbsp;&nbsp;12114 | &nbsp;&nbsp;&nbsp;41053 |
| PeopleIN, Ltd. | &nbsp;&nbsp;&nbsp;4845 | &nbsp;&nbsp;&nbsp;10435 |
| Perenti, Ltd. (A) | &nbsp;&nbsp;35432 | &nbsp;&nbsp;&nbsp;31734 |
| Perpetual, Ltd. | &nbsp;&nbsp;&nbsp;2227 | &nbsp;&nbsp;&nbsp;36992 |
| Perseus Mining, Ltd. | &nbsp;&nbsp;68083 | &nbsp;&nbsp;&nbsp;97969 |
| PEXA Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;2466 | &nbsp;&nbsp;&nbsp;19819 |
| Pinnacle Investment Management Group, Ltd. | &nbsp;&nbsp;&nbsp;5460 | &nbsp;&nbsp;&nbsp;32329 |
| Platinum Asset Management, Ltd. | &nbsp;&nbsp;22136 | &nbsp;&nbsp;&nbsp;26804 |
| PolyNovo, Ltd. (A) | &nbsp;&nbsp;27238 | &nbsp;&nbsp;&nbsp;37423 |
| Poseidon Nickel, Ltd. (A) | &nbsp;&nbsp;71048 | &nbsp;&nbsp;&nbsp;&nbsp;1926 |
| Poseidon Nickel, Ltd., Additional Offering (A) | &nbsp;&nbsp;30082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 |
| Praemium, Ltd. | &nbsp;&nbsp;28131 | &nbsp;&nbsp;&nbsp;15247 |
| Premier Investments, Ltd. | &nbsp;&nbsp;&nbsp;4408 | &nbsp;&nbsp;&nbsp;73855 |
| Propel Funeral Partners, Ltd. | &nbsp;&nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp;8454 |
| PSC Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;5616 | &nbsp;&nbsp;&nbsp;19066 |
| PWR Holdings, Ltd. | &nbsp;&nbsp;&nbsp;4736 | &nbsp;&nbsp;&nbsp;34518 |
| Ramelius Resources, Ltd. | &nbsp;&nbsp;38169 | &nbsp;&nbsp;&nbsp;24404 |
| ReadyTech Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;4809 | &nbsp;&nbsp;&nbsp;11111 |
| Red 5, Ltd. (A) | 215569 | &nbsp;&nbsp;&nbsp;30547 |
| Redbubble, Ltd. (A) | &nbsp;&nbsp;13929 | &nbsp;&nbsp;&nbsp;&nbsp;4894 |
| Regis Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;9267 | &nbsp;&nbsp;&nbsp;11906 |
| Regis Resources, Ltd. | &nbsp;&nbsp;35749 | &nbsp;&nbsp;&nbsp;50313 |
| Resolute Mining, Ltd. (A) | &nbsp;&nbsp;88090 | &nbsp;&nbsp;&nbsp;11912 |
| Ridley Corp., Ltd. | &nbsp;&nbsp;19540 | &nbsp;&nbsp;&nbsp;26223 |
| RPMGlobal Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;6670 | &nbsp;&nbsp;&nbsp;&nbsp;7917 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Australia (continued)** |  |  |
| Sandfire Resources, Ltd. | 21317 | $&nbsp;&nbsp;&nbsp;&nbsp;78836 |
| Select Harvests, Ltd. | &nbsp;&nbsp;7048 | &nbsp;&nbsp;&nbsp;&nbsp;18693 |
| Servcorp, Ltd. | &nbsp;&nbsp;3171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 |
| Service Stream, Ltd. | 27275 | &nbsp;&nbsp;&nbsp;&nbsp;12648 |
| Seven West Media, Ltd. (A) | 85038 | &nbsp;&nbsp;&nbsp;&nbsp;22817 |
| SG Fleet Group, Ltd. | &nbsp;&nbsp;8938 | &nbsp;&nbsp;&nbsp;&nbsp;11077 |
| Sierra Rutile Holdings, Ltd. (A) | 14764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251 |
| Sigma Healthcare, Ltd. | 86903 | &nbsp;&nbsp;&nbsp;&nbsp;36059 |
| Silver Lake Resources, Ltd. (A) | 48508 | &nbsp;&nbsp;&nbsp;&nbsp;39487 |
| Silver Mines, Ltd. (A) | 71260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9822 |
| Sims, Ltd. | &nbsp;&nbsp;7974 | &nbsp;&nbsp;&nbsp;&nbsp;70692 |
| SmartGroup Corp., Ltd. | &nbsp;&nbsp;8029 | &nbsp;&nbsp;&nbsp;&nbsp;27800 |
| SolGold PLC (A) | 65333 | &nbsp;&nbsp;&nbsp;&nbsp;12730 |
| Solvar, Ltd. | &nbsp;&nbsp;9169 | &nbsp;&nbsp;&nbsp;&nbsp;11425 |
| Southern Cross Media Group, Ltd. | 17291 | &nbsp;&nbsp;&nbsp;&nbsp;12533 |
| SRG Global, Ltd. | 31157 | &nbsp;&nbsp;&nbsp;&nbsp;14648 |
| St. Barbara, Ltd. (A) | 33249 | &nbsp;&nbsp;&nbsp;&nbsp;17773 |
| Super Retail Group, Ltd. | &nbsp;&nbsp;7649 | &nbsp;&nbsp;&nbsp;&nbsp;55516 |
| Superloop, Ltd. (A) | 22967 | &nbsp;&nbsp;&nbsp;&nbsp;11326 |
| Symbio Holdings, Ltd. | &nbsp;&nbsp;2522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672 |
| Syrah Resources, Ltd. (A) | 49135 | &nbsp;&nbsp;&nbsp;&nbsp;68545 |
| Tabcorp Holdings, Ltd. | 93926 | &nbsp;&nbsp;&nbsp;&nbsp;68393 |
| Technology One, Ltd. | &nbsp;&nbsp;9574 | &nbsp;&nbsp;&nbsp;&nbsp;85044 |
| Temple & Webster Group, Ltd. (A) | &nbsp;&nbsp;4468 | &nbsp;&nbsp;&nbsp;&nbsp;14003 |
| Ten Sixty Four, Ltd. | &nbsp;&nbsp;8127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3565 |
| Terracom, Ltd. | 32978 | &nbsp;&nbsp;&nbsp;&nbsp;20833 |
| The Reject Shop, Ltd. (A) | &nbsp;&nbsp;2561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7363 |
| The Star Entertainment Group, Ltd. (A) | 42180 | &nbsp;&nbsp;&nbsp;&nbsp;50606 |
| Tyro Payments, Ltd. (A) | 10423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9906 |
| United Malt Grp, Ltd. | 15585 | &nbsp;&nbsp;&nbsp;&nbsp;36794 |
| Viva Energy Group, Ltd. (C) | 18414 | &nbsp;&nbsp;&nbsp;&nbsp;34086 |
| Vulcan Energy Resources, Ltd. (A) | &nbsp;&nbsp;3349 | &nbsp;&nbsp;&nbsp;&nbsp;14369 |
| Webjet, Ltd. (A) | 16369 | &nbsp;&nbsp;&nbsp;&nbsp;68131 |
| West African Resources, Ltd. (A) | 42178 | &nbsp;&nbsp;&nbsp;&nbsp;34120 |
| Westgold Resources, Ltd. (A) | 18696 | &nbsp;&nbsp;&nbsp;&nbsp;11156 |
| Whitehaven Coal, Ltd. | 24362 | &nbsp;&nbsp;&nbsp;&nbsp;155209 |
| Zip Company, Ltd. (A) | 18285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312 |
|  |  | 6251398 |
| **Austria - 1.5%** |  |  |
| Addiko Bank AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9039 |
| Agrana Beteiligungs AG | &nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;11576 |
| ams AG (A) | 11874 | &nbsp;&nbsp;&nbsp;&nbsp;86996 |
| ANDRITZ AG | &nbsp;&nbsp;3278 | &nbsp;&nbsp;&nbsp;&nbsp;187639 |
| AT&S Austria Technologie & Systemtechnik AG | &nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;40748 |
| BAWAG Group AG (A)(C) | &nbsp;&nbsp;4044 | &nbsp;&nbsp;&nbsp;&nbsp;215505 |
| CA Immobilien Anlagen AG | &nbsp;&nbsp;1426 | &nbsp;&nbsp;&nbsp;&nbsp;43055 |
| DO & Company AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;26351 |
| EVN AG | &nbsp;&nbsp;2014 | &nbsp;&nbsp;&nbsp;&nbsp;36419 |
| Fabasoft AG | &nbsp;&nbsp;&nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;&nbsp;13136 |
| FACC AG (A) | &nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6793 |
| Flughafen Wien AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361 |
| IMMOFINANZ AG (A)(B) | &nbsp;&nbsp;4356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Kapsch TrafficCom AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315 |
| Kontron AG | &nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;&nbsp;37784 |
| Lenzing AG | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;22888 |
| Mayr Melnhof Karton AG | &nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;&nbsp;61066 |
| Oesterreichische Post AG | &nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;43382 |
| Palfinger AG | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;22188 |
| POLYTEC Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4901 |
| Porr AG | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;10985 |
| Raiffeisen Bank International AG (A) | &nbsp;&nbsp;6265 | &nbsp;&nbsp;&nbsp;&nbsp;102158 |
| RHI Magnesita NV | &nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp;30599 |
| RHI Magnesita NV (London Stock Exchange) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;14678 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Austria (continued)** |  |  |
| Rosenbauer International AG | &nbsp;&nbsp;&nbsp;&nbsp;174 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5597 |
| Schoeller-Bleckmann Oilfield Equipment AG | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;44520 |
| Semperit AG Holding | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;17414 |
| Strabag SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;37389 |
| Telekom Austria AG (A) | &nbsp;&nbsp;4436 | &nbsp;&nbsp;&nbsp;&nbsp;27410 |
| UBM Development AG | &nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996 |
| UNIQA Insurance Group AG | &nbsp;&nbsp;3329 | &nbsp;&nbsp;&nbsp;&nbsp;24884 |
| Vienna Insurance Group AG | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;27650 |
| voestalpine AG | &nbsp;&nbsp;4895 | &nbsp;&nbsp;&nbsp;&nbsp;129664 |
| Wienerberger AG | &nbsp;&nbsp;4676 | &nbsp;&nbsp;&nbsp;&nbsp;112710 |
| Zumtobel Group AG | &nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp;18476 |
|  |  | 1495272 |
| **Belgium - 1.5%** |  |  |
| Ackermans & van Haaren NV | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;168543 |
| AGFA-Gevaert NV (A) | &nbsp;&nbsp;6780 | &nbsp;&nbsp;&nbsp;&nbsp;19381 |
| Atenor | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;10928 |
| Barco NV | &nbsp;&nbsp;3257 | &nbsp;&nbsp;&nbsp;&nbsp;80688 |
| Bekaert SA | &nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;53981 |
| Biocartis Group NV (A)(C) | &nbsp;&nbsp;4063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295 |
| bpost SA | &nbsp;&nbsp;4236 | &nbsp;&nbsp;&nbsp;&nbsp;21778 |
| Cie d'Entreprises CFE (A) | &nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4245 |
| Deceuninck NV | &nbsp;&nbsp;2515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 |
| Deme Group NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;55247 |
| Econocom Group SA/NV | &nbsp;&nbsp;6435 | &nbsp;&nbsp;&nbsp;&nbsp;19630 |
| Etablissements Franz Colruyt NV | &nbsp;&nbsp;2147 | &nbsp;&nbsp;&nbsp;&nbsp;49035 |
| Euronav NV (A) | &nbsp;&nbsp;8334 | &nbsp;&nbsp;&nbsp;&nbsp;140199 |
| Euronav NV (New York Stock Exchange) (A) | &nbsp;&nbsp;2324 | &nbsp;&nbsp;&nbsp;&nbsp;39601 |
| EVS Broadcast Equipment SA | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;19355 |
| Exmar NV | &nbsp;&nbsp;1567 | &nbsp;&nbsp;&nbsp;&nbsp;13286 |
| Fagron | &nbsp;&nbsp;2712 | &nbsp;&nbsp;&nbsp;&nbsp;38585 |
| Galapagos NV (A) | &nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;69501 |
| Gimv NV | &nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;49318 |
| Immobel SA | &nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;10044 |
| Ion Beam Applications | &nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;21706 |
| Kinepolis Group NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;24368 |
| Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;142210 |
| Melexis NV | &nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp;65545 |
| Ontex Group NV (A) | &nbsp;&nbsp;3927 | &nbsp;&nbsp;&nbsp;&nbsp;26288 |
| Orange Belgium SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7687 |
| Picanol | &nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7479 |
| Proximus SADP | &nbsp;&nbsp;6084 | &nbsp;&nbsp;&nbsp;&nbsp;58740 |
| Recticel SA | &nbsp;&nbsp;2296 | &nbsp;&nbsp;&nbsp;&nbsp;38242 |
| Sipef NV | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;26515 |
| Telenet Group Holding NV | &nbsp;&nbsp;1717 | &nbsp;&nbsp;&nbsp;&nbsp;28046 |
| Tessenderlo Group SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;904 | &nbsp;&nbsp;&nbsp;&nbsp;32258 |
| Van de Velde NV | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;12171 |
| VGP NV | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;38657 |
| Viohalco SA | &nbsp;&nbsp;7173 | &nbsp;&nbsp;&nbsp;&nbsp;30911 |
| X-Fab Silicon Foundries SE (A)(C) | &nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp;24724 |
|  |  | 1457787 |
| **Bermuda - 0.2%** |  |  |
| Hafnia, Ltd. | &nbsp;&nbsp;4237 | &nbsp;&nbsp;&nbsp;&nbsp;21790 |
| Hiscox, Ltd. | 12537 | &nbsp;&nbsp;&nbsp;&nbsp;165294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;187084 |
| **Cambodia - 0.1%** |  |  |
| NagaCorp, Ltd. (A) | 52492 | &nbsp;&nbsp;&nbsp;&nbsp;46125 |
| **Canada - 11.4%** |  |  |
| 5N Plus, Inc. (A) | &nbsp;&nbsp;3515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7554 |
| Acadian Timber Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8842 |
| Advantage Energy, Ltd. (A) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;62947 |
| Aecon Group, Inc. | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;21530 |
| Africa Oil Corp. | 22402 | &nbsp;&nbsp;&nbsp;&nbsp;41197 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Ag Growth International, Inc. | &nbsp;&nbsp;1100 | $&nbsp;&nbsp;&nbsp;35218 |
| AGF Management, Ltd., Class B | &nbsp;&nbsp;4298 | &nbsp;&nbsp;&nbsp;22442 |
| Aimia, Inc. (A) | &nbsp;&nbsp;7777 | &nbsp;&nbsp;&nbsp;21194 |
| AirBoss of America Corp. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;8242 |
| Alamos Gold, Inc., Class A | 22405 | 226532 |
| Alaris Equity Partners Income | &nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;26406 |
| Algoma Central Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;9420 |
| Altius Minerals Corp. | &nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;50850 |
| Altus Group, Ltd. | &nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;92515 |
| Amerigo Resources, Ltd. | 13502 | &nbsp;&nbsp;&nbsp;13163 |
| Andlauer Healthcare Group, Inc. | &nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;42594 |
| Andrew Peller, Ltd., Class A | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;8476 |
| Aritzia, Inc. (A) | &nbsp;&nbsp;5745 | 200905 |
| Ascot Resources, Ltd. (A) | 13700 | &nbsp;&nbsp;&nbsp;&nbsp;5261 |
| Atco, Ltd., Class I | &nbsp;&nbsp;2918 | &nbsp;&nbsp;&nbsp;91333 |
| Athabasca Oil Corp. (A) | 35674 | &nbsp;&nbsp;&nbsp;63497 |
| ATS Corp. (A) | &nbsp;&nbsp;4247 | 132021 |
| AutoCanada, Inc. (A) | &nbsp;&nbsp;1985 | &nbsp;&nbsp;&nbsp;34173 |
| B2Gold Corp. | 37525 | 133305 |
| B2Gold Corp. (NYSE American Exchange) | &nbsp;&nbsp;5393 | &nbsp;&nbsp;&nbsp;19253 |
| Badger Infrastructure Solutions, Ltd. | &nbsp;&nbsp;1832 | &nbsp;&nbsp;&nbsp;36072 |
| Ballard Power Systems, Inc. (A) | &nbsp;&nbsp;9718 | &nbsp;&nbsp;&nbsp;46509 |
| Baytex Energy Corp. (A) | 19253 | &nbsp;&nbsp;&nbsp;86454 |
| Birch Mountain Resources, Ltd. (A)(B) | &nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Birchcliff Energy, Ltd. | 15733 | 109573 |
| Bird Construction, Inc. | &nbsp;&nbsp;4995 | &nbsp;&nbsp;&nbsp;29955 |
| Black Diamond Group, Ltd. | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;9810 |
| BlackBerry, Ltd. (A) | 17634 | &nbsp;&nbsp;&nbsp;57434 |
| BMTC Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;4321 |
| Bombardier, Inc., Class B (A) | &nbsp;&nbsp;3969 | 153220 |
| Boralex, Inc., Class A | &nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;96858 |
| Boyd Group Services, Inc. | &nbsp;&nbsp;1160 | 179192 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;42245 |
| Calian Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;29843 |
| Calibre Mining Corp. (A) | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;7644 |
| Canaccord Genuity Group, Inc. | &nbsp;&nbsp;5281 | &nbsp;&nbsp;&nbsp;32723 |
| Canacol Energy, Ltd. | &nbsp;&nbsp;7565 | &nbsp;&nbsp;&nbsp;10951 |
| Canada Goose Holdings, Inc. (A) | &nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;39357 |
| Canadian Western Bank | &nbsp;&nbsp;5015 | &nbsp;&nbsp;&nbsp;89114 |
| Canfor Corp. (A) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;37835 |
| Canfor Pulp Products, Inc. (A) | &nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp;8301 |
| Capital Power Corp. | &nbsp;&nbsp;6027 | 206227 |
| Capstone Copper Corp. (A) | 29467 | 107509 |
| Cardinal Energy, Ltd. | &nbsp;&nbsp;5530 | &nbsp;&nbsp;&nbsp;31122 |
| Cascades, Inc. | &nbsp;&nbsp;5723 | &nbsp;&nbsp;&nbsp;35758 |
| Celestica, Inc. (A) | &nbsp;&nbsp;3019 | &nbsp;&nbsp;&nbsp;34025 |
| Celestica, Inc. (New York Stock Exchange) (A) | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;36064 |
| Centerra Gold, Inc. | &nbsp;&nbsp;9077 | &nbsp;&nbsp;&nbsp;46994 |
| CES Energy Solutions Corp. | 18429 | &nbsp;&nbsp;&nbsp;37566 |
| China Gold International Resources Corp., Ltd. | 18050 | &nbsp;&nbsp;&nbsp;52124 |
| CI Financial Corp. | &nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;66852 |
| Cineplex, Inc. (A) | &nbsp;&nbsp;1227 | &nbsp;&nbsp;&nbsp;&nbsp;7295 |
| Cogeco Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;31930 |
| Cogeco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;20893 |
| Colliers International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;45931 |
| Computer Modelling Group, Ltd. | &nbsp;&nbsp;4420 | &nbsp;&nbsp;&nbsp;19031 |
| Copper Mountain Mining Corp. (A) | &nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;11114 |
| Corby Spirit and Wine, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;8463 |
| Corus Entertainment, Inc., B Shares | 11806 | &nbsp;&nbsp;&nbsp;18834 |
| Crescent Point Energy Corp. | 12719 | &nbsp;&nbsp;&nbsp;90743 |
| Crescent Point Energy Corp. (New York Stock Exchange) | 16800 | 120120 |
| Crew Energy, Inc. (A) | &nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;33680 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Cronos Group, Inc. (A) | &nbsp;&nbsp;5470 | $&nbsp;&nbsp;&nbsp;13897 |
| Cronos Group, Inc. (Nasdaq Exchange) (A) | &nbsp;&nbsp;7260 | &nbsp;&nbsp;&nbsp;18440 |
| Denison Mines Corp. (A) | 33624 | &nbsp;&nbsp;&nbsp;38491 |
| Dexterra Group, Inc. | &nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;&nbsp;6620 |
| Doman Building Materials Group, Ltd. | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;15288 |
| Dorel Industries, Inc., Class B | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;6913 |
| DREAM Unlimited Corp., Class A | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;25355 |
| Dundee Precious Metals, Inc. | &nbsp;&nbsp;7687 | &nbsp;&nbsp;&nbsp;36959 |
| ECN Capital Corp. | 16900 | &nbsp;&nbsp;&nbsp;34699 |
| E-L Financial Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;65140 |
| Eldorado Gold Corp. (A) | &nbsp;&nbsp;9374 | &nbsp;&nbsp;&nbsp;78163 |
| Element Fleet Management Corp. | 20269 | 276191 |
| Endeavour Silver Corp. (A) | &nbsp;&nbsp;6945 | &nbsp;&nbsp;&nbsp;22466 |
| Enerflex, Ltd. | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;40366 |
| Enerplus Corp. | &nbsp;&nbsp;8513 | 150266 |
| Enghouse Systems, Ltd. | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;71727 |
| Ensign Energy Services, Inc. (A) | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;24681 |
| EQB, Inc. | &nbsp;&nbsp;1392 | &nbsp;&nbsp;&nbsp;58322 |
| Equinox Gold Corp. (A) | 12552 | &nbsp;&nbsp;&nbsp;41067 |
| ERO Copper Corp. (A) | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;39923 |
| Evertz Technologies, Ltd. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;17920 |
| Exchange Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;22078 |
| Exco Technologies, Ltd. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;8530 |
| Extendicare, Inc. | &nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;30184 |
| Fiera Capital Corp. | &nbsp;&nbsp;5935 | &nbsp;&nbsp;&nbsp;38047 |
| Finning International, Inc. | &nbsp;&nbsp;7281 | 181003 |
| Firm Capital Mortgage Investment Corp. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;8685 |
| First Majestic Silver Corp. | &nbsp;&nbsp;9281 | &nbsp;&nbsp;&nbsp;77319 |
| First Majestic Silver Corp. (New York Stock Exchange) | &nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;13194 |
| First Mining Gold Corp. (A) | 39000 | &nbsp;&nbsp;&nbsp;&nbsp;5761 |
| First National Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;18829 |
| Fission Uranium Corp. (A) | 19500 | &nbsp;&nbsp;&nbsp;11521 |
| Fortuna Silver Mines, Inc. (A) | 14300 | &nbsp;&nbsp;&nbsp;53757 |
| Freehold Royalties, Ltd. | &nbsp;&nbsp;5429 | &nbsp;&nbsp;&nbsp;63472 |
| Frontera Energy Corp. (A) | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;19936 |
| Galiano Gold, Inc. (A) | &nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;3510 |
| Gamehost, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 |
| GDI Integrated Facility Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;10081 |
| Gibson Energy, Inc. | &nbsp;&nbsp;4798 | &nbsp;&nbsp;&nbsp;83770 |
| goeasy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;29246 |
| GoGold Resources, Inc. (A) | &nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;8494 |
| Gran Tierra Energy, Inc. (A) | 25166 | &nbsp;&nbsp;&nbsp;25092 |
| Guardian Capital Group, Ltd., Class A | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;31546 |
| Hanfeng Evergreen, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Headwater Exploration, Inc. | &nbsp;&nbsp;9290 | &nbsp;&nbsp;&nbsp;40618 |
| Heroux-Devtek, Inc. (A) | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;26212 |
| HEXO Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 |
| High Liner Foods, Inc. | &nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;18031 |
| HLS Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;5082 |
| Home Capital Group, Inc. | &nbsp;&nbsp;3379 | 106261 |
| Hudbay Minerals, Inc. | 10057 | &nbsp;&nbsp;&nbsp;50805 |
| IAMGOLD Corp. (A) | 24627 | &nbsp;&nbsp;&nbsp;63114 |
| Imperial Metals Corp. (A) | &nbsp;&nbsp;5060 | &nbsp;&nbsp;&nbsp;&nbsp;6764 |
| Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;14281 |
| Innergex Renewable Energy, Inc. | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;95716 |
| Interfor Corp. (A) | &nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;54594 |
| International Petroleum Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;3833 |
| International Petroleum Corp. (Nasdaq Stockholm Exchange) (A) | &nbsp;&nbsp;3496 | &nbsp;&nbsp;&nbsp;39273 |
| International Tower Hill Mines, Ltd. (A) | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 |
| Jamieson Wellness, Inc. (C) | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;57015 |
| K92 Mining, Inc. (A) | &nbsp;&nbsp;1930 | &nbsp;&nbsp;&nbsp;10933 |
| KAB Distribution, Inc. (A)(B) | &nbsp;&nbsp;7076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Karora Resources, Inc. (A) | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;16484 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| K-Bro Linen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | $&nbsp;&nbsp;&nbsp;12097 |
| Kelt Exploration, Ltd. (A) | 10445 | &nbsp;&nbsp;&nbsp;38648 |
| Keyera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;17614 |
| Kinaxis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;61258 |
| Knight Therapeutics, Inc. (A) | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;20659 |
| Labrador Iron Ore Royalty Corp. | &nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;57488 |
| Largo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;4228 |
| Lassonde Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;16437 |
| Laurentian Bank of Canada | &nbsp;&nbsp;1514 | &nbsp;&nbsp;&nbsp;36117 |
| Leon's Furniture, Ltd. | &nbsp;&nbsp;1883 | &nbsp;&nbsp;&nbsp;23906 |
| Lightspeed Commerce, Inc. (A) | &nbsp;&nbsp;5593 | &nbsp;&nbsp;&nbsp;79930 |
| Linamar Corp. | &nbsp;&nbsp;2366 | 107117 |
| Logistec Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;21439 |
| Lucara Diamond Corp. (A) | 25184 | &nbsp;&nbsp;&nbsp;&nbsp;9300 |
| Lundin Gold, Inc. | &nbsp;&nbsp;4258 | &nbsp;&nbsp;&nbsp;41605 |
| MAG Silver Corp. (A) | &nbsp;&nbsp;2268 | &nbsp;&nbsp;&nbsp;35427 |
| Magellan Aerospace Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;6647 |
| Mainstreet Equity Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;34860 |
| Major Drilling Group International, Inc. (A) | &nbsp;&nbsp;4513 | &nbsp;&nbsp;&nbsp;35064 |
| Manitok Energy, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Maple Leaf Foods, Inc. | &nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp;74758 |
| Martinrea International, Inc. | &nbsp;&nbsp;4603 | &nbsp;&nbsp;&nbsp;38279 |
| Maverix Metals, Inc. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;10736 |
| MDA, Ltd. (A) | &nbsp;&nbsp;1987 | &nbsp;&nbsp;&nbsp;&nbsp;9392 |
| Medical Facilities Corp. | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;12493 |
| MEG Energy Corp. (A) | 10188 | 141834 |
| Melcor Developments, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;7866 |
| Methanex Corp. | &nbsp;&nbsp;3089 | 116944 |
| Morguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;33223 |
| Mountain Province Diamonds, Inc. (A) | &nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;2612 |
| MTY Food Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;31275 |
| Mullen Group, Ltd. | &nbsp;&nbsp;5582 | &nbsp;&nbsp;&nbsp;59984 |
| New Gold, Inc. (A) | 34515 | &nbsp;&nbsp;&nbsp;33903 |
| NFI Group, Inc. | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;20812 |
| North American Construction Group, Ltd. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;28041 |
| NuVista Energy, Ltd. (A) | &nbsp;&nbsp;9305 | &nbsp;&nbsp;&nbsp;85765 |
| Onex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;27437 |
| Organigram Holdings, Inc. (A) | &nbsp;&nbsp;8928 | &nbsp;&nbsp;&nbsp;&nbsp;7253 |
| Orla Mining, Ltd. (A) | 11140 | &nbsp;&nbsp;&nbsp;45087 |
| Osisko Gold Royalties, Ltd. | &nbsp;&nbsp;9500 | 114505 |
| Osisko Mining, Inc. (A) | 12850 | &nbsp;&nbsp;&nbsp;33216 |
| Pan American Silver Corp. | &nbsp;&nbsp;7524 | 122807 |
| Paramount Resources, Ltd., Class A | &nbsp;&nbsp;5173 | 109420 |
| Parex Resources, Inc. | &nbsp;&nbsp;5516 | &nbsp;&nbsp;&nbsp;82088 |
| Park Lawn Corp. | &nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;34212 |
| Parkland Corp. | &nbsp;&nbsp;6819 | 149625 |
| Pason Systems, Inc. | &nbsp;&nbsp;3936 | &nbsp;&nbsp;&nbsp;46337 |
| Peyto Exploration & Development Corp. | &nbsp;&nbsp;5797 | &nbsp;&nbsp;&nbsp;59383 |
| PHX Energy Services Corp. | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;14920 |
| Pine Cliff Energy, Ltd. | 11000 | &nbsp;&nbsp;&nbsp;13730 |
| Pizza Pizza Royalty Corp. | &nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;17418 |
| Polaris Renewable Energy, Inc. | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;15587 |
| Pollard Banknote, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;14121 |
| PolyMet Mining Corp. (A) | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;3168 |
| PrairieSky Royalty, Ltd. | 11227 | 179931 |
| Precision Drilling Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;59898 |
| Premium Brands Holdings Corp. | &nbsp;&nbsp;2000 | 121536 |
| Quarterhill, Inc. | &nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;11436 |
| Questerre Energy Corp., Class A (A) | 19444 | &nbsp;&nbsp;&nbsp;&nbsp;2872 |
| Real Matters, Inc. (A) | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;10805 |
| RF Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;1571 |
| Richelieu Hardware, Ltd. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;53486 |
| Rogers Sugar, Inc. | &nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;27206 |
| Russel Metals, Inc. | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;58368 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Canada (continued)** |  |  |
| Sabina Gold & Silver Corp. (A) | 20475 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20112 |
| Sandstorm Gold, Ltd. | &nbsp;&nbsp;9531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50119 |
| Savaria Corp. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23764 |
| Seabridge Gold, Inc. (A) | &nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35532 |
| Secure Energy Services, Inc. | 13477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69973 |
| ShawCor, Ltd. (A) | &nbsp;&nbsp;4173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42346 |
| Sienna Senior Living, Inc. | &nbsp;&nbsp;3606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29029 |
| Sierra Wireless, Inc. (A) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75312 |
| SilverCrest Metals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 |
| Sleep Country Canada Holdings, Inc. (C) | &nbsp;&nbsp;2113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35862 |
| SNC-Lavalin Group, Inc. | &nbsp;&nbsp;6643 | &nbsp;&nbsp;&nbsp;&nbsp;117062 |
| Spin Master Corp. (C) | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34452 |
| Sprott, Inc. | &nbsp;&nbsp;1329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44208 |
| Stantec, Inc. | &nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52134 |
| Stelco Holdings, Inc. | &nbsp;&nbsp;2075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67874 |
| Stella-Jones, Inc. | &nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;100337 |
| Superior Plus Corp. | &nbsp;&nbsp;7557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62677 |
| Surge Energy, Inc. | &nbsp;&nbsp;2103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14149 |
| Tamarack Valley Energy, Ltd. | 20085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66159 |
| Taseko Mines, Ltd. (A) | 16100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23544 |
| Tecsys, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11933 |
| TELUS Corp. | &nbsp;&nbsp;1384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26709 |
| TerraVest Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12226 |
| The North West Company, Inc. | &nbsp;&nbsp;3606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94731 |
| Tidewater Midstream and Infrastructure, Ltd. | &nbsp;&nbsp;6650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960 |
| Timbercreek Financial Corp. | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31507 |
| TLC Vision Corp. (A)(B) | &nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Torex Gold Resources, Inc. (A) | &nbsp;&nbsp;5460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62705 |
| Total Energy Services, Inc. | &nbsp;&nbsp;3132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19916 |
| TransAlta Corp. | &nbsp;&nbsp;9482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84806 |
| TransAlta Renewables, Inc. | &nbsp;&nbsp;6098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50667 |
| Transcontinental, Inc., Class A | &nbsp;&nbsp;4783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53977 |
| Trevali Mining Corp. (A)(B) | &nbsp;&nbsp;3713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 |
| Trican Well Service, Ltd. (A) | 22209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60033 |
| Tricon Residential, Inc. | &nbsp;&nbsp;9919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76480 |
| Trisura Group, Ltd. (A) | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83623 |
| Uni-Select, Inc. (A) | &nbsp;&nbsp;3401 | &nbsp;&nbsp;&nbsp;&nbsp;107606 |
| Vecima Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6860 |
| Vermilion Energy, Inc. | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;113300 |
| Wajax Corp. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18943 |
| Wesdome Gold Mines, Ltd. (A) | &nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43090 |
| Western Copper & Gold Corp. (A) | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9612 |
| Western Forest Products, Inc. | 25850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22146 |
| Westshore Terminals Investment Corp. | &nbsp;&nbsp;2189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36262 |
| Whitecap Resources, Inc. | 14080 | &nbsp;&nbsp;&nbsp;&nbsp;111683 |
| WildBrain, Ltd. (A) | 10382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23923 |
| Winpak, Ltd. | &nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36562 |
| Yamana Gold, Inc. | 45750 | &nbsp;&nbsp;&nbsp;&nbsp;254092 |
| Yellow Pages, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408 |
| Zenith Capital Corp. (A) | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 |
|  |  | 11217266 |
| **China - 0.0%** |  |  |
| AustAsia Group, Ltd. (A) | &nbsp;&nbsp;4540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705 |
| Fosun Tourism Group (A)(C) | 11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16876 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20581 |
| **Denmark - 2.5%** |  |  |
| ALK-Abello A/S (A) | &nbsp;&nbsp;5254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73288 |
| Alm Brand A/S | 33083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53680 |
| Amagerbanken A/S (A)(B) | 25580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Asetek A/S (A) | &nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998 |
| Bang & Olufsen A/S (A) | &nbsp;&nbsp;7788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9228 |
| Bavarian Nordic A/S (A) | &nbsp;&nbsp;3556 | &nbsp;&nbsp;&nbsp;&nbsp;109562 |
| Better Collective A/S (A) | &nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24744 |
| Cadeler A/S (A) | &nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11595 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Denmark (continued)** |  |  |
| CBrain A/S | &nbsp;&nbsp;&nbsp;&nbsp;389 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8864 |
| Chemometec A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;79866 |
| Columbus A/S | &nbsp;&nbsp;6187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618 |
| D/S Norden A/S | &nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;107754 |
| Dfds A/S | &nbsp;&nbsp;1767 | &nbsp;&nbsp;&nbsp;&nbsp;64931 |
| FLSmidth & Company A/S | &nbsp;&nbsp;3054 | &nbsp;&nbsp;&nbsp;&nbsp;110707 |
| H Lundbeck A/S | 17205 | &nbsp;&nbsp;&nbsp;&nbsp;64428 |
| H+H International A/S, Class B (A) | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;17167 |
| ISS A/S (A) | &nbsp;&nbsp;7129 | &nbsp;&nbsp;&nbsp;&nbsp;150895 |
| Jeudan A/S | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;13152 |
| Jyske Bank A/S (A) | &nbsp;&nbsp;2263 | &nbsp;&nbsp;&nbsp;&nbsp;146737 |
| Lan & Spar Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;20910 |
| Matas A/S | &nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp;29134 |
| Netcompany Group A/S (A)(C) | &nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp;62680 |
| Nilfisk Holding A/S (A) | &nbsp;&nbsp;1220 | &nbsp;&nbsp;&nbsp;&nbsp;25536 |
| NKT A/S (A) | &nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;141021 |
| NNIT A/S (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 |
| NTG Nordic Transport Group A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;21837 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;33296 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;177812 |
| Royal Unibrew A/S | &nbsp;&nbsp;2134 | &nbsp;&nbsp;&nbsp;&nbsp;151664 |
| Scandinavian Tobacco Group A/S (C) | &nbsp;&nbsp;3178 | &nbsp;&nbsp;&nbsp;&nbsp;55859 |
| Schouw & Company A/S | &nbsp;&nbsp;&nbsp;&nbsp;666 | &nbsp;&nbsp;&nbsp;&nbsp;50142 |
| SimCorp A/S | &nbsp;&nbsp;1627 | &nbsp;&nbsp;&nbsp;&nbsp;111999 |
| Solar A/S, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;36716 |
| SP Group A/S | &nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp;13621 |
| Spar Nord Bank A/S | &nbsp;&nbsp;4967 | &nbsp;&nbsp;&nbsp;&nbsp;76061 |
| Sparekassen Sjaelland-Fyn A/S | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;28200 |
| Sydbank A/S | &nbsp;&nbsp;3132 | &nbsp;&nbsp;&nbsp;&nbsp;131752 |
| TCM Group A/S | &nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5311 |
| Tivoli A/S (A) | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;11141 |
| Topdanmark A/S | &nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp;105091 |
| UIE PLC | &nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp;&nbsp;32890 |
| Vestjysk Bank A/S (A) | 22473 | &nbsp;&nbsp;&nbsp;&nbsp;10257 |
| Zealand Pharma A/S (A) | &nbsp;&nbsp;1273 | &nbsp;&nbsp;&nbsp;&nbsp;36920 |
|  |  | 2428619 |
| **Finland - 2.2%** |  |  |
| Aktia Bank OYJ | &nbsp;&nbsp;3501 | &nbsp;&nbsp;&nbsp;&nbsp;38308 |
| Alma Media OYJ | &nbsp;&nbsp;1962 | &nbsp;&nbsp;&nbsp;&nbsp;19682 |
| Bittium OYJ | &nbsp;&nbsp;2708 | &nbsp;&nbsp;&nbsp;&nbsp;11545 |
| Cargotec OYJ, B Shares | &nbsp;&nbsp;2007 | &nbsp;&nbsp;&nbsp;&nbsp;89023 |
| Caverion OYJ | &nbsp;&nbsp;3325 | &nbsp;&nbsp;&nbsp;&nbsp;24643 |
| Citycon OYJ (A) | &nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp;27708 |
| Enento Group OYJ (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;19679 |
| EQ OYJ | &nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;13135 |
| Finnair OYJ (A) | 44891 | &nbsp;&nbsp;&nbsp;&nbsp;18659 |
| Fiskars OYJ ABP | &nbsp;&nbsp;2196 | &nbsp;&nbsp;&nbsp;&nbsp;36208 |
| F-Secure OYJ (A) | &nbsp;&nbsp;7159 | &nbsp;&nbsp;&nbsp;&nbsp;21714 |
| Harvia OYJ | &nbsp;&nbsp;&nbsp;&nbsp;846 | &nbsp;&nbsp;&nbsp;&nbsp;16047 |
| HKScan OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 |
| Huhtamaki OYJ | &nbsp;&nbsp;3864 | &nbsp;&nbsp;&nbsp;&nbsp;132368 |
| Kamux Corp. | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7852 |
| Kemira OYJ | &nbsp;&nbsp;4940 | &nbsp;&nbsp;&nbsp;&nbsp;75803 |
| Kojamo OYJ | &nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;60516 |
| Konecranes OYJ | &nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp;62490 |
| Lassila & Tikanoja OYJ | &nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp;21982 |
| Marimekko OYJ | &nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp;18031 |
| Metsa Board OYJ, B Shares | &nbsp;&nbsp;7990 | &nbsp;&nbsp;&nbsp;&nbsp;75063 |
| Musti Group OYJ (A) | &nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;20430 |
| Nokian Renkaat OYJ | &nbsp;&nbsp;4287 | &nbsp;&nbsp;&nbsp;&nbsp;43995 |
| Olvi OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;25629 |
| Oma Saastopankki OYJ | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9780 |
| Oriola OYJ, B Shares | &nbsp;&nbsp;9290 | &nbsp;&nbsp;&nbsp;&nbsp;17322 |
| Orion OYJ, Class A | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;53749 |
| Orion OYJ, Class B | &nbsp;&nbsp;4918 | &nbsp;&nbsp;&nbsp;&nbsp;269619 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Finland (continued)** |  |  |
| Outokumpu OYJ | 16239 | $&nbsp;&nbsp;&nbsp;&nbsp;82417 |
| Pihlajalinna OYJ | &nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;10875 |
| Ponsse OYJ | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;14725 |
| QT Group OYJ (A) | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;36868 |
| Raisio OYJ, V Shares | &nbsp;&nbsp;8267 | &nbsp;&nbsp;&nbsp;&nbsp;22015 |
| Rapala VMC OYJ | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4866 |
| Revenio Group OYJ | &nbsp;&nbsp;1101 | &nbsp;&nbsp;&nbsp;&nbsp;45525 |
| Rovio Entertainment OYJ (C) | &nbsp;&nbsp;1642 | &nbsp;&nbsp;&nbsp;&nbsp;10696 |
| Sanoma OYJ | &nbsp;&nbsp;2692 | &nbsp;&nbsp;&nbsp;&nbsp;28324 |
| Taaleri OYJ | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;11439 |
| Talenom OYJ | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6203 |
| Terveystalo OYJ (C) | &nbsp;&nbsp;4887 | &nbsp;&nbsp;&nbsp;&nbsp;32743 |
| TietoEVRY OYJ | &nbsp;&nbsp;4031 | &nbsp;&nbsp;&nbsp;&nbsp;114641 |
| Tokmanni Group Corp. | &nbsp;&nbsp;2438 | &nbsp;&nbsp;&nbsp;&nbsp;29482 |
| Uponor OYJ | &nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;44993 |
| Vaisala OYJ, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;40117 |
| Valmet OYJ | &nbsp;&nbsp;6257 | &nbsp;&nbsp;&nbsp;&nbsp;168905 |
| Verkkokauppa.com OYJ | &nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180 |
| Wartsila OYJ ABP | 18553 | &nbsp;&nbsp;&nbsp;&nbsp;156439 |
| WithSecure OYJ (A) | &nbsp;&nbsp;7159 | &nbsp;&nbsp;&nbsp;&nbsp;10527 |
| YIT OYJ | &nbsp;&nbsp;8449 | &nbsp;&nbsp;&nbsp;&nbsp;22280 |
|  |  | 2128534 |
| **France - 4.7%** |  |  |
| ABC arbitrage | &nbsp;&nbsp;2570 | &nbsp;&nbsp;&nbsp;&nbsp;17742 |
| AKWEL | &nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;13439 |
| ALD SA (C) | &nbsp;&nbsp;7805 | &nbsp;&nbsp;&nbsp;&nbsp;90053 |
| Altamir | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;20764 |
| Alten SA | &nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;166007 |
| Assystem SA | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;33167 |
| Aubay | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp;20808 |
| Axway Software SA | &nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9450 |
| Bastide le Confort Medical | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;10093 |
| Beneteau SA | &nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;43041 |
| Bigben Interactive | &nbsp;&nbsp;1198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175 |
| Boiron SA | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;14883 |
| Bonduelle SCA | &nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp;14715 |
| Burelle SA | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7595 |
| Casino Guichard Perrachon SA (A) | &nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp;22715 |
| Catana Group | &nbsp;&nbsp;1588 | &nbsp;&nbsp;&nbsp;&nbsp;10016 |
| Cegedim SA | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7713 |
| CGG SA (A) | 42425 | &nbsp;&nbsp;&nbsp;&nbsp;27491 |
| Chargeurs SA | &nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;22468 |
| Cie des Alpes | &nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;15359 |
| Cie Plastic Omnium SA | &nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;33106 |
| Claranova SE (A) | &nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3685 |
| Coface SA | &nbsp;&nbsp;6169 | &nbsp;&nbsp;&nbsp;&nbsp;80093 |
| DBV Technologies SA (A) | &nbsp;&nbsp;1786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5996 |
| Derichebourg SA | &nbsp;&nbsp;6625 | &nbsp;&nbsp;&nbsp;&nbsp;39219 |
| Ekinops SAS (A) | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;11715 |
| Electricite de Strasbourg SA | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314 |
| Elior Group SA (A)(C) | &nbsp;&nbsp;8308 | &nbsp;&nbsp;&nbsp;&nbsp;29426 |
| Elis SA | &nbsp;&nbsp;8325 | &nbsp;&nbsp;&nbsp;&nbsp;122886 |
| Equasens | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;23180 |
| Eramet SA | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;50841 |
| Etablissements Maurel et Prom SA | &nbsp;&nbsp;6372 | &nbsp;&nbsp;&nbsp;&nbsp;27529 |
| Eurazeo SE | &nbsp;&nbsp;1837 | &nbsp;&nbsp;&nbsp;&nbsp;114367 |
| Eutelsat Communications SA | &nbsp;&nbsp;6192 | &nbsp;&nbsp;&nbsp;&nbsp;46154 |
| Exel Industries, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5179 |
| Faurecia SE (A) | &nbsp;&nbsp;7066 | &nbsp;&nbsp;&nbsp;&nbsp;106946 |
| Fnac Darty SA | &nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp;38848 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;118841 |
| Genfit (A) | &nbsp;&nbsp;2919 | &nbsp;&nbsp;&nbsp;&nbsp;12392 |
| Groupe Crit | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;10649 |
| Guerbet | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5922 |
| Haulotte Group SA | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3568 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **France (continued)** |  |  |
| ID Logistics Group (A) | &nbsp;&nbsp;&nbsp;&nbsp;176 | $&nbsp;&nbsp;&nbsp;50490 |
| Imerys SA | &nbsp;&nbsp;1845 | &nbsp;&nbsp;&nbsp;71879 |
| Infotel SA | &nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;20552 |
| Interparfums SA | &nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;46915 |
| IPSOS | &nbsp;&nbsp;2460 | 154066 |
| Jacquet Metals SACA | &nbsp;&nbsp;1024 | &nbsp;&nbsp;&nbsp;18356 |
| JCDecaux SE (A) | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;34859 |
| Kaufman & Broad SA | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;26480 |
| Korian SA | &nbsp;&nbsp;3776 | &nbsp;&nbsp;&nbsp;40966 |
| Laurent-Perrier | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;15765 |
| Lectra | &nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;49767 |
| LISI | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;25114 |
| LNA Sante SA | &nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;5261 |
| Lumibird (A) | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;11217 |
| Maisons du Monde SA (C) | &nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;24197 |
| Manitou BF SA | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;23360 |
| Manutan International | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;11575 |
| Mersen SA | &nbsp;&nbsp;1171 | &nbsp;&nbsp;&nbsp;47328 |
| Metropole Television SA | &nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;21757 |
| Nacon SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577 |
| Neoen SA (C) | &nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;58029 |
| Neurones | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;27694 |
| Nexans SA | &nbsp;&nbsp;&nbsp;&nbsp;991 | &nbsp;&nbsp;&nbsp;89694 |
| Nexity SA | &nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;55138 |
| NRJ Group | &nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;5675 |
| Orpea SA (A) | &nbsp;&nbsp;1358 | &nbsp;&nbsp;&nbsp;&nbsp;8995 |
| Pierre Et Vacances SA (A) | 10785 | &nbsp;&nbsp;&nbsp;12529 |
| Plastivaloire | &nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp;1361 |
| Quadient SA | &nbsp;&nbsp;2171 | &nbsp;&nbsp;&nbsp;32044 |
| Recylex SA (A)(B) | &nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;2093 |
| Rexel SA (A) | 10217 | 202076 |
| Rothschild & Company | &nbsp;&nbsp;1588 | &nbsp;&nbsp;&nbsp;63433 |
| Rubis SCA | &nbsp;&nbsp;3866 | 101800 |
| Samse SA | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;9638 |
| Savencia SA | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;23272 |
| SCOR SE | &nbsp;&nbsp;6613 | 152371 |
| SEB SA | &nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;62171 |
| Seche Environnement SA | &nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;12121 |
| SMCP SA (A)(C) | &nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;13367 |
| Societe BIC SA | &nbsp;&nbsp;1252 | &nbsp;&nbsp;&nbsp;85703 |
| Societe LDC SA | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;24397 |
| Societe pour l'Informatique Industrielle | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;21294 |
| SOITEC (A) | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;59417 |
| Solocal Group (A) | &nbsp;&nbsp;6121 | &nbsp;&nbsp;&nbsp;&nbsp;3995 |
| Somfy SA | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;49815 |
| Sopra Steria Group SACA | &nbsp;&nbsp;&nbsp;&nbsp;690 | 104468 |
| SPIE SA | &nbsp;&nbsp;6716 | 175116 |
| Stef SA | &nbsp;&nbsp;&nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;19585 |
| Synergie SE | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;17870 |
| Technicolor Creative Studios SA (A) | &nbsp;&nbsp;9713 | &nbsp;&nbsp;&nbsp;&nbsp;2307 |
| Technip Energies NV | &nbsp;&nbsp;6139 | &nbsp;&nbsp;&nbsp;96514 |
| Television Francaise 1 | &nbsp;&nbsp;3803 | &nbsp;&nbsp;&nbsp;29195 |
| Thermador Groupe | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;41798 |
| Tikehau Capital SCA | &nbsp;&nbsp;2057 | &nbsp;&nbsp;&nbsp;53328 |
| Trigano SA | &nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;63208 |
| Ubisoft Entertainment SA (A) | &nbsp;&nbsp;4551 | 128569 |
| Valeo | &nbsp;&nbsp;8798 | 157201 |
| Vallourec SA (A) | &nbsp;&nbsp;5161 | &nbsp;&nbsp;&nbsp;68009 |
| Vantiva SA (A) | &nbsp;&nbsp;9713 | &nbsp;&nbsp;&nbsp;&nbsp;2141 |
| Verallia SA (C) | &nbsp;&nbsp;3490 | 118275 |
| Vetoquinol SA | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;27876 |
| Vicat SA | &nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;30137 |
| VIEL & Cie SA | &nbsp;&nbsp;3220 | &nbsp;&nbsp;&nbsp;20360 |
| Vilmorin & Cie SA | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;30009 |
| Virbac SA | &nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;56656 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **France (continued)** |  |  |
| Voltalia SA (A) | 1403 | $&nbsp;&nbsp;&nbsp;&nbsp;25592 |
| Wavestone | &nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;15305 |
| Xilam Animation SA (A) | &nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7888 |
|  |  | 4639560 |
| **Gabon - 0.0%** |  |  |
| Totalenergies EP Gabon | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 |
| **Georgia - 0.1%** |  |  |
| Bank of Georgia Group PLC | 2491 | &nbsp;&nbsp;&nbsp;&nbsp;77909 |
| Georgia Capital PLC (A) | 1145 | &nbsp;&nbsp;&nbsp;&nbsp;10059 |
| TBC Bank Group PLC | 1781 | &nbsp;&nbsp;&nbsp;&nbsp;48923 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;136891 |
| **Germany - 5.5%** |  |  |
| 1&1 AG | 2192 | &nbsp;&nbsp;&nbsp;&nbsp;27116 |
| 7C Solarparken AG | 3282 | &nbsp;&nbsp;&nbsp;&nbsp;14938 |
| Aareal Bank AG (A) | 2902 | &nbsp;&nbsp;&nbsp;&nbsp;102484 |
| Adesso SE | &nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;29109 |
| AIXTRON SE | 3301 | &nbsp;&nbsp;&nbsp;&nbsp;94980 |
| All for One Group SE | &nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336 |
| Allgeier SE | &nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;15097 |
| Amadeus Fire AG | &nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;32583 |
| Atoss Software AG | &nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;32392 |
| Aurubis AG | 1823 | &nbsp;&nbsp;&nbsp;&nbsp;148394 |
| Auto1 Group SE (A)(C) | 3943 | &nbsp;&nbsp;&nbsp;&nbsp;32758 |
| Basler AG | &nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;15324 |
| BayWa AG | &nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp;30912 |
| Bechtle AG | 3835 | &nbsp;&nbsp;&nbsp;&nbsp;135560 |
| Bertrandt AG | &nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;16800 |
| Bijou Brigitte AG (A) | &nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;15436 |
| Bilfinger SE | 1781 | &nbsp;&nbsp;&nbsp;&nbsp;51307 |
| Borussia Dortmund GmbH & Company KGaA (A) | 4276 | &nbsp;&nbsp;&nbsp;&nbsp;16909 |
| CANCOM SE | 1316 | &nbsp;&nbsp;&nbsp;&nbsp;38491 |
| CECONOMY AG | 8144 | &nbsp;&nbsp;&nbsp;&nbsp;16131 |
| CENIT AG | &nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5806 |
| Cewe Stiftung & Company KGAA | &nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;25411 |
| CompuGroup Medical SE & Company KGaA | 1368 | &nbsp;&nbsp;&nbsp;&nbsp;52516 |
| CropEnergies AG | 1544 | &nbsp;&nbsp;&nbsp;&nbsp;21485 |
| CTS Eventim AG & Company KGaA (A) | 1807 | &nbsp;&nbsp;&nbsp;&nbsp;114706 |
| Dermapharm Holding SE | &nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp;34126 |
| Deutsche Beteiligungs AG | 1067 | &nbsp;&nbsp;&nbsp;&nbsp;31812 |
| Deutsche Pfandbriefbank AG (C) | 6014 | &nbsp;&nbsp;&nbsp;&nbsp;46592 |
| Deutz AG | 3432 | &nbsp;&nbsp;&nbsp;&nbsp;14770 |
| DIC Asset AG | 3005 | &nbsp;&nbsp;&nbsp;&nbsp;24554 |
| Dr. Hoenle AG | &nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8624 |
| Draegerwerk AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185 |
| Duerr AG | 2868 | &nbsp;&nbsp;&nbsp;&nbsp;96085 |
| Eckert & Ziegler Strahlen- und Medizintechnik AG | &nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp;39933 |
| Elmos Semiconductor SE | &nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;25934 |
| ElringKlinger AG | 2576 | &nbsp;&nbsp;&nbsp;&nbsp;19113 |
| Encavis AG | 5880 | &nbsp;&nbsp;&nbsp;&nbsp;116271 |
| Energiekontor AG | &nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;37256 |
| Evotec SE (A) | 2387 | &nbsp;&nbsp;&nbsp;&nbsp;38832 |
| Fielmann AG | 1241 | &nbsp;&nbsp;&nbsp;&nbsp;49095 |
| flatexDEGIRO AG (A) | 2072 | &nbsp;&nbsp;&nbsp;&nbsp;13973 |
| Fraport AG Frankfurt Airport Services Worldwide (A) | 2067 | &nbsp;&nbsp;&nbsp;&nbsp;83708 |
| Freenet AG | 5773 | &nbsp;&nbsp;&nbsp;&nbsp;125529 |
| Fuchs Petrolub SE | 2106 | &nbsp;&nbsp;&nbsp;&nbsp;62484 |
| GEA Group AG | 1051 | &nbsp;&nbsp;&nbsp;&nbsp;42741 |
| Gerresheimer AG | 1378 | &nbsp;&nbsp;&nbsp;&nbsp;92182 |
| GFT Technologies SE | &nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;34919 |
| GK Software SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;10260 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Germany (continued)** |  |  |
| GRENKE AG | &nbsp;&nbsp;&nbsp;&nbsp;500 | $&nbsp;&nbsp;&nbsp;10443 |
| H&R GmbH & Company KGaA (A) | &nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp;8484 |
| Hamburger Hafen und Logistik AG | &nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;16878 |
| Heidelberger Druckmaschinen AG (A) | 18003 | &nbsp;&nbsp;&nbsp;28211 |
| Hensoldt AG | &nbsp;&nbsp;1681 | &nbsp;&nbsp;&nbsp;39823 |
| HOCHTIEF AG | &nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;62344 |
| Hornbach Holding AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;41090 |
| HUGO BOSS AG | &nbsp;&nbsp;2702 | 156202 |
| Hypoport SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;15465 |
| Indus Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;22857 |
| Instone Real Estate Group SE (C) | &nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;19789 |
| IVU Traffic Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;11418 |
| Jenoptik AG | &nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;81323 |
| JOST Werke AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;29063 |
| K+S AG | &nbsp;&nbsp;7752 | 152822 |
| Kloeckner & Company SE | &nbsp;&nbsp;2892 | &nbsp;&nbsp;&nbsp;28395 |
| Koenig & Bauer AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;15853 |
| Krones AG | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;86601 |
| KWS Saat SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;37989 |
| LANXESS AG | &nbsp;&nbsp;3805 | 152682 |
| LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;23544 |
| Leifheit AG | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;6333 |
| Leoni AG (A) | &nbsp;&nbsp;2398 | &nbsp;&nbsp;&nbsp;14045 |
| Manz AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;5226 |
| Medigene AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;1636 |
| Medios AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;15760 |
| METRO AG (A) | &nbsp;&nbsp;6195 | &nbsp;&nbsp;&nbsp;60088 |
| MLP SE | &nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;32314 |
| Nagarro SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;46636 |
| New Work SE | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;20934 |
| Nexus AG | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;51766 |
| Nordex SE (A) | &nbsp;&nbsp;7467 | 105090 |
| Norma Group SE | &nbsp;&nbsp;1576 | &nbsp;&nbsp;&nbsp;28476 |
| OHB SE | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;13790 |
| PATRIZIA SE | &nbsp;&nbsp;2719 | &nbsp;&nbsp;&nbsp;30049 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;46960 |
| PNE AG | &nbsp;&nbsp;3180 | &nbsp;&nbsp;&nbsp;72547 |
| ProSiebenSat.1 Media SE | &nbsp;&nbsp;7531 | &nbsp;&nbsp;&nbsp;66799 |
| PSI Software AG | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;19544 |
| PVA TePla AG (A) | &nbsp;&nbsp;1420 | &nbsp;&nbsp;&nbsp;28090 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;10095 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;30259 |
| SAF-Holland SE | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;10858 |
| Salzgitter AG | &nbsp;&nbsp;1529 | &nbsp;&nbsp;&nbsp;46452 |
| Scout24 SE (C) | &nbsp;&nbsp;2783 | 140078 |
| Secunet Security Networks AG | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;29538 |
| SGL Carbon SE (A) | &nbsp;&nbsp;3072 | &nbsp;&nbsp;&nbsp;22680 |
| Siltronic AG | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;71358 |
| Sirius Real Estate, Ltd. | 53591 | &nbsp;&nbsp;&nbsp;47829 |
| Sixt SE | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;43854 |
| SMA Solar Technology AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;40296 |
| Software AG | &nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;67477 |
| Stabilus SE | &nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;96479 |
| STRATEC SE | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;35257 |
| Stroeer SE & Company KGaA | &nbsp;&nbsp;1746 | &nbsp;&nbsp;&nbsp;81234 |
| Suedzucker AG | &nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;51643 |
| SUESS MicroTec SE | &nbsp;&nbsp;1803 | &nbsp;&nbsp;&nbsp;29189 |
| Synlab AG | &nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;21389 |
| TAG Immobilien AG | &nbsp;&nbsp;8916 | &nbsp;&nbsp;&nbsp;57866 |
| Takkt AG | &nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;26692 |
| TeamViewer AG (A)(C) | &nbsp;&nbsp;6009 | &nbsp;&nbsp;&nbsp;77080 |
| Technotrans SE | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;14406 |
| thyssenkrupp AG (A) | 18642 | 113204 |
| Traffic Systems SE | &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;9943 |
| United Internet AG | &nbsp;&nbsp;4315 | &nbsp;&nbsp;&nbsp;87010 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Germany (continued)** |  |  |
| va-Q-Tec AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;318 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8552 |
| Varta AG | &nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp;17746 |
| VERBIO Vereinigte BioEnergie AG | &nbsp;&nbsp;&nbsp;1482 | &nbsp;&nbsp;&nbsp;&nbsp;96081 |
| Vitesco Technologies Group AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;46892 |
| Vossloh AG | &nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp;35733 |
| Wacker Neuson SE | &nbsp;&nbsp;&nbsp;2039 | &nbsp;&nbsp;&nbsp;&nbsp;35525 |
| Washtec AG | &nbsp;&nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;22580 |
| Westwing Group SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3958 |
| Wuestenrot & Wuerttembergische AG | &nbsp;&nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;25838 |
|  |  | 5407389 |
| **Gibraltar - 0.0%** |  |  |
| 888 Holdings PLC (A) | &nbsp;&nbsp;15858 | &nbsp;&nbsp;&nbsp;&nbsp;16740 |
| **Greece - 0.0%** |  |  |
| Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products (A)(B) | &nbsp;&nbsp;&nbsp;3303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 |
| Okeanis Eco Tankers Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;12891 |
| TT Hellenic Postbank SA (A)(B) | &nbsp;&nbsp;12594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12956 |
| **Guernsey, Channel Islands - 0.0%** |  |  |
| Raven Property Group, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| **Hong Kong - 2.3%** |  |  |
| 3D-Gold Jewellery Holdings, Ltd. (A)(B) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Aidigong Maternal & Child Health, Ltd. (A) | 108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6013 |
| Allied Group, Ltd. | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;28175 |
| APAC Resources, Ltd. (A) | &nbsp;&nbsp;18475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697 |
| Apollo Future Mobility Group, Ltd. (A) | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 |
| Asia Financial Holdings, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6356 |
| ASMPT, Ltd. | &nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp;81675 |
| Associated International Hotels, Ltd. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;32256 |
| Brightoil Petroleum Holdings, Ltd. (A)(B) | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;12928 |
| Burwill Holdings, Ltd. (A)(B) | 292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197 |
| Cafe de Coral Holdings, Ltd. | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;34305 |
| Central Holding Group Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;11637 |
| Chen Hsong Holdings | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301 |
| Cheuk Nang Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 |
| China Energy Development Holdings, Ltd. (A) | 634000 | &nbsp;&nbsp;&nbsp;&nbsp;10163 |
| China Solar Energy Holdings, Ltd. (A)(B) | &nbsp;&nbsp;42500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Chinese Estates Holdings, Ltd. (A) | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7084 |
| Chow Sang Sang Holdings International, Ltd. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;29047 |
| Chuang's Consortium International, Ltd. | &nbsp;&nbsp;30948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2820 |
| CITIC Telecom International Holdings, Ltd. | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;20008 |
| CMBC Capital Holdings, Ltd. | &nbsp;&nbsp;10750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996 |
| C-MER Eye Care Holdings, Ltd. (A) | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;11246 |
| Cowell e Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;11089 |
| Crystal International Group, Ltd. (C) | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5895 |
| CSC Holdings, Ltd. (A) | 885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713 |
| CSI Properties, Ltd. | 245066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956 |
| Dah Sing Banking Group, Ltd. | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;12876 |
| Dah Sing Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6520 | &nbsp;&nbsp;&nbsp;&nbsp;15059 |
| Dynamic Holdings, Ltd. | &nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9110 |
| EC Healthcare | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;13339 |
| EganaGoldpfeil Holdings, Ltd. (A)(B) | 103373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Emperor Entertainment Hotel, Ltd. (A) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018 |
| Emperor International Holdings, Ltd. | &nbsp;&nbsp;97333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8199 |
| Esprit Holdings, Ltd. (A) | 176850 | &nbsp;&nbsp;&nbsp;&nbsp;18980 |
| Fairwood Holdings, Ltd. | &nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
| Far East Consortium International, Ltd. | &nbsp;&nbsp;96464 | &nbsp;&nbsp;&nbsp;&nbsp;23063 |
| First Pacific Company, Ltd. | 146000 | &nbsp;&nbsp;&nbsp;&nbsp;43488 |
| Giordano International, Ltd. | &nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;18131 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Gold-Finance Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;62000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| GR Properties, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;9866 |
| Great Eagle Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10516 | 23085 |
| G-Resources Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;33580 | &nbsp;&nbsp;&nbsp;9332 |
| Guotai Junan International Holdings, Ltd. | &nbsp;&nbsp;207000 | 19032 |
| Haitong International Securities Group, Ltd. (A) | &nbsp;&nbsp;125477 | 13942 |
| Hang Lung Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31000 | 56812 |
| Hanison Construction Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27441 | &nbsp;&nbsp;&nbsp;4077 |
| Harbour Centre Development, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38000 | 35079 |
| HKBN, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36000 | 23190 |
| HKR International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51920 | 16191 |
| Hong Kong Ferry Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29000 | 29522 |
| Hong Kong Technology Venture Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28000 | 19232 |
| Hongkong Chinese, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;4237 |
| Hsin Chong Group Holdings, Ltd. (A)(B) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;7623 |
| Hutchison Port Holdings Trust | &nbsp;&nbsp;161400 | 31230 |
| Hutchison Telecommunications Hong Kong Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;80000 | 12476 |
| Hysan Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | 80961 |
| Johnson Electric Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20883 | 26289 |
| K Wah International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;80000 | 27772 |
| Kerry Logistics Network, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;24000 | 43004 |
| Kerry Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28500 | 61829 |
| Kingston Financial Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;1382 |
| Kowloon Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22000 | 20802 |
| Lai Sun Development Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;22980 | &nbsp;&nbsp;&nbsp;4810 |
| Langham Hospitality Investments, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;3192 |
| Lippo China Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;493 |
| Liu Chong Hing Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16000 | 14840 |
| Luk Fook Holdings International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15000 | 44497 |
| Man Wah Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;61600 | 60954 |
| Mandarin Oriental International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8000 | 15369 |
| Mason Group Holdings, Ltd. (A) | 1548800 | &nbsp;&nbsp;&nbsp;5966 |
| Melco International Development, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;33000 | 35647 |
| MH Development, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;1070 |
| Midland Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;34734 | &nbsp;&nbsp;&nbsp;3493 |
| Miramar Hotel & Investment | &nbsp;&nbsp;&nbsp;&nbsp;15000 | 23380 |
| Modern Dental Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;6152 |
| NewOcean Energy Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;297 |
| Nissin Foods Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22000 | 18823 |
| NWS Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;64000 | 55244 |
| Oriental Watch Holdings | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;9393 |
| Oshidori International Holdings, Ltd. (A) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;7222 |
| Pacific Andes International Holdings, Ltd. (A)(B) | &nbsp;&nbsp;328006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Pacific Basin Shipping, Ltd. | &nbsp;&nbsp;239000 | 80515 |
| Pacific Century Premium Developments, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;113 |
| Pacific Textiles Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42000 | 13760 |
| Paliburg Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;46000 | 10918 |
| PC Partner Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;7580 |
| PCCW, Ltd. | &nbsp;&nbsp;156590 | 70549 |
| Peace Mark Holdings, Ltd. (A)(B) | &nbsp;&nbsp;164000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Perfect Medical Health Management, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32000 | 16725 |
| Pico Far East Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;9906 |
| Public Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;7391 |
| Realord Group Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;6811 |
| Regal Hotels International Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36000 | 14755 |
| Regina Miracle International Holdings, Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;7899 |
| Sa Sa International Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;48000 | 11152 |
| Shangri-La Asia, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;46000 | 37533 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hong Kong (continued)** |  |  |
| Shenwan Hongyuan HK, Ltd. (A) | &nbsp;&nbsp;20000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330 |
| Shin Hwa World, Ltd. (A) | &nbsp;&nbsp;75600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 |
| Shun Tak Holdings, Ltd. (A) | &nbsp;&nbsp;80250 | &nbsp;&nbsp;&nbsp;&nbsp;17212 |
| Singamas Container Holdings, Ltd. | 114000 | &nbsp;&nbsp;&nbsp;&nbsp;10660 |
| SJM Holdings, Ltd. (A) | 118750 | &nbsp;&nbsp;&nbsp;&nbsp;68550 |
| SmarTone Telecommunications Holdings, Ltd. | &nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;&nbsp;19001 |
| Solomon Systech International, Ltd. | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5688 |
| South China Holdings Company, Ltd. (A) | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3849 |
| Stella International Holdings, Ltd. | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;18807 |
| Sun Hung Kai & Company, Ltd. | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;16842 |
| SUNeVision Holdings, Ltd. | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;16723 |
| Tao Heung Holdings, Ltd. | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631 |
| Television Broadcasts, Ltd. (A) | &nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9015 |
| Texhong Textile Group, Ltd. | &nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8776 |
| Texwinca Holdings, Ltd. | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9572 |
| The Bank of East Asia, Ltd. | &nbsp;&nbsp;33715 | &nbsp;&nbsp;&nbsp;&nbsp;40758 |
| The Hongkong & Shanghai Hotels, Ltd. (A) | &nbsp;&nbsp;31903 | &nbsp;&nbsp;&nbsp;&nbsp;33149 |
| Town Health International Medical Group, Ltd. | 261361 | &nbsp;&nbsp;&nbsp;&nbsp;12659 |
| Tradelink Electronic Commerce, Ltd. | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5635 |
| Transport International Holdings, Ltd. | &nbsp;&nbsp;11721 | &nbsp;&nbsp;&nbsp;&nbsp;17060 |
| United Laboratories International Holdings, Ltd. | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;26220 |
| Upbest Group, Ltd. | 164000 | &nbsp;&nbsp;&nbsp;&nbsp;11481 |
| Value Partners Group, Ltd. | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;14690 |
| Vitasoy International Holdings, Ltd. | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;69886 |
| VSTECS Holdings, Ltd. | &nbsp;&nbsp;47200 | &nbsp;&nbsp;&nbsp;&nbsp;27134 |
| VTech Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;44373 |
| Wai Kee Holdings, Ltd. | &nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6384 |
| Wealthking Investments, Ltd. (A) | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1658 |
| Wing On Company International, Ltd. | &nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7210 |
| Wing Tai Properties, Ltd. | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;31310 |
| Yue Yuen Industrial Holdings, Ltd. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;41984 |
| Yunfeng Financial Group, Ltd. (A) | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3565 |
| Zensun Enterprises, Ltd. (A) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734 |
| Zhaobangji Properties Holdings, Ltd. (A) | &nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738 |
|  |  | 2298879 |
| **Ireland - 0.6%** |  |  |
| AIB Group PLC | &nbsp;&nbsp;10673 | &nbsp;&nbsp;&nbsp;&nbsp;40967 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;16106 | &nbsp;&nbsp;&nbsp;&nbsp;153479 |
| C&C Group PLC (A) | &nbsp;&nbsp;17690 | &nbsp;&nbsp;&nbsp;&nbsp;37550 |
| Cairn Homes PLC | &nbsp;&nbsp;24718 | &nbsp;&nbsp;&nbsp;&nbsp;22997 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp;49869 |
| Dalata Hotel Group PLC (A) | &nbsp;&nbsp;&nbsp;6155 | &nbsp;&nbsp;&nbsp;&nbsp;21325 |
| FBD Holdings PLC | &nbsp;&nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;22872 |
| Glanbia PLC | &nbsp;&nbsp;&nbsp;4784 | &nbsp;&nbsp;&nbsp;&nbsp;60591 |
| Glenveagh Properties PLC (A)(C) | &nbsp;&nbsp;24326 | &nbsp;&nbsp;&nbsp;&nbsp;22030 |
| Grafton Group PLC, CHESS Depositary Interest | &nbsp;&nbsp;&nbsp;9527 | &nbsp;&nbsp;&nbsp;&nbsp;90657 |
| Greencore Group PLC (A) | &nbsp;&nbsp;23830 | &nbsp;&nbsp;&nbsp;&nbsp;18474 |
| Hostelworld Group PLC (A)(C) | &nbsp;&nbsp;&nbsp;3065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242 |
| Irish Continental Group PLC | &nbsp;&nbsp;&nbsp;5309 | &nbsp;&nbsp;&nbsp;&nbsp;24158 |
| Permanent TSB Group Holdings PLC (A) | &nbsp;&nbsp;&nbsp;5786 | &nbsp;&nbsp;&nbsp;&nbsp;11180 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;580391 |
| **Isle of Man - 0.1%** |  |  |
| Hansard Global PLC | &nbsp;&nbsp;&nbsp;6816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164 |
| Playtech PLC (A) | &nbsp;&nbsp;11001 | &nbsp;&nbsp;&nbsp;&nbsp;67500 |
| Strix Group PLC | &nbsp;&nbsp;&nbsp;6042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;76627 |
| **Israel - 1.4%** |  |  |
| Adgar Investment and Development, Ltd. | &nbsp;&nbsp;&nbsp;4535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6731 |
| AFI Properties, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;17854 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Israel (continued)** |  |  |
| Africa Israel Residences, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;355 | $15756 |
| Airport City, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Allot, Ltd. (A) | &nbsp;&nbsp;2103 | &nbsp;&nbsp;&nbsp;7311 |
| Alrov Properties and Lodgings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;399 | 21145 |
| Arad, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;9843 |
| Ashtrom Group, Ltd. | &nbsp;&nbsp;1079 | 20246 |
| AudioCodes, Ltd. | &nbsp;&nbsp;1854 | 33168 |
| Aura Investments, Ltd. | 10003 | 15706 |
| Automatic Bank Services, Ltd. | &nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;4500 |
| Azorim-Investment Development & Construction Company, Ltd. | &nbsp;&nbsp;3848 | 12363 |
| Bet Shemesh Engines Holdings 1997, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;8028 |
| BioLine RX, Ltd. (A) | 48850 | &nbsp;&nbsp;&nbsp;1973 |
| Blue Square Real Estate, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;215 | 12695 |
| Carasso Motors, Ltd. | &nbsp;&nbsp;2020 | 11688 |
| Cellcom Israel, Ltd. (A) | &nbsp;&nbsp;4807 | 25209 |
| Clal Biotechnology Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Clal Insurance Enterprises Holdings, Ltd. (A) | &nbsp;&nbsp;1346 | 22648 |
| Danel Adir Yeoshua, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;253 | 19859 |
| Delek Automotive Systems, Ltd. | &nbsp;&nbsp;1858 | 21766 |
| Delek Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;236 | 25859 |
| Delta Galil, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;618 | 25865 |
| Dor Alon Energy in Israel 1988, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;420 | 11071 |
| Electra Consumer Products 1970, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;445 | 12848 |
| Electra Real Estate, Ltd. | &nbsp;&nbsp;1543 | 14849 |
| Equital, Ltd. (A) | &nbsp;&nbsp;1096 | 32649 |
| Formula Systems 1985, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;549 | 39684 |
| Fox Wizel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;228 | 20759 |
| Gav-Yam Lands Corp., Ltd. | &nbsp;&nbsp;3034 | 23709 |
| Gilat Satellite Networks, Ltd. (A) | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;8028 |
| Hamat Group, Ltd. (A) | &nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;8218 |
| Harel Insurance Investments & Financial Services, Ltd. | &nbsp;&nbsp;2810 | 24687 |
| Hilan, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;803 | 39812 |
| IDI Insurance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;9503 |
| IES Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;8199 |
| Ilex Medical, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;5765 |
| Infinya, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;244 | 23947 |
| Inrom Construction Industries, Ltd. | &nbsp;&nbsp;4264 | 16133 |
| Isracard, Ltd. | &nbsp;&nbsp;6691 | 19488 |
| Israel Canada T.R, Ltd. | &nbsp;&nbsp;6076 | 13178 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Israel Land Development Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;8675 |
| Isras Investment Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;142 | 27085 |
| Issta, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;6000 |
| Kamada, Ltd. (A) | &nbsp;&nbsp;1616 | &nbsp;&nbsp;&nbsp;6305 |
| Kerur Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;9283 |
| Levinstein Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;5720 |
| M Yochananof & Sons, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;8301 |
| Magic Software Enterprises, Ltd. | &nbsp;&nbsp;1349 | 21511 |
| Malam - Team, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;476 | 10189 |
| Maytronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;9549 |
| Mediterranean Towers, Ltd. | &nbsp;&nbsp;4044 | &nbsp;&nbsp;&nbsp;9383 |
| Mega Or Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;757 | 20756 |
| Mehadrin, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;495 |
| Menora Mivtachim Holdings, Ltd. | &nbsp;&nbsp;1766 | 34296 |
| Migdal Insurance & Financial Holdings, Ltd. (A) | 27734 | 31647 |
| Mivtach Shamir Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;8981 |
| Naphtha Israel Petroleum Corp., Ltd. (A) | &nbsp;&nbsp;2030 | &nbsp;&nbsp;&nbsp;9397 |
| Nawi Brothers, Ltd. | &nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;9821 |
| Neto Malinda Trading, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;451 | 11194 |
| Neto ME Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;7671 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Israel (continued)** |  |  |
| Novolog, Ltd. | &nbsp;&nbsp;20186 | $&nbsp;&nbsp;&nbsp;&nbsp;15971 |
| Oil Refineries, Ltd. | 102102 | &nbsp;&nbsp;&nbsp;&nbsp;35791 |
| One Software Technologies, Ltd. | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;23703 |
| OPC Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Partner Communications Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;5179 | &nbsp;&nbsp;&nbsp;&nbsp;37476 |
| Paz Oil Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;43022 |
| Perion Network, Ltd. (A) | &nbsp;&nbsp;&nbsp;1368 | &nbsp;&nbsp;&nbsp;&nbsp;33925 |
| Plasson Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;10739 |
| Plus500, Ltd. | &nbsp;&nbsp;&nbsp;4668 | &nbsp;&nbsp;&nbsp;&nbsp;101348 |
| Prashkovsky Investments and Construction, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7332 |
| Priortech, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6924 |
| Rami Levy Chain Stores Hashikma Marketing 2006, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;31398 |
| Sano-Brunos Enterprises, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9812 |
| Scope Metals Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;14015 |
| Shikun & Binui, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Summit Real Estate Holdings, Ltd. | &nbsp;&nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp;29930 |
| Tadiran Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8595 |
| Tamar Petroleum, Ltd. (C) | &nbsp;&nbsp;&nbsp;3135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8150 |
| Tel Aviv Stock Exchange, Ltd. | &nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;18956 |
| Telsys, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4688 |
| Tera Light, Ltd. (A) | &nbsp;&nbsp;&nbsp;1766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390 |
| Tiv Taam Holdings 1, Ltd. | &nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6914 |
| Tremor International, Ltd. (A) | &nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9095 |
| YH Dimri Construction & Development, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;17683 |
|  |  | 1406884 |
| **Italy - 3.5%** |  |  |
| A2A SpA | &nbsp;&nbsp;70456 | &nbsp;&nbsp;&nbsp;&nbsp;93936 |
| ACEA SpA | &nbsp;&nbsp;&nbsp;2494 | &nbsp;&nbsp;&nbsp;&nbsp;34468 |
| Anima Holding SpA (C) | &nbsp;&nbsp;&nbsp;9201 | &nbsp;&nbsp;&nbsp;&nbsp;36834 |
| Aquafil SpA | &nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6358 |
| Arnoldo Mondadori Editore SpA | &nbsp;&nbsp;12613 | &nbsp;&nbsp;&nbsp;&nbsp;24464 |
| Ascopiave SpA | &nbsp;&nbsp;&nbsp;4243 | &nbsp;&nbsp;&nbsp;&nbsp;10897 |
| Avio SpA | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8981 |
| Azimut Holding SpA | &nbsp;&nbsp;&nbsp;5155 | &nbsp;&nbsp;&nbsp;&nbsp;115347 |
| Banca Generali SpA | &nbsp;&nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;&nbsp;104799 |
| Banca IFIS SpA | &nbsp;&nbsp;&nbsp;1607 | &nbsp;&nbsp;&nbsp;&nbsp;22876 |
| Banca Mediolanum SpA | &nbsp;&nbsp;10812 | &nbsp;&nbsp;&nbsp;&nbsp;90090 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp;19792 | &nbsp;&nbsp;&nbsp;&nbsp;79869 |
| Banca Profilo SpA | &nbsp;&nbsp;24032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5102 |
| Banco BPM SpA | &nbsp;&nbsp;68596 | &nbsp;&nbsp;&nbsp;&nbsp;244542 |
| Banco di Desio e della Brianza SpA | &nbsp;&nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8534 |
| BasicNet SpA | &nbsp;&nbsp;&nbsp;1571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8903 |
| BFF Bank SpA (C) | &nbsp;&nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;44390 |
| BPER Banca | &nbsp;&nbsp;49221 | &nbsp;&nbsp;&nbsp;&nbsp;100911 |
| Brembo SpA | &nbsp;&nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp;61470 |
| Brunello Cucinelli SpA | &nbsp;&nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;165147 |
| Buzzi Unicem SpA | &nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;68910 |
| Cairo Communication SpA | &nbsp;&nbsp;&nbsp;4712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7511 |
| Carel Industries SpA (C) | &nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;40453 |
| Cembre SpA | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;12174 |
| Cementir Holding NV | &nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp;27360 |
| CIR SpA-Compagnie Industriali (A) | &nbsp;&nbsp;60979 | &nbsp;&nbsp;&nbsp;&nbsp;28381 |
| Credito Emiliano SpA | &nbsp;&nbsp;&nbsp;6238 | &nbsp;&nbsp;&nbsp;&nbsp;44324 |
| Danieli & C Officine Meccaniche SpA | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;17548 |
| Danieli & C Officine Meccaniche SpA, Savings Shares | &nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;32490 |
| De' Longhi SpA | &nbsp;&nbsp;&nbsp;2969 | &nbsp;&nbsp;&nbsp;&nbsp;66770 |
| DeA Capital SpA (A) | &nbsp;&nbsp;&nbsp;4665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7384 |
| doValue SpA (C) | &nbsp;&nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp;41688 |
| Enav SpA (C) | &nbsp;&nbsp;&nbsp;6142 | &nbsp;&nbsp;&nbsp;&nbsp;26054 |
| Esprinet SpA | &nbsp;&nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;17414 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Italy (continued)** |  |  |
| Eurotech SpA (A) | &nbsp;&nbsp;1562 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795 |
| Fila SpA | &nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp;16747 |
| Fincantieri SpA (A) | 18635 | &nbsp;&nbsp;&nbsp;&nbsp;10562 |
| Garofalo Health Care SpA (A) | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 |
| Geox SpA (A) | &nbsp;&nbsp;8390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7208 |
| Gruppo MutuiOnline SpA | &nbsp;&nbsp;1697 | &nbsp;&nbsp;&nbsp;&nbsp;47845 |
| Hera SpA | 33999 | &nbsp;&nbsp;&nbsp;&nbsp;91702 |
| Illimity Bank SpA (A) | &nbsp;&nbsp;5067 | &nbsp;&nbsp;&nbsp;&nbsp;37391 |
| IMMSI SpA | &nbsp;&nbsp;6756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965 |
| Interpump Group SpA | &nbsp;&nbsp;3216 | &nbsp;&nbsp;&nbsp;&nbsp;145193 |
| Iren SpA | 30720 | &nbsp;&nbsp;&nbsp;&nbsp;48246 |
| Italgas SpA | 22890 | &nbsp;&nbsp;&nbsp;&nbsp;127094 |
| Italmobiliare SpA | &nbsp;&nbsp;1039 | &nbsp;&nbsp;&nbsp;&nbsp;28445 |
| Iveco Group NV (A) | &nbsp;&nbsp;5491 | &nbsp;&nbsp;&nbsp;&nbsp;32672 |
| Leonardo SpA | 19212 | &nbsp;&nbsp;&nbsp;&nbsp;165698 |
| Maire Tecnimont SpA | 10323 | &nbsp;&nbsp;&nbsp;&nbsp;34336 |
| MFE-MediaForEurope NV, Class A | 53918 | &nbsp;&nbsp;&nbsp;&nbsp;20890 |
| MFE-MediaForEurope NV, Class B | 18917 | &nbsp;&nbsp;&nbsp;&nbsp;11384 |
| OVS SpA (C) | 11708 | &nbsp;&nbsp;&nbsp;&nbsp;26420 |
| Pharmanutra SpA | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;17856 |
| Piaggio & C SpA | 11658 | &nbsp;&nbsp;&nbsp;&nbsp;34976 |
| Piovan SpA (C) | &nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7646 |
| Pirelli & C. SpA (C) | 16502 | &nbsp;&nbsp;&nbsp;&nbsp;70736 |
| Prima Industrie SpA | &nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4716 |
| RAI Way SpA (C) | &nbsp;&nbsp;5678 | &nbsp;&nbsp;&nbsp;&nbsp;32905 |
| Reply SpA | &nbsp;&nbsp;1004 | &nbsp;&nbsp;&nbsp;&nbsp;115176 |
| Sabaf SpA | &nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 |
| SAES Getters SpA | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;10311 |
| SAES Getters SpA, Savings Shares | &nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9116 |
| Safilo Group SpA (A) | 15794 | &nbsp;&nbsp;&nbsp;&nbsp;25725 |
| Salvatore Ferragamo SpA | &nbsp;&nbsp;2452 | &nbsp;&nbsp;&nbsp;&nbsp;43352 |
| Sanlorenzo SpA/Ameglia | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;21976 |
| Saras SpA (A) | 32800 | &nbsp;&nbsp;&nbsp;&nbsp;40325 |
| Sesa SpA | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;48657 |
| Sogefi SpA (A) | &nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3537 |
| SOL SpA | &nbsp;&nbsp;2259 | &nbsp;&nbsp;&nbsp;&nbsp;42718 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp;5938 | &nbsp;&nbsp;&nbsp;&nbsp;46498 |
| Technogym SpA (C) | &nbsp;&nbsp;6815 | &nbsp;&nbsp;&nbsp;&nbsp;52264 |
| Tinexta SpA | &nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;26085 |
| Unieuro SpA (C) | &nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp;14314 |
| Unipol Gruppo SpA | 22660 | &nbsp;&nbsp;&nbsp;&nbsp;110327 |
| UnipolSai Assicurazioni SpA | &nbsp;&nbsp;9024 | &nbsp;&nbsp;&nbsp;&nbsp;22217 |
| Webuild SpA | 14544 | &nbsp;&nbsp;&nbsp;&nbsp;21379 |
| Zignago Vetro SpA | &nbsp;&nbsp;1669 | &nbsp;&nbsp;&nbsp;&nbsp;25188 |
|  |  | 3427009 |
| **Japan - 24.5%** |  |  |
| A&D HOLON Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6899 |
| Access Company, Ltd. (A) | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;14357 |
| Achilles Corp. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9425 |
| Adastria Company, Ltd. | &nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;28716 |
| ADEKA Corp. | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;58753 |
| Ad-sol Nissin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8199 |
| Advan Group Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6508 |
| Aeon Delight Company, Ltd. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;32098 |
| Aeon Fantasy Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8180 |
| AEON Financial Service Company, Ltd. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;22198 |
| Aeon Hokkaido Corp. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;15230 |
| Aeria, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 |
| Ai Holdings Corp. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;30001 |
| Aica Kogyo Company, Ltd. | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;42575 |
| Aichi Corp. | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;18743 |
| Aichi Financial Group, Inc. | &nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp;50854 |
| Aichi Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;11500 |
| Aichi Tokei Denki Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9114 |
| Aida Engineering, Ltd. | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;26485 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Aiful Corp. | 8600 | $25834 |
| Ain Holdings, Inc. | 1100 | 50376 |
| Aiphone Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8393 |
| Airport Facilities Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;4724 |
| Airtrip Corp. | &nbsp;&nbsp;900 | 16630 |
| Aisan Industry Company, Ltd. | 2500 | 13035 |
| Aizawa Securities Group Company, Ltd. | 2400 | 12452 |
| Akatsuki, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;6687 |
| Akebono Brake Industry Company, Ltd. (A) | 9400 | 10654 |
| Albis Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9120 |
| Alconix Corp. | 1600 | 16050 |
| Alpen Company, Ltd. | 1100 | 16303 |
| Alps Alpine Company, Ltd. | 1600 | 14462 |
| Altech Corp. | 1100 | 17496 |
| Amano Corp. | 2200 | 40413 |
| Amuse, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5312 |
| Amvis Holdings, Inc. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;7588 |
| Anest Iwata Corp. | 1800 | 11747 |
| AnGes, Inc. (A) | 6300 | &nbsp;&nbsp;&nbsp;5831 |
| Anicom Holdings, Inc. | 3700 | 16227 |
| Anritsu Corp. | 6700 | 65242 |
| AOKI Holdings, Inc. | 3100 | 16016 |
| Aoyama Trading Company, Ltd. | 2500 | 17343 |
| Aoyama Zaisan Networks Company, Ltd. | 1100 | &nbsp;&nbsp;&nbsp;8997 |
| Aozora Bank, Ltd. | 1300 | 25551 |
| Arakawa Chemical Industries, Ltd. | 1400 | 10296 |
| Arata Corp. | &nbsp;&nbsp;700 | 22265 |
| Arcland Service Holdings Company, Ltd. | 1000 | 16412 |
| ARCLANDS Corp. | 1000 | 11873 |
| Arcs Company, Ltd. | 2125 | 35424 |
| Arealink Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6775 |
| Argo Graphics, Inc. | 1000 | 28110 |
| Arisawa Manufacturing Company, Ltd. | 2900 | 28575 |
| ARTERIA Networks Corp. | 1600 | 15075 |
| Aruhi Corp. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;3840 |
| As One Corp. | 1000 | 43687 |
| Asahi Company, Ltd. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8332 |
| Asahi Diamond Industrial Company, Ltd. | 3900 | 19886 |
| Asahi Holdings, Inc. | 3600 | 52590 |
| Asahi Yukizai Corp. | 1200 | 25398 |
| Asanuma Corp. | 1400 | 32058 |
| Asia Pile Holdings Corp. | 3300 | 13553 |
| ASKA Pharmaceutical Holdings Company, Ltd. | 1600 | 15723 |
| ASKUL Corp. | 2000 | 25962 |
| Atrae, Inc. (A) | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5238 |
| Atsugi Company, Ltd. (A) | 1200 | &nbsp;&nbsp;&nbsp;3586 |
| Aucnet, Inc. | 1100 | 15267 |
| Autobacs Seven Company, Ltd. | 3400 | 37338 |
| Aval Data Corp. | &nbsp;&nbsp;600 | 17877 |
| Avant Group Corp. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9276 |
| Avex, Inc. | 2800 | 35692 |
| Axell Corp. | &nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;1264 |
| Axial Retailing, Inc. | &nbsp;&nbsp;800 | 20602 |
| AZ-COM MARUWA Holdings, Inc. | 3100 | 36869 |
| Bando Chemical Industries, Ltd. | 2500 | 18067 |
| Bank of the Ryukyus, Ltd. | 3000 | 19872 |
| Belc Company, Ltd. | &nbsp;&nbsp;500 | 21804 |
| Bell System24 Holdings, Inc. | 2400 | 24733 |
| Belluna Company, Ltd. | 3300 | 16995 |
| Benesse Holdings, Inc. | 2200 | 33449 |
| Bengo4.com, Inc. (A) | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5857 |
| Bic Camera, Inc. | 3800 | 37018 |
| BML, Inc. | 1000 | 25368 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Bourbon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | $&nbsp;&nbsp;&nbsp;8154 |
| Br. Holdings Corp. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;5752 |
| BrainPad, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;5026 |
| Bunka Shutter Company, Ltd. | &nbsp;&nbsp;5000 | 41877 |
| Business Brain Showa-Ota, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9832 |
| C Uyemura & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 36893 |
| CAC Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9775 |
| Canon Electronics, Inc. | &nbsp;&nbsp;1700 | 19539 |
| Carenet, Inc. | &nbsp;&nbsp;1200 | 10057 |
| Carlit Holdings Company, Ltd. | &nbsp;&nbsp;2100 | 12381 |
| Cawachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 15251 |
| CellSource Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | 18104 |
| Celsys, Inc. | &nbsp;&nbsp;3200 | 16133 |
| Central Automotive Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9332 |
| Central Glass Company, Ltd. | &nbsp;&nbsp;1400 | 29766 |
| Central Security Patrols Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 12368 |
| Central Sports Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 11017 |
| Ceres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;3965 |
| Change, Inc. | &nbsp;&nbsp;1700 | 27875 |
| Charm Care Corp. KK | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;9539 |
| Chilled & Frozen Logistics Holdings Company, Ltd. | &nbsp;&nbsp;1600 | 14736 |
| Chino Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5342 |
| Chiyoda Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;4746 |
| Chiyoda Corp. (A) | &nbsp;&nbsp;9100 | 24773 |
| Chiyoda Integre Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13061 |
| Chofu Seisakusho Company, Ltd. | &nbsp;&nbsp;1700 | 24819 |
| Chori Company, Ltd. | &nbsp;&nbsp;1200 | 19710 |
| Chubu Shiryo Company, Ltd. | &nbsp;&nbsp;2000 | 16521 |
| Chudenko Corp. | &nbsp;&nbsp;1900 | 30098 |
| Chuetsu Pulp & Paper Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;3640 |
| Chugai Ro Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6155 |
| Chugin Financial Group, Inc. | &nbsp;&nbsp;6700 | 48654 |
| Chugoku Marine Paints, Ltd. | &nbsp;&nbsp;4000 | 28881 |
| CI Takiron Corp. | &nbsp;&nbsp;3000 | 11450 |
| Citizen Watch Company, Ltd. | 11100 | 49838 |
| CKD Corp. | &nbsp;&nbsp;2400 | 34003 |
| Cleanup Corp. | &nbsp;&nbsp;2100 | 10257 |
| CMIC Holdings Company, Ltd. | &nbsp;&nbsp;1200 | 16238 |
| CMK Corp. | &nbsp;&nbsp;3700 | 12860 |
| COLOPL, Inc. | &nbsp;&nbsp;3200 | 15227 |
| Colowide Company, Ltd. | &nbsp;&nbsp;3200 | 43182 |
| Comture Corp. | &nbsp;&nbsp;1000 | 18172 |
| CONEXIO Corp. | &nbsp;&nbsp;1300 | 18804 |
| COOKPAD, Inc. (A) | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;4011 |
| Corona Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;1994 |
| Cosel Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;9216 |
| Cosmo Energy Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;5294 |
| Cota Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;6866 |
| CRE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6779 |
| Create Restaurants Holdings, Inc. | &nbsp;&nbsp;5800 | 40074 |
| Create SD Holdings Company, Ltd. | &nbsp;&nbsp;1700 | 42470 |
| Credit Saison Company, Ltd. | &nbsp;&nbsp;1700 | 21920 |
| Creek & River Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11797 |
| Cresco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 10591 |
| CTS Company, Ltd. | &nbsp;&nbsp;1900 | 11720 |
| Curves Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 13089 |
| Cybozu, Inc. | &nbsp;&nbsp;2000 | 36719 |
| Dai Nippon Toryo Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;6841 |
| Daicel Corp. | &nbsp;&nbsp;3800 | 27347 |
| Dai-Dan Company, Ltd. | &nbsp;&nbsp;1000 | 16616 |
| Daido Metal Company, Ltd. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;6839 |
| Daido Steel Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 26068 |
| Daihen Corp. | &nbsp;&nbsp;1100 | 32185 |
| Daiho Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23909 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Daiichi Jitsugyo Company, Ltd. | &nbsp;&nbsp;400 | $13351 |
| Daiichi Kensetsu Corp. | 1300 | 13973 |
| Daiichi Kigenso Kagaku-Kogyo Company, Ltd. | 1800 | 13941 |
| Daiken Corp. | 1000 | 15855 |
| Daiken Medical Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;1363 |
| Daiki Aluminium Industry Company, Ltd. | 3000 | 28246 |
| Daikoku Denki Company, Ltd. | &nbsp;&nbsp;800 | 12108 |
| Daikokutenbussan Company, Ltd. | &nbsp;&nbsp;300 | 12210 |
| Daikyonishikawa Corp. | 1900 | &nbsp;&nbsp;&nbsp;8001 |
| Dainichiseika Color & Chemicals Manufacturing Company, Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;3878 |
| Daio Paper Corp. | 4200 | 32224 |
| Daiseki Company, Ltd. | 2160 | 74138 |
| Daishi Hokuetsu Financial Group, Inc. | 2200 | 47896 |
| Daishinku Corp. | 1600 | &nbsp;&nbsp;&nbsp;8351 |
| Daito Pharmaceutical Company, Ltd. | &nbsp;&nbsp;700 | 13251 |
| Daitron Company, Ltd. | &nbsp;&nbsp;600 | 10358 |
| Daiwa Industries, Ltd. | 2000 | 17039 |
| Daiwabo Holdings Company, Ltd. | 4000 | 58641 |
| DCM Holdings Company, Ltd. | 5100 | 46536 |
| DeNA Company, Ltd. | 2700 | 36106 |
| Densan System Holdings Company, Ltd. | &nbsp;&nbsp;700 | 11576 |
| Denyo Company, Ltd. | &nbsp;&nbsp;900 | 10621 |
| Dexerials Corp. | 2500 | 48033 |
| DIC Corp. | 2700 | 47395 |
| Digital Arts, Inc. | &nbsp;&nbsp;700 | 29518 |
| Digital Garage, Inc. | 1600 | 55220 |
| Digital Hearts Holdings Company, Ltd. | &nbsp;&nbsp;900 | 12242 |
| Digital Holdings, Inc. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5543 |
| Dip Corp. | 1400 | 40038 |
| Direct Marketing MiX, Inc. | &nbsp;&nbsp;900 | 10562 |
| DKK Company, Ltd. | 1000 | 15160 |
| DKS Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5878 |
| DMG Mori Company, Ltd. | 4700 | 62241 |
| Doshisha Company, Ltd. | 1700 | 20918 |
| Doutor Nichires Holdings Company, Ltd. | 2300 | 29988 |
| DTS Corp. | 1800 | 40563 |
| Duskin Company, Ltd. | 1600 | 36345 |
| DyDo Group Holdings, Inc. | &nbsp;&nbsp;700 | 25274 |
| Eagle Industry Company, Ltd. | 2200 | 17873 |
| Earth Corp. | &nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;3833 |
| Ebara Jitsugyo Company, Ltd. | &nbsp;&nbsp;800 | 13361 |
| Ebase Company, Ltd. | 1200 | &nbsp;&nbsp;&nbsp;5072 |
| EDION Corp. | 2700 | 26407 |
| EF-ON, Inc. | 1500 | &nbsp;&nbsp;&nbsp;5565 |
| eGuarantee, Inc. | 2000 | 36967 |
| E-Guardian, Inc. | &nbsp;&nbsp;900 | 18174 |
| Eiken Chemical Company, Ltd. | 1800 | 23266 |
| Eizo Corp. | &nbsp;&nbsp;800 | 20759 |
| Elan Corp. | 2800 | 19834 |
| Elecom Company, Ltd. | 1600 | 16399 |
| Elematec Corp. | 1400 | 16384 |
| EM Systems Company, Ltd. | 1400 | &nbsp;&nbsp;&nbsp;8612 |
| Enigmo, Inc. | 2400 | 11598 |
| en-japan, Inc. | 2100 | 38449 |
| Enplas Corp. | &nbsp;&nbsp;600 | 17530 |
| eRex Company, Ltd. | 1900 | 31427 |
| ES-Con Japan, Ltd. | 1500 | &nbsp;&nbsp;&nbsp;8901 |
| ESPEC Corp. | 1600 | 23011 |
| Exedy Corp. | 1900 | 23158 |
| EXEO Group, Inc. | 3100 | 52677 |
| Ezaki Glico Company, Ltd. | 2000 | 54853 |
| FCC Company, Ltd. | 2200 | 22467 |
| FDK Corp. (A) | 1100 | &nbsp;&nbsp;&nbsp;7631 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Feed One Company, Ltd. | 1600 | $&nbsp;&nbsp;&nbsp;8687 |
| Ferrotec Holdings Corp. | 2000 | 42102 |
| FIDEA Holdings Company, Ltd. | 2140 | 23478 |
| Financial Partners Group Company, Ltd. | 1800 | 15135 |
| Fixstars Corp. | 2000 | 18521 |
| Food & Life Companies, Ltd. | 1200 | 23658 |
| Foster Electric Company, Ltd. | 2100 | 13201 |
| FP Corp. | &nbsp;&nbsp;800 | 23017 |
| France Bed Holdings Company, Ltd. | 2200 | 15711 |
| Fronteo, Inc. | 1900 | 12191 |
| Fudo Tetra Corp. | 1080 | 12253 |
| Fuji Company, Ltd. | 1400 | 19450 |
| Fuji Corp. (Aichi) | 2600 | 37882 |
| Fuji Corp., Ltd. | 1300 | &nbsp;&nbsp;&nbsp;6494 |
| Fuji Kyuko Company, Ltd. | &nbsp;&nbsp;800 | 28931 |
| Fuji Media Holdings, Inc. | 3300 | 26842 |
| Fuji Oil Company, Ltd. | 4400 | &nbsp;&nbsp;&nbsp;8606 |
| Fuji Oil Holdings, Inc. | 2500 | 38596 |
| Fuji Pharma Company, Ltd. | 1400 | 10867 |
| Fuji Seal International, Inc. | 2100 | 26807 |
| Fuji Soft, Inc. | &nbsp;&nbsp;500 | 28672 |
| Fujibo Holdings, Inc. | &nbsp;&nbsp;700 | 17100 |
| Fujicco Company, Ltd. | 1500 | 21857 |
| Fujikura Kasei Company, Ltd. | 2000 | &nbsp;&nbsp;&nbsp;6142 |
| Fujikura, Ltd. | 1900 | 14282 |
| Fujimi, Inc. | &nbsp;&nbsp;800 | 37741 |
| Fujimori Kogyo Company, Ltd. | &nbsp;&nbsp;800 | 18330 |
| Fujisash Company, Ltd. | 4900 | &nbsp;&nbsp;&nbsp;2492 |
| Fujiya Company, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9625 |
| Fukuda Corp. | &nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;6755 |
| Fukuda Denshi Company, Ltd. | 1000 | 34797 |
| Fukui Computer Holdings, Inc. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5995 |
| Fukushima Galilei Company, Ltd. | &nbsp;&nbsp;500 | 15910 |
| Fukuyama Transporting Company, Ltd. | 1000 | 23099 |
| FULLCAST Holdings Company, Ltd. | 1000 | 21359 |
| Funai Soken Holdings, Inc. | 1800 | 37013 |
| Furukawa Company, Ltd. | 1900 | 18209 |
| Furukawa Electric Company, Ltd. | 2900 | 54118 |
| Furuno Electric Company, Ltd. | 2400 | 17560 |
| Furuya Metal Company, Ltd. | &nbsp;&nbsp;300 | 20169 |
| Furyu Corp. | 1300 | 10704 |
| Fuso Chemical Company, Ltd. | 1000 | 25645 |
| Fuso Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7582 |
| Futaba Corp. | 1600 | &nbsp;&nbsp;&nbsp;6428 |
| Futaba Industrial Company, Ltd. | 3400 | &nbsp;&nbsp;&nbsp;9104 |
| Future Corp. | 2400 | 29856 |
| Fuyo General Lease Company, Ltd. | &nbsp;&nbsp;600 | 39113 |
| G-7 Holdings, Inc. | 2000 | 25057 |
| Gakken Holdings Company, Ltd. | 1600 | 11299 |
| Gecoss Corp. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;2541 |
| Genki Sushi Company, Ltd. | &nbsp;&nbsp;500 | 11699 |
| Genky DrugStores Company, Ltd. | &nbsp;&nbsp;600 | 16523 |
| Geo Holdings Corp. | 2700 | 44586 |
| GLOBERIDE, Inc. | 1200 | 23191 |
| Glory, Ltd. | 2100 | 34886 |
| GMO Financial Holdings, Inc. | 1600 | &nbsp;&nbsp;&nbsp;6205 |
| GMO GlobalSign Holdings KK | &nbsp;&nbsp;500 | 15538 |
| Goldcrest Company, Ltd. | &nbsp;&nbsp;990 | 12632 |
| Golf Digest Online, Inc. | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9158 |
| Gremz, Inc. | &nbsp;&nbsp;800 | 12816 |
| GS Yuasa Corp. | 3000 | 47937 |
| G-Tekt Corp. | 1200 | 13075 |
| Gun-Ei Chemical Industry Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7159 |
| GungHo Online Entertainment, Inc. | 2000 | 32304 |
| Gunze, Ltd. | &nbsp;&nbsp;800 | 25575 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| H.U. Group Holdings, Inc. | &nbsp;&nbsp;1600 | $34946 |
| H2O Retailing Corp. | &nbsp;&nbsp;4900 | 47710 |
| Hagihara Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;7256 |
| Hagiwara Electric Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9285 |
| Hakudo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 11199 |
| Hakuto Company, Ltd. | &nbsp;&nbsp;1300 | 41097 |
| Halows Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 13230 |
| Hamakyorex Company, Ltd. | &nbsp;&nbsp;1000 | 23847 |
| Hanwa Company, Ltd. | &nbsp;&nbsp;1500 | 42382 |
| Happinet Corp. | &nbsp;&nbsp;1000 | 15610 |
| Hazama Ando Corp. | &nbsp;&nbsp;8390 | 53548 |
| Heiwa Corp. | &nbsp;&nbsp;1500 | 28279 |
| Heiwa Real Estate Company, Ltd. | &nbsp;&nbsp;1500 | 41698 |
| Heiwado Company, Ltd. | &nbsp;&nbsp;2000 | 32525 |
| Hennge KK (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;7092 |
| Hibiya Engineering, Ltd. | &nbsp;&nbsp;1500 | 21705 |
| HI-LEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;4918 |
| Hioki EE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 23846 |
| Hirano Tecseed Company, Ltd. | &nbsp;&nbsp;1100 | 18973 |
| Hirata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 20711 |
| Hirogin Holdings, Inc. | 10600 | 53173 |
| Hiroshima Gas Company, Ltd. | &nbsp;&nbsp;4900 | 12811 |
| Hisaka Works, Ltd. | &nbsp;&nbsp;2000 | 12353 |
| Hitachi Zosen Corp. | &nbsp;&nbsp;5500 | 34368 |
| Hochiki Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6365 |
| Hodogaya Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 14901 |
| Hogy Medical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 20609 |
| Hokkaido Electric Power Company, Inc. | 11100 | 39214 |
| Hokkaido Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7635 |
| Hokkan Holdings, Ltd. | &nbsp;&nbsp;1000 | 10440 |
| Hokko Chemical Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;4299 |
| Hokkoku Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 31023 |
| Hokuetsu Corp. | &nbsp;&nbsp;6100 | 35227 |
| Hokuetsu Industries Company, Ltd. | &nbsp;&nbsp;2000 | 19993 |
| Hokuhoku Financial Group, Inc. | &nbsp;&nbsp;5900 | 43632 |
| Hokuriku Electric Power Company | &nbsp;&nbsp;9400 | 38980 |
| Hokuto Corp. | &nbsp;&nbsp;1600 | 22821 |
| H-One Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;4640 |
| Honeys Holdings Company, Ltd. | &nbsp;&nbsp;1350 | 14270 |
| Hoosiers Holdings Company, Ltd. | &nbsp;&nbsp;3400 | 19203 |
| Horiba, Ltd. | &nbsp;&nbsp;1600 | 69364 |
| Hosiden Corp. | &nbsp;&nbsp;3000 | 35846 |
| Hosokawa Micron Corp. | &nbsp;&nbsp;1000 | 20267 |
| House Foods Group, Inc. | &nbsp;&nbsp;1500 | 31621 |
| HS Holdings Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;9160 |
| IBJ, Inc. | &nbsp;&nbsp;1800 | 13321 |
| Ichikoh Industries, Ltd. | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;6283 |
| Ichinen Holdings Company, Ltd. | &nbsp;&nbsp;1900 | 17934 |
| Ichiyoshi Securities Company, Ltd. | &nbsp;&nbsp;2800 | 13088 |
| Icom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 10618 |
| IDEC Corp. | &nbsp;&nbsp;1600 | 35303 |
| IDOM, Inc. | &nbsp;&nbsp;3900 | 19547 |
| Ihara Science Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13400 |
| Iino Kaiun Kaisha, Ltd. | &nbsp;&nbsp;4600 | 32323 |
| IJTT Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;4571 |
| I'll, Inc. | &nbsp;&nbsp;1100 | 14866 |
| Imasen Electric Industrial | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;2336 |
| Imuraya Group Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5086 |
| Inaba Denki Sangyo Company, Ltd. | &nbsp;&nbsp;2100 | 42969 |
| Inaba Seisakusho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;2118 |
| Inabata & Company, Ltd. | &nbsp;&nbsp;2000 | 36131 |
| Inageya Company, Ltd. | &nbsp;&nbsp;2100 | 19733 |
| Ines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9331 |
| i-Net Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;8876 |
| Infocom Corp. | &nbsp;&nbsp;1000 | 16312 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Infomart Corp. | &nbsp;&nbsp;8700 | $23564 |
| Information Services International-Dentsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 20764 |
| INFRONEER Holdings, Inc. | &nbsp;&nbsp;3468 | 26356 |
| Insource Company, Ltd. | &nbsp;&nbsp;3800 | 44692 |
| Intage Holdings, Inc. | &nbsp;&nbsp;1700 | 17675 |
| Inter Action Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;9277 |
| Inui Global Logistics Company, Ltd. | &nbsp;&nbsp;1600 | 24041 |
| I-PEX, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;4490 |
| IR Japan Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;5468 |
| Iriso Electronics Company, Ltd. | &nbsp;&nbsp;1000 | 32034 |
| Iseki & Company, Ltd. | &nbsp;&nbsp;1200 | 10656 |
| Ishihara Sangyo Kaisha, Ltd. | &nbsp;&nbsp;2100 | 16795 |
| ITFOR, Inc. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;6334 |
| ITmedia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 11214 |
| Itochu Enex Company, Ltd. | &nbsp;&nbsp;3800 | 30295 |
| Itochu-Shokuhin Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 11266 |
| Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;7500 | 39798 |
| Itoki Corp. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;9332 |
| IwaiCosmo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;8849 |
| Iyogin Holdings, Inc. | &nbsp;&nbsp;7000 | 37906 |
| Izumi Company, Ltd. | &nbsp;&nbsp;1900 | 42899 |
| J Front Retailing Company, Ltd. | &nbsp;&nbsp;1800 | 16335 |
| J Trust Company, Ltd. | &nbsp;&nbsp;4900 | 19159 |
| JAC Recruitment Company, Ltd. | &nbsp;&nbsp;1200 | 22043 |
| Jaccs Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 28161 |
| JAFCO Group Company, Ltd. | &nbsp;&nbsp;3100 | 52548 |
| JANOME Corp. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;5251 |
| Japan Aviation Electronics Industry, Ltd. | &nbsp;&nbsp;2300 | 36689 |
| Japan Cash Machine Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;5685 |
| Japan Communications, Inc. (A) | 15200 | 25159 |
| Japan Electronic Materials Corp. | &nbsp;&nbsp;1800 | 18177 |
| Japan Elevator Service Holdings Company, Ltd. | &nbsp;&nbsp;3300 | 41022 |
| Japan Investment Adviser Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;8836 |
| Japan Lifeline Company, Ltd. | &nbsp;&nbsp;4400 | 30458 |
| Japan Material Company, Ltd. | &nbsp;&nbsp;2900 | 46639 |
| Japan Medical Dynamic Marketing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;6143 |
| Japan Petroleum Exploration Company, Ltd. | &nbsp;&nbsp;1200 | 35281 |
| Japan Property Management Center Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6052 |
| Japan Pulp & Paper Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 23253 |
| Japan Securities Finance Company, Ltd. | &nbsp;&nbsp;5500 | 48003 |
| Japan Transcity Corp. | &nbsp;&nbsp;3100 | 11981 |
| Japan Wool Textile Company, Ltd. | &nbsp;&nbsp;4000 | 29514 |
| Jastec Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3487 |
| JBCC Holdings, Inc. | &nbsp;&nbsp;1200 | 16695 |
| JCR Pharmaceuticals Company, Ltd. | &nbsp;&nbsp;2000 | 25477 |
| JCU Corp. | &nbsp;&nbsp;1300 | 30255 |
| Jeol, Ltd. | &nbsp;&nbsp;2000 | 53781 |
| Jimoto Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;3283 |
| JINS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 27935 |
| JINUSHI Company, Ltd. | &nbsp;&nbsp;1100 | 15491 |
| JM Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7781 |
| JMS Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;1913 |
| J-Oil Mills, Inc. | &nbsp;&nbsp;1200 | 13818 |
| Joshin Denki Company, Ltd. | &nbsp;&nbsp;1100 | 16168 |
| Joyful Honda Company, Ltd. | &nbsp;&nbsp;1900 | 27797 |
| JSB Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 12343 |
| JSP Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8989 |
| Juki Corp. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;6513 |
| Juroku Financial Group, Inc. | &nbsp;&nbsp;1700 | 37027 |
| Justsystems Corp. | &nbsp;&nbsp;1500 | 32068 |
| JVCKenwood Corp. | &nbsp;&nbsp;9070 | 25288 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| K&O Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | $12383 |
| Kaga Electronics Company, Ltd. | &nbsp;&nbsp;1100 | 33947 |
| Kagome Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11591 |
| Kaken Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1200 | 35377 |
| Kakiyasu Honten Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;7915 |
| Kamakura Shinsho, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;9178 |
| Kameda Seika Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 23169 |
| Kamei Corp. | &nbsp;&nbsp;2000 | 18483 |
| Kanaden Corp. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;9129 |
| Kanagawa Chuo Kotsu Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 17265 |
| Kanamic Network Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;2615 |
| Kanamoto Company, Ltd. | &nbsp;&nbsp;1900 | 32526 |
| Kandenko Company, Ltd. | &nbsp;&nbsp;4700 | 30695 |
| Kaneka Corp. | &nbsp;&nbsp;2300 | 57193 |
| Kanematsu Corp. | &nbsp;&nbsp;3500 | 39736 |
| Kanematsu Electronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 23631 |
| Kanto Denka Kogyo Company, Ltd. | &nbsp;&nbsp;2000 | 13956 |
| Kasai Kogyo Company, Ltd. (A) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;1027 |
| Katakura Industries Company, Ltd. | &nbsp;&nbsp;1700 | 22409 |
| Katitas Company, Ltd. | &nbsp;&nbsp;1800 | 41089 |
| Kato Sangyo Company, Ltd. | &nbsp;&nbsp;1100 | 29307 |
| Kato Works Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;2149 |
| Kawada Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;4963 |
| KeePer Technical Laboratory Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 13518 |
| Keihanshin Building Company, Ltd. | &nbsp;&nbsp;2000 | 19374 |
| Keiyo Company, Ltd. | &nbsp;&nbsp;3400 | 23242 |
| Kenko Mayonnaise Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9376 |
| KFC Holdings Japan, Ltd. | &nbsp;&nbsp;1500 | 31474 |
| KH Neochem Company, Ltd. | &nbsp;&nbsp;1500 | 30394 |
| Kimoto Company, Ltd. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;4938 |
| King Jim Company, Ltd. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;9462 |
| Kissei Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1700 | 33216 |
| Ki-Star Real Estate Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 20855 |
| Kitanotatsujin Corp. | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;6977 |
| Kitz Corp. | &nbsp;&nbsp;4600 | 27534 |
| Koa Corp. | &nbsp;&nbsp;1700 | 24132 |
| Koatsu Gas Kogyo Company, Ltd. | &nbsp;&nbsp;3000 | 14533 |
| Kobe Electric Railway Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;7211 |
| Kobe Steel, Ltd. | 13000 | 63052 |
| Kohnan Shoji Company, Ltd. | &nbsp;&nbsp;1200 | 31154 |
| Kojima Company, Ltd. | &nbsp;&nbsp;3000 | 13456 |
| Kokuyo Company, Ltd. | &nbsp;&nbsp;4000 | 56301 |
| Komatsu Matere Company, Ltd. | &nbsp;&nbsp;1700 | 10004 |
| KOMEDA Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 37734 |
| Komeri Company, Ltd. | &nbsp;&nbsp;1500 | 31092 |
| Komori Corp. | &nbsp;&nbsp;3700 | 22516 |
| Kondotec, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;9806 |
| Konica Minolta, Inc. | 14200 | 56577 |
| Konishi Company, Ltd. | &nbsp;&nbsp;2200 | 27951 |
| Konoike Transport Company, Ltd. | &nbsp;&nbsp;2600 | 31551 |
| Kotobuki Spirits Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 29275 |
| Krosaki Harima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 15354 |
| KRS Corp. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;7972 |
| K's Holdings Corp. | &nbsp;&nbsp;7100 | 60897 |
| Kumagai Gumi Company, Ltd. | &nbsp;&nbsp;1800 | 35855 |
| Kumiai Chemical Industry Company, Ltd. | &nbsp;&nbsp;3400 | 23297 |
| Kurabo Industries, Ltd. | &nbsp;&nbsp;1600 | 26283 |
| Kureha Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 30408 |
| Kurimoto, Ltd. | &nbsp;&nbsp;1000 | 13236 |
| Kusuri no Aoki Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 40778 |
| KYB Corp. | &nbsp;&nbsp;1000 | 25655 |
| Kyodo Printing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 10467 |
| Kyoei Steel, Ltd. | &nbsp;&nbsp;1800 | 17099 |
| Kyokuto Kaihatsu Kogyo Company, Ltd. | &nbsp;&nbsp;2300 | 25083 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Kyokuto Securities Company, Ltd. | &nbsp;&nbsp;2300 | $10028 |
| Kyokuyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 20180 |
| KYORIN Holdings, Inc. | &nbsp;&nbsp;1900 | 24794 |
| Kyoritsu Maintenance Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 26787 |
| Kyosan Electric Manufacturing Company, Ltd. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;6089 |
| Kyudenko Corp. | &nbsp;&nbsp;1800 | 44526 |
| Kyushu Financial Group, Inc. | 16000 | 54951 |
| LAC Company, Ltd. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;8682 |
| Lacto Japan Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13470 |
| LEC, Inc. | &nbsp;&nbsp;1600 | 11003 |
| Leopalace21 Corp. (A) | &nbsp;&nbsp;6400 | 14064 |
| Life Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 16058 |
| LIFULL Company, Ltd. | &nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;6507 |
| Link And Motivation, Inc. | &nbsp;&nbsp;2300 | 11178 |
| Lintec Corp. | &nbsp;&nbsp;1900 | 30840 |
| Litalico, Inc. | &nbsp;&nbsp;1300 | 22671 |
| Locondo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3266 |
| M&A Capital Partners Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | 20935 |
| Mabuchi Motor Company, Ltd. | &nbsp;&nbsp;2200 | 62196 |
| Macnica Holdings, Inc. | &nbsp;&nbsp;1750 | 41413 |
| Macromill, Inc. | &nbsp;&nbsp;2300 | 18290 |
| Maeda Kosen Company, Ltd. | &nbsp;&nbsp;1100 | 25930 |
| Maezawa Kasei Industries Company, Ltd. | &nbsp;&nbsp;1100 | 11072 |
| Maezawa Kyuso Industries Company, Ltd. | &nbsp;&nbsp;1800 | 12515 |
| Makino Milling Machine Company, Ltd. | &nbsp;&nbsp;1200 | 39204 |
| Management Solutions Company, Ltd. | &nbsp;&nbsp;1300 | 32531 |
| Mandom Corp. | &nbsp;&nbsp;1600 | 17704 |
| Mani, Inc. | &nbsp;&nbsp;3500 | 53652 |
| MarkLines Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7733 |
| Mars Group Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 12890 |
| Marubun Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;1434 |
| Marudai Food Company, Ltd. | &nbsp;&nbsp;1600 | 17276 |
| Maruha Nichiro Corp. | &nbsp;&nbsp;1400 | 26640 |
| Maruichi Steel Tube, Ltd. | &nbsp;&nbsp;2700 | 55199 |
| Marusan Securities Company, Ltd. | &nbsp;&nbsp;4700 | 14247 |
| Maruwa Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 35478 |
| Maruzen Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11015 |
| Maruzen Showa Unyu Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 18401 |
| Marvelous, Inc. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;7265 |
| Matsuda Sangyo Company, Ltd. | &nbsp;&nbsp;1400 | 24380 |
| Matsui Securities Company, Ltd. | &nbsp;&nbsp;4900 | 29234 |
| Max Company, Ltd. | &nbsp;&nbsp;2000 | 29569 |
| Maxell, Ltd. | &nbsp;&nbsp;2200 | 22586 |
| Maxvalu Tokai Company, Ltd. | &nbsp;&nbsp;1100 | 23942 |
| MCJ Company, Ltd. | &nbsp;&nbsp;3200 | 23026 |
| Mebuki Financial Group, Inc. | &nbsp;&nbsp;6800 | 17281 |
| MEC Company, Ltd. | &nbsp;&nbsp;1500 | 23477 |
| Media Do Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7825 |
| Medical Data Vision Company, Ltd. | &nbsp;&nbsp;1700 | 11545 |
| Medikit Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9789 |
| MedPeer, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6233 |
| Megachips Corp. | &nbsp;&nbsp;1100 | 20384 |
| Megmilk Snow Brand Company, Ltd. | &nbsp;&nbsp;2800 | 38278 |
| Meidensha Corp. | &nbsp;&nbsp;1800 | 25468 |
| Meiko Electronics Company, Ltd. | &nbsp;&nbsp;1200 | 21745 |
| Meisei Industrial Company, Ltd. | &nbsp;&nbsp;3000 | 17802 |
| Meitec Corp. | &nbsp;&nbsp;3100 | 56234 |
| Meito Sangyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 11164 |
| Melco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11531 |
| Members Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;6044 |
| Menicon Company, Ltd. | &nbsp;&nbsp;2500 | 52563 |
| METAWATER Company, Ltd. | &nbsp;&nbsp;1600 | 19668 |
| Micronics Japan Company, Ltd. | &nbsp;&nbsp;2100 | 20572 |
| Midac Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9680 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Mie Kotsu Group Holdings, Inc. | 3700 | $13631 |
| Milbon Company, Ltd. | &nbsp;&nbsp;912 | 39454 |
| Mimasu Semiconductor Industry Company, Ltd. | 1400 | 24759 |
| Ministop Company, Ltd. | 1100 | 11887 |
| Mirainovate Company, Ltd. | 3300 | &nbsp;&nbsp;&nbsp;5485 |
| MIRAIT ONE Corp. | 4240 | 48867 |
| Mirarth Holdings, Inc. | 6300 | 17679 |
| Miroku Jyoho Service Company, Ltd. | &nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;7636 |
| Mitani Corp. | 2000 | 19735 |
| Mitani Sekisan Company, Ltd. | &nbsp;&nbsp;600 | 18933 |
| Mito Securities Company, Ltd. | 6300 | 10168 |
| Mitsuba Corp. | 2300 | &nbsp;&nbsp;&nbsp;8170 |
| Mitsubishi Logisnext Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;5265 |
| Mitsubishi Logistics Corp. | 1600 | 36698 |
| Mitsubishi Materials Corp. | 1600 | 25285 |
| Mitsubishi Paper Mills, Ltd. | 2600 | &nbsp;&nbsp;&nbsp;5585 |
| Mitsubishi Pencil Company, Ltd. | 1500 | 16290 |
| Mitsubishi Research Institute, Inc. | &nbsp;&nbsp;500 | 18531 |
| Mitsubishi Shokuhin Company, Ltd. | &nbsp;&nbsp;600 | 14199 |
| Mitsubishi Steel Manufacturing Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;7505 |
| Mitsuboshi Belting, Ltd. | 1000 | 25915 |
| Mitsui DM Sugar Holdings Company, Ltd. | 1000 | 15232 |
| Mitsui E&S Holdings Company, Ltd. (A) | 4600 | 13312 |
| Mitsui Matsushima Holdings Company, Ltd. | 1000 | 22763 |
| Mitsui Mining & Smelting Company, Ltd. | 2200 | 51491 |
| Mitsui-Soko Holdings Company, Ltd. | &nbsp;&nbsp;900 | 24459 |
| Mitsuuroko Group Holdings Company, Ltd. | 3200 | 27525 |
| Mixi, Inc. | 1800 | 33578 |
| Mizuho Leasing Company, Ltd. | 1400 | 35398 |
| Mizuno Corp. | 1400 | 29977 |
| Mochida Pharmaceutical Company, Ltd. | &nbsp;&nbsp;900 | 23728 |
| Monex Group, Inc. | 8000 | 25076 |
| Morinaga & Company, Ltd. | &nbsp;&nbsp;900 | 26853 |
| Morinaga Milk Industry Company, Ltd. | 1500 | 56959 |
| Morita Holdings Corp. | 2200 | 19334 |
| Morningstar Japan KK | 1300 | &nbsp;&nbsp;&nbsp;4466 |
| Morozoff, Ltd. | &nbsp;&nbsp;500 | 13362 |
| MrMax Holdings, Ltd. | 1700 | &nbsp;&nbsp;&nbsp;8519 |
| m-up Holdings, Inc. | 2000 | 21694 |
| Musashi Seimitsu Industry Company, Ltd. | 2600 | 30621 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp;600 | 16319 |
| Nafco Company, Ltd. | 1100 | 13026 |
| Nagano Keiki Company, Ltd. | 1800 | 15332 |
| Nagase & Company, Ltd. | 4400 | 66499 |
| Nagatanien Holdings Company, Ltd. | 1000 | 15376 |
| Nagawa Company, Ltd. | &nbsp;&nbsp;300 | 17018 |
| Nakamuraya Company, Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;7032 |
| Nakanishi, Inc. | 2600 | 50360 |
| Nakayama Steel Works, Ltd. | 1100 | &nbsp;&nbsp;&nbsp;6744 |
| Namura Shipbuilding Company, Ltd. (A) | 3252 | &nbsp;&nbsp;&nbsp;9480 |
| Nankai Electric Railway Company, Ltd. | 1000 | 21591 |
| Natori Company, Ltd. | &nbsp;&nbsp;700 | 10949 |
| NEC Capital Solutions, Ltd. | &nbsp;&nbsp;800 | 13030 |
| NEC Networks & System Integration Corp. | 2100 | 26254 |
| NET One Systems Company, Ltd. | &nbsp;&nbsp;900 | 23438 |
| Neturen Company, Ltd. | 2300 | 11466 |
| Nextage Company, Ltd. | 1200 | 23022 |
| NHK Spring Company, Ltd. | 9100 | 57862 |
| Nice Corp. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6231 |
| Nichias Corp. | 2800 | 50033 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Nichiban Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | $&nbsp;&nbsp;&nbsp;9885 |
| Nichicon Corp. | &nbsp;&nbsp;3400 | 31400 |
| Nichiden Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7832 |
| Nichiha Corp. | &nbsp;&nbsp;1200 | 24074 |
| Nichireki Company, Ltd. | &nbsp;&nbsp;2000 | 19065 |
| Nichirin Company, Ltd. | &nbsp;&nbsp;1040 | 14052 |
| Nihon Chouzai Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;7388 |
| Nihon Dempa Kogyo Company, Ltd. | &nbsp;&nbsp;2500 | 29186 |
| Nihon Flush Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;6630 |
| Nihon House Holdings Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;2751 |
| Nihon Kagaku Sangyo Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;7280 |
| Nihon Kohden Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 19421 |
| Nihon Nohyaku Company, Ltd. | &nbsp;&nbsp;4000 | 21862 |
| Nihon Parkerizing Company, Ltd. | &nbsp;&nbsp;3900 | 27648 |
| Nihon Tokushu Toryo Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;6480 |
| Nikkiso Company, Ltd. | &nbsp;&nbsp;2100 | 15048 |
| Nikkon Holdings Company, Ltd. | &nbsp;&nbsp;2200 | 39134 |
| Nippn Corp. | &nbsp;&nbsp;2700 | 33208 |
| Nippon Air Conditioning Services Company, Ltd. | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;8335 |
| Nippon Beet Sugar Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 11393 |
| Nippon Carbon Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 15957 |
| Nippon Chemical Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9251 |
| Nippon Chemi-Con Corp. (A) | &nbsp;&nbsp;1100 | 12900 |
| Nippon Coke & Engineering Company, Ltd. | 18000 | 11660 |
| Nippon Concrete Industries Company, Ltd. | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;4359 |
| Nippon Denko Company, Ltd. | &nbsp;&nbsp;6530 | 17400 |
| Nippon Densetsu Kogyo Company, Ltd. | &nbsp;&nbsp;2100 | 24855 |
| Nippon Electric Glass Company, Ltd. | &nbsp;&nbsp;3900 | 69217 |
| Nippon Fine Chemical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13884 |
| Nippon Gas Company, Ltd. | &nbsp;&nbsp;4300 | 67292 |
| Nippon Hume Corp. | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;9785 |
| Nippon Kayaku Company, Ltd. | &nbsp;&nbsp;5300 | 45639 |
| Nippon Kodoshi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11298 |
| Nippon Koei Company, Ltd. | &nbsp;&nbsp;1000 | 24889 |
| Nippon Light Metal Holdings Company, Ltd. | &nbsp;&nbsp;2820 | 32374 |
| Nippon Paper Industries Company, Ltd. | &nbsp;&nbsp;4600 | 34097 |
| Nippon Parking Development Company, Ltd. | &nbsp;&nbsp;8400 | 19822 |
| Nippon Pillar Packing Company, Ltd. | &nbsp;&nbsp;1500 | 30963 |
| Nippon Rietec Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;1922 |
| Nippon Seiki Company, Ltd. | &nbsp;&nbsp;3000 | 17867 |
| Nippon Sharyo, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8875 |
| Nippon Sheet Glass Company, Ltd. (A) | &nbsp;&nbsp;4100 | 17517 |
| Nippon Shokubai Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 31938 |
| Nippon Signal Company, Ltd. | &nbsp;&nbsp;3000 | 23611 |
| Nippon Soda Company, Ltd. | &nbsp;&nbsp;1200 | 39247 |
| Nippon Steel Trading Corp. | &nbsp;&nbsp;&nbsp;&nbsp;972 | 68098 |
| Nippon Thompson Company, Ltd. | &nbsp;&nbsp;4700 | 18289 |
| Nippon Yakin Kogyo Company, Ltd. | &nbsp;&nbsp;1000 | 31539 |
| Nipro Corp. | &nbsp;&nbsp;6700 | 52483 |
| Nishikawa Rubber Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6703 |
| Nishimatsu Construction Company, Ltd. | &nbsp;&nbsp;1500 | 44586 |
| Nishimatsuya Chain Company, Ltd. | &nbsp;&nbsp;2700 | 31831 |
| Nishi-Nippon Financial Holdings, Inc. | &nbsp;&nbsp;7000 | 51154 |
| Nishi-Nippon Railroad Company, Ltd. | &nbsp;&nbsp;2400 | 44871 |
| Nishio Rent All Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 18851 |
| Nissan Shatai Company, Ltd. | &nbsp;&nbsp;3400 | 21221 |
| Nissei ASB Machine Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 16178 |
| Nissei Plastic Industrial Company, Ltd. | &nbsp;&nbsp;1600 | 11210 |
| Nissha Company, Ltd. | &nbsp;&nbsp;2300 | 31740 |
| Nisshinbo Holdings, Inc. | &nbsp;&nbsp;4768 | 35137 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Nissin Corp. | &nbsp;&nbsp;1400 | $22292 |
| Nissin Electric Company, Ltd. | &nbsp;&nbsp;3400 | 32228 |
| Nissin Sugar Company, Ltd. | &nbsp;&nbsp;1100 | 15594 |
| Nisso Corp. | &nbsp;&nbsp;2400 | 10483 |
| Nissui Corp. | 13000 | 54145 |
| Nitta Corp. | &nbsp;&nbsp;1300 | 27611 |
| NITTAN Corp. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;2392 |
| Nittetsu Mining Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 14518 |
| Nitto Boseki Company, Ltd. | &nbsp;&nbsp;1400 | 20186 |
| Nitto Kogyo Corp. | &nbsp;&nbsp;1600 | 28588 |
| Nitto Kohki Company, Ltd. | &nbsp;&nbsp;1000 | 11361 |
| Nitto Seiko Company, Ltd. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;6347 |
| Noevir Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 35122 |
| Nohmi Bosai, Ltd. | &nbsp;&nbsp;1300 | 15595 |
| Nojima Corp. | &nbsp;&nbsp;3200 | 34562 |
| NOK Corp. | &nbsp;&nbsp;4700 | 41357 |
| Nomura Micro Science Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 18556 |
| Noritake Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 21295 |
| Noritsu Koki Company, Ltd. | &nbsp;&nbsp;1000 | 17985 |
| Noritz Corp. | &nbsp;&nbsp;2100 | 22911 |
| North Pacific Bank, Ltd. | 12900 | 24911 |
| NS Tool Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6239 |
| NS United Kaiun Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23522 |
| NSD Company, Ltd. | &nbsp;&nbsp;2200 | 38021 |
| NTN Corp. | 18400 | 36460 |
| Obara Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 16409 |
| Ohsho Food Service Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 31839 |
| Oiles Corp. | &nbsp;&nbsp;1380 | 15291 |
| Oisix ra daichi, Inc. (A) | &nbsp;&nbsp;1200 | 20241 |
| Okabe Company, Ltd. | &nbsp;&nbsp;2600 | 13661 |
| Okamoto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 16821 |
| Okamura Corp. | &nbsp;&nbsp;3700 | 39676 |
| Okasan Securities Group, Inc. | &nbsp;&nbsp;7000 | 20314 |
| Oki Electric Industry Company, Ltd. | &nbsp;&nbsp;4700 | 25285 |
| Okinawa Cellular Telephone Company | &nbsp;&nbsp;&nbsp;&nbsp;800 | 17688 |
| Okinawa Financial Group, Inc. | &nbsp;&nbsp;1140 | 20196 |
| OKUMA Corp. | &nbsp;&nbsp;1100 | 38964 |
| Okumura Corp. | &nbsp;&nbsp;1600 | 36233 |
| Okura Industrial Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11105 |
| Okuwa Company, Ltd. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;6733 |
| Onoken Company, Ltd. | &nbsp;&nbsp;1500 | 16547 |
| Onward Holdings Company, Ltd. | &nbsp;&nbsp;7100 | 16639 |
| Optex Group Company, Ltd. | &nbsp;&nbsp;1900 | 25742 |
| Optim Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;5358 |
| Optorun Company, Ltd. | &nbsp;&nbsp;1100 | 18608 |
| Organo Corp. | &nbsp;&nbsp;1100 | 24415 |
| Orient Corp. | &nbsp;&nbsp;3180 | 27946 |
| Oriental Shiraishi Corp. | &nbsp;&nbsp;7600 | 16377 |
| Origin Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5536 |
| Oro Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 10018 |
| Osaka Organic Chemical Industry, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11525 |
| Osaka Soda Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23194 |
| Osaka Steel Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;6172 |
| Osaki Electric Company, Ltd. | &nbsp;&nbsp;3000 | 11929 |
| OSG Corp. | &nbsp;&nbsp;3900 | 53400 |
| Outsourcing, Inc. | &nbsp;&nbsp;5800 | 41567 |
| Oyo Corp. | &nbsp;&nbsp;1300 | 22411 |
| Pacific Industrial Company, Ltd. | &nbsp;&nbsp;3000 | 22715 |
| Pacific Metals Company, Ltd. | &nbsp;&nbsp;1100 | 15867 |
| PAL GROUP Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 13300 |
| PALTAC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 24517 |
| Paramount Bed Holdings Company, Ltd. | &nbsp;&nbsp;1600 | 31233 |
| Paris Miki Holdings, Inc. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;2223 |
| Pasona Group, Inc. | &nbsp;&nbsp;1300 | 18277 |
| PC Depot Corp. | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;3508 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Penta-Ocean Construction Company, Ltd. | 12400 | $57919 |
| PeptiDream, Inc. (A) | &nbsp;&nbsp;1900 | 29826 |
| Pharma Foods International Company, Ltd. | &nbsp;&nbsp;1600 | 15984 |
| PIA Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11936 |
| Pickles Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6850 |
| Pigeon Corp. | &nbsp;&nbsp;3600 | 59000 |
| Pilot Corp. | &nbsp;&nbsp;1200 | 43689 |
| Piolax, Inc. | &nbsp;&nbsp;2100 | 26957 |
| Pole To Win Holdings, Inc. | &nbsp;&nbsp;2000 | 12508 |
| Premier Anti-Aging Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;3449 |
| Premium Group Company, Ltd. | &nbsp;&nbsp;2400 | 31498 |
| Premium Water Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7509 |
| Press Kogyo Company, Ltd. | &nbsp;&nbsp;7000 | 22322 |
| Pressance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;8165 |
| Prestige International, Inc. | &nbsp;&nbsp;5000 | 27506 |
| Prima Meat Packers, Ltd. | &nbsp;&nbsp;1500 | 24964 |
| Procrea Holdings, Inc. | &nbsp;&nbsp;2344 | 39263 |
| Pronexus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;4366 |
| Proto Corp. | &nbsp;&nbsp;1800 | 16899 |
| PS Mitsubishi Construction Company, Ltd. | &nbsp;&nbsp;2600 | 12051 |
| Punch Industry Company, Ltd. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;3795 |
| QB Net Holdings Company, Ltd. | &nbsp;&nbsp;1800 | 18350 |
| Qol Holdings Company, Ltd. | &nbsp;&nbsp;1400 | 12370 |
| Quick Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 12774 |
| Raccoon Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;6532 |
| Raito Kogyo Company, Ltd. | &nbsp;&nbsp;2400 | 34431 |
| Raiznext Corp. | &nbsp;&nbsp;3300 | 32898 |
| Rasa Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;8421 |
| Raysum Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;2972 |
| Relia, Inc. | &nbsp;&nbsp;2100 | 15929 |
| Rengo Company, Ltd. | &nbsp;&nbsp;8600 | 59017 |
| RENOVA, Inc. (A) | &nbsp;&nbsp;1400 | 25058 |
| Resorttrust, Inc. | &nbsp;&nbsp;3700 | 65850 |
| Restar Holdings Corp. | &nbsp;&nbsp;1600 | 24977 |
| Retail Partners Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;3010 |
| Rheon Automatic Machinery Company, Ltd. | &nbsp;&nbsp;1500 | 12158 |
| Ricoh Leasing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23083 |
| Riken Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 10208 |
| Riken Keiki Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 26731 |
| Riken Technos Corp. | &nbsp;&nbsp;3000 | 10911 |
| Riken Vitamin Company, Ltd. | &nbsp;&nbsp;1400 | 20409 |
| Rion Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6974 |
| Riso Kyoiku Company, Ltd. | &nbsp;&nbsp;9300 | 25815 |
| Rock Field Company, Ltd. | &nbsp;&nbsp;1000 | 11424 |
| Rokko Butter Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5844 |
| Roland Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 18503 |
| Roland DG Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 18988 |
| Rorze Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 37388 |
| Round One Corp. | 10500 | 38003 |
| RS Technologies Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 21348 |
| Ryobi, Ltd. | &nbsp;&nbsp;1400 | 12138 |
| Ryoden Corp. | &nbsp;&nbsp;1500 | 19277 |
| Ryosan Company, Ltd. | &nbsp;&nbsp;1500 | 32296 |
| S Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 20261 |
| S&B Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 15890 |
| Sac's Bar Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;3519 |
| Saibu Gas Holdings Company, Ltd. | &nbsp;&nbsp;1500 | 19384 |
| Saint-Care Holding Corp. | &nbsp;&nbsp;1900 | 12155 |
| Sakai Chemical Industry Company, Ltd. | &nbsp;&nbsp;1400 | 18873 |
| Sakai Moving Service Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 16416 |
| Sakata INX Corp. | &nbsp;&nbsp;3100 | 24644 |
| Sala Corp. | &nbsp;&nbsp;3000 | 16584 |
| SAMTY Company, Ltd. | &nbsp;&nbsp;1600 | 25883 |
| San ju San Financial Group, Inc. | &nbsp;&nbsp;1700 | 20544 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| San-A Company, Ltd. | &nbsp;&nbsp;1300 | $42439 |
| San-Ai Obbli Company, Ltd. | &nbsp;&nbsp;3500 | 33190 |
| Sangetsu Corp. | &nbsp;&nbsp;2100 | 34232 |
| Sanken Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 44349 |
| Sanki Engineering Company, Ltd. | &nbsp;&nbsp;2000 | 23494 |
| Sankyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 16342 |
| Sankyo Frontier Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;7169 |
| Sankyo Seiko Company, Ltd. | &nbsp;&nbsp;3200 | 11533 |
| Sankyo Tateyama, Inc. | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;9996 |
| Sankyu, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 25610 |
| Sanoh Industrial Company, Ltd. | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;8763 |
| Sanshin Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 12747 |
| Sanyo Chemical Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 18417 |
| Sanyo Denki Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 17347 |
| Sanyo Electric Railway Company, Ltd. | &nbsp;&nbsp;1600 | 25901 |
| Sanyo Shokai, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;7401 |
| Sanyo Special Steel Company, Ltd. | &nbsp;&nbsp;1400 | 22904 |
| Sanyo Trading Company, Ltd. | &nbsp;&nbsp;1200 | 10247 |
| Sato Holdings Corp. | &nbsp;&nbsp;1700 | 24352 |
| Sawai Group Holdings Company, Ltd. | &nbsp;&nbsp;1800 | 56162 |
| SB Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 11315 |
| SBS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 18930 |
| Scroll Corp. | &nbsp;&nbsp;2300 | 12442 |
| Seika Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;5913 |
| Seikagaku Corp. | &nbsp;&nbsp;1700 | 11557 |
| Seikitokyu Kogyo Company, Ltd. | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;9570 |
| Seiko Group Corp. | &nbsp;&nbsp;1400 | 32761 |
| Seino Holdings Company, Ltd. | &nbsp;&nbsp;4000 | 35457 |
| Seiren Company, Ltd. | &nbsp;&nbsp;2700 | 49491 |
| Sekisui Jushi Corp. | &nbsp;&nbsp;1600 | 22649 |
| Sekisui Kasei Company, Ltd. | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;7345 |
| Senko Group Holdings Company, Ltd. | &nbsp;&nbsp;4700 | 34460 |
| Senshu Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 15027 |
| Senshu Ikeda Holdings, Inc. | 17200 | 33029 |
| Senshukai Company, Ltd. (A) | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;9664 |
| Seria Company, Ltd. | &nbsp;&nbsp;2100 | 45900 |
| Seven Bank, Ltd. | 11200 | 22331 |
| Shibaura Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 18487 |
| Shibaura Machine Company, Ltd. | &nbsp;&nbsp;1600 | 31554 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | 22569 |
| Shibuya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 13903 |
| Shidax Corp. (A) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;8286 |
| Shikibo, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;8099 |
| Shikoku Chemicals Corp. | &nbsp;&nbsp;3000 | 29602 |
| Shikoku Electric Power Company, Inc. | &nbsp;&nbsp;5200 | 30148 |
| Shima Seiki Manufacturing, Ltd. | &nbsp;&nbsp;1200 | 16765 |
| Shin Nippon Biomedical Laboratories, Ltd. | &nbsp;&nbsp;1000 | 17047 |
| Shinagawa Refractories Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 17652 |
| Shindengen Electric Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11291 |
| Shin-Etsu Polymer Company, Ltd. | &nbsp;&nbsp;3000 | 25631 |
| Shinko Shoji Company, Ltd. | &nbsp;&nbsp;1900 | 17114 |
| Shinmaywa Industries, Ltd. | &nbsp;&nbsp;2400 | 19135 |
| Shinnihon Corp. | &nbsp;&nbsp;2500 | 14101 |
| Shinwa Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 10658 |
| Ship Healthcare Holdings, Inc. | &nbsp;&nbsp;2600 | 52875 |
| Shizuoka Gas Company, Ltd. | &nbsp;&nbsp;4500 | 37541 |
| Shoei Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 30922 |
| Shoei Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 20722 |
| Shofu, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 10395 |
| Showa Sangyo Company, Ltd. | &nbsp;&nbsp;1000 | 19091 |
| SIGMAXYZ Holdings, Inc. | &nbsp;&nbsp;1800 | 17547 |
| Siix Corp. | &nbsp;&nbsp;1600 | 15396 |
| Sinanen Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 23500 |
| Sinfonia Technology Company, Ltd. | &nbsp;&nbsp;1600 | 17854 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Sinko Industries, Ltd. | &nbsp;&nbsp;1500 | $16371 |
| Sintokogio, Ltd. | &nbsp;&nbsp;3400 | 16862 |
| SKY Perfect JSAT Holdings, Inc. | &nbsp;&nbsp;7800 | 28665 |
| Smaregi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;6426 |
| SMK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5256 |
| SMS Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 10118 |
| Snow Peak, Inc. | &nbsp;&nbsp;1200 | 21373 |
| Sodick Company, Ltd. | &nbsp;&nbsp;2400 | 12850 |
| Softcreate Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 16591 |
| Software Service, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;200 | 14301 |
| Soken Chemical & Engineering Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 10500 |
| Solasto Corp. | &nbsp;&nbsp;3200 | 17502 |
| Sotetsu Holdings, Inc. | &nbsp;&nbsp;3500 | 59014 |
| Sparx Group Company, Ltd. | &nbsp;&nbsp;1480 | 18789 |
| S-Pool, Inc. | &nbsp;&nbsp;5000 | 32678 |
| SRA Holdings | &nbsp;&nbsp;&nbsp;&nbsp;600 | 13771 |
| SRE Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | 10016 |
| ST Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;8050 |
| St. Marc Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 10249 |
| Star Mica Holdings Company, Ltd. | &nbsp;&nbsp;2200 | 11681 |
| Star Micronics Company, Ltd. | &nbsp;&nbsp;2300 | 28171 |
| Starts Corp., Inc. | &nbsp;&nbsp;1900 | 37590 |
| Starzen Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;9447 |
| Stella Chemifa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 14947 |
| Strike Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 23721 |
| Studio Alice Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 14075 |
| Sugimoto & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 10452 |
| Sumida Corp. | &nbsp;&nbsp;1600 | 16562 |
| Suminoe Textile Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6983 |
| Sumitomo Bakelite Company, Ltd. | &nbsp;&nbsp;1700 | 50148 |
| Sumitomo Densetsu Company, Ltd. | &nbsp;&nbsp;1300 | 23892 |
| Sumitomo Mitsui Construction Company, Ltd. | &nbsp;&nbsp;6000 | 19023 |
| Sumitomo Osaka Cement Company, Ltd. | &nbsp;&nbsp;1500 | 37031 |
| Sumitomo Riko Company, Ltd. | &nbsp;&nbsp;2400 | 10982 |
| Sumitomo Seika Chemicals Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 15478 |
| Sun Frontier Fudousan Company, Ltd. | &nbsp;&nbsp;2200 | 18390 |
| Suruga Bank, Ltd. | 11700 | 37544 |
| SWCC Showa Holdings Company, Ltd. | &nbsp;&nbsp;2400 | 32447 |
| SymBio Pharmaceuticals, Ltd. (A) | &nbsp;&nbsp;2100 | 10247 |
| Systena Corp. | 12200 | 37840 |
| Syuppin Company, Ltd. | &nbsp;&nbsp;1200 | 11182 |
| T Hasegawa Company, Ltd. | &nbsp;&nbsp;1600 | 35295 |
| T RAD Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;9789 |
| T&K Toka Company, Ltd. | &nbsp;&nbsp;1600 | 14398 |
| Tachibana Eletech Company, Ltd. | &nbsp;&nbsp;1360 | 18206 |
| Tachi-S Company, Ltd. | &nbsp;&nbsp;2400 | 20022 |
| Tadano, Ltd. | &nbsp;&nbsp;5000 | 34501 |
| Taihei Dengyo Kaisha, Ltd. | &nbsp;&nbsp;1000 | 24781 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp;3800 | 59098 |
| Taiho Kogyo Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;5544 |
| Taikisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 22717 |
| Taisei Lamick Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 11279 |
| Taiyo Holdings Company, Ltd. | &nbsp;&nbsp;2000 | 33805 |
| Takamatsu Construction Group Company, Ltd. | &nbsp;&nbsp;1000 | 14528 |
| Takaoka Toko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;9460 |
| Takara Bio, Inc. | &nbsp;&nbsp;2100 | 27409 |
| Takara Holdings, Inc. | &nbsp;&nbsp;5700 | 45109 |
| Takara Standard Company, Ltd. | &nbsp;&nbsp;2200 | 23053 |
| Takasago International Corp. | &nbsp;&nbsp;1200 | 23139 |
| Takasago Thermal Engineering Company, Ltd. | &nbsp;&nbsp;1700 | 22960 |
| Takashimaya Company, Ltd. | &nbsp;&nbsp;1100 | 15317 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Takeuchi Manufacturing Company, Ltd. | &nbsp;&nbsp;1600 | $35131 |
| Takuma Company, Ltd. | &nbsp;&nbsp;3000 | 27960 |
| Tama Home Company, Ltd. | &nbsp;&nbsp;1000 | 19028 |
| Tamron Company, Ltd. | &nbsp;&nbsp;1500 | 33771 |
| Tamura Corp. | &nbsp;&nbsp;6000 | 32297 |
| Tanseisha Company, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;5960 |
| Tatsuta Electric Wire and Cable Company, Ltd. | &nbsp;&nbsp;4200 | 22590 |
| Tayca Corp. | &nbsp;&nbsp;1500 | 13351 |
| TBS Holdings, Inc. | &nbsp;&nbsp;1000 | 11602 |
| TDC Soft, Inc. | &nbsp;&nbsp;1200 | 13324 |
| TechMatrix Corp. | &nbsp;&nbsp;2000 | 27774 |
| Techno Horizon Company, Ltd. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;5043 |
| Teijin, Ltd. | &nbsp;&nbsp;4200 | 40930 |
| Teikoku Electric Manufacturing Company, Ltd. | &nbsp;&nbsp;1700 | 29605 |
| Teikoku Sen-I Company, Ltd. | &nbsp;&nbsp;1200 | 13717 |
| Tekken Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 10750 |
| Tenma Corp. | &nbsp;&nbsp;1000 | 15605 |
| Tess Holdings Company, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;9380 |
| T-Gaia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 11125 |
| The 77 Bank, Ltd. | &nbsp;&nbsp;2800 | 46931 |
| The Akita Bank, Ltd. | &nbsp;&nbsp;1100 | 16018 |
| The Awa Bank, Ltd. | &nbsp;&nbsp;2200 | 35553 |
| The Bank of Iwate, Ltd. | &nbsp;&nbsp;1100 | 16444 |
| The Bank of Nagoya, Ltd. | &nbsp;&nbsp;1100 | 27720 |
| The Bank of Saga, Ltd. | &nbsp;&nbsp;1000 | 13498 |
| The Chiba Kogyo Bank, Ltd. | &nbsp;&nbsp;3200 | 11044 |
| The Chugoku Electric Power Company, Inc. | &nbsp;&nbsp;7900 | 40512 |
| The Ehime Bank, Ltd. | &nbsp;&nbsp;2100 | 14603 |
| The First Bank of Toyama, Ltd. | &nbsp;&nbsp;2800 | 12442 |
| The Fukui Bank, Ltd. | &nbsp;&nbsp;1800 | 20558 |
| The Fukushima Bank, Ltd. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;4113 |
| The Furukawa Battery Company, Ltd. | &nbsp;&nbsp;1300 | 10686 |
| The Gunma Bank, Ltd. | 14200 | 54234 |
| The Hachijuni Bank, Ltd. | 14100 | 58571 |
| The Hyakugo Bank, Ltd. | 12500 | 34832 |
| The Hyakujushi Bank, Ltd. | &nbsp;&nbsp;1700 | 24681 |
| The Japan Steel Works, Ltd. | &nbsp;&nbsp;1900 | 37324 |
| The Keiyo Bank, Ltd. | &nbsp;&nbsp;4400 | 19565 |
| The Kita-Nippon Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 11311 |
| The Kiyo Bank, Ltd. | &nbsp;&nbsp;3800 | 45179 |
| The Miyazaki Bank, Ltd. | &nbsp;&nbsp;1000 | 18836 |
| The Monogatari Corp. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 19780 |
| The Musashino Bank, Ltd. | &nbsp;&nbsp;1700 | 26677 |
| The Nagano Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8124 |
| The Nanto Bank, Ltd. | &nbsp;&nbsp;2000 | 38888 |
| The Nippon Road Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;8997 |
| The Nisshin Oillio Group, Ltd. | &nbsp;&nbsp;1200 | 29955 |
| The Ogaki Kyoritsu Bank, Ltd. | &nbsp;&nbsp;1600 | 22806 |
| The Oita Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | 13977 |
| The Okinawa Electric Power Company, Inc. | &nbsp;&nbsp;1990 | 15276 |
| The Pack Corp. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 14605 |
| The San-In Godo Bank, Ltd. | &nbsp;&nbsp;8000 | 47120 |
| The Shibusawa Warehouse Company, Ltd. | &nbsp;&nbsp;1000 | 15743 |
| The Shiga Bank, Ltd. | &nbsp;&nbsp;2200 | 44074 |
| The Shikoku Bank, Ltd. | &nbsp;&nbsp;2800 | 20817 |
| The Shimizu Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;5899 |
| The Sumitomo Warehouse Company, Ltd. | &nbsp;&nbsp;1824 | 27096 |
| The Tochigi Bank, Ltd. | &nbsp;&nbsp;8000 | 18904 |
| The Toho Bank, Ltd. | 12000 | 20417 |
| The Tohoku Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3096 |
| The Tottori Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;3482 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| The Towa Bank, Ltd. | &nbsp;&nbsp;2900 | $12372 |
| The Yamagata Bank, Ltd. | &nbsp;&nbsp;2000 | 18788 |
| The Yamanashi Chuo Bank, Ltd. | &nbsp;&nbsp;2000 | 16887 |
| Tigers Polymer Corp. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;3054 |
| TKC Corp. | &nbsp;&nbsp;1300 | 35509 |
| Toa Corp. (Hyogo) | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;8174 |
| Toa Corp. (Tokyo) | &nbsp;&nbsp;1200 | 21626 |
| Toagosei Company, Ltd. | &nbsp;&nbsp;4300 | 36094 |
| Tobishima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;5505 |
| TOC Company, Ltd. | &nbsp;&nbsp;3400 | 17428 |
| Tocalo Company, Ltd. | &nbsp;&nbsp;3200 | 27776 |
| Toda Corp. | &nbsp;&nbsp;8400 | 45047 |
| Toda Kogyo Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;5674 |
| Toei Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;100 | 13412 |
| Toenec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 15928 |
| Toho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;7790 |
| Toho Gas Company, Ltd. | &nbsp;&nbsp;2200 | 41873 |
| Toho Holdings Company, Ltd. | &nbsp;&nbsp;2400 | 40019 |
| Toho Titanium Company, Ltd. | &nbsp;&nbsp;1300 | 27533 |
| Toho Zinc Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | 12411 |
| Tokai Carbon Company, Ltd. | 10000 | 80703 |
| Tokai Corp. | &nbsp;&nbsp;1200 | 17519 |
| TOKAI Holdings Corp. | &nbsp;&nbsp;4000 | 26109 |
| Tokai Rika Company, Ltd. | &nbsp;&nbsp;2600 | 27607 |
| Tokai Tokyo Financial Holdings, Inc. | 11500 | 30758 |
| Token Corp. | &nbsp;&nbsp;&nbsp;&nbsp;410 | 23019 |
| Tokushu Tokai Paper Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 12860 |
| Tokuyama Corp. | &nbsp;&nbsp;3200 | 43436 |
| Tokyo Base Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;1920 |
| Tokyo Electron Device, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;400 | 20172 |
| Tokyo Energy & Systems, Inc. | &nbsp;&nbsp;2000 | 14106 |
| Tokyo Keiki, Inc. | &nbsp;&nbsp;1000 | 10165 |
| Tokyo Kiraboshi Financial Group, Inc. | &nbsp;&nbsp;1936 | 38262 |
| Tokyo Ohka Kogyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;9040 |
| Tokyo Rakutenchi Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;6190 |
| Tokyo Rope Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;1287 |
| Tokyo Seimitsu Company, Ltd. | &nbsp;&nbsp;1800 | 58155 |
| Tokyo Steel Manufacturing Company, Ltd. | &nbsp;&nbsp;2700 | 24263 |
| Tokyo Tekko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;8631 |
| Tokyo Theatres Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;7697 |
| Tokyotokeiba Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | 17184 |
| Tokyu Construction Company, Ltd. | &nbsp;&nbsp;3900 | 18815 |
| Tomato Bank, Ltd. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;8713 |
| Tomen Devices Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;8366 |
| Tomoe Corp. | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;6741 |
| Tomoku Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;6413 |
| TOMONY Holdings, Inc. | 10600 | 29731 |
| Tomy Company, Ltd. | &nbsp;&nbsp;4500 | 43083 |
| Tonami Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | 13898 |
| Topcon Corp. | &nbsp;&nbsp;4700 | 54153 |
| Topre Corp. | &nbsp;&nbsp;2300 | 19636 |
| Topy Industries, Ltd. | &nbsp;&nbsp;1300 | 15951 |
| Torex Semiconductor, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | 13366 |
| Toridoll Holdings Corp. | &nbsp;&nbsp;2000 | 40943 |
| Torii Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1100 | 24312 |
| Torishima Pump Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;9760 |
| Tosei Corp. | &nbsp;&nbsp;2500 | 25869 |
| Toshiba TEC Corp. | &nbsp;&nbsp;1100 | 29969 |
| Tosho Company, Ltd. | &nbsp;&nbsp;1300 | 11035 |
| Totetsu Kogyo Company, Ltd. | &nbsp;&nbsp;1000 | 19889 |
| Towa Corp. | &nbsp;&nbsp;1300 | 16536 |
| Towa Pharmaceutical Company, Ltd. | &nbsp;&nbsp;1500 | 24214 |
| Toyo Construction Company, Ltd. | &nbsp;&nbsp;3100 | 20170 |
| Toyo Corp. | &nbsp;&nbsp;1100 | 11468 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| Toyo Denki Seizo KK | &nbsp;&nbsp;600 | $&nbsp;&nbsp;&nbsp;3839 |
| Toyo Engineering Corp. (A) | 2200 | &nbsp;&nbsp;&nbsp;9348 |
| Toyo Gosei Company, Ltd. | &nbsp;&nbsp;300 | 16301 |
| Toyo Ink SC Holdings Company, Ltd. | 2200 | 29969 |
| Toyo Kanetsu KK | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7739 |
| Toyo Securities Company, Ltd. | 6000 | 13267 |
| Toyo Tanso Company, Ltd. | 1000 | 28382 |
| Toyo Tire Corp. | 5100 | 57402 |
| Toyo Wharf & Warehouse Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;5748 |
| Toyobo Company, Ltd. | 4093 | 30931 |
| Toyoda Gosei Company, Ltd. | 1600 | 24676 |
| TPR Company, Ltd. | 1400 | 12913 |
| Trancom Company, Ltd. | &nbsp;&nbsp;400 | 22442 |
| Transaction Company, Ltd. | 1700 | 15678 |
| Transcosmos, Inc. | 1400 | 34380 |
| Tri Chemical Laboratories, Inc. | 1200 | 17993 |
| Trusco Nakayama Corp. | 2200 | 33788 |
| TS Tech Company, Ltd. | 4400 | 50323 |
| TSI Holdings Company, Ltd. | 5270 | 17670 |
| Tsubaki Nakashima Company, Ltd. | 2300 | 17678 |
| Tsubakimoto Chain Company | 1600 | 36094 |
| Tsugami Corp. | 1600 | 14020 |
| Tsukishima Kikai Company, Ltd. | 2000 | 14533 |
| Tsukuba Bank, Ltd. | 5700 | 10248 |
| Tsumura & Company | 2600 | 57021 |
| Tsurumi Manufacturing Company, Ltd. | 1000 | 15064 |
| TV Asahi Holdings Corp. | 2000 | 20270 |
| UACJ Corp. | 1903 | 31949 |
| UBE Corp. | 4400 | 64493 |
| Ubicom Holdings, Inc. | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;8467 |
| Uchida Yoko Company, Ltd. | &nbsp;&nbsp;400 | 14174 |
| Ulvac, Inc. | &nbsp;&nbsp;900 | 37507 |
| Union Tool Company | &nbsp;&nbsp;700 | 17104 |
| Unipres Corp. | 2600 | 14862 |
| United Arrows, Ltd. | 1600 | 22423 |
| United Super Markets Holdings, Inc. | 2400 | 20514 |
| UNITED, Inc. | 1300 | 12053 |
| Unitika, Ltd. (A) | 5900 | 10988 |
| Universal Entertainment Corp. (A) | 1200 | 21654 |
| Usen-Next Holdings Company, Ltd. | 1300 | 21072 |
| Ushio, Inc. | 4400 | 53952 |
| UT Group Company, Ltd. | 1500 | 25683 |
| UUUM Company, Ltd. (A) | &nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;5001 |
| V Technology Company, Ltd. | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;7617 |
| Valor Holdings Company, Ltd. | 1700 | 23466 |
| Valqua, Ltd. | 1000 | 19930 |
| Value HR Company, Ltd. | 1200 | 14220 |
| ValueCommerce Company, Ltd. | &nbsp;&nbsp;900 | 12310 |
| Vector, Inc. | 3100 | 31325 |
| Vertex Corp. | 1100 | 10980 |
| Vital KSK Holdings, Inc. | 3500 | 22550 |
| VT Holdings Company, Ltd. | 6600 | 23650 |
| Wacoal Holdings Corp. | 1900 | 34036 |
| Wacom Company, Ltd. | 8000 | 35365 |
| Wakachiku Construction Company, Ltd. | &nbsp;&nbsp;900 | 19374 |
| Wakita & Company, Ltd. | 2300 | 20775 |
| Warabeya Nichiyo Holdings Company, Ltd. | &nbsp;&nbsp;900 | 12581 |
| Watahan & Company, Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;6088 |
| WDB Holdings Company, Ltd. | &nbsp;&nbsp;700 | 11757 |
| Weathernews, Inc. | &nbsp;&nbsp;300 | 16234 |
| West Holdings Corp. | &nbsp;&nbsp;716 | 23825 |
| Will Group, Inc. | 1200 | 10865 |
| WingArc1st, Inc. | 2100 | 32225 |
| WIN-Partners Company, Ltd. | 1000 | &nbsp;&nbsp;&nbsp;8099 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Japan (continued)** |  |  |
| World Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 |
| World Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11398 |
| Wowow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5797 |
| Xebio Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19474 |
| Yahagi Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11438 |
| Yaizu Suisankagaku Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7105 |
| YAKUODO Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15116 |
| YAMABIKO Corp. | &nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19932 |
| YAMADA Consulting Group Company, Ltd. | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9751 |
| Yamae Group Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11105 |
| Yamaguchi Financial Group, Inc. | &nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62632 |
| Yamaichi Electronics Company, Ltd. | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21828 |
| YA-MAN, Ltd. | &nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18565 |
| Yamato Kogyo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30654 |
| Yamazen Corp. | &nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29548 |
| Yaoko Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41194 |
| Yasuda Logistics Corp. | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9838 |
| Yellow Hat, Ltd. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27238 |
| Yodogawa Steel Works, Ltd. | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23065 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29841 |
| Yokorei Company, Ltd. | &nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23556 |
| Yokowo Company, Ltd. | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19607 |
| Yomeishu Seizo Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6868 |
| Yondenko Corp. | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15827 |
| Yondoshi Holdings, Inc. | &nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17214 |
| Yonex Company, Ltd. | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18956 |
| Yorozu Corp. | &nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9430 |
| Yoshinoya Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34832 |
| Yuasa Trading Company, Ltd. | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30197 |
| Yukiguni Maitake Company, Ltd. | &nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7656 |
| Yurtec Corp. | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11126 |
| Yushiro Chemical Industry Company, Ltd. | &nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6555 |
| Zenrin Company, Ltd. | &nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12203 |
| ZERIA Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20596 |
| ZIGExN Company, Ltd. | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19771 |
|  |  | 24185148 |
| **Jersey, Channel Islands - 0.1%** |  |  |
| Breedon Group PLC | &nbsp;&nbsp;43130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31759 |
| Centamin PLC | &nbsp;&nbsp;57981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;110992 |
| **Liechtenstein - 0.1%** |  |  |
| Liechtensteinische Landesbank AG | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43754 |
| VP Bank AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61582 |
| **Luxembourg - 0.5%** |  |  |
| ADLER Group SA (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114 |
| APERAM SA | &nbsp;&nbsp;&nbsp;2512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79664 |
| B&S Group Sarl (C) | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5085 |
| Befesa SA (C) | &nbsp;&nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86299 |
| d'Amico International Shipping SA (A) | 100767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40228 |
| Global Fashion Group SA (A) | &nbsp;&nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166 |
| Grand City Properties SA | &nbsp;&nbsp;&nbsp;3748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36864 |
| IVS Group SA | &nbsp;&nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8247 |
| L'Occitane International SA | &nbsp;&nbsp;10750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33431 |
| RTL Group SA | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10150 |
| SES SA | &nbsp;&nbsp;17911 | &nbsp;&nbsp;&nbsp;&nbsp;116668 |
| Shurgard Self Storage SA | &nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49798 |
| Sword Group | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11720 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;481434 |
| **Macau - 0.0%** |  |  |
| MECOM Power and Construction, Ltd. | &nbsp;&nbsp;58500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14711 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Malaysia - 0.0%** |  |  |
| Aspen Group Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;626 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Frencken Group, Ltd. | 15400 | &nbsp;&nbsp;&nbsp;&nbsp;10883 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10903 |
| **Malta - 0.0%** |  |  |
| Catena Media PLC (A) | &nbsp;&nbsp;3412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6245 |
| **Mauritius - 0.0%** |  |  |
| Capital, Ltd. | &nbsp;&nbsp;9014 | &nbsp;&nbsp;&nbsp;&nbsp;10563 |
| **Netherlands - 1.8%** |  |  |
| Aalberts NV | &nbsp;&nbsp;3992 | &nbsp;&nbsp;&nbsp;&nbsp;155497 |
| Acomo NV | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;17855 |
| Alfen Beheer BV (A)(C) | &nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;96785 |
| AMG Advanced Metallurgical Group NV | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;49898 |
| Arcadis NV | &nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp;119332 |
| ASR Nederland NV | &nbsp;&nbsp;2019 | &nbsp;&nbsp;&nbsp;&nbsp;95930 |
| Basic-Fit NV (A)(C) | &nbsp;&nbsp;2099 | &nbsp;&nbsp;&nbsp;&nbsp;55207 |
| BE Semiconductor Industries NV | &nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;&nbsp;178008 |
| Beter Bed Holding NV | &nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206 |
| Brack Capital Properties NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;23709 |
| Brunel International NV | &nbsp;&nbsp;1126 | &nbsp;&nbsp;&nbsp;&nbsp;11561 |
| Corbion NV | &nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp;84602 |
| CTP NV (C) | &nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;34064 |
| Flow Traders (C) | &nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp;37813 |
| ForFarmers NV | &nbsp;&nbsp;2398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528 |
| Fugro NV (A) | &nbsp;&nbsp;3784 | &nbsp;&nbsp;&nbsp;&nbsp;45431 |
| Heijmans NV | &nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;24694 |
| Innoconcepts NV (A)(B) | 10527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Kendrion NV | &nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp;18493 |
| Koninklijke BAM Groep NV (A) | 15496 | &nbsp;&nbsp;&nbsp;&nbsp;36066 |
| Koninklijke Vopak NV | &nbsp;&nbsp;2374 | &nbsp;&nbsp;&nbsp;&nbsp;70618 |
| Nedap NV | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;13258 |
| OCI NV | &nbsp;&nbsp;2846 | &nbsp;&nbsp;&nbsp;&nbsp;101751 |
| Ordina NV | &nbsp;&nbsp;5537 | &nbsp;&nbsp;&nbsp;&nbsp;23016 |
| Pharming Group NV (A) | 30666 | &nbsp;&nbsp;&nbsp;&nbsp;35698 |
| PostNL NV | 15122 | &nbsp;&nbsp;&nbsp;&nbsp;27574 |
| PPHE Hotel Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8966 |
| SBM Offshore NV | &nbsp;&nbsp;5505 | &nbsp;&nbsp;&nbsp;&nbsp;86609 |
| Shop Apotheke Europe NV (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9154 |
| SIF Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6257 |
| Signify NV (C) | &nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;175550 |
| Sligro Food Group NV | &nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;20025 |
| TKH Group NV | &nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp;48383 |
| TomTom NV (A) | &nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;22710 |
| Van Lanschot Kempen NV | &nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp;35563 |
|  |  | 1780811 |
| **New Zealand - 0.5%** |  |  |
| Air New Zealand, Ltd. (A) | 37974 | &nbsp;&nbsp;&nbsp;&nbsp;17903 |
| Arvida Group, Ltd. | 12868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9309 |
| Channel Infrastructure NZ, Ltd. (A) | 11354 | &nbsp;&nbsp;&nbsp;&nbsp;10313 |
| Chorus, Ltd. | 15977 | &nbsp;&nbsp;&nbsp;&nbsp;82742 |
| Delegat Group, Ltd. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7755 |
| Freightways, Ltd. | &nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;34002 |
| Gentrack Group, Ltd. (A) | &nbsp;&nbsp;3060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885 |
| Hallenstein Glasson Holdings, Ltd. | &nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp;11579 |
| Heartland Group Holdings, Ltd. | 21397 | &nbsp;&nbsp;&nbsp;&nbsp;24450 |
| Investore Property, Ltd. | 13816 | &nbsp;&nbsp;&nbsp;&nbsp;13143 |
| KMD Brands, Ltd. | 25838 | &nbsp;&nbsp;&nbsp;&nbsp;16877 |
| Manawa Energy, Ltd. | &nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 |
| NZME, Ltd. | 13259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9817 |
| NZX, Ltd. | 16287 | &nbsp;&nbsp;&nbsp;&nbsp;12506 |
| Oceania Healthcare, Ltd. | 41229 | &nbsp;&nbsp;&nbsp;&nbsp;19885 |
| Pacific Edge, Ltd. (A) | 27936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8871 |
| PGG Wrightson, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2271 |
| Pushpay Holdings, Ltd. (A) | 29513 | &nbsp;&nbsp;&nbsp;&nbsp;23981 |
| Restaurant Brands New Zealand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3232 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **New Zealand (continued)** |  |  |
| Sanford, Ltd. | &nbsp;&nbsp;2767 | $&nbsp;&nbsp;&nbsp;&nbsp;7200 |
| Scales Corp., Ltd. | &nbsp;&nbsp;5176 | &nbsp;&nbsp;&nbsp;13473 |
| Serko, Ltd. (A) | &nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;4041 |
| Skellerup Holdings, Ltd. | &nbsp;&nbsp;7637 | &nbsp;&nbsp;&nbsp;25937 |
| SKY Network Television, Ltd. | &nbsp;&nbsp;6265 | &nbsp;&nbsp;&nbsp;&nbsp;9129 |
| SKYCITY Entertainment Group, Ltd. (A) | 20410 | &nbsp;&nbsp;&nbsp;30687 |
| Summerset Group Holdings, Ltd. | &nbsp;&nbsp;3595 | &nbsp;&nbsp;&nbsp;20192 |
| Synlait Milk, Ltd. (A) | &nbsp;&nbsp;5495 | &nbsp;&nbsp;&nbsp;12334 |
| The Warehouse Group, Ltd. | &nbsp;&nbsp;9894 | &nbsp;&nbsp;&nbsp;16326 |
| Tourism Holdings, Ltd. (A) | &nbsp;&nbsp;6508 | &nbsp;&nbsp;&nbsp;14304 |
| TOWER, Ltd. | 11445 | &nbsp;&nbsp;&nbsp;&nbsp;5265 |
| Vista Group International, Ltd. (A) | &nbsp;&nbsp;7682 | &nbsp;&nbsp;&nbsp;&nbsp;7403 |
|  |  | 485102 |
| **Norway - 0.9%** |  |  |
| ABG Sundal Collier Holding ASA | 24237 | &nbsp;&nbsp;&nbsp;13922 |
| Akastor ASA | &nbsp;&nbsp;6104 | &nbsp;&nbsp;&nbsp;&nbsp;5714 |
| Aker Carbon Capture ASA (A) | &nbsp;&nbsp;4495 | &nbsp;&nbsp;&nbsp;&nbsp;5276 |
| AMSC ASA (A) | &nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;7367 |
| ArcticZymes Technologies ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;7031 |
| Atea ASA (A) | &nbsp;&nbsp;3574 | &nbsp;&nbsp;&nbsp;41699 |
| Axactor ASA (A) | 14729 | &nbsp;&nbsp;&nbsp;&nbsp;8894 |
| B2Holding ASA | 23929 | &nbsp;&nbsp;&nbsp;19031 |
| Belships ASA | 10010 | &nbsp;&nbsp;&nbsp;14689 |
| Bonheur ASA | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;41486 |
| Borregaard ASA | &nbsp;&nbsp;3051 | &nbsp;&nbsp;&nbsp;47292 |
| Bouvet ASA | &nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;18400 |
| BW Offshore, Ltd. | &nbsp;&nbsp;4568 | &nbsp;&nbsp;&nbsp;11590 |
| Cloudberry Clean Energy ASA (A) | &nbsp;&nbsp;5431 | &nbsp;&nbsp;&nbsp;&nbsp;6893 |
| Crayon Group Holding ASA (A)(C) | &nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;20401 |
| DNO ASA | 18710 | &nbsp;&nbsp;&nbsp;22561 |
| Europris ASA (C) | &nbsp;&nbsp;8327 | &nbsp;&nbsp;&nbsp;58332 |
| FLEX LNG, Ltd. | &nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;51416 |
| Grieg Seafood ASA | &nbsp;&nbsp;2264 | &nbsp;&nbsp;&nbsp;18071 |
| Hexagon Composites ASA (A) | &nbsp;&nbsp;6450 | &nbsp;&nbsp;&nbsp;17870 |
| IDEX Biometrics ASA (A) | 19564 | &nbsp;&nbsp;&nbsp;&nbsp;2002 |
| Kahoot! ASA (A) | &nbsp;&nbsp;8215 | &nbsp;&nbsp;&nbsp;16394 |
| Kid ASA (C) | &nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;8316 |
| Kitron ASA | &nbsp;&nbsp;9158 | &nbsp;&nbsp;&nbsp;26056 |
| LINK Mobility Group Holding ASA (A) | &nbsp;&nbsp;7126 | &nbsp;&nbsp;&nbsp;&nbsp;5504 |
| Medistim ASA | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;8403 |
| MPC Container Ships ASA | 15398 | &nbsp;&nbsp;&nbsp;25397 |
| Multiconsult ASA (C) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;7760 |
| Norske Skog ASA (A)(C) | &nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;12488 |
| Norwegian Air Shuttle ASA (A) | 11101 | &nbsp;&nbsp;&nbsp;&nbsp;8262 |
| Norwegian Energy Company ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;36909 |
| Odfjell Drilling, Ltd. (A) | &nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;13489 |
| Otello Corp. ASA | &nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| Panoro Energy ASA (A) | &nbsp;&nbsp;3699 | &nbsp;&nbsp;&nbsp;10679 |
| Pareto Bank ASA | &nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;7108 |
| PGS ASA (A) | 22374 | &nbsp;&nbsp;&nbsp;16296 |
| PhotoCure ASA (A) | &nbsp;&nbsp;2625 | &nbsp;&nbsp;&nbsp;28564 |
| PoLight ASA (A)(C) | &nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp;4903 |
| Protector Forsikring ASA | &nbsp;&nbsp;3316 | &nbsp;&nbsp;&nbsp;42433 |
| Scatec ASA (C) | &nbsp;&nbsp;3642 | &nbsp;&nbsp;&nbsp;29301 |
| Self Storage Group ASA (A) | &nbsp;&nbsp;2940 | &nbsp;&nbsp;&nbsp;&nbsp;7293 |
| Selvaag Bolig ASA | &nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;6030 |
| Sparebank 1 Oestlandet | &nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp;9345 |
| SpareBank 1 Sorost-Norge | &nbsp;&nbsp;4392 | &nbsp;&nbsp;&nbsp;24595 |
| Sparebanken More | &nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;10614 |
| Treasure ASA | &nbsp;&nbsp;3110 | &nbsp;&nbsp;&nbsp;&nbsp;5632 |
| Ultimovacs ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;6544 |
| Veidekke ASA | &nbsp;&nbsp;5117 | &nbsp;&nbsp;&nbsp;50341 |
| Volue ASA (A) | &nbsp;&nbsp;3279 | &nbsp;&nbsp;&nbsp;&nbsp;9381 |
| Wilh Wilhelmsen Holding ASA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;862 | &nbsp;&nbsp;&nbsp;23932 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Norway (continued)** |  |  |
| XXL ASA (C) | &nbsp;&nbsp;&nbsp;&nbsp;4462 | $&nbsp;&nbsp;&nbsp;&nbsp;1726 |
|  |  | 903659 |
| **Peru - 0.0%** |  |  |
| Hochschild Mining PLC | &nbsp;&nbsp;&nbsp;&nbsp;16530 | &nbsp;&nbsp;&nbsp;14051 |
| **Portugal - 0.3%** |  |  |
| Altri SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;6511 | &nbsp;&nbsp;&nbsp;34847 |
| Banco Comercial Portugues SA | &nbsp;&nbsp;308962 | &nbsp;&nbsp;&nbsp;48460 |
| Corticeira Amorim SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;19612 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp;&nbsp;&nbsp;8914 | &nbsp;&nbsp;&nbsp;29482 |
| Greenvolt-Energias Renovaveis SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;14094 |
| Mota-Engil SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;5636 | &nbsp;&nbsp;&nbsp;&nbsp;7054 |
| NOS SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;10693 | &nbsp;&nbsp;&nbsp;43260 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;21605 | &nbsp;&nbsp;&nbsp;58293 |
| Sonae SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;34734 | &nbsp;&nbsp;&nbsp;34797 |
| The Navigator Company SA | &nbsp;&nbsp;&nbsp;&nbsp;12847 | &nbsp;&nbsp;&nbsp;47500 |
|  |  | 337399 |
| **Singapore - 1.2%** |  |  |
| Accordia Golf Trust (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;40300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| AEM Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;23267 |
| Banyan Tree Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;4725 |
| Best World International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3974 | &nbsp;&nbsp;&nbsp;&nbsp;5281 |
| Boustead Projects, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;1844 |
| Boustead Singapore, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;6009 |
| Bukit Sembawang Estates, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;37799 |
| BW Energy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;2745 |
| BW LPG, Ltd. (C) | &nbsp;&nbsp;&nbsp;&nbsp;4059 | &nbsp;&nbsp;&nbsp;31468 |
| Capitaland India Trust | &nbsp;&nbsp;&nbsp;&nbsp;45100 | &nbsp;&nbsp;&nbsp;38042 |
| China Aviation Oil Singapore Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;9570 |
| Chip Eng Seng Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;18492 |
| ComfortDelGro Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;90100 | &nbsp;&nbsp;&nbsp;82745 |
| COSCO Shipping International Singapore Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;58900 | &nbsp;&nbsp;&nbsp;&nbsp;7872 |
| CSE Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;8625 |
| Delfi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21900 | &nbsp;&nbsp;&nbsp;12660 |
| Ezion Holdings, Ltd. (A)(B) | &nbsp;&nbsp;131300 | &nbsp;&nbsp;&nbsp;&nbsp;4215 |
| Far East Orchard, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5140 | &nbsp;&nbsp;&nbsp;&nbsp;4021 |
| First Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19300 | &nbsp;&nbsp;&nbsp;21375 |
| Fraser and Neave, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;8161 |
| Gallant Venture, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;&nbsp;6846 |
| Golden Agri-Resources, Ltd. | &nbsp;&nbsp;183600 | &nbsp;&nbsp;&nbsp;34265 |
| Golden Energy & Resources, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;45100 | &nbsp;&nbsp;&nbsp;26479 |
| GuocoLand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;12577 |
| Halcyon Agri Corp., Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4293 | &nbsp;&nbsp;&nbsp;&nbsp;1262 |
| Haw Par Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;33623 |
| Ho Bee Land, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;20688 |
| Hong Fok Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;14256 |
| Hong Leong Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;23034 |
| Hyflux, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| iFAST Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;30539 |
| IGG, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;14059 |
| Indofood Agri Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;5698 |
| Japfa, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp;5850 |
| Keppel Infrastructure Trust | &nbsp;&nbsp;157190 | &nbsp;&nbsp;&nbsp;63404 |
| Metro Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31600 | &nbsp;&nbsp;&nbsp;14978 |
| Midas Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;10479 |
| Nanofilm Technologies International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;6754 |
| NetLink NBN Trust | &nbsp;&nbsp;&nbsp;&nbsp;91100 | &nbsp;&nbsp;&nbsp;56461 |
| Oceanus Group, Ltd. (A) | 1035500 | &nbsp;&nbsp;&nbsp;11614 |
| OM Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10791 | &nbsp;&nbsp;&nbsp;&nbsp;5212 |
| OUE, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;10356 |
| Oxley Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27222 | &nbsp;&nbsp;&nbsp;&nbsp;2944 |
| Raffles Medical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35758 | &nbsp;&nbsp;&nbsp;37376 |
| SATS, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25100 | &nbsp;&nbsp;&nbsp;53203 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Singapore (continued)** |  |  |
| SBS Transit, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9634 |
| Sembcorp Marine, Ltd. (A) | &nbsp;&nbsp;510500 | &nbsp;&nbsp;&nbsp;&nbsp;52678 |
| Sheng Siong Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29900 | &nbsp;&nbsp;&nbsp;&nbsp;36797 |
| SIA Engineering Company, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;22356 |
| SIIC Environment Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4933 |
| Sinarmas Land, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;94200 | &nbsp;&nbsp;&nbsp;&nbsp;12635 |
| Singapore Land Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;11895 |
| Singapore Post, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp;&nbsp;&nbsp;25657 |
| Stamford Land Corp., Ltd. | &nbsp;&nbsp;113744 | &nbsp;&nbsp;&nbsp;&nbsp;29357 |
| StarHub, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;&nbsp;19883 |
| Straits Trading Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2464 |
| Swiber Holdings, Ltd. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 |
| The Hour Glass, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp;15370 |
| Thomson Medical Group, Ltd. | &nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;12347 |
| UMS Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36400 | &nbsp;&nbsp;&nbsp;&nbsp;32065 |
| UOB-Kay Hian Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15918 | &nbsp;&nbsp;&nbsp;&nbsp;16393 |
| Venture Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;22943 |
| Wing Tai Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21205 | &nbsp;&nbsp;&nbsp;&nbsp;23730 |
| XP Power, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;20140 |
| Yeo Hiap Seng, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554 |
|  |  | 1203436 |
| **South Africa - 0.1%** |  |  |
| Mediclinic International PLC | &nbsp;&nbsp;&nbsp;&nbsp;22882 | &nbsp;&nbsp;&nbsp;&nbsp;136991 |
| **Spain - 2.4%** |  |  |
| Acerinox SA | &nbsp;&nbsp;&nbsp;&nbsp;9313 | &nbsp;&nbsp;&nbsp;&nbsp;92062 |
| Aedas Homes SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293 |
| Alantra Partners SA | &nbsp;&nbsp;&nbsp;&nbsp;1181 | &nbsp;&nbsp;&nbsp;&nbsp;15229 |
| Almirall SA | &nbsp;&nbsp;&nbsp;&nbsp;4221 | &nbsp;&nbsp;&nbsp;&nbsp;40814 |
| Amper SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;82546 | &nbsp;&nbsp;&nbsp;&nbsp;13158 |
| Applus Services SA | &nbsp;&nbsp;&nbsp;&nbsp;6225 | &nbsp;&nbsp;&nbsp;&nbsp;42854 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp;&nbsp;&nbsp;6046 | &nbsp;&nbsp;&nbsp;&nbsp;20655 |
| Banco de Sabadell SA | &nbsp;&nbsp;287776 | &nbsp;&nbsp;&nbsp;&nbsp;270498 |
| Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp;32551 | &nbsp;&nbsp;&nbsp;&nbsp;218076 |
| Caja de Ahorros del Mediterraneo (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;5428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Cia de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;3649 | &nbsp;&nbsp;&nbsp;&nbsp;92015 |
| CIE Automotive SA | &nbsp;&nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp;47055 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp;&nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;32305 |
| Distribuidora Internacional de Alimentacion SA (A) | 1566729 | &nbsp;&nbsp;&nbsp;&nbsp;21243 |
| Ebro Foods SA | &nbsp;&nbsp;&nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp;31501 |
| eDreams ODIGEO SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;4905 | &nbsp;&nbsp;&nbsp;&nbsp;20706 |
| Elecnor SA | &nbsp;&nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp;23017 |
| Enagas SA | &nbsp;&nbsp;&nbsp;&nbsp;11699 | &nbsp;&nbsp;&nbsp;&nbsp;194536 |
| Ence Energia y Celulosa SA | &nbsp;&nbsp;&nbsp;&nbsp;6294 | &nbsp;&nbsp;&nbsp;&nbsp;18934 |
| Ercros SA | &nbsp;&nbsp;&nbsp;&nbsp;5006 | &nbsp;&nbsp;&nbsp;&nbsp;17360 |
| Faes Farma SA | &nbsp;&nbsp;&nbsp;&nbsp;16334 | &nbsp;&nbsp;&nbsp;&nbsp;61377 |
| Fluidra SA | &nbsp;&nbsp;&nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp;46009 |
| Fomento de Construcciones y Contratas SA | &nbsp;&nbsp;&nbsp;&nbsp;2450 | &nbsp;&nbsp;&nbsp;&nbsp;23155 |
| Gestamp Automocion SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;7287 | &nbsp;&nbsp;&nbsp;&nbsp;28136 |
| Global Dominion Access SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;5439 | &nbsp;&nbsp;&nbsp;&nbsp;20939 |
| Grenergy Renovables SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;16981 |
| Grupo Catalana Occidente SA | &nbsp;&nbsp;&nbsp;&nbsp;2346 | &nbsp;&nbsp;&nbsp;&nbsp;74127 |
| Grupo Empresarial San Jose SA | &nbsp;&nbsp;&nbsp;&nbsp;2194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9328 |
| Iberpapel Gestion SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934 |
| Indra Sistemas SA | &nbsp;&nbsp;&nbsp;&nbsp;6513 | &nbsp;&nbsp;&nbsp;&nbsp;74241 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;38147 |
| Linea Directa Aseguradora SA Cia de Seguros y Reaseguros | &nbsp;&nbsp;&nbsp;&nbsp;27501 | &nbsp;&nbsp;&nbsp;&nbsp;30365 |
| Mapfre SA | &nbsp;&nbsp;&nbsp;&nbsp;47388 | &nbsp;&nbsp;&nbsp;&nbsp;91672 |
| Melia Hotels International SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;4842 | &nbsp;&nbsp;&nbsp;&nbsp;23705 |
| Miquel y Costas & Miquel SA | &nbsp;&nbsp;&nbsp;&nbsp;2010 | &nbsp;&nbsp;&nbsp;&nbsp;25123 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Spain (continued)** |  |  |
| Neinor Homes SA (A)(C) | &nbsp;&nbsp;1978 | $&nbsp;&nbsp;&nbsp;&nbsp;17287 |
| Obrascon Huarte Lain SA (A) | 19608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9394 |
| Pharma Mar SA | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;28171 |
| Promotora de Informaciones SA, Class A (A) | 11711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3538 |
| Prosegur Cash SA (C) | 35886 | &nbsp;&nbsp;&nbsp;&nbsp;23024 |
| Prosegur Cia de Seguridad SA | 10114 | &nbsp;&nbsp;&nbsp;&nbsp;19184 |
| Realia Business SA (A) | 17710 | &nbsp;&nbsp;&nbsp;&nbsp;20302 |
| Sacyr SA | 23307 | &nbsp;&nbsp;&nbsp;&nbsp;64762 |
| Solaria Energia y Medio Ambiente SA (A) | &nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;48323 |
| Soltec Power Holdings SA (A) | &nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9286 |
| Talgo SA (C) | &nbsp;&nbsp;4803 | &nbsp;&nbsp;&nbsp;&nbsp;16978 |
| Tecnicas Reunidas SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8102 |
| Tubacex SA (A) | &nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;13376 |
| Unicaja Banco SA (C) | 62819 | &nbsp;&nbsp;&nbsp;&nbsp;69219 |
| Vidrala SA | &nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;74590 |
| Viscofan SA | &nbsp;&nbsp;1837 | &nbsp;&nbsp;&nbsp;&nbsp;118317 |
|  |  | 2326403 |
| **Sweden - 2.7%** |  |  |
| AcadeMedia AB (C) | &nbsp;&nbsp;3665 | &nbsp;&nbsp;&nbsp;&nbsp;15654 |
| AddLife AB, B Shares | &nbsp;&nbsp;2462 | &nbsp;&nbsp;&nbsp;&nbsp;25744 |
| AddNode Group AB | &nbsp;&nbsp;5860 | &nbsp;&nbsp;&nbsp;&nbsp;55340 |
| AFRY AB | &nbsp;&nbsp;3213 | &nbsp;&nbsp;&nbsp;&nbsp;52680 |
| Alimak Group AB (C) | &nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;15304 |
| Alligo AB, Class B | &nbsp;&nbsp;2270 | &nbsp;&nbsp;&nbsp;&nbsp;17195 |
| Ambea AB (C) | &nbsp;&nbsp;5569 | &nbsp;&nbsp;&nbsp;&nbsp;23463 |
| Annehem Fastigheter AB, B Shares (A) | &nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2192 |
| AQ Group AB | &nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8642 |
| Arise AB (A) | &nbsp;&nbsp;2614 | &nbsp;&nbsp;&nbsp;&nbsp;12592 |
| Arjo AB, B Shares | 10690 | &nbsp;&nbsp;&nbsp;&nbsp;40022 |
| Atrium Ljungberg AB, B Shares | &nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;17317 |
| Attendo AB (A)(C) | &nbsp;&nbsp;5286 | &nbsp;&nbsp;&nbsp;&nbsp;12269 |
| Balco Group AB | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2794 |
| Beijer Alma AB | &nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;&nbsp;37536 |
| Bergman & Beving AB | &nbsp;&nbsp;2270 | &nbsp;&nbsp;&nbsp;&nbsp;24195 |
| Betsson AB, Class B (A) | &nbsp;&nbsp;5105 | &nbsp;&nbsp;&nbsp;&nbsp;41492 |
| BHG Group AB (A) | &nbsp;&nbsp;2406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4297 |
| Bilia AB, A Shares | &nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;26461 |
| BioInvent International AB (A) | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6914 |
| Biotage AB | &nbsp;&nbsp;2541 | &nbsp;&nbsp;&nbsp;&nbsp;45292 |
| Bonava AB, B Shares | &nbsp;&nbsp;3323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9406 |
| Boozt AB (A)(C) | &nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;23518 |
| Bravida Holding AB (C) | &nbsp;&nbsp;5093 | &nbsp;&nbsp;&nbsp;&nbsp;54588 |
| BTS Group AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9665 |
| Bufab AB | &nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;32769 |
| Bulten AB | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090 |
| Bure Equity AB | &nbsp;&nbsp;2057 | &nbsp;&nbsp;&nbsp;&nbsp;48640 |
| Byggmax Group AB | &nbsp;&nbsp;5363 | &nbsp;&nbsp;&nbsp;&nbsp;25578 |
| Catella AB | &nbsp;&nbsp;2217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7743 |
| Catena AB | &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;53377 |
| Cellavision AB | &nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;21943 |
| Cibus Nordic Real Estate AB | &nbsp;&nbsp;1681 | &nbsp;&nbsp;&nbsp;&nbsp;23121 |
| Clas Ohlson AB, B Shares | &nbsp;&nbsp;3185 | &nbsp;&nbsp;&nbsp;&nbsp;21975 |
| Cloetta AB, B Shares | 10640 | &nbsp;&nbsp;&nbsp;&nbsp;21270 |
| Collector Bank AB (A) | &nbsp;&nbsp;6015 | &nbsp;&nbsp;&nbsp;&nbsp;22127 |
| Coor Service Management Holding AB (C) | &nbsp;&nbsp;5027 | &nbsp;&nbsp;&nbsp;&nbsp;30975 |
| Corem Property Group AB, B Shares | 14214 | &nbsp;&nbsp;&nbsp;&nbsp;11462 |
| Corem Property Group AB, D Shares | &nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6671 |
| CTT Systems AB | &nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;11629 |
| Dios Fastigheter AB | &nbsp;&nbsp;3582 | &nbsp;&nbsp;&nbsp;&nbsp;25912 |
| Doro AB (A) | &nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260 |
| Duni AB (A) | &nbsp;&nbsp;2559 | &nbsp;&nbsp;&nbsp;&nbsp;21140 |
| Dustin Group AB (A)(C) | &nbsp;&nbsp;4979 | &nbsp;&nbsp;&nbsp;&nbsp;19731 |
| Elanders AB, B Shares | &nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;&nbsp;21089 |
| Electrolux Professional AB, B Shares | &nbsp;&nbsp;9620 | &nbsp;&nbsp;&nbsp;&nbsp;40395 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Sweden (continued)** |  |  |
| Enea AB (A) | &nbsp;&nbsp;1522 | $12581 |
| Fagerhult AB | &nbsp;&nbsp;4609 | 17888 |
| Fastighets AB Trianon | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;2895 |
| FastPartner AB, A Shares | &nbsp;&nbsp;2697 | 18452 |
| Ferronordic AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;2331 |
| Fingerprint Cards AB, B Shares (A) | 16071 | &nbsp;&nbsp;&nbsp;4547 |
| G5 Entertainment AB | &nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;6671 |
| GARO AB | &nbsp;&nbsp;1737 | 18065 |
| Granges AB | &nbsp;&nbsp;7040 | 57657 |
| Green Landscaping Group AB (A)(C) | &nbsp;&nbsp;1593 | &nbsp;&nbsp;&nbsp;9702 |
| Heba Fastighets AB, Class B | &nbsp;&nbsp;4570 | 15906 |
| HMS Networks AB | &nbsp;&nbsp;&nbsp;&nbsp;884 | 28791 |
| Hoist Finance AB (A)(C) | &nbsp;&nbsp;2083 | &nbsp;&nbsp;&nbsp;5894 |
| Humana AB (A) | &nbsp;&nbsp;2641 | &nbsp;&nbsp;&nbsp;9717 |
| Instalco AB | &nbsp;&nbsp;7730 | 29408 |
| Inwido AB | &nbsp;&nbsp;3126 | 33263 |
| JM AB | &nbsp;&nbsp;2484 | 41046 |
| Karnov Group AB (A) | &nbsp;&nbsp;3501 | 19627 |
| K-fast Holding AB (A) | &nbsp;&nbsp;1142 | &nbsp;&nbsp;&nbsp;2585 |
| KNOW IT AB | &nbsp;&nbsp;1459 | 28506 |
| Lagercrantz Group AB, B Shares | &nbsp;&nbsp;8511 | 84309 |
| Lime Technologies AB | &nbsp;&nbsp;&nbsp;&nbsp;558 | 12311 |
| Lindab International AB | &nbsp;&nbsp;4565 | 55833 |
| Loomis AB | &nbsp;&nbsp;2786 | 76364 |
| MEKO AB | &nbsp;&nbsp;2150 | 23183 |
| MIPS AB | &nbsp;&nbsp;1182 | 48859 |
| Modern Times Group MTG AB, B Shares (A) | &nbsp;&nbsp;2851 | 24394 |
| Momentum Group AB (A) | &nbsp;&nbsp;2270 | 12724 |
| Munters Group AB (C) | &nbsp;&nbsp;5993 | 59083 |
| Mycronic AB | &nbsp;&nbsp;4062 | 76443 |
| NCAB Group AB | &nbsp;&nbsp;4318 | 26979 |
| NCC AB, B Shares | &nbsp;&nbsp;3723 | 34790 |
| Nederman Holding AB | &nbsp;&nbsp;&nbsp;&nbsp;887 | 14704 |
| Net Insight AB, B Shares (A) | 16550 | &nbsp;&nbsp;&nbsp;9608 |
| New Wave Group AB, B Shares | &nbsp;&nbsp;4353 | 86152 |
| Nobia AB | &nbsp;&nbsp;6676 | 13618 |
| Nolato AB, B Shares | &nbsp;&nbsp;6748 | 35379 |
| Nordic Paper Holding AB | &nbsp;&nbsp;2488 | &nbsp;&nbsp;&nbsp;7885 |
| Nordic Waterproofing Holding AB | &nbsp;&nbsp;2002 | 27938 |
| Note AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;776 | 13305 |
| NP3 Fastigheter AB | &nbsp;&nbsp;1683 | 32081 |
| Nyfosa AB | &nbsp;&nbsp;5830 | 45141 |
| OEM International AB, B Shares | &nbsp;&nbsp;4726 | 32772 |
| Orron Energy AB | &nbsp;&nbsp;7422 | 16042 |
| Platzer Fastigheter Holding AB, Series B | &nbsp;&nbsp;3454 | 27265 |
| Pricer AB, B Shares | &nbsp;&nbsp;7930 | 12438 |
| Proact IT Group AB | &nbsp;&nbsp;1428 | 11371 |
| Ratos AB, B Shares | &nbsp;&nbsp;8255 | 32863 |
| RaySearch Laboratories AB (A) | &nbsp;&nbsp;2452 | 15980 |
| Resurs Holding AB (C) | &nbsp;&nbsp;6236 | 14909 |
| Scandi Standard AB (A) | &nbsp;&nbsp;4648 | 21801 |
| Scandic Hotels Group AB (A)(C) | &nbsp;&nbsp;5932 | 18345 |
| Sdiptech AB, Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;6068 |
| Sensys Gatso Group AB (A) | 23414 | &nbsp;&nbsp;&nbsp;2241 |
| SkiStar AB | &nbsp;&nbsp;2041 | 21727 |
| Solid Forsakring AB (A) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;3934 |
| Stendorren Fastigheter AB (A) | &nbsp;&nbsp;1288 | 23726 |
| Stillfront Group AB (A) | 19809 | 33366 |
| Systemair AB | &nbsp;&nbsp;6526 | 44947 |
| Tethys Oil AB | &nbsp;&nbsp;2334 | 13540 |
| Troax Group AB | &nbsp;&nbsp;1308 | 22911 |
| VBG Group AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;8451 |
| Vitec Software Group AB, B Shares | &nbsp;&nbsp;1147 | 46070 |
| Volati AB | &nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;6573 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Sweden (continued)** |  |  |
| XANO Industri AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;694 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7390 |
|  |  | 2690814 |
| **Switzerland - 7.3%** |  |  |
| Adecco Group AG | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;30296 |
| Allreal Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;104547 |
| ALSO Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;59469 |
| Aluflexpack AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;549 | &nbsp;&nbsp;&nbsp;&nbsp;10495 |
| APG SGA SA | &nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;14607 |
| Arbonia AG | &nbsp;&nbsp;2962 | &nbsp;&nbsp;&nbsp;&nbsp;41721 |
| Aryzta AG (A) | 57916 | &nbsp;&nbsp;&nbsp;&nbsp;69175 |
| Ascom Holding AG | &nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;&nbsp;10537 |
| Autoneum Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;24363 |
| Baloise Holding AG | &nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;284940 |
| Banque Cantonale de Geneve, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp;27575 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;125503 |
| Basilea Pharmaceutica AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;12631 |
| Belimo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;259530 |
| Bell Food Group AG | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;35544 |
| Bellevue Group AG | &nbsp;&nbsp;&nbsp;&nbsp;467 | &nbsp;&nbsp;&nbsp;&nbsp;18903 |
| Berner Kantonalbank AG | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;69498 |
| BKW AG | &nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp;173492 |
| Bossard Holding AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;53591 |
| Bucher Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;149404 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;111390 |
| Burkhalter Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp;33043 |
| Bystronic AG | &nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;51261 |
| Calida Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;14564 |
| Carlo Gavazzi Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;12379 |
| Cembra Money Bank AG | &nbsp;&nbsp;1741 | &nbsp;&nbsp;&nbsp;&nbsp;144492 |
| Cie Financiere Tradition SA, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;11810 |
| Clariant AG (A) | &nbsp;&nbsp;9918 | &nbsp;&nbsp;&nbsp;&nbsp;157512 |
| Coltene Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;16320 |
| Comet Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;&nbsp;&nbsp;72079 |
| Daetwyler Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;56036 |
| DKSH Holding AG | &nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;&nbsp;123229 |
| dormakaba Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;65256 |
| Dufry AG (A) | &nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;160325 |
| EFG International AG (A) | &nbsp;&nbsp;4687 | &nbsp;&nbsp;&nbsp;&nbsp;44783 |
| Emmi AG | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;72816 |
| Energiedienst Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;979 | &nbsp;&nbsp;&nbsp;&nbsp;47446 |
| Evolva Holding SA (A) | 72989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6475 |
| Feintool International Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9297 |
| Fenix Outdoor International AG | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;18377 |
| Ferrexpo PLC | &nbsp;&nbsp;8469 | &nbsp;&nbsp;&nbsp;&nbsp;15997 |
| Flughafen Zurich AG (A) | &nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;165882 |
| Forbo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;45831 |
| Fundamenta Real Estate AG (A) | &nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp;27242 |
| Galenica AG (C) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;196143 |
| GAM Holding AG (A) | 11204 | &nbsp;&nbsp;&nbsp;&nbsp;11397 |
| Georg Fischer AG | &nbsp;&nbsp;3955 | &nbsp;&nbsp;&nbsp;&nbsp;242292 |
| Gurit Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;21367 |
| Helvetia Holding AG | &nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;208987 |
| Hiag Immobilien Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;28821 |
| HOCHDORF Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368 |
| Huber + Suhner AG | &nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp;97358 |
| Hypothekarbank Lenzburg AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;13316 |
| Implenia AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;41005 |
| Ina Invest Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4237 |
| Inficon Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;59541 |
| Interroll Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;76251 |
| Intershop Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;35184 |
| Investis Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;17586 |
| IWG PLC (A) | 29637 | &nbsp;&nbsp;&nbsp;&nbsp;59215 |
| Jungfraubahn Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;36067 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Switzerland (continued)** |  |  |
| Kardex Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;299 | $&nbsp;&nbsp;&nbsp;&nbsp;49090 |
| Komax Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;63708 |
| Kongsberg Automotive ASA (A) | &nbsp;&nbsp;23611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6067 |
| Kudelski SA, Bearer Shares | &nbsp;&nbsp;&nbsp;2497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6420 |
| Landis+Gyr Group AG (A) | &nbsp;&nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp;92309 |
| LEM Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;58187 |
| Luzerner Kantonalbank AG | &nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;81720 |
| Medacta Group SA (C) | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;24336 |
| medmix AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;16673 |
| Metall Zug AG, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;24935 |
| Mobilezone Holding AG | &nbsp;&nbsp;&nbsp;2336 | &nbsp;&nbsp;&nbsp;&nbsp;38743 |
| Mobimo Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;98776 |
| Novavest Real Estate AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;20674 |
| OC Oerlikon Corp. AG | &nbsp;&nbsp;&nbsp;8368 | &nbsp;&nbsp;&nbsp;&nbsp;54875 |
| Orascom Development Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268 |
| Orior AG | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;33692 |
| Peach Property Group AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3754 |
| Phoenix Mecano AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;13559 |
| Plazza AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;22776 |
| PSP Swiss Property AG | &nbsp;&nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;268189 |
| Rieter Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;&nbsp;28393 |
| Romande Energie Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;41002 |
| Schaffner Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;12729 |
| Schweiter Technologies AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;46070 |
| Sensirion Holding AG (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;52441 |
| SFS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;84968 |
| Siegfried Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;128865 |
| SIG Group AG (A) | &nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;29849 |
| Softwareone Holding AG (A) | &nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp;59115 |
| St. Galler Kantonalbank AG, Class A | &nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;89962 |
| Stadler Rail AG | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;15019 |
| Sulzer AG | &nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp;94360 |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;326497 |
| Swiss Steel Holding AG (A) | &nbsp;&nbsp;39436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782 |
| Swissquote Group Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;67079 |
| Tecan Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;27306 |
| Temenos AG | &nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp;160749 |
| TX Group AG | &nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;32119 |
| u-blox Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;51449 |
| Valiant Holding AG | &nbsp;&nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp;115695 |
| VAT Group AG (C) | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;62041 |
| Vaudoise Assurances Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;29248 |
| Vetropack Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;32006 |
| Von Roll Holding AG, Bearer Shares (A) | &nbsp;&nbsp;&nbsp;7878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7343 |
| Vontobel Holding AG | &nbsp;&nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp;&nbsp;79056 |
| VZ Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;42692 |
| V-ZUG Holding AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;11812 |
| Walliser Kantonalbank | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;22846 |
| Warteck Invest AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;19621 |
| Ypsomed Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;54922 |
| Zehnder Group AG | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;37346 |
| Zug Estates Holding AG, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;30649 |
| Zuger Kantonalbank AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;70666 |
|  |  | 7164246 |
| **Taiwan - 0.0%** |  |  |
| FIT Hon Teng, Ltd. (A)(C) | &nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;12813 |
| Ya Hsin Industrial Company, Ltd. (A)(B) | 138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12813 |
| **United Arab Emirates - 0.1%** |  |  |
| Borr Drilling, Ltd. (A) | &nbsp;&nbsp;&nbsp;4890 | &nbsp;&nbsp;&nbsp;&nbsp;26938 |
| Borr Drilling, Ltd. (New York Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;4645 | &nbsp;&nbsp;&nbsp;&nbsp;23086 |
| Network International Holdings PLC (A)(C) | &nbsp;&nbsp;&nbsp;4888 | &nbsp;&nbsp;&nbsp;&nbsp;17700 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Arab Emirates (continued)** |  |  |
| Shelf Drilling, Ltd. (A)(C) | 10196 | $&nbsp;&nbsp;&nbsp;23087 |
|  |  | &nbsp;&nbsp;&nbsp;90811 |
| **United Kingdom - 11.3%** |  |  |
| 4imprint Group PLC | &nbsp;&nbsp;1523 | &nbsp;&nbsp;&nbsp;78930 |
| A.G. Barr PLC | &nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;30213 |
| Accesso Technology Group PLC (A) | &nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;23464 |
| Advanced Medical Solutions Group PLC | &nbsp;&nbsp;2544 | &nbsp;&nbsp;&nbsp;&nbsp;7962 |
| AJ Bell PLC | 11487 | &nbsp;&nbsp;&nbsp;50258 |
| Alfa Financial Software Holdings PLC (C) | &nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp;8126 |
| Alliance Pharma PLC | 24062 | &nbsp;&nbsp;&nbsp;15515 |
| Anglo-Eastern Plantations PLC | &nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;11879 |
| Ascential PLC (A) | 20806 | &nbsp;&nbsp;&nbsp;50801 |
| Ashmore Group PLC | 15764 | &nbsp;&nbsp;&nbsp;45411 |
| Aston Martin Lagonda Global Holdings PLC (A)(C) | &nbsp;&nbsp;4390 | &nbsp;&nbsp;&nbsp;&nbsp;8087 |
| Avon Protection PLC | &nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;20446 |
| Babcock International Group PLC (A) | 20223 | &nbsp;&nbsp;&nbsp;69163 |
| Bakkavor Group PLC (C) | &nbsp;&nbsp;5579 | &nbsp;&nbsp;&nbsp;&nbsp;6491 |
| Balfour Beatty PLC | 34581 | 141508 |
| Beazley PLC | 32052 | 262145 |
| Begbies Traynor Group PLC | &nbsp;&nbsp;6626 | &nbsp;&nbsp;&nbsp;11610 |
| Bellway PLC | &nbsp;&nbsp;5950 | 136067 |
| Biffa PLC (C) | 17147 | &nbsp;&nbsp;&nbsp;84191 |
| Bloomsbury Publishing PLC | &nbsp;&nbsp;4265 | &nbsp;&nbsp;&nbsp;22979 |
| Bodycote PLC | &nbsp;&nbsp;7984 | &nbsp;&nbsp;&nbsp;54962 |
| Boohoo Group PLC (A) | &nbsp;&nbsp;3748 | &nbsp;&nbsp;&nbsp;&nbsp;1598 |
| BRAEMAR PLC | &nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp;4737 |
| Britvic PLC | 13590 | 126615 |
| Brooks Macdonald Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;10912 |
| Bytes Technology Group PLC | &nbsp;&nbsp;8239 | &nbsp;&nbsp;&nbsp;38477 |
| Capita PLC (A) | 91929 | &nbsp;&nbsp;&nbsp;27158 |
| Capricorn Energy PLC (A) | 24079 | &nbsp;&nbsp;&nbsp;76152 |
| Card Factory PLC (A) | 14688 | &nbsp;&nbsp;&nbsp;13892 |
| Carillion PLC (A)(B) | 35521 | &nbsp;&nbsp;&nbsp;&nbsp;4118 |
| Carr's Group PLC | &nbsp;&nbsp;6569 | &nbsp;&nbsp;&nbsp;&nbsp;9908 |
| Cazoo Group, Ltd. (A) | &nbsp;&nbsp;4506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707 |
| Central Asia Metals PLC | &nbsp;&nbsp;8189 | &nbsp;&nbsp;&nbsp;24685 |
| CentralNic Group PLC (A) | 10289 | &nbsp;&nbsp;&nbsp;19437 |
| Centrica PLC | 37192 | &nbsp;&nbsp;&nbsp;43257 |
| Chemring Group PLC | 13921 | &nbsp;&nbsp;&nbsp;49937 |
| Chesnara PLC | &nbsp;&nbsp;7709 | &nbsp;&nbsp;&nbsp;26537 |
| City of London Investment Group PLC | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;10591 |
| Clarkson PLC | &nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;52820 |
| Close Brothers Group PLC | &nbsp;&nbsp;7281 | &nbsp;&nbsp;&nbsp;91564 |
| CMC Markets PLC (C) | &nbsp;&nbsp;7009 | &nbsp;&nbsp;&nbsp;18888 |
| Coats Group PLC | 80166 | &nbsp;&nbsp;&nbsp;64331 |
| Cohort PLC | &nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;10733 |
| Computacenter PLC | &nbsp;&nbsp;3225 | &nbsp;&nbsp;&nbsp;74893 |
| Concentric AB | &nbsp;&nbsp;1680 | &nbsp;&nbsp;&nbsp;31381 |
| Costain Group PLC (A) | &nbsp;&nbsp;4797 | &nbsp;&nbsp;&nbsp;&nbsp;2270 |
| Cranswick PLC | &nbsp;&nbsp;2760 | 102335 |
| Crest Nicholson Holdings PLC | 13693 | &nbsp;&nbsp;&nbsp;38982 |
| Currys PLC | 70297 | &nbsp;&nbsp;&nbsp;45433 |
| CVS Group PLC | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;64146 |
| De La Rue PLC (A) | 10028 | &nbsp;&nbsp;&nbsp;&nbsp;9396 |
| Debenhams PLC (A)(B) | 76182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Deliveroo PLC (A)(C) | 11090 | &nbsp;&nbsp;&nbsp;11476 |
| Devro PLC | 12253 | &nbsp;&nbsp;&nbsp;45599 |
| DFS Furniture PLC | 12509 | &nbsp;&nbsp;&nbsp;23097 |
| Dialight PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 |
| Dignity PLC (A) | &nbsp;&nbsp;3439 | &nbsp;&nbsp;&nbsp;17227 |
| Diploma PLC | &nbsp;&nbsp;3965 | 133295 |
| Direct Line Insurance Group PLC | 26553 | &nbsp;&nbsp;&nbsp;70774 |
| DiscoverIE Group PLC | &nbsp;&nbsp;5627 | &nbsp;&nbsp;&nbsp;49259 |
| Domino's Pizza Group PLC | 18477 | &nbsp;&nbsp;&nbsp;65794 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| dotdigital Group PLC | &nbsp;&nbsp;12814 | $&nbsp;&nbsp;&nbsp;12782 |
| Dr Martens PLC | &nbsp;&nbsp;12054 | &nbsp;&nbsp;&nbsp;27356 |
| Drax Group PLC | &nbsp;&nbsp;19800 | 167953 |
| Dunelm Group PLC | &nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;62838 |
| DWF Group PLC (C) | &nbsp;&nbsp;14677 | &nbsp;&nbsp;&nbsp;14270 |
| easyJet PLC (A) | &nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;17169 |
| ECORA RESOURCES PLC | &nbsp;&nbsp;12147 | &nbsp;&nbsp;&nbsp;22120 |
| EKF Diagnostics Holdings PLC | &nbsp;&nbsp;&nbsp;8242 | &nbsp;&nbsp;&nbsp;&nbsp;5011 |
| Elementis PLC (A) | &nbsp;&nbsp;19999 | &nbsp;&nbsp;&nbsp;29088 |
| EMIS Group PLC | &nbsp;&nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;83716 |
| Energean PLC | &nbsp;&nbsp;&nbsp;5147 | &nbsp;&nbsp;&nbsp;80864 |
| EnQuest PLC (A) | 115537 | &nbsp;&nbsp;&nbsp;29773 |
| Ergomed PLC (A) | &nbsp;&nbsp;&nbsp;2357 | &nbsp;&nbsp;&nbsp;36025 |
| Esken, Ltd. (A) | &nbsp;&nbsp;25251 | &nbsp;&nbsp;&nbsp;&nbsp;1546 |
| Essentra PLC | &nbsp;&nbsp;14966 | &nbsp;&nbsp;&nbsp;42801 |
| FD Technologies PLC (A) | &nbsp;&nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;21073 |
| FDM Group Holdings PLC | &nbsp;&nbsp;&nbsp;4489 | &nbsp;&nbsp;&nbsp;40274 |
| Fevertree Drinks PLC | &nbsp;&nbsp;&nbsp;4244 | &nbsp;&nbsp;&nbsp;52787 |
| Firstgroup PLC | &nbsp;&nbsp;37976 | &nbsp;&nbsp;&nbsp;46317 |
| Forterra PLC (C) | &nbsp;&nbsp;10957 | &nbsp;&nbsp;&nbsp;24757 |
| Foxtons Group PLC | &nbsp;&nbsp;23551 | &nbsp;&nbsp;&nbsp;&nbsp;8392 |
| Frasers Group PLC (A) | &nbsp;&nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;83590 |
| Frontier Developments PLC (A) | &nbsp;&nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;12887 |
| Fuller Smith & Turner PLC, Class A | &nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;9139 |
| Funding Circle Holdings PLC (A)(C) | &nbsp;&nbsp;&nbsp;3849 | &nbsp;&nbsp;&nbsp;&nbsp;2544 |
| Galliford Try Holdings PLC | &nbsp;&nbsp;&nbsp;5675 | &nbsp;&nbsp;&nbsp;10890 |
| Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;1582 | 163301 |
| Gamma Communications PLC | &nbsp;&nbsp;&nbsp;3729 | &nbsp;&nbsp;&nbsp;48725 |
| Gem Diamonds, Ltd. | &nbsp;&nbsp;12666 | &nbsp;&nbsp;&nbsp;&nbsp;4998 |
| Genel Energy PLC | &nbsp;&nbsp;&nbsp;4784 | &nbsp;&nbsp;&nbsp;&nbsp;7213 |
| Genuit Group PLC | &nbsp;&nbsp;12035 | &nbsp;&nbsp;&nbsp;40709 |
| Gooch & Housego PLC | &nbsp;&nbsp;&nbsp;1681 | &nbsp;&nbsp;&nbsp;10904 |
| Grainger PLC | &nbsp;&nbsp;32286 | &nbsp;&nbsp;&nbsp;98624 |
| Greggs PLC | &nbsp;&nbsp;&nbsp;5783 | 162487 |
| Gulf Keystone Petroleum, Ltd. | &nbsp;&nbsp;11237 | &nbsp;&nbsp;&nbsp;27380 |
| Halfords Group PLC | &nbsp;&nbsp;15547 | &nbsp;&nbsp;&nbsp;39101 |
| Harbour Energy PLC | &nbsp;&nbsp;17422 | &nbsp;&nbsp;&nbsp;64292 |
| Harworth Group PLC | &nbsp;&nbsp;&nbsp;6530 | &nbsp;&nbsp;&nbsp;&nbsp;8347 |
| Hays PLC | &nbsp;&nbsp;77290 | 108348 |
| Headlam Group PLC | &nbsp;&nbsp;&nbsp;6602 | &nbsp;&nbsp;&nbsp;24141 |
| Helical PLC | &nbsp;&nbsp;&nbsp;6424 | &nbsp;&nbsp;&nbsp;25819 |
| Helios Towers PLC (A) | &nbsp;&nbsp;21114 | &nbsp;&nbsp;&nbsp;26923 |
| Henry Boot PLC | &nbsp;&nbsp;&nbsp;5301 | &nbsp;&nbsp;&nbsp;15045 |
| Hill & Smith PLC | &nbsp;&nbsp;&nbsp;4214 | &nbsp;&nbsp;&nbsp;59499 |
| Hilton Food Group PLC | &nbsp;&nbsp;&nbsp;3867 | &nbsp;&nbsp;&nbsp;25887 |
| Hollywood Bowl Group PLC | &nbsp;&nbsp;&nbsp;8153 | &nbsp;&nbsp;&nbsp;24621 |
| HomeServe PLC (A) | &nbsp;&nbsp;&nbsp;5509 | &nbsp;&nbsp;&nbsp;79502 |
| Hunting PLC | &nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;33505 |
| Hyve Group PLC (A) | &nbsp;&nbsp;12149 | &nbsp;&nbsp;&nbsp;10760 |
| Ibstock PLC (C) | &nbsp;&nbsp;19043 | &nbsp;&nbsp;&nbsp;35599 |
| IDOX PLC | &nbsp;&nbsp;10437 | &nbsp;&nbsp;&nbsp;&nbsp;8151 |
| IG Group Holdings PLC | &nbsp;&nbsp;&nbsp;6472 | &nbsp;&nbsp;&nbsp;60982 |
| IMI PLC | &nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;25114 |
| Impax Asset Management Group PLC | &nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;36653 |
| Inchcape PLC | &nbsp;&nbsp;21514 | 212415 |
| Indivior PLC (A) | &nbsp;&nbsp;&nbsp;7200 | 161125 |
| IntegraFin Holdings PLC | &nbsp;&nbsp;&nbsp;9972 | &nbsp;&nbsp;&nbsp;36433 |
| International Distributions Services PLC | &nbsp;&nbsp;&nbsp;7711 | &nbsp;&nbsp;&nbsp;19766 |
| International Personal Finance PLC | &nbsp;&nbsp;12526 | &nbsp;&nbsp;&nbsp;11108 |
| iomart Group PLC | &nbsp;&nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp;3423 |
| IP Group PLC | &nbsp;&nbsp;38897 | &nbsp;&nbsp;&nbsp;26033 |
| IQE PLC (A) | &nbsp;&nbsp;33004 | &nbsp;&nbsp;&nbsp;19786 |
| ITV PLC | &nbsp;&nbsp;78901 | &nbsp;&nbsp;&nbsp;71356 |
| J.D. Wetherspoon PLC (A) | &nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;23143 |
| James Fisher & Sons PLC (A) | &nbsp;&nbsp;&nbsp;2814 | &nbsp;&nbsp;&nbsp;13236 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| James Halstead PLC | &nbsp;&nbsp;11052 | $&nbsp;&nbsp;&nbsp;25153 |
| JET2 PLC | &nbsp;&nbsp;&nbsp;6865 | &nbsp;&nbsp;&nbsp;79118 |
| John Wood Group PLC (A) | &nbsp;&nbsp;34072 | &nbsp;&nbsp;&nbsp;55218 |
| Johnson Service Group PLC | &nbsp;&nbsp;24380 | &nbsp;&nbsp;&nbsp;28482 |
| Jupiter Fund Management PLC | &nbsp;&nbsp;22824 | &nbsp;&nbsp;&nbsp;36638 |
| Just Group PLC | &nbsp;&nbsp;56562 | &nbsp;&nbsp;&nbsp;55944 |
| Kainos Group PLC | &nbsp;&nbsp;&nbsp;4099 | &nbsp;&nbsp;&nbsp;76753 |
| Keller Group PLC | &nbsp;&nbsp;&nbsp;4206 | &nbsp;&nbsp;&nbsp;40592 |
| Kier Group PLC (A) | &nbsp;&nbsp;22531 | &nbsp;&nbsp;&nbsp;16156 |
| Kin & Carta PLC (A) | &nbsp;&nbsp;&nbsp;5938 | &nbsp;&nbsp;&nbsp;15293 |
| Knights Group Holdings PLC | &nbsp;&nbsp;&nbsp;2269 | &nbsp;&nbsp;&nbsp;&nbsp;2937 |
| Lancashire Holdings, Ltd. | &nbsp;&nbsp;14953 | 117573 |
| Learning Technologies Group PLC | &nbsp;&nbsp;21193 | &nbsp;&nbsp;&nbsp;29603 |
| Liontrust Asset Management PLC | &nbsp;&nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;32510 |
| Lookers PLC | &nbsp;&nbsp;22449 | &nbsp;&nbsp;&nbsp;20481 |
| LSL Property Services PLC | &nbsp;&nbsp;&nbsp;6404 | &nbsp;&nbsp;&nbsp;19420 |
| Luceco PLC (C) | &nbsp;&nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;2321 |
| M&C Saatchi PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 |
| Macfarlane Group PLC | &nbsp;&nbsp;&nbsp;6288 | &nbsp;&nbsp;&nbsp;&nbsp;7868 |
| Man Group PLC | &nbsp;&nbsp;60987 | 156912 |
| Marks & Spencer Group PLC (A) | &nbsp;&nbsp;63420 | &nbsp;&nbsp;&nbsp;93561 |
| Marshalls PLC | &nbsp;&nbsp;11740 | &nbsp;&nbsp;&nbsp;38726 |
| Marston's PLC (A) | &nbsp;&nbsp;37566 | &nbsp;&nbsp;&nbsp;18001 |
| McBride PLC (A) | &nbsp;&nbsp;14770 | &nbsp;&nbsp;&nbsp;&nbsp;3640 |
| ME Group International PLC | &nbsp;&nbsp;18684 | &nbsp;&nbsp;&nbsp;25893 |
| Mears Group PLC | &nbsp;&nbsp;&nbsp;8289 | &nbsp;&nbsp;&nbsp;20761 |
| Medica Group PLC | &nbsp;&nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;&nbsp;7638 |
| Metro Bank PLC (A) | &nbsp;&nbsp;&nbsp;9741 | &nbsp;&nbsp;&nbsp;14167 |
| Micro Focus International PLC | &nbsp;&nbsp;16735 | 107204 |
| Midwich Group PLC | &nbsp;&nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;6037 |
| Mitchells & Butlers PLC (A) | &nbsp;&nbsp;16776 | &nbsp;&nbsp;&nbsp;27630 |
| Mitie Group PLC | &nbsp;&nbsp;94711 | &nbsp;&nbsp;&nbsp;84900 |
| MJ Gleeson PLC | &nbsp;&nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;11435 |
| Moneysupermarket.com Group PLC | &nbsp;&nbsp;27587 | &nbsp;&nbsp;&nbsp;64312 |
| Moonpig Group PLC (A) | &nbsp;&nbsp;10123 | &nbsp;&nbsp;&nbsp;13466 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp;&nbsp;8676 | &nbsp;&nbsp;&nbsp;33003 |
| Morgan Sindall Group PLC | &nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;34006 |
| Mortgage Advice Bureau Holdings, Ltd. | &nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp;8182 |
| MP Evans Group PLC | &nbsp;&nbsp;&nbsp;1384 | &nbsp;&nbsp;&nbsp;13631 |
| N. Brown Group PLC (A) | &nbsp;&nbsp;&nbsp;9633 | &nbsp;&nbsp;&nbsp;&nbsp;2903 |
| National Express Group PLC (A) | &nbsp;&nbsp;21097 | &nbsp;&nbsp;&nbsp;33081 |
| NCC Group PLC | &nbsp;&nbsp;17294 | &nbsp;&nbsp;&nbsp;41376 |
| Next Fifteen Communications Group PLC | &nbsp;&nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;44646 |
| Ninety One PLC | &nbsp;&nbsp;14875 | &nbsp;&nbsp;&nbsp;33256 |
| NIOX Group PLC (A) | &nbsp;&nbsp;&nbsp;9034 | &nbsp;&nbsp;&nbsp;&nbsp;4013 |
| Norcros PLC | &nbsp;&nbsp;&nbsp;6666 | &nbsp;&nbsp;&nbsp;14532 |
| Numis Corp. PLC | &nbsp;&nbsp;&nbsp;2926 | &nbsp;&nbsp;&nbsp;&nbsp;6770 |
| Odfjell Technology, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;2492 |
| On the Beach Group PLC (A)(C) | &nbsp;&nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;10328 |
| OSB Group PLC | &nbsp;&nbsp;18542 | 107211 |
| Oxford Instruments PLC | &nbsp;&nbsp;&nbsp;2405 | &nbsp;&nbsp;&nbsp;65470 |
| Pagegroup PLC | &nbsp;&nbsp;17115 | &nbsp;&nbsp;&nbsp;95295 |
| Pan African Resources PLC | &nbsp;&nbsp;85815 | &nbsp;&nbsp;&nbsp;16993 |
| Paragon Banking Group PLC | &nbsp;&nbsp;13704 | &nbsp;&nbsp;&nbsp;93174 |
| PayPoint PLC | &nbsp;&nbsp;&nbsp;4705 | &nbsp;&nbsp;&nbsp;28913 |
| Pendragon PLC (A) | 102667 | &nbsp;&nbsp;&nbsp;23860 |
| Pennon Group PLC | &nbsp;&nbsp;10690 | 114935 |
| Petrofac, Ltd. (A) | &nbsp;&nbsp;28442 | &nbsp;&nbsp;&nbsp;24105 |
| Pets at Home Group PLC | &nbsp;&nbsp;19330 | &nbsp;&nbsp;&nbsp;65899 |
| Pharos Energy PLC (A) | &nbsp;&nbsp;16636 | &nbsp;&nbsp;&nbsp;&nbsp;4648 |
| Phoenix Spree Deutschland, Ltd. | &nbsp;&nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;16456 |
| Polar Capital Holdings PLC | &nbsp;&nbsp;&nbsp;3830 | &nbsp;&nbsp;&nbsp;22110 |
| Porvair PLC | &nbsp;&nbsp;&nbsp;2468 | &nbsp;&nbsp;&nbsp;18404 |
| Premier Foods PLC | &nbsp;&nbsp;33077 | &nbsp;&nbsp;&nbsp;43101 |
| Provident Financial PLC | &nbsp;&nbsp;13396 | &nbsp;&nbsp;&nbsp;31021 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Purplebricks Group PLC (A) | &nbsp;&nbsp;7294 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837 |
| PZ Cussons PLC | 13141 | &nbsp;&nbsp;&nbsp;33335 |
| QinetiQ Group PLC | 25053 | 107734 |
| Quilter PLC (C) | 54284 | &nbsp;&nbsp;&nbsp;60670 |
| Rank Group PLC (A) | &nbsp;&nbsp;7303 | &nbsp;&nbsp;&nbsp;&nbsp;7163 |
| Rathbones Group PLC | &nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;75179 |
| Reach PLC | 25143 | &nbsp;&nbsp;&nbsp;28949 |
| Redcentric PLC | &nbsp;&nbsp;5876 | &nbsp;&nbsp;&nbsp;&nbsp;9212 |
| Redde Northgate PLC | 14424 | &nbsp;&nbsp;&nbsp;71756 |
| Redrow PLC | 14867 | &nbsp;&nbsp;&nbsp;81470 |
| Renew Holdings PLC | &nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;36943 |
| Renewi PLC (A) | &nbsp;&nbsp;5276 | &nbsp;&nbsp;&nbsp;38120 |
| Renishaw PLC | &nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;65443 |
| Ricardo PLC | &nbsp;&nbsp;2982 | &nbsp;&nbsp;&nbsp;17179 |
| RM PLC | &nbsp;&nbsp;8752 | &nbsp;&nbsp;&nbsp;&nbsp;6113 |
| Robert Walters PLC | &nbsp;&nbsp;4693 | &nbsp;&nbsp;&nbsp;30413 |
| Rotork PLC | 43727 | 162500 |
| RPS Group PLC | 15418 | &nbsp;&nbsp;&nbsp;40768 |
| RWS Holdings PLC | &nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp;8254 |
| S&U PLC | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;12795 |
| Sabre Insurance Group PLC (C) | 10582 | &nbsp;&nbsp;&nbsp;13616 |
| Saga PLC (A) | &nbsp;&nbsp;4637 | &nbsp;&nbsp;&nbsp;&nbsp;6969 |
| Savannah Energy PLC (A)(B) | 53744 | &nbsp;&nbsp;&nbsp;17056 |
| Savills PLC | &nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;59272 |
| Senior PLC | 21835 | &nbsp;&nbsp;&nbsp;32893 |
| Serco Group PLC | 46758 | &nbsp;&nbsp;&nbsp;87773 |
| Serica Energy PLC | 10784 | &nbsp;&nbsp;&nbsp;37432 |
| Severfield PLC | 11941 | &nbsp;&nbsp;&nbsp;&nbsp;8914 |
| SIG PLC (A) | 64105 | &nbsp;&nbsp;&nbsp;22839 |
| Smart Metering Systems PLC | &nbsp;&nbsp;5194 | &nbsp;&nbsp;&nbsp;48823 |
| Softcat PLC | &nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;65534 |
| Spectris PLC | &nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;64737 |
| Speedy Hire PLC | 24369 | &nbsp;&nbsp;&nbsp;11710 |
| Spire Healthcare Group PLC (A)(C) | 13646 | &nbsp;&nbsp;&nbsp;37552 |
| Spirent Communications PLC | 33589 | 106714 |
| Sportech PLC | &nbsp;&nbsp;4748 | &nbsp;&nbsp;&nbsp;&nbsp;1111 |
| SSP Group PLC (A) | 32793 | &nbsp;&nbsp;&nbsp;89825 |
| SThree PLC | &nbsp;&nbsp;8144 | &nbsp;&nbsp;&nbsp;39957 |
| Stolt-Nielsen, Ltd. | &nbsp;&nbsp;2414 | &nbsp;&nbsp;&nbsp;66501 |
| Studio Retail Group PLC (A)(B) | &nbsp;&nbsp;8139 | &nbsp;&nbsp;&nbsp;11316 |
| STV Group PLC | &nbsp;&nbsp;2712 | &nbsp;&nbsp;&nbsp;&nbsp;9067 |
| Superdry PLC (A) | &nbsp;&nbsp;3110 | &nbsp;&nbsp;&nbsp;&nbsp;4802 |
| Synthomer PLC | 17828 | &nbsp;&nbsp;&nbsp;31048 |
| Tate & Lyle PLC | 17496 | 149893 |
| Tatton Asset Management PLC | &nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;10765 |
| Telecom Plus PLC | &nbsp;&nbsp;3652 | &nbsp;&nbsp;&nbsp;96671 |
| The Gym Group PLC (A)(C) | &nbsp;&nbsp;5959 | &nbsp;&nbsp;&nbsp;&nbsp;7838 |
| The Restaurant Group PLC (A) | 30769 | &nbsp;&nbsp;&nbsp;11552 |
| The Vitec Group PLC | &nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;37064 |
| THG PLC (A) | &nbsp;&nbsp;6472 | &nbsp;&nbsp;&nbsp;&nbsp;3459 |
| TI Fluid Systems PLC (C) | &nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;2725 |
| Topps Tiles PLC | 15591 | &nbsp;&nbsp;&nbsp;&nbsp;8402 |
| TORM PLC, Class A | &nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;45662 |
| TP ICAP Group PLC | 45423 | &nbsp;&nbsp;&nbsp;95467 |
| Travis Perkins PLC | &nbsp;&nbsp;9597 | 102604 |
| Trifast PLC | &nbsp;&nbsp;7237 | &nbsp;&nbsp;&nbsp;&nbsp;6313 |
| TT Electronics PLC | 14769 | &nbsp;&nbsp;&nbsp;30800 |
| Tullow Oil PLC (A) | 72437 | &nbsp;&nbsp;&nbsp;32411 |
| Tyman PLC | &nbsp;&nbsp;9005 | &nbsp;&nbsp;&nbsp;24506 |
| Verici Dx PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| Vertu Motors PLC | 13548 | &nbsp;&nbsp;&nbsp;&nbsp;8757 |
| Vesuvius PLC | 12719 | &nbsp;&nbsp;&nbsp;62018 |
| Victrex PLC | &nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;66851 |
| Virgin Money UK PLC | 57990 | 127529 |
| Vistry Group PLC | 14429 | 108679 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| Volex PLC | &nbsp;&nbsp;6211 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18832 |
| Volution Group PLC | &nbsp;&nbsp;9834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43379 |
| Vp PLC | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5287 |
| Watches of Switzerland Group PLC (A)(C) | 10654 | &nbsp;&nbsp;&nbsp;&nbsp;104095 |
| Watkin Jones PLC | 10502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12754 |
| WH Smith PLC (A) | &nbsp;&nbsp;5221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92858 |
| Wickes Group PLC | 13094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23087 |
| Wilmington PLC | &nbsp;&nbsp;8076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30349 |
| Wincanton PLC | &nbsp;&nbsp;8498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34564 |
| Xaar PLC (A) | &nbsp;&nbsp;5629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13130 |
| XPS Pensions Group PLC | 13660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22770 |
| Young & Co's Brewery PLC | &nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13263 |
| Young & Co's Brewery PLC, Class A | &nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15151 |
| Zotefoams PLC | &nbsp;&nbsp;1549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6353 |
|  |  | 11130206 |
| **United States - 0.9%** |  |  |
| ADTRAN Holdings, Inc. | &nbsp;&nbsp;3066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55987 |
| Argonaut Gold, Inc. (A) | 16734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6427 |
| Atlantic Sapphire ASA (A) | &nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013 |
| Burford Capital, Ltd. | &nbsp;&nbsp;8414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67520 |
| Diversified Energy Company PLC | 38586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54060 |
| Energy Fuels, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4518 |
| Frontage Holdings Corp. (A)(C) | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171 |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2860 |
| Invesque, Inc. (A) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660 |
| Kingsway Financial Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370 |
| Noble Corp. PLC (A) | &nbsp;&nbsp;1465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54507 |
| Perpetua Resources Corp. (A) | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8752 |
| Primo Water Corp. | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24864 |
| Primo Water Corp. (Toronto Stock Exchange) | &nbsp;&nbsp;6607 | &nbsp;&nbsp;&nbsp;&nbsp;102570 |
| PureTech Health PLC (A) | 16139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52442 |
| REC Silicon ASA (A) | 16036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22863 |
| Reliance Worldwide Corp., Ltd. | 36825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73627 |
| Samsonite International SA (A)(C) | 43800 | &nbsp;&nbsp;&nbsp;&nbsp;115006 |
| SSR Mining, Inc. | &nbsp;&nbsp;7507 | &nbsp;&nbsp;&nbsp;&nbsp;117484 |
| SunOpta, Inc. (A) | &nbsp;&nbsp;5608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47134 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;3094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14111 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;855602 |
| TOTAL COMMON STOCKS (Cost $115,390,558) | TOTAL COMMON STOCKS (Cost $115,390,558) | $97253435 |
| **PREFERRED SECURITIES - 0.3%** | **PREFERRED SECURITIES - 0.3%** |  |
| **Germany - 0.3%** |  |  |
| Draegerwerk AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25183 |
| Fuchs Petrolub SE | &nbsp;&nbsp;3739 | &nbsp;&nbsp;&nbsp;&nbsp;130695 |
| Jungheinrich AG | &nbsp;&nbsp;2336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66170 |
| Sixt SE | &nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48737 |
| STO SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26106 |
| Villeroy & Boch AG | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;308063 |
| TOTAL PREFERRED SECURITIES (Cost $331,907) | TOTAL PREFERRED SECURITIES (Cost $331,907) | $&nbsp;&nbsp;&nbsp;&nbsp;308063 |
| **WARRANTS - 0.0%** |  |  |
| Ezion Holdings, Ltd. (Expiration Date: 4-6-23; Strike Price: SGD 0.28) (A) | 78780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Fingerprint Cards AB (Expiration Date: 9-8-23) (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| MECOM Power and Construction, Ltd. (Expiration Date: 5-24-23; Strike Price: HKD 4.47) (A) | &nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 |
| Treasury Metals, Inc. (Expiration Date: 8-7-23; Strike Price: CAD 1.50) (A) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### International Small Company Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **WARRANTS (continued)** |  |  |
| Webuild SpA (Expiration Date: 8-2-30) (A)(D) | 1316 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 |
| **RIGHTS - 0.0%** |  |  |
| Intercell AG (A)(B)(D) | 3233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| S IMMO AG (Expiration Date: 1-1-26) (A)(D) | 2772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Total Investments (International Small Company Trust)<br> (Cost $115,722,465) - 99.0%** | **Total Investments (International Small Company Trust)<br> (Cost $115,722,465) - 99.0%** | $**97562044** |
| **Other assets and liabilities, net - 1.0%** | **Other assets and liabilities, net - 1.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**988506** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**98550550** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| CAD | Canadian Dollar |
| HKD | Hong Kong Dollar |
| SGD | Singapore Dollar |
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | Strike price and/or expiration date not available. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Mini MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$295459 | &nbsp;&nbsp;&nbsp;&nbsp;$292380 | &nbsp;&nbsp;&nbsp;&nbsp;$(3079) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(3079)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Lifestyle Balanced Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 50.2%** | **Equity - 50.2%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;29670029 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450984436 |
| **Fixed income - 49.8%** | **Fixed income - 49.8%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;39124748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447978362 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,053,805,656) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,053,805,656) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898962798 |
| **Total Investments (Lifestyle Balanced Portfolio) (Cost $1,053,805,656) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898962798** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(19003)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**898943795** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |

---

#### Lifestyle Conservative Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 20.0%** | **Equity - 20.0%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178140 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33107732 |

---

#### Lifestyle Conservative Portfolio (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) (continued)** | **AFFILIATED INVESTMENT COMPANIES (A) (continued)** |  |
| **Fixed income - 80.0%** | **Fixed income - 80.0%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;11548333 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132228407 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $200,505,029) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $200,505,029) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165336139 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21217 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $21,214) | TOTAL SHORT-TERM INVESTMENTS (Cost $21,214) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21217 |
| **Total Investments (Lifestyle Conservative Portfolio) (Cost $200,526,243) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**165357356** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8706)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**165348650** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Lifestyle Growth Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 70.5%** | **Equity - 70.5%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | 225848655 | $&nbsp;&nbsp;&nbsp;&nbsp;3432899552 |
| **Fixed income - 29.5%** | **Fixed income - 29.5%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | 125741645 | &nbsp;&nbsp;&nbsp;&nbsp;1439741831 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,637,083,212) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,637,083,212) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872641383 |
| **Total Investments (Lifestyle Growth Portfolio) (Cost $5,637,083,212) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;**4872641383** |
| **Other assets and liabilities, net - 0.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21813** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4872663196** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |

---

#### Lifestyle Moderate Portfolio

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** | **AFFILIATED INVESTMENT COMPANIES (A) - 100.0%** |  |
| **Equity - 40.3%** | **Equity - 40.3%** |  |
| Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7280355 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110661403 |
| **Fixed income - 59.7%** | **Fixed income - 59.7%** |  |
| Select Bond, Series NAV, JHVIT (MIM US) (B) | &nbsp;&nbsp;&nbsp;&nbsp;14323906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164008718 |
| TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $327,367,787) | TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $327,367,787) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274670121 |
| **SHORT-TERM INVESTMENTS - 0.0%** | **SHORT-TERM INVESTMENTS - 0.0%** |  |
| **Short-term funds - 0.0%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15630 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,629) | TOTAL SHORT-TERM INVESTMENTS (Cost $15,629) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15630 |
| **Total Investments (Lifestyle Moderate Portfolio) (Cost $327,383,416) - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**274685751** |
| **Other assets and liabilities, net - (0.0%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8161)** |
| **TOTAL NET ASSETS - 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**274677590** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| JHVIT | John Hancock Variable Insurance Trust |
| MIM US | Manulife Investment Management (US) LLC |
| (A) | The underlying portfolios' subadvisor is shown parenthetically. |
| (B) | The subadvisor is an affiliate of the advisor. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Mid Cap Growth Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.1%** | **COMMON STOCKS – 97.1%** |  |
| **Communication services – 5.2%** |  |  |
| **Entertainment – 3.7%** | **Entertainment – 3.7%** |  |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95059 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6629415 |
| Spotify Technology SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10189761 |

---

#### Mid Cap Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40547 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222159 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21041335 |
| **Interactive media and services – 1.5%** | **Interactive media and services – 1.5%** |  |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8123016 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29164351 |
| **Consumer discretionary – 19.8%** |  |  |
| **Auto components – 0.7%** | **Auto components – 0.7%** |  |
| Mobileye Global, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3881142 |
| **Automobiles – 1.9%** | **Automobiles – 1.9%** |  |
| Thor Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10631408 |
| **Hotels, restaurants and leisure – 7.2%** | **Hotels, restaurants and leisure – 7.2%** |  |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894960 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15887290 |
| DraftKings, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6031426 |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8969958 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3461830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40245464 |
| **Household durables – 2.0%** | **Household durables – 2.0%** |  |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10994574 |
| **Internet and direct marketing retail – 0.4%** | **Internet and direct marketing retail – 0.4%** |  |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506037 |
| **Specialty retail – 4.7%** | **Specialty retail – 4.7%** |  |
| Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10243874 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15993411 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26237285 |
| **Textiles, apparel and luxury goods – 2.9%** | **Textiles, apparel and luxury goods – 2.9%** |  |
| Lululemon Athletica, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16512706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111008616 |
| **Consumer staples – 1.0%** |  |  |
| **Beverages – 1.0%** | **Beverages – 1.0%** |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5672469 |
| **Energy – 4.6%** |  |  |
| **Oil, gas and consumable fuels – 4.6%** | **Oil, gas and consumable fuels – 4.6%** |  |
| Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436733 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6247974 |
| Pioneer Natural Resources Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6182746 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6874970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25742423 |
| **Financials – 3.5%** |  |  |
| **Capital markets – 3.5%** | **Capital markets – 3.5%** |  |
| Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7686702 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11814273 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500975 |
| **Health care – 22.6%** |  |  |
| **Biotechnology – 2.8%** | **Biotechnology – 2.8%** |  |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9725992 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6254522 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15980514 |
| **Health care equipment and supplies – 11.0%** | **Health care equipment and supplies – 11.0%** |  |
| DexCom, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22859190 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10765603 |
| Insulet Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20559314 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7616206 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61800313 |
| **Health care technology – 3.2%** | **Health care technology – 3.2%** |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17829262 |
| **Life sciences tools and services – 4.5%** | **Life sciences tools and services – 4.5%** |  |
| Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18973824 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Growth Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;28437 | $&nbsp;&nbsp;&nbsp;&nbsp;6040303 |
|  |  | &nbsp;&nbsp;&nbsp;25014127 |
| **Pharmaceuticals – 1.1%** | **Pharmaceuticals – 1.1%** |  |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;39160 | &nbsp;&nbsp;&nbsp;&nbsp;6238580 |
|  |  | 126862796 |
| **Industrials – 11.8%** |  |  |
| **Aerospace and defense – 0.7%** | **Aerospace and defense – 0.7%** |  |
| Curtiss-Wright Corp. | &nbsp;&nbsp;22718 | &nbsp;&nbsp;&nbsp;&nbsp;3793679 |
| **Building products – 2.3%** | **Building products – 2.3%** |  |
| Johnson Controls International PLC | 202589 | &nbsp;&nbsp;&nbsp;12965696 |
| **Construction and engineering – 2.0%** | **Construction and engineering – 2.0%** |  |
| Fluor Corp. (A) | 170683 | &nbsp;&nbsp;&nbsp;&nbsp;5915873 |
| MasTec, Inc. (A) | &nbsp;&nbsp;64810 | &nbsp;&nbsp;&nbsp;&nbsp;5530237 |
|  |  | &nbsp;&nbsp;&nbsp;11446110 |
| **Machinery – 2.4%** | **Machinery – 2.4%** |  |
| The Middleby Corp. (A) | &nbsp;&nbsp;54681 | &nbsp;&nbsp;&nbsp;&nbsp;7321786 |
| The Toro Company | &nbsp;&nbsp;51373 | &nbsp;&nbsp;&nbsp;&nbsp;5815424 |
|  |  | &nbsp;&nbsp;&nbsp;13137210 |
| **Professional services – 3.2%** | **Professional services – 3.2%** |  |
| CoStar Group, Inc. (A) | 233711 | &nbsp;&nbsp;&nbsp;18061186 |
| **Trading companies and distributors – 1.2%** | **Trading companies and distributors – 1.2%** |  |
| WESCO International, Inc. (A) | &nbsp;&nbsp;55258 | &nbsp;&nbsp;&nbsp;&nbsp;6918302 |
|  |  | &nbsp;&nbsp;&nbsp;66322183 |
| **Information technology – 24.2%** |  |  |
| **Communications equipment – 3.4%** | **Communications equipment – 3.4%** |  |
| Arista Networks, Inc. (A) | 159283 | &nbsp;&nbsp;&nbsp;19328992 |
| **Electronic equipment, instruments and components – 1.9%** | **Electronic equipment, instruments and components – 1.9%** |  |
| Flex, Ltd. (A) | 511728 | &nbsp;&nbsp;&nbsp;10981683 |
| **IT services – 6.0%** | **IT services – 6.0%** |  |
| Block, Inc. (A) | 156254 | &nbsp;&nbsp;&nbsp;&nbsp;9819001 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;46518 | &nbsp;&nbsp;&nbsp;&nbsp;7881545 |
| Gartner, Inc. (A) | &nbsp;&nbsp;17183 | &nbsp;&nbsp;&nbsp;&nbsp;5775894 |
| Okta, Inc. (A) | 146607 | &nbsp;&nbsp;&nbsp;10017656 |
|  |  | &nbsp;&nbsp;&nbsp;33494096 |
| **Semiconductors and semiconductor equipment – 5.1%** | **Semiconductors and semiconductor equipment – 5.1%** |  |
| First Solar, Inc. (A) | &nbsp;&nbsp;35784 | &nbsp;&nbsp;&nbsp;&nbsp;5360085 |
| MKS Instruments, Inc. | &nbsp;&nbsp;65785 | &nbsp;&nbsp;&nbsp;&nbsp;5573963 |
| SolarEdge Technologies, Inc. (A) | &nbsp;&nbsp;40883 | &nbsp;&nbsp;&nbsp;11580927 |
| Universal Display Corp. | &nbsp;&nbsp;56670 | &nbsp;&nbsp;&nbsp;&nbsp;6122627 |
|  |  | &nbsp;&nbsp;&nbsp;28637602 |
| **Software – 7.8%** | **Software – 7.8%** |  |
| Five9, Inc. (A) | &nbsp;&nbsp;95129 | &nbsp;&nbsp;&nbsp;&nbsp;6455454 |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;58191 | &nbsp;&nbsp;&nbsp;18057249 |
| RingCentral, Inc., Class A (A) | 106672 | &nbsp;&nbsp;&nbsp;&nbsp;3776189 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;92591 | &nbsp;&nbsp;&nbsp;15493252 |
|  |  | &nbsp;&nbsp;&nbsp;43782144 |
|  |  | 136224517 |
| **Materials – 3.6%** |  |  |
| **Chemicals – 3.6%** | **Chemicals – 3.6%** |  |
| Albemarle Corp. | &nbsp;&nbsp;60169 | &nbsp;&nbsp;&nbsp;13048249 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;85337 | &nbsp;&nbsp;&nbsp;&nbsp;7270712 |
|  |  | &nbsp;&nbsp;&nbsp;20318961 |
| **Real estate – 0.8%** |  |  |
| **Equity real estate investment trusts – 0.8%** | **Equity real estate investment trusts – 0.8%** |  |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;29133 | &nbsp;&nbsp;&nbsp;&nbsp;4705562 |
| TOTAL COMMON STOCKS (Cost $627,161,065) | TOTAL COMMON STOCKS (Cost $627,161,065) | $545522853 |
| **PREFERRED SECURITIES – 0.9%** |  |  |
| **Information technology – 0.9%** |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES (continued)** |  |  |
| **Software – 0.9%** | **Software – 0.9%** |  |
| Essence Group Holdings Corp. (A)(C)(D) | &nbsp;&nbsp;1663188 | $&nbsp;&nbsp;&nbsp;&nbsp;3376272 |
| Lookout, Inc., Series F (A)(C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;211003 | &nbsp;&nbsp;&nbsp;&nbsp;1601513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4977785 |
| TOTAL PREFERRED SECURITIES (Cost $5,070,285) | TOTAL PREFERRED SECURITIES (Cost $5,070,285) | $&nbsp;&nbsp;&nbsp;&nbsp;4977785 |
| **SHORT-TERM INVESTMENTS – 4.8%** | **SHORT-TERM INVESTMENTS – 4.8%** |  |
| **Short-term funds – 2.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | &nbsp;&nbsp;1584624 | &nbsp;&nbsp;&nbsp;15839582 |
| **Repurchase agreement – 2.0%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 12-30-22 at 4.290% to be repurchased at $11,205,339 on 1-3-23, collateralized by $11,447,324 Federal National Mortgage Association, 3.500% - 4.500% due 8-1-48 to 4-1-52 (valued at $11,424,000) | $11200000 | &nbsp;&nbsp;&nbsp;11200000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $27,039,856) | TOTAL SHORT-TERM INVESTMENTS (Cost $27,039,856) | $&nbsp;&nbsp;&nbsp;27039582 |
| **Total Investments (Mid Cap Growth Trust)<br> (Cost $659,271,206) – 102.8%** | **Total Investments (Mid Cap Growth Trust)<br> (Cost $659,271,206) – 102.8%** | $**577540220** |
| **Other assets and liabilities, net – (2.8%)** | **Other assets and liabilities, net – (2.8%)** | &nbsp;&nbsp;**(15737931)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**561802289** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | Restricted security as to resale. For more information on this security refer to the Notes to financial statements. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Mid Cap Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.2%** | **COMMON STOCKS – 97.2%** |  |
| **Communication services – 2.0%** |  |  |
| **Diversified telecommunication services – 0.6%** | **Diversified telecommunication services – 0.6%** |  |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119768 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051689 |
| Iridium Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469192 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520881 |
| **Entertainment – 0.1%** | **Entertainment – 0.1%** |  |
| World Wrestling Entertainment, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593775 |
| **Interactive media and services – 0.3%** | **Interactive media and services – 0.3%** |  |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012076 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005264 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3017340 |
| **Media – 1.0%** | **Media – 1.0%** |  |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843717 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924024 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3545408 |
| TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539664 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| The New York Times Company, Class A | &nbsp;&nbsp;88441 | $&nbsp;&nbsp;&nbsp;2870795 |
|  |  | 11723608 |
|  |  | 22855604 |
| **Consumer discretionary – 13.6%** |  |  |
| **Auto components – 1.4%** | **Auto components – 1.4%** |  |
| Adient PLC (A) | &nbsp;&nbsp;50933 | &nbsp;&nbsp;&nbsp;1766866 |
| Dana, Inc. | &nbsp;&nbsp;68537 | &nbsp;&nbsp;&nbsp;1036965 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;22705 | &nbsp;&nbsp;&nbsp;2071377 |
| Gentex Corp. | 126014 | &nbsp;&nbsp;&nbsp;3436402 |
| Lear Corp. | &nbsp;&nbsp;31751 | &nbsp;&nbsp;&nbsp;3937759 |
| The Goodyear Tire & Rubber Company (A) | 151950 | &nbsp;&nbsp;&nbsp;1542293 |
| Visteon Corp. (A) | &nbsp;&nbsp;15118 | &nbsp;&nbsp;&nbsp;1977888 |
|  |  | 15769550 |
| **Automobiles – 0.5%** | **Automobiles – 0.5%** |  |
| Harley-Davidson, Inc. | &nbsp;&nbsp;71461 | &nbsp;&nbsp;&nbsp;2972778 |
| Thor Industries, Inc. | &nbsp;&nbsp;28837 | &nbsp;&nbsp;&nbsp;2176905 |
|  |  | &nbsp;&nbsp;&nbsp;5149683 |
| **Diversified consumer services – 1.0%** | **Diversified consumer services – 1.0%** |  |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;2062 | &nbsp;&nbsp;&nbsp;1245881 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;16476 | &nbsp;&nbsp;&nbsp;1740854 |
| H&R Block, Inc. | &nbsp;&nbsp;83516 | &nbsp;&nbsp;&nbsp;3049169 |
| Service Corp. International | &nbsp;&nbsp;82623 | &nbsp;&nbsp;&nbsp;5712554 |
|  |  | 11748458 |
| **Hotels, restaurants and leisure – 2.7%** | **Hotels, restaurants and leisure – 2.7%** |  |
| Boyd Gaming Corp. | &nbsp;&nbsp;42612 | &nbsp;&nbsp;&nbsp;2323632 |
| Choice Hotels International, Inc. | &nbsp;&nbsp;14888 | &nbsp;&nbsp;&nbsp;1676984 |
| Churchill Downs, Inc. | &nbsp;&nbsp;17681 | &nbsp;&nbsp;&nbsp;3738294 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;11908 | &nbsp;&nbsp;&nbsp;1128164 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;50320 | &nbsp;&nbsp;&nbsp;2948752 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;20585 | &nbsp;&nbsp;&nbsp;2770535 |
| Papa John's International, Inc. | &nbsp;&nbsp;17270 | &nbsp;&nbsp;&nbsp;1421494 |
| Penn Entertainment, Inc. (A)(B) | &nbsp;&nbsp;83327 | &nbsp;&nbsp;&nbsp;2474812 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;35946 | &nbsp;&nbsp;&nbsp;3269289 |
| The Wendy's Company | &nbsp;&nbsp;91548 | &nbsp;&nbsp;&nbsp;2071731 |
| Travel + Leisure Company | &nbsp;&nbsp;43663 | &nbsp;&nbsp;&nbsp;1589333 |
| Wingstop, Inc. | &nbsp;&nbsp;16070 | &nbsp;&nbsp;&nbsp;2211553 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;47447 | &nbsp;&nbsp;&nbsp;3383446 |
|  |  | 31008019 |
| **Household durables – 1.4%** | **Household durables – 1.4%** |  |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;12887 | &nbsp;&nbsp;&nbsp;1429297 |
| KB Home | &nbsp;&nbsp;44619 | &nbsp;&nbsp;&nbsp;1421115 |
| Leggett & Platt, Inc. (B) | &nbsp;&nbsp;71219 | &nbsp;&nbsp;&nbsp;2295388 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;58203 | &nbsp;&nbsp;&nbsp;1766461 |
| Tempur Sealy International, Inc. | &nbsp;&nbsp;91851 | &nbsp;&nbsp;&nbsp;3153245 |
| Toll Brothers, Inc. | &nbsp;&nbsp;56618 | &nbsp;&nbsp;&nbsp;2826371 |
| TopBuild Corp. (A) | &nbsp;&nbsp;17175 | &nbsp;&nbsp;&nbsp;2687716 |
|  |  | 15579593 |
| **Leisure products – 1.1%** | **Leisure products – 1.1%** |  |
| Brunswick Corp. | &nbsp;&nbsp;38950 | &nbsp;&nbsp;&nbsp;2807516 |
| Mattel, Inc. (A) | 190381 | &nbsp;&nbsp;&nbsp;3396397 |
| Polaris, Inc. | &nbsp;&nbsp;29267 | &nbsp;&nbsp;&nbsp;2955967 |
| Topgolf Callaway Brands Corp. (A) | &nbsp;&nbsp;74474 | &nbsp;&nbsp;&nbsp;1470862 |
| YETI Holdings, Inc. (A) | &nbsp;&nbsp;46331 | &nbsp;&nbsp;&nbsp;1913934 |
|  |  | 12544676 |
| **Multiline retail – 0.6%** | **Multiline retail – 0.6%** |  |
| Kohl's Corp. | &nbsp;&nbsp;62656 | &nbsp;&nbsp;&nbsp;1582064 |
| Macy's, Inc. | 145573 | &nbsp;&nbsp;&nbsp;3006082 |
| Nordstrom, Inc. (B) | &nbsp;&nbsp;59839 | &nbsp;&nbsp;&nbsp;&nbsp;965801 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multiline retail (continued)** | **Multiline retail (continued)** |  |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;31269 | $&nbsp;&nbsp;&nbsp;&nbsp;1464640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7018587 |
| **Specialty retail – 2.7%** | **Specialty retail – 2.7%** |  |
| AutoNation, Inc. (A) | &nbsp;&nbsp;18374 | &nbsp;&nbsp;&nbsp;&nbsp;1971530 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;29869 | &nbsp;&nbsp;&nbsp;&nbsp;3592942 |
| Five Below, Inc. (A) | &nbsp;&nbsp;29818 | &nbsp;&nbsp;&nbsp;&nbsp;5273910 |
| Foot Locker, Inc. (B) | &nbsp;&nbsp;42603 | &nbsp;&nbsp;&nbsp;&nbsp;1609967 |
| GameStop Corp., Class A (A)(B) | 135780 | &nbsp;&nbsp;&nbsp;&nbsp;2506499 |
| Lithia Motors, Inc. | &nbsp;&nbsp;14686 | &nbsp;&nbsp;&nbsp;&nbsp;3006812 |
| Murphy USA, Inc. | &nbsp;&nbsp;11166 | &nbsp;&nbsp;&nbsp;&nbsp;3121344 |
| RH (A) | &nbsp;&nbsp;10324 | &nbsp;&nbsp;&nbsp;&nbsp;2758470 |
| The Gap, Inc. | 113317 | &nbsp;&nbsp;&nbsp;&nbsp;1278216 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;43644 | &nbsp;&nbsp;&nbsp;&nbsp;1561582 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;35836 | &nbsp;&nbsp;&nbsp;&nbsp;4118273 |
|  |  | &nbsp;&nbsp;&nbsp;30799545 |
| **Textiles, apparel and luxury goods – 2.2%** | **Textiles, apparel and luxury goods – 2.2%** |  |
| Capri Holdings, Ltd. (A) | &nbsp;&nbsp;69186 | &nbsp;&nbsp;&nbsp;&nbsp;3965742 |
| Carter's, Inc. | &nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp;1529505 |
| Columbia Sportswear Company | &nbsp;&nbsp;19019 | &nbsp;&nbsp;&nbsp;&nbsp;1665684 |
| Crocs, Inc. (A) | &nbsp;&nbsp;33169 | &nbsp;&nbsp;&nbsp;&nbsp;3596515 |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;14218 | &nbsp;&nbsp;&nbsp;&nbsp;5675257 |
| Hanesbrands, Inc. | 187450 | &nbsp;&nbsp;&nbsp;&nbsp;1192182 |
| PVH Corp. | &nbsp;&nbsp;35036 | &nbsp;&nbsp;&nbsp;&nbsp;2473191 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;72097 | &nbsp;&nbsp;&nbsp;&nbsp;3024469 |
| Under Armour, Inc., Class A (A) | 101362 | &nbsp;&nbsp;&nbsp;&nbsp;1029838 |
| Under Armour, Inc., Class C (A) | 105839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944084 |
|  |  | &nbsp;&nbsp;&nbsp;25096467 |
|  |  | 154714578 |
| **Consumer staples – 3.9%** |  |  |
| **Beverages – 0.5%** | **Beverages – 0.5%** |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;21702 | &nbsp;&nbsp;&nbsp;&nbsp;2257876 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp;1267066 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5064 | &nbsp;&nbsp;&nbsp;&nbsp;1668689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5193631 |
| **Food and staples retailing – 1.5%** | **Food and staples retailing – 1.5%** |  |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;72557 | &nbsp;&nbsp;&nbsp;&nbsp;4800371 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;20013 | &nbsp;&nbsp;&nbsp;&nbsp;4489917 |
| Grocery Outlet Holding Corp. (A) | &nbsp;&nbsp;47554 | &nbsp;&nbsp;&nbsp;&nbsp;1388101 |
| Performance Food Group Company (A) | &nbsp;&nbsp;83626 | &nbsp;&nbsp;&nbsp;&nbsp;4882922 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;56862 | &nbsp;&nbsp;&nbsp;&nbsp;1840623 |
|  |  | &nbsp;&nbsp;&nbsp;17401934 |
| **Food products – 1.5%** | **Food products – 1.5%** |  |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;86096 | &nbsp;&nbsp;&nbsp;&nbsp;5388749 |
| Flowers Foods, Inc. | 103210 | &nbsp;&nbsp;&nbsp;&nbsp;2966255 |
| Ingredion, Inc. | &nbsp;&nbsp;35215 | &nbsp;&nbsp;&nbsp;&nbsp;3448605 |
| Lancaster Colony Corp. | &nbsp;&nbsp;10657 | &nbsp;&nbsp;&nbsp;&nbsp;2102626 |
| Pilgrim's Pride Corp. (A) | &nbsp;&nbsp;24135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572724 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;29212 | &nbsp;&nbsp;&nbsp;&nbsp;2636675 |
|  |  | &nbsp;&nbsp;&nbsp;17115634 |
| **Household products – 0.1%** | **Household products – 0.1%** |  |
| Energizer Holdings, Inc. | &nbsp;&nbsp;35598 | &nbsp;&nbsp;&nbsp;&nbsp;1194313 |
| **Personal products – 0.3%** | **Personal products – 0.3%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;72759 | &nbsp;&nbsp;&nbsp;&nbsp;1865541 |
| Coty, Inc., Class A (A) | 196368 | &nbsp;&nbsp;&nbsp;&nbsp;1680910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3546451 |
|  |  | &nbsp;&nbsp;&nbsp;44451963 |
| **Energy – 3.8%** |  |  |
| **Energy equipment and services – 0.7%** | **Energy equipment and services – 0.7%** |  |
| ChampionX Corp. | 107094 | &nbsp;&nbsp;&nbsp;&nbsp;3104655 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy equipment and services (continued)** | **Energy equipment and services (continued)** |  |
| NOV, Inc. | 211010 | $&nbsp;&nbsp;&nbsp;4407999 |
|  |  | &nbsp;&nbsp;&nbsp;7512654 |
| **Oil, gas and consumable fuels – 3.1%** | **Oil, gas and consumable fuels – 3.1%** |  |
| Antero Midstream Corp. | 179925 | &nbsp;&nbsp;&nbsp;1941391 |
| Antero Resources Corp. (A) | 148331 | &nbsp;&nbsp;&nbsp;4596778 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;96951 | &nbsp;&nbsp;&nbsp;1632655 |
| DT Midstream, Inc. | &nbsp;&nbsp;51973 | &nbsp;&nbsp;&nbsp;2872028 |
| Equitrans Midstream Corp. | 232484 | &nbsp;&nbsp;&nbsp;1557643 |
| HF Sinclair Corp. | &nbsp;&nbsp;72246 | &nbsp;&nbsp;&nbsp;3748845 |
| Matador Resources Company | &nbsp;&nbsp;60301 | &nbsp;&nbsp;&nbsp;3451629 |
| Murphy Oil Corp. | &nbsp;&nbsp;78498 | &nbsp;&nbsp;&nbsp;3376199 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;61398 | &nbsp;&nbsp;&nbsp;2503810 |
| PDC Energy, Inc. | &nbsp;&nbsp;49499 | &nbsp;&nbsp;&nbsp;3142197 |
| Range Resources Corp. | 129804 | &nbsp;&nbsp;&nbsp;3247696 |
| Southwestern Energy Company (A) | 592830 | &nbsp;&nbsp;&nbsp;3468056 |
|  |  | 35538927 |
|  |  | 43051581 |
| **Financials – 14.7%** |  |  |
| **Banks – 7.0%** | **Banks – 7.0%** |  |
| Associated Banc-Corp. | &nbsp;&nbsp;80771 | &nbsp;&nbsp;&nbsp;1865002 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;21494 | &nbsp;&nbsp;&nbsp;1667075 |
| Bank OZK | &nbsp;&nbsp;59464 | &nbsp;&nbsp;&nbsp;2382128 |
| Cadence Bank | &nbsp;&nbsp;98007 | &nbsp;&nbsp;&nbsp;2416853 |
| Cathay General Bancorp | &nbsp;&nbsp;39974 | &nbsp;&nbsp;&nbsp;1630539 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;61261 | &nbsp;&nbsp;&nbsp;4170036 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;34541 | &nbsp;&nbsp;&nbsp;4618132 |
| East West Bancorp, Inc. | &nbsp;&nbsp;75715 | &nbsp;&nbsp;&nbsp;4989619 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;69729 | &nbsp;&nbsp;&nbsp;2398678 |
| First Horizon Corp. | 288261 | &nbsp;&nbsp;&nbsp;7062395 |
| FNB Corp. | 188437 | &nbsp;&nbsp;&nbsp;2459103 |
| Fulton Financial Corp. | &nbsp;&nbsp;89975 | &nbsp;&nbsp;&nbsp;1514279 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;59503 | &nbsp;&nbsp;&nbsp;2940638 |
| Hancock Whitney Corp. | &nbsp;&nbsp;46033 | &nbsp;&nbsp;&nbsp;2227537 |
| Home BancShares, Inc. | 101900 | &nbsp;&nbsp;&nbsp;2322301 |
| International Bancshares Corp. | &nbsp;&nbsp;28362 | &nbsp;&nbsp;&nbsp;1297845 |
| Old National Bancorp | 157336 | &nbsp;&nbsp;&nbsp;2828901 |
| PacWest Bancorp | &nbsp;&nbsp;63286 | &nbsp;&nbsp;&nbsp;1452414 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;41071 | &nbsp;&nbsp;&nbsp;3014611 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;49050 | &nbsp;&nbsp;&nbsp;3564954 |
| Synovus Financial Corp. | &nbsp;&nbsp;78138 | &nbsp;&nbsp;&nbsp;2934082 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;26805 | &nbsp;&nbsp;&nbsp;1616610 |
| UMB Financial Corp. | &nbsp;&nbsp;23357 | &nbsp;&nbsp;&nbsp;1950777 |
| Umpqua Holdings Corp. | 116600 | &nbsp;&nbsp;&nbsp;2081310 |
| United Bankshares, Inc. | &nbsp;&nbsp;72337 | &nbsp;&nbsp;&nbsp;2928925 |
| Valley National Bancorp | 225766 | &nbsp;&nbsp;&nbsp;2553413 |
| Washington Federal, Inc. | &nbsp;&nbsp;35094 | &nbsp;&nbsp;&nbsp;1177404 |
| Webster Financial Corp. | &nbsp;&nbsp;93476 | &nbsp;&nbsp;&nbsp;4425154 |
| Wintrust Financial Corp. | &nbsp;&nbsp;32642 | &nbsp;&nbsp;&nbsp;2758902 |
|  |  | 79249617 |
| **Capital markets – 2.0%** | **Capital markets – 2.0%** |  |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;20235 | &nbsp;&nbsp;&nbsp;3205831 |
| Evercore, Inc., Class A | &nbsp;&nbsp;19194 | &nbsp;&nbsp;&nbsp;2093682 |
| Federated Hermes, Inc. | &nbsp;&nbsp;45412 | &nbsp;&nbsp;&nbsp;1648910 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;55262 | &nbsp;&nbsp;&nbsp;3998206 |
| Janus Henderson Group PLC | &nbsp;&nbsp;71191 | &nbsp;&nbsp;&nbsp;1674412 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;98408 | &nbsp;&nbsp;&nbsp;3373426 |
| SEI Investments Company | &nbsp;&nbsp;55045 | &nbsp;&nbsp;&nbsp;3209124 |
| Stifel Financial Corp. | &nbsp;&nbsp;57093 | &nbsp;&nbsp;&nbsp;3332518 |
|  |  | 22536109 |
| **Consumer finance – 0.4%** | **Consumer finance – 0.4%** |  |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;20154 | &nbsp;&nbsp;&nbsp;1751584 |
| Navient Corp. | &nbsp;&nbsp;56823 | &nbsp;&nbsp;&nbsp;&nbsp;934738 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer finance (continued)** | **Consumer finance (continued)** |  |
| SLM Corp. | 134402 | $&nbsp;&nbsp;&nbsp;&nbsp;2231073 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4917395 |
| **Diversified financial services – 0.3%** | **Diversified financial services – 0.3%** |  |
| Voya Financial, Inc. | &nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp;3209778 |
| **Insurance – 3.9%** | **Insurance – 3.9%** |  |
| American Financial Group, Inc. | &nbsp;&nbsp;37505 | &nbsp;&nbsp;&nbsp;&nbsp;5148686 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;37136 | &nbsp;&nbsp;&nbsp;&nbsp;1903963 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;61456 | &nbsp;&nbsp;&nbsp;&nbsp;1404270 |
| First American Financial Corp. | &nbsp;&nbsp;55621 | &nbsp;&nbsp;&nbsp;&nbsp;2911203 |
| Kemper Corp. | &nbsp;&nbsp;34318 | &nbsp;&nbsp;&nbsp;&nbsp;1688446 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;11576 | &nbsp;&nbsp;&nbsp;&nbsp;3027356 |
| Old Republic International Corp. | 152026 | &nbsp;&nbsp;&nbsp;&nbsp;3671428 |
| Primerica, Inc. | &nbsp;&nbsp;19821 | &nbsp;&nbsp;&nbsp;&nbsp;2811014 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;35903 | &nbsp;&nbsp;&nbsp;&nbsp;5101457 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;23476 | &nbsp;&nbsp;&nbsp;&nbsp;4324983 |
| RLI Corp. | &nbsp;&nbsp;21695 | &nbsp;&nbsp;&nbsp;&nbsp;2847903 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;32379 | &nbsp;&nbsp;&nbsp;&nbsp;2869103 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;19104 | &nbsp;&nbsp;&nbsp;&nbsp;2581524 |
| Unum Group | 100456 | &nbsp;&nbsp;&nbsp;&nbsp;4121710 |
|  |  | &nbsp;&nbsp;&nbsp;44413046 |
| **Mortgage real estate investment trusts – 0.5%** | **Mortgage real estate investment trusts – 0.5%** |  |
| Annaly Capital Management, Inc. | 251332 | &nbsp;&nbsp;&nbsp;&nbsp;5298079 |
| **Thrifts and mortgage finance – 0.6%** | **Thrifts and mortgage finance – 0.6%** |  |
| Essent Group, Ltd. | &nbsp;&nbsp;57859 | &nbsp;&nbsp;&nbsp;&nbsp;2249558 |
| MGIC Investment Corp. | 159558 | &nbsp;&nbsp;&nbsp;&nbsp;2074254 |
| New York Community Bancorp, Inc. | 365443 | &nbsp;&nbsp;&nbsp;&nbsp;3142810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7466622 |
|  |  | 167090646 |
| **Health care – 9.9%** |  |  |
| **Biotechnology – 2.0%** | **Biotechnology – 2.0%** |  |
| Arrowhead Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;56861 | &nbsp;&nbsp;&nbsp;&nbsp;2306282 |
| Exelixis, Inc. (A) | 173276 | &nbsp;&nbsp;&nbsp;&nbsp;2779347 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;72635 | &nbsp;&nbsp;&nbsp;&nbsp;4132932 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;51642 | &nbsp;&nbsp;&nbsp;&nbsp;6168120 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;24483 | &nbsp;&nbsp;&nbsp;&nbsp;6808477 |
|  |  | &nbsp;&nbsp;&nbsp;22195158 |
| **Health care equipment and supplies – 3.4%** | **Health care equipment and supplies – 3.4%** |  |
| Enovis Corp. (A) | &nbsp;&nbsp;25597 | &nbsp;&nbsp;&nbsp;&nbsp;1369951 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;87586 | &nbsp;&nbsp;&nbsp;&nbsp;2949021 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;41585 | &nbsp;&nbsp;&nbsp;&nbsp;3088518 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;27186 | &nbsp;&nbsp;&nbsp;&nbsp;2138179 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;10822 | &nbsp;&nbsp;&nbsp;&nbsp;1704249 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;25940 | &nbsp;&nbsp;&nbsp;&nbsp;1648746 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;39032 | &nbsp;&nbsp;&nbsp;&nbsp;2188524 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;36976 | &nbsp;&nbsp;&nbsp;&nbsp;1884297 |
| LivaNova PLC (A) | &nbsp;&nbsp;28752 | &nbsp;&nbsp;&nbsp;&nbsp;1596886 |
| Masimo Corp. (A) | &nbsp;&nbsp;25978 | &nbsp;&nbsp;&nbsp;&nbsp;3843445 |
| Neogen Corp. (A) | 116091 | &nbsp;&nbsp;&nbsp;&nbsp;1768066 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;23985 | &nbsp;&nbsp;&nbsp;&nbsp;1209324 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;20402 | &nbsp;&nbsp;&nbsp;&nbsp;4538629 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;28738 | &nbsp;&nbsp;&nbsp;&nbsp;2461984 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;19415 | &nbsp;&nbsp;&nbsp;&nbsp;3991918 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;25896 | &nbsp;&nbsp;&nbsp;&nbsp;1256992 |
| Tandem Diabetes Care, Inc. (A) | &nbsp;&nbsp;34541 | &nbsp;&nbsp;&nbsp;&nbsp;1552618 |
|  |  | &nbsp;&nbsp;&nbsp;39191347 |
| **Health care providers and services – 2.4%** | **Health care providers and services – 2.4%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;48872 | &nbsp;&nbsp;&nbsp;&nbsp;4023143 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;17454 | &nbsp;&nbsp;&nbsp;&nbsp;1458107 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;7988 | &nbsp;&nbsp;&nbsp;&nbsp;4077315 |
| Encompass Health Corp. | &nbsp;&nbsp;53605 | &nbsp;&nbsp;&nbsp;&nbsp;3206115 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;45409 | &nbsp;&nbsp;&nbsp;&nbsp;2799011 |
| LHC Group, Inc. (A) | &nbsp;&nbsp;16668 | &nbsp;&nbsp;&nbsp;&nbsp;2695049 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;83058 | $&nbsp;&nbsp;&nbsp;&nbsp;2499215 |
| Patterson Companies, Inc. | &nbsp;&nbsp;46536 | &nbsp;&nbsp;&nbsp;&nbsp;1304404 |
| Progyny, Inc. (A) | &nbsp;&nbsp;40415 | &nbsp;&nbsp;&nbsp;&nbsp;1258927 |
| R1 RCM, Inc. (A) | &nbsp;&nbsp;73835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808493 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;58082 | &nbsp;&nbsp;&nbsp;&nbsp;2833821 |
|  |  | &nbsp;&nbsp;&nbsp;26963600 |
| **Life sciences tools and services – 1.4%** | **Life sciences tools and services – 1.4%** |  |
| Azenta, Inc. (A) | &nbsp;&nbsp;40300 | &nbsp;&nbsp;&nbsp;&nbsp;2346266 |
| Bruker Corp. | &nbsp;&nbsp;53728 | &nbsp;&nbsp;&nbsp;&nbsp;3672309 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;13532 | &nbsp;&nbsp;&nbsp;&nbsp;2874332 |
| Repligen Corp. (A) | &nbsp;&nbsp;27739 | &nbsp;&nbsp;&nbsp;&nbsp;4696490 |
| Sotera Health Company (A) | &nbsp;&nbsp;53041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441832 |
| Syneos Health, Inc. (A) | &nbsp;&nbsp;55279 | &nbsp;&nbsp;&nbsp;&nbsp;2027634 |
|  |  | &nbsp;&nbsp;&nbsp;16058863 |
| **Pharmaceuticals – 0.7%** | **Pharmaceuticals – 0.7%** |  |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;33825 | &nbsp;&nbsp;&nbsp;&nbsp;5388661 |
| Perrigo Company PLC | &nbsp;&nbsp;72327 | &nbsp;&nbsp;&nbsp;&nbsp;2465627 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7854288 |
|  |  | 112263256 |
| **Industrials – 19.2%** |  |  |
| **Aerospace and defense – 1.5%** | **Aerospace and defense – 1.5%** |  |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;36318 | &nbsp;&nbsp;&nbsp;&nbsp;6026246 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;20579 | &nbsp;&nbsp;&nbsp;&nbsp;3436487 |
| Hexcel Corp. | &nbsp;&nbsp;45216 | &nbsp;&nbsp;&nbsp;&nbsp;2660962 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;31147 | &nbsp;&nbsp;&nbsp;&nbsp;1393517 |
| Woodward, Inc. | &nbsp;&nbsp;32319 | &nbsp;&nbsp;&nbsp;&nbsp;3122339 |
|  |  | &nbsp;&nbsp;&nbsp;16639551 |
| **Air freight and logistics – 0.2%** | **Air freight and logistics – 0.2%** |  |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;63731 | &nbsp;&nbsp;&nbsp;&nbsp;2720676 |
| **Airlines – 0.1%** | **Airlines – 0.1%** |  |
| JetBlue Airways Corp. (A) | 173985 | &nbsp;&nbsp;&nbsp;&nbsp;1127423 |
| **Building products – 2.5%** | **Building products – 2.5%** |  |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;79061 | &nbsp;&nbsp;&nbsp;&nbsp;5129478 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;27781 | &nbsp;&nbsp;&nbsp;&nbsp;6546593 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;68891 | &nbsp;&nbsp;&nbsp;&nbsp;3934365 |
| Lennox International, Inc. | &nbsp;&nbsp;17324 | &nbsp;&nbsp;&nbsp;&nbsp;4144421 |
| Owens Corning | &nbsp;&nbsp;50203 | &nbsp;&nbsp;&nbsp;&nbsp;4282316 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;22883 | &nbsp;&nbsp;&nbsp;&nbsp;2028807 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;58950 | &nbsp;&nbsp;&nbsp;&nbsp;2495354 |
|  |  | &nbsp;&nbsp;&nbsp;28561334 |
| **Commercial services and supplies – 1.5%** | **Commercial services and supplies – 1.5%** |  |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;27015 | &nbsp;&nbsp;&nbsp;&nbsp;3082952 |
| IAA, Inc. (A) | &nbsp;&nbsp;71857 | &nbsp;&nbsp;&nbsp;&nbsp;2874280 |
| MSA Safety, Inc. | &nbsp;&nbsp;19793 | &nbsp;&nbsp;&nbsp;&nbsp;2853953 |
| Stericycle, Inc. (A) | &nbsp;&nbsp;49520 | &nbsp;&nbsp;&nbsp;&nbsp;2470553 |
| Tetra Tech, Inc. | &nbsp;&nbsp;28461 | &nbsp;&nbsp;&nbsp;&nbsp;4132253 |
| The Brink's Company | &nbsp;&nbsp;24952 | &nbsp;&nbsp;&nbsp;&nbsp;1340172 |
|  |  | &nbsp;&nbsp;&nbsp;16754163 |
| **Construction and engineering – 2.1%** | **Construction and engineering – 2.1%** |  |
| AECOM | &nbsp;&nbsp;75018 | &nbsp;&nbsp;&nbsp;&nbsp;6371279 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;15824 | &nbsp;&nbsp;&nbsp;&nbsp;1481126 |
| EMCOR Group, Inc. | &nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;&nbsp;3791616 |
| Fluor Corp. (A) | &nbsp;&nbsp;76328 | &nbsp;&nbsp;&nbsp;&nbsp;2645528 |
| MasTec, Inc. (A) | &nbsp;&nbsp;31674 | &nbsp;&nbsp;&nbsp;&nbsp;2702742 |
| MDU Resources Group, Inc. | 109238 | &nbsp;&nbsp;&nbsp;&nbsp;3314281 |
| Valmont Industries, Inc. | &nbsp;&nbsp;11460 | &nbsp;&nbsp;&nbsp;&nbsp;3789478 |
|  |  | &nbsp;&nbsp;&nbsp;24096050 |
| **Electrical equipment – 2.1%** | **Electrical equipment – 2.1%** |  |
| Acuity Brands, Inc. | &nbsp;&nbsp;17275 | &nbsp;&nbsp;&nbsp;&nbsp;2860913 |
| EnerSys | &nbsp;&nbsp;21933 | &nbsp;&nbsp;&nbsp;&nbsp;1619533 |
| Hubbell, Inc. | &nbsp;&nbsp;28850 | &nbsp;&nbsp;&nbsp;&nbsp;6770518 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| nVent Electric PLC | &nbsp;&nbsp;89488 | $&nbsp;&nbsp;&nbsp;&nbsp;3442603 |
| Regal Rexnord Corp. | &nbsp;&nbsp;35535 | &nbsp;&nbsp;&nbsp;&nbsp;4263489 |
| SunPower Corp. (A) | &nbsp;&nbsp;45849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826657 |
| Sunrun, Inc. (A) | 114477 | &nbsp;&nbsp;&nbsp;&nbsp;2749738 |
| Vicor Corp. (A) | &nbsp;&nbsp;11974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643603 |
|  |  | &nbsp;&nbsp;&nbsp;23177054 |
| **Machinery – 4.5%** | **Machinery – 4.5%** |  |
| AGCO Corp. | &nbsp;&nbsp;33261 | &nbsp;&nbsp;&nbsp;&nbsp;4612968 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;19271 | &nbsp;&nbsp;&nbsp;&nbsp;2220597 |
| Crane Holdings Company | &nbsp;&nbsp;25636 | &nbsp;&nbsp;&nbsp;&nbsp;2575136 |
| Donaldson Company, Inc. | &nbsp;&nbsp;65784 | &nbsp;&nbsp;&nbsp;&nbsp;3872704 |
| Esab Corp. | &nbsp;&nbsp;27754 | &nbsp;&nbsp;&nbsp;&nbsp;1302218 |
| Flowserve Corp. | &nbsp;&nbsp;70208 | &nbsp;&nbsp;&nbsp;&nbsp;2153981 |
| Graco, Inc. | &nbsp;&nbsp;90532 | &nbsp;&nbsp;&nbsp;&nbsp;6089182 |
| ITT, Inc. | &nbsp;&nbsp;44425 | &nbsp;&nbsp;&nbsp;&nbsp;3602868 |
| Kennametal, Inc. | &nbsp;&nbsp;43284 | &nbsp;&nbsp;&nbsp;&nbsp;1041413 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;31016 | &nbsp;&nbsp;&nbsp;&nbsp;4481502 |
| Oshkosh Corp. | &nbsp;&nbsp;35129 | &nbsp;&nbsp;&nbsp;&nbsp;3098027 |
| Terex Corp. | &nbsp;&nbsp;36260 | &nbsp;&nbsp;&nbsp;&nbsp;1549027 |
| The Middleby Corp. (A) | &nbsp;&nbsp;28946 | &nbsp;&nbsp;&nbsp;&nbsp;3875869 |
| The Timken Company | &nbsp;&nbsp;35560 | &nbsp;&nbsp;&nbsp;&nbsp;2513025 |
| The Toro Company | &nbsp;&nbsp;55977 | &nbsp;&nbsp;&nbsp;&nbsp;6336596 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;14657 | &nbsp;&nbsp;&nbsp;&nbsp;2143293 |
|  |  | &nbsp;&nbsp;&nbsp;51468406 |
| **Marine – 0.2%** | **Marine – 0.2%** |  |
| Kirby Corp. (A) | &nbsp;&nbsp;32176 | &nbsp;&nbsp;&nbsp;&nbsp;2070526 |
| **Professional services – 1.8%** | **Professional services – 1.8%** |  |
| ASGN, Inc. (A) | &nbsp;&nbsp;26806 | &nbsp;&nbsp;&nbsp;&nbsp;2184153 |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;12622 | &nbsp;&nbsp;&nbsp;&nbsp;3794047 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;18492 | &nbsp;&nbsp;&nbsp;&nbsp;2936530 |
| Insperity, Inc. | &nbsp;&nbsp;19155 | &nbsp;&nbsp;&nbsp;&nbsp;2176008 |
| KBR, Inc. | &nbsp;&nbsp;73700 | &nbsp;&nbsp;&nbsp;&nbsp;3891360 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;27159 | &nbsp;&nbsp;&nbsp;&nbsp;2259900 |
| Science Applications International Corp. | &nbsp;&nbsp;29614 | &nbsp;&nbsp;&nbsp;&nbsp;3285081 |
|  |  | &nbsp;&nbsp;&nbsp;20527079 |
| **Road and rail – 1.7%** | **Road and rail – 1.7%** |  |
| Avis Budget Group, Inc. (A) | &nbsp;&nbsp;13365 | &nbsp;&nbsp;&nbsp;&nbsp;2190924 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;86324 | &nbsp;&nbsp;&nbsp;&nbsp;4524241 |
| Landstar System, Inc. | &nbsp;&nbsp;19298 | &nbsp;&nbsp;&nbsp;&nbsp;3143644 |
| RXO, Inc. (A) | &nbsp;&nbsp;61838 | &nbsp;&nbsp;&nbsp;&nbsp;1063614 |
| Ryder System, Inc. | &nbsp;&nbsp;26994 | &nbsp;&nbsp;&nbsp;&nbsp;2255889 |
| Saia, Inc. (A) | &nbsp;&nbsp;14215 | &nbsp;&nbsp;&nbsp;&nbsp;2980601 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;31575 | &nbsp;&nbsp;&nbsp;&nbsp;1271210 |
| XPO, Inc. (A) | &nbsp;&nbsp;61864 | &nbsp;&nbsp;&nbsp;&nbsp;2059453 |
|  |  | &nbsp;&nbsp;&nbsp;19489576 |
| **Trading companies and distributors – 1.0%** | **Trading companies and distributors – 1.0%** |  |
| GATX Corp. | &nbsp;&nbsp;18909 | &nbsp;&nbsp;&nbsp;&nbsp;2010783 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;25366 | &nbsp;&nbsp;&nbsp;&nbsp;2072402 |
| Univar Solutions, Inc. (A) | &nbsp;&nbsp;87651 | &nbsp;&nbsp;&nbsp;&nbsp;2787302 |
| Watsco, Inc. | &nbsp;&nbsp;17868 | &nbsp;&nbsp;&nbsp;&nbsp;4456279 |
|  |  | &nbsp;&nbsp;&nbsp;11326766 |
|  |  | 217958604 |
| **Information technology – 11.8%** |  |  |
| **Communications equipment – 0.8%** | **Communications equipment – 0.8%** |  |
| Calix, Inc. (A) | &nbsp;&nbsp;30584 | &nbsp;&nbsp;&nbsp;&nbsp;2092863 |
| Ciena Corp. (A) | &nbsp;&nbsp;79580 | &nbsp;&nbsp;&nbsp;&nbsp;4056988 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;36636 | &nbsp;&nbsp;&nbsp;&nbsp;1911300 |
| Viasat, Inc. (A) | &nbsp;&nbsp;40604 | &nbsp;&nbsp;&nbsp;&nbsp;1285117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9346268 |
| **Electronic equipment, instruments and components – 3.0%** | **Electronic equipment, instruments and components – 3.0%** |  |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;33041 | &nbsp;&nbsp;&nbsp;&nbsp;3455097 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Avnet, Inc. | &nbsp;&nbsp;49162 | $&nbsp;&nbsp;&nbsp;&nbsp;2044156 |
| Belden, Inc. | &nbsp;&nbsp;22995 | &nbsp;&nbsp;&nbsp;&nbsp;1653341 |
| Cognex Corp. | &nbsp;&nbsp;92896 | &nbsp;&nbsp;&nbsp;&nbsp;4376331 |
| Coherent Corp. (A) | &nbsp;&nbsp;74503 | &nbsp;&nbsp;&nbsp;&nbsp;2615055 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;17271 | &nbsp;&nbsp;&nbsp;&nbsp;1635046 |
| Jabil, Inc. | &nbsp;&nbsp;72326 | &nbsp;&nbsp;&nbsp;&nbsp;4932633 |
| Littelfuse, Inc. | &nbsp;&nbsp;13299 | &nbsp;&nbsp;&nbsp;&nbsp;2928440 |
| National Instruments Corp. | &nbsp;&nbsp;70140 | &nbsp;&nbsp;&nbsp;&nbsp;2588166 |
| Novanta, Inc. (A) | &nbsp;&nbsp;19172 | &nbsp;&nbsp;&nbsp;&nbsp;2604900 |
| TD SYNNEX Corp. | &nbsp;&nbsp;22584 | &nbsp;&nbsp;&nbsp;&nbsp;2138931 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;69603 | &nbsp;&nbsp;&nbsp;&nbsp;1501337 |
| Vontier Corp. | &nbsp;&nbsp;84872 | &nbsp;&nbsp;&nbsp;&nbsp;1640576 |
|  |  | &nbsp;&nbsp;&nbsp;34114009 |
| **IT services – 2.0%** | **IT services – 2.0%** |  |
| Concentrix Corp. | &nbsp;&nbsp;22760 | &nbsp;&nbsp;&nbsp;&nbsp;3030722 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;25309 | &nbsp;&nbsp;&nbsp;&nbsp;2388663 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;17762 | &nbsp;&nbsp;&nbsp;&nbsp;3009416 |
| Genpact, Ltd. | &nbsp;&nbsp;90568 | &nbsp;&nbsp;&nbsp;&nbsp;4195110 |
| Kyndryl Holdings, Inc. (A) | 109646 | &nbsp;&nbsp;&nbsp;&nbsp;1219264 |
| Maximus, Inc. | &nbsp;&nbsp;32527 | &nbsp;&nbsp;&nbsp;&nbsp;2385205 |
| The Western Union Company | 207446 | &nbsp;&nbsp;&nbsp;&nbsp;2856531 |
| WEX, Inc. (A) | &nbsp;&nbsp;23418 | &nbsp;&nbsp;&nbsp;&nbsp;3832356 |
|  |  | &nbsp;&nbsp;&nbsp;22917267 |
| **Semiconductors and semiconductor equipment – 2.5%** | **Semiconductors and semiconductor equipment – 2.5%** |  |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;34941 | &nbsp;&nbsp;&nbsp;&nbsp;1048929 |
| Amkor Technology, Inc. | &nbsp;&nbsp;53955 | &nbsp;&nbsp;&nbsp;&nbsp;1293841 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;29578 | &nbsp;&nbsp;&nbsp;&nbsp;2202969 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;73626 | &nbsp;&nbsp;&nbsp;&nbsp;4776855 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;27449 | &nbsp;&nbsp;&nbsp;&nbsp;1728738 |
| MKS Instruments, Inc. | &nbsp;&nbsp;30725 | &nbsp;&nbsp;&nbsp;&nbsp;2603329 |
| Power Integrations, Inc. | &nbsp;&nbsp;30726 | &nbsp;&nbsp;&nbsp;&nbsp;2203669 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;17879 | &nbsp;&nbsp;&nbsp;&nbsp;2425644 |
| SiTime Corp. (A) | &nbsp;&nbsp;&nbsp;8638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877794 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;21418 | &nbsp;&nbsp;&nbsp;&nbsp;2038137 |
| Universal Display Corp. | &nbsp;&nbsp;23345 | &nbsp;&nbsp;&nbsp;&nbsp;2522194 |
| Wolfspeed, Inc. (A) | &nbsp;&nbsp;66726 | &nbsp;&nbsp;&nbsp;&nbsp;4606763 |
|  |  | &nbsp;&nbsp;&nbsp;28328862 |
| **Software – 3.2%** | **Software – 3.2%** |  |
| ACI Worldwide, Inc. (A) | &nbsp;&nbsp;60366 | &nbsp;&nbsp;&nbsp;&nbsp;1388418 |
| Aspen Technology, Inc. (A) | &nbsp;&nbsp;15602 | &nbsp;&nbsp;&nbsp;&nbsp;3204651 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;23959 | &nbsp;&nbsp;&nbsp;&nbsp;1410227 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;23922 | &nbsp;&nbsp;&nbsp;&nbsp;1503258 |
| Dynatrace, Inc. (A) | 108242 | &nbsp;&nbsp;&nbsp;&nbsp;4145669 |
| Envestnet, Inc. (A) | &nbsp;&nbsp;29721 | &nbsp;&nbsp;&nbsp;&nbsp;1833786 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;13417 | &nbsp;&nbsp;&nbsp;&nbsp;8031136 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;33519 | &nbsp;&nbsp;&nbsp;&nbsp;4069207 |
| NCR Corp. (A) | &nbsp;&nbsp;73810 | &nbsp;&nbsp;&nbsp;&nbsp;1727892 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;22131 | &nbsp;&nbsp;&nbsp;&nbsp;4299168 |
| Qualys, Inc. (A) | &nbsp;&nbsp;18570 | &nbsp;&nbsp;&nbsp;&nbsp;2084111 |
| Teradata Corp. (A) | &nbsp;&nbsp;54686 | &nbsp;&nbsp;&nbsp;&nbsp;1840731 |
|  |  | &nbsp;&nbsp;&nbsp;35538254 |
| **Technology hardware, storage and peripherals – 0.3%** | **Technology hardware, storage and peripherals – 0.3%** |  |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;25281 | &nbsp;&nbsp;&nbsp;&nbsp;2075570 |
| Xerox Holdings Corp. | &nbsp;&nbsp;60183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2954242 |
|  |  | 133198902 |
| **Materials – 6.4%** |  |  |
| **Chemicals – 2.6%** | **Chemicals – 2.6%** |  |
| Ashland, Inc. | &nbsp;&nbsp;26756 | &nbsp;&nbsp;&nbsp;&nbsp;2877073 |
| Avient Corp. | &nbsp;&nbsp;45923 | &nbsp;&nbsp;&nbsp;&nbsp;1550360 |
| Cabot Corp. | &nbsp;&nbsp;30216 | &nbsp;&nbsp;&nbsp;&nbsp;2019637 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Ingevity Corp. (A) | &nbsp;&nbsp;18871 | $&nbsp;&nbsp;&nbsp;1329273 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;3659 | &nbsp;&nbsp;&nbsp;1138351 |
| Olin Corp. | &nbsp;&nbsp;68424 | &nbsp;&nbsp;&nbsp;3622367 |
| RPM International, Inc. | &nbsp;&nbsp;69350 | &nbsp;&nbsp;&nbsp;6758158 |
| Sensient Technologies Corp. | &nbsp;&nbsp;22582 | &nbsp;&nbsp;&nbsp;1646679 |
| The Chemours Company | &nbsp;&nbsp;81071 | &nbsp;&nbsp;&nbsp;2482394 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;21727 | &nbsp;&nbsp;&nbsp;1055715 |
| Valvoline, Inc. | &nbsp;&nbsp;95093 | &nbsp;&nbsp;&nbsp;3104786 |
| Westlake Corp. | &nbsp;&nbsp;18498 | &nbsp;&nbsp;&nbsp;1896785 |
|  |  | 29481578 |
| **Construction materials – 0.3%** | **Construction materials – 0.3%** |  |
| Eagle Materials, Inc. | &nbsp;&nbsp;19793 | &nbsp;&nbsp;&nbsp;2629500 |
| **Containers and packaging – 0.9%** | **Containers and packaging – 0.9%** |  |
| AptarGroup, Inc. | &nbsp;&nbsp;35070 | &nbsp;&nbsp;&nbsp;3856999 |
| Greif, Inc., Class A | &nbsp;&nbsp;13755 | &nbsp;&nbsp;&nbsp;&nbsp;922410 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;44941 | &nbsp;&nbsp;&nbsp;2329741 |
| Sonoco Products Company | &nbsp;&nbsp;52382 | &nbsp;&nbsp;&nbsp;3180111 |
|  |  | 10289261 |
| **Metals and mining – 2.4%** | **Metals and mining – 2.4%** |  |
| Alcoa Corp. | &nbsp;&nbsp;95048 | &nbsp;&nbsp;&nbsp;4321833 |
| Cleveland-Cliffs, Inc. (A) | 276814 | &nbsp;&nbsp;&nbsp;4459474 |
| Commercial Metals Company | &nbsp;&nbsp;63035 | &nbsp;&nbsp;&nbsp;3044591 |
| MP Materials Corp. (A) | &nbsp;&nbsp;49594 | &nbsp;&nbsp;&nbsp;1204142 |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;31528 | &nbsp;&nbsp;&nbsp;6382528 |
| Royal Gold, Inc. | &nbsp;&nbsp;35263 | &nbsp;&nbsp;&nbsp;3974845 |
| U.S. Steel Corp. | 125847 | &nbsp;&nbsp;&nbsp;3152467 |
| Worthington Industries, Inc. | &nbsp;&nbsp;16289 | &nbsp;&nbsp;&nbsp;&nbsp;809726 |
|  |  | 27349606 |
| **Paper and forest products – 0.2%** | **Paper and forest products – 0.2%** |  |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;38514 | &nbsp;&nbsp;&nbsp;2280029 |
|  |  | 72029974 |
| **Real estate – 7.9%** |  |  |
| **Equity real estate investment trusts – 7.5%** | **Equity real estate investment trusts – 7.5%** |  |
| Apartment Income REIT Corp. | &nbsp;&nbsp;80539 | &nbsp;&nbsp;&nbsp;2763293 |
| Brixmor Property Group, Inc. | 161109 | &nbsp;&nbsp;&nbsp;3652341 |
| Corporate Office Properties Trust | &nbsp;&nbsp;60392 | &nbsp;&nbsp;&nbsp;1566568 |
| Cousins Properties, Inc. | &nbsp;&nbsp;81349 | &nbsp;&nbsp;&nbsp;2057316 |
| CubeSmart | 120639 | &nbsp;&nbsp;&nbsp;4855720 |
| Douglas Emmett, Inc. | &nbsp;&nbsp;94431 | &nbsp;&nbsp;&nbsp;1480678 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;23407 | &nbsp;&nbsp;&nbsp;3465640 |
| EPR Properties | &nbsp;&nbsp;40300 | &nbsp;&nbsp;&nbsp;1520116 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;70981 | &nbsp;&nbsp;&nbsp;3425543 |
| Healthcare Realty Trust, Inc. | 204439 | &nbsp;&nbsp;&nbsp;3939540 |
| Highwoods Properties, Inc. | &nbsp;&nbsp;56511 | &nbsp;&nbsp;&nbsp;1581178 |
| Independence Realty Trust, Inc. | 120245 | &nbsp;&nbsp;&nbsp;2027331 |
| JBG SMITH Properties | &nbsp;&nbsp;53180 | &nbsp;&nbsp;&nbsp;1009356 |
| Kilroy Realty Corp. | &nbsp;&nbsp;56506 | &nbsp;&nbsp;&nbsp;2185087 |
| Kite Realty Group Trust | 117697 | &nbsp;&nbsp;&nbsp;2477522 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;46876 | &nbsp;&nbsp;&nbsp;4425094 |
| Life Storage, Inc. | &nbsp;&nbsp;45660 | &nbsp;&nbsp;&nbsp;4497510 |
| Medical Properties Trust, Inc. | 321238 | &nbsp;&nbsp;&nbsp;3578591 |
| National Retail Properties, Inc. | &nbsp;&nbsp;96013 | &nbsp;&nbsp;&nbsp;4393555 |
| National Storage Affiliates Trust | &nbsp;&nbsp;45395 | &nbsp;&nbsp;&nbsp;1639667 |
| Omega Healthcare Investors, Inc. | 125800 | &nbsp;&nbsp;&nbsp;3516110 |
| Park Hotels & Resorts, Inc. | 120784 | &nbsp;&nbsp;&nbsp;1424043 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;70626 | &nbsp;&nbsp;&nbsp;&nbsp;945682 |
| Physicians Realty Trust | 122619 | &nbsp;&nbsp;&nbsp;1774297 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;43392 | &nbsp;&nbsp;&nbsp;1908814 |
| Rayonier, Inc. | &nbsp;&nbsp;78657 | &nbsp;&nbsp;&nbsp;2592535 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;98570 | &nbsp;&nbsp;&nbsp;5385865 |
| Sabra Health Care REIT, Inc. | 124077 | &nbsp;&nbsp;&nbsp;1542277 |
| SL Green Realty Corp. | &nbsp;&nbsp;34550 | &nbsp;&nbsp;&nbsp;1165026 |
| Spirit Realty Capital, Inc. | &nbsp;&nbsp;75023 | &nbsp;&nbsp;&nbsp;2995668 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| STORE Capital Corp. | 142744 | $&nbsp;&nbsp;&nbsp;4576373 |
| The Macerich Company | 115380 | &nbsp;&nbsp;&nbsp;1299179 |
|  |  | 85667515 |
| **Real estate management and development – 0.4%** | **Real estate management and development – 0.4%** |  |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;25497 | &nbsp;&nbsp;&nbsp;4063457 |
|  |  | 89730972 |
| **Utilities – 4.0%** |  |  |
| **Electric utilities – 1.4%** | **Electric utilities – 1.4%** |  |
| ALLETE, Inc. | &nbsp;&nbsp;30707 | &nbsp;&nbsp;&nbsp;1980909 |
| Hawaiian Electric Industries, Inc. | &nbsp;&nbsp;58806 | &nbsp;&nbsp;&nbsp;2461031 |
| IDACORP, Inc. | &nbsp;&nbsp;27161 | &nbsp;&nbsp;&nbsp;2929314 |
| OGE Energy Corp. | 107547 | &nbsp;&nbsp;&nbsp;4253484 |
| PNM Resources, Inc. | &nbsp;&nbsp;46110 | &nbsp;&nbsp;&nbsp;2249707 |
| Portland General Electric Company | &nbsp;&nbsp;47957 | &nbsp;&nbsp;&nbsp;2349893 |
|  |  | 16224338 |
| **Gas utilities – 1.4%** | **Gas utilities – 1.4%** |  |
| National Fuel Gas Company | &nbsp;&nbsp;49141 | &nbsp;&nbsp;&nbsp;3110625 |
| New Jersey Resources Corp. | &nbsp;&nbsp;51693 | &nbsp;&nbsp;&nbsp;2565007 |
| ONE Gas, Inc. | &nbsp;&nbsp;29084 | &nbsp;&nbsp;&nbsp;2202240 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;33146 | &nbsp;&nbsp;&nbsp;2051074 |
| Spire, Inc. | &nbsp;&nbsp;28199 | &nbsp;&nbsp;&nbsp;1941783 |
| UGI Corp. | 112477 | &nbsp;&nbsp;&nbsp;4169522 |
|  |  | 16040251 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Ormat Technologies, Inc. | &nbsp;&nbsp;26194 | &nbsp;&nbsp;&nbsp;2265257 |
| **Multi-utilities – 0.4%** | **Multi-utilities – 0.4%** |  |
| Black Hills Corp. | &nbsp;&nbsp;34959 | &nbsp;&nbsp;&nbsp;2459016 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multi-utilities (continued)** | **Multi-utilities (continued)** |  |
| NorthWestern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31038 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841795 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300811 |
| **Water utilities – 0.6%** | **Water utilities – 0.6%** |  |
| Essential Utilities, Inc. | &nbsp;&nbsp;128219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6119893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;44950550 |
| TOTAL COMMON STOCKS (Cost $965,851,484) | TOTAL COMMON STOCKS (Cost $965,851,484) | $1102296630 |
| **SHORT-TERM INVESTMENTS – 3.3%** | **SHORT-TERM INVESTMENTS – 3.3%** |  |
| **Short-term funds – 3.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 3792295 | &nbsp;&nbsp;&nbsp;&nbsp;37907021 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $37,901,333) | TOTAL SHORT-TERM INVESTMENTS (Cost $37,901,333) | $&nbsp;&nbsp;&nbsp;&nbsp;37907021 |
| **Total Investments (Mid Cap Index Trust)<br> (Cost $1,003,752,817) – 100.5%** | **Total Investments (Mid Cap Index Trust)<br> (Cost $1,003,752,817) – 100.5%** | $**1140203651** |
| **Other assets and liabilities, net – (0.5%)** | **Other assets and liabilities, net – (0.5%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5939320)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**1134264331** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $4,111,681. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$33411797 | &nbsp;&nbsp;&nbsp;&nbsp;$32975100 | &nbsp;&nbsp;&nbsp;&nbsp;$(436697) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(436697)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Mid Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 95.5%** | **COMMON STOCKS – 95.5%** |  |
| **Communication services – 5.0%** |  |  |
| **Entertainment – 0.9%** | **Entertainment – 0.9%** |  |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54263 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440207 |
| Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921762 |
| **Media – 4.1%** | **Media – 4.1%** |  |
| DISH Network Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850374 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13145096 |
| Paramount Global, Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3967374 |

---

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| Scholastic Corp. | 110177 | $&nbsp;&nbsp;&nbsp;4347584 |
|  |  | 23310428 |
|  |  | 28232190 |
| **Consumer discretionary – 8.8%** |  |  |
| **Automobiles – 1.0%** | **Automobiles – 1.0%** |  |
| General Motors Company | 162733 | &nbsp;&nbsp;&nbsp;5474338 |
| **Diversified consumer services – 1.5%** | **Diversified consumer services – 1.5%** |  |
| Bright Horizons Family Solutions, Inc. (A) | &nbsp;&nbsp;68387 | &nbsp;&nbsp;&nbsp;4315220 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Diversified consumer services (continued)** | **Diversified consumer services (continued)** |  |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54346 | $&nbsp;&nbsp;&nbsp;4256379 |
|  |  | &nbsp;&nbsp;&nbsp;8571599 |
| **Hotels, restaurants and leisure – 0.9%** | **Hotels, restaurants and leisure – 0.9%** |  |
| Compass Group PLC | &nbsp;&nbsp;218009 | &nbsp;&nbsp;&nbsp;5034268 |
| **Household durables – 0.8%** | **Household durables – 0.8%** |  |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;45019 | &nbsp;&nbsp;&nbsp;4601842 |
| **Specialty retail – 2.6%** | **Specialty retail – 2.6%** |  |
| Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;89960 | &nbsp;&nbsp;&nbsp;3790914 |
| Best Buy Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58891 | &nbsp;&nbsp;&nbsp;4723647 |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;29780 | &nbsp;&nbsp;&nbsp;6038193 |
|  |  | 14552754 |
| **Textiles, apparel and luxury goods – 2.0%** | **Textiles, apparel and luxury goods – 2.0%** |  |
| adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;16490 | &nbsp;&nbsp;&nbsp;2234829 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;88289 | &nbsp;&nbsp;&nbsp;9329499 |
|  |  | 11564328 |
|  |  | 49799129 |
| **Consumer staples – 7.9%** |  |  |
| **Beverages – 2.6%** | **Beverages – 2.6%** |  |
| Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;41540 | &nbsp;&nbsp;&nbsp;5510154 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20427 | &nbsp;&nbsp;&nbsp;4733957 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44012 | &nbsp;&nbsp;&nbsp;4468538 |
|  |  | 14712649 |
| **Food and staples retailing – 1.5%** | **Food and staples retailing – 1.5%** |  |
| Sysco Corp. | &nbsp;&nbsp;113276 | &nbsp;&nbsp;&nbsp;8659950 |
| **Food products – 3.2%** | **Food products – 3.2%** |  |
| Bunge, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;51494 | &nbsp;&nbsp;&nbsp;5137556 |
| Campbell Soup Company | &nbsp;&nbsp;&nbsp;&nbsp;28927 | &nbsp;&nbsp;&nbsp;1641607 |
| Flowers Foods, Inc. | &nbsp;&nbsp;401560 | 11540834 |
|  |  | 18319997 |
| **Household products – 0.6%** | **Household products – 0.6%** |  |
| Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23549 | &nbsp;&nbsp;&nbsp;3196777 |
|  |  | 44889373 |
| **Energy – 8.8%** |  |  |
| **Energy equipment and services – 5.8%** | **Energy equipment and services – 5.8%** |  |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;301199 | &nbsp;&nbsp;&nbsp;5460738 |
| NOV, Inc. | &nbsp;&nbsp;204274 | &nbsp;&nbsp;&nbsp;4267284 |
| SEACOR Marine Holdings, Inc. (A)(B) | &nbsp;&nbsp;129032 | &nbsp;&nbsp;&nbsp;1181933 |
| TechnipFMC PLC (A) | 1135607 | 13843049 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;219099 | &nbsp;&nbsp;&nbsp;8073798 |
|  |  | 32826802 |
| **Oil, gas and consumable fuels – 3.0%** | **Oil, gas and consumable fuels – 3.0%** |  |
| Cameco Corp. | &nbsp;&nbsp;258538 | &nbsp;&nbsp;&nbsp;5861056 |
| Canadian Natural Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;49626 | &nbsp;&nbsp;&nbsp;2755732 |
| Equitrans Midstream Corp. | &nbsp;&nbsp;842535 | &nbsp;&nbsp;&nbsp;5644985 |
| Imperial Oil, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;64389 | &nbsp;&nbsp;&nbsp;3138320 |
|  |  | 17400093 |
|  |  | 50226895 |
| **Financials – 15.6%** |  |  |
| **Banks – 5.3%** | **Banks – 5.3%** |  |
| Fifth Third Bancorp | &nbsp;&nbsp;336942 | 11055067 |
| Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88960 | &nbsp;&nbsp;&nbsp;5899827 |
| Signature Bank | &nbsp;&nbsp;&nbsp;&nbsp;44957 | &nbsp;&nbsp;&nbsp;5179946 |
| Webster Financial Corp. | &nbsp;&nbsp;148499 | &nbsp;&nbsp;&nbsp;7029943 |
| Westamerica BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;19524 | &nbsp;&nbsp;&nbsp;1152111 |
|  |  | 30316894 |
| **Capital markets – 2.5%** | **Capital markets – 2.5%** |  |
| Main Street Capital Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;89957 | &nbsp;&nbsp;&nbsp;3323911 |
| Open Lending Corp., Class A (A) | &nbsp;&nbsp;298813 | &nbsp;&nbsp;&nbsp;2016988 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| State Street Corp. | &nbsp;&nbsp;113975 | $&nbsp;&nbsp;&nbsp;8841041 |
|  |  | 14181940 |
| **Consumer finance – 0.6%** | **Consumer finance – 0.6%** |  |
| OneMain Holdings, Inc. | &nbsp;&nbsp;104705 | &nbsp;&nbsp;&nbsp;3487724 |
| **Diversified financial services – 1.5%** | **Diversified financial services – 1.5%** |  |
| Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72056 | &nbsp;&nbsp;&nbsp;4596452 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;109062 | &nbsp;&nbsp;&nbsp;3794267 |
|  |  | &nbsp;&nbsp;&nbsp;8390719 |
| **Insurance – 5.7%** | **Insurance – 5.7%** |  |
| Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92643 | &nbsp;&nbsp;&nbsp;5277872 |
| CNA Financial Corp. | &nbsp;&nbsp;128722 | &nbsp;&nbsp;&nbsp;5442366 |
| Kemper Corp. | &nbsp;&nbsp;120362 | &nbsp;&nbsp;&nbsp;5921810 |
| Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;97240 | &nbsp;&nbsp;&nbsp;5672009 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;53200 | &nbsp;&nbsp;&nbsp;9801036 |
|  |  | 32115093 |
|  |  | 88492370 |
| **Health care – 10.8%** |  |  |
| **Health care equipment and supplies – 3.5%** | **Health care equipment and supplies – 3.5%** |  |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;174201 | &nbsp;&nbsp;&nbsp;5546560 |
| Koninklijke Philips NV, NYRS | &nbsp;&nbsp;330617 | &nbsp;&nbsp;&nbsp;4955949 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74793 | &nbsp;&nbsp;&nbsp;9536108 |
|  |  | 20038617 |
| **Health care providers and services – 5.4%** | **Health care providers and services – 5.4%** |  |
| Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62499 | &nbsp;&nbsp;&nbsp;4804298 |
| Centene Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;66904 | &nbsp;&nbsp;&nbsp;5486797 |
| Fresenius SE & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;73574 | &nbsp;&nbsp;&nbsp;2055060 |
| Fresenius SE & Company KGaA, ADR (B) | &nbsp;&nbsp;135772 | &nbsp;&nbsp;&nbsp;&nbsp;949046 |
| Patterson Companies, Inc. | &nbsp;&nbsp;116776 | &nbsp;&nbsp;&nbsp;3273231 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;554205 | 13760910 |
|  |  | 30329342 |
| **Life sciences tools and services – 1.0%** | **Life sciences tools and services – 1.0%** |  |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;26618 | &nbsp;&nbsp;&nbsp;5800062 |
| **Pharmaceuticals – 0.9%** | **Pharmaceuticals – 0.9%** |  |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;189240 | &nbsp;&nbsp;&nbsp;2312513 |
| Viatris, Inc. | &nbsp;&nbsp;258051 | &nbsp;&nbsp;&nbsp;2872108 |
|  |  | &nbsp;&nbsp;&nbsp;5184621 |
|  |  | 61352642 |
| **Industrials – 13.7%** |  |  |
| **Aerospace and defense – 3.9%** | **Aerospace and defense – 3.9%** |  |
| Rolls-Royce Holdings PLC (A) | 4963980 | &nbsp;&nbsp;&nbsp;5544639 |
| Spirit AeroSystems Holdings, Inc., Class A | &nbsp;&nbsp;178057 | &nbsp;&nbsp;&nbsp;5270487 |
| Textron, Inc. | &nbsp;&nbsp;156926 | 11110361 |
|  |  | 21925487 |
| **Air freight and logistics – 0.7%** | **Air freight and logistics – 0.7%** |  |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43190 | &nbsp;&nbsp;&nbsp;3954476 |
| **Airlines – 0.7%** | **Airlines – 0.7%** |  |
| Southwest Airlines Company (A) | &nbsp;&nbsp;122649 | &nbsp;&nbsp;&nbsp;4129592 |
| **Building products – 1.2%** | **Building products – 1.2%** |  |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15900 | &nbsp;&nbsp;&nbsp;&nbsp;908049 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14345 |
| Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;34582 | &nbsp;&nbsp;&nbsp;5812888 |
|  |  | &nbsp;&nbsp;&nbsp;6735282 |
| **Electrical equipment – 0.8%** | **Electrical equipment – 0.8%** |  |
| Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16801 | &nbsp;&nbsp;&nbsp;4327434 |
| **Machinery – 4.2%** | **Machinery – 4.2%** |  |
| Alstom SA (B) | &nbsp;&nbsp;&nbsp;&nbsp;24180 | &nbsp;&nbsp;&nbsp;&nbsp;591602 |
| Alstom SA, ADR | 1240785 | &nbsp;&nbsp;&nbsp;2953068 |
| PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66591 | &nbsp;&nbsp;&nbsp;6590511 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;116604 | &nbsp;&nbsp;&nbsp;8759292 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Mid Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| The Middleby Corp. (A) | &nbsp;&nbsp;38656 | $&nbsp;&nbsp;&nbsp;5176038 |
|  |  | 24070511 |
| **Professional services – 0.4%** | **Professional services – 0.4%** |  |
| Equifax, Inc. | &nbsp;&nbsp;12726 | &nbsp;&nbsp;&nbsp;2473425 |
| **Road and rail – 1.2%** | **Road and rail – 1.2%** |  |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;39363 | &nbsp;&nbsp;&nbsp;6863333 |
| **Trading companies and distributors – 0.6%** | **Trading companies and distributors – 0.6%** |  |
| Ashtead Group PLC | &nbsp;&nbsp;63402 | &nbsp;&nbsp;&nbsp;3601535 |
|  |  | 78081075 |
| **Information technology – 6.2%** |  |  |
| **Communications equipment – 1.3%** | **Communications equipment – 1.3%** |  |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;2973075 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;16309 | &nbsp;&nbsp;&nbsp;4202992 |
|  |  | &nbsp;&nbsp;&nbsp;7176067 |
| **Electronic equipment, instruments and components – 0.9%** | **Electronic equipment, instruments and components – 0.9%** |  |
| Corning, Inc. | 107670 | &nbsp;&nbsp;&nbsp;3438980 |
| National Instruments Corp. | &nbsp;&nbsp;50353 | &nbsp;&nbsp;&nbsp;1858026 |
|  |  | &nbsp;&nbsp;&nbsp;5297006 |
| **IT services – 0.8%** | **IT services – 0.8%** |  |
| Global Payments, Inc. | &nbsp;&nbsp;46666 | &nbsp;&nbsp;&nbsp;4634867 |
| **Semiconductors and semiconductor equipment – 1.4%** | **Semiconductors and semiconductor equipment – 1.4%** |  |
| Marvell Technology, Inc. | 143939 | &nbsp;&nbsp;&nbsp;5331501 |
| MKS Instruments, Inc. | &nbsp;&nbsp;33700 | &nbsp;&nbsp;&nbsp;2855401 |
|  |  | &nbsp;&nbsp;&nbsp;8186902 |
| **Technology hardware, storage and peripherals – 1.8%** | **Technology hardware, storage and peripherals – 1.8%** |  |
| Western Digital Corp. (A) | 322786 | 10183899 |
|  |  | 35478741 |
| **Materials – 7.6%** |  |  |
| **Chemicals – 1.7%** | **Chemicals – 1.7%** |  |
| Corteva, Inc. | &nbsp;&nbsp;57030 | &nbsp;&nbsp;&nbsp;3352223 |
| PPG Industries, Inc. | &nbsp;&nbsp;15761 | &nbsp;&nbsp;&nbsp;1981788 |
| The Scotts Miracle-Gro Company (B) | &nbsp;&nbsp;84347 | &nbsp;&nbsp;&nbsp;4098421 |
|  |  | &nbsp;&nbsp;&nbsp;9432432 |
| **Construction materials – 1.9%** | **Construction materials – 1.9%** |  |
| Summit Materials, Inc., Class A (A) | 241103 | &nbsp;&nbsp;&nbsp;6844927 |
| Vulcan Materials Company | &nbsp;&nbsp;22158 | &nbsp;&nbsp;&nbsp;3880087 |
|  |  | 10725014 |
| **Containers and packaging – 1.3%** | **Containers and packaging – 1.3%** |  |
| Ball Corp. | &nbsp;&nbsp;70437 | &nbsp;&nbsp;&nbsp;3602148 |
| Westrock Company | 105089 | &nbsp;&nbsp;&nbsp;3694929 |
|  |  | &nbsp;&nbsp;&nbsp;7297077 |
| **Metals and mining – 2.7%** | **Metals and mining – 2.7%** |  |
| AngloGold Ashanti, Ltd., ADR | 137681 | &nbsp;&nbsp;&nbsp;2673765 |
| Franco-Nevada Corp. | &nbsp;&nbsp;38238 | &nbsp;&nbsp;&nbsp;5212399 |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;64300 | &nbsp;&nbsp;&nbsp;2443400 |
| Fresnillo PLC | 485115 | &nbsp;&nbsp;&nbsp;5300457 |
|  |  | 15630021 |
|  |  | 43084544 |
| **Real estate – 6.2%** |  |  |
| **Equity real estate investment trusts – 6.2%** | **Equity real estate investment trusts – 6.2%** |  |
| Apartment Investment and Management Company, Class A | 427276 | &nbsp;&nbsp;&nbsp;3042205 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;1854995 |
| Equity Commonwealth | &nbsp;&nbsp;56926 | &nbsp;&nbsp;&nbsp;1421442 |
| Equity Residential | &nbsp;&nbsp;50066 | &nbsp;&nbsp;&nbsp;2953894 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;30067 | &nbsp;&nbsp;&nbsp;&nbsp;840373 |
| Rayonier, Inc. | 159827 | &nbsp;&nbsp;&nbsp;5267898 |
| Regency Centers Corp. | &nbsp;&nbsp;81171 | &nbsp;&nbsp;&nbsp;5073188 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;81280 | &nbsp;&nbsp;&nbsp;4441139 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | $&nbsp;&nbsp;&nbsp;&nbsp;1709891 |
| Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12668 | &nbsp;&nbsp;&nbsp;&nbsp;1488237 |
| Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;97300 | &nbsp;&nbsp;&nbsp;&nbsp;2024813 |
| Weyerhaeuser Company | &nbsp;&nbsp;&nbsp;&nbsp;170984 | &nbsp;&nbsp;&nbsp;&nbsp;5300504 |
|  |  | &nbsp;&nbsp;&nbsp;35418579 |
| **Utilities – 4.9%** |  |  |
| **Electric utilities – 4.4%** | **Electric utilities – 4.4%** |  |
| FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;290461 | &nbsp;&nbsp;&nbsp;12181934 |
| PG&E Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;779952 | &nbsp;&nbsp;&nbsp;12682020 |
|  |  | &nbsp;&nbsp;&nbsp;24863954 |
| **Multi-utilities – 0.5%** | **Multi-utilities – 0.5%** |  |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102950 | &nbsp;&nbsp;&nbsp;&nbsp;3087471 |
|  |  | &nbsp;&nbsp;&nbsp;27951425 |
| TOTAL COMMON STOCKS (Cost $504,227,997) | TOTAL COMMON STOCKS (Cost $504,227,997) | $543006963 |
| **SHORT-TERM INVESTMENTS – 6.4%** | **SHORT-TERM INVESTMENTS – 6.4%** |  |
| **Short-term funds – 6.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;1304933 | &nbsp;&nbsp;&nbsp;13043847 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (C) | &nbsp;&nbsp;9739850 | &nbsp;&nbsp;&nbsp;&nbsp;9739850 |
| T. Rowe Price Government Reserve Fund, 4.2602% (C) | 13825689 | &nbsp;&nbsp;&nbsp;13825689 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $36,608,582) | TOTAL SHORT-TERM INVESTMENTS (Cost $36,608,582) | $&nbsp;&nbsp;&nbsp;36609386 |
| **Total Investments (Mid Value Trust)<br> (Cost $540,836,579) – 101.9%** | **Total Investments (Mid Value Trust)<br> (Cost $540,836,579) – 101.9%** | $**579616349** |
| **Other assets and liabilities, net – (1.9%)** | **Other assets and liabilities, net – (1.9%)** | &nbsp;&nbsp;**(10646325)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**568970024** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Real Estate Securities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.4%** |  |  |
| **Consumer discretionary – 1.1%** |  |  |
| **Hotels, restaurants and leisure – 1.1%** |  |  |
| **Hotels, resorts and cruise lines – 1.1%** |  |  |
| Hyatt Hotels Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33801 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057300 |
| **Industrials – 1.2%** |  |  |
| **Construction and engineering – 1.2%** |  |  |
| **Construction and engineering – 1.2%** |  |  |
| WillScot Mobile Mini Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551717 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551717 |
| **Real estate – 95.1%** |  |  |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Real Estate Securities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Equity real estate investment trusts –<br> 94.8%** |  |  |
| **Diversified REITs – 5.0%** |  |  |
| Empire State Realty Trust, Inc., Class A | 732664 | $&nbsp;&nbsp;&nbsp;&nbsp;4938155 |
| WP Carey, Inc. | 120187 | &nbsp;&nbsp;&nbsp;&nbsp;9392614 |
|  |  | &nbsp;&nbsp;&nbsp;14330769 |
| **Health care REITs – 10.3%** |  |  |
| CareTrust REIT, Inc. | 244421 | &nbsp;&nbsp;&nbsp;&nbsp;4541342 |
| Healthpeak Properties, Inc. | 229834 | &nbsp;&nbsp;&nbsp;&nbsp;5761938 |
| LTC Properties, Inc. | 141114 | &nbsp;&nbsp;&nbsp;&nbsp;5013780 |
| Welltower, Inc. | 217900 | &nbsp;&nbsp;&nbsp;14283345 |
|  |  | &nbsp;&nbsp;&nbsp;29600405 |
| **Hotel and resort REITs – 3.7%** |  |  |
| Host Hotels & Resorts, Inc. | 365328 | &nbsp;&nbsp;&nbsp;&nbsp;5863514 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;57961 | &nbsp;&nbsp;&nbsp;&nbsp;4740051 |
|  |  | &nbsp;&nbsp;&nbsp;10603565 |
| **Industrial REITs – 15.1%** |  |  |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;70296 | &nbsp;&nbsp;&nbsp;&nbsp;3392485 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;30373 | &nbsp;&nbsp;&nbsp;&nbsp;3078304 |
| Plymouth Industrial REIT, Inc. | 249534 | &nbsp;&nbsp;&nbsp;&nbsp;4786062 |
| Prologis, Inc. | 284349 | &nbsp;&nbsp;&nbsp;32054662 |
|  |  | &nbsp;&nbsp;&nbsp;43311513 |
| **Office REITs – 4.9%** |  |  |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;33762 | &nbsp;&nbsp;&nbsp;&nbsp;4918111 |
| Corporate Office Properties Trust | 196515 | &nbsp;&nbsp;&nbsp;&nbsp;5097599 |
| Veris Residential, Inc. (A) | 254131 | &nbsp;&nbsp;&nbsp;&nbsp;4048307 |
|  |  | &nbsp;&nbsp;&nbsp;14064017 |
| **Residential REITs – 15.7%** |  |  |
| American Homes 4 Rent, Class A | 211408 | &nbsp;&nbsp;&nbsp;&nbsp;6371837 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;75091 | &nbsp;&nbsp;&nbsp;12128698 |
| Equity Residential | 176397 | &nbsp;&nbsp;&nbsp;10407423 |
| Independence Realty Trust, Inc. | 164911 | &nbsp;&nbsp;&nbsp;&nbsp;2780399 |
| Sun Communities, Inc. | &nbsp;&nbsp;93136 | &nbsp;&nbsp;&nbsp;13318448 |
|  |  | &nbsp;&nbsp;&nbsp;45006805 |
| **Retail REITs – 17.3%** |  |  |
| Agree Realty Corp. | 125630 | &nbsp;&nbsp;&nbsp;&nbsp;8910936 |
| Brixmor Property Group, Inc. | 359580 | &nbsp;&nbsp;&nbsp;&nbsp;8151679 |
| Getty Realty Corp. | 111787 | &nbsp;&nbsp;&nbsp;&nbsp;3783990 |
| Kimco Realty Corp. | 426249 | &nbsp;&nbsp;&nbsp;&nbsp;9027954 |
| Phillips Edison & Company, Inc. | 201698 | &nbsp;&nbsp;&nbsp;&nbsp;6422064 |
| Simon Property Group, Inc. | &nbsp;&nbsp;50380 | &nbsp;&nbsp;&nbsp;&nbsp;5918642 |
| Spirit Realty Capital, Inc. | &nbsp;&nbsp;63305 | &nbsp;&nbsp;&nbsp;&nbsp;2527769 |
| Tanger Factory Outlet Centers, Inc. | 258120 | &nbsp;&nbsp;&nbsp;&nbsp;4630673 |
|  |  | &nbsp;&nbsp;&nbsp;49373707 |
| **Specialized REITs – 22.8%** |  |  |
| American Tower Corp. | &nbsp;&nbsp;41225 | &nbsp;&nbsp;&nbsp;&nbsp;8733929 |
| CubeSmart | 140611 | &nbsp;&nbsp;&nbsp;&nbsp;5659593 |
| Equinix, Inc. | &nbsp;&nbsp;24484 | &nbsp;&nbsp;&nbsp;16037755 |
| Iron Mountain, Inc. | 100755 | &nbsp;&nbsp;&nbsp;&nbsp;5022637 |
| Life Storage, Inc. | &nbsp;&nbsp;55680 | &nbsp;&nbsp;&nbsp;&nbsp;5484480 |
| Public Storage | &nbsp;&nbsp;46210 | &nbsp;&nbsp;&nbsp;12947580 |
| VICI Properties, Inc. | 352378 | &nbsp;&nbsp;&nbsp;11417047 |
|  |  | &nbsp;&nbsp;&nbsp;65303021 |
|  |  | 271593802 |
| **Real estate management and<br> development – 0.3%** |  |  |
| **Real estate services – 0.3%** |  |  |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;13162 | &nbsp;&nbsp;&nbsp;&nbsp;1012948 |
|  |  | 272606750 |
| TOTAL COMMON STOCKS (Cost $293,402,315) | TOTAL COMMON STOCKS (Cost $293,402,315) | $279215767 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.1%** | **SHORT-TERM INVESTMENTS – 2.1%** |  |
| **Short-term funds – 2.1%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (B) | 5967655 | $&nbsp;&nbsp;&nbsp;&nbsp;5967655 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,967,655) |  | $&nbsp;&nbsp;&nbsp;5967655 |
| **Total Investments (Real Estate Securities Trust)<br> (Cost $299,369,970) – 99.5%** |  | $**285183422** |
| **Other assets and liabilities, net – 0.5%** |  | &nbsp;&nbsp;&nbsp;**1344977** |
| **TOTAL NET ASSETS – 100.0%** |  | $**286528399** |

---

<u>Security Abbreviations and Legend</u> <br> (A) Non-income producing security. <br> (B) The rate shown is the annualized seven-day yield as of 12-31-22.

#### Science & Technology Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 95.4%** | **COMMON STOCKS – 95.4%** |  |
| **Communication services – 13.2%** |  |  |
| **Entertainment – 0.2%** | **Entertainment – 0.2%** |  |
| CTS Eventim AG & Company KGaA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23200 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472711 |
| **Interactive media and services – 13.0%** | **Interactive media and services – 13.0%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30959907 |
| Baidu, Inc., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11464422 |
| Kanzhun, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328181 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33840210 |
| Pinterest, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3858480 |
| VK Company, Ltd., GDR (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80596876 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82069587 |
| **Consumer discretionary – 27.9%** |  |  |
| **Automobiles – 0.2%** | **Automobiles – 0.2%** |  |
| Rivian Automotive, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034255 |
| **Hotels, restaurants and leisure – 3.2%** | **Hotels, restaurants and leisure – 3.2%** |  |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13859081 |
| Tongcheng Travel Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883464 |
| Trip.com Group, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20263798 |
| **Internet and direct marketing retail – 23.4%** | **Internet and direct marketing retail – 23.4%** |  |
| Alibaba Group Holding, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20396975 |
| Amazon.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35069829 |
| Boohoo Group PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346556 |
| Coupang, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7479976 |
| Deliveroo PLC (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435840 |
| Delivery Hero SE (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21587547 |
| D-Market Elektronik Hizmetler ve Ticaret AS, ADR (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115231 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319662 |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8602001 |
| MercadoLibre, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285694 |
| Naspers, Ltd., N Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5825137 |
| Wayfair, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269225 |
| Zalando SE (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35421273 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145154946 |
| **Specialty retail – 1.1%** | **Specialty retail – 1.1%** |  |
| Auto1 Group SE (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4274807 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Science & Technology Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Warby Parker, Inc., Class A (A)(D) | 196663 | $&nbsp;&nbsp;&nbsp;&nbsp;2652984 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6927791 |
|  |  | 173380790 |
| **Health care – 0.4%** |  |  |
| **Health care technology – 0.4%** | **Health care technology – 0.4%** |  |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;13095 | &nbsp;&nbsp;&nbsp;&nbsp;2113271 |
| **Information technology – 53.6%** |  |  |
| **Communications equipment – 1.4%** | **Communications equipment – 1.4%** |  |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;70579 | &nbsp;&nbsp;&nbsp;&nbsp;8564762 |
| **IT services – 5.2%** | **IT services – 5.2%** |  |
| Accenture PLC, Class A | &nbsp;&nbsp;97759 | &nbsp;&nbsp;&nbsp;26086012 |
| Adyen NV (A)(C) | &nbsp;&nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp;1706158 |
| MongoDB, Inc. (A) | &nbsp;&nbsp;23732 | &nbsp;&nbsp;&nbsp;&nbsp;4671407 |
|  |  | &nbsp;&nbsp;&nbsp;32463577 |
| **Semiconductors and semiconductor equipment – 15.7%** | **Semiconductors and semiconductor equipment – 15.7%** |  |
| Advanced Micro Devices, Inc. (A) | 374935 | &nbsp;&nbsp;&nbsp;24284540 |
| ASML Holding NV, NYRS | &nbsp;&nbsp;&nbsp;9325 | &nbsp;&nbsp;&nbsp;&nbsp;5095180 |
| Lam Research Corp. | &nbsp;&nbsp;16767 | &nbsp;&nbsp;&nbsp;&nbsp;7047170 |
| Marvell Technology, Inc. | 149015 | &nbsp;&nbsp;&nbsp;&nbsp;5519516 |
| Micron Technology, Inc. | 132678 | &nbsp;&nbsp;&nbsp;&nbsp;6631246 |
| NVIDIA Corp. | 201014 | &nbsp;&nbsp;&nbsp;29376186 |
| Qualcomm, Inc. | 169390 | &nbsp;&nbsp;&nbsp;18622737 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;1045689 |
|  |  | &nbsp;&nbsp;&nbsp;97622264 |
| **Software – 27.2%** | **Software – 27.2%** |  |
| Fortinet, Inc. (A) | 268724 | &nbsp;&nbsp;&nbsp;13137916 |
| Gen Digital, Inc. | 125018 | &nbsp;&nbsp;&nbsp;&nbsp;2679136 |
| HubSpot, Inc. (A) | &nbsp;&nbsp;11346 | &nbsp;&nbsp;&nbsp;&nbsp;3280469 |
| Intuit, Inc. | &nbsp;&nbsp;24466 | &nbsp;&nbsp;&nbsp;&nbsp;9522657 |
| Microsoft Corp. | 229872 | &nbsp;&nbsp;&nbsp;55127903 |
| Qualtrics International, Inc., Class A (A) | 815325 | &nbsp;&nbsp;&nbsp;&nbsp;8463074 |
| salesforce.com, Inc. (A) | 341302 | &nbsp;&nbsp;&nbsp;45253232 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;15721 | &nbsp;&nbsp;&nbsp;&nbsp;6103993 |
| TeamViewer AG (A)(C) | 341979 | &nbsp;&nbsp;&nbsp;&nbsp;4386739 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;68113 | &nbsp;&nbsp;&nbsp;11397348 |
| Zoom Video Communications, Inc., Class A (A) | 142614 | &nbsp;&nbsp;&nbsp;&nbsp;9660672 |
|  |  | 169013139 |
| **Technology hardware, storage and peripherals – 4.1%** | **Technology hardware, storage and peripherals – 4.1%** |  |
| Pure Storage, Inc., Class A (A) | 684125 | &nbsp;&nbsp;&nbsp;18307185 |
| Samsung Electronics Company, Ltd. | 120875 | &nbsp;&nbsp;&nbsp;&nbsp;5305596 |
| Western Digital Corp. (A) | &nbsp;&nbsp;62381 | &nbsp;&nbsp;&nbsp;&nbsp;1968121 |
|  |  | &nbsp;&nbsp;&nbsp;25580902 |
|  |  | 333244644 |
| **Real estate – 0.3%** |  |  |
| **Real estate management and development – 0.3%** | **Real estate management and development – 0.3%** |  |
| KE Holdings, Inc., ADR (A) | 127121 | &nbsp;&nbsp;&nbsp;&nbsp;1774609 |
| Opendoor Technologies, Inc. (A) | 209793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243360 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2017969 |
| TOTAL COMMON STOCKS (Cost $679,783,270) | TOTAL COMMON STOCKS (Cost $679,783,270) | $592826261 |
| **SHORT-TERM INVESTMENTS – 5.1%** | **SHORT-TERM INVESTMENTS – 5.1%** |  |
| **Short-term funds – 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 294735 | &nbsp;&nbsp;&nbsp;&nbsp;2946108 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |  |
| **Short-term funds (continued)** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (E) | &nbsp;&nbsp;&nbsp;&nbsp;12351 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12351 |
| T. Rowe Price Government Reserve Fund, 4.2602% (E) | 28393649 | &nbsp;&nbsp;&nbsp;28393649 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $31,351,916) | TOTAL SHORT-TERM INVESTMENTS (Cost $31,351,916) | $&nbsp;&nbsp;&nbsp;31352108 |
| **Total Investments (Science & Technology Trust)<br> (Cost $711,135,186) – 100.5%** | **Total Investments (Science & Technology Trust)<br> (Cost $711,135,186) – 100.5%** | $**624178369** |
| **Other assets and liabilities, net – (0.5%)** | **Other assets and liabilities, net – (0.5%)** | &nbsp;&nbsp;&nbsp;**(2874857)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**621303512** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $70,812,364 or 11.4% of the fund's net assets as of 12-31-22. |
| (D) | All or a portion of this security is on loan as of 12-31-22. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.0%** | **COMMON STOCKS – 96.0%** |  |
| **Communication services – 2.5%** |  |  |
| **Diversified telecommunication services – 0.7%** | **Diversified telecommunication services – 0.7%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122085 |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103397 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113993 |
| Charge Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33429 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503788 |
| Consolidated Communications Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56736 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122331 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190807 |
| IDT Corp., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88848 |
| Iridium Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335269 |
| Liberty Latin America, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99419 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200070 |
| Ooma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68740 |
| Radius Global Infrastructure, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188257 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227169 |
| **Entertainment – 0.3%** | **Entertainment – 0.3%** |  |
| Cinemark Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196296 |
| IMAX Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145295 |
| Liberty Media Corp.-Liberty Braves, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106504 |
| Liberty Media Corp.-Liberty Braves, Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213427 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| Lions Gate Entertainment Corp., Class A (A) | 12528 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71535 |
| Lions Gate Entertainment Corp., Class B (A) | 24200 | &nbsp;&nbsp;&nbsp;&nbsp;131406 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;5366 | &nbsp;&nbsp;&nbsp;&nbsp;241309 |
| Playstudios, Inc. (A) | 17049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66150 |
| Reservoir Media, Inc. (A) | &nbsp;&nbsp;4009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23934 |
| Skillz, Inc. (A) | 65294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33071 |
| The Marcus Corp. | &nbsp;&nbsp;5056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72756 |
|  |  | &nbsp;&nbsp;&nbsp;1301683 |
| **Interactive media and services – 0.6%** | **Interactive media and services – 0.6%** |  |
| Bumble, Inc., Class A (A) | 17865 | &nbsp;&nbsp;&nbsp;&nbsp;376058 |
| CarGurus, Inc. (A) | 21126 | &nbsp;&nbsp;&nbsp;&nbsp;295975 |
| Cars.com, Inc. (A) | 13945 | &nbsp;&nbsp;&nbsp;&nbsp;192023 |
| DHI Group, Inc. (A) | &nbsp;&nbsp;8822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46668 |
| Eventbrite, Inc., Class A (A) | 16115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94434 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;4246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62586 |
| FuboTV, Inc. (A)(B) | 40211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69967 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;5247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52208 |
| Outbrain, Inc. (A) | &nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33666 |
| QuinStreet, Inc. (A) | 10529 | &nbsp;&nbsp;&nbsp;&nbsp;151091 |
| Shutterstock, Inc. | &nbsp;&nbsp;5027 | &nbsp;&nbsp;&nbsp;&nbsp;265023 |
| TrueCar, Inc. (A) | 19316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48483 |
| Vimeo, Inc. (A) | 30430 | &nbsp;&nbsp;&nbsp;&nbsp;104375 |
| Vinco Ventures, Inc. (A)(B) | 38997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18095 |
| Yelp, Inc. (A) | 14110 | &nbsp;&nbsp;&nbsp;&nbsp;385767 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;9403 | &nbsp;&nbsp;&nbsp;&nbsp;743777 |
| ZipRecruiter, Inc., Class A (A) | 15386 | &nbsp;&nbsp;&nbsp;&nbsp;252638 |
|  |  | &nbsp;&nbsp;&nbsp;3192834 |
| **Media – 0.8%** | **Media – 0.8%** |  |
| Advantage Solutions, Inc. (A) | 18231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37920 |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;6381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99990 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;4433 | &nbsp;&nbsp;&nbsp;&nbsp;117475 |
| Cardlytics, Inc. (A) | &nbsp;&nbsp;7115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41125 |
| Clear Channel Outdoor Holdings, Inc. (A) | 79505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83480 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68640 |
| Entravision Communications Corp., Class A | 12960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62208 |
| Gannett Company, Inc. (A) | 31601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64150 |
| Gray Television, Inc. | 17326 | &nbsp;&nbsp;&nbsp;&nbsp;193878 |
| iHeartMedia, Inc., Class A (A) | 25585 | &nbsp;&nbsp;&nbsp;&nbsp;156836 |
| Innovid Corp. (A) | 15846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27097 |
| Integral Ad Science Holding Corp. (A) | &nbsp;&nbsp;8302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72975 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;8851 | &nbsp;&nbsp;&nbsp;&nbsp;354571 |
| Magnite, Inc. (A) | 27566 | &nbsp;&nbsp;&nbsp;&nbsp;291924 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;9015 | &nbsp;&nbsp;&nbsp;&nbsp;115482 |
| Scholastic Corp. | &nbsp;&nbsp;6141 | &nbsp;&nbsp;&nbsp;&nbsp;242324 |
| Sinclair Broadcast Group, Inc., Class A | &nbsp;&nbsp;8559 | &nbsp;&nbsp;&nbsp;&nbsp;132750 |
| Stagwell, Inc. (A) | 16405 | &nbsp;&nbsp;&nbsp;&nbsp;101875 |
| TechTarget, Inc. (A) | &nbsp;&nbsp;5633 | &nbsp;&nbsp;&nbsp;&nbsp;248190 |
| TEGNA, Inc. | 45713 | &nbsp;&nbsp;&nbsp;&nbsp;968658 |
| The EW Scripps Company (A) | 12631 | &nbsp;&nbsp;&nbsp;&nbsp;166603 |
| Thryv Holdings, Inc. (A) | &nbsp;&nbsp;5315 | &nbsp;&nbsp;&nbsp;&nbsp;100985 |
| WideOpenWest, Inc. (A) | 11136 | &nbsp;&nbsp;&nbsp;&nbsp;101449 |
|  |  | &nbsp;&nbsp;&nbsp;3850585 |
| **Wireless telecommunication services – 0.1%** | **Wireless telecommunication services – 0.1%** |  |
| Gogo, Inc. (A) | 10402 | &nbsp;&nbsp;&nbsp;&nbsp;153534 |
| Shenandoah Telecommunications Company | 10037 | &nbsp;&nbsp;&nbsp;&nbsp;159388 |
| Telephone & Data Systems, Inc. | 21050 | &nbsp;&nbsp;&nbsp;&nbsp;220815 |
| United States Cellular Corp. (A) | &nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;597142 |
|  |  | 12169413 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer discretionary – 10.0%** |  |  |
| **Auto components – 1.3%** | **Auto components – 1.3%** |  |
| Adient PLC (A) | 19696 | $&nbsp;&nbsp;&nbsp;&nbsp;683254 |
| American Axle & Manufacturing Holdings, Inc. (A) | 23593 | &nbsp;&nbsp;&nbsp;&nbsp;184497 |
| Dana, Inc. | 26748 | &nbsp;&nbsp;&nbsp;&nbsp;404697 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp;439933 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;8795 | &nbsp;&nbsp;&nbsp;&nbsp;802368 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;6842 | &nbsp;&nbsp;&nbsp;&nbsp;446714 |
| Holley, Inc. (A)(B) | 11568 | &nbsp;&nbsp;&nbsp;&nbsp;24524 |
| LCI Industries | &nbsp;&nbsp;5132 | &nbsp;&nbsp;&nbsp;&nbsp;474453 |
| Luminar Technologies, Inc. (A) | 52422 | &nbsp;&nbsp;&nbsp;&nbsp;259489 |
| Modine Manufacturing Company (A) | 10423 | &nbsp;&nbsp;&nbsp;&nbsp;207001 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;51378 |
| Patrick Industries, Inc. | &nbsp;&nbsp;4518 | &nbsp;&nbsp;&nbsp;&nbsp;273791 |
| Solid Power, Inc. (A) | 27745 | &nbsp;&nbsp;&nbsp;&nbsp;70472 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;4057 | &nbsp;&nbsp;&nbsp;&nbsp;141184 |
| Stoneridge, Inc. (A) | &nbsp;&nbsp;5649 | &nbsp;&nbsp;&nbsp;&nbsp;121792 |
| The Goodyear Tire & Rubber Company (A) | 58163 | &nbsp;&nbsp;&nbsp;&nbsp;590354 |
| Visteon Corp. (A) | &nbsp;&nbsp;5730 | &nbsp;&nbsp;&nbsp;&nbsp;749656 |
| XPEL, Inc. (A) | &nbsp;&nbsp;4450 | &nbsp;&nbsp;&nbsp;&nbsp;267267 |
|  |  | 6192824 |
| **Automobiles – 0.2%** | **Automobiles – 0.2%** |  |
| Canoo, Inc. (A)(B) | 36865 | &nbsp;&nbsp;&nbsp;&nbsp;45344 |
| Fisker, Inc. (A)(B) | 36907 | &nbsp;&nbsp;&nbsp;&nbsp;268314 |
| Lordstown Motors Corp., Class A (A)(B) | 39686 | &nbsp;&nbsp;&nbsp;&nbsp;45242 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;6250 | &nbsp;&nbsp;&nbsp;&nbsp;329375 |
| Workhorse Group, Inc. (A)(B) | 32125 | &nbsp;&nbsp;&nbsp;&nbsp;48830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;737105 |
| **Distributors – 0.0%** | **Distributors – 0.0%** |  |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;6683 | &nbsp;&nbsp;&nbsp;&nbsp;72912 |
| Weyco Group, Inc. | &nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp;30576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;103488 |
| **Diversified consumer services – 0.9%** | **Diversified consumer services – 0.9%** |  |
| 2U, Inc. (A) | 15942 | &nbsp;&nbsp;&nbsp;&nbsp;99956 |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;9203 | &nbsp;&nbsp;&nbsp;&nbsp;326707 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;4191 | &nbsp;&nbsp;&nbsp;&nbsp;51507 |
| Carriage Services, Inc. | &nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp;77938 |
| Chegg, Inc. (A) | 25643 | &nbsp;&nbsp;&nbsp;&nbsp;647999 |
| Coursera, Inc. (A) | 23817 | &nbsp;&nbsp;&nbsp;&nbsp;281755 |
| Duolingo, Inc. (A) | &nbsp;&nbsp;4869 | &nbsp;&nbsp;&nbsp;&nbsp;346332 |
| European Wax Center, Inc., Class A | &nbsp;&nbsp;4969 | &nbsp;&nbsp;&nbsp;&nbsp;61864 |
| frontdoor, Inc. (A) | 17135 | &nbsp;&nbsp;&nbsp;&nbsp;356408 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;&nbsp;450741 |
| Laureate Education, Inc. | 27371 | &nbsp;&nbsp;&nbsp;&nbsp;263309 |
| Nerdy, Inc. (A)(B) | 12156 | &nbsp;&nbsp;&nbsp;&nbsp;27351 |
| OneSpaWorld Holdings, Ltd. (A) | 14077 | &nbsp;&nbsp;&nbsp;&nbsp;131338 |
| Perdoceo Education Corp. (A) | 13740 | &nbsp;&nbsp;&nbsp;&nbsp;190986 |
| Rover Group, Inc. (A) | 19831 | &nbsp;&nbsp;&nbsp;&nbsp;72780 |
| Strategic Education, Inc. | &nbsp;&nbsp;4686 | &nbsp;&nbsp;&nbsp;&nbsp;367008 |
| Stride, Inc. (A) | &nbsp;&nbsp;8255 | &nbsp;&nbsp;&nbsp;&nbsp;258216 |
| Udemy, Inc. (A) | 15222 | &nbsp;&nbsp;&nbsp;&nbsp;160592 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;6637 | &nbsp;&nbsp;&nbsp;&nbsp;44601 |
| Vivint Smart Home, Inc. (A) | 19854 | &nbsp;&nbsp;&nbsp;&nbsp;236263 |
| WW International, Inc. (A) | 11629 | &nbsp;&nbsp;&nbsp;&nbsp;44888 |
|  |  | 4498539 |
| **Hotels, restaurants and leisure – 2.3%** | **Hotels, restaurants and leisure – 2.3%** |  |
| Accel Entertainment, Inc. (A) | 12256 | &nbsp;&nbsp;&nbsp;&nbsp;94371 |
| Bally's Corp. (A) | &nbsp;&nbsp;7799 | &nbsp;&nbsp;&nbsp;&nbsp;151145 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;4816 | &nbsp;&nbsp;&nbsp;&nbsp;127046 |
| Bloomin' Brands, Inc. | 18281 | &nbsp;&nbsp;&nbsp;&nbsp;367814 |
| Bluegreen Vacations Holding Corp. | &nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;64621 |
| Bowlero Corp. (A) | &nbsp;&nbsp;6415 | &nbsp;&nbsp;&nbsp;&nbsp;86474 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Brinker International, Inc. (A) | &nbsp;&nbsp;9065 | $&nbsp;&nbsp;&nbsp;&nbsp;289264 |
| Century Casinos, Inc. (A) | &nbsp;&nbsp;5989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42103 |
| Chuy's Holdings, Inc. (A) | &nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;108842 |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;4639 | &nbsp;&nbsp;&nbsp;&nbsp;439499 |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;8904 | &nbsp;&nbsp;&nbsp;&nbsp;315558 |
| Denny's Corp. (A) | 12063 | &nbsp;&nbsp;&nbsp;&nbsp;111100 |
| Dine Brands Global, Inc. | &nbsp;&nbsp;3043 | &nbsp;&nbsp;&nbsp;&nbsp;196578 |
| El Pollo Loco Holdings, Inc. | &nbsp;&nbsp;4372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43545 |
| Everi Holdings, Inc. (A) | 18257 | &nbsp;&nbsp;&nbsp;&nbsp;261988 |
| F45 Training Holdings, Inc. (A) | &nbsp;&nbsp;8013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22837 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;2730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36937 |
| Full House Resorts, Inc. (A) | &nbsp;&nbsp;7201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54152 |
| Golden Entertainment, Inc. (A) | &nbsp;&nbsp;4234 | &nbsp;&nbsp;&nbsp;&nbsp;158352 |
| Hilton Grand Vacations, Inc. (A) | 17996 | &nbsp;&nbsp;&nbsp;&nbsp;693566 |
| Inspired Entertainment, Inc. (A) | &nbsp;&nbsp;4610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58409 |
| International Game Technology PLC | 20540 | &nbsp;&nbsp;&nbsp;&nbsp;465847 |
| Jack in the Box, Inc. | &nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;&nbsp;298370 |
| Krispy Kreme, Inc. (B) | 14983 | &nbsp;&nbsp;&nbsp;&nbsp;154625 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46774 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;9002 | &nbsp;&nbsp;&nbsp;&nbsp;107664 |
| Light & Wonder, Inc. (A) | 19527 | &nbsp;&nbsp;&nbsp;1144282 |
| Lindblad Expeditions Holdings, Inc. (A) | &nbsp;&nbsp;7370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56749 |
| Monarch Casino & Resort, Inc. (A) | &nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;209448 |
| NeoGames SA (A) | &nbsp;&nbsp;2999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36558 |
| Noodles & Company (A) | &nbsp;&nbsp;9190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50453 |
| ONE Group Hospitality, Inc. (A) | &nbsp;&nbsp;4341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27348 |
| Papa John's International, Inc. | &nbsp;&nbsp;6785 | &nbsp;&nbsp;&nbsp;&nbsp;558473 |
| Portillo's, Inc., Class A (A) | &nbsp;&nbsp;5785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94411 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;165692 |
| Red Rock Resorts, Inc., Class A | 10490 | &nbsp;&nbsp;&nbsp;&nbsp;419705 |
| Rush Street Interactive, Inc. (A) | 13492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48436 |
| Ruth's Hospitality Group, Inc. | &nbsp;&nbsp;6685 | &nbsp;&nbsp;&nbsp;&nbsp;103484 |
| SeaWorld Entertainment, Inc. (A) | &nbsp;&nbsp;8260 | &nbsp;&nbsp;&nbsp;&nbsp;441993 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;7779 | &nbsp;&nbsp;&nbsp;&nbsp;323062 |
| Sonder Holdings, Inc. (A) | 40283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49951 |
| Sweetgreen, Inc., Class A (A) | 18494 | &nbsp;&nbsp;&nbsp;&nbsp;158494 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;6125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92733 |
| Texas Roadhouse, Inc. | 13753 | &nbsp;&nbsp;&nbsp;1250835 |
| The Cheesecake Factory, Inc. | 10198 | &nbsp;&nbsp;&nbsp;&nbsp;323379 |
| Vacasa, Inc., Class A (A) | 24451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30808 |
| Wingstop, Inc. | &nbsp;&nbsp;6192 | &nbsp;&nbsp;&nbsp;&nbsp;852143 |
| Xponential Fitness, Inc., Class A (A) | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84841 |
|  |  | 11320759 |
| **Household durables – 1.5%** | **Household durables – 1.5%** |  |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;6353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81064 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;1844 | &nbsp;&nbsp;&nbsp;&nbsp;417205 |
| Century Communities, Inc. | &nbsp;&nbsp;5765 | &nbsp;&nbsp;&nbsp;&nbsp;288308 |
| Dream Finders Homes, Inc., Class A (A) | &nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39897 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;4747 | &nbsp;&nbsp;&nbsp;&nbsp;125416 |
| GoPro, Inc., Class A (A) | 27208 | &nbsp;&nbsp;&nbsp;&nbsp;135496 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;5395 | &nbsp;&nbsp;&nbsp;&nbsp;130721 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14831 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;4934 | &nbsp;&nbsp;&nbsp;&nbsp;547230 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47340 |
| Installed Building Products, Inc. | &nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;427486 |
| iRobot Corp. (A) | &nbsp;&nbsp;5541 | &nbsp;&nbsp;&nbsp;&nbsp;266688 |
| KB Home | 15859 | &nbsp;&nbsp;&nbsp;&nbsp;505109 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;8885 | &nbsp;&nbsp;&nbsp;&nbsp;202756 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29824 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;4256 | &nbsp;&nbsp;&nbsp;&nbsp;394106 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;5318 | &nbsp;&nbsp;&nbsp;&nbsp;245585 |
| MDC Holdings, Inc. | 11659 | &nbsp;&nbsp;&nbsp;&nbsp;368424 |
| Meritage Homes Corp. (A) | &nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;685968 |
| Purple Innovation, Inc. (A) | 11989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57427 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household durables (continued)** | **Household durables (continued)** |  |
| Skyline Champion Corp. (A) | &nbsp;&nbsp;11013 | $&nbsp;&nbsp;&nbsp;&nbsp;567280 |
| Snap One Holdings Corp. (A)(B) | &nbsp;&nbsp;&nbsp;4331 | &nbsp;&nbsp;&nbsp;&nbsp;32093 |
| Sonos, Inc. (A) | &nbsp;&nbsp;26437 | &nbsp;&nbsp;&nbsp;&nbsp;446785 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;21838 | &nbsp;&nbsp;&nbsp;&nbsp;662783 |
| The Lovesac Company (A) | &nbsp;&nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp;66338 |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;20518 | &nbsp;&nbsp;&nbsp;&nbsp;381430 |
| Tupperware Brands Corp. (A) | &nbsp;&nbsp;&nbsp;9583 | &nbsp;&nbsp;&nbsp;&nbsp;39674 |
| Universal Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;2897 | &nbsp;&nbsp;&nbsp;&nbsp;60287 |
| Vizio Holding Corp., Class A (A) | &nbsp;&nbsp;14428 | &nbsp;&nbsp;&nbsp;&nbsp;106911 |
| Vuzix Corp. (A)(B) | &nbsp;&nbsp;12567 | &nbsp;&nbsp;&nbsp;&nbsp;45744 |
| Weber, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;6386 | &nbsp;&nbsp;&nbsp;&nbsp;51407 |
|  |  | 7471613 |
| **Internet and direct marketing retail – 0.3%** | **Internet and direct marketing retail – 0.3%** |  |
| 1-800-Flowers.com, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5909 | &nbsp;&nbsp;&nbsp;&nbsp;56490 |
| 1stdibs.com, Inc. (A) | &nbsp;&nbsp;&nbsp;4988 | &nbsp;&nbsp;&nbsp;&nbsp;25339 |
| BARK, Inc. (A) | &nbsp;&nbsp;26596 | &nbsp;&nbsp;&nbsp;&nbsp;39628 |
| CarParts.com, Inc. (A) | &nbsp;&nbsp;10850 | &nbsp;&nbsp;&nbsp;&nbsp;67921 |
| ContextLogic, Inc., Class A (A) | 118196 | &nbsp;&nbsp;&nbsp;&nbsp;57644 |
| Groupon, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;4614 | &nbsp;&nbsp;&nbsp;&nbsp;39588 |
| Lands' End, Inc. (A) | &nbsp;&nbsp;&nbsp;3501 | &nbsp;&nbsp;&nbsp;&nbsp;26573 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;71003 |
| Overstock.com, Inc. (A) | &nbsp;&nbsp;&nbsp;8827 | &nbsp;&nbsp;&nbsp;&nbsp;170891 |
| PetMed Express, Inc. | &nbsp;&nbsp;&nbsp;4270 | &nbsp;&nbsp;&nbsp;&nbsp;75579 |
| Porch Group, Inc. (A) | &nbsp;&nbsp;18814 | &nbsp;&nbsp;&nbsp;&nbsp;35370 |
| Poshmark, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9689 | &nbsp;&nbsp;&nbsp;&nbsp;173239 |
| Quotient Technology, Inc. (A) | &nbsp;&nbsp;19458 | &nbsp;&nbsp;&nbsp;&nbsp;66741 |
| Qurate Retail, Inc., Series A (A) | &nbsp;&nbsp;72829 | &nbsp;&nbsp;&nbsp;&nbsp;118711 |
| Rent the Runway, Inc., Class A (A)(B) | &nbsp;&nbsp;10524 | &nbsp;&nbsp;&nbsp;&nbsp;32098 |
| Revolve Group, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;8476 | &nbsp;&nbsp;&nbsp;&nbsp;188676 |
| Stitch Fix, Inc., Class A (A) | &nbsp;&nbsp;17708 | &nbsp;&nbsp;&nbsp;&nbsp;55072 |
| The RealReal, Inc. (A) | &nbsp;&nbsp;19867 | &nbsp;&nbsp;&nbsp;&nbsp;24834 |
| ThredUp, Inc., Class A (A) | &nbsp;&nbsp;14054 | &nbsp;&nbsp;&nbsp;&nbsp;18411 |
| Vivid Seats, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;5726 | &nbsp;&nbsp;&nbsp;&nbsp;41800 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7096 | &nbsp;&nbsp;&nbsp;&nbsp;228704 |
|  |  | 1614312 |
| **Leisure products – 0.4%** | **Leisure products – 0.4%** |  |
| Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;6832 | &nbsp;&nbsp;&nbsp;&nbsp;290087 |
| AMMO, Inc. (A)(B) | &nbsp;&nbsp;18845 | &nbsp;&nbsp;&nbsp;&nbsp;32602 |
| Clarus Corp. | &nbsp;&nbsp;&nbsp;6189 | &nbsp;&nbsp;&nbsp;&nbsp;48522 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;1187 | &nbsp;&nbsp;&nbsp;&nbsp;78484 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;&nbsp;9584 | &nbsp;&nbsp;&nbsp;&nbsp;30860 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4214 | &nbsp;&nbsp;&nbsp;&nbsp;224606 |
| MasterCraft Boat Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3799 | &nbsp;&nbsp;&nbsp;&nbsp;98280 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;9520 | &nbsp;&nbsp;&nbsp;&nbsp;82634 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;&nbsp;3501 | &nbsp;&nbsp;&nbsp;&nbsp;177221 |
| Topgolf Callaway Brands Corp. (A) | &nbsp;&nbsp;29060 | &nbsp;&nbsp;&nbsp;&nbsp;573935 |
| Vista Outdoor, Inc. (A) | &nbsp;&nbsp;11440 | &nbsp;&nbsp;&nbsp;&nbsp;278793 |
|  |  | 1916024 |
| **Multiline retail – 0.1%** | **Multiline retail – 0.1%** |  |
| Big Lots, Inc. | &nbsp;&nbsp;&nbsp;5945 | &nbsp;&nbsp;&nbsp;&nbsp;87392 |
| Dillard's, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;267286 |
| Franchise Group, Inc. | &nbsp;&nbsp;&nbsp;5498 | &nbsp;&nbsp;&nbsp;&nbsp;130962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;485640 |
| **Specialty retail – 2.3%** | **Specialty retail – 2.3%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;10207 | &nbsp;&nbsp;&nbsp;&nbsp;233842 |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;16071 | &nbsp;&nbsp;&nbsp;&nbsp;844370 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp;31889 | &nbsp;&nbsp;&nbsp;&nbsp;445170 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;&nbsp;1264 | &nbsp;&nbsp;&nbsp;&nbsp;91337 |
| Arko Corp. | &nbsp;&nbsp;17830 | &nbsp;&nbsp;&nbsp;&nbsp;154408 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4552 | &nbsp;&nbsp;&nbsp;&nbsp;815946 |
| Bed Bath & Beyond, Inc. (A)(B) | &nbsp;&nbsp;16730 | &nbsp;&nbsp;&nbsp;&nbsp;41992 |
| Big 5 Sporting Goods Corp. (B) | &nbsp;&nbsp;&nbsp;4657 | &nbsp;&nbsp;&nbsp;&nbsp;41121 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6097 | &nbsp;&nbsp;&nbsp;&nbsp;381184 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Build-A-Bear Workshop, Inc. (A) | &nbsp;&nbsp;2799 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66728 |
| Caleres, Inc. | &nbsp;&nbsp;7195 | &nbsp;&nbsp;&nbsp;&nbsp;160305 |
| Camping World Holdings, Inc., Class A | &nbsp;&nbsp;7986 | &nbsp;&nbsp;&nbsp;&nbsp;178248 |
| Chico's FAS, Inc. (A) | 24954 | &nbsp;&nbsp;&nbsp;&nbsp;122774 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47902 |
| Designer Brands, Inc., Class A | 10730 | &nbsp;&nbsp;&nbsp;&nbsp;104939 |
| Destination XL Group, Inc. (A) | 12057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81385 |
| EVgo, Inc. (A)(B) | 14482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64735 |
| Foot Locker, Inc. | 16777 | &nbsp;&nbsp;&nbsp;&nbsp;634003 |
| Genesco, Inc. (A) | &nbsp;&nbsp;2659 | &nbsp;&nbsp;&nbsp;&nbsp;122367 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;2941 | &nbsp;&nbsp;&nbsp;&nbsp;530468 |
| GrowGeneration Corp. (A) | 12248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48012 |
| Guess?, Inc. | &nbsp;&nbsp;6704 | &nbsp;&nbsp;&nbsp;&nbsp;138706 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;3047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91105 |
| Hibbett, Inc. | &nbsp;&nbsp;2619 | &nbsp;&nbsp;&nbsp;&nbsp;178668 |
| LL Flooring Holdings, Inc. (A) | &nbsp;&nbsp;6433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36153 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp;135464 |
| Monro, Inc. | &nbsp;&nbsp;6630 | &nbsp;&nbsp;&nbsp;&nbsp;299676 |
| Murphy USA, Inc. | &nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;1210967 |
| National Vision Holdings, Inc. (A) | 16320 | &nbsp;&nbsp;&nbsp;&nbsp;632563 |
| OneWater Marine, Inc., Class A (A) | &nbsp;&nbsp;2297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65694 |
| Rent-A-Center, Inc. | 10506 | &nbsp;&nbsp;&nbsp;&nbsp;236910 |
| Sally Beauty Holdings, Inc. (A) | 21964 | &nbsp;&nbsp;&nbsp;&nbsp;274989 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88802 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;9441 | &nbsp;&nbsp;&nbsp;&nbsp;641988 |
| Sleep Number Corp. (A) | &nbsp;&nbsp;4547 | &nbsp;&nbsp;&nbsp;&nbsp;118131 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;3747 | &nbsp;&nbsp;&nbsp;&nbsp;184615 |
| Sportsman's Warehouse Holdings, Inc. (A) | &nbsp;&nbsp;8434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79364 |
| The Aaron's Company, Inc. | &nbsp;&nbsp;6388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76337 |
| The Buckle, Inc. | &nbsp;&nbsp;6060 | &nbsp;&nbsp;&nbsp;&nbsp;274821 |
| The Cato Corp., Class A | &nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40306 |
| The Children's Place, Inc. (A) | &nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97642 |
| The Container Store Group, Inc. (A) | &nbsp;&nbsp;7214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31092 |
| The ODP Corp. (A) | &nbsp;&nbsp;8364 | &nbsp;&nbsp;&nbsp;&nbsp;380897 |
| Tile Shop Holdings, Inc. (A) | &nbsp;&nbsp;6129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26845 |
| Tilly's, Inc., Class A (A) | &nbsp;&nbsp;5176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46843 |
| TravelCenters of America, Inc. (A) | &nbsp;&nbsp;2620 | &nbsp;&nbsp;&nbsp;&nbsp;117324 |
| Urban Outfitters, Inc. (A) | 13335 | &nbsp;&nbsp;&nbsp;&nbsp;318040 |
| Warby Parker, Inc., Class A (A) | 17611 | &nbsp;&nbsp;&nbsp;&nbsp;237572 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;586 | &nbsp;&nbsp;&nbsp;&nbsp;138196 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;3457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75155 |
|  |  | 11486101 |
| **Textiles, apparel and luxury goods – 0.7%** | **Textiles, apparel and luxury goods – 0.7%** |  |
| Allbirds, Inc., Class A (A) | 21431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51863 |
| Crocs, Inc. (A) | 12542 | &nbsp;&nbsp;&nbsp;1359929 |
| Ermenegildo Zegna NV | 12244 | &nbsp;&nbsp;&nbsp;&nbsp;128195 |
| Fossil Group, Inc. (A) | 10129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43656 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp;126009 |
| Kontoor Brands, Inc. | 11400 | &nbsp;&nbsp;&nbsp;&nbsp;455886 |
| Movado Group, Inc. | &nbsp;&nbsp;3181 | &nbsp;&nbsp;&nbsp;&nbsp;102587 |
| Oxford Industries, Inc. | &nbsp;&nbsp;3034 | &nbsp;&nbsp;&nbsp;&nbsp;282708 |
| PLBY Group, Inc. (A)(B) | &nbsp;&nbsp;9391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25825 |
| Rocky Brands, Inc. | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38312 |
| Steven Madden, Ltd. | 16159 | &nbsp;&nbsp;&nbsp;&nbsp;516442 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;3284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33037 |
| Wolverine World Wide, Inc. | 16437 | &nbsp;&nbsp;&nbsp;&nbsp;179656 |
|  |  | &nbsp;&nbsp;&nbsp;3344105 |
|  |  | 49170510 |
| **Consumer staples – 3.4%** |  |  |
| **Beverages – 0.6%** | **Beverages – 0.6%** |  |
| Celsius Holdings, Inc. (A) | 11477 | &nbsp;&nbsp;&nbsp;1194067 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;494427 |
| MGP Ingredients, Inc. | &nbsp;&nbsp;2865 | &nbsp;&nbsp;&nbsp;&nbsp;304779 |
| National Beverage Corp. (A) | &nbsp;&nbsp;4860 | &nbsp;&nbsp;&nbsp;&nbsp;226136 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| Primo Water Corp. | 32520 | $&nbsp;&nbsp;&nbsp;&nbsp;505361 |
| The Duckhorn Portfolio, Inc. (A) | &nbsp;&nbsp;8556 | &nbsp;&nbsp;&nbsp;&nbsp;141773 |
| Vintage Wine Estates, Inc. (A) | &nbsp;&nbsp;7190 | &nbsp;&nbsp;&nbsp;&nbsp;23439 |
| Vita Coco Company, Inc. (A) | &nbsp;&nbsp;5982 | &nbsp;&nbsp;&nbsp;&nbsp;82671 |
|  |  | 2972653 |
| **Food and staples retailing – 0.6%** | **Food and staples retailing – 0.6%** |  |
| HF Foods Group, Inc. (A) | &nbsp;&nbsp;8421 | &nbsp;&nbsp;&nbsp;&nbsp;34189 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;2947 | &nbsp;&nbsp;&nbsp;&nbsp;284268 |
| PriceSmart, Inc. | &nbsp;&nbsp;5019 | &nbsp;&nbsp;&nbsp;&nbsp;305055 |
| Rite Aid Corp. (A)(B) | 11735 | &nbsp;&nbsp;&nbsp;&nbsp;39195 |
| SpartanNash Company | &nbsp;&nbsp;7249 | &nbsp;&nbsp;&nbsp;&nbsp;219210 |
| Sprouts Farmers Market, Inc. (A) | 22124 | &nbsp;&nbsp;&nbsp;&nbsp;716154 |
| The Andersons, Inc. | &nbsp;&nbsp;6656 | &nbsp;&nbsp;&nbsp;&nbsp;232893 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;7142 | &nbsp;&nbsp;&nbsp;&nbsp;237686 |
| The Fresh Market, Inc. (A)(C) | 10371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| United Natural Foods, Inc. (A) | 12020 | &nbsp;&nbsp;&nbsp;&nbsp;465294 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;48653 |
| Weis Markets, Inc. | &nbsp;&nbsp;3399 | &nbsp;&nbsp;&nbsp;&nbsp;279704 |
|  |  | 2862301 |
| **Food products – 1.1%** | **Food products – 1.1%** |  |
| Alico, Inc. | &nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp;34492 |
| B&G Foods, Inc. | 14523 | &nbsp;&nbsp;&nbsp;&nbsp;161931 |
| Benson Hill, Inc. (A) | 36552 | &nbsp;&nbsp;&nbsp;&nbsp;93208 |
| Beyond Meat, Inc. (A)(B) | 13056 | &nbsp;&nbsp;&nbsp;&nbsp;160719 |
| BRC, Inc., Class A (A)(B) | &nbsp;&nbsp;5736 | &nbsp;&nbsp;&nbsp;&nbsp;35047 |
| Calavo Growers, Inc. | &nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp;108104 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;7759 | &nbsp;&nbsp;&nbsp;&nbsp;422478 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;6181 | &nbsp;&nbsp;&nbsp;&nbsp;161880 |
| Hostess Brands, Inc. (A) | 28103 | &nbsp;&nbsp;&nbsp;&nbsp;630631 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp;465898 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;1790 | &nbsp;&nbsp;&nbsp;&nbsp;145563 |
| Lancaster Colony Corp. | &nbsp;&nbsp;3995 | &nbsp;&nbsp;&nbsp;&nbsp;788214 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;5984 | &nbsp;&nbsp;&nbsp;&nbsp;38776 |
| Local Bounti Corp. (A) | 14513 | &nbsp;&nbsp;&nbsp;&nbsp;20173 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;8358 | &nbsp;&nbsp;&nbsp;&nbsp;97120 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;68081 |
| Sovos Brands, Inc. (A) | &nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;110017 |
| SunOpta, Inc. (A) | 20625 | &nbsp;&nbsp;&nbsp;&nbsp;174075 |
| The Hain Celestial Group, Inc. (A) | 18642 | &nbsp;&nbsp;&nbsp;&nbsp;301628 |
| The Simply Good Foods Company (A) | 18471 | &nbsp;&nbsp;&nbsp;&nbsp;702452 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;2955 | &nbsp;&nbsp;&nbsp;&nbsp;125794 |
| TreeHouse Foods, Inc. (A) | 10448 | &nbsp;&nbsp;&nbsp;&nbsp;515922 |
| Utz Brands, Inc. | 13630 | &nbsp;&nbsp;&nbsp;&nbsp;216172 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;6409 | &nbsp;&nbsp;&nbsp;&nbsp;95622 |
| Whole Earth Brands, Inc. (A) | &nbsp;&nbsp;9502 | &nbsp;&nbsp;&nbsp;&nbsp;38673 |
|  |  | 5712670 |
| **Household products – 0.3%** | **Household products – 0.3%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;3275 | &nbsp;&nbsp;&nbsp;&nbsp;122649 |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;7104 | &nbsp;&nbsp;&nbsp;&nbsp;254323 |
| Energizer Holdings, Inc. | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;461313 |
| WD-40 Company | &nbsp;&nbsp;2799 | &nbsp;&nbsp;&nbsp;&nbsp;451227 |
|  |  | 1289512 |
| **Personal products – 0.7%** | **Personal products – 0.7%** |  |
| BellRing Brands, Inc. (A) | 27148 | &nbsp;&nbsp;&nbsp;&nbsp;696075 |
| e.l.f. Beauty, Inc. (A) | 10126 | &nbsp;&nbsp;&nbsp;&nbsp;559968 |
| Edgewell Personal Care Company | 10685 | &nbsp;&nbsp;&nbsp;&nbsp;411800 |
| Herbalife Nutrition, Ltd. (A) | 20355 | &nbsp;&nbsp;&nbsp;&nbsp;302882 |
| Inter Parfums, Inc. | &nbsp;&nbsp;3697 | &nbsp;&nbsp;&nbsp;&nbsp;356834 |
| Medifast, Inc. | &nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp;&nbsp;264382 |
| Nu Skin Enterprises, Inc., Class A | 10211 | &nbsp;&nbsp;&nbsp;&nbsp;430496 |
| The Beauty Health Company (A) | 20141 | &nbsp;&nbsp;&nbsp;&nbsp;183283 |
| The Honest Company, Inc. (A) | 15150 | &nbsp;&nbsp;&nbsp;&nbsp;45602 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp;&nbsp;122094 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Personal products (continued)** | **Personal products (continued)** |  |
| Veru, Inc. (A) | 13454 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71037 |
|  |  | &nbsp;&nbsp;&nbsp;3444453 |
| **Tobacco – 0.1%** | **Tobacco – 0.1%** |  |
| 22nd Century Group, Inc. (A)(B) | 35441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32623 |
| Turning Point Brands, Inc. | &nbsp;&nbsp;3052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66015 |
| Universal Corp. | &nbsp;&nbsp;4924 | &nbsp;&nbsp;&nbsp;&nbsp;260036 |
| Vector Group, Ltd. | 29453 | &nbsp;&nbsp;&nbsp;&nbsp;349313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;707987 |
|  |  | 16989576 |
| **Energy – 6.5%** |  |  |
| **Energy equipment and services – 2.1%** | **Energy equipment and services – 2.1%** |  |
| Archrock, Inc. | 27640 | &nbsp;&nbsp;&nbsp;&nbsp;248207 |
| Borr Drilling, Ltd. (New York Stock Exchange) (A) | 41544 | &nbsp;&nbsp;&nbsp;&nbsp;206474 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;4864 | &nbsp;&nbsp;&nbsp;&nbsp;131960 |
| Cactus, Inc., Class A | 12121 | &nbsp;&nbsp;&nbsp;&nbsp;609201 |
| ChampionX Corp. | 41683 | &nbsp;&nbsp;&nbsp;1208390 |
| Diamond Offshore Drilling, Inc. (A) | 20891 | &nbsp;&nbsp;&nbsp;&nbsp;217266 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80151 |
| Dril-Quip, Inc. (A) | &nbsp;&nbsp;7026 | &nbsp;&nbsp;&nbsp;&nbsp;190896 |
| Expro Group Holdings NV (A) | 16173 | &nbsp;&nbsp;&nbsp;&nbsp;293216 |
| Helix Energy Solutions Group, Inc. (A) | 30157 | &nbsp;&nbsp;&nbsp;&nbsp;222559 |
| Helmerich & Payne, Inc. | 21123 | &nbsp;&nbsp;&nbsp;1047067 |
| Liberty Energy, Inc. | 29023 | &nbsp;&nbsp;&nbsp;&nbsp;464658 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;1883 | &nbsp;&nbsp;&nbsp;&nbsp;291620 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;8069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55999 |
| Newpark Resources, Inc. (A) | 18916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78501 |
| NexTier Oilfield Solutions, Inc. (A) | 36212 | &nbsp;&nbsp;&nbsp;&nbsp;334599 |
| Noble Corp. PLC (A) | 17199 | &nbsp;&nbsp;&nbsp;&nbsp;648574 |
| Oceaneering International, Inc. (A) | 20971 | &nbsp;&nbsp;&nbsp;&nbsp;366783 |
| Oil States International, Inc. (A) | 13500 | &nbsp;&nbsp;&nbsp;&nbsp;100710 |
| Patterson-UTI Energy, Inc. | 44251 | &nbsp;&nbsp;&nbsp;&nbsp;745187 |
| ProFrac Holding Corp., Class A (A)(B) | &nbsp;&nbsp;4728 | &nbsp;&nbsp;&nbsp;&nbsp;119146 |
| ProPetro Holding Corp. (A) | 18007 | &nbsp;&nbsp;&nbsp;&nbsp;186733 |
| RPC, Inc. | 15736 | &nbsp;&nbsp;&nbsp;&nbsp;139893 |
| Select Energy Services, Inc., Class A | 15451 | &nbsp;&nbsp;&nbsp;&nbsp;142767 |
| Solaris Oilfield Infrastructure, Inc., Class A | &nbsp;&nbsp;6755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67077 |
| TETRA Technologies, Inc. (A) | 26743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92531 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;9517 | &nbsp;&nbsp;&nbsp;&nbsp;350701 |
| U.S. Silica Holdings, Inc. (A) | 15477 | &nbsp;&nbsp;&nbsp;&nbsp;193463 |
| Valaris, Ltd. (A) | 12451 | &nbsp;&nbsp;&nbsp;&nbsp;841937 |
| Weatherford International PLC (A) | 14654 | &nbsp;&nbsp;&nbsp;&nbsp;746182 |
|  |  | 10422448 |
| **Oil, gas and consumable fuels – 4.4%** | **Oil, gas and consumable fuels – 4.4%** |  |
| Aemetis, Inc. (A) | &nbsp;&nbsp;6822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27015 |
| Alto Ingredients, Inc. (A) | 15709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45242 |
| Amplify Energy Corp. (A) | &nbsp;&nbsp;7353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64633 |
| Arch Resources, Inc. | &nbsp;&nbsp;3073 | &nbsp;&nbsp;&nbsp;&nbsp;438794 |
| Ardmore Shipping Corp. (A) | &nbsp;&nbsp;8028 | &nbsp;&nbsp;&nbsp;&nbsp;115683 |
| Berry Corp. | 16401 | &nbsp;&nbsp;&nbsp;&nbsp;131208 |
| California Resources Corp. | 15479 | &nbsp;&nbsp;&nbsp;&nbsp;673491 |
| Callon Petroleum Company (A) | 10193 | &nbsp;&nbsp;&nbsp;&nbsp;378058 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72950 |
| Chord Energy Corp. | &nbsp;&nbsp;8459 | &nbsp;&nbsp;&nbsp;1157276 |
| Civitas Resources, Inc. | 15202 | &nbsp;&nbsp;&nbsp;&nbsp;880652 |
| Clean Energy Fuels Corp. (A) | 35516 | &nbsp;&nbsp;&nbsp;&nbsp;184683 |
| CNX Resources Corp. (A) | 37418 | &nbsp;&nbsp;&nbsp;&nbsp;630119 |
| Comstock Resources, Inc. | 18872 | &nbsp;&nbsp;&nbsp;&nbsp;258735 |
| CONSOL Energy, Inc. | &nbsp;&nbsp;7071 | &nbsp;&nbsp;&nbsp;&nbsp;459615 |
| Crescent Energy Company, Class A (B) | &nbsp;&nbsp;8018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96136 |
| CVR Energy, Inc. | &nbsp;&nbsp;6112 | &nbsp;&nbsp;&nbsp;&nbsp;191550 |
| Delek US Holdings, Inc. | 14460 | &nbsp;&nbsp;&nbsp;&nbsp;390420 |
| Denbury, Inc. (A) | 10372 | &nbsp;&nbsp;&nbsp;&nbsp;902571 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| DHT Holdings, Inc. | &nbsp;&nbsp;27850 | $&nbsp;&nbsp;&nbsp;&nbsp;247308 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;6164 | &nbsp;&nbsp;&nbsp;&nbsp;116808 |
| Earthstone Energy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8935 | &nbsp;&nbsp;&nbsp;&nbsp;127145 |
| Empire Petroleum Corp. (A)(B) | &nbsp;&nbsp;&nbsp;1992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24502 |
| Energy Fuels, Inc. (A) | &nbsp;&nbsp;32788 | &nbsp;&nbsp;&nbsp;&nbsp;203613 |
| Equitrans Midstream Corp. | &nbsp;&nbsp;85264 | &nbsp;&nbsp;&nbsp;&nbsp;571269 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;3923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98271 |
| FLEX LNG, Ltd. | &nbsp;&nbsp;&nbsp;5904 | &nbsp;&nbsp;&nbsp;&nbsp;193002 |
| Frontline, Ltd. (B) | &nbsp;&nbsp;25266 | &nbsp;&nbsp;&nbsp;&nbsp;306729 |
| Gevo, Inc. (A)(B) | &nbsp;&nbsp;42088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79967 |
| Golar LNG, Ltd. (A) | &nbsp;&nbsp;20892 | &nbsp;&nbsp;&nbsp;&nbsp;476129 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;11118 | &nbsp;&nbsp;&nbsp;&nbsp;339099 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;2341 | &nbsp;&nbsp;&nbsp;&nbsp;172391 |
| HighPeak Energy, Inc. (B) | &nbsp;&nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30440 |
| International Seaways, Inc. | &nbsp;&nbsp;&nbsp;9942 | &nbsp;&nbsp;&nbsp;&nbsp;368053 |
| Kinetik Holdings, Inc. | &nbsp;&nbsp;&nbsp;3452 | &nbsp;&nbsp;&nbsp;&nbsp;114192 |
| Kosmos Energy, Ltd. (A) | &nbsp;&nbsp;93219 | &nbsp;&nbsp;&nbsp;&nbsp;592873 |
| Laredo Petroleum, Inc. (A) | &nbsp;&nbsp;&nbsp;3446 | &nbsp;&nbsp;&nbsp;&nbsp;177193 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;35952 | &nbsp;&nbsp;&nbsp;&nbsp;843074 |
| Matador Resources Company | &nbsp;&nbsp;23255 | &nbsp;&nbsp;&nbsp;1331116 |
| Murphy Oil Corp. | &nbsp;&nbsp;30411 | &nbsp;&nbsp;&nbsp;1307977 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26714 |
| NextDecade Corp. (A) | &nbsp;&nbsp;&nbsp;7483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36966 |
| Nordic American Tankers, Ltd. | &nbsp;&nbsp;41079 | &nbsp;&nbsp;&nbsp;&nbsp;125702 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;13541 | &nbsp;&nbsp;&nbsp;&nbsp;417334 |
| Par Pacific Holdings, Inc. (A) | &nbsp;&nbsp;10194 | &nbsp;&nbsp;&nbsp;&nbsp;237011 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;20179 | &nbsp;&nbsp;&nbsp;&nbsp;822900 |
| Peabody Energy Corp. (A) | &nbsp;&nbsp;24283 | &nbsp;&nbsp;&nbsp;&nbsp;641557 |
| Permian Resources Corp. | &nbsp;&nbsp;43013 | &nbsp;&nbsp;&nbsp;&nbsp;404322 |
| Ranger Oil Corp., Class A | &nbsp;&nbsp;&nbsp;4058 | &nbsp;&nbsp;&nbsp;&nbsp;164065 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;&nbsp;3399 | &nbsp;&nbsp;&nbsp;&nbsp;108292 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;2214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65158 |
| Ring Energy, Inc. (A) | &nbsp;&nbsp;19044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46848 |
| SandRidge Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;6759 | &nbsp;&nbsp;&nbsp;&nbsp;115106 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;&nbsp;9743 | &nbsp;&nbsp;&nbsp;&nbsp;523881 |
| SFL Corp., Ltd. | &nbsp;&nbsp;23496 | &nbsp;&nbsp;&nbsp;&nbsp;216633 |
| SilverBow Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69456 |
| Sitio Royalties Corp., Class A (B) | &nbsp;&nbsp;14598 | &nbsp;&nbsp;&nbsp;&nbsp;421159 |
| SM Energy Company | &nbsp;&nbsp;25057 | &nbsp;&nbsp;&nbsp;&nbsp;872735 |
| Talos Energy, Inc. (A) | &nbsp;&nbsp;13644 | &nbsp;&nbsp;&nbsp;&nbsp;257599 |
| Teekay Corp. (A) | &nbsp;&nbsp;15496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70352 |
| Teekay Tankers, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;4679 | &nbsp;&nbsp;&nbsp;&nbsp;144160 |
| Tellurian, Inc. (A)(B) | 105935 | &nbsp;&nbsp;&nbsp;&nbsp;177971 |
| Uranium Energy Corp. (A) | &nbsp;&nbsp;72650 | &nbsp;&nbsp;&nbsp;&nbsp;281882 |
| Ur-Energy, Inc. (A)(B) | &nbsp;&nbsp;45114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51881 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;20994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95733 |
| Vertex Energy, Inc. (A)(B) | &nbsp;&nbsp;11304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70085 |
| W&T Offshore, Inc. (A) | &nbsp;&nbsp;19739 | &nbsp;&nbsp;&nbsp;&nbsp;110144 |
| World Fuel Services Corp. | &nbsp;&nbsp;12534 | &nbsp;&nbsp;&nbsp;&nbsp;342554 |
|  |  | 21738182 |
|  |  | 32160630 |
| **Financials – 16.5%** |  |  |
| **Banks – 9.5%** | **Banks – 9.5%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;3101 | &nbsp;&nbsp;&nbsp;&nbsp;164632 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;1888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75161 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68429 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;5770 | &nbsp;&nbsp;&nbsp;&nbsp;154867 |
| American National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;2727 | &nbsp;&nbsp;&nbsp;&nbsp;100708 |
| Ameris Bancorp | &nbsp;&nbsp;13607 | &nbsp;&nbsp;&nbsp;&nbsp;641434 |
| Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;105158 |
| Associated Banc-Corp. | &nbsp;&nbsp;30567 | &nbsp;&nbsp;&nbsp;&nbsp;705792 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;15315 | &nbsp;&nbsp;&nbsp;&nbsp;538169 |
| Banc of California, Inc. | &nbsp;&nbsp;11480 | &nbsp;&nbsp;&nbsp;&nbsp;182876 |
| BancFirst Corp. | &nbsp;&nbsp;&nbsp;3985 | &nbsp;&nbsp;&nbsp;&nbsp;351397 |
| Bank First Corp. (B) | &nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;129948 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Bank of Marin Bancorp | &nbsp;&nbsp;3595 | $118204 |
| BankUnited, Inc. | 16207 | 550552 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;48000 |
| Banner Corp. | &nbsp;&nbsp;6867 | 433994 |
| Bar Harbor Bankshares | &nbsp;&nbsp;3689 | 118196 |
| BayCom Corp. | &nbsp;&nbsp;3065 | &nbsp;&nbsp;&nbsp;58174 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;3462 | &nbsp;&nbsp;&nbsp;62281 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;9375 | 280313 |
| Blue Ridge Bankshares, Inc. | &nbsp;&nbsp;4037 | &nbsp;&nbsp;&nbsp;50422 |
| Brookline Bancorp, Inc. | 15649 | 221433 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;4889 | 108242 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;5034 | 115631 |
| Cadence Bank | 37365 | 921421 |
| Cambridge Bancorp | &nbsp;&nbsp;1456 | 120935 |
| Camden National Corp. | &nbsp;&nbsp;2930 | 122152 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;2324 | &nbsp;&nbsp;&nbsp;54707 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;95680 |
| Capstar Financial Holdings, Inc. | &nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;86093 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;5502 | &nbsp;&nbsp;&nbsp;91278 |
| Cathay General Bancorp | 14643 | 597288 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;5699 | 115576 |
| Citizens & Northern Corp. | &nbsp;&nbsp;3747 | &nbsp;&nbsp;&nbsp;85656 |
| City Holding Company | &nbsp;&nbsp;2716 | 252832 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;3755 | &nbsp;&nbsp;&nbsp;82648 |
| CNB Financial Corp. | &nbsp;&nbsp;3667 | &nbsp;&nbsp;&nbsp;87238 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;2388 | 113478 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;4518 | &nbsp;&nbsp;&nbsp;57333 |
| Columbia Banking System, Inc. | 16014 | 482502 |
| Community Bank System, Inc. | 10826 | 681497 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;3022 | 138800 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;7760 | 187870 |
| CrossFirst Bankshares, Inc. (A) | &nbsp;&nbsp;9857 | 122325 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;6272 | 177748 |
| CVB Financial Corp. | 26902 | 692727 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;6797 | 216349 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;6321 | 278566 |
| Eastern Bankshares, Inc. | 32700 | 564075 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;6961 | 340811 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;3452 | 112777 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;1593 | &nbsp;&nbsp;&nbsp;68913 |
| Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;75479 |
| Farmers National Banc Corp. | &nbsp;&nbsp;7030 | &nbsp;&nbsp;&nbsp;99264 |
| FB Financial Corp. | &nbsp;&nbsp;7405 | 267617 |
| Financial Institutions, Inc. | &nbsp;&nbsp;3519 | &nbsp;&nbsp;&nbsp;85723 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;7156 | 306563 |
| First BanCorp (Puerto Rico) | 38187 | 485739 |
| First Bank | &nbsp;&nbsp;4155 | &nbsp;&nbsp;&nbsp;57173 |
| First Busey Corp. | 10583 | 261612 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;1871 | &nbsp;&nbsp;&nbsp;68385 |
| First Commonwealth Financial Corp. | 18837 | 263153 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;3659 | 124040 |
| First Financial Bancorp | 19080 | 462308 |
| First Financial Bankshares, Inc. | 26951 | 927114 |
| First Financial Corp. | &nbsp;&nbsp;1964 | &nbsp;&nbsp;&nbsp;90501 |
| First Foundation, Inc. | 10620 | 152185 |
| First Internet Bancorp | &nbsp;&nbsp;1928 | &nbsp;&nbsp;&nbsp;46812 |
| First Interstate BancSystem, Inc., Class A | 18909 | 730833 |
| First Merchants Corp. | 11648 | 478849 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;3935 | 126235 |
| First Western Financial, Inc. (A) | &nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;48671 |
| Five Star Bancorp | &nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;58157 |
| Flushing Financial Corp. | &nbsp;&nbsp;6215 | 120447 |
| Fulton Financial Corp. | 32845 | 552781 |
| FVCBankcorp, Inc. (A) | &nbsp;&nbsp;3267 | &nbsp;&nbsp;&nbsp;62302 |
| German American Bancorp, Inc. | &nbsp;&nbsp;5442 | 202987 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Glacier Bancorp, Inc. | 22830 | $1128259 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;1726 | &nbsp;&nbsp;&nbsp;&nbsp;102680 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;70111 |
| Hancock Whitney Corp. | 17668 | &nbsp;&nbsp;&nbsp;&nbsp;854955 |
| Hanmi Financial Corp. | &nbsp;&nbsp;6283 | &nbsp;&nbsp;&nbsp;&nbsp;155504 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;9967 | &nbsp;&nbsp;&nbsp;&nbsp;138541 |
| Heartland Financial USA, Inc. | &nbsp;&nbsp;8328 | &nbsp;&nbsp;&nbsp;&nbsp;388251 |
| Heritage Commerce Corp. | 12904 | &nbsp;&nbsp;&nbsp;&nbsp;167752 |
| Heritage Financial Corp. | &nbsp;&nbsp;7010 | &nbsp;&nbsp;&nbsp;&nbsp;214786 |
| Hilltop Holdings, Inc. | 10680 | &nbsp;&nbsp;&nbsp;&nbsp;320507 |
| Home BancShares, Inc. | 38654 | &nbsp;&nbsp;&nbsp;&nbsp;880925 |
| HomeStreet, Inc. | &nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;105576 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;3590 | &nbsp;&nbsp;&nbsp;&nbsp;86770 |
| Hope Bancorp, Inc. | 23274 | &nbsp;&nbsp;&nbsp;&nbsp;298140 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;8685 | &nbsp;&nbsp;&nbsp;&nbsp;130970 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;9363 | &nbsp;&nbsp;&nbsp;&nbsp;790518 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;4866 | &nbsp;&nbsp;&nbsp;&nbsp;116395 |
| Independent Bank Group, Inc. | &nbsp;&nbsp;7392 | &nbsp;&nbsp;&nbsp;&nbsp;444111 |
| International Bancshares Corp. | 10863 | &nbsp;&nbsp;&nbsp;&nbsp;497091 |
| John Marshall Bancorp, Inc. | &nbsp;&nbsp;2602 | &nbsp;&nbsp;&nbsp;&nbsp;74886 |
| Lakeland Bancorp, Inc. | 12832 | &nbsp;&nbsp;&nbsp;&nbsp;225972 |
| Lakeland Financial Corp. | &nbsp;&nbsp;4901 | &nbsp;&nbsp;&nbsp;&nbsp;357626 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;7021 | &nbsp;&nbsp;&nbsp;&nbsp;212034 |
| Macatawa Bank Corp. | &nbsp;&nbsp;7411 | &nbsp;&nbsp;&nbsp;&nbsp;81743 |
| Mercantile Bank Corp. | &nbsp;&nbsp;3504 | &nbsp;&nbsp;&nbsp;&nbsp;117314 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;4321 | &nbsp;&nbsp;&nbsp;&nbsp;93463 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;2170 | &nbsp;&nbsp;&nbsp;&nbsp;127314 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;3494 | &nbsp;&nbsp;&nbsp;&nbsp;104715 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;4612 | &nbsp;&nbsp;&nbsp;&nbsp;122771 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;3222 | &nbsp;&nbsp;&nbsp;&nbsp;102299 |
| MVB Financial Corp. | &nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;51373 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp;246025 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;8201 | &nbsp;&nbsp;&nbsp;&nbsp;356087 |
| Nicolet Bankshares, Inc. (A) | &nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;&nbsp;196283 |
| Northeast Bank | &nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp;60329 |
| Northwest Bancshares, Inc. | 24010 | &nbsp;&nbsp;&nbsp;&nbsp;335660 |
| OceanFirst Financial Corp. | 11710 | &nbsp;&nbsp;&nbsp;&nbsp;248838 |
| OFG Bancorp | &nbsp;&nbsp;9236 | &nbsp;&nbsp;&nbsp;&nbsp;254544 |
| Old National Bancorp | 60171 | 1081875 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;9404 | &nbsp;&nbsp;&nbsp;&nbsp;150840 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;4671 | &nbsp;&nbsp;&nbsp;&nbsp;171426 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;2757 | &nbsp;&nbsp;&nbsp;&nbsp;63852 |
| Pacific Premier Bancorp, Inc. | 19379 | &nbsp;&nbsp;&nbsp;&nbsp;611601 |
| Park National Corp. | &nbsp;&nbsp;2851 | &nbsp;&nbsp;&nbsp;&nbsp;401278 |
| Parke Bancorp, Inc. | &nbsp;&nbsp;2673 | &nbsp;&nbsp;&nbsp;&nbsp;55438 |
| Pathward Financial, Inc. | &nbsp;&nbsp;6076 | &nbsp;&nbsp;&nbsp;&nbsp;261572 |
| PCB Bancorp | &nbsp;&nbsp;3552 | &nbsp;&nbsp;&nbsp;&nbsp;62835 |
| PCSB Financial Corp. (B) | &nbsp;&nbsp;3509 | &nbsp;&nbsp;&nbsp;&nbsp;66811 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;3706 | &nbsp;&nbsp;&nbsp;&nbsp;137937 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;5682 | &nbsp;&nbsp;&nbsp;&nbsp;160517 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;84084 |
| Preferred Bank | &nbsp;&nbsp;2696 | &nbsp;&nbsp;&nbsp;&nbsp;201176 |
| Premier Financial Corp. | &nbsp;&nbsp;7482 | &nbsp;&nbsp;&nbsp;&nbsp;201790 |
| Primis Financial Corp. | &nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp;71657 |
| Professional Holding Corp., Class A (A) | &nbsp;&nbsp;2884 | &nbsp;&nbsp;&nbsp;&nbsp;80002 |
| QCR Holdings, Inc. | &nbsp;&nbsp;3115 | &nbsp;&nbsp;&nbsp;&nbsp;154629 |
| RBB Bancorp | &nbsp;&nbsp;3586 | &nbsp;&nbsp;&nbsp;&nbsp;74768 |
| Renasant Corp. | 11199 | &nbsp;&nbsp;&nbsp;&nbsp;420970 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;1875 | &nbsp;&nbsp;&nbsp;&nbsp;76725 |
| Republic First Bancorp, Inc. (A) | 12904 | &nbsp;&nbsp;&nbsp;&nbsp;27744 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;7682 | &nbsp;&nbsp;&nbsp;&nbsp;262571 |
| Sandy Spring Bancorp, Inc. | &nbsp;&nbsp;8894 | &nbsp;&nbsp;&nbsp;&nbsp;313336 |
| Seacoast Banking Corp. of Florida | 12424 | &nbsp;&nbsp;&nbsp;&nbsp;387505 |
| ServisFirst Bancshares, Inc. | 10298 | &nbsp;&nbsp;&nbsp;&nbsp;709635 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;4386 | &nbsp;&nbsp;&nbsp;&nbsp;76448 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Sierra Bancorp | &nbsp;&nbsp;3651 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77547 |
| Silvergate Capital Corp., Class A (A) | &nbsp;&nbsp;6595 | &nbsp;&nbsp;&nbsp;&nbsp;114753 |
| Simmons First National Corp., Class A | 25276 | &nbsp;&nbsp;&nbsp;&nbsp;545456 |
| SmartFinancial, Inc. | &nbsp;&nbsp;3659 | &nbsp;&nbsp;&nbsp;&nbsp;100623 |
| South Plains Financial, Inc. | &nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55693 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;1911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87428 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;5879 | &nbsp;&nbsp;&nbsp;&nbsp;211585 |
| SouthState Corp. | 15422 | &nbsp;&nbsp;&nbsp;1177604 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;9647 | &nbsp;&nbsp;&nbsp;&nbsp;284201 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;5856 | &nbsp;&nbsp;&nbsp;&nbsp;380523 |
| Texas Capital Bancshares, Inc. (A) | 10361 | &nbsp;&nbsp;&nbsp;&nbsp;624872 |
| The Bancorp, Inc. (A) | 11501 | &nbsp;&nbsp;&nbsp;&nbsp;326398 |
| The Bank of NT Butterfield & Son, Ltd. | 10226 | &nbsp;&nbsp;&nbsp;&nbsp;304837 |
| The First Bancorp, Inc. | &nbsp;&nbsp;2667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79850 |
| The First Bancshares, Inc. | &nbsp;&nbsp;4234 | &nbsp;&nbsp;&nbsp;&nbsp;135530 |
| The First of Long Island Corp. | &nbsp;&nbsp;5562 | &nbsp;&nbsp;&nbsp;&nbsp;100116 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59547 |
| Tompkins Financial Corp. | &nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;203492 |
| Towne Bank | 13530 | &nbsp;&nbsp;&nbsp;&nbsp;417265 |
| TriCo Bancshares | &nbsp;&nbsp;6227 | &nbsp;&nbsp;&nbsp;&nbsp;317515 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;4996 | &nbsp;&nbsp;&nbsp;&nbsp;244155 |
| Trustmark Corp. | 12327 | &nbsp;&nbsp;&nbsp;&nbsp;430336 |
| UMB Financial Corp. | &nbsp;&nbsp;9065 | &nbsp;&nbsp;&nbsp;&nbsp;757109 |
| United Bankshares, Inc. | 26912 | &nbsp;&nbsp;&nbsp;1089667 |
| United Community Banks, Inc. | 21742 | &nbsp;&nbsp;&nbsp;&nbsp;734880 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;1769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48347 |
| Univest Financial Corp. | &nbsp;&nbsp;6178 | &nbsp;&nbsp;&nbsp;&nbsp;161431 |
| Valley National Bancorp | 88966 | &nbsp;&nbsp;&nbsp;1006205 |
| Veritex Holdings, Inc. | 10757 | &nbsp;&nbsp;&nbsp;&nbsp;302057 |
| Washington Federal, Inc. | 13222 | &nbsp;&nbsp;&nbsp;&nbsp;443598 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;3476 | &nbsp;&nbsp;&nbsp;&nbsp;163998 |
| WesBanco, Inc. | 11521 | &nbsp;&nbsp;&nbsp;&nbsp;426047 |
| West BanCorp, Inc. | &nbsp;&nbsp;4090 | &nbsp;&nbsp;&nbsp;&nbsp;104500 |
| Westamerica BanCorp | &nbsp;&nbsp;4943 | &nbsp;&nbsp;&nbsp;&nbsp;291686 |
|  |  | 46927209 |
| **Capital markets – 1.6%** | **Capital markets – 1.6%** |  |
| Artisan Partners Asset Management, Inc., Class A | 12336 | &nbsp;&nbsp;&nbsp;&nbsp;366379 |
| AssetMark Financial Holdings, Inc. (A) | &nbsp;&nbsp;4554 | &nbsp;&nbsp;&nbsp;&nbsp;104742 |
| B. Riley Financial, Inc. | &nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;144837 |
| BGC Partners, Inc., Class A | 66356 | &nbsp;&nbsp;&nbsp;&nbsp;250162 |
| Blucora, Inc. (A) | &nbsp;&nbsp;9975 | &nbsp;&nbsp;&nbsp;&nbsp;254662 |
| Brightsphere Investment Group, Inc. | &nbsp;&nbsp;6724 | &nbsp;&nbsp;&nbsp;&nbsp;138380 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;5212 | &nbsp;&nbsp;&nbsp;&nbsp;336487 |
| Cowen, Inc., Class A | &nbsp;&nbsp;5426 | &nbsp;&nbsp;&nbsp;&nbsp;209552 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;120448 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;5334 | &nbsp;&nbsp;&nbsp;&nbsp;206159 |
| Ellington Financial, Inc. | 11653 | &nbsp;&nbsp;&nbsp;&nbsp;144148 |
| Federated Hermes, Inc. | 17462 | &nbsp;&nbsp;&nbsp;&nbsp;634045 |
| Focus Financial Partners, Inc., Class A (A) | 12110 | &nbsp;&nbsp;&nbsp;&nbsp;451340 |
| GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;9151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69639 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;&nbsp;473990 |
| Houlihan Lokey, Inc. | 10284 | &nbsp;&nbsp;&nbsp;&nbsp;896353 |
| Moelis & Company, Class A | 13242 | &nbsp;&nbsp;&nbsp;&nbsp;508096 |
| Open Lending Corp., Class A (A) | 22248 | &nbsp;&nbsp;&nbsp;&nbsp;150174 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75263 |
| Perella Weinberg Partners | &nbsp;&nbsp;8092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79302 |
| Piper Sandler Companies | &nbsp;&nbsp;3555 | &nbsp;&nbsp;&nbsp;&nbsp;462825 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;4892 | &nbsp;&nbsp;&nbsp;&nbsp;360491 |
| Sculptor Capital Management, Inc. | &nbsp;&nbsp;5551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48072 |
| Silvercrest Asset Management Group, Inc., Class A | &nbsp;&nbsp;2252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42270 |
| StepStone Group, Inc., Class A | 11209 | &nbsp;&nbsp;&nbsp;&nbsp;282243 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;3491 | &nbsp;&nbsp;&nbsp;&nbsp;332692 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;3414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91598 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;1468 | $&nbsp;&nbsp;&nbsp;&nbsp;281034 |
| WisdomTree, Inc. | &nbsp;&nbsp;28986 | &nbsp;&nbsp;&nbsp;&nbsp;157974 |
|  |  | 7673357 |
| **Consumer finance – 0.7%** | **Consumer finance – 0.7%** |  |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;10302 | &nbsp;&nbsp;&nbsp;&nbsp;387973 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4802 | &nbsp;&nbsp;&nbsp;&nbsp;230208 |
| Enova International, Inc. (A) | &nbsp;&nbsp;&nbsp;6411 | &nbsp;&nbsp;&nbsp;&nbsp;245990 |
| EZCORP, Inc., Class A (A) | &nbsp;&nbsp;10630 | &nbsp;&nbsp;&nbsp;&nbsp;86635 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;7882 | &nbsp;&nbsp;&nbsp;&nbsp;685025 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;10133 | &nbsp;&nbsp;&nbsp;&nbsp;160304 |
| LendingClub Corp. (A) | &nbsp;&nbsp;21718 | &nbsp;&nbsp;&nbsp;&nbsp;191118 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp;49486 |
| Navient Corp. | &nbsp;&nbsp;22641 | &nbsp;&nbsp;&nbsp;&nbsp;372444 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp;268529 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp;55507 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;&nbsp;6425 | &nbsp;&nbsp;&nbsp;&nbsp;35402 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;&nbsp;8091 | &nbsp;&nbsp;&nbsp;&nbsp;273314 |
| PROG Holdings, Inc. (A) | &nbsp;&nbsp;10610 | &nbsp;&nbsp;&nbsp;&nbsp;179203 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;1784 | &nbsp;&nbsp;&nbsp;&nbsp;50095 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp;58489 |
|  |  | 3329722 |
| **Diversified financial services – 0.3%** | **Diversified financial services – 0.3%** |  |
| Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;3801 | &nbsp;&nbsp;&nbsp;&nbsp;88753 |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp;124264 |
| Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;6383 | &nbsp;&nbsp;&nbsp;&nbsp;103405 |
| Cannae Holdings, Inc. (A) | &nbsp;&nbsp;14845 | &nbsp;&nbsp;&nbsp;&nbsp;306549 |
| Compass Diversified Holdings | &nbsp;&nbsp;12892 | &nbsp;&nbsp;&nbsp;&nbsp;235021 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;15221 | &nbsp;&nbsp;&nbsp;&nbsp;529539 |
|  |  | 1387531 |
| **Insurance – 2.0%** | **Insurance – 2.0%** |  |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;9375 | &nbsp;&nbsp;&nbsp;&nbsp;163500 |
| American Equity Investment Life Holding Company | &nbsp;&nbsp;14454 | &nbsp;&nbsp;&nbsp;&nbsp;659391 |
| AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;4038 | &nbsp;&nbsp;&nbsp;&nbsp;209855 |
| Argo Group International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6603 | &nbsp;&nbsp;&nbsp;&nbsp;170688 |
| Bright Health Group, Inc. (A) | &nbsp;&nbsp;43136 | &nbsp;&nbsp;&nbsp;&nbsp;28034 |
| BRP Group, Inc., Class A (A) | &nbsp;&nbsp;12550 | &nbsp;&nbsp;&nbsp;&nbsp;315507 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;23514 | &nbsp;&nbsp;&nbsp;&nbsp;537295 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;3595 | &nbsp;&nbsp;&nbsp;&nbsp;51049 |
| eHealth, Inc. (A) | &nbsp;&nbsp;&nbsp;5478 | &nbsp;&nbsp;&nbsp;&nbsp;26514 |
| Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;5686 | &nbsp;&nbsp;&nbsp;&nbsp;245237 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;542944 |
| Genworth Financial, Inc., Class A (A) | 101363 | &nbsp;&nbsp;&nbsp;&nbsp;536210 |
| Goosehead Insurance, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4021 | &nbsp;&nbsp;&nbsp;&nbsp;138081 |
| Greenlight Capital Re, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;6608 | &nbsp;&nbsp;&nbsp;&nbsp;53855 |
| HCI Group, Inc. (B) | &nbsp;&nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;56693 |
| Hippo Holdings, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;4017 | &nbsp;&nbsp;&nbsp;&nbsp;54631 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;8476 | &nbsp;&nbsp;&nbsp;&nbsp;316748 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;27887 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;7818 | &nbsp;&nbsp;&nbsp;&nbsp;163474 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;4445 | 1162456 |
| Lemonade, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;9857 | &nbsp;&nbsp;&nbsp;&nbsp;134844 |
| MBIA, Inc. (A) | &nbsp;&nbsp;10063 | &nbsp;&nbsp;&nbsp;&nbsp;129310 |
| Mercury General Corp. | &nbsp;&nbsp;&nbsp;5526 | &nbsp;&nbsp;&nbsp;&nbsp;188989 |
| National Western Life Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;126731 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;27404 | &nbsp;&nbsp;&nbsp;&nbsp;67414 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5029 | &nbsp;&nbsp;&nbsp;&nbsp;227110 |
| ProAssurance Corp. | &nbsp;&nbsp;11328 | &nbsp;&nbsp;&nbsp;&nbsp;197900 |
| RLI Corp. | &nbsp;&nbsp;&nbsp;7998 | 1049897 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;2929 | &nbsp;&nbsp;&nbsp;&nbsp;246798 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;12269 | 1087156 |
| Selectquote, Inc. (A) | &nbsp;&nbsp;29055 | &nbsp;&nbsp;&nbsp;&nbsp;19522 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;20426 | &nbsp;&nbsp;&nbsp;&nbsp;120513 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Stewart Information Services Corp. | &nbsp;&nbsp;5520 | $&nbsp;&nbsp;&nbsp;&nbsp;235870 |
| Tiptree, Inc. | &nbsp;&nbsp;5632 | &nbsp;&nbsp;&nbsp;&nbsp;77947 |
| Trean Insurance Group, Inc. (A) | &nbsp;&nbsp;4979 | &nbsp;&nbsp;&nbsp;&nbsp;29874 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;8108 | &nbsp;&nbsp;&nbsp;&nbsp;385373 |
| United Fire Group, Inc. | &nbsp;&nbsp;4606 | &nbsp;&nbsp;&nbsp;&nbsp;126020 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;6066 | &nbsp;&nbsp;&nbsp;&nbsp;64239 |
|  |  | 9975556 |
| **Mortgage real estate investment trusts – 1.1%** | **Mortgage real estate investment trusts – 1.1%** |  |
| AFC Gamma, Inc. | &nbsp;&nbsp;3801 | &nbsp;&nbsp;&nbsp;&nbsp;59790 |
| Apollo Commercial Real Estate Finance, Inc. | 28700 | &nbsp;&nbsp;&nbsp;&nbsp;308812 |
| Arbor Realty Trust, Inc. | 33979 | &nbsp;&nbsp;&nbsp;&nbsp;448183 |
| Ares Commercial Real Estate Corp. | &nbsp;&nbsp;9491 | &nbsp;&nbsp;&nbsp;&nbsp;97662 |
| ARMOUR Residential REIT, Inc. | 26927 | &nbsp;&nbsp;&nbsp;&nbsp;151599 |
| Blackstone Mortgage Trust, Inc., Class A | 34840 | &nbsp;&nbsp;&nbsp;&nbsp;737563 |
| BrightSpire Capital, Inc. | 20280 | &nbsp;&nbsp;&nbsp;&nbsp;126344 |
| Broadmark Realty Capital, Inc. | 27319 | &nbsp;&nbsp;&nbsp;&nbsp;97256 |
| Chimera Investment Corp. | 48657 | &nbsp;&nbsp;&nbsp;&nbsp;267614 |
| Claros Mortgage Trust, Inc. | 18907 | &nbsp;&nbsp;&nbsp;&nbsp;278122 |
| Dynex Capital, Inc. | &nbsp;&nbsp;8843 | &nbsp;&nbsp;&nbsp;&nbsp;112483 |
| Franklin BSP Realty Trust, Inc. | 17344 | &nbsp;&nbsp;&nbsp;&nbsp;223738 |
| Granite Point Mortgage Trust, Inc. | 11496 | &nbsp;&nbsp;&nbsp;&nbsp;61619 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 18050 | &nbsp;&nbsp;&nbsp;&nbsp;523089 |
| Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;7495 | &nbsp;&nbsp;&nbsp;&nbsp;95411 |
| KKR Real Estate Finance Trust, Inc. | 10853 | &nbsp;&nbsp;&nbsp;&nbsp;151508 |
| Ladder Capital Corp. | 23445 | &nbsp;&nbsp;&nbsp;&nbsp;235388 |
| MFA Financial, Inc. | 21445 | &nbsp;&nbsp;&nbsp;&nbsp;211233 |
| New York Mortgage Trust, Inc. | 79757 | &nbsp;&nbsp;&nbsp;&nbsp;204178 |
| Orchid Island Capital, Inc. | &nbsp;&nbsp;7545 | &nbsp;&nbsp;&nbsp;&nbsp;79223 |
| PennyMac Mortgage Investment Trust | 18540 | &nbsp;&nbsp;&nbsp;&nbsp;229711 |
| Ready Capital Corp. | 15183 | &nbsp;&nbsp;&nbsp;&nbsp;169139 |
| Redwood Trust, Inc. | 24744 | &nbsp;&nbsp;&nbsp;&nbsp;167269 |
| TPG RE Finance Trust, Inc. | 14613 | &nbsp;&nbsp;&nbsp;&nbsp;99222 |
| Two Harbors Investment Corp. | 17729 | &nbsp;&nbsp;&nbsp;&nbsp;279586 |
|  |  | 5415742 |
| **Thrifts and mortgage finance – 1.3%** | **Thrifts and mortgage finance – 1.3%** |  |
| Axos Financial, Inc. (A) | 11781 | &nbsp;&nbsp;&nbsp;&nbsp;450270 |
| Blue Foundry Bancorp (A) | &nbsp;&nbsp;6667 | &nbsp;&nbsp;&nbsp;&nbsp;85671 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;5005 | &nbsp;&nbsp;&nbsp;&nbsp;88789 |
| Capitol Federal Financial, Inc. | 26813 | &nbsp;&nbsp;&nbsp;&nbsp;231932 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;7052 | &nbsp;&nbsp;&nbsp;&nbsp;152464 |
| Enact Holdings, Inc. | &nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp;145854 |
| Essent Group, Ltd. | 21590 | &nbsp;&nbsp;&nbsp;&nbsp;839419 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;212458 |
| Greene County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;30835 |
| Home Bancorp, Inc. | &nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp;72534 |
| Kearny Financial Corp. | 13071 | &nbsp;&nbsp;&nbsp;&nbsp;132671 |
| Luther Burbank Corp. | &nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;&nbsp;40129 |
| Merchants Bancorp | &nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;79040 |
| Mr. Cooper Group, Inc. (A) | 14375 | &nbsp;&nbsp;&nbsp;&nbsp;576869 |
| New York Community Bancorp, Inc. | &nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;&nbsp;25817 |
| NMI Holdings, Inc., Class A (A) | 17143 | &nbsp;&nbsp;&nbsp;&nbsp;358289 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;9551 | &nbsp;&nbsp;&nbsp;&nbsp;150237 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp;321262 |
| Provident Bancorp, Inc. | &nbsp;&nbsp;4019 | &nbsp;&nbsp;&nbsp;&nbsp;29258 |
| Provident Financial Services, Inc. | 14755 | &nbsp;&nbsp;&nbsp;&nbsp;315167 |
| Radian Group, Inc. | 33041 | &nbsp;&nbsp;&nbsp;&nbsp;630092 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;82311 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp;84720 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;4053 | &nbsp;&nbsp;&nbsp;&nbsp;152352 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;6347 | &nbsp;&nbsp;&nbsp;&nbsp;498113 |
| Waterstone Financial, Inc. | &nbsp;&nbsp;5392 | &nbsp;&nbsp;&nbsp;&nbsp;92958 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thrifts and mortgage finance (continued)** | **Thrifts and mortgage finance (continued)** |  |
| WSFS Financial Corp. | 13110 | $&nbsp;&nbsp;&nbsp;&nbsp;594407 |
|  |  | &nbsp;&nbsp;&nbsp;6473918 |
|  |  | 81183035 |
| **Health care – 16.2%** |  |  |
| **Biotechnology – 7.1%** | **Biotechnology – 7.1%** |  |
| 2seventy bio, Inc. (A) | &nbsp;&nbsp;8160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76459 |
| 4D Molecular Therapeutics, Inc. (A) | &nbsp;&nbsp;6302 | &nbsp;&nbsp;&nbsp;&nbsp;139967 |
| Aadi Bioscience, Inc. (A) | &nbsp;&nbsp;3351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42993 |
| Absci Corp. (A) | 12283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25794 |
| ACADIA Pharmaceuticals, Inc. (A) | 24831 | &nbsp;&nbsp;&nbsp;&nbsp;395310 |
| Achillion Pharmaceuticals, Inc. (A)(C) | 38157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57381 |
| Adicet Bio, Inc. (A) | &nbsp;&nbsp;6214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55553 |
| ADMA Biologics, Inc. (A) | 38953 | &nbsp;&nbsp;&nbsp;&nbsp;151138 |
| Aduro Biotech, Inc. (A)(C) | &nbsp;&nbsp;4010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 |
| Aerovate Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;1857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54410 |
| Affimed NV (A) | 30948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38376 |
| Agenus, Inc. (A) | 63193 | &nbsp;&nbsp;&nbsp;&nbsp;151663 |
| Agios Pharmaceuticals, Inc. (A) | 11440 | &nbsp;&nbsp;&nbsp;&nbsp;321235 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;7165 | &nbsp;&nbsp;&nbsp;&nbsp;392642 |
| Albireo Pharma, Inc. (A) | &nbsp;&nbsp;3774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81556 |
| Alector, Inc. (A) | 13251 | &nbsp;&nbsp;&nbsp;&nbsp;122307 |
| Alkermes PLC (A) | 33681 | &nbsp;&nbsp;&nbsp;&nbsp;880085 |
| Allogene Therapeutics, Inc. (A) | 16710 | &nbsp;&nbsp;&nbsp;&nbsp;105106 |
| Allovir, Inc. (A) | &nbsp;&nbsp;7023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36028 |
| Alpine Immune Sciences, Inc. (A) | &nbsp;&nbsp;4792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35221 |
| ALX Oncology Holdings, Inc. (A) | &nbsp;&nbsp;4616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52022 |
| Amicus Therapeutics, Inc. (A) | 56972 | &nbsp;&nbsp;&nbsp;&nbsp;695628 |
| AnaptysBio, Inc. (A) | &nbsp;&nbsp;4298 | &nbsp;&nbsp;&nbsp;&nbsp;133195 |
| Anavex Life Sciences Corp. (A)(B) | 14379 | &nbsp;&nbsp;&nbsp;&nbsp;133150 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;3118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92293 |
| Apellis Pharmaceuticals, Inc. (A) | 19384 | &nbsp;&nbsp;&nbsp;1002347 |
| Arbutus Biopharma Corp. (A)(B) | 23992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55901 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;6117 | &nbsp;&nbsp;&nbsp;&nbsp;189505 |
| Arcturus Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;4840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82086 |
| Arcus Biosciences, Inc. (A) | 10633 | &nbsp;&nbsp;&nbsp;&nbsp;219890 |
| Arcutis Biotherapeutics, Inc. (A) | &nbsp;&nbsp;8533 | &nbsp;&nbsp;&nbsp;&nbsp;126288 |
| Arrowhead Pharmaceuticals, Inc. (A) | 21349 | &nbsp;&nbsp;&nbsp;&nbsp;865915 |
| Atara Biotherapeutics, Inc. (A) | 19576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64209 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;4035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42368 |
| Aurinia Pharmaceuticals, Inc. (A) | 27990 | &nbsp;&nbsp;&nbsp;&nbsp;120917 |
| Avid Bioservices, Inc. (A) | 12788 | &nbsp;&nbsp;&nbsp;&nbsp;176091 |
| Avidity Biosciences, Inc. (A) | 11121 | &nbsp;&nbsp;&nbsp;&nbsp;246775 |
| Beam Therapeutics, Inc. (A) | 13159 | &nbsp;&nbsp;&nbsp;&nbsp;514648 |
| BioCryst Pharmaceuticals, Inc. (A) | 38306 | &nbsp;&nbsp;&nbsp;&nbsp;439753 |
| Biohaven, Ltd. (A) | 13127 | &nbsp;&nbsp;&nbsp;&nbsp;182203 |
| Bioxcel Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;4080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87638 |
| Bluebird Bio, Inc. (A) | 17226 | &nbsp;&nbsp;&nbsp;&nbsp;119204 |
| Blueprint Medicines Corp. (A) | 12395 | &nbsp;&nbsp;&nbsp;&nbsp;543025 |
| Bridgebio Pharma, Inc. (A) | 22410 | &nbsp;&nbsp;&nbsp;&nbsp;170764 |
| C4 Therapeutics, Inc. (A) | &nbsp;&nbsp;9439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55690 |
| CareDx, Inc. (A) | 10614 | &nbsp;&nbsp;&nbsp;&nbsp;121106 |
| Caribou Biosciences, Inc. (A) | 11910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74795 |
| Catalyst Pharmaceuticals, Inc. (A) | 19927 | &nbsp;&nbsp;&nbsp;&nbsp;370642 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;9468 | &nbsp;&nbsp;&nbsp;&nbsp;421989 |
| Celularity, Inc. (A) | 14694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18955 |
| Century Therapeutics, Inc. (A) | &nbsp;&nbsp;4647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23839 |
| Cerevel Therapeutics Holdings, Inc. (A) | 11819 | &nbsp;&nbsp;&nbsp;&nbsp;372771 |
| Chimerix, Inc. (A) | 17308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32193 |
| Chinook Therapeutics, Inc. (A) | 10378 | &nbsp;&nbsp;&nbsp;&nbsp;271904 |
| Cogent Biosciences, Inc. (A) | 13204 | &nbsp;&nbsp;&nbsp;&nbsp;152638 |
| Coherus Biosciences, Inc. (A) | 15700 | &nbsp;&nbsp;&nbsp;&nbsp;124344 |
| Crinetics Pharmaceuticals, Inc. (A) | 11023 | &nbsp;&nbsp;&nbsp;&nbsp;201721 |
| CTI BioPharma Corp. (A) | 20562 | &nbsp;&nbsp;&nbsp;&nbsp;123578 |
| Cullinan Oncology, Inc. (A) | &nbsp;&nbsp;6412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67647 |
| Cytokinetics, Inc. (A) | 16944 | &nbsp;&nbsp;&nbsp;&nbsp;776374 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;5657 | $&nbsp;&nbsp;&nbsp;&nbsp;121739 |
| Deciphera Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;9531 | &nbsp;&nbsp;&nbsp;&nbsp;156213 |
| Denali Therapeutics, Inc. (A) | 22524 | &nbsp;&nbsp;&nbsp;&nbsp;626392 |
| Design Therapeutics, Inc. (A) | &nbsp;&nbsp;7202 | &nbsp;&nbsp;&nbsp;&nbsp;73893 |
| Dynavax Technologies Corp. (A) | 24631 | &nbsp;&nbsp;&nbsp;&nbsp;262074 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;6752 | &nbsp;&nbsp;&nbsp;&nbsp;78256 |
| Eagle Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;61500 |
| Editas Medicine, Inc. (A) | 14482 | &nbsp;&nbsp;&nbsp;&nbsp;128455 |
| Emergent BioSolutions, Inc. (A) | 10784 | &nbsp;&nbsp;&nbsp;&nbsp;127359 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4079 | &nbsp;&nbsp;&nbsp;&nbsp;189755 |
| EQRx, Inc. (A) | 41956 | &nbsp;&nbsp;&nbsp;&nbsp;103212 |
| Erasca, Inc. (A) | 14105 | &nbsp;&nbsp;&nbsp;&nbsp;60793 |
| Fate Therapeutics, Inc. (A) | 17326 | &nbsp;&nbsp;&nbsp;&nbsp;174819 |
| FibroGen, Inc. (A) | 18323 | &nbsp;&nbsp;&nbsp;&nbsp;293534 |
| Foghorn Therapeutics, Inc. (A) | &nbsp;&nbsp;4381 | &nbsp;&nbsp;&nbsp;&nbsp;27951 |
| Generation Bio Company (A) | 10344 | &nbsp;&nbsp;&nbsp;&nbsp;40652 |
| Geron Corp. (A) | 75559 | &nbsp;&nbsp;&nbsp;&nbsp;182853 |
| Gossamer Bio, Inc. (A)(B) | 13653 | &nbsp;&nbsp;&nbsp;&nbsp;29627 |
| GreenLight Biosciences Holdings PBC (A) | 13484 | &nbsp;&nbsp;&nbsp;&nbsp;15911 |
| Halozyme Therapeutics, Inc. (A) | 27606 | 1570781 |
| Heron Therapeutics, Inc. (A)(B) | 22663 | &nbsp;&nbsp;&nbsp;&nbsp;56658 |
| HilleVax, Inc. (A) | &nbsp;&nbsp;3622 | &nbsp;&nbsp;&nbsp;&nbsp;60596 |
| Humacyte, Inc. (A) | 13424 | &nbsp;&nbsp;&nbsp;&nbsp;28325 |
| Icosavax, Inc. (A) | &nbsp;&nbsp;4940 | &nbsp;&nbsp;&nbsp;&nbsp;39224 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;9126 | &nbsp;&nbsp;&nbsp;&nbsp;165819 |
| IGM Biosciences, Inc. (A) | &nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp;37507 |
| Imago Biosciences, Inc. (A) | &nbsp;&nbsp;5474 | &nbsp;&nbsp;&nbsp;&nbsp;196790 |
| ImmunityBio, Inc. (A) | 17605 | &nbsp;&nbsp;&nbsp;&nbsp;89257 |
| ImmunoGen, Inc. (A) | 44921 | &nbsp;&nbsp;&nbsp;&nbsp;222808 |
| Immunovant, Inc. (A) | &nbsp;&nbsp;9162 | &nbsp;&nbsp;&nbsp;&nbsp;162626 |
| Inhibrx, Inc. (A) | &nbsp;&nbsp;6734 | &nbsp;&nbsp;&nbsp;&nbsp;165926 |
| Inovio Pharmaceuticals, Inc. (A) | 51811 | &nbsp;&nbsp;&nbsp;&nbsp;80825 |
| Insmed, Inc. (A) | 28011 | &nbsp;&nbsp;&nbsp;&nbsp;559660 |
| Intellia Therapeutics, Inc. (A) | 17608 | &nbsp;&nbsp;&nbsp;&nbsp;614343 |
| Intercept Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp;64633 |
| Invivyd, Inc. (A) | 11974 | &nbsp;&nbsp;&nbsp;&nbsp;17961 |
| Iovance Biotherapeutics, Inc. (A) | 31455 | &nbsp;&nbsp;&nbsp;&nbsp;200997 |
| Ironwood Pharmaceuticals, Inc. (A) | 27921 | &nbsp;&nbsp;&nbsp;&nbsp;345941 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;4955 | &nbsp;&nbsp;&nbsp;&nbsp;96771 |
| IVERIC bio, Inc. (A) | 27776 | &nbsp;&nbsp;&nbsp;&nbsp;594684 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;3588 | &nbsp;&nbsp;&nbsp;&nbsp;47254 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;37471 |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;6243 | 1226750 |
| Karyopharm Therapeutics, Inc. (A) | 16283 | &nbsp;&nbsp;&nbsp;&nbsp;55362 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;3960 | &nbsp;&nbsp;&nbsp;&nbsp;190159 |
| Kezar Life Sciences, Inc. (A) | 11018 | &nbsp;&nbsp;&nbsp;&nbsp;77567 |
| Kiniksa Pharmaceuticals, Ltd., Class A (A) | &nbsp;&nbsp;6571 | &nbsp;&nbsp;&nbsp;&nbsp;98434 |
| Kinnate Biopharma, Inc. (A)(B) | &nbsp;&nbsp;6366 | &nbsp;&nbsp;&nbsp;&nbsp;38833 |
| Kodiak Sciences, Inc. (A) | &nbsp;&nbsp;7278 | &nbsp;&nbsp;&nbsp;&nbsp;52110 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;4362 | &nbsp;&nbsp;&nbsp;&nbsp;345558 |
| Kura Oncology, Inc. (A) | 13320 | &nbsp;&nbsp;&nbsp;&nbsp;165301 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;7933 | &nbsp;&nbsp;&nbsp;&nbsp;198008 |
| Lexicon Pharmaceuticals, Inc. (A) | 18102 | &nbsp;&nbsp;&nbsp;&nbsp;34575 |
| Lyell Immunopharma, Inc. (A)(B) | 36264 | &nbsp;&nbsp;&nbsp;&nbsp;125836 |
| MacroGenics, Inc. (A) | 13046 | &nbsp;&nbsp;&nbsp;&nbsp;87539 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;765099 |
| MannKind Corp. (A) | 52806 | &nbsp;&nbsp;&nbsp;&nbsp;278288 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;6846 | &nbsp;&nbsp;&nbsp;&nbsp;44636 |
| Mersana Therapeutics, Inc. (A) | 19191 | &nbsp;&nbsp;&nbsp;&nbsp;112459 |
| MiMedx Group, Inc. (A) | 24073 | &nbsp;&nbsp;&nbsp;&nbsp;66923 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp;73184 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;6481 | &nbsp;&nbsp;&nbsp;&nbsp;49320 |
| Morphic Holding, Inc. (A) | &nbsp;&nbsp;5494 | &nbsp;&nbsp;&nbsp;&nbsp;146965 |
| Myriad Genetics, Inc. (A) | 16505 | &nbsp;&nbsp;&nbsp;&nbsp;239488 |
| Nkarta, Inc. (A) | &nbsp;&nbsp;6895 | &nbsp;&nbsp;&nbsp;&nbsp;41301 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;9711 | $&nbsp;&nbsp;&nbsp;&nbsp;106627 |
| Nuvalent, Inc., Class A (A)(B) | &nbsp;&nbsp;4119 | &nbsp;&nbsp;&nbsp;&nbsp;122664 |
| Ocugen, Inc. (A)(B) | 46575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60548 |
| Organogenesis Holdings, Inc. (A) | 15287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41122 |
| PDL BioPharma, Inc. (A)(C) | 28581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33440 |
| PepGen, Inc. (A) | &nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41821 |
| PMV Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;7852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68312 |
| Point Biopharma Global, Inc. (A) | 17638 | &nbsp;&nbsp;&nbsp;&nbsp;128581 |
| Precigen, Inc. (A) | 21642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32896 |
| Prime Medicine, Inc. (A) | &nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39594 |
| Progenics Pharmaceuticals, Inc. (A)(C) | 24422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28107 |
| Prometheus Biosciences, Inc. (A) | &nbsp;&nbsp;7185 | &nbsp;&nbsp;&nbsp;&nbsp;790350 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;9984 | &nbsp;&nbsp;&nbsp;&nbsp;108925 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;7568 | &nbsp;&nbsp;&nbsp;&nbsp;455972 |
| PTC Therapeutics, Inc. (A) | 14495 | &nbsp;&nbsp;&nbsp;&nbsp;553274 |
| Radius Health, Inc. (A)(C) | &nbsp;&nbsp;9985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 |
| Rallybio Corp. (A) | &nbsp;&nbsp;3909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25682 |
| RAPT Therapeutics, Inc. (A) | &nbsp;&nbsp;5546 | &nbsp;&nbsp;&nbsp;&nbsp;109811 |
| Recursion Pharmaceuticals, Inc., Class A (A) | 28706 | &nbsp;&nbsp;&nbsp;&nbsp;221323 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;8368 | &nbsp;&nbsp;&nbsp;&nbsp;189786 |
| Relay Therapeutics, Inc. (A) | 17720 | &nbsp;&nbsp;&nbsp;&nbsp;264737 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;8390 | &nbsp;&nbsp;&nbsp;&nbsp;228208 |
| REVOLUTION Medicines, Inc. (A) | 15621 | &nbsp;&nbsp;&nbsp;&nbsp;372092 |
| Rigel Pharmaceuticals, Inc. (A) | 39861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59792 |
| Rocket Pharmaceuticals, Inc. (A) | 11148 | &nbsp;&nbsp;&nbsp;&nbsp;218166 |
| Sage Therapeutics, Inc. (A) | 10798 | &nbsp;&nbsp;&nbsp;&nbsp;411836 |
| Sana Biotechnology, Inc. (A)(B) | 19243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76010 |
| Sangamo Therapeutics, Inc. (A) | 28120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88297 |
| Seres Therapeutics, Inc. (A) | 15017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84095 |
| Sorrento Therapeutics, Inc. (A) | 79332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70288 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;7528 | &nbsp;&nbsp;&nbsp;&nbsp;195803 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;5016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46298 |
| Sutro Biopharma, Inc. (A) | 11370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91870 |
| Syndax Pharmaceuticals, Inc. (A) | 11015 | &nbsp;&nbsp;&nbsp;&nbsp;280332 |
| Synergy Pharmaceuticals, Inc. (A)(C) | 80513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 |
| Tango Therapeutics, Inc. (A) | &nbsp;&nbsp;9992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72442 |
| TG Therapeutics, Inc. (A) | 27730 | &nbsp;&nbsp;&nbsp;&nbsp;328046 |
| Travere Therapeutics, Inc. (A) | 12676 | &nbsp;&nbsp;&nbsp;&nbsp;266576 |
| Twist Bioscience Corp. (A) | 11761 | &nbsp;&nbsp;&nbsp;&nbsp;280029 |
| Tyra Biosciences, Inc. (A) | &nbsp;&nbsp;2939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22336 |
| Vanda Pharmaceuticals, Inc. (A) | 11596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85694 |
| Vaxart, Inc. (A) | 26416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25383 |
| Vaxcyte, Inc. (A) | 14800 | &nbsp;&nbsp;&nbsp;&nbsp;709660 |
| Vera Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;3093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59850 |
| Veracyte, Inc. (A) | 14913 | &nbsp;&nbsp;&nbsp;&nbsp;353885 |
| Vericel Corp. (A) | &nbsp;&nbsp;9814 | &nbsp;&nbsp;&nbsp;&nbsp;258501 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;9712 | &nbsp;&nbsp;&nbsp;&nbsp;187927 |
| Vir Biotechnology, Inc. (A) | 14964 | &nbsp;&nbsp;&nbsp;&nbsp;378739 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;7799 | &nbsp;&nbsp;&nbsp;&nbsp;227809 |
| Xencor, Inc. (A) | 11847 | &nbsp;&nbsp;&nbsp;&nbsp;308496 |
| Y-mAbs Therapeutics, Inc. (A) | &nbsp;&nbsp;7922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38659 |
| Zentalis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;9820 | &nbsp;&nbsp;&nbsp;&nbsp;197775 |
|  |  | 34912363 |
| **Health care equipment and supplies – 3.7%** | **Health care equipment and supplies – 3.7%** |  |
| Abiomed, Inc. (A) | 23504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48653 |
| Alphatec Holdings, Inc. (A) | 14965 | &nbsp;&nbsp;&nbsp;&nbsp;184818 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;7771 | &nbsp;&nbsp;&nbsp;&nbsp;107007 |
| Artivion, Inc. (A) | &nbsp;&nbsp;8194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99311 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;9435 | &nbsp;&nbsp;&nbsp;&nbsp;418725 |
| Atrion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;150492 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;9628 | &nbsp;&nbsp;&nbsp;&nbsp;260534 |
| Axogen, Inc. (A) | &nbsp;&nbsp;8790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87724 |
| Axonics, Inc. (A) | 10098 | &nbsp;&nbsp;&nbsp;&nbsp;631428 |
| Butterfly Network, Inc. (A)(B) | 28987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71308 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Cardiovascular Systems, Inc. (A) | &nbsp;&nbsp;8558 | $&nbsp;&nbsp;&nbsp;&nbsp;116560 |
| Cerus Corp. (A) | 36297 | &nbsp;&nbsp;&nbsp;&nbsp;132484 |
| CONMED Corp. | &nbsp;&nbsp;6017 | &nbsp;&nbsp;&nbsp;&nbsp;533347 |
| Cutera, Inc. (A) | &nbsp;&nbsp;3474 | &nbsp;&nbsp;&nbsp;&nbsp;153620 |
| Embecta Corp. | 12024 | &nbsp;&nbsp;&nbsp;&nbsp;304087 |
| Figs, Inc., Class A (A) | 26562 | &nbsp;&nbsp;&nbsp;&nbsp;178762 |
| Glaukos Corp. (A) | &nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp;412339 |
| Haemonetics Corp. (A) | 10443 | &nbsp;&nbsp;&nbsp;&nbsp;821342 |
| Heska Corp. (A) | &nbsp;&nbsp;2025 | &nbsp;&nbsp;&nbsp;&nbsp;125874 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;9990 | &nbsp;&nbsp;&nbsp;&nbsp;634964 |
| Inogen, Inc. (A) | &nbsp;&nbsp;4919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96953 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;5828 | &nbsp;&nbsp;&nbsp;1467957 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;6783 | &nbsp;&nbsp;&nbsp;&nbsp;464364 |
| iRadimed Corp. | &nbsp;&nbsp;1594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45094 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;6234 | &nbsp;&nbsp;&nbsp;&nbsp;583939 |
| Lantheus Holdings, Inc. (A) | 14115 | &nbsp;&nbsp;&nbsp;&nbsp;719300 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;3997 | &nbsp;&nbsp;&nbsp;&nbsp;183942 |
| LivaNova PLC (A) | 11124 | &nbsp;&nbsp;&nbsp;&nbsp;617827 |
| Meridian Bioscience, Inc. (A) | &nbsp;&nbsp;8774 | &nbsp;&nbsp;&nbsp;&nbsp;291385 |
| Merit Medical Systems, Inc. (A) | 11513 | &nbsp;&nbsp;&nbsp;&nbsp;813048 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;175518 |
| Nano-X Imaging, Ltd. (A) | &nbsp;&nbsp;9864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72796 |
| Neogen Corp. (A) | 44981 | &nbsp;&nbsp;&nbsp;&nbsp;685061 |
| Nevro Corp. (A) | &nbsp;&nbsp;7234 | &nbsp;&nbsp;&nbsp;&nbsp;286466 |
| NuVasive, Inc. (A) | 10842 | &nbsp;&nbsp;&nbsp;&nbsp;447124 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;9221 | &nbsp;&nbsp;&nbsp;&nbsp;464923 |
| OraSure Technologies, Inc. (A) | 15509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74753 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;4096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84091 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;124275 |
| Outset Medical, Inc. (A) | 10144 | &nbsp;&nbsp;&nbsp;&nbsp;261918 |
| Paragon 28, Inc. (A) | &nbsp;&nbsp;9652 | &nbsp;&nbsp;&nbsp;&nbsp;184450 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;5333 | &nbsp;&nbsp;&nbsp;&nbsp;221533 |
| Pulmonx Corp. (A) | &nbsp;&nbsp;7395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62340 |
| RxSight, Inc. (A) | &nbsp;&nbsp;4606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58358 |
| SeaSpine Holdings Corp. (A) | &nbsp;&nbsp;8024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67000 |
| Senseonics Holdings, Inc. (A) | 93468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96272 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;7355 | &nbsp;&nbsp;&nbsp;1512262 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;7066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96098 |
| Sight Sciences, Inc. (A) | &nbsp;&nbsp;4808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58706 |
| Silk Road Medical, Inc. (A) | &nbsp;&nbsp;7749 | &nbsp;&nbsp;&nbsp;&nbsp;409535 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;9919 | &nbsp;&nbsp;&nbsp;&nbsp;481468 |
| Surmodics, Inc. (A) | &nbsp;&nbsp;2907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99187 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47527 |
| TransMedics Group, Inc. (A) | &nbsp;&nbsp;6285 | &nbsp;&nbsp;&nbsp;&nbsp;387910 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;6932 | &nbsp;&nbsp;&nbsp;&nbsp;159367 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;167286 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74392 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;7959 | &nbsp;&nbsp;&nbsp;&nbsp;161568 |
| Vicarious Surgical, Inc. (A) | 12582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25416 |
| ViewRay, Inc. (A) | 31688 | &nbsp;&nbsp;&nbsp;&nbsp;141962 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;4503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42058 |
| Zynex, Inc. (B) | &nbsp;&nbsp;4597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63944 |
|  |  | 18052752 |
| **Health care providers and services – 2.6%** | **Health care providers and services – 2.6%** |  |
| 1Life Healthcare, Inc. (A) | 37464 | &nbsp;&nbsp;&nbsp;&nbsp;626023 |
| 23andMe Holding Company, Class A (A) | 54691 | &nbsp;&nbsp;&nbsp;&nbsp;118133 |
| Accolade, Inc. (A) | 13926 | &nbsp;&nbsp;&nbsp;&nbsp;108484 |
| AdaptHealth Corp. (A) | 14900 | &nbsp;&nbsp;&nbsp;&nbsp;286378 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;3168 | &nbsp;&nbsp;&nbsp;&nbsp;315184 |
| Agiliti, Inc. (A) | &nbsp;&nbsp;5807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94712 |
| Alignment Healthcare, Inc. (A) | 20466 | &nbsp;&nbsp;&nbsp;&nbsp;240680 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;8933 | &nbsp;&nbsp;&nbsp;&nbsp;918491 |
| Apollo Medical Holdings, Inc. (A) | &nbsp;&nbsp;8085 | &nbsp;&nbsp;&nbsp;&nbsp;239235 |
| Brookdale Senior Living, Inc. (A) | 39110 | &nbsp;&nbsp;&nbsp;&nbsp;106770 |
| Cano Health, Inc. (A) | 34907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47823 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| CareMax, Inc. (A)(B) | 13154 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48012 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;5128 | &nbsp;&nbsp;&nbsp;&nbsp;120713 |
| Clover Health Investments Corp. (A)(B) | 80941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75235 |
| Community Health Systems, Inc. (A) | 26278 | &nbsp;&nbsp;&nbsp;&nbsp;113521 |
| CorVel Corp. (A) | &nbsp;&nbsp;1833 | &nbsp;&nbsp;&nbsp;&nbsp;266390 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;7378 | &nbsp;&nbsp;&nbsp;&nbsp;196033 |
| DocGo, Inc. (A) | 17094 | &nbsp;&nbsp;&nbsp;&nbsp;120855 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;4422 | &nbsp;&nbsp;&nbsp;&nbsp;131687 |
| HealthEquity, Inc. (A) | 17128 | &nbsp;&nbsp;&nbsp;1055770 |
| Hims & Hers Health, Inc. (A) | 25168 | &nbsp;&nbsp;&nbsp;&nbsp;161327 |
| Innovage Holding Corp. (A) | &nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29460 |
| Invitae Corp. (A)(B) | 51793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96335 |
| LHC Group, Inc. (A) | &nbsp;&nbsp;6127 | &nbsp;&nbsp;&nbsp;&nbsp;990675 |
| LifeStance Health Group, Inc. (A) | 15514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76639 |
| ModivCare, Inc. (A) | &nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;235362 |
| National HealthCare Corp. | &nbsp;&nbsp;2486 | &nbsp;&nbsp;&nbsp;&nbsp;147917 |
| National Research Corp. | &nbsp;&nbsp;3005 | &nbsp;&nbsp;&nbsp;&nbsp;112087 |
| OPKO Health, Inc. (A) | 85924 | &nbsp;&nbsp;&nbsp;&nbsp;107405 |
| Option Care Health, Inc. (A) | 32291 | &nbsp;&nbsp;&nbsp;&nbsp;971636 |
| Owens & Minor, Inc. (A) | 15337 | &nbsp;&nbsp;&nbsp;&nbsp;299532 |
| Patterson Companies, Inc. | 17925 | &nbsp;&nbsp;&nbsp;&nbsp;502438 |
| Pediatrix Medical Group, Inc. (A) | 17357 | &nbsp;&nbsp;&nbsp;&nbsp;257925 |
| PetIQ, Inc. (A) | &nbsp;&nbsp;5898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54380 |
| Privia Health Group, Inc. (A) | &nbsp;&nbsp;9493 | &nbsp;&nbsp;&nbsp;&nbsp;215586 |
| Progyny, Inc. (A) | 15647 | &nbsp;&nbsp;&nbsp;&nbsp;487404 |
| R1 RCM, Inc. (A) | 31301 | &nbsp;&nbsp;&nbsp;&nbsp;342746 |
| RadNet, Inc. (A) | 10326 | &nbsp;&nbsp;&nbsp;&nbsp;194439 |
| Select Medical Holdings Corp. | 21860 | &nbsp;&nbsp;&nbsp;&nbsp;542784 |
| Surgery Partners, Inc. (A) | 10404 | &nbsp;&nbsp;&nbsp;&nbsp;289855 |
| The Ensign Group, Inc. | 11099 | &nbsp;&nbsp;&nbsp;1050076 |
| The Joint Corp. (A) | &nbsp;&nbsp;3219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45002 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;5650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62037 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;2639 | &nbsp;&nbsp;&nbsp;&nbsp;213838 |
|  |  | 12717014 |
| **Health care technology – 0.5%** | **Health care technology – 0.5%** |  |
| Allscripts Healthcare Solutions, Inc. (A) | 22576 | &nbsp;&nbsp;&nbsp;&nbsp;398241 |
| American Well Corp., Class A (A) | 47969 | &nbsp;&nbsp;&nbsp;&nbsp;135752 |
| Computer Programs and Systems, Inc. (A) | &nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83702 |
| Evolent Health, Inc., Class A (A) | 16934 | &nbsp;&nbsp;&nbsp;&nbsp;475507 |
| Health Catalyst, Inc. (A) | 11833 | &nbsp;&nbsp;&nbsp;&nbsp;125785 |
| HealthStream, Inc. (A) | &nbsp;&nbsp;5090 | &nbsp;&nbsp;&nbsp;&nbsp;126436 |
| MultiPlan Corp. (A) | 79262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91151 |
| NextGen Healthcare, Inc. (A) | 11596 | &nbsp;&nbsp;&nbsp;&nbsp;217773 |
| Nutex Health, Inc. (A) | 52370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99503 |
| OptimizeRx Corp. (A) | &nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61118 |
| Pear Therapeutics, Inc. (A) | 14728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17379 |
| Phreesia, Inc. (A) | 10293 | &nbsp;&nbsp;&nbsp;&nbsp;333081 |
| Schrodinger, Inc. (A) | 11250 | &nbsp;&nbsp;&nbsp;&nbsp;210263 |
| Sharecare, Inc. (A) | 62593 | &nbsp;&nbsp;&nbsp;&nbsp;100149 |
| Simulations Plus, Inc. | &nbsp;&nbsp;3243 | &nbsp;&nbsp;&nbsp;&nbsp;118597 |
|  |  | &nbsp;&nbsp;&nbsp;2594437 |
| **Life sciences tools and services – 0.7%** | **Life sciences tools and services – 0.7%** |  |
| AbCellera Biologics, Inc. (A) | 42911 | &nbsp;&nbsp;&nbsp;&nbsp;434688 |
| Adaptive Biotechnologies Corp. (A) | 23441 | &nbsp;&nbsp;&nbsp;&nbsp;179089 |
| Akoya Biosciences, Inc. (A) | &nbsp;&nbsp;3203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30653 |
| Berkeley Lights, Inc. (A) | 13208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35397 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;7170 | &nbsp;&nbsp;&nbsp;&nbsp;130494 |
| Bionano Genomics, Inc. (A)(B) | 63711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93018 |
| Codexis, Inc. (A) | 13326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62099 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;9279 | &nbsp;&nbsp;&nbsp;&nbsp;160991 |
| Cytek Biosciences, Inc. (A) | 23709 | &nbsp;&nbsp;&nbsp;&nbsp;242069 |
| MaxCyte, Inc. (A) | 19002 | &nbsp;&nbsp;&nbsp;&nbsp;103751 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;5244 | &nbsp;&nbsp;&nbsp;1113878 |
| NanoString Technologies, Inc. (A) | &nbsp;&nbsp;9924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79094 |
| NeoGenomics, Inc. (A) | 26439 | &nbsp;&nbsp;&nbsp;&nbsp;244296 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| OmniAb, Inc. (A) | 16440 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59184 |
| OmniAb, Inc., Earnout Shares (A)(C) | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc., Earnout Shares (A)(C) | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Pacific Biosciences of California, Inc. (A) | 46989 | &nbsp;&nbsp;&nbsp;&nbsp;384370 |
| Quanterix Corp. (A) | &nbsp;&nbsp;7230 | &nbsp;&nbsp;&nbsp;&nbsp;100136 |
| Quantum-Si, Inc. (A) | 20178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36926 |
| Seer, Inc. (A) | 11315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65627 |
| Singular Genomics Systems, Inc. (A)(B) | 13621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27378 |
| SomaLogic, Inc. (A) | 32452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81455 |
|  |  | &nbsp;&nbsp;&nbsp;3664593 |
| **Pharmaceuticals – 1.6%** | **Pharmaceuticals – 1.6%** |  |
| Aclaris Therapeutics, Inc. (A) | 13313 | &nbsp;&nbsp;&nbsp;&nbsp;209680 |
| Amneal Pharmaceuticals, Inc. (A) | 22334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44445 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;7872 | &nbsp;&nbsp;&nbsp;&nbsp;220573 |
| Amylyx Pharmaceuticals, Inc. (A) | 10439 | &nbsp;&nbsp;&nbsp;&nbsp;385721 |
| AN2 Therapeutics, Inc. (A) | &nbsp;&nbsp;2354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22434 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2736 | &nbsp;&nbsp;&nbsp;&nbsp;110069 |
| Arvinas, Inc. (A) | 10093 | &nbsp;&nbsp;&nbsp;&nbsp;345282 |
| Atea Pharmaceuticals, Inc. (A) | 16064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77268 |
| Athira Pharma, Inc. (A) | &nbsp;&nbsp;7965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25249 |
| Axsome Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;6616 | &nbsp;&nbsp;&nbsp;&nbsp;510292 |
| Cara Therapeutics, Inc. (A) | &nbsp;&nbsp;9315 | &nbsp;&nbsp;&nbsp;&nbsp;100043 |
| Cassava Sciences, Inc. (A)(B) | &nbsp;&nbsp;7907 | &nbsp;&nbsp;&nbsp;&nbsp;233573 |
| CinCor Pharma, Inc. (A) | &nbsp;&nbsp;5189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63773 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;7044 | &nbsp;&nbsp;&nbsp;&nbsp;163421 |
| Corcept Therapeutics, Inc. (A) | 17773 | &nbsp;&nbsp;&nbsp;&nbsp;360970 |
| DICE Therapeutics, Inc. (A) | &nbsp;&nbsp;7288 | &nbsp;&nbsp;&nbsp;&nbsp;227386 |
| Edgewise Therapeutics, Inc. (A) | &nbsp;&nbsp;7967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71225 |
| Esperion Therapeutics, Inc. (A) | 15361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95699 |
| Evolus, Inc. (A) | &nbsp;&nbsp;7505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56363 |
| Fulcrum Therapeutics, Inc. (A) | &nbsp;&nbsp;9084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66132 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;297540 |
| Innoviva, Inc. (A) | 12808 | &nbsp;&nbsp;&nbsp;&nbsp;169706 |
| Intra-Cellular Therapies, Inc. (A) | 18933 | &nbsp;&nbsp;&nbsp;1001934 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3133 | &nbsp;&nbsp;&nbsp;&nbsp;209284 |
| Liquidia Corp. (A)(B) | &nbsp;&nbsp;9928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63241 |
| Nektar Therapeutics (A) | 39031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88210 |
| NGM Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;8854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44447 |
| Nuvation Bio, Inc. (A)(B) | 27418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52643 |
| Ocular Therapeutix, Inc. (A) | 17147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48183 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;9253 | &nbsp;&nbsp;&nbsp;&nbsp;357258 |
| Phathom Pharmaceuticals, Inc. (A)(B) | &nbsp;&nbsp;5424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60857 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;4407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59098 |
| Prestige Consumer Healthcare, Inc. (A) | 10227 | &nbsp;&nbsp;&nbsp;&nbsp;640210 |
| Provention Bio, Inc. (A)(B) | 13229 | &nbsp;&nbsp;&nbsp;&nbsp;139831 |
| Reata Pharmaceuticals, Inc., Class A (A)(B) | &nbsp;&nbsp;5772 | &nbsp;&nbsp;&nbsp;&nbsp;219278 |
| Revance Therapeutics, Inc. (A) | 16639 | &nbsp;&nbsp;&nbsp;&nbsp;307156 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;9754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71789 |
| Supernus Pharmaceuticals, Inc. (A) | 10151 | &nbsp;&nbsp;&nbsp;&nbsp;362086 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58860 |
| Theravance Biopharma, Inc. (A) | 13744 | &nbsp;&nbsp;&nbsp;&nbsp;154208 |
| Ventyx Biosciences, Inc. (A) | &nbsp;&nbsp;5105 | &nbsp;&nbsp;&nbsp;&nbsp;167393 |
| Xeris Biopharma Holdings, Inc. (A) | 29713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39518 |
| Zogenix, Inc. (A)(C) | 12884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25768 |
|  |  | &nbsp;&nbsp;&nbsp;8028096 |
|  |  | 79969255 |
| **Industrials – 15.0%** |  |  |
| **Aerospace and defense – 1.0%** | **Aerospace and defense – 1.0%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;6983 | &nbsp;&nbsp;&nbsp;&nbsp;313537 |
| Aerojet Rocketdyne Holdings, Inc. (A) | 16332 | &nbsp;&nbsp;&nbsp;&nbsp;913449 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;5089 | &nbsp;&nbsp;&nbsp;&nbsp;435924 |
| AerSale Corp. (A) | &nbsp;&nbsp;4237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68724 |
| Archer Aviation, Inc., Class A (A) | 32592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60947 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| Astronics Corp. (A) | &nbsp;&nbsp;5900 | $&nbsp;&nbsp;&nbsp;&nbsp;60770 |
| Cadre Holdings, Inc. | &nbsp;&nbsp;3748 | &nbsp;&nbsp;&nbsp;&nbsp;75485 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;118155 |
| Kaman Corp. | &nbsp;&nbsp;5863 | &nbsp;&nbsp;&nbsp;&nbsp;130745 |
| Kratos Defense & Security Solutions, Inc. (A) | 25839 | &nbsp;&nbsp;&nbsp;&nbsp;266658 |
| Maxar Technologies, Inc. | 15244 | &nbsp;&nbsp;&nbsp;&nbsp;788725 |
| Moog, Inc., Class A | &nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp;513220 |
| National Presto Industries, Inc. | &nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;78661 |
| Park Aerospace Corp. | &nbsp;&nbsp;4206 | &nbsp;&nbsp;&nbsp;&nbsp;56402 |
| Parsons Corp. (A) | &nbsp;&nbsp;6872 | &nbsp;&nbsp;&nbsp;&nbsp;317830 |
| Rocket Lab USA, Inc. (A) | 45899 | &nbsp;&nbsp;&nbsp;&nbsp;173039 |
| Triumph Group, Inc. (A) | 13423 | &nbsp;&nbsp;&nbsp;&nbsp;141210 |
| V2X, Inc. (A) | &nbsp;&nbsp;2468 | &nbsp;&nbsp;&nbsp;&nbsp;101904 |
| Virgin Galactic Holdings, Inc. (A)(B) | 50637 | &nbsp;&nbsp;&nbsp;&nbsp;176217 |
|  |  | 4791602 |
| **Air freight and logistics – 0.4%** | **Air freight and logistics – 0.4%** |  |
| Air Transport Services Group, Inc. (A) | 12057 | &nbsp;&nbsp;&nbsp;&nbsp;313241 |
| Atlas Air Worldwide Holdings, Inc. (A) | &nbsp;&nbsp;5745 | &nbsp;&nbsp;&nbsp;&nbsp;579096 |
| Forward Air Corp. | &nbsp;&nbsp;5495 | &nbsp;&nbsp;&nbsp;&nbsp;576371 |
| Hub Group, Inc., Class A (A) | &nbsp;&nbsp;6838 | &nbsp;&nbsp;&nbsp;&nbsp;543553 |
| Radiant Logistics, Inc. (A) | &nbsp;&nbsp;7969 | &nbsp;&nbsp;&nbsp;&nbsp;40562 |
|  |  | 2052823 |
| **Airlines – 0.3%** | **Airlines – 0.3%** |  |
| Allegiant Travel Company (A) | &nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;220288 |
| Blade Air Mobility, Inc. (A) | 12274 | &nbsp;&nbsp;&nbsp;&nbsp;43941 |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;7737 | &nbsp;&nbsp;&nbsp;&nbsp;79459 |
| Hawaiian Holdings, Inc. (A) | 10792 | &nbsp;&nbsp;&nbsp;&nbsp;110726 |
| Joby Aviation, Inc. (A)(B) | 54458 | &nbsp;&nbsp;&nbsp;&nbsp;182434 |
| SkyWest, Inc. (A) | 10376 | &nbsp;&nbsp;&nbsp;&nbsp;171308 |
| Spirit Airlines, Inc. | 22425 | &nbsp;&nbsp;&nbsp;&nbsp;436839 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;6939 | &nbsp;&nbsp;&nbsp;&nbsp;110053 |
| Wheels Up Experience, Inc. (A) | 35771 | &nbsp;&nbsp;&nbsp;&nbsp;36844 |
|  |  | 1391892 |
| **Building products – 1.2%** | **Building products – 1.2%** |  |
| AAON, Inc. | &nbsp;&nbsp;9044 | &nbsp;&nbsp;&nbsp;&nbsp;681194 |
| American Woodmark Corp. (A) | &nbsp;&nbsp;3486 | &nbsp;&nbsp;&nbsp;&nbsp;170326 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;4657 | &nbsp;&nbsp;&nbsp;&nbsp;207050 |
| Caesarstone, Ltd. | &nbsp;&nbsp;5705 | &nbsp;&nbsp;&nbsp;&nbsp;32576 |
| CSW Industrials, Inc. | &nbsp;&nbsp;3018 | &nbsp;&nbsp;&nbsp;&nbsp;349877 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;6731 | &nbsp;&nbsp;&nbsp;&nbsp;308818 |
| Griffon Corp. | &nbsp;&nbsp;9424 | &nbsp;&nbsp;&nbsp;&nbsp;337285 |
| Insteel Industries, Inc. | &nbsp;&nbsp;3926 | &nbsp;&nbsp;&nbsp;&nbsp;108044 |
| Janus International Group, Inc. (A) | 17323 | &nbsp;&nbsp;&nbsp;&nbsp;164915 |
| JELD-WEN Holding, Inc. (A) | 17925 | &nbsp;&nbsp;&nbsp;&nbsp;172976 |
| Masonite International Corp. (A) | &nbsp;&nbsp;4651 | &nbsp;&nbsp;&nbsp;&nbsp;374917 |
| PGT Innovations, Inc. (A) | 12022 | &nbsp;&nbsp;&nbsp;&nbsp;215915 |
| Quanex Building Products Corp. | &nbsp;&nbsp;6999 | &nbsp;&nbsp;&nbsp;&nbsp;165736 |
| Resideo Technologies, Inc. (A) | 30058 | &nbsp;&nbsp;&nbsp;&nbsp;494454 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;8834 | &nbsp;&nbsp;&nbsp;&nbsp;783222 |
| UFP Industries, Inc. | 12336 | &nbsp;&nbsp;&nbsp;&nbsp;977628 |
| View, Inc. (A) | 26426 | &nbsp;&nbsp;&nbsp;&nbsp;25498 |
| Zurn Elkay Water Solutions Corp. | 25666 | &nbsp;&nbsp;&nbsp;&nbsp;542836 |
|  |  | 6113267 |
| **Commercial services and supplies – 1.4%** | **Commercial services and supplies – 1.4%** |  |
| ABM Industries, Inc. | 13699 | &nbsp;&nbsp;&nbsp;&nbsp;608510 |
| ACCO Brands Corp. | 19772 | &nbsp;&nbsp;&nbsp;&nbsp;110525 |
| ACV Auctions, Inc., Class A (A) | 24455 | &nbsp;&nbsp;&nbsp;&nbsp;200776 |
| Aris Water Solution, Inc., Class A | &nbsp;&nbsp;4695 | &nbsp;&nbsp;&nbsp;&nbsp;67655 |
| Brady Corp., Class A | &nbsp;&nbsp;9446 | &nbsp;&nbsp;&nbsp;&nbsp;444907 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;9255 | &nbsp;&nbsp;&nbsp;&nbsp;63767 |
| Casella Waste Systems, Inc., Class A (A) | 10271 | &nbsp;&nbsp;&nbsp;&nbsp;814593 |
| Cimpress PLC (A) | &nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;&nbsp;103703 |
| CoreCivic, Inc. (A) | 24149 | &nbsp;&nbsp;&nbsp;&nbsp;279162 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 113 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| Deluxe Corp. | &nbsp;&nbsp;9002 | $&nbsp;&nbsp;&nbsp;&nbsp;152854 |
| Ennis, Inc. | &nbsp;&nbsp;5655 | &nbsp;&nbsp;&nbsp;&nbsp;125315 |
| Harsco Corp. (A) | 16716 | &nbsp;&nbsp;&nbsp;&nbsp;105144 |
| Healthcare Services Group, Inc. | 15465 | &nbsp;&nbsp;&nbsp;&nbsp;185580 |
| Heritage-Crystal Clean, Inc. (A) | &nbsp;&nbsp;3422 | &nbsp;&nbsp;&nbsp;&nbsp;111147 |
| HNI Corp. | &nbsp;&nbsp;8706 | &nbsp;&nbsp;&nbsp;&nbsp;247512 |
| Interface, Inc. | 12610 | &nbsp;&nbsp;&nbsp;&nbsp;124461 |
| KAR Auction Services, Inc. (A) | 22739 | &nbsp;&nbsp;&nbsp;&nbsp;296744 |
| Kimball International, Inc., Class B | &nbsp;&nbsp;9692 | &nbsp;&nbsp;&nbsp;&nbsp;62998 |
| Li-Cycle Holdings Corp. (A)(B) | 28609 | &nbsp;&nbsp;&nbsp;&nbsp;136179 |
| Matthews International Corp., Class A | &nbsp;&nbsp;6376 | &nbsp;&nbsp;&nbsp;&nbsp;194085 |
| MillerKnoll, Inc. | 15795 | &nbsp;&nbsp;&nbsp;&nbsp;331853 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp;256663 |
| Pitney Bowes, Inc. | 36654 | &nbsp;&nbsp;&nbsp;&nbsp;139285 |
| SP Plus Corp. (A) | &nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;147560 |
| Steelcase, Inc., Class A | 18266 | &nbsp;&nbsp;&nbsp;&nbsp;129141 |
| The Brink's Company | &nbsp;&nbsp;9479 | &nbsp;&nbsp;&nbsp;&nbsp;509117 |
| The GEO Group, Inc. (A) | 24328 | &nbsp;&nbsp;&nbsp;&nbsp;266392 |
| UniFirst Corp. | &nbsp;&nbsp;3063 | &nbsp;&nbsp;&nbsp;&nbsp;591128 |
| Viad Corp. (A) | &nbsp;&nbsp;4252 | &nbsp;&nbsp;&nbsp;&nbsp;103706 |
| VSE Corp. | &nbsp;&nbsp;2291 | &nbsp;&nbsp;&nbsp;&nbsp;107402 |
|  |  | 7017864 |
| **Construction and engineering – 1.6%** | **Construction and engineering – 1.6%** |  |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;6554 | &nbsp;&nbsp;&nbsp;&nbsp;374496 |
| API Group Corp. (A) | 42745 | &nbsp;&nbsp;&nbsp;&nbsp;804033 |
| Arcosa, Inc. | &nbsp;&nbsp;9882 | &nbsp;&nbsp;&nbsp;&nbsp;536988 |
| Argan, Inc. | &nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;104260 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;7229 | &nbsp;&nbsp;&nbsp;&nbsp;831913 |
| Concrete Pumping Holdings, Inc. (A) | &nbsp;&nbsp;4952 | &nbsp;&nbsp;&nbsp;&nbsp;28969 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;8466 | &nbsp;&nbsp;&nbsp;&nbsp;225958 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;5945 | &nbsp;&nbsp;&nbsp;&nbsp;556452 |
| EMCOR Group, Inc. | &nbsp;&nbsp;9843 | 1457847 |
| Fluor Corp. (A) | 29371 | 1017999 |
| Granite Construction, Inc. | &nbsp;&nbsp;9368 | &nbsp;&nbsp;&nbsp;&nbsp;328536 |
| Great Lakes Dredge & Dock Corp. (A) | 13589 | &nbsp;&nbsp;&nbsp;&nbsp;80855 |
| IES Holdings, Inc. (A) | &nbsp;&nbsp;2028 | &nbsp;&nbsp;&nbsp;&nbsp;72136 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;3377 | &nbsp;&nbsp;&nbsp;&nbsp;310920 |
| Northwest Pipe Company (A) | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;70399 |
| NV5 Global, Inc. (A) | &nbsp;&nbsp;2792 | &nbsp;&nbsp;&nbsp;&nbsp;369437 |
| Primoris Services Corp. | 11014 | &nbsp;&nbsp;&nbsp;&nbsp;241647 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;6062 | &nbsp;&nbsp;&nbsp;&nbsp;198834 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;9240 | &nbsp;&nbsp;&nbsp;&nbsp;69762 |
|  |  | 7681441 |
| **Electrical equipment – 1.4%** | **Electrical equipment – 1.4%** |  |
| Allied Motion Technologies, Inc. | &nbsp;&nbsp;2952 | &nbsp;&nbsp;&nbsp;&nbsp;102759 |
| Array Technologies, Inc. (A) | 31286 | &nbsp;&nbsp;&nbsp;&nbsp;604758 |
| Atkore, Inc. (A) | &nbsp;&nbsp;8494 | &nbsp;&nbsp;&nbsp;&nbsp;963389 |
| AZZ, Inc. | &nbsp;&nbsp;5010 | &nbsp;&nbsp;&nbsp;&nbsp;201402 |
| Babcock & Wilcox Enterprises, Inc. (A) | 13485 | &nbsp;&nbsp;&nbsp;&nbsp;77808 |
| Blink Charging Company (A)(B) | &nbsp;&nbsp;7631 | &nbsp;&nbsp;&nbsp;&nbsp;83712 |
| Bloom Energy Corp., Class A (A) | 37218 | &nbsp;&nbsp;&nbsp;&nbsp;711608 |
| Encore Wire Corp. | &nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;&nbsp;510898 |
| Energy Vault Holdings, Inc. (A)(B) | 17093 | &nbsp;&nbsp;&nbsp;&nbsp;53330 |
| EnerSys | &nbsp;&nbsp;8406 | &nbsp;&nbsp;&nbsp;&nbsp;620699 |
| Enovix Corp. (A)(B) | 22775 | &nbsp;&nbsp;&nbsp;&nbsp;283321 |
| ESS Tech, Inc. (A)(B) | 18336 | &nbsp;&nbsp;&nbsp;&nbsp;44556 |
| Fluence Energy, Inc. (A)(B) | &nbsp;&nbsp;7646 | &nbsp;&nbsp;&nbsp;&nbsp;131129 |
| FTC Solar, Inc. (A)(B) | &nbsp;&nbsp;9771 | &nbsp;&nbsp;&nbsp;&nbsp;26186 |
| FuelCell Energy, Inc. (A)(B) | 84839 | &nbsp;&nbsp;&nbsp;&nbsp;235852 |
| GrafTech International, Ltd. | 40495 | &nbsp;&nbsp;&nbsp;&nbsp;192756 |
| NuScale Power Corp. (A) | &nbsp;&nbsp;6312 | &nbsp;&nbsp;&nbsp;&nbsp;64761 |
| Powell Industries, Inc. | &nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;72260 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;37564 |
| Shoals Technologies Group, Inc., Class A (A) | 28548 | &nbsp;&nbsp;&nbsp;&nbsp;704279 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| Stem, Inc. (A) | 29907 | $&nbsp;&nbsp;&nbsp;&nbsp;267369 |
| SunPower Corp. (A) | 16985 | &nbsp;&nbsp;&nbsp;&nbsp;306240 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;7113 | &nbsp;&nbsp;&nbsp;&nbsp;142829 |
| TPI Composites, Inc. (A) | &nbsp;&nbsp;8008 | &nbsp;&nbsp;&nbsp;&nbsp;81201 |
| Vicor Corp. (A) | &nbsp;&nbsp;4589 | &nbsp;&nbsp;&nbsp;&nbsp;246659 |
|  |  | 6767325 |
| **Industrial conglomerates – 0.0%** | **Industrial conglomerates – 0.0%** |  |
| Brookfield Business Corp., Class A | &nbsp;&nbsp;5506 | &nbsp;&nbsp;&nbsp;&nbsp;103458 |
| **Machinery – 3.7%** | **Machinery – 3.7%** |  |
| 3D Systems Corp. (A) | 26299 | &nbsp;&nbsp;&nbsp;&nbsp;194613 |
| Alamo Group, Inc. | &nbsp;&nbsp;2035 | &nbsp;&nbsp;&nbsp;&nbsp;288156 |
| Albany International Corp., Class A | &nbsp;&nbsp;6426 | &nbsp;&nbsp;&nbsp;&nbsp;633539 |
| Altra Industrial Motion Corp. | 13434 | &nbsp;&nbsp;&nbsp;&nbsp;802682 |
| Astec Industries, Inc. | &nbsp;&nbsp;4763 | &nbsp;&nbsp;&nbsp;&nbsp;193664 |
| Barnes Group, Inc. | 10139 | &nbsp;&nbsp;&nbsp;&nbsp;414178 |
| Blue Bird Corp. (A) | &nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp;38984 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;8823 | 1016674 |
| CIRCOR International, Inc. (A) | &nbsp;&nbsp;4021 | &nbsp;&nbsp;&nbsp;&nbsp;96343 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;5886 | &nbsp;&nbsp;&nbsp;&nbsp;191118 |
| Desktop Metal, Inc., Class A (A)(B) | 59480 | &nbsp;&nbsp;&nbsp;&nbsp;80893 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;4699 | &nbsp;&nbsp;&nbsp;&nbsp;169916 |
| Energy Recovery, Inc. (A) | 11645 | &nbsp;&nbsp;&nbsp;&nbsp;238606 |
| Enerpac Tool Group Corp. | 12133 | &nbsp;&nbsp;&nbsp;&nbsp;308785 |
| EnPro Industries, Inc. | &nbsp;&nbsp;4260 | &nbsp;&nbsp;&nbsp;&nbsp;463019 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;5277 | &nbsp;&nbsp;&nbsp;&nbsp;461949 |
| Evoqua Water Technologies Corp. (A) | 24405 | &nbsp;&nbsp;&nbsp;&nbsp;966438 |
| Federal Signal Corp. | 12227 | &nbsp;&nbsp;&nbsp;&nbsp;568189 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;9475 | &nbsp;&nbsp;&nbsp;&nbsp;755631 |
| Helios Technologies, Inc. | &nbsp;&nbsp;6751 | &nbsp;&nbsp;&nbsp;&nbsp;367524 |
| Hillenbrand, Inc. | 14607 | &nbsp;&nbsp;&nbsp;&nbsp;623281 |
| Hillman Solutions Corp. (A) | 27884 | &nbsp;&nbsp;&nbsp;&nbsp;201044 |
| Hyliion Holdings Corp. (A)(B) | 30232 | &nbsp;&nbsp;&nbsp;&nbsp;70743 |
| Hyster-Yale Materials Handling, Inc. | &nbsp;&nbsp;2433 | &nbsp;&nbsp;&nbsp;&nbsp;61579 |
| Hyzon Motors, Inc. (A) | 19787 | &nbsp;&nbsp;&nbsp;&nbsp;30670 |
| John Bean Technologies Corp. | &nbsp;&nbsp;6549 | &nbsp;&nbsp;&nbsp;&nbsp;598120 |
| Kadant, Inc. | &nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;420095 |
| Kennametal, Inc. | 16879 | &nbsp;&nbsp;&nbsp;&nbsp;406109 |
| Lindsay Corp. | &nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp;362504 |
| Luxfer Holdings PLC | &nbsp;&nbsp;6038 | &nbsp;&nbsp;&nbsp;&nbsp;82841 |
| Markforged Holding Corp. (A)(B) | 24756 | &nbsp;&nbsp;&nbsp;&nbsp;28717 |
| Microvast Holdings, Inc. (A)(B) | 39254 | &nbsp;&nbsp;&nbsp;&nbsp;60059 |
| Miller Industries, Inc. | &nbsp;&nbsp;2576 | &nbsp;&nbsp;&nbsp;&nbsp;68676 |
| Mueller Industries, Inc. | 11474 | &nbsp;&nbsp;&nbsp;&nbsp;676966 |
| Mueller Water Products, Inc., Class A | 31681 | &nbsp;&nbsp;&nbsp;&nbsp;340888 |
| Nikola Corp. (A)(B) | 71319 | &nbsp;&nbsp;&nbsp;&nbsp;154049 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;62058 |
| Proterra, Inc. (A) | 47302 | &nbsp;&nbsp;&nbsp;&nbsp;178329 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;5746 | &nbsp;&nbsp;&nbsp;&nbsp;146695 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;5881 | 1231187 |
| REV Group, Inc. | &nbsp;&nbsp;7424 | &nbsp;&nbsp;&nbsp;&nbsp;93691 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;9113 | &nbsp;&nbsp;&nbsp;&nbsp;598268 |
| Standex International Corp. | &nbsp;&nbsp;2379 | &nbsp;&nbsp;&nbsp;&nbsp;243633 |
| Tennant Company | &nbsp;&nbsp;3734 | &nbsp;&nbsp;&nbsp;&nbsp;229902 |
| Terex Corp. | 13893 | &nbsp;&nbsp;&nbsp;&nbsp;593509 |
| The Gorman-Rupp Company | &nbsp;&nbsp;4734 | &nbsp;&nbsp;&nbsp;&nbsp;121285 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;6589 | &nbsp;&nbsp;&nbsp;&nbsp;220929 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;7815 | &nbsp;&nbsp;&nbsp;&nbsp;71585 |
| The Shyft Group, Inc. | &nbsp;&nbsp;7362 | &nbsp;&nbsp;&nbsp;&nbsp;183019 |
| Titan International, Inc. (A) | 10748 | &nbsp;&nbsp;&nbsp;&nbsp;164659 |
| Trinity Industries, Inc. | 17099 | &nbsp;&nbsp;&nbsp;&nbsp;505617 |
| Velo3D, Inc. (A)(B) | 13005 | &nbsp;&nbsp;&nbsp;&nbsp;23279 |
| Wabash National Corp. | &nbsp;&nbsp;9927 | &nbsp;&nbsp;&nbsp;&nbsp;224350 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 114 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;5594 | $&nbsp;&nbsp;&nbsp;&nbsp;818011 |
|  |  | 18147248 |
| **Marine – 0.2%** | **Marine – 0.2%** |  |
| Costamare, Inc. | 10952 | &nbsp;&nbsp;&nbsp;&nbsp;101635 |
| Eagle Bulk Shipping, Inc. | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp;137135 |
| Eneti, Inc. | &nbsp;&nbsp;4351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43728 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;7538 | &nbsp;&nbsp;&nbsp;&nbsp;115784 |
| Golden Ocean Group, Ltd. | 25259 | &nbsp;&nbsp;&nbsp;&nbsp;219501 |
| Matson, Inc. | &nbsp;&nbsp;7804 | &nbsp;&nbsp;&nbsp;&nbsp;487828 |
| Safe Bulkers, Inc. | 15673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45608 |
|  |  | &nbsp;&nbsp;&nbsp;1151219 |
| **Professional services – 1.6%** | **Professional services – 1.6%** |  |
| Alight, Inc., Class A (A) | 70098 | &nbsp;&nbsp;&nbsp;&nbsp;586019 |
| ASGN, Inc. (A) | 10128 | &nbsp;&nbsp;&nbsp;&nbsp;825229 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;1417 | &nbsp;&nbsp;&nbsp;&nbsp;132178 |
| CBIZ, Inc. (A) | &nbsp;&nbsp;9925 | &nbsp;&nbsp;&nbsp;&nbsp;464986 |
| CRA International, Inc. | &nbsp;&nbsp;1459 | &nbsp;&nbsp;&nbsp;&nbsp;178625 |
| Exponent, Inc. | 10542 | &nbsp;&nbsp;&nbsp;1044607 |
| First Advantage Corp. (A) | 12204 | &nbsp;&nbsp;&nbsp;&nbsp;158652 |
| Forrester Research, Inc. (A) | &nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85574 |
| Franklin Covey Company (A) | &nbsp;&nbsp;2518 | &nbsp;&nbsp;&nbsp;&nbsp;117767 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;4063 | &nbsp;&nbsp;&nbsp;&nbsp;113642 |
| HireRight Holdings Corp. (A) | &nbsp;&nbsp;4565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54141 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp;297805 |
| ICF International, Inc. | &nbsp;&nbsp;3740 | &nbsp;&nbsp;&nbsp;&nbsp;370447 |
| Insperity, Inc. | &nbsp;&nbsp;7441 | &nbsp;&nbsp;&nbsp;&nbsp;845298 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;7361 | &nbsp;&nbsp;&nbsp;&nbsp;124401 |
| Kforce, Inc. | &nbsp;&nbsp;4174 | &nbsp;&nbsp;&nbsp;&nbsp;228860 |
| Korn Ferry | 10933 | &nbsp;&nbsp;&nbsp;&nbsp;553428 |
| Legalzoom.com, Inc. (A) | 20421 | &nbsp;&nbsp;&nbsp;&nbsp;158059 |
| Planet Labs PBC (A) | 32664 | &nbsp;&nbsp;&nbsp;&nbsp;142088 |
| Red Violet, Inc. (A)(B) | &nbsp;&nbsp;2116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48710 |
| Resources Connection, Inc. | &nbsp;&nbsp;6816 | &nbsp;&nbsp;&nbsp;&nbsp;125278 |
| Skillsoft Corp. (A)(B) | 19309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25102 |
| Spire Global, Inc. (A) | 30360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29146 |
| Sterling Check Corp. (A) | &nbsp;&nbsp;5064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78340 |
| TriNet Group, Inc. (A) | &nbsp;&nbsp;7691 | &nbsp;&nbsp;&nbsp;&nbsp;521450 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;6858 | &nbsp;&nbsp;&nbsp;&nbsp;134280 |
| Upwork, Inc. (A) | 25247 | &nbsp;&nbsp;&nbsp;&nbsp;263579 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46142 |
|  |  | &nbsp;&nbsp;&nbsp;7753833 |
| **Road and rail – 0.6%** | **Road and rail – 0.6%** |  |
| ArcBest Corp. | &nbsp;&nbsp;5034 | &nbsp;&nbsp;&nbsp;&nbsp;352581 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68552 |
| Daseke, Inc. (A) | &nbsp;&nbsp;9142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52018 |
| Heartland Express, Inc. | &nbsp;&nbsp;9381 | &nbsp;&nbsp;&nbsp;&nbsp;143905 |
| Marten Transport, Ltd. | 12041 | &nbsp;&nbsp;&nbsp;&nbsp;238171 |
| PAM Transportation Services, Inc. (A) | &nbsp;&nbsp;1335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34577 |
| Saia, Inc. (A) | &nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;1150724 |
| TuSimple Holdings, Inc., Class A (A) | 32449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53216 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47920 |
| Werner Enterprises, Inc. | 13107 | &nbsp;&nbsp;&nbsp;&nbsp;527688 |
|  |  | &nbsp;&nbsp;&nbsp;2669352 |
| **Trading companies and distributors – 1.6%** | **Trading companies and distributors – 1.6%** |  |
| Alta Equipment Group, Inc. | &nbsp;&nbsp;4615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60872 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;7853 | &nbsp;&nbsp;&nbsp;&nbsp;989714 |
| Beacon Roofing Supply, Inc. (A) | 10582 | &nbsp;&nbsp;&nbsp;&nbsp;558624 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;1763 | &nbsp;&nbsp;&nbsp;&nbsp;125367 |
| Boise Cascade Company | &nbsp;&nbsp;8085 | &nbsp;&nbsp;&nbsp;&nbsp;555197 |
| Custom Truck One Source, Inc. (A) | 12773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80725 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41209 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;3336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91907 |
| GATX Corp. | &nbsp;&nbsp;7213 | &nbsp;&nbsp;&nbsp;&nbsp;767030 |
| Global Industrial, Inc. | &nbsp;&nbsp;2775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65296 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| GMS, Inc. (A) | &nbsp;&nbsp;8917 | $&nbsp;&nbsp;&nbsp;&nbsp;444067 |
| H&E Equipment Services, Inc. | &nbsp;&nbsp;6664 | &nbsp;&nbsp;&nbsp;&nbsp;302546 |
| Herc Holdings, Inc. | &nbsp;&nbsp;5239 | &nbsp;&nbsp;&nbsp;&nbsp;689295 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;8825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89309 |
| McGrath RentCorp | &nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;481358 |
| MRC Global, Inc. (A) | 17421 | &nbsp;&nbsp;&nbsp;&nbsp;201735 |
| NOW, Inc. (A) | 23121 | &nbsp;&nbsp;&nbsp;&nbsp;293637 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;7855 | &nbsp;&nbsp;&nbsp;&nbsp;410659 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;113722 |
| Textainer Group Holdings, Ltd. | &nbsp;&nbsp;9047 | &nbsp;&nbsp;&nbsp;&nbsp;280547 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;4194 | &nbsp;&nbsp;&nbsp;&nbsp;166628 |
| Transcat, Inc. (A) | &nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;106447 |
| Triton International, Ltd. | 12163 | &nbsp;&nbsp;&nbsp;&nbsp;836571 |
| Veritiv Corp. | &nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp;331660 |
|  |  | &nbsp;&nbsp;&nbsp;8084122 |
|  |  | 73725446 |
| **Information technology – 12.2%** |  |  |
| **Communications equipment – 0.9%** | **Communications equipment – 0.9%** |  |
| ADTRAN Holdings, Inc. | 15733 | &nbsp;&nbsp;&nbsp;&nbsp;295623 |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;2353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73390 |
| Calix, Inc. (A) | 11858 | &nbsp;&nbsp;&nbsp;&nbsp;811443 |
| Cambium Networks Corp. (A) | &nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55389 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;2362 | &nbsp;&nbsp;&nbsp;&nbsp;222359 |
| CommScope Holding Company, Inc. (A) | 42542 | &nbsp;&nbsp;&nbsp;&nbsp;312684 |
| Comtech Telecommunications Corp. | &nbsp;&nbsp;6033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73241 |
| Digi International, Inc. (A) | &nbsp;&nbsp;7010 | &nbsp;&nbsp;&nbsp;&nbsp;256216 |
| DZS, Inc. (A) | &nbsp;&nbsp;3896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49401 |
| Extreme Networks, Inc. (A) | 26470 | &nbsp;&nbsp;&nbsp;&nbsp;484666 |
| Harmonic, Inc. (A) | 19028 | &nbsp;&nbsp;&nbsp;&nbsp;249267 |
| Infinera Corp. (A) | 40288 | &nbsp;&nbsp;&nbsp;&nbsp;271541 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;6102 | &nbsp;&nbsp;&nbsp;&nbsp;110507 |
| NetScout Systems, Inc. (A) | 14208 | &nbsp;&nbsp;&nbsp;&nbsp;461902 |
| Ribbon Communications, Inc. (A) | 16984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47385 |
| Viavi Solutions, Inc. (A) | 47115 | &nbsp;&nbsp;&nbsp;&nbsp;495179 |
|  |  | &nbsp;&nbsp;&nbsp;4270193 |
| **Electronic equipment, instruments and components – 2.2%** | **Electronic equipment, instruments and components – 2.2%** |  |
| 908 Devices, Inc. (A) | &nbsp;&nbsp;4720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35966 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;7750 | &nbsp;&nbsp;&nbsp;&nbsp;664795 |
| Aeva Technologies, Inc. (A) | 22689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30857 |
| Akoustis Technologies, Inc. (A)(B) | 12987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36623 |
| Arlo Technologies, Inc. (A) | 18292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64205 |
| Badger Meter, Inc. | &nbsp;&nbsp;5999 | &nbsp;&nbsp;&nbsp;&nbsp;654071 |
| Belden, Inc. | &nbsp;&nbsp;8893 | &nbsp;&nbsp;&nbsp;&nbsp;639407 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;7049 | &nbsp;&nbsp;&nbsp;&nbsp;188138 |
| CTS Corp. | &nbsp;&nbsp;6457 | &nbsp;&nbsp;&nbsp;&nbsp;254535 |
| ePlus, Inc. (A) | &nbsp;&nbsp;5402 | &nbsp;&nbsp;&nbsp;&nbsp;239201 |
| Evolv Technologies Holdings, Inc. (A) | 18971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49135 |
| Fabrinet (A) | &nbsp;&nbsp;7595 | &nbsp;&nbsp;&nbsp;&nbsp;973831 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;4047 | &nbsp;&nbsp;&nbsp;&nbsp;119022 |
| Focus Universal, Inc. (A) | &nbsp;&nbsp;3896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24973 |
| Identiv, Inc. (A) | &nbsp;&nbsp;5066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36678 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;6439 | &nbsp;&nbsp;&nbsp;&nbsp;645639 |
| Itron, Inc. (A) | &nbsp;&nbsp;9334 | &nbsp;&nbsp;&nbsp;&nbsp;472767 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;5136 | &nbsp;&nbsp;&nbsp;&nbsp;116022 |
| Knowles Corp. (A) | 18405 | &nbsp;&nbsp;&nbsp;&nbsp;302210 |
| Lightwave Logic, Inc. (A)(B) | 23680 | &nbsp;&nbsp;&nbsp;&nbsp;102061 |
| Methode Electronics, Inc. | &nbsp;&nbsp;7371 | &nbsp;&nbsp;&nbsp;&nbsp;327051 |
| MicroVision, Inc. (A)(B) | 35064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82400 |
| Mirion Technologies, Inc. (A) | 28624 | &nbsp;&nbsp;&nbsp;&nbsp;189205 |
| Napco Security Technologies, Inc. (A) | &nbsp;&nbsp;6069 | &nbsp;&nbsp;&nbsp;&nbsp;166776 |
| nLight, Inc. (A) | &nbsp;&nbsp;9569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97030 |
| Novanta, Inc. (A) | &nbsp;&nbsp;7333 | &nbsp;&nbsp;&nbsp;&nbsp;996335 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;3232 | &nbsp;&nbsp;&nbsp;&nbsp;257009 |
| Ouster, Inc. (A)(B) | 30294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26144 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 115 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| PAR Technology Corp. (A) | &nbsp;&nbsp;5554 | $&nbsp;&nbsp;&nbsp;&nbsp;144793 |
| PC Connection, Inc. | &nbsp;&nbsp;2211 | &nbsp;&nbsp;&nbsp;&nbsp;103696 |
| Plexus Corp. (A) | &nbsp;&nbsp;5599 | &nbsp;&nbsp;&nbsp;&nbsp;576305 |
| Rogers Corp. (A) | &nbsp;&nbsp;3897 | &nbsp;&nbsp;&nbsp;&nbsp;465068 |
| Sanmina Corp. (A) | 11678 | &nbsp;&nbsp;&nbsp;&nbsp;669033 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;5239 | &nbsp;&nbsp;&nbsp;&nbsp;153084 |
| SmartRent, Inc. (A) | 27394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66567 |
| TTM Technologies, Inc. (A) | 20727 | &nbsp;&nbsp;&nbsp;&nbsp;312563 |
| Velodyne Lidar, Inc. (A) | 44203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32653 |
| Vishay Intertechnology, Inc. | 26715 | &nbsp;&nbsp;&nbsp;&nbsp;576243 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;2731 | &nbsp;&nbsp;&nbsp;&nbsp;105553 |
|  |  | 10997644 |
| **IT services – 1.9%** | **IT services – 1.9%** |  |
| AvidXchange Holdings, Inc. (A) | 30570 | &nbsp;&nbsp;&nbsp;&nbsp;303866 |
| BigCommerce Holdings, Inc., Series 1 (A) | 13852 | &nbsp;&nbsp;&nbsp;&nbsp;121066 |
| Brightcove, Inc. (A) | &nbsp;&nbsp;9452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49434 |
| Cantaloupe, Inc. (A) | 12550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54593 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;2962 | &nbsp;&nbsp;&nbsp;&nbsp;135719 |
| Cerberus Cyber Sentinel Corp. (A) | 10178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25954 |
| Conduent, Inc. (A) | 36166 | &nbsp;&nbsp;&nbsp;&nbsp;146472 |
| CSG Systems International, Inc. | &nbsp;&nbsp;6522 | &nbsp;&nbsp;&nbsp;&nbsp;373058 |
| DigitalOcean Holdings, Inc. (A) | 14500 | &nbsp;&nbsp;&nbsp;&nbsp;369315 |
| Edgio, Inc. (A) | 29958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33853 |
| EVERTEC, Inc. | 12481 | &nbsp;&nbsp;&nbsp;&nbsp;404135 |
| Evo Payments, Inc., Class A (A) | &nbsp;&nbsp;9668 | &nbsp;&nbsp;&nbsp;&nbsp;327165 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;6658 | &nbsp;&nbsp;&nbsp;1128065 |
| Fastly, Inc., Class A (A) | 23686 | &nbsp;&nbsp;&nbsp;&nbsp;193988 |
| Flywire Corp. (A) | 11833 | &nbsp;&nbsp;&nbsp;&nbsp;289554 |
| Grid Dynamics Holdings, Inc. (A) | 11239 | &nbsp;&nbsp;&nbsp;&nbsp;126102 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp;113522 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39288 |
| Information Services Group, Inc. | &nbsp;&nbsp;7823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35986 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;6540 | &nbsp;&nbsp;&nbsp;&nbsp;159380 |
| Marqeta, Inc., Class A (A) | 90241 | &nbsp;&nbsp;&nbsp;&nbsp;551373 |
| Maximus, Inc. | 12530 | &nbsp;&nbsp;&nbsp;&nbsp;918825 |
| MoneyGram International, Inc. (A) | 19390 | &nbsp;&nbsp;&nbsp;&nbsp;211157 |
| Paya Holdings, Inc. (A) | 18412 | &nbsp;&nbsp;&nbsp;&nbsp;144902 |
| Payoneer Global, Inc. (A) | 45675 | &nbsp;&nbsp;&nbsp;&nbsp;249842 |
| Paysafe, Ltd. (A) | &nbsp;&nbsp;6328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87896 |
| Perficient, Inc. (A) | &nbsp;&nbsp;7049 | &nbsp;&nbsp;&nbsp;&nbsp;492232 |
| PFSweb, Inc. | &nbsp;&nbsp;4074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25055 |
| Rackspace Technology, Inc. (A)(B) | 12797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37751 |
| Remitly Global, Inc. (A) | 21032 | &nbsp;&nbsp;&nbsp;&nbsp;240816 |
| Repay Holdings Corp. (A) | 18420 | &nbsp;&nbsp;&nbsp;&nbsp;148281 |
| Sabre Corp. (A) | 67549 | &nbsp;&nbsp;&nbsp;&nbsp;417453 |
| Squarespace, Inc., Class A (A) | &nbsp;&nbsp;6613 | &nbsp;&nbsp;&nbsp;&nbsp;146610 |
| StoneCo, Ltd., Class A (A) | 57297 | &nbsp;&nbsp;&nbsp;&nbsp;540884 |
| The Hackett Group, Inc. | &nbsp;&nbsp;5765 | &nbsp;&nbsp;&nbsp;&nbsp;117433 |
| TTEC Holdings, Inc. | &nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;171048 |
| Tucows, Inc., Class A (A)(B) | &nbsp;&nbsp;2183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74047 |
| Unisys Corp. (A) | 13964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71356 |
| Verra Mobility Corp. (A) | 29354 | &nbsp;&nbsp;&nbsp;&nbsp;405966 |
|  |  | &nbsp;&nbsp;&nbsp;9483442 |
| **Semiconductors and semiconductor equipment – 2.5%** | **Semiconductors and semiconductor equipment – 2.5%** |  |
| ACM Research, Inc., Class A (A) | 10111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77956 |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;4552 | &nbsp;&nbsp;&nbsp;&nbsp;130051 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;7568 | &nbsp;&nbsp;&nbsp;&nbsp;622317 |
| Amkor Technology, Inc. | 21007 | &nbsp;&nbsp;&nbsp;&nbsp;503748 |
| Atomera, Inc. (A)(B) | &nbsp;&nbsp;4844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30130 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;6740 | &nbsp;&nbsp;&nbsp;&nbsp;534886 |
| AXT, Inc. (A) | &nbsp;&nbsp;9593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42017 |
| CEVA, Inc. (A) | &nbsp;&nbsp;4855 | &nbsp;&nbsp;&nbsp;&nbsp;124191 |
| Cohu, Inc. (A) | &nbsp;&nbsp;9907 | &nbsp;&nbsp;&nbsp;&nbsp;317519 |
| Credo Technology Group Holding, Ltd. (A) | 20020 | &nbsp;&nbsp;&nbsp;&nbsp;266466 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| Diodes, Inc. (A) | &nbsp;&nbsp;9210 | $&nbsp;&nbsp;&nbsp;&nbsp;701249 |
| FormFactor, Inc. (A) | 16046 | &nbsp;&nbsp;&nbsp;&nbsp;356703 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;5907 | &nbsp;&nbsp;&nbsp;&nbsp;158426 |
| Impinj, Inc. (A) | &nbsp;&nbsp;4432 | &nbsp;&nbsp;&nbsp;&nbsp;483886 |
| Indie Semiconductor, Inc., Class A (A) | 21361 | &nbsp;&nbsp;&nbsp;&nbsp;124535 |
| Kulicke & Soffa Industries, Inc. | 11791 | &nbsp;&nbsp;&nbsp;&nbsp;521870 |
| MACOM Technology Solutions Holdings, Inc. (A) | 10455 | &nbsp;&nbsp;&nbsp;&nbsp;658456 |
| MaxLinear, Inc. (A) | 15137 | &nbsp;&nbsp;&nbsp;&nbsp;513901 |
| Onto Innovation, Inc. (A) | 10255 | &nbsp;&nbsp;&nbsp;&nbsp;698263 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;6364 | &nbsp;&nbsp;&nbsp;&nbsp;181501 |
| Photronics, Inc. (A) | 12338 | &nbsp;&nbsp;&nbsp;&nbsp;207649 |
| Power Integrations, Inc. | 11752 | &nbsp;&nbsp;&nbsp;&nbsp;842853 |
| Rambus, Inc. (A) | 22358 | &nbsp;&nbsp;&nbsp;&nbsp;800864 |
| Semtech Corp. (A) | 13198 | &nbsp;&nbsp;&nbsp;&nbsp;378651 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;6910 | &nbsp;&nbsp;&nbsp;&nbsp;937480 |
| SiTime Corp. (A) | &nbsp;&nbsp;3363 | &nbsp;&nbsp;&nbsp;&nbsp;341748 |
| SMART Global Holdings, Inc. (A) | 10098 | &nbsp;&nbsp;&nbsp;&nbsp;150258 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;8234 | &nbsp;&nbsp;&nbsp;&nbsp;783547 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;9366 | &nbsp;&nbsp;&nbsp;&nbsp;310483 |
| Veeco Instruments, Inc. (A) | 10462 | &nbsp;&nbsp;&nbsp;&nbsp;194384 |
|  |  | 11995988 |
| **Software – 4.4%** | **Software – 4.4%** |  |
| 8x8, Inc. (A) | 23625 | &nbsp;&nbsp;&nbsp;&nbsp;102060 |
| A10 Networks, Inc. | 13342 | &nbsp;&nbsp;&nbsp;&nbsp;221877 |
| ACI Worldwide, Inc. (A) | 23516 | &nbsp;&nbsp;&nbsp;&nbsp;540868 |
| Adeia, Inc. | 21543 | &nbsp;&nbsp;&nbsp;&nbsp;204228 |
| Agilysys, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;326294 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;9977 | &nbsp;&nbsp;&nbsp;&nbsp;493662 |
| Alkami Technology, Inc. (A) | &nbsp;&nbsp;7689 | &nbsp;&nbsp;&nbsp;&nbsp;112183 |
| Altair Engineering, Inc., Class A (A) | 10776 | &nbsp;&nbsp;&nbsp;&nbsp;489985 |
| American Software, Inc., Class A | &nbsp;&nbsp;6763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99281 |
| Amplitude, Inc., Class A (A)(B) | 12043 | &nbsp;&nbsp;&nbsp;&nbsp;145479 |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;3984 | &nbsp;&nbsp;&nbsp;&nbsp;419834 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;8312 | &nbsp;&nbsp;&nbsp;&nbsp;270639 |
| Applied Digital Corp. (A) | 15335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28216 |
| Asana, Inc., Class A (A) | 15400 | &nbsp;&nbsp;&nbsp;&nbsp;212058 |
| AvePoint, Inc. (A) | 27339 | &nbsp;&nbsp;&nbsp;&nbsp;112363 |
| Benefitfocus, Inc. (A) | &nbsp;&nbsp;5501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57540 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;9618 | &nbsp;&nbsp;&nbsp;&nbsp;566115 |
| Blackline, Inc. (A) | 11434 | &nbsp;&nbsp;&nbsp;&nbsp;769165 |
| Blend Labs, Inc., Class A (A) | 43559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62725 |
| Box, Inc., Class A (A) | 28788 | &nbsp;&nbsp;&nbsp;&nbsp;896170 |
| c3.ai, Inc., Class A (A) | 12883 | &nbsp;&nbsp;&nbsp;&nbsp;144161 |
| Cerence, Inc. (A) | &nbsp;&nbsp;8225 | &nbsp;&nbsp;&nbsp;&nbsp;152409 |
| Cleanspark, Inc. (A)(B) | 10177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20761 |
| Clear Secure, Inc., Class A | 12888 | &nbsp;&nbsp;&nbsp;&nbsp;353518 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;9135 | &nbsp;&nbsp;&nbsp;&nbsp;574043 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;3794 | &nbsp;&nbsp;&nbsp;&nbsp;203965 |
| Couchbase, Inc. (A)(B) | &nbsp;&nbsp;6065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80422 |
| CS Disco, Inc. (A) | &nbsp;&nbsp;5035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31821 |
| Cvent Holding Corp. (A) | 10021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54113 |
| Digimarc Corp. (A)(B) | &nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55729 |
| Digital Turbine, Inc. (A) | 19478 | &nbsp;&nbsp;&nbsp;&nbsp;296845 |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;6495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92489 |
| Duck Creek Technologies, Inc. (A) | 16428 | &nbsp;&nbsp;&nbsp;&nbsp;197957 |
| E2open Parent Holdings, Inc. (A)(B) | 42039 | &nbsp;&nbsp;&nbsp;&nbsp;246769 |
| Ebix, Inc. | &nbsp;&nbsp;5523 | &nbsp;&nbsp;&nbsp;&nbsp;110239 |
| eGain Corp. (A) | &nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39488 |
| Enfusion, Inc., Class A (A) | &nbsp;&nbsp;5648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54616 |
| EngageSmart, Inc. (A) | &nbsp;&nbsp;7379 | &nbsp;&nbsp;&nbsp;&nbsp;129870 |
| Envestnet, Inc. (A) | 11333 | &nbsp;&nbsp;&nbsp;&nbsp;699246 |
| Everbridge, Inc. (A) | &nbsp;&nbsp;8349 | &nbsp;&nbsp;&nbsp;&nbsp;246963 |
| EverCommerce, Inc. (A) | &nbsp;&nbsp;5393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40124 |
| ForgeRock, Inc., Class A (A) | &nbsp;&nbsp;7838 | &nbsp;&nbsp;&nbsp;&nbsp;178471 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 116 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Instructure Holdings, Inc. (A) | &nbsp;&nbsp;3728 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87384 |
| Intapp, Inc. (A) | &nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78062 |
| InterDigital, Inc. | &nbsp;&nbsp;6281 | &nbsp;&nbsp;&nbsp;&nbsp;310784 |
| KnowBe4, Inc., Class A (A) | 15043 | &nbsp;&nbsp;&nbsp;&nbsp;372766 |
| LivePerson, Inc. (A) | 14647 | &nbsp;&nbsp;&nbsp;&nbsp;148521 |
| LiveRamp Holdings, Inc. (A) | 13907 | &nbsp;&nbsp;&nbsp;&nbsp;325980 |
| Marathon Digital Holdings, Inc. (A)(B) | 24550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83961 |
| Matterport, Inc. (A) | 47700 | &nbsp;&nbsp;&nbsp;&nbsp;133560 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;4922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67579 |
| MicroStrategy, Inc., Class A (A)(B) | &nbsp;&nbsp;1954 | &nbsp;&nbsp;&nbsp;&nbsp;276628 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;9185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89003 |
| Model N, Inc. (A) | &nbsp;&nbsp;7509 | &nbsp;&nbsp;&nbsp;&nbsp;304565 |
| Momentive Global, Inc. (A) | 27583 | &nbsp;&nbsp;&nbsp;&nbsp;193081 |
| N-able, Inc. (A) | 14243 | &nbsp;&nbsp;&nbsp;&nbsp;146418 |
| NextNav, Inc. (A) | 14443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42318 |
| Olo, Inc., Class A (A) | 18825 | &nbsp;&nbsp;&nbsp;&nbsp;117656 |
| ON24, Inc. (A) | &nbsp;&nbsp;8786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75823 |
| OneSpan, Inc. (A) | &nbsp;&nbsp;8424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94265 |
| PagerDuty, Inc. (A) | 17907 | &nbsp;&nbsp;&nbsp;&nbsp;475610 |
| PowerSchool Holdings, Inc., Class A (A) | &nbsp;&nbsp;9561 | &nbsp;&nbsp;&nbsp;&nbsp;220668 |
| Progress Software Corp. | &nbsp;&nbsp;8894 | &nbsp;&nbsp;&nbsp;&nbsp;448702 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;8533 | &nbsp;&nbsp;&nbsp;&nbsp;207011 |
| Q2 Holdings, Inc. (A) | 11712 | &nbsp;&nbsp;&nbsp;&nbsp;314701 |
| Qualys, Inc. (A) | &nbsp;&nbsp;7948 | &nbsp;&nbsp;&nbsp;&nbsp;892004 |
| Rapid7, Inc. (A) | 12268 | &nbsp;&nbsp;&nbsp;&nbsp;416867 |
| Rimini Street, Inc. (A) | 10746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40942 |
| Riot Blockchain, Inc. (A)(B) | 33181 | &nbsp;&nbsp;&nbsp;&nbsp;112484 |
| Sapiens International Corp. NV | &nbsp;&nbsp;6497 | &nbsp;&nbsp;&nbsp;&nbsp;120065 |
| ShotSpotter, Inc. (A) | &nbsp;&nbsp;1934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65427 |
| SolarWinds Corp. (A) | 10233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95781 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;9679 | &nbsp;&nbsp;&nbsp;&nbsp;546476 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;7436 | &nbsp;&nbsp;&nbsp;&nbsp;955005 |
| Sumo Logic, Inc. (A) | 24209 | &nbsp;&nbsp;&nbsp;&nbsp;196093 |
| Telos Corp. (A) | 11552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58800 |
| Tenable Holdings, Inc. (A) | 23132 | &nbsp;&nbsp;&nbsp;&nbsp;882486 |
| Upland Software, Inc. (A) | &nbsp;&nbsp;6287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44826 |
| UserTesting, Inc. (A)(B) | 10158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76287 |
| Varonis Systems, Inc. (A) | 22634 | &nbsp;&nbsp;&nbsp;&nbsp;541858 |
| Verint Systems, Inc. (A) | 13147 | &nbsp;&nbsp;&nbsp;&nbsp;476973 |
| Veritone, Inc. (A) | &nbsp;&nbsp;7164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37969 |
| Weave Communications, Inc. (A) | &nbsp;&nbsp;6932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31749 |
| Workiva, Inc. (A) | &nbsp;&nbsp;9866 | &nbsp;&nbsp;&nbsp;&nbsp;828448 |
| Xperi, Inc. (A) | &nbsp;&nbsp;8646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74442 |
| Yext, Inc. (A) | 24133 | &nbsp;&nbsp;&nbsp;&nbsp;157588 |
| Zeta Global Holdings Corp., Class A (A) | 22904 | &nbsp;&nbsp;&nbsp;&nbsp;187126 |
| Zuora, Inc., Class A (A) | 25937 | &nbsp;&nbsp;&nbsp;&nbsp;164959 |
|  |  | 21754462 |
| **Technology hardware, storage and peripherals – 0.3%** | **Technology hardware, storage and peripherals – 0.3%** |  |
| Avid Technology, Inc. (A) | &nbsp;&nbsp;7493 | &nbsp;&nbsp;&nbsp;&nbsp;199239 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;8087 | &nbsp;&nbsp;&nbsp;&nbsp;109741 |
| Diebold Nixdorf, Inc. (A) | 16905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24005 |
| Eastman Kodak Company (A)(B) | 12835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39147 |
| IonQ, Inc. (A)(B) | 25403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87640 |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;9543 | &nbsp;&nbsp;&nbsp;&nbsp;783480 |
| Turtle Beach Corp. (A) | &nbsp;&nbsp;3489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25016 |
| Xerox Holdings Corp. | 23798 | &nbsp;&nbsp;&nbsp;&nbsp;347451 |
|  |  | &nbsp;&nbsp;&nbsp;1615719 |
|  |  | 60117448 |
| **Materials – 4.1%** |  |  |
| **Chemicals – 2.0%** | **Chemicals – 2.0%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;5606 | &nbsp;&nbsp;&nbsp;&nbsp;213140 |
| American Vanguard Corp. | &nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp;128480 |
| Amyris, Inc. (A)(B) | 42810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65499 |
| Aspen Aerogels, Inc. (A) | &nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76753 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Avient Corp. | &nbsp;&nbsp;18862 | $&nbsp;&nbsp;&nbsp;&nbsp;636781 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;6556 | &nbsp;&nbsp;&nbsp;&nbsp;800553 |
| Cabot Corp. | &nbsp;&nbsp;11403 | &nbsp;&nbsp;&nbsp;&nbsp;762177 |
| Chase Corp. | &nbsp;&nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;132409 |
| Danimer Scientific, Inc. (A)(B) | &nbsp;&nbsp;21880 | &nbsp;&nbsp;&nbsp;&nbsp;39165 |
| Diversey Holdings, Ltd. (A) | &nbsp;&nbsp;17021 | &nbsp;&nbsp;&nbsp;&nbsp;72509 |
| Ecovyst, Inc. (A) | &nbsp;&nbsp;14539 | &nbsp;&nbsp;&nbsp;&nbsp;128816 |
| FutureFuel Corp. | &nbsp;&nbsp;&nbsp;5889 | &nbsp;&nbsp;&nbsp;&nbsp;47878 |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;4013 | &nbsp;&nbsp;&nbsp;&nbsp;154902 |
| HB Fuller Company | &nbsp;&nbsp;10896 | &nbsp;&nbsp;&nbsp;&nbsp;780372 |
| Ingevity Corp. (A) | &nbsp;&nbsp;&nbsp;7915 | &nbsp;&nbsp;&nbsp;&nbsp;557533 |
| Innospec, Inc. | &nbsp;&nbsp;&nbsp;5038 | &nbsp;&nbsp;&nbsp;&nbsp;518209 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;&nbsp;66372 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;4459 | &nbsp;&nbsp;&nbsp;&nbsp;125744 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;4674 | &nbsp;&nbsp;&nbsp;&nbsp;43936 |
| Livent Corp. (A) | &nbsp;&nbsp;33512 | &nbsp;&nbsp;&nbsp;&nbsp;665883 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;15123 | &nbsp;&nbsp;&nbsp;&nbsp;201136 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;11290 | &nbsp;&nbsp;&nbsp;&nbsp;235961 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;6625 | &nbsp;&nbsp;&nbsp;&nbsp;402270 |
| Origin Materials, Inc. (A) | &nbsp;&nbsp;22706 | &nbsp;&nbsp;&nbsp;&nbsp;104675 |
| Orion Engineered Carbons SA | &nbsp;&nbsp;12542 | &nbsp;&nbsp;&nbsp;&nbsp;223373 |
| Perimeter Solutions SA (A) | &nbsp;&nbsp;24966 | &nbsp;&nbsp;&nbsp;&nbsp;228189 |
| PureCycle Technologies, Inc. (A)(B) | &nbsp;&nbsp;22415 | &nbsp;&nbsp;&nbsp;&nbsp;151525 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;2808 | &nbsp;&nbsp;&nbsp;&nbsp;468655 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;12782 | &nbsp;&nbsp;&nbsp;&nbsp;122707 |
| Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;8622 | &nbsp;&nbsp;&nbsp;&nbsp;628716 |
| Stepan Company | &nbsp;&nbsp;&nbsp;4327 | &nbsp;&nbsp;&nbsp;&nbsp;460652 |
| Tredegar Corp. | &nbsp;&nbsp;&nbsp;6187 | &nbsp;&nbsp;&nbsp;&nbsp;63231 |
| Trinseo PLC | &nbsp;&nbsp;&nbsp;7370 | &nbsp;&nbsp;&nbsp;&nbsp;167373 |
| Tronox Holdings PLC | &nbsp;&nbsp;24204 | &nbsp;&nbsp;&nbsp;&nbsp;331837 |
|  |  | 9807411 |
| **Construction materials – 0.2%** | **Construction materials – 0.2%** |  |
| Summit Materials, Inc., Class A (A) | &nbsp;&nbsp;24882 | &nbsp;&nbsp;&nbsp;&nbsp;706398 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp;61231 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;767629 |
| **Containers and packaging – 0.3%** | **Containers and packaging – 0.3%** |  |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;5074 | &nbsp;&nbsp;&nbsp;&nbsp;340262 |
| Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;&nbsp;93954 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;7615 | &nbsp;&nbsp;&nbsp;&nbsp;169281 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;32072 | &nbsp;&nbsp;&nbsp;&nbsp;531433 |
| Pactiv Evergreen, Inc. | &nbsp;&nbsp;&nbsp;9056 | &nbsp;&nbsp;&nbsp;&nbsp;102876 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;9614 | &nbsp;&nbsp;&nbsp;&nbsp;55473 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;8646 | &nbsp;&nbsp;&nbsp;&nbsp;239840 |
|  |  | 1533119 |
| **Metals and mining – 1.5%** | **Metals and mining – 1.5%** |  |
| 1911 Gold Corp. (A) | &nbsp;&nbsp;&nbsp;5045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 |
| 5E Advanced Materials, Inc. (A) | &nbsp;&nbsp;&nbsp;8020 | &nbsp;&nbsp;&nbsp;&nbsp;63198 |
| Alpha Metallurgical Resources, Inc. | &nbsp;&nbsp;&nbsp;3149 | &nbsp;&nbsp;&nbsp;&nbsp;460982 |
| Arconic Corp. (A) | &nbsp;&nbsp;21191 | &nbsp;&nbsp;&nbsp;&nbsp;448402 |
| ATI, Inc. (A) | &nbsp;&nbsp;25551 | &nbsp;&nbsp;&nbsp;&nbsp;762953 |
| Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;9947 | &nbsp;&nbsp;&nbsp;&nbsp;367442 |
| Century Aluminum Company (A) | &nbsp;&nbsp;11076 | &nbsp;&nbsp;&nbsp;&nbsp;90602 |
| Coeur Mining, Inc. (A) | &nbsp;&nbsp;58049 | &nbsp;&nbsp;&nbsp;&nbsp;195045 |
| Commercial Metals Company | &nbsp;&nbsp;24307 | 1174028 |
| Compass Minerals International, Inc. | &nbsp;&nbsp;&nbsp;7108 | &nbsp;&nbsp;&nbsp;&nbsp;291428 |
| Constellium SE (A) | &nbsp;&nbsp;26050 | &nbsp;&nbsp;&nbsp;&nbsp;308172 |
| Dakota Gold Corp. (A) | &nbsp;&nbsp;12143 | &nbsp;&nbsp;&nbsp;&nbsp;37036 |
| Ferroglobe PLC (A)(C) | &nbsp;&nbsp;17737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Haynes International, Inc. | &nbsp;&nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp;119251 |
| Hecla Mining Company | 114672 | &nbsp;&nbsp;&nbsp;&nbsp;637576 |
| Ivanhoe Electric, Inc. (A) | &nbsp;&nbsp;&nbsp;2889 | &nbsp;&nbsp;&nbsp;&nbsp;35101 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;3261 | &nbsp;&nbsp;&nbsp;&nbsp;247706 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;4224 | &nbsp;&nbsp;&nbsp;&nbsp;369642 |
| Novagold Resources, Inc. (A) | &nbsp;&nbsp;49869 | &nbsp;&nbsp;&nbsp;&nbsp;298217 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 117 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Metals and mining (continued)** | **Metals and mining (continued)** |  |
| Olympic Steel, Inc. | &nbsp;&nbsp;2086 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70048 |
| Pan American Silver Corp., CVR (A) | 88114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50313 |
| Piedmont Lithium, Inc. (A) | &nbsp;&nbsp;3604 | &nbsp;&nbsp;&nbsp;&nbsp;158648 |
| Ramaco Resources, Inc. | &nbsp;&nbsp;4856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42684 |
| Ryerson Holding Corp. | &nbsp;&nbsp;3879 | &nbsp;&nbsp;&nbsp;&nbsp;117379 |
| Schnitzer Steel Industries, Inc., Class A | &nbsp;&nbsp;5343 | &nbsp;&nbsp;&nbsp;&nbsp;163763 |
| SunCoke Energy, Inc. | 17201 | &nbsp;&nbsp;&nbsp;&nbsp;148445 |
| TimkenSteel Corp. (A) | &nbsp;&nbsp;9312 | &nbsp;&nbsp;&nbsp;&nbsp;169199 |
| Warrior Met Coal, Inc. | 10425 | &nbsp;&nbsp;&nbsp;&nbsp;361122 |
| Worthington Industries, Inc. | &nbsp;&nbsp;6446 | &nbsp;&nbsp;&nbsp;&nbsp;320431 |
|  |  | &nbsp;&nbsp;&nbsp;7509385 |
| **Paper and forest products – 0.1%** | **Paper and forest products – 0.1%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;3530 | &nbsp;&nbsp;&nbsp;&nbsp;133469 |
| Glatfelter Corp. | 10006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27817 |
| Resolute Forest Products, Inc. (A) | &nbsp;&nbsp;9238 | &nbsp;&nbsp;&nbsp;&nbsp;199448 |
| Sylvamo Corp. | &nbsp;&nbsp;7238 | &nbsp;&nbsp;&nbsp;&nbsp;351694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;712428 |
|  |  | 20329972 |
| **Real estate – 6.2%** |  |  |
| **Equity real estate investment trusts – 5.6%** | **Equity real estate investment trusts – 5.6%** |  |
| Acadia Realty Trust | 19175 | &nbsp;&nbsp;&nbsp;&nbsp;275161 |
| Agree Realty Corp. | 17890 | &nbsp;&nbsp;&nbsp;1268938 |
| Alexander & Baldwin, Inc. | 15015 | &nbsp;&nbsp;&nbsp;&nbsp;281231 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83623 |
| American Assets Trust, Inc. | 10044 | &nbsp;&nbsp;&nbsp;&nbsp;266166 |
| Apartment Investment and Management Company, Class A | 31445 | &nbsp;&nbsp;&nbsp;&nbsp;223888 |
| Apple Hospitality REIT, Inc. | 44294 | &nbsp;&nbsp;&nbsp;&nbsp;698959 |
| Armada Hoffler Properties, Inc. | 14067 | &nbsp;&nbsp;&nbsp;&nbsp;161771 |
| Ashford Hospitality Trust, Inc. (A) | &nbsp;&nbsp;8051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35988 |
| Braemar Hotels & Resorts, Inc. | 14940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61403 |
| Brandywine Realty Trust | 35269 | &nbsp;&nbsp;&nbsp;&nbsp;216904 |
| Broadstone Net Lease, Inc. | 35818 | &nbsp;&nbsp;&nbsp;&nbsp;580610 |
| BRT Apartments Corp. | &nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54383 |
| CareTrust REIT, Inc. | 19900 | &nbsp;&nbsp;&nbsp;&nbsp;369742 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;5862 | &nbsp;&nbsp;&nbsp;&nbsp;135295 |
| Centerspace | &nbsp;&nbsp;3153 | &nbsp;&nbsp;&nbsp;&nbsp;184987 |
| Chatham Lodging Trust | 10679 | &nbsp;&nbsp;&nbsp;&nbsp;131031 |
| City Office REIT, Inc. | &nbsp;&nbsp;8917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74724 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;4869 | &nbsp;&nbsp;&nbsp;&nbsp;174310 |
| Corporate Office Properties Trust | 22856 | &nbsp;&nbsp;&nbsp;&nbsp;592885 |
| CTO Realty Growth, Inc. | &nbsp;&nbsp;4047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73979 |
| DiamondRock Hospitality Company | 43520 | &nbsp;&nbsp;&nbsp;&nbsp;356429 |
| Diversified Healthcare Trust | 54192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35051 |
| Easterly Government Properties, Inc. | 18297 | &nbsp;&nbsp;&nbsp;&nbsp;261098 |
| Elme Communities | 17729 | &nbsp;&nbsp;&nbsp;&nbsp;315576 |
| Empire State Realty Trust, Inc., Class A | 28779 | &nbsp;&nbsp;&nbsp;&nbsp;193970 |
| Equity Commonwealth | 21471 | &nbsp;&nbsp;&nbsp;&nbsp;536131 |
| Essential Properties Realty Trust, Inc. | 28939 | &nbsp;&nbsp;&nbsp;&nbsp;679198 |
| Farmland Partners, Inc. | &nbsp;&nbsp;9604 | &nbsp;&nbsp;&nbsp;&nbsp;119666 |
| Four Corners Property Trust, Inc. | 16851 | &nbsp;&nbsp;&nbsp;&nbsp;436946 |
| Franklin Street Properties Corp. | 22306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60895 |
| Getty Realty Corp. | &nbsp;&nbsp;8537 | &nbsp;&nbsp;&nbsp;&nbsp;288977 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;8265 | &nbsp;&nbsp;&nbsp;&nbsp;152903 |
| Gladstone Land Corp. | &nbsp;&nbsp;6871 | &nbsp;&nbsp;&nbsp;&nbsp;126083 |
| Global Medical REIT, Inc. | 12731 | &nbsp;&nbsp;&nbsp;&nbsp;120690 |
| Global Net Lease, Inc. | 21345 | &nbsp;&nbsp;&nbsp;&nbsp;268307 |
| Hersha Hospitality Trust, Class A | &nbsp;&nbsp;7243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61710 |
| Independence Realty Trust, Inc. | 46399 | &nbsp;&nbsp;&nbsp;&nbsp;782287 |
| Indus Realty Trust, Inc. | &nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75109 |
| Industrial Logistics Properties Trust | 15067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49269 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;5748 | &nbsp;&nbsp;&nbsp;&nbsp;582560 |
| InvenTrust Properties Corp. | 13916 | &nbsp;&nbsp;&nbsp;&nbsp;329392 |
| iStar, Inc. | 14438 | &nbsp;&nbsp;&nbsp;&nbsp;110162 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Kite Realty Group Trust | 44964 | $&nbsp;&nbsp;&nbsp;&nbsp;946492 |
| LTC Properties, Inc. | &nbsp;&nbsp;7920 | &nbsp;&nbsp;&nbsp;&nbsp;281398 |
| LXP Industrial Trust | 57866 | &nbsp;&nbsp;&nbsp;&nbsp;579817 |
| National Health Investors, Inc. | &nbsp;&nbsp;8966 | &nbsp;&nbsp;&nbsp;&nbsp;468205 |
| Necessity Retail REIT, Inc. | 28491 | &nbsp;&nbsp;&nbsp;&nbsp;168952 |
| NETSTREIT Corp. | 10827 | &nbsp;&nbsp;&nbsp;&nbsp;198459 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;4719 | &nbsp;&nbsp;&nbsp;&nbsp;205371 |
| Office Properties Income Trust | 10135 | &nbsp;&nbsp;&nbsp;&nbsp;135302 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;3733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82947 |
| Orion Office REIT, Inc. | 12292 | &nbsp;&nbsp;&nbsp;&nbsp;104974 |
| Outfront Media, Inc. | 30259 | &nbsp;&nbsp;&nbsp;&nbsp;501694 |
| Paramount Group, Inc. | 38882 | &nbsp;&nbsp;&nbsp;&nbsp;230959 |
| Pebblebrook Hotel Trust | 26931 | &nbsp;&nbsp;&nbsp;&nbsp;360606 |
| Phillips Edison & Company, Inc. | 24007 | &nbsp;&nbsp;&nbsp;&nbsp;764383 |
| Physicians Realty Trust | 46614 | &nbsp;&nbsp;&nbsp;&nbsp;674505 |
| Piedmont Office Realty Trust, Inc., Class A | 24993 | &nbsp;&nbsp;&nbsp;&nbsp;229186 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;7973 | &nbsp;&nbsp;&nbsp;&nbsp;152922 |
| Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;4161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60459 |
| PotlatchDeltic Corp. | 16459 | &nbsp;&nbsp;&nbsp;&nbsp;724031 |
| Retail Opportunity Investments Corp. | 24907 | &nbsp;&nbsp;&nbsp;&nbsp;374352 |
| RLJ Lodging Trust | 34206 | &nbsp;&nbsp;&nbsp;&nbsp;362242 |
| RPT Realty | 17767 | &nbsp;&nbsp;&nbsp;&nbsp;178381 |
| Ryman Hospitality Properties, Inc. | 11084 | &nbsp;&nbsp;&nbsp;&nbsp;906450 |
| Sabra Health Care REIT, Inc. | 47541 | &nbsp;&nbsp;&nbsp;&nbsp;590935 |
| Safehold, Inc. | &nbsp;&nbsp;5672 | &nbsp;&nbsp;&nbsp;&nbsp;162333 |
| Saul Centers, Inc. | &nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;103897 |
| Service Properties Trust | 35317 | &nbsp;&nbsp;&nbsp;&nbsp;257461 |
| SITE Centers Corp. | 40131 | &nbsp;&nbsp;&nbsp;&nbsp;548189 |
| STAG Industrial, Inc. | 37212 | &nbsp;&nbsp;&nbsp;1202320 |
| Summit Hotel Properties, Inc. | 22638 | &nbsp;&nbsp;&nbsp;&nbsp;163446 |
| Sunstone Hotel Investors, Inc. | 44070 | &nbsp;&nbsp;&nbsp;&nbsp;425716 |
| Tanger Factory Outlet Centers, Inc. | 21021 | &nbsp;&nbsp;&nbsp;&nbsp;377117 |
| Terreno Realty Corp. | 15298 | &nbsp;&nbsp;&nbsp;&nbsp;869997 |
| The Macerich Company | 44668 | &nbsp;&nbsp;&nbsp;&nbsp;502962 |
| UMH Properties, Inc. | 10538 | &nbsp;&nbsp;&nbsp;&nbsp;169662 |
| Uniti Group, Inc. | 49375 | &nbsp;&nbsp;&nbsp;&nbsp;273044 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;127439 |
| Urban Edge Properties | 23433 | &nbsp;&nbsp;&nbsp;&nbsp;330171 |
| Urstadt Biddle Properties, Inc., Class A | &nbsp;&nbsp;6619 | &nbsp;&nbsp;&nbsp;&nbsp;125430 |
| Veris Residential, Inc. (A) | 17911 | &nbsp;&nbsp;&nbsp;&nbsp;285322 |
| Whitestone REIT | 10143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97779 |
| Xenia Hotels & Resorts, Inc. | 23769 | &nbsp;&nbsp;&nbsp;&nbsp;313275 |
|  |  | 27506969 |
| **Real estate management and development – 0.6%** | **Real estate management and development – 0.6%** |  |
| Anywhere Real Estate, Inc. (A) | 23085 | &nbsp;&nbsp;&nbsp;&nbsp;147513 |
| Compass, Inc., Class A (A) | 57556 | &nbsp;&nbsp;&nbsp;&nbsp;134105 |
| Cushman & Wakefield PLC (A) | 32802 | &nbsp;&nbsp;&nbsp;&nbsp;408713 |
| DigitalBridge Group, Inc. | 32960 | &nbsp;&nbsp;&nbsp;&nbsp;360582 |
| Douglas Elliman, Inc. | 16788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68327 |
| eXp World Holdings, Inc. (B) | 14593 | &nbsp;&nbsp;&nbsp;&nbsp;161690 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;3942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60746 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;1489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80198 |
| Kennedy-Wilson Holdings, Inc. | 24435 | &nbsp;&nbsp;&nbsp;&nbsp;384363 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp;176040 |
| Newmark Group, Inc., Class A | 29664 | &nbsp;&nbsp;&nbsp;&nbsp;236422 |
| RE/MAX Holdings, Inc., Class A | &nbsp;&nbsp;3975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74094 |
| Redfin Corp. (A)(B) | 23133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98084 |
| Stratus Properties, Inc. | &nbsp;&nbsp;1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26447 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;4710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88736 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;3410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96333 |
| The St. Joe Company | &nbsp;&nbsp;7060 | &nbsp;&nbsp;&nbsp;&nbsp;272869 |
|  |  | &nbsp;&nbsp;&nbsp;2875262 |
|  |  | 30382231 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 118 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Utilities – 3.4%** |  |  |
| **Electric utilities – 0.7%** | **Electric utilities – 0.7%** |  |
| ALLETE, Inc. | 11824 | $&nbsp;&nbsp;&nbsp;&nbsp;762766 |
| MGE Energy, Inc. | &nbsp;&nbsp;7555 | &nbsp;&nbsp;&nbsp;&nbsp;531872 |
| Otter Tail Corp. | &nbsp;&nbsp;8494 | &nbsp;&nbsp;&nbsp;&nbsp;498683 |
| PNM Resources, Inc. | 17556 | &nbsp;&nbsp;&nbsp;&nbsp;856557 |
| Portland General Electric Company | 18428 | &nbsp;&nbsp;&nbsp;&nbsp;902972 |
|  |  | 3552850 |
| **Gas utilities – 1.2%** | **Gas utilities – 1.2%** |  |
| Brookfield Infrastructure Corp., Class A | 20210 | &nbsp;&nbsp;&nbsp;&nbsp;786169 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;3597 | &nbsp;&nbsp;&nbsp;&nbsp;425093 |
| New Jersey Resources Corp. | 19820 | &nbsp;&nbsp;&nbsp;&nbsp;983468 |
| Northwest Natural Holding Company | &nbsp;&nbsp;7043 | &nbsp;&nbsp;&nbsp;&nbsp;335176 |
| ONE Gas, Inc. | 11048 | &nbsp;&nbsp;&nbsp;&nbsp;836555 |
| South Jersey Industries, Inc. | 25264 | &nbsp;&nbsp;&nbsp;&nbsp;897630 |
| Southwest Gas Holdings, Inc. | 13768 | &nbsp;&nbsp;&nbsp;&nbsp;851964 |
| Spire, Inc. | 10448 | &nbsp;&nbsp;&nbsp;&nbsp;719449 |
|  |  | 5835504 |
| **Independent power and renewable electricity producers –<br> 0.5%** | **Independent power and renewable electricity producers –<br> 0.5%** |  |
| Altus Power, Inc. (A) | &nbsp;&nbsp;9483 | &nbsp;&nbsp;&nbsp;&nbsp;61829 |
| Clearway Energy, Inc., Class A | &nbsp;&nbsp;7939 | &nbsp;&nbsp;&nbsp;&nbsp;237535 |
| Clearway Energy, Inc., Class C | 16405 | &nbsp;&nbsp;&nbsp;&nbsp;522827 |
| Montauk Renewables, Inc. (A)(B) | 13332 | &nbsp;&nbsp;&nbsp;&nbsp;147052 |
| Ormat Technologies, Inc. (B) | 10088 | &nbsp;&nbsp;&nbsp;&nbsp;872410 |
| Sunnova Energy International, Inc. (A) | 20575 | &nbsp;&nbsp;&nbsp;&nbsp;370556 |
|  |  | 2212209 |
| **Multi-utilities – 0.5%** | **Multi-utilities – 0.5%** |  |
| Avista Corp. | 15227 | &nbsp;&nbsp;&nbsp;&nbsp;675165 |
| Black Hills Corp. | 13375 | &nbsp;&nbsp;&nbsp;&nbsp;940798 |
| NorthWestern Corp. | 11964 | &nbsp;&nbsp;&nbsp;&nbsp;709944 |
| Unitil Corp. | &nbsp;&nbsp;3399 | &nbsp;&nbsp;&nbsp;&nbsp;174573 |
|  |  | 2500480 |
| **Water utilities – 0.5%** | **Water utilities – 0.5%** |  |
| American States Water Company | &nbsp;&nbsp;7617 | &nbsp;&nbsp;&nbsp;&nbsp;704953 |
| Artesian Resources Corp., Class A | &nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;&nbsp;123135 |
| California Water Service Group | 11221 | &nbsp;&nbsp;&nbsp;&nbsp;680441 |
| Global Water Resources, Inc. | &nbsp;&nbsp;2565 | &nbsp;&nbsp;&nbsp;&nbsp;34063 |
| Middlesex Water Company | &nbsp;&nbsp;3623 | &nbsp;&nbsp;&nbsp;&nbsp;285021 |
| Pure Cycle Corp. (A) | &nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp;&nbsp;47055 |
| SJW Group | &nbsp;&nbsp;5587 | &nbsp;&nbsp;&nbsp;&nbsp;453609 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Water utilities (continued)** | **Water utilities (continued)** |  |
| The York Water Company | &nbsp;&nbsp;&nbsp;&nbsp;3328 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149693 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2477970 |
|  |  | &nbsp;&nbsp;&nbsp;16579013 |
| TOTAL COMMON STOCKS (Cost $436,343,202) | TOTAL COMMON STOCKS (Cost $436,343,202) | $472776529 |
| **RIGHTS – 0.0%** |  |  |
| PLBY Group, Inc. (A)(B)(D) | &nbsp;&nbsp;&nbsp;&nbsp;7052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL RIGHTS (Cost $0) | TOTAL RIGHTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **WARRANTS – 0.0%** |  |  |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21977 |
| Triumph Group, Inc. (Expiration Date: 12-19-23; Strike Price: $12.35) (A) | &nbsp;&nbsp;&nbsp;&nbsp;4026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697 |
| TOTAL WARRANTS (Cost $0) | TOTAL WARRANTS (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24674 |
| **SHORT-TERM INVESTMENTS – 5.1%** | **SHORT-TERM INVESTMENTS – 5.1%** |  |
| **Short-term funds – 5.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 2484985 | &nbsp;&nbsp;&nbsp;24839413 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $24,833,272) | TOTAL SHORT-TERM INVESTMENTS (Cost $24,833,272) | $&nbsp;&nbsp;&nbsp;24839413 |
| **Total Investments (Small Cap Index Trust)<br> (Cost $461,176,474) – 101.1%** | **Total Investments (Small Cap Index Trust)<br> (Cost $461,176,474) – 101.1%** | $**497640616** |
| **Other assets and liabilities, net – (1.1%)** | **Other assets and liabilities, net – (1.1%)** | &nbsp;&nbsp;&nbsp;**(5181650)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**492458966** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | Strike price and/or expiration date not available. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $5,412,941. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$20667452 | &nbsp;&nbsp;&nbsp;&nbsp;$20011170 | &nbsp;&nbsp;&nbsp;&nbsp;$(656282) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(656282)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 119 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.7%** | **COMMON STOCKS – 98.7%** |  |
| **Communication services – 1.9%** |  |  |
| **Diversified telecommunication services – 0.3%** | **Diversified telecommunication services – 0.3%** |  |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58042 |
| Communications Systems, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Consolidated Communications Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17846 |
| EchoStar Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73892 |
| Frontier Communications Parent, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28920 |
| Liberty Latin America, Ltd., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31656 |
| Liberty Latin America, Ltd., Class C (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86230 |
| Lumen Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117654 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414240 |
| **Entertainment – 0.1%** | **Entertainment – 0.1%** |  |
| FG Group Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2919 |
| Lions Gate Entertainment Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33169 |
| Lions Gate Entertainment Corp., Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50863 |
| Madison Square Garden Entertainment Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78608 |
| Reading International, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41961 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210567 |
| **Interactive media and services – 0.2%** | **Interactive media and services – 0.2%** |  |
| Cars.com, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76823 |
| DHI Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27571 |
| QuinStreet, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27078 |
| TrueCar, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20211 |
| Yelp, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46068 |
| Ziff Davis, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249482 |
| **Media – 1.2%** | **Media – 1.2%** |  |
| AMC Networks, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39833 |
| Beasley Broadcast Group, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 |
| Boston Omaha Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53822 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20644 |
| comScore, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 |
| Cumulus Media, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7409 |
| Daily Journal Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10271 |
| DallasNews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4067 |
| DISH Network Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15556 |
| Entravision Communications Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24360 |
| Fluent, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104 |
| Gannett Company, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25738 |
| Gray Television, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73250 |
| iHeartMedia, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13891 |
| Integral Ad Science Holding Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12974 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95183 |
| Magnite, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44584 |
| News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364200 |
| News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195667 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325381 |
| PubMatic, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20445 |
| Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89811 |
| Sinclair Broadcast Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11601 |
| TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172677 |
| The EW Scripps Company (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77069 |
| Thryv Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53998 |
| Urban One, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773953 |
| **Wireless telecommunication services – 0.1%** | **Wireless telecommunication services – 0.1%** |  |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58168 |
| Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31638 |

---

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Wireless telecommunication services (continued)** | **Wireless telecommunication services (continued)** |  |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;7131 | $&nbsp;&nbsp;&nbsp;&nbsp;74804 |
| United States Cellular Corp. (B) | &nbsp;&nbsp;2963 | &nbsp;&nbsp;&nbsp;&nbsp;61779 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;226389 |
|  |  | 2874631 |
| **Consumer discretionary – 13.9%** |  |  |
| **Auto components – 2.2%** | **Auto components – 2.2%** |  |
| Adient PLC (B) | &nbsp;&nbsp;6695 | &nbsp;&nbsp;&nbsp;&nbsp;232250 |
| American Axle & Manufacturing Holdings, Inc. (B) | &nbsp;&nbsp;9766 | &nbsp;&nbsp;&nbsp;&nbsp;76370 |
| Autoliv, Inc. | &nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;&nbsp;183869 |
| BorgWarner, Inc. | 15544 | &nbsp;&nbsp;&nbsp;&nbsp;625646 |
| Cooper-Standard Holdings, Inc. (B) | &nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;11878 |
| Dana, Inc. | 10994 | &nbsp;&nbsp;&nbsp;&nbsp;166339 |
| Dorman Products, Inc. (B) | &nbsp;&nbsp;5435 | &nbsp;&nbsp;&nbsp;&nbsp;439528 |
| Fox Factory Holding Corp. (B) | &nbsp;&nbsp;9668 | &nbsp;&nbsp;&nbsp;&nbsp;882012 |
| LCI Industries | &nbsp;&nbsp;1051 | &nbsp;&nbsp;&nbsp;&nbsp;97165 |
| Lear Corp. | &nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;141755 |
| Modine Manufacturing Company (B) | &nbsp;&nbsp;4925 | &nbsp;&nbsp;&nbsp;&nbsp;97811 |
| Motorcar Parts of America, Inc. (B) | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;18798 |
| Patrick Industries, Inc. | &nbsp;&nbsp;1685 | &nbsp;&nbsp;&nbsp;&nbsp;102111 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;1901 | &nbsp;&nbsp;&nbsp;&nbsp;66155 |
| Stoneridge, Inc. (B) | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;&nbsp;36048 |
| Strattec Security Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp;18988 |
| The Goodyear Tire & Rubber Company (B) | 19283 | &nbsp;&nbsp;&nbsp;&nbsp;195722 |
|  |  | 3392445 |
| **Automobiles – 0.3%** | **Automobiles – 0.3%** |  |
| Harley-Davidson, Inc. | &nbsp;&nbsp;3482 | &nbsp;&nbsp;&nbsp;&nbsp;144851 |
| Thor Industries, Inc. | &nbsp;&nbsp;2219 | &nbsp;&nbsp;&nbsp;&nbsp;167512 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;116994 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;429357 |
| **Distributors – 0.0%** | **Distributors – 0.0%** |  |
| Funko, Inc., Class A (B) | &nbsp;&nbsp;2763 | &nbsp;&nbsp;&nbsp;&nbsp;30144 |
| Weyco Group, Inc. | &nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;27847 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;57991 |
| **Diversified consumer services – 1.2%** | **Diversified consumer services – 1.2%** |  |
| 2U, Inc. (B) | &nbsp;&nbsp;2844 | &nbsp;&nbsp;&nbsp;&nbsp;17832 |
| ADT, Inc. | 10644 | &nbsp;&nbsp;&nbsp;&nbsp;96541 |
| Adtalem Global Education, Inc. (B) | &nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp;154035 |
| American Public Education, Inc. (B) | &nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp;17821 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp;209661 |
| Grand Canyon Education, Inc. (B) | &nbsp;&nbsp;8959 | &nbsp;&nbsp;&nbsp;&nbsp;946608 |
| Laureate Education, Inc. | &nbsp;&nbsp;7829 | &nbsp;&nbsp;&nbsp;&nbsp;75315 |
| Lincoln Educational Services Corp. (B) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6369 |
| Perdoceo Education Corp. (B) | &nbsp;&nbsp;5378 | &nbsp;&nbsp;&nbsp;&nbsp;74754 |
| Strategic Education, Inc. | &nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;132439 |
| Stride, Inc. (B) | &nbsp;&nbsp;2888 | &nbsp;&nbsp;&nbsp;&nbsp;90337 |
| Universal Technical Institute, Inc. (B) | &nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;20745 |
|  |  | 1842457 |
| **Hotels, restaurants and leisure – 1.4%** | **Hotels, restaurants and leisure – 1.4%** |  |
| Ark Restaurants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060 |
| Biglari Holdings, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067 |
| Biglari Holdings, Inc., Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;14158 |
| BJ's Restaurants, Inc. (B) | &nbsp;&nbsp;1781 | &nbsp;&nbsp;&nbsp;&nbsp;46983 |
| Carrols Restaurant Group, Inc. (B) | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296 |
| Churchill Downs, Inc. | &nbsp;&nbsp;3598 | &nbsp;&nbsp;&nbsp;&nbsp;760725 |
| Chuy's Holdings, Inc. (B) | 22447 | &nbsp;&nbsp;&nbsp;&nbsp;635250 |
| El Pollo Loco Holdings, Inc. | &nbsp;&nbsp;2613 | &nbsp;&nbsp;&nbsp;&nbsp;26025 |
| Fiesta Restaurant Group, Inc. (B) | &nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9908 |
| Krispy Kreme, Inc. | 30620 | &nbsp;&nbsp;&nbsp;&nbsp;315998 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;62719 |
| Monarch Casino & Resort, Inc. (B) | &nbsp;&nbsp;1074 | &nbsp;&nbsp;&nbsp;&nbsp;82580 |
| Penn Entertainment, Inc. (B) | &nbsp;&nbsp;3635 | &nbsp;&nbsp;&nbsp;&nbsp;107960 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 120 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Playa Hotels & Resorts NV (B) | 13271 | $&nbsp;&nbsp;&nbsp;&nbsp;86660 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;36903 |
|  |  | 2191292 |
| **Household durables – 2.7%** | **Household durables – 2.7%** |  |
| Bassett Furniture Industries, Inc. | &nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;&nbsp;21447 |
| Beazer Homes USA, Inc. (B) | &nbsp;&nbsp;3089 | &nbsp;&nbsp;&nbsp;&nbsp;39416 |
| Cavco Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;161316 |
| Century Communities, Inc. | &nbsp;&nbsp;2560 | &nbsp;&nbsp;&nbsp;&nbsp;128026 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;2768 | &nbsp;&nbsp;&nbsp;&nbsp;73131 |
| Flexsteel Industries, Inc. | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;17217 |
| GoPro, Inc., Class A (B) | 10155 | &nbsp;&nbsp;&nbsp;&nbsp;50572 |
| Green Brick Partners, Inc. (B) | &nbsp;&nbsp;2414 | &nbsp;&nbsp;&nbsp;&nbsp;58491 |
| Hooker Furnishings Corp. | &nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;34053 |
| Hovnanian Enterprises, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;292 | &nbsp;&nbsp;&nbsp;&nbsp;12287 |
| iRobot Corp. (B) | &nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;55013 |
| KB Home | &nbsp;&nbsp;6043 | &nbsp;&nbsp;&nbsp;&nbsp;192470 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;3039 | &nbsp;&nbsp;&nbsp;&nbsp;69350 |
| Legacy Housing Corp. (B) | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;22468 |
| LGI Homes, Inc. (B) | &nbsp;&nbsp;1611 | &nbsp;&nbsp;&nbsp;&nbsp;149179 |
| Lifetime Brands, Inc. | &nbsp;&nbsp;2931 | &nbsp;&nbsp;&nbsp;&nbsp;22246 |
| M/I Homes, Inc. (B) | &nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;&nbsp;101365 |
| MDC Holdings, Inc. | &nbsp;&nbsp;5127 | &nbsp;&nbsp;&nbsp;&nbsp;162013 |
| Meritage Homes Corp. (B) | &nbsp;&nbsp;2251 | &nbsp;&nbsp;&nbsp;&nbsp;207542 |
| Mohawk Industries, Inc. (B) | &nbsp;&nbsp;3620 | &nbsp;&nbsp;&nbsp;&nbsp;370036 |
| Newell Brands, Inc. | 15347 | &nbsp;&nbsp;&nbsp;&nbsp;200739 |
| PulteGroup, Inc. | 13332 | &nbsp;&nbsp;&nbsp;&nbsp;607006 |
| Taylor Morrison Home Corp. (B) | &nbsp;&nbsp;7865 | &nbsp;&nbsp;&nbsp;&nbsp;238703 |
| Toll Brothers, Inc. | &nbsp;&nbsp;8961 | &nbsp;&nbsp;&nbsp;&nbsp;447333 |
| TopBuild Corp. (B) | &nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;374950 |
| Tri Pointe Homes, Inc. (B) | &nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;181531 |
| Universal Electronics, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;15503 |
| VOXX International Corp. (B) | &nbsp;&nbsp;3131 | &nbsp;&nbsp;&nbsp;&nbsp;26238 |
| Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;13863 |
|  |  | 4053504 |
| **Internet and direct marketing retail – 0.4%** | **Internet and direct marketing retail – 0.4%** |  |
| 1-800-Flowers.com, Inc., Class A (B) | &nbsp;&nbsp;3196 | &nbsp;&nbsp;&nbsp;&nbsp;30554 |
| Duluth Holdings, Inc., Class B (B) | &nbsp;&nbsp;1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6835 |
| Lands' End, Inc. (B) | &nbsp;&nbsp;2354 | &nbsp;&nbsp;&nbsp;&nbsp;17867 |
| Qurate Retail, Inc., Series A (B) | 22636 | &nbsp;&nbsp;&nbsp;&nbsp;36897 |
| Revolve Group, Inc. (B) | 21940 | &nbsp;&nbsp;&nbsp;&nbsp;488384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;580537 |
| **Leisure products – 0.3%** | **Leisure products – 0.3%** |  |
| Acushnet Holdings Corp. | &nbsp;&nbsp;3459 | &nbsp;&nbsp;&nbsp;&nbsp;146869 |
| American Outdoor Brands, Inc. (B) | &nbsp;&nbsp;1873 | &nbsp;&nbsp;&nbsp;&nbsp;18767 |
| AMMO, Inc. (B) | &nbsp;&nbsp;4648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8041 |
| Escalade, Inc. | &nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;27730 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;50648 |
| Malibu Boats, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;&nbsp;50209 |
| Nautilus, Inc. (B) | &nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;4844 | &nbsp;&nbsp;&nbsp;&nbsp;42046 |
| Solo Brands, Inc., Class A (B) | &nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8742 |
| Topgolf Callaway Brands Corp. (B) | &nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;&nbsp;47420 |
| Vista Outdoor, Inc. (B) | &nbsp;&nbsp;3701 | &nbsp;&nbsp;&nbsp;&nbsp;90193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;493082 |
| **Multiline retail – 0.7%** | **Multiline retail – 0.7%** |  |
| Big Lots, Inc. | &nbsp;&nbsp;2901 | &nbsp;&nbsp;&nbsp;&nbsp;42645 |
| Dillard's, Inc., Class A (C) | &nbsp;&nbsp;1303 | &nbsp;&nbsp;&nbsp;&nbsp;421130 |
| Franchise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;10814 |
| Kohl's Corp. | &nbsp;&nbsp;8128 | &nbsp;&nbsp;&nbsp;&nbsp;205232 |
| Macy's, Inc. | 13806 | &nbsp;&nbsp;&nbsp;&nbsp;285094 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multiline retail (continued)** | **Multiline retail (continued)** |  |
| Ollie's Bargain Outlet Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;334 | $&nbsp;&nbsp;&nbsp;&nbsp;15645 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;980560 |
| **Specialty retail – 3.9%** | **Specialty retail – 3.9%** |  |
| Abercrombie & Fitch Company, Class A (B) | &nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;113863 |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;3772 | &nbsp;&nbsp;&nbsp;&nbsp;198181 |
| American Eagle Outfitters, Inc. (C) | &nbsp;&nbsp;15528 | &nbsp;&nbsp;&nbsp;&nbsp;216771 |
| America's Car-Mart, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;33601 |
| Asbury Automotive Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp;158995 |
| AutoNation, Inc. (B) | &nbsp;&nbsp;&nbsp;5327 | &nbsp;&nbsp;&nbsp;&nbsp;571587 |
| Barnes & Noble Education, Inc. (B) | &nbsp;&nbsp;&nbsp;4024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7042 |
| Big 5 Sporting Goods Corp. (C) | &nbsp;&nbsp;&nbsp;2004 | &nbsp;&nbsp;&nbsp;&nbsp;17695 |
| Boot Barn Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;35886 |
| Build-A-Bear Workshop, Inc. (B) | &nbsp;&nbsp;&nbsp;2470 | &nbsp;&nbsp;&nbsp;&nbsp;58885 |
| Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp;&nbsp;19072 |
| Chico's FAS, Inc. (B) | &nbsp;&nbsp;&nbsp;8871 | &nbsp;&nbsp;&nbsp;&nbsp;43645 |
| Citi Trends, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9718 |
| Conn's, Inc. (B) | &nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp;14978 |
| Designer Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;28587 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp;28388 |
| Five Below, Inc. (B) | &nbsp;&nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;969955 |
| Foot Locker, Inc. (C) | &nbsp;&nbsp;&nbsp;6590 | &nbsp;&nbsp;&nbsp;&nbsp;249036 |
| Genesco, Inc. (B) | &nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;60332 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;1465 | &nbsp;&nbsp;&nbsp;&nbsp;264242 |
| Guess?, Inc. (C) | &nbsp;&nbsp;&nbsp;5350 | &nbsp;&nbsp;&nbsp;&nbsp;110692 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp;1613 | &nbsp;&nbsp;&nbsp;&nbsp;48229 |
| Hibbett, Inc. | &nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp;74906 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;3859 | &nbsp;&nbsp;&nbsp;&nbsp;790092 |
| LL Flooring Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8318 |
| MarineMax, Inc. (B) | &nbsp;&nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp;62940 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;1618 | &nbsp;&nbsp;&nbsp;&nbsp;73134 |
| National Vision Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;32055 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;4213 | &nbsp;&nbsp;&nbsp;&nbsp;484200 |
| Rent-A-Center, Inc. | &nbsp;&nbsp;&nbsp;2379 | &nbsp;&nbsp;&nbsp;&nbsp;53646 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;2304 | &nbsp;&nbsp;&nbsp;&nbsp;55089 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;&nbsp;&nbsp;249900 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;1892 | &nbsp;&nbsp;&nbsp;&nbsp;93219 |
| Sportsman's Warehouse Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;&nbsp;30799 |
| The Aaron's Company, Inc. | &nbsp;&nbsp;&nbsp;1356 | &nbsp;&nbsp;&nbsp;&nbsp;16204 |
| The Cato Corp., Class A | &nbsp;&nbsp;&nbsp;1957 | &nbsp;&nbsp;&nbsp;&nbsp;18259 |
| The Children's Place, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;33871 |
| The Container Store Group, Inc. (B) | &nbsp;&nbsp;&nbsp;3997 | &nbsp;&nbsp;&nbsp;&nbsp;17227 |
| The Gap, Inc. | &nbsp;&nbsp;18158 | &nbsp;&nbsp;&nbsp;&nbsp;204822 |
| The ODP Corp. (B) | &nbsp;&nbsp;&nbsp;3276 | &nbsp;&nbsp;&nbsp;&nbsp;149189 |
| Tilly's, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6444 |
| Urban Outfitters, Inc. (B) | &nbsp;&nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp;154405 |
| Zumiez, Inc. (B) | &nbsp;&nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;39610 |
|  |  | 5907709 |
| **Textiles, apparel and luxury goods – 0.8%** | **Textiles, apparel and luxury goods – 0.8%** |  |
| Capri Holdings, Ltd. (B) | &nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp;119799 |
| Culp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533 |
| Delta Apparel, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305 |
| Fossil Group, Inc. (B) | &nbsp;&nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;13926 |
| G-III Apparel Group, Ltd. (B) | &nbsp;&nbsp;&nbsp;3404 | &nbsp;&nbsp;&nbsp;&nbsp;46669 |
| Lakeland Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;14763 |
| Movado Group, Inc. | &nbsp;&nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;56696 |
| Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp;506899 |
| Peace Mark Holdings, Ltd. (A)(B) | 464000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| PVH Corp. | &nbsp;&nbsp;&nbsp;3840 | &nbsp;&nbsp;&nbsp;&nbsp;271066 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;19972 |
| Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;18943 |
| Skechers USA, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;50046 |
| Steven Madden, Ltd. | &nbsp;&nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;46662 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6670 |
| Unifi, Inc. (B) | &nbsp;&nbsp;&nbsp;2453 | &nbsp;&nbsp;&nbsp;&nbsp;21120 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 121 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Textiles, apparel and luxury goods (continued)** | **Textiles, apparel and luxury goods (continued)** |  |
| Vera Bradley, Inc. (B) | &nbsp;&nbsp;2034 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9214 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp;3251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35533 |
|  |  | &nbsp;&nbsp;&nbsp;1244816 |
|  |  | 21173750 |
| **Consumer staples – 3.6%** |  |  |
| **Beverages – 0.4%** | **Beverages – 0.4%** |  |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60743 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;8585 | &nbsp;&nbsp;&nbsp;&nbsp;442299 |
| The Duckhorn Portfolio, Inc. (B) | &nbsp;&nbsp;4647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;580043 |
| **Food and staples retailing – 1.4%** | **Food and staples retailing – 1.4%** |  |
| Grocery Outlet Holding Corp. (B) | &nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48455 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;1365 | &nbsp;&nbsp;&nbsp;&nbsp;131668 |
| Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9268 |
| Performance Food Group Company (B) | 13763 | &nbsp;&nbsp;&nbsp;&nbsp;803622 |
| PriceSmart, Inc. | &nbsp;&nbsp;4975 | &nbsp;&nbsp;&nbsp;&nbsp;302381 |
| SpartanNash Company | &nbsp;&nbsp;3523 | &nbsp;&nbsp;&nbsp;&nbsp;106536 |
| Sprouts Farmers Market, Inc. (B) | &nbsp;&nbsp;4052 | &nbsp;&nbsp;&nbsp;&nbsp;131163 |
| The Andersons, Inc. | &nbsp;&nbsp;3384 | &nbsp;&nbsp;&nbsp;&nbsp;118406 |
| U.S. Foods Holding Corp. (B) | &nbsp;&nbsp;5723 | &nbsp;&nbsp;&nbsp;&nbsp;194696 |
| United Natural Foods, Inc. (B) | &nbsp;&nbsp;4429 | &nbsp;&nbsp;&nbsp;&nbsp;171447 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15954 |
| Weis Markets, Inc. | &nbsp;&nbsp;2371 | &nbsp;&nbsp;&nbsp;&nbsp;195110 |
|  |  | &nbsp;&nbsp;&nbsp;2228706 |
| **Food products – 1.3%** | **Food products – 1.3%** |  |
| Alico, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15516 |
| B&G Foods, Inc. (C) | &nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21642 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9908 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;3993 | &nbsp;&nbsp;&nbsp;&nbsp;217419 |
| Farmer Brothers Company (B) | &nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;3959 | &nbsp;&nbsp;&nbsp;&nbsp;103686 |
| Hostess Brands, Inc. (B) | &nbsp;&nbsp;8707 | &nbsp;&nbsp;&nbsp;&nbsp;195385 |
| Ingredion, Inc. | &nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp;283801 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38925 |
| Lifecore Biomedical, Inc. (B) | &nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20282 |
| Limoneira Company | &nbsp;&nbsp;2147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26215 |
| Pilgrim's Pride Corp. (B) | &nbsp;&nbsp;2893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68651 |
| Post Holdings, Inc. (B) | &nbsp;&nbsp;3244 | &nbsp;&nbsp;&nbsp;&nbsp;292803 |
| Seaboard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;196311 |
| Seneca Foods Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55343 |
| The Hain Celestial Group, Inc. (B) | &nbsp;&nbsp;4728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76499 |
| The Simply Good Foods Company (B) | &nbsp;&nbsp;2852 | &nbsp;&nbsp;&nbsp;&nbsp;108462 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60237 |
| TreeHouse Foods, Inc. (B) | &nbsp;&nbsp;3311 | &nbsp;&nbsp;&nbsp;&nbsp;163497 |
| Whole Earth Brands, Inc. (B) | &nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6512 |
|  |  | &nbsp;&nbsp;&nbsp;1966022 |
| **Household products – 0.2%** | **Household products – 0.2%** |  |
| Central Garden & Pet Company (B) | &nbsp;&nbsp;1553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58160 |
| Central Garden & Pet Company, Class A (B) | &nbsp;&nbsp;3288 | &nbsp;&nbsp;&nbsp;&nbsp;117710 |
| Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17810 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;102224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;295904 |
| **Personal products – 0.2%** | **Personal products – 0.2%** |  |
| BellRing Brands, Inc. (B) | &nbsp;&nbsp;4416 | &nbsp;&nbsp;&nbsp;&nbsp;113226 |
| Edgewell Personal Care Company | &nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp;148186 |
| Natural Alternatives International, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 |
| Nature's Sunshine Products, Inc. (B) | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9302 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89843 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Personal products (continued)** | **Personal products (continued)** |  |
| The Honest Company, Inc. (B) | &nbsp;&nbsp;4669 | $&nbsp;&nbsp;&nbsp;&nbsp;14054 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;376289 |
| **Tobacco – 0.1%** | **Tobacco – 0.1%** |  |
| Universal Corp. | &nbsp;&nbsp;1975 | &nbsp;&nbsp;&nbsp;&nbsp;104300 |
|  |  | 5551264 |
| **Energy – 7.5%** |  |  |
| **Energy equipment and services – 2.0%** | **Energy equipment and services – 2.0%** |  |
| Archrock, Inc. | 10702 | &nbsp;&nbsp;&nbsp;&nbsp;96104 |
| Bristow Group, Inc. (B) | &nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp;44629 |
| ChampionX Corp. | 26464 | &nbsp;&nbsp;&nbsp;&nbsp;767191 |
| Dril-Quip, Inc. (B) | &nbsp;&nbsp;2386 | &nbsp;&nbsp;&nbsp;&nbsp;64828 |
| Expro Group Holdings NV (B) | &nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;28772 |
| Geospace Technologies Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178 |
| Gulf Island Fabrication, Inc. (B) | &nbsp;&nbsp;3019 | &nbsp;&nbsp;&nbsp;&nbsp;15487 |
| Helix Energy Solutions Group, Inc. (B) | 12029 | &nbsp;&nbsp;&nbsp;&nbsp;88774 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;4826 | &nbsp;&nbsp;&nbsp;&nbsp;239225 |
| Liberty Energy, Inc. | &nbsp;&nbsp;9594 | &nbsp;&nbsp;&nbsp;&nbsp;153600 |
| Nabors Industries, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;82081 |
| National Energy Services Reunited Corp. (B) | &nbsp;&nbsp;6084 | &nbsp;&nbsp;&nbsp;&nbsp;42223 |
| Natural Gas Services Group, Inc. (B) | &nbsp;&nbsp;2620 | &nbsp;&nbsp;&nbsp;&nbsp;30025 |
| Newpark Resources, Inc. (B) | &nbsp;&nbsp;6750 | &nbsp;&nbsp;&nbsp;&nbsp;28013 |
| Noble Corp. PLC (B) | &nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp;61769 |
| NOV, Inc. | &nbsp;&nbsp;5807 | &nbsp;&nbsp;&nbsp;&nbsp;121308 |
| Oceaneering International, Inc. (B) | &nbsp;&nbsp;5817 | &nbsp;&nbsp;&nbsp;&nbsp;101739 |
| Oil States International, Inc. (B) | &nbsp;&nbsp;4041 | &nbsp;&nbsp;&nbsp;&nbsp;30146 |
| Patterson-UTI Energy, Inc. | 12012 | &nbsp;&nbsp;&nbsp;&nbsp;202282 |
| ProPetro Holding Corp. (B) | &nbsp;&nbsp;7061 | &nbsp;&nbsp;&nbsp;&nbsp;73223 |
| RPC, Inc. | 11346 | &nbsp;&nbsp;&nbsp;&nbsp;100866 |
| SEACOR Marine Holdings, Inc. (B) | &nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp;22277 |
| Select Energy Services, Inc., Class A | &nbsp;&nbsp;7658 | &nbsp;&nbsp;&nbsp;&nbsp;70760 |
| Solaris Oilfield Infrastructure, Inc., Class A | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;10923 |
| TechnipFMC PLC (B) | 24797 | &nbsp;&nbsp;&nbsp;&nbsp;302275 |
| Tidewater, Inc. (B) | &nbsp;&nbsp;2791 | &nbsp;&nbsp;&nbsp;&nbsp;102848 |
| Transocean, Ltd. (B)(C) | 24908 | &nbsp;&nbsp;&nbsp;&nbsp;113580 |
| U.S. Silica Holdings, Inc. (B) | &nbsp;&nbsp;7085 | &nbsp;&nbsp;&nbsp;&nbsp;88563 |
|  |  | 3085689 |
| **Oil, gas and consumable fuels – 5.5%** | **Oil, gas and consumable fuels – 5.5%** |  |
| Adams Resources & Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp;28178 |
| Alto Ingredients, Inc. (B) | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9504 |
| Antero Midstream Corp. | 10614 | &nbsp;&nbsp;&nbsp;&nbsp;114525 |
| Antero Resources Corp. (B) | 13015 | &nbsp;&nbsp;&nbsp;&nbsp;403335 |
| Ardmore Shipping Corp. (B) | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;32163 |
| Berry Corp. | &nbsp;&nbsp;5062 | &nbsp;&nbsp;&nbsp;&nbsp;40496 |
| California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;21624 |
| Callon Petroleum Company (B) | &nbsp;&nbsp;5090 | &nbsp;&nbsp;&nbsp;&nbsp;188788 |
| Chord Energy Corp. | &nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;214244 |
| Civitas Resources, Inc. | &nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp;103231 |
| Clean Energy Fuels Corp. (B) | 13796 | &nbsp;&nbsp;&nbsp;&nbsp;71739 |
| CNX Resources Corp. (B) | 15258 | &nbsp;&nbsp;&nbsp;&nbsp;256945 |
| Comstock Resources, Inc. | &nbsp;&nbsp;6135 | &nbsp;&nbsp;&nbsp;&nbsp;84111 |
| CONSOL Energy, Inc. | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;240500 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;5312 | &nbsp;&nbsp;&nbsp;&nbsp;143424 |
| DHT Holdings, Inc. | 13057 | &nbsp;&nbsp;&nbsp;&nbsp;115946 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;64752 |
| DT Midstream, Inc. | &nbsp;&nbsp;2928 | &nbsp;&nbsp;&nbsp;&nbsp;161801 |
| Earthstone Energy, Inc., Class A (B) | 48103 | &nbsp;&nbsp;&nbsp;&nbsp;684506 |
| EnLink Midstream LLC (B) | &nbsp;&nbsp;9223 | &nbsp;&nbsp;&nbsp;&nbsp;113443 |
| Equitrans Midstream Corp. | 15655 | &nbsp;&nbsp;&nbsp;&nbsp;104889 |
| Green Plains, Inc. (B) | &nbsp;&nbsp;3377 | &nbsp;&nbsp;&nbsp;&nbsp;102999 |
| Hallador Energy Company (B) | &nbsp;&nbsp;1635 | &nbsp;&nbsp;&nbsp;&nbsp;16334 |
| HF Sinclair Corp. | &nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;456632 |
| International Seaways, Inc. | &nbsp;&nbsp;3851 | &nbsp;&nbsp;&nbsp;&nbsp;142564 |
| Magnolia Oil & Gas Corp., Class A | 29903 | &nbsp;&nbsp;&nbsp;&nbsp;701225 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 122 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Matador Resources Company | 17819 | $&nbsp;&nbsp;&nbsp;1019960 |
| Murphy Oil Corp. | 10625 | &nbsp;&nbsp;&nbsp;&nbsp;456981 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26600 |
| Nordic American Tankers, Ltd. | &nbsp;&nbsp;2259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6913 |
| Overseas Shipholding Group, Inc., Class A (B) | &nbsp;&nbsp;5561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16071 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;8576 | &nbsp;&nbsp;&nbsp;&nbsp;349729 |
| PDC Energy, Inc. | &nbsp;&nbsp;6240 | &nbsp;&nbsp;&nbsp;&nbsp;396115 |
| Peabody Energy Corp. (B) | &nbsp;&nbsp;9665 | &nbsp;&nbsp;&nbsp;&nbsp;255349 |
| Permian Resources Corp. | 13015 | &nbsp;&nbsp;&nbsp;&nbsp;122341 |
| PHX Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167 |
| Range Resources Corp. | &nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48564 |
| REX American Resources Corp. (B) | &nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41004 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14450 |
| SandRidge Energy, Inc. (B) | &nbsp;&nbsp;1746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29734 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp;217661 |
| SFL Corp., Ltd. | 10526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97050 |
| SilverBow Resources, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9163 |
| Sitio Royalties Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26378 |
| SM Energy Company | &nbsp;&nbsp;5199 | &nbsp;&nbsp;&nbsp;&nbsp;181081 |
| Talos Energy, Inc. (B) | &nbsp;&nbsp;5877 | &nbsp;&nbsp;&nbsp;&nbsp;110958 |
| Teekay Corp. (B) | &nbsp;&nbsp;5602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25433 |
| Teekay Tankers, Ltd., Class A (B) | &nbsp;&nbsp;2780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85652 |
| World Fuel Services Corp. | &nbsp;&nbsp;4219 | &nbsp;&nbsp;&nbsp;&nbsp;115305 |
|  |  | &nbsp;&nbsp;&nbsp;8272557 |
|  |  | 11358246 |
| **Financials – 21.5%** |  |  |
| **Banks – 12.9%** | **Banks – 12.9%** |  |
| 1st Source Corp. | &nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp;111064 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15685 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;2221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51172 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74347 |
| American National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36598 |
| Ameris Bancorp | 18005 | &nbsp;&nbsp;&nbsp;&nbsp;848756 |
| Ames National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11805 |
| Arrow Financial Corp. | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37866 |
| Associated Banc-Corp. | 14499 | &nbsp;&nbsp;&nbsp;&nbsp;334782 |
| Atlantic Union Bankshares Corp. | 15963 | &nbsp;&nbsp;&nbsp;&nbsp;560940 |
| Banc of California, Inc. | &nbsp;&nbsp;5646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89941 |
| Bank of Marin Bancorp | &nbsp;&nbsp;1851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60861 |
| Bank OZK | &nbsp;&nbsp;8504 | &nbsp;&nbsp;&nbsp;&nbsp;340670 |
| BankFinancial Corp. | &nbsp;&nbsp;2146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22597 |
| BankUnited, Inc. | &nbsp;&nbsp;7029 | &nbsp;&nbsp;&nbsp;&nbsp;238775 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11772 |
| Banner Corp. | &nbsp;&nbsp;3379 | &nbsp;&nbsp;&nbsp;&nbsp;213553 |
| Bar Harbor Bankshares | &nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54148 |
| BayCom Corp. | &nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21353 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;1477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26571 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;4838 | &nbsp;&nbsp;&nbsp;&nbsp;144656 |
| Blue Ridge Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8518 |
| BOK Financial Corp. | &nbsp;&nbsp;2998 | &nbsp;&nbsp;&nbsp;&nbsp;311162 |
| Brookline Bancorp, Inc. | &nbsp;&nbsp;6310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89287 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30155 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;3345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76835 |
| C&F Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36535 |
| Cadence Bank | &nbsp;&nbsp;9812 | &nbsp;&nbsp;&nbsp;&nbsp;241964 |
| Cambridge Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10050 |
| Camden National Corp. | &nbsp;&nbsp;1722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71790 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60613 |
| Capstar Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17166 |
| Carter Bankshares, Inc. (B) | &nbsp;&nbsp;1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24785 |
| Cathay General Bancorp | &nbsp;&nbsp;5596 | &nbsp;&nbsp;&nbsp;&nbsp;228261 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49889 |
| Central Valley Community Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12708 |
| Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33164 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;960 | $&nbsp;&nbsp;&nbsp;21946 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;24519 |
| CNB Financial Corp. | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;37160 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;&nbsp;12170 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;5930 | 178671 |
| Comerica, Inc. | &nbsp;&nbsp;3415 | 228293 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;1347 | &nbsp;&nbsp;&nbsp;61868 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;2683 | &nbsp;&nbsp;&nbsp;64955 |
| CrossFirst Bankshares, Inc. (B) | &nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;37888 |
| Customers Bancorp, Inc. (B) | &nbsp;&nbsp;2568 | &nbsp;&nbsp;&nbsp;72777 |
| CVB Financial Corp. | &nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;34943 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;3390 | 107904 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;2765 | 121854 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;1815 | &nbsp;&nbsp;&nbsp;31309 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;8684 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;2420 | 118483 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;47110 |
| Evans Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;14208 |
| Farmers National Banc Corp. | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;26334 |
| FB Financial Corp. | &nbsp;&nbsp;1789 | &nbsp;&nbsp;&nbsp;64654 |
| Financial Institutions, Inc. | &nbsp;&nbsp;1481 | &nbsp;&nbsp;&nbsp;36077 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;2905 | 124450 |
| First BanCorp (Puerto Rico) | 14979 | 190533 |
| First Bank | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;12384 |
| First Busey Corp. | &nbsp;&nbsp;4369 | 108002 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;49927 |
| First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;299 | 226750 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp;8341 | 116524 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;2201 | &nbsp;&nbsp;&nbsp;74614 |
| First Financial Bancorp | &nbsp;&nbsp;7516 | 182113 |
| First Financial Corp. | &nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;65987 |
| First Financial Northwest, Inc. | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;16478 |
| First Foundation, Inc. | &nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;62665 |
| First Hawaiian, Inc. | &nbsp;&nbsp;9183 | 239125 |
| First Horizon Corp. | 25469 | 623991 |
| First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;18866 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;4489 | 173500 |
| First Merchants Corp. | &nbsp;&nbsp;4369 | 179610 |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;50366 |
| First Northwest Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;12288 |
| First Western Financial, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;11851 |
| Flushing Financial Corp. | &nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;56609 |
| FNB Corp. | 16986 | 221667 |
| Fulton Financial Corp. | 12592 | 211923 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;28162 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;66450 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;10150 |
| Hancock Whitney Corp. | &nbsp;&nbsp;7556 | 365635 |
| Hanmi Financial Corp. | &nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;76280 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;4217 | &nbsp;&nbsp;&nbsp;58616 |
| Heartland Financial USA, Inc. | &nbsp;&nbsp;2917 | 135991 |
| Heritage Commerce Corp. | &nbsp;&nbsp;5322 | &nbsp;&nbsp;&nbsp;69186 |
| Heritage Financial Corp. | &nbsp;&nbsp;2815 | &nbsp;&nbsp;&nbsp;86252 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;4528 | 135885 |
| HomeStreet, Inc. | &nbsp;&nbsp;1802 | &nbsp;&nbsp;&nbsp;49699 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;13535 |
| Hope Bancorp, Inc. | 10431 | 133621 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;3849 | &nbsp;&nbsp;&nbsp;58043 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;2387 | 201534 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;43200 |
| Independent Bank Group, Inc. | &nbsp;&nbsp;2888 | 173511 |
| International Bancshares Corp. | &nbsp;&nbsp;4680 | 214157 |
| Investar Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;10765 |
| Lakeland Bancorp, Inc. | &nbsp;&nbsp;5402 | &nbsp;&nbsp;&nbsp;95129 |
| LCNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;10800 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 123 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Macatawa Bank Corp. | &nbsp;&nbsp;5091 | $&nbsp;&nbsp;&nbsp;56154 |
| Mercantile Bank Corp. | &nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;55778 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;13778 |
| Metropolitan Bank Holding Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp;&nbsp;44707 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;35844 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;1553 | &nbsp;&nbsp;&nbsp;41341 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;42640 |
| MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;6606 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;1336 | &nbsp;&nbsp;&nbsp;56206 |
| National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;25067 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;2964 | 128697 |
| Nicolet Bankshares, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;56731 |
| Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;32417 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;35307 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp;9669 | 135173 |
| Norwood Financial Corp. | &nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;39727 |
| OceanFirst Financial Corp. | &nbsp;&nbsp;5012 | 106505 |
| OFG Bancorp | &nbsp;&nbsp;4124 | 113657 |
| Old National Bancorp | 18139 | 326139 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;2721 | &nbsp;&nbsp;&nbsp;43645 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;1486 | &nbsp;&nbsp;&nbsp;54536 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;11580 |
| Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;6740 | 212714 |
| PacWest Bancorp | &nbsp;&nbsp;8040 | 184518 |
| Pathward Financial, Inc. | &nbsp;&nbsp;2595 | 111715 |
| PCB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;14789 |
| PCSB Financial Corp. | &nbsp;&nbsp;1342 | &nbsp;&nbsp;&nbsp;25552 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;60483 |
| Penns Woods Bancorp, Inc. | &nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;31625 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;81445 |
| Pinnacle Financial Partners, Inc. | 11078 | 813125 |
| Popular, Inc. | &nbsp;&nbsp;5455 | 361776 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;28953 |
| Premier Financial Corp. | &nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;66535 |
| Primis Financial Corp. | &nbsp;&nbsp;3850 | &nbsp;&nbsp;&nbsp;45623 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;5378 | 390873 |
| QCR Holdings, Inc. | &nbsp;&nbsp;1449 | &nbsp;&nbsp;&nbsp;71928 |
| RBB Bancorp | &nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;22414 |
| Renasant Corp. | &nbsp;&nbsp;3529 | 132655 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;1449 | &nbsp;&nbsp;&nbsp;59293 |
| Republic First Bancorp, Inc. (B) | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;5805 |
| Riverview Bancorp, Inc. | &nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;30144 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;3436 | 117442 |
| Sandy Spring Bancorp, Inc. | &nbsp;&nbsp;3344 | 117809 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;54676 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;2225 | &nbsp;&nbsp;&nbsp;38782 |
| Sierra Bancorp | &nbsp;&nbsp;1759 | &nbsp;&nbsp;&nbsp;37361 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;7407 | 159843 |
| SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;24365 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;12196 |
| Southern First Bancshares, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;24568 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;13460 |
| SouthState Corp. | &nbsp;&nbsp;2903 | 221673 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;3959 | 116632 |
| Synovus Financial Corp. | &nbsp;&nbsp;3170 | 119034 |
| Texas Capital Bancshares, Inc. (B) | &nbsp;&nbsp;3434 | 207105 |
| The Community Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;11970 |
| The First Bancorp, Inc. | &nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;39401 |
| The First Bancshares, Inc. | &nbsp;&nbsp;1916 | &nbsp;&nbsp;&nbsp;61331 |
| The First of Long Island Corp. | &nbsp;&nbsp;2386 | &nbsp;&nbsp;&nbsp;42948 |
| Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;20791 |
| Towne Bank | &nbsp;&nbsp;4917 | 151640 |
| TriCo Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;36764 |
| Triumph Financial, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;26390 |
| Trustmark Corp. | &nbsp;&nbsp;4932 | 172176 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;504 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42094 |
| Umpqua Holdings Corp. | 10662 | &nbsp;&nbsp;&nbsp;&nbsp;190317 |
| United Bankshares, Inc. | &nbsp;&nbsp;7106 | &nbsp;&nbsp;&nbsp;&nbsp;287722 |
| United Community Banks, Inc. | &nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp;157643 |
| Univest Financial Corp. | &nbsp;&nbsp;2739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71570 |
| Valley National Bancorp | 24313 | &nbsp;&nbsp;&nbsp;&nbsp;274980 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;3741 | &nbsp;&nbsp;&nbsp;&nbsp;105047 |
| Washington Federal, Inc. | &nbsp;&nbsp;4842 | &nbsp;&nbsp;&nbsp;&nbsp;162449 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48831 |
| Webster Financial Corp. | &nbsp;&nbsp;7167 | &nbsp;&nbsp;&nbsp;&nbsp;339286 |
| WesBanco, Inc. | &nbsp;&nbsp;5027 | &nbsp;&nbsp;&nbsp;&nbsp;185898 |
| Wintrust Financial Corp. | &nbsp;&nbsp;3040 | &nbsp;&nbsp;&nbsp;&nbsp;256941 |
| Zions Bancorp NA | &nbsp;&nbsp;7487 | &nbsp;&nbsp;&nbsp;&nbsp;368061 |
|  |  | 19562821 |
| **Capital markets – 2.0%** | **Capital markets – 2.0%** |  |
| Blucora, Inc. (B) | &nbsp;&nbsp;2434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62140 |
| Cowen, Inc., Class A | &nbsp;&nbsp;2484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95932 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;7641 | &nbsp;&nbsp;&nbsp;&nbsp;665990 |
| Invesco, Ltd. | 24463 | &nbsp;&nbsp;&nbsp;&nbsp;440089 |
| Janus Henderson Group PLC | &nbsp;&nbsp;7859 | &nbsp;&nbsp;&nbsp;&nbsp;184844 |
| Jefferies Financial Group, Inc. | 11412 | &nbsp;&nbsp;&nbsp;&nbsp;391203 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;1674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70860 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;7013 | &nbsp;&nbsp;&nbsp;&nbsp;516788 |
| Stifel Financial Corp. | &nbsp;&nbsp;8806 | &nbsp;&nbsp;&nbsp;&nbsp;514006 |
| StoneX Group, Inc. (B) | &nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;&nbsp;117696 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;1134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33839 |
|  |  | &nbsp;&nbsp;&nbsp;3093387 |
| **Consumer finance – 1.0%** | **Consumer finance – 1.0%** |  |
| Ally Financial, Inc. | 13504 | &nbsp;&nbsp;&nbsp;&nbsp;330173 |
| Atlanticus Holdings Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13231 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;4266 | &nbsp;&nbsp;&nbsp;&nbsp;160658 |
| Consumer Portfolio Services, Inc. (B) | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9434 |
| Encore Capital Group, Inc. (B) | &nbsp;&nbsp;1949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93435 |
| Enova International, Inc. (B) | &nbsp;&nbsp;2224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85335 |
| EZCORP, Inc., Class A (B) | &nbsp;&nbsp;4801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39128 |
| Green Dot Corp., Class A (B) | &nbsp;&nbsp;3440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54421 |
| LendingClub Corp. (B) | &nbsp;&nbsp;7056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62093 |
| Navient Corp. | 15325 | &nbsp;&nbsp;&nbsp;&nbsp;252096 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;2648 | &nbsp;&nbsp;&nbsp;&nbsp;240306 |
| Nicholas Financial, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 |
| OneMain Holdings, Inc. | &nbsp;&nbsp;1639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54595 |
| PRA Group, Inc. (B) | &nbsp;&nbsp;3071 | &nbsp;&nbsp;&nbsp;&nbsp;103738 |
| PROG Holdings, Inc. (B) | &nbsp;&nbsp;2293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38729 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16090 |
|  |  | &nbsp;&nbsp;&nbsp;1553935 |
| **Diversified financial services – 0.5%** | **Diversified financial services – 0.5%** |  |
| Acacia Research Corp. (B) | &nbsp;&nbsp;2172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9144 |
| Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21108 |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23755 |
| California First Leasing Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14212 |
| Cannae Holdings, Inc. (B) | &nbsp;&nbsp;7237 | &nbsp;&nbsp;&nbsp;&nbsp;149444 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;3732 | &nbsp;&nbsp;&nbsp;&nbsp;129836 |
| Voya Financial, Inc. | &nbsp;&nbsp;5033 | &nbsp;&nbsp;&nbsp;&nbsp;309479 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;656978 |
| **Insurance – 3.6%** | **Insurance – 3.6%** |  |
| Ambac Financial Group, Inc. (B) | &nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44472 |
| American Equity Investment Life Holding Company | &nbsp;&nbsp;7384 | &nbsp;&nbsp;&nbsp;&nbsp;336858 |
| Argo Group International Holdings, Ltd. | &nbsp;&nbsp;2597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67132 |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;5779 | &nbsp;&nbsp;&nbsp;&nbsp;359801 |
| Axis Capital Holdings, Ltd. | &nbsp;&nbsp;4518 | &nbsp;&nbsp;&nbsp;&nbsp;244740 |
| Brighthouse Financial, Inc. (B) | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;266604 |
| CNA Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38855 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;7507 | &nbsp;&nbsp;&nbsp;&nbsp;171535 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 124 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;2876 | $&nbsp;&nbsp;&nbsp;&nbsp;40839 |
| Employers Holdings, Inc. | &nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;98466 |
| Enstar Group, Ltd. (B) | &nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;251834 |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;&nbsp;223276 |
| F&G Annuities & Life, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3842 |
| Fidelity National Financial, Inc. | &nbsp;&nbsp;2837 | &nbsp;&nbsp;&nbsp;&nbsp;106728 |
| First American Financial Corp. | &nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;197374 |
| Genworth Financial, Inc., Class A (B) | 34509 | &nbsp;&nbsp;&nbsp;&nbsp;182553 |
| Global Indemnity Group LLC, Class A | &nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;&nbsp;26200 |
| Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;82456 |
| Greenlight Capital Re, Ltd., Class A (B) | &nbsp;&nbsp;2616 | &nbsp;&nbsp;&nbsp;&nbsp;21320 |
| Hallmark Financial Services, Inc. (B) | &nbsp;&nbsp;4008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341 |
| Heritage Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;3303 | &nbsp;&nbsp;&nbsp;&nbsp;123433 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;27887 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp;45103 |
| Kemper Corp. | &nbsp;&nbsp;4317 | &nbsp;&nbsp;&nbsp;&nbsp;212396 |
| Lincoln National Corp. | &nbsp;&nbsp;8493 | &nbsp;&nbsp;&nbsp;&nbsp;260905 |
| MBIA, Inc. (B) | &nbsp;&nbsp;1892 | &nbsp;&nbsp;&nbsp;&nbsp;24312 |
| Mercury General Corp. | &nbsp;&nbsp;3607 | &nbsp;&nbsp;&nbsp;&nbsp;123359 |
| National Western Life Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;62101 |
| Old Republic International Corp. | 15344 | &nbsp;&nbsp;&nbsp;&nbsp;370558 |
| Oscar Health, Inc., Class A (B) | &nbsp;&nbsp;6663 | &nbsp;&nbsp;&nbsp;&nbsp;16391 |
| ProAssurance Corp. | &nbsp;&nbsp;4655 | &nbsp;&nbsp;&nbsp;&nbsp;81323 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;2453 | &nbsp;&nbsp;&nbsp;&nbsp;348547 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;51567 |
| SiriusPoint, Ltd. (B) | 10334 | &nbsp;&nbsp;&nbsp;&nbsp;60971 |
| Stewart Information Services Corp. | &nbsp;&nbsp;1817 | &nbsp;&nbsp;&nbsp;&nbsp;77640 |
| Tiptree, Inc. | &nbsp;&nbsp;3689 | &nbsp;&nbsp;&nbsp;&nbsp;51056 |
| United Fire Group, Inc. | &nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;51902 |
| United Insurance Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;3287 | &nbsp;&nbsp;&nbsp;&nbsp;34809 |
| Unum Group | 10883 | &nbsp;&nbsp;&nbsp;&nbsp;446529 |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;289938 |
|  |  | 5529285 |
| **Thrifts and mortgage finance – 1.5%** | **Thrifts and mortgage finance – 1.5%** |  |
| Axos Financial, Inc. (B) | &nbsp;&nbsp;2183 | &nbsp;&nbsp;&nbsp;&nbsp;83434 |
| Blue Foundry Bancorp (B) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;11719 |
| Bridgewater Bancshares, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp;&nbsp;&nbsp;14157 |
| Capitol Federal Financial, Inc. | 11378 | &nbsp;&nbsp;&nbsp;&nbsp;98420 |
| ESSA Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;18720 |
| Essent Group, Ltd. | &nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp;40474 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;66950 |
| FS Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;13376 |
| Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;36107 |
| Kearny Financial Corp. | &nbsp;&nbsp;6261 | &nbsp;&nbsp;&nbsp;&nbsp;63549 |
| Luther Burbank Corp. | &nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;18820 |
| Merchants Bancorp | &nbsp;&nbsp;1376 | &nbsp;&nbsp;&nbsp;&nbsp;33464 |
| MGIC Investment Corp. | &nbsp;&nbsp;9993 | &nbsp;&nbsp;&nbsp;&nbsp;129909 |
| Mr. Cooper Group, Inc. (B) | &nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;123881 |
| New York Community Bancorp, Inc. (C) | 39746 | &nbsp;&nbsp;&nbsp;&nbsp;341816 |
| NMI Holdings, Inc., Class A (B) | &nbsp;&nbsp;5822 | &nbsp;&nbsp;&nbsp;&nbsp;121680 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;4119 | &nbsp;&nbsp;&nbsp;&nbsp;64792 |
| Ocwen Financial Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9633 |
| OP Bancorp | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;11160 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;3525 | &nbsp;&nbsp;&nbsp;&nbsp;199727 |
| Provident Financial Holdings, Inc. | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;24483 |
| Provident Financial Services, Inc. | &nbsp;&nbsp;5205 | &nbsp;&nbsp;&nbsp;&nbsp;111179 |
| Radian Group, Inc. | 10338 | &nbsp;&nbsp;&nbsp;&nbsp;197146 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;46380 |
| Territorial Bancorp, Inc. | &nbsp;&nbsp;1722 | &nbsp;&nbsp;&nbsp;&nbsp;41345 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;19041 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;1826 | &nbsp;&nbsp;&nbsp;&nbsp;68639 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;31784 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thrifts and mortgage finance (continued)** | **Thrifts and mortgage finance (continued)** |  |
| Waterstone Financial, Inc. | &nbsp;&nbsp;3099 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53427 |
| Western New England Bancorp, Inc. | &nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34141 |
| WSFS Financial Corp. | &nbsp;&nbsp;4396 | &nbsp;&nbsp;&nbsp;&nbsp;199315 |
|  |  | &nbsp;&nbsp;&nbsp;2328668 |
|  |  | 32725074 |
| **Health care – 11.9%** |  |  |
| **Biotechnology – 3.7%** | **Biotechnology – 3.7%** |  |
| Achillion Pharmaceuticals, Inc. (A)(B) | 10940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16452 |
| Agios Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;157248 |
| Albireo Pharma, Inc. (B) | 27015 | &nbsp;&nbsp;&nbsp;&nbsp;583794 |
| Allogene Therapeutics, Inc. (B) | &nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27940 |
| AnaptysBio, Inc. (B) | &nbsp;&nbsp;1489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46144 |
| Anika Therapeutics, Inc. (B) | &nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46916 |
| Arcus Biosciences, Inc. (B) | &nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79535 |
| Arcutis Biotherapeutics, Inc. (B) | 30760 | &nbsp;&nbsp;&nbsp;&nbsp;455248 |
| Avidity Biosciences, Inc. (B) | &nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22789 |
| Avita Medical, Inc. (B) | &nbsp;&nbsp;2616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17266 |
| BioCryst Pharmaceuticals, Inc. (B) | 31898 | &nbsp;&nbsp;&nbsp;&nbsp;366189 |
| Bioxcel Therapeutics, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14112 |
| Bluebird Bio, Inc. (B) | &nbsp;&nbsp;3230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22352 |
| Concert Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;1198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6996 |
| Eagle Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17100 |
| Editas Medicine, Inc. (B) | &nbsp;&nbsp;3778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33511 |
| Emergent BioSolutions, Inc. (B) | &nbsp;&nbsp;2676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31604 |
| Generation Bio Company (B) | &nbsp;&nbsp;4046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15901 |
| Halozyme Therapeutics, Inc. (B) | 12660 | &nbsp;&nbsp;&nbsp;&nbsp;720354 |
| Ideaya Biosciences, Inc. (B) | &nbsp;&nbsp;2156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39175 |
| Immunovant, Inc. (B) | &nbsp;&nbsp;4814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85449 |
| Insmed, Inc. (B) | 19185 | &nbsp;&nbsp;&nbsp;&nbsp;383316 |
| iTeos Therapeutics, Inc. (B) | &nbsp;&nbsp;1538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30037 |
| Jounce Therapeutics, Inc. (B) | &nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3544 |
| Kodiak Sciences, Inc. (B) | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8485 |
| Kura Oncology, Inc. (B) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29834 |
| Myriad Genetics, Inc. (B) | &nbsp;&nbsp;5783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83911 |
| Oyster Point Pharma, Inc. (B) | 27260 | &nbsp;&nbsp;&nbsp;&nbsp;304494 |
| PDL BioPharma, Inc. (A)(B) | &nbsp;&nbsp;5434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6358 |
| Protagonist Therapeutics, Inc. (B) | &nbsp;&nbsp;3736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40760 |
| REGENXBIO, Inc. (B) | &nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38397 |
| Replimune Group, Inc. (B) | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33810 |
| Sage Therapeutics, Inc. (B) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;101681 |
| Sutro Biopharma, Inc. (B) | &nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14261 |
| Travere Therapeutics, Inc. (B) | 19697 | &nbsp;&nbsp;&nbsp;&nbsp;414228 |
| United Therapeutics Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;113183 |
| Vanda Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;4716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34851 |
| Veracyte, Inc. (B) | 21410 | &nbsp;&nbsp;&nbsp;&nbsp;508059 |
| Vericel Corp. (B) | 22687 | &nbsp;&nbsp;&nbsp;&nbsp;597576 |
| Viking Therapeutics, Inc. (B) | &nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43043 |
| Xencor, Inc. (B) | &nbsp;&nbsp;1408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36664 |
|  |  | &nbsp;&nbsp;&nbsp;5632567 |
| **Health care equipment and supplies – 2.8%** | **Health care equipment and supplies – 2.8%** |  |
| AngioDynamics, Inc. (B) | &nbsp;&nbsp;3198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44036 |
| Artivion, Inc. (B) | 20922 | &nbsp;&nbsp;&nbsp;&nbsp;253575 |
| AtriCure, Inc. (B) | 11733 | &nbsp;&nbsp;&nbsp;&nbsp;520711 |
| Avanos Medical, Inc. (B) | &nbsp;&nbsp;3807 | &nbsp;&nbsp;&nbsp;&nbsp;103017 |
| Cardiovascular Systems, Inc. (B) | 14964 | &nbsp;&nbsp;&nbsp;&nbsp;203810 |
| Dentsply Sirona, Inc. | 11209 | &nbsp;&nbsp;&nbsp;&nbsp;356895 |
| Enovis Corp. (B) | &nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp;196418 |
| Envista Holdings Corp. (B) | &nbsp;&nbsp;8580 | &nbsp;&nbsp;&nbsp;&nbsp;288889 |
| FONAR Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7755 |
| Globus Medical, Inc., Class A (B) | &nbsp;&nbsp;9920 | &nbsp;&nbsp;&nbsp;&nbsp;736758 |
| Heska Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6402 |
| ICU Medical, Inc. (B) | &nbsp;&nbsp;2303 | &nbsp;&nbsp;&nbsp;&nbsp;362676 |
| Inogen, Inc. (B) | &nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33073 |
| Integer Holdings Corp. (B) | &nbsp;&nbsp;2433 | &nbsp;&nbsp;&nbsp;&nbsp;166563 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 125 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Integra LifeSciences Holdings Corp. (B) | &nbsp;&nbsp;9853 | $&nbsp;&nbsp;&nbsp;&nbsp;552458 |
| Kewaunee Scientific Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1291 |
| LENSAR, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318 |
| LivaNova PLC (B) | &nbsp;&nbsp;1996 | &nbsp;&nbsp;&nbsp;&nbsp;110858 |
| Meridian Bioscience, Inc. (B) | &nbsp;&nbsp;2202 | &nbsp;&nbsp;&nbsp;&nbsp;73128 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;28089 |
| NuVasive, Inc. (B) | &nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp;86645 |
| OraSure Technologies, Inc. (B) | &nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp;19473 |
| Orthofix Medical, Inc. (B) | &nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;25375 |
| SeaSpine Holdings Corp. (B) | &nbsp;&nbsp;2224 | &nbsp;&nbsp;&nbsp;&nbsp;18570 |
| Surgalign Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 |
| UFP Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;35367 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;29053 |
| Varex Imaging Corp. (B) | &nbsp;&nbsp;3469 | &nbsp;&nbsp;&nbsp;&nbsp;70421 |
|  |  | 4333945 |
| **Health care providers and services – 2.3%** | **Health care providers and services – 2.3%** |  |
| Acadia Healthcare Company, Inc. (B) | 10789 | &nbsp;&nbsp;&nbsp;&nbsp;888150 |
| Addus HomeCare Corp. (B) | &nbsp;&nbsp;1559 | &nbsp;&nbsp;&nbsp;&nbsp;155105 |
| AlerisLife, Inc. (B) | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 |
| Amedisys, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;11361 |
| Brookdale Senior Living, Inc. (B) | 14458 | &nbsp;&nbsp;&nbsp;&nbsp;39470 |
| Castle Biosciences, Inc. (B) | &nbsp;&nbsp;9598 | &nbsp;&nbsp;&nbsp;&nbsp;225937 |
| Cross Country Healthcare, Inc. (B) | &nbsp;&nbsp;2734 | &nbsp;&nbsp;&nbsp;&nbsp;72642 |
| Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9570 |
| Enhabit, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 |
| Fulgent Genetics, Inc. (B) | &nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp;59471 |
| HealthEquity, Inc. (B) | &nbsp;&nbsp;9922 | &nbsp;&nbsp;&nbsp;&nbsp;611592 |
| LHC Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;41393 |
| National HealthCare Corp. | &nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;84966 |
| OPKO Health, Inc. (B) | &nbsp;&nbsp;8398 | &nbsp;&nbsp;&nbsp;&nbsp;10498 |
| Owens & Minor, Inc. (B) | &nbsp;&nbsp;3760 | &nbsp;&nbsp;&nbsp;&nbsp;73433 |
| Patterson Companies, Inc. | &nbsp;&nbsp;4372 | &nbsp;&nbsp;&nbsp;&nbsp;122547 |
| Pediatrix Medical Group, Inc. (B) | &nbsp;&nbsp;5689 | &nbsp;&nbsp;&nbsp;&nbsp;84539 |
| PetIQ, Inc. (B) | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;10575 |
| Premier, Inc., Class A | &nbsp;&nbsp;3905 | &nbsp;&nbsp;&nbsp;&nbsp;136597 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;40274 |
| Surgery Partners, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;10308 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;507204 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;4086 | &nbsp;&nbsp;&nbsp;&nbsp;331089 |
|  |  | 3528929 |
| **Health care technology – 0.3%** | **Health care technology – 0.3%** |  |
| Allscripts Healthcare Solutions, Inc. (B) | 10106 | &nbsp;&nbsp;&nbsp;&nbsp;178270 |
| American Well Corp., Class A (B) | &nbsp;&nbsp;9568 | &nbsp;&nbsp;&nbsp;&nbsp;27077 |
| Certara, Inc. (B) | &nbsp;&nbsp;4564 | &nbsp;&nbsp;&nbsp;&nbsp;73343 |
| Computer Programs and Systems, Inc. (B) | &nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;29044 |
| HealthStream, Inc. (B) | &nbsp;&nbsp;1969 | &nbsp;&nbsp;&nbsp;&nbsp;48910 |
| NextGen Healthcare, Inc. (B) | &nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;54687 |
| Teladoc Health, Inc. (B) | &nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;40560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;451891 |
| **Life sciences tools and services – 1.2%** | **Life sciences tools and services – 1.2%** |  |
| Azenta, Inc. (B) | 11095 | &nbsp;&nbsp;&nbsp;&nbsp;645951 |
| CryoPort, Inc. (B) | 16690 | &nbsp;&nbsp;&nbsp;&nbsp;289572 |
| Harvard Bioscience, Inc. (B) | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;14404 |
| Medpace Holdings, Inc. (B) | &nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;&nbsp;767225 |
| NeoGenomics, Inc. (B) | &nbsp;&nbsp;4116 | &nbsp;&nbsp;&nbsp;&nbsp;38032 |
| OmniAb, Inc. (B) | &nbsp;&nbsp;3101 | &nbsp;&nbsp;&nbsp;&nbsp;11164 |
| OmniAb, Inc., Earnout Shares (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc., Earnout Shares (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Personalis, Inc. (B) | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269 |
| Seer, Inc. (B) | &nbsp;&nbsp;2095 | &nbsp;&nbsp;&nbsp;&nbsp;12151 |
| Syneos Health, Inc. (B) | &nbsp;&nbsp;1384 | &nbsp;&nbsp;&nbsp;&nbsp;50765 |
|  |  | 1831533 |
| **Pharmaceuticals – 1.6%** | **Pharmaceuticals – 1.6%** |  |
| Amphastar Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;77868 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| ANI Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32184 |
| Cara Therapeutics, Inc. (B) | &nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30341 |
| Collegium Pharmaceutical, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14477 |
| Cumberland Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151 |
| Elanco Animal Health, Inc. (B) | &nbsp;&nbsp;9283 | &nbsp;&nbsp;&nbsp;&nbsp;113438 |
| Innoviva, Inc. (B) | &nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72080 |
| Intra-Cellular Therapies, Inc. (B) | 10652 | &nbsp;&nbsp;&nbsp;&nbsp;563704 |
| Ligand Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42284 |
| Nektar Therapeutics (B) | 10585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23922 |
| Organon & Company | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19411 |
| Perrigo Company PLC | &nbsp;&nbsp;7043 | &nbsp;&nbsp;&nbsp;&nbsp;240096 |
| Phathom Pharmaceuticals, Inc. (B) | 28086 | &nbsp;&nbsp;&nbsp;&nbsp;315125 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19163 |
| Prestige Consumer Healthcare, Inc. (B) | &nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;202824 |
| Satsuma Pharmaceuticals, Inc. (B) | &nbsp;&nbsp;2208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| Supernus Pharmaceuticals, Inc. (B) | 17603 | &nbsp;&nbsp;&nbsp;&nbsp;627899 |
| Taro Pharmaceutical Industries, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14607 |
|  |  | &nbsp;&nbsp;&nbsp;2413561 |
|  |  | 18192426 |
| **Industrials – 18.1%** |  |  |
| **Aerospace and defense – 1.1%** | **Aerospace and defense – 1.1%** |  |
| AAR Corp. (B) | &nbsp;&nbsp;3353 | &nbsp;&nbsp;&nbsp;&nbsp;150550 |
| Astronics Corp. (B) | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17510 |
| Ducommun, Inc. (B) | &nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62200 |
| Hexcel Corp. | 12990 | &nbsp;&nbsp;&nbsp;&nbsp;764462 |
| Kaman Corp. | &nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39471 |
| Kratos Defense & Security Solutions, Inc. (B) | &nbsp;&nbsp;3850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39732 |
| Maxar Technologies, Inc. | &nbsp;&nbsp;5183 | &nbsp;&nbsp;&nbsp;&nbsp;268168 |
| Mercury Systems, Inc. (B) | &nbsp;&nbsp;2355 | &nbsp;&nbsp;&nbsp;&nbsp;105363 |
| Moog, Inc., Class A | &nbsp;&nbsp;1548 | &nbsp;&nbsp;&nbsp;&nbsp;135852 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44088 |
| Park Aerospace Corp. | &nbsp;&nbsp;2083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27933 |
| Parsons Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33346 |
| SIFCO Industries, Inc. (B) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 |
| V2X, Inc. (B) | &nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42487 |
|  |  | &nbsp;&nbsp;&nbsp;1733322 |
| **Air freight and logistics – 0.4%** | **Air freight and logistics – 0.4%** |  |
| Air Transport Services Group, Inc. (B) | &nbsp;&nbsp;6774 | &nbsp;&nbsp;&nbsp;&nbsp;175989 |
| Atlas Air Worldwide Holdings, Inc. (B) | &nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp;249278 |
| Hub Group, Inc., Class A (B) | &nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;192207 |
| Radiant Logistics, Inc. (B) | &nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19159 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;636633 |
| **Airlines – 0.6%** | **Airlines – 0.6%** |  |
| Alaska Air Group, Inc. (B) | &nbsp;&nbsp;7840 | &nbsp;&nbsp;&nbsp;&nbsp;336650 |
| Allegiant Travel Company (B) | &nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84784 |
| Copa Holdings SA, Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75269 |
| Hawaiian Holdings, Inc. (B) | &nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40332 |
| JetBlue Airways Corp. (B) | 22528 | &nbsp;&nbsp;&nbsp;&nbsp;145981 |
| Mesa Air Group, Inc. (B) | &nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140 |
| SkyWest, Inc. (B) | &nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60162 |
| Spirit Airlines, Inc. | &nbsp;&nbsp;5129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99913 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;845231 |
| **Building products – 1.7%** | **Building products – 1.7%** |  |
| American Woodmark Corp. (B) | &nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63958 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96834 |
| Builders FirstSource, Inc. (B) | &nbsp;&nbsp;8730 | &nbsp;&nbsp;&nbsp;&nbsp;566402 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30725 |
| Gibraltar Industries, Inc. (B) | 14406 | &nbsp;&nbsp;&nbsp;&nbsp;660947 |
| Griffon Corp. | &nbsp;&nbsp;2832 | &nbsp;&nbsp;&nbsp;&nbsp;101357 |
| Hayward Holdings, Inc. (B) | &nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22212 |
| Insteel Industries, Inc. | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46481 |
| JELD-WEN Holding, Inc. (B) | &nbsp;&nbsp;4097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39536 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 126 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| Masonite International Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;872 | $&nbsp;&nbsp;&nbsp;&nbsp;70292 |
| Masterbrand, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4062 |
| Owens Corning | &nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;93148 |
| PGT Innovations, Inc. (B) | &nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;37608 |
| Quanex Building Products Corp. | &nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;93039 |
| Resideo Technologies, Inc. (B) | &nbsp;&nbsp;9105 | &nbsp;&nbsp;&nbsp;&nbsp;149777 |
| The AZEK Company, Inc. (B) | &nbsp;&nbsp;9070 | &nbsp;&nbsp;&nbsp;&nbsp;184302 |
| UFP Industries, Inc. | &nbsp;&nbsp;3823 | &nbsp;&nbsp;&nbsp;&nbsp;302973 |
|  |  | 2563653 |
| **Commercial services and supplies – 0.9%** | **Commercial services and supplies – 0.9%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;250085 |
| ACCO Brands Corp. | &nbsp;&nbsp;8323 | &nbsp;&nbsp;&nbsp;&nbsp;46526 |
| Acme United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;16053 |
| Brady Corp., Class A | &nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp;121754 |
| BrightView Holdings, Inc. (B) | &nbsp;&nbsp;6940 | &nbsp;&nbsp;&nbsp;&nbsp;47817 |
| CECO Environmental Corp. (B) | &nbsp;&nbsp;3081 | &nbsp;&nbsp;&nbsp;&nbsp;35986 |
| Civeo Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;20930 |
| Clean Harbors, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;42339 |
| Deluxe Corp. | &nbsp;&nbsp;2706 | &nbsp;&nbsp;&nbsp;&nbsp;45948 |
| Ennis, Inc. | &nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp;57793 |
| Harsco Corp. (B) | &nbsp;&nbsp;7551 | &nbsp;&nbsp;&nbsp;&nbsp;47496 |
| Healthcare Services Group, Inc. | &nbsp;&nbsp;2180 | &nbsp;&nbsp;&nbsp;&nbsp;26160 |
| Heritage-Crystal Clean, Inc. (B) | &nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp;60965 |
| HNI Corp. | &nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;42702 |
| Interface, Inc. | &nbsp;&nbsp;2884 | &nbsp;&nbsp;&nbsp;&nbsp;28465 |
| KAR Auction Services, Inc. (B) | &nbsp;&nbsp;8224 | &nbsp;&nbsp;&nbsp;&nbsp;107323 |
| Kimball International, Inc., Class B | &nbsp;&nbsp;3015 | &nbsp;&nbsp;&nbsp;&nbsp;19598 |
| Matthews International Corp., Class A | &nbsp;&nbsp;2517 | &nbsp;&nbsp;&nbsp;&nbsp;76617 |
| MillerKnoll, Inc. | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;23216 |
| NL Industries, Inc. | &nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;22201 |
| SP Plus Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;13888 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;6532 | &nbsp;&nbsp;&nbsp;&nbsp;46181 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;128724 |
| Virco Manufacturing Corp. (B) | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5424 |
| VSE Corp. | &nbsp;&nbsp;1368 | &nbsp;&nbsp;&nbsp;&nbsp;64132 |
|  |  | 1398323 |
| **Construction and engineering – 1.2%** | **Construction and engineering – 1.2%** |  |
| API Group Corp. (B) | &nbsp;&nbsp;3732 | &nbsp;&nbsp;&nbsp;&nbsp;70199 |
| Arcosa, Inc. | &nbsp;&nbsp;4310 | &nbsp;&nbsp;&nbsp;&nbsp;234205 |
| Argan, Inc. | &nbsp;&nbsp;1446 | &nbsp;&nbsp;&nbsp;&nbsp;53328 |
| Concrete Pumping Holdings, Inc. (B) | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;10530 |
| Construction Partners, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;24982 |
| Dycom Industries, Inc. (B) | &nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp;137686 |
| Fluor Corp. (B) | &nbsp;&nbsp;3410 | &nbsp;&nbsp;&nbsp;&nbsp;118191 |
| Granite Construction, Inc. | &nbsp;&nbsp;3746 | &nbsp;&nbsp;&nbsp;&nbsp;131372 |
| Great Lakes Dredge & Dock Corp. (B) | &nbsp;&nbsp;6888 | &nbsp;&nbsp;&nbsp;&nbsp;40984 |
| IES Holdings, Inc. (B) | &nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp;41973 |
| MasTec, Inc. (B) | &nbsp;&nbsp;3659 | &nbsp;&nbsp;&nbsp;&nbsp;312222 |
| Matrix Service Company (B) | &nbsp;&nbsp;2731 | &nbsp;&nbsp;&nbsp;&nbsp;16987 |
| MDU Resources Group, Inc. | &nbsp;&nbsp;6708 | &nbsp;&nbsp;&nbsp;&nbsp;203521 |
| MYR Group, Inc. (B) | &nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp;111589 |
| Northwest Pipe Company (B) | &nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp;44012 |
| NV5 Global, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;&nbsp;&nbsp;70527 |
| Orion Group Holdings, Inc. (B) | &nbsp;&nbsp;4263 | &nbsp;&nbsp;&nbsp;&nbsp;10146 |
| Primoris Services Corp. | &nbsp;&nbsp;3474 | &nbsp;&nbsp;&nbsp;&nbsp;76220 |
| Sterling Infrastructure, Inc. (B) | &nbsp;&nbsp;2528 | &nbsp;&nbsp;&nbsp;&nbsp;82918 |
| Tutor Perini Corp. (B) | &nbsp;&nbsp;4167 | &nbsp;&nbsp;&nbsp;&nbsp;31461 |
|  |  | 1823053 |
| **Electrical equipment – 1.6%** | **Electrical equipment – 1.6%** |  |
| Allied Motion Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;10443 |
| American Superconductor Corp. (B) | &nbsp;&nbsp;1655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 |
| Atkore, Inc. (B) | 10376 | 1176846 |
| AZZ, Inc. | &nbsp;&nbsp;1376 | &nbsp;&nbsp;&nbsp;&nbsp;55315 |
| Encore Wire Corp. | &nbsp;&nbsp;1949 | &nbsp;&nbsp;&nbsp;&nbsp;268104 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| EnerSys | &nbsp;&nbsp;1533 | $&nbsp;&nbsp;&nbsp;&nbsp;113197 |
| LSI Industries, Inc. | &nbsp;&nbsp;4131 | &nbsp;&nbsp;&nbsp;&nbsp;50563 |
| nVent Electric PLC | &nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp;121373 |
| Pineapple Energy, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 |
| Powell Industries, Inc. | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;43764 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;40979 |
| Regal Rexnord Corp. | &nbsp;&nbsp;3159 | &nbsp;&nbsp;&nbsp;&nbsp;379017 |
| Sensata Technologies Holding PLC | &nbsp;&nbsp;3072 | &nbsp;&nbsp;&nbsp;&nbsp;124047 |
| Sunrun, Inc. (B) | &nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;48256 |
| Thermon Group Holdings, Inc. (B) | &nbsp;&nbsp;3483 | &nbsp;&nbsp;&nbsp;&nbsp;69939 |
| Ultralife Corp. (B) | &nbsp;&nbsp;1984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7658 |
|  |  | 2516640 |
| **Machinery – 4.4%** | **Machinery – 4.4%** |  |
| 3D Systems Corp. (B) | &nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;27876 |
| AGCO Corp. | &nbsp;&nbsp;1707 | &nbsp;&nbsp;&nbsp;&nbsp;236744 |
| Alamo Group, Inc. | &nbsp;&nbsp;5250 | &nbsp;&nbsp;&nbsp;&nbsp;743400 |
| Albany International Corp., Class A | &nbsp;&nbsp;1901 | &nbsp;&nbsp;&nbsp;&nbsp;187420 |
| Altra Industrial Motion Corp. | &nbsp;&nbsp;4484 | &nbsp;&nbsp;&nbsp;&nbsp;267919 |
| Astec Industries, Inc. | &nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp;98194 |
| Barnes Group, Inc. | &nbsp;&nbsp;4989 | &nbsp;&nbsp;&nbsp;&nbsp;203801 |
| CIRCOR International, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;10566 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;70720 |
| Commercial Vehicle Group, Inc. (B) | &nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;16971 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;1506 | &nbsp;&nbsp;&nbsp;&nbsp;38328 |
| EnPro Industries, Inc. | &nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;163252 |
| Esab Corp. | &nbsp;&nbsp;2502 | &nbsp;&nbsp;&nbsp;&nbsp;117394 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;165013 |
| Federal Signal Corp. | &nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp;170545 |
| Flowserve Corp. | &nbsp;&nbsp;&nbsp;&nbsp;699 | &nbsp;&nbsp;&nbsp;&nbsp;21445 |
| Gates Industrial Corp. PLC (B) | 18170 | &nbsp;&nbsp;&nbsp;&nbsp;207320 |
| Gencor Industries, Inc. (B) | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;21210 |
| Graham Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 |
| Helios Technologies, Inc. | &nbsp;&nbsp;9146 | &nbsp;&nbsp;&nbsp;&nbsp;497908 |
| Hillenbrand, Inc. | &nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;91484 |
| Hurco Companies, Inc. | &nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp;27541 |
| Hyster-Yale Materials Handling, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;20628 |
| Kennametal, Inc. | &nbsp;&nbsp;6313 | &nbsp;&nbsp;&nbsp;&nbsp;151891 |
| LB Foster Company, Class A (B) | &nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;16446 |
| Luxfer Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8685 |
| Mayville Engineering Company, Inc. (B) | &nbsp;&nbsp;1096 | &nbsp;&nbsp;&nbsp;&nbsp;13875 |
| Miller Industries, Inc. | &nbsp;&nbsp;1434 | &nbsp;&nbsp;&nbsp;&nbsp;38230 |
| Mueller Industries, Inc. | &nbsp;&nbsp;2004 | &nbsp;&nbsp;&nbsp;&nbsp;118236 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp;33786 |
| NN, Inc. (B) | &nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3564 |
| Oshkosh Corp. | &nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;130168 |
| Park-Ohio Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9160 |
| Perma-Pipe International Holdings, Inc. (B) | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;10395 |
| Proto Labs, Inc. (B) | &nbsp;&nbsp;1588 | &nbsp;&nbsp;&nbsp;&nbsp;40542 |
| RBC Bearings, Inc. (B) | &nbsp;&nbsp;4162 | &nbsp;&nbsp;&nbsp;&nbsp;871315 |
| REV Group, Inc. | &nbsp;&nbsp;5224 | &nbsp;&nbsp;&nbsp;&nbsp;65927 |
| SPX Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;45955 |
| Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;31747 |
| Tennant Company | &nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp;42730 |
| Terex Corp. | &nbsp;&nbsp;1393 | &nbsp;&nbsp;&nbsp;&nbsp;59509 |
| The Eastern Company | &nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp;28361 |
| The Gorman-Rupp Company | &nbsp;&nbsp;1454 | &nbsp;&nbsp;&nbsp;&nbsp;37251 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp;94890 |
| The LS Starrett Company, Class A (B) | &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;11261 |
| The Manitowoc Company, Inc. (B) | &nbsp;&nbsp;3343 | &nbsp;&nbsp;&nbsp;&nbsp;30622 |
| The Shyft Group, Inc. | 35052 | &nbsp;&nbsp;&nbsp;&nbsp;871393 |
| The Timken Company | &nbsp;&nbsp;2179 | &nbsp;&nbsp;&nbsp;&nbsp;153990 |
| Titan International, Inc. (B) | &nbsp;&nbsp;3936 | &nbsp;&nbsp;&nbsp;&nbsp;60300 |
| Trinity Industries, Inc. | &nbsp;&nbsp;7997 | &nbsp;&nbsp;&nbsp;&nbsp;236471 |
| Twin Disc, Inc. (B) | &nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;16038 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 127 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Wabash National Corp. | &nbsp;&nbsp;1980 | $&nbsp;&nbsp;&nbsp;&nbsp;44748 |
|  |  | 6686368 |
| **Marine – 0.4%** | **Marine – 0.4%** |  |
| Costamare, Inc. | &nbsp;&nbsp;9592 | &nbsp;&nbsp;&nbsp;&nbsp;89014 |
| Eagle Bulk Shipping, Inc. | &nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp;64572 |
| Eneti, Inc. | &nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;11176 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;4550 | &nbsp;&nbsp;&nbsp;&nbsp;69888 |
| Kirby Corp. (B) | &nbsp;&nbsp;2166 | &nbsp;&nbsp;&nbsp;&nbsp;139382 |
| Matson, Inc. | &nbsp;&nbsp;2868 | &nbsp;&nbsp;&nbsp;&nbsp;179279 |
| Pangaea Logistics Solutions, Ltd. | &nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9105 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;562416 |
| **Professional services – 2.2%** | **Professional services – 2.2%** |  |
| Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;46360 |
| BGSF, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;12256 |
| CACI International, Inc., Class A (B) | &nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;807084 |
| CBIZ, Inc. (B) | &nbsp;&nbsp;3282 | &nbsp;&nbsp;&nbsp;&nbsp;153762 |
| Clarivate PLC (B) | 21840 | &nbsp;&nbsp;&nbsp;&nbsp;182146 |
| CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;88394 |
| Dun & Bradstreet Holdings, Inc. | &nbsp;&nbsp;6331 | &nbsp;&nbsp;&nbsp;&nbsp;77618 |
| Exponent, Inc. | &nbsp;&nbsp;8270 | &nbsp;&nbsp;&nbsp;&nbsp;819474 |
| First Advantage Corp. (B) | &nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;24414 |
| Forrester Research, Inc. (B) | &nbsp;&nbsp;9404 | &nbsp;&nbsp;&nbsp;&nbsp;336287 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;&nbsp;46766 |
| Huron Consulting Group, Inc. (B) | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;102439 |
| ICF International, Inc. | &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;141542 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;3287 | &nbsp;&nbsp;&nbsp;&nbsp;55550 |
| Korn Ferry | &nbsp;&nbsp;3492 | &nbsp;&nbsp;&nbsp;&nbsp;176765 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;1187 | &nbsp;&nbsp;&nbsp;&nbsp;98770 |
| Mistras Group, Inc. (B) | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;11004 |
| RCM Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702 |
| Resources Connection, Inc. | &nbsp;&nbsp;4120 | &nbsp;&nbsp;&nbsp;&nbsp;75726 |
| TrueBlue, Inc. (B) | &nbsp;&nbsp;3219 | &nbsp;&nbsp;&nbsp;&nbsp;63028 |
| Willdan Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7140 |
|  |  | 3330227 |
| **Road and rail – 1.1%** | **Road and rail – 1.1%** |  |
| ArcBest Corp. | &nbsp;&nbsp;2462 | &nbsp;&nbsp;&nbsp;&nbsp;172438 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;1513 | &nbsp;&nbsp;&nbsp;&nbsp;52304 |
| Daseke, Inc. (B) | &nbsp;&nbsp;2236 | &nbsp;&nbsp;&nbsp;&nbsp;12723 |
| Heartland Express, Inc. | &nbsp;&nbsp;4107 | &nbsp;&nbsp;&nbsp;&nbsp;63001 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;8340 | &nbsp;&nbsp;&nbsp;&nbsp;437099 |
| Marten Transport, Ltd. | &nbsp;&nbsp;6368 | &nbsp;&nbsp;&nbsp;&nbsp;125959 |
| PAM Transportation Services, Inc. (B) | &nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp;54002 |
| Patriot Transportation Holding, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 |
| Ryder System, Inc. | &nbsp;&nbsp;3393 | &nbsp;&nbsp;&nbsp;&nbsp;283553 |
| Schneider National, Inc., Class B | &nbsp;&nbsp;3459 | &nbsp;&nbsp;&nbsp;&nbsp;80941 |
| TuSimple Holdings, Inc., Class A (B) | &nbsp;&nbsp;4034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6616 |
| U.S. Xpress Enterprises, Inc., Class A (B) | &nbsp;&nbsp;2111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821 |
| U-Haul Holding Company, Series N | &nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp;234050 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;20064 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;4155 | &nbsp;&nbsp;&nbsp;&nbsp;167280 |
|  |  | 1717051 |
| **Trading companies and distributors – 2.5%** | **Trading companies and distributors – 2.5%** |  |
| Air Lease Corp. | &nbsp;&nbsp;8638 | &nbsp;&nbsp;&nbsp;&nbsp;331872 |
| Alta Equipment Group, Inc. | &nbsp;&nbsp;1696 | &nbsp;&nbsp;&nbsp;&nbsp;22370 |
| Beacon Roofing Supply, Inc. (B) | &nbsp;&nbsp;4604 | &nbsp;&nbsp;&nbsp;&nbsp;243045 |
| BlueLinx Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;63501 |
| Boise Cascade Company | &nbsp;&nbsp;3470 | &nbsp;&nbsp;&nbsp;&nbsp;238285 |
| Distribution Solutions Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp;21784 |
| DXP Enterprises, Inc. (B) | &nbsp;&nbsp;1767 | &nbsp;&nbsp;&nbsp;&nbsp;48681 |
| GATX Corp. | &nbsp;&nbsp;2464 | &nbsp;&nbsp;&nbsp;&nbsp;262022 |
| GMS, Inc. (B) | &nbsp;&nbsp;1599 | &nbsp;&nbsp;&nbsp;&nbsp;79630 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;32761 |
| Hudson Technologies, Inc. (B) | &nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;26767 |
| McGrath RentCorp | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;148110 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| MRC Global, Inc. (B) | &nbsp;&nbsp;2745 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31787 |
| NOW, Inc. (B) | &nbsp;&nbsp;7656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97231 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;2831 | &nbsp;&nbsp;&nbsp;&nbsp;148005 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62854 |
| SiteOne Landscape Supply, Inc. (B) | &nbsp;&nbsp;6798 | &nbsp;&nbsp;&nbsp;&nbsp;797541 |
| Textainer Group Holdings, Ltd. | &nbsp;&nbsp;3510 | &nbsp;&nbsp;&nbsp;&nbsp;108845 |
| Titan Machinery, Inc. (B) | &nbsp;&nbsp;2366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94001 |
| Triton International, Ltd. | &nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp;328631 |
| Univar Solutions, Inc. (B) | &nbsp;&nbsp;3996 | &nbsp;&nbsp;&nbsp;&nbsp;127073 |
| Veritiv Corp. | &nbsp;&nbsp;1106 | &nbsp;&nbsp;&nbsp;&nbsp;134611 |
| WESCO International, Inc. (B) | &nbsp;&nbsp;2696 | &nbsp;&nbsp;&nbsp;&nbsp;337539 |
| Willis Lease Finance Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23958 |
|  |  | &nbsp;&nbsp;&nbsp;3810904 |
|  |  | 27623821 |
| **Information technology – 11.9%** |  |  |
| **Communications equipment – 1.0%** | **Communications equipment – 1.0%** |  |
| Aviat Networks, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25857 |
| BK Technologies Corp. | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6972 |
| Comtech Telecommunications Corp. | &nbsp;&nbsp;2706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32851 |
| Digi International, Inc. (B) | &nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp;123210 |
| Genasys, Inc. (B) | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12210 |
| Harmonic, Inc. (B) | &nbsp;&nbsp;6756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88504 |
| Juniper Networks, Inc. | &nbsp;&nbsp;8102 | &nbsp;&nbsp;&nbsp;&nbsp;258940 |
| KVH Industries, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 |
| NETGEAR, Inc. (B) | &nbsp;&nbsp;3326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60234 |
| NetScout Systems, Inc. (B) | &nbsp;&nbsp;5946 | &nbsp;&nbsp;&nbsp;&nbsp;193304 |
| Optical Cable Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3873 |
| Ribbon Communications, Inc. (B) | &nbsp;&nbsp;8541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23829 |
| TESSCO Technologies, Inc. (B) | &nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8435 |
| Viasat, Inc. (B) | &nbsp;&nbsp;5154 | &nbsp;&nbsp;&nbsp;&nbsp;163124 |
| Viavi Solutions, Inc. (B) | 53887 | &nbsp;&nbsp;&nbsp;&nbsp;566352 |
|  |  | &nbsp;&nbsp;&nbsp;1576995 |
| **Electronic equipment, instruments and components – 3.7%** | **Electronic equipment, instruments and components – 3.7%** |  |
| ADDvantage Technologies Group, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44005 |
| Arrow Electronics, Inc. (B) | &nbsp;&nbsp;6456 | &nbsp;&nbsp;&nbsp;&nbsp;675104 |
| Avnet, Inc. | &nbsp;&nbsp;9371 | &nbsp;&nbsp;&nbsp;&nbsp;389646 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;1641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54022 |
| Belden, Inc. | &nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;151278 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;3813 | &nbsp;&nbsp;&nbsp;&nbsp;101769 |
| Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 |
| Coherent Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6739 |
| CTS Corp. | &nbsp;&nbsp;3299 | &nbsp;&nbsp;&nbsp;&nbsp;130047 |
| Daktronics, Inc. (B) | &nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11080 |
| ePlus, Inc. (B) | &nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70671 |
| Fabrinet (B) | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;126938 |
| FARO Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20116 |
| Flex, Ltd. (B) | 20782 | &nbsp;&nbsp;&nbsp;&nbsp;445982 |
| Frequency Electronics, Inc. (B) | &nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12570 |
| Insight Enterprises, Inc. (B) | &nbsp;&nbsp;2190 | &nbsp;&nbsp;&nbsp;&nbsp;219591 |
| Itron, Inc. (B) | &nbsp;&nbsp;1487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75317 |
| Jabil, Inc. | &nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78021 |
| Key Tronic Corp. (B) | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8227 |
| Kimball Electronics, Inc. (B) | &nbsp;&nbsp;3036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68583 |
| Knowles Corp. (B) | &nbsp;&nbsp;7107 | &nbsp;&nbsp;&nbsp;&nbsp;116697 |
| Methode Electronics, Inc. | &nbsp;&nbsp;2971 | &nbsp;&nbsp;&nbsp;&nbsp;131823 |
| Novanta, Inc. (B) | &nbsp;&nbsp;7414 | &nbsp;&nbsp;&nbsp;1007320 |
| OSI Systems, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69978 |
| PC Connection, Inc. | &nbsp;&nbsp;2391 | &nbsp;&nbsp;&nbsp;&nbsp;112138 |
| Plexus Corp. (B) | &nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;206375 |
| RF Industries, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 |
| Richardson Electronics, Ltd. | &nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31163 |
| Rogers Corp. (B) | &nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;125904 |
| Sanmina Corp. (B) | &nbsp;&nbsp;4939 | &nbsp;&nbsp;&nbsp;&nbsp;282955 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 128 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| ScanSource, Inc. (B) | &nbsp;&nbsp;2542 | $&nbsp;&nbsp;&nbsp;&nbsp;74277 |
| TD SYNNEX Corp. | &nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp;348249 |
| TTM Technologies, Inc. (B) | &nbsp;&nbsp;8193 | &nbsp;&nbsp;&nbsp;&nbsp;123550 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;9510 | &nbsp;&nbsp;&nbsp;&nbsp;205131 |
| Vishay Precision Group, Inc. (B) | &nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;65164 |
|  |  | 5601563 |
| **IT services – 1.6%** | **IT services – 1.6%** |  |
| BM Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912 |
| Brightcove, Inc. (B) | &nbsp;&nbsp;2443 | &nbsp;&nbsp;&nbsp;&nbsp;12777 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;17366 |
| Concentrix Corp. | &nbsp;&nbsp;2182 | &nbsp;&nbsp;&nbsp;&nbsp;290555 |
| Conduent, Inc. (B) | 14444 | &nbsp;&nbsp;&nbsp;&nbsp;58498 |
| DXC Technology Company (B) | 11225 | &nbsp;&nbsp;&nbsp;&nbsp;297463 |
| Fastly, Inc., Class A (B) | &nbsp;&nbsp;4758 | &nbsp;&nbsp;&nbsp;&nbsp;38968 |
| Flywire Corp. (B) | 35769 | &nbsp;&nbsp;&nbsp;&nbsp;875267 |
| Information Services Group, Inc. | &nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;20240 |
| Kyndryl Holdings, Inc. (B) | &nbsp;&nbsp;7109 | &nbsp;&nbsp;&nbsp;&nbsp;79052 |
| Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;52064 |
| PFSweb, Inc. | &nbsp;&nbsp;1835 | &nbsp;&nbsp;&nbsp;&nbsp;11285 |
| Rackspace Technology, Inc. (B) | &nbsp;&nbsp;4730 | &nbsp;&nbsp;&nbsp;&nbsp;13954 |
| Thoughtworks Holding, Inc. (B) | 68557 | &nbsp;&nbsp;&nbsp;&nbsp;698596 |
|  |  | 2467997 |
| **Semiconductors and semiconductor equipment – 3.3%** | **Semiconductors and semiconductor equipment – 3.3%** |  |
| Allegro MicroSystems, Inc. (B) | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;450300 |
| Alpha & Omega Semiconductor, Ltd. (B) | &nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp;78453 |
| Amkor Technology, Inc. | 18705 | &nbsp;&nbsp;&nbsp;&nbsp;448546 |
| Amtech Systems, Inc. (B) | &nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp;18270 |
| Axcelis Technologies, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;69996 |
| AXT, Inc. (B) | &nbsp;&nbsp;4229 | &nbsp;&nbsp;&nbsp;&nbsp;18523 |
| CEVA, Inc. (B) | &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;39137 |
| Cohu, Inc. (B) | &nbsp;&nbsp;4381 | &nbsp;&nbsp;&nbsp;&nbsp;140411 |
| Diodes, Inc. (B) | &nbsp;&nbsp;2093 | &nbsp;&nbsp;&nbsp;&nbsp;159361 |
| First Solar, Inc. (B) | &nbsp;&nbsp;4689 | &nbsp;&nbsp;&nbsp;&nbsp;702365 |
| FormFactor, Inc. (B) | &nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;61577 |
| Ichor Holdings, Ltd. (B) | &nbsp;&nbsp;2659 | &nbsp;&nbsp;&nbsp;&nbsp;71314 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;4804 | &nbsp;&nbsp;&nbsp;&nbsp;212625 |
| MACOM Technology Solutions Holdings, Inc. (B) | &nbsp;&nbsp;8646 | &nbsp;&nbsp;&nbsp;&nbsp;544525 |
| Magnachip Semiconductor Corp. (B) | &nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;23719 |
| Onto Innovation, Inc. (B) | &nbsp;&nbsp;1755 | &nbsp;&nbsp;&nbsp;&nbsp;119498 |
| Photronics, Inc. (B) | &nbsp;&nbsp;5882 | &nbsp;&nbsp;&nbsp;&nbsp;98994 |
| Power Integrations, Inc. | 10069 | &nbsp;&nbsp;&nbsp;&nbsp;722149 |
| Rambus, Inc. (B) | &nbsp;&nbsp;2174 | &nbsp;&nbsp;&nbsp;&nbsp;77873 |
| Silicon Laboratories, Inc. (B) | &nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp;709418 |
| Ultra Clean Holdings, Inc. (B) | &nbsp;&nbsp;3668 | &nbsp;&nbsp;&nbsp;&nbsp;121594 |
| Veeco Instruments, Inc. (B) | &nbsp;&nbsp;2996 | &nbsp;&nbsp;&nbsp;&nbsp;55666 |
|  |  | 4944314 |
| **Software – 1.9%** | **Software – 1.9%** |  |
| ACI Worldwide, Inc. (B) | &nbsp;&nbsp;9923 | &nbsp;&nbsp;&nbsp;&nbsp;228229 |
| Adeia, Inc. | &nbsp;&nbsp;4859 | &nbsp;&nbsp;&nbsp;&nbsp;46063 |
| Asure Software, Inc. (B) | &nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;12992 |
| Aware, Inc. (B) | &nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3694 |
| Cerence, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5355 |
| Cognyte Software, Ltd. (B) | &nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 |
| Consensus Cloud Solutions, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;11720 |
| CyberArk Software, Ltd. (B) | &nbsp;&nbsp;4740 | &nbsp;&nbsp;&nbsp;&nbsp;614541 |
| Ebix, Inc. | &nbsp;&nbsp;2981 | &nbsp;&nbsp;&nbsp;&nbsp;59501 |
| InterDigital, Inc. | &nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;73725 |
| LiveRamp Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;19877 |
| N-able, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4420 |
| ON24, Inc. (B) | &nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;23008 |
| OneSpan, Inc. (B) | &nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp;11727 |
| Paycor HCM, Inc. (B) | 28014 | &nbsp;&nbsp;&nbsp;&nbsp;685503 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Rapid7, Inc. (B) | &nbsp;&nbsp;7203 | $&nbsp;&nbsp;&nbsp;&nbsp;244758 |
| SecureWorks Corp., Class A (B) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6390 |
| SolarWinds Corp. (B) | &nbsp;&nbsp;8968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83940 |
| The Descartes Systems Group, Inc. (B) | 10003 | &nbsp;&nbsp;&nbsp;&nbsp;696709 |
| Upland Software, Inc. (B) | &nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7586 |
| Verint Systems, Inc. (B) | &nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38711 |
| Xperi, Inc. (B) | &nbsp;&nbsp;1943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16729 |
|  |  | &nbsp;&nbsp;&nbsp;2896428 |
| **Technology hardware, storage and peripherals – 0.4%** | **Technology hardware, storage and peripherals – 0.4%** |  |
| AstroNova, Inc. (B) | &nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18448 |
| Stratasys, Ltd. (B) | &nbsp;&nbsp;4814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57094 |
| Super Micro Computer, Inc. (B) | &nbsp;&nbsp;3994 | &nbsp;&nbsp;&nbsp;&nbsp;327907 |
| Western Digital Corp. (B) | &nbsp;&nbsp;1406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44359 |
| Xerox Holdings Corp. | 10478 | &nbsp;&nbsp;&nbsp;&nbsp;152979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;600787 |
|  |  | 18088084 |
| **Materials – 6.5%** |  |  |
| **Chemicals – 2.8%** | **Chemicals – 2.8%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;2137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81249 |
| American Vanguard Corp. | &nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63675 |
| Ashland, Inc. | &nbsp;&nbsp;2740 | &nbsp;&nbsp;&nbsp;&nbsp;294632 |
| Avient Corp. | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;675200 |
| Balchem Corp. | &nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;606887 |
| Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65434 |
| Chase Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17252 |
| Core Molding Technologies, Inc. (B) | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12990 |
| Eastman Chemical Company | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38195 |
| Ecovyst, Inc. (B) | &nbsp;&nbsp;9373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83045 |
| Element Solutions, Inc. | &nbsp;&nbsp;7601 | &nbsp;&nbsp;&nbsp;&nbsp;138262 |
| FutureFuel Corp. | &nbsp;&nbsp;4276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34764 |
| Hawkins, Inc. | &nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56356 |
| HB Fuller Company | &nbsp;&nbsp;3339 | &nbsp;&nbsp;&nbsp;&nbsp;239139 |
| Huntsman Corp. | 15185 | &nbsp;&nbsp;&nbsp;&nbsp;417284 |
| Innospec, Inc. | &nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp;184531 |
| Intrepid Potash, Inc. (B) | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32248 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47771 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;3820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35908 |
| LSB Industries, Inc. (B) | &nbsp;&nbsp;1567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20841 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59084 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;2317 | &nbsp;&nbsp;&nbsp;&nbsp;140688 |
| Olin Corp. | &nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp;103074 |
| Quaker Chemical Corp. | &nbsp;&nbsp;2189 | &nbsp;&nbsp;&nbsp;&nbsp;365344 |
| Rayonier Advanced Materials, Inc. (B) | &nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43728 |
| Stepan Company | &nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp;152557 |
| Tredegar Corp. | &nbsp;&nbsp;1654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16904 |
| Trinseo PLC | &nbsp;&nbsp;2288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51960 |
| Tronox Holdings PLC | 10595 | &nbsp;&nbsp;&nbsp;&nbsp;145257 |
| Venator Materials PLC (B) | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458 |
| Westlake Corp. | &nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp;103155 |
|  |  | &nbsp;&nbsp;&nbsp;4328872 |
| **Construction materials – 0.2%** | **Construction materials – 0.2%** |  |
| Summit Materials, Inc., Class A (B) | &nbsp;&nbsp;5117 | &nbsp;&nbsp;&nbsp;&nbsp;145258 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96561 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;241819 |
| **Containers and packaging – 1.0%** | **Containers and packaging – 1.0%** |  |
| Berry Global Group, Inc. | &nbsp;&nbsp;7897 | &nbsp;&nbsp;&nbsp;&nbsp;477216 |
| Graphic Packaging Holding Company | &nbsp;&nbsp;4322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96165 |
| Greif, Inc., Class A | &nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94555 |
| Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54605 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13716 |
| O-I Glass, Inc. (B) | &nbsp;&nbsp;2514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41657 |
| Pactiv Evergreen, Inc. | &nbsp;&nbsp;3705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42089 |
| Ranpak Holdings Corp. (B) | &nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10628 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 129 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Containers and packaging (continued)** | **Containers and packaging (continued)** |  |
| Silgan Holdings, Inc. | &nbsp;&nbsp;1345 | $&nbsp;&nbsp;&nbsp;&nbsp;69725 |
| Sonoco Products Company | &nbsp;&nbsp;1332 | &nbsp;&nbsp;&nbsp;&nbsp;80866 |
| TriMas Corp. | &nbsp;&nbsp;1856 | &nbsp;&nbsp;&nbsp;&nbsp;51485 |
| Westrock Company | 13906 | &nbsp;&nbsp;&nbsp;&nbsp;488935 |
|  |  | 1521642 |
| **Metals and mining – 2.3%** | **Metals and mining – 2.3%** |  |
| Alcoa Corp. | 11756 | &nbsp;&nbsp;&nbsp;&nbsp;534545 |
| Ampco-Pittsburgh Corp. (B) | &nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4126 |
| Arconic Corp. (B) | &nbsp;&nbsp;8844 | &nbsp;&nbsp;&nbsp;&nbsp;187139 |
| Ascent Industries Company (B) | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;19152 |
| Carpenter Technology Corp. | &nbsp;&nbsp;4238 | &nbsp;&nbsp;&nbsp;&nbsp;156552 |
| Century Aluminum Company (B) | &nbsp;&nbsp;4406 | &nbsp;&nbsp;&nbsp;&nbsp;36041 |
| Cleveland-Cliffs, Inc. (B) | 20363 | &nbsp;&nbsp;&nbsp;&nbsp;328048 |
| Coeur Mining, Inc. (B) | 15352 | &nbsp;&nbsp;&nbsp;&nbsp;51583 |
| Commercial Metals Company | &nbsp;&nbsp;5907 | &nbsp;&nbsp;&nbsp;&nbsp;285308 |
| Ferroglobe PLC (A)(B) | &nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Friedman Industries, Inc. | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;14793 |
| Gold Resource Corp. | &nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;10557 |
| Haynes International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;39659 |
| Hecla Mining Company | 34470 | &nbsp;&nbsp;&nbsp;&nbsp;191653 |
| Materion Corp. | &nbsp;&nbsp;1721 | &nbsp;&nbsp;&nbsp;&nbsp;150605 |
| Nexa Resources SA | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427 |
| Olympic Steel, Inc. | &nbsp;&nbsp;1438 | &nbsp;&nbsp;&nbsp;&nbsp;48288 |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;2853 | &nbsp;&nbsp;&nbsp;&nbsp;577561 |
| Ryerson Holding Corp. | &nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp;78162 |
| Schnitzer Steel Industries, Inc., Class A | &nbsp;&nbsp;3077 | &nbsp;&nbsp;&nbsp;&nbsp;94310 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;6433 | &nbsp;&nbsp;&nbsp;&nbsp;55517 |
| TimkenSteel Corp. (B) | &nbsp;&nbsp;3682 | &nbsp;&nbsp;&nbsp;&nbsp;66902 |
| U.S. Steel Corp. | &nbsp;&nbsp;8605 | &nbsp;&nbsp;&nbsp;&nbsp;215555 |
| Universal Stainless & Alloy Products, Inc. (B) | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;11200 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;131112 |
| Worthington Industries, Inc. | &nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp;144060 |
|  |  | 3437855 |
| **Paper and forest products – 0.2%** | **Paper and forest products – 0.2%** |  |
| Clearwater Paper Corp. (B) | &nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp;60383 |
| Glatfelter Corp. | &nbsp;&nbsp;4610 | &nbsp;&nbsp;&nbsp;&nbsp;12816 |
| Mercer International, Inc. | &nbsp;&nbsp;7458 | &nbsp;&nbsp;&nbsp;&nbsp;86811 |
| Resolute Forest Products, Inc. (B) | &nbsp;&nbsp;7541 | &nbsp;&nbsp;&nbsp;&nbsp;162810 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;322820 |
|  |  | 9853008 |
| **Real estate – 1.5%** |  |  |
| **Equity real estate investment trusts – 0.7%** | **Equity real estate investment trusts – 0.7%** |  |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;6699 | &nbsp;&nbsp;&nbsp;&nbsp;547844 |
| STAG Industrial, Inc. | 18422 | &nbsp;&nbsp;&nbsp;&nbsp;595215 |
|  |  | 1143059 |
| **Real estate management and development – 0.8%** | **Real estate management and development – 0.8%** |  |
| Anywhere Real Estate, Inc. (B) | &nbsp;&nbsp;9125 | &nbsp;&nbsp;&nbsp;&nbsp;58309 |
| Cushman & Wakefield PLC (B) | &nbsp;&nbsp;9661 | &nbsp;&nbsp;&nbsp;&nbsp;120376 |
| Douglas Elliman, Inc. | &nbsp;&nbsp;5923 | &nbsp;&nbsp;&nbsp;&nbsp;24107 |
| Five Point Holdings LLC, Class A (B) | &nbsp;&nbsp;2659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6195 |
| Forestar Group, Inc. (B) | &nbsp;&nbsp;2613 | &nbsp;&nbsp;&nbsp;&nbsp;40266 |
| FRP Holdings, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;50144 |
| Jones Lang LaSalle, Inc. (B) | &nbsp;&nbsp;2358 | &nbsp;&nbsp;&nbsp;&nbsp;375794 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;3543 | &nbsp;&nbsp;&nbsp;&nbsp;55731 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;1738 | &nbsp;&nbsp;&nbsp;&nbsp;59874 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;7419 | &nbsp;&nbsp;&nbsp;&nbsp;59129 |
| Rafael Holdings, Inc., Class B (B) | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 |
| RE/MAX Holdings, Inc., Class A | &nbsp;&nbsp;2193 | &nbsp;&nbsp;&nbsp;&nbsp;40878 |
| Stratus Properties, Inc. | &nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;19772 |
| Tejon Ranch Company (B) | &nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;45141 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate management and development (continued)** | **Real estate management and development (continued)** |  |
| The Howard Hughes Corp. (B) | &nbsp;&nbsp;&nbsp;&nbsp;3339 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1211817 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2354876 |
| **Utilities – 0.4%** |  |  |
| **Electric utilities – 0.1%** | **Electric utilities – 0.1%** |  |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10340 |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132688 |
| **Gas utilities – 0.1%** | **Gas utilities – 0.1%** |  |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154864 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191294 |
| Sunnova Energy International, Inc. (B) | &nbsp;&nbsp;&nbsp;&nbsp;2399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43206 |
| Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605015 |
| TOTAL COMMON STOCKS (Cost $136,008,075) | TOTAL COMMON STOCKS (Cost $136,008,075) | $150400195 |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Industrials – 0.0%** |  |  |
| **Trading companies and distributors – 0.0%** | **Trading companies and distributors – 0.0%** |  |
| WESCO International, Inc., 10.625% (10.625% to 6-22-25, then 5 Year CMT + 10.325%) | &nbsp;&nbsp;&nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39514 |
| TOTAL PREFERRED SECURITIES (Cost $37,663) | TOTAL PREFERRED SECURITIES (Cost $37,663) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39514 |
| **SHORT-TERM INVESTMENTS – 1.9%** | **SHORT-TERM INVESTMENTS – 1.9%** |  |
| **Short-term funds – 1.9%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;91503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914649 |
| State Street Institutional Treasury Money Market Fund, Premier Class, 3.7656% (D) | 1856986 | &nbsp;&nbsp;&nbsp;&nbsp;1856986 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (D) | &nbsp;&nbsp;138086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138086 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,909,507) | TOTAL SHORT-TERM INVESTMENTS (Cost $2,909,507) | $&nbsp;&nbsp;&nbsp;&nbsp;2909721 |
| **Total Investments (Small Cap Opportunities Trust)<br> (Cost $138,955,245) – 100.6%** | **Total Investments (Small Cap Opportunities Trust)<br> (Cost $138,955,245) – 100.6%** | $**153349430** |
| **Other assets and liabilities, net – (0.6%)** | **Other assets and liabilities, net – (0.6%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(858877)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**152490553** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| (A) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (B) | Non-income producing security. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 130 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Stock Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 98.5%** | **COMMON STOCKS – 98.5%** |  |
| **Communication services – 2.6%** |  |  |
| **Interactive media and services – 1.7%** | **Interactive media and services – 1.7%** |  |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84608 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185358 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3134338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4319696 |
| **Media – 0.9%** | **Media – 0.9%** |  |
| Criteo SA, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6476109 |
| **Consumer discretionary – 10.4%** |  |  |
| **Auto components – 1.0%** | **Auto components – 1.0%** |  |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487994 |
| **Automobiles – 0.6%** | **Automobiles – 0.6%** |  |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429026 |
| **Diversified consumer services – 1.0%** | **Diversified consumer services – 1.0%** |  |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547704 |
| **Hotels, restaurants and leisure – 4.7%** | **Hotels, restaurants and leisure – 4.7%** |  |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022707 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4448728 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475953 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11947388 |
| **Household durables – 1.2%** | **Household durables – 1.2%** |  |
| Skyline Champion Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979905 |
| **Textiles, apparel and luxury goods – 1.9%** | **Textiles, apparel and luxury goods – 1.9%** |  |
| Crocs, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4903205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26295222 |
| **Consumer staples – 4.9%** |  |  |
| **Beverages – 1.6%** | **Beverages – 1.6%** |  |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876010 |
| **Food products – 0.8%** | **Food products – 0.8%** |  |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084120 |
| **Personal products – 2.5%** | **Personal products – 2.5%** |  |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6352753 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12312883 |
| **Energy – 8.3%** |  |  |
| **Energy equipment and services – 1.6%** | **Energy equipment and services – 1.6%** |  |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031656 |
| **Oil, gas and consumable fuels – 6.7%** | **Oil, gas and consumable fuels – 6.7%** |  |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398442 |
| Sitio Royalties Corp., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455708 |
| SM Energy Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4671260 |
| Viper Energy Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4423674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16949084 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980740 |
| **Financials – 4.7%** |  |  |
| **Banks – 3.7%** | **Banks – 3.7%** |  |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756398 |
| Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2387088 |
| Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3008619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9152105 |
| **Mortgage real estate investment trusts – 1.0%** | **Mortgage real estate investment trusts – 1.0%** |  |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11722225 |
| **Health care – 24.4%** |  |  |
| **Biotechnology – 10.3%** | **Biotechnology – 10.3%** |  |
| Adicet Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385698 |
| Amicus Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317874 |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044542 |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772717 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278814 |

---

#### Small Cap Stock Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;28983 | $&nbsp;&nbsp;&nbsp;1291772 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;56361 | &nbsp;&nbsp;&nbsp;1031406 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;54216 | &nbsp;&nbsp;&nbsp;2484177 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;20707 | &nbsp;&nbsp;&nbsp;1178228 |
| Immatics NV (A)(B) | 101839 | &nbsp;&nbsp;&nbsp;&nbsp;887018 |
| Immunocore Holdings PLC, ADR (A) | &nbsp;&nbsp;22945 | &nbsp;&nbsp;&nbsp;1309471 |
| Intellia Therapeutics, Inc. (A) | &nbsp;&nbsp;34379 | &nbsp;&nbsp;&nbsp;1199483 |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;10452 | &nbsp;&nbsp;&nbsp;2053818 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;26811 | &nbsp;&nbsp;&nbsp;&nbsp;669203 |
| Merus NV (A)(B) | &nbsp;&nbsp;49371 | &nbsp;&nbsp;&nbsp;&nbsp;763769 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;23237 | &nbsp;&nbsp;&nbsp;1400029 |
| PTC Therapeutics, Inc. (A) | &nbsp;&nbsp;46118 | &nbsp;&nbsp;&nbsp;1760324 |
| REVOLUTION Medicines, Inc. (A) | &nbsp;&nbsp;51371 | &nbsp;&nbsp;&nbsp;1223657 |
| Rocket Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;53076 | &nbsp;&nbsp;&nbsp;1038697 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;54666 | &nbsp;&nbsp;&nbsp;1391250 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;32660 | &nbsp;&nbsp;&nbsp;1566047 |
|  |  | 26047994 |
| **Health care equipment and supplies – 8.6%** | **Health care equipment and supplies – 8.6%** |  |
| Enovis Corp. (A) | &nbsp;&nbsp;23874 | &nbsp;&nbsp;&nbsp;1277736 |
| Glaukos Corp. (A) | &nbsp;&nbsp;45843 | &nbsp;&nbsp;&nbsp;2002422 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;39129 | &nbsp;&nbsp;&nbsp;2906111 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;47618 | &nbsp;&nbsp;&nbsp;3745156 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;45580 | &nbsp;&nbsp;&nbsp;2897065 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;25406 | &nbsp;&nbsp;&nbsp;6399263 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;12230 | &nbsp;&nbsp;&nbsp;2514610 |
|  |  | 21742363 |
| **Health care providers and services – 3.6%** | **Health care providers and services – 3.6%** |  |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;44371 | &nbsp;&nbsp;&nbsp;3652621 |
| Cross Country Healthcare, Inc. (A) | 116864 | &nbsp;&nbsp;&nbsp;3105076 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;36237 | &nbsp;&nbsp;&nbsp;2233649 |
|  |  | &nbsp;&nbsp;&nbsp;8991346 |
| **Pharmaceuticals – 1.9%** | **Pharmaceuticals – 1.9%** |  |
| Aclaris Therapeutics, Inc. (A) | &nbsp;&nbsp;97669 | &nbsp;&nbsp;&nbsp;1538287 |
| Intra-Cellular Therapies, Inc. (A) | &nbsp;&nbsp;40640 | &nbsp;&nbsp;&nbsp;2150669 |
| Revance Therapeutics, Inc. (A) | &nbsp;&nbsp;40101 | &nbsp;&nbsp;&nbsp;&nbsp;740264 |
| Verona Pharma PLC, ADR (A) | &nbsp;&nbsp;14909 | &nbsp;&nbsp;&nbsp;&nbsp;389572 |
|  |  | &nbsp;&nbsp;&nbsp;4818792 |
|  |  | 61600495 |
| **Industrials – 20.7%** |  |  |
| **Aerospace and defense – 1.4%** | **Aerospace and defense – 1.4%** |  |
| Curtiss-Wright Corp. | &nbsp;&nbsp;20671 | &nbsp;&nbsp;&nbsp;3451850 |
| **Building products – 2.1%** | **Building products – 2.1%** |  |
| The AZEK Company, Inc. (A) | 144479 | &nbsp;&nbsp;&nbsp;2935813 |
| Zurn Elkay Water Solutions Corp. | 112118 | &nbsp;&nbsp;&nbsp;2371296 |
|  |  | &nbsp;&nbsp;&nbsp;5307109 |
| **Commercial services and supplies – 1.6%** | **Commercial services and supplies – 1.6%** |  |
| Aris Water Solution, Inc., Class A (B) | &nbsp;&nbsp;90180 | &nbsp;&nbsp;&nbsp;1299494 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;34899 | &nbsp;&nbsp;&nbsp;2767840 |
|  |  | &nbsp;&nbsp;&nbsp;4067334 |
| **Construction and engineering – 6.1%** | **Construction and engineering – 6.1%** |  |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;41290 | &nbsp;&nbsp;&nbsp;2359311 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;30025 | &nbsp;&nbsp;&nbsp;3455277 |
| Fluor Corp. (A) | 179050 | &nbsp;&nbsp;&nbsp;6205873 |
| WillScot Mobile Mini Holdings Corp. (A) | &nbsp;&nbsp;74280 | &nbsp;&nbsp;&nbsp;3355228 |
|  |  | 15375689 |
| **Electrical equipment – 2.1%** | **Electrical equipment – 2.1%** |  |
| Acuity Brands, Inc. | &nbsp;&nbsp;23790 | &nbsp;&nbsp;&nbsp;3939862 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 131 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Stock Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;55200 | $&nbsp;&nbsp;&nbsp;&nbsp;1361784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5301646 |
| **Machinery – 0.9%** | **Machinery – 0.9%** |  |
| The Middleby Corp. (A) | &nbsp;&nbsp;17115 | &nbsp;&nbsp;&nbsp;&nbsp;2291699 |
| **Professional services – 1.4%** | **Professional services – 1.4%** |  |
| TriNet Group, Inc. (A) | &nbsp;&nbsp;52985 | &nbsp;&nbsp;&nbsp;&nbsp;3592383 |
| **Trading companies and distributors – 5.1%** | **Trading companies and distributors – 5.1%** |  |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;55615 | &nbsp;&nbsp;&nbsp;&nbsp;7009159 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;41858 | &nbsp;&nbsp;&nbsp;&nbsp;2188336 |
| WESCO International, Inc. (A) | &nbsp;&nbsp;29820 | &nbsp;&nbsp;&nbsp;&nbsp;3733464 |
|  |  | &nbsp;&nbsp;&nbsp;12930959 |
|  |  | &nbsp;&nbsp;&nbsp;52318669 |
| **Information technology – 16.7%** |  |  |
| **Communications equipment – 2.0%** | **Communications equipment – 2.0%** |  |
| Calix, Inc. (A) | &nbsp;&nbsp;73763 | &nbsp;&nbsp;&nbsp;&nbsp;5047602 |
| **Electronic equipment, instruments and components – 1.2%** | **Electronic equipment, instruments and components – 1.2%** |  |
| Novanta, Inc. (A) | &nbsp;&nbsp;22115 | &nbsp;&nbsp;&nbsp;&nbsp;3004765 |
| **IT services – 4.2%** | **IT services – 4.2%** |  |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;26527 | &nbsp;&nbsp;&nbsp;&nbsp;4494470 |
| Perficient, Inc. (A) | &nbsp;&nbsp;18540 | &nbsp;&nbsp;&nbsp;&nbsp;1294648 |
| Verra Mobility Corp. (A) | 356606 | &nbsp;&nbsp;&nbsp;&nbsp;4931861 |
|  |  | &nbsp;&nbsp;&nbsp;10720979 |
| **Semiconductors and semiconductor equipment – 3.1%** | **Semiconductors and semiconductor equipment – 3.1%** |  |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;43831 | &nbsp;&nbsp;&nbsp;&nbsp;2843755 |
| MKS Instruments, Inc. | &nbsp;&nbsp;19063 | &nbsp;&nbsp;&nbsp;&nbsp;1615208 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;34256 | &nbsp;&nbsp;&nbsp;&nbsp;3259801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7718764 |
| **Software – 6.2%** | **Software – 6.2%** |  |
| Five9, Inc. (A) | &nbsp;&nbsp;38854 | &nbsp;&nbsp;&nbsp;&nbsp;2636632 |
| Jamf Holding Corp. (A) | 162192 | &nbsp;&nbsp;&nbsp;&nbsp;3454690 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;25093 | &nbsp;&nbsp;&nbsp;&nbsp;3046290 |
| PowerSchool Holdings, Inc., Class A (A) | 156711 | &nbsp;&nbsp;&nbsp;&nbsp;3616890 |
| RingCentral, Inc., Class A (A) | &nbsp;&nbsp;85034 | &nbsp;&nbsp;&nbsp;&nbsp;3010204 |
|  |  | &nbsp;&nbsp;&nbsp;15764706 |
|  |  | &nbsp;&nbsp;&nbsp;42256816 |
| **Materials – 3.1%** |  |  |
| **Chemicals – 3.1%** | **Chemicals – 3.1%** |  |
| Cabot Corp. | &nbsp;&nbsp;72185 | &nbsp;&nbsp;&nbsp;&nbsp;4824845 |
| Livent Corp. (A) | 148847 | &nbsp;&nbsp;&nbsp;&nbsp;2957590 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7782435 |
| **Real estate – 2.7%** |  |  |
| **Equity real estate investment trusts – 2.7%** | **Equity real estate investment trusts – 2.7%** |  |
| Phillips Edison & Company, Inc. | 100654 | &nbsp;&nbsp;&nbsp;&nbsp;3204823 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;44794 | &nbsp;&nbsp;&nbsp;&nbsp;3663253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6868076 |
| TOTAL COMMON STOCKS (Cost $253,612,809) | TOTAL COMMON STOCKS (Cost $253,612,809) | $248613670 |
| **EXCHANGE-TRADED FUNDS – 0.8%** | **EXCHANGE-TRADED FUNDS – 0.8%** |  |
| iShares Russell 2000 Growth ETF (B) | &nbsp;&nbsp;&nbsp;8767 | &nbsp;&nbsp;&nbsp;&nbsp;1880697 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $1,813,132) | TOTAL EXCHANGE-TRADED FUNDS (Cost $1,813,132) | $&nbsp;&nbsp;&nbsp;&nbsp;1880697 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.5%** | **SHORT-TERM INVESTMENTS – 2.5%** |  |
| **Short-term funds – 2.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | 630107 | $&nbsp;&nbsp;&nbsp;&nbsp;6298427 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,298,371) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,298,371) | $&nbsp;&nbsp;&nbsp;&nbsp;6298427 |
| **Total Investments (Small Cap Stock Trust)<br> (Cost $261,724,312) – 101.8%** | **Total Investments (Small Cap Stock Trust)<br> (Cost $261,724,312) – 101.8%** | $**256792794** |
| **Other assets and liabilities, net – (1.8%)** | **Other assets and liabilities, net – (1.8%)** | &nbsp;&nbsp;&nbsp;**(4418292)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**252374502** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Cap Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 97.0%** | **COMMON STOCKS – 97.0%** |  |
| **Communication services – 3.1%** |  |  |
| **Interactive media and services – 2.5%** | **Interactive media and services – 2.5%** |  |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100850 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5316812 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596879 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10913691 |
| **Media – 0.6%** | **Media – 0.6%** |  |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345688 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13259379 |
| **Consumer discretionary – 9.0%** |  |  |
| **Auto components – 1.5%** | **Auto components – 1.5%** |  |
| Gentherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767857 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4964083 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6731940 |
| **Hotels, restaurants and leisure – 1.1%** | **Hotels, restaurants and leisure – 1.1%** |  |
| Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907248 |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4658154 |
| **Household durables – 3.1%** | **Household durables – 3.1%** |  |
| Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272104 |
| Sonos, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531705 |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5413259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13217068 |
| **Specialty retail – 1.6%** | **Specialty retail – 1.6%** |  |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563862 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6179880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6743742 |
| **Textiles, apparel and luxury goods – 1.7%** | **Textiles, apparel and luxury goods – 1.7%** |  |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581177 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6992291 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7573468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38924372 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 132 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples – 4.0%** |  |  |
| **Beverages – 1.0%** | **Beverages – 1.0%** |  |
| C&C Group PLC (A) | 1936999 | $&nbsp;&nbsp;&nbsp;&nbsp;4111567 |
| **Food and staples retailing – 1.1%** | **Food and staples retailing – 1.1%** |  |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;126556 | &nbsp;&nbsp;&nbsp;&nbsp;4898983 |
| **Food products – 0.9%** | **Food products – 0.9%** |  |
| Cranswick PLC | &nbsp;&nbsp;&nbsp;&nbsp;93079 | &nbsp;&nbsp;&nbsp;&nbsp;3451159 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381168 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3832327 |
| **Household products – 1.0%** | **Household products – 1.0%** |  |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71685 | &nbsp;&nbsp;&nbsp;&nbsp;4367050 |
|  |  | &nbsp;&nbsp;&nbsp;17209927 |
| **Energy – 2.5%** |  |  |
| **Oil, gas and consumable fuels – 2.5%** | **Oil, gas and consumable fuels – 2.5%** |  |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37914 | &nbsp;&nbsp;&nbsp;&nbsp;5187014 |
| Sitio Royalties Corp., Class A (B) | &nbsp;&nbsp;195404 | &nbsp;&nbsp;&nbsp;&nbsp;5637405 |
|  |  | &nbsp;&nbsp;&nbsp;10824419 |
| **Financials – 24.9%** |  |  |
| **Banks – 16.8%** | **Banks – 16.8%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98717 | &nbsp;&nbsp;&nbsp;&nbsp;5240886 |
| Banc of California, Inc. | &nbsp;&nbsp;368188 | &nbsp;&nbsp;&nbsp;&nbsp;5865235 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;145944 | &nbsp;&nbsp;&nbsp;&nbsp;4363726 |
| Cadence Bank | &nbsp;&nbsp;239747 | &nbsp;&nbsp;&nbsp;&nbsp;5912161 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;292302 | &nbsp;&nbsp;&nbsp;&nbsp;5042210 |
| First Busey Corp. | &nbsp;&nbsp;233081 | &nbsp;&nbsp;&nbsp;&nbsp;5761762 |
| First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659773 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;145026 | &nbsp;&nbsp;&nbsp;&nbsp;5605255 |
| Flushing Financial Corp. | &nbsp;&nbsp;227867 | &nbsp;&nbsp;&nbsp;&nbsp;4416062 |
| Hancock Whitney Corp. | &nbsp;&nbsp;131147 | &nbsp;&nbsp;&nbsp;&nbsp;6346203 |
| International Bancshares Corp. | &nbsp;&nbsp;116775 | &nbsp;&nbsp;&nbsp;&nbsp;5343624 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;136964 | &nbsp;&nbsp;&nbsp;&nbsp;5762075 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;161616 | &nbsp;&nbsp;&nbsp;&nbsp;5040803 |
| Synovus Financial Corp. | &nbsp;&nbsp;171267 | &nbsp;&nbsp;&nbsp;&nbsp;6431076 |
| Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445990 |
|  |  | &nbsp;&nbsp;&nbsp;72236841 |
| **Capital markets – 0.5%** | **Capital markets – 0.5%** |  |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27150 | &nbsp;&nbsp;&nbsp;&nbsp;2366394 |
| **Insurance – 6.5%** | **Insurance – 6.5%** |  |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;95725 | &nbsp;&nbsp;&nbsp;&nbsp;5959839 |
| Kemper Corp. | &nbsp;&nbsp;148727 | &nbsp;&nbsp;&nbsp;&nbsp;7317368 |
| ProAssurance Corp. | &nbsp;&nbsp;312488 | &nbsp;&nbsp;&nbsp;&nbsp;5459165 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739436 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;527953 | &nbsp;&nbsp;&nbsp;&nbsp;3114923 |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3741 | &nbsp;&nbsp;&nbsp;&nbsp;5291009 |
|  |  | &nbsp;&nbsp;&nbsp;27881740 |
| **Thrifts and mortgage finance – 1.1%** | **Thrifts and mortgage finance – 1.1%** |  |
| NMI Holdings, Inc., Class A (A) | &nbsp;&nbsp;231829 | &nbsp;&nbsp;&nbsp;&nbsp;4845226 |
|  |  | 107330201 |
| **Health care – 5.2%** |  |  |
| **Health care equipment and supplies – 3.5%** | **Health care equipment and supplies – 3.5%** |  |
| Haemonetics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;60884 | &nbsp;&nbsp;&nbsp;&nbsp;4788527 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36336 | &nbsp;&nbsp;&nbsp;&nbsp;5722193 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;80486 | &nbsp;&nbsp;&nbsp;&nbsp;4512850 |
|  |  | &nbsp;&nbsp;&nbsp;15023570 |
| **Health care providers and services – 0.9%** | **Health care providers and services – 0.9%** |  |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;189528 | &nbsp;&nbsp;&nbsp;&nbsp;3701482 |
| **Life sciences tools and services – 0.8%** | **Life sciences tools and services – 0.8%** |  |
| Syneos Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;96633 | &nbsp;&nbsp;&nbsp;&nbsp;3544498 |
|  |  | &nbsp;&nbsp;&nbsp;22269550 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrials – 18.4%** |  |  |
| **Aerospace and defense – 1.2%** | **Aerospace and defense – 1.2%** |  |
| Hexcel Corp. | &nbsp;&nbsp;78168 | $&nbsp;&nbsp;&nbsp;4600187 |
| Leonardo DRS, Inc. (A) | &nbsp;&nbsp;32572 | &nbsp;&nbsp;&nbsp;&nbsp;416270 |
|  |  | &nbsp;&nbsp;&nbsp;5016457 |
| **Building products – 1.7%** | **Building products – 1.7%** |  |
| American Woodmark Corp. (A) | &nbsp;&nbsp;89280 | &nbsp;&nbsp;&nbsp;4362221 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;&nbsp;374642 |
| The AZEK Company, Inc. (A) | 123111 | &nbsp;&nbsp;&nbsp;2501616 |
|  |  | &nbsp;&nbsp;&nbsp;7238479 |
| **Commercial services and supplies – 5.2%** | **Commercial services and supplies – 5.2%** |  |
| ACCO Brands Corp. | 700854 | &nbsp;&nbsp;&nbsp;3917774 |
| Brady Corp., Class A | &nbsp;&nbsp;31332 | &nbsp;&nbsp;&nbsp;1475737 |
| BrightView Holdings, Inc. (A) | 396785 | &nbsp;&nbsp;&nbsp;2733849 |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;&nbsp;3811 | &nbsp;&nbsp;&nbsp;&nbsp;434911 |
| SP Plus Corp. (A) | 220171 | &nbsp;&nbsp;&nbsp;7644337 |
| UniFirst Corp. | &nbsp;&nbsp;31575 | &nbsp;&nbsp;&nbsp;6093659 |
|  |  | 22300267 |
| **Electrical equipment – 1.0%** | **Electrical equipment – 1.0%** |  |
| Thermon Group Holdings, Inc. (A) | 217856 | &nbsp;&nbsp;&nbsp;4374548 |
| **Machinery – 1.9%** | **Machinery – 1.9%** |  |
| John Bean Technologies Corp. | &nbsp;&nbsp;44413 | &nbsp;&nbsp;&nbsp;4056239 |
| Luxfer Holdings PLC | 306831 | &nbsp;&nbsp;&nbsp;4209721 |
|  |  | &nbsp;&nbsp;&nbsp;8265960 |
| **Professional services – 4.5%** | **Professional services – 4.5%** |  |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;82521 | &nbsp;&nbsp;&nbsp;5991025 |
| ICF International, Inc. | &nbsp;&nbsp;48564 | &nbsp;&nbsp;&nbsp;4810264 |
| Science Applications International Corp. | &nbsp;&nbsp;45109 | &nbsp;&nbsp;&nbsp;5003941 |
| Sterling Check Corp. (A)(B) | 248412 | &nbsp;&nbsp;&nbsp;3842934 |
|  |  | 19648164 |
| **Trading companies and distributors – 2.9%** | **Trading companies and distributors – 2.9%** |  |
| Air Lease Corp. | 168009 | &nbsp;&nbsp;&nbsp;6454906 |
| GATX Corp. | &nbsp;&nbsp;55894 | &nbsp;&nbsp;&nbsp;5943768 |
|  |  | 12398674 |
|  |  | 79242549 |
| **Information technology – 10.6%** |  |  |
| **Electronic equipment, instruments and components – 4.9%** | **Electronic equipment, instruments and components – 4.9%** |  |
| Belden, Inc. | &nbsp;&nbsp;82999 | &nbsp;&nbsp;&nbsp;5967628 |
| CTS Corp. | 141884 | &nbsp;&nbsp;&nbsp;5593067 |
| ePlus, Inc. (A) | 107805 | &nbsp;&nbsp;&nbsp;4773605 |
| National Instruments Corp. | 129497 | &nbsp;&nbsp;&nbsp;4778439 |
|  |  | 21112739 |
| **IT services – 2.2%** | **IT services – 2.2%** |  |
| Concentrix Corp. | &nbsp;&nbsp;&nbsp;4682 | &nbsp;&nbsp;&nbsp;&nbsp;623455 |
| Perficient, Inc. (A) | &nbsp;&nbsp;40351 | &nbsp;&nbsp;&nbsp;2817710 |
| WNS Holdings, Ltd., ADR (A) | &nbsp;&nbsp;76978 | &nbsp;&nbsp;&nbsp;6157470 |
|  |  | &nbsp;&nbsp;&nbsp;9598635 |
| **Semiconductors and semiconductor equipment – 0.3%** | **Semiconductors and semiconductor equipment – 0.3%** |  |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;21293 | &nbsp;&nbsp;&nbsp;1449840 |
| **Software – 3.2%** | **Software – 3.2%** |  |
| ACI Worldwide, Inc. (A) | 258581 | &nbsp;&nbsp;&nbsp;5947363 |
| Progress Software Corp. | 155919 | &nbsp;&nbsp;&nbsp;7866114 |
|  |  | 13813477 |
|  |  | 45974691 |
| **Materials – 8.8%** |  |  |
| **Chemicals – 6.5%** | **Chemicals – 6.5%** |  |
| Axalta Coating Systems, Ltd. (A) | 191003 | &nbsp;&nbsp;&nbsp;4864846 |
| Element Solutions, Inc. | 442956 | &nbsp;&nbsp;&nbsp;8057370 |
| HB Fuller Company | &nbsp;&nbsp;70056 | &nbsp;&nbsp;&nbsp;5017411 |
| Mativ Holdings, Inc. | 305448 | &nbsp;&nbsp;&nbsp;6383866 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 133 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Cap Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Orion Engineered Carbons SA | &nbsp;&nbsp;&nbsp;&nbsp;192420 | $&nbsp;&nbsp;&nbsp;&nbsp;3427000 |
|  |  | &nbsp;&nbsp;&nbsp;27750493 |
| **Containers and packaging – 2.3%** | **Containers and packaging – 2.3%** |  |
| Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736279 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;336368 | &nbsp;&nbsp;&nbsp;&nbsp;9330848 |
|  |  | &nbsp;&nbsp;&nbsp;10067127 |
|  |  | &nbsp;&nbsp;&nbsp;37817620 |
| **Real estate – 7.8%** |  |  |
| **Equity real estate investment trusts – 7.8%** | **Equity real estate investment trusts – 7.8%** |  |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;222088 | &nbsp;&nbsp;&nbsp;&nbsp;4159708 |
| Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;80609 | &nbsp;&nbsp;&nbsp;&nbsp;4729330 |
| Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363745 |
| LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;323018 | &nbsp;&nbsp;&nbsp;&nbsp;3236640 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;358863 | &nbsp;&nbsp;&nbsp;&nbsp;4805176 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;163690 | &nbsp;&nbsp;&nbsp;&nbsp;5211890 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;108486 | &nbsp;&nbsp;&nbsp;&nbsp;4772299 |
| RPT Realty | &nbsp;&nbsp;&nbsp;&nbsp;641504 | &nbsp;&nbsp;&nbsp;&nbsp;6440700 |
|  |  | &nbsp;&nbsp;&nbsp;33719488 |
| **Utilities – 2.7%** |  |  |
| **Electric utilities – 0.9%** | **Electric utilities – 0.9%** |  |
| Portland General Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;82935 | &nbsp;&nbsp;&nbsp;&nbsp;4063815 |
| **Gas utilities – 1.8%** | **Gas utilities – 1.8%** |  |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;88589 | &nbsp;&nbsp;&nbsp;&nbsp;4395786 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40882 | &nbsp;&nbsp;&nbsp;&nbsp;2815135 |
| UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7519232 |
|  |  | &nbsp;&nbsp;&nbsp;11583047 |
| TOTAL COMMON STOCKS (Cost $405,572,640) | TOTAL COMMON STOCKS (Cost $405,572,640) | $418155243 |
| **SHORT-TERM INVESTMENTS – 4.6%** | **SHORT-TERM INVESTMENTS – 4.6%** |  |
| **Short-term funds – 1.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;609076 | &nbsp;&nbsp;&nbsp;&nbsp;6088199 |
| **Repurchase agreement – 3.2%** |  |  |
| Bank of America Tri-Party Repurchase Agreement dated 12-30-22 at 4.300% to be repurchased at $14,006,689 on 1-3-23, collateralized by $14,473,000 Federal Farm Credit Bank, 4.125% due 12-12-25 (valued at $14,280,835) | $14000000 | &nbsp;&nbsp;&nbsp;14000000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $20,088,200) | TOTAL SHORT-TERM INVESTMENTS (Cost $20,088,200) | $&nbsp;&nbsp;&nbsp;20088199 |
| **Total Investments (Small Cap Value Trust)<br> (Cost $425,660,840) – 101.6%** | **Total Investments (Small Cap Value Trust)<br> (Cost $425,660,840) – 101.6%** | $**438243442** |
| **Other assets and liabilities, net – (1.6%)** | **Other assets and liabilities, net – (1.6%)** | &nbsp;&nbsp;&nbsp;**(7048445)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**431194997** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Small Company Value Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.2%** | **COMMON STOCKS – 96.2%** |  |
| **Communication services – 0.7%** |  |  |
| **Media – 0.7%** | **Media – 0.7%** |  |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80296 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167016 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663640 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830656 |
| **Consumer discretionary – 8.7%** |  |  |
| **Auto components – 1.5%** | **Auto components – 1.5%** |  |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747562 |
| LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553313 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995321 |
| **Distributors – 0.2%** | **Distributors – 0.2%** |  |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249120 |
| **Diversified consumer services – 1.2%** | **Diversified consumer services – 1.2%** |  |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527867 |
| **Hotels, restaurants and leisure – 1.8%** | **Hotels, restaurants and leisure – 1.8%** |  |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460595 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787621 |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301784 |
| **Household durables – 1.0%** | **Household durables – 1.0%** |  |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330778 |
| Meritage Homes Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932142 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262920 |
| **Internet and direct marketing retail – 0.3%** | **Internet and direct marketing retail – 0.3%** |  |
| Farfetch, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251735 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406632 |
| **Leisure products – 0.1%** | **Leisure products – 0.1%** |  |
| Peloton Interactive, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134980 |
| **Specialty retail – 1.9%** | **Specialty retail – 1.9%** |  |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337780 |
| Floor & Decor Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76593 |
| Hibbett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429581 |
| LL Flooring Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195020 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613274 |
| Petco Health & Wellness Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296629 |
| The Children's Place, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189384 |
| Warby Parker, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503934 |
| **Textiles, apparel and luxury goods – 0.7%** | **Textiles, apparel and luxury goods – 0.7%** |  |
| Steven Madden, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11276064 |
| **Consumer staples – 2.8%** |  |  |
| **Beverages – 0.8%** | **Beverages – 0.8%** |  |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009349 |
| **Food products – 1.9%** | **Food products – 1.9%** |  |
| Nomad Foods, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128548 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679387 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638562 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446497 |
| **Personal products – 0.1%** | **Personal products – 0.1%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593815 |
| **Energy – 6.9%** |  |  |
| **Energy equipment and services – 3.7%** | **Energy equipment and services – 3.7%** |  |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390292 |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569200 |
| Enerflex, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584600 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 134 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy equipment and services (continued)** | **Energy equipment and services (continued)** |  |
| Expro Group Holdings NV (A) | 18900 | $&nbsp;&nbsp;&nbsp;&nbsp;342657 |
| Liberty Energy, Inc. | 56484 | &nbsp;&nbsp;&nbsp;&nbsp;904309 |
|  |  | &nbsp;&nbsp;&nbsp;4791058 |
| **Oil, gas and consumable fuels – 3.2%** | **Oil, gas and consumable fuels – 3.2%** |  |
| International Seaways, Inc. | &nbsp;&nbsp;6896 | &nbsp;&nbsp;&nbsp;&nbsp;255290 |
| Magnolia Oil & Gas Corp., Class A | 72107 | &nbsp;&nbsp;&nbsp;1690909 |
| Matador Resources Company | 38849 | &nbsp;&nbsp;&nbsp;2223714 |
|  |  | &nbsp;&nbsp;&nbsp;4169913 |
|  |  | &nbsp;&nbsp;&nbsp;8960971 |
| **Financials – 27.2%** |  |  |
| **Banks – 16.5%** | **Banks – 16.5%** |  |
| BankUnited, Inc. | 44391 | &nbsp;&nbsp;&nbsp;1507962 |
| Cadence Bank | 10800 | &nbsp;&nbsp;&nbsp;&nbsp;266328 |
| Columbia Banking System, Inc. | 38910 | &nbsp;&nbsp;&nbsp;1172358 |
| CrossFirst Bankshares, Inc. (A) | 36610 | &nbsp;&nbsp;&nbsp;&nbsp;454330 |
| Eastern Bankshares, Inc. | 37234 | &nbsp;&nbsp;&nbsp;&nbsp;642287 |
| FB Financial Corp. | 32092 | &nbsp;&nbsp;&nbsp;1159805 |
| Glacier Bancorp, Inc. | 18185 | &nbsp;&nbsp;&nbsp;&nbsp;898703 |
| HarborOne Bancorp, Inc. | 54491 | &nbsp;&nbsp;&nbsp;&nbsp;757425 |
| Home BancShares, Inc. | 68368 | &nbsp;&nbsp;&nbsp;1558107 |
| Independent Bank Corp. (Massachusetts) | 12627 | &nbsp;&nbsp;&nbsp;1066098 |
| Live Oak Bancshares, Inc. | 31875 | &nbsp;&nbsp;&nbsp;&nbsp;962625 |
| National Bank Holdings Corp., Class A | 33209 | &nbsp;&nbsp;&nbsp;1397103 |
| Origin Bancorp, Inc. | 20720 | &nbsp;&nbsp;&nbsp;&nbsp;760424 |
| Pinnacle Financial Partners, Inc. | 25682 | &nbsp;&nbsp;&nbsp;1885059 |
| Popular, Inc. | 16862 | &nbsp;&nbsp;&nbsp;1118288 |
| Southern First Bancshares, Inc. (A) | 15118 | &nbsp;&nbsp;&nbsp;&nbsp;691649 |
| Texas Capital Bancshares, Inc. (A) | 17077 | &nbsp;&nbsp;&nbsp;1029914 |
| Towne Bank | 37617 | &nbsp;&nbsp;&nbsp;1160108 |
| Veritex Holdings, Inc. | 12856 | &nbsp;&nbsp;&nbsp;&nbsp;360996 |
| Webster Financial Corp. | 14267 | &nbsp;&nbsp;&nbsp;&nbsp;675400 |
| Western Alliance Bancorp | 29230 | &nbsp;&nbsp;&nbsp;1740939 |
|  |  | 21265908 |
| **Capital markets – 2.3%** | **Capital markets – 2.3%** |  |
| Hercules Capital, Inc. (B) | 27248 | &nbsp;&nbsp;&nbsp;&nbsp;360219 |
| Houlihan Lokey, Inc. | 13722 | &nbsp;&nbsp;&nbsp;1196010 |
| StepStone Group, Inc., Class A | 22711 | &nbsp;&nbsp;&nbsp;&nbsp;571863 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;4674 | &nbsp;&nbsp;&nbsp;&nbsp;894791 |
|  |  | &nbsp;&nbsp;&nbsp;3022883 |
| **Consumer finance – 1.1%** | **Consumer finance – 1.1%** |  |
| Green Dot Corp., Class A (A) | 29949 | &nbsp;&nbsp;&nbsp;&nbsp;473793 |
| NerdWallet, Inc., Class A (A)(B) | 21410 | &nbsp;&nbsp;&nbsp;&nbsp;205536 |
| PRA Group, Inc. (A) | 11224 | &nbsp;&nbsp;&nbsp;&nbsp;379147 |
| PROG Holdings, Inc. (A) | 20294 | &nbsp;&nbsp;&nbsp;&nbsp;342766 |
|  |  | &nbsp;&nbsp;&nbsp;1401242 |
| **Insurance – 2.5%** | **Insurance – 2.5%** |  |
| BRP Group, Inc., Class A (A) | 40961 | &nbsp;&nbsp;&nbsp;1029760 |
| James River Group Holdings, Ltd. | 32029 | &nbsp;&nbsp;&nbsp;&nbsp;669726 |
| Palomar Holdings, Inc. (A) | 11568 | &nbsp;&nbsp;&nbsp;&nbsp;522411 |
| ProAssurance Corp. | 16190 | &nbsp;&nbsp;&nbsp;&nbsp;282839 |
| Ryan Specialty Holdings, Inc. (A) | 18034 | &nbsp;&nbsp;&nbsp;&nbsp;748591 |
|  |  | &nbsp;&nbsp;&nbsp;3253327 |
| **Mortgage real estate investment trusts – 1.2%** | **Mortgage real estate investment trusts – 1.2%** |  |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 34227 | &nbsp;&nbsp;&nbsp;&nbsp;991898 |
| PennyMac Mortgage Investment Trust | 50386 | &nbsp;&nbsp;&nbsp;&nbsp;624283 |
|  |  | &nbsp;&nbsp;&nbsp;1616181 |
| **Thrifts and mortgage finance – 3.6%** | **Thrifts and mortgage finance – 3.6%** |  |
| PennyMac Financial Services, Inc. | 22546 | &nbsp;&nbsp;&nbsp;1277456 |
| Radian Group, Inc. | 52790 | &nbsp;&nbsp;&nbsp;1006705 |
| Walker & Dunlop, Inc. | 10679 | &nbsp;&nbsp;&nbsp;&nbsp;838088 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thrifts and mortgage finance (continued)** | **Thrifts and mortgage finance (continued)** |  |
| WSFS Financial Corp. | &nbsp;&nbsp;33439 | $&nbsp;&nbsp;&nbsp;1516124 |
|  |  | &nbsp;&nbsp;&nbsp;4638373 |
|  |  | 35197914 |
| **Health care – 10.9%** |  |  |
| **Biotechnology – 4.5%** | **Biotechnology – 4.5%** |  |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;12516 | &nbsp;&nbsp;&nbsp;&nbsp;647202 |
| Ascendis Pharma A/S, ADR (A) | &nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;598437 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;&nbsp;8655 | &nbsp;&nbsp;&nbsp;&nbsp;379176 |
| CRISPR Therapeutics AG (A) | &nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;239835 |
| Icosavax, Inc. (A)(B) | &nbsp;&nbsp;22952 | &nbsp;&nbsp;&nbsp;&nbsp;182239 |
| Insmed, Inc. (A) | &nbsp;&nbsp;32442 | &nbsp;&nbsp;&nbsp;&nbsp;648191 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;13669 | &nbsp;&nbsp;&nbsp;&nbsp;516278 |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;667707 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;13398 | &nbsp;&nbsp;&nbsp;&nbsp;334414 |
| MacroGenics, Inc. (A) | &nbsp;&nbsp;28651 | &nbsp;&nbsp;&nbsp;&nbsp;192248 |
| Nkarta, Inc. (A) | &nbsp;&nbsp;27412 | &nbsp;&nbsp;&nbsp;&nbsp;164198 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;333395 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;170280 |
| Xencor, Inc. (A) | &nbsp;&nbsp;19956 | &nbsp;&nbsp;&nbsp;&nbsp;519654 |
| Zentalis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;11583 | &nbsp;&nbsp;&nbsp;&nbsp;233282 |
|  |  | &nbsp;&nbsp;&nbsp;5826536 |
| **Health care equipment and supplies – 2.2%** | **Health care equipment and supplies – 2.2%** |  |
| Atrion Corp. | &nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp;672459 |
| Embecta Corp. | &nbsp;&nbsp;20586 | &nbsp;&nbsp;&nbsp;&nbsp;520620 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;52133 | &nbsp;&nbsp;&nbsp;&nbsp;350855 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp;295568 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;11018 | &nbsp;&nbsp;&nbsp;&nbsp;943912 |
|  |  | &nbsp;&nbsp;&nbsp;2783414 |
| **Health care providers and services – 3.2%** | **Health care providers and services – 3.2%** |  |
| Agiliti, Inc. (A) | &nbsp;&nbsp;34795 | &nbsp;&nbsp;&nbsp;&nbsp;567506 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;37100 | &nbsp;&nbsp;&nbsp;&nbsp;436296 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;16994 | &nbsp;&nbsp;&nbsp;&nbsp;511349 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;59021 | &nbsp;&nbsp;&nbsp;1465491 |
| The Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;9514 | &nbsp;&nbsp;&nbsp;&nbsp;900120 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;20343 | &nbsp;&nbsp;&nbsp;&nbsp;223366 |
|  |  | &nbsp;&nbsp;&nbsp;4104128 |
| **Health care technology – 0.8%** | **Health care technology – 0.8%** |  |
| MultiPlan Corp. (A) | 178497 | &nbsp;&nbsp;&nbsp;&nbsp;205272 |
| Phreesia, Inc. (A) | &nbsp;&nbsp;25326 | &nbsp;&nbsp;&nbsp;&nbsp;819549 |
|  |  | &nbsp;&nbsp;&nbsp;1024821 |
| **Life sciences tools and services – 0.0%** | **Life sciences tools and services – 0.0%** |  |
| Pacific Biosciences of California, Inc. (A) | &nbsp;&nbsp;&nbsp;8116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66389 |
| **Pharmaceuticals – 0.2%** | **Pharmaceuticals – 0.2%** |  |
| Arvinas, Inc. (A) | &nbsp;&nbsp;&nbsp;7431 | &nbsp;&nbsp;&nbsp;&nbsp;254215 |
|  |  | 14059503 |
| **Industrials – 14.3%** |  |  |
| **Aerospace and defense – 1.1%** | **Aerospace and defense – 1.1%** |  |
| Parsons Corp. (A) | &nbsp;&nbsp;13828 | &nbsp;&nbsp;&nbsp;&nbsp;639545 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;78121 | &nbsp;&nbsp;&nbsp;&nbsp;821833 |
|  |  | &nbsp;&nbsp;&nbsp;1461378 |
| **Airlines – 0.4%** | **Airlines – 0.4%** |  |
| Allegiant Travel Company (A) | &nbsp;&nbsp;&nbsp;7372 | &nbsp;&nbsp;&nbsp;&nbsp;501222 |
| **Building products – 2.0%** | **Building products – 2.0%** |  |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;20710 | &nbsp;&nbsp;&nbsp;&nbsp;199852 |
| UFP Industries, Inc. | &nbsp;&nbsp;24890 | &nbsp;&nbsp;&nbsp;1972533 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;18100 | &nbsp;&nbsp;&nbsp;&nbsp;382815 |
|  |  | &nbsp;&nbsp;&nbsp;2555200 |
| **Commercial services and supplies – 1.9%** | **Commercial services and supplies – 1.9%** |  |
| Aris Water Solution, Inc., Class A | &nbsp;&nbsp;33537 | &nbsp;&nbsp;&nbsp;&nbsp;483268 |
| Brady Corp., Class A | &nbsp;&nbsp;17286 | &nbsp;&nbsp;&nbsp;&nbsp;814171 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;4082 | &nbsp;&nbsp;&nbsp;&nbsp;588584 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 135 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| Stericycle, Inc. (A) | &nbsp;&nbsp;6603 | $&nbsp;&nbsp;&nbsp;&nbsp;329424 |
| UniFirst Corp. | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;270186 |
|  |  | &nbsp;&nbsp;&nbsp;2485633 |
| **Construction and engineering – 0.6%** | **Construction and engineering – 0.6%** |  |
| Valmont Industries, Inc. | &nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp;761202 |
| **Electrical equipment – 0.1%** | **Electrical equipment – 0.1%** |  |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;5796 | &nbsp;&nbsp;&nbsp;&nbsp;142987 |
| **Machinery – 4.5%** | **Machinery – 4.5%** |  |
| Alamo Group, Inc. | &nbsp;&nbsp;3987 | &nbsp;&nbsp;&nbsp;&nbsp;564559 |
| CIRCOR International, Inc. (A) | 23214 | &nbsp;&nbsp;&nbsp;&nbsp;556207 |
| Enerpac Tool Group Corp. | 10452 | &nbsp;&nbsp;&nbsp;&nbsp;266003 |
| Esab Corp. | 11411 | &nbsp;&nbsp;&nbsp;&nbsp;535404 |
| ESCO Technologies, Inc. | 11103 | &nbsp;&nbsp;&nbsp;&nbsp;971957 |
| Helios Technologies, Inc. | 17044 | &nbsp;&nbsp;&nbsp;&nbsp;927875 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp;653172 |
| SPX Technologies, Inc. (A) | 15259 | &nbsp;&nbsp;&nbsp;1001753 |
| The Shyft Group, Inc. | 14400 | &nbsp;&nbsp;&nbsp;&nbsp;357984 |
|  |  | &nbsp;&nbsp;&nbsp;5834914 |
| **Professional services – 0.3%** | **Professional services – 0.3%** |  |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;2899 | &nbsp;&nbsp;&nbsp;&nbsp;460361 |
| **Road and rail – 0.9%** | **Road and rail – 0.9%** |  |
| Landstar System, Inc. | &nbsp;&nbsp;6857 | &nbsp;&nbsp;&nbsp;1117005 |
| **Trading companies and distributors – 2.5%** | **Trading companies and distributors – 2.5%** |  |
| Beacon Roofing Supply, Inc. (A) | 18009 | &nbsp;&nbsp;&nbsp;&nbsp;950695 |
| Herc Holdings, Inc. | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;315768 |
| McGrath RentCorp | &nbsp;&nbsp;9086 | &nbsp;&nbsp;&nbsp;&nbsp;897152 |
| Univar Solutions, Inc. (A) | 32373 | &nbsp;&nbsp;&nbsp;1029461 |
|  |  | &nbsp;&nbsp;&nbsp;3193076 |
|  |  | 18512978 |
| **Information technology – 5.8%** |  |  |
| **Communications equipment – 0.1%** | **Communications equipment – 0.1%** |  |
| Harmonic, Inc. (A) | &nbsp;&nbsp;9644 | &nbsp;&nbsp;&nbsp;&nbsp;126336 |
| **Electronic equipment, instruments and components – 2.8%** | **Electronic equipment, instruments and components – 2.8%** |  |
| Belden, Inc. | 16701 | &nbsp;&nbsp;&nbsp;1200802 |
| Knowles Corp. (A) | 24776 | &nbsp;&nbsp;&nbsp;&nbsp;406822 |
| Littelfuse, Inc. | &nbsp;&nbsp;6041 | &nbsp;&nbsp;&nbsp;1330228 |
| Vontier Corp. | 34300 | &nbsp;&nbsp;&nbsp;&nbsp;663019 |
|  |  | &nbsp;&nbsp;&nbsp;3600871 |
| **IT services – 0.5%** | **IT services – 0.5%** |  |
| Conduent, Inc. (A) | 70400 | &nbsp;&nbsp;&nbsp;&nbsp;285120 |
| Payoneer Global, Inc. (A) | 74329 | &nbsp;&nbsp;&nbsp;&nbsp;406580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;691700 |
| **Semiconductors and semiconductor equipment – 1.1%** | **Semiconductors and semiconductor equipment – 1.1%** |  |
| Entegris, Inc. | &nbsp;&nbsp;3962 | &nbsp;&nbsp;&nbsp;&nbsp;259868 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;7186 | &nbsp;&nbsp;&nbsp;&nbsp;466228 |
| MaxLinear, Inc. (A) | &nbsp;&nbsp;7621 | &nbsp;&nbsp;&nbsp;&nbsp;258733 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;5749 | &nbsp;&nbsp;&nbsp;&nbsp;391449 |
|  |  | &nbsp;&nbsp;&nbsp;1376278 |
| **Software – 1.3%** | **Software – 1.3%** |  |
| DoubleVerify Holdings, Inc. (A) | 15900 | &nbsp;&nbsp;&nbsp;&nbsp;349164 |
| nCino, Inc. (A) | 14629 | &nbsp;&nbsp;&nbsp;&nbsp;386791 |
| Paycor HCM, Inc. (A) | 26062 | &nbsp;&nbsp;&nbsp;&nbsp;637737 |
| Workiva, Inc. (A) | &nbsp;&nbsp;3789 | &nbsp;&nbsp;&nbsp;&nbsp;318162 |
|  |  | &nbsp;&nbsp;&nbsp;1691854 |
|  |  | &nbsp;&nbsp;&nbsp;7487039 |
| **Materials – 4.6%** |  |  |
| **Chemicals – 1.8%** | **Chemicals – 1.8%** |  |
| Element Solutions, Inc. | 46157 | &nbsp;&nbsp;&nbsp;&nbsp;839596 |
| Orion Engineered Carbons SA | 30691 | &nbsp;&nbsp;&nbsp;&nbsp;546607 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Quaker Chemical Corp. | &nbsp;&nbsp;5109 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2238895 |
| **Containers and packaging – 0.5%** | **Containers and packaging – 0.5%** |  |
| Myers Industries, Inc. | 30710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682683 |
| **Metals and mining – 1.8%** | **Metals and mining – 1.8%** |  |
| Carpenter Technology Corp. | 17162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633964 |
| Constellium SE (A) | 59316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701708 |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941953 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2277625 |
| **Paper and forest products – 0.5%** | **Paper and forest products – 0.5%** |  |
| Clearwater Paper Corp. (A) | 17987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680088 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5879291 |
| **Real estate – 9.0%** |  |  |
| **Equity real estate investment trusts – 7.0%** | **Equity real estate investment trusts – 7.0%** |  |
| Apple Hospitality REIT, Inc. | 77940 | &nbsp;&nbsp;&nbsp;&nbsp;1229893 |
| CubeSmart | 12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507150 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;6950 | &nbsp;&nbsp;&nbsp;&nbsp;1029017 |
| Elme Communities | 38476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684873 |
| Essential Properties Realty Trust, Inc. | 30886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724894 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128136 |
| JBG SMITH Properties | 43649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828458 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;3084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134216 |
| PotlatchDeltic Corp. | 20848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917104 |
| Safehold, Inc. | 19990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572114 |
| Saul Centers, Inc. | 22487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914771 |
| Terreno Realty Corp. | 24150 | &nbsp;&nbsp;&nbsp;&nbsp;1373411 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9044037 |
| **Real estate management and development – 2.0%** | **Real estate management and development – 2.0%** |  |
| eXp World Holdings, Inc. | &nbsp;&nbsp;8549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94723 |
| FirstService Corp. | &nbsp;&nbsp;5339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654294 |
| Opendoor Technologies, Inc. (A) | 86300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100108 |
| The St. Joe Company | 29685 | &nbsp;&nbsp;&nbsp;&nbsp;1147325 |
| Tricon Residential, Inc. | 80888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2620096 |
|  |  | &nbsp;&nbsp;&nbsp;11664133 |
| **Utilities – 5.3%** |  |  |
| **Electric utilities – 3.0%** | **Electric utilities – 3.0%** |  |
| IDACORP, Inc. | 20077 | &nbsp;&nbsp;&nbsp;&nbsp;2165304 |
| MGE Energy, Inc. | 24690 | &nbsp;&nbsp;&nbsp;&nbsp;1738176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3903480 |
| **Gas utilities – 1.1%** | **Gas utilities – 1.1%** |  |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;6276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741698 |
| ONE Gas, Inc. | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1385318 |
| **Multi-utilities – 0.4%** | **Multi-utilities – 0.4%** |  |
| NorthWestern Corp. | &nbsp;&nbsp;8785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521302 |
| **Water utilities – 0.8%** | **Water utilities – 0.8%** |  |
| California Water Service Group | 17909 | &nbsp;&nbsp;&nbsp;&nbsp;1086002 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6896102 |
| TOTAL COMMON STOCKS (Cost $109,881,136) | TOTAL COMMON STOCKS (Cost $109,881,136) | $124358466 |
| **WARRANTS – 0.0%** |  |  |
| Advantage Solutions, Inc. (Expiration Date: 10-28-25; Strike Price: $11.50) (A) | &nbsp;&nbsp;4703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| Triumph Group, Inc. (Expiration Date: 12-19-23; Strike Price: $12.35) (A) | 23436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15702 |
| TOTAL WARRANTS (Cost $6,099) | TOTAL WARRANTS (Cost $6,099) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16266 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 136 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Small Company Value Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 4.5%** | **SHORT-TERM INVESTMENTS – 4.5%** |  |
| **Short-term funds – 4.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;84715 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846797 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (C) | &nbsp;&nbsp;933623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933623 |
| T. Rowe Price Government Reserve Fund, 4.2602% (C) | 3996082 | &nbsp;&nbsp;&nbsp;&nbsp;3996082 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,776,478) | TOTAL SHORT-TERM INVESTMENTS (Cost $5,776,478) | $&nbsp;&nbsp;&nbsp;&nbsp;5776502 |
| **Total Investments (Small Company Value Trust)<br> (Cost $115,663,713) – 100.7%** | **Total Investments (Small Company Value Trust)<br> (Cost $115,663,713) – 100.7%** | $**130151234** |
| **Other assets and liabilities, net – (0.7%)** | **Other assets and liabilities, net – (0.7%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(937960)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**129213274** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### Strategic Equity Allocation Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.6%** | **COMMON STOCKS – 96.6%** |  |
| **Communication services – 5.6%** |  |  |
| **Diversified telecommunication services – 1.2%** | **Diversified telecommunication services – 1.2%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97507 |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14874985 |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80199 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93544 |
| Bezeq The Israeli Telecommunication Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542696 |
| BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431308 |
| Cellnex Telecom SA (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749496 |
| Charge Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26844 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390770 |
| Consolidated Communications Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44471 |
| Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9835751 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94826 |
| Elisa OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149893 |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334158 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146263 |
| HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708058 |
| IDT Corp., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68904 |
| Infrastrutture Wireless Italiane SpA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517101 |
| Iridium Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550057 |
| Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559460 |
| Liberty Latin America, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74487 |
| Liberty Latin America, Ltd., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159433 |
| Lumen Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560946 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199380 |
| Ooma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51756 |
| Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3019131 |
| Radius Global Infrastructure, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147927 |
| Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918450 |
| Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500537 |
| Spark New Zealand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977336 |
| Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163854 |

---

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Diversified telecommunication services (continued)** | **Diversified telecommunication services (continued)** |  |
| Telecom Italia SpA (A) | 1519703 | $&nbsp;&nbsp;&nbsp;&nbsp;352193 |
| Telefonica Deutschland Holding AG | &nbsp;&nbsp;158790 | &nbsp;&nbsp;&nbsp;&nbsp;389990 |
| Telefonica SA (C) | &nbsp;&nbsp;792752 | &nbsp;&nbsp;&nbsp;2869845 |
| Telenor ASA | &nbsp;&nbsp;106723 | &nbsp;&nbsp;&nbsp;&nbsp;997110 |
| Telia Company AB | &nbsp;&nbsp;405437 | &nbsp;&nbsp;&nbsp;1036000 |
| Telstra Corp., Ltd. | &nbsp;&nbsp;616793 | &nbsp;&nbsp;&nbsp;1668080 |
| United Internet AG | &nbsp;&nbsp;&nbsp;&nbsp;14794 | &nbsp;&nbsp;&nbsp;&nbsp;298315 |
| Verizon Communications, Inc. | &nbsp;&nbsp;476543 | 18775794 |
|  |  | 79456855 |
| **Entertainment – 1.0%** | **Entertainment – 1.0%** |  |
| Activision Blizzard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80717 | &nbsp;&nbsp;&nbsp;6178886 |
| Bollore SE | &nbsp;&nbsp;134997 | &nbsp;&nbsp;&nbsp;&nbsp;754417 |
| Capcom Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;842701 |
| Cinemark Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17576 | &nbsp;&nbsp;&nbsp;&nbsp;152208 |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29945 | &nbsp;&nbsp;&nbsp;3658680 |
| Embracer Group AB (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;99127 | &nbsp;&nbsp;&nbsp;&nbsp;450031 |
| IMAX Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7703 | &nbsp;&nbsp;&nbsp;&nbsp;112926 |
| Koei Tecmo Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp;323748 |
| Konami Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14209 | &nbsp;&nbsp;&nbsp;&nbsp;644560 |
| Liberty Media Corp.-Liberty Braves, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69326 |
| Liberty Media Corp.-Liberty Braves, Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;5685 | &nbsp;&nbsp;&nbsp;&nbsp;183228 |
| Lions Gate Entertainment Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;9789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55895 |
| Lions Gate Entertainment Corp., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;18445 | &nbsp;&nbsp;&nbsp;&nbsp;100156 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15753 | &nbsp;&nbsp;&nbsp;1098614 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4169 | &nbsp;&nbsp;&nbsp;&nbsp;187480 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;50523 | 14898222 |
| Nexon Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72606 | &nbsp;&nbsp;&nbsp;1630055 |
| Nintendo Company, Ltd. | &nbsp;&nbsp;168390 | &nbsp;&nbsp;&nbsp;7080222 |
| Playstudios, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;12916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50114 |
| Sea, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;&nbsp;55100 | &nbsp;&nbsp;&nbsp;2866853 |
| Skillz, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;51208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25937 |
| Square Enix Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;608173 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17821 | &nbsp;&nbsp;&nbsp;1855701 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55589 |
| The Walt Disney Company (A) | &nbsp;&nbsp;206697 | 17957835 |
| Toho Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17108 | &nbsp;&nbsp;&nbsp;&nbsp;659443 |
| Ubisoft Entertainment SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;14358 | &nbsp;&nbsp;&nbsp;&nbsp;405625 |
| Universal Music Group NV | &nbsp;&nbsp;110630 | &nbsp;&nbsp;&nbsp;2675328 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;249352 | &nbsp;&nbsp;&nbsp;2363857 |
| World Wrestling Entertainment, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10169 | &nbsp;&nbsp;&nbsp;&nbsp;696780 |
|  |  | 68642590 |
| **Interactive media and services – 2.2%** | **Interactive media and services – 2.2%** |  |
| Adevinta ASA (A) | &nbsp;&nbsp;&nbsp;&nbsp;44448 | &nbsp;&nbsp;&nbsp;&nbsp;294322 |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;679800 | 59978754 |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;607888 | 53937902 |
| Arena Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21040 |
| Auto Trader Group PLC (B) | &nbsp;&nbsp;143631 | &nbsp;&nbsp;&nbsp;&nbsp;894440 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;13875 | &nbsp;&nbsp;&nbsp;&nbsp;292069 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16475 | &nbsp;&nbsp;&nbsp;&nbsp;230815 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10883 | &nbsp;&nbsp;&nbsp;&nbsp;149859 |
| DHI Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36104 |
| Eventbrite, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74422 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40712 |
| FuboTV, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52698 |
| Kakaku.com, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp;327331 |
| Match Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;31607 | &nbsp;&nbsp;&nbsp;1311374 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;4030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40099 |
| Meta Platforms, Inc., Class A (A) | &nbsp;&nbsp;258551 | 31114027 |
| Outbrain, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27269 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 137 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| QuinStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;8287 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118918 |
| REA Group, Ltd. | &nbsp;&nbsp;&nbsp;8060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606165 |
| Scout24 SE (B) | &nbsp;&nbsp;12232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615681 |
| SEEK, Ltd. | &nbsp;&nbsp;51397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730697 |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;3919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206610 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;24609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442470 |
| TrueCar, Inc. (A) | &nbsp;&nbsp;15307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38421 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;23996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82306 |
| Vinco Ventures, Inc. (A)(C) | &nbsp;&nbsp;32009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14852 |
| Yelp, Inc. (A) | &nbsp;&nbsp;10987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300385 |
| Z Holdings Corp. | 407354 | &nbsp;&nbsp;&nbsp;&nbsp;1017373 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;18388 | &nbsp;&nbsp;&nbsp;&nbsp;1454491 |
| ZipRecruiter, Inc., Class A (A) | &nbsp;&nbsp;12115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198928 |
|  |  | 154650534 |
| **Media – 0.7%** | **Media – 0.7%** |  |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;14084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29295 |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77661 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94817 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805826 |
| Cardlytics, Inc. (A) | &nbsp;&nbsp;&nbsp;5561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32143 |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;12541 | &nbsp;&nbsp;&nbsp;&nbsp;4252653 |
| Clear Channel Outdoor Holdings, Inc. (A) | &nbsp;&nbsp;61069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64122 |
| Comcast Corp., Class A | 499435 | &nbsp;&nbsp;&nbsp;17465242 |
| CyberAgent, Inc. | &nbsp;&nbsp;65600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584022 |
| Daily Journal Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52106 |
| Dentsu Group, Inc. | &nbsp;&nbsp;32965 | &nbsp;&nbsp;&nbsp;&nbsp;1034134 |
| DISH Network Corp., Class A (A) | &nbsp;&nbsp;29119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408831 |
| Entravision Communications Corp., Class A | &nbsp;&nbsp;&nbsp;9963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47822 |
| Fox Corp., Class A | &nbsp;&nbsp;33530 | &nbsp;&nbsp;&nbsp;&nbsp;1018306 |
| Fox Corp., Class B | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483650 |
| Gannett Company, Inc. (A) | &nbsp;&nbsp;26074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52930 |
| Gray Television, Inc. | &nbsp;&nbsp;13399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149935 |
| Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;35673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358016 |
| iHeartMedia, Inc., Class A (A) | &nbsp;&nbsp;19589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120081 |
| Informa PLC | 221165 | &nbsp;&nbsp;&nbsp;&nbsp;1649838 |
| Innovid Corp. (A) | &nbsp;&nbsp;12762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21823 |
| Integral Ad Science Holding Corp. (A) | &nbsp;&nbsp;&nbsp;6556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57627 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681020 |
| Magnite, Inc. (A) | &nbsp;&nbsp;20987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222252 |
| News Corp., Class A | &nbsp;&nbsp;41125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748475 |
| News Corp., Class B | &nbsp;&nbsp;14117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260317 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;8856 | &nbsp;&nbsp;&nbsp;&nbsp;1550066 |
| Omnicom Group, Inc. | &nbsp;&nbsp;22716 | &nbsp;&nbsp;&nbsp;&nbsp;1852944 |
| Paramount Global, Class B | &nbsp;&nbsp;57349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968051 |
| Pearson PLC | 101031 | &nbsp;&nbsp;&nbsp;&nbsp;1140824 |
| Publicis Groupe SA | &nbsp;&nbsp;34846 | &nbsp;&nbsp;&nbsp;&nbsp;2226042 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88440 |
| Scholastic Corp. | &nbsp;&nbsp;&nbsp;4836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190829 |
| Sinclair Broadcast Group, Inc., Class A | &nbsp;&nbsp;&nbsp;6551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101606 |
| Stagwell, Inc. (A) | &nbsp;&nbsp;12546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77911 |
| TechTarget, Inc. (A) | &nbsp;&nbsp;&nbsp;4390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193423 |
| TEGNA, Inc. | &nbsp;&nbsp;87965 | &nbsp;&nbsp;&nbsp;&nbsp;1863978 |
| The EW Scripps Company (A) | &nbsp;&nbsp;&nbsp;9637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127112 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;43178 | &nbsp;&nbsp;&nbsp;&nbsp;1438259 |
| The New York Times Company, Class A | &nbsp;&nbsp;38665 | &nbsp;&nbsp;&nbsp;&nbsp;1255066 |
| Thryv Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75962 |
| Vivendi SE | 109901 | &nbsp;&nbsp;&nbsp;&nbsp;1049877 |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;&nbsp;8675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79029 |
| WPP PLC | 166561 | &nbsp;&nbsp;&nbsp;&nbsp;1645620 |
|  |  | &nbsp;&nbsp;&nbsp;46697983 |
| **Wireless telecommunication services – 0.5%** | **Wireless telecommunication services – 0.5%** |  |
| Gogo, Inc. (A) | &nbsp;&nbsp;&nbsp;8075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119187 |
| KDDI Corp. | 246043 | &nbsp;&nbsp;&nbsp;&nbsp;7461718 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;7828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124309 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Wireless telecommunication services (continued)** | **Wireless telecommunication services (continued)** |  |
| SoftBank Corp. | &nbsp;&nbsp;438100 | $&nbsp;&nbsp;&nbsp;&nbsp;4956516 |
| SoftBank Group Corp. | &nbsp;&nbsp;183974 | &nbsp;&nbsp;&nbsp;&nbsp;7780799 |
| Tele2 AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;86896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708883 |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168784 |
| T-Mobile US, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;68188 | &nbsp;&nbsp;&nbsp;&nbsp;9546320 |
| United States Cellular Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51958 |
| Vodafone Group PLC | 4028076 | &nbsp;&nbsp;&nbsp;&nbsp;4079301 |
|  |  | &nbsp;&nbsp;&nbsp;34997775 |
|  |  | 384445737 |
| **Consumer discretionary – 10.1%** |  |  |
| **Auto components – 0.4%** | **Auto components – 0.4%** |  |
| Adient PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;37495 | &nbsp;&nbsp;&nbsp;&nbsp;1300702 |
| Aisin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595473 |
| American Axle & Manufacturing Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141253 |
| Aptiv PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;30412 | &nbsp;&nbsp;&nbsp;&nbsp;2832270 |
| BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25934 | &nbsp;&nbsp;&nbsp;&nbsp;1043844 |
| Bridgestone Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;87106 | &nbsp;&nbsp;&nbsp;&nbsp;3084169 |
| Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;103471 | &nbsp;&nbsp;&nbsp;&nbsp;2882420 |
| Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;16778 | &nbsp;&nbsp;&nbsp;&nbsp;1000212 |
| Dana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767636 |
| Denso Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66095 | &nbsp;&nbsp;&nbsp;&nbsp;3241287 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340139 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16735 | &nbsp;&nbsp;&nbsp;&nbsp;1526734 |
| Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55091 | &nbsp;&nbsp;&nbsp;&nbsp;1502332 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346298 |
| Holley, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19023 |
| Koito Manufacturing Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474557 |
| LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;3959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366010 |
| Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13881 | &nbsp;&nbsp;&nbsp;&nbsp;1721522 |
| Luminar Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;39725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196639 |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;8007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159019 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37656 |
| Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210827 |
| Solid Power, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;21498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54605 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108158 |
| Stoneridge, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91608 |
| Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;108943 | &nbsp;&nbsp;&nbsp;&nbsp;1230887 |
| The Goodyear Tire & Rubber Company (A) | &nbsp;&nbsp;111098 | &nbsp;&nbsp;&nbsp;&nbsp;1127645 |
| Valeo | &nbsp;&nbsp;&nbsp;&nbsp;31447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561889 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11050 | &nbsp;&nbsp;&nbsp;&nbsp;1445672 |
| XPEL, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206666 |
|  |  | &nbsp;&nbsp;&nbsp;28617152 |
| **Automobiles – 1.6%** | **Automobiles – 1.6%** |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;50499 | &nbsp;&nbsp;&nbsp;&nbsp;4470927 |
| Canoo, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;25249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31056 |
| Cenntro Electric Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;32323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14222 |
| Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;19225 | &nbsp;&nbsp;&nbsp;&nbsp;4122577 |
| Fisker, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;27400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199198 |
| Ford Motor Company | &nbsp;&nbsp;446360 | &nbsp;&nbsp;&nbsp;&nbsp;5191167 |
| General Motors Company | &nbsp;&nbsp;164808 | &nbsp;&nbsp;&nbsp;&nbsp;5544141 |
| Harley-Davidson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31241 | &nbsp;&nbsp;&nbsp;&nbsp;1299626 |
| Honda Motor Company, Ltd. | &nbsp;&nbsp;248673 | &nbsp;&nbsp;&nbsp;&nbsp;5671984 |
| Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;88946 | &nbsp;&nbsp;&nbsp;&nbsp;1031139 |
| Lordstown Motors Corp., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;28542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32538 |
| Mazda Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649907 |
| Mercedes-Benz Group AG | &nbsp;&nbsp;122378 | &nbsp;&nbsp;&nbsp;&nbsp;8002893 |
| Nissan Motor Company, Ltd. | &nbsp;&nbsp;354076 | &nbsp;&nbsp;&nbsp;&nbsp;1108054 |
| Renault SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;29317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978268 |
| Stellantis NV | &nbsp;&nbsp;335652 | &nbsp;&nbsp;&nbsp;&nbsp;4769734 |
| Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;93827 | &nbsp;&nbsp;&nbsp;&nbsp;1420547 |
| Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56143 | &nbsp;&nbsp;&nbsp;&nbsp;1798110 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 138 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Automobiles (continued)** | **Automobiles (continued)** |  |
| Tesla, Inc. (A) | &nbsp;&nbsp;301960 | $&nbsp;&nbsp;&nbsp;37195433 |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951702 |
| Toyota Motor Corp. | 1617400 | &nbsp;&nbsp;&nbsp;22065449 |
| Volkswagen AG | &nbsp;&nbsp;&nbsp;&nbsp;4501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706097 |
| Volvo Car AB, B Shares (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;90886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413841 |
| Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250272 |
| Workhorse Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;25385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38585 |
| Yamaha Motor Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45413 | &nbsp;&nbsp;&nbsp;&nbsp;1026391 |
|  |  | 108983858 |
| **Distributors – 0.1%** | **Distributors – 0.1%** |  |
| D'ieteren Group | &nbsp;&nbsp;&nbsp;&nbsp;3796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728501 |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;5102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55663 |
| Genuine Parts Company | &nbsp;&nbsp;&nbsp;&nbsp;16271 | &nbsp;&nbsp;&nbsp;&nbsp;2823181 |
| LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29051 | &nbsp;&nbsp;&nbsp;&nbsp;1551614 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4447 | &nbsp;&nbsp;&nbsp;&nbsp;1344462 |
| Weyco Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22726 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6526147 |
| **Diversified consumer services – 0.1%** | **Diversified consumer services – 0.1%** |  |
| 2U, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78482 |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254109 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39992 |
| Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63287 |
| Chegg, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504162 |
| Coursera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219127 |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269227 |
| European Wax Center, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50447 |
| frontdoor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277077 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888793 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761069 |
| H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36512 | &nbsp;&nbsp;&nbsp;&nbsp;1333053 |
| IDP Education, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586768 |
| Laureate Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166599 |
| Nerdy, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;10113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22754 |
| OneSpaWorld Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100344 |
| Perdoceo Education Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150231 |
| Rover Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;15478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56804 |
| Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;36121 | &nbsp;&nbsp;&nbsp;&nbsp;2497406 |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282970 |
| Stride, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202538 |
| Udemy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122464 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37820 |
| Vivint Smart Home, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183450 |
| WW International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9185052 |
| **Hotels, restaurants and leisure – 1.9%** | **Hotels, restaurants and leisure – 1.9%** |  |
| Accel Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72780 |
| Accor SA (A) | &nbsp;&nbsp;&nbsp;&nbsp;26073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650458 |
| Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;91291 | &nbsp;&nbsp;&nbsp;&nbsp;1881125 |
| Bally's Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115350 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98477 |
| Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284296 |
| Bluegreen Vacations Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49770 |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4503 | &nbsp;&nbsp;&nbsp;&nbsp;9074806 |
| Bowlero Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;5120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69018 |
| Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18629 | &nbsp;&nbsp;&nbsp;&nbsp;1015839 |
| Brinker International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223115 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;24929 | &nbsp;&nbsp;&nbsp;&nbsp;1037046 |
| Carnival Corp. (A) | &nbsp;&nbsp;111891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901841 |
| Century Casinos, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34876 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;4384468 |
| Choice Hotels International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733174 |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7730 | &nbsp;&nbsp;&nbsp;&nbsp;1634354 |
| Chuy's Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87475 |
| Compass Group PLC | &nbsp;&nbsp;269343 | &nbsp;&nbsp;&nbsp;&nbsp;6219674 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;8764 | $&nbsp;&nbsp;&nbsp;&nbsp;830301 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;13965 | &nbsp;&nbsp;&nbsp;1931778 |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;6871 | &nbsp;&nbsp;&nbsp;&nbsp;243508 |
| Denny's Corp. (A) | &nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86215 |
| Dine Brands Global, Inc. | &nbsp;&nbsp;&nbsp;2351 | &nbsp;&nbsp;&nbsp;&nbsp;151875 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;3962 | &nbsp;&nbsp;&nbsp;1372437 |
| El Pollo Loco Holdings, Inc. | &nbsp;&nbsp;&nbsp;3632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36175 |
| Entain PLC | &nbsp;&nbsp;89801 | &nbsp;&nbsp;&nbsp;1430086 |
| Everi Holdings, Inc. (A) | &nbsp;&nbsp;13945 | &nbsp;&nbsp;&nbsp;&nbsp;200111 |
| Evolution AB (B) | &nbsp;&nbsp;27887 | &nbsp;&nbsp;&nbsp;2716316 |
| Expedia Group, Inc. (A) | &nbsp;&nbsp;17519 | &nbsp;&nbsp;&nbsp;1534664 |
| Flutter Entertainment PLC (A) | &nbsp;&nbsp;25477 | &nbsp;&nbsp;&nbsp;3491144 |
| Full House Resorts, Inc. (A) | &nbsp;&nbsp;&nbsp;5610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42187 |
| Galaxy Entertainment Group, Ltd. | 333153 | &nbsp;&nbsp;&nbsp;2190365 |
| Genting Singapore, Ltd. | 922321 | &nbsp;&nbsp;&nbsp;&nbsp;658221 |
| Golden Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;3249 | &nbsp;&nbsp;&nbsp;&nbsp;121513 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;13885 | &nbsp;&nbsp;&nbsp;&nbsp;535128 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;31249 | &nbsp;&nbsp;&nbsp;3948624 |
| Inspired Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47132 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp;28066 | &nbsp;&nbsp;&nbsp;1610393 |
| International Game Technology PLC | &nbsp;&nbsp;15825 | &nbsp;&nbsp;&nbsp;&nbsp;358911 |
| Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;3401 | &nbsp;&nbsp;&nbsp;&nbsp;232050 |
| Krispy Kreme, Inc. | &nbsp;&nbsp;11421 | &nbsp;&nbsp;&nbsp;&nbsp;117865 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34663 |
| La Francaise des Jeux SAEM (B) | &nbsp;&nbsp;16023 | &nbsp;&nbsp;&nbsp;&nbsp;644742 |
| Las Vegas Sands Corp. (A) | &nbsp;&nbsp;37209 | &nbsp;&nbsp;&nbsp;1788637 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86279 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;37155 | &nbsp;&nbsp;&nbsp;2177283 |
| Lindblad Expeditions Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45499 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;31363 | &nbsp;&nbsp;&nbsp;4669637 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;8999 | &nbsp;&nbsp;&nbsp;1211175 |
| McDonald's Corp. | &nbsp;&nbsp;83309 | 21954421 |
| McDonald's Holdings Company Japan, Ltd. | &nbsp;&nbsp;13161 | &nbsp;&nbsp;&nbsp;&nbsp;500202 |
| MGM Resorts International | &nbsp;&nbsp;36945 | &nbsp;&nbsp;&nbsp;1238766 |
| Monarch Casino & Resort, Inc. (A) | &nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;161469 |
| NeoGames SA (A) | &nbsp;&nbsp;&nbsp;2216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27013 |
| Noodles & Company (A) | &nbsp;&nbsp;&nbsp;6834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37519 |
| Norwegian Cruise Line Holdings, Ltd. (A) | &nbsp;&nbsp;48615 | &nbsp;&nbsp;&nbsp;&nbsp;595048 |
| ONE Group Hospitality, Inc. (A) | &nbsp;&nbsp;&nbsp;3926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24734 |
| Oriental Land Company, Ltd. | &nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;4438487 |
| Papa John's International, Inc. | &nbsp;&nbsp;12793 | &nbsp;&nbsp;&nbsp;1052992 |
| Penn Entertainment, Inc. (A) | &nbsp;&nbsp;36429 | &nbsp;&nbsp;&nbsp;1081941 |
| Portillo's, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63664 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp;130186 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;&nbsp;8092 | &nbsp;&nbsp;&nbsp;&nbsp;323761 |
| Royal Caribbean Cruises, Ltd. (A) | &nbsp;&nbsp;24614 | &nbsp;&nbsp;&nbsp;1216670 |
| Rush Street Interactive, Inc. (A) | &nbsp;&nbsp;10770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38664 |
| Ruth's Hospitality Group, Inc. | &nbsp;&nbsp;&nbsp;5259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81409 |
| Sands China, Ltd. (A) | 370282 | &nbsp;&nbsp;&nbsp;1214609 |
| SeaWorld Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;6406 | &nbsp;&nbsp;&nbsp;&nbsp;342785 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6022 | &nbsp;&nbsp;&nbsp;&nbsp;250094 |
| Sodexo SA | &nbsp;&nbsp;13494 | &nbsp;&nbsp;&nbsp;1291084 |
| Sonder Holdings, Inc. (A) | &nbsp;&nbsp;31246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38745 |
| Starbucks Corp. | 130338 | 12929530 |
| Sweetgreen, Inc., Class A (A) | &nbsp;&nbsp;14119 | &nbsp;&nbsp;&nbsp;&nbsp;121000 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;&nbsp;4721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71476 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;26401 | &nbsp;&nbsp;&nbsp;2401171 |
| The Cheesecake Factory, Inc. | &nbsp;&nbsp;&nbsp;7922 | &nbsp;&nbsp;&nbsp;&nbsp;251207 |
| The Lottery Corp., Ltd. (A) | 339471 | &nbsp;&nbsp;&nbsp;1034736 |
| The Wendy's Company | &nbsp;&nbsp;40023 | &nbsp;&nbsp;&nbsp;&nbsp;905720 |
| Travel + Leisure Company | &nbsp;&nbsp;19089 | &nbsp;&nbsp;&nbsp;&nbsp;694840 |
| Vacasa, Inc., Class A (A) | &nbsp;&nbsp;18281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23034 |
| Whitbread PLC | &nbsp;&nbsp;30813 | &nbsp;&nbsp;&nbsp;&nbsp;952693 |
| Wingstop, Inc. | &nbsp;&nbsp;11829 | &nbsp;&nbsp;&nbsp;1627907 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 139 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;20743 | $&nbsp;&nbsp;&nbsp;&nbsp;1479183 |
| Wynn Resorts, Ltd. (A) | &nbsp;&nbsp;11035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910056 |
| Xponential Fitness, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63195 |
| Yum! Brands, Inc. | &nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;4124176 |
|  |  | 126807043 |
| **Household durables – 0.7%** | **Household durables – 0.7%** |  |
| Barratt Developments PLC | 155966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744939 |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;&nbsp;4432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56552 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;1425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322406 |
| Century Communities, Inc. | &nbsp;&nbsp;&nbsp;4462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223145 |
| D.R. Horton, Inc. | &nbsp;&nbsp;35949 | &nbsp;&nbsp;&nbsp;&nbsp;3204494 |
| Dream Finders Homes, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31592 |
| Electrolux AB, Series B (C) | &nbsp;&nbsp;33540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453156 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;3601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95138 |
| Garmin, Ltd. | &nbsp;&nbsp;17718 | &nbsp;&nbsp;&nbsp;&nbsp;1635194 |
| GoPro, Inc., Class A (A) | &nbsp;&nbsp;20957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104366 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;4336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105061 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10569 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;&nbsp;9455 | &nbsp;&nbsp;&nbsp;&nbsp;1048654 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37493 |
| Iida Group Holdings Company, Ltd. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334027 |
| Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;3820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326992 |
| iRobot Corp. (A) | &nbsp;&nbsp;&nbsp;4315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207681 |
| KB Home | &nbsp;&nbsp;31574 | &nbsp;&nbsp;&nbsp;&nbsp;1005632 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;6932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158188 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28118 |
| Leggett & Platt, Inc. | &nbsp;&nbsp;31136 | &nbsp;&nbsp;&nbsp;&nbsp;1003513 |
| Lennar Corp., A Shares | &nbsp;&nbsp;28910 | &nbsp;&nbsp;&nbsp;&nbsp;2616355 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;3299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305487 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188969 |
| MDC Holdings, Inc. | &nbsp;&nbsp;&nbsp;9010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284716 |
| Meritage Homes Corp. (A) | &nbsp;&nbsp;&nbsp;5737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528951 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;6282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642146 |
| Newell Brands, Inc. | &nbsp;&nbsp;44151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577495 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;1623628 |
| Open House Group Company, Ltd. | &nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433278 |
| Panasonic Holdings Corp. | 336909 | &nbsp;&nbsp;&nbsp;&nbsp;2819598 |
| Persimmon PLC | &nbsp;&nbsp;48703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714114 |
| PulteGroup, Inc. | &nbsp;&nbsp;26250 | &nbsp;&nbsp;&nbsp;&nbsp;1195163 |
| Purple Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;9555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45768 |
| SEB SA | &nbsp;&nbsp;&nbsp;3798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318658 |
| Sekisui Chemical Company, Ltd. | &nbsp;&nbsp;56544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788127 |
| Sekisui House, Ltd. | &nbsp;&nbsp;94026 | &nbsp;&nbsp;&nbsp;&nbsp;1666992 |
| Sharp Corp. | &nbsp;&nbsp;34700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249252 |
| Skyline Champion Corp. (A) | &nbsp;&nbsp;&nbsp;8530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439380 |
| Snap One Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;3168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23475 |
| Sonos, Inc. (A) | &nbsp;&nbsp;20577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347751 |
| Sony Group Corp. | 192300 | &nbsp;&nbsp;&nbsp;14657409 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;41997 | &nbsp;&nbsp;&nbsp;&nbsp;1274609 |
| Taylor Wimpey PLC | 538716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659764 |
| Tempur Sealy International, Inc. | &nbsp;&nbsp;40156 | &nbsp;&nbsp;&nbsp;&nbsp;1378555 |
| The Berkeley Group Holdings PLC | &nbsp;&nbsp;16660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759519 |
| The Lovesac Company (A) | &nbsp;&nbsp;&nbsp;2368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52120 |
| Toll Brothers, Inc. | &nbsp;&nbsp;24752 | &nbsp;&nbsp;&nbsp;&nbsp;1235620 |
| TopBuild Corp. (A) | &nbsp;&nbsp;&nbsp;7509 | &nbsp;&nbsp;&nbsp;&nbsp;1175083 |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;15789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293518 |
| Tupperware Brands Corp. (A) | &nbsp;&nbsp;&nbsp;7126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29502 |
| Universal Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;2183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45428 |
| Vizio Holding Corp., Class A (A) | &nbsp;&nbsp;10959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81206 |
| Vuzix Corp. (A)(C) | &nbsp;&nbsp;&nbsp;9951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36222 |
| Weber, Inc., Class A | &nbsp;&nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37086 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Household durables (continued)** | **Household durables (continued)** |  |
| Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6184 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874789 |
|  |  | &nbsp;&nbsp;&nbsp;49536643 |
| **Internet and direct marketing retail – 1.5%** | **Internet and direct marketing retail – 1.5%** |  |
| 1-800-Flowers.com, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;4903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46873 |
| 1stdibs.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22271 |
| Amazon.com, Inc. (A) | 1004827 | &nbsp;&nbsp;&nbsp;84405468 |
| BARK, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30909 |
| CarParts.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54099 |
| ContextLogic, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;94182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45933 |
| Delivery Hero SE (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;25932 | &nbsp;&nbsp;&nbsp;&nbsp;1244469 |
| eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61477 | &nbsp;&nbsp;&nbsp;&nbsp;2549451 |
| Etsy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14108 | &nbsp;&nbsp;&nbsp;&nbsp;1689856 |
| Groupon, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33076 |
| Just Eat Takeaway.com NV (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;27869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593178 |
| Lands' End, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20318 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55115 |
| Overstock.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133661 |
| PetMed Express, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59030 |
| Porch Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24124 |
| Poshmark, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;7478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133707 |
| Prosus NV (A) | &nbsp;&nbsp;126508 | &nbsp;&nbsp;&nbsp;&nbsp;8734541 |
| Quotient Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51549 |
| Qurate Retail, Inc., Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;57164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93177 |
| Rakuten Group, Inc. | &nbsp;&nbsp;133205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600364 |
| Rent the Runway, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;7108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21679 |
| Revolve Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145447 |
| RumbleON, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;1799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11640 |
| Stitch Fix, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;13829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43008 |
| The RealReal, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19214 |
| Vivid Seats, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;4388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32032 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;5420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174687 |
| Zalando SE (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;34156 | &nbsp;&nbsp;&nbsp;&nbsp;1202455 |
| ZOZO, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469219 |
|  |  | 102740550 |
| **Leisure products – 0.2%** | **Leisure products – 0.2%** |  |
| Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224953 |
| AMMO, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;14827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25651 |
| Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30493 | &nbsp;&nbsp;&nbsp;&nbsp;1911283 |
| Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17028 | &nbsp;&nbsp;&nbsp;&nbsp;1227378 |
| Clarus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38737 |
| Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922532 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61888 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24195 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;3312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176530 |
| MasterCraft Boat Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77170 |
| Mattel, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;83231 | &nbsp;&nbsp;&nbsp;&nbsp;1484841 |
| Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12795 | &nbsp;&nbsp;&nbsp;&nbsp;1292295 |
| Shimano, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11081 | &nbsp;&nbsp;&nbsp;&nbsp;1751007 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65447 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140066 |
| Topgolf Callaway Brands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;55093 | &nbsp;&nbsp;&nbsp;&nbsp;1088087 |
| Vista Outdoor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216966 |
| Yamaha Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796816 |
| YETI Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836734 |
|  |  | &nbsp;&nbsp;&nbsp;12362576 |
| **Multiline retail – 0.4%** | **Multiline retail – 0.4%** |  |
| Big Lots, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68958 |
| Dillard's, Inc., Class A (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205232 |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25583 | &nbsp;&nbsp;&nbsp;&nbsp;6299814 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;23937 | &nbsp;&nbsp;&nbsp;&nbsp;3385649 |
| Franchise Group, Inc. (C) | &nbsp;&nbsp;&nbsp;&nbsp;4378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104284 |
| Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691648 |
| Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63642 | &nbsp;&nbsp;&nbsp;&nbsp;1314207 |
| Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;19715 | &nbsp;&nbsp;&nbsp;&nbsp;1381444 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 140 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Multiline retail (continued)** | **Multiline retail (continued)** |  |
| Nordstrom, Inc. | &nbsp;&nbsp;26160 | $&nbsp;&nbsp;&nbsp;&nbsp;422222 |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;13670 | &nbsp;&nbsp;&nbsp;&nbsp;640303 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp;58100 | &nbsp;&nbsp;&nbsp;1079156 |
| Target Corp. | &nbsp;&nbsp;52709 | &nbsp;&nbsp;&nbsp;7855749 |
| Wesfarmers, Ltd. | 172979 | &nbsp;&nbsp;&nbsp;5394745 |
|  |  | 28843411 |
| **Specialty retail – 1.8%** | **Specialty retail – 1.8%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;&nbsp;7976 | &nbsp;&nbsp;&nbsp;&nbsp;182730 |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;12354 | &nbsp;&nbsp;&nbsp;&nbsp;649079 |
| Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;7084 | &nbsp;&nbsp;&nbsp;1041561 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp;24936 | &nbsp;&nbsp;&nbsp;&nbsp;348107 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71176 |
| Arko Corp. | &nbsp;&nbsp;13641 | &nbsp;&nbsp;&nbsp;&nbsp;118131 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;&nbsp;630602 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;&nbsp;8033 | &nbsp;&nbsp;&nbsp;&nbsp;861941 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;2210 | &nbsp;&nbsp;&nbsp;5450258 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;24907 | &nbsp;&nbsp;&nbsp;1049581 |
| Bed Bath & Beyond, Inc. (A)(C) | &nbsp;&nbsp;13133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32964 |
| Best Buy Company, Inc. | &nbsp;&nbsp;22919 | &nbsp;&nbsp;&nbsp;1838333 |
| Big 5 Sporting Goods Corp. (C) | &nbsp;&nbsp;&nbsp;3618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31947 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4744 | &nbsp;&nbsp;&nbsp;&nbsp;296595 |
| Build-A-Bear Workshop, Inc. (A) | &nbsp;&nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53616 |
| Caleres, Inc. | &nbsp;&nbsp;&nbsp;5515 | &nbsp;&nbsp;&nbsp;&nbsp;122874 |
| Camping World Holdings, Inc., Class A (C) | &nbsp;&nbsp;&nbsp;6170 | &nbsp;&nbsp;&nbsp;&nbsp;137714 |
| CarMax, Inc. (A) | &nbsp;&nbsp;17671 | &nbsp;&nbsp;&nbsp;1075987 |
| Chico's FAS, Inc. (A) | &nbsp;&nbsp;19677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96811 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;&nbsp;1409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37310 |
| Designer Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;8238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80568 |
| Destination XL Group, Inc. (A) | &nbsp;&nbsp;&nbsp;9679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65333 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;13058 | &nbsp;&nbsp;&nbsp;1570747 |
| EVgo, Inc. (A)(C) | &nbsp;&nbsp;11194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50037 |
| Fast Retailing Company, Ltd. | &nbsp;&nbsp;&nbsp;8946 | &nbsp;&nbsp;&nbsp;5443941 |
| Five Below, Inc. (A) | &nbsp;&nbsp;13036 | &nbsp;&nbsp;&nbsp;2305677 |
| Foot Locker, Inc. | &nbsp;&nbsp;31485 | &nbsp;&nbsp;&nbsp;1189818 |
| GameStop Corp., Class A (A)(C) | &nbsp;&nbsp;59361 | &nbsp;&nbsp;&nbsp;1095804 |
| Genesco, Inc. (A) | &nbsp;&nbsp;&nbsp;2057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94663 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;2223 | &nbsp;&nbsp;&nbsp;&nbsp;400963 |
| GrowGeneration Corp. (A)(C) | &nbsp;&nbsp;10168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39859 |
| Guess?, Inc. | &nbsp;&nbsp;&nbsp;5023 | &nbsp;&nbsp;&nbsp;&nbsp;103926 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp;2339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69936 |
| Hennes & Mauritz AB, B Shares | 111390 | &nbsp;&nbsp;&nbsp;1200386 |
| Hibbett, Inc. | &nbsp;&nbsp;&nbsp;2060 | &nbsp;&nbsp;&nbsp;&nbsp;140533 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;436338 |
| Industria de Diseno Textil SA | 166373 | &nbsp;&nbsp;&nbsp;4419039 |
| JD Sports Fashion PLC | 393352 | &nbsp;&nbsp;&nbsp;&nbsp;597748 |
| Kingfisher PLC | 300106 | &nbsp;&nbsp;&nbsp;&nbsp;852668 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;6420 | &nbsp;&nbsp;&nbsp;1314431 |
| LL Flooring Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28201 |
| Lowe's Companies, Inc. | &nbsp;&nbsp;72469 | 14438724 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp;102870 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;5094 | &nbsp;&nbsp;&nbsp;&nbsp;230249 |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;8212 | &nbsp;&nbsp;&nbsp;2295582 |
| National Vision Holdings, Inc. (A) | &nbsp;&nbsp;12608 | &nbsp;&nbsp;&nbsp;&nbsp;488686 |
| Nitori Holdings Company, Ltd. | &nbsp;&nbsp;12211 | &nbsp;&nbsp;&nbsp;1595519 |
| OneWater Marine, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53196 |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;&nbsp;7230 | &nbsp;&nbsp;&nbsp;6102337 |
| Rent-A-Center, Inc. | &nbsp;&nbsp;&nbsp;8175 | &nbsp;&nbsp;&nbsp;&nbsp;184346 |
| RH (A) | &nbsp;&nbsp;&nbsp;4513 | &nbsp;&nbsp;&nbsp;1205828 |
| Ross Stores, Inc. | &nbsp;&nbsp;39628 | &nbsp;&nbsp;&nbsp;4599622 |
| Sally Beauty Holdings, Inc. (A) | &nbsp;&nbsp;17148 | &nbsp;&nbsp;&nbsp;&nbsp;214693 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;2766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66135 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;7340 | &nbsp;&nbsp;&nbsp;&nbsp;499120 |
| Sleep Number Corp. (A) | &nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91450 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;2878 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141799 |
| Sportsman's Warehouse Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61127 |
| The Aaron's Company, Inc. | &nbsp;&nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62546 |
| The Buckle, Inc. | &nbsp;&nbsp;&nbsp;4739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214914 |
| The Cato Corp., Class A | &nbsp;&nbsp;&nbsp;3329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31060 |
| The Children's Place, Inc. (A) | &nbsp;&nbsp;&nbsp;2112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76919 |
| The Container Store Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25050 |
| The Gap, Inc. | &nbsp;&nbsp;49540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558811 |
| The Home Depot, Inc. | 116524 | &nbsp;&nbsp;&nbsp;36805271 |
| The ODP Corp. (A) | &nbsp;&nbsp;&nbsp;6448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293642 |
| The TJX Companies, Inc. | 132751 | &nbsp;&nbsp;&nbsp;10566980 |
| Tile Shop Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29328 |
| Tilly's, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38978 |
| Tractor Supply Company | &nbsp;&nbsp;12676 | &nbsp;&nbsp;&nbsp;&nbsp;2851720 |
| TravelCenters of America, Inc. (A) | &nbsp;&nbsp;&nbsp;2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91396 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;5915 | &nbsp;&nbsp;&nbsp;&nbsp;2774549 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;10212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243556 |
| USS Company, Ltd. | &nbsp;&nbsp;31348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497401 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;19081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682718 |
| Volta, Inc. (A) | &nbsp;&nbsp;21751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7730 |
| Warby Parker, Inc., Class A (A)(C) | &nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181913 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;15667 | &nbsp;&nbsp;&nbsp;&nbsp;1800452 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106124 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;&nbsp;2707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58850 |
|  |  | 125999124 |
| **Textiles, apparel and luxury goods – 1.4%** | **Textiles, apparel and luxury goods – 1.4%** |  |
| adidas AG | &nbsp;&nbsp;26369 | &nbsp;&nbsp;&nbsp;&nbsp;3573693 |
| Allbirds, Inc., Class A (A) | &nbsp;&nbsp;16651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40295 |
| Burberry Group PLC | &nbsp;&nbsp;59801 | &nbsp;&nbsp;&nbsp;&nbsp;1453891 |
| Capri Holdings, Ltd. (A) | &nbsp;&nbsp;30247 | &nbsp;&nbsp;&nbsp;&nbsp;1733758 |
| Carter's, Inc. | &nbsp;&nbsp;&nbsp;8962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668655 |
| Cie Financiere Richemont SA, A Shares | &nbsp;&nbsp;79615 | &nbsp;&nbsp;&nbsp;10322875 |
| Columbia Sportswear Company | &nbsp;&nbsp;&nbsp;8315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728228 |
| Crocs, Inc. (A) | &nbsp;&nbsp;24212 | &nbsp;&nbsp;&nbsp;&nbsp;2625307 |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;&nbsp;6216 | &nbsp;&nbsp;&nbsp;&nbsp;2481179 |
| Ermenegildo Zegna NV | &nbsp;&nbsp;&nbsp;7562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79174 |
| Fossil Group, Inc. (A) | &nbsp;&nbsp;&nbsp;8442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36385 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;7104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97396 |
| Hanesbrands, Inc. | &nbsp;&nbsp;81950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521202 |
| Hermes International | &nbsp;&nbsp;&nbsp;4830 | &nbsp;&nbsp;&nbsp;&nbsp;7476122 |
| Kering SA | &nbsp;&nbsp;11420 | &nbsp;&nbsp;&nbsp;&nbsp;5811952 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;8888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355431 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;42216 | &nbsp;&nbsp;&nbsp;30720260 |
| Moncler SpA | &nbsp;&nbsp;31306 | &nbsp;&nbsp;&nbsp;&nbsp;1663502 |
| Movado Group, Inc. | &nbsp;&nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81593 |
| NIKE, Inc., Class B | 143614 | &nbsp;&nbsp;&nbsp;16804274 |
| Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223259 |
| Pandora A/S | &nbsp;&nbsp;13837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978020 |
| PLBY Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15205 |
| Puma SE | &nbsp;&nbsp;16102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973258 |
| PVH Corp. | &nbsp;&nbsp;15317 | &nbsp;&nbsp;&nbsp;&nbsp;1081227 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;4597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485765 |
| Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;1251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29549 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;31520 | &nbsp;&nbsp;&nbsp;&nbsp;1322264 |
| Steven Madden, Ltd. | &nbsp;&nbsp;12408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396560 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;2256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22695 |
| Tapestry, Inc. | &nbsp;&nbsp;27473 | &nbsp;&nbsp;&nbsp;&nbsp;1046172 |
| The Swatch Group AG | &nbsp;&nbsp;&nbsp;8024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417224 |
| The Swatch Group AG, Bearer Shares | &nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;&nbsp;&nbsp;1254266 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;44314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450230 |
| Under Armour, Inc., Class C (A) | &nbsp;&nbsp;46271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412737 |
| VF Corp. | &nbsp;&nbsp;37720 | &nbsp;&nbsp;&nbsp;&nbsp;1041449 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp;12601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137729 |
|  |  | &nbsp;&nbsp;&nbsp;97562781 |
|  |  | 697164337 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 141 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer staples – 7.6%** |  |  |
| **Beverages – 1.8%** | **Beverages – 1.8%** |  |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp;132477 | $&nbsp;&nbsp;&nbsp;&nbsp;7979214 |
| Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69581 | &nbsp;&nbsp;&nbsp;&nbsp;2165890 |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;20268 | &nbsp;&nbsp;&nbsp;&nbsp;1331202 |
| Budweiser Brewing Company APAC, Ltd. (B) | &nbsp;&nbsp;262600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820886 |
| Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;14847 | &nbsp;&nbsp;&nbsp;&nbsp;1969409 |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18386 | &nbsp;&nbsp;&nbsp;&nbsp;1912879 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938131 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;31358 | &nbsp;&nbsp;&nbsp;&nbsp;1734725 |
| Coca-Cola HBC AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;30738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726609 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17989 | &nbsp;&nbsp;&nbsp;&nbsp;4168951 |
| Davide Campari-Milano NV | &nbsp;&nbsp;&nbsp;&nbsp;79724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809382 |
| Diageo PLC | &nbsp;&nbsp;347287 | &nbsp;&nbsp;&nbsp;15201396 |
| Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;15375 | &nbsp;&nbsp;&nbsp;&nbsp;1187417 |
| Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;39533 | &nbsp;&nbsp;&nbsp;&nbsp;3723699 |
| Ito En, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298431 |
| Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96252 | &nbsp;&nbsp;&nbsp;&nbsp;3432346 |
| Kirin Holdings Company, Ltd. | &nbsp;&nbsp;125492 | &nbsp;&nbsp;&nbsp;&nbsp;1912678 |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237653 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;21971 | &nbsp;&nbsp;&nbsp;&nbsp;1131946 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;43577 | &nbsp;&nbsp;&nbsp;&nbsp;4424373 |
| National Beverage Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176302 |
| PepsiCo, Inc. | &nbsp;&nbsp;156290 | &nbsp;&nbsp;&nbsp;28235351 |
| Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;31474 | &nbsp;&nbsp;&nbsp;&nbsp;6191642 |
| Primo Water Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391748 |
| Remy Cointreau SA | &nbsp;&nbsp;&nbsp;&nbsp;3538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596554 |
| Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720510 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729557 |
| The Coca-Cola Company | &nbsp;&nbsp;440921 | &nbsp;&nbsp;&nbsp;28046985 |
| The Duckhorn Portfolio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98691 |
| Treasury Wine Estates, Ltd. | &nbsp;&nbsp;110097 | &nbsp;&nbsp;&nbsp;&nbsp;1017122 |
| Vita Coco Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63669 |
|  |  | 122375348 |
| **Food and staples retailing – 1.4%** | **Food and staples retailing – 1.4%** |  |
| Aeon Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;99778 | &nbsp;&nbsp;&nbsp;&nbsp;2106860 |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;31721 | &nbsp;&nbsp;&nbsp;&nbsp;2098661 |
| Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;90554 | &nbsp;&nbsp;&nbsp;&nbsp;1514601 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8749 | &nbsp;&nbsp;&nbsp;&nbsp;1962838 |
| Coles Group, Ltd. | &nbsp;&nbsp;203809 | &nbsp;&nbsp;&nbsp;&nbsp;2310303 |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50263 | &nbsp;&nbsp;&nbsp;22945060 |
| Endeavour Group, Ltd. | &nbsp;&nbsp;218527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951012 |
| Grocery Outlet Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606860 |
| HelloFresh SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;25203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550052 |
| HF Foods Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24880 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219157 |
| J Sainsbury PLC | &nbsp;&nbsp;268147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703301 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;43191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934458 |
| Kesko OYJ, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;41658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920482 |
| Kobe Bussan Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662887 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;159493 | &nbsp;&nbsp;&nbsp;&nbsp;4585625 |
| Ocado Group PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;88064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653701 |
| Performance Food Group Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;36560 | &nbsp;&nbsp;&nbsp;&nbsp;2134738 |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239656 |
| Rite Aid Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;9260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30928 |
| Seven & i Holdings Company, Ltd. | &nbsp;&nbsp;114929 | &nbsp;&nbsp;&nbsp;&nbsp;4925437 |
| SpartanNash Company | &nbsp;&nbsp;&nbsp;&nbsp;5709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172640 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;41954 | &nbsp;&nbsp;&nbsp;&nbsp;1358051 |
| Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;57543 | &nbsp;&nbsp;&nbsp;&nbsp;4399162 |
| Tesco PLC | 1138501 | &nbsp;&nbsp;&nbsp;&nbsp;3068109 |
| The Andersons, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178134 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182441 |
| The Fresh Market, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| The Kroger Company | &nbsp;&nbsp;&nbsp;&nbsp;74217 | &nbsp;&nbsp;&nbsp;&nbsp;3308594 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food and staples retailing (continued)** | **Food and staples retailing (continued)** |  |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;9316 | $&nbsp;&nbsp;&nbsp;&nbsp;360622 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43925 |
| Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;80897 | &nbsp;&nbsp;&nbsp;3022312 |
| Walmart, Inc. | 161574 | 22909577 |
| Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;2641 | &nbsp;&nbsp;&nbsp;&nbsp;217328 |
| Welcia Holdings Company, Ltd. | &nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;335668 |
| Woolworths Group, Ltd. | 185143 | &nbsp;&nbsp;&nbsp;4227817 |
|  |  | 94865877 |
| **Food products – 1.9%** | **Food products – 1.9%** |  |
| Ajinomoto Company, Inc. | &nbsp;&nbsp;69596 | &nbsp;&nbsp;&nbsp;2127085 |
| Alico, Inc. | &nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26949 |
| Archer-Daniels-Midland Company | &nbsp;&nbsp;63624 | &nbsp;&nbsp;&nbsp;5907488 |
| Associated British Foods PLC | &nbsp;&nbsp;54336 | &nbsp;&nbsp;&nbsp;1030143 |
| B&G Foods, Inc. (C) | &nbsp;&nbsp;11312 | &nbsp;&nbsp;&nbsp;&nbsp;126129 |
| Barry Callebaut AG | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;1074264 |
| Benson Hill, Inc. (A)(C) | &nbsp;&nbsp;28254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72048 |
| Beyond Meat, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;9973 | &nbsp;&nbsp;&nbsp;&nbsp;122768 |
| BRC, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;4474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27336 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;2818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82849 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;5984 | &nbsp;&nbsp;&nbsp;&nbsp;325829 |
| Campbell Soup Company | &nbsp;&nbsp;23575 | &nbsp;&nbsp;&nbsp;1337881 |
| Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;1646135 |
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | &nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;1620216 |
| Conagra Brands, Inc. | &nbsp;&nbsp;54807 | &nbsp;&nbsp;&nbsp;2121031 |
| Danone SA | &nbsp;&nbsp;97917 | &nbsp;&nbsp;&nbsp;5160780 |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;37640 | &nbsp;&nbsp;&nbsp;2355888 |
| Flowers Foods, Inc. | &nbsp;&nbsp;45122 | &nbsp;&nbsp;&nbsp;1296806 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;4925 | &nbsp;&nbsp;&nbsp;&nbsp;128986 |
| General Mills, Inc. | &nbsp;&nbsp;67052 | &nbsp;&nbsp;&nbsp;5622310 |
| Hormel Foods Corp. | &nbsp;&nbsp;32901 | &nbsp;&nbsp;&nbsp;1498641 |
| Hostess Brands, Inc. (A) | &nbsp;&nbsp;21513 | &nbsp;&nbsp;&nbsp;&nbsp;482752 |
| Ingredion, Inc. | &nbsp;&nbsp;15396 | &nbsp;&nbsp;&nbsp;1507730 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;2427 | &nbsp;&nbsp;&nbsp;&nbsp;363346 |
| JDE Peet's NV | &nbsp;&nbsp;15336 | &nbsp;&nbsp;&nbsp;&nbsp;443591 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;1421 | &nbsp;&nbsp;&nbsp;&nbsp;115556 |
| Kellogg Company | &nbsp;&nbsp;29304 | &nbsp;&nbsp;&nbsp;2087617 |
| Kerry Group PLC, Class A | &nbsp;&nbsp;23281 | &nbsp;&nbsp;&nbsp;2102978 |
| Kerry Group PLC, Class A (London Stock Exchange) | &nbsp;&nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp;&nbsp;109751 |
| Kikkoman Corp. | &nbsp;&nbsp;22146 | &nbsp;&nbsp;&nbsp;1165690 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;15941 | &nbsp;&nbsp;&nbsp;1424488 |
| Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;7761 | &nbsp;&nbsp;&nbsp;1531245 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;&nbsp;4762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30858 |
| McCormick & Company, Inc. | &nbsp;&nbsp;28777 | &nbsp;&nbsp;&nbsp;2385326 |
| MEIJI Holdings Company, Ltd. | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;871389 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;&nbsp;6452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74972 |
| Mondelez International, Inc., Class A | 155107 | 10337882 |
| Mowi ASA | &nbsp;&nbsp;63096 | &nbsp;&nbsp;&nbsp;1075174 |
| Nestle SA | 419429 | 48447972 |
| Nisshin Seifun Group, Inc. | &nbsp;&nbsp;30200 | &nbsp;&nbsp;&nbsp;&nbsp;379553 |
| Nissin Foods Holdings Company, Ltd. | &nbsp;&nbsp;&nbsp;9575 | &nbsp;&nbsp;&nbsp;&nbsp;758286 |
| Orkla ASA | 114555 | &nbsp;&nbsp;&nbsp;&nbsp;826781 |
| Pilgrim's Pride Corp. (A) | &nbsp;&nbsp;10552 | &nbsp;&nbsp;&nbsp;&nbsp;250399 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;12771 | &nbsp;&nbsp;&nbsp;1152710 |
| Salmar ASA | &nbsp;&nbsp;&nbsp;9966 | &nbsp;&nbsp;&nbsp;&nbsp;390831 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51808 |
| Sovos Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;6145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88304 |
| SunOpta, Inc. (A) | &nbsp;&nbsp;15727 | &nbsp;&nbsp;&nbsp;&nbsp;132736 |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;12205 | &nbsp;&nbsp;&nbsp;&nbsp;197477 |
| The Hershey Company | &nbsp;&nbsp;16769 | &nbsp;&nbsp;&nbsp;3883197 |
| The JM Smucker Company | &nbsp;&nbsp;12065 | &nbsp;&nbsp;&nbsp;1911820 |
| The Kraft Heinz Company | &nbsp;&nbsp;90100 | &nbsp;&nbsp;&nbsp;3667971 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;14317 | &nbsp;&nbsp;&nbsp;&nbsp;544476 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;102934 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 142 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food products (continued)** | **Food products (continued)** |  |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8127 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401311 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;32817 | &nbsp;&nbsp;&nbsp;&nbsp;2042858 |
| Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167339 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72541 |
| WH Group, Ltd. (B) | 1272000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741879 |
| Whole Earth Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32055 |
| Wilmar International, Ltd. | &nbsp;&nbsp;293003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912814 |
| Yakult Honsha Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19603 | &nbsp;&nbsp;&nbsp;&nbsp;1276107 |
|  |  | 128256066 |
| **Household products – 1.0%** | **Household products – 1.0%** |  |
| Central Garden & Pet Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;3042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113923 |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;5147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184263 |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27861 | &nbsp;&nbsp;&nbsp;&nbsp;2245875 |
| Colgate-Palmolive Company | &nbsp;&nbsp;&nbsp;&nbsp;94711 | &nbsp;&nbsp;&nbsp;&nbsp;7462280 |
| Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880688 |
| Essity AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;92884 | &nbsp;&nbsp;&nbsp;&nbsp;2432370 |
| Henkel AG & Company KGaA | &nbsp;&nbsp;&nbsp;&nbsp;15850 | &nbsp;&nbsp;&nbsp;&nbsp;1018595 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38158 | &nbsp;&nbsp;&nbsp;&nbsp;5179949 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;109142 | &nbsp;&nbsp;&nbsp;&nbsp;7565322 |
| The Clorox Company | &nbsp;&nbsp;&nbsp;&nbsp;14002 | &nbsp;&nbsp;&nbsp;&nbsp;1964901 |
| The Procter & Gamble Company | &nbsp;&nbsp;270682 | &nbsp;&nbsp;&nbsp;41024564 |
| Unicharm Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61500 | &nbsp;&nbsp;&nbsp;&nbsp;2354603 |
| WD-40 Company | &nbsp;&nbsp;&nbsp;&nbsp;2182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351760 |
|  |  | &nbsp;&nbsp;&nbsp;72779093 |
| **Personal products – 0.8%** | **Personal products – 0.8%** |  |
| Beiersdorf AG | &nbsp;&nbsp;&nbsp;&nbsp;15374 | &nbsp;&nbsp;&nbsp;&nbsp;1756813 |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52909 | &nbsp;&nbsp;&nbsp;&nbsp;1356587 |
| Coty, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;85849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734867 |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428077 |
| Edgewell Personal Care Company | &nbsp;&nbsp;&nbsp;&nbsp;8235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317377 |
| Haleon PLC (A) | &nbsp;&nbsp;774650 | &nbsp;&nbsp;&nbsp;&nbsp;3064992 |
| Herbalife Nutrition, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234226 |
| Inter Parfums, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277398 |
| Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72475 | &nbsp;&nbsp;&nbsp;&nbsp;2877289 |
| Kobayashi Pharmaceutical Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555195 |
| Kose Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554131 |
| L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;36838 | &nbsp;&nbsp;&nbsp;13191598 |
| Medifast, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201055 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;7985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336648 |
| Shiseido Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;60960 | &nbsp;&nbsp;&nbsp;&nbsp;2987874 |
| The Beauty Health Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;16045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146010 |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;26199 | &nbsp;&nbsp;&nbsp;&nbsp;6500234 |
| The Honest Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35042 |
| Unilever PLC | &nbsp;&nbsp;388211 | &nbsp;&nbsp;&nbsp;19599925 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97462 |
| Veru, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54136 |
|  |  | &nbsp;&nbsp;&nbsp;55306936 |
| **Tobacco – 0.7%** | **Tobacco – 0.7%** |  |
| 22nd Century Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;27503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25317 |
| Altria Group, Inc. | &nbsp;&nbsp;204574 | &nbsp;&nbsp;&nbsp;&nbsp;9351078 |
| British American Tobacco PLC | &nbsp;&nbsp;325984 | &nbsp;&nbsp;&nbsp;12895326 |
| Imperial Brands PLC | &nbsp;&nbsp;137708 | &nbsp;&nbsp;&nbsp;&nbsp;3430460 |
| Japan Tobacco, Inc. | &nbsp;&nbsp;183066 | &nbsp;&nbsp;&nbsp;&nbsp;3690650 |
| Philip Morris International, Inc. | &nbsp;&nbsp;175996 | &nbsp;&nbsp;&nbsp;17812555 |
| Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51674 |
| Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201206 |
| Vector Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269874 |
|  |  | &nbsp;&nbsp;&nbsp;47728140 |
|  |  | 521311460 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy – 5.0%** |  |  |
| **Energy equipment and services – 0.4%** | **Energy equipment and services – 0.4%** |  |
| Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22181 | $&nbsp;&nbsp;&nbsp;&nbsp;199185 |
| Baker Hughes Company | &nbsp;&nbsp;114477 | &nbsp;&nbsp;&nbsp;3380506 |
| Borr Drilling, Ltd. (New York Stock Exchange) (A) | &nbsp;&nbsp;&nbsp;&nbsp;31601 | &nbsp;&nbsp;&nbsp;&nbsp;157057 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3787 | &nbsp;&nbsp;&nbsp;&nbsp;102741 |
| Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9453 | &nbsp;&nbsp;&nbsp;&nbsp;475108 |
| ChampionX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79098 | &nbsp;&nbsp;&nbsp;2293051 |
| Diamond Offshore Drilling, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16515 | &nbsp;&nbsp;&nbsp;&nbsp;171756 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62072 |
| Dril-Quip, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5716 | &nbsp;&nbsp;&nbsp;&nbsp;155304 |
| Expro Group Holdings NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;12580 | &nbsp;&nbsp;&nbsp;&nbsp;228075 |
| Halliburton Company | &nbsp;&nbsp;104105 | &nbsp;&nbsp;&nbsp;4096532 |
| Helix Energy Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;23240 | &nbsp;&nbsp;&nbsp;&nbsp;171511 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16471 | &nbsp;&nbsp;&nbsp;&nbsp;816467 |
| Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22682 | &nbsp;&nbsp;&nbsp;&nbsp;363139 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1459 | &nbsp;&nbsp;&nbsp;&nbsp;225955 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47032 |
| Newpark Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60495 |
| NexTier Oilfield Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;28209 | &nbsp;&nbsp;&nbsp;&nbsp;260651 |
| Noble Corp. PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;11862 | &nbsp;&nbsp;&nbsp;&nbsp;447316 |
| NOV, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;92250 | &nbsp;&nbsp;&nbsp;1927103 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16208 | &nbsp;&nbsp;&nbsp;&nbsp;283478 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79695 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34452 | &nbsp;&nbsp;&nbsp;&nbsp;580172 |
| ProFrac Holding Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68645 |
| ProPetro Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13994 | &nbsp;&nbsp;&nbsp;&nbsp;145118 |
| RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12071 | &nbsp;&nbsp;&nbsp;&nbsp;107311 |
| Schlumberger, Ltd. | &nbsp;&nbsp;159519 | &nbsp;&nbsp;&nbsp;8527886 |
| Select Energy Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11544 | &nbsp;&nbsp;&nbsp;&nbsp;106667 |
| Solaris Oilfield Infrastructure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;5365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53274 |
| Tenaris SA | &nbsp;&nbsp;&nbsp;&nbsp;72022 | &nbsp;&nbsp;&nbsp;1263100 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70895 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6879 | &nbsp;&nbsp;&nbsp;&nbsp;253491 |
| U.S. Silica Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11870 | &nbsp;&nbsp;&nbsp;&nbsp;148375 |
| Valaris, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;9711 | &nbsp;&nbsp;&nbsp;&nbsp;656658 |
| Weatherford International PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;11322 | &nbsp;&nbsp;&nbsp;&nbsp;576516 |
|  |  | 28562337 |
| **Oil, gas and consumable fuels – 4.6%** | **Oil, gas and consumable fuels – 4.6%** |  |
| Aemetis, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;4964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19657 |
| Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp;48198 | &nbsp;&nbsp;&nbsp;1498132 |
| Alto Ingredients, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34816 |
| Amplify Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51641 |
| Ampol, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36346 | &nbsp;&nbsp;&nbsp;&nbsp;698659 |
| Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;78660 | &nbsp;&nbsp;&nbsp;&nbsp;848741 |
| Antero Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;64848 | &nbsp;&nbsp;&nbsp;2009640 |
| APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36758 | &nbsp;&nbsp;&nbsp;1715863 |
| Arch Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2336 | &nbsp;&nbsp;&nbsp;&nbsp;333557 |
| Ardmore Shipping Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80855 |
| Berry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13024 | &nbsp;&nbsp;&nbsp;&nbsp;104192 |
| BP PLC | 2869777 | 16558446 |
| California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11644 | &nbsp;&nbsp;&nbsp;&nbsp;506630 |
| Callon Petroleum Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;7921 | &nbsp;&nbsp;&nbsp;&nbsp;293790 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55736 |
| Chevron Corp. | &nbsp;&nbsp;204142 | 36641448 |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6543 | &nbsp;&nbsp;&nbsp;&nbsp;895148 |
| Civitas Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11795 | &nbsp;&nbsp;&nbsp;&nbsp;683284 |
| Clean Energy Fuels Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;27414 | &nbsp;&nbsp;&nbsp;&nbsp;142553 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;71304 | &nbsp;&nbsp;&nbsp;1200759 |
| Comstock Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14668 | &nbsp;&nbsp;&nbsp;&nbsp;201098 |
| ConocoPhillips | &nbsp;&nbsp;144300 | 17027400 |
| CONSOL Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5479 | &nbsp;&nbsp;&nbsp;&nbsp;356135 |
| Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91341 | &nbsp;&nbsp;&nbsp;2244248 |
| Crescent Energy Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;5372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64410 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 143 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| CVR Energy, Inc. | &nbsp;&nbsp;&nbsp;4679 | $&nbsp;&nbsp;&nbsp;&nbsp;146640 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;11227 | &nbsp;&nbsp;&nbsp;&nbsp;303129 |
| Denbury, Inc. (A) | &nbsp;&nbsp;&nbsp;8005 | &nbsp;&nbsp;&nbsp;&nbsp;696595 |
| Devon Energy Corp. | &nbsp;&nbsp;74237 | &nbsp;&nbsp;&nbsp;4566318 |
| DHT Holdings, Inc. | &nbsp;&nbsp;21642 | &nbsp;&nbsp;&nbsp;&nbsp;192181 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;20135 | &nbsp;&nbsp;&nbsp;2754065 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;4826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91453 |
| DT Midstream, Inc. | &nbsp;&nbsp;22722 | &nbsp;&nbsp;&nbsp;1255618 |
| Earthstone Energy, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7196 | &nbsp;&nbsp;&nbsp;&nbsp;102399 |
| Empire Petroleum Corp. (A) | &nbsp;&nbsp;&nbsp;1721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21168 |
| ENEOS Holdings, Inc. | 468011 | &nbsp;&nbsp;&nbsp;1593771 |
| Energy Fuels, Inc. (A) | &nbsp;&nbsp;25097 | &nbsp;&nbsp;&nbsp;&nbsp;155852 |
| Eni SpA | 381305 | &nbsp;&nbsp;&nbsp;5421951 |
| EOG Resources, Inc. | &nbsp;&nbsp;66184 | &nbsp;&nbsp;&nbsp;8572152 |
| EQT Corp. | &nbsp;&nbsp;42995 | &nbsp;&nbsp;&nbsp;1454521 |
| Equinor ASA | 145296 | &nbsp;&nbsp;&nbsp;5221974 |
| Equitrans Midstream Corp. | 167585 | &nbsp;&nbsp;&nbsp;1122820 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;3006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75300 |
| Exxon Mobil Corp. | 472493 | 52115978 |
| FLEX LNG, Ltd. | &nbsp;&nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp;150178 |
| Frontline, Ltd. (C) | &nbsp;&nbsp;19840 | &nbsp;&nbsp;&nbsp;&nbsp;240858 |
| Galp Energia SGPS SA | &nbsp;&nbsp;76452 | &nbsp;&nbsp;&nbsp;1031385 |
| Gevo, Inc. (A) | &nbsp;&nbsp;32588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61917 |
| Golar LNG, Ltd. (A) | &nbsp;&nbsp;16146 | &nbsp;&nbsp;&nbsp;&nbsp;367967 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;&nbsp;8479 | &nbsp;&nbsp;&nbsp;&nbsp;258610 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;130490 |
| Hess Corp. | &nbsp;&nbsp;31808 | &nbsp;&nbsp;&nbsp;4511011 |
| HF Sinclair Corp. | &nbsp;&nbsp;31585 | &nbsp;&nbsp;&nbsp;1638946 |
| HighPeak Energy, Inc. (C) | &nbsp;&nbsp;&nbsp;1093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24997 |
| Idemitsu Kosan Company, Ltd. | &nbsp;&nbsp;31786 | &nbsp;&nbsp;&nbsp;&nbsp;744161 |
| Inpex Corp. | 158641 | &nbsp;&nbsp;&nbsp;1704663 |
| International Seaways, Inc. | &nbsp;&nbsp;&nbsp;7750 | &nbsp;&nbsp;&nbsp;&nbsp;286905 |
| Kinder Morgan, Inc. | 224711 | &nbsp;&nbsp;&nbsp;4062775 |
| Kinetik Holdings, Inc. (C) | &nbsp;&nbsp;&nbsp;2846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94146 |
| Kosmos Energy, Ltd. (A) | &nbsp;&nbsp;72475 | &nbsp;&nbsp;&nbsp;&nbsp;460941 |
| Laredo Petroleum, Inc. (A) | &nbsp;&nbsp;&nbsp;2719 | &nbsp;&nbsp;&nbsp;&nbsp;139811 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;26751 | &nbsp;&nbsp;&nbsp;&nbsp;627311 |
| Marathon Oil Corp. | &nbsp;&nbsp;76807 | &nbsp;&nbsp;&nbsp;2079165 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;56528 | &nbsp;&nbsp;&nbsp;6579294 |
| Matador Resources Company | &nbsp;&nbsp;44390 | &nbsp;&nbsp;&nbsp;2540884 |
| Murphy Oil Corp. | &nbsp;&nbsp;57914 | &nbsp;&nbsp;&nbsp;2490881 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25270 |
| Neste OYJ | &nbsp;&nbsp;64526 | &nbsp;&nbsp;&nbsp;2975743 |
| NextDecade Corp. (A)(C) | &nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26676 |
| Nordic American Tankers, Ltd. | &nbsp;&nbsp;31997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97911 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;10726 | &nbsp;&nbsp;&nbsp;&nbsp;330575 |
| Occidental Petroleum Corp. | &nbsp;&nbsp;84491 | &nbsp;&nbsp;&nbsp;5322088 |
| OMV AG | &nbsp;&nbsp;22462 | &nbsp;&nbsp;&nbsp;1155466 |
| ONEOK, Inc. | &nbsp;&nbsp;50189 | &nbsp;&nbsp;&nbsp;3297417 |
| Par Pacific Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7797 | &nbsp;&nbsp;&nbsp;&nbsp;181280 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;42306 | &nbsp;&nbsp;&nbsp;1725239 |
| PDC Energy, Inc. | &nbsp;&nbsp;21640 | &nbsp;&nbsp;&nbsp;1373707 |
| Peabody Energy Corp. (A) | &nbsp;&nbsp;18835 | &nbsp;&nbsp;&nbsp;&nbsp;497621 |
| Permian Resources Corp. | &nbsp;&nbsp;33026 | &nbsp;&nbsp;&nbsp;&nbsp;310444 |
| Phillips 66 | &nbsp;&nbsp;54558 | &nbsp;&nbsp;&nbsp;5678397 |
| Pioneer Natural Resources Company | &nbsp;&nbsp;27053 | &nbsp;&nbsp;&nbsp;6178635 |
| Range Resources Corp. | &nbsp;&nbsp;56748 | &nbsp;&nbsp;&nbsp;1419835 |
| Ranger Oil Corp., Class A | &nbsp;&nbsp;&nbsp;3223 | &nbsp;&nbsp;&nbsp;&nbsp;130306 |
| Repsol SA | 210443 | &nbsp;&nbsp;&nbsp;3349624 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79427 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;1674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49266 |
| Ring Energy, Inc. (A)(C) | &nbsp;&nbsp;14656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36054 |
| SandRidge Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;5181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88232 |
| Santos, Ltd. | 486182 | &nbsp;&nbsp;&nbsp;2391138 |
| Scorpio Tankers, Inc. | &nbsp;&nbsp;&nbsp;7533 | &nbsp;&nbsp;&nbsp;&nbsp;405049 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| SFL Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18150 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167343 |
| Shell PLC | 1107956 | &nbsp;&nbsp;&nbsp;31234185 |
| SilverBow Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53902 |
| Sitio Royalties Corp., Class A (C) | &nbsp;&nbsp;&nbsp;&nbsp;11418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329415 |
| SM Energy Company | &nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675702 |
| Southwestern Energy Company (A) | &nbsp;&nbsp;259175 | &nbsp;&nbsp;&nbsp;&nbsp;1516174 |
| Talos Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201072 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26587 | &nbsp;&nbsp;&nbsp;&nbsp;1954145 |
| Teekay Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54816 |
| Teekay Tankers, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;3619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111501 |
| Tellurian, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;82385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138407 |
| The Williams Companies, Inc. | &nbsp;&nbsp;137656 | &nbsp;&nbsp;&nbsp;&nbsp;4528882 |
| TotalEnergies SE (C) | &nbsp;&nbsp;379495 | &nbsp;&nbsp;&nbsp;23822091 |
| Uranium Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;52561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203937 |
| Ur-Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41638 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78026 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44671 | &nbsp;&nbsp;&nbsp;&nbsp;5666963 |
| Vertex Energy, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;8733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54145 |
| W&T Offshore, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83555 |
| Washington H. Soul Pattinson & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;33033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619743 |
| Woodside Energy Group, Ltd. | &nbsp;&nbsp;289597 | &nbsp;&nbsp;&nbsp;&nbsp;7013517 |
| World Fuel Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267397 |
|  |  | 316299975 |
|  |  | 344862312 |
| **Financials – 14.0%** |  |  |
| **Banks – 6.1%** | **Banks – 6.1%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135061 |
| ABN AMRO Bank NV (B) | &nbsp;&nbsp;&nbsp;&nbsp;61601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853048 |
| ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57048 |
| AIB Group PLC | &nbsp;&nbsp;163100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626044 |
| Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51103 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120995 |
| American National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71275 |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;10616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500438 |
| ANZ Group Holdings, Ltd. | &nbsp;&nbsp;472177 | &nbsp;&nbsp;&nbsp;&nbsp;7606259 |
| Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82987 |
| Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59146 | &nbsp;&nbsp;&nbsp;&nbsp;1365681 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420415 |
| Banc of California, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136695 |
| BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273270 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;925389 | &nbsp;&nbsp;&nbsp;&nbsp;5573863 |
| Banco Santander SA | 2561472 | &nbsp;&nbsp;&nbsp;&nbsp;7659089 |
| Bank First Corp. (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91706 |
| Bank Hapoalim BM | &nbsp;&nbsp;193700 | &nbsp;&nbsp;&nbsp;&nbsp;1744059 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp;235462 | &nbsp;&nbsp;&nbsp;&nbsp;1961117 |
| Bank of America Corp. | &nbsp;&nbsp;792522 | &nbsp;&nbsp;&nbsp;26248329 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728831 |
| Bank of Ireland Group PLC | &nbsp;&nbsp;163245 | &nbsp;&nbsp;&nbsp;&nbsp;1555613 |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89828 |
| Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;25997 | &nbsp;&nbsp;&nbsp;&nbsp;1041440 |
| BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417491 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31549 |
| Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341090 |
| Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440458 |
| Bar Harbor Bankshares | &nbsp;&nbsp;&nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86572 |
| Barclays PLC | 2451701 | &nbsp;&nbsp;&nbsp;&nbsp;4665124 |
| BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47469 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43824 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209360 |
| Blue Ridge Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40680 |
| BNP Paribas SA | &nbsp;&nbsp;169434 | &nbsp;&nbsp;&nbsp;&nbsp;9647425 |
| BOC Hong Kong Holdings, Ltd. | &nbsp;&nbsp;564241 | &nbsp;&nbsp;&nbsp;&nbsp;1915483 |
| Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172078 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80324 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 144 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Byline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;4070 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93488 |
| Cadence Bank | &nbsp;&nbsp;71779 | &nbsp;&nbsp;&nbsp;1770070 |
| CaixaBank SA | 676174 | &nbsp;&nbsp;&nbsp;2651136 |
| Cambridge Bancorp | &nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94024 |
| Camden National Corp. | &nbsp;&nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89258 |
| Capital Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40489 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72085 |
| Capstar Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;3788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66896 |
| Carter Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;4219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69993 |
| Cathay General Bancorp | &nbsp;&nbsp;28854 | &nbsp;&nbsp;&nbsp;1176955 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;4617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93633 |
| Citigroup, Inc. | 219171 | &nbsp;&nbsp;&nbsp;9913104 |
| Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64008 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;55222 | &nbsp;&nbsp;&nbsp;2174090 |
| City Holding Company | &nbsp;&nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;205636 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59295 |
| CNB Financial Corp. | &nbsp;&nbsp;&nbsp;2747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65351 |
| Coastal Financial Corp. (A) | &nbsp;&nbsp;&nbsp;1726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82020 |
| Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;3392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43044 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;12449 | &nbsp;&nbsp;&nbsp;&nbsp;375088 |
| Comerica, Inc. | &nbsp;&nbsp;15240 | &nbsp;&nbsp;&nbsp;1018794 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;26782 | &nbsp;&nbsp;&nbsp;1823051 |
| Commerzbank AG (A) | 162357 | &nbsp;&nbsp;&nbsp;1517975 |
| Commonwealth Bank of Australia | 259518 | 18024774 |
| Community Bank System, Inc. | &nbsp;&nbsp;&nbsp;8393 | &nbsp;&nbsp;&nbsp;&nbsp;528339 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2342 | &nbsp;&nbsp;&nbsp;&nbsp;107568 |
| Concordia Financial Group, Ltd. | 166046 | &nbsp;&nbsp;&nbsp;&nbsp;693312 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;6241 | &nbsp;&nbsp;&nbsp;&nbsp;151095 |
| Credit Agricole SA | 184606 | &nbsp;&nbsp;&nbsp;1941933 |
| CrossFirst Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;7499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93063 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;15101 | &nbsp;&nbsp;&nbsp;2019004 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;4897 | &nbsp;&nbsp;&nbsp;&nbsp;138781 |
| CVB Financial Corp. | &nbsp;&nbsp;20851 | &nbsp;&nbsp;&nbsp;&nbsp;536913 |
| Danske Bank A/S | 105200 | &nbsp;&nbsp;&nbsp;2074871 |
| DBS Group Holdings, Ltd. | 276283 | &nbsp;&nbsp;&nbsp;6993166 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;5249 | &nbsp;&nbsp;&nbsp;&nbsp;167076 |
| DNB Bank ASA | 141877 | &nbsp;&nbsp;&nbsp;2802086 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;5068 | &nbsp;&nbsp;&nbsp;&nbsp;223347 |
| East West Bancorp, Inc. | &nbsp;&nbsp;33101 | &nbsp;&nbsp;&nbsp;2181356 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;24817 | &nbsp;&nbsp;&nbsp;&nbsp;428093 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;5558 | &nbsp;&nbsp;&nbsp;&nbsp;272120 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;&nbsp;2605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85105 |
| Erste Group Bank AG | &nbsp;&nbsp;52443 | &nbsp;&nbsp;&nbsp;1677925 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52128 |
| Farmers & Merchants Bancorp, Inc. (C) | &nbsp;&nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57187 |
| Farmers National Banc Corp. | &nbsp;&nbsp;&nbsp;5537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78182 |
| FB Financial Corp. | &nbsp;&nbsp;&nbsp;5728 | &nbsp;&nbsp;&nbsp;&nbsp;207010 |
| Fifth Third Bancorp | &nbsp;&nbsp;78766 | &nbsp;&nbsp;&nbsp;2584312 |
| Financial Institutions, Inc. | &nbsp;&nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60705 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp;93055 | &nbsp;&nbsp;&nbsp;1545281 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;&nbsp;5614 | &nbsp;&nbsp;&nbsp;&nbsp;240504 |
| First BanCorp (Puerto Rico) | &nbsp;&nbsp;29449 | &nbsp;&nbsp;&nbsp;&nbsp;374591 |
| First Bank | &nbsp;&nbsp;&nbsp;3111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42807 |
| First Busey Corp. | &nbsp;&nbsp;&nbsp;8174 | &nbsp;&nbsp;&nbsp;&nbsp;202061 |
| First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48977 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp;14765 | &nbsp;&nbsp;&nbsp;&nbsp;206267 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88920 |
| First Financial Bancorp | &nbsp;&nbsp;14944 | &nbsp;&nbsp;&nbsp;&nbsp;362093 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;51263 | &nbsp;&nbsp;&nbsp;1763447 |
| First Financial Corp. | &nbsp;&nbsp;&nbsp;1603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73866 |
| First Foundation, Inc. | &nbsp;&nbsp;&nbsp;8521 | &nbsp;&nbsp;&nbsp;&nbsp;122106 |
| First Horizon Corp. | 126023 | &nbsp;&nbsp;&nbsp;3087564 |
| First Internet Bancorp | &nbsp;&nbsp;&nbsp;1546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37537 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;14433 | &nbsp;&nbsp;&nbsp;&nbsp;557835 |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;9088 | &nbsp;&nbsp;&nbsp;&nbsp;373608 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| First Mid Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209 | $&nbsp;&nbsp;&nbsp;&nbsp;102945 |
| First Republic Bank | &nbsp;&nbsp;&nbsp;&nbsp;20747 | &nbsp;&nbsp;&nbsp;2528852 |
| First Western Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39438 |
| Five Star Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56005 |
| Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90543 |
| FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82382 | &nbsp;&nbsp;&nbsp;1075085 |
| Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64949 | &nbsp;&nbsp;&nbsp;1093092 |
| FVCBankcorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46264 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359 | &nbsp;&nbsp;&nbsp;&nbsp;162591 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43645 | &nbsp;&nbsp;&nbsp;2156936 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80074 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49708 |
| Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33829 | &nbsp;&nbsp;&nbsp;1636985 |
| Hang Seng Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;116590 | &nbsp;&nbsp;&nbsp;1933813 |
| Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853 | &nbsp;&nbsp;&nbsp;&nbsp;120112 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7441 | &nbsp;&nbsp;&nbsp;&nbsp;103430 |
| Heartland Financial USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6487 | &nbsp;&nbsp;&nbsp;&nbsp;302424 |
| Heritage Commerce Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9631 | &nbsp;&nbsp;&nbsp;&nbsp;125203 |
| Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5423 | &nbsp;&nbsp;&nbsp;&nbsp;166161 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7939 | &nbsp;&nbsp;&nbsp;&nbsp;238249 |
| Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74635 | &nbsp;&nbsp;&nbsp;1700932 |
| HomeStreet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85663 |
| HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66685 |
| Hope Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18488 | &nbsp;&nbsp;&nbsp;&nbsp;236831 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6838 | &nbsp;&nbsp;&nbsp;&nbsp;103117 |
| HSBC Holdings PLC | &nbsp;&nbsp;3045513 | 18874670 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;164444 | &nbsp;&nbsp;&nbsp;2318660 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 | &nbsp;&nbsp;&nbsp;&nbsp;611780 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82859 |
| Independent Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5724 | &nbsp;&nbsp;&nbsp;&nbsp;343898 |
| ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;574579 | &nbsp;&nbsp;&nbsp;6999032 |
| International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20833 | &nbsp;&nbsp;&nbsp;&nbsp;953318 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp;2548065 | &nbsp;&nbsp;&nbsp;5645005 |
| Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;188668 | &nbsp;&nbsp;&nbsp;&nbsp;990492 |
| Japan Post Bank Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;62900 | &nbsp;&nbsp;&nbsp;&nbsp;539238 |
| John Marshall Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56438 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;332593 | 44600721 |
| KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;38150 | &nbsp;&nbsp;&nbsp;2456298 |
| KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;104057 | &nbsp;&nbsp;&nbsp;1812673 |
| Lakeland Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9943 | &nbsp;&nbsp;&nbsp;&nbsp;175096 |
| Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843 | &nbsp;&nbsp;&nbsp;&nbsp;280424 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5415 | &nbsp;&nbsp;&nbsp;&nbsp;163533 |
| Lloyds Banking Group PLC | 10402068 | &nbsp;&nbsp;&nbsp;5676542 |
| M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19833 | &nbsp;&nbsp;&nbsp;2876975 |
| Macatawa Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57102 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;92321 | &nbsp;&nbsp;&nbsp;&nbsp;887118 |
| Mercantile Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83466 |
| Metrocity Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67810 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98390 |
| Mid Penn Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72887 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91253 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76613 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;1823168 | 12239680 |
| Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23520 | &nbsp;&nbsp;&nbsp;&nbsp;759113 |
| Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;367950 | &nbsp;&nbsp;&nbsp;5183786 |
| MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41398 |
| National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;483029 | &nbsp;&nbsp;&nbsp;9807231 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601 | &nbsp;&nbsp;&nbsp;&nbsp;193564 |
| NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;810572 | &nbsp;&nbsp;&nbsp;2585100 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;&nbsp;284835 |
| Nicolet Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917 | &nbsp;&nbsp;&nbsp;&nbsp;152957 |
| Nordea Bank ABP | &nbsp;&nbsp;&nbsp;&nbsp;512769 | &nbsp;&nbsp;&nbsp;5492757 |
| Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50057 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18768 | &nbsp;&nbsp;&nbsp;&nbsp;262377 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 145 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;9257 | $&nbsp;&nbsp;&nbsp;&nbsp;196711 |
| OFG Bancorp | &nbsp;&nbsp;&nbsp;7204 | &nbsp;&nbsp;&nbsp;&nbsp;198542 |
| Old National Bancorp | 115202 | 2071332 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;&nbsp;7010 | &nbsp;&nbsp;&nbsp;&nbsp;112440 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp;3579 | &nbsp;&nbsp;&nbsp;&nbsp;131349 |
| Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;48381 |
| Oversea-Chinese Banking Corp., Ltd. | 516424 | 4697410 |
| Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;15026 | &nbsp;&nbsp;&nbsp;&nbsp;474221 |
| PacWest Bancorp | &nbsp;&nbsp;27667 | &nbsp;&nbsp;&nbsp;&nbsp;634958 |
| Park National Corp. | &nbsp;&nbsp;&nbsp;2237 | &nbsp;&nbsp;&nbsp;&nbsp;314858 |
| Parke Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;&nbsp;&nbsp;41293 |
| Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;4655 | &nbsp;&nbsp;&nbsp;&nbsp;200398 |
| PCB Bancorp | &nbsp;&nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp;39006 |
| PCSB Financial Corp. | &nbsp;&nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp;50761 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp;105519 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp;125487 |
| Peoples Financial Services Corp. | &nbsp;&nbsp;&nbsp;1123 | &nbsp;&nbsp;&nbsp;&nbsp;58216 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;17955 | 1317897 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;2086 | &nbsp;&nbsp;&nbsp;&nbsp;155657 |
| Premier Financial Corp. | &nbsp;&nbsp;&nbsp;5763 | &nbsp;&nbsp;&nbsp;&nbsp;155428 |
| Primis Financial Corp. | &nbsp;&nbsp;&nbsp;4372 | &nbsp;&nbsp;&nbsp;&nbsp;51808 |
| Professional Holding Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2142 | &nbsp;&nbsp;&nbsp;&nbsp;59419 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;21444 | 1558550 |
| QCR Holdings, Inc. | &nbsp;&nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp;127525 |
| RBB Bancorp | &nbsp;&nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;52667 |
| Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;39265 |
| Regions Financial Corp. | 107659 | 2321128 |
| Renasant Corp. | &nbsp;&nbsp;&nbsp;8790 | &nbsp;&nbsp;&nbsp;&nbsp;330416 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp;56551 |
| Resona Holdings, Inc. | 329546 | 1810003 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;&nbsp;6129 | &nbsp;&nbsp;&nbsp;&nbsp;209489 |
| Sandy Spring Bancorp, Inc. | &nbsp;&nbsp;&nbsp;7046 | &nbsp;&nbsp;&nbsp;&nbsp;248231 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;9729 | &nbsp;&nbsp;&nbsp;&nbsp;303448 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;7994 | &nbsp;&nbsp;&nbsp;&nbsp;550867 |
| Shizuoka Financial Group, Inc. | &nbsp;&nbsp;68108 | &nbsp;&nbsp;&nbsp;&nbsp;545783 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp;3283 | &nbsp;&nbsp;&nbsp;&nbsp;57223 |
| Sierra Bancorp | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;55224 |
| Signature Bank | &nbsp;&nbsp;&nbsp;7315 | &nbsp;&nbsp;&nbsp;&nbsp;842834 |
| Silvergate Capital Corp., Class A (A)(C) | &nbsp;&nbsp;&nbsp;5037 | &nbsp;&nbsp;&nbsp;&nbsp;87644 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;19488 | &nbsp;&nbsp;&nbsp;&nbsp;420551 |
| Skandinaviska Enskilda Banken AB, A Shares | 246460 | 2837462 |
| SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;2771 | &nbsp;&nbsp;&nbsp;&nbsp;76203 |
| Societe Generale SA | 123143 | 3088874 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;1651 | &nbsp;&nbsp;&nbsp;&nbsp;45452 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;66658 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;4892 | &nbsp;&nbsp;&nbsp;&nbsp;176063 |
| SouthState Corp. | &nbsp;&nbsp;11892 | &nbsp;&nbsp;&nbsp;&nbsp;908073 |
| Standard Chartered PLC | 381331 | 2844163 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;7175 | &nbsp;&nbsp;&nbsp;&nbsp;211376 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;4535 | &nbsp;&nbsp;&nbsp;&nbsp;294684 |
| Sumitomo Mitsui Financial Group, Inc. | 199158 | 8012606 |
| Sumitomo Mitsui Trust Holdings, Inc. | &nbsp;&nbsp;51483 | 1796527 |
| SVB Financial Group (A) | &nbsp;&nbsp;&nbsp;6792 | 1563111 |
| Svenska Handelsbanken AB, A Shares | 222462 | 2239745 |
| Swedbank AB, A Shares | 138122 | 2349326 |
| Synovus Financial Corp. | &nbsp;&nbsp;34161 | 1282746 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;19735 | 1190218 |
| The Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;8916 | &nbsp;&nbsp;&nbsp;&nbsp;253036 |
| The Bank of NT Butterfield & Son, Ltd. | &nbsp;&nbsp;&nbsp;7844 | &nbsp;&nbsp;&nbsp;&nbsp;233830 |
| The Chiba Bank, Ltd. | &nbsp;&nbsp;80864 | &nbsp;&nbsp;&nbsp;&nbsp;589995 |
| The First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;3245 | &nbsp;&nbsp;&nbsp;&nbsp;103872 |
| The First of Long Island Corp. | &nbsp;&nbsp;&nbsp;3807 | &nbsp;&nbsp;&nbsp;&nbsp;68526 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;46292 | 7311358 |
| Third Coast Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;2438 | &nbsp;&nbsp;&nbsp;&nbsp;44932 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;2144 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166332 |
| Towne Bank | &nbsp;&nbsp;10785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332609 |
| TriCo Bancshares | &nbsp;&nbsp;&nbsp;4927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251228 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;3826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186977 |
| Truist Financial Corp. | 150345 | &nbsp;&nbsp;&nbsp;&nbsp;6469345 |
| Trustmark Corp. | &nbsp;&nbsp;&nbsp;9684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338068 |
| U.S. Bancorp | 152715 | &nbsp;&nbsp;&nbsp;&nbsp;6659901 |
| UMB Financial Corp. | &nbsp;&nbsp;17207 | &nbsp;&nbsp;&nbsp;&nbsp;1437129 |
| Umpqua Holdings Corp. | &nbsp;&nbsp;50975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909904 |
| UniCredit SpA | 293006 | &nbsp;&nbsp;&nbsp;&nbsp;4157622 |
| United Bankshares, Inc. | &nbsp;&nbsp;52377 | &nbsp;&nbsp;&nbsp;&nbsp;2120745 |
| United Community Banks, Inc. | &nbsp;&nbsp;16830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568854 |
| United Overseas Bank, Ltd. | 180039 | &nbsp;&nbsp;&nbsp;&nbsp;4123944 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38289 |
| Univest Financial Corp. | &nbsp;&nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124849 |
| USCB Financial Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27694 |
| Valley National Bancorp | 167751 | &nbsp;&nbsp;&nbsp;&nbsp;1897264 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;&nbsp;8476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238006 |
| Washington Federal, Inc. | &nbsp;&nbsp;25627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859786 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126395 |
| Webster Financial Corp. | &nbsp;&nbsp;40866 | &nbsp;&nbsp;&nbsp;&nbsp;1934596 |
| Wells Fargo & Company | 430160 | &nbsp;&nbsp;&nbsp;17761306 |
| WesBanco, Inc. | &nbsp;&nbsp;&nbsp;9168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339033 |
| West BanCorp, Inc. | &nbsp;&nbsp;&nbsp;3081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78720 |
| Westamerica BanCorp | &nbsp;&nbsp;&nbsp;4012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236748 |
| Westpac Banking Corp. | 533990 | &nbsp;&nbsp;&nbsp;&nbsp;8453867 |
| Wintrust Financial Corp. | &nbsp;&nbsp;14271 | &nbsp;&nbsp;&nbsp;&nbsp;1206185 |
| Zions Bancorp NA | &nbsp;&nbsp;16384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805437 |
|  |  | 422543962 |
| **Capital markets – 2.7%** | **Capital markets – 2.7%** |  |
| 3i Group PLC | 148443 | &nbsp;&nbsp;&nbsp;&nbsp;2393991 |
| abrdn PLC | 328156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745700 |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;8847 | &nbsp;&nbsp;&nbsp;&nbsp;1401630 |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;12195 | &nbsp;&nbsp;&nbsp;&nbsp;3797157 |
| Amundi SA (B) | &nbsp;&nbsp;&nbsp;9329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529037 |
| Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;9622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285773 |
| AssetMark Financial Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79810 |
| ASX, Ltd. | &nbsp;&nbsp;29527 | &nbsp;&nbsp;&nbsp;&nbsp;1359902 |
| B. Riley Financial, Inc. | &nbsp;&nbsp;&nbsp;3320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113544 |
| Bakkt Holdings, Inc. (A)(C) | &nbsp;&nbsp;11838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14087 |
| BGC Partners, Inc., Class A | &nbsp;&nbsp;51519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194227 |
| BlackRock, Inc. | &nbsp;&nbsp;17087 | &nbsp;&nbsp;&nbsp;12108361 |
| Blucora, Inc. (A) | &nbsp;&nbsp;&nbsp;7603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194105 |
| Brightsphere Investment Group, Inc. | &nbsp;&nbsp;&nbsp;5273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108518 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;11817 | &nbsp;&nbsp;&nbsp;&nbsp;1482679 |
| CME Group, Inc. | &nbsp;&nbsp;40625 | &nbsp;&nbsp;&nbsp;&nbsp;6831500 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;4070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262759 |
| Cowen, Inc., Class A | &nbsp;&nbsp;&nbsp;4159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160621 |
| Credit Suisse Group AG | 549364 | &nbsp;&nbsp;&nbsp;&nbsp;1640098 |
| Daiwa Securities Group, Inc. | 203508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899261 |
| Deutsche Bank AG | 315223 | &nbsp;&nbsp;&nbsp;&nbsp;3543598 |
| Deutsche Boerse AG | &nbsp;&nbsp;28979 | &nbsp;&nbsp;&nbsp;&nbsp;4989895 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88625 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;4145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160204 |
| Ellington Financial, Inc. | &nbsp;&nbsp;&nbsp;9122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112839 |
| EQT AB | &nbsp;&nbsp;45473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966087 |
| Euronext NV (B) | &nbsp;&nbsp;13069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967513 |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;8391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915290 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;4241 | &nbsp;&nbsp;&nbsp;&nbsp;1701532 |
| Federated Hermes, Inc. | &nbsp;&nbsp;33431 | &nbsp;&nbsp;&nbsp;&nbsp;1213880 |
| Focus Financial Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349406 |
| Franklin Resources, Inc. | &nbsp;&nbsp;32790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 |
| Futu Holdings, Ltd., ADR (A) | &nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369915 |
| GCM Grosvenor, Inc., Class A (C) | &nbsp;&nbsp;&nbsp;6948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52874 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 146 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;5678 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362711 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp;54258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558746 |
| Hong Kong Exchanges & Clearing, Ltd. | 183671 | &nbsp;&nbsp;&nbsp;&nbsp;7892387 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;7964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694142 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;24159 | &nbsp;&nbsp;&nbsp;&nbsp;1747904 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;63075 | &nbsp;&nbsp;&nbsp;&nbsp;6470864 |
| Invesco, Ltd. | &nbsp;&nbsp;51497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926431 |
| Janus Henderson Group PLC | &nbsp;&nbsp;31123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732013 |
| Japan Exchange Group, Inc. | &nbsp;&nbsp;76600 | &nbsp;&nbsp;&nbsp;&nbsp;1104020 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;43022 | &nbsp;&nbsp;&nbsp;&nbsp;1474794 |
| Julius Baer Group, Ltd. | &nbsp;&nbsp;32609 | &nbsp;&nbsp;&nbsp;&nbsp;1897879 |
| London Stock Exchange Group PLC | &nbsp;&nbsp;50195 | &nbsp;&nbsp;&nbsp;&nbsp;4312814 |
| Macquarie Group, Ltd. | &nbsp;&nbsp;55998 | &nbsp;&nbsp;&nbsp;&nbsp;6321527 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;4148 | &nbsp;&nbsp;&nbsp;&nbsp;1156836 |
| Moelis & Company, Class A | &nbsp;&nbsp;10215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391950 |
| Moody's Corp. | &nbsp;&nbsp;17866 | &nbsp;&nbsp;&nbsp;&nbsp;4977825 |
| Morgan Stanley | 151800 | &nbsp;&nbsp;&nbsp;12906036 |
| MSCI, Inc. | &nbsp;&nbsp;&nbsp;9159 | &nbsp;&nbsp;&nbsp;&nbsp;4260492 |
| Nasdaq, Inc. | &nbsp;&nbsp;38784 | &nbsp;&nbsp;&nbsp;&nbsp;2379398 |
| Nomura Holdings, Inc. | 443813 | &nbsp;&nbsp;&nbsp;&nbsp;1644538 |
| Northern Trust Corp. | &nbsp;&nbsp;23861 | &nbsp;&nbsp;&nbsp;&nbsp;2111460 |
| Open Lending Corp., Class A (A) | &nbsp;&nbsp;17590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118733 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54733 |
| Partners Group Holding AG | &nbsp;&nbsp;&nbsp;3461 | &nbsp;&nbsp;&nbsp;&nbsp;3064657 |
| Perella Weinberg Partners | &nbsp;&nbsp;&nbsp;7092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69502 |
| Piper Sandler Companies | &nbsp;&nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353466 |
| PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;3745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275969 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;21788 | &nbsp;&nbsp;&nbsp;&nbsp;2328048 |
| S&P Global, Inc. | &nbsp;&nbsp;38631 | &nbsp;&nbsp;&nbsp;12939067 |
| SBI Holdings, Inc. | &nbsp;&nbsp;37390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712382 |
| Schroders PLC | 111534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586055 |
| Sculptor Capital Management, Inc. | &nbsp;&nbsp;&nbsp;4475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38754 |
| SEI Investments Company | &nbsp;&nbsp;24065 | &nbsp;&nbsp;&nbsp;&nbsp;1402990 |
| Silvercrest Asset Management Group, Inc., Class A | &nbsp;&nbsp;&nbsp;1687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31665 |
| Singapore Exchange, Ltd. | 130748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874296 |
| St. James's Place PLC | &nbsp;&nbsp;82981 | &nbsp;&nbsp;&nbsp;&nbsp;1093139 |
| State Street Corp. | &nbsp;&nbsp;42038 | &nbsp;&nbsp;&nbsp;&nbsp;3260888 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;8581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216070 |
| Stifel Financial Corp. | &nbsp;&nbsp;24960 | &nbsp;&nbsp;&nbsp;&nbsp;1456915 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260455 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;25664 | &nbsp;&nbsp;&nbsp;&nbsp;2798916 |
| The Bank of New York Mellon Corp. | &nbsp;&nbsp;83687 | &nbsp;&nbsp;&nbsp;&nbsp;3809432 |
| The Charles Schwab Corp. | 173120 | &nbsp;&nbsp;&nbsp;14413971 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;38608 | &nbsp;&nbsp;&nbsp;13257215 |
| UBS Group AG | 510696 | &nbsp;&nbsp;&nbsp;&nbsp;9491907 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;2622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70348 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214604 |
| WisdomTree, Inc. | &nbsp;&nbsp;22254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121284 |
|  |  | 188539646 |
| **Consumer finance – 0.4%** | **Consumer finance – 0.4%** |  |
| American Express Company | &nbsp;&nbsp;68015 | &nbsp;&nbsp;&nbsp;10049216 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;7955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299585 |
| Capital One Financial Corp. | &nbsp;&nbsp;43522 | &nbsp;&nbsp;&nbsp;&nbsp;4045805 |
| Discover Financial Services | &nbsp;&nbsp;30980 | &nbsp;&nbsp;&nbsp;&nbsp;3030773 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;3647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174837 |
| Enova International, Inc. (A) | &nbsp;&nbsp;&nbsp;4941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189586 |
| EZCORP, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67800 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;14861 | &nbsp;&nbsp;&nbsp;&nbsp;1291570 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;&nbsp;7839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124013 |
| LendingClub Corp. (A) | &nbsp;&nbsp;16813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147954 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40058 |
| Moneylion, Inc. (A) | &nbsp;&nbsp;22870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14179 |
| Navient Corp. | &nbsp;&nbsp;41579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683975 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;2231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202463 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Consumer finance (continued)** | **Consumer finance (continued)** |  |
| NerdWallet, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;4412 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42355 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29209 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6251 | &nbsp;&nbsp;&nbsp;&nbsp;211159 |
| PROG Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8161 | &nbsp;&nbsp;&nbsp;&nbsp;137839 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35325 |
| SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58759 | &nbsp;&nbsp;&nbsp;&nbsp;975399 |
| Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;54259 | &nbsp;&nbsp;&nbsp;1782951 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44510 |
|  |  | 23620561 |
| **Diversified financial services – 1.2%** | **Diversified financial services – 1.2%** |  |
| Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63325 |
| A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98147 |
| Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;&nbsp;4409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71426 |
| Berkshire Hathaway, Inc., Class B (A) | &nbsp;&nbsp;204508 | 63172521 |
| Cannae Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;11553 | &nbsp;&nbsp;&nbsp;&nbsp;238569 |
| Compass Diversified Holdings | &nbsp;&nbsp;&nbsp;&nbsp;10084 | &nbsp;&nbsp;&nbsp;&nbsp;183831 |
| Eurazeo SE | &nbsp;&nbsp;&nbsp;&nbsp;6646 | &nbsp;&nbsp;&nbsp;&nbsp;413764 |
| EXOR NV (A) | &nbsp;&nbsp;&nbsp;&nbsp;16540 | &nbsp;&nbsp;&nbsp;1210964 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;&nbsp;15168 | &nbsp;&nbsp;&nbsp;1212191 |
| Industrivarden AB, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;19886 | &nbsp;&nbsp;&nbsp;&nbsp;483688 |
| Industrivarden AB, C Shares | &nbsp;&nbsp;&nbsp;&nbsp;23489 | &nbsp;&nbsp;&nbsp;&nbsp;569901 |
| Investor AB, A Shares | &nbsp;&nbsp;&nbsp;&nbsp;76062 | &nbsp;&nbsp;&nbsp;1415110 |
| Investor AB, B Shares | &nbsp;&nbsp;277882 | &nbsp;&nbsp;&nbsp;5029929 |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11689 | &nbsp;&nbsp;&nbsp;&nbsp;406660 |
| Kinnevik AB, B Shares (A) | &nbsp;&nbsp;&nbsp;&nbsp;37014 | &nbsp;&nbsp;&nbsp;&nbsp;509467 |
| L.E. Lundbergforetagen AB, B Shares | &nbsp;&nbsp;&nbsp;&nbsp;11592 | &nbsp;&nbsp;&nbsp;&nbsp;494205 |
| M&G PLC | &nbsp;&nbsp;383197 | &nbsp;&nbsp;&nbsp;&nbsp;866507 |
| Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;100696 | &nbsp;&nbsp;&nbsp;&nbsp;495278 |
| ORIX Corp. | &nbsp;&nbsp;182283 | &nbsp;&nbsp;&nbsp;2917741 |
| Sofina SA | &nbsp;&nbsp;&nbsp;&nbsp;2351 | &nbsp;&nbsp;&nbsp;&nbsp;519108 |
| Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22821 | &nbsp;&nbsp;&nbsp;1403263 |
| Wendel SE | &nbsp;&nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;379240 |
|  |  | 82154835 |
| **Insurance – 3.4%** | **Insurance – 3.4%** |  |
| Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;27475 | &nbsp;&nbsp;&nbsp;&nbsp;705308 |
| Aegon NV | &nbsp;&nbsp;272518 | &nbsp;&nbsp;&nbsp;1380759 |
| Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65243 | &nbsp;&nbsp;&nbsp;4693581 |
| Ageas SA/NV | &nbsp;&nbsp;&nbsp;&nbsp;24597 | &nbsp;&nbsp;&nbsp;1091414 |
| AIA Group, Ltd. | 1820335 | 20102654 |
| Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;62298 | 13304212 |
| Ambac Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7266 | &nbsp;&nbsp;&nbsp;&nbsp;126719 |
| American Equity Investment Life Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp;515506 |
| American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16397 | &nbsp;&nbsp;&nbsp;2250980 |
| American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86193 | &nbsp;&nbsp;&nbsp;5450845 |
| AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;158509 |
| Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;24008 | &nbsp;&nbsp;&nbsp;7205761 |
| Arch Capital Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42942 | &nbsp;&nbsp;&nbsp;2695899 |
| Argo Group International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;5215 | &nbsp;&nbsp;&nbsp;&nbsp;134808 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;&nbsp;&nbsp;24006 | &nbsp;&nbsp;&nbsp;4526091 |
| Assicurazioni Generali SpA | &nbsp;&nbsp;169417 | &nbsp;&nbsp;&nbsp;3012657 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6019 | &nbsp;&nbsp;&nbsp;&nbsp;752736 |
| Aviva PLC | &nbsp;&nbsp;427478 | &nbsp;&nbsp;&nbsp;2267619 |
| AXA SA | &nbsp;&nbsp;285077 | &nbsp;&nbsp;&nbsp;7940963 |
| Baloise Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;6985 | &nbsp;&nbsp;&nbsp;1077134 |
| Bright Health Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;33118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21523 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16235 | &nbsp;&nbsp;&nbsp;&nbsp;832368 |
| Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26141 | &nbsp;&nbsp;&nbsp;1489253 |
| BRP Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;9622 | &nbsp;&nbsp;&nbsp;&nbsp;241897 |
| Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;47367 | 10449160 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18039 | &nbsp;&nbsp;&nbsp;1847013 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44981 | &nbsp;&nbsp;&nbsp;1027816 |
| Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;149437 | &nbsp;&nbsp;&nbsp;3374791 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38368 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 147 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| eHealth, Inc. (A) | &nbsp;&nbsp;&nbsp;3180 | $&nbsp;&nbsp;&nbsp;&nbsp;15391 |
| Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;4331 | &nbsp;&nbsp;&nbsp;&nbsp;186796 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;1785 | &nbsp;&nbsp;&nbsp;&nbsp;412406 |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;4591 | 1520861 |
| First American Financial Corp. | &nbsp;&nbsp;24317 | 1272752 |
| Genworth Financial, Inc., Class A (A) | &nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;414736 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp;30504 | &nbsp;&nbsp;&nbsp;&nbsp;598306 |
| Globe Life, Inc. | &nbsp;&nbsp;10415 | 1255528 |
| Goosehead Insurance, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;107484 |
| Greenlight Capital Re, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;5223 | &nbsp;&nbsp;&nbsp;&nbsp;42567 |
| Hannover Rueck SE | &nbsp;&nbsp;&nbsp;9197 | 1814639 |
| HCI Group, Inc. | &nbsp;&nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;45410 |
| Hippo Holdings, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2914 | &nbsp;&nbsp;&nbsp;&nbsp;39630 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;6441 | &nbsp;&nbsp;&nbsp;&nbsp;240700 |
| Insurance Australia Group, Ltd. | 375975 | 1208635 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp;36592 |
| James River Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6039 | &nbsp;&nbsp;&nbsp;&nbsp;126275 |
| Japan Post Holdings Company, Ltd. | 362600 | 3050901 |
| Japan Post Insurance Company, Ltd. | &nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp;536407 |
| Kemper Corp. | &nbsp;&nbsp;15003 | &nbsp;&nbsp;&nbsp;&nbsp;738148 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;8511 | 2225797 |
| Legal & General Group PLC | 910957 | 2731169 |
| Lemonade, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;7541 | &nbsp;&nbsp;&nbsp;&nbsp;103161 |
| Lincoln National Corp. | &nbsp;&nbsp;17218 | &nbsp;&nbsp;&nbsp;&nbsp;528937 |
| Loews Corp. | &nbsp;&nbsp;22642 | 1320708 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;56748 | 9390659 |
| MBIA, Inc. (A) | &nbsp;&nbsp;&nbsp;7847 | &nbsp;&nbsp;&nbsp;&nbsp;100834 |
| Medibank Private, Ltd. | 420044 | &nbsp;&nbsp;&nbsp;&nbsp;838004 |
| Mercury General Corp. | &nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;&nbsp;149693 |
| MetLife, Inc. | &nbsp;&nbsp;76006 | 5500554 |
| MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;67951 | 2172382 |
| Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;21368 | 6911914 |
| National Western Life Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;97788 |
| NN Group NV | &nbsp;&nbsp;42553 | 1740085 |
| Old Republic International Corp. | &nbsp;&nbsp;66463 | 1605081 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;19718 | &nbsp;&nbsp;&nbsp;&nbsp;48506 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3882 | &nbsp;&nbsp;&nbsp;&nbsp;175311 |
| Phoenix Group Holdings PLC | 114391 | &nbsp;&nbsp;&nbsp;&nbsp;837969 |
| Poste Italiane SpA (B) | &nbsp;&nbsp;79684 | &nbsp;&nbsp;&nbsp;&nbsp;777434 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;8665 | 1228870 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;26614 | 2233447 |
| ProAssurance Corp. | &nbsp;&nbsp;&nbsp;8690 | &nbsp;&nbsp;&nbsp;&nbsp;151814 |
| Prudential Financial, Inc. | &nbsp;&nbsp;42360 | 4213126 |
| Prudential PLC | 419323 | 5717590 |
| QBE Insurance Group, Ltd. | 226225 | 2052243 |
| Reinsurance Group of America, Inc. | &nbsp;&nbsp;15696 | 2230245 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;10263 | 1890752 |
| RLI Corp. | &nbsp;&nbsp;15699 | 2060808 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;188153 |
| Sampo OYJ, A Shares | &nbsp;&nbsp;73172 | 3821733 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;23670 | 2097399 |
| SiriusPoint, Ltd. (A) | &nbsp;&nbsp;15332 | &nbsp;&nbsp;&nbsp;&nbsp;90459 |
| Sompo Holdings, Inc. | &nbsp;&nbsp;47691 | 2109997 |
| Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;4345 | &nbsp;&nbsp;&nbsp;&nbsp;185662 |
| Suncorp Group, Ltd. | 192571 | 1569224 |
| Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;4702 | 2423686 |
| Swiss Re AG | &nbsp;&nbsp;46003 | 4301344 |
| T&D Holdings, Inc. | &nbsp;&nbsp;80825 | 1156989 |
| The Allstate Corp. | &nbsp;&nbsp;30455 | 4129698 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;8352 | 1128606 |
| The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;37082 | 2811928 |
| The Progressive Corp. | &nbsp;&nbsp;66126 | 8577203 |
| The Travelers Companies, Inc. | &nbsp;&nbsp;26684 | 5002983 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Tiptree, Inc. | &nbsp;&nbsp;&nbsp;4434 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61367 |
| Tokio Marine Holdings, Inc. | 280055 | &nbsp;&nbsp;&nbsp;&nbsp;5982642 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;&nbsp;6295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299201 |
| Tryg A/S | &nbsp;&nbsp;54917 | &nbsp;&nbsp;&nbsp;&nbsp;1305133 |
| United Fire Group, Inc. | &nbsp;&nbsp;&nbsp;3499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95733 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;4625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48979 |
| Unum Group | &nbsp;&nbsp;43918 | &nbsp;&nbsp;&nbsp;&nbsp;1801956 |
| W.R. Berkley Corp. | &nbsp;&nbsp;23202 | &nbsp;&nbsp;&nbsp;&nbsp;1683769 |
| Willis Towers Watson PLC | &nbsp;&nbsp;12587 | &nbsp;&nbsp;&nbsp;&nbsp;3078528 |
| Zurich Insurance Group AG | &nbsp;&nbsp;22948 | &nbsp;&nbsp;&nbsp;10970916 |
|  |  | 236338677 |
| **Mortgage real estate investment trusts – 0.1%** | **Mortgage real estate investment trusts – 0.1%** |  |
| AFC Gamma, Inc. | &nbsp;&nbsp;&nbsp;2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44909 |
| Annaly Capital Management, Inc. | 109878 | &nbsp;&nbsp;&nbsp;&nbsp;2316228 |
| Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;22549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242627 |
| Arbor Realty Trust, Inc. | &nbsp;&nbsp;26532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349957 |
| Ares Commercial Real Estate Corp. | &nbsp;&nbsp;&nbsp;8209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84471 |
| ARMOUR Residential REIT, Inc. | &nbsp;&nbsp;18885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106323 |
| Blackstone Mortgage Trust, Inc., Class A | &nbsp;&nbsp;26974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571040 |
| BrightSpire Capital, Inc. | &nbsp;&nbsp;15443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96210 |
| Broadmark Realty Capital, Inc. | &nbsp;&nbsp;21441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76330 |
| Chimera Investment Corp. | &nbsp;&nbsp;37724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207482 |
| Claros Mortgage Trust, Inc. (C) | &nbsp;&nbsp;14724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216590 |
| Dynex Capital, Inc. | &nbsp;&nbsp;&nbsp;7077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90019 |
| Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp;13590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175311 |
| Granite Point Mortgage Trust, Inc. | &nbsp;&nbsp;&nbsp;8902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47715 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;13722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397664 |
| Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;&nbsp;5717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72777 |
| KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;8727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121829 |
| Ladder Capital Corp. | &nbsp;&nbsp;18132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182045 |
| MFA Financial, Inc. | &nbsp;&nbsp;16790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165382 |
| New York Mortgage Trust, Inc. | &nbsp;&nbsp;61889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158436 |
| Orchid Island Capital, Inc. (C) | &nbsp;&nbsp;&nbsp;6099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64040 |
| PennyMac Mortgage Investment Trust | &nbsp;&nbsp;14545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180213 |
| Ready Capital Corp. | &nbsp;&nbsp;11671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130015 |
| Redwood Trust, Inc. | &nbsp;&nbsp;19096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129089 |
| TPG RE Finance Trust, Inc. | &nbsp;&nbsp;11655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79137 |
| Two Harbors Investment Corp. | &nbsp;&nbsp;13947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;6525783 |
| **Thrifts and mortgage finance – 0.1%** | **Thrifts and mortgage finance – 0.1%** |  |
| Axos Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;9176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350707 |
| Blue Foundry Bancorp (A) | &nbsp;&nbsp;&nbsp;4917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63183 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;3591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63704 |
| Capitol Federal Financial, Inc. | &nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184764 |
| Columbia Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;5330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115235 |
| Enact Holdings, Inc. | &nbsp;&nbsp;&nbsp;4630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111676 |
| Essent Group, Ltd. | &nbsp;&nbsp;42016 | &nbsp;&nbsp;&nbsp;&nbsp;1633582 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160950 |
| Greene County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30662 |
| Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48636 |
| Kearny Financial Corp. | &nbsp;&nbsp;10337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104921 |
| Luther Burbank Corp. | &nbsp;&nbsp;&nbsp;2341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26009 |
| Merchants Bancorp | &nbsp;&nbsp;&nbsp;2593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63062 |
| MGIC Investment Corp. | &nbsp;&nbsp;69756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906828 |
| Mr. Cooper Group, Inc. (A) | &nbsp;&nbsp;11033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442754 |
| New York Community Bancorp, Inc. | 159765 | &nbsp;&nbsp;&nbsp;&nbsp;1373979 |
| NMI Holdings, Inc., Class A (A) | &nbsp;&nbsp;13280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277552 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;&nbsp;7144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112375 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;4293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243241 |
| Provident Bancorp, Inc. | &nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21221 |
| Provident Financial Services, Inc. | &nbsp;&nbsp;11585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247456 |
| Radian Group, Inc. | &nbsp;&nbsp;24783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472612 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 148 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thrifts and mortgage finance (continued)** | **Thrifts and mortgage finance (continued)** |  |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1350 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61871 |
| The Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67058 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113296 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;4941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387770 |
| Waterstone Financial, Inc. | &nbsp;&nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46307 |
| WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;9885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448186 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8179597 |
|  |  | 967903061 |
| **Health care – 14.2%** |  |  |
| **Biotechnology – 2.2%** | **Biotechnology – 2.2%** |  |
| 2seventy bio, Inc. (A) | &nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58581 |
| 4D Molecular Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114093 |
| Aadi Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30933 |
| AbbVie, Inc. | 200450 | &nbsp;&nbsp;&nbsp;32394725 |
| Absci Corp. (A)(C) | &nbsp;&nbsp;10290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21609 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;19264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306683 |
| Achillion Pharmaceuticals, Inc. (A)(D) | &nbsp;&nbsp;23194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34879 |
| Adicet Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;4533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40525 |
| ADMA Biologics, Inc. (A) | &nbsp;&nbsp;29862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115865 |
| Aduro Biotech, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;2435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4919 |
| Aerovate Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;1523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44624 |
| Affimed NV (A) | &nbsp;&nbsp;24202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30010 |
| Agenus, Inc. (A) | &nbsp;&nbsp;48502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116405 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247750 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297728 |
| Albireo Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62302 |
| Alector, Inc. (A) | &nbsp;&nbsp;10218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94312 |
| Alkermes PLC (A) | &nbsp;&nbsp;26138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682986 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;12924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81292 |
| Allovir, Inc. (A) | &nbsp;&nbsp;&nbsp;5009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25696 |
| Alpine Immune Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;2996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22021 |
| ALX Oncology Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39141 |
| Amgen, Inc. | &nbsp;&nbsp;60680 | &nbsp;&nbsp;&nbsp;15936995 |
| Amicus Therapeutics, Inc. (A) | &nbsp;&nbsp;44177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539401 |
| AnaptysBio, Inc. (A) | &nbsp;&nbsp;&nbsp;3190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98858 |
| Anavex Life Sciences Corp. (A)(C) | &nbsp;&nbsp;11166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103397 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71691 |
| Apellis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;14996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775443 |
| Arbutus Biopharma Corp. (A) | &nbsp;&nbsp;18169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42334 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;&nbsp;4787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148301 |
| Arcturus Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;3737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63380 |
| Arcus Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;8233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170258 |
| Arcutis Biotherapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97695 |
| Argenx SE (A) | &nbsp;&nbsp;&nbsp;8398 | &nbsp;&nbsp;&nbsp;&nbsp;3152657 |
| Arrowhead Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;41355 | &nbsp;&nbsp;&nbsp;&nbsp;1677359 |
| Atara Biotherapeutics, Inc. (A) | &nbsp;&nbsp;15306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50204 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32057 |
| Aurinia Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92759 |
| Avid Bioservices, Inc. (A) | &nbsp;&nbsp;&nbsp;9736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134065 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;8381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185974 |
| Beam Therapeutics, Inc. (A) | &nbsp;&nbsp;10196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398766 |
| BioCryst Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;29735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341358 |
| Biogen, Inc. (A) | &nbsp;&nbsp;16513 | &nbsp;&nbsp;&nbsp;&nbsp;4572780 |
| Biohaven, Ltd. (A) | &nbsp;&nbsp;&nbsp;9928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137801 |
| Bioxcel Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;3246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69724 |
| Bluebird Bio, Inc. (A) | &nbsp;&nbsp;13199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91337 |
| Blueprint Medicines Corp. (A) | &nbsp;&nbsp;&nbsp;9588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420050 |
| Bridgebio Pharma, Inc. (A) | &nbsp;&nbsp;16936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129052 |
| C4 Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41990 |
| CareDx, Inc. (A) | &nbsp;&nbsp;&nbsp;8224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93836 |
| Caribou Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;9142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57412 |
| Catalyst Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;15310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284766 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327634 |
| Celularity, Inc. (A) | &nbsp;&nbsp;11796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15217 |
| Century Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18206 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Cerevel Therapeutics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;8830 | $&nbsp;&nbsp;&nbsp;&nbsp;278498 |
| Chimerix, Inc. (A) | &nbsp;&nbsp;14974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27852 |
| Chinook Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7940 | &nbsp;&nbsp;&nbsp;&nbsp;208028 |
| Cogent Biosciences, Inc. (A) | &nbsp;&nbsp;10312 | &nbsp;&nbsp;&nbsp;&nbsp;119207 |
| Coherus Biosciences, Inc. (A) | &nbsp;&nbsp;12009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95111 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;8523 | &nbsp;&nbsp;&nbsp;&nbsp;155971 |
| CSL, Ltd. | &nbsp;&nbsp;73470 | 14326219 |
| CTI BioPharma Corp. (A)(C) | &nbsp;&nbsp;16239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97596 |
| Cullinan Oncology, Inc. (A) | &nbsp;&nbsp;&nbsp;5058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53362 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;13131 | &nbsp;&nbsp;&nbsp;&nbsp;601662 |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95248 |
| Deciphera Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7222 | &nbsp;&nbsp;&nbsp;&nbsp;118369 |
| Denali Therapeutics, Inc. (A) | &nbsp;&nbsp;17106 | &nbsp;&nbsp;&nbsp;&nbsp;475718 |
| Design Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56553 |
| Dynavax Technologies Corp. (A) | &nbsp;&nbsp;19009 | &nbsp;&nbsp;&nbsp;&nbsp;202256 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58101 |
| Eagle Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51240 |
| Editas Medicine, Inc. (A) | &nbsp;&nbsp;11231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99619 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;&nbsp;8139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96122 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;147003 |
| EQRx, Inc. (A) | &nbsp;&nbsp;32468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79871 |
| Erasca, Inc. (A) | &nbsp;&nbsp;10714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46177 |
| Exelixis, Inc. (A) | &nbsp;&nbsp;75753 | &nbsp;&nbsp;&nbsp;1215078 |
| Fate Therapeutics, Inc. (A) | &nbsp;&nbsp;13387 | &nbsp;&nbsp;&nbsp;&nbsp;135075 |
| FibroGen, Inc. (A) | &nbsp;&nbsp;14055 | &nbsp;&nbsp;&nbsp;&nbsp;225161 |
| Foghorn Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;3495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22298 |
| Generation Bio Company (A) | &nbsp;&nbsp;&nbsp;8275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32521 |
| Genmab A/S (A) | &nbsp;&nbsp;10037 | &nbsp;&nbsp;&nbsp;4243591 |
| Geron Corp. (A) | &nbsp;&nbsp;57593 | &nbsp;&nbsp;&nbsp;&nbsp;139375 |
| Gilead Sciences, Inc. | 141640 | 12159794 |
| Gossamer Bio, Inc. (A)(C) | &nbsp;&nbsp;10023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21750 |
| GreenLight Biosciences Holdings PBC (A) | &nbsp;&nbsp;12616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14887 |
| Grifols SA (A) | &nbsp;&nbsp;45495 | &nbsp;&nbsp;&nbsp;&nbsp;525395 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;53250 | &nbsp;&nbsp;&nbsp;3029925 |
| Heron Therapeutics, Inc. (A) | &nbsp;&nbsp;17053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42633 |
| HilleVax, Inc. (A) | &nbsp;&nbsp;&nbsp;2619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43816 |
| Icosavax, Inc. (A) | &nbsp;&nbsp;&nbsp;3656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29029 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;6864 | &nbsp;&nbsp;&nbsp;&nbsp;124719 |
| IGM Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;1754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29836 |
| Imago Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;4189 | &nbsp;&nbsp;&nbsp;&nbsp;150595 |
| ImmunityBio, Inc. (A)(C) | &nbsp;&nbsp;13352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67695 |
| ImmunoGen, Inc. (A) | &nbsp;&nbsp;34496 | &nbsp;&nbsp;&nbsp;&nbsp;171100 |
| Immunovant, Inc. (A) | &nbsp;&nbsp;&nbsp;6970 | &nbsp;&nbsp;&nbsp;&nbsp;123718 |
| Incyte Corp. (A) | &nbsp;&nbsp;20840 | &nbsp;&nbsp;&nbsp;1673869 |
| Inhibrx, Inc. (A) | &nbsp;&nbsp;&nbsp;5114 | &nbsp;&nbsp;&nbsp;&nbsp;126009 |
| Inovio Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;40545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63250 |
| Insmed, Inc. (A) | &nbsp;&nbsp;21173 | &nbsp;&nbsp;&nbsp;&nbsp;423037 |
| Intellia Therapeutics, Inc. (A) | &nbsp;&nbsp;13415 | &nbsp;&nbsp;&nbsp;&nbsp;468049 |
| Intercept Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;3967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49072 |
| Invivyd, Inc. (A) | &nbsp;&nbsp;&nbsp;8414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12621 |
| Iovance Biotherapeutics, Inc. (A) | &nbsp;&nbsp;24261 | &nbsp;&nbsp;&nbsp;&nbsp;155028 |
| Ironwood Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;21774 | &nbsp;&nbsp;&nbsp;&nbsp;269780 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;3813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74468 |
| IVERIC bio, Inc. (A) | &nbsp;&nbsp;21329 | &nbsp;&nbsp;&nbsp;&nbsp;456654 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37337 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;3963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26790 |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;943200 |
| Karyopharm Therapeutics, Inc. (A) | &nbsp;&nbsp;12477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42422 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;142139 |
| Kezar Life Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;8525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60016 |
| Kiniksa Pharmaceuticals, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;5052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75679 |
| Kinnate Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;4923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30030 |
| Kodiak Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;5784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41413 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;&nbsp;269031 |
| Kura Oncology, Inc. (A) | &nbsp;&nbsp;10098 | &nbsp;&nbsp;&nbsp;&nbsp;125316 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 149 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;6065 | $&nbsp;&nbsp;&nbsp;&nbsp;151382 |
| Lexicon Pharmaceuticals, Inc. (A) | 14599 | &nbsp;&nbsp;&nbsp;&nbsp;27884 |
| Lyell Immunopharma, Inc. (A)(C) | 28004 | &nbsp;&nbsp;&nbsp;&nbsp;97174 |
| MacroGenics, Inc. (A) | &nbsp;&nbsp;9830 | &nbsp;&nbsp;&nbsp;&nbsp;65959 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp;588337 |
| MannKind Corp. (A) | 40138 | &nbsp;&nbsp;&nbsp;&nbsp;211527 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;5324 | &nbsp;&nbsp;&nbsp;&nbsp;34712 |
| Mersana Therapeutics, Inc. (A) | 14676 | &nbsp;&nbsp;&nbsp;&nbsp;86001 |
| MiMedx Group, Inc. (A) | 19043 | &nbsp;&nbsp;&nbsp;&nbsp;52940 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2916 | &nbsp;&nbsp;&nbsp;&nbsp;56862 |
| Moderna, Inc. (A) | 38139 | 6850527 |
| Monte Rosa Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;4886 | &nbsp;&nbsp;&nbsp;&nbsp;37182 |
| Morphic Holding, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;110290 |
| Myriad Genetics, Inc. (A) | 12813 | &nbsp;&nbsp;&nbsp;&nbsp;185917 |
| Neurocrine Biosciences, Inc. (A) | 22577 | 2696597 |
| Nkarta, Inc. (A) | &nbsp;&nbsp;5286 | &nbsp;&nbsp;&nbsp;&nbsp;31663 |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;7611 | &nbsp;&nbsp;&nbsp;&nbsp;83569 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;3150 | &nbsp;&nbsp;&nbsp;&nbsp;93807 |
| Ocugen, Inc. (A)(C) | 36052 | &nbsp;&nbsp;&nbsp;&nbsp;46868 |
| Organogenesis Holdings, Inc. (A) | 12119 | &nbsp;&nbsp;&nbsp;&nbsp;32600 |
| PDL BioPharma, Inc. (A)(D) | 23030 | &nbsp;&nbsp;&nbsp;&nbsp;26945 |
| PepGen, Inc. (A) | &nbsp;&nbsp;2358 | &nbsp;&nbsp;&nbsp;&nbsp;31526 |
| PMV Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;6058 | &nbsp;&nbsp;&nbsp;&nbsp;52705 |
| Point Biopharma Global, Inc. (A)(C) | 13265 | &nbsp;&nbsp;&nbsp;&nbsp;96702 |
| Precigen, Inc. (A) | 17851 | &nbsp;&nbsp;&nbsp;&nbsp;27134 |
| Prime Medicine, Inc. (A) | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;23690 |
| Progenics Pharmaceuticals, Inc. (A)(D) | 15140 | &nbsp;&nbsp;&nbsp;&nbsp;17425 |
| Prometheus Biosciences, Inc. (A) | &nbsp;&nbsp;5510 | &nbsp;&nbsp;&nbsp;&nbsp;606100 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;7658 | &nbsp;&nbsp;&nbsp;&nbsp;83549 |
| Prothena Corp. PLC (A) | &nbsp;&nbsp;5747 | &nbsp;&nbsp;&nbsp;&nbsp;346257 |
| PTC Therapeutics, Inc. (A) | 11257 | &nbsp;&nbsp;&nbsp;&nbsp;429680 |
| Radius Health, Inc. (A)(D) | &nbsp;&nbsp;8191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 |
| Rallybio Corp. (A) | &nbsp;&nbsp;2851 | &nbsp;&nbsp;&nbsp;&nbsp;18731 |
| RAPT Therapeutics, Inc. (A) | &nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;81635 |
| Recursion Pharmaceuticals, Inc., Class A (A) | 22032 | &nbsp;&nbsp;&nbsp;&nbsp;169867 |
| Regeneron Pharmaceuticals, Inc. (A) | 12103 | 8732193 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;6467 | &nbsp;&nbsp;&nbsp;&nbsp;146672 |
| Relay Therapeutics, Inc. (A) | 13153 | &nbsp;&nbsp;&nbsp;&nbsp;196506 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;6607 | &nbsp;&nbsp;&nbsp;&nbsp;179710 |
| REVOLUTION Medicines, Inc. (A) | 12011 | &nbsp;&nbsp;&nbsp;&nbsp;286102 |
| Rigel Pharmaceuticals, Inc. (A) | 31166 | &nbsp;&nbsp;&nbsp;&nbsp;46749 |
| Rocket Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;8378 | &nbsp;&nbsp;&nbsp;&nbsp;163957 |
| Sage Therapeutics, Inc. (A) | &nbsp;&nbsp;8368 | &nbsp;&nbsp;&nbsp;&nbsp;319156 |
| Sana Biotechnology, Inc. (A)(C) | 14728 | &nbsp;&nbsp;&nbsp;&nbsp;58176 |
| Sangamo Therapeutics, Inc. (A) | 21079 | &nbsp;&nbsp;&nbsp;&nbsp;66188 |
| Seres Therapeutics, Inc. (A) | 11391 | &nbsp;&nbsp;&nbsp;&nbsp;63790 |
| Sorrento Therapeutics, Inc. (A) | 61822 | &nbsp;&nbsp;&nbsp;&nbsp;54774 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;5542 | &nbsp;&nbsp;&nbsp;&nbsp;144147 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp;34742 |
| Sutro Biopharma, Inc. (A) | &nbsp;&nbsp;8315 | &nbsp;&nbsp;&nbsp;&nbsp;67185 |
| Swedish Orphan Biovitrum AB (A) | 25762 | &nbsp;&nbsp;&nbsp;&nbsp;533195 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;8563 | &nbsp;&nbsp;&nbsp;&nbsp;217928 |
| Tango Therapeutics, Inc. (A) | &nbsp;&nbsp;7576 | &nbsp;&nbsp;&nbsp;&nbsp;54926 |
| TG Therapeutics, Inc. (A) | 21714 | &nbsp;&nbsp;&nbsp;&nbsp;256877 |
| Travere Therapeutics, Inc. (A) | &nbsp;&nbsp;9785 | &nbsp;&nbsp;&nbsp;&nbsp;205779 |
| Twist Bioscience Corp. (A) | &nbsp;&nbsp;9030 | &nbsp;&nbsp;&nbsp;&nbsp;215004 |
| Tyra Biosciences, Inc. (A) | &nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;12380 |
| United Therapeutics Corp. (A) | 10704 | 2976675 |
| Vanda Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;9003 | &nbsp;&nbsp;&nbsp;&nbsp;66532 |
| Vaxart, Inc. (A) | 20828 | &nbsp;&nbsp;&nbsp;&nbsp;20014 |
| Vaxcyte, Inc. (A) | 11304 | &nbsp;&nbsp;&nbsp;&nbsp;542027 |
| VBI Vaccines, Inc. (A) | 35315 | &nbsp;&nbsp;&nbsp;&nbsp;13812 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;44176 |
| Veracyte, Inc. (A) | 11530 | &nbsp;&nbsp;&nbsp;&nbsp;273607 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Vericel Corp. (A) | &nbsp;&nbsp;&nbsp;7589 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199894 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;29162 | &nbsp;&nbsp;&nbsp;&nbsp;8421402 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145202 |
| Vir Biotechnology, Inc. (A) | &nbsp;&nbsp;11591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293368 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173946 |
| Xencor, Inc. (A) | &nbsp;&nbsp;&nbsp;9249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240844 |
| Y-mAbs Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35287 |
| Zentalis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153124 |
|  |  | 150053265 |
| **Health care equipment and supplies – 2.6%** | **Health care equipment and supplies – 2.6%** |  |
| Abbott Laboratories | 198645 | &nbsp;&nbsp;&nbsp;21809235 |
| Abiomed, Inc. (A) | &nbsp;&nbsp;18209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37693 |
| Alcon, Inc. | &nbsp;&nbsp;76214 | &nbsp;&nbsp;&nbsp;&nbsp;5229725 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;8108 | &nbsp;&nbsp;&nbsp;&nbsp;1709977 |
| Alphatec Holdings, Inc. (A) | &nbsp;&nbsp;11717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144705 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;&nbsp;6158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84796 |
| Artivion, Inc. (A) | &nbsp;&nbsp;&nbsp;6439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78041 |
| Asahi Intecc Company, Ltd. | &nbsp;&nbsp;33100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539936 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;&nbsp;7328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325217 |
| Atrion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120282 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;7419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200758 |
| Axogen, Inc. (A) | &nbsp;&nbsp;&nbsp;6492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64790 |
| Axonics, Inc. (A) | &nbsp;&nbsp;&nbsp;7828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489485 |
| Baxter International, Inc. | &nbsp;&nbsp;56792 | &nbsp;&nbsp;&nbsp;&nbsp;2894688 |
| Becton, Dickinson and Company | &nbsp;&nbsp;32261 | &nbsp;&nbsp;&nbsp;&nbsp;8203972 |
| BioMerieux | &nbsp;&nbsp;&nbsp;6387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671040 |
| Bioventus, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14050 |
| Boston Scientific Corp. (A) | 161632 | &nbsp;&nbsp;&nbsp;&nbsp;7478713 |
| Butterfly Network, Inc. (A)(C) | &nbsp;&nbsp;21641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53237 |
| Cardiovascular Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;6570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89483 |
| Carl Zeiss Meditec AG, Bearer Shares | &nbsp;&nbsp;&nbsp;6139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771635 |
| Cerus Corp. (A) | &nbsp;&nbsp;28150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102748 |
| Cochlear, Ltd. | &nbsp;&nbsp;10033 | &nbsp;&nbsp;&nbsp;&nbsp;1385631 |
| Coloplast A/S, B Shares | &nbsp;&nbsp;18119 | &nbsp;&nbsp;&nbsp;&nbsp;2122689 |
| CONMED Corp. | &nbsp;&nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412442 |
| Cutera, Inc. (A) | &nbsp;&nbsp;&nbsp;2627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116166 |
| Demant A/S (A) | &nbsp;&nbsp;14055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391934 |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;25493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811697 |
| DexCom, Inc. (A) | &nbsp;&nbsp;44524 | &nbsp;&nbsp;&nbsp;&nbsp;5041898 |
| DiaSorin SpA | &nbsp;&nbsp;&nbsp;3840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537314 |
| Edwards Lifesciences Corp. (A) | &nbsp;&nbsp;70313 | &nbsp;&nbsp;&nbsp;&nbsp;5246053 |
| Embecta Corp. | &nbsp;&nbsp;&nbsp;9352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236512 |
| Enovis Corp. (A) | &nbsp;&nbsp;11191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598942 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;38291 | &nbsp;&nbsp;&nbsp;&nbsp;1289258 |
| EssilorLuxottica SA | &nbsp;&nbsp;44356 | &nbsp;&nbsp;&nbsp;&nbsp;8025462 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;20664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139069 |
| Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;88058 | &nbsp;&nbsp;&nbsp;&nbsp;1259942 |
| Getinge AB, B Shares | &nbsp;&nbsp;34887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725321 |
| Glaukos Corp. (A) | &nbsp;&nbsp;&nbsp;7311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319344 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;18180 | &nbsp;&nbsp;&nbsp;&nbsp;1350229 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;19983 | &nbsp;&nbsp;&nbsp;&nbsp;1571663 |
| Heska Corp. (A) | &nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98648 |
| Hologic, Inc. (A) | &nbsp;&nbsp;28672 | &nbsp;&nbsp;&nbsp;&nbsp;2144952 |
| Hoya Corp. | &nbsp;&nbsp;55107 | &nbsp;&nbsp;&nbsp;&nbsp;5278066 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;4731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745038 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;9492 | &nbsp;&nbsp;&nbsp;&nbsp;3872356 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;19056 | &nbsp;&nbsp;&nbsp;&nbsp;1211199 |
| Inogen, Inc. (A) | &nbsp;&nbsp;&nbsp;3792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74740 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;4511 | &nbsp;&nbsp;&nbsp;&nbsp;1136231 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;5272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360921 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;17064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956778 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;40573 | &nbsp;&nbsp;&nbsp;10766046 |
| iRadimed Corp. | &nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33863 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;4772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446993 |
| Koninklijke Philips NV | 135639 | &nbsp;&nbsp;&nbsp;&nbsp;2040988 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 150 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;27074 | $&nbsp;&nbsp;&nbsp;&nbsp;1379691 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143582 |
| LivaNova PLC (A) | &nbsp;&nbsp;21181 | &nbsp;&nbsp;&nbsp;&nbsp;1176393 |
| Masimo Corp. (A) | &nbsp;&nbsp;11357 | &nbsp;&nbsp;&nbsp;&nbsp;1680268 |
| Medtronic PLC | 150661 | &nbsp;&nbsp;&nbsp;11709373 |
| Meridian Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;6742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223902 |
| Merit Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;8921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630001 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136957 |
| Nano-X Imaging, Ltd. (A)(C) | &nbsp;&nbsp;&nbsp;7475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55166 |
| Neogen Corp. (A) | &nbsp;&nbsp;83634 | &nbsp;&nbsp;&nbsp;&nbsp;1273746 |
| Nevro Corp. (A) | &nbsp;&nbsp;&nbsp;5615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222354 |
| NuVasive, Inc. (A) | &nbsp;&nbsp;&nbsp;8374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345344 |
| Olympus Corp. | 186308 | &nbsp;&nbsp;&nbsp;&nbsp;3286022 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;17529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883812 |
| OraSure Technologies, Inc. (A) | &nbsp;&nbsp;11757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56669 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;3308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67913 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96067 |
| Outset Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;7872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203255 |
| Paragon 28, Inc. (A) | &nbsp;&nbsp;&nbsp;7310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139694 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;8919 | &nbsp;&nbsp;&nbsp;&nbsp;1984121 |
| PROCEPT BioRobotics Corp. (A)(C) | &nbsp;&nbsp;&nbsp;4089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169857 |
| Pulmonx Corp. (A) | &nbsp;&nbsp;&nbsp;5698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48034 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;12564 | &nbsp;&nbsp;&nbsp;&nbsp;1076358 |
| ResMed, Inc. | &nbsp;&nbsp;16520 | &nbsp;&nbsp;&nbsp;&nbsp;3438308 |
| RxSight, Inc. (A) | &nbsp;&nbsp;&nbsp;3583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45397 |
| SeaSpine Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;6411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53532 |
| Senseonics Holdings, Inc. (A)(C) | &nbsp;&nbsp;74269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76497 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;14184 | &nbsp;&nbsp;&nbsp;&nbsp;2916372 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;&nbsp;5455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74188 |
| Siemens Healthineers AG (B) | &nbsp;&nbsp;43010 | &nbsp;&nbsp;&nbsp;&nbsp;2145407 |
| Sight Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;3832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46789 |
| Silk Road Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;5733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302989 |
| Smith & Nephew PLC | 132785 | &nbsp;&nbsp;&nbsp;&nbsp;1773320 |
| Sonova Holding AG | &nbsp;&nbsp;&nbsp;8190 | &nbsp;&nbsp;&nbsp;&nbsp;1945113 |
| STAAR Surgical Company (A) | &nbsp;&nbsp;18999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922211 |
| STERIS PLC | &nbsp;&nbsp;11510 | &nbsp;&nbsp;&nbsp;&nbsp;2125782 |
| Straumann Holding AG | &nbsp;&nbsp;17024 | &nbsp;&nbsp;&nbsp;&nbsp;1952161 |
| Stryker Corp. | &nbsp;&nbsp;38076 | &nbsp;&nbsp;&nbsp;&nbsp;9309201 |
| Surmodics, Inc. (A) | &nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77623 |
| Sysmex Corp. | &nbsp;&nbsp;25579 | &nbsp;&nbsp;&nbsp;&nbsp;1544219 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;3567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40949 |
| Tandem Diabetes Care, Inc. (A) | &nbsp;&nbsp;15101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678790 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;5463 | &nbsp;&nbsp;&nbsp;&nbsp;1363729 |
| Terumo Corp. | &nbsp;&nbsp;98434 | &nbsp;&nbsp;&nbsp;&nbsp;2790661 |
| The Cooper Companies, Inc. | &nbsp;&nbsp;&nbsp;5654 | &nbsp;&nbsp;&nbsp;&nbsp;1869608 |
| TransMedics Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301564 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;&nbsp;5303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121916 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126496 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57202 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;&nbsp;6214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126144 |
| Vicarious Surgical, Inc. (A) | &nbsp;&nbsp;&nbsp;9803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19802 |
| ViewRay, Inc. (A) | &nbsp;&nbsp;24117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108044 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;23996 | &nbsp;&nbsp;&nbsp;&nbsp;3059490 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;&nbsp;3627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33876 |
| Zynex, Inc. (C) | &nbsp;&nbsp;&nbsp;3544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49297 |
|  |  | 178347847 |
| **Health care providers and services – 2.3%** | **Health care providers and services – 2.3%** |  |
| 1Life Healthcare, Inc. (A) | &nbsp;&nbsp;28946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483688 |
| 23andMe Holding Company, Class A (A) | &nbsp;&nbsp;42616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92051 |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;21366 | &nbsp;&nbsp;&nbsp;&nbsp;1758849 |
| Accolade, Inc. (A) | &nbsp;&nbsp;10671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83127 |
| AdaptHealth Corp. (A) | &nbsp;&nbsp;11567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222318 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;&nbsp;2480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246735 |
| Agiliti, Inc. (A) | &nbsp;&nbsp;&nbsp;4569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74520 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;14795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173989 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| Amedisys, Inc. (A) | &nbsp;&nbsp;&nbsp;7631 | $&nbsp;&nbsp;&nbsp;&nbsp;637494 |
| AmerisourceBergen Corp. | &nbsp;&nbsp;17610 | &nbsp;&nbsp;&nbsp;2918153 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;&nbsp;6911 | &nbsp;&nbsp;&nbsp;&nbsp;710589 |
| Amplifon SpA | &nbsp;&nbsp;18991 | &nbsp;&nbsp;&nbsp;&nbsp;567067 |
| Apollo Medical Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6279 | &nbsp;&nbsp;&nbsp;&nbsp;185796 |
| Brookdale Senior Living, Inc. (A) | &nbsp;&nbsp;30057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82056 |
| Cano Health, Inc. (A) | &nbsp;&nbsp;26667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36534 |
| Cardinal Health, Inc. | &nbsp;&nbsp;31313 | &nbsp;&nbsp;&nbsp;2407030 |
| CareMax, Inc. (A) | &nbsp;&nbsp;&nbsp;9560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34894 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;4056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95478 |
| Centene Corp. (A) | &nbsp;&nbsp;64809 | &nbsp;&nbsp;&nbsp;5314986 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;3492 | &nbsp;&nbsp;&nbsp;1782422 |
| Cigna Corp. | &nbsp;&nbsp;34591 | 11461382 |
| Clover Health Investments Corp. (A) | &nbsp;&nbsp;63910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59404 |
| Community Health Systems, Inc. (A) | &nbsp;&nbsp;20953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90517 |
| CorVel Corp. (A) | &nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;207677 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;5865 | &nbsp;&nbsp;&nbsp;&nbsp;155833 |
| CVS Health Corp. | 148983 | 13883726 |
| DaVita, Inc. (A) | &nbsp;&nbsp;&nbsp;6304 | &nbsp;&nbsp;&nbsp;&nbsp;470720 |
| DocGo, Inc. (A) | &nbsp;&nbsp;12997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91889 |
| Elevance Health, Inc. | &nbsp;&nbsp;27253 | 13979971 |
| Encompass Health Corp. | &nbsp;&nbsp;23435 | &nbsp;&nbsp;&nbsp;1401647 |
| Fresenius Medical Care AG & Company KGaA | &nbsp;&nbsp;31326 | &nbsp;&nbsp;&nbsp;1023186 |
| Fresenius SE & Company KGaA | &nbsp;&nbsp;64429 | &nbsp;&nbsp;&nbsp;1799623 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;&nbsp;3492 | &nbsp;&nbsp;&nbsp;&nbsp;103992 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;24402 | &nbsp;&nbsp;&nbsp;5855504 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;33128 | &nbsp;&nbsp;&nbsp;2042010 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;15128 | &nbsp;&nbsp;&nbsp;1208273 |
| Hims & Hers Health, Inc. (A) | &nbsp;&nbsp;19946 | &nbsp;&nbsp;&nbsp;&nbsp;127854 |
| Humana, Inc. | &nbsp;&nbsp;14293 | &nbsp;&nbsp;&nbsp;7320732 |
| Invitae Corp. (A)(C) | &nbsp;&nbsp;39220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72949 |
| Laboratory Corp. of America Holdings | &nbsp;&nbsp;10362 | &nbsp;&nbsp;&nbsp;2440044 |
| LHC Group, Inc. (A) | &nbsp;&nbsp;12043 | &nbsp;&nbsp;&nbsp;1947233 |
| LifeStance Health Group, Inc. (A)(C) | &nbsp;&nbsp;11674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57670 |
| McKesson Corp. | &nbsp;&nbsp;16233 | &nbsp;&nbsp;&nbsp;6089323 |
| ModivCare, Inc. (A) | &nbsp;&nbsp;&nbsp;2037 | &nbsp;&nbsp;&nbsp;&nbsp;182780 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;6586 | &nbsp;&nbsp;&nbsp;2174829 |
| National HealthCare Corp. | &nbsp;&nbsp;&nbsp;2062 | &nbsp;&nbsp;&nbsp;&nbsp;122689 |
| National Research Corp. | &nbsp;&nbsp;&nbsp;2253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84037 |
| NMC Health PLC (A) | &nbsp;&nbsp;19536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 |
| OPKO Health, Inc. (A) | &nbsp;&nbsp;66354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82943 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;61363 | &nbsp;&nbsp;&nbsp;1846413 |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;11871 | &nbsp;&nbsp;&nbsp;&nbsp;231841 |
| Patterson Companies, Inc. | &nbsp;&nbsp;34237 | &nbsp;&nbsp;&nbsp;&nbsp;959663 |
| Pediatrix Medical Group, Inc. (A) | &nbsp;&nbsp;13443 | &nbsp;&nbsp;&nbsp;&nbsp;199763 |
| PetIQ, Inc. (A) | &nbsp;&nbsp;&nbsp;4816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44404 |
| Privia Health Group, Inc. (A) | &nbsp;&nbsp;&nbsp;7166 | &nbsp;&nbsp;&nbsp;&nbsp;162740 |
| Progyny, Inc. (A) | &nbsp;&nbsp;29679 | &nbsp;&nbsp;&nbsp;&nbsp;924501 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;13036 | &nbsp;&nbsp;&nbsp;2039352 |
| R1 RCM, Inc. (A) | &nbsp;&nbsp;56425 | &nbsp;&nbsp;&nbsp;&nbsp;617854 |
| RadNet, Inc. (A) | &nbsp;&nbsp;&nbsp;8154 | &nbsp;&nbsp;&nbsp;&nbsp;153540 |
| Ramsay Health Care, Ltd. | &nbsp;&nbsp;27927 | &nbsp;&nbsp;&nbsp;1226305 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;16741 | &nbsp;&nbsp;&nbsp;&nbsp;415679 |
| Sonic Healthcare, Ltd. | &nbsp;&nbsp;69562 | &nbsp;&nbsp;&nbsp;1415658 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;7653 | &nbsp;&nbsp;&nbsp;&nbsp;213213 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;25393 | &nbsp;&nbsp;&nbsp;1238924 |
| The Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;8615 | &nbsp;&nbsp;&nbsp;&nbsp;815065 |
| The Joint Corp. (A) | &nbsp;&nbsp;&nbsp;2548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35621 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46270 |
| UnitedHealth Group, Inc. | 106039 | 56219757 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;1056675 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 151 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| US Physical Therapy, Inc. | &nbsp;&nbsp;2077 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168299 |
|  |  | 162477789 |
| **Health care technology – 0.1%** | **Health care technology – 0.1%** |  |
| Allscripts Healthcare Solutions, Inc. (A) | 17515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308965 |
| American Well Corp., Class A (A) | 36876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104359 |
| Computer Programs and Systems, Inc. (A) | &nbsp;&nbsp;2353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64049 |
| Evolent Health, Inc., Class A (A) | 13117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368325 |
| Health Catalyst, Inc. (A) | &nbsp;&nbsp;9278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98625 |
| HealthStream, Inc. (A) | &nbsp;&nbsp;3868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96081 |
| M3, Inc. | 67286 | &nbsp;&nbsp;&nbsp;&nbsp;1827710 |
| MultiPlan Corp. (A) | 60963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70107 |
| NextGen Healthcare, Inc. (A) | &nbsp;&nbsp;8975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168551 |
| Nutex Health, Inc. (A) | 38816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73750 |
| OptimizeRx Corp. (A) | &nbsp;&nbsp;3055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51324 |
| Pear Therapeutics, Inc. (A)(C) | 11658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13756 |
| Phreesia, Inc. (A) | &nbsp;&nbsp;7917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256194 |
| Schrodinger, Inc. (A) | &nbsp;&nbsp;8737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163295 |
| Sharecare, Inc. (A) | 48585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77736 |
| Simulations Plus, Inc. | &nbsp;&nbsp;2511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91827 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3834654 |
| **Life sciences tools and services – 1.3%** | **Life sciences tools and services – 1.3%** |  |
| AbCellera Biologics, Inc. (A) | 33171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336022 |
| Adaptive Biotechnologies Corp. (A) | 18288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139720 |
| Agilent Technologies, Inc. | 33939 | &nbsp;&nbsp;&nbsp;&nbsp;5078971 |
| Akoya Biosciences, Inc. (A) | &nbsp;&nbsp;2547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24375 |
| Azenta, Inc. (A) | 17618 | &nbsp;&nbsp;&nbsp;&nbsp;1025720 |
| Bachem Holding AG | &nbsp;&nbsp;5062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439232 |
| Berkeley Lights, Inc. (A) | 10771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28866 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;5379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97898 |
| Bionano Genomics, Inc. (A)(C) | 46787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68309 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993618 |
| Bio-Techne Corp. | 17388 | &nbsp;&nbsp;&nbsp;&nbsp;1441117 |
| Bruker Corp. | 23489 | &nbsp;&nbsp;&nbsp;&nbsp;1605473 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;5885 | &nbsp;&nbsp;&nbsp;&nbsp;1282342 |
| Codexis, Inc. (A) | 10651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49634 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;7073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122717 |
| Cytek Biosciences, Inc. (A) | 18347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187323 |
| Danaher Corp. | 74228 | &nbsp;&nbsp;&nbsp;19701596 |
| Eurofins Scientific SE | 20549 | &nbsp;&nbsp;&nbsp;&nbsp;1475380 |
| Illumina, Inc. (A) | 17668 | &nbsp;&nbsp;&nbsp;&nbsp;3572470 |
| Inotiv, Inc. (A) | &nbsp;&nbsp;2885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14252 |
| IQVIA Holdings, Inc. (A) | 20978 | &nbsp;&nbsp;&nbsp;&nbsp;4298182 |
| Lonza Group AG | 11358 | &nbsp;&nbsp;&nbsp;&nbsp;5575363 |
| MaxCyte, Inc. (A) | 14299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78073 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;9974 | &nbsp;&nbsp;&nbsp;&nbsp;2118577 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;2567 | &nbsp;&nbsp;&nbsp;&nbsp;3710470 |
| NanoString Technologies, Inc. (A) | &nbsp;&nbsp;7731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61616 |
| NeoGenomics, Inc. (A) | 20776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191970 |
| OmniAb, Inc. (A) | 12504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45014 |
| OmniAb, Inc., Earnout Shares (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc., Earnout Shares (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Pacific Biosciences of California, Inc. (A) | 36313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297040 |
| PerkinElmer, Inc. | 14504 | &nbsp;&nbsp;&nbsp;&nbsp;2033751 |
| QIAGEN NV (A) | 34726 | &nbsp;&nbsp;&nbsp;&nbsp;1745693 |
| Quanterix Corp. (A) | &nbsp;&nbsp;5546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76812 |
| Quantum-Si, Inc. (A)(C) | 15902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29101 |
| Repligen Corp. (A) | 12127 | &nbsp;&nbsp;&nbsp;&nbsp;2053222 |
| Sartorius Stedim Biotech | &nbsp;&nbsp;4218 | &nbsp;&nbsp;&nbsp;&nbsp;1370715 |
| Seer, Inc. (A) | &nbsp;&nbsp;8754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50773 |
| Singular Genomics Systems, Inc. (A)(C) | 11256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22625 |
| SomaLogic, Inc. (A) | 25228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63322 |
| Sotera Health Company (A) | 23189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193164 |
| Syneos Health, Inc. (A) | 24167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886446 |
| Thermo Fisher Scientific, Inc. | 44419 | &nbsp;&nbsp;&nbsp;24461099 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;6784 | $&nbsp;&nbsp;&nbsp;2324063 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;8265 | &nbsp;&nbsp;&nbsp;1945168 |
|  |  | 91317294 |
| **Pharmaceuticals – 5.7%** | **Pharmaceuticals – 5.7%** |  |
| Aclaris Therapeutics, Inc. (A) | &nbsp;&nbsp;10441 | &nbsp;&nbsp;&nbsp;&nbsp;164446 |
| Amneal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;18162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36142 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;6070 | &nbsp;&nbsp;&nbsp;&nbsp;170081 |
| Amylyx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7837 | &nbsp;&nbsp;&nbsp;&nbsp;289577 |
| AN2 Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14895 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81747 |
| Arvinas, Inc. (A) | &nbsp;&nbsp;&nbsp;7813 | &nbsp;&nbsp;&nbsp;&nbsp;267283 |
| Astellas Pharma, Inc. | 280047 | &nbsp;&nbsp;&nbsp;4258291 |
| AstraZeneca PLC | 236327 | 31979616 |
| Atea Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;12621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60707 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5068 | &nbsp;&nbsp;&nbsp;&nbsp;390895 |
| Bayer AG | 149839 | &nbsp;&nbsp;&nbsp;7712221 |
| Bristol-Myers Squibb Company | 241978 | 17410317 |
| Cara Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;7427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79766 |
| Cassava Sciences, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;6114 | &nbsp;&nbsp;&nbsp;&nbsp;180608 |
| Catalent, Inc. (A) | &nbsp;&nbsp;20672 | &nbsp;&nbsp;&nbsp;&nbsp;930447 |
| Chugai Pharmaceutical Company, Ltd. | 102402 | &nbsp;&nbsp;&nbsp;2611942 |
| CinCor Pharma, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46346 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;5516 | &nbsp;&nbsp;&nbsp;&nbsp;127971 |
| Corcept Therapeutics, Inc. (A) | &nbsp;&nbsp;13602 | &nbsp;&nbsp;&nbsp;&nbsp;276257 |
| Daiichi Sankyo Company, Ltd. | 267258 | &nbsp;&nbsp;&nbsp;8602151 |
| DICE Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5532 | &nbsp;&nbsp;&nbsp;&nbsp;172598 |
| Edgewise Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;5478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48973 |
| Eisai Company, Ltd. | &nbsp;&nbsp;38468 | &nbsp;&nbsp;&nbsp;2537043 |
| Eli Lilly & Company | &nbsp;&nbsp;89385 | 32700608 |
| Esperion Therapeutics, Inc. (A) | &nbsp;&nbsp;11032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68729 |
| Evolus, Inc. (A) | &nbsp;&nbsp;&nbsp;5845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43896 |
| EyePoint Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;4753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16636 |
| Fulcrum Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;6863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49963 |
| GSK PLC | 620350 | 10721654 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4180 | &nbsp;&nbsp;&nbsp;&nbsp;230318 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;25180 | &nbsp;&nbsp;&nbsp;&nbsp;469252 |
| Innoviva, Inc. (A) | &nbsp;&nbsp;10188 | &nbsp;&nbsp;&nbsp;&nbsp;134991 |
| Intra-Cellular Therapies, Inc. (A) | &nbsp;&nbsp;14675 | &nbsp;&nbsp;&nbsp;&nbsp;776601 |
| Ipsen SA | &nbsp;&nbsp;&nbsp;5753 | &nbsp;&nbsp;&nbsp;&nbsp;618795 |
| Jazz Pharmaceuticals PLC (A) | &nbsp;&nbsp;14788 | &nbsp;&nbsp;&nbsp;2355876 |
| Johnson & Johnson | 298002 | 52642053 |
| Kyowa Kirin Company, Ltd. | &nbsp;&nbsp;41159 | &nbsp;&nbsp;&nbsp;&nbsp;942705 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp;163059 |
| Liquidia Corp. (A) | &nbsp;&nbsp;&nbsp;8087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51514 |
| Merck & Company, Inc. | 287076 | 31851082 |
| Merck KGaA | &nbsp;&nbsp;19712 | &nbsp;&nbsp;&nbsp;3803238 |
| Nektar Therapeutics (A) | &nbsp;&nbsp;30100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68026 |
| NGM Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;7041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35346 |
| Nippon Shinyaku Company, Ltd. | &nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;425622 |
| Novartis AG | 329953 | 29859895 |
| Novo Nordisk A/S, B Shares | 252486 | 34291528 |
| Nuvation Bio, Inc. (A) | &nbsp;&nbsp;20531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39420 |
| Ocular Therapeutix, Inc. (A) | &nbsp;&nbsp;12998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36524 |
| Ono Pharmaceutical Company, Ltd. | &nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;1290221 |
| Organon & Company | &nbsp;&nbsp;29567 | &nbsp;&nbsp;&nbsp;&nbsp;825806 |
| Orion OYJ, Class B | &nbsp;&nbsp;16268 | &nbsp;&nbsp;&nbsp;&nbsp;891861 |
| Otsuka Holdings Company, Ltd. | &nbsp;&nbsp;59593 | &nbsp;&nbsp;&nbsp;1943491 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;&nbsp;7191 | &nbsp;&nbsp;&nbsp;&nbsp;277645 |
| Perrigo Company PLC | &nbsp;&nbsp;31620 | &nbsp;&nbsp;&nbsp;1077926 |
| Pfizer, Inc. | 636074 | 32592432 |
| Phathom Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;3757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42154 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;3632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48705 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;7934 | &nbsp;&nbsp;&nbsp;&nbsp;496668 |
| Provention Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;9875 | &nbsp;&nbsp;&nbsp;&nbsp;104379 |
| Reata Pharmaceuticals, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4489 | &nbsp;&nbsp;&nbsp;&nbsp;170537 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 152 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;&nbsp;15948 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662923 |
| Relmada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16382 |
| Revance Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231064 |
| Roche Holding AG | &nbsp;&nbsp;107155 | &nbsp;&nbsp;&nbsp;33672102 |
| Roche Holding AG, Bearer Shares | &nbsp;&nbsp;&nbsp;&nbsp;4068 | &nbsp;&nbsp;&nbsp;&nbsp;1576334 |
| Sanofi | &nbsp;&nbsp;173984 | &nbsp;&nbsp;&nbsp;16776673 |
| Shionogi & Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40411 | &nbsp;&nbsp;&nbsp;&nbsp;2016231 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55097 |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279332 |
| Takeda Pharmaceutical Company, Ltd. | &nbsp;&nbsp;229298 | &nbsp;&nbsp;&nbsp;&nbsp;7164799 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45681 |
| Teva Pharmaceutical Industries, Ltd., ADR (A) | &nbsp;&nbsp;169408 | &nbsp;&nbsp;&nbsp;&nbsp;1545001 |
| Theravance Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116800 |
| UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;19283 | &nbsp;&nbsp;&nbsp;&nbsp;1519374 |
| Ventyx Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125979 |
| Viatris, Inc. | &nbsp;&nbsp;141032 | &nbsp;&nbsp;&nbsp;&nbsp;1569686 |
| Xeris Biopharma Holdings, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;23089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30708 |
| Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53144 | &nbsp;&nbsp;&nbsp;&nbsp;7788253 |
| Zogenix, Inc. (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;9475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18950 |
|  |  | 395820845 |
|  |  | 981851694 |
| **Industrials – 11.5%** |  |  |
| **Aerospace and defense – 1.6%** | **Aerospace and defense – 1.6%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243672 |
| Aerojet Rocketdyne Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709360 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339642 |
| AerSale Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41410 |
| Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;90155 | &nbsp;&nbsp;&nbsp;10719645 |
| Archer Aviation, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;23990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44861 |
| Astronics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;4643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47823 |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15877 | &nbsp;&nbsp;&nbsp;&nbsp;2634471 |
| BAE Systems PLC | &nbsp;&nbsp;477441 | &nbsp;&nbsp;&nbsp;&nbsp;4931202 |
| Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62575 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8997 | &nbsp;&nbsp;&nbsp;&nbsp;1502409 |
| Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;3820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647845 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92526 |
| Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;4057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659797 |
| General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25490 | &nbsp;&nbsp;&nbsp;&nbsp;6324324 |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19767 | &nbsp;&nbsp;&nbsp;&nbsp;1163288 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40947 | &nbsp;&nbsp;&nbsp;&nbsp;1613721 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4349 | &nbsp;&nbsp;&nbsp;&nbsp;1003227 |
| Kaman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102602 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp;&nbsp;&nbsp;13522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575547 |
| Kratos Defense & Security Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207886 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21824 | &nbsp;&nbsp;&nbsp;&nbsp;4543975 |
| Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26789 | &nbsp;&nbsp;&nbsp;13032581 |
| Maxar Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615396 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609225 |
| Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;4585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402380 |
| MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;&nbsp;8150 | &nbsp;&nbsp;&nbsp;&nbsp;1753352 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60587 |
| Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16531 | &nbsp;&nbsp;&nbsp;&nbsp;9019479 |
| Park Aerospace Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45742 |
| Parsons Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245911 |
| Raytheon Technologies Corp. | &nbsp;&nbsp;167200 | &nbsp;&nbsp;&nbsp;16873824 |
| Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;6644 | &nbsp;&nbsp;&nbsp;&nbsp;1322661 |
| Rocket Lab USA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;34940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131724 |
| Rolls-Royce Holdings PLC (A) | 1276205 | &nbsp;&nbsp;&nbsp;&nbsp;1425488 |
| Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;52130 | &nbsp;&nbsp;&nbsp;&nbsp;6529482 |
| Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;238152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595931 |
| Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23940 | &nbsp;&nbsp;&nbsp;&nbsp;1694952 |
| Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;2079436 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Aerospace and defense (continued)** | **Aerospace and defense (continued)** |  |
| The Boeing Company (A) | &nbsp;&nbsp;63306 | $&nbsp;&nbsp;&nbsp;12059160 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;5855 | &nbsp;&nbsp;&nbsp;&nbsp;3686601 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;10553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111018 |
| V2X, Inc. (A) | &nbsp;&nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78286 |
| Virgin Galactic Holdings, Inc. (A)(C) | &nbsp;&nbsp;37252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129637 |
| Woodward, Inc. | &nbsp;&nbsp;14129 | &nbsp;&nbsp;&nbsp;&nbsp;1365003 |
|  |  | 112079664 |
| **Air freight and logistics – 0.5%** | **Air freight and logistics – 0.5%** |  |
| Air Transport Services Group, Inc. (A) | &nbsp;&nbsp;&nbsp;9254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240419 |
| Atlas Air Worldwide Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445536 |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;14108 | &nbsp;&nbsp;&nbsp;&nbsp;1291728 |
| Deutsche Post AG | 151185 | &nbsp;&nbsp;&nbsp;&nbsp;5658344 |
| DSV A/S | &nbsp;&nbsp;28552 | &nbsp;&nbsp;&nbsp;&nbsp;4515132 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;18649 | &nbsp;&nbsp;&nbsp;&nbsp;1938004 |
| FedEx Corp. | &nbsp;&nbsp;26946 | &nbsp;&nbsp;&nbsp;&nbsp;4667047 |
| Forward Air Corp. | &nbsp;&nbsp;&nbsp;4280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448929 |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;27862 | &nbsp;&nbsp;&nbsp;&nbsp;1189429 |
| Hub Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407545 |
| Nippon Express Holdings, Inc. | &nbsp;&nbsp;11746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670808 |
| Radiant Logistics, Inc. (A) | &nbsp;&nbsp;&nbsp;6551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33345 |
| SG Holdings Company, Ltd. | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610090 |
| United Parcel Service, Inc., Class B | &nbsp;&nbsp;83018 | &nbsp;&nbsp;&nbsp;14431849 |
| Yamato Holdings Company, Ltd. | &nbsp;&nbsp;43493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689201 |
|  |  | &nbsp;&nbsp;&nbsp;37237406 |
| **Airlines – 0.2%** | **Airlines – 0.2%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;14682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630445 |
| Allegiant Travel Company (A) | &nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169499 |
| American Airlines Group, Inc. (A) | &nbsp;&nbsp;75534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960792 |
| ANA Holdings, Inc. (A) | &nbsp;&nbsp;24349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515662 |
| Blade Air Mobility, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;9551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34193 |
| Delta Air Lines, Inc. (A) | &nbsp;&nbsp;73548 | &nbsp;&nbsp;&nbsp;&nbsp;2416787 |
| Deutsche Lufthansa AG (A) | &nbsp;&nbsp;91167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751495 |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60388 |
| Hawaiian Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;8157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83691 |
| Japan Airlines Company, Ltd. (A) | &nbsp;&nbsp;22040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448903 |
| JetBlue Airways Corp. (A) | &nbsp;&nbsp;76064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492895 |
| Joby Aviation, Inc. (A)(C) | &nbsp;&nbsp;40929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137112 |
| Qantas Airways, Ltd. (A) | 140948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570516 |
| Singapore Airlines, Ltd. | 204327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843639 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;&nbsp;7986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131849 |
| Southwest Airlines Company (A) | &nbsp;&nbsp;66004 | &nbsp;&nbsp;&nbsp;&nbsp;2222355 |
| Spirit Airlines, Inc. | &nbsp;&nbsp;17348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337939 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85818 |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;37760 | &nbsp;&nbsp;&nbsp;&nbsp;1423552 |
| Wheels Up Experience, Inc. (A) | &nbsp;&nbsp;27641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28470 |
|  |  | &nbsp;&nbsp;&nbsp;12346000 |
| **Building products – 0.8%** | **Building products – 0.8%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;13887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794892 |
| AAON, Inc. | &nbsp;&nbsp;&nbsp;7013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528219 |
| AGC, Inc. (C) | &nbsp;&nbsp;29476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978183 |
| Allegion PLC | &nbsp;&nbsp;10175 | &nbsp;&nbsp;&nbsp;&nbsp;1071021 |
| American Woodmark Corp. (A) | &nbsp;&nbsp;&nbsp;2684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131140 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;3540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157388 |
| Assa Abloy AB, B Shares | 152870 | &nbsp;&nbsp;&nbsp;&nbsp;3288119 |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;34564 | &nbsp;&nbsp;&nbsp;&nbsp;2242512 |
| Caesarstone, Ltd. | &nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23183 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;12145 | &nbsp;&nbsp;&nbsp;&nbsp;2861969 |
| Carrier Global Corp. | &nbsp;&nbsp;96008 | &nbsp;&nbsp;&nbsp;&nbsp;3960330 |
| Cie de Saint-Gobain | &nbsp;&nbsp;75354 | &nbsp;&nbsp;&nbsp;&nbsp;3686378 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;2326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269653 |
| Daikin Industries, Ltd. | &nbsp;&nbsp;37997 | &nbsp;&nbsp;&nbsp;&nbsp;5764657 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;30118 | &nbsp;&nbsp;&nbsp;&nbsp;1720039 |
| Geberit AG | &nbsp;&nbsp;&nbsp;5472 | &nbsp;&nbsp;&nbsp;&nbsp;2583223 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 153 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Building products (continued)** | **Building products (continued)** |  |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;5044 | $&nbsp;&nbsp;&nbsp;&nbsp;231419 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;7352 | &nbsp;&nbsp;&nbsp;&nbsp;263128 |
| Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;3068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84431 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;13230 | &nbsp;&nbsp;&nbsp;&nbsp;125950 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;13632 | &nbsp;&nbsp;&nbsp;&nbsp;131549 |
| Johnson Controls International PLC | &nbsp;&nbsp;78553 | &nbsp;&nbsp;&nbsp;5027392 |
| Kingspan Group PLC | &nbsp;&nbsp;23553 | &nbsp;&nbsp;&nbsp;1275251 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;7574 | &nbsp;&nbsp;&nbsp;1811928 |
| Lixil Corp. | &nbsp;&nbsp;43750 | &nbsp;&nbsp;&nbsp;&nbsp;659579 |
| Masco Corp. | &nbsp;&nbsp;25854 | &nbsp;&nbsp;&nbsp;1206606 |
| Masonite International Corp. (A) | &nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;&nbsp;287294 |
| Nibe Industrier AB, B Shares | 231143 | &nbsp;&nbsp;&nbsp;2157437 |
| Owens Corning | &nbsp;&nbsp;21948 | &nbsp;&nbsp;&nbsp;1872164 |
| PGT Innovations, Inc. (A) | &nbsp;&nbsp;&nbsp;9243 | &nbsp;&nbsp;&nbsp;&nbsp;166004 |
| Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;5332 | &nbsp;&nbsp;&nbsp;&nbsp;126262 |
| Resideo Technologies, Inc. (A) | &nbsp;&nbsp;23185 | &nbsp;&nbsp;&nbsp;&nbsp;381393 |
| ROCKWOOL A/S, B Shares | &nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp;317678 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;16867 | &nbsp;&nbsp;&nbsp;1495428 |
| TOTO, Ltd. | &nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;732660 |
| Trane Technologies PLC | &nbsp;&nbsp;26387 | &nbsp;&nbsp;&nbsp;4435391 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;25772 | &nbsp;&nbsp;&nbsp;1090929 |
| UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;9545 | &nbsp;&nbsp;&nbsp;&nbsp;756441 |
| View, Inc. (A)(C) | &nbsp;&nbsp;21060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20321 |
| Xinyi Glass Holdings, Ltd. | 277000 | &nbsp;&nbsp;&nbsp;&nbsp;511778 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;19868 | &nbsp;&nbsp;&nbsp;&nbsp;420208 |
|  |  | 55649527 |
| **Commercial services and supplies – 0.6%** | **Commercial services and supplies – 0.6%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;10611 | &nbsp;&nbsp;&nbsp;&nbsp;471341 |
| ACCO Brands Corp. | &nbsp;&nbsp;15227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85119 |
| ACV Auctions, Inc., Class A (A) | &nbsp;&nbsp;18691 | &nbsp;&nbsp;&nbsp;&nbsp;153453 |
| Aris Water Solution, Inc., Class A | &nbsp;&nbsp;&nbsp;3585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51660 |
| Brady Corp., Class A | &nbsp;&nbsp;&nbsp;7153 | &nbsp;&nbsp;&nbsp;&nbsp;336906 |
| Brambles, Ltd. | 211524 | &nbsp;&nbsp;&nbsp;1734624 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52998 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7966 | &nbsp;&nbsp;&nbsp;&nbsp;631783 |
| Cimpress PLC (A) | &nbsp;&nbsp;&nbsp;3018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83327 |
| Cintas Corp. | &nbsp;&nbsp;&nbsp;9647 | &nbsp;&nbsp;&nbsp;4356778 |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;11810 | &nbsp;&nbsp;&nbsp;1347757 |
| Copart, Inc. (A) | &nbsp;&nbsp;49110 | &nbsp;&nbsp;&nbsp;2990308 |
| CoreCivic, Inc. (A) | &nbsp;&nbsp;18658 | &nbsp;&nbsp;&nbsp;&nbsp;215686 |
| Dai Nippon Printing Company, Ltd. | &nbsp;&nbsp;33873 | &nbsp;&nbsp;&nbsp;&nbsp;680494 |
| Deluxe Corp. | &nbsp;&nbsp;&nbsp;7031 | &nbsp;&nbsp;&nbsp;&nbsp;119386 |
| Ennis, Inc. | &nbsp;&nbsp;&nbsp;4178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92584 |
| Harsco Corp. (A) | &nbsp;&nbsp;13166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82814 |
| Healthcare Services Group, Inc. | &nbsp;&nbsp;11922 | &nbsp;&nbsp;&nbsp;&nbsp;143064 |
| Heritage-Crystal Clean, Inc. (A) | &nbsp;&nbsp;&nbsp;2558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83084 |
| HNI Corp. | &nbsp;&nbsp;&nbsp;6525 | &nbsp;&nbsp;&nbsp;&nbsp;185506 |
| IAA, Inc. (A) | &nbsp;&nbsp;31415 | &nbsp;&nbsp;&nbsp;1256600 |
| Interface, Inc. | &nbsp;&nbsp;&nbsp;9593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94683 |
| KAR Auction Services, Inc. (A) | &nbsp;&nbsp;17661 | &nbsp;&nbsp;&nbsp;&nbsp;230476 |
| Kimball International, Inc., Class B | &nbsp;&nbsp;&nbsp;6911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44922 |
| Li-Cycle Holdings Corp. (A)(C) | &nbsp;&nbsp;22316 | &nbsp;&nbsp;&nbsp;&nbsp;106224 |
| Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;4919 | &nbsp;&nbsp;&nbsp;&nbsp;149734 |
| MillerKnoll, Inc. | &nbsp;&nbsp;12333 | &nbsp;&nbsp;&nbsp;&nbsp;259116 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;4446 | &nbsp;&nbsp;&nbsp;&nbsp;197358 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;8653 | &nbsp;&nbsp;&nbsp;1247676 |
| Pitney Bowes, Inc. | &nbsp;&nbsp;28428 | &nbsp;&nbsp;&nbsp;&nbsp;108026 |
| Rentokil Initial PLC | 382663 | &nbsp;&nbsp;&nbsp;2350991 |
| Republic Services, Inc. | &nbsp;&nbsp;23476 | &nbsp;&nbsp;&nbsp;3028169 |
| Rollins, Inc. | &nbsp;&nbsp;26395 | &nbsp;&nbsp;&nbsp;&nbsp;964473 |
| Secom Company, Ltd. | &nbsp;&nbsp;32055 | &nbsp;&nbsp;&nbsp;1828988 |
| Securitas AB, B Shares | &nbsp;&nbsp;75048 | &nbsp;&nbsp;&nbsp;&nbsp;626235 |
| SP Plus Corp. (A) | &nbsp;&nbsp;&nbsp;3287 | &nbsp;&nbsp;&nbsp;&nbsp;114125 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;14407 | &nbsp;&nbsp;&nbsp;&nbsp;101857 |
| Stericycle, Inc. (A) | &nbsp;&nbsp;21649 | &nbsp;&nbsp;&nbsp;1080069 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| Tetra Tech, Inc. | &nbsp;&nbsp;12443 | $&nbsp;&nbsp;&nbsp;1806599 |
| The Brink's Company | &nbsp;&nbsp;18175 | &nbsp;&nbsp;&nbsp;&nbsp;976179 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;18685 | &nbsp;&nbsp;&nbsp;&nbsp;204601 |
| Toppan, Inc. | &nbsp;&nbsp;39962 | &nbsp;&nbsp;&nbsp;&nbsp;590138 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;2368 | &nbsp;&nbsp;&nbsp;&nbsp;457000 |
| Viad Corp. (A) | &nbsp;&nbsp;&nbsp;3307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80658 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;1747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81899 |
| Waste Management, Inc. | &nbsp;&nbsp;42600 | &nbsp;&nbsp;&nbsp;6683088 |
|  |  | 38568556 |
| **Construction and engineering – 0.5%** | **Construction and engineering – 0.5%** |  |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;33021 | &nbsp;&nbsp;&nbsp;&nbsp;944848 |
| AECOM | &nbsp;&nbsp;32797 | &nbsp;&nbsp;&nbsp;2785449 |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp;291414 |
| API Group Corp. (A) | &nbsp;&nbsp;33208 | &nbsp;&nbsp;&nbsp;&nbsp;624642 |
| Arcosa, Inc. | &nbsp;&nbsp;&nbsp;7694 | &nbsp;&nbsp;&nbsp;&nbsp;418092 |
| Argan, Inc. | &nbsp;&nbsp;&nbsp;2060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75973 |
| Bouygues SA | &nbsp;&nbsp;35005 | &nbsp;&nbsp;&nbsp;1049861 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;5641 | &nbsp;&nbsp;&nbsp;&nbsp;649166 |
| Concrete Pumping Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27811 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6404 | &nbsp;&nbsp;&nbsp;&nbsp;170923 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;11524 | &nbsp;&nbsp;&nbsp;1078646 |
| Eiffage SA | &nbsp;&nbsp;12705 | &nbsp;&nbsp;&nbsp;1249715 |
| EMCOR Group, Inc. | &nbsp;&nbsp;18691 | &nbsp;&nbsp;&nbsp;2768324 |
| Ferrovial SA | &nbsp;&nbsp;74426 | &nbsp;&nbsp;&nbsp;1948675 |
| Fluor Corp. (A) | &nbsp;&nbsp;56132 | &nbsp;&nbsp;&nbsp;1945535 |
| Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;7097 | &nbsp;&nbsp;&nbsp;&nbsp;248892 |
| Great Lakes Dredge & Dock Corp. (A) | &nbsp;&nbsp;10880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64736 |
| IES Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50758 |
| Kajima Corp. | &nbsp;&nbsp;64485 | &nbsp;&nbsp;&nbsp;&nbsp;750432 |
| MasTec, Inc. (A) | &nbsp;&nbsp;13847 | &nbsp;&nbsp;&nbsp;1181565 |
| MDU Resources Group, Inc. | &nbsp;&nbsp;47757 | &nbsp;&nbsp;&nbsp;1448947 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2609 | &nbsp;&nbsp;&nbsp;&nbsp;240211 |
| Northwest Pipe Company (A) | &nbsp;&nbsp;&nbsp;1584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53381 |
| NV5 Global, Inc. (A) | &nbsp;&nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp;285414 |
| Obayashi Corp. | &nbsp;&nbsp;99015 | &nbsp;&nbsp;&nbsp;&nbsp;747919 |
| Primoris Services Corp. | &nbsp;&nbsp;&nbsp;8520 | &nbsp;&nbsp;&nbsp;&nbsp;186929 |
| Quanta Services, Inc. | &nbsp;&nbsp;16089 | &nbsp;&nbsp;&nbsp;2292683 |
| Shimizu Corp. | &nbsp;&nbsp;84229 | &nbsp;&nbsp;&nbsp;&nbsp;449440 |
| Skanska AB, B Shares | &nbsp;&nbsp;51888 | &nbsp;&nbsp;&nbsp;&nbsp;822554 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;4705 | &nbsp;&nbsp;&nbsp;&nbsp;154324 |
| Taisei Corp. | &nbsp;&nbsp;27573 | &nbsp;&nbsp;&nbsp;&nbsp;889097 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;&nbsp;7357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55545 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;5010 | &nbsp;&nbsp;&nbsp;1656657 |
| Vinci SA | &nbsp;&nbsp;82026 | &nbsp;&nbsp;&nbsp;8176916 |
|  |  | 35785474 |
| **Electrical equipment – 1.1%** | **Electrical equipment – 1.1%** |  |
| ABB, Ltd. | 239729 | &nbsp;&nbsp;&nbsp;7306341 |
| Acuity Brands, Inc. | &nbsp;&nbsp;&nbsp;7552 | &nbsp;&nbsp;&nbsp;1250687 |
| Allied Motion Technologies, Inc. | &nbsp;&nbsp;&nbsp;2230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77626 |
| AMETEK, Inc. | &nbsp;&nbsp;26012 | &nbsp;&nbsp;&nbsp;3634397 |
| Array Technologies, Inc. (A) | &nbsp;&nbsp;24195 | &nbsp;&nbsp;&nbsp;&nbsp;467689 |
| Atkore, Inc. (A) | &nbsp;&nbsp;&nbsp;6581 | &nbsp;&nbsp;&nbsp;&nbsp;746417 |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp;159393 |
| Babcock & Wilcox Enterprises, Inc. (A) | &nbsp;&nbsp;10377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59875 |
| Blink Charging Company (A) | &nbsp;&nbsp;&nbsp;5819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63834 |
| Bloom Energy Corp., Class A (A) | &nbsp;&nbsp;28241 | &nbsp;&nbsp;&nbsp;&nbsp;539968 |
| Eaton Corp. PLC | &nbsp;&nbsp;45184 | &nbsp;&nbsp;&nbsp;7091629 |
| Emerson Electric Company | &nbsp;&nbsp;67205 | &nbsp;&nbsp;&nbsp;6455712 |
| Encore Wire Corp. | &nbsp;&nbsp;&nbsp;2812 | &nbsp;&nbsp;&nbsp;&nbsp;386819 |
| Energy Vault Holdings, Inc. (A)(C) | &nbsp;&nbsp;11075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34554 |
| EnerSys | &nbsp;&nbsp;16092 | &nbsp;&nbsp;&nbsp;1188233 |
| Enovix Corp. (A) | &nbsp;&nbsp;17447 | &nbsp;&nbsp;&nbsp;&nbsp;217041 |
| ESS Tech, Inc. (A) | &nbsp;&nbsp;13893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33760 |
| Fluence Energy, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;5779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99110 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 154 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electrical equipment (continued)** | **Electrical equipment (continued)** |  |
| FuelCell Energy, Inc. (A)(C) | &nbsp;&nbsp;63320 | $&nbsp;&nbsp;&nbsp;&nbsp;176030 |
| Fuji Electric Company, Ltd. | &nbsp;&nbsp;19340 | &nbsp;&nbsp;&nbsp;&nbsp;729877 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7357 | &nbsp;&nbsp;&nbsp;&nbsp;740556 |
| GrafTech International, Ltd. | &nbsp;&nbsp;31390 | &nbsp;&nbsp;&nbsp;&nbsp;149416 |
| Hubbell, Inc. | &nbsp;&nbsp;12613 | &nbsp;&nbsp;&nbsp;2960019 |
| Legrand SA | &nbsp;&nbsp;40695 | &nbsp;&nbsp;&nbsp;3262994 |
| Mitsubishi Electric Corp. | 294697 | &nbsp;&nbsp;&nbsp;2920134 |
| Nidec Corp. | &nbsp;&nbsp;68186 | &nbsp;&nbsp;&nbsp;3508794 |
| NuScale Power Corp. (A)(C) | &nbsp;&nbsp;&nbsp;5239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53752 |
| nVent Electric PLC | &nbsp;&nbsp;39123 | &nbsp;&nbsp;&nbsp;1505062 |
| Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53122 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35898 |
| Prysmian SpA | &nbsp;&nbsp;38852 | &nbsp;&nbsp;&nbsp;1443566 |
| Regal Rexnord Corp. | &nbsp;&nbsp;15536 | &nbsp;&nbsp;&nbsp;1864009 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;13023 | &nbsp;&nbsp;&nbsp;3354334 |
| Schneider Electric SE | &nbsp;&nbsp;82748 | 11620681 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;21536 | &nbsp;&nbsp;&nbsp;&nbsp;531293 |
| Siemens Energy AG | &nbsp;&nbsp;66496 | &nbsp;&nbsp;&nbsp;1248538 |
| Siemens Gamesa Renewable Energy SA (A) | &nbsp;&nbsp;36360 | &nbsp;&nbsp;&nbsp;&nbsp;701544 |
| Stem, Inc. (A) | &nbsp;&nbsp;23176 | &nbsp;&nbsp;&nbsp;&nbsp;207193 |
| SunPower Corp. (A) | &nbsp;&nbsp;33214 | &nbsp;&nbsp;&nbsp;&nbsp;598848 |
| Sunrun, Inc. (A) | &nbsp;&nbsp;50047 | &nbsp;&nbsp;&nbsp;1202129 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;5455 | &nbsp;&nbsp;&nbsp;&nbsp;109536 |
| TPI Composites, Inc. (A) | &nbsp;&nbsp;&nbsp;6182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62685 |
| Vestas Wind Systems A/S | 154024 | &nbsp;&nbsp;&nbsp;4492979 |
| Vicor Corp. (A) | &nbsp;&nbsp;&nbsp;8811 | &nbsp;&nbsp;&nbsp;&nbsp;473591 |
|  |  | 73819665 |
| **Industrial conglomerates – 1.0%** | **Industrial conglomerates – 1.0%** |  |
| 3M Company | &nbsp;&nbsp;62771 | &nbsp;&nbsp;&nbsp;7527498 |
| Brookfield Business Corp., Class A | &nbsp;&nbsp;&nbsp;4171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78373 |
| CK Hutchison Holdings, Ltd. | 409238 | &nbsp;&nbsp;&nbsp;2451683 |
| DCC PLC | &nbsp;&nbsp;15053 | &nbsp;&nbsp;&nbsp;&nbsp;740185 |
| General Electric Company | 124252 | 10411075 |
| Hitachi, Ltd. | 147694 | &nbsp;&nbsp;&nbsp;7431413 |
| Honeywell International, Inc. | &nbsp;&nbsp;76338 | 16359233 |
| Investment AB Latour, B Shares | &nbsp;&nbsp;22581 | &nbsp;&nbsp;&nbsp;&nbsp;427050 |
| Jardine Cycle & Carriage, Ltd. | &nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp;322411 |
| Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;1236161 |
| Keppel Corp., Ltd. | 222145 | &nbsp;&nbsp;&nbsp;1204732 |
| Lifco AB, B Shares | &nbsp;&nbsp;35554 | &nbsp;&nbsp;&nbsp;&nbsp;595113 |
| Melrose Industries PLC | 618377 | &nbsp;&nbsp;&nbsp;&nbsp;996269 |
| Siemens AG | 116677 | 16084065 |
| Smiths Group PLC | &nbsp;&nbsp;55266 | &nbsp;&nbsp;&nbsp;1060669 |
| Toshiba Corp. | &nbsp;&nbsp;59428 | &nbsp;&nbsp;&nbsp;2065080 |
|  |  | 68991010 |
| **Machinery – 2.4%** | **Machinery – 2.4%** |  |
| 3D Systems Corp. (A) | &nbsp;&nbsp;20319 | &nbsp;&nbsp;&nbsp;&nbsp;150361 |
| AGCO Corp. | &nbsp;&nbsp;14541 | &nbsp;&nbsp;&nbsp;2016691 |
| Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;222170 |
| Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;4964 | &nbsp;&nbsp;&nbsp;&nbsp;489401 |
| Alfa Laval AB | &nbsp;&nbsp;44187 | &nbsp;&nbsp;&nbsp;1278212 |
| Alstom SA | &nbsp;&nbsp;48773 | &nbsp;&nbsp;&nbsp;1193309 |
| Altra Industrial Motion Corp. | &nbsp;&nbsp;10448 | &nbsp;&nbsp;&nbsp;&nbsp;624268 |
| Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;3697 | &nbsp;&nbsp;&nbsp;&nbsp;150320 |
| Atlas Copco AB, A Shares | 409677 | &nbsp;&nbsp;&nbsp;4854015 |
| Atlas Copco AB, B Shares | 238064 | &nbsp;&nbsp;&nbsp;2540060 |
| Barnes Group, Inc. | &nbsp;&nbsp;&nbsp;7887 | &nbsp;&nbsp;&nbsp;&nbsp;322184 |
| Blue Bird Corp. (A) | &nbsp;&nbsp;&nbsp;3152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33758 |
| Caterpillar, Inc. | &nbsp;&nbsp;59857 | 14339343 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;15075 | &nbsp;&nbsp;&nbsp;1737092 |
| CIRCOR International, Inc. (A) | &nbsp;&nbsp;&nbsp;3133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75067 |
| CNH Industrial NV | 156073 | &nbsp;&nbsp;&nbsp;2503722 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;147901 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Crane Holdings Company | &nbsp;&nbsp;11208 | $&nbsp;&nbsp;&nbsp;1125844 |
| Cummins, Inc. | &nbsp;&nbsp;16017 | &nbsp;&nbsp;&nbsp;3880759 |
| Daifuku Company, Ltd. | &nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;717858 |
| Daimler Truck Holding AG (A) | &nbsp;&nbsp;69034 | &nbsp;&nbsp;&nbsp;2122222 |
| Deere & Company | &nbsp;&nbsp;31573 | 13537239 |
| Desktop Metal, Inc., Class A (A)(C) | &nbsp;&nbsp;43199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58751 |
| Donaldson Company, Inc. | &nbsp;&nbsp;28760 | &nbsp;&nbsp;&nbsp;1693101 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;3573 | &nbsp;&nbsp;&nbsp;&nbsp;129200 |
| Dover Corp. | &nbsp;&nbsp;16509 | &nbsp;&nbsp;&nbsp;2235484 |
| Energy Recovery, Inc. (A) | &nbsp;&nbsp;&nbsp;8795 | &nbsp;&nbsp;&nbsp;&nbsp;180210 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;9211 | &nbsp;&nbsp;&nbsp;&nbsp;234420 |
| EnPro Industries, Inc. | &nbsp;&nbsp;&nbsp;3321 | &nbsp;&nbsp;&nbsp;&nbsp;360959 |
| Epiroc AB, A Shares | 100512 | &nbsp;&nbsp;&nbsp;1830234 |
| Epiroc AB, B Shares | &nbsp;&nbsp;59478 | &nbsp;&nbsp;&nbsp;&nbsp;956834 |
| Esab Corp. | &nbsp;&nbsp;12134 | &nbsp;&nbsp;&nbsp;&nbsp;569327 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp;360052 |
| Evoqua Water Technologies Corp. (A) | &nbsp;&nbsp;18863 | &nbsp;&nbsp;&nbsp;&nbsp;746975 |
| FANUC Corp. | &nbsp;&nbsp;29218 | &nbsp;&nbsp;&nbsp;4372371 |
| Federal Signal Corp. | &nbsp;&nbsp;&nbsp;9491 | &nbsp;&nbsp;&nbsp;&nbsp;441047 |
| Flowserve Corp. | &nbsp;&nbsp;30694 | &nbsp;&nbsp;&nbsp;&nbsp;941692 |
| Fortive Corp. | &nbsp;&nbsp;39903 | &nbsp;&nbsp;&nbsp;2563768 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;&nbsp;7337 | &nbsp;&nbsp;&nbsp;&nbsp;585126 |
| GEA Group AG | &nbsp;&nbsp;23102 | &nbsp;&nbsp;&nbsp;&nbsp;939501 |
| Graco, Inc. | &nbsp;&nbsp;39579 | &nbsp;&nbsp;&nbsp;2662084 |
| Helios Technologies, Inc. | &nbsp;&nbsp;&nbsp;5252 | &nbsp;&nbsp;&nbsp;&nbsp;285919 |
| Hillenbrand, Inc. | &nbsp;&nbsp;11068 | &nbsp;&nbsp;&nbsp;&nbsp;472272 |
| Hillman Solutions Corp. (A) | &nbsp;&nbsp;21584 | &nbsp;&nbsp;&nbsp;&nbsp;155621 |
| Hitachi Construction Machinery Company, Ltd. | &nbsp;&nbsp;16452 | &nbsp;&nbsp;&nbsp;&nbsp;366656 |
| Hoshizaki Corp. | &nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp;583690 |
| Husqvarna AB, B Shares | &nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;449499 |
| Hyliion Holdings Corp. (A) | &nbsp;&nbsp;23068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53979 |
| Hyster-Yale Materials Handling, Inc. | &nbsp;&nbsp;&nbsp;1841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46596 |
| Hyzon Motors, Inc. (A)(C) | &nbsp;&nbsp;15528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24068 |
| IDEX Corp. | &nbsp;&nbsp;&nbsp;8505 | &nbsp;&nbsp;&nbsp;1941947 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;32113 | &nbsp;&nbsp;&nbsp;7074494 |
| Indutrade AB | &nbsp;&nbsp;41674 | &nbsp;&nbsp;&nbsp;&nbsp;845127 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;45100 | &nbsp;&nbsp;&nbsp;2356475 |
| ITT, Inc. | &nbsp;&nbsp;19422 | &nbsp;&nbsp;&nbsp;1575124 |
| John Bean Technologies Corp. | &nbsp;&nbsp;&nbsp;5073 | &nbsp;&nbsp;&nbsp;&nbsp;463317 |
| Kadant, Inc. | &nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;328260 |
| Kennametal, Inc. | &nbsp;&nbsp;32013 | &nbsp;&nbsp;&nbsp;&nbsp;770233 |
| Knorr-Bremse AG | &nbsp;&nbsp;11064 | &nbsp;&nbsp;&nbsp;&nbsp;601907 |
| Komatsu, Ltd. | 140976 | &nbsp;&nbsp;&nbsp;3047071 |
| Kone OYJ, B Shares | &nbsp;&nbsp;51840 | &nbsp;&nbsp;&nbsp;2683847 |
| Kubota Corp. | 155552 | &nbsp;&nbsp;&nbsp;2125063 |
| Kurita Water Industries, Ltd. | &nbsp;&nbsp;15927 | &nbsp;&nbsp;&nbsp;&nbsp;657860 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;13560 | &nbsp;&nbsp;&nbsp;1959284 |
| Lindsay Corp. | &nbsp;&nbsp;&nbsp;1741 | &nbsp;&nbsp;&nbsp;&nbsp;283522 |
| Luxfer Holdings PLC | &nbsp;&nbsp;&nbsp;4584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62892 |
| Makita Corp. | &nbsp;&nbsp;34152 | &nbsp;&nbsp;&nbsp;&nbsp;795578 |
| Markforged Holding Corp. (A) | &nbsp;&nbsp;19815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22985 |
| Microvast Holdings, Inc. (A)(C) | &nbsp;&nbsp;28198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43143 |
| Miller Industries, Inc. | &nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52120 |
| MINEBEA MITSUMI, Inc. | &nbsp;&nbsp;55400 | &nbsp;&nbsp;&nbsp;&nbsp;820811 |
| MISUMI Group, Inc. | &nbsp;&nbsp;43400 | &nbsp;&nbsp;&nbsp;&nbsp;943269 |
| Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;48863 | &nbsp;&nbsp;&nbsp;1930897 |
| Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;8889 | &nbsp;&nbsp;&nbsp;&nbsp;524451 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;24920 | &nbsp;&nbsp;&nbsp;&nbsp;268139 |
| NGK Insulators, Ltd. | &nbsp;&nbsp;36261 | &nbsp;&nbsp;&nbsp;&nbsp;459702 |
| Nikola Corp. (A)(C) | &nbsp;&nbsp;52870 | &nbsp;&nbsp;&nbsp;&nbsp;114199 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp;1421566 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51233 |
| Oshkosh Corp. | &nbsp;&nbsp;15358 | &nbsp;&nbsp;&nbsp;1354422 |
| Otis Worldwide Corp. | &nbsp;&nbsp;47848 | &nbsp;&nbsp;&nbsp;3746977 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 155 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| PACCAR, Inc. | &nbsp;&nbsp;39239 | $&nbsp;&nbsp;&nbsp;&nbsp;3883484 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;14544 | &nbsp;&nbsp;&nbsp;&nbsp;4232304 |
| Pentair PLC | &nbsp;&nbsp;19297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867979 |
| Proterra, Inc. (A) | &nbsp;&nbsp;35910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135381 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;&nbsp;4466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114017 |
| Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463185 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954636 |
| REV Group, Inc. | &nbsp;&nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68792 |
| Sandvik AB | 162621 | &nbsp;&nbsp;&nbsp;&nbsp;2938819 |
| Sarcos Technology and Robotics Corp. (A) | &nbsp;&nbsp;19656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11033 |
| Schindler Holding AG | &nbsp;&nbsp;&nbsp;3581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645839 |
| Schindler Holding AG, Participation Certificates | &nbsp;&nbsp;&nbsp;6210 | &nbsp;&nbsp;&nbsp;&nbsp;1167991 |
| SKF AB, B Shares | &nbsp;&nbsp;58469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893028 |
| SMC Corp. | &nbsp;&nbsp;&nbsp;8747 | &nbsp;&nbsp;&nbsp;&nbsp;3652340 |
| Snap-on, Inc. | &nbsp;&nbsp;&nbsp;5885 | &nbsp;&nbsp;&nbsp;&nbsp;1344664 |
| Spirax-Sarco Engineering PLC | &nbsp;&nbsp;11227 | &nbsp;&nbsp;&nbsp;&nbsp;1434030 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;7009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460141 |
| Standex International Corp. | &nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194989 |
| Stanley Black & Decker, Inc. | &nbsp;&nbsp;17033 | &nbsp;&nbsp;&nbsp;&nbsp;1279519 |
| Techtronic Industries Company, Ltd. | 209742 | &nbsp;&nbsp;&nbsp;&nbsp;2329570 |
| Tennant Company | &nbsp;&nbsp;&nbsp;2965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182555 |
| Terex Corp. | &nbsp;&nbsp;26524 | &nbsp;&nbsp;&nbsp;&nbsp;1133105 |
| The Gorman-Rupp Company | &nbsp;&nbsp;&nbsp;3794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97202 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;&nbsp;5164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173149 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;&nbsp;6284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57561 |
| The Middleby Corp. (A) | &nbsp;&nbsp;12655 | &nbsp;&nbsp;&nbsp;&nbsp;1694505 |
| The Shyft Group, Inc. | &nbsp;&nbsp;&nbsp;5628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139912 |
| The Timken Company | &nbsp;&nbsp;15546 | &nbsp;&nbsp;&nbsp;&nbsp;1098636 |
| The Toro Company | &nbsp;&nbsp;24472 | &nbsp;&nbsp;&nbsp;&nbsp;2770230 |
| Titan International, Inc. (A) | &nbsp;&nbsp;&nbsp;8187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125425 |
| Toyota Industries Corp. | &nbsp;&nbsp;22353 | &nbsp;&nbsp;&nbsp;&nbsp;1214341 |
| Trinity Industries, Inc. | &nbsp;&nbsp;13188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389969 |
| VAT Group AG (B) | &nbsp;&nbsp;&nbsp;4118 | &nbsp;&nbsp;&nbsp;&nbsp;1130462 |
| Velo3D, Inc. (A) | &nbsp;&nbsp;&nbsp;9418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16858 |
| Volvo AB, A Shares | &nbsp;&nbsp;30539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579822 |
| Volvo AB, B Shares | 230160 | &nbsp;&nbsp;&nbsp;&nbsp;4157518 |
| Wabash National Corp. | &nbsp;&nbsp;&nbsp;7683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173636 |
| Wabtec Corp. | &nbsp;&nbsp;20555 | &nbsp;&nbsp;&nbsp;&nbsp;2051595 |
| Wartsila OYJ ABP | &nbsp;&nbsp;72199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608786 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;10760 | &nbsp;&nbsp;&nbsp;&nbsp;1573435 |
| Xylem, Inc. | &nbsp;&nbsp;20434 | &nbsp;&nbsp;&nbsp;&nbsp;2259387 |
| Yaskawa Electric Corp. | &nbsp;&nbsp;36610 | &nbsp;&nbsp;&nbsp;&nbsp;1168057 |
|  |  | 167555034 |
| **Marine – 0.1%** | **Marine – 0.1%** |  |
| A.P. Moller - Maersk A/S, Series A | &nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;1042425 |
| A.P. Moller - Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;1714770 |
| Costamare, Inc. | &nbsp;&nbsp;&nbsp;7746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71883 |
| Eagle Bulk Shipping, Inc. | &nbsp;&nbsp;&nbsp;2108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105274 |
| Eneti, Inc. | &nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42059 |
| Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;&nbsp;5823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89441 |
| Golden Ocean Group, Ltd. (C) | &nbsp;&nbsp;19381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168421 |
| Kirby Corp. (A) | &nbsp;&nbsp;14067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905211 |
| Kuehne + Nagel International AG | &nbsp;&nbsp;&nbsp;8288 | &nbsp;&nbsp;&nbsp;&nbsp;1926815 |
| Matson, Inc. | &nbsp;&nbsp;&nbsp;5894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368434 |
| Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;52500 | &nbsp;&nbsp;&nbsp;&nbsp;1311861 |
| Nippon Yusen KK | &nbsp;&nbsp;73875 | &nbsp;&nbsp;&nbsp;&nbsp;1742020 |
| Safe Bulkers, Inc. | &nbsp;&nbsp;10946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31853 |
| SITC International Holdings Company, Ltd. | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454370 |
| ZIM Integrated Shipping Services, Ltd. (C) | &nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220032 |
|  |  | &nbsp;&nbsp;&nbsp;10194869 |
| **Professional services – 0.9%** | **Professional services – 0.9%** |  |
| Adecco Group AG | &nbsp;&nbsp;24404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802766 |
| Alight, Inc., Class A (A) | &nbsp;&nbsp;54480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455453 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| ASGN, Inc. (A) | &nbsp;&nbsp;19568 | $&nbsp;&nbsp;&nbsp;1594401 |
| Atlas Technical Consultants, Inc. (A) | &nbsp;&nbsp;&nbsp;3279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16887 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;103914 |
| Bureau Veritas SA | &nbsp;&nbsp;44843 | &nbsp;&nbsp;&nbsp;1181792 |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5518 | &nbsp;&nbsp;&nbsp;1658656 |
| CBIZ, Inc. (A) | &nbsp;&nbsp;&nbsp;7684 | &nbsp;&nbsp;&nbsp;&nbsp;359995 |
| CoStar Group, Inc. (A) | &nbsp;&nbsp;44895 | &nbsp;&nbsp;&nbsp;3469486 |
| CRA International, Inc. | &nbsp;&nbsp;&nbsp;1115 | &nbsp;&nbsp;&nbsp;&nbsp;136509 |
| Equifax, Inc. | &nbsp;&nbsp;14020 | &nbsp;&nbsp;&nbsp;2724927 |
| Experian PLC | 140408 | &nbsp;&nbsp;&nbsp;4755385 |
| Exponent, Inc. | &nbsp;&nbsp;&nbsp;8097 | &nbsp;&nbsp;&nbsp;&nbsp;802332 |
| First Advantage Corp. (A) | &nbsp;&nbsp;&nbsp;9372 | &nbsp;&nbsp;&nbsp;&nbsp;121836 |
| Forrester Research, Inc. (A) | &nbsp;&nbsp;&nbsp;1844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65941 |
| Franklin Covey Company (A) | &nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91108 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;&nbsp;8084 | &nbsp;&nbsp;&nbsp;1283739 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;3208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89728 |
| HireRight Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;3471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41166 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;&nbsp;3174 | &nbsp;&nbsp;&nbsp;&nbsp;230432 |
| ICF International, Inc. | &nbsp;&nbsp;&nbsp;2930 | &nbsp;&nbsp;&nbsp;&nbsp;290217 |
| Insperity, Inc. | &nbsp;&nbsp;14162 | &nbsp;&nbsp;&nbsp;1608803 |
| Intertek Group PLC | &nbsp;&nbsp;24615 | &nbsp;&nbsp;&nbsp;1197574 |
| Jacobs Solutions, Inc. | &nbsp;&nbsp;14440 | &nbsp;&nbsp;&nbsp;1733811 |
| KBR, Inc. | &nbsp;&nbsp;32220 | &nbsp;&nbsp;&nbsp;1701216 |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;5548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93761 |
| Kforce, Inc. | &nbsp;&nbsp;&nbsp;3169 | &nbsp;&nbsp;&nbsp;&nbsp;173756 |
| Korn Ferry | &nbsp;&nbsp;&nbsp;8520 | &nbsp;&nbsp;&nbsp;&nbsp;431282 |
| Legalzoom.com, Inc. (A) | &nbsp;&nbsp;15828 | &nbsp;&nbsp;&nbsp;&nbsp;122509 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;15269 | &nbsp;&nbsp;&nbsp;1606146 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;11873 | &nbsp;&nbsp;&nbsp;&nbsp;987952 |
| Nihon M&A Center Holdings, Inc. | &nbsp;&nbsp;46200 | &nbsp;&nbsp;&nbsp;&nbsp;568479 |
| Persol Holdings Company, Ltd. | &nbsp;&nbsp;27100 | &nbsp;&nbsp;&nbsp;&nbsp;576410 |
| Planet Labs PBC (A) | &nbsp;&nbsp;25294 | &nbsp;&nbsp;&nbsp;&nbsp;110029 |
| Randstad NV | &nbsp;&nbsp;18238 | &nbsp;&nbsp;&nbsp;1114385 |
| Recruit Holdings Company, Ltd. | 219900 | &nbsp;&nbsp;&nbsp;6883304 |
| Red Violet, Inc. (A) | &nbsp;&nbsp;&nbsp;1601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36855 |
| RELX PLC | 292774 | &nbsp;&nbsp;&nbsp;8094623 |
| Resources Connection, Inc. | &nbsp;&nbsp;&nbsp;5106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93848 |
| Robert Half International, Inc. | &nbsp;&nbsp;12768 | &nbsp;&nbsp;&nbsp;&nbsp;942661 |
| Science Applications International Corp. | &nbsp;&nbsp;12947 | &nbsp;&nbsp;&nbsp;1436211 |
| SGS SA | &nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;2264117 |
| Skillsoft Corp. (A) | &nbsp;&nbsp;15324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19921 |
| Spire Global, Inc. (A) | &nbsp;&nbsp;21661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20795 |
| Sterling Check Corp. (A) | &nbsp;&nbsp;&nbsp;3766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58260 |
| Teleperformance | &nbsp;&nbsp;&nbsp;9017 | &nbsp;&nbsp;&nbsp;2155651 |
| TriNet Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5995 | &nbsp;&nbsp;&nbsp;&nbsp;406461 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp;102384 |
| Upwork, Inc. (A) | &nbsp;&nbsp;19329 | &nbsp;&nbsp;&nbsp;&nbsp;201795 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;17836 | &nbsp;&nbsp;&nbsp;3146627 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38056 |
| Wolters Kluwer NV | &nbsp;&nbsp;40039 | &nbsp;&nbsp;&nbsp;4189489 |
|  |  | 62393841 |
| **Road and rail – 0.9%** | **Road and rail – 0.9%** |  |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;3913 | &nbsp;&nbsp;&nbsp;&nbsp;274067 |
| Aurizon Holdings, Ltd. | 280748 | &nbsp;&nbsp;&nbsp;&nbsp;711258 |
| Avis Budget Group, Inc. (A) | &nbsp;&nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp;957843 |
| Central Japan Railway Company | &nbsp;&nbsp;21976 | &nbsp;&nbsp;&nbsp;2698203 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;1546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53445 |
| CSX Corp. | 243082 | &nbsp;&nbsp;&nbsp;7530680 |
| Daseke, Inc. (A) | &nbsp;&nbsp;&nbsp;7076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40262 |
| East Japan Railway Company | &nbsp;&nbsp;46140 | &nbsp;&nbsp;&nbsp;2628039 |
| Grab Holdings, Ltd., Class A (A) | 198000 | &nbsp;&nbsp;&nbsp;&nbsp;637560 |
| Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;1034003 |
| Heartland Express, Inc. | &nbsp;&nbsp;&nbsp;7448 | &nbsp;&nbsp;&nbsp;&nbsp;114252 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp;1632184 |
| Keio Corp. | &nbsp;&nbsp;15715 | &nbsp;&nbsp;&nbsp;&nbsp;575635 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 156 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Road and rail (continued)** | **Road and rail (continued)** |  |
| Keisei Electric Railway Company, Ltd. | &nbsp;&nbsp;19694 | $&nbsp;&nbsp;&nbsp;&nbsp;559531 |
| Kintetsu Group Holdings Company, Ltd. | &nbsp;&nbsp;26174 | &nbsp;&nbsp;&nbsp;&nbsp;864168 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;37739 | &nbsp;&nbsp;&nbsp;1977901 |
| Landstar System, Inc. | &nbsp;&nbsp;&nbsp;8437 | &nbsp;&nbsp;&nbsp;1374387 |
| Marten Transport, Ltd. | &nbsp;&nbsp;&nbsp;9276 | &nbsp;&nbsp;&nbsp;&nbsp;183479 |
| MTR Corp., Ltd. | 236315 | &nbsp;&nbsp;&nbsp;1249835 |
| Norfolk Southern Corp. | &nbsp;&nbsp;26619 | &nbsp;&nbsp;&nbsp;6559454 |
| Odakyu Electric Railway Company, Ltd. | &nbsp;&nbsp;44979 | &nbsp;&nbsp;&nbsp;&nbsp;582497 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;10394 | &nbsp;&nbsp;&nbsp;2949609 |
| PAM Transportation Services, Inc. (A) | &nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28620 |
| RXO, Inc. (A) | &nbsp;&nbsp;27034 | &nbsp;&nbsp;&nbsp;&nbsp;464985 |
| Ryder System, Inc. | &nbsp;&nbsp;11801 | &nbsp;&nbsp;&nbsp;&nbsp;986210 |
| Saia, Inc. (A) | &nbsp;&nbsp;10465 | &nbsp;&nbsp;&nbsp;2194301 |
| Tobu Railway Company, Ltd. | &nbsp;&nbsp;28773 | &nbsp;&nbsp;&nbsp;&nbsp;671129 |
| Tokyu Corp. | &nbsp;&nbsp;81008 | &nbsp;&nbsp;&nbsp;1020212 |
| TuSimple Holdings, Inc., Class A (A) | &nbsp;&nbsp;22788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37372 |
| Union Pacific Corp. | &nbsp;&nbsp;70672 | 14634051 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;1137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38021 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;23869 | &nbsp;&nbsp;&nbsp;&nbsp;960966 |
| West Japan Railway Company | &nbsp;&nbsp;33525 | &nbsp;&nbsp;&nbsp;1455632 |
| XPO, Inc. (A) | &nbsp;&nbsp;27046 | &nbsp;&nbsp;&nbsp;&nbsp;900361 |
|  |  | 58580152 |
| **Trading companies and distributors – 0.8%** | **Trading companies and distributors – 0.8%** |  |
| AerCap Holdings NV (A) | &nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;1201392 |
| Alta Equipment Group, Inc. | &nbsp;&nbsp;&nbsp;3538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46666 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;6089 | &nbsp;&nbsp;&nbsp;&nbsp;767397 |
| Ashtead Group PLC | &nbsp;&nbsp;67210 | &nbsp;&nbsp;&nbsp;3817847 |
| Beacon Roofing Supply, Inc. (A) | &nbsp;&nbsp;&nbsp;8196 | &nbsp;&nbsp;&nbsp;&nbsp;432667 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96283 |
| Boise Cascade Company | &nbsp;&nbsp;&nbsp;6242 | &nbsp;&nbsp;&nbsp;&nbsp;428638 |
| Brenntag SE | &nbsp;&nbsp;23564 | &nbsp;&nbsp;&nbsp;1502790 |
| Bunzl PLC | &nbsp;&nbsp;51484 | &nbsp;&nbsp;&nbsp;1712880 |
| Custom Truck One Source, Inc. (A) | &nbsp;&nbsp;&nbsp;9430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59598 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31663 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;2527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69619 |
| Fastenal Company | &nbsp;&nbsp;64934 | &nbsp;&nbsp;&nbsp;3072677 |
| GATX Corp. | &nbsp;&nbsp;13841 | &nbsp;&nbsp;&nbsp;1471852 |
| Global Industrial, Inc. | &nbsp;&nbsp;&nbsp;2126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50025 |
| GMS, Inc. (A) | &nbsp;&nbsp;&nbsp;6825 | &nbsp;&nbsp;&nbsp;&nbsp;339885 |
| H&E Equipment Services, Inc. | &nbsp;&nbsp;&nbsp;5145 | &nbsp;&nbsp;&nbsp;&nbsp;233583 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp;531543 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;6824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69059 |
| IMCD NV | &nbsp;&nbsp;&nbsp;8692 | &nbsp;&nbsp;&nbsp;1243316 |
| ITOCHU Corp. | 181304 | &nbsp;&nbsp;&nbsp;5688005 |
| Marubeni Corp. | 235859 | &nbsp;&nbsp;&nbsp;2701988 |
| McGrath RentCorp | &nbsp;&nbsp;&nbsp;3831 | &nbsp;&nbsp;&nbsp;&nbsp;378273 |
| Mitsubishi Corp. | 192606 | &nbsp;&nbsp;&nbsp;6252910 |
| Mitsui & Company, Ltd. | 218603 | &nbsp;&nbsp;&nbsp;6366966 |
| MonotaRO Company, Ltd. | &nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp;538081 |
| MRC Global, Inc. (A) | &nbsp;&nbsp;13392 | &nbsp;&nbsp;&nbsp;&nbsp;155079 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;11090 | &nbsp;&nbsp;&nbsp;&nbsp;906053 |
| NOW, Inc. (A) | &nbsp;&nbsp;17644 | &nbsp;&nbsp;&nbsp;&nbsp;224079 |
| Reece, Ltd. | &nbsp;&nbsp;34484 | &nbsp;&nbsp;&nbsp;&nbsp;329623 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;6399 | &nbsp;&nbsp;&nbsp;&nbsp;334540 |
| Rush Enterprises, Inc., Class B | &nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67355 |
| Sumitomo Corp. | 171838 | &nbsp;&nbsp;&nbsp;2856478 |
| Textainer Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;6753 | &nbsp;&nbsp;&nbsp;&nbsp;209411 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;&nbsp;3280 | &nbsp;&nbsp;&nbsp;&nbsp;130314 |
| Toyota Tsusho Corp. | &nbsp;&nbsp;32382 | &nbsp;&nbsp;&nbsp;1191151 |
| Transcat, Inc. (A) | &nbsp;&nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81146 |
| Triton International, Ltd. | &nbsp;&nbsp;&nbsp;9141 | &nbsp;&nbsp;&nbsp;&nbsp;628718 |
| United Rentals, Inc. (A) | &nbsp;&nbsp;&nbsp;8038 | &nbsp;&nbsp;&nbsp;2856866 |
| Univar Solutions, Inc. (A) | &nbsp;&nbsp;38320 | &nbsp;&nbsp;&nbsp;1218576 |
| Veritiv Corp. | &nbsp;&nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;256686 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;5144 | $&nbsp;&nbsp;&nbsp;&nbsp;2861350 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;7812 | &nbsp;&nbsp;&nbsp;&nbsp;1948313 |
|  |  | &nbsp;&nbsp;&nbsp;55361341 |
| **Transportation infrastructure – 0.1%** | **Transportation infrastructure – 0.1%** |  |
| Aena SME SA (A)(B) | &nbsp;&nbsp;11439 | &nbsp;&nbsp;&nbsp;&nbsp;1433974 |
| Aeroports de Paris (A) | &nbsp;&nbsp;&nbsp;4528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606623 |
| Auckland International Airport, Ltd. (A) | 190922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946895 |
| Getlink SE | &nbsp;&nbsp;67108 | &nbsp;&nbsp;&nbsp;&nbsp;1074610 |
| Transurban Group | 468936 | &nbsp;&nbsp;&nbsp;&nbsp;4125629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8187731 |
|  |  | 796750270 |
| **Information technology – 17.6%** |  |  |
| **Communications equipment – 0.7%** | **Communications equipment – 0.7%** |  |
| ADTRAN Holdings, Inc. | &nbsp;&nbsp;11256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211500 |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;27956 | &nbsp;&nbsp;&nbsp;&nbsp;3392461 |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;1804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56267 |
| Calix, Inc. (A) | &nbsp;&nbsp;22456 | &nbsp;&nbsp;&nbsp;&nbsp;1536664 |
| Cambium Networks Corp. (A) | &nbsp;&nbsp;&nbsp;1930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41823 |
| Ciena Corp. (A) | &nbsp;&nbsp;34791 | &nbsp;&nbsp;&nbsp;&nbsp;1773645 |
| Cisco Systems, Inc. | 469391 | &nbsp;&nbsp;&nbsp;22361787 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173406 |
| CommScope Holding Company, Inc. (A) | &nbsp;&nbsp;32928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242021 |
| Comtech Telecommunications Corp. | &nbsp;&nbsp;&nbsp;4689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56924 |
| Digi International, Inc. (A) | &nbsp;&nbsp;&nbsp;5451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199234 |
| DZS, Inc. (A) | &nbsp;&nbsp;&nbsp;2936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37228 |
| Extreme Networks, Inc. (A) | &nbsp;&nbsp;20249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370759 |
| F5, Inc. (A) | &nbsp;&nbsp;&nbsp;6593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946161 |
| Harmonic, Inc. (A) | &nbsp;&nbsp;14671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192190 |
| Infinera Corp. (A) | &nbsp;&nbsp;30677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206763 |
| Inseego Corp. (A) | &nbsp;&nbsp;15363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12943 |
| Juniper Networks, Inc. | &nbsp;&nbsp;35242 | &nbsp;&nbsp;&nbsp;&nbsp;1126334 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;16017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835607 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;18916 | &nbsp;&nbsp;&nbsp;&nbsp;4874842 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;&nbsp;4520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81857 |
| NetScout Systems, Inc. (A) | &nbsp;&nbsp;10892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354099 |
| Nokia OYJ | 825350 | &nbsp;&nbsp;&nbsp;&nbsp;3834326 |
| Ondas Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10446 |
| Ribbon Communications, Inc. (A) | &nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36549 |
| Telefonaktiebolaget LM Ericsson, B Shares | 445170 | &nbsp;&nbsp;&nbsp;&nbsp;2608434 |
| Viasat, Inc. (A) | &nbsp;&nbsp;17752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561851 |
| Viavi Solutions, Inc. (A) | &nbsp;&nbsp;36325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381776 |
|  |  | &nbsp;&nbsp;&nbsp;46517897 |
| **Electronic equipment, instruments and components – 1.1%** | **Electronic equipment, instruments and components – 1.1%** |  |
| 908 Devices, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;3691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28125 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;6023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516653 |
| Aeva Technologies, Inc. (A) | &nbsp;&nbsp;17833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24253 |
| Akoustis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;9662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27247 |
| Amphenol Corp., Class A | &nbsp;&nbsp;67591 | &nbsp;&nbsp;&nbsp;&nbsp;5146379 |
| Arlo Technologies, Inc. (A) | &nbsp;&nbsp;14531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51004 |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;14445 | &nbsp;&nbsp;&nbsp;&nbsp;1510514 |
| Avnet, Inc. | &nbsp;&nbsp;21493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893679 |
| Azbil Corp. | &nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439377 |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;4660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508080 |
| Belden, Inc. | &nbsp;&nbsp;16856 | &nbsp;&nbsp;&nbsp;&nbsp;1211946 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;5473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146074 |
| CDW Corp. | &nbsp;&nbsp;15166 | &nbsp;&nbsp;&nbsp;&nbsp;2708344 |
| Cognex Corp. | &nbsp;&nbsp;40612 | &nbsp;&nbsp;&nbsp;&nbsp;1913231 |
| Coherent Corp. (A) | &nbsp;&nbsp;32571 | &nbsp;&nbsp;&nbsp;&nbsp;1143242 |
| Corning, Inc. | &nbsp;&nbsp;87111 | &nbsp;&nbsp;&nbsp;&nbsp;2782325 |
| CTS Corp. | &nbsp;&nbsp;&nbsp;5022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197967 |
| ePlus, Inc. (A) | &nbsp;&nbsp;&nbsp;4321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191334 |
| Evolv Technologies Holdings, Inc. (A)(C) | &nbsp;&nbsp;14657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37962 |
| Fabrinet (A) | &nbsp;&nbsp;&nbsp;5887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754831 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91230 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 157 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Focus Universal, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;2878 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18448 |
| Halma PLC | &nbsp;&nbsp;57904 | &nbsp;&nbsp;&nbsp;1378980 |
| Hamamatsu Photonics KK | &nbsp;&nbsp;21400 | &nbsp;&nbsp;&nbsp;1021373 |
| Hexagon AB, B Shares | 296867 | &nbsp;&nbsp;&nbsp;3112675 |
| Hirose Electric Company, Ltd. | &nbsp;&nbsp;&nbsp;4575 | &nbsp;&nbsp;&nbsp;&nbsp;573803 |
| Ibiden Company, Ltd. | &nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp;620275 |
| Identiv, Inc. (A) | &nbsp;&nbsp;&nbsp;3883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28113 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;5019 | &nbsp;&nbsp;&nbsp;&nbsp;503255 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;&nbsp;7551 | &nbsp;&nbsp;&nbsp;&nbsp;714853 |
| Itron, Inc. (A) | &nbsp;&nbsp;&nbsp;7274 | &nbsp;&nbsp;&nbsp;&nbsp;368428 |
| Jabil, Inc. | &nbsp;&nbsp;31620 | &nbsp;&nbsp;&nbsp;2156484 |
| Keyence Corp. | &nbsp;&nbsp;29700 | 11530862 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;20556 | &nbsp;&nbsp;&nbsp;3516515 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;3967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89615 |
| Knowles Corp. (A) | &nbsp;&nbsp;14415 | &nbsp;&nbsp;&nbsp;&nbsp;236694 |
| Kyocera Corp. | &nbsp;&nbsp;48963 | &nbsp;&nbsp;&nbsp;2430359 |
| Lightwave Logic, Inc. (A)(C) | &nbsp;&nbsp;17933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77291 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;5814 | &nbsp;&nbsp;&nbsp;1280243 |
| Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;5758 | &nbsp;&nbsp;&nbsp;&nbsp;255482 |
| MicroVision, Inc. (A)(C) | &nbsp;&nbsp;27024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63506 |
| Mirion Technologies, Inc. (A) | &nbsp;&nbsp;21892 | &nbsp;&nbsp;&nbsp;&nbsp;144706 |
| Murata Manufacturing Company, Ltd. | &nbsp;&nbsp;87639 | &nbsp;&nbsp;&nbsp;4321933 |
| Napco Security Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;4695 | &nbsp;&nbsp;&nbsp;&nbsp;129019 |
| National Instruments Corp. | &nbsp;&nbsp;30664 | &nbsp;&nbsp;&nbsp;1131502 |
| nLight, Inc. (A) | &nbsp;&nbsp;&nbsp;7598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77044 |
| Novanta, Inc. (A) | &nbsp;&nbsp;14066 | &nbsp;&nbsp;&nbsp;1911147 |
| Omron Corp. | &nbsp;&nbsp;28318 | &nbsp;&nbsp;&nbsp;1368546 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;2537 | &nbsp;&nbsp;&nbsp;&nbsp;201742 |
| Ouster, Inc. (A) | &nbsp;&nbsp;24749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21358 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;&nbsp;4340 | &nbsp;&nbsp;&nbsp;&nbsp;113144 |
| PC Connection, Inc. | &nbsp;&nbsp;&nbsp;1763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82685 |
| Plexus Corp. (A) | &nbsp;&nbsp;&nbsp;4357 | &nbsp;&nbsp;&nbsp;&nbsp;448466 |
| Rogers Corp. (A) | &nbsp;&nbsp;&nbsp;2982 | &nbsp;&nbsp;&nbsp;&nbsp;355872 |
| Sanmina Corp. (A) | &nbsp;&nbsp;&nbsp;9081 | &nbsp;&nbsp;&nbsp;&nbsp;520250 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;&nbsp;4093 | &nbsp;&nbsp;&nbsp;&nbsp;119597 |
| Shimadzu Corp. | &nbsp;&nbsp;36092 | &nbsp;&nbsp;&nbsp;1021760 |
| SmartRent, Inc. (A) | &nbsp;&nbsp;20454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49703 |
| TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;9874 | &nbsp;&nbsp;&nbsp;&nbsp;935167 |
| TDK Corp. | &nbsp;&nbsp;59263 | &nbsp;&nbsp;&nbsp;1928037 |
| TE Connectivity, Ltd. | &nbsp;&nbsp;36457 | &nbsp;&nbsp;&nbsp;4185264 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;5348 | &nbsp;&nbsp;&nbsp;2138719 |
| Trimble, Inc. (A) | &nbsp;&nbsp;27460 | &nbsp;&nbsp;&nbsp;1388378 |
| TTM Technologies, Inc. (A) | &nbsp;&nbsp;16192 | &nbsp;&nbsp;&nbsp;&nbsp;244175 |
| Velodyne Lidar, Inc. (A) | &nbsp;&nbsp;33765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24942 |
| Venture Corp., Ltd. | &nbsp;&nbsp;42300 | &nbsp;&nbsp;&nbsp;&nbsp;539163 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;50901 | &nbsp;&nbsp;&nbsp;1097935 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77455 |
| Vontier Corp. | &nbsp;&nbsp;37105 | &nbsp;&nbsp;&nbsp;&nbsp;717240 |
| Yokogawa Electric Corp. | &nbsp;&nbsp;34792 | &nbsp;&nbsp;&nbsp;&nbsp;552183 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;&nbsp;5839 | &nbsp;&nbsp;&nbsp;1497178 |
|  |  | 77645361 |
| **IT services – 3.1%** | **IT services – 3.1%** |  |
| Accenture PLC, Class A | &nbsp;&nbsp;71850 | 19172454 |
| Adyen NV (A)(B) | &nbsp;&nbsp;&nbsp;3307 | &nbsp;&nbsp;&nbsp;4590939 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;17758 | &nbsp;&nbsp;&nbsp;1496999 |
| Amadeus IT Group SA (A) | &nbsp;&nbsp;68710 | &nbsp;&nbsp;&nbsp;3564518 |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;47217 | 11278253 |
| AvidXchange Holdings, Inc. (A) | &nbsp;&nbsp;23675 | &nbsp;&nbsp;&nbsp;&nbsp;235330 |
| Bechtle AG | &nbsp;&nbsp;12491 | &nbsp;&nbsp;&nbsp;&nbsp;441534 |
| BigCommerce Holdings, Inc., Series 1 (A) | &nbsp;&nbsp;10521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91954 |
| Brightcove, Inc. (A) | &nbsp;&nbsp;&nbsp;7069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36971 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;13295 | &nbsp;&nbsp;&nbsp;1783258 |
| Cantaloupe, Inc. (A) | &nbsp;&nbsp;10453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45471 |
| Capgemini SE | &nbsp;&nbsp;24978 | &nbsp;&nbsp;&nbsp;4175722 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **IT services (continued)** | **IT services (continued)** |  |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;2215 | $&nbsp;&nbsp;&nbsp;&nbsp;101491 |
| Cerberus Cyber Sentinel Corp. (A) | &nbsp;&nbsp;&nbsp;7704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19645 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;58834 | &nbsp;&nbsp;&nbsp;3364716 |
| Computershare, Ltd. | &nbsp;&nbsp;82872 | &nbsp;&nbsp;&nbsp;1459875 |
| Concentrix Corp. | &nbsp;&nbsp;&nbsp;9950 | &nbsp;&nbsp;&nbsp;1324942 |
| Conduent, Inc. (A) | &nbsp;&nbsp;28166 | &nbsp;&nbsp;&nbsp;&nbsp;114072 |
| CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;4970 | &nbsp;&nbsp;&nbsp;&nbsp;284284 |
| DigitalOcean Holdings, Inc. (A) | &nbsp;&nbsp;11208 | &nbsp;&nbsp;&nbsp;&nbsp;285468 |
| DXC Technology Company (A) | &nbsp;&nbsp;25790 | &nbsp;&nbsp;&nbsp;&nbsp;683435 |
| Edenred | &nbsp;&nbsp;38067 | &nbsp;&nbsp;&nbsp;2071810 |
| Edgio, Inc. (A) | &nbsp;&nbsp;21851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24692 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;2109662 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;11065 | &nbsp;&nbsp;&nbsp;1044315 |
| EVERTEC, Inc. | &nbsp;&nbsp;&nbsp;9854 | &nbsp;&nbsp;&nbsp;&nbsp;319073 |
| Evo Payments, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7531 | &nbsp;&nbsp;&nbsp;&nbsp;254849 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;12931 | &nbsp;&nbsp;&nbsp;2190899 |
| Fastly, Inc., Class A (A) | &nbsp;&nbsp;18112 | &nbsp;&nbsp;&nbsp;&nbsp;148337 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;68980 | &nbsp;&nbsp;&nbsp;4680293 |
| Fiserv, Inc. (A) | &nbsp;&nbsp;72513 | &nbsp;&nbsp;&nbsp;7328889 |
| FleetCor Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;8364 | &nbsp;&nbsp;&nbsp;1536300 |
| Flywire Corp. (A) | &nbsp;&nbsp;&nbsp;9044 | &nbsp;&nbsp;&nbsp;&nbsp;221307 |
| Fujitsu, Ltd. | &nbsp;&nbsp;30023 | &nbsp;&nbsp;&nbsp;4002592 |
| Gartner, Inc. (A) | &nbsp;&nbsp;&nbsp;9084 | &nbsp;&nbsp;&nbsp;3053496 |
| Genpact, Ltd. | &nbsp;&nbsp;39595 | &nbsp;&nbsp;&nbsp;1834040 |
| Global Payments, Inc. | &nbsp;&nbsp;31215 | &nbsp;&nbsp;&nbsp;3100274 |
| GMO Payment Gateway, Inc. | &nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;529273 |
| Grid Dynamics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89367 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85920 |
| IBM Corp. | 102404 | 14427700 |
| Information Services Group, Inc. | &nbsp;&nbsp;&nbsp;5904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27158 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;&nbsp;5161 | &nbsp;&nbsp;&nbsp;&nbsp;125774 |
| Itochu Techno-Solutions Corp. | &nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp;338658 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;8103 | &nbsp;&nbsp;&nbsp;1422563 |
| Kyndryl Holdings, Inc. (A) | &nbsp;&nbsp;47935 | &nbsp;&nbsp;&nbsp;&nbsp;533037 |
| Marqeta, Inc., Class A (A) | &nbsp;&nbsp;69889 | &nbsp;&nbsp;&nbsp;&nbsp;427022 |
| Mastercard, Inc., Class A | &nbsp;&nbsp;96736 | 33638009 |
| Maximus, Inc. | &nbsp;&nbsp;23877 | &nbsp;&nbsp;&nbsp;1750900 |
| MoneyGram International, Inc. (A) | &nbsp;&nbsp;14974 | &nbsp;&nbsp;&nbsp;&nbsp;163067 |
| NEC Corp. | &nbsp;&nbsp;37484 | &nbsp;&nbsp;&nbsp;1314535 |
| Nexi SpA (A)(B) | &nbsp;&nbsp;90023 | &nbsp;&nbsp;&nbsp;&nbsp;710636 |
| Nomura Research Institute, Ltd. | &nbsp;&nbsp;60600 | &nbsp;&nbsp;&nbsp;1440700 |
| NTT Data Corp. | &nbsp;&nbsp;96210 | &nbsp;&nbsp;&nbsp;1402043 |
| Obic Company, Ltd. | &nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;1556176 |
| Otsuka Corp. | &nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;548454 |
| Paya Holdings, Inc. (A) | &nbsp;&nbsp;14146 | &nbsp;&nbsp;&nbsp;&nbsp;111329 |
| Paychex, Inc. | &nbsp;&nbsp;36302 | &nbsp;&nbsp;&nbsp;4195059 |
| Payoneer Global, Inc. (A) | &nbsp;&nbsp;34784 | &nbsp;&nbsp;&nbsp;&nbsp;190268 |
| PayPal Holdings, Inc. (A) | 130745 | &nbsp;&nbsp;&nbsp;9311659 |
| Paysafe, Ltd. (A) | &nbsp;&nbsp;&nbsp;4831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67103 |
| Perficient, Inc. (A) | &nbsp;&nbsp;&nbsp;5493 | &nbsp;&nbsp;&nbsp;&nbsp;383576 |
| PFSweb, Inc. | &nbsp;&nbsp;&nbsp;3022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18585 |
| Rackspace Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;9579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28258 |
| Remitly Global, Inc. (A) | &nbsp;&nbsp;16143 | &nbsp;&nbsp;&nbsp;&nbsp;184837 |
| Repay Holdings Corp. (A) | &nbsp;&nbsp;14685 | &nbsp;&nbsp;&nbsp;&nbsp;118214 |
| Sabre Corp. (A) | &nbsp;&nbsp;52541 | &nbsp;&nbsp;&nbsp;&nbsp;324703 |
| SCSK Corp. | &nbsp;&nbsp;23800 | &nbsp;&nbsp;&nbsp;&nbsp;360254 |
| Squarespace, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5057 | &nbsp;&nbsp;&nbsp;&nbsp;112114 |
| StoneCo, Ltd., Class A (A) | &nbsp;&nbsp;44560 | &nbsp;&nbsp;&nbsp;&nbsp;420646 |
| The Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;4342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88447 |
| The Western Union Company | &nbsp;&nbsp;90692 | &nbsp;&nbsp;&nbsp;1248829 |
| TIS, Inc. | &nbsp;&nbsp;34500 | &nbsp;&nbsp;&nbsp;&nbsp;906721 |
| TTEC Holdings, Inc. | &nbsp;&nbsp;&nbsp;3072 | &nbsp;&nbsp;&nbsp;&nbsp;135567 |
| Tucows, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56952 |
| Unisys Corp. (A) | &nbsp;&nbsp;10933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55868 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 158 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **IT services (continued)** | **IT services (continued)** |  |
| VeriSign, Inc. (A) | &nbsp;&nbsp;10608 | $&nbsp;&nbsp;&nbsp;&nbsp;2179308 |
| Verra Mobility Corp. (A) | &nbsp;&nbsp;22669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313512 |
| Visa, Inc., Class A | 185380 | &nbsp;&nbsp;&nbsp;38514549 |
| WEX, Inc. (A) | &nbsp;&nbsp;10238 | &nbsp;&nbsp;&nbsp;&nbsp;1675449 |
| Wix.com, Ltd. (A) | &nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668421 |
| Worldline SA (A)(B) | &nbsp;&nbsp;36484 | &nbsp;&nbsp;&nbsp;&nbsp;1428803 |
|  |  | 212102182 |
| **Semiconductors and semiconductor equipment – 3.9%** | **Semiconductors and semiconductor equipment – 3.9%** |  |
| ACM Research, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62397 |
| Advanced Micro Devices, Inc. (A) | 183144 | &nbsp;&nbsp;&nbsp;11862237 |
| Advantest Corp. | &nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;&nbsp;1851003 |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;15276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458586 |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;3512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100338 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;&nbsp;5888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484170 |
| Amkor Technology, Inc. | &nbsp;&nbsp;39824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954980 |
| Analog Devices, Inc. | &nbsp;&nbsp;59167 | &nbsp;&nbsp;&nbsp;&nbsp;9705163 |
| Applied Materials, Inc. | &nbsp;&nbsp;98616 | &nbsp;&nbsp;&nbsp;&nbsp;9603226 |
| ASM International NV | &nbsp;&nbsp;&nbsp;7143 | &nbsp;&nbsp;&nbsp;&nbsp;1812425 |
| ASML Holding NV | &nbsp;&nbsp;61995 | &nbsp;&nbsp;&nbsp;33802875 |
| Atomera, Inc. (A) | &nbsp;&nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22641 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;5253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416878 |
| AXT, Inc. (A) | &nbsp;&nbsp;&nbsp;7177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31435 |
| Broadcom, Inc. | &nbsp;&nbsp;45780 | &nbsp;&nbsp;&nbsp;25596971 |
| CEVA, Inc. (A) | &nbsp;&nbsp;&nbsp;3719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95132 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;12931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963101 |
| Cohu, Inc. (A) | &nbsp;&nbsp;&nbsp;7699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246753 |
| Credo Technology Group Holding, Ltd. (A) | &nbsp;&nbsp;15551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206984 |
| Diodes, Inc. (A) | &nbsp;&nbsp;&nbsp;7136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543335 |
| Disco Corp. | &nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;1254092 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;15360 | &nbsp;&nbsp;&nbsp;&nbsp;4069786 |
| First Solar, Inc. (A) | &nbsp;&nbsp;11478 | &nbsp;&nbsp;&nbsp;&nbsp;1719290 |
| FormFactor, Inc. (A) | &nbsp;&nbsp;12479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277408 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;4622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123962 |
| Impinj, Inc. (A) | &nbsp;&nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368046 |
| Indie Semiconductor, Inc., Class A (A) | &nbsp;&nbsp;16656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97104 |
| Infineon Technologies AG | 199178 | &nbsp;&nbsp;&nbsp;&nbsp;6053395 |
| Intel Corp. | 465415 | &nbsp;&nbsp;&nbsp;12300918 |
| KLA Corp. | &nbsp;&nbsp;16075 | &nbsp;&nbsp;&nbsp;&nbsp;6060757 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;&nbsp;9068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401350 |
| Lam Research Corp. | &nbsp;&nbsp;15498 | &nbsp;&nbsp;&nbsp;&nbsp;6513809 |
| Lasertec Corp. | &nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp;1877612 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;32188 | &nbsp;&nbsp;&nbsp;&nbsp;2088357 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;20117 | &nbsp;&nbsp;&nbsp;&nbsp;1266969 |
| MaxLinear, Inc. (A) | &nbsp;&nbsp;11727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398132 |
| Microchip Technology, Inc. | &nbsp;&nbsp;62772 | &nbsp;&nbsp;&nbsp;&nbsp;4409733 |
| Micron Technology, Inc. | 124806 | &nbsp;&nbsp;&nbsp;&nbsp;6237804 |
| MKS Instruments, Inc. | &nbsp;&nbsp;13432 | &nbsp;&nbsp;&nbsp;&nbsp;1138093 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;5053 | &nbsp;&nbsp;&nbsp;&nbsp;1786791 |
| NVIDIA Corp. | 283877 | &nbsp;&nbsp;&nbsp;41485785 |
| NXP Semiconductors NV | &nbsp;&nbsp;29662 | &nbsp;&nbsp;&nbsp;&nbsp;4687486 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;49114 | &nbsp;&nbsp;&nbsp;&nbsp;3063240 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;7947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541111 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;4819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137438 |
| Photronics, Inc. (A) | &nbsp;&nbsp;&nbsp;9526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160323 |
| Power Integrations, Inc. | &nbsp;&nbsp;22523 | &nbsp;&nbsp;&nbsp;&nbsp;1615350 |
| Qorvo, Inc. (A) | &nbsp;&nbsp;11679 | &nbsp;&nbsp;&nbsp;&nbsp;1058585 |
| Qualcomm, Inc. | 127307 | &nbsp;&nbsp;&nbsp;13996132 |
| Rambus, Inc. (A) | &nbsp;&nbsp;17146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614170 |
| Renesas Electronics Corp. (A) | 178800 | &nbsp;&nbsp;&nbsp;&nbsp;1580281 |
| Rohm Company, Ltd. | &nbsp;&nbsp;13342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956479 |
| Semtech Corp. (A) | &nbsp;&nbsp;10225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293355 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;13117 | &nbsp;&nbsp;&nbsp;&nbsp;1779583 |
| SiTime Corp. (A) | &nbsp;&nbsp;&nbsp;6383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648640 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;17981 | &nbsp;&nbsp;&nbsp;&nbsp;1638609 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| SMART Global Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7834 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116570 |
| SolarEdge Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;6358 | &nbsp;&nbsp;&nbsp;&nbsp;1801031 |
| STMicroelectronics NV | 104241 | &nbsp;&nbsp;&nbsp;&nbsp;3704311 |
| SUMCO Corp. | &nbsp;&nbsp;53400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707475 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;15736 | &nbsp;&nbsp;&nbsp;&nbsp;1497438 |
| Teradyne, Inc. | &nbsp;&nbsp;17838 | &nbsp;&nbsp;&nbsp;&nbsp;1558149 |
| Texas Instruments, Inc. | 103572 | &nbsp;&nbsp;&nbsp;17112166 |
| Tokyo Electron, Ltd. | &nbsp;&nbsp;22760 | &nbsp;&nbsp;&nbsp;&nbsp;6687541 |
| Tower Semiconductor, Ltd. (A) | &nbsp;&nbsp;16668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727563 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240835 |
| Universal Display Corp. | &nbsp;&nbsp;10206 | &nbsp;&nbsp;&nbsp;&nbsp;1102656 |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;&nbsp;8271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153675 |
| Wolfspeed, Inc. (A) | &nbsp;&nbsp;29171 | &nbsp;&nbsp;&nbsp;&nbsp;2013966 |
|  |  | 268943981 |
| **Software – 5.3%** | **Software – 5.3%** |  |
| 8x8, Inc. (A) | &nbsp;&nbsp;19657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84918 |
| A10 Networks, Inc. | &nbsp;&nbsp;10545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175363 |
| ACI Worldwide, Inc. (A) | &nbsp;&nbsp;44569 | &nbsp;&nbsp;&nbsp;&nbsp;1025087 |
| Adeia, Inc. | &nbsp;&nbsp;16850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159738 |
| Adobe, Inc. (A) | &nbsp;&nbsp;53056 | &nbsp;&nbsp;&nbsp;17854936 |
| Agilysys, Inc. (A) | &nbsp;&nbsp;&nbsp;3164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250399 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;7708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381392 |
| Alkami Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;5777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84286 |
| Altair Engineering, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;8346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379493 |
| American Software, Inc., Class A | &nbsp;&nbsp;&nbsp;5873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86216 |
| Amplitude, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;9160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110653 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;10025 | &nbsp;&nbsp;&nbsp;&nbsp;2421940 |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321409 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;6446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209882 |
| Asana, Inc., Class A (A) | &nbsp;&nbsp;11882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163615 |
| Aspen Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;6821 | &nbsp;&nbsp;&nbsp;&nbsp;1401033 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;24544 | &nbsp;&nbsp;&nbsp;&nbsp;4586537 |
| AvePoint, Inc. (A) | &nbsp;&nbsp;21341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87712 |
| AVEVA Group PLC | &nbsp;&nbsp;18416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712829 |
| Benefitfocus, Inc. (A) | &nbsp;&nbsp;&nbsp;4350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45501 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;17929 | &nbsp;&nbsp;&nbsp;&nbsp;1055301 |
| Blackline, Inc. (A) | &nbsp;&nbsp;&nbsp;8871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596752 |
| Blend Labs, Inc., Class A (A) | &nbsp;&nbsp;31176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44893 |
| Box, Inc., Class A (A) | &nbsp;&nbsp;22335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695289 |
| c3.ai, Inc., Class A (A) | &nbsp;&nbsp;10354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115861 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;31141 | &nbsp;&nbsp;&nbsp;&nbsp;5002490 |
| Cerence, Inc. (A) | &nbsp;&nbsp;&nbsp;6504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120519 |
| Ceridian HCM Holding, Inc. (A) | &nbsp;&nbsp;17351 | &nbsp;&nbsp;&nbsp;&nbsp;1113067 |
| Check Point Software Technologies, Ltd. (A) | &nbsp;&nbsp;15326 | &nbsp;&nbsp;&nbsp;&nbsp;1933528 |
| Cleanspark, Inc. (A) | &nbsp;&nbsp;&nbsp;8081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16485 |
| Clear Secure, Inc., Class A | &nbsp;&nbsp;&nbsp;9999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274273 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;17573 | &nbsp;&nbsp;&nbsp;&nbsp;1104287 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;2559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137572 |
| Couchbase, Inc. (A) | &nbsp;&nbsp;&nbsp;4440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58874 |
| CS Disco, Inc. (A) | &nbsp;&nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24193 |
| Cvent Holding Corp. (A)(C) | &nbsp;&nbsp;&nbsp;7541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40721 |
| CyberArk Software, Ltd. (A) | &nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803830 |
| Dassault Systemes SE | 101659 | &nbsp;&nbsp;&nbsp;&nbsp;3655622 |
| Digimarc Corp. (A)(C) | &nbsp;&nbsp;&nbsp;2379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43988 |
| Digital Turbine, Inc. (A) | &nbsp;&nbsp;15155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230962 |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;5017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71442 |
| Duck Creek Technologies, Inc. (A) | &nbsp;&nbsp;12579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151577 |
| Dynatrace, Inc. (A) | &nbsp;&nbsp;47321 | &nbsp;&nbsp;&nbsp;&nbsp;1812394 |
| E2open Parent Holdings, Inc. (A) | &nbsp;&nbsp;31981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187728 |
| Ebix, Inc. | &nbsp;&nbsp;&nbsp;4255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84930 |
| eGain Corp. (A) | &nbsp;&nbsp;&nbsp;3658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33032 |
| Enfusion, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42006 |
| EngageSmart, Inc. (A) | &nbsp;&nbsp;&nbsp;5571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98050 |
| Envestnet, Inc. (A) | &nbsp;&nbsp;21818 | &nbsp;&nbsp;&nbsp;&nbsp;1346171 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 159 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Everbridge, Inc. (A) | &nbsp;&nbsp;&nbsp;6382 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188780 |
| EverCommerce, Inc. (A) | &nbsp;&nbsp;&nbsp;4148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30861 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;5866 | &nbsp;&nbsp;&nbsp;&nbsp;3511270 |
| ForgeRock, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;5649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128628 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;73808 | &nbsp;&nbsp;&nbsp;&nbsp;3608473 |
| Gen Digital, Inc. | &nbsp;&nbsp;67853 | &nbsp;&nbsp;&nbsp;&nbsp;1454090 |
| Instructure Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63007 |
| Intapp, Inc. (A) | &nbsp;&nbsp;&nbsp;2251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56140 |
| InterDigital, Inc. | &nbsp;&nbsp;&nbsp;4763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235673 |
| Intuit, Inc. | &nbsp;&nbsp;31946 | &nbsp;&nbsp;&nbsp;12434022 |
| KnowBe4, Inc., Class A (A) | &nbsp;&nbsp;11651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288712 |
| Latch, Inc. (A) | &nbsp;&nbsp;21091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14973 |
| LivePerson, Inc. (A) | &nbsp;&nbsp;11556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117178 |
| LiveRamp Holdings, Inc. (A) | &nbsp;&nbsp;10693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250644 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;14654 | &nbsp;&nbsp;&nbsp;&nbsp;1778996 |
| Marathon Digital Holdings, Inc. (A)(C) | &nbsp;&nbsp;18289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62548 |
| Matterport, Inc. (A) | &nbsp;&nbsp;36274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101567 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;&nbsp;3652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50142 |
| Microsoft Corp. | 845497 | 202767091 |
| MicroStrategy, Inc., Class A (A)(C) | &nbsp;&nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213771 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;6899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66851 |
| Model N, Inc. (A) | &nbsp;&nbsp;&nbsp;5864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237844 |
| Momentive Global, Inc. (A) | &nbsp;&nbsp;21168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148176 |
| N-able, Inc. (A) | &nbsp;&nbsp;10801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111034 |
| NCR Corp. (A) | &nbsp;&nbsp;32268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755394 |
| Nemetschek SE | &nbsp;&nbsp;&nbsp;8808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450321 |
| NextNav, Inc. (A) | &nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33988 |
| Nice, Ltd. (A) | &nbsp;&nbsp;&nbsp;9690 | &nbsp;&nbsp;&nbsp;&nbsp;1864143 |
| Olo, Inc., Class A (A) | &nbsp;&nbsp;14658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91613 |
| ON24, Inc. (A) | &nbsp;&nbsp;&nbsp;7134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61566 |
| OneSpan, Inc. (A) | &nbsp;&nbsp;&nbsp;6470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72399 |
| Oracle Corp. | 172213 | &nbsp;&nbsp;&nbsp;14076691 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp;5906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384017 |
| PagerDuty, Inc. (A) | &nbsp;&nbsp;13680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363341 |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;&nbsp;5513 | &nbsp;&nbsp;&nbsp;&nbsp;1710739 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;&nbsp;9675 | &nbsp;&nbsp;&nbsp;&nbsp;1879466 |
| PowerSchool Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169061 |
| Progress Software Corp. | &nbsp;&nbsp;&nbsp;6936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349921 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;6601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160140 |
| PTC, Inc. (A) | &nbsp;&nbsp;12274 | &nbsp;&nbsp;&nbsp;&nbsp;1473371 |
| Q2 Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;9024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242475 |
| Qualys, Inc. (A) | &nbsp;&nbsp;14273 | &nbsp;&nbsp;&nbsp;&nbsp;1601859 |
| Rapid7, Inc. (A) | &nbsp;&nbsp;&nbsp;9340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317373 |
| Rimini Street, Inc. (A) | &nbsp;&nbsp;&nbsp;8230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31356 |
| Riot Blockchain, Inc. (A)(C) | &nbsp;&nbsp;24907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84435 |
| Roper Technologies, Inc. | &nbsp;&nbsp;11963 | &nbsp;&nbsp;&nbsp;&nbsp;5169093 |
| salesforce.com, Inc. (A) | 112802 | &nbsp;&nbsp;&nbsp;14956417 |
| SAP SE | 159265 | &nbsp;&nbsp;&nbsp;16442626 |
| Sapiens International Corp. NV | &nbsp;&nbsp;&nbsp;5017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92714 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;22899 | &nbsp;&nbsp;&nbsp;&nbsp;8890995 |
| ShotSpotter, Inc. (A) | &nbsp;&nbsp;&nbsp;1477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49967 |
| SolarWinds Corp. (A) | &nbsp;&nbsp;&nbsp;8166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76434 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416336 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;&nbsp;5783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742711 |
| Sumo Logic, Inc. (A) | &nbsp;&nbsp;18521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150020 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;17311 | &nbsp;&nbsp;&nbsp;&nbsp;5527229 |
| Telos Corp. (A) | &nbsp;&nbsp;&nbsp;8664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44100 |
| Temenos AG | &nbsp;&nbsp;&nbsp;9699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533574 |
| Tenable Holdings, Inc. (A) | &nbsp;&nbsp;17625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672394 |
| Teradata Corp. (A) | &nbsp;&nbsp;23908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804743 |
| The Sage Group PLC | 155387 | &nbsp;&nbsp;&nbsp;&nbsp;1399214 |
| Trend Micro, Inc. | &nbsp;&nbsp;20364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952370 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp;1540475 |
| Upland Software, Inc. (A) | &nbsp;&nbsp;&nbsp;5131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36584 |
| UserTesting, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;7729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58045 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Varonis Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;17539 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419884 |
| Verint Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371108 |
| Veritone, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;5455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28912 |
| Weave Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25323 |
| WiseTech Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770425 |
| WM Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13614 |
| Workiva, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;7643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641783 |
| Xero, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982144 |
| Xperi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59065 |
| Yext, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121817 |
| Zeta Global Holdings Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;17573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143571 |
| Zuora, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;19825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126087 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;367792690 |
| **Technology hardware, storage and peripherals – 3.5%** | **Technology hardware, storage and peripherals – 3.5%** |  |
| Apple, Inc. | 1702069 | &nbsp;&nbsp;&nbsp;&nbsp;221149825 |
| Avid Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154249 |
| Brother Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;36036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544636 |
| Canon, Inc. (C) | &nbsp;&nbsp;152577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302385 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86454 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;12734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18082 |
| Eastman Kodak Company (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;9579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29216 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2746979 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;145065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315237 |
| HP, Inc. | &nbsp;&nbsp;103222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773575 |
| IonQ, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67023 |
| Logitech International SA | &nbsp;&nbsp;&nbsp;&nbsp;26402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637173 |
| NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492551 |
| Ricoh Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;87477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665800 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;22064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160787 |
| Seiko Epson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620473 |
| Super Micro Computer, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;18368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508013 |
| Western Digital Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144760 |
| Xerox Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654752 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;242071970 |
|  |  | 1215074081 |
| **Materials – 4.6%** |  |  |
| **Chemicals – 2.2%** | **Chemicals – 2.2%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163144 |
| Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;79815 | &nbsp;&nbsp;&nbsp;&nbsp;11328565 |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7720988 |
| Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;27699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858673 |
| Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902237 |
| American Vanguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99736 |
| Amyris, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;31782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48626 |
| Arkema SA | &nbsp;&nbsp;&nbsp;&nbsp;9064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815260 |
| Asahi Kasei Corp. | &nbsp;&nbsp;191357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362190 |
| Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257778 |
| Aspen Aerogels, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60553 |
| Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170696 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620685 |
| BASF SE | &nbsp;&nbsp;140086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6897637 |
| Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475226 |
| Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157766 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927991 |
| Chase Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102908 |
| Chr. Hansen Holding A/S | &nbsp;&nbsp;&nbsp;&nbsp;16088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157254 |
| Clariant AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;32907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522610 |
| Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804795 |
| Covestro AG (B) | &nbsp;&nbsp;&nbsp;&nbsp;29467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147917 |
| Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;21297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694784 |
| Danimer Scientific, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;16341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29250 |
| Diversey Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;13189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56185 |
| Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4063500 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930783 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 160 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Eastman Chemical Company | &nbsp;&nbsp;13974 | $&nbsp;&nbsp;&nbsp;1138043 |
| Ecolab, Inc. | &nbsp;&nbsp;28022 | &nbsp;&nbsp;&nbsp;4078882 |
| Ecovyst, Inc. (A) | &nbsp;&nbsp;11714 | &nbsp;&nbsp;&nbsp;&nbsp;103786 |
| EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp;724712 |
| Evonik Industries AG | &nbsp;&nbsp;31984 | &nbsp;&nbsp;&nbsp;&nbsp;610057 |
| FMC Corp. | &nbsp;&nbsp;14447 | &nbsp;&nbsp;&nbsp;1802986 |
| FutureFuel Corp. | &nbsp;&nbsp;&nbsp;4497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36561 |
| Givaudan SA | &nbsp;&nbsp;&nbsp;1408 | &nbsp;&nbsp;&nbsp;4312572 |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;&nbsp;118965 |
| HB Fuller Company | &nbsp;&nbsp;&nbsp;8440 | &nbsp;&nbsp;&nbsp;&nbsp;604473 |
| ICL Group, Ltd. | 107975 | &nbsp;&nbsp;&nbsp;&nbsp;780169 |
| Ingevity Corp. (A) | &nbsp;&nbsp;14287 | &nbsp;&nbsp;&nbsp;1006376 |
| Innospec, Inc. | &nbsp;&nbsp;&nbsp;3926 | &nbsp;&nbsp;&nbsp;&nbsp;403828 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;28754 | &nbsp;&nbsp;&nbsp;3014569 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;&nbsp;1791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51706 |
| Johnson Matthey PLC | &nbsp;&nbsp;27930 | &nbsp;&nbsp;&nbsp;&nbsp;713812 |
| JSR Corp. | &nbsp;&nbsp;26990 | &nbsp;&nbsp;&nbsp;&nbsp;528498 |
| Koninklijke DSM NV | &nbsp;&nbsp;26658 | &nbsp;&nbsp;&nbsp;3273457 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94188 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;3711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34883 |
| Linde PLC | &nbsp;&nbsp;56538 | 18441565 |
| Livent Corp. (A) | &nbsp;&nbsp;25930 | &nbsp;&nbsp;&nbsp;&nbsp;515229 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;10614 | &nbsp;&nbsp;&nbsp;&nbsp;141166 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp;29265 | &nbsp;&nbsp;&nbsp;2429873 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;8637 | &nbsp;&nbsp;&nbsp;&nbsp;180513 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;5125 | &nbsp;&nbsp;&nbsp;&nbsp;311190 |
| Mitsubishi Chemical Group Corp. | 195259 | &nbsp;&nbsp;&nbsp;1010859 |
| Mitsui Chemicals, Inc. | &nbsp;&nbsp;28118 | &nbsp;&nbsp;&nbsp;&nbsp;631553 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;497776 |
| Nippon Paint Holdings Company, Ltd. | 126500 | &nbsp;&nbsp;&nbsp;&nbsp;993543 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp;26457 | &nbsp;&nbsp;&nbsp;&nbsp;383240 |
| Nissan Chemical Corp. | &nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp;845980 |
| Nitto Denko Corp. | &nbsp;&nbsp;21687 | &nbsp;&nbsp;&nbsp;1249056 |
| Novozymes A/S, B Shares | &nbsp;&nbsp;31195 | &nbsp;&nbsp;&nbsp;1582637 |
| OCI NV | &nbsp;&nbsp;16069 | &nbsp;&nbsp;&nbsp;&nbsp;574506 |
| Olin Corp. | &nbsp;&nbsp;29914 | &nbsp;&nbsp;&nbsp;1583647 |
| Orica, Ltd. | &nbsp;&nbsp;68550 | &nbsp;&nbsp;&nbsp;&nbsp;700883 |
| Origin Materials, Inc. (A) | &nbsp;&nbsp;17079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78734 |
| Orion Engineered Carbons SA | &nbsp;&nbsp;&nbsp;9726 | &nbsp;&nbsp;&nbsp;&nbsp;173220 |
| Perimeter Solutions SA (A) | &nbsp;&nbsp;19777 | &nbsp;&nbsp;&nbsp;&nbsp;180762 |
| PPG Industries, Inc. | &nbsp;&nbsp;26599 | &nbsp;&nbsp;&nbsp;3344558 |
| PureCycle Technologies, Inc. (A)(C) | &nbsp;&nbsp;17212 | &nbsp;&nbsp;&nbsp;&nbsp;116353 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp;363341 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;10249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98390 |
| RPM International, Inc. | &nbsp;&nbsp;30319 | &nbsp;&nbsp;&nbsp;2954587 |
| Sensient Technologies Corp. | &nbsp;&nbsp;16555 | &nbsp;&nbsp;&nbsp;1207191 |
| Shin-Etsu Chemical Company, Ltd. | &nbsp;&nbsp;57146 | &nbsp;&nbsp;&nbsp;6978222 |
| Sika AG | &nbsp;&nbsp;22275 | &nbsp;&nbsp;&nbsp;5354982 |
| Solvay SA | &nbsp;&nbsp;11304 | &nbsp;&nbsp;&nbsp;1142902 |
| Stepan Company | &nbsp;&nbsp;&nbsp;3338 | &nbsp;&nbsp;&nbsp;&nbsp;355363 |
| Sumitomo Chemical Company, Ltd. | 227244 | &nbsp;&nbsp;&nbsp;&nbsp;814811 |
| Symrise AG | &nbsp;&nbsp;20252 | &nbsp;&nbsp;&nbsp;2199468 |
| The Chemours Company | &nbsp;&nbsp;35443 | &nbsp;&nbsp;&nbsp;1085265 |
| The Mosaic Company | &nbsp;&nbsp;39186 | &nbsp;&nbsp;&nbsp;1719090 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;&nbsp;9499 | &nbsp;&nbsp;&nbsp;&nbsp;461556 |
| The Sherwin-Williams Company | &nbsp;&nbsp;26720 | &nbsp;&nbsp;&nbsp;6341458 |
| Toray Industries, Inc. | 211472 | &nbsp;&nbsp;&nbsp;1176074 |
| Tosoh Corp. | &nbsp;&nbsp;39700 | &nbsp;&nbsp;&nbsp;&nbsp;472098 |
| Tredegar Corp. | &nbsp;&nbsp;&nbsp;4631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47329 |
| Trinseo PLC | &nbsp;&nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp;128516 |
| Tronox Holdings PLC | &nbsp;&nbsp;18756 | &nbsp;&nbsp;&nbsp;&nbsp;257145 |
| Umicore SA | &nbsp;&nbsp;31944 | &nbsp;&nbsp;&nbsp;1174893 |
| Valvoline, Inc. | &nbsp;&nbsp;41573 | &nbsp;&nbsp;&nbsp;1357358 |
| Westlake Corp. | &nbsp;&nbsp;&nbsp;8087 | &nbsp;&nbsp;&nbsp;&nbsp;829241 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| Yara International ASA | &nbsp;&nbsp;&nbsp;&nbsp;25253 | $&nbsp;&nbsp;&nbsp;&nbsp;1109035 |
|  |  | 155405418 |
| **Construction materials – 0.3%** | **Construction materials – 0.3%** |  |
| CRH PLC | &nbsp;&nbsp;115152 | &nbsp;&nbsp;&nbsp;&nbsp;4579611 |
| Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8653 | &nbsp;&nbsp;&nbsp;&nbsp;1149551 |
| HeidelbergCement AG | &nbsp;&nbsp;&nbsp;&nbsp;22088 | &nbsp;&nbsp;&nbsp;&nbsp;1251616 |
| Holcim, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;84547 | &nbsp;&nbsp;&nbsp;&nbsp;4376429 |
| James Hardie Industries PLC, CHESS Depositary Interest | &nbsp;&nbsp;&nbsp;&nbsp;67971 | &nbsp;&nbsp;&nbsp;&nbsp;1223361 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7161 | &nbsp;&nbsp;&nbsp;&nbsp;2420203 |
| Summit Materials, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;19144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543502 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44621 |
| Vulcan Materials Company | &nbsp;&nbsp;&nbsp;&nbsp;15006 | &nbsp;&nbsp;&nbsp;&nbsp;2627701 |
|  |  | &nbsp;&nbsp;&nbsp;18216595 |
| **Containers and packaging – 0.3%** | **Containers and packaging – 0.3%** |  |
| Amcor PLC | &nbsp;&nbsp;167573 | &nbsp;&nbsp;&nbsp;&nbsp;1995794 |
| AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15332 | &nbsp;&nbsp;&nbsp;&nbsp;1686213 |
| Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp;1701400 |
| Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36134 | &nbsp;&nbsp;&nbsp;&nbsp;1847893 |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;9873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662083 |
| Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69390 |
| International Paper Company | &nbsp;&nbsp;&nbsp;&nbsp;40293 | &nbsp;&nbsp;&nbsp;&nbsp;1395347 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130579 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;24707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409395 |
| Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;10911 | &nbsp;&nbsp;&nbsp;&nbsp;1395626 |
| Pactiv Evergreen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81167 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47158 |
| Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788154 |
| SIG Group AG (A) | &nbsp;&nbsp;&nbsp;&nbsp;46643 | &nbsp;&nbsp;&nbsp;&nbsp;1019204 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19647 | &nbsp;&nbsp;&nbsp;&nbsp;1018500 |
| Smurfit Kappa Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;37703 | &nbsp;&nbsp;&nbsp;&nbsp;1397285 |
| Sonoco Products Company | &nbsp;&nbsp;&nbsp;&nbsp;22901 | &nbsp;&nbsp;&nbsp;&nbsp;1390320 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188909 |
| Westrock Company | &nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991512 |
|  |  | &nbsp;&nbsp;&nbsp;18215929 |
| **Metals and mining – 1.7%** | **Metals and mining – 1.7%** |  |
| 1911 Gold Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 |
| 5E Advanced Materials, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;5471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43111 |
| Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41554 | &nbsp;&nbsp;&nbsp;&nbsp;1889460 |
| Alpha Metallurgical Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354557 |
| Anglo American PLC | &nbsp;&nbsp;193806 | &nbsp;&nbsp;&nbsp;&nbsp;7589418 |
| Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;60145 | &nbsp;&nbsp;&nbsp;&nbsp;1122763 |
| ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;80330 | &nbsp;&nbsp;&nbsp;&nbsp;2119277 |
| Arconic Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;16432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347701 |
| ATI, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;19830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592124 |
| BHP Group, Ltd. | &nbsp;&nbsp;772637 | &nbsp;&nbsp;&nbsp;23933931 |
| BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;71776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818047 |
| Boliden AB | &nbsp;&nbsp;&nbsp;&nbsp;41716 | &nbsp;&nbsp;&nbsp;&nbsp;1566944 |
| Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;7677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283588 |
| Century Aluminum Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;8691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71092 |
| Cleveland-Cliffs, Inc. (A) | &nbsp;&nbsp;121018 | &nbsp;&nbsp;&nbsp;&nbsp;1949600 |
| Coeur Mining, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;45297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152198 |
| Commercial Metals Company | &nbsp;&nbsp;&nbsp;&nbsp;46140 | &nbsp;&nbsp;&nbsp;&nbsp;2228562 |
| Compass Minerals International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226279 |
| Constellium SE (A) | &nbsp;&nbsp;&nbsp;&nbsp;20395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241273 |
| Dakota Gold Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;9079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27691 |
| Ferroglobe PLC (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;15626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Fortescue Metals Group, Ltd. | &nbsp;&nbsp;258281 | &nbsp;&nbsp;&nbsp;&nbsp;3610033 |
| Freeport-McMoRan, Inc. | &nbsp;&nbsp;161274 | &nbsp;&nbsp;&nbsp;&nbsp;6128412 |
| Glencore PLC | 1490046 | &nbsp;&nbsp;&nbsp;&nbsp;9936586 |
| Haynes International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90969 |
| Hecla Mining Company | &nbsp;&nbsp;&nbsp;&nbsp;89150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495674 |
| IGO, Ltd. | &nbsp;&nbsp;103948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950849 |
| Ivanhoe Electric, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30618 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 161 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Metals and mining (continued)** | **Metals and mining (continued)** |  |
| JFE Holdings, Inc. | &nbsp;&nbsp;74933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869485 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;2555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194078 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;3246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284057 |
| Mineral Resources, Ltd. | &nbsp;&nbsp;25999 | &nbsp;&nbsp;&nbsp;&nbsp;1363815 |
| MP Materials Corp. (A) | &nbsp;&nbsp;21682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526439 |
| Newcrest Mining, Ltd. | 136219 | &nbsp;&nbsp;&nbsp;&nbsp;1910105 |
| Newmont Corp. | &nbsp;&nbsp;89601 | &nbsp;&nbsp;&nbsp;&nbsp;4229167 |
| Nippon Steel Corp. | 123200 | &nbsp;&nbsp;&nbsp;&nbsp;2137659 |
| Norsk Hydro ASA | 205117 | &nbsp;&nbsp;&nbsp;&nbsp;1532709 |
| Northern Star Resources, Ltd. | 177704 | &nbsp;&nbsp;&nbsp;&nbsp;1329815 |
| Novagold Resources, Inc. (A) | &nbsp;&nbsp;39376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235468 |
| Nucor Corp. | &nbsp;&nbsp;29478 | &nbsp;&nbsp;&nbsp;&nbsp;3885495 |
| Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54803 |
| Pan American Silver Corp., CVR (A) | &nbsp;&nbsp;54671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31217 |
| Piedmont Lithium, Inc. (A) | &nbsp;&nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122244 |
| Pilbara Minerals, Ltd. (A) | 386945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979841 |
| Ramaco Resources, Inc. | &nbsp;&nbsp;&nbsp;3710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32611 |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;13784 | &nbsp;&nbsp;&nbsp;&nbsp;2790433 |
| Rio Tinto PLC | 171500 | &nbsp;&nbsp;&nbsp;12070856 |
| Rio Tinto, Ltd. | &nbsp;&nbsp;56618 | &nbsp;&nbsp;&nbsp;&nbsp;4468609 |
| Royal Gold, Inc. | &nbsp;&nbsp;15416 | &nbsp;&nbsp;&nbsp;&nbsp;1737692 |
| Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;3086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93382 |
| Schnitzer Steel Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;4159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127473 |
| South32, Ltd. | 705929 | &nbsp;&nbsp;&nbsp;&nbsp;1935395 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;19198 | &nbsp;&nbsp;&nbsp;&nbsp;1875645 |
| Sumitomo Metal Mining Company, Ltd. | &nbsp;&nbsp;37707 | &nbsp;&nbsp;&nbsp;&nbsp;1324980 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;13436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115953 |
| TimkenSteel Corp. (A) | &nbsp;&nbsp;&nbsp;7181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130479 |
| U.S. Steel Corp. | &nbsp;&nbsp;55018 | &nbsp;&nbsp;&nbsp;&nbsp;1378201 |
| voestalpine AG | &nbsp;&nbsp;17701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468884 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;8063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279302 |
| Worthington Industries, Inc. | &nbsp;&nbsp;12144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603678 |
|  |  | 115921084 |
| **Paper and forest products – 0.1%** | **Paper and forest products – 0.1%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;&nbsp;2705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102276 |
| Glatfelter Corp. | &nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23352 |
| Holmen AB, B Shares | &nbsp;&nbsp;14308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568671 |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;16838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996810 |
| Mondi PLC | &nbsp;&nbsp;74057 | &nbsp;&nbsp;&nbsp;&nbsp;1252371 |
| Oji Holdings Corp. | 123738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499776 |
| Resolute Forest Products, Inc. (A) | &nbsp;&nbsp;&nbsp;7217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155815 |
| Stora Enso OYJ, R Shares | &nbsp;&nbsp;84060 | &nbsp;&nbsp;&nbsp;&nbsp;1185204 |
| Svenska Cellulosa AB SCA, B Shares | &nbsp;&nbsp;92408 | &nbsp;&nbsp;&nbsp;&nbsp;1170316 |
| Sylvamo Corp. | &nbsp;&nbsp;&nbsp;5632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273659 |
| UPM-Kymmene OYJ | &nbsp;&nbsp;81405 | &nbsp;&nbsp;&nbsp;&nbsp;3046285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9274535 |
|  |  | 317033561 |
| **Real estate – 3.2%** |  |  |
| **Equity real estate investment trusts – 2.6%** | **Equity real estate investment trusts – 2.6%** |  |
| Acadia Realty Trust | &nbsp;&nbsp;15131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217130 |
| Agree Realty Corp. | &nbsp;&nbsp;12449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883008 |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp;11704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219216 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71740 |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;16973 | &nbsp;&nbsp;&nbsp;&nbsp;2472457 |
| American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;7914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209721 |
| American Tower Corp. | &nbsp;&nbsp;52858 | &nbsp;&nbsp;&nbsp;11198496 |
| Apartment Income REIT Corp. | &nbsp;&nbsp;35210 | &nbsp;&nbsp;&nbsp;&nbsp;1208055 |
| Apartment Investment and Management Company, Class A | &nbsp;&nbsp;23922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170325 |
| Apple Hospitality REIT, Inc. | &nbsp;&nbsp;34257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540575 |
| Armada Hoffler Properties, Inc. | &nbsp;&nbsp;10868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124982 |
| Ashford Hospitality Trust, Inc. (A) | &nbsp;&nbsp;&nbsp;5964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26659 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;15721 | &nbsp;&nbsp;&nbsp;&nbsp;2539256 |
| Boston Properties, Inc. | &nbsp;&nbsp;16576 | &nbsp;&nbsp;&nbsp;&nbsp;1120206 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Braemar Hotels & Resorts, Inc. | &nbsp;&nbsp;11940 | $&nbsp;&nbsp;&nbsp;&nbsp;49073 |
| Brandywine Realty Trust | &nbsp;&nbsp;27661 | &nbsp;&nbsp;&nbsp;&nbsp;170115 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;70434 | 1596739 |
| Broadstone Net Lease, Inc. | &nbsp;&nbsp;26720 | &nbsp;&nbsp;&nbsp;&nbsp;433131 |
| BRT Apartments Corp. | &nbsp;&nbsp;&nbsp;1989 | &nbsp;&nbsp;&nbsp;&nbsp;39064 |
| Camden Property Trust | &nbsp;&nbsp;12170 | 1361580 |
| CapitaLand Ascendas REIT | 512578 | 1049795 |
| CapitaLand Integrated Commercial Trust | 809230 | 1234247 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;15426 | &nbsp;&nbsp;&nbsp;&nbsp;286615 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;4340 | &nbsp;&nbsp;&nbsp;&nbsp;100167 |
| Centerspace | &nbsp;&nbsp;&nbsp;2481 | &nbsp;&nbsp;&nbsp;&nbsp;145560 |
| Chatham Lodging Trust | &nbsp;&nbsp;&nbsp;7960 | &nbsp;&nbsp;&nbsp;&nbsp;97669 |
| City Office REIT, Inc. | &nbsp;&nbsp;&nbsp;6326 | &nbsp;&nbsp;&nbsp;&nbsp;53012 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;3771 | &nbsp;&nbsp;&nbsp;&nbsp;135002 |
| Corporate Office Properties Trust | &nbsp;&nbsp;44278 | 1148571 |
| Cousins Properties, Inc. | &nbsp;&nbsp;35564 | &nbsp;&nbsp;&nbsp;&nbsp;899414 |
| Covivio | &nbsp;&nbsp;&nbsp;7224 | &nbsp;&nbsp;&nbsp;&nbsp;428806 |
| Crown Castle, Inc. | &nbsp;&nbsp;49002 | 6646631 |
| CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;54127 |
| CubeSmart | &nbsp;&nbsp;52741 | 2122825 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;749165 |
| Dexus | 164047 | &nbsp;&nbsp;&nbsp;&nbsp;861257 |
| DiamondRock Hospitality Company | &nbsp;&nbsp;33707 | &nbsp;&nbsp;&nbsp;&nbsp;276060 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;32857 | 3294571 |
| Diversified Healthcare Trust | &nbsp;&nbsp;42769 | &nbsp;&nbsp;&nbsp;&nbsp;27663 |
| Douglas Emmett, Inc. | &nbsp;&nbsp;41284 | &nbsp;&nbsp;&nbsp;&nbsp;647333 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp;14373 | &nbsp;&nbsp;&nbsp;&nbsp;205103 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;10233 | 1515098 |
| Elme Communities | &nbsp;&nbsp;14054 | &nbsp;&nbsp;&nbsp;&nbsp;250161 |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;21836 | &nbsp;&nbsp;&nbsp;&nbsp;147175 |
| EPR Properties | &nbsp;&nbsp;17619 | &nbsp;&nbsp;&nbsp;&nbsp;664589 |
| Equinix, Inc. | &nbsp;&nbsp;10301 | 6747464 |
| Equity Commonwealth | &nbsp;&nbsp;16696 | &nbsp;&nbsp;&nbsp;&nbsp;416899 |
| Equity Residential | &nbsp;&nbsp;38284 | 2258756 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;22438 | &nbsp;&nbsp;&nbsp;&nbsp;526620 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;7472 | 1583466 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;15335 | 2257005 |
| Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;7708 | &nbsp;&nbsp;&nbsp;&nbsp;96042 |
| Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;8251 | &nbsp;&nbsp;&nbsp;&nbsp;833681 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;31032 | 1497604 |
| Four Corners Property Trust, Inc. | &nbsp;&nbsp;12843 | &nbsp;&nbsp;&nbsp;&nbsp;333019 |
| Franklin Street Properties Corp. | &nbsp;&nbsp;16903 | &nbsp;&nbsp;&nbsp;&nbsp;46145 |
| Gecina SA | &nbsp;&nbsp;&nbsp;7008 | &nbsp;&nbsp;&nbsp;&nbsp;713975 |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;223816 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;6472 | &nbsp;&nbsp;&nbsp;&nbsp;119732 |
| Gladstone Land Corp. | &nbsp;&nbsp;&nbsp;5249 | &nbsp;&nbsp;&nbsp;&nbsp;96319 |
| Global Medical REIT, Inc. | &nbsp;&nbsp;10204 | &nbsp;&nbsp;&nbsp;&nbsp;96734 |
| Global Net Lease, Inc. | &nbsp;&nbsp;16779 | &nbsp;&nbsp;&nbsp;&nbsp;210912 |
| GLP J-REIT | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;749742 |
| Goodman Group | 258127 | 3035665 |
| Healthcare Realty Trust, Inc. | &nbsp;&nbsp;89377 | 1722295 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;61292 | 1536590 |
| Hersha Hospitality Trust, Class A | &nbsp;&nbsp;&nbsp;5389 | &nbsp;&nbsp;&nbsp;&nbsp;45914 |
| Highwoods Properties, Inc. | &nbsp;&nbsp;24706 | &nbsp;&nbsp;&nbsp;&nbsp;691274 |
| Host Hotels & Resorts, Inc. | &nbsp;&nbsp;79164 | 1270582 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;88007 | 1483798 |
| Indus Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;943 | &nbsp;&nbsp;&nbsp;&nbsp;59871 |
| Industrial Logistics Properties Trust | &nbsp;&nbsp;12024 | &nbsp;&nbsp;&nbsp;&nbsp;39318 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;4447 | &nbsp;&nbsp;&nbsp;&nbsp;450703 |
| InvenTrust Properties Corp. | &nbsp;&nbsp;10717 | &nbsp;&nbsp;&nbsp;&nbsp;253671 |
| Invitation Homes, Inc. | &nbsp;&nbsp;65579 | 1943762 |
| Iron Mountain, Inc. | &nbsp;&nbsp;32381 | 1614193 |
| iStar, Inc. | &nbsp;&nbsp;11179 | &nbsp;&nbsp;&nbsp;&nbsp;85296 |
| Japan Metropolitan Fund Investment Corp. | &nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;848017 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;834535 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 162 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| JBG SMITH Properties | &nbsp;&nbsp;23249 | $&nbsp;&nbsp;&nbsp;&nbsp;441266 |
| Kilroy Realty Corp. | &nbsp;&nbsp;24704 | &nbsp;&nbsp;&nbsp;&nbsp;955304 |
| Kimco Realty Corp. | &nbsp;&nbsp;68301 | &nbsp;&nbsp;&nbsp;1446615 |
| Kite Realty Group Trust | &nbsp;&nbsp;86284 | &nbsp;&nbsp;&nbsp;1816278 |
| Klepierre SA (A) | &nbsp;&nbsp;32814 | &nbsp;&nbsp;&nbsp;&nbsp;757367 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;20494 | &nbsp;&nbsp;&nbsp;1934634 |
| Land Securities Group PLC | 107881 | &nbsp;&nbsp;&nbsp;&nbsp;805996 |
| Life Storage, Inc. | &nbsp;&nbsp;19962 | &nbsp;&nbsp;&nbsp;1966257 |
| Link REIT | 322106 | &nbsp;&nbsp;&nbsp;2356957 |
| LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;6274 | &nbsp;&nbsp;&nbsp;&nbsp;222915 |
| LXP Industrial Trust | &nbsp;&nbsp;44127 | &nbsp;&nbsp;&nbsp;&nbsp;442153 |
| Mapletree Logistics Trust | 512800 | &nbsp;&nbsp;&nbsp;&nbsp;609774 |
| Mapletree Pan Asia Commercial Trust | 359200 | &nbsp;&nbsp;&nbsp;&nbsp;448799 |
| Medical Properties Trust, Inc. | 140439 | &nbsp;&nbsp;&nbsp;1564490 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;13231 | &nbsp;&nbsp;&nbsp;2077135 |
| Mirvac Group | 601826 | &nbsp;&nbsp;&nbsp;&nbsp;870675 |
| National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;6731 | &nbsp;&nbsp;&nbsp;&nbsp;351493 |
| National Retail Properties, Inc. | &nbsp;&nbsp;41975 | &nbsp;&nbsp;&nbsp;1920776 |
| National Storage Affiliates Trust | &nbsp;&nbsp;19846 | &nbsp;&nbsp;&nbsp;&nbsp;716838 |
| Necessity Retail REIT, Inc. | &nbsp;&nbsp;22115 | &nbsp;&nbsp;&nbsp;&nbsp;131142 |
| NETSTREIT Corp. | &nbsp;&nbsp;&nbsp;9698 | &nbsp;&nbsp;&nbsp;&nbsp;177764 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp;159718 |
| Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;1041932 |
| Nippon Prologis REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;764331 |
| Nomura Real Estate Master Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp;801563 |
| Office Properties Income Trust | &nbsp;&nbsp;&nbsp;8189 | &nbsp;&nbsp;&nbsp;&nbsp;109323 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;54997 | &nbsp;&nbsp;&nbsp;1537166 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;2861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63571 |
| Orion Office REIT, Inc. | &nbsp;&nbsp;&nbsp;9739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83171 |
| Outfront Media, Inc. | &nbsp;&nbsp;23479 | &nbsp;&nbsp;&nbsp;&nbsp;389282 |
| Paramount Group, Inc. | &nbsp;&nbsp;31239 | &nbsp;&nbsp;&nbsp;&nbsp;185560 |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp;52805 | &nbsp;&nbsp;&nbsp;&nbsp;622571 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;51810 | &nbsp;&nbsp;&nbsp;&nbsp;693736 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;18577 | &nbsp;&nbsp;&nbsp;&nbsp;591492 |
| Physicians Realty Trust | &nbsp;&nbsp;89262 | &nbsp;&nbsp;&nbsp;1291621 |
| Piedmont Office Realty Trust, Inc., Class A | &nbsp;&nbsp;19898 | &nbsp;&nbsp;&nbsp;&nbsp;182465 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp;6115 | &nbsp;&nbsp;&nbsp;&nbsp;117286 |
| Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44447 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;31622 | &nbsp;&nbsp;&nbsp;1391052 |
| Prologis, Inc. | 104465 | 11776339 |
| Public Storage | &nbsp;&nbsp;17902 | &nbsp;&nbsp;&nbsp;5015961 |
| Rayonier, Inc. | &nbsp;&nbsp;34388 | &nbsp;&nbsp;&nbsp;1133428 |
| Realty Income Corp. | &nbsp;&nbsp;69982 | &nbsp;&nbsp;&nbsp;4438958 |
| Regency Centers Corp. | &nbsp;&nbsp;17969 | &nbsp;&nbsp;&nbsp;1123063 |
| Retail Opportunity Investments Corp. | &nbsp;&nbsp;19429 | &nbsp;&nbsp;&nbsp;&nbsp;292018 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;43093 | &nbsp;&nbsp;&nbsp;2354602 |
| RLJ Lodging Trust | &nbsp;&nbsp;25864 | &nbsp;&nbsp;&nbsp;&nbsp;273900 |
| RPT Realty | &nbsp;&nbsp;13912 | &nbsp;&nbsp;&nbsp;&nbsp;139676 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;8604 | &nbsp;&nbsp;&nbsp;&nbsp;703635 |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp;91139 | &nbsp;&nbsp;&nbsp;1132858 |
| Safehold, Inc. | &nbsp;&nbsp;&nbsp;4409 | &nbsp;&nbsp;&nbsp;&nbsp;126186 |
| Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;1944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79082 |
| SBA Communications Corp. | &nbsp;&nbsp;12208 | &nbsp;&nbsp;&nbsp;3422024 |
| Scentre Group | 791636 | &nbsp;&nbsp;&nbsp;1540966 |
| Segro PLC | 184411 | &nbsp;&nbsp;&nbsp;1698842 |
| Service Properties Trust | &nbsp;&nbsp;26755 | &nbsp;&nbsp;&nbsp;&nbsp;195044 |
| Simon Property Group, Inc. | &nbsp;&nbsp;37073 | &nbsp;&nbsp;&nbsp;4355336 |
| SITE Centers Corp. | &nbsp;&nbsp;31217 | &nbsp;&nbsp;&nbsp;&nbsp;426424 |
| SL Green Realty Corp. | &nbsp;&nbsp;15105 | &nbsp;&nbsp;&nbsp;&nbsp;509341 |
| Spirit Realty Capital, Inc. | &nbsp;&nbsp;32799 | &nbsp;&nbsp;&nbsp;1309664 |
| STAG Industrial, Inc. | &nbsp;&nbsp;28769 | &nbsp;&nbsp;&nbsp;&nbsp;929526 |
| Stockland | 364098 | &nbsp;&nbsp;&nbsp;&nbsp;896722 |
| STORE Capital Corp. | &nbsp;&nbsp;62405 | &nbsp;&nbsp;&nbsp;2000704 |
| Summit Hotel Properties, Inc. | &nbsp;&nbsp;17202 | &nbsp;&nbsp;&nbsp;&nbsp;124198 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;33905 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327522 |
| Tanger Factory Outlet Centers, Inc. | &nbsp;&nbsp;16213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290861 |
| Terreno Realty Corp. | &nbsp;&nbsp;11824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672431 |
| The British Land Company PLC | 134318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637709 |
| The GPT Group | 292169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833269 |
| The Macerich Company | &nbsp;&nbsp;85143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958710 |
| UDR, Inc. | &nbsp;&nbsp;34541 | &nbsp;&nbsp;&nbsp;&nbsp;1337773 |
| UMH Properties, Inc. | &nbsp;&nbsp;&nbsp;7989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128623 |
| Unibail-Rodamco-Westfield (A) | &nbsp;&nbsp;17989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940396 |
| Uniti Group, Inc. | &nbsp;&nbsp;38415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212435 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;2084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99469 |
| Urban Edge Properties | &nbsp;&nbsp;18268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257396 |
| Urstadt Biddle Properties, Inc., Class A | &nbsp;&nbsp;&nbsp;4893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92722 |
| Ventas, Inc. | &nbsp;&nbsp;45946 | &nbsp;&nbsp;&nbsp;&nbsp;2069867 |
| Veris Residential, Inc. (A) | &nbsp;&nbsp;13953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222271 |
| VICI Properties, Inc. | 109105 | &nbsp;&nbsp;&nbsp;&nbsp;3535002 |
| Vicinity, Ltd. | 590171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796906 |
| Vornado Realty Trust | &nbsp;&nbsp;18541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385838 |
| Warehouses De Pauw CVA | &nbsp;&nbsp;24634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705684 |
| Welltower, Inc. | &nbsp;&nbsp;52491 | &nbsp;&nbsp;&nbsp;&nbsp;3440785 |
| Weyerhaeuser Company | &nbsp;&nbsp;84008 | &nbsp;&nbsp;&nbsp;&nbsp;2604248 |
| Whitestone REIT | &nbsp;&nbsp;&nbsp;7812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75308 |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;18388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242354 |
|  |  | 181366550 |
| **Real estate management and development – 0.6%** | **Real estate management and development – 0.6%** |  |
| Anywhere Real Estate, Inc. (A) | &nbsp;&nbsp;17730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113295 |
| Aroundtown SA | 152379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354954 |
| Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;6473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431673 |
| CapitaLand Investment, Ltd. | 396784 | &nbsp;&nbsp;&nbsp;&nbsp;1096589 |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;36084 | &nbsp;&nbsp;&nbsp;&nbsp;2777025 |
| City Developments, Ltd. | &nbsp;&nbsp;62413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383673 |
| CK Asset Holdings, Ltd. | 305062 | &nbsp;&nbsp;&nbsp;&nbsp;1870998 |
| Compass, Inc., Class A (A) | &nbsp;&nbsp;45089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105057 |
| Cushman & Wakefield PLC (A) | &nbsp;&nbsp;25590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318851 |
| Daito Trust Construction Company, Ltd. | &nbsp;&nbsp;&nbsp;9411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963524 |
| Daiwa House Industry Company, Ltd. | &nbsp;&nbsp;91466 | &nbsp;&nbsp;&nbsp;&nbsp;2107033 |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;26210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286737 |
| Douglas Elliman, Inc. | &nbsp;&nbsp;12765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51954 |
| ESR Group, Ltd. (B) | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637616 |
| eXp World Holdings, Inc. | &nbsp;&nbsp;11328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125514 |
| Fastighets AB Balder, B Shares (A) | &nbsp;&nbsp;96234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449151 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43749 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58384 |
| Hang Lung Properties, Ltd. | 308313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600597 |
| Henderson Land Development Company, Ltd. | 221709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771814 |
| Hongkong Land Holdings, Ltd. | 170534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784595 |
| Hulic Company, Ltd. | &nbsp;&nbsp;58569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459916 |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;11147 | &nbsp;&nbsp;&nbsp;&nbsp;1776497 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;19055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299735 |
| LEG Immobilien SE | &nbsp;&nbsp;11303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737167 |
| Lendlease Corp., Ltd. | 105070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557720 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;4084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140694 |
| Mitsubishi Estate Company, Ltd. | 180424 | &nbsp;&nbsp;&nbsp;&nbsp;2337136 |
| Mitsui Fudosan Company, Ltd. | 138226 | &nbsp;&nbsp;&nbsp;&nbsp;2526352 |
| New World Development Company, Ltd. | 230392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646290 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;22672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180696 |
| Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;18163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388375 |
| RE/MAX Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58343 |
| Redfin Corp. (A) | &nbsp;&nbsp;17984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76252 |
| Sagax AB, Class B | &nbsp;&nbsp;29080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660706 |
| Sino Land Company, Ltd. | 529722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660714 |
| Stratus Properties, Inc. | &nbsp;&nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19811 |
| Sumitomo Realty & Development Company, Ltd. | &nbsp;&nbsp;47183 | &nbsp;&nbsp;&nbsp;&nbsp;1112005 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 163 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate management and development (continued)** | **Real estate management and development (continued)** |  |
| Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;220814 | $&nbsp;&nbsp;&nbsp;&nbsp;3016179 |
| Swire Pacific, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;76018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666365 |
| Swire Properties, Ltd. | &nbsp;&nbsp;178487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452089 |
| Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;&nbsp;11701 | &nbsp;&nbsp;&nbsp;&nbsp;1014158 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;3611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68031 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72235 |
| The St. Joe Company | &nbsp;&nbsp;&nbsp;&nbsp;5463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211145 |
| UOL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356319 |
| Vonovia SE | &nbsp;&nbsp;109245 | &nbsp;&nbsp;&nbsp;&nbsp;2573422 |
| Wharf Real Estate Investment Company, Ltd. | &nbsp;&nbsp;254346 | &nbsp;&nbsp;&nbsp;&nbsp;1481346 |
|  |  | &nbsp;&nbsp;&nbsp;36882481 |
|  |  | 218249031 |
| **Utilities – 3.2%** |  |  |
| **Electric utilities – 1.8%** | **Electric utilities – 1.8%** |  |
| Acciona SA | &nbsp;&nbsp;&nbsp;&nbsp;3765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692879 |
| ALLETE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22576 | &nbsp;&nbsp;&nbsp;&nbsp;1456378 |
| Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27981 | &nbsp;&nbsp;&nbsp;&nbsp;1544831 |
| American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58006 | &nbsp;&nbsp;&nbsp;&nbsp;5507670 |
| BKW AG | &nbsp;&nbsp;&nbsp;&nbsp;3221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440707 |
| Chubu Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98229 | &nbsp;&nbsp;&nbsp;&nbsp;1015735 |
| CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;95843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500112 |
| CLP Holdings, Ltd. | &nbsp;&nbsp;250334 | &nbsp;&nbsp;&nbsp;&nbsp;1823825 |
| Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37067 | &nbsp;&nbsp;&nbsp;&nbsp;3195546 |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87083 | &nbsp;&nbsp;&nbsp;&nbsp;8968678 |
| Edison International | &nbsp;&nbsp;&nbsp;&nbsp;43614 | &nbsp;&nbsp;&nbsp;&nbsp;2774723 |
| EDP - Energias de Portugal SA | &nbsp;&nbsp;423390 | &nbsp;&nbsp;&nbsp;&nbsp;2110517 |
| Electricite de France SA | &nbsp;&nbsp;&nbsp;&nbsp;88917 | &nbsp;&nbsp;&nbsp;&nbsp;1141547 |
| Elia Group SA/NV | &nbsp;&nbsp;&nbsp;&nbsp;5042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716784 |
| Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;48444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913001 |
| Enel SpA | 1240495 | &nbsp;&nbsp;&nbsp;&nbsp;6671558 |
| Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22804 | &nbsp;&nbsp;&nbsp;&nbsp;2565450 |
| Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25661 | &nbsp;&nbsp;&nbsp;&nbsp;1614847 |
| Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;39578 | &nbsp;&nbsp;&nbsp;&nbsp;3318220 |
| Exelon Corp. | &nbsp;&nbsp;112608 | &nbsp;&nbsp;&nbsp;&nbsp;4868044 |
| FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61536 | &nbsp;&nbsp;&nbsp;&nbsp;2580820 |
| Fortum OYJ | &nbsp;&nbsp;&nbsp;&nbsp;67741 | &nbsp;&nbsp;&nbsp;&nbsp;1128163 |
| Hawaiian Electric Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25709 | &nbsp;&nbsp;&nbsp;&nbsp;1075922 |
| HK Electric Investments, Ltd. | &nbsp;&nbsp;404500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267455 |
| Iberdrola SA | &nbsp;&nbsp;921827 | &nbsp;&nbsp;&nbsp;10760937 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11874 | &nbsp;&nbsp;&nbsp;&nbsp;1280611 |
| Mercury NZ, Ltd. | &nbsp;&nbsp;105396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372336 |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414093 |
| NextEra Energy, Inc. | &nbsp;&nbsp;222876 | &nbsp;&nbsp;&nbsp;18632434 |
| NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874382 |
| OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47018 | &nbsp;&nbsp;&nbsp;&nbsp;1859562 |
| Origin Energy, Ltd. | &nbsp;&nbsp;262754 | &nbsp;&nbsp;&nbsp;&nbsp;1375234 |
| Orsted A/S (B) | &nbsp;&nbsp;&nbsp;&nbsp;28852 | &nbsp;&nbsp;&nbsp;&nbsp;2608383 |
| Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385255 |
| PG&E Corp. (A) | &nbsp;&nbsp;191898 | &nbsp;&nbsp;&nbsp;&nbsp;3120261 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13156 | &nbsp;&nbsp;&nbsp;&nbsp;1000382 |
| PNM Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33666 | &nbsp;&nbsp;&nbsp;&nbsp;1642564 |
| Portland General Electric Company | &nbsp;&nbsp;&nbsp;&nbsp;35169 | &nbsp;&nbsp;&nbsp;&nbsp;1723281 |
| Power Assets Holdings, Ltd. | &nbsp;&nbsp;211736 | &nbsp;&nbsp;&nbsp;&nbsp;1157236 |
| PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82833 | &nbsp;&nbsp;&nbsp;&nbsp;2420380 |
| Red Electrica Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;61895 | &nbsp;&nbsp;&nbsp;&nbsp;1076240 |
| SSE PLC | &nbsp;&nbsp;162843 | &nbsp;&nbsp;&nbsp;&nbsp;3349182 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;214594 | &nbsp;&nbsp;&nbsp;&nbsp;1584818 |
| The Kansai Electric Power Company, Inc. | &nbsp;&nbsp;107424 | &nbsp;&nbsp;&nbsp;&nbsp;1043179 |
| The Southern Company | &nbsp;&nbsp;120120 | &nbsp;&nbsp;&nbsp;&nbsp;8577769 |
| Tokyo Electric Power Company Holdings, Inc. (A) | &nbsp;&nbsp;232828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838511 |
| Verbund AG | &nbsp;&nbsp;&nbsp;&nbsp;10386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873045 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electric utilities (continued)** | **Electric utilities (continued)** |  |
| Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62171 | $&nbsp;&nbsp;&nbsp;&nbsp;4358809 |
|  |  | 128222296 |
| **Gas utilities – 0.3%** | **Gas utilities – 0.3%** |  |
| APA Group | &nbsp;&nbsp;179956 | &nbsp;&nbsp;&nbsp;&nbsp;1315371 |
| Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15793 | &nbsp;&nbsp;&nbsp;&nbsp;1769922 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610030 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330549 |
| Enagas SA | &nbsp;&nbsp;&nbsp;&nbsp;37962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631251 |
| Hong Kong & China Gas Company, Ltd. | 1708022 | &nbsp;&nbsp;&nbsp;&nbsp;1619901 |
| National Fuel Gas Company | &nbsp;&nbsp;&nbsp;&nbsp;21483 | &nbsp;&nbsp;&nbsp;&nbsp;1359874 |
| Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp;&nbsp;22182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576488 |
| New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37992 | &nbsp;&nbsp;&nbsp;&nbsp;1885163 |
| Northwest Natural Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;5566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264886 |
| ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21295 | &nbsp;&nbsp;&nbsp;&nbsp;1612457 |
| Osaka Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;57175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921266 |
| Snam SpA | &nbsp;&nbsp;307560 | &nbsp;&nbsp;&nbsp;&nbsp;1491308 |
| South Jersey Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695251 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25149 | &nbsp;&nbsp;&nbsp;&nbsp;1556220 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20447 | &nbsp;&nbsp;&nbsp;&nbsp;1407980 |
| Tokyo Gas Company, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;59696 | &nbsp;&nbsp;&nbsp;&nbsp;1168836 |
| UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49173 | &nbsp;&nbsp;&nbsp;&nbsp;1822843 |
|  |  | &nbsp;&nbsp;&nbsp;21039596 |
| **Independent power and renewable electricity producers –<br> 0.2%** | **Independent power and renewable electricity producers –<br> 0.2%** |  |
| Altus Power, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;6869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44786 |
| Clearway Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190112 |
| Clearway Energy, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;12480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397738 |
| Corp ACCIONA Energias Renovables SA | &nbsp;&nbsp;&nbsp;&nbsp;10043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388067 |
| EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;&nbsp;43951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968484 |
| Meridian Energy, Ltd. | &nbsp;&nbsp;196568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653822 |
| Montauk Renewables, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;10352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114183 |
| Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18657 | &nbsp;&nbsp;&nbsp;&nbsp;1613457 |
| RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;97979 | &nbsp;&nbsp;&nbsp;&nbsp;4331425 |
| Sunnova Energy International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;15984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287872 |
| The AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74968 | &nbsp;&nbsp;&nbsp;&nbsp;2156080 |
|  |  | &nbsp;&nbsp;&nbsp;11146026 |
| **Multi-utilities – 0.8%** | **Multi-utilities – 0.8%** |  |
| Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29541 | &nbsp;&nbsp;&nbsp;&nbsp;2626786 |
| Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513369 |
| Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25648 | &nbsp;&nbsp;&nbsp;&nbsp;1804080 |
| CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71779 | &nbsp;&nbsp;&nbsp;&nbsp;2152652 |
| CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32696 | &nbsp;&nbsp;&nbsp;&nbsp;2070638 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40025 | &nbsp;&nbsp;&nbsp;&nbsp;3814783 |
| Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;94444 | &nbsp;&nbsp;&nbsp;&nbsp;5791306 |
| DTE Energy Company | &nbsp;&nbsp;&nbsp;&nbsp;22246 | &nbsp;&nbsp;&nbsp;&nbsp;2614572 |
| E.ON SE | &nbsp;&nbsp;342423 | &nbsp;&nbsp;&nbsp;&nbsp;3404368 |
| Engie SA | &nbsp;&nbsp;278572 | &nbsp;&nbsp;&nbsp;&nbsp;3985270 |
| National Grid PLC | &nbsp;&nbsp;558231 | &nbsp;&nbsp;&nbsp;&nbsp;6687246 |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45795 | &nbsp;&nbsp;&nbsp;&nbsp;1255699 |
| NorthWestern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22544 | &nbsp;&nbsp;&nbsp;&nbsp;1337761 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56473 | &nbsp;&nbsp;&nbsp;&nbsp;3460101 |
| Sempra Energy | &nbsp;&nbsp;&nbsp;&nbsp;35541 | &nbsp;&nbsp;&nbsp;&nbsp;5492506 |
| Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132663 |
| Veolia Environnement SA | &nbsp;&nbsp;101508 | &nbsp;&nbsp;&nbsp;&nbsp;2608188 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35605 | &nbsp;&nbsp;&nbsp;&nbsp;3338325 |
|  |  | &nbsp;&nbsp;&nbsp;53090313 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American States Water Company | &nbsp;&nbsp;&nbsp;&nbsp;5905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546508 |
| American Water Works Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20858 | &nbsp;&nbsp;&nbsp;&nbsp;3179176 |
| Artesian Resources Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86406 |
| California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;8724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529023 |
| Essential Utilities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56055 | &nbsp;&nbsp;&nbsp;&nbsp;2675505 |
| Middlesex Water Company | &nbsp;&nbsp;&nbsp;&nbsp;2821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221928 |
| Pure Cycle Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;3525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36942 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 164 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Equity Allocation Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Water utilities (continued)** | **Water utilities (continued)** |  |
| Severn Trent PLC | &nbsp;&nbsp;38352 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225274 |
| SJW Group | &nbsp;&nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355044 |
| The York Water Company | &nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112135 |
| United Utilities Group PLC | 104001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10210579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;223708810 |
| TOTAL COMMON STOCKS (Cost $3,989,760,507) | TOTAL COMMON STOCKS (Cost $3,989,760,507) | $6668354354 |
| **PREFERRED SECURITIES – 0.1%** |  |  |
| **Consumer discretionary – 0.1%** |  |  |
| **Automobiles – 0.1%** | **Automobiles – 0.1%** |  |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;9060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764584 |
| Dr. Ing. h.c. F. Porsche AG (A) | &nbsp;&nbsp;17368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752666 |
| Porsche Automobil Holding SE | &nbsp;&nbsp;23355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1273685 |
| Volkswagen AG | &nbsp;&nbsp;28305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3511224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7302159 |
| **Consumer staples – 0.0%** |  |  |
| **Household products – 0.0%** | **Household products – 0.0%** |  |
| Henkel AG & Company KGaA | &nbsp;&nbsp;27173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883434 |
| **Health care – 0.0%** |  |  |
| **Life sciences tools and services – 0.0%** | **Life sciences tools and services – 0.0%** |  |
| Sartorius AG | &nbsp;&nbsp;&nbsp;3712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465778 |
| TOTAL PREFERRED SECURITIES (Cost $10,919,590) | TOTAL PREFERRED SECURITIES (Cost $10,919,590) | $&nbsp;&nbsp;&nbsp;&nbsp;10651371 |
| **WARRANTS – 0.0%** |  |  |
| Chord Energy Corp. (Expiration Date: 9-1-24; Strike Price: $116.37) (A) | &nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18698 |
| Chord Energy Corp. (Expiration Date: 9-1-25; Strike Price: $133.70) (A) | &nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8331 |
| Cie Financiere Richemont SA (Expiration Date: 11-22-23; Strike Price: CHF 67.00) (A) | 200486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166954 |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15792 |
| Triumph Group, Inc. (Expiration Date: 12-19-23; Strike Price: $12.35) (A) | &nbsp;&nbsp;&nbsp;3165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 |
| TOTAL WARRANTS (Cost $15,655) | TOTAL WARRANTS (Cost $15,655) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211896 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 3.4%** | **SHORT-TERM INVESTMENTS – 3.4%** |  |
| **Short-term funds – 3.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | 23449033 | $&nbsp;&nbsp;&nbsp;&nbsp;234391847 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $234,352,801) | TOTAL SHORT-TERM INVESTMENTS (Cost $234,352,801) | $&nbsp;&nbsp;&nbsp;&nbsp;234391847 |
| **Total Investments (Strategic Equity Allocation Trust)<br> (Cost $4,235,048,553) – 100.1%** | **Total Investments (Strategic Equity Allocation Trust)<br> (Cost $4,235,048,553) – 100.1%** | $**6913609468** |
| **Other assets and liabilities, net – (0.1%)** | **Other assets and liabilities, net – (0.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(8296947)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**6905312521** |

---

<u>Currency Abbreviations</u> <br> CHF Swiss Franc

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 12-31-22. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $45,229,455. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| MSCI EAFE Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$90140612 | &nbsp;&nbsp;&nbsp;&nbsp;$88892640 | &nbsp;&nbsp;&nbsp;&nbsp;$(1247972) |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17115646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16557915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(557731) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;104268152 | &nbsp;&nbsp;&nbsp;&nbsp;100772100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3496052) |
| S&P Mid 400 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18525258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18075240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(450018) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(5751773)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 165 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS – 96.5%** | **COMMON STOCKS – 96.5%** |  |
| **Communication services – 6.8%** |  |  |
| **Diversified telecommunication services – 0.8%** | **Diversified telecommunication services – 0.8%** |  |
| Anterix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6756 |
| AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149073 |
| ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13185 |
| Bandwidth, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9891 |
| Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45892 |
| Consolidated Communications Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5914 |
| EchoStar Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11259 |
| Frontier Communications Parent, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96416 |
| Globalstar, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40242 |
| IDT Corp., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12986 |
| Iridium Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108403 |
| Lumen Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89565 |
| Ooma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6497 |
| Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305853 |
| **Entertainment – 1.2%** | **Entertainment – 1.2%** |  |
| Activision Blizzard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980988 |
| AMC Entertainment Holdings, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35328 |
| Cinemark Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17580 |
| CuriosityStream, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 |
| Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556530 |
| Endeavor Group Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106502 |
| Liberty Media Corp.-Liberty Braves, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27083 |
| Liberty Media Corp.-Liberty Formula One, Series A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12022 |
| Liberty Media Corp.-Liberty Formula One, Series C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209409 |
| Lions Gate Entertainment Corp., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22290 |
| Live Nation Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263338 |
| Madison Square Garden Entertainment Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21496 |
| Madison Square Garden Sports Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58666 |
| Netflix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2147906 |
| Reservoir Media, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4746 |
| ROBLOX Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256738 |
| Roku, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81766 |
| Sciplay Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7043 |
| Skillz, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3459 |
| Take-Two Interactive Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284379 |
| The Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6994 |
| The Walt Disney Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595366 |
| Warner Brothers Discovery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375692 |
| Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79565 |
| World Wrestling Entertainment, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48992 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8204825 |
| **Interactive media and services – 3.5%** | **Interactive media and services – 3.5%** |  |
| Alphabet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8664098 |
| Alphabet, Inc., Class C (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8957648 |
| Angi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4282 |
| Arena Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122 |
| Bumble, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43405 |
| BuzzFeed, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133 |
| CarGurus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24307 |
| Cars.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15891 |
| DHI Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968 |
| Eventbrite, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8561 |
| EverQuote, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7090 |

---

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Interactive media and services (continued)** | **Interactive media and services (continued)** |  |
| FaZe Holdings, Inc. (A) | &nbsp;&nbsp;1062 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965 |
| Getty Images Holdings, Inc. (A)(B) | &nbsp;&nbsp;6302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34976 |
| IAC, Inc. (A) | &nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61894 |
| Match Group, Inc. (A) | &nbsp;&nbsp;4647 | &nbsp;&nbsp;&nbsp;&nbsp;192804 |
| MediaAlpha, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7771 |
| Meta Platforms, Inc., Class A (A) | 37362 | &nbsp;&nbsp;&nbsp;4496143 |
| Nextdoor Holdings, Inc. (A) | &nbsp;&nbsp;3090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6365 |
| Outbrain, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266 |
| Pinterest, Inc., Class A (A) | &nbsp;&nbsp;9566 | &nbsp;&nbsp;&nbsp;&nbsp;232262 |
| QuinStreet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14106 |
| Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32423 |
| Snap, Inc., Class A (A) | 22935 | &nbsp;&nbsp;&nbsp;&nbsp;205268 |
| Society Pass, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347 |
| System1, Inc. (A) | &nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6468 |
| TripAdvisor, Inc. (A) | &nbsp;&nbsp;2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37650 |
| TrueCar, Inc. (A) | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4769 |
| Vimeo, Inc. (A) | &nbsp;&nbsp;2863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9820 |
| Yelp, Inc. (A) | &nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31632 |
| Ziff Davis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61698 |
| ZipRecruiter, Inc., Class A (A) | &nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23842 |
| ZoomInfo Technologies, Inc. (A) | &nbsp;&nbsp;6641 | &nbsp;&nbsp;&nbsp;&nbsp;199961 |
|  |  | 23394935 |
| **Media – 0.9%** | **Media – 0.9%** |  |
| AdTheorent Holding Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398 |
| Advantage Solutions, Inc. (A) | &nbsp;&nbsp;4745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9870 |
| Altice USA, Inc., Class A (A) | &nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19044 |
| AMC Networks, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 |
| Boston Omaha Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13992 |
| Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69762 |
| Cardlytics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231 |
| Charter Communications, Inc., Class A (A) | &nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp;893529 |
| Clear Channel Outdoor Holdings, Inc. (A) | &nbsp;&nbsp;8831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9273 |
| Comcast Corp., Class A | 72194 | &nbsp;&nbsp;&nbsp;2524624 |
| comScore, Inc. (A) | &nbsp;&nbsp;1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285 |
| DISH Network Corp., Class A (A) | &nbsp;&nbsp;4903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68838 |
| Emerald Holding, Inc. (A) | &nbsp;&nbsp;1284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545 |
| Entravision Communications Corp., Class A | &nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6048 |
| Fox Corp., Class A | &nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66784 |
| Fox Corp., Class B | &nbsp;&nbsp;6867 | &nbsp;&nbsp;&nbsp;&nbsp;195366 |
| Gannett Company, Inc. (A) | &nbsp;&nbsp;2798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5680 |
| Gray Television, Inc. | &nbsp;&nbsp;1517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16975 |
| iHeartMedia, Inc., Class A (A) | &nbsp;&nbsp;2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13210 |
| Innovid Corp. (A) | &nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244 |
| Integral Ad Science Holding Corp. (A) | &nbsp;&nbsp;2544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22362 |
| John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31768 |
| Liberty Broadband Corp., Series A (A) | &nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp;180220 |
| Liberty Media Corp.-Liberty SiriusXM, Series A | &nbsp;&nbsp;2669 | &nbsp;&nbsp;&nbsp;&nbsp;104918 |
| Liberty Media Corp.-Liberty SiriusXM, Series C (A) | &nbsp;&nbsp;2528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98921 |
| Loyalty Ventures, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 |
| Magnite, Inc. (A) | &nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22864 |
| News Corp., Class A | &nbsp;&nbsp;9021 | &nbsp;&nbsp;&nbsp;&nbsp;164182 |
| News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214 |
| Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;113069 |
| Omnicom Group, Inc. | &nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp;273586 |
| Paramount Global, Class B (B) | 10695 | &nbsp;&nbsp;&nbsp;&nbsp;180532 |
| PubMatic, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9710 |
| Saga Communications, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4130 |
| Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22137 |
| Sinclair Broadcast Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12935 |
| Sirius XM Holdings, Inc. (B) | 63975 | &nbsp;&nbsp;&nbsp;&nbsp;373614 |
| SRAX, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 |
| Stagwell, Inc. (A) | &nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11762 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 166 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Media (continued)** | **Media (continued)** |  |
| TechTarget, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;503 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22162 |
| TEGNA, Inc. | &nbsp;&nbsp;3707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78551 |
| The EW Scripps Company (A) | &nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17780 |
| The Interpublic Group of Companies, Inc. | &nbsp;&nbsp;6427 | &nbsp;&nbsp;&nbsp;&nbsp;214083 |
| The New York Times Company, Class A | &nbsp;&nbsp;2736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88811 |
| The Trade Desk, Inc., Class A (A) | &nbsp;&nbsp;7286 | &nbsp;&nbsp;&nbsp;&nbsp;326631 |
| Tremor International, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 |
| Urban One, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301 |
| Urban One, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 |
| WideOpenWest, Inc. (A) | &nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13255 |
|  |  | &nbsp;&nbsp;&nbsp;6328301 |
| **Wireless telecommunication services – 0.4%** | **Wireless telecommunication services – 0.4%** |  |
| Gogo, Inc. (A) | &nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29638 |
| KORE Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218 |
| Shenandoah Telecommunications Company | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14308 |
| Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3636 |
| Telephone & Data Systems, Inc. | &nbsp;&nbsp;1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19616 |
| T-Mobile US, Inc. (A) | 20553 | &nbsp;&nbsp;&nbsp;2877420 |
| United States Cellular Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20037 |
|  |  | &nbsp;&nbsp;&nbsp;2965873 |
|  |  | 46199787 |
| **Consumer discretionary – 9.8%** |  |  |
| **Auto components – 0.1%** | **Auto components – 0.1%** |  |
| American Axle & Manufacturing Holdings, Inc. (A) | &nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15437 |
| Autoliv, Inc. | &nbsp;&nbsp;1369 | &nbsp;&nbsp;&nbsp;&nbsp;104838 |
| BorgWarner, Inc. | &nbsp;&nbsp;3932 | &nbsp;&nbsp;&nbsp;&nbsp;158263 |
| Dana, Inc. | &nbsp;&nbsp;2445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36993 |
| Dorman Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40273 |
| Fox Factory Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65412 |
| Gentex Corp. | &nbsp;&nbsp;3681 | &nbsp;&nbsp;&nbsp;&nbsp;100381 |
| Gentherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37607 |
| Holley, Inc. (A) | &nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3409 |
| LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39754 |
| Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;122160 |
| Luminar Technologies, Inc. (A) | &nbsp;&nbsp;4169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20637 |
| Modine Manufacturing Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18251 |
| Motorcar Parts of America, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5301 |
| Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25088 |
| QuantumScape Corp. (A) | &nbsp;&nbsp;5966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33827 |
| Solid Power, Inc. (A) | &nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6129 |
| Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14059 |
| Stoneridge, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11405 |
| Superior Industries International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190 |
| The Goodyear Tire & Rubber Company (A) | &nbsp;&nbsp;4720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47908 |
| Visteon Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;970466 |
| **Automobiles – 1.3%** | **Automobiles – 1.3%** |  |
| Arcimoto, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 |
| Canoo, Inc. (A) | &nbsp;&nbsp;5484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6745 |
| Envirotech Vehicles, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 |
| Fisker, Inc. (A)(B) | &nbsp;&nbsp;2697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19607 |
| Ford Motor Company | 64752 | &nbsp;&nbsp;&nbsp;&nbsp;753066 |
| General Motors Company | 23907 | &nbsp;&nbsp;&nbsp;&nbsp;804231 |
| Harley-Davidson, Inc. | &nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;100339 |
| Lordstown Motors Corp., Class A (A) | &nbsp;&nbsp;3248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3703 |
| Lucid Group, Inc. (A)(B) | 27542 | &nbsp;&nbsp;&nbsp;&nbsp;188112 |
| Rivian Automotive, Inc., Class A (A)(B) | 14933 | &nbsp;&nbsp;&nbsp;&nbsp;275215 |
| Tesla, Inc. (A) | 51335 | &nbsp;&nbsp;&nbsp;6323445 |
| Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68696 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Automobiles (continued)** | **Automobiles (continued)** |  |
| Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;534 | $&nbsp;&nbsp;&nbsp;&nbsp;28142 |
|  |  | 8572095 |
| **Distributors – 0.1%** | **Distributors – 0.1%** |  |
| Funko, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7724 |
| Genuine Parts Company | &nbsp;&nbsp;2289 | &nbsp;&nbsp;&nbsp;&nbsp;397164 |
| LKQ Corp. | &nbsp;&nbsp;4536 | &nbsp;&nbsp;&nbsp;&nbsp;242268 |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;197724 |
| Weyco Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;850149 |
| **Diversified consumer services – 0.1%** | **Diversified consumer services – 0.1%** |  |
| 2U, Inc. (A) | &nbsp;&nbsp;1345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8433 |
| ADT, Inc. | 13826 | &nbsp;&nbsp;&nbsp;&nbsp;125402 |
| Adtalem Global Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;27513 |
| American Public Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4572 |
| Bright Horizons Family Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;971 | &nbsp;&nbsp;&nbsp;&nbsp;61270 |
| Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7739 |
| Chegg, Inc. (A) | &nbsp;&nbsp;2095 | &nbsp;&nbsp;&nbsp;&nbsp;52941 |
| Coursera, Inc. (A) | &nbsp;&nbsp;2210 | &nbsp;&nbsp;&nbsp;&nbsp;26144 |
| Duolingo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;36490 |
| European Wax Center, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;10607 |
| frontdoor, Inc. (A) | &nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;29765 |
| Graham Holdings Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;22356 |
| Grand Canyon Education, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;56422 |
| H&R Block, Inc. | &nbsp;&nbsp;2642 | &nbsp;&nbsp;&nbsp;&nbsp;96459 |
| ITT Educational Services, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Laureate Education, Inc. | &nbsp;&nbsp;2848 | &nbsp;&nbsp;&nbsp;&nbsp;27398 |
| Lincoln Educational Services Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 |
| Mister Car Wash, Inc. (A) | &nbsp;&nbsp;4692 | &nbsp;&nbsp;&nbsp;&nbsp;43307 |
| Nerdy, Inc. (A) | &nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4412 |
| Perdoceo Education Corp. (A) | &nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;16889 |
| Regis Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 |
| Rover Group, Inc. (A) | &nbsp;&nbsp;2832 | &nbsp;&nbsp;&nbsp;&nbsp;10393 |
| Service Corp. International | &nbsp;&nbsp;2591 | &nbsp;&nbsp;&nbsp;&nbsp;179142 |
| Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;33991 |
| Stride, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;22709 |
| Udemy, Inc. (A) | &nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;23347 |
| Universal Technical Institute, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189 |
| Vivint Smart Home, Inc. (A) | &nbsp;&nbsp;3439 | &nbsp;&nbsp;&nbsp;&nbsp;40924 |
| Wag! Group Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571 |
| WW International, Inc. (A) | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4933 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;977117 |
| **Hotels, restaurants and leisure – 2.1%** | **Hotels, restaurants and leisure – 2.1%** |  |
| Accel Entertainment, Inc. (A) | &nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9356 |
| Airbnb, Inc., Class A (A) | &nbsp;&nbsp;6559 | &nbsp;&nbsp;&nbsp;&nbsp;560795 |
| Ambassadors Group, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
| Aramark | &nbsp;&nbsp;4256 | &nbsp;&nbsp;&nbsp;&nbsp;175943 |
| Bally's Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp;14380 |
| Biglari Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7218 |
| BJ's Restaurants, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;11027 |
| Bloomin' Brands, Inc. | &nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;30421 |
| Bluegreen Vacations Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3395 |
| Booking Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;665 | 1340161 |
| Bowlero Corp. (A) | &nbsp;&nbsp;1682 | &nbsp;&nbsp;&nbsp;&nbsp;22673 |
| Boyd Gaming Corp. | &nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;95591 |
| Brinker International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;23518 |
| Caesars Entertainment, Inc. (A) | &nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;147722 |
| Carnival Corp. (A) | 17793 | &nbsp;&nbsp;&nbsp;&nbsp;143412 |
| Carrols Restaurant Group, Inc. (A) | &nbsp;&nbsp;1021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389 |
| Cedar Fair LP | &nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp;39108 |
| Century Casinos, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404 |
| Chipotle Mexican Grill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;631308 |
| Choice Hotels International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;103516 |
| Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp;128338 |
| Chuy's Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;10811 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 167 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;380 | $&nbsp;&nbsp;&nbsp;&nbsp;36001 |
| Darden Restaurants, Inc. | &nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;283300 |
| Dave & Buster's Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;25021 |
| Denny's Corp. (A) | &nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp;10076 |
| Dine Brands Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;16925 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;204030 |
| DraftKings, Inc., Class A (A) | &nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;84742 |
| Dutch Bros, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp;22439 |
| El Pollo Loco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7699 |
| Everi Holdings, Inc. (A) | &nbsp;&nbsp;1572 | &nbsp;&nbsp;&nbsp;&nbsp;22558 |
| Expedia Group, Inc. (A) | &nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;218825 |
| F45 Training Holdings, Inc. (A) | &nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3987 |
| FAT Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 |
| Fiesta Restaurant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4902 |
| First Watch Restaurant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8240 |
| Full House Resorts, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527 |
| Global Business Travel Group I (A) | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5758 |
| Golden Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;19485 |
| Hilton Grand Vacations, Inc. (A) | &nbsp;&nbsp;1856 | &nbsp;&nbsp;&nbsp;&nbsp;71530 |
| Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;4507 | &nbsp;&nbsp;&nbsp;&nbsp;569505 |
| Hyatt Hotels Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp;75707 |
| Inspired Entertainment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 |
| Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;24017 |
| Krispy Kreme, Inc. | &nbsp;&nbsp;2475 | &nbsp;&nbsp;&nbsp;&nbsp;25542 |
| Kura Sushi USA, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5960 |
| Las Vegas Sands Corp. (A) | 12539 | &nbsp;&nbsp;&nbsp;&nbsp;602750 |
| Life Time Group Holdings, Inc. (A) | &nbsp;&nbsp;3017 | &nbsp;&nbsp;&nbsp;&nbsp;36083 |
| Light & Wonder, Inc. (A) | &nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;91650 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;5334 | &nbsp;&nbsp;&nbsp;&nbsp;794179 |
| Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;88156 |
| McDonald's Corp. | 12040 | 3172901 |
| Membership Collective Group, Inc., Class A (A) | &nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4585 |
| MGM Resorts International | &nbsp;&nbsp;6476 | &nbsp;&nbsp;&nbsp;&nbsp;217140 |
| Monarch Casino & Resort, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;26988 |
| Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5242 |
| Noodles & Company (A) | &nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5737 |
| Norwegian Cruise Line Holdings, Ltd. (A) | &nbsp;&nbsp;6764 | &nbsp;&nbsp;&nbsp;&nbsp;82791 |
| Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;49139 |
| Penn Entertainment, Inc. (A) | &nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp;78260 |
| Planet Fitness, Inc., Class A (A) | &nbsp;&nbsp;1388 | &nbsp;&nbsp;&nbsp;&nbsp;109374 |
| PlayAGS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912 |
| Portillo's, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9727 |
| Potbelly Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 |
| RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;15749 |
| Red Robin Gourmet Burgers, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1719 |
| Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;40570 |
| Restaurant Brands International LP | &nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 |
| Royal Caribbean Cruises, Ltd. (A) | &nbsp;&nbsp;4192 | &nbsp;&nbsp;&nbsp;&nbsp;207211 |
| Rush Street Interactive, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2746 |
| Ruth's Hospitality Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp;10170 |
| SeaWorld Entertainment, Inc. (A) | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;59824 |
| Shake Shack, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;27742 |
| Six Flags Entertainment Corp. (A) | &nbsp;&nbsp;1249 | &nbsp;&nbsp;&nbsp;&nbsp;29039 |
| Sonder Holdings, Inc. (A)(B) | &nbsp;&nbsp;3264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4047 |
| Starbucks Corp. | 18806 | 1865555 |
| Sweetgreen, Inc., Class A (A) | &nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;12598 |
| Target Hospitality Corp. (A) | &nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp;23634 |
| Texas Roadhouse, Inc. | &nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;101318 |
| The Cheesecake Factory, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;28285 |
| The Wendy's Company | &nbsp;&nbsp;3521 | &nbsp;&nbsp;&nbsp;&nbsp;79680 |
| Travel + Leisure Company | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;51360 |
| Vacasa, Inc., Class A (A) | &nbsp;&nbsp;3522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438 |
| Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp;147539 |
| Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;68260 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Hotels, restaurants and leisure (continued)** | **Hotels, restaurants and leisure (continued)** |  |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;1489 | $&nbsp;&nbsp;&nbsp;&nbsp;106181 |
| Wynn Resorts, Ltd. (A) | &nbsp;&nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp;154384 |
| Xponential Fitness, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11259 |
| Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp;594291 |
|  |  | 14287553 |
| **Household durables – 0.4%** | **Household durables – 0.4%** |  |
| Bassett Furniture Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3459 |
| Beazer Homes USA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 |
| Cavco Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35069 |
| Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27606 |
| Cricut, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009 |
| D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;5712 | &nbsp;&nbsp;&nbsp;&nbsp;509168 |
| Dream Finders Homes, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5941 |
| Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11255 |
| Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141 |
| GoPro, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12106 |
| Green Brick Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20571 |
| Hamilton Beach Brands Holding Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540 |
| Hamilton Beach Brands Holding Company, Class B | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2986 |
| Helen of Troy, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42257 |
| Hooker Furnishings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4806 |
| Hovnanian Enterprises, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4755 |
| Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42629 |
| iRobot Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21899 |
| KB Home | &nbsp;&nbsp;&nbsp;1321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42074 |
| Landsea Homes Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 |
| La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16887 |
| Legacy Housing Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9309 |
| Leggett & Platt, Inc. | &nbsp;&nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70745 |
| Lennar Corp., A Shares | &nbsp;&nbsp;&nbsp;4580 | &nbsp;&nbsp;&nbsp;&nbsp;414490 |
| LGI Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31021 |
| Lifetime Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 |
| M/I Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20781 |
| MDC Holdings, Inc. | &nbsp;&nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33117 |
| Meritage Homes Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48313 |
| Mohawk Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;104878 |
| Newell Brands, Inc. | &nbsp;&nbsp;&nbsp;6838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89441 |
| NVR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;239854 |
| PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;3709 | &nbsp;&nbsp;&nbsp;&nbsp;168871 |
| Purple Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6605 |
| Skyline Champion Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49862 |
| Snap One Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8240 |
| Sonos, Inc. (A) | &nbsp;&nbsp;&nbsp;2137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36115 |
| Taylor Morrison Home Corp. (A) | &nbsp;&nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58818 |
| Tempur Sealy International, Inc. | &nbsp;&nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97326 |
| The Lovesac Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6163 |
| Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93101 |
| TopBuild Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84348 |
| Traeger, Inc. (A) | &nbsp;&nbsp;&nbsp;1820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5132 |
| Tri Pointe Homes, Inc. (A) | &nbsp;&nbsp;&nbsp;1388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25803 |
| Tupperware Brands Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525 |
| Universal Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4911 |
| Vizio Holding Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14857 |
| VOXX International Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240 |
| Weber, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7181 |
| Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;879 | &nbsp;&nbsp;&nbsp;&nbsp;124343 |
|  |  | &nbsp;&nbsp;&nbsp;2681117 |
| **Internet and direct marketing retail – 2.3%** | **Internet and direct marketing retail – 2.3%** |  |
| 1-800-Flowers.com, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5373 |
| 1stdibs.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245 |
| Aka Brands Holding Corp. (A) | &nbsp;&nbsp;&nbsp;1841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338 |
| Amazon.com, Inc. (A) | 166873 | 14017332 |
| BARK, Inc. (A) | &nbsp;&nbsp;&nbsp;2469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3679 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 168 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Internet and direct marketing retail (continued)** | **Internet and direct marketing retail (continued)** |  |
| CarParts.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;778 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870 |
| Chewy, Inc., Class A (A) | &nbsp;&nbsp;1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68227 |
| ContextLogic, Inc., Class A (A) | 11179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 |
| DoorDash, Inc., Class A (A) | &nbsp;&nbsp;5882 | &nbsp;&nbsp;&nbsp;&nbsp;287159 |
| Duluth Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4326 |
| eBay, Inc. | &nbsp;&nbsp;9008 | &nbsp;&nbsp;&nbsp;&nbsp;373562 |
| Etsy, Inc. (A) | &nbsp;&nbsp;2078 | &nbsp;&nbsp;&nbsp;&nbsp;248903 |
| Groupon, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4908 |
| Lands' End, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734 |
| Liquidity Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8928 |
| Overstock.com, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14810 |
| PetMed Express, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6921 |
| Porch Group, Inc. (A) | &nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3019 |
| Poshmark, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16611 |
| Quotient Technology, Inc. (A) | &nbsp;&nbsp;1764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6051 |
| Qurate Retail, Inc., Series A (A) | &nbsp;&nbsp;5287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8618 |
| Rent the Runway, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873 |
| Revolve Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15515 |
| RumbleON, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 |
| Stitch Fix, Inc., Class A (A) | &nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5262 |
| The RealReal, Inc. (A) | &nbsp;&nbsp;2001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501 |
| ThredUp, Inc., Class A (A) | &nbsp;&nbsp;1553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034 |
| Vivid Seats, Inc., Class A (A) | &nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10731 |
| Wayfair, Inc., Class A (A) | &nbsp;&nbsp;1337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43974 |
| Xometry, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21755 |
|  |  | 15203186 |
| **Leisure products – 0.1%** | **Leisure products – 0.1%** |  |
| Acushnet Holdings Corp. | &nbsp;&nbsp;1199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50910 |
| American Outdoor Brands, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3076 |
| Brunswick Corp. | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89668 |
| Clarus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4124 |
| Escalade, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3339 |
| Hasbro, Inc. | &nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp;139225 |
| JAKKS Pacific, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 |
| Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11769 |
| Latham Group, Inc. (A) | &nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5741 |
| Malibu Boats, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19561 |
| Marine Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8733 |
| MasterCraft Boat Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9003 |
| Mattel, Inc. (A) | &nbsp;&nbsp;5844 | &nbsp;&nbsp;&nbsp;&nbsp;104257 |
| Peloton Interactive, Inc., Class A (A) | &nbsp;&nbsp;5138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40796 |
| Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99384 |
| Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838 |
| Solo Brands, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220 |
| Sturm Ruger & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16452 |
| Topgolf Callaway Brands Corp. (A) | &nbsp;&nbsp;3017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59586 |
| Vista Outdoor, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22786 |
| YETI Holdings, Inc. (A) | &nbsp;&nbsp;1434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;758246 |
| **Multiline retail – 0.4%** | **Multiline retail – 0.4%** |  |
| Big Lots, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8188 |
| Dillard's, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70134 |
| Dollar General Corp. | &nbsp;&nbsp;3693 | &nbsp;&nbsp;&nbsp;&nbsp;909401 |
| Dollar Tree, Inc. (A) | &nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp;519085 |
| Franchise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14745 |
| Kohl's Corp. | &nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48783 |
| Macy's, Inc. | &nbsp;&nbsp;4454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91975 |
| Nordstrom, Inc. | &nbsp;&nbsp;2651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42787 |
| Ollie's Bargain Outlet Holdings, Inc. (A) | &nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48620 |
| Target Corp. | &nbsp;&nbsp;7540 | &nbsp;&nbsp;&nbsp;1123762 |
|  |  | &nbsp;&nbsp;&nbsp;2877480 |
| **Specialty retail – 2.3%** | **Specialty retail – 2.3%** |  |
| Abercrombie & Fitch Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18924 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;1317 | $&nbsp;&nbsp;&nbsp;&nbsp;69195 |
| Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;144972 |
| American Eagle Outfitters, Inc. | &nbsp;&nbsp;3071 | &nbsp;&nbsp;&nbsp;&nbsp;42871 |
| America's Car-Mart, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8454 |
| Arhaus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9380 |
| Arko Corp. | &nbsp;&nbsp;1443 | &nbsp;&nbsp;&nbsp;&nbsp;12496 |
| Asbury Automotive Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp;64709 |
| AutoNation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp;87128 |
| AutoZone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;786711 |
| Barnes & Noble Education, Inc. (A) | &nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 |
| Bath & Body Works, Inc. | &nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;158025 |
| Bed Bath & Beyond, Inc. (A)(B) | &nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705 |
| Best Buy Company, Inc. | &nbsp;&nbsp;3694 | &nbsp;&nbsp;&nbsp;&nbsp;296296 |
| Big 5 Sporting Goods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834 |
| Boot Barn Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;502 | &nbsp;&nbsp;&nbsp;&nbsp;31385 |
| Brilliant Earth Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345 |
| Build-A-Bear Workshop, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4673 |
| Burlington Stores, Inc. (A) | &nbsp;&nbsp;1079 | &nbsp;&nbsp;&nbsp;&nbsp;218778 |
| Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;10917 |
| Camping World Holdings, Inc., Class A (B) | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;15959 |
| CarMax, Inc. (A) | &nbsp;&nbsp;2616 | &nbsp;&nbsp;&nbsp;&nbsp;159288 |
| Carvana Company (A)(B) | &nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9053 |
| Chico's FAS, Inc. (A) | &nbsp;&nbsp;1633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8034 |
| Citi Trends, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092 |
| Conn's, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509 |
| Designer Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8528 |
| Destination XL Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5218 |
| Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;110065 |
| Envela Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763 |
| EVgo, Inc. (A)(B) | &nbsp;&nbsp;1443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450 |
| Express, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 |
| Five Below, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;161836 |
| Floor & Decor Holdings, Inc., Class A (A) | &nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;121853 |
| Foot Locker, Inc. | &nbsp;&nbsp;1544 | &nbsp;&nbsp;&nbsp;&nbsp;58348 |
| GameStop Corp., Class A (A)(B) | &nbsp;&nbsp;5020 | &nbsp;&nbsp;&nbsp;&nbsp;92669 |
| Genesco, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9066 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;42387 |
| GrowGeneration Corp. (A) | &nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4038 |
| Guess?, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;19407 |
| Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8163 |
| Hibbett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;15145 |
| Jjill, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538 |
| JOANN, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 |
| Kirkland's, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 |
| Lazydays Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501 |
| Leslie's, Inc. (A) | &nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;37326 |
| Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp;92952 |
| LL Flooring Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3546 |
| Lowe's Companies, Inc. | 10167 | 2025673 |
| MarineMax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6837 |
| Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;25674 |
| Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;103430 |
| National Vision Holdings, Inc. (A) | &nbsp;&nbsp;1319 | &nbsp;&nbsp;&nbsp;&nbsp;51124 |
| OneWater Marine, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5348 |
| O'Reilly Automotive, Inc. (A) | &nbsp;&nbsp;1037 | &nbsp;&nbsp;&nbsp;&nbsp;875259 |
| Penske Automotive Group, Inc. | &nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp;134928 |
| Petco Health & Wellness Company, Inc. (A) | &nbsp;&nbsp;3669 | &nbsp;&nbsp;&nbsp;&nbsp;34782 |
| Rent-A-Center, Inc. | &nbsp;&nbsp;1004 | &nbsp;&nbsp;&nbsp;&nbsp;22640 |
| RH (A) | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;101265 |
| Ross Stores, Inc. | &nbsp;&nbsp;5698 | &nbsp;&nbsp;&nbsp;&nbsp;661367 |
| Sally Beauty Holdings, Inc. (A) | &nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp;22210 |
| Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;11955 |
| Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;52224 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 169 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Specialty retail (continued)** | **Specialty retail (continued)** |  |
| Sleep Number Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;378 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9820 |
| Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20447 |
| Sportsman's Warehouse Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750 |
| The Aaron's Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7588 |
| The Buckle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36461 |
| The Cato Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4376 |
| The Children's Place, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5609 |
| The Container Store Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280 |
| The Gap, Inc. | &nbsp;&nbsp;6031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68030 |
| The Home Depot, Inc. | 16767 | &nbsp;&nbsp;&nbsp;5296025 |
| The ODP Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37115 |
| The TJX Companies, Inc. | 19031 | &nbsp;&nbsp;&nbsp;1514868 |
| Tilly's, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679 |
| Torrid Holdings, Inc. (A) | &nbsp;&nbsp;1663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4922 |
| Tractor Supply Company | &nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;409670 |
| TravelCenters of America, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9225 |
| Ulta Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;394019 |
| Urban Outfitters, Inc. (A) | &nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37254 |
| Victoria's Secret & Company (A) | &nbsp;&nbsp;1346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48160 |
| Warby Parker, Inc., Class A (A) | &nbsp;&nbsp;1619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21840 |
| Williams-Sonoma, Inc. | &nbsp;&nbsp;1091 | &nbsp;&nbsp;&nbsp;&nbsp;125378 |
| Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14150 |
| Zumiez, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8066 |
|  |  | 15192904 |
| **Textiles, apparel and luxury goods – 0.6%** | **Textiles, apparel and luxury goods – 0.6%** |  |
| Allbirds, Inc., Class A (A) | &nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201 |
| Carter's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44244 |
| Columbia Sportswear Company | &nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81274 |
| Crocs, Inc. (A) | &nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp;110382 |
| Culp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607 |
| Deckers Outdoor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;174433 |
| Fossil Group, Inc. (A) | &nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4750 |
| G-III Apparel Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6499 |
| Hanesbrands, Inc. | &nbsp;&nbsp;5901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37530 |
| Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37551 |
| Levi Strauss & Company, Class A | &nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26865 |
| Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9385 |
| NIKE, Inc., Class B | 20721 | &nbsp;&nbsp;&nbsp;2424564 |
| Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25718 |
| PLBY Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669 |
| PVH Corp. | &nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77084 |
| Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75977 |
| Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055 |
| Skechers USA, Inc., Class A (A) | &nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94346 |
| Steven Madden, Ltd. | &nbsp;&nbsp;1359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43434 |
| Superior Group of Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094 |
| Tapestry, Inc. | &nbsp;&nbsp;3988 | &nbsp;&nbsp;&nbsp;&nbsp;151863 |
| Under Armour, Inc., Class A (A) | &nbsp;&nbsp;6449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65522 |
| Unifi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3771 |
| Vera Bradley, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049 |
| VF Corp. | &nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;&nbsp;177726 |
| Wolverine World Wide, Inc. | &nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12067 |
|  |  | &nbsp;&nbsp;&nbsp;3701660 |
|  |  | 66071973 |
| **Consumer staples – 6.9%** |  |  |
| **Beverages – 1.8%** | **Beverages – 1.8%** |  |
| Brown-Forman Corp., Class B | &nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp;335625 |
| Celsius Holdings, Inc. (A) | &nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;130362 |
| Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71218 |
| Constellation Brands, Inc., Class A | &nbsp;&nbsp;3021 | &nbsp;&nbsp;&nbsp;&nbsp;700117 |
| Keurig Dr. Pepper, Inc. | 23273 | &nbsp;&nbsp;&nbsp;&nbsp;829915 |
| MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36701 |
| Molson Coors Beverage Company, Class B | &nbsp;&nbsp;3315 | &nbsp;&nbsp;&nbsp;&nbsp;170789 |
| Monster Beverage Corp. (A) | &nbsp;&nbsp;8646 | &nbsp;&nbsp;&nbsp;&nbsp;877828 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Beverages (continued)** | **Beverages (continued)** |  |
| National Beverage Corp. (A) | &nbsp;&nbsp;1557 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72447 |
| PepsiCo, Inc. | 22603 | &nbsp;&nbsp;&nbsp;4083458 |
| Primo Water Corp. | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 |
| The Boston Beer Company, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56018 |
| The Coca-Cola Company | 70845 | &nbsp;&nbsp;&nbsp;4506450 |
| The Duckhorn Portfolio, Inc. (A) | &nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27374 |
| Vintage Wine Estates, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523 |
| Vita Coco Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11249 |
| Zevia PBC, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3178 |
|  |  | 11917334 |
| **Food and staples retailing – 1.8%** | **Food and staples retailing – 1.8%** |  |
| Albertsons Companies, Inc., Class A | &nbsp;&nbsp;8427 | &nbsp;&nbsp;&nbsp;&nbsp;174776 |
| BJ's Wholesale Club Holdings, Inc. (A) | &nbsp;&nbsp;2212 | &nbsp;&nbsp;&nbsp;&nbsp;146346 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;132815 |
| Costco Wholesale Corp. | &nbsp;&nbsp;7257 | &nbsp;&nbsp;&nbsp;3312821 |
| Grocery Outlet Holding Corp. (A) | &nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47142 |
| HF Foods Group, Inc. (A) | &nbsp;&nbsp;1021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4145 |
| Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24501 |
| Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4342 |
| Performance Food Group Company (A) | &nbsp;&nbsp;2568 | &nbsp;&nbsp;&nbsp;&nbsp;149946 |
| PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31910 |
| Rite Aid Corp. (A) | &nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3824 |
| SpartanNash Company | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19293 |
| Sprouts Farmers Market, Inc. (A) | &nbsp;&nbsp;1798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58201 |
| Sysco Corp. | &nbsp;&nbsp;8302 | &nbsp;&nbsp;&nbsp;&nbsp;634688 |
| The Andersons, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22813 |
| The Chefs' Warehouse, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22131 |
| The Fresh Market, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| The Kroger Company | 11736 | &nbsp;&nbsp;&nbsp;&nbsp;523191 |
| U.S. Foods Holding Corp. (A) | &nbsp;&nbsp;3726 | &nbsp;&nbsp;&nbsp;&nbsp;126759 |
| United Natural Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38091 |
| Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7103 |
| Walgreens Boots Alliance, Inc. | 14176 | &nbsp;&nbsp;&nbsp;&nbsp;529615 |
| Walmart, Inc. | 44449 | &nbsp;&nbsp;&nbsp;6302424 |
| Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38183 |
|  |  | 12355060 |
| **Food products – 1.2%** | **Food products – 1.2%** |  |
| Alico, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4344 |
| Archer-Daniels-Midland Company | &nbsp;&nbsp;9196 | &nbsp;&nbsp;&nbsp;&nbsp;853849 |
| B&G Foods, Inc. (B) | &nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13648 |
| Benson Hill, Inc. (A) | &nbsp;&nbsp;3178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8104 |
| Beyond Meat, Inc. (A)(B) | &nbsp;&nbsp;1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13639 |
| BRC, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3917 |
| Bunge, Ltd. | &nbsp;&nbsp;2429 | &nbsp;&nbsp;&nbsp;&nbsp;242341 |
| Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996 |
| Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40565 |
| Campbell Soup Company | &nbsp;&nbsp;4940 | &nbsp;&nbsp;&nbsp;&nbsp;280345 |
| Conagra Brands, Inc. | &nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;305924 |
| Darling Ingredients, Inc. (A) | &nbsp;&nbsp;2642 | &nbsp;&nbsp;&nbsp;&nbsp;165363 |
| Farmer Brothers Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 |
| Flowers Foods, Inc. | &nbsp;&nbsp;3522 | &nbsp;&nbsp;&nbsp;&nbsp;101222 |
| Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22288 |
| Freshpet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40264 |
| General Mills, Inc. | &nbsp;&nbsp;9785 | &nbsp;&nbsp;&nbsp;&nbsp;820472 |
| Hormel Foods Corp. | &nbsp;&nbsp;8869 | &nbsp;&nbsp;&nbsp;&nbsp;403983 |
| Hostess Brands, Inc. (A) | &nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52061 |
| Ingredion, Inc. | &nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp;107919 |
| J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48656 |
| John B Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13499 |
| Kellogg Company | &nbsp;&nbsp;5530 | &nbsp;&nbsp;&nbsp;&nbsp;393957 |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp;211158 |
| Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85234 |
| Lifecore Biomedical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4724 |
| Lifeway Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 170 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Food products (continued)** | **Food products (continued)** |  |
| Limoneira Company | &nbsp;&nbsp;&nbsp;&nbsp;387 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725 |
| Local Bounti Corp. (A) | &nbsp;&nbsp;1583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 |
| McCormick & Company, Inc. | &nbsp;&nbsp;4116 | &nbsp;&nbsp;&nbsp;&nbsp;341175 |
| Mission Produce, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9935 |
| Mondelez International, Inc., Class A | 22473 | &nbsp;&nbsp;&nbsp;1497825 |
| Pilgrim's Pride Corp. (A) | &nbsp;&nbsp;3970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94208 |
| Post Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87913 |
| Seaboard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56628 |
| Seneca Foods Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8472 |
| Sovos Brands, Inc. (A) | &nbsp;&nbsp;1396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20061 |
| Tattooed Chef, Inc. (A) | &nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 |
| The Hain Celestial Group, Inc. (A) | &nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25208 |
| The Hershey Company | &nbsp;&nbsp;2409 | &nbsp;&nbsp;&nbsp;&nbsp;557852 |
| The JM Smucker Company | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;257022 |
| The Kraft Heinz Company | 20103 | &nbsp;&nbsp;&nbsp;&nbsp;818393 |
| The Simply Good Foods Company (A) | &nbsp;&nbsp;1663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63244 |
| Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30352 |
| TreeHouse Foods, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46220 |
| Tyson Foods, Inc., Class A | &nbsp;&nbsp;4752 | &nbsp;&nbsp;&nbsp;&nbsp;295812 |
| Vital Farms, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7937 |
|  |  | &nbsp;&nbsp;&nbsp;8474716 |
| **Household products – 1.3%** | **Household products – 1.3%** |  |
| Central Garden & Pet Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32972 |
| Church & Dwight Company, Inc. | &nbsp;&nbsp;3994 | &nbsp;&nbsp;&nbsp;&nbsp;321956 |
| Colgate-Palmolive Company | 13727 | &nbsp;&nbsp;&nbsp;1081550 |
| Energizer Holdings, Inc. | &nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39925 |
| Kimberly-Clark Corp. | &nbsp;&nbsp;5513 | &nbsp;&nbsp;&nbsp;&nbsp;748390 |
| Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3991 |
| Reynolds Consumer Products, Inc. | &nbsp;&nbsp;3053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91529 |
| Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41365 |
| The Clorox Company | &nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp;283186 |
| The Procter & Gamble Company | 39142 | &nbsp;&nbsp;&nbsp;5932362 |
| WD-40 Company | &nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37240 |
|  |  | &nbsp;&nbsp;&nbsp;8614466 |
| **Personal products – 0.2%** | **Personal products – 0.2%** |  |
| BellRing Brands, Inc. (A) | &nbsp;&nbsp;2087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53511 |
| Coty, Inc., Class A (A) | 13695 | &nbsp;&nbsp;&nbsp;&nbsp;117229 |
| e.l.f. Beauty, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48277 |
| Edgewell Personal Care Company | &nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33761 |
| Herbalife Nutrition, Ltd. (A) | &nbsp;&nbsp;1813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26977 |
| Inter Parfums, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52024 |
| Medifast, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21686 |
| Nature's Sunshine Products, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867 |
| Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36005 |
| Olaplex Holdings, Inc. (A) | 10758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56049 |
| The Beauty Health Company (A) | &nbsp;&nbsp;2356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21440 |
| The Estee Lauder Companies, Inc., Class A | &nbsp;&nbsp;3795 | &nbsp;&nbsp;&nbsp;&nbsp;941577 |
| The Honest Company, Inc. (A) | &nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3552 |
| Thorne HealthTech, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004 |
| Upexi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| USANA Health Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18620 |
| Veru, Inc. (A) | &nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6706 |
|  |  | &nbsp;&nbsp;&nbsp;1444480 |
| **Tobacco – 0.6%** | **Tobacco – 0.6%** |  |
| Altria Group, Inc. | 29499 | &nbsp;&nbsp;&nbsp;1348399 |
| Philip Morris International, Inc. | 25393 | &nbsp;&nbsp;&nbsp;2570026 |
| Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7203 |
| Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22497 |
| Vector Group, Ltd. | &nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30812 |
|  |  | &nbsp;&nbsp;&nbsp;3978937 |
|  |  | 46784993 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Energy – 5.5%** |  |  |
| **Energy equipment and services – 0.5%** | **Energy equipment and services – 0.5%** |  |
| Archrock, Inc. | &nbsp;&nbsp;2767 | $&nbsp;&nbsp;&nbsp;&nbsp;24848 |
| Baker Hughes Company | 16646 | &nbsp;&nbsp;&nbsp;&nbsp;491556 |
| Bristow Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9387 |
| Cactus, Inc., Class A | &nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;52622 |
| ChampionX Corp. | &nbsp;&nbsp;3261 | &nbsp;&nbsp;&nbsp;&nbsp;94536 |
| DMC Global, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104 |
| Dril-Quip, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;17769 |
| Forum Energy Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121 |
| Halliburton Company | 14878 | &nbsp;&nbsp;&nbsp;&nbsp;585449 |
| Helix Energy Solutions Group, Inc. (A) | &nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp;20236 |
| Helmerich & Payne, Inc. | &nbsp;&nbsp;1763 | &nbsp;&nbsp;&nbsp;&nbsp;87392 |
| KLX Energy Services Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2735 |
| Liberty Energy, Inc. | &nbsp;&nbsp;2877 | &nbsp;&nbsp;&nbsp;&nbsp;46061 |
| Mammoth Energy Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306 |
| Nabors Industries, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;24779 |
| National Energy Services Reunited Corp. (A) | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;10486 |
| Newpark Resources, Inc. (A) | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7009 |
| NexTier Oilfield Solutions, Inc. (A) | &nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp;&nbsp;38254 |
| Nine Energy Service, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7381 |
| NOV, Inc. | &nbsp;&nbsp;6541 | &nbsp;&nbsp;&nbsp;&nbsp;136641 |
| Oceaneering International, Inc. (A) | &nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;29995 |
| Oil States International, Inc. (A) | &nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9444 |
| Patterson-UTI Energy, Inc. | &nbsp;&nbsp;3673 | &nbsp;&nbsp;&nbsp;&nbsp;61853 |
| ProFrac Holding Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;23612 |
| ProPetro Holding Corp. (A) | &nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;15151 |
| Ranger Energy Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1861 |
| RPC, Inc. | &nbsp;&nbsp;3715 | &nbsp;&nbsp;&nbsp;&nbsp;33026 |
| Schlumberger, Ltd. | 23181 | 1239256 |
| SEACOR Marine Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 |
| Select Energy Services, Inc., Class A | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;16965 |
| Smart Sand, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798 |
| Solaris Oilfield Infrastructure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589 |
| TETRA Technologies, Inc. (A) | &nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5827 |
| Tidewater, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;29627 |
| USA Compression Partners LP | &nbsp;&nbsp;1716 | &nbsp;&nbsp;&nbsp;&nbsp;33513 |
|  |  | 3176230 |
| **Oil, gas and consumable fuels – 5.0%** | **Oil, gas and consumable fuels – 5.0%** |  |
| Aemetis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 |
| Alliance Resource Partners LP | &nbsp;&nbsp;2168 | &nbsp;&nbsp;&nbsp;&nbsp;44054 |
| Alto Ingredients, Inc. (A) | &nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3033 |
| Amplify Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4281 |
| Antero Midstream Corp. | &nbsp;&nbsp;7998 | &nbsp;&nbsp;&nbsp;&nbsp;86298 |
| Antero Resources Corp. (A) | &nbsp;&nbsp;5049 | &nbsp;&nbsp;&nbsp;&nbsp;156469 |
| APA Corp. | &nbsp;&nbsp;5374 | &nbsp;&nbsp;&nbsp;&nbsp;250858 |
| Arch Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;40410 |
| Battalion Oil Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602 |
| Black Stone Minerals LP | &nbsp;&nbsp;3809 | &nbsp;&nbsp;&nbsp;&nbsp;64258 |
| BP PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4820 |
| BP Prudhoe Bay Royalty Trust | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394 |
| California Resources Corp. | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;49906 |
| Callon Petroleum Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;&nbsp;35755 |
| Calumet Specialty Products Partners LP (A) | &nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp;23075 |
| Centrus Energy Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6593 |
| Cheniere Energy, Inc. | &nbsp;&nbsp;4104 | &nbsp;&nbsp;&nbsp;&nbsp;615436 |
| Chesapeake Energy Corp. | &nbsp;&nbsp;1996 | &nbsp;&nbsp;&nbsp;&nbsp;188363 |
| Chevron Corp. | 32076 | 5757321 |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;85233 |
| Civitas Resources, Inc. | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;76062 |
| Clean Energy Fuels Corp. (A) | &nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;20410 |
| CNX Resources Corp. (A) | &nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;54073 |
| Comstock Resources, Inc. | &nbsp;&nbsp;3787 | &nbsp;&nbsp;&nbsp;&nbsp;51920 |
| ConocoPhillips | 20889 | 2464902 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 171 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| CONSOL Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;583 | $&nbsp;&nbsp;&nbsp;&nbsp;37895 |
| Coterra Energy, Inc. | 13132 | &nbsp;&nbsp;&nbsp;&nbsp;322653 |
| Crescent Energy Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8525 |
| Crestwood Equity Partners LP | &nbsp;&nbsp;1779 | &nbsp;&nbsp;&nbsp;&nbsp;46592 |
| CrossAmerica Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp;13742 |
| CVR Energy, Inc. | &nbsp;&nbsp;1544 | &nbsp;&nbsp;&nbsp;&nbsp;48389 |
| DCP Midstream LP | &nbsp;&nbsp;3462 | &nbsp;&nbsp;&nbsp;&nbsp;134291 |
| Delek Logistics Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;628 | &nbsp;&nbsp;&nbsp;&nbsp;28417 |
| Delek US Holdings, Inc. | &nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;32238 |
| Denbury, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;72053 |
| Devon Energy Corp. | 10750 | &nbsp;&nbsp;&nbsp;&nbsp;661233 |
| Diamondback Energy, Inc. | &nbsp;&nbsp;2934 | &nbsp;&nbsp;&nbsp;&nbsp;401313 |
| Dorchester Minerals LP | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;23375 |
| Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;704 | &nbsp;&nbsp;&nbsp;&nbsp;13341 |
| DT Midstream, Inc. | &nbsp;&nbsp;1641 | &nbsp;&nbsp;&nbsp;&nbsp;90682 |
| Energy Transfer LP | 50703 | &nbsp;&nbsp;&nbsp;&nbsp;601845 |
| EnLink Midstream LLC (A) | &nbsp;&nbsp;7987 | &nbsp;&nbsp;&nbsp;&nbsp;98240 |
| Enterprise Products Partners LP | 35855 | &nbsp;&nbsp;&nbsp;&nbsp;864823 |
| Enviva, Inc. | &nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;54347 |
| EOG Resources, Inc. | &nbsp;&nbsp;9629 | 1247148 |
| EQT Corp. | &nbsp;&nbsp;6097 | &nbsp;&nbsp;&nbsp;&nbsp;206262 |
| Equitrans Midstream Corp. | &nbsp;&nbsp;7277 | &nbsp;&nbsp;&nbsp;&nbsp;48756 |
| Evolution Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 |
| Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615 |
| Exxon Mobil Corp. | 68293 | 7532718 |
| Genesis Energy LP | &nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;21839 |
| Gevo, Inc. (A) | &nbsp;&nbsp;3981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7564 |
| Global Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;20306 |
| Green Plains Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6195 |
| Green Plains, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;26871 |
| Gulfport Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;21945 |
| Hallador Energy Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4306 |
| Harvest Natural Resources, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Hess Corp. | &nbsp;&nbsp;5092 | &nbsp;&nbsp;&nbsp;&nbsp;722147 |
| Hess Midstream LP, Class A | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp;20974 |
| HF Sinclair Corp. | &nbsp;&nbsp;3438 | &nbsp;&nbsp;&nbsp;&nbsp;178398 |
| HighPeak Energy, Inc. (B) | &nbsp;&nbsp;1811 | &nbsp;&nbsp;&nbsp;&nbsp;41418 |
| Holly Energy Partners LP | &nbsp;&nbsp;1975 | &nbsp;&nbsp;&nbsp;&nbsp;35787 |
| International Seaways, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp;25655 |
| Kimbell Royalty Partners LP | &nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp;18270 |
| Kinder Morgan, Inc. | 37009 | &nbsp;&nbsp;&nbsp;&nbsp;669123 |
| Kosmos Energy, Ltd. (A) | &nbsp;&nbsp;7208 | &nbsp;&nbsp;&nbsp;&nbsp;45843 |
| Laredo Petroleum, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;13318 |
| Magellan Midstream Partners LP | &nbsp;&nbsp;3113 | &nbsp;&nbsp;&nbsp;&nbsp;156304 |
| Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;3178 | &nbsp;&nbsp;&nbsp;&nbsp;74524 |
| Marathon Oil Corp. | 11168 | &nbsp;&nbsp;&nbsp;&nbsp;302318 |
| Marathon Petroleum Corp. | &nbsp;&nbsp;8181 | &nbsp;&nbsp;&nbsp;&nbsp;952187 |
| Martin Midstream Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| Matador Resources Company | &nbsp;&nbsp;1968 | &nbsp;&nbsp;&nbsp;&nbsp;112648 |
| MPLX LP | 16697 | &nbsp;&nbsp;&nbsp;&nbsp;548329 |
| Murphy Oil Corp. | &nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;&nbsp;106106 |
| NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016 |
| Natural Resource Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp;12333 |
| New Fortress Energy, Inc. | &nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;&nbsp;145798 |
| NextDecade Corp. (A) | &nbsp;&nbsp;1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811 |
| Northern Oil and Gas, Inc. | &nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;36799 |
| NuStar Energy LP | &nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;30800 |
| Occidental Petroleum Corp. | 15284 | &nbsp;&nbsp;&nbsp;&nbsp;962739 |
| ONEOK, Inc. | &nbsp;&nbsp;7354 | &nbsp;&nbsp;&nbsp;&nbsp;483158 |
| OPAL Fuels, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264 |
| Overseas Shipholding Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 |
| Ovintiv, Inc. | &nbsp;&nbsp;4198 | &nbsp;&nbsp;&nbsp;&nbsp;212881 |
| PBF Energy, Inc., Class A | &nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;91062 |
| PDC Energy, Inc. | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;102965 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Oil, gas and consumable fuels (continued)** | **Oil, gas and consumable fuels (continued)** |  |
| Peabody Energy Corp. (A) | &nbsp;&nbsp;&nbsp;2328 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61506 |
| Permian Resources Corp. | &nbsp;&nbsp;&nbsp;4698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44161 |
| Phillips 66 | &nbsp;&nbsp;&nbsp;7890 | &nbsp;&nbsp;&nbsp;&nbsp;821191 |
| Pioneer Natural Resources Company | &nbsp;&nbsp;&nbsp;3927 | &nbsp;&nbsp;&nbsp;&nbsp;896888 |
| Plains All American Pipeline LP | &nbsp;&nbsp;11636 | &nbsp;&nbsp;&nbsp;&nbsp;136839 |
| Plains GP Holdings LP, Class A (A) | &nbsp;&nbsp;&nbsp;3304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41102 |
| Range Resources Corp. | &nbsp;&nbsp;&nbsp;4357 | &nbsp;&nbsp;&nbsp;&nbsp;109012 |
| Ranger Oil Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11563 |
| REX American Resources Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12075 |
| Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8976 |
| SandRidge Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8277 |
| SFL Corp., Ltd. | &nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21003 |
| SilverBow Resources, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8852 |
| Sitio Royalties Corp., Class A | &nbsp;&nbsp;&nbsp;1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33576 |
| SM Energy Company | &nbsp;&nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69939 |
| Southwestern Energy Company (A) | &nbsp;&nbsp;17779 | &nbsp;&nbsp;&nbsp;&nbsp;104007 |
| Stabilis Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549 |
| Summit Midstream Partners LP (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 |
| Sunoco LP | &nbsp;&nbsp;&nbsp;1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56159 |
| Talos Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23336 |
| Targa Resources Corp. | &nbsp;&nbsp;&nbsp;3728 | &nbsp;&nbsp;&nbsp;&nbsp;274008 |
| Teekay Corp. (A) | &nbsp;&nbsp;&nbsp;2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9216 |
| Tellurian, Inc. (A) | &nbsp;&nbsp;&nbsp;9089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15270 |
| Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;297717 |
| The Williams Companies, Inc. | &nbsp;&nbsp;20010 | &nbsp;&nbsp;&nbsp;&nbsp;658329 |
| Uranium Energy Corp. (A) | &nbsp;&nbsp;&nbsp;5202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20184 |
| VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6644 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp;6463 | &nbsp;&nbsp;&nbsp;&nbsp;819896 |
| Vertex Energy, Inc. (A) | &nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7477 |
| Viper Energy Partners LP | &nbsp;&nbsp;&nbsp;1356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43107 |
| W&T Offshore, Inc. (A) | &nbsp;&nbsp;&nbsp;2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11433 |
| Western Midstream Partners LP | &nbsp;&nbsp;&nbsp;6462 | &nbsp;&nbsp;&nbsp;&nbsp;173505 |
| World Fuel Services Corp. | &nbsp;&nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29735 |
|  |  | 33751915 |
|  |  | 36928145 |
| **Financials – 12.0%** |  |  |
| **Banks – 4.0%** | **Banks – 4.0%** |  |
| 1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26545 |
| Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17419 |
| American National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8051 |
| Ameris Bancorp | &nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56898 |
| Ames National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6139 |
| Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13492 |
| Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58880 |
| Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48599 |
| Banc of California, Inc. | &nbsp;&nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18479 |
| BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43737 |
| Bank of America Corp. | 131651 | &nbsp;&nbsp;&nbsp;4360281 |
| Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52586 |
| Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10785 |
| Bank OZK | &nbsp;&nbsp;&nbsp;1946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77957 |
| BankFinancial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5065 |
| BankUnited, Inc. | &nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46097 |
| Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6210 |
| Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38552 |
| Bar Harbor Bankshares | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13104 |
| BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6377 |
| BCB Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7862 |
| Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25325 |
| BOK Financial Corp. | &nbsp;&nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;116037 |
| Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;1506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21310 |
| Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6487 |
| Byline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18077 |
| Cadence Bank | &nbsp;&nbsp;&nbsp;3163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78000 |
| Cambridge Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7725 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 172 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Camden National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;332 | $&nbsp;&nbsp;&nbsp;&nbsp;13841 |
| Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;13000 |
| Capstar Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6605 |
| Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;31327 |
| Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;11742 |
| Central Valley Community Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6248 |
| Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651 |
| Citigroup, Inc. | 31798 | 1438224 |
| Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7407 |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;8158 | &nbsp;&nbsp;&nbsp;&nbsp;321180 |
| City Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;26065 |
| Civista Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7527 |
| CNB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;10135 |
| Codorus Valley Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6355 |
| Columbia Banking System, Inc. | &nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;42754 |
| Comerica, Inc. | &nbsp;&nbsp;2162 | &nbsp;&nbsp;&nbsp;&nbsp;144530 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp;123343 |
| Community Bank System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;48409 |
| Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;14238 |
| ConnectOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;21353 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;142524 |
| Customers Bancorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;10599 |
| CVB Financial Corp. | &nbsp;&nbsp;1133 | &nbsp;&nbsp;&nbsp;&nbsp;29175 |
| Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp;24700 |
| Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp;&nbsp;&nbsp;24106 |
| East West Bancorp, Inc. | &nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;148539 |
| Eastern Bankshares, Inc. | &nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;33155 |
| Enterprise Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;10343 |
| Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp;36328 |
| Equity Bancshares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp;10814 |
| Esquire Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9301 |
| Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745 |
| FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;32815 |
| Fidelity D&D Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3441 |
| Fifth Third Bancorp | 11323 | &nbsp;&nbsp;&nbsp;&nbsp;371508 |
| Financial Institutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9647 |
| First Bancorp (North Carolina) | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;29303 |
| First BanCorp (Puerto Rico) | &nbsp;&nbsp;3172 | &nbsp;&nbsp;&nbsp;&nbsp;40348 |
| First Busey Corp. | &nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;27686 |
| First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;167598 |
| First Commonwealth Financial Corp. | &nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;25733 |
| First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8373 |
| First Financial Bancorp | &nbsp;&nbsp;1737 | &nbsp;&nbsp;&nbsp;&nbsp;42088 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;2377 | &nbsp;&nbsp;&nbsp;&nbsp;81769 |
| First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;13041 |
| First Financial Northwest, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105 |
| First Hawaiian, Inc. | &nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;59319 |
| First Horizon Corp. | &nbsp;&nbsp;8848 | &nbsp;&nbsp;&nbsp;&nbsp;216776 |
| First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 |
| First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;1855 | &nbsp;&nbsp;&nbsp;&nbsp;71696 |
| First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;39260 |
| First Republic Bank | &nbsp;&nbsp;2911 | &nbsp;&nbsp;&nbsp;&nbsp;354822 |
| Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9012 |
| FNB Corp. | &nbsp;&nbsp;5943 | &nbsp;&nbsp;&nbsp;&nbsp;77556 |
| Fulton Financial Corp. | &nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;37935 |
| FVCBankcorp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8143 |
| German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;23686 |
| Glacier Bancorp, Inc. | &nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp;94145 |
| Great Southern Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;15467 |
| Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9630 |
| Hancock Whitney Corp. | &nbsp;&nbsp;1414 | &nbsp;&nbsp;&nbsp;&nbsp;68423 |
| Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;15964 |
| HarborOne Bancorp, Inc. | &nbsp;&nbsp;1175 | &nbsp;&nbsp;&nbsp;&nbsp;16333 |
| Heartland Financial USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp;35944 |
| Heritage Commerce Corp. | &nbsp;&nbsp;1034 | &nbsp;&nbsp;&nbsp;&nbsp;13442 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;708 | $&nbsp;&nbsp;&nbsp;&nbsp;21693 |
| Hilltop Holdings, Inc. | &nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;30790 |
| Home BancShares, Inc. | &nbsp;&nbsp;3102 | &nbsp;&nbsp;&nbsp;&nbsp;70695 |
| HomeStreet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;10894 |
| Hope Bancorp, Inc. | &nbsp;&nbsp;2344 | &nbsp;&nbsp;&nbsp;&nbsp;30027 |
| Horizon Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp;13994 |
| Huntington Bancshares, Inc. | 23877 | &nbsp;&nbsp;&nbsp;&nbsp;336666 |
| Independent Bank Corp. (Massachusetts) | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;60030 |
| Independent Bank Corp. (Michigan) | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;11745 |
| Independent Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp;45240 |
| International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp;36700 |
| Investar Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6868 |
| JPMorgan Chase & Co. | 48034 | 6441359 |
| KeyCorp | 14999 | &nbsp;&nbsp;&nbsp;&nbsp;261283 |
| Lakeland Bancorp, Inc. | &nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp;23034 |
| Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;33274 |
| Live Oak Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;24281 |
| M&T Bank Corp. | &nbsp;&nbsp;2844 | &nbsp;&nbsp;&nbsp;&nbsp;412551 |
| Macatawa Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;926 | &nbsp;&nbsp;&nbsp;&nbsp;10214 |
| Mercantile Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;12120 |
| Metropolitan Bank Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp;10795 |
| Midland States Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp;14348 |
| MidWestOne Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;10668 |
| MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6276 |
| National Bank Holdings Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;29323 |
| National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770 |
| NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;21753 |
| Nicolet Bankshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5346 |
| Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8186 |
| Northwest Bancshares, Inc. | &nbsp;&nbsp;2105 | &nbsp;&nbsp;&nbsp;&nbsp;29428 |
| Norwood Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7056 |
| OceanFirst Financial Corp. | &nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp;24544 |
| OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp;25658 |
| Old National Bancorp | &nbsp;&nbsp;4312 | &nbsp;&nbsp;&nbsp;&nbsp;77530 |
| Old Second Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;13089 |
| Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;18937 |
| Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;40334 |
| PacWest Bancorp | &nbsp;&nbsp;2065 | &nbsp;&nbsp;&nbsp;&nbsp;47392 |
| Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;29558 |
| Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;22429 |
| PCSB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8949 |
| Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;14776 |
| Penns Woods Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2795 |
| Peoples Bancorp of North Carolina, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191 |
| Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;20086 |
| Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;1285 | &nbsp;&nbsp;&nbsp;&nbsp;94319 |
| Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;54979 |
| Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;21938 |
| Premier Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;21684 |
| Primis Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7762 |
| Prosperity Bancshares, Inc. | &nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;77840 |
| QCR Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp;17324 |
| RBB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8486 |
| Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7914 |
| Regions Financial Corp. | 15429 | &nbsp;&nbsp;&nbsp;&nbsp;332649 |
| Renasant Corp. | &nbsp;&nbsp;1005 | &nbsp;&nbsp;&nbsp;&nbsp;37778 |
| Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;14322 |
| Republic First Bancorp, Inc. (A) | &nbsp;&nbsp;1584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3406 |
| Riverview Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3494 |
| S&T Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;26250 |
| Sandy Spring Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;26423 |
| Seacoast Banking Corp. of Florida | &nbsp;&nbsp;1097 | &nbsp;&nbsp;&nbsp;&nbsp;34215 |
| ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;58436 |
| Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8506 |
| Sierra Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7923 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 173 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Banks (continued)** | **Banks (continued)** |  |
| Signature Bank | &nbsp;&nbsp;&nbsp;&nbsp;987 | $&nbsp;&nbsp;&nbsp;&nbsp;113722 |
| Silvergate Capital Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8648 |
| Simmons First National Corp., Class A | &nbsp;&nbsp;2304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49720 |
| South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11425 |
| Southern First Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9470 |
| Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24005 |
| SouthState Corp. | &nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99421 |
| Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29401 |
| Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27227 |
| Summit Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8189 |
| SVB Financial Group (A) | &nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;224617 |
| Synovus Financial Corp. | &nbsp;&nbsp;2472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92824 |
| Texas Capital Bancshares, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52048 |
| The Bancorp, Inc. (A) | &nbsp;&nbsp;1009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28635 |
| The Bank of Princeton | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7169 |
| The First Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9042 |
| The First of Long Island Corp. | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10260 |
| The PNC Financial Services Group, Inc. | &nbsp;&nbsp;6719 | &nbsp;&nbsp;&nbsp;1061199 |
| Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22498 |
| Towne Bank | &nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41788 |
| TriCo Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31716 |
| Triumph Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21649 |
| Truist Financial Corp. | 21803 | &nbsp;&nbsp;&nbsp;&nbsp;938183 |
| Trustmark Corp. | &nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38820 |
| U.S. Bancorp | 24386 | &nbsp;&nbsp;&nbsp;1063473 |
| UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39672 |
| Umpqua Holdings Corp. | &nbsp;&nbsp;3727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66527 |
| United Bankshares, Inc. | &nbsp;&nbsp;2146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86892 |
| United Community Banks, Inc. | &nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57291 |
| Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7270 |
| Univest Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17011 |
| Valley National Bancorp | &nbsp;&nbsp;7874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89055 |
| Veritex Holdings, Inc. | &nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28838 |
| Washington Federal, Inc. | &nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34489 |
| Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15805 |
| Webster Financial Corp. | &nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp;138848 |
| Wells Fargo & Company | 62113 | &nbsp;&nbsp;&nbsp;2564646 |
| WesBanco, Inc. | &nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41344 |
| West BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10476 |
| Western Alliance Bancorp | &nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp;107744 |
| Wintrust Financial Corp. | &nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86887 |
| Zions Bancorp NA | &nbsp;&nbsp;2266 | &nbsp;&nbsp;&nbsp;&nbsp;111397 |
|  |  | 26792353 |
| **Capital markets – 3.4%** | **Capital markets – 3.4%** |  |
| Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;100920 |
| AllianceBernstein Holding LP | &nbsp;&nbsp;1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60732 |
| Ameriprise Financial, Inc. | &nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp;554239 |
| Ares Capital Corp. (B) | &nbsp;&nbsp;8460 | &nbsp;&nbsp;&nbsp;&nbsp;156256 |
| Ares Management Corp., Class A | &nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;194301 |
| Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;1162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34511 |
| AssetMark Financial Holdings, Inc. (A) | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29394 |
| Associated Capital Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5459 |
| Bain Capital Specialty Finance, Inc. | &nbsp;&nbsp;1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14161 |
| Barings BDC, Inc. | &nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15697 |
| BGC Partners, Inc., Class A | &nbsp;&nbsp;5719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21561 |
| BlackRock Capital Investment Corp. | &nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7352 |
| BlackRock TCP Capital Corp. | &nbsp;&nbsp;1134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14674 |
| BlackRock, Inc. | &nbsp;&nbsp;2484 | &nbsp;&nbsp;&nbsp;1760237 |
| Blucora, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21956 |
| Blue Owl Capital, Inc. | &nbsp;&nbsp;6668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70681 |
| Bridge Investment Group Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7435 |
| Brightsphere Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8541 |
| Capital Southwest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7610 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Carlyle Secured Lending, Inc. | &nbsp;&nbsp;1003 | $&nbsp;&nbsp;&nbsp;&nbsp;14353 |
| Cboe Global Markets, Inc. | &nbsp;&nbsp;1755 | &nbsp;&nbsp;&nbsp;&nbsp;220200 |
| CION Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3003 |
| CME Group, Inc. | &nbsp;&nbsp;5903 | &nbsp;&nbsp;&nbsp;&nbsp;992648 |
| Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;53262 |
| Coinbase Global, Inc., Class A (A)(B) | &nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;&nbsp;103162 |
| Cowen, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;16220 |
| Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;12026 |
| Donnelley Financial Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;20137 |
| Ellington Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;10886 |
| Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;71338 |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;249151 |
| Federated Hermes, Inc. | &nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;54755 |
| Fidus Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;10219 |
| Focus Financial Partners, Inc., Class A (A) | &nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;42451 |
| Forge Global Holdings, Inc. (A) | &nbsp;&nbsp;2536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4387 |
| Franklin Resources, Inc. (B) | &nbsp;&nbsp;8252 | &nbsp;&nbsp;&nbsp;&nbsp;217688 |
| FS KKR Capital Corp. | &nbsp;&nbsp;3957 | &nbsp;&nbsp;&nbsp;&nbsp;69248 |
| GAMCO Investors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859 |
| GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651 |
| Gladstone Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7706 |
| Gladstone Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9553 |
| Goldman Sachs BDC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp;13267 |
| Golub Capital BDC, Inc. | &nbsp;&nbsp;1790 | &nbsp;&nbsp;&nbsp;&nbsp;23556 |
| Greenhill & Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 |
| Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;41139 |
| Hercules Capital, Inc. | &nbsp;&nbsp;2213 | &nbsp;&nbsp;&nbsp;&nbsp;29256 |
| Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;72779 |
| Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp;116628 |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;9171 | &nbsp;&nbsp;&nbsp;&nbsp;940853 |
| Invesco, Ltd. | &nbsp;&nbsp;7563 | &nbsp;&nbsp;&nbsp;&nbsp;136058 |
| Jefferies Financial Group, Inc. | &nbsp;&nbsp;3867 | &nbsp;&nbsp;&nbsp;&nbsp;132561 |
| KKR & Company, Inc. | 14170 | &nbsp;&nbsp;&nbsp;&nbsp;657771 |
| Lazard, Ltd., Class A | &nbsp;&nbsp;1871 | &nbsp;&nbsp;&nbsp;&nbsp;64868 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;283831 |
| Main Street Capital Corp. | &nbsp;&nbsp;1267 | &nbsp;&nbsp;&nbsp;&nbsp;46816 |
| MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;174585 |
| MidCap Financial Investment Corp. | &nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp;14045 |
| Moelis & Company, Class A | &nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;41670 |
| Monroe Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4791 |
| Moody's Corp. | &nbsp;&nbsp;3007 | &nbsp;&nbsp;&nbsp;&nbsp;837810 |
| Morgan Stanley | 28133 | 2391868 |
| Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;152263 |
| MSCI, Inc. | &nbsp;&nbsp;1319 | &nbsp;&nbsp;&nbsp;&nbsp;613559 |
| Nasdaq, Inc. | &nbsp;&nbsp;8080 | &nbsp;&nbsp;&nbsp;&nbsp;495708 |
| New Mountain Finance Corp. | &nbsp;&nbsp;1898 | &nbsp;&nbsp;&nbsp;&nbsp;23478 |
| Newtek Business Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7751 |
| Northern Trust Corp. | &nbsp;&nbsp;3158 | &nbsp;&nbsp;&nbsp;&nbsp;279451 |
| Oaktree Specialty Lending Corp. | &nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp;17306 |
| Open Lending Corp., Class A (A) | &nbsp;&nbsp;2053 | &nbsp;&nbsp;&nbsp;&nbsp;13858 |
| Oppenheimer Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7154 |
| Owl Rock Capital Corp. | &nbsp;&nbsp;5531 | &nbsp;&nbsp;&nbsp;&nbsp;63883 |
| Oxford Square Capital Corp. | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4402 |
| P10, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5442 |
| P10, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7096 |
| PennantPark Floating Rate Capital, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9597 |
| PennantPark Investment Corp. | &nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9453 |
| Perella Weinberg Partners | &nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7987 |
| Piper Sandler Companies | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;39187 |
| Portman Ridge Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6026 |
| Prospect Capital Corp. (B) | &nbsp;&nbsp;7037 | &nbsp;&nbsp;&nbsp;&nbsp;49189 |
| Raymond James Financial, Inc. | &nbsp;&nbsp;3553 | &nbsp;&nbsp;&nbsp;&nbsp;379638 |
| Robinhood Markets, Inc., Class A (A) | 12450 | &nbsp;&nbsp;&nbsp;&nbsp;101343 |
| Runway Growth Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982 |
| S&P Global, Inc. | &nbsp;&nbsp;5424 | 1816715 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 174 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Capital markets (continued)** | **Capital markets (continued)** |  |
| Sculptor Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;537 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 |
| SEI Investments Company | &nbsp;&nbsp;2276 | &nbsp;&nbsp;&nbsp;&nbsp;132691 |
| Sixth Street Specialty Lending, Inc. | &nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26397 |
| SLR Investment Corp. | &nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15690 |
| State Street Corp. | &nbsp;&nbsp;6048 | &nbsp;&nbsp;&nbsp;&nbsp;469143 |
| Stellus Capital Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6206 |
| StepStone Group, Inc., Class A | &nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27950 |
| Stifel Financial Corp. | &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;103665 |
| StoneX Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33450 |
| T. Rowe Price Group, Inc. | &nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp;409084 |
| The Bank of New York Mellon Corp. | 13276 | &nbsp;&nbsp;&nbsp;&nbsp;604324 |
| The Blackstone Group, Inc. | 11514 | &nbsp;&nbsp;&nbsp;&nbsp;854224 |
| The Carlyle Group, Inc. | &nbsp;&nbsp;5983 | &nbsp;&nbsp;&nbsp;&nbsp;178533 |
| The Charles Schwab Corp. | 29805 | &nbsp;&nbsp;&nbsp;2481564 |
| The Goldman Sachs Group, Inc. | &nbsp;&nbsp;5623 | &nbsp;&nbsp;&nbsp;1930826 |
| TPG, Inc. | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34593 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;&nbsp;116355 |
| Trinity Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 |
| TriplePoint Venture Growth BDC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5924 |
| Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;1233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33081 |
| Virtu Financial, Inc., Class A | &nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36085 |
| Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24504 |
| WhiteHorse Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7269 |
| WisdomTree, Inc. | &nbsp;&nbsp;2831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15429 |
|  |  | 22961932 |
| **Consumer finance – 0.6%** | **Consumer finance – 0.6%** |  |
| Ally Financial, Inc. | &nbsp;&nbsp;5108 | &nbsp;&nbsp;&nbsp;&nbsp;124891 |
| American Express Company | 12295 | &nbsp;&nbsp;&nbsp;1816586 |
| Atlanticus Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6131 |
| Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30241 |
| Capital One Financial Corp. | &nbsp;&nbsp;6305 | &nbsp;&nbsp;&nbsp;&nbsp;586113 |
| Consumer Portfolio Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991 |
| Credit Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;101996 |
| Curo Group Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931 |
| Discover Financial Services | &nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp;&nbsp;439257 |
| Elevate Credit, Inc. (A) | &nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170 |
| Encore Capital Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19751 |
| Enova International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21602 |
| EZCORP, Inc., Class A (A) | &nbsp;&nbsp;1126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9177 |
| FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68485 |
| Green Dot Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15472 |
| LendingTree, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5503 |
| Medallion Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 |
| Navient Corp. | &nbsp;&nbsp;2396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39414 |
| Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33305 |
| NerdWallet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6106 |
| OneMain Holdings, Inc. | &nbsp;&nbsp;2087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69518 |
| Oportun Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 |
| PRA Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23680 |
| PROG Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14728 |
| Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5756 |
| SLM Corp. | &nbsp;&nbsp;4213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69936 |
| SoFi Technologies, Inc. (A) | 14760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68044 |
| Sunlight Financial Holdings, Inc. (A)(B) | &nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 |
| Synchrony Financial | &nbsp;&nbsp;7930 | &nbsp;&nbsp;&nbsp;&nbsp;260580 |
| Upstart Holdings, Inc. (A)(B) | &nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18230 |
| World Acceptance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177 |
|  |  | &nbsp;&nbsp;&nbsp;3874021 |
| **Diversified financial services – 1.8%** | **Diversified financial services – 1.8%** |  |
| Acacia Research Corp. (A) | &nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597 |
| Apollo Global Management, Inc. | &nbsp;&nbsp;9299 | &nbsp;&nbsp;&nbsp;&nbsp;593183 |
| Berkshire Hathaway, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;4687110 |
| Berkshire Hathaway, Inc., Class B (A) | 21400 | &nbsp;&nbsp;&nbsp;6610460 |
| Cannae Holdings, Inc. (A) | &nbsp;&nbsp;1126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23252 |
| Equitable Holdings, Inc. | &nbsp;&nbsp;6289 | &nbsp;&nbsp;&nbsp;&nbsp;180494 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Diversified financial services (continued)** | **Diversified financial services (continued)** |  |
| Jackson Financial, Inc., Class A | &nbsp;&nbsp;1308 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45505 |
| Voya Financial, Inc. | &nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp;103119 |
|  |  | 12247720 |
| **Insurance – 2.0%** | **Insurance – 2.0%** |  |
| Aflac, Inc. | 10455 | &nbsp;&nbsp;&nbsp;&nbsp;752133 |
| American Equity Investment Life Holding Company | &nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58302 |
| American Financial Group, Inc. | &nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp;191780 |
| American International Group, Inc. | 12565 | &nbsp;&nbsp;&nbsp;&nbsp;794611 |
| AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21412 |
| Arch Capital Group, Ltd. (A) | &nbsp;&nbsp;6154 | &nbsp;&nbsp;&nbsp;&nbsp;386348 |
| Argo Group International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17733 |
| Arthur J. Gallagher & Company | &nbsp;&nbsp;3462 | &nbsp;&nbsp;&nbsp;&nbsp;652725 |
| Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;112429 |
| Assured Guaranty, Ltd. | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68797 |
| Axis Capital Holdings, Ltd. | &nbsp;&nbsp;1485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80442 |
| Bright Health Group, Inc. (A) | 10245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6658 |
| Brighthouse Financial, Inc. (A) | &nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63370 |
| Brown & Brown, Inc. | &nbsp;&nbsp;4675 | &nbsp;&nbsp;&nbsp;&nbsp;266335 |
| BRP Group, Inc., Class A (A) | &nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26774 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;2656 | &nbsp;&nbsp;&nbsp;&nbsp;271948 |
| Citizens, Inc. (A) | &nbsp;&nbsp;1370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2918 |
| CNA Financial Corp. | &nbsp;&nbsp;4636 | &nbsp;&nbsp;&nbsp;&nbsp;196010 |
| CNO Financial Group, Inc. | &nbsp;&nbsp;2084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47619 |
| Crawford & Company, Class B | &nbsp;&nbsp;1283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6813 |
| Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11161 |
| eHealth, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372 |
| Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25619 |
| Enstar Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51522 |
| Erie Indemnity Company, Class A | &nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp;190022 |
| Everest Re Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp;205056 |
| F&G Annuities & Life, Inc. (A) | &nbsp;&nbsp;1837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36758 |
| Fidelity National Financial, Inc. | &nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp;177491 |
| First American Financial Corp. | &nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95206 |
| Genworth Financial, Inc., Class A (A) | &nbsp;&nbsp;7530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39834 |
| Global Indemnity Group LLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793 |
| Globe Life, Inc. | &nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp;177329 |
| GoHealth, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526 |
| Goosehead Insurance, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12603 |
| Hagerty, Inc., Class A (A) | &nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14230 |
| HCI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6730 |
| Heritage Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321 |
| Hippo Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4923 |
| Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32512 |
| Investors Title Company | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7378 |
| Kemper Corp. | &nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56531 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;103039 |
| Lemonade, Inc. (A) | &nbsp;&nbsp;1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15732 |
| Lincoln National Corp. | &nbsp;&nbsp;2877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88381 |
| Loews Corp. | &nbsp;&nbsp;4094 | &nbsp;&nbsp;&nbsp;&nbsp;238803 |
| Maiden Holdings, Ltd. (A) | &nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435 |
| Markel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;279308 |
| Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;8184 | &nbsp;&nbsp;&nbsp;1354288 |
| MBIA, Inc. (A) | &nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13493 |
| Mercury General Corp. | &nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34645 |
| MetLife, Inc. | 13182 | &nbsp;&nbsp;&nbsp;&nbsp;953981 |
| Midwest Holding, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 |
| National Western Life Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9835 |
| NI Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8506 |
| Old Republic International Corp. | &nbsp;&nbsp;5164 | &nbsp;&nbsp;&nbsp;&nbsp;124711 |
| Oscar Health, Inc., Class A (A) | &nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8061 |
| Palomar Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21045 |
| Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92183 |
| Principal Financial Group, Inc. | &nbsp;&nbsp;4103 | &nbsp;&nbsp;&nbsp;&nbsp;344324 |
| ProAssurance Corp. | &nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 175 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Prudential Financial, Inc. | 6165 | $&nbsp;&nbsp;&nbsp;&nbsp;613171 |
| Reinsurance Group of America, Inc. | 1147 | &nbsp;&nbsp;&nbsp;&nbsp;162977 |
| RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;133567 |
| RLI Corp. | &nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;103703 |
| Root, Inc., Class A (A) | &nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028 |
| Ryan Specialty Holdings, Inc. (A) | 1884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78205 |
| Safety Insurance Group, Inc. | &nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27216 |
| Selective Insurance Group, Inc. | 1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91977 |
| Stewart Information Services Corp. | &nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20810 |
| The Allstate Corp. | 4471 | &nbsp;&nbsp;&nbsp;&nbsp;606268 |
| The Hanover Insurance Group, Inc. | &nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78511 |
| The Hartford Financial Services Group, Inc. | 5233 | &nbsp;&nbsp;&nbsp;&nbsp;396818 |
| The Progressive Corp. | 9663 | &nbsp;&nbsp;&nbsp;1253388 |
| The Travelers Companies, Inc. | 3943 | &nbsp;&nbsp;&nbsp;&nbsp;739273 |
| Trean Insurance Group, Inc. (A) | &nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608 |
| Trupanion, Inc. (A) | &nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33556 |
| United Fire Group, Inc. | &nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14939 |
| Universal Insurance Holdings, Inc. | &nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 |
| Unum Group | 3145 | &nbsp;&nbsp;&nbsp;&nbsp;129039 |
| W.R. Berkley Corp. | 4455 | &nbsp;&nbsp;&nbsp;&nbsp;323299 |
| White Mountains Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52330 |
|  |  | 13759852 |
| **Mortgage real estate investment trusts – 0.1%** | **Mortgage real estate investment trusts – 0.1%** |  |
| AG Mortgage Investment Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 |
| AGNC Investment Corp. | 7978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82572 |
| Angel Oak Mortgage, Inc. | &nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757 |
| Annaly Capital Management, Inc. | 6736 | &nbsp;&nbsp;&nbsp;&nbsp;141995 |
| Apollo Commercial Real Estate Finance, Inc. | 2544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27373 |
| Arbor Realty Trust, Inc. | 2539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33489 |
| Ares Commercial Real Estate Corp. | &nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8119 |
| ARMOUR Residential REIT, Inc. | 1413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7955 |
| Blackstone Mortgage Trust, Inc., Class A | 2768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58599 |
| BrightSpire Capital, Inc. | 2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16129 |
| Broadmark Realty Capital, Inc. | 2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7779 |
| Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643 |
| Chimera Investment Corp. | 3772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20746 |
| Claros Mortgage Trust, Inc. | 1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29214 |
| Dynex Capital, Inc. | &nbsp;&nbsp;611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772 |
| Ellington Residential Mortgage REIT | &nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231 |
| Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11494 |
| Granite Point Mortgage Trust, Inc. | 1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923 |
| Great Ajax Corp. | &nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4009 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 1402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40630 |
| Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4481 |
| KKR Real Estate Finance Trust, Inc. | 1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15133 |
| Ladder Capital Corp. | 2439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24488 |
| MFA Financial, Inc. | 1816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17888 |
| New York Mortgage Trust, Inc. | 5225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13376 |
| Orchid Island Capital, Inc. | &nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3434 |
| PennyMac Mortgage Investment Trust | 1708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21162 |
| Ready Capital Corp. | 1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16766 |
| Redwood Trust, Inc. | 2127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14379 |
| Rithm Capital Corp. | 7947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64927 |
| Starwood Property Trust, Inc. | 5131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94051 |
| TPG RE Finance Trust, Inc. | 1656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11244 |
| Two Harbors Investment Corp. | 1453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22914 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;834097 |
| **Thrifts and mortgage finance – 0.1%** | **Thrifts and mortgage finance – 0.1%** |  |
| Axos Financial, Inc. (A) | 1046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39978 |
| Bridgewater Bancshares, Inc. (A) | &nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11620 |
| Capitol Federal Financial, Inc. | 1954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16902 |
| Columbia Financial, Inc. (A) | 1909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41273 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Thrifts and mortgage finance (continued)** | **Thrifts and mortgage finance (continued)** |  |
| Enact Holdings, Inc. | &nbsp;&nbsp;2321 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55983 |
| Federal Agricultural Mortgage Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19499 |
| Federal National Mortgage Association (A) | 20974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7412 |
| Guild Holdings Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635 |
| Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7406 |
| Kearny Financial Corp. | &nbsp;&nbsp;1435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14565 |
| Luther Burbank Corp. | &nbsp;&nbsp;1133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12588 |
| Merchants Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20161 |
| MGIC Investment Corp. | &nbsp;&nbsp;5336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69368 |
| New York Community Bancorp, Inc. | &nbsp;&nbsp;8838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76007 |
| NMI Holdings, Inc., Class A (A) | &nbsp;&nbsp;1463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30577 |
| Northfield Bancorp, Inc. | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15730 |
| Ocwen Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5046 |
| PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46688 |
| Ponce Financial Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6543 |
| Provident Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 |
| Provident Financial Services, Inc. | &nbsp;&nbsp;1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21766 |
| Radian Group, Inc. | &nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54788 |
| Rocket Companies, Inc., Class A (B) | &nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13720 |
| Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9441 |
| Sterling Bancorp, Inc. (A) | &nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 |
| Territorial Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5714 |
| TFS Financial Corp. | &nbsp;&nbsp;3937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56732 |
| Timberland Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2696 |
| TrustCo Bank Corp. NY | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15036 |
| UWM Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638 |
| Velocity Financial, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 |
| Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44420 |
| Western New England Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6168 |
| WSFS Financial Corp. | &nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;790981 |
|  |  | 81260956 |
| **Health care – 14.5%** |  |  |
| **Biotechnology – 2.9%** | **Biotechnology – 2.9%** |  |
| 2seventy bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6072 |
| 4D Molecular Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11882 |
| 89bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10426 |
| Aadi Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5055 |
| AbbVie, Inc. | 28973 | &nbsp;&nbsp;&nbsp;4682327 |
| Abeona Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862 |
| Absci Corp. (A) | &nbsp;&nbsp;1544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242 |
| ACADIA Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43700 |
| Achieve Life Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 |
| Achillion Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;3410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5128 |
| Acumen Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197 |
| Acurx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190 |
| Adicet Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5927 |
| Aduro Biotech, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 |
| Aerovate Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11456 |
| Agenus, Inc. (A) | &nbsp;&nbsp;4630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11112 |
| Agios Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27210 |
| Akero Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41319 |
| Akouos, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 |
| Albireo Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6505 |
| Aldeyra Therapeutics, Inc. (A) | &nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7920 |
| Alector, Inc. (A) | &nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13919 |
| Alkermes PLC (A) | &nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72458 |
| Allakos, Inc. (A) | &nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11384 |
| Allogene Therapeutics, Inc. (A) | &nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16285 |
| Allovir, Inc. (A) | &nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7592 |
| Alnylam Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1971 | &nbsp;&nbsp;&nbsp;&nbsp;468408 |
| Alpine Immune Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5255 |
| Altimmune, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13176 |
| ALX Oncology Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7427 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 176 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Ambit Biosciences Corp. (A)(C) | &nbsp;&nbsp;515 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 |
| Amgen, Inc. | 8764 | 2301777 |
| Amicus Therapeutics, Inc. (A) | 4686 | &nbsp;&nbsp;&nbsp;&nbsp;57216 |
| AnaptysBio, Inc. (A) | &nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;16425 |
| Anika Therapeutics, Inc. (A) | &nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8525 |
| Anixa Biosciences, Inc. (A) | &nbsp;&nbsp;386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641 |
| Annexon, Inc. (A) | &nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4632 |
| Annovis Bio, Inc. (A) | &nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 |
| Apellis Pharmaceuticals, Inc. (A) | 1786 | &nbsp;&nbsp;&nbsp;&nbsp;92354 |
| Apexigen, Inc. (A) | &nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 |
| Aptevo Therapeutics, Inc. (A) | &nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 |
| ARCA biopharma, Inc. (A) | &nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411 |
| Arcellx, Inc. (A) | &nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;&nbsp;21903 |
| Arcus Biosciences, Inc. (A) | 1192 | &nbsp;&nbsp;&nbsp;&nbsp;24651 |
| Arcutis Biotherapeutics, Inc. (A) | 1116 | &nbsp;&nbsp;&nbsp;&nbsp;16517 |
| Ardelyx, Inc. (A) | 3046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8681 |
| Arrowhead Pharmaceuticals, Inc. (A) | 1775 | &nbsp;&nbsp;&nbsp;&nbsp;71994 |
| ARS Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6858 |
| Assembly Biosciences, Inc. (A) | &nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 |
| Astria Therapeutics, Inc. (A) | &nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 |
| Atara Biotherapeutics, Inc. (A) | 1915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6281 |
| aTyr Pharma, Inc. (A) | &nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 |
| Aura Biosciences, Inc. (A) | &nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5576 |
| Avalo Therapeutics, Inc. (A) | &nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843 |
| AVEO Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9568 |
| Avid Bioservices, Inc. (A) | &nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;13660 |
| Avidity Biosciences, Inc. (A) | &nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;18373 |
| Beam Therapeutics, Inc. (A) | 1146 | &nbsp;&nbsp;&nbsp;&nbsp;44820 |
| BioAtla, Inc. (A) | &nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7194 |
| BioCryst Pharmaceuticals, Inc. (A) | 2966 | &nbsp;&nbsp;&nbsp;&nbsp;34050 |
| Biogen, Inc. (A) | 2381 | &nbsp;&nbsp;&nbsp;&nbsp;659347 |
| Biohaven, Ltd. (A) | 1091 | &nbsp;&nbsp;&nbsp;&nbsp;15143 |
| BioMarin Pharmaceutical, Inc. (A) | 3057 | &nbsp;&nbsp;&nbsp;&nbsp;316369 |
| Biomea Fusion, Inc. (A) | &nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577 |
| Bioxcel Therapeutics, Inc. (A) | &nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9881 |
| Black Diamond Therapeutics, Inc. (A) | &nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 |
| Bluebird Bio, Inc. (A) | 1199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8297 |
| Blueprint Medicines Corp. (A) | 1002 | &nbsp;&nbsp;&nbsp;&nbsp;43898 |
| Bolt Biotherapeutics, Inc. (A) | 1138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479 |
| Bridgebio Pharma, Inc. (A) | 2543 | &nbsp;&nbsp;&nbsp;&nbsp;19378 |
| C4 Therapeutics, Inc. (A) | &nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455 |
| Cabaletta Bio, Inc. (A) | &nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5273 |
| Calithera Biosciences, Inc. (A) | &nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 |
| Candel Therapeutics, Inc. (A) | &nbsp;&nbsp;599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 |
| Capricor Therapeutics, Inc. (A) | &nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2891 |
| Cardiff Oncology, Inc. (A) | 1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842 |
| CareDx, Inc. (A) | &nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;10155 |
| Caribou Biosciences, Inc. (A) | &nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878 |
| CASI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 |
| Catalyst Pharmaceuticals, Inc. (A) | 1738 | &nbsp;&nbsp;&nbsp;&nbsp;32327 |
| Celcuity, Inc. (A) | &nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830 |
| Celldex Therapeutics, Inc. (A) | &nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;34230 |
| Cellectar Biosciences, Inc. (A) | &nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 |
| CEL-SCI Corp. (A)(B) | &nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842 |
| Celularity, Inc. (A) | 2334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011 |
| Century Therapeutics, Inc. (A) | &nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4304 |
| Cerevel Therapeutics Holdings, Inc. (A) | 2518 | &nbsp;&nbsp;&nbsp;&nbsp;79418 |
| Checkpoint Therapeutics, Inc. (A) | &nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 |
| Chimerix, Inc. (A) | 1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962 |
| Chinook Therapeutics, Inc. (A) | &nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;25283 |
| Cogent Biosciences, Inc. (A) | 1064 | &nbsp;&nbsp;&nbsp;&nbsp;12300 |
| Coherus Biosciences, Inc. (A) | 1434 | &nbsp;&nbsp;&nbsp;&nbsp;11357 |
| Comera Life Sciences Holdings, Inc. (A) | &nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 |
| Concert Pharmaceuticals, Inc. (A) | 1064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214 |
| Crinetics Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;797 | &nbsp;&nbsp;&nbsp;&nbsp;14585 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| CTI BioPharma Corp. (A) | &nbsp;&nbsp;2288 | $&nbsp;&nbsp;&nbsp;&nbsp;13751 |
| Cue Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1892 |
| Cullinan Oncology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6668 |
| Cyteir Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 |
| Cytokinetics, Inc. (A) | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;69234 |
| CytomX Therapeutics, Inc. (A) | &nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907 |
| Day One Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;1178 | &nbsp;&nbsp;&nbsp;&nbsp;25351 |
| Decibel Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113 |
| Deciphera Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;17046 |
| Denali Therapeutics, Inc. (A) | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;61182 |
| Design Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8659 |
| Disc Medicine, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 |
| Dominari Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637 |
| Dynavax Technologies Corp. (A) | &nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;21099 |
| Dyne Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp;10802 |
| Eagle Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7571 |
| Editas Medicine, Inc. (A) | &nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;10138 |
| Eiger BioPharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734 |
| Eledon Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814 |
| Emergent BioSolutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;10877 |
| Enanta Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;17212 |
| Entrada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6611 |
| EQRx, Inc. (A) | &nbsp;&nbsp;7952 | &nbsp;&nbsp;&nbsp;&nbsp;19562 |
| Equillium, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 |
| Erasca, Inc. (A) | &nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8452 |
| Evelo Biosciences, Inc. (A) | &nbsp;&nbsp;2584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160 |
| Exact Sciences Corp. (A) | &nbsp;&nbsp;2925 | &nbsp;&nbsp;&nbsp;&nbsp;144817 |
| Exagen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 |
| Exelixis, Inc. (A) | &nbsp;&nbsp;5369 | &nbsp;&nbsp;&nbsp;&nbsp;86119 |
| Fate Therapeutics, Inc. (A) | &nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;16225 |
| Fennec Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678 |
| FibroGen, Inc. (A) | &nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;26273 |
| Flexion Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 |
| Foghorn Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4440 |
| Frequency Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3715 |
| F-star Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3666 |
| G1 Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485 |
| Gain Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 |
| Galectin Therapeutics, Inc. (A) | &nbsp;&nbsp;1506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 |
| Galera Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1438 |
| Gemini Therapeutics Sub, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Generation Bio Company (A) | &nbsp;&nbsp;1161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4563 |
| Genprex, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 |
| Geron Corp. (A) | &nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp;14428 |
| Gilead Sciences, Inc. | 20538 | 1763187 |
| GlycoMimetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827 |
| Gossamer Bio, Inc. (A) | &nbsp;&nbsp;1668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3620 |
| Graphite Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951 |
| GreenLight Biosciences Holdings PBC (A) | &nbsp;&nbsp;2453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895 |
| Greenwich Lifesciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177 |
| Gritstone bio, Inc. (A) | &nbsp;&nbsp;1336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4609 |
| GTX Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Halozyme Therapeutics, Inc. (A) | &nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;129903 |
| Heron Therapeutics, Inc. (A) | &nbsp;&nbsp;1826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4565 |
| HilleVax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8817 |
| Homology Medicines, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259 |
| Horizon Therapeutics PLC (A) | &nbsp;&nbsp;3784 | &nbsp;&nbsp;&nbsp;&nbsp;430619 |
| Humacyte, Inc. (A) | &nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437 |
| Icosavax, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256 |
| Ideaya Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp;13882 |
| IGM Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458 |
| Imago Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;19880 |
| Immuneering Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751 |
| Immunic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238 |
| ImmunityBio, Inc. (A) | &nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;33523 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 177 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| ImmunoGen, Inc. (A) | &nbsp;&nbsp;3506 | $&nbsp;&nbsp;&nbsp;&nbsp;17390 |
| Immunome, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111 |
| Immunovant, Inc. (A) | &nbsp;&nbsp;2107 | &nbsp;&nbsp;&nbsp;&nbsp;37399 |
| Impel Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946 |
| Imunon, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 |
| IN8bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351 |
| Incyte Corp. (A) | &nbsp;&nbsp;3667 | &nbsp;&nbsp;&nbsp;&nbsp;294533 |
| Inhibrx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;704 | &nbsp;&nbsp;&nbsp;&nbsp;17347 |
| Inmune Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2910 |
| Inovio Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6115 |
| Inozyme Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 |
| Insmed, Inc. (A) | &nbsp;&nbsp;2162 | &nbsp;&nbsp;&nbsp;&nbsp;43197 |
| Instil Bio, Inc. (A) | &nbsp;&nbsp;2107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327 |
| Intellia Therapeutics, Inc. (A) | &nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;48148 |
| Intercept Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 |
| Invivyd, Inc. (A) | &nbsp;&nbsp;1879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2819 |
| Ionis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp;89251 |
| Iovance Biotherapeutics, Inc. (A) | &nbsp;&nbsp;2539 | &nbsp;&nbsp;&nbsp;&nbsp;16224 |
| Ironwood Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2657 | &nbsp;&nbsp;&nbsp;&nbsp;32920 |
| iTeos Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;10820 |
| IVERIC bio, Inc. (A) | &nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;46631 |
| Janux Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8495 |
| KalVista Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663 |
| Karuna Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;107093 |
| Keros Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;21081 |
| Kezar Life Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6998 |
| Kiniksa Pharmaceuticals, Ltd., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9527 |
| Kinnate Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 |
| Kodiak Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6437 |
| Kronos Bio, Inc. (A) | &nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780 |
| Krystal Biotech, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;31292 |
| Kura Oncology, Inc. (A) | &nbsp;&nbsp;1043 | &nbsp;&nbsp;&nbsp;&nbsp;12944 |
| Kymera Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;22090 |
| Lantern Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 |
| Larimar Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2709 |
| Lexicon Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;2952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638 |
| Lineage Cell Therapeutics, Inc. (A) | &nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241 |
| Lumos Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 |
| Lyell Immunopharma, Inc. (A) | &nbsp;&nbsp;3975 | &nbsp;&nbsp;&nbsp;&nbsp;13793 |
| MacroGenics, Inc. (A) | &nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8059 |
| Madrigal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;82721 |
| Magenta Therapeutics, Inc. (A) | &nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955 |
| MannKind Corp. (A) | &nbsp;&nbsp;4112 | &nbsp;&nbsp;&nbsp;&nbsp;21670 |
| MeiraGTx Holdings PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4551 |
| Merrimack Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338 |
| Mersana Therapeutics, Inc. (A) | &nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9177 |
| Mirati Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;40870 |
| Mirum Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;12675 |
| Moderna, Inc. (A) | &nbsp;&nbsp;6413 | 1151903 |
| Moleculin Biotech, Inc. (A) | &nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704 |
| Monte Rosa Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6674 |
| Morphic Holding, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;687 | &nbsp;&nbsp;&nbsp;&nbsp;18377 |
| Myriad Genetics, Inc. (A) | &nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;20183 |
| Natera, Inc. (A) | &nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp;71181 |
| Neurocrine Biosciences, Inc. (A) | &nbsp;&nbsp;1582 | &nbsp;&nbsp;&nbsp;&nbsp;188954 |
| NextCure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 |
| NightHawk Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 |
| Nkarta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331 |
| Northwest Biotherapeutics, Inc. (A) | 11656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9144 |
| Novavax, Inc. (A) | &nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp;13426 |
| Nurix Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8367 |
| Nuvalent, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;24747 |
| Ocugen, Inc. (A) | &nbsp;&nbsp;3716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4831 |
| Olema Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649 |
| Omega Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4945 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Omthera Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;498 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Organogenesis Holdings, Inc. (A) | 2172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5843 |
| Orgenesis, Inc. (A) | &nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946 |
| ORIC Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4376 |
| Ovid therapeutics, Inc. (A) | &nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730 |
| Oyster Point Pharma, Inc. (A) | &nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5384 |
| Palatin Technologies, Inc. (A) | &nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274 |
| PDL BioPharma, Inc. (A)(C) | 1734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2029 |
| PDS Biotechnology Corp. (A) | &nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7484 |
| PepGen, Inc. (A) | &nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027 |
| PMV Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6342 |
| Point Biopharma Global, Inc. (A) | 1690 | &nbsp;&nbsp;&nbsp;&nbsp;12320 |
| Poseida Therapeutics, Inc. (A) | 1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8406 |
| Praxis Precision Medicines, Inc. (A) | 1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3142 |
| Precigen, Inc. (A) | 3305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5024 |
| Precision BioSciences, Inc. (A) | 1970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344 |
| Prelude Therapeutics, Inc. (A) | &nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4790 |
| Progenics Pharmaceuticals, Inc. (A)(C) | 1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 |
| ProKidney Corp. (A)(B) | &nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6572 |
| Prometheus Biosciences, Inc. (A) | &nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;75240 |
| Protagonist Therapeutics, Inc. (A) | &nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8630 |
| Protara Therapeutics, Inc. (A) | &nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997 |
| PTC Therapeutics, Inc. (A) | 1210 | &nbsp;&nbsp;&nbsp;&nbsp;46186 |
| Puma Biotechnology, Inc. (A) | &nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765 |
| Pyxis Oncology, Inc. (A) | &nbsp;&nbsp;679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 |
| Rallybio Corp. (A) | &nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 |
| RAPT Therapeutics, Inc. (A) | &nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;10751 |
| Recursion Pharmaceuticals, Inc., Class A (A) | 2871 | &nbsp;&nbsp;&nbsp;&nbsp;22135 |
| Regeneron Pharmaceuticals, Inc. (A) | 1757 | 1267658 |
| REGENXBIO, Inc. (A) | &nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp;17486 |
| Regulus Therapeutics, Inc. (A) | 1203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 |
| Relay Therapeutics, Inc. (A) | 1927 | &nbsp;&nbsp;&nbsp;&nbsp;28789 |
| Reneo Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517 |
| Replimune Group, Inc. (A) | &nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp;21162 |
| REVOLUTION Medicines, Inc. (A) | 1395 | &nbsp;&nbsp;&nbsp;&nbsp;33229 |
| Rhythm Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;26820 |
| Rocket Pharmaceuticals, Inc. (A) | 1269 | &nbsp;&nbsp;&nbsp;&nbsp;24834 |
| Sage Therapeutics, Inc. (A) | 1024 | &nbsp;&nbsp;&nbsp;&nbsp;39055 |
| Sana Biotechnology, Inc. (A) | 3178 | &nbsp;&nbsp;&nbsp;&nbsp;12553 |
| Sangamo Therapeutics, Inc. (A) | 2664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8365 |
| Sarepta Therapeutics, Inc. (A) | 1435 | &nbsp;&nbsp;&nbsp;&nbsp;185947 |
| Savara, Inc. (A) | 2744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4253 |
| Scholar Rock Holding Corp. (A) | &nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7584 |
| Seagen, Inc. (A) | 3030 | &nbsp;&nbsp;&nbsp;&nbsp;389385 |
| Selecta Biosciences, Inc. (A) | 2132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409 |
| SELLAS Life Sciences Group, Inc. (A) | &nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986 |
| Sensei Biotherapeutics, Inc. (A) | &nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 |
| Senti Biosciences, Inc. (A) | &nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 |
| Seres Therapeutics, Inc. (A) | 2022 | &nbsp;&nbsp;&nbsp;&nbsp;11323 |
| Shattuck Labs, Inc. (A) | &nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686 |
| Solid Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 |
| Sorrento Therapeutics, Inc. (A) | 7486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 |
| Spero Therapeutics, Inc. (A) | &nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078 |
| SpringWorks Therapeutics, Inc. (A) | &nbsp;&nbsp;998 | &nbsp;&nbsp;&nbsp;&nbsp;25958 |
| SQZ Biotechnologies Company (A) | &nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532 |
| Stoke Therapeutics, Inc. (A) | &nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6664 |
| Sutro Biopharma, Inc. (A) | &nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7013 |
| Syndax Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp;22574 |
| Synergy Pharmaceuticals, Inc. (A)(C) | 6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| Syros Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023 |
| Talaris Therapeutics, Inc. (A) | &nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956 |
| Tango Therapeutics, Inc. (A) | 1408 | &nbsp;&nbsp;&nbsp;&nbsp;10208 |
| Taysha Gene Therapies, Inc. (A) | 1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294 |
| TCR2 Therapeutics, Inc. (A) | 1031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 178 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Tempest Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;96 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| Tenaya Therapeutics, Inc. (A) | &nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253 |
| TG Therapeutics, Inc. (A) | &nbsp;&nbsp;2388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28250 |
| Tracon Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 |
| Travere Therapeutics, Inc. (A) | &nbsp;&nbsp;1004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21114 |
| Trevena, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296 |
| TScan Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115 |
| Twist Bioscience Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21596 |
| Tyra Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5024 |
| Ultragenyx Pharmaceutical, Inc. (A) | &nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54484 |
| United Therapeutics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;&nbsp;207455 |
| UNITY Biotechnology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 |
| UroGen Pharma, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 |
| Vanda Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8624 |
| Vaxart, Inc. (A) | &nbsp;&nbsp;2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957 |
| Vaxcyte, Inc. (A) | &nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61328 |
| Vaxxinity, Inc., Class A (A) | &nbsp;&nbsp;2459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3443 |
| Vera Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8882 |
| Veracyte, Inc. (A) | &nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27527 |
| Vericel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21915 |
| Vertex Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;4210 | &nbsp;&nbsp;&nbsp;1215764 |
| Verve Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18731 |
| Vigil Neuroscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7338 |
| Viking Therapeutics, Inc. (A) | &nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13301 |
| Vir Biotechnology, Inc. (A) | &nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56062 |
| Viracta Therapeutics, Inc. (A) | &nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767 |
| Viridian Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17935 |
| Vor BioPharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5679 |
| Voyager Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386 |
| Werewolf Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 |
| X4 Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 |
| XBiotech, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2671 |
| Xencor, Inc. (A) | &nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27889 |
| Xilio Therapeutics, Inc. (A) | &nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927 |
| XOMA Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4195 |
| Y-mAbs Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4163 |
| Zentalis Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18126 |
|  |  | 19697375 |
| **Health care equipment and supplies – 2.3%** | **Health care equipment and supplies – 2.3%** |  |
| Abbott Laboratories | 28691 | &nbsp;&nbsp;&nbsp;3149985 |
| Abiomed, Inc. (A) | &nbsp;&nbsp;2236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4629 |
| ABIOMED, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 |
| Accuray, Inc. (A) | &nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475 |
| Align Technology, Inc. (A) | &nbsp;&nbsp;1285 | &nbsp;&nbsp;&nbsp;&nbsp;271007 |
| Alphatec Holdings, Inc. (A) | &nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20155 |
| AngioDynamics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10121 |
| Apollo Endosurgery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6371 |
| Apyx Medical Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 |
| Artivion, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8932 |
| AtriCure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35282 |
| Atrion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17902 |
| Avanos Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21756 |
| Axogen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8214 |
| Axonics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47773 |
| Baxter International, Inc. | &nbsp;&nbsp;8263 | &nbsp;&nbsp;&nbsp;&nbsp;421165 |
| Becton, Dickinson and Company | &nbsp;&nbsp;4668 | &nbsp;&nbsp;&nbsp;1187072 |
| Beyond Air, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2654 |
| Bioventus, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553 |
| Boston Scientific Corp. (A) | 23452 | &nbsp;&nbsp;&nbsp;1085124 |
| Butterfly Network, Inc. (A) | &nbsp;&nbsp;2633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6477 |
| Cardiovascular Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10188 |
| Cerus Corp. (A) | &nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11596 |
| ClearPoint Neuro, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372 |
| Co-Diagnostics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759 |
| Conformis, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;512 | $&nbsp;&nbsp;&nbsp;&nbsp;45384 |
| Cutera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp;15344 |
| CVRx, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5230 |
| CytoSorbents Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313 |
| Delcath Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 |
| Dentsply Sirona, Inc. | &nbsp;&nbsp;3560 | &nbsp;&nbsp;&nbsp;&nbsp;113350 |
| DexCom, Inc. (A) | &nbsp;&nbsp;6437 | &nbsp;&nbsp;&nbsp;&nbsp;728926 |
| Edwards Lifesciences Corp. (A) | 10170 | &nbsp;&nbsp;&nbsp;&nbsp;758784 |
| Ekso Bionics Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 |
| Embecta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;24784 |
| Enovis Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;44154 |
| Envista Holdings Corp. (A) | &nbsp;&nbsp;2693 | &nbsp;&nbsp;&nbsp;&nbsp;90673 |
| enVVeno Medical Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203 |
| Establishment Labs Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;27901 |
| Figs, Inc., Class A (A) | &nbsp;&nbsp;2697 | &nbsp;&nbsp;&nbsp;&nbsp;18151 |
| Glaukos Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;34900 |
| Globus Medical, Inc., Class A (A) | &nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;94991 |
| Haemonetics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;66617 |
| Heska Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;10878 |
| Hologic, Inc. (A) | &nbsp;&nbsp;4025 | &nbsp;&nbsp;&nbsp;&nbsp;301110 |
| ICU Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;60157 |
| IDEXX Laboratories, Inc. (A) | &nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;557273 |
| Inari Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;54026 |
| Inogen, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8692 |
| Inspire Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;119139 |
| Insulet Corp. (A) | &nbsp;&nbsp;1141 | &nbsp;&nbsp;&nbsp;&nbsp;335899 |
| Integer Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;37858 |
| Integra LifeSciences Holdings Corp. (A) | &nbsp;&nbsp;1385 | &nbsp;&nbsp;&nbsp;&nbsp;77657 |
| Intuitive Surgical, Inc. (A) | &nbsp;&nbsp;5853 | 1553094 |
| iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6874 |
| iRhythm Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;46929 |
| Lantheus Holdings, Inc. (A) | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;58451 |
| LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;18086 |
| Masimo Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp;128569 |
| Meridian Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;739 | &nbsp;&nbsp;&nbsp;&nbsp;24542 |
| Merit Medical Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp;&nbsp;66665 |
| Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;15956 |
| Microbot Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324 |
| Neogen Corp. (A) | &nbsp;&nbsp;3324 | &nbsp;&nbsp;&nbsp;&nbsp;50625 |
| Neuronetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3779 |
| NeuroPace, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 |
| Nevro Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;23681 |
| NuVasive, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;35714 |
| Omnicell, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp;37462 |
| OraSure Technologies, Inc. (A) | &nbsp;&nbsp;1347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6493 |
| Orthofix Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7945 |
| OrthoPediatrics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;14462 |
| Outset Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;759 | &nbsp;&nbsp;&nbsp;&nbsp;19597 |
| Paragon 28, Inc. (A) | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;21117 |
| Penumbra, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;138815 |
| PROCEPT BioRobotics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;688 | &nbsp;&nbsp;&nbsp;&nbsp;28580 |
| Pulmonx Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965 |
| Pulse Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 |
| QuidelOrtho Corp. (A) | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;94665 |
| ResMed, Inc. | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;499512 |
| Retractable Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 |
| RxSight, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472 |
| SeaSpine Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4935 |
| Senseonics Holdings, Inc. (A)(B) | &nbsp;&nbsp;7349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569 |
| Sensus Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987 |
| Shockwave Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp;121721 |
| SI-BONE, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8840 |
| Sight Sciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9158 |
| Silk Road Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp;31340 |
| Sonendo, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 179 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care equipment and supplies (continued)** | **Health care equipment and supplies (continued)** |  |
| STAAR Surgical Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;802 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38929 |
| Stereotaxis, Inc. (A) | &nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240 |
| Stryker Corp. | &nbsp;&nbsp;6197 | &nbsp;&nbsp;&nbsp;1515105 |
| Surmodics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9485 |
| Tactile Systems Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4764 |
| Tandem Diabetes Care, Inc. (A) | &nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48052 |
| Tela Bio, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2496 |
| Teleflex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;192215 |
| The Cooper Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;265859 |
| TransMedics Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30983 |
| Treace Medical Concepts, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18898 |
| UFP Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10139 |
| Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7439 |
| Vapotherm, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 |
| Varex Imaging Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14352 |
| Vicarious Surgical, Inc. (A) | &nbsp;&nbsp;1697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428 |
| Vivani Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664 |
| Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;&nbsp;438218 |
| Zimvie, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3418 |
|  |  | 15684869 |
| **Health care providers and services – 3.3%** | **Health care providers and services – 3.3%** |  |
| 1Life Healthcare, Inc. (A) | &nbsp;&nbsp;3297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55093 |
| Acadia Healthcare Company, Inc. (A) | &nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;123645 |
| Accolade, Inc. (A) | &nbsp;&nbsp;1133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8826 |
| Aceto Corp. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| AdaptHealth Corp. (A) | &nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41112 |
| Addus HomeCare Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27957 |
| agilon health, Inc. (A) | &nbsp;&nbsp;6679 | &nbsp;&nbsp;&nbsp;&nbsp;107799 |
| AirSculpt Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3127 |
| Alignment Healthcare, Inc. (A) | &nbsp;&nbsp;3052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35892 |
| Amedisys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45529 |
| AmerisourceBergen Corp. | &nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;563083 |
| AMN Healthcare Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73311 |
| Apollo Medical Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28347 |
| Biodesix, Inc. (A) | &nbsp;&nbsp;1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956 |
| Brookdale Senior Living, Inc. (A) | &nbsp;&nbsp;3457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9438 |
| Cardinal Health, Inc. | &nbsp;&nbsp;4465 | &nbsp;&nbsp;&nbsp;&nbsp;343225 |
| CareMax, Inc. (A) | &nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4891 |
| Castle Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9510 |
| Centene Corp. (A) | &nbsp;&nbsp;9378 | &nbsp;&nbsp;&nbsp;&nbsp;769090 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;117399 |
| Cigna Corp. | &nbsp;&nbsp;4997 | &nbsp;&nbsp;&nbsp;1655706 |
| Clover Health Investments Corp. (A) | &nbsp;&nbsp;6044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618 |
| Community Health Systems, Inc. (A) | &nbsp;&nbsp;2429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10493 |
| CorVel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42872 |
| Cross Country Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17403 |
| CVS Health Corp. | 21502 | &nbsp;&nbsp;&nbsp;2003771 |
| DaVita, Inc. (A) | &nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;111930 |
| DocGo, Inc. (A) | &nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10690 |
| Elevance Health, Inc. | &nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;2016485 |
| Encompass Health Corp. | &nbsp;&nbsp;1651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98746 |
| Enhabit, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11844 |
| Fulgent Genetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13997 |
| Guardant Health, Inc. (A) | &nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46648 |
| HCA Healthcare, Inc. | &nbsp;&nbsp;4703 | &nbsp;&nbsp;&nbsp;1128532 |
| HealthEquity, Inc. (A) | &nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85988 |
| Henry Schein, Inc. (A) | &nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp;172439 |
| Humana, Inc. | &nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;1061770 |
| InfuSystem Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 |
| Innovage Holding Corp. (A) | &nbsp;&nbsp;1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14259 |
| Invitae Corp. (A) | &nbsp;&nbsp;4121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7665 |
| Laboratory Corp. of America Holdings | &nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp;349217 |
| LHC Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82947 |
| LifeStance Health Group, Inc. (A) | &nbsp;&nbsp;6301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31127 |
| McKesson Corp. | &nbsp;&nbsp;2353 | &nbsp;&nbsp;&nbsp;&nbsp;882657 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Health care providers and services (continued)** | **Health care providers and services (continued)** |  |
| ModivCare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;241 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21625 |
| Molina Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;314700 |
| National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16541 |
| National Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16039 |
| Oak Street Health, Inc. (A) | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86040 |
| OPKO Health, Inc. (A) | 12549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15686 |
| Option Care Health, Inc. (A) | &nbsp;&nbsp;3024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90992 |
| Owens & Minor, Inc. (A) | &nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25116 |
| P3 Health Partners, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 |
| Patterson Companies, Inc. | &nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45268 |
| Pediatrix Medical Group, Inc. (A) | &nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21220 |
| PetIQ, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302 |
| Premier, Inc., Class A | &nbsp;&nbsp;1861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65098 |
| Privia Health Group, Inc. (A) | &nbsp;&nbsp;1737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39447 |
| Progyny, Inc. (A) | &nbsp;&nbsp;1553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48376 |
| Quest Diagnostics, Inc. | &nbsp;&nbsp;1909 | &nbsp;&nbsp;&nbsp;&nbsp;298644 |
| R1 RCM, Inc. (A) | &nbsp;&nbsp;6807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74537 |
| RadNet, Inc. (A) | &nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18962 |
| Select Medical Holdings Corp. | &nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52193 |
| Signify Health, Inc., Class A (A) | &nbsp;&nbsp;2909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83372 |
| Sonida Senior Living, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 |
| Surgery Partners, Inc. (A) | &nbsp;&nbsp;1891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52683 |
| Tenet Healthcare Corp. (A) | &nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86846 |
| The Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87136 |
| The Joint Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3733 |
| The Oncology Institute, Inc. (A) | &nbsp;&nbsp;1147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 |
| The Pennant Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6259 |
| UnitedHealth Group, Inc. | 15318 | &nbsp;&nbsp;&nbsp;8121297 |
| Universal Health Services, Inc., Class B | &nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;152161 |
| US Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18475 |
| Viemed Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2797 |
|  |  | 22107774 |
| **Health care technology – 0.1%** | **Health care technology – 0.1%** |  |
| Akili, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 |
| Allscripts Healthcare Solutions, Inc. (A) | &nbsp;&nbsp;1873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33040 |
| American Well Corp., Class A (A) | &nbsp;&nbsp;4289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12138 |
| Better Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 |
| CareCloud, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 |
| Certara, Inc. (A) | &nbsp;&nbsp;2677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43019 |
| Computer Programs and Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7921 |
| Definitive Healthcare Corp. (A) | &nbsp;&nbsp;1802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19804 |
| Doximity, Inc., Class A (A) | &nbsp;&nbsp;1839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61717 |
| Evolent Health, Inc., Class A (A) | &nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46332 |
| Forian, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198 |
| GoodRx Holdings, Inc., Class A (A) | &nbsp;&nbsp;1651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7694 |
| Health Catalyst, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8557 |
| HealthStream, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13712 |
| iCAD, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 |
| MultiPlan Corp. (A) | 10977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12624 |
| NextGen Healthcare, Inc. (A) | &nbsp;&nbsp;1192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22386 |
| Nutex Health, Inc. (A)(B) | 10583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20108 |
| Pear Therapeutics, Inc. (A)(B) | &nbsp;&nbsp;2627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 |
| Phreesia, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26891 |
| Schrodinger, Inc. (A) | &nbsp;&nbsp;1079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20167 |
| Sharecare, Inc. (A) | &nbsp;&nbsp;5224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8358 |
| Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13275 |
| Tabula Rasa HealthCare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 |
| Teladoc Health, Inc. (A) | &nbsp;&nbsp;2711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64115 |
| Veeva Systems, Inc., Class A (A) | &nbsp;&nbsp;2303 | &nbsp;&nbsp;&nbsp;&nbsp;371658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;822456 |
| **Life sciences tools and services – 1.7%** | **Life sciences tools and services – 1.7%** |  |
| 10X Genomics, Inc., Class A (A) | &nbsp;&nbsp;1591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57976 |
| Adaptive Biotechnologies Corp. (A) | &nbsp;&nbsp;2555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19520 |
| Agilent Technologies, Inc. | &nbsp;&nbsp;4851 | &nbsp;&nbsp;&nbsp;&nbsp;725952 |
| Alpha Teknova, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 180 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Life sciences tools and services (continued)** | **Life sciences tools and services (continued)** |  |
| Avantor, Inc. (A) | 10899 | $&nbsp;&nbsp;&nbsp;&nbsp;229860 |
| Azenta, Inc. (A) | &nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72950 |
| Berkeley Lights, Inc. (A) | &nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2956 |
| BioLife Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12394 |
| Bionano Genomics, Inc. (A) | &nbsp;&nbsp;4957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7237 |
| Bio-Rad Laboratories, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp;172401 |
| Bio-Techne Corp. | &nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp;214245 |
| Bruker Corp. | &nbsp;&nbsp;2443 | &nbsp;&nbsp;&nbsp;&nbsp;166979 |
| Charles River Laboratories International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp;182818 |
| Codexis, Inc. (A) | &nbsp;&nbsp;1214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5657 |
| CryoPort, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13984 |
| Cytek Biosciences, Inc. (A) | &nbsp;&nbsp;1980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20216 |
| Danaher Corp. | 11917 | &nbsp;&nbsp;&nbsp;3163010 |
| Harvard Bioscience, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 |
| ICON PLC (A) | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331 |
| Illumina, Inc. (A) | &nbsp;&nbsp;2581 | &nbsp;&nbsp;&nbsp;&nbsp;521878 |
| Inotiv, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075 |
| IQVIA Holdings, Inc. (A) | &nbsp;&nbsp;3060 | &nbsp;&nbsp;&nbsp;&nbsp;626963 |
| Maravai LifeSciences Holdings, Inc., Class A (A) | &nbsp;&nbsp;2206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31568 |
| Medpace Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;109179 |
| Mettler-Toledo International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;369 | &nbsp;&nbsp;&nbsp;&nbsp;533371 |
| Miromatrix Medical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 |
| NanoString Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6129 |
| NeoGenomics, Inc. (A) | &nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20374 |
| OmniAb, Inc. (A) | &nbsp;&nbsp;1514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5450 |
| OmniAb, Inc., Earnout Shares (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc., Earnout Shares (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Pacific Biosciences of California, Inc. (A) | &nbsp;&nbsp;3737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30569 |
| PerkinElmer, Inc. | &nbsp;&nbsp;2075 | &nbsp;&nbsp;&nbsp;&nbsp;290957 |
| Personalis, Inc. (A) | &nbsp;&nbsp;1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 |
| Quanterix Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7798 |
| Quantum-Si, Inc. (A) | &nbsp;&nbsp;1805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303 |
| Rapid Micro Biosystems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 |
| Repligen Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;154919 |
| Seer, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 |
| Singular Genomics Systems, Inc. (A) | &nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245 |
| SomaLogic, Inc. (A) | &nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7216 |
| Sotera Health Company (A) | &nbsp;&nbsp;4745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39526 |
| Standard BioTools, Inc. (A) | &nbsp;&nbsp;1624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 |
| Syneos Health, Inc. (A) | &nbsp;&nbsp;1709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62686 |
| Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;6417 | &nbsp;&nbsp;&nbsp;3533778 |
| Waters Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;336071 |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;&nbsp;286186 |
|  |  | 11697122 |
| **Pharmaceuticals – 4.2%** | **Pharmaceuticals – 4.2%** |  |
| 9 Meters Biopharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467 |
| Acer Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 |
| Aclaris Therapeutics, Inc. (A) | &nbsp;&nbsp;1042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16412 |
| Alexza Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Amneal Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6269 |
| Amphastar Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25022 |
| Amylyx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39389 |
| AN2 Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2897 |
| ANI Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10943 |
| Arvinas, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29660 |
| Assertio Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180 |
| Atea Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7379 |
| Athira Pharma, Inc. (A) | &nbsp;&nbsp;1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756 |
| Axsome Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51523 |
| Biote Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 |
| Bristol-Myers Squibb Company | 35012 | &nbsp;&nbsp;&nbsp;2519113 |
| Cara Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9730 |
| Cassava Sciences, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20028 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Catalent, Inc. (A) | &nbsp;&nbsp;2974 | $&nbsp;&nbsp;&nbsp;&nbsp;133860 |
| CinCor Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8701 |
| Cognition Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819 |
| Collegium Pharmaceutical, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;14384 |
| Corcept Therapeutics, Inc. (A) | &nbsp;&nbsp;1839 | &nbsp;&nbsp;&nbsp;&nbsp;37350 |
| DICE Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;23868 |
| Dova Pharmaceuticals, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Durect Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 |
| Edgewise Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8252 |
| Elanco Animal Health, Inc. (A) | &nbsp;&nbsp;7895 | &nbsp;&nbsp;&nbsp;&nbsp;96477 |
| Eli Lilly & Company | 16110 | 5893682 |
| Eloxx Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 |
| Esperion Therapeutics, Inc. (A) | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8791 |
| Eton Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 |
| Evolus, Inc. (A) | &nbsp;&nbsp;1113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8359 |
| Eyenovia, Inc. (A) | &nbsp;&nbsp;1231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007 |
| EyePoint Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 |
| Fulcrum Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7149 |
| Harmony Biosciences Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;927 | &nbsp;&nbsp;&nbsp;&nbsp;51078 |
| Harrow Health, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7897 |
| Ikena Oncology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479 |
| IMARA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681 |
| Innoviva, Inc. (A) | &nbsp;&nbsp;1280 | &nbsp;&nbsp;&nbsp;&nbsp;16960 |
| Intra-Cellular Therapies, Inc. (A) | &nbsp;&nbsp;1529 | &nbsp;&nbsp;&nbsp;&nbsp;80915 |
| Johnson & Johnson | 43062 | 7606902 |
| Ligand Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;20574 |
| Liquidia Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6013 |
| Longboard Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521 |
| Lyra Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 |
| Marinus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2981 |
| Merck & Company, Inc. | 41509 | 4605424 |
| MyMD Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 |
| Nektar Therapeutics (A) | &nbsp;&nbsp;3478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860 |
| NGM Biopharmaceuticals, Inc. (A) | &nbsp;&nbsp;1448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7269 |
| Nuvation Bio, Inc. (A) | &nbsp;&nbsp;3157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6061 |
| Ocular Therapeutix, Inc. (A) | &nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 |
| Ocuphire Pharma, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 |
| Omeros Corp. (A) | &nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2726 |
| Opiant Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764 |
| Optinose, Inc. (A) | &nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852 |
| Oramed Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7230 |
| Organon & Company | &nbsp;&nbsp;3979 | &nbsp;&nbsp;&nbsp;&nbsp;111133 |
| Pacira BioSciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp;30734 |
| Palisade Bio, Inc. (A)(C) | &nbsp;&nbsp;9919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Paratek Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685 |
| Pfizer, Inc. | 91953 | 4711672 |
| Phathom Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7102 |
| Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6209 |
| Pliant Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;15097 |
| Prestige Consumer Healthcare, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;47263 |
| Prevail Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 |
| ProPhase Labs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233 |
| Provention Bio, Inc. (A) | &nbsp;&nbsp;1460 | &nbsp;&nbsp;&nbsp;&nbsp;15432 |
| Rain Oncology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984 |
| Rani Therapeutics Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3505 |
| Reata Pharmaceuticals, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;20667 |
| Relmada Therapeutics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 |
| Revance Therapeutics, Inc. (A) | &nbsp;&nbsp;1298 | &nbsp;&nbsp;&nbsp;&nbsp;23961 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;7169 | &nbsp;&nbsp;&nbsp;&nbsp;283319 |
| RVL Pharmaceuticals PLC (A) | &nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531 |
| scPharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3528 |
| SCYNEXIS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 |
| SIGA Technologies, Inc. | &nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9472 |
| Societal CDMO, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 181 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Supernus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;932 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33244 |
| Tarsus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5571 |
| Terns Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5955 |
| TFF Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 |
| TherapeuticsMD, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922 |
| Theseus Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 |
| Tilray Brands, Inc. (A)(B) | &nbsp;&nbsp;9449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25418 |
| Tobira Therapeutics, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521 |
| Ventyx Biosciences, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29872 |
| Verrica Pharmaceuticals, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382 |
| Viatris, Inc. | 20060 | &nbsp;&nbsp;&nbsp;&nbsp;223268 |
| Xeris Biopharma Holdings, Inc. (A) | &nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4066 |
| Zoetis, Inc. | &nbsp;&nbsp;7684 | &nbsp;&nbsp;&nbsp;1126090 |
| Zogenix, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922 |
|  |  | 28206833 |
|  |  | 98216429 |
| **Industrials – 9.3%** |  |  |
| **Aerospace and defense – 1.8%** | **Aerospace and defense – 1.8%** |  |
| AAR Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29005 |
| Aerojet Rocketdyne Holdings, Inc. (A) | &nbsp;&nbsp;1361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76121 |
| AeroVironment, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37862 |
| AerSale Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12197 |
| Applied Energetics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709 |
| Archer Aviation, Inc., Class A (A) | &nbsp;&nbsp;3543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6625 |
| Astronics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417 |
| Axon Enterprise, Inc. (A) | &nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp;195300 |
| BWX Technologies, Inc. | &nbsp;&nbsp;1529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88804 |
| Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9788 |
| Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp;104703 |
| Ducommun, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13189 |
| General Dynamics Corp. | &nbsp;&nbsp;4498 | &nbsp;&nbsp;&nbsp;1115999 |
| HEICO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84502 |
| HEICO Corp., Class A | &nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;&nbsp;207221 |
| Hexcel Corp. | &nbsp;&nbsp;1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84567 |
| Howmet Aerospace, Inc. | &nbsp;&nbsp;6864 | &nbsp;&nbsp;&nbsp;&nbsp;270510 |
| Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;142099 |
| Innovative Solutions and Support, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 |
| Kaman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12287 |
| Kratos Defense & Security Solutions, Inc. (A) | &nbsp;&nbsp;2288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23612 |
| L3Harris Technologies, Inc. | &nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;654820 |
| Lockheed Martin Corp. | &nbsp;&nbsp;4347 | &nbsp;&nbsp;&nbsp;2114772 |
| Maxar Technologies, Inc. | &nbsp;&nbsp;1251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64727 |
| Mercury Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43129 |
| Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44933 |
| National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10885 |
| Northrop Grumman Corp. | &nbsp;&nbsp;2538 | &nbsp;&nbsp;&nbsp;1384758 |
| Park Aerospace Corp. | &nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5672 |
| Parsons Corp. (A) | &nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79504 |
| Raytheon Technologies Corp. | 24228 | &nbsp;&nbsp;&nbsp;2445090 |
| Redwire Corp. (A) | &nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996 |
| Rocket Lab USA, Inc. (A) | &nbsp;&nbsp;7533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28399 |
| Spirit AeroSystems Holdings, Inc., Class A | &nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52037 |
| Terran Orbital Corp. (A) | &nbsp;&nbsp;1845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915 |
| Textron, Inc. | &nbsp;&nbsp;3515 | &nbsp;&nbsp;&nbsp;&nbsp;248862 |
| The Boeing Company (A) | &nbsp;&nbsp;9730 | &nbsp;&nbsp;&nbsp;1853468 |
| TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;561018 |
| Triumph Group, Inc. (A) | &nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10836 |
| V2X, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16310 |
| Virgin Galactic Holdings, Inc. (A) | &nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14470 |
| Woodward, Inc. | &nbsp;&nbsp;1023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98832 |
|  |  | 12260328 |
| **Air freight and logistics – 0.5%** | **Air freight and logistics – 0.5%** |  |
| Air T, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Air freight and logistics (continued)** | **Air freight and logistics (continued)** |  |
| Air Transport Services Group, Inc. (A) | &nbsp;&nbsp;1275 | $&nbsp;&nbsp;&nbsp;&nbsp;33125 |
| Atlas Air Worldwide Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp;42235 |
| CH Robinson Worldwide, Inc. | &nbsp;&nbsp;2038 | &nbsp;&nbsp;&nbsp;&nbsp;186599 |
| Expeditors International of Washington, Inc. | &nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;279960 |
| FedEx Corp. | &nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp;737659 |
| Forward Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;48040 |
| GXO Logistics, Inc. (A) | &nbsp;&nbsp;1949 | &nbsp;&nbsp;&nbsp;&nbsp;83203 |
| Hub Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;43402 |
| United Parcel Service, Inc., Class B | 11990 | 2084342 |
|  |  | 3538766 |
| **Airlines – 0.2%** | **Airlines – 0.2%** |  |
| Alaska Air Group, Inc. (A) | &nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;&nbsp;90260 |
| Allegiant Travel Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;22029 |
| American Airlines Group, Inc. (A)(B) | 10688 | &nbsp;&nbsp;&nbsp;&nbsp;135951 |
| Blade Air Mobility, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 |
| Delta Air Lines, Inc. (A) | 10517 | &nbsp;&nbsp;&nbsp;&nbsp;345589 |
| Frontier Group Holdings, Inc. (A) | &nbsp;&nbsp;3341 | &nbsp;&nbsp;&nbsp;&nbsp;34312 |
| Hawaiian Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp;10188 |
| JetBlue Airways Corp. (A) | &nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;36256 |
| Joby Aviation, Inc. (A) | 10208 | &nbsp;&nbsp;&nbsp;&nbsp;34197 |
| Mesa Air Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123 |
| SkyWest, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;997 | &nbsp;&nbsp;&nbsp;&nbsp;16460 |
| Southwest Airlines Company (A) | &nbsp;&nbsp;9770 | &nbsp;&nbsp;&nbsp;&nbsp;328956 |
| Spirit Airlines, Inc. | &nbsp;&nbsp;1571 | &nbsp;&nbsp;&nbsp;&nbsp;30603 |
| Sun Country Airlines Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;11958 |
| United Airlines Holdings, Inc. (A) | &nbsp;&nbsp;5367 | &nbsp;&nbsp;&nbsp;&nbsp;202336 |
| Wheels Up Experience, Inc. (A) | &nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3577 |
|  |  | 1306194 |
| **Building products – 0.5%** | **Building products – 0.5%** |  |
| A.O. Smith Corp. | &nbsp;&nbsp;2142 | &nbsp;&nbsp;&nbsp;&nbsp;122608 |
| AAON, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;68692 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;1345 | &nbsp;&nbsp;&nbsp;&nbsp;110250 |
| American Woodmark Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp;14463 |
| Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp;19963 |
| Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp;54460 |
| Builders FirstSource, Inc. (A) | &nbsp;&nbsp;2581 | &nbsp;&nbsp;&nbsp;&nbsp;167455 |
| Carlisle Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp;189698 |
| Carrier Global Corp. | 13840 | &nbsp;&nbsp;&nbsp;&nbsp;570900 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;32229 |
| Fortune Brands Innovations, Inc. | &nbsp;&nbsp;2154 | &nbsp;&nbsp;&nbsp;&nbsp;123015 |
| Gibraltar Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;26289 |
| Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;35504 |
| Hayward Holdings, Inc. (A) | &nbsp;&nbsp;3667 | &nbsp;&nbsp;&nbsp;&nbsp;34470 |
| Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;10595 |
| Janus International Group, Inc. (A) | &nbsp;&nbsp;1981 | &nbsp;&nbsp;&nbsp;&nbsp;18859 |
| JELD-WEN Holding, Inc. (A) | &nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp;14436 |
| Johnson Controls International PLC | 11295 | &nbsp;&nbsp;&nbsp;&nbsp;722880 |
| Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;586 | &nbsp;&nbsp;&nbsp;&nbsp;140189 |
| Masco Corp. | &nbsp;&nbsp;3742 | &nbsp;&nbsp;&nbsp;&nbsp;174639 |
| Masterbrand, Inc. (A) | &nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;16723 |
| Owens Corning | &nbsp;&nbsp;1592 | &nbsp;&nbsp;&nbsp;&nbsp;135798 |
| PGT Innovations, Inc. (A) | &nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp;19648 |
| Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;13119 |
| Resideo Technologies, Inc. (A) | &nbsp;&nbsp;2453 | &nbsp;&nbsp;&nbsp;&nbsp;40352 |
| Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;64988 |
| The AZEK Company, Inc. (A) | &nbsp;&nbsp;2505 | &nbsp;&nbsp;&nbsp;&nbsp;50902 |
| Trex Company, Inc. (A) | &nbsp;&nbsp;1837 | &nbsp;&nbsp;&nbsp;&nbsp;77760 |
| UFP Industries, Inc. | &nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;80835 |
| View, Inc. (A) | &nbsp;&nbsp;3390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3271 |
| Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;2540 | &nbsp;&nbsp;&nbsp;&nbsp;53721 |
|  |  | 3208711 |
| **Commercial services and supplies – 0.7%** | **Commercial services and supplies – 0.7%** |  |
| ABM Industries, Inc. | &nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;49484 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 182 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Commercial services and supplies (continued)** | **Commercial services and supplies (continued)** |  |
| ACCO Brands Corp. | &nbsp;&nbsp;1727 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9654 |
| ACV Auctions, Inc., Class A (A) | &nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp;16338 |
| Aris Water Solution, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626 |
| Aurora Innovation, Inc. (A) | 12640 | &nbsp;&nbsp;&nbsp;&nbsp;15294 |
| Brady Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;813 | &nbsp;&nbsp;&nbsp;&nbsp;38292 |
| BrightView Holdings, Inc. (A) | &nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp;11947 |
| Casella Waste Systems, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;68841 |
| CECO Environmental Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8071 |
| Cintas Corp. | &nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;750141 |
| Civeo Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4696 |
| Clean Harbors, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;102366 |
| Copart, Inc. (A) | &nbsp;&nbsp;7791 | &nbsp;&nbsp;&nbsp;&nbsp;474394 |
| CoreCivic, Inc. (A) | &nbsp;&nbsp;2098 | &nbsp;&nbsp;&nbsp;&nbsp;24253 |
| Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;12990 |
| Driven Brands Holdings, Inc. (A) | &nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp;73792 |
| Ennis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9906 |
| Harsco Corp. (A) | &nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9070 |
| Healthcare Services Group, Inc. | &nbsp;&nbsp;1315 | &nbsp;&nbsp;&nbsp;&nbsp;15780 |
| Heritage-Crystal Clean, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp;14713 |
| HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;20470 |
| IAA, Inc. (A) | &nbsp;&nbsp;2211 | &nbsp;&nbsp;&nbsp;&nbsp;88440 |
| Interface, Inc. | &nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp;&nbsp;11232 |
| KAR Auction Services, Inc. (A) | &nbsp;&nbsp;1993 | &nbsp;&nbsp;&nbsp;&nbsp;26009 |
| Kimball International, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5051 |
| Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp;16772 |
| MillerKnoll, Inc. | &nbsp;&nbsp;1294 | &nbsp;&nbsp;&nbsp;&nbsp;27187 |
| Montrose Environmental Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;20197 |
| MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp;93291 |
| NL Industries, Inc. | &nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7001 |
| Odyssey Marine Exploration, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 |
| Performant Financial Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390 |
| Pitney Bowes, Inc. | &nbsp;&nbsp;3034 | &nbsp;&nbsp;&nbsp;&nbsp;11529 |
| Quad/Graphics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4019 |
| Quest Resource Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843 |
| Republic Services, Inc. | &nbsp;&nbsp;5163 | &nbsp;&nbsp;&nbsp;&nbsp;665975 |
| Rollins, Inc. | &nbsp;&nbsp;8106 | &nbsp;&nbsp;&nbsp;&nbsp;296193 |
| SP Plus Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;12881 |
| Steelcase, Inc., Class A | &nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;11595 |
| Stericycle, Inc. (A) | &nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp;77379 |
| Tetra Tech, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp;&nbsp;&nbsp;129074 |
| The Brink's Company | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;42431 |
| The GEO Group, Inc. (A) | &nbsp;&nbsp;2079 | &nbsp;&nbsp;&nbsp;&nbsp;22765 |
| UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;48055 |
| Viad Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9268 |
| VSE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;12658 |
| Waste Management, Inc. | &nbsp;&nbsp;6776 | 1063019 |
|  |  | 4441136 |
| **Construction and engineering – 0.2%** | **Construction and engineering – 0.2%** |  |
| AECOM | &nbsp;&nbsp;2319 | &nbsp;&nbsp;&nbsp;&nbsp;196953 |
| Ameresco, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;33370 |
| API Group Corp. (A) | &nbsp;&nbsp;3703 | &nbsp;&nbsp;&nbsp;&nbsp;69653 |
| Arcosa, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp;45428 |
| Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp;11543 |
| Bowman Consulting Group, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404 |
| Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp;&nbsp;&nbsp;70199 |
| Concrete Pumping Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598 |
| Construction Partners, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;20178 |
| Dycom Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;46238 |
| EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;823 | &nbsp;&nbsp;&nbsp;&nbsp;121895 |
| Fluor Corp. (A) | &nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;82110 |
| Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;774 | &nbsp;&nbsp;&nbsp;&nbsp;27144 |
| Great Lakes Dredge & Dock Corp. (A) | &nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8401 |
| IES Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;&nbsp;15260 |
| Innovate Corp. (A) | &nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922 |
| Limbach Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Construction and engineering (continued)** | **Construction and engineering (continued)** |  |
| MasTec, Inc. (A) | &nbsp;&nbsp;1295 | $&nbsp;&nbsp;&nbsp;&nbsp;110502 |
| Matrix Service Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4124 |
| MDU Resources Group, Inc. | &nbsp;&nbsp;3410 | &nbsp;&nbsp;&nbsp;&nbsp;103459 |
| MYR Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;28542 |
| Northwest Pipe Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8088 |
| Orion Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344 |
| Primoris Services Corp. | &nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;22006 |
| Quanta Services, Inc. | &nbsp;&nbsp;2357 | &nbsp;&nbsp;&nbsp;&nbsp;335873 |
| Sterling Infrastructure, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;18991 |
| Tutor Perini Corp. (A) | &nbsp;&nbsp;1033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7799 |
| Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;110444 |
| WillScot Mobile Mini Holdings Corp. (A) | &nbsp;&nbsp;3540 | &nbsp;&nbsp;&nbsp;&nbsp;159902 |
|  |  | 1669588 |
| **Electrical equipment – 0.7%** | **Electrical equipment – 0.7%** |  |
| Acuity Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp;&nbsp;&nbsp;89595 |
| Allied Motion Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;10547 |
| American Superconductor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304 |
| AMETEK, Inc. | &nbsp;&nbsp;3767 | &nbsp;&nbsp;&nbsp;&nbsp;526325 |
| Array Technologies, Inc. (A) | &nbsp;&nbsp;2420 | &nbsp;&nbsp;&nbsp;&nbsp;46779 |
| Atkore, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;77693 |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;19095 |
| Babcock & Wilcox Enterprises, Inc. (A) | &nbsp;&nbsp;1297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7484 |
| Blink Charging Company (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9039 |
| Bloom Energy Corp., Class A (A) | &nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp;56079 |
| Capstone Green Energy Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729 |
| ChargePoint Holdings, Inc. (A)(B) | &nbsp;&nbsp;5450 | &nbsp;&nbsp;&nbsp;&nbsp;51939 |
| Eaton Corp. PLC | &nbsp;&nbsp;6533 | 1025354 |
| Emerson Electric Company | &nbsp;&nbsp;9695 | &nbsp;&nbsp;&nbsp;&nbsp;931302 |
| Encore Wire Corp. | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;44432 |
| Energy Vault Holdings, Inc. (A) | &nbsp;&nbsp;2063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6437 |
| EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;704 | &nbsp;&nbsp;&nbsp;&nbsp;51983 |
| Enovix Corp. (A) | &nbsp;&nbsp;2531 | &nbsp;&nbsp;&nbsp;&nbsp;31486 |
| ESS Tech, Inc. (A) | &nbsp;&nbsp;2241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5446 |
| Fluence Energy, Inc. (A) | &nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;32928 |
| FTC Solar, Inc. (A) | &nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175 |
| FuelCell Energy, Inc. (A) | &nbsp;&nbsp;6492 | &nbsp;&nbsp;&nbsp;&nbsp;18048 |
| Generac Holdings, Inc. (A) | &nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;106196 |
| GrafTech International, Ltd. | &nbsp;&nbsp;4159 | &nbsp;&nbsp;&nbsp;&nbsp;19797 |
| Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp;207222 |
| Ideal Power, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499 |
| KULR Technology Group, Inc. (A) | &nbsp;&nbsp;1492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790 |
| LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3954 |
| NuScale Power Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8465 |
| nVent Electric PLC | &nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp;106523 |
| Orion Energy Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 |
| Plug Power, Inc. (A)(B) | &nbsp;&nbsp;9539 | &nbsp;&nbsp;&nbsp;&nbsp;117997 |
| Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8619 |
| Preformed Line Products Company | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7913 |
| Regal Rexnord Corp. | &nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;132458 |
| Rockwell Automation, Inc. | &nbsp;&nbsp;1892 | &nbsp;&nbsp;&nbsp;&nbsp;487322 |
| SES AI Corp. (A) | &nbsp;&nbsp;4593 | &nbsp;&nbsp;&nbsp;&nbsp;14468 |
| Shoals Technologies Group, Inc., Class A (A) | &nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;46330 |
| Stem, Inc. (A) | &nbsp;&nbsp;2447 | &nbsp;&nbsp;&nbsp;&nbsp;21876 |
| SunPower Corp. (A) | &nbsp;&nbsp;2885 | &nbsp;&nbsp;&nbsp;&nbsp;52017 |
| Sunrun, Inc. (A) | &nbsp;&nbsp;3514 | &nbsp;&nbsp;&nbsp;&nbsp;84406 |
| Sunworks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134 |
| Thermon Group Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;12530 |
| TPI Composites, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838 |
| Vertiv Holdings Company | &nbsp;&nbsp;6050 | &nbsp;&nbsp;&nbsp;&nbsp;82643 |
| Vicor Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;29778 |
|  |  | 4612639 |
| **Industrial conglomerates – 0.8%** | **Industrial conglomerates – 0.8%** |  |
| 3M Company | &nbsp;&nbsp;9325 | 1118254 |
| General Electric Company | 17971 | 1505790 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 183 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Industrial conglomerates (continued)** | **Industrial conglomerates (continued)** |  |
| Honeywell International, Inc. | 11046 | $2367158 |
| Icahn Enterprises LP | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;253250 |
|  |  | 5244452 |
| **Machinery – 1.9%** | **Machinery – 1.9%** |  |
| 3D Systems Corp. (A) | &nbsp;&nbsp;2231 | &nbsp;&nbsp;&nbsp;&nbsp;16509 |
| AGCO Corp. | &nbsp;&nbsp;1208 | &nbsp;&nbsp;&nbsp;&nbsp;167538 |
| Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;30161 |
| Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp;52943 |
| Allison Transmission Holdings, Inc. | &nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp;54912 |
| Altra Industrial Motion Corp. | &nbsp;&nbsp;1097 | &nbsp;&nbsp;&nbsp;&nbsp;65546 |
| Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;16752 |
| Barnes Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;889 | &nbsp;&nbsp;&nbsp;&nbsp;36316 |
| Caterpillar, Inc. | &nbsp;&nbsp;8651 | 2072434 |
| Chart Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;70175 |
| CIRCOR International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9584 |
| Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp;17274 |
| Commercial Vehicle Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121 |
| Crane Holdings Company | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;95428 |
| Cummins, Inc. | &nbsp;&nbsp;2294 | &nbsp;&nbsp;&nbsp;&nbsp;555813 |
| Deere & Company | &nbsp;&nbsp;4947 | 2121076 |
| Desktop Metal, Inc., Class A (A) | &nbsp;&nbsp;4586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6237 |
| Donaldson Company, Inc. | &nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp;118211 |
| Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;15368 |
| Dover Corp. | &nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;299933 |
| Energy Recovery, Inc. (A) | &nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;21637 |
| Enerpac Tool Group Corp. | &nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;25730 |
| EnPro Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp;39454 |
| Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;41853 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;38780 |
| Evoqua Water Technologies Corp. (A) | &nbsp;&nbsp;2044 | &nbsp;&nbsp;&nbsp;&nbsp;80942 |
| Federal Signal Corp. | &nbsp;&nbsp;1034 | &nbsp;&nbsp;&nbsp;&nbsp;48050 |
| Flowserve Corp. | &nbsp;&nbsp;2207 | &nbsp;&nbsp;&nbsp;&nbsp;67711 |
| Fortive Corp. | &nbsp;&nbsp;5839 | &nbsp;&nbsp;&nbsp;&nbsp;375156 |
| Franklin Electric Company, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;62763 |
| Gates Industrial Corp. PLC (A) | &nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;55624 |
| Gencor Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3424 |
| Graco, Inc. | &nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp;190346 |
| Graham Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982 |
| Helios Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;&nbsp;30976 |
| Hillenbrand, Inc. | &nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;50948 |
| Hillman Solutions Corp. (A) | &nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;20469 |
| Hurco Companies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4782 |
| Hydrofarm Holdings Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981 |
| Hyliion Holdings Corp. (A) | &nbsp;&nbsp;2439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5707 |
| Hyster-Yale Materials Handling, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6884 |
| Hyzon Motors, Inc. (A)(B) | &nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6064 |
| IDEX Corp. | &nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;253903 |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;5076 | 1118243 |
| Ingersoll Rand, Inc. | &nbsp;&nbsp;6674 | &nbsp;&nbsp;&nbsp;&nbsp;348717 |
| ITT, Inc. | &nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;112648 |
| John Bean Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp;49501 |
| Kadant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;37302 |
| Kennametal, Inc. | &nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp;33804 |
| LB Foster Company, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885 |
| Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp;122383 |
| Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp;30942 |
| Mayville Engineering Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583 |
| Microvast Holdings, Inc. (A) | &nbsp;&nbsp;5831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8921 |
| Miller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7811 |
| Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;49088 |
| Mueller Water Products, Inc., Class A | &nbsp;&nbsp;2820 | &nbsp;&nbsp;&nbsp;&nbsp;30343 |
| Nikola Corp. (A)(B) | &nbsp;&nbsp;7765 | &nbsp;&nbsp;&nbsp;&nbsp;16772 |
| NN, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;199923 |
| Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;18571 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Oshkosh Corp. | 1051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92688 |
| Otis Worldwide Corp. | 6947 | &nbsp;&nbsp;&nbsp;&nbsp;544020 |
| PACCAR, Inc. | 5694 | &nbsp;&nbsp;&nbsp;&nbsp;563535 |
| Parker-Hannifin Corp. | 2109 | &nbsp;&nbsp;&nbsp;&nbsp;613719 |
| Park-Ohio Holdings Corp. | &nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3865 |
| Proto Labs, Inc. (A) | &nbsp;&nbsp;501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12791 |
| RBC Bearings, Inc. (A) | &nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;101116 |
| REV Group, Inc. | 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14134 |
| Snap-on, Inc. | &nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp;190789 |
| SPX Technologies, Inc. (A) | &nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51535 |
| Standex International Corp. | &nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22837 |
| Stanley Black & Decker, Inc. | 2446 | &nbsp;&nbsp;&nbsp;&nbsp;183744 |
| Symbotic, Inc. (A) | &nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10412 |
| Tennant Company | &nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22104 |
| Terex Corp. | 1141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48744 |
| The Eastern Company | &nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3895 |
| The Gorman-Rupp Company | &nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14398 |
| The Greenbrier Companies, Inc. | &nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18978 |
| The Manitowoc Company, Inc. (A) | &nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852 |
| The Middleby Corp. (A) | &nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;120376 |
| The Shyft Group, Inc. | &nbsp;&nbsp;664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16507 |
| The Timken Company | 1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87348 |
| The Toro Company | 1675 | &nbsp;&nbsp;&nbsp;&nbsp;189610 |
| Titan International, Inc. (A) | 1133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17358 |
| Trinity Industries, Inc. | 1368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40452 |
| Twin Disc, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 |
| Velo3D, Inc. (A) | 2999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5368 |
| Wabash National Corp. | &nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19187 |
| Wabtec Corp. | 3010 | &nbsp;&nbsp;&nbsp;&nbsp;300428 |
| Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68728 |
| Xylem, Inc. | 2966 | &nbsp;&nbsp;&nbsp;&nbsp;327951 |
|  |  | 13171164 |
| **Marine – 0.0%** | **Marine – 0.0%** |  |
| Eagle Bulk Shipping, Inc. | &nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12085 |
| Kirby Corp. (A) | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64350 |
| Matson, Inc. | &nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39756 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;116191 |
| **Professional services – 0.6%** | **Professional services – 0.6%** |  |
| Alight, Inc., Class A (A) | 7207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60251 |
| ASGN, Inc. (A) | &nbsp;&nbsp;834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67954 |
| Atlas Technical Consultants, Inc. (A) | &nbsp;&nbsp;548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2822 |
| Barrett Business Services, Inc. | &nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12873 |
| BlackSky Technology, Inc. (A) | 1620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495 |
| Booz Allen Hamilton Holding Corp. | 2167 | &nbsp;&nbsp;&nbsp;&nbsp;226495 |
| CACI International, Inc., Class A (A) | &nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;101299 |
| CBIZ, Inc. (A) | &nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41837 |
| CoStar Group, Inc. (A) | 6498 | &nbsp;&nbsp;&nbsp;&nbsp;502165 |
| CRA International, Inc. | &nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15671 |
| DLH Holdings Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 |
| Dun & Bradstreet Holdings, Inc. | 7238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88738 |
| Equifax, Inc. | 2009 | &nbsp;&nbsp;&nbsp;&nbsp;390469 |
| Exponent, Inc. | &nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84326 |
| First Advantage Corp. (A) | 2298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29874 |
| FiscalNote Holdings, Inc. (A) | 1892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11976 |
| Forrester Research, Inc. (A) | &nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12516 |
| Franklin Covey Company (A) | &nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12301 |
| FTI Consulting, Inc. (A) | &nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83370 |
| Heidrick & Struggles International, Inc. | &nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10936 |
| HireQuest, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 |
| HireRight Holdings Corp. (A) | 1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14173 |
| Huron Consulting Group, Inc. (A) | &nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25773 |
| ICF International, Inc. | &nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31102 |
| Insperity, Inc. | &nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72363 |
| Jacobs Solutions, Inc. | 2106 | &nbsp;&nbsp;&nbsp;&nbsp;252867 |
| KBR, Inc. | 2319 | &nbsp;&nbsp;&nbsp;&nbsp;122443 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 184 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Professional services (continued)** | **Professional services (continued)** |  |
| Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;696 | $&nbsp;&nbsp;&nbsp;&nbsp;11762 |
| Kforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;20506 |
| Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;45558 |
| Legalzoom.com, Inc. (A) | &nbsp;&nbsp;3194 | &nbsp;&nbsp;&nbsp;&nbsp;24722 |
| Leidos Holdings, Inc. | &nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;234889 |
| ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;71893 |
| Mistras Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3717 |
| Planet Labs PBC (A) | &nbsp;&nbsp;3837 | &nbsp;&nbsp;&nbsp;&nbsp;16691 |
| RCM Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 |
| Red Violet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121 |
| Resources Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;11304 |
| Robert Half International, Inc. | &nbsp;&nbsp;1805 | &nbsp;&nbsp;&nbsp;&nbsp;133263 |
| Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;94845 |
| Skillsoft Corp. (A) | &nbsp;&nbsp;2271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2952 |
| Spire Global, Inc. (A) | &nbsp;&nbsp;2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982 |
| Sterling Check Corp. (A) | &nbsp;&nbsp;1501 | &nbsp;&nbsp;&nbsp;&nbsp;23220 |
| TransUnion | &nbsp;&nbsp;3172 | &nbsp;&nbsp;&nbsp;&nbsp;180011 |
| TriNet Group, Inc. (A) | &nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp;69834 |
| TrueBlue, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;12022 |
| Upwork, Inc. (A) | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;23062 |
| Verisk Analytics, Inc. | &nbsp;&nbsp;2582 | &nbsp;&nbsp;&nbsp;&nbsp;455516 |
| Willdan Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4712 |
|  |  | 3725041 |
| **Road and rail – 1.0%** | **Road and rail – 1.0%** |  |
| ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;29557 |
| Avis Budget Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;&nbsp;&nbsp;111964 |
| Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7018 |
| CSX Corp. | 35098 | 1087336 |
| Daseke, Inc. (A) | &nbsp;&nbsp;1184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6737 |
| FTAI Infrastructure, Inc. | &nbsp;&nbsp;1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171 |
| Heartland Express, Inc. | &nbsp;&nbsp;1446 | &nbsp;&nbsp;&nbsp;&nbsp;22182 |
| JB Hunt Transport Services, Inc. | &nbsp;&nbsp;1709 | &nbsp;&nbsp;&nbsp;&nbsp;297981 |
| Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;2642 | &nbsp;&nbsp;&nbsp;&nbsp;138467 |
| Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;84871 |
| Lyft, Inc., Class A (A) | &nbsp;&nbsp;5711 | &nbsp;&nbsp;&nbsp;&nbsp;62935 |
| Marten Transport, Ltd. | &nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp;28068 |
| Norfolk Southern Corp. | &nbsp;&nbsp;3843 | &nbsp;&nbsp;&nbsp;&nbsp;946992 |
| Old Dominion Freight Line, Inc. | &nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;521020 |
| PAM Transportation Services, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;&nbsp;10438 |
| RXO, Inc. (A) | &nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp;33334 |
| Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;69029 |
| Saia, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp;92050 |
| Schneider National, Inc., Class B | &nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp;37908 |
| TuSimple Holdings, Inc., Class A (A) | &nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5865 |
| Uber Technologies, Inc. (A) | 32470 | &nbsp;&nbsp;&nbsp;&nbsp;802983 |
| U-Haul Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;19622 |
| U-Haul Holding Company, Series N | &nbsp;&nbsp;2763 | &nbsp;&nbsp;&nbsp;&nbsp;151910 |
| Union Pacific Corp. | 10221 | 2116462 |
| Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp;15516 |
| Werner Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;34543 |
| XPO, Inc. (A) | &nbsp;&nbsp;1907 | &nbsp;&nbsp;&nbsp;&nbsp;63484 |
| Yellow Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2196 |
|  |  | 6805639 |
| **Trading companies and distributors – 0.4%** | **Trading companies and distributors – 0.4%** |  |
| Air Lease Corp. | &nbsp;&nbsp;1861 | &nbsp;&nbsp;&nbsp;&nbsp;71500 |
| Alta Equipment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4036 |
| Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;80029 |
| Beacon Roofing Supply, Inc. (A) | &nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;58702 |
| BlueLinx Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8035 |
| Boise Cascade Company | &nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp;45460 |
| Core & Main, Inc., Class A (A) | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;55999 |
| Distribution Solutions Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9952 |
| DXP Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;10441 |
| EVI Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5705 |
| Fastenal Company | &nbsp;&nbsp;9483 | &nbsp;&nbsp;&nbsp;&nbsp;448736 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Trading companies and distributors (continued)** | **Trading companies and distributors (continued)** |  |
| GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;572 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 |
| Global Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15742 |
| GMS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36603 |
| H&E Equipment Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28557 |
| Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65653 |
| Hudson Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5424 |
| Karat Packaging, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 |
| McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41965 |
| MRC Global, Inc. (A) | &nbsp;&nbsp;1509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17474 |
| MSC Industrial Direct Company, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57599 |
| NOW, Inc. (A) | &nbsp;&nbsp;1992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25298 |
| Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47470 |
| SiteOne Landscape Supply, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88577 |
| Textainer Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24839 |
| Titan Machinery, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15971 |
| United Rentals, Inc. (A) | &nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;408022 |
| Univar Solutions, Inc. (A) | &nbsp;&nbsp;2809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89326 |
| Veritiv Corp. | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29332 |
| W.W. Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;458906 |
| Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;138168 |
| WESCO International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp;105544 |
| Willis Lease Finance Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 |
|  |  | &nbsp;&nbsp;&nbsp;2563392 |
|  |  | 62663241 |
| **Information technology – 23.2%** |  |  |
| **Communications equipment – 0.8%** | **Communications equipment – 0.8%** |  |
| ADTRAN Holdings, Inc. | &nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19899 |
| Applied Optoelectronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 |
| Arista Networks, Inc. (A) | &nbsp;&nbsp;4996 | &nbsp;&nbsp;&nbsp;&nbsp;606265 |
| Aviat Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123 |
| CalAmp Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 |
| Calix, Inc. (A) | &nbsp;&nbsp;1082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74041 |
| Cambium Networks Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11117 |
| Casa Systems, Inc. (A) | &nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 |
| Ciena Corp. (A) | &nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp;124442 |
| Cisco Systems, Inc. | 67825 | &nbsp;&nbsp;&nbsp;3231183 |
| Clearfield, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22499 |
| CommScope Holding Company, Inc. (A) | &nbsp;&nbsp;3501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25732 |
| Comtech Telecommunications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6653 |
| Digi International, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22405 |
| DZS, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7177 |
| Extreme Networks, Inc. (A) | &nbsp;&nbsp;2202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40319 |
| F5, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;140927 |
| Harmonic, Inc. (A) | &nbsp;&nbsp;1827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23934 |
| Infinera Corp. (A) | &nbsp;&nbsp;3517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23705 |
| Inseego Corp. (A) | &nbsp;&nbsp;1798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 |
| Juniper Networks, Inc. | &nbsp;&nbsp;5293 | &nbsp;&nbsp;&nbsp;&nbsp;169164 |
| KVH Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151 |
| Lantronix, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456 |
| Lumentum Holdings, Inc. (A) | &nbsp;&nbsp;1134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59161 |
| Motorola Solutions, Inc. | &nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;704064 |
| NETGEAR, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9779 |
| NetScout Systems, Inc. (A) | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39175 |
| Powerwave Technologies, Inc. (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Ribbon Communications, Inc. (A) | &nbsp;&nbsp;2627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7329 |
| Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;271889 |
| Viasat, Inc. (A) | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40354 |
| Viavi Solutions, Inc. (A) | &nbsp;&nbsp;3860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40569 |
|  |  | &nbsp;&nbsp;&nbsp;5740910 |
| **Electronic equipment, instruments and components – 0.7%** | **Electronic equipment, instruments and components – 0.7%** |  |
| 908 Devices, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391 |
| Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53956 |
| Aeva Technologies, Inc. (A) | &nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 185 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Electronic equipment, instruments and<br> components (continued)** | **Electronic equipment, instruments and<br> components (continued)** |  |
| Akoustis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;872 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459 |
| Amphenol Corp., Class A | &nbsp;&nbsp;9753 | &nbsp;&nbsp;&nbsp;&nbsp;742593 |
| Arlo Technologies, Inc. (A) | &nbsp;&nbsp;1497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254 |
| Arrow Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp;98923 |
| Avnet, Inc. | &nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;&nbsp;65738 |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;53534 |
| Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7374 |
| Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp;52415 |
| Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp;17295 |
| CDW Corp. | &nbsp;&nbsp;2225 | &nbsp;&nbsp;&nbsp;&nbsp;397341 |
| Cepton, Inc. (A) | &nbsp;&nbsp;2308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2931 |
| Cognex Corp. | &nbsp;&nbsp;2876 | &nbsp;&nbsp;&nbsp;&nbsp;135488 |
| Coherent Corp. (A) | &nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp;76272 |
| Corning, Inc. | 13899 | &nbsp;&nbsp;&nbsp;&nbsp;443934 |
| CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;22075 |
| Daktronics, Inc. (A) | &nbsp;&nbsp;1227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3460 |
| ePlus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;15144 |
| Evolv Technologies Holdings, Inc. (A) | &nbsp;&nbsp;2210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5724 |
| FARO Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;10793 |
| Identiv, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 |
| Insight Enterprises, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;564 | &nbsp;&nbsp;&nbsp;&nbsp;56552 |
| IPG Photonics Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;78387 |
| Iteris, Inc. (A) | &nbsp;&nbsp;1032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210 |
| Itron, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;39001 |
| Jabil, Inc. | &nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp;154473 |
| Keysight Technologies, Inc. (A) | &nbsp;&nbsp;2931 | &nbsp;&nbsp;&nbsp;&nbsp;501406 |
| Kimball Electronics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;10437 |
| Knowles Corp. (A) | &nbsp;&nbsp;1589 | &nbsp;&nbsp;&nbsp;&nbsp;26091 |
| Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;89401 |
| Luna Innovations, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2927 |
| Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;&nbsp;28796 |
| MicroVision, Inc. (A) | &nbsp;&nbsp;2624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
| Mirion Technologies, Inc. (A) | &nbsp;&nbsp;2986 | &nbsp;&nbsp;&nbsp;&nbsp;19737 |
| Napco Security Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;17862 |
| National Instruments Corp. | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;81512 |
| Netlist, Inc. (A) | &nbsp;&nbsp;3719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4277 |
| nLight, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8599 |
| Novanta, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp;80571 |
| OSI Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;22822 |
| PAR Technology Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;10532 |
| PC Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;23075 |
| Plexus Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;45289 |
| Powerfleet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 |
| Richardson Electronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642 |
| Rogers Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;36995 |
| Sanmina Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;48983 |
| ScanSource, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;13441 |
| SmartRent, Inc. (A) | &nbsp;&nbsp;2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6926 |
| TD SYNNEX Corp. | &nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp;148032 |
| Teledyne Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp;310730 |
| Trimble, Inc. (A) | &nbsp;&nbsp;4096 | &nbsp;&nbsp;&nbsp;&nbsp;207094 |
| TTM Technologies, Inc. (A) | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;26812 |
| Vishay Intertechnology, Inc. | &nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp;43722 |
| Vishay Precision Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9547 |
| Vontier Corp. | &nbsp;&nbsp;2602 | &nbsp;&nbsp;&nbsp;&nbsp;50297 |
| Zebra Technologies Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;219231 |
|  |  | 4656704 |
| **IT services – 3.8%** | **IT services – 3.8%** |  |
| Affirm Holdings, Inc. (A) | &nbsp;&nbsp;3833 | &nbsp;&nbsp;&nbsp;&nbsp;37065 |
| Akamai Technologies, Inc. (A) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;219180 |
| Automatic Data Processing, Inc. | &nbsp;&nbsp;6807 | 1625920 |
| AvidXchange Holdings, Inc. (A) | &nbsp;&nbsp;3067 | &nbsp;&nbsp;&nbsp;&nbsp;30486 |
| Backblaze, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101 |
| BigCommerce Holdings, Inc., Series 1 (A) | &nbsp;&nbsp;1168 | &nbsp;&nbsp;&nbsp;&nbsp;10208 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **IT services (continued)** | **IT services (continued)** |  |
| Block, Inc. (A) | &nbsp;&nbsp;8691 | $&nbsp;&nbsp;&nbsp;&nbsp;546142 |
| BM Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605 |
| Brightcove, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 |
| Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp;258066 |
| Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;11730 |
| Cloudflare, Inc., Class A (A) | &nbsp;&nbsp;4654 | &nbsp;&nbsp;&nbsp;&nbsp;210407 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;486115 |
| Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;861 | &nbsp;&nbsp;&nbsp;&nbsp;114651 |
| Conduent, Inc. (A) | &nbsp;&nbsp;3930 | &nbsp;&nbsp;&nbsp;&nbsp;15917 |
| CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp;31002 |
| Cyxtera Technologies, Inc. (A) | &nbsp;&nbsp;2849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5470 |
| DigitalOcean Holdings, Inc. (A) | &nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp;41312 |
| DXC Technology Company (A) | &nbsp;&nbsp;3794 | &nbsp;&nbsp;&nbsp;&nbsp;100541 |
| Edgio, Inc. (A) | &nbsp;&nbsp;3318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 |
| EPAM Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;&nbsp;308731 |
| Euronet Worldwide, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp;80129 |
| Evo Payments, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;27444 |
| ExlService Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;92509 |
| Fastly, Inc., Class A (A) | &nbsp;&nbsp;1995 | &nbsp;&nbsp;&nbsp;&nbsp;16339 |
| Fidelity National Information Services, Inc. | &nbsp;&nbsp;9975 | &nbsp;&nbsp;&nbsp;&nbsp;676804 |
| Fiserv, Inc. (A) | 10490 | 1060224 |
| FleetCor Technologies, Inc. (A) | &nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp;225743 |
| Flywire Corp. (A) | &nbsp;&nbsp;1698 | &nbsp;&nbsp;&nbsp;&nbsp;41550 |
| Gartner, Inc. (A) | &nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp;435637 |
| Genpact, Ltd. | &nbsp;&nbsp;3030 | &nbsp;&nbsp;&nbsp;&nbsp;140350 |
| Global Payments, Inc. | &nbsp;&nbsp;4631 | &nbsp;&nbsp;&nbsp;&nbsp;459951 |
| GoDaddy, Inc., Class A (A) | &nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;191090 |
| Grid Dynamics Holdings, Inc. (A) | &nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;11972 |
| i3 Verticals, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;10320 |
| IBEX Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4871 |
| IBM Corp. | 14793 | 2084186 |
| Information Services Group, Inc. | &nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 |
| Innodata, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554 |
| International Money Express, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;12088 |
| Jack Henry & Associates, Inc. | &nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;209619 |
| Kyndryl Holdings, Inc. (A) | &nbsp;&nbsp;3641 | &nbsp;&nbsp;&nbsp;&nbsp;40488 |
| Marqeta, Inc., Class A (A) | &nbsp;&nbsp;7428 | &nbsp;&nbsp;&nbsp;&nbsp;45385 |
| Mastercard, Inc., Class A | 15709 | 5462491 |
| Maximus, Inc. | &nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp;73843 |
| MoneyGram International, Inc. (A) | &nbsp;&nbsp;1519 | &nbsp;&nbsp;&nbsp;&nbsp;16542 |
| MongoDB, Inc. (A) | &nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp;220264 |
| Okta, Inc. (A) | &nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;170688 |
| Paya Holdings, Inc. (A) | &nbsp;&nbsp;1965 | &nbsp;&nbsp;&nbsp;&nbsp;15465 |
| Paychex, Inc. | &nbsp;&nbsp;5898 | &nbsp;&nbsp;&nbsp;&nbsp;681573 |
| Paymentus Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4630 |
| Payoneer Global, Inc. (A) | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;30085 |
| PayPal Holdings, Inc. (A) | 18957 | 1350118 |
| Paysign, Inc. (A) | &nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2851 |
| Perficient, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp;40781 |
| Priority Technology Holdings, Inc. (A) | &nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6070 |
| Rackspace Technology, Inc. (A) | &nbsp;&nbsp;3379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9968 |
| Remitly Global, Inc. (A) | &nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp;30549 |
| Sabre Corp. (A) | &nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp;33971 |
| Shift4 Payments, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;47652 |
| Snowflake, Inc., Class A (A) | &nbsp;&nbsp;5247 | &nbsp;&nbsp;&nbsp;&nbsp;753154 |
| Squarespace, Inc., Class A (A) | &nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;33809 |
| SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;&nbsp;218756 |
| StarTek, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449 |
| TaskUS, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8535 |
| The Glimpse Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 |
| The Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;11998 |
| The Western Union Company | &nbsp;&nbsp;6396 | &nbsp;&nbsp;&nbsp;&nbsp;88073 |
| Thoughtworks Holding, Inc. (A) | &nbsp;&nbsp;5068 | &nbsp;&nbsp;&nbsp;&nbsp;51643 |
| Toast, Inc., Class A (A) | &nbsp;&nbsp;5509 | &nbsp;&nbsp;&nbsp;&nbsp;99327 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 186 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **IT services (continued)** | **IT services (continued)** |  |
| TTEC Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;804 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35481 |
| Twilio, Inc., Class A (A) | &nbsp;&nbsp;2857 | &nbsp;&nbsp;&nbsp;&nbsp;139879 |
| Unisys Corp. (A) | &nbsp;&nbsp;1317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6730 |
| VeriSign, Inc. (A) | &nbsp;&nbsp;1754 | &nbsp;&nbsp;&nbsp;&nbsp;360342 |
| Verra Mobility Corp. (A) | &nbsp;&nbsp;2598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35930 |
| Visa, Inc., Class A | 26792 | &nbsp;&nbsp;&nbsp;5566306 |
| WEX, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp;118810 |
|  |  | 25665051 |
| **Semiconductors and semiconductor equipment – 4.3%** | **Semiconductors and semiconductor equipment – 4.3%** |  |
| ACM Research, Inc., Class A (A) | &nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7733 |
| Advanced Micro Devices, Inc. (A) | 26454 | &nbsp;&nbsp;&nbsp;1713426 |
| Aehr Test Systems (A) | &nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8462 |
| Allegro MicroSystems, Inc. (A) | &nbsp;&nbsp;3168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95103 |
| Alpha & Omega Semiconductor, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13914 |
| Ambarella, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52792 |
| Amkor Technology, Inc. | &nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97071 |
| Analog Devices, Inc. | &nbsp;&nbsp;8424 | &nbsp;&nbsp;&nbsp;1381789 |
| Applied Materials, Inc. | 14095 | &nbsp;&nbsp;&nbsp;1372571 |
| Atomera, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2395 |
| Axcelis Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43648 |
| AXT, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257 |
| Broadcom, Inc. | &nbsp;&nbsp;6632 | &nbsp;&nbsp;&nbsp;3708150 |
| CEVA, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11306 |
| Cirrus Logic, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58169 |
| Cohu, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26986 |
| Diodes, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57638 |
| Enphase Energy, Inc. (A) | &nbsp;&nbsp;2221 | &nbsp;&nbsp;&nbsp;&nbsp;588476 |
| Entegris, Inc. | &nbsp;&nbsp;2452 | &nbsp;&nbsp;&nbsp;&nbsp;160827 |
| Everspin Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 |
| First Solar, Inc. (A) | &nbsp;&nbsp;1746 | &nbsp;&nbsp;&nbsp;&nbsp;261533 |
| FormFactor, Inc. (A) | &nbsp;&nbsp;1299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28877 |
| GlobalFoundries, Inc. (A)(B) | &nbsp;&nbsp;8854 | &nbsp;&nbsp;&nbsp;&nbsp;477142 |
| Ichor Holdings, Ltd. (A) | &nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10299 |
| Impinj, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46183 |
| Intel Corp. | 67236 | &nbsp;&nbsp;&nbsp;1777047 |
| KLA Corp. | &nbsp;&nbsp;2322 | &nbsp;&nbsp;&nbsp;&nbsp;875464 |
| Kopin Corp. (A) | &nbsp;&nbsp;1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409 |
| Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42534 |
| Lam Research Corp. | &nbsp;&nbsp;2244 | &nbsp;&nbsp;&nbsp;&nbsp;943153 |
| Lattice Semiconductor Corp. (A) | &nbsp;&nbsp;2262 | &nbsp;&nbsp;&nbsp;&nbsp;146759 |
| MACOM Technology Solutions Holdings, Inc. (A) | &nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72931 |
| Marvell Technology, Inc. | 13989 | &nbsp;&nbsp;&nbsp;&nbsp;518153 |
| MaxLinear, Inc. (A) | &nbsp;&nbsp;1322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44882 |
| Meta Materials, Inc. (A)(B) | &nbsp;&nbsp;5869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6984 |
| Microchip Technology, Inc. | &nbsp;&nbsp;9055 | &nbsp;&nbsp;&nbsp;&nbsp;636114 |
| Micron Technology, Inc. | 18068 | &nbsp;&nbsp;&nbsp;&nbsp;903039 |
| MKS Instruments, Inc. | &nbsp;&nbsp;1042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88289 |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;271572 |
| NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5569 |
| NVIDIA Corp. | 40792 | &nbsp;&nbsp;&nbsp;5961343 |
| ON Semiconductor Corp. (A) | &nbsp;&nbsp;7109 | &nbsp;&nbsp;&nbsp;&nbsp;443388 |
| Onto Innovation, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56651 |
| PDF Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18652 |
| Photronics, Inc. (A) | &nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17924 |
| Pixelworks, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058 |
| Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68134 |
| Qorvo, Inc. (A) | &nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp;153635 |
| Qualcomm, Inc. | 18392 | &nbsp;&nbsp;&nbsp;2022016 |
| Rambus, Inc. (A) | &nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65694 |
| Semtech Corp. (A) | &nbsp;&nbsp;1046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30010 |
| Silicon Laboratories, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76925 |
| SiTime Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34551 |
| SkyWater Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4629 |
| Skyworks Solutions, Inc. | &nbsp;&nbsp;2632 | &nbsp;&nbsp;&nbsp;&nbsp;239854 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Semiconductors and semiconductor equipment (continued)** | **Semiconductors and semiconductor equipment (continued)** |  |
| SMART Global Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;881 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13109 |
| Synaptics, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62710 |
| Teradyne, Inc. | &nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp;225800 |
| Texas Instruments, Inc. | 14947 | &nbsp;&nbsp;&nbsp;2469543 |
| Ultra Clean Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25857 |
| Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85136 |
| Veeco Instruments, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16722 |
| Wolfspeed, Inc. (A) | &nbsp;&nbsp;2039 | &nbsp;&nbsp;&nbsp;&nbsp;140773 |
|  |  | 28794194 |
| **Software – 8.3%** | **Software – 8.3%** |  |
| 8x8, Inc. (A) | &nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8986 |
| A10 Networks, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21619 |
| ACI Worldwide, Inc. (A) | &nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44114 |
| Adeia, Inc. | &nbsp;&nbsp;1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17718 |
| Adobe, Inc. (A) | &nbsp;&nbsp;7668 | &nbsp;&nbsp;&nbsp;2580512 |
| Agilysys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33555 |
| Alarm.com Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41365 |
| Alkami Technology, Inc. (A) | &nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19740 |
| Altair Engineering, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40559 |
| Alteryx, Inc., Class A (A) | &nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51025 |
| American Software, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9072 |
| Amplitude, Inc., Class A (A) | &nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13844 |
| ANSYS, Inc. (A) | &nbsp;&nbsp;1430 | &nbsp;&nbsp;&nbsp;&nbsp;345474 |
| Appfolio, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36040 |
| Appian Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22890 |
| Applied Digital Corp. (A) | &nbsp;&nbsp;1358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499 |
| AppLovin Corp., Class A (A) | &nbsp;&nbsp;4899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51586 |
| Arteris, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101 |
| Asana, Inc., Class A (A) | &nbsp;&nbsp;2165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29812 |
| Aspen Technology, Inc. (A) | &nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;218751 |
| Asure Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 |
| Autodesk, Inc. (A) | &nbsp;&nbsp;3539 | &nbsp;&nbsp;&nbsp;&nbsp;661333 |
| AvePoint, Inc. (A) | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10686 |
| Benefitfocus, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6632 |
| Bentley Systems, Inc., Class B | &nbsp;&nbsp;4577 | &nbsp;&nbsp;&nbsp;&nbsp;169166 |
| Bill.com Holdings, Inc. (A) | &nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;186104 |
| Black Knight, Inc. (A) | &nbsp;&nbsp;2567 | &nbsp;&nbsp;&nbsp;&nbsp;158512 |
| Blackbaud, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52091 |
| Blackline, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66866 |
| Blend Labs, Inc., Class A (A) | &nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4893 |
| Box, Inc., Class A (A) | &nbsp;&nbsp;2356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73342 |
| Braze, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24416 |
| c3.ai, Inc., Class A (A) | &nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20355 |
| Cadence Design Systems, Inc. (A) | &nbsp;&nbsp;4490 | &nbsp;&nbsp;&nbsp;&nbsp;721274 |
| CCC Intelligent Solutions Holdings, Inc. (A) | &nbsp;&nbsp;9972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86756 |
| Cerence, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12897 |
| Ceridian HCM Holding, Inc. (A) | &nbsp;&nbsp;2524 | &nbsp;&nbsp;&nbsp;&nbsp;161915 |
| Clear Secure, Inc., Class A | &nbsp;&nbsp;1377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37771 |
| Clearwater Analytics Holdings, Inc., Class A (A) | &nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18769 |
| CommVault Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46816 |
| Confluent, Inc., Class A (A) | &nbsp;&nbsp;2348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52220 |
| Consensus Cloud Solutions, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15967 |
| CoreCard Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5273 |
| Couchbase, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8937 |
| Coupa Software, Inc. (A) | &nbsp;&nbsp;1256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99438 |
| Crowdstrike Holdings, Inc., Class A (A) | &nbsp;&nbsp;3529 | &nbsp;&nbsp;&nbsp;&nbsp;371568 |
| CS Disco, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669 |
| Cvent Holding Corp. (A) | &nbsp;&nbsp;7673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41434 |
| Datadog, Inc., Class A (A) | &nbsp;&nbsp;4779 | &nbsp;&nbsp;&nbsp;&nbsp;351257 |
| Digimarc Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5436 |
| Digital Turbine, Inc. (A) | &nbsp;&nbsp;1591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24247 |
| DocuSign, Inc. (A) | &nbsp;&nbsp;3306 | &nbsp;&nbsp;&nbsp;&nbsp;183219 |
| Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;1016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71669 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 187 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Domo, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;570 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8117 |
| DoubleVerify Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56635 |
| Dropbox, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4530 | &nbsp;&nbsp;&nbsp;&nbsp;101381 |
| Duck Creek Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25365 |
| Dynatrace, Inc. (A) | &nbsp;&nbsp;&nbsp;4725 | &nbsp;&nbsp;&nbsp;&nbsp;180968 |
| E2open Parent Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;4487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26339 |
| Ebix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8982 |
| eGain Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 |
| Embark Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 |
| Enfusion, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9187 |
| EngageSmart, Inc. (A) | &nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45760 |
| Envestnet, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56826 |
| Everbridge, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19848 |
| EverCommerce, Inc. (A) | &nbsp;&nbsp;&nbsp;3253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24202 |
| Expensify, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8653 |
| Fair Isaac Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;248411 |
| Five9, Inc. (A) | &nbsp;&nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78921 |
| ForgeRock, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18398 |
| Fortinet, Inc. (A) | &nbsp;&nbsp;12935 | &nbsp;&nbsp;&nbsp;&nbsp;632392 |
| Freshworks, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36157 |
| Gen Digital, Inc. | &nbsp;&nbsp;10150 | &nbsp;&nbsp;&nbsp;&nbsp;217515 |
| Gitlab, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65388 |
| Guidewire Software, Inc. (A) | &nbsp;&nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86708 |
| HashiCorp, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34394 |
| HubSpot, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;228413 |
| Informatica, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64394 |
| Instructure Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;2180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51099 |
| Intapp, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24217 |
| InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24987 |
| Intuit, Inc. | &nbsp;&nbsp;&nbsp;4620 | &nbsp;&nbsp;&nbsp;1798196 |
| Jamf Holding Corp. (A) | &nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39107 |
| JFrog, Ltd. (A) | &nbsp;&nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35728 |
| Kaltura, Inc. (A) | &nbsp;&nbsp;&nbsp;1498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577 |
| KnowBe4, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35460 |
| LivePerson, Inc. (A) | &nbsp;&nbsp;&nbsp;1279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12969 |
| LiveRamp Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26815 |
| LiveVox Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543 |
| Manhattan Associates, Inc. (A) | &nbsp;&nbsp;&nbsp;1036 | &nbsp;&nbsp;&nbsp;&nbsp;125770 |
| Marathon Digital Holdings, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6488 |
| Matterport, Inc. (A) | &nbsp;&nbsp;&nbsp;4431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12407 |
| MeridianLink, Inc. (A) | &nbsp;&nbsp;&nbsp;1186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16284 |
| Microsoft Corp. | 122154 | 29294972 |
| MicroStrategy, Inc., Class A (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22226 |
| Mitek Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8314 |
| Model N, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25634 |
| Momentive Global, Inc. (A) | &nbsp;&nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17864 |
| N-able, Inc. (A) | &nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31919 |
| nCino, Inc. (A) | &nbsp;&nbsp;&nbsp;1764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46640 |
| NCR Corp. (A) | &nbsp;&nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53422 |
| New Relic, Inc. (A) | &nbsp;&nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63168 |
| NextNav, Inc. (A) | &nbsp;&nbsp;&nbsp;1543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4521 |
| Nutanix, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96489 |
| Olo, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11269 |
| ON24, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4712 |
| OneSpan, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8314 |
| Oracle Corp. | &nbsp;&nbsp;44140 | &nbsp;&nbsp;&nbsp;3608004 |
| PagerDuty, Inc. (A) | &nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39973 |
| Palantir Technologies, Inc., Class A (A) | &nbsp;&nbsp;32261 | &nbsp;&nbsp;&nbsp;&nbsp;207116 |
| Palo Alto Networks, Inc. (A) | &nbsp;&nbsp;&nbsp;4908 | &nbsp;&nbsp;&nbsp;&nbsp;684862 |
| Paycom Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;305966 |
| Paycor HCM, Inc. (A) | &nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71501 |
| Paylocity Holding Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;176777 |
| Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;1377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47148 |
| PowerSchool Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75102 |
| Procore Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;2210 | &nbsp;&nbsp;&nbsp;&nbsp;104268 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software (continued)** | **Software (continued)** |  |
| Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;725 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36576 |
| PROS Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18996 |
| PTC, Inc. (A) | &nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;231917 |
| Q2 Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26359 |
| Qualtrics International, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29334 |
| Qualys, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71154 |
| Rapid7, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33606 |
| Rimini Street, Inc. (A) | &nbsp;&nbsp;&nbsp;1519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5787 |
| RingCentral, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50587 |
| Riot Blockchain, Inc. (A) | &nbsp;&nbsp;&nbsp;2534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8590 |
| Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;1735 | &nbsp;&nbsp;&nbsp;&nbsp;749676 |
| Rubicon Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 |
| salesforce.com, Inc. (A) | &nbsp;&nbsp;16385 | &nbsp;&nbsp;&nbsp;2172487 |
| Samsara, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23890 |
| SecureWorks Corp., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3463 |
| SEMrush Holdings, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6903 |
| SentinelOne, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50058 |
| ServiceNow, Inc. (A) | &nbsp;&nbsp;&nbsp;3311 | &nbsp;&nbsp;&nbsp;1285562 |
| ShotSpotter, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8085 |
| Smartsheet, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85214 |
| Smith Micro Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876 |
| SolarWinds Corp. (A) | &nbsp;&nbsp;&nbsp;2802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26227 |
| Splunk, Inc. (A) | &nbsp;&nbsp;&nbsp;2677 | &nbsp;&nbsp;&nbsp;&nbsp;230463 |
| Sprinklr, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16536 |
| Sprout Social, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44265 |
| SPS Commerce, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76287 |
| Sumo Logic, Inc. (A) | &nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14969 |
| Synopsys, Inc. (A) | &nbsp;&nbsp;&nbsp;2504 | &nbsp;&nbsp;&nbsp;&nbsp;799502 |
| Telos Corp. (A) | &nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5345 |
| Tenable Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;1864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71112 |
| Teradata Corp. (A) | &nbsp;&nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57188 |
| Tyler Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;220528 |
| UiPath, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;7709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97981 |
| Unity Software, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;6748 | &nbsp;&nbsp;&nbsp;&nbsp;192925 |
| Upland Software, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943 |
| UserTesting, Inc. (A) | &nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17371 |
| Varonis Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44337 |
| Verint Systems, Inc. (A) | &nbsp;&nbsp;&nbsp;1108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40198 |
| Veritone, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2671 |
| Vertex, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12537 |
| Viant Technology, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597 |
| VirnetX Holding Corp. (A) | &nbsp;&nbsp;&nbsp;1593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071 |
| VMware, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;6920 | &nbsp;&nbsp;&nbsp;&nbsp;849499 |
| Weave Communications, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438 |
| Workday, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;552189 |
| Workiva, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67848 |
| Xperi, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7172 |
| Yext, Inc. (A) | &nbsp;&nbsp;&nbsp;2165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14137 |
| Zeta Global Holdings Corp., Class A (A) | &nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23873 |
| Zoom Video Communications, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;4121 | &nbsp;&nbsp;&nbsp;&nbsp;279157 |
| Zscaler, Inc. (A) | &nbsp;&nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp;261063 |
| Zuora, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14278 |
|  |  | 55817848 |
| **Technology hardware, storage and peripherals – 5.3%** | **Technology hardware, storage and peripherals – 5.3%** |  |
| Apple, Inc. | 263248 | 34203755 |
| Avid Technology, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21378 |
| Corsair Gaming, Inc. (A) | &nbsp;&nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20124 |
| CPI Card Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5520 |
| Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp;171377 |
| Diebold Nixdorf, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 |
| Eastman Kodak Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577 |
| Hewlett Packard Enterprise Company | &nbsp;&nbsp;21188 | &nbsp;&nbsp;&nbsp;&nbsp;338160 |
| HP, Inc. | &nbsp;&nbsp;16516 | &nbsp;&nbsp;&nbsp;&nbsp;443785 |
| Immersion Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5139 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 188 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Technology hardware, storage and peripherals (continued)** | **Technology hardware, storage and peripherals (continued)** |  |
| Intevac, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;711 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 |
| IonQ, Inc. (A)(B) | &nbsp;&nbsp;3046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10509 |
| NetApp, Inc. | &nbsp;&nbsp;3587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215435 |
| Pure Storage, Inc., Class A (A) | &nbsp;&nbsp;4903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131204 |
| TransAct Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 |
| Turtle Beach Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534 |
| Western Digital Corp. (A) | &nbsp;&nbsp;5196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163934 |
| Xerox Holdings Corp. | &nbsp;&nbsp;2690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39274 |
|  |  | &nbsp;&nbsp;&nbsp;35779589 |
|  |  | 156454296 |
| **Materials – 2.5%** |  |  |
| **Chemicals – 1.4%** | **Chemicals – 1.4%** |  |
| AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19922 |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp;1123299 |
| Albemarle Corp. | &nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417672 |
| American Vanguard Corp. | &nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13721 |
| Amyris, Inc. (A)(B) | &nbsp;&nbsp;5405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8270 |
| Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94841 |
| Aspen Aerogels, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7215 |
| Avient Corp. | &nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52463 |
| Axalta Coating Systems, Ltd. (A) | &nbsp;&nbsp;3693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94061 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55804 |
| Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64501 |
| Celanese Corp. | &nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174012 |
| CF Industries Holdings, Inc. | &nbsp;&nbsp;3285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279882 |
| Chase Corp. | &nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16734 |
| Core Molding Technologies, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 |
| Corteva, Inc. | 11797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693428 |
| CVR Nitrogen LP (A)(C) | &nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 |
| Danimer Scientific, Inc. (A) | &nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2717 |
| Diversey Holdings, Ltd. (A) | &nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20768 |
| Dow, Inc. | 11811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595156 |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;8233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565031 |
| Eastman Chemical Company | &nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167278 |
| Ecolab, Inc. | &nbsp;&nbsp;4686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682094 |
| Ecovyst, Inc. (A) | &nbsp;&nbsp;2475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21929 |
| Element Solutions, Inc. | &nbsp;&nbsp;3435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62483 |
| Flotek Industries, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032 |
| FMC Corp. | &nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261082 |
| FutureFuel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8016 |
| Ginkgo Bioworks Holdings, Inc. (A)(B) | 22649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38277 |
| Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16019 |
| HB Fuller Company | &nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65317 |
| Huntsman Corp. | &nbsp;&nbsp;3388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93102 |
| Ingevity Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46420 |
| Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40835 |
| International Flavors & Fragrances, Inc. | &nbsp;&nbsp;4203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440643 |
| Intrepid Potash, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4446 |
| Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998 |
| Kronos Worldwide, Inc. | &nbsp;&nbsp;2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19496 |
| Livent Corp. (A) | &nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58815 |
| LSB Industries, Inc. (A) | &nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16958 |
| Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20607 |
| Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28478 |
| NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36711 |
| Olin Corp. | &nbsp;&nbsp;2402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127162 |
| Origin Materials, Inc. (A) | &nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8777 |
| PPG Industries, Inc. | &nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487368 |
| PureCycle Technologies, Inc. (A) | &nbsp;&nbsp;2459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16623 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51906 |
| Rayonier Advanced Materials, Inc. (A) | &nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11462 |
| RPM International, Inc. | &nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197434 |
| Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52211 |
| Sisecam Resources LP | &nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638 |
| Stepan Company | &nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24166 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| The Chemours Company | &nbsp;&nbsp;2600 | $&nbsp;&nbsp;&nbsp;&nbsp;79612 |
| The Mosaic Company | &nbsp;&nbsp;5701 | &nbsp;&nbsp;&nbsp;&nbsp;250103 |
| The Scotts Miracle-Gro Company | &nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp;45383 |
| The Sherwin-Williams Company | &nbsp;&nbsp;4252 | 1009127 |
| Tredegar Corp. | &nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8391 |
| Trinseo PLC | &nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;11491 |
| Valhi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;518 | &nbsp;&nbsp;&nbsp;&nbsp;11396 |
| Valvoline, Inc. | &nbsp;&nbsp;2971 | &nbsp;&nbsp;&nbsp;&nbsp;97003 |
| Westlake Chemical Partners LP | &nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;18777 |
| Westlake Corp. | &nbsp;&nbsp;2089 | &nbsp;&nbsp;&nbsp;&nbsp;214206 |
|  |  | 9165224 |
| **Construction materials – 0.1%** | **Construction materials – 0.1%** |  |
| Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp;84493 |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;332562 |
| Summit Materials, Inc., Class A (A) | &nbsp;&nbsp;2228 | &nbsp;&nbsp;&nbsp;&nbsp;63260 |
| United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;16047 |
| Vulcan Materials Company | &nbsp;&nbsp;2081 | &nbsp;&nbsp;&nbsp;&nbsp;364404 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;860766 |
| **Containers and packaging – 0.3%** | **Containers and packaging – 0.3%** |  |
| AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;916 | &nbsp;&nbsp;&nbsp;&nbsp;100742 |
| Avery Dennison Corp. | &nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp;242721 |
| Ball Corp. | &nbsp;&nbsp;5183 | &nbsp;&nbsp;&nbsp;&nbsp;265059 |
| Berry Global Group, Inc. | &nbsp;&nbsp;2045 | &nbsp;&nbsp;&nbsp;&nbsp;123579 |
| Crown Holdings, Inc. | &nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp;164913 |
| Graphic Packaging Holding Company | &nbsp;&nbsp;5165 | &nbsp;&nbsp;&nbsp;&nbsp;114921 |
| Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;53916 |
| International Paper Company | &nbsp;&nbsp;6017 | &nbsp;&nbsp;&nbsp;&nbsp;208369 |
| Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;15783 |
| O-I Glass, Inc. (A) | &nbsp;&nbsp;2612 | &nbsp;&nbsp;&nbsp;&nbsp;43281 |
| Packaging Corp. of America | &nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp;190714 |
| Pactiv Evergreen, Inc. | &nbsp;&nbsp;2656 | &nbsp;&nbsp;&nbsp;&nbsp;30172 |
| Ranpak Holdings Corp. (A) | &nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7011 |
| Sealed Air Corp. | &nbsp;&nbsp;2299 | &nbsp;&nbsp;&nbsp;&nbsp;114674 |
| Silgan Holdings, Inc. | &nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;81130 |
| Sonoco Products Company | &nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;90336 |
| TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;22358 |
| Westrock Company | &nbsp;&nbsp;4256 | &nbsp;&nbsp;&nbsp;&nbsp;149641 |
|  |  | 2019320 |
| **Metals and mining – 0.7%** | **Metals and mining – 0.7%** |  |
| 5E Advanced Materials, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020 |
| Alcoa Corp. | &nbsp;&nbsp;2975 | &nbsp;&nbsp;&nbsp;&nbsp;135273 |
| Alpha Metallurgical Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;42599 |
| Arconic Corp. (A) | &nbsp;&nbsp;1745 | &nbsp;&nbsp;&nbsp;&nbsp;36924 |
| ATI, Inc. (A) | &nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;65274 |
| Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;31584 |
| Century Aluminum Company (A) | &nbsp;&nbsp;1672 | &nbsp;&nbsp;&nbsp;&nbsp;13677 |
| Cleveland-Cliffs, Inc. (A) | &nbsp;&nbsp;8565 | &nbsp;&nbsp;&nbsp;&nbsp;137982 |
| Coeur Mining, Inc. (A) | &nbsp;&nbsp;4942 | &nbsp;&nbsp;&nbsp;&nbsp;16605 |
| Commercial Metals Company | &nbsp;&nbsp;1876 | &nbsp;&nbsp;&nbsp;&nbsp;90611 |
| Compass Minerals International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;664 | &nbsp;&nbsp;&nbsp;&nbsp;27224 |
| Dakota Gold Corp. (A) | &nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260 |
| Freeport-McMoRan, Inc. | 23456 | &nbsp;&nbsp;&nbsp;&nbsp;891328 |
| Gatos Silver, Inc. (A) | &nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4479 |
| Haynes International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp;11925 |
| Hecla Mining Company | &nbsp;&nbsp;9827 | &nbsp;&nbsp;&nbsp;&nbsp;54638 |
| Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;21952 |
| Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp;31941 |
| MP Materials Corp. (A) | &nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp;72282 |
| Newmont Corp. | 13103 | &nbsp;&nbsp;&nbsp;&nbsp;618462 |
| Nucor Corp. | &nbsp;&nbsp;4301 | &nbsp;&nbsp;&nbsp;&nbsp;566915 |
| Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8798 |
| Pan American Silver Corp., CVR (A) | &nbsp;&nbsp;7232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4129 |
| Piedmont Lithium, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;12590 |
| Ramaco Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5054 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 189 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Metals and mining (continued)** | **Metals and mining (continued)** |  |
| Reliance Steel & Aluminum Company | &nbsp;&nbsp;&nbsp;&nbsp;910 | $&nbsp;&nbsp;&nbsp;&nbsp;184220 |
| Royal Gold, Inc. | &nbsp;&nbsp;1062 | &nbsp;&nbsp;&nbsp;&nbsp;119709 |
| Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19941 |
| Schnitzer Steel Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16306 |
| Southern Copper Corp. | 12711 | &nbsp;&nbsp;&nbsp;&nbsp;767617 |
| Steel Dynamics, Inc. | &nbsp;&nbsp;3015 | &nbsp;&nbsp;&nbsp;&nbsp;294566 |
| SunCoke Energy, Inc. | &nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13446 |
| TimkenSteel Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15281 |
| U.S. Steel Corp. | &nbsp;&nbsp;3939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98672 |
| US Gold Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 |
| Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30449 |
| Worthington Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39420 |
|  |  | &nbsp;&nbsp;&nbsp;4510839 |
| **Paper and forest products – 0.0%** | **Paper and forest products – 0.0%** |  |
| Clearwater Paper Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11986 |
| Glatfelter Corp. | &nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777 |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71336 |
| Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32895 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;118994 |
|  |  | 16675143 |
| **Real estate – 3.1%** |  |  |
| **Equity real estate investment trusts – 2.9%** | **Equity real estate investment trusts – 2.9%** |  |
| Acadia Realty Trust | &nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26002 |
| Agree Realty Corp. | &nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84619 |
| Alexander & Baldwin, Inc. | &nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26428 |
| Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23106 |
| Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;2515 | &nbsp;&nbsp;&nbsp;&nbsp;366360 |
| American Assets Trust, Inc. | &nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30502 |
| American Homes 4 Rent, Class A | &nbsp;&nbsp;5853 | &nbsp;&nbsp;&nbsp;&nbsp;176409 |
| American Tower Corp. | &nbsp;&nbsp;7641 | &nbsp;&nbsp;&nbsp;1618822 |
| Americold Realty Trust, Inc. | &nbsp;&nbsp;4289 | &nbsp;&nbsp;&nbsp;&nbsp;121422 |
| Apartment Income REIT Corp. | &nbsp;&nbsp;2626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90098 |
| Apartment Investment and Management Company, Class A | &nbsp;&nbsp;2711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19302 |
| Apple Hospitality REIT, Inc. | &nbsp;&nbsp;3995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63041 |
| Armada Hoffler Properties, Inc. | &nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14134 |
| Ashford Hospitality Trust, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985 |
| AvalonBay Communities, Inc. | &nbsp;&nbsp;2283 | &nbsp;&nbsp;&nbsp;&nbsp;368750 |
| Bluerock Homes Trust, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811 |
| Boston Properties, Inc. | &nbsp;&nbsp;2594 | &nbsp;&nbsp;&nbsp;&nbsp;175303 |
| Braemar Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 |
| Brandywine Realty Trust | &nbsp;&nbsp;3382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20799 |
| Brixmor Property Group, Inc. | &nbsp;&nbsp;5029 | &nbsp;&nbsp;&nbsp;&nbsp;114007 |
| Broadstone Net Lease, Inc. | &nbsp;&nbsp;2365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38337 |
| BRT Apartments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7561 |
| Camden Property Trust | &nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp;173526 |
| CareTrust REIT, Inc. | &nbsp;&nbsp;1737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32273 |
| CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009 |
| Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13259 |
| Chatham Lodging Trust | &nbsp;&nbsp;1043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12798 |
| Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16898 |
| Corporate Office Properties Trust | &nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52113 |
| Cousins Properties, Inc. | &nbsp;&nbsp;2664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67373 |
| Crown Castle, Inc. | &nbsp;&nbsp;7119 | &nbsp;&nbsp;&nbsp;&nbsp;965621 |
| CubeSmart | &nbsp;&nbsp;3744 | &nbsp;&nbsp;&nbsp;&nbsp;150696 |
| DiamondRock Hospitality Company | &nbsp;&nbsp;3725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30508 |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;4744 | &nbsp;&nbsp;&nbsp;&nbsp;475681 |
| Douglas Emmett, Inc. | &nbsp;&nbsp;2995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46962 |
| Easterly Government Properties, Inc. | &nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22275 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp;109712 |
| Elme Communities | &nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29281 |
| Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;2981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20092 |
| EPR Properties | &nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49300 |
| Equinix, Inc. | &nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp;981890 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Equity Commonwealth | &nbsp;&nbsp;&nbsp;&nbsp;885 | $&nbsp;&nbsp;&nbsp;&nbsp;22098 |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;2967 | &nbsp;&nbsp;&nbsp;&nbsp;191668 |
| Equity Residential | &nbsp;&nbsp;6236 | &nbsp;&nbsp;&nbsp;&nbsp;367924 |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;1951 | &nbsp;&nbsp;&nbsp;&nbsp;45790 |
| Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;203655 |
| Extra Space Storage, Inc. | &nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp;325121 |
| Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;11588 |
| Federal Realty Investment Trust | &nbsp;&nbsp;1354 | &nbsp;&nbsp;&nbsp;&nbsp;136808 |
| First Industrial Realty Trust, Inc. | &nbsp;&nbsp;2253 | &nbsp;&nbsp;&nbsp;&nbsp;108730 |
| Four Corners Property Trust, Inc. | &nbsp;&nbsp;1453 | &nbsp;&nbsp;&nbsp;&nbsp;37676 |
| Franklin Street Properties Corp. | &nbsp;&nbsp;2261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6173 |
| Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;4293 | &nbsp;&nbsp;&nbsp;&nbsp;223622 |
| Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp;29822 |
| Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp;14671 |
| Gladstone Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;706 | &nbsp;&nbsp;&nbsp;&nbsp;12955 |
| Global Medical REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8096 |
| Global Net Lease, Inc. | &nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp;24210 |
| Healthcare Realty Trust, Inc. | &nbsp;&nbsp;6370 | &nbsp;&nbsp;&nbsp;&nbsp;122750 |
| Healthpeak Properties, Inc. | &nbsp;&nbsp;9008 | &nbsp;&nbsp;&nbsp;&nbsp;225831 |
| Hersha Hospitality Trust, Class A | &nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7259 |
| Highwoods Properties, Inc. | &nbsp;&nbsp;1854 | &nbsp;&nbsp;&nbsp;&nbsp;51875 |
| Host Hotels & Resorts, Inc. | 11886 | &nbsp;&nbsp;&nbsp;&nbsp;190770 |
| Hudson Pacific Properties, Inc. | &nbsp;&nbsp;2615 | &nbsp;&nbsp;&nbsp;&nbsp;25444 |
| Independence Realty Trust, Inc. | &nbsp;&nbsp;3277 | &nbsp;&nbsp;&nbsp;&nbsp;55250 |
| Indus Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;11809 |
| Industrial Logistics Properties Trust | &nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872 |
| Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp;44695 |
| Invitation Homes, Inc. | 10123 | &nbsp;&nbsp;&nbsp;&nbsp;300046 |
| Iron Mountain, Inc. | &nbsp;&nbsp;4804 | &nbsp;&nbsp;&nbsp;&nbsp;239479 |
| iStar, Inc. | &nbsp;&nbsp;1236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9431 |
| JBG SMITH Properties | &nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;38985 |
| Kilroy Realty Corp. | &nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp;78036 |
| Kimco Realty Corp. | 10305 | &nbsp;&nbsp;&nbsp;&nbsp;218260 |
| Kite Realty Group Trust | &nbsp;&nbsp;3726 | &nbsp;&nbsp;&nbsp;&nbsp;78432 |
| Lamar Advertising Company, Class A | &nbsp;&nbsp;1479 | &nbsp;&nbsp;&nbsp;&nbsp;139618 |
| Life Storage, Inc. | &nbsp;&nbsp;1345 | &nbsp;&nbsp;&nbsp;&nbsp;132483 |
| LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;26612 |
| LXP Industrial Trust | &nbsp;&nbsp;4958 | &nbsp;&nbsp;&nbsp;&nbsp;49679 |
| Medical Properties Trust, Inc. | 10043 | &nbsp;&nbsp;&nbsp;&nbsp;111879 |
| Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;1807 | &nbsp;&nbsp;&nbsp;&nbsp;283681 |
| National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;41097 |
| National Retail Properties, Inc. | &nbsp;&nbsp;3009 | &nbsp;&nbsp;&nbsp;&nbsp;137692 |
| National Storage Affiliates Trust | &nbsp;&nbsp;1277 | &nbsp;&nbsp;&nbsp;&nbsp;46125 |
| Necessity Retail REIT, Inc. | &nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;&nbsp;14190 |
| NETSTREIT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9073 |
| New York REIT Liquidating LLC (A)(C) | &nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805 |
| NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;20890 |
| Office Properties Income Trust | &nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;14738 |
| Omega Healthcare Investors, Inc. | &nbsp;&nbsp;3924 | &nbsp;&nbsp;&nbsp;&nbsp;109676 |
| One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;547 | &nbsp;&nbsp;&nbsp;&nbsp;12154 |
| Orion Office REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8395 |
| Outfront Media, Inc. | &nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;45297 |
| Paramount Group, Inc. | &nbsp;&nbsp;4071 | &nbsp;&nbsp;&nbsp;&nbsp;24182 |
| Park Hotels & Resorts, Inc. | &nbsp;&nbsp;3834 | &nbsp;&nbsp;&nbsp;&nbsp;45203 |
| Pebblebrook Hotel Trust | &nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp;30931 |
| Phillips Edison & Company, Inc. | &nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp;49034 |
| Physicians Realty Trust | &nbsp;&nbsp;3981 | &nbsp;&nbsp;&nbsp;&nbsp;57605 |
| Piedmont Office Realty Trust, Inc., Class A | &nbsp;&nbsp;2477 | &nbsp;&nbsp;&nbsp;&nbsp;22714 |
| Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8784 |
| PotlatchDeltic Corp. | &nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;62950 |
| Prologis, Inc. | 15171 | 1710227 |
| Public Storage | &nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;806387 |
| Rayonier, Inc. | &nbsp;&nbsp;2536 | &nbsp;&nbsp;&nbsp;&nbsp;83587 |
| Realty Income Corp. | &nbsp;&nbsp;9835 | &nbsp;&nbsp;&nbsp;&nbsp;623834 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 190 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Equity real estate investment trusts (continued)** | **Equity real estate investment trusts (continued)** |  |
| Regency Centers Corp. | &nbsp;&nbsp;2885 | $&nbsp;&nbsp;&nbsp;&nbsp;180313 |
| Retail Opportunity Investments Corp. | &nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34870 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp;142501 |
| RLJ Lodging Trust | &nbsp;&nbsp;2896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30669 |
| RPT Realty | &nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15512 |
| Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76055 |
| Sabra Health Care REIT, Inc. | &nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50988 |
| Safehold, Inc. | &nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30509 |
| Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19933 |
| SBA Communications Corp. | &nbsp;&nbsp;1775 | &nbsp;&nbsp;&nbsp;&nbsp;497550 |
| Service Properties Trust | &nbsp;&nbsp;3030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22089 |
| Simon Property Group, Inc. | &nbsp;&nbsp;5380 | &nbsp;&nbsp;&nbsp;&nbsp;632042 |
| SITE Centers Corp. | &nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50487 |
| SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25931 |
| Spirit Realty Capital, Inc. | &nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80818 |
| STAG Industrial, Inc. | &nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94087 |
| STORE Capital Corp. | &nbsp;&nbsp;4692 | &nbsp;&nbsp;&nbsp;&nbsp;150426 |
| Summit Hotel Properties, Inc. | &nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15689 |
| Sun Communities, Inc. | &nbsp;&nbsp;1906 | &nbsp;&nbsp;&nbsp;&nbsp;272558 |
| Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;3688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35626 |
| Tanger Factory Outlet Centers, Inc. | &nbsp;&nbsp;1832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32866 |
| Terreno Realty Corp. | &nbsp;&nbsp;1329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75580 |
| The Macerich Company | &nbsp;&nbsp;3280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36933 |
| UDR, Inc. | &nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp;202364 |
| UMH Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15424 |
| Uniti Group, Inc. | &nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22872 |
| Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13985 |
| Urban Edge Properties | &nbsp;&nbsp;2162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30463 |
| Urstadt Biddle Properties, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14914 |
| Ventas, Inc. | &nbsp;&nbsp;6624 | &nbsp;&nbsp;&nbsp;&nbsp;298411 |
| Veris Residential, Inc. (A) | &nbsp;&nbsp;1641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26141 |
| VICI Properties, Inc. | 15179 | &nbsp;&nbsp;&nbsp;&nbsp;491800 |
| Vornado Realty Trust | &nbsp;&nbsp;3256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67757 |
| Welltower, Inc. | &nbsp;&nbsp;7629 | &nbsp;&nbsp;&nbsp;&nbsp;500081 |
| Weyerhaeuser Company | 12269 | &nbsp;&nbsp;&nbsp;&nbsp;380339 |
| Whitestone REIT | &nbsp;&nbsp;&nbsp;&nbsp;991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9553 |
| WP Carey, Inc. | &nbsp;&nbsp;3216 | &nbsp;&nbsp;&nbsp;&nbsp;251330 |
| Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27243 |
|  |  | 19813147 |
| **Real estate management and development – 0.2%** | **Real estate management and development – 0.2%** |  |
| Anywhere Real Estate, Inc. (A) | &nbsp;&nbsp;1533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9796 |
| CBRE Group, Inc., Class A (A) | &nbsp;&nbsp;5323 | &nbsp;&nbsp;&nbsp;&nbsp;409658 |
| Compass, Inc., Class A (A) | &nbsp;&nbsp;6964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16226 |
| DigitalBridge Group, Inc. | &nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28105 |
| Douglas Elliman, Inc. | &nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5718 |
| eXp World Holdings, Inc. | &nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29362 |
| Fathom Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 |
| Five Point Holdings LLC, Class A (A) | &nbsp;&nbsp;2087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4863 |
| Forestar Group, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15395 |
| FRP Holdings, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12172 |
| Jones Lang LaSalle, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;813 | &nbsp;&nbsp;&nbsp;&nbsp;129568 |
| Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;2447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38491 |
| Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24391 |
| Maui Land & Pineapple Company, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487 |
| Newmark Group, Inc., Class A | &nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23296 |
| Opendoor Technologies, Inc. (A) | 10757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12478 |
| Rafael Holdings, Inc., Class B (A) | &nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 |
| RE/MAX Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6971 |
| Redfin Corp. (A) | &nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149 |
| Seritage Growth Properties, Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10245 |
| Tejon Ranch Company (A) | &nbsp;&nbsp;&nbsp;&nbsp;577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10871 |
| The Howard Hughes Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65033 |
| The RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8786 |
| The St. Joe Company | &nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40235 |
| WeWork, Inc., Class A (A) | 11121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15903 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Real estate management and development (continued)** | **Real estate management and development (continued)** |  |
| Zillow Group, Inc., Class A (A) | &nbsp;&nbsp;&nbsp;&nbsp;45 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404 |
| Zillow Group, Inc., Class C (A) | &nbsp;&nbsp;3654 | &nbsp;&nbsp;&nbsp;&nbsp;117695 |
|  |  | &nbsp;&nbsp;&nbsp;1049154 |
|  |  | 20862301 |
| **Utilities – 2.9%** |  |  |
| **Electric utilities – 1.8%** | **Electric utilities – 1.8%** |  |
| ALLETE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62639 |
| Alliant Energy Corp. | &nbsp;&nbsp;3580 | &nbsp;&nbsp;&nbsp;&nbsp;197652 |
| American Electric Power Company, Inc. | &nbsp;&nbsp;8433 | &nbsp;&nbsp;&nbsp;&nbsp;800713 |
| Avangrid, Inc. | &nbsp;&nbsp;5981 | &nbsp;&nbsp;&nbsp;&nbsp;257063 |
| Constellation Energy Corp. | &nbsp;&nbsp;5375 | &nbsp;&nbsp;&nbsp;&nbsp;463379 |
| Duke Energy Corp. | 12617 | &nbsp;&nbsp;&nbsp;1299425 |
| Edison International | &nbsp;&nbsp;6285 | &nbsp;&nbsp;&nbsp;&nbsp;399852 |
| Entergy Corp. | &nbsp;&nbsp;3343 | &nbsp;&nbsp;&nbsp;&nbsp;376088 |
| Evergy, Inc. | &nbsp;&nbsp;3792 | &nbsp;&nbsp;&nbsp;&nbsp;238631 |
| Eversource Energy | &nbsp;&nbsp;5697 | &nbsp;&nbsp;&nbsp;&nbsp;477636 |
| Exelon Corp. | 16307 | &nbsp;&nbsp;&nbsp;&nbsp;704952 |
| FirstEnergy Corp. | &nbsp;&nbsp;9399 | &nbsp;&nbsp;&nbsp;&nbsp;394194 |
| Genie Energy, Ltd., B Shares | &nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6369 |
| Hawaiian Electric Industries, Inc. | &nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76753 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92104 |
| MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45830 |
| NextEra Energy, Inc. | 32565 | &nbsp;&nbsp;&nbsp;2722434 |
| NRG Energy, Inc. | &nbsp;&nbsp;3773 | &nbsp;&nbsp;&nbsp;&nbsp;120057 |
| OGE Energy Corp. | &nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp;132493 |
| Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41978 |
| PG&E Corp. (A) | 32629 | &nbsp;&nbsp;&nbsp;&nbsp;530548 |
| Pinnacle West Capital Corp. | &nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp;136568 |
| PNM Resources, Inc. | &nbsp;&nbsp;1428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69672 |
| Portland General Electric Company | &nbsp;&nbsp;1498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73402 |
| PPL Corp. | 12166 | &nbsp;&nbsp;&nbsp;&nbsp;355491 |
| The Southern Company | 17831 | &nbsp;&nbsp;&nbsp;1273312 |
| Via Renewables, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199 |
| Xcel Energy, Inc. | &nbsp;&nbsp;8988 | &nbsp;&nbsp;&nbsp;&nbsp;630149 |
|  |  | 11982583 |
| **Gas utilities – 0.2%** | **Gas utilities – 0.2%** |  |
| Atmos Energy Corp. | &nbsp;&nbsp;2179 | &nbsp;&nbsp;&nbsp;&nbsp;244201 |
| Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36636 |
| National Fuel Gas Company | &nbsp;&nbsp;1545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97799 |
| New Jersey Resources Corp. | &nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80980 |
| Northwest Natural Holding Company | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29744 |
| ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69132 |
| RGC Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027 |
| South Jersey Industries, Inc. | &nbsp;&nbsp;1973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70101 |
| Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52474 |
| Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61010 |
| Star Group LP | &nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11074 |
| Suburban Propane Partners LP | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18884 |
| UGI Corp. | &nbsp;&nbsp;3409 | &nbsp;&nbsp;&nbsp;&nbsp;126372 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;903434 |
| **Independent power and renewable electricity producers –<br> 0.1%** | **Independent power and renewable electricity producers –<br> 0.1%** |  |
| Altus Power, Inc. (A) | &nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15257 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084 |
| Clearway Energy, Inc., Class A | &nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33570 |
| Clearway Energy, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31041 |
| Montauk Renewables, Inc. (A) | &nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24487 |
| NextEra Energy Partners LP | &nbsp;&nbsp;1301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91187 |
| Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80772 |
| Sunnova Energy International, Inc. (A) | &nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34669 |
| The AES Corp. | 10972 | &nbsp;&nbsp;&nbsp;&nbsp;315555 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 191 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Stock Market Index Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Independent power and renewable electricity<br> producers (continued)** | **Independent power and renewable electricity<br> producers (continued)** |  |
| Vistra Corp. | &nbsp;&nbsp;6881 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789261 |
| **Multi-utilities – 0.7%** | **Multi-utilities – 0.7%** |  |
| Ameren Corp. | &nbsp;&nbsp;4112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365639 |
| Avista Corp. | &nbsp;&nbsp;1244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55159 |
| Black Hills Corp. | &nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76671 |
| CenterPoint Energy, Inc. | 10375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311146 |
| CMS Energy Corp. | &nbsp;&nbsp;4773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302274 |
| Consolidated Edison, Inc. | &nbsp;&nbsp;5822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554895 |
| Dominion Energy, Inc. | 13623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835362 |
| DTE Energy Company | &nbsp;&nbsp;3181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373863 |
| NiSource, Inc. | &nbsp;&nbsp;6682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183220 |
| NorthWestern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57026 |
| Public Service Enterprise Group, Inc. | &nbsp;&nbsp;8234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504497 |
| Sempra Energy | &nbsp;&nbsp;5159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797272 |
| Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16230 |
| WEC Energy Group, Inc. | &nbsp;&nbsp;5181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485771 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4919025 |
| **Water utilities – 0.1%** | **Water utilities – 0.1%** |  |
| American States Water Company | &nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58214 |
| American Water Works Company, Inc. | &nbsp;&nbsp;2988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455431 |
| Artesian Resources Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11306 |
| Cadiz, Inc. (A) | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880 |
| California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56638 |
| Essential Utilities, Inc. | &nbsp;&nbsp;3844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183474 |
| Global Water Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7902 |
| Middlesex Water Company | &nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25489 |
| Pure Cycle Corp. (A) | &nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6445 |
| SJW Group | &nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42787 |
| The York Water Company | &nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13854 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863420 |
|  |  | &nbsp;&nbsp;&nbsp;19457723 |
| TOTAL COMMON STOCKS (Cost $328,118,894) | TOTAL COMMON STOCKS (Cost $328,118,894) | $651574987 |
| **PREFERRED SECURITIES – 0.0%** |  |  |
| **Consumer discretionary – 0.0%** |  |  |
| **Internet and direct marketing retail – 0.0%** | **Internet and direct marketing retail – 0.0%** |  |
| Qurate Retail, Inc., 8.000% | &nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 |
| **Industrials – 0.0%** |  |  |
| **Industrial conglomerates – 0.0%** | **Industrial conglomerates – 0.0%** |  |
| Steel Partners Holdings LP, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11715 |
| **Information technology – 0.0%** |  |  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **PREFERRED SECURITIES (continued)** |  |  |
| **Semiconductors and semiconductor equipment – 0.0%** | **Semiconductors and semiconductor equipment – 0.0%** |  |
| Meta Materials, Inc. (A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;2456 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 |
| TOTAL PREFERRED SECURITIES (Cost $89,143) | TOTAL PREFERRED SECURITIES (Cost $89,143) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27733 |
| **WARRANTS – 0.0%** |  |  |
| Chord Energy Corp. (Expiration Date: 11-19-24; Strike Price: $90.57) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953 |
| Denbury, Inc. (Expiration Date: 9-18-23; Strike Price: $35.41) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 |
| Nabors Industries, Ltd. (Expiration Date: 6-11-26; Strike Price: $166.67) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533 |
| Tidewater, Inc., Class A (Expiration Date: 7-31-23; Strike Price: $57.06) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 |
| Tidewater, Inc., Class B (Expiration Date: 7-31-23; Strike Price: $62.28) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| Triumph Group, Inc. (Expiration Date: 12-19-23; Strike Price: $12.35) (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 |
| TOTAL WARRANTS (Cost $120,153) | TOTAL WARRANTS (Cost $120,153) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 |
| **SHORT-TERM INVESTMENTS – 3.8%** | **SHORT-TERM INVESTMENTS – 3.8%** |  |
| **Short-term funds – 3.8%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | 2527141 | &nbsp;&nbsp;&nbsp;25260797 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $25,259,777) | TOTAL SHORT-TERM INVESTMENTS (Cost $25,259,777) | $&nbsp;&nbsp;&nbsp;25260797 |
| **Total Investments (Total Stock Market Index Trust)<br> (Cost $353,587,967) – 100.3%** | **Total Investments (Total Stock Market Index Trust)<br> (Cost $353,587,967) – 100.3%** | $**676869554** |
| **Other assets and liabilities, net – (0.3%)** | **Other assets and liabilities, net – (0.3%)** | &nbsp;&nbsp;&nbsp;**(1896243)** |
| **TOTAL NET ASSETS – 100.0%** | **TOTAL NET ASSETS – 100.0%** | $**674973311** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| (A) | Non-income producing security. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $2,765,647. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| Russell 2000 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3391119 | &nbsp;&nbsp;&nbsp;&nbsp;$3364710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(26409) |
| S&P 500 E-Mini Index Futures | &nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;20265486 | &nbsp;&nbsp;&nbsp;&nbsp;20077200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188286) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(214695)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 192 |

---

------

![](g24wjiskav67pxsdqj5sp.jpg)

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of 500 Index Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust, American International Trust, Blue Chip Growth Trust, Capital Appreciation Trust, Capital Appreciation Value Trust, Disciplined Value International Trust, Emerging Markets Value Trust, Equity Income Trust, Financial Industries Trust, Fundamental All Cap Core Trust, Fundamental Large Cap Value Trust, Global Equity Trust, Health Sciences Trust, International Equity Index Trust, International Small Company Trust, Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, Mid Cap Index Trust, Mid Cap Growth Trust, Mid Value Trust, Real Estate Securities Trust, Science & Technology Trust, Small Cap Index Trust, Small Cap Opportunities Trust, Small Cap Stock Trust, Small Cap Value Trust, Small Company Value Trust, Strategic Equity Allocation Trust and Total Stock Market Index Trust

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of 500 Index Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust, American International Trust, Blue Chip Growth Trust, Capital Appreciation Trust, Capital Appreciation Value Trust, Disciplined Value International Trust, Emerging Markets Value Trust, Equity Income Trust, Financial Industries Trust, Fundamental All Cap Core Trust, Fundamental Large Cap Value Trust, Global Equity Trust, Health Sciences Trust, International Equity Index Trust, International Small Company Trust, Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, Mid Cap Index Trust, Mid Cap Growth Trust, Mid Value Trust, Real Estate Securities Trust, Science & Technology Trust, Small Cap Index Trust, Small Cap Opportunities Trust, Small Cap Stock Trust, Small Cap Value Trust, Small Company Value Trust, Strategic Equity Allocation Trust and Total Stock Market Index Trust (thirty-five of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (included in Item 1 of this Form N-CSR) and the portfolios of investments (included in Item 6 of this Form N-CSR) as of December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210 T: (617) 530 5000, F: (617) 530 5001, www.pwc.com/us

![](gdg54usv2d8i1y4jqpzn9.jpg)

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

Boston, Massachusetts

February 21, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

2 of 2

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![](imga3cc98d41.gif)

![](imgace8e3412.gif)

## JOHN HANCOCK

## Variable Insurance Trust

### Bond Trusts
Annual report

December 31, 2022

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 38.7%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 38.7%** |  |
| **U.S. Government – 15.2%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076328 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867500 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240781 |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964297 |
| &nbsp;&nbsp;&nbsp;2.250%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255273 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7566000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5696075 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27333000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22501527 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4253356 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 to 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7867758 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445117 |
| &nbsp;&nbsp;&nbsp;1.375%, 11/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255625 |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522930 |
| &nbsp;&nbsp;&nbsp;2.375%, 05/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593828 |
| &nbsp;&nbsp;&nbsp;2.875%, 08/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6591758 |
| &nbsp;&nbsp;&nbsp;3.875%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774742 |
| &nbsp;&nbsp;&nbsp;4.125%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305417 |
| &nbsp;&nbsp;&nbsp;4.250%, 10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015206 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83227518 |
| **U.S. Government Agency – 23.5%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563026 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 12/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4791739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318027 |
| &nbsp;&nbsp;&nbsp;3.500%, 10/01/2046 to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12786977 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2052 to 04/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908684 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2041 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591609 |
| &nbsp;&nbsp;&nbsp;4.500%, 09/01/2023 to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4494664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4397224 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2052 to 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2482238 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365074 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 10/01/2050 to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281379 |
| &nbsp;&nbsp;&nbsp;2.459%, 04/01/2034 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814632 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8032731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6861776 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2043 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29952068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26667410 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21186766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19561504 |
| &nbsp;&nbsp;&nbsp;3.780%, (12 month LIBOR + 1.607%), 08/01/2034 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129445 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/01/2025 to 07/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23434457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22283307 |
| &nbsp;&nbsp;&nbsp;4.372%, (6 month LIBOR + 2.122%), 07/01/2033 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14084 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252420 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/01/2037 to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9089829 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3853564 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555878 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2034 to 11/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2712882 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2646834 |
| &nbsp;&nbsp;&nbsp;6.000%, 05/01/2035 to 02/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915222 |
| &nbsp;&nbsp;&nbsp;7.000%, 09/01/2031 to 06/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77398 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2029 to 08/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10679 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 02/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721898 |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115852 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45087 |
| &nbsp;&nbsp;&nbsp;6.000%, 03/15/2033 to 06/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96650 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2028 to 08/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14598 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20744 |
| &nbsp;&nbsp;&nbsp;8.000%, 10/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9214 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129165145 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $231,096,898) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $231,096,898) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212392663 |

---

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.7%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.7%** |  |
| **Argentina – 0.1%** |  |  |
| Republic of Argentina<br> 3.500%, (3.500% to 7-9-29, then 4.875% thereafter), 07/09/2041 | $&nbsp;&nbsp;&nbsp;&nbsp;596000 | $&nbsp;&nbsp;&nbsp;&nbsp;168125 |
| Republic of Argentina, GDP-Linked Note<br> 7.531%, 12/15/2035 (D)\* | 19532033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;169240 |
| **Germany – 0.2%** |  |  |
| Federal Republic of Germany<br> 6.250%, 01/04/2030 | &nbsp;&nbsp;&nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;959550 |
| **Mexico – 0.1%** |  |  |
| Government of Mexico<br> 8.000%, 12/07/2023 | 11861100 | &nbsp;&nbsp;&nbsp;&nbsp;593667 |
| **Panama – 0.1%** |  |  |
| Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;8.875%, 09/30/2027 | $&nbsp;&nbsp;&nbsp;&nbsp;344000 | &nbsp;&nbsp;&nbsp;&nbsp;395357 |
| &nbsp;&nbsp;&nbsp;9.375%, 04/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;154167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;549524 |
| **Qatar – 0.1%** |  |  |
| State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 03/14/2024 (E) | &nbsp;&nbsp;&nbsp;&nbsp;323000 | &nbsp;&nbsp;&nbsp;&nbsp;316371 |
| &nbsp;&nbsp;&nbsp;5.103%, 04/23/2048 (E) | &nbsp;&nbsp;&nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;256644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;573015 |
| **Saudi Arabia – 0.1%** |  |  |
| Kingdom of Saudi Arabia<br> 4.375%, 04/16/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;601000 | &nbsp;&nbsp;&nbsp;&nbsp;593187 |
| **United Kingdom – 0.0%** |  |  |
| Government of United Kingdom<br> 6.000%, 12/07/2028 | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;115290 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $4,249,047) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $4,249,047) | $3553473 |
| **CORPORATE BONDS – 41.5%** | **CORPORATE BONDS – 41.5%** |  |
| **Communication services – 3.9%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | $&nbsp;&nbsp;&nbsp;&nbsp;484000 | &nbsp;&nbsp;&nbsp;&nbsp;360935 |
| &nbsp;&nbsp;&nbsp;3.650%, 06/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;612000 | &nbsp;&nbsp;&nbsp;&nbsp;431039 |
| &nbsp;&nbsp;&nbsp;4.350%, 06/15/2045 | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;229230 |
| &nbsp;&nbsp;&nbsp;7.625%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;451000 | &nbsp;&nbsp;&nbsp;&nbsp;504326 |
| C&W Senior Financing DAC<br> 6.875%, 09/15/2027 (E) | &nbsp;&nbsp;&nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;231570 |
| CCO Holdings LLC<br> 4.500%, 06/01/2033 (E) | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;161118 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;311403 |
| &nbsp;&nbsp;&nbsp;3.900%, 06/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;148167 |
| &nbsp;&nbsp;&nbsp;4.200%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;581000 | &nbsp;&nbsp;&nbsp;&nbsp;534005 |
| &nbsp;&nbsp;&nbsp;4.800%, 03/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;404354 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;643000 | &nbsp;&nbsp;&nbsp;&nbsp;526418 |
| &nbsp;&nbsp;&nbsp;6.484%, 10/23/2045 | &nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;455396 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.969%, 11/01/2047 | &nbsp;&nbsp;&nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;505690 |
| &nbsp;&nbsp;&nbsp;3.999%, 11/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;&nbsp;600504 |
| Connect Finco SARL<br> 6.750%, 10/01/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;301000 | &nbsp;&nbsp;&nbsp;&nbsp;278955 |
| Deutsche Telekom International Finance BV<br> 8.750%, 06/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;758000 | &nbsp;&nbsp;&nbsp;&nbsp;893877 |
| Fox Corp.<br> 3.500%, 04/08/2030 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;354398 |
| GCI LLC<br> 4.750%, 10/15/2028 (E) | &nbsp;&nbsp;&nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;147014 |
| Globo Comunicacao e Participacoes SA<br> 4.875%, 01/22/2030 (E) | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;335003 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>1</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Level 3 Financing, Inc.<br> 3.400%, 03/01/2027 (E) | $&nbsp;&nbsp;377000 | $&nbsp;&nbsp;&nbsp;&nbsp;318560 |
| Lions Gate Capital Holdings LLC<br> 5.500%, 04/15/2029 (E) | &nbsp;&nbsp;289000 | &nbsp;&nbsp;&nbsp;&nbsp;167561 |
| Live Nation Entertainment, Inc.<br> 4.750%, 10/15/2027 (E) | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;97936 |
| Lumen Technologies, Inc.<br> 7.600%, 09/15/2039 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;682611 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 10/01/2031 (E) | &nbsp;&nbsp;&nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;&nbsp;62116 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/01/2030 (E) | &nbsp;&nbsp;234000 | &nbsp;&nbsp;&nbsp;&nbsp;191030 |
| Millicom International Cellular SA<br> 6.250%, 03/25/2029 (E) | &nbsp;&nbsp;214200 | &nbsp;&nbsp;&nbsp;&nbsp;204780 |
| MTN Mauritius Investments, Ltd.<br> 4.755%, 11/11/2024 (E) | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;136088 |
| Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;673750 |
| &nbsp;&nbsp;&nbsp;4.875%, 04/15/2028 | &nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;542660 |
| &nbsp;&nbsp;&nbsp;4.875%, 06/15/2030 (E) | &nbsp;&nbsp;277000 | &nbsp;&nbsp;&nbsp;&nbsp;258330 |
| &nbsp;&nbsp;&nbsp;5.375%, 11/15/2029 (E) | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;116400 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/15/2028 | &nbsp;&nbsp;487000 | &nbsp;&nbsp;&nbsp;&nbsp;493589 |
| News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2029 (E) | &nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;181285 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/15/2032 (E) | &nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;97370 |
| Paramount Global<br> 4.375%, 03/15/2043 | &nbsp;&nbsp;642000 | &nbsp;&nbsp;&nbsp;&nbsp;442085 |
| Radiate Holdco LLC<br> 6.500%, 09/15/2028 (E) | &nbsp;&nbsp;&nbsp;&nbsp;83000 | &nbsp;&nbsp;&nbsp;&nbsp;34778 |
| Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2028 (E) | &nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp;185374 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2027 (E) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;344787 |
| Sprint Capital Corp.<br> 6.875%, 11/15/2028 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;415176 |
| Sprint LLC<br> 7.875%, 09/15/2023 | &nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;264650 |
| Stagwell Global LLC<br> 5.625%, 08/15/2029 (E) | &nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp;314165 |
| Take-Two Interactive Software, Inc.<br> 3.550%, 04/14/2025 | &nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;179961 |
| Telefonica Emisiones SA<br> 5.213%, 03/08/2047 | &nbsp;&nbsp;477000 | &nbsp;&nbsp;&nbsp;&nbsp;383028 |
| Telesat Canada<br> 5.625%, 12/06/2026 (E) | &nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;51523 |
| Time Warner Cable Enterprises LLC<br> 8.375%, 07/15/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;333254 |
| Time Warner Cable LLC<br> 5.500%, 09/01/2041 | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;373444 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;48753 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/15/2029 | &nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;327646 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;892228 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;246641 |
| Total Play Telecomunicaciones SA<br> de CV |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 09/20/2028 (E) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;217104 |
| &nbsp;&nbsp;&nbsp;7.500%, 11/12/2025 (E) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;420838 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 05/01/2029 (E) | &nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;92825 |
| &nbsp;&nbsp;&nbsp;7.375%, 06/30/2030 (E) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;28671 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.272%, 01/15/2036 | 1311000 | 1167032 |
| &nbsp;&nbsp;&nbsp;4.329%, 09/21/2028 | &nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;670154 |
| &nbsp;&nbsp;&nbsp;4.522%, 09/15/2048 | &nbsp;&nbsp;978000 | &nbsp;&nbsp;&nbsp;&nbsp;832283 |
| &nbsp;&nbsp;&nbsp;4.672%, 03/15/2055 | &nbsp;&nbsp;397000 | &nbsp;&nbsp;&nbsp;&nbsp;341787 |
| &nbsp;&nbsp;&nbsp;5.012%, 08/21/2054 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;303649 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| Vodafone Group PLC<br> 7.000%, (7.000% to 1-4-29, then 5 Year U.S. Swap Rate + 4.873%), 04/04/2079 | $&nbsp;&nbsp;277000 | $&nbsp;&nbsp;&nbsp;&nbsp;278504 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 (E) | &nbsp;&nbsp;143000 | &nbsp;&nbsp;&nbsp;&nbsp;109407 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 (E) | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;374388 |
| WMG Acquisition Corp.<br> 3.875%, 07/15/2030 (E) | &nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;247207 |
|  |  | 21558810 |
| **Consumer discretionary – 4.3%** |  |  |
| Affinity Gaming<br> 6.875%, 12/15/2027 (E) | &nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;134806 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/15/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42132 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/01/2030 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;146362 |
| AutoNation, Inc.<br> 4.750%, 06/01/2030 | &nbsp;&nbsp;666000 | &nbsp;&nbsp;&nbsp;&nbsp;594202 |
| AutoZone, Inc.<br> 3.125%, 04/21/2026 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;505289 |
| Booking Holdings, Inc.<br> 4.625%, 04/13/2030 | &nbsp;&nbsp;406000 | &nbsp;&nbsp;&nbsp;&nbsp;392106 |
| Brinker International, Inc.<br> 3.875%, 05/15/2023 | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;732913 |
| Brookfield Residential Properties, Inc.<br> 5.000%, 06/15/2029 (E) | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;120331 |
| CCM Merger, Inc.<br> 6.375%, 05/01/2026 (E) | &nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;130982 |
| Century Communities, Inc.<br> 3.875%, 08/15/2029 (E) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;209143 |
| Choice Hotels International, Inc.<br> 3.700%, 12/01/2029 to 01/15/2031 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;382702 |
| Dealer Tire LLC<br> 8.000%, 02/01/2028 (E) | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;107345 |
| Dollar Tree, Inc.<br> 4.200%, 05/15/2028 | &nbsp;&nbsp;616000 | &nbsp;&nbsp;&nbsp;&nbsp;589179 |
| eBay, Inc.<br> 2.700%, 03/11/2030 | &nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;372917 |
| Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/15/2031 | &nbsp;&nbsp;293000 | &nbsp;&nbsp;&nbsp;&nbsp;235610 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2027 | &nbsp;&nbsp;409000 | &nbsp;&nbsp;&nbsp;&nbsp;392375 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/15/2026 | 1090000 | &nbsp;&nbsp;&nbsp;1075610 |
| Ford Motor Company<br> 3.250%, 02/12/2032 | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;132740 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;184689 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/17/2027 | &nbsp;&nbsp;346000 | &nbsp;&nbsp;&nbsp;&nbsp;309670 |
| &nbsp;&nbsp;&nbsp;4.134%, 08/04/2025 | &nbsp;&nbsp;909000 | &nbsp;&nbsp;&nbsp;&nbsp;850815 |
| &nbsp;&nbsp;&nbsp;5.113%, 05/03/2029 | &nbsp;&nbsp;532000 | &nbsp;&nbsp;&nbsp;&nbsp;481750 |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (E) | &nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp;118632 |
| GEMS MENASA Cayman, Ltd.<br> 7.125%, 07/31/2026 (E) | &nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;212338 |
| General Motors Company<br> 5.400%, 10/15/2029 to 04/01/2048 | &nbsp;&nbsp;507000 | &nbsp;&nbsp;&nbsp;&nbsp;464652 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 10/15/2028 | &nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;667511 |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | &nbsp;&nbsp;786000 | &nbsp;&nbsp;&nbsp;&nbsp;661468 |
| Group 1 Automotive, Inc.<br> 4.000%, 08/15/2028 (E) | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;118500 |
| Hilton Grand Vacations Borrower<br> Escrow LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 07/01/2031 (E) | &nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;152621 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/01/2029 (E) | &nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;204680 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>2</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Hyatt Hotels Corp.<br> 6.000%, 04/23/2030 | $&nbsp;&nbsp;176000 | $172168 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 09/17/2024 (E) | &nbsp;&nbsp;409000 | 377878 |
| &nbsp;&nbsp;&nbsp;1.800%, 10/15/2025 (E) | &nbsp;&nbsp;201000 | 180783 |
| &nbsp;&nbsp;&nbsp;2.375%, 10/15/2027 (E) | &nbsp;&nbsp;201000 | 171962 |
| Jacobs Entertainment, Inc.<br> 6.750%, 02/15/2029 (E) | &nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;93874 |
| KB Home |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/15/2031 | &nbsp;&nbsp;215000 | 172828 |
| &nbsp;&nbsp;&nbsp;7.250%, 07/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;54415 |
| Ken Garff Automotive LLC<br> 4.875%, 09/15/2028 (E) | &nbsp;&nbsp;169000 | 141373 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 06/01/2029 (E) | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;83033 |
| &nbsp;&nbsp;&nbsp;4.375%, 01/15/2031 (E) | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;82174 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2027 (E) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;45097 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 04/01/2029 to 03/15/2030 (E) | &nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;78483 |
| &nbsp;&nbsp;&nbsp;6.125%, 03/15/2032 (E) | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;28578 |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, 04/15/2031 | &nbsp;&nbsp;500000 | 404891 |
| &nbsp;&nbsp;&nbsp;3.125%, 06/15/2026 | 1000000 | 936133 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/15/2030 | &nbsp;&nbsp;308000 | 287399 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 07/01/2030 | &nbsp;&nbsp;500000 | 458578 |
| &nbsp;&nbsp;&nbsp;4.200%, 04/01/2050 | &nbsp;&nbsp;500000 | 415995 |
| MDC Holdings, Inc.<br> 2.500%, 01/15/2031 | &nbsp;&nbsp;155000 | 111783 |
| Mercedes-Benz Finance North America LLC<br> 3.500%, 08/03/2025 (E) | &nbsp;&nbsp;160000 | 153974 |
| MGM Resorts International<br> 4.750%, 10/15/2028 | &nbsp;&nbsp;387000 | 337795 |
| Midwest Gaming Borrower LLC<br> 4.875%, 05/01/2029 (E) | &nbsp;&nbsp;243000 | 206760 |
| Mohegan Gaming & Entertainment<br> 8.000%, 02/01/2026 (E) | &nbsp;&nbsp;209000 | 195476 |
| NCL Corp., Ltd.<br> 3.625%, 12/15/2024 (E) | &nbsp;&nbsp;700000 | 598051 |
| New Red Finance, Inc.<br> 4.000%, 10/15/2030 (E) | &nbsp;&nbsp;553000 | 447825 |
| NIKE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 03/27/2027 | &nbsp;&nbsp;500000 | 466990 |
| &nbsp;&nbsp;&nbsp;2.850%, 03/27/2030 | &nbsp;&nbsp;500000 | 446823 |
| Nissan Motor Acceptance Company LLC<br> 1.125%, 09/16/2024 (E) | &nbsp;&nbsp;205000 | 186797 |
| Nissan Motor Company, Ltd.<br> 3.522%, 09/17/2025 (E) | &nbsp;&nbsp;299000 | 277741 |
| Premier Entertainment Sub LLC<br> 5.625%, 09/01/2029 (E) | &nbsp;&nbsp;139000 | 102499 |
| Resorts World Las Vegas LLC<br> 4.625%, 04/16/2029 (E) | &nbsp;&nbsp;300000 | 212769 |
| Service Corp. International<br> 4.000%, 05/15/2031 | &nbsp;&nbsp;259000 | 218136 |
| Target Corp.<br> 2.250%, 04/15/2025 | &nbsp;&nbsp;500000 | 474336 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 04/15/2027 | &nbsp;&nbsp;500000 | 460089 |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2030 | &nbsp;&nbsp;500000 | 435974 |
| The Michaels Companies, Inc.<br> 7.875%, 05/01/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;13363 |
| The TJX Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;400000 | 374205 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;400000 | 355673 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Toll Brothers Finance Corp.<br> 4.875%, 03/15/2027 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;477417 |
| Travel + Leisure Company |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 03/01/2030 (E) | &nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83756 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/01/2027 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;664363 |
| &nbsp;&nbsp;&nbsp;6.600%, 10/01/2025 | &nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;144435 |
| Wyndham Hotels & Resorts, Inc.<br> 4.375%, 08/15/2028 (E) | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;119328 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/2031 | &nbsp;&nbsp;252000 | &nbsp;&nbsp;&nbsp;&nbsp;211302 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (E) | &nbsp;&nbsp;131000 | &nbsp;&nbsp;&nbsp;&nbsp;120193 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/01/2043 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;493500 |
| &nbsp;&nbsp;&nbsp;6.875%, 11/15/2037 | &nbsp;&nbsp;292000 | &nbsp;&nbsp;&nbsp;&nbsp;296132 |
|  |  | 23597197 |
| **Consumer staples – 1.8%** |  |  |
| Advantage Sales & Marketing, Inc.<br> 6.500%, 11/15/2028 (E) | &nbsp;&nbsp;296000 | &nbsp;&nbsp;&nbsp;&nbsp;225656 |
| Anheuser-Busch Companies LLC<br> 4.900%, 02/01/2046 | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;137270 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.439%, 10/06/2048 | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;623440 |
| &nbsp;&nbsp;&nbsp;4.600%, 04/15/2048 | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;233748 |
| Bunge, Ltd. Finance Corp.<br> 3.250%, 08/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;465761 |
| Coruripe Netherlands BV<br> 10.000%, 02/10/2027 (E) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;208000 |
| Edgewell Personal Care Company |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/01/2029 (E) | &nbsp;&nbsp;104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88658 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2028 (E) | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;171147 |
| Fomento Economico Mexicano SAB de CV<br> 4.375%, 05/10/2043 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;824789 |
| General Mills, Inc.<br> 2.875%, 04/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;345571 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 (E) | &nbsp;&nbsp;271000 | &nbsp;&nbsp;&nbsp;&nbsp;219510 |
| &nbsp;&nbsp;&nbsp;3.750%, 12/01/2031 (E) | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70253 |
| &nbsp;&nbsp;&nbsp;5.125%, 02/01/2028 (E) | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;146843 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 (E) | &nbsp;&nbsp;424000 | &nbsp;&nbsp;&nbsp;&nbsp;404403 |
| Keurig Dr. Pepper, Inc.<br> 3.200%, 05/01/2030 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;488009 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | &nbsp;&nbsp;638000 | &nbsp;&nbsp;&nbsp;&nbsp;518441 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/04/2042 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;158292 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2050 | &nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;151956 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (E) | &nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;236416 |
| NBM US Holdings, Inc.<br> 6.625%, 08/06/2029 (E) | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;264624 |
| Oriflame Investment Holding PLC<br> 5.125%, 05/04/2026 (E) | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;165780 |
| PepsiCo, Inc.<br> 2.750%, 03/19/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;442722 |
| Post Holdings, Inc.<br> 5.500%, 12/15/2029 (E) | &nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;219894 |
| Reynolds American, Inc.<br> 4.850%, 09/15/2023 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;997811 |
| Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, 04/01/2030 | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;367409 |
| &nbsp;&nbsp;&nbsp;6.600%, 04/01/2050 | 1000000 | &nbsp;&nbsp;&nbsp;1089902 |
| The Estee Lauder Companies, Inc.<br> 2.600%, 04/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;343757 |
|  |  | &nbsp;&nbsp;&nbsp;9610062 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>3</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy – 4.6%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 01/15/2025 (E) | $&nbsp;&nbsp;165000 | $&nbsp;&nbsp;&nbsp;&nbsp;156452 |
| &nbsp;&nbsp;&nbsp;3.100%, 07/15/2031 (E) | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;227994 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (E) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;175939 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (E) | &nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;458356 |
| Altera Infrastructure LP<br> 8.500%, 07/15/2023 (E)(F) | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5675 |
| Anadarko Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 07/15/2044 (G) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;270181 |
| &nbsp;&nbsp;&nbsp;5.550%, 03/15/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;769000 |
| Antero Midstream Partners LP<br> 5.375%, 06/15/2029 (E) | &nbsp;&nbsp;233000 | &nbsp;&nbsp;&nbsp;&nbsp;213018 |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (E) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;83440 |
| Apache Corp.<br> 5.100%, 09/01/2040 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;269332 |
| Ascent Resources Utica Holdings LLC<br> 5.875%, 06/30/2029 (E) | &nbsp;&nbsp;296000 | &nbsp;&nbsp;&nbsp;&nbsp;263922 |
| Buckeye Partners LP<br> 3.950%, 12/01/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;447350 |
| Cameron International Corp.<br> 5.950%, 06/01/2041 | 1178000 | 1055982 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2031 | &nbsp;&nbsp;399000 | &nbsp;&nbsp;&nbsp;&nbsp;339693 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/01/2029 | &nbsp;&nbsp;461000 | &nbsp;&nbsp;&nbsp;&nbsp;414541 |
| CNOOC Finance 2003, Ltd.<br> 5.500%, 05/21/2033 (E) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;529402 |
| CNX Resources Corp.<br> 7.375%, 01/15/2031 (E) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;52717 |
| ConocoPhillips Company<br> 5.950%, 03/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;32009 |
| Continental Resources, Inc.<br> 4.900%, 06/01/2044 | &nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;441102 |
| CSI Compressco LP |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 04/01/2025 (E) | &nbsp;&nbsp;386000 | &nbsp;&nbsp;&nbsp;&nbsp;360910 |
| &nbsp;&nbsp;&nbsp;10.000%, (10.000% Cash or 7.250% Cash and 3.500% PIK), 04/01/2026 (E) | &nbsp;&nbsp;239806 | &nbsp;&nbsp;&nbsp;&nbsp;196641 |
| DCP Midstream Operating LP<br> 5.850%, (5.850% to 5-21-23, then 3 month LIBOR + 3.850%), 05/21/2043 (E) | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;196080 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2045 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;518051 |
| &nbsp;&nbsp;&nbsp;7.875%, 09/30/2031 | &nbsp;&nbsp;874000 | &nbsp;&nbsp;&nbsp;&nbsp;986252 |
| Diamondback Energy, Inc.<br> 3.125%, 03/24/2031 | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;212812 |
| Enbridge Energy Partners LP<br> 7.500%, 04/15/2038 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;658849 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, (5.500% to 7-15-27, then 3 month LIBOR + 3.418%), 07/15/2077 | &nbsp;&nbsp;347000 | &nbsp;&nbsp;&nbsp;&nbsp;306790 |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 4-15-30, then 5 Year CMT + 5.314%), 07/15/2080 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;280308 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month LIBOR + 3.641%), 03/01/2078 | &nbsp;&nbsp;279000 | &nbsp;&nbsp;&nbsp;&nbsp;253828 |
| Energean Israel Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 03/30/2028 (E) | &nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;88481 |
| &nbsp;&nbsp;&nbsp;5.875%, 03/30/2031 (E) | &nbsp;&nbsp;172000 | &nbsp;&nbsp;&nbsp;&nbsp;149855 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 04/15/2027 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;215165 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2045 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;281412 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/15/2029 | &nbsp;&nbsp;661000 | &nbsp;&nbsp;&nbsp;&nbsp;639158 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Energy Transfer LP (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 10/01/2047 | $244000 | $206682 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2027 | 347000 | 344536 |
| &nbsp;&nbsp;&nbsp;5.950%, 10/01/2043 | 300000 | 275632 |
| &nbsp;&nbsp;&nbsp;6.500%, (6.500% to 11-15-26, then 5 Year CMT + 5.694%), 11/15/2026 (H) | 474000 | 407640 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, (5.250% to 8-16-27, then 3 month LIBOR + 3.033%), 08/16/2077 | 526000 | 423077 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/01/2033 | 471000 | 514550 |
| EQM Midstream Partners LP<br> 7.500%, 06/01/2027 to 06/01/2030 (E) | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;59388 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.678%, 10/01/2025 | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;72645 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/01/2030 | 283000 | 293505 |
| Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.600%, 02/15/2041 | 400000 | 378108 |
| &nbsp;&nbsp;&nbsp;5.800%, 04/01/2047 | 500000 | 477332 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2030 (E) | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;66684 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/15/2030 (E) | &nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;28361 |
| Kinder Morgan Energy Partners LP<br> 7.750%, 03/15/2032 | 195000 | 215912 |
| Leviathan Bond, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 06/30/2027 (E) | 426000 | 411449 |
| &nbsp;&nbsp;&nbsp;6.750%, 06/30/2030 (E) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;80137 |
| Marathon Oil Corp.<br> 6.800%, 03/15/2032 | 785000 | 807590 |
| MC Brazil Downstream Trading SARL<br> 7.250%, 06/30/2031 (E) | 276000 | 227590 |
| Midwest Connector Capital Company LLC<br> 3.900%, 04/01/2024 (E) | 323000 | 312741 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 03/15/2028 | 261000 | 242759 |
| &nbsp;&nbsp;&nbsp;4.125%, 03/01/2027 | 103000 | &nbsp;&nbsp;&nbsp;97285 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/01/2027 | 225000 | 212607 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | 179000 | 167846 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 2-15-23, then 3 month LIBOR + 4.652%), 02/15/2023 (H) | 687000 | 676695 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | 184000 | 187680 |
| &nbsp;&nbsp;&nbsp;6.600%, 03/15/2046 | 151000 | 155377 |
| ONEOK Partners LP<br> 6.650%, 10/01/2036 | 835000 | 835614 |
| ONEOK, Inc.<br> 6.100%, 11/15/2032 | 500000 | 499975 |
| Ovintiv, Inc.<br> 7.200%, 11/01/2031 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;57728 |
| Parkland Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 10/01/2029 (E) | 176000 | 146655 |
| &nbsp;&nbsp;&nbsp;4.625%, 05/01/2030 (E) | 172000 | 142330 |
| Petroleos Mexicanos<br> 8.750%, 06/02/2029 | 150000 | 140654 |
| Plains All American Pipeline LP<br> 4.900%, 02/15/2045 | 750000 | 580998 |
| Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 03/15/2028 | 195000 | 183294 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2030 | 415000 | 384670 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/15/2027 | 186000 | 182377 |
| &nbsp;&nbsp;&nbsp;5.875%, 06/30/2026 | 234000 | 236771 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>4</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Sinopec Group Overseas Development 2015, Ltd.<br> 3.250%, 04/28/2025 (E) | $&nbsp;&nbsp;550000 | $&nbsp;&nbsp;&nbsp;&nbsp;531769 |
| Southwestern Energy Company<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;129000 | &nbsp;&nbsp;&nbsp;&nbsp;110242 |
| Sunoco LP<br> 4.500%, 05/15/2029 to 04/30/2030 | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;302720 |
| Targa Resources Corp.<br> 4.950%, 04/15/2052 | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;322771 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;282707 |
| The Williams Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 06/15/2027 | &nbsp;&nbsp;306000 | &nbsp;&nbsp;&nbsp;&nbsp;288023 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2032 | &nbsp;&nbsp;251000 | &nbsp;&nbsp;&nbsp;&nbsp;233657 |
| TransCanada PipeLines, Ltd.<br> 4.250%, 05/15/2028 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;208254 |
| Valero Energy Corp.<br> 2.850%, 04/15/2025 (G) | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;378548 |
| Var Energi ASA<br> 8.000%, 11/15/2032 (E) | &nbsp;&nbsp;256000 | &nbsp;&nbsp;&nbsp;&nbsp;264376 |
| Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 08/15/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83125 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2031 (E) | &nbsp;&nbsp;158000 | &nbsp;&nbsp;&nbsp;&nbsp;134615 |
|  |  | 25426378 |
| **Financials – 9.8%** |  |  |
| Ally Financial, Inc.<br> 7.100%, 11/15/2027 | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;205507 |
| Ambac Assurance Corp.<br> 5.100%, 01/20/2023 (E)(H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 |
| American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, 04/01/2026 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;401993 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-15-37, then 3 month LIBOR + 2.056%), 03/15/2037 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88470 |
| Ameriprise Financial, Inc.<br> 2.875%, 09/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;464367 |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.150%, 07/15/2026 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;319195 |
| &nbsp;&nbsp;&nbsp;2.875%, 06/15/2028 | &nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;247765 |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2026 | &nbsp;&nbsp;787000 | &nbsp;&nbsp;&nbsp;&nbsp;721247 |
| &nbsp;&nbsp;&nbsp;4.200%, 06/10/2024 | &nbsp;&nbsp;279000 | &nbsp;&nbsp;&nbsp;&nbsp;269336 |
| Athene Holding, Ltd.<br> 3.500%, 01/15/2031 | &nbsp;&nbsp;206000 | &nbsp;&nbsp;&nbsp;&nbsp;169146 |
| Banco Santander SA<br> 4.379%, 04/12/2028 | &nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp;233637 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.087%, (2.087% to 6-14-28, then SOFR + 1.060%), 06/14/2029 | &nbsp;&nbsp;472000 | &nbsp;&nbsp;&nbsp;&nbsp;397185 |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then SOFR + 2.150%), 04/29/2031 | &nbsp;&nbsp;498000 | &nbsp;&nbsp;&nbsp;&nbsp;405589 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | &nbsp;&nbsp;881000 | &nbsp;&nbsp;&nbsp;&nbsp;705138 |
| &nbsp;&nbsp;&nbsp;2.884%, (2.884% to 10-22-29, then 3 month LIBOR + 1.190%), 10/22/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;418288 |
| &nbsp;&nbsp;&nbsp;3.248%, 10/21/2027 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;346245 |
| &nbsp;&nbsp;&nbsp;3.419%, (3.419% to 12-20-27, then 3 month LIBOR + 1.040%), 12/20/2028 | 1087000 | &nbsp;&nbsp;&nbsp;&nbsp;984310 |
| &nbsp;&nbsp;&nbsp;3.846%, (3.846% to 3-8-32, then 5 Year CMT + 2.000%), 03/08/2037 | &nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;342817 |
| &nbsp;&nbsp;&nbsp;4.083%, (4.083% to 3-20-50, then 3 month LIBOR + 3.150%), 03/20/2051 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;391280 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Bank of America Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.300%, (6.300% to 3-10-26, then 3 month LIBOR + 4.553%), 03/10/2026 (H) | $&nbsp;&nbsp;667000 | $&nbsp;&nbsp;&nbsp;&nbsp;662047 |
| Barclays PLC<br> 4.375%, (4.375% to 3-15-28, then 5 Year CMT + 3.410%), 03/15/2028 (H) | &nbsp;&nbsp;391000 | &nbsp;&nbsp;&nbsp;&nbsp;298138 |
| BlackRock, Inc.<br> 1.900%, 01/28/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;404655 |
| Blackstone Holdings Finance Company LLC<br> 6.200%, 04/22/2033 (E) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;302402 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 11/22/2024 | &nbsp;&nbsp;351000 | &nbsp;&nbsp;&nbsp;&nbsp;321249 |
| &nbsp;&nbsp;&nbsp;2.700%, 01/15/2025 | &nbsp;&nbsp;277000 | &nbsp;&nbsp;&nbsp;&nbsp;255917 |
| &nbsp;&nbsp;&nbsp;3.250%, 03/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;79000 | &nbsp;&nbsp;&nbsp;&nbsp;66515 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2029 | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;320935 |
| &nbsp;&nbsp;&nbsp;7.050%, 09/29/2025 (E) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;297622 |
| BPCE SA<br> 4.500%, 03/15/2025 (E) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;240129 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/15/2023 | 1023000 | 1016802 |
| &nbsp;&nbsp;&nbsp;3.750%, 07/28/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;470756 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then SOFR + 1.167%), 05/01/2032 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;208419 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/15/2023 | 1060000 | 1054882 |
| &nbsp;&nbsp;&nbsp;4.412%, (4.412% to 3-31-30, then SOFR + 3.914%), 03/31/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;918297 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/09/2026 | &nbsp;&nbsp;677000 | &nbsp;&nbsp;&nbsp;&nbsp;664963 |
| &nbsp;&nbsp;&nbsp;4.700%, (4.700% to 1-30-25, then SOFR + 3.234%), 01/30/2025 (H) | &nbsp;&nbsp;511000 | &nbsp;&nbsp;&nbsp;&nbsp;424744 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 8-15-26, then 3 month LIBOR + 4.517%), 08/15/2026 (H) | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;402550 |
| Citizens Financial Group, Inc.<br> 3.250%, 04/30/2030 | &nbsp;&nbsp;573000 | &nbsp;&nbsp;&nbsp;&nbsp;497407 |
| CNA Financial Corp.<br> 2.050%, 08/15/2030 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;82675 |
| CNO Financial Group, Inc.<br> 5.250%, 05/30/2025 to 05/30/2029 | &nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;612604 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;2.811%, 01/11/2041 (E) | &nbsp;&nbsp;279000 | &nbsp;&nbsp;&nbsp;&nbsp;172331 |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (E) | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;357981 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/17/2025 (E) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;578361 |
| &nbsp;&nbsp;&nbsp;7.875%, (7.875% to 1-23-24, then 5 Year U.S. Swap Rate + 4.898%), 01/23/2024 (E)(H) | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;213022 |
| Credit Suisse Group AG<br> 4.550%, 04/17/2026 | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;357199 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;2.311%, (2.311% to 11-16-26, then SOFR + 1.219%), 11/16/2027 | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;277258 |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 10-7-31, then SOFR + 2.257%), 01/07/2033 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;305376 |
| Discover Financial Services<br> 4.100%, 02/09/2027 | &nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp;157146 |
| Enova International, Inc.<br> 8.500%, 09/01/2024 to 09/15/2025 (E) | &nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;290639 |
| Fairfax Financial Holdings, Ltd.<br> 5.625%, 08/16/2032 (E) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;750890 |
| Fifth Third Bancorp<br> 5.100%, (5.100% to 6-30-23, then 3 month LIBOR + 3.033%), 06/30/2023 (H) | &nbsp;&nbsp;287000 | &nbsp;&nbsp;&nbsp;&nbsp;272650 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>5</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Freedom Mortgage Corp.<br> 8.125%, 11/15/2024 (E) | $&nbsp;&nbsp;167000 | $&nbsp;&nbsp;&nbsp;&nbsp;153640 |
| Global Atlantic Fin Company<br> 3.125%, 06/15/2031 (E) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;733703 |
| ING Groep NV<br> 6.500%, (6.500% to 4-16-25, then 5 Year U.S. Swap Rate + 4.446%), 04/16/2025 (H) | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;127641 |
| Intesa Sanpaolo SpA<br> 4.198%, (4.198% to 6-1-31, then 1 Year CMT + 2.600%), 06/01/2032 (E) | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;147676 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then SOFR + 2.040%), 04/22/2031 | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;393596 |
| &nbsp;&nbsp;&nbsp;2.956%, (2.956% to 5-13-30, then SOFR + 2.515%), 05/13/2031 | &nbsp;&nbsp;439000 | &nbsp;&nbsp;&nbsp;&nbsp;361717 |
| &nbsp;&nbsp;&nbsp;3.375%, 05/01/2023 | 1250000 | 1244123 |
| &nbsp;&nbsp;&nbsp;4.125%, 12/15/2026 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;579742 |
| &nbsp;&nbsp;&nbsp;4.600%, (4.600% to 2-1-25, then SOFR + 3.125%), 02/01/2025 (H) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;328706 |
| &nbsp;&nbsp;&nbsp;5.717%, (5.717% to 9-14-32, then SOFR + 2.580%), 09/14/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;976053 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 2-1-24, then 3 month LIBOR + 3.780%), 02/01/2024 (H) | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;473167 |
| KKR Group Finance Company XII LLC<br> 4.850%, 05/17/2032 (E) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;466819 |
| Lazard Group LLC<br> 4.375%, 03/11/2029 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;203138 |
| Legg Mason, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 07/15/2024 | &nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;646247 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/15/2026 | &nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;826569 |
| Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 05/15/2060 (E) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;327467 |
| &nbsp;&nbsp;&nbsp;4.125%, (4.125% to 9-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (E) | &nbsp;&nbsp;263000 | &nbsp;&nbsp;&nbsp;&nbsp;214240 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/15/2023 (E) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;992890 |
| Lloyds Banking Group PLC<br> 7.500%, (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%), 06/27/2024 (H) | &nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;334374 |
| Loews Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 05/15/2023 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;624446 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2026 | &nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;796365 |
| M&T Bank Corp.<br> 5.125%, (5.125% to 11-1-26, then 3 month LIBOR + 3.520%), 11/01/2026 (H) | &nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;159853 |
| Macquarie Bank, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.624%, 06/03/2030 (E) | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;164894 |
| &nbsp;&nbsp;&nbsp;4.875%, 06/10/2025 (E) | &nbsp;&nbsp;262000 | &nbsp;&nbsp;&nbsp;&nbsp;256265 |
| Markel Corp.<br> 5.000%, 03/30/2043 | 1270000 | 1081532 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2025 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;288046 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 12-15-36, then 3 month LIBOR + 2.205%), 12/15/2036 | &nbsp;&nbsp;347000 | &nbsp;&nbsp;&nbsp;&nbsp;335584 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;154973 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then SOFR + 1.360%), 09/16/2036 | 1659000 | 1202993 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Morgan Stanley (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.622%, (3.622% to 4-1-30, then SOFR + 3.120%), 04/01/2031 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;873004 |
| &nbsp;&nbsp;&nbsp;4.100%, 05/22/2023 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;896710 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/15/2033 (E) | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;145185 |
| &nbsp;&nbsp;&nbsp;3.625%, 11/01/2031 (E) | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;167877 |
| Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 12/15/2030 (E) | &nbsp;&nbsp;176000 | &nbsp;&nbsp;&nbsp;&nbsp;135931 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/15/2028 (E) | &nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;155744 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/15/2027 (E) | &nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;88605 |
| Nationwide Mutual Insurance Company<br> 7.059%, (3 month LIBOR + 2.290%), 12/15/2024 (C)(E) | 1130000 | 1127025 |
| NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 09/12/2023 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;494831 |
| &nbsp;&nbsp;&nbsp;6.000%, (6.000% to 12-29-25, then 5 Year CMT + 5.625%), 12/29/2025 (H) | &nbsp;&nbsp;431000 | &nbsp;&nbsp;&nbsp;&nbsp;398006 |
| NatWest Markets PLC<br> 1.600%, 09/29/2026 (E) | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;428938 |
| New York Life Insurance Company<br> 3.750%, 05/15/2050 (E) | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;151403 |
| Nippon Life Insurance Company |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, (2.750% to 1-21-31, then 5 Year CMT + 2.653%), 01/21/2051 (E) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;385199 |
| &nbsp;&nbsp;&nbsp;5.100%, (5.100% to 10-16-24, then 5 Year U.S. Swap Rate + 3.650%), 10/16/2044 (E) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;244266 |
| OneMain Finance Corp.<br> 6.875%, 03/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;87421 |
| Prudential Financial, Inc.<br> 5.125%, (5.125% to 11-28-31, then 5 Year CMT + 3.162%), 03/01/2052 | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;184730 |
| Radian Group, Inc.<br> 4.500%, 10/01/2024 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;154330 |
| Raymond James Financial, Inc.<br> 4.950%, 07/15/2046 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;444512 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.490%, (2.490% to 1-6-27, then SOFR + 1.249%), 01/06/2028 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;291714 |
| &nbsp;&nbsp;&nbsp;3.244%, 10/05/2026 | &nbsp;&nbsp;791000 | &nbsp;&nbsp;&nbsp;&nbsp;734100 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/02/2025 | &nbsp;&nbsp;619000 | &nbsp;&nbsp;&nbsp;&nbsp;589839 |
| &nbsp;&nbsp;&nbsp;4.400%, 07/13/2027 | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;193595 |
| SBL Holdings, Inc.<br> 5.000%, 02/18/2031 (E) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;283111 |
| Societe Generale SA<br> 5.375%, (5.375% to 11-18-30, then 5 Year CMT + 4.514%), 11/18/2030 (E)(H) | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;287599 |
| State Street Corp.<br> 2.901%, (2.901% to 3-30-25, then SOFR + 2.600%), 03/30/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;951044 |
| Stifel Financial Corp.<br> 4.250%, 07/18/2024 | 1300000 | 1273669 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (E) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;347508 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then SOFR + 1.281%), 04/22/2032 | 1054000 | &nbsp;&nbsp;&nbsp;&nbsp;840555 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;407000 | &nbsp;&nbsp;&nbsp;&nbsp;321355 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;480821 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>6</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Goldman Sachs<br> Group, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/22/2023 | $1200000 | $&nbsp;&nbsp;&nbsp;1198992 |
| The Hartford Financial Services Group, Inc.<br> 6.625%, 03/30/2040 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;520570 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, (3.400% to 9-15-26, then 5 Year CMT + 2.595%), 09/15/2026 (H) | &nbsp;&nbsp;497000 | &nbsp;&nbsp;&nbsp;&nbsp;393873 |
| &nbsp;&nbsp;&nbsp;4.850%, (4.850% to 6-1-23, then 3 month LIBOR + 3.040%), 06/01/2023 (H) | &nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;229028 |
| &nbsp;&nbsp;&nbsp;8.118%, (3 month LIBOR + 3.678%), 02/01/2023 (C)(H) | &nbsp;&nbsp;373000 | &nbsp;&nbsp;&nbsp;&nbsp;372067 |
| Voya Financial, Inc.<br> 4.800%, 06/15/2046 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;556887 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.393%, (2.393% to 6-2-27, then SOFR + 2.100%), 06/02/2028 | &nbsp;&nbsp;746000 | &nbsp;&nbsp;&nbsp;&nbsp;658411 |
| &nbsp;&nbsp;&nbsp;2.879%, (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%), 10/30/2030 | &nbsp;&nbsp;656000 | &nbsp;&nbsp;&nbsp;&nbsp;557209 |
| &nbsp;&nbsp;&nbsp;3.068%, (3.068% to 4-30-40, then SOFR + 2.530%), 04/30/2041 | &nbsp;&nbsp;311000 | &nbsp;&nbsp;&nbsp;&nbsp;221833 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then SOFR + 1.500%), 03/02/2033 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;252719 |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 6-15-25, then 3 month LIBOR + 3.990%), 06/15/2025 (H) | &nbsp;&nbsp;878000 | &nbsp;&nbsp;&nbsp;&nbsp;847270 |
|  |  | 53932205 |
| **Health care – 2.5%** |  |  |
| Abbott Laboratories<br> 3.750%, 11/30/2026 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;661999 |
| AbbVie, Inc.<br> 3.200%, 11/21/2029 | 1700000 | &nbsp;&nbsp;&nbsp;1532506 |
| AdaptHealth LLC<br> 5.125%, 03/01/2030 (E) | &nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;143017 |
| AmerisourceBergen Corp.<br> 2.800%, 05/15/2030 | &nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;262090 |
| Baxter International, Inc.<br> 3.500%, 08/15/2046 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;354810 |
| Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 05/01/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;325876 |
| &nbsp;&nbsp;&nbsp;3.150%, 05/01/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;325020 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | &nbsp;&nbsp;286000 | &nbsp;&nbsp;&nbsp;&nbsp;234448 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;183000 | &nbsp;&nbsp;&nbsp;&nbsp;154703 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/15/2027 | &nbsp;&nbsp;127000 | &nbsp;&nbsp;&nbsp;&nbsp;119109 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;181842 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;294395 |
| CVS Pass-Through Trust<br> 8.353%, 07/10/2031 (E) | &nbsp;&nbsp;796887 | &nbsp;&nbsp;&nbsp;&nbsp;871097 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/15/2031 (E) | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;282120 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2030 (E) | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;295225 |
| Elevance Health, Inc.<br> 6.100%, 10/15/2052 | &nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp;178034 |
| Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2028 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90840 |
| &nbsp;&nbsp;&nbsp;4.625%, 04/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79935 |
| Fresenius Medical Care US Finance III, Inc.<br> 2.375%, 02/16/2031 (E) | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;381360 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 06/15/2029 | $&nbsp;&nbsp;318000 | $&nbsp;&nbsp;&nbsp;&nbsp;290299 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/15/2025 to 06/15/2026 | &nbsp;&nbsp;491000 | &nbsp;&nbsp;&nbsp;&nbsp;486791 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/01/2025 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;799031 |
| Humana, Inc.<br> 3.125%, 08/15/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;438274 |
| Organon & Company<br> 5.125%, 04/30/2031 (E) | &nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;271886 |
| Pfizer, Inc.<br> 2.625%, 04/01/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;439211 |
| Royalty Pharma PLC<br> 1.750%, 09/02/2027 | &nbsp;&nbsp;186000 | &nbsp;&nbsp;&nbsp;&nbsp;157429 |
| Shire Acquisitions Investments Ireland DAC<br> 3.200%, 09/23/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;468932 |
| Stanford Health Care<br> 3.310%, 08/15/2030 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;201058 |
| Teva Pharmaceutical Finance Company LLC<br> 6.150%, 02/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43074 |
| UnitedHealth Group, Inc.<br> 5.800%, 03/15/2036 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;569583 |
| Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 09/01/2026 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;287082 |
| &nbsp;&nbsp;&nbsp;2.650%, 10/15/2030 | &nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp;284923 |
| Utah Acquisition Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 06/15/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;747892 |
| &nbsp;&nbsp;&nbsp;5.250%, 06/15/2046 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;189030 |
| Varex Imaging Corp.<br> 7.875%, 10/15/2027 (E) | &nbsp;&nbsp;149000 | &nbsp;&nbsp;&nbsp;&nbsp;147982 |
| Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/22/2027 | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;102534 |
| &nbsp;&nbsp;&nbsp;2.700%, 06/22/2030 | &nbsp;&nbsp;268000 | &nbsp;&nbsp;&nbsp;&nbsp;209532 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/22/2050 | &nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;189770 |
| Zimmer Biomet Holdings, Inc.<br> 3.050%, 01/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;471438 |
|  |  | 13564177 |
| **Industrials – 5.3%** |  |  |
| 3M Company<br> 3.050%, 04/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;438965 |
| Adani Ports & Special Economic Zone, Ltd.<br> 3.100%, 02/02/2031 (E) | &nbsp;&nbsp;313000 | &nbsp;&nbsp;&nbsp;&nbsp;229466 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 10/29/2024 | &nbsp;&nbsp;174000 | &nbsp;&nbsp;&nbsp;&nbsp;160498 |
| &nbsp;&nbsp;&nbsp;1.750%, 01/30/2026 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;307924 |
| &nbsp;&nbsp;&nbsp;2.450%, 10/29/2026 | 1005000 | &nbsp;&nbsp;&nbsp;&nbsp;878814 |
| &nbsp;&nbsp;&nbsp;2.875%, 08/14/2024 | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;310545 |
| Air Canada 2013-1 Class A Pass Through Trust<br> 4.125%, 05/15/2025 (E) | &nbsp;&nbsp;159810 | &nbsp;&nbsp;&nbsp;&nbsp;146017 |
| Air Canada 2017-1 Class B Pass Through Trust<br> 3.700%, 01/15/2026 (E) | &nbsp;&nbsp;158201 | &nbsp;&nbsp;&nbsp;&nbsp;140983 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 09/01/2028 | &nbsp;&nbsp;208000 | &nbsp;&nbsp;&nbsp;&nbsp;169415 |
| &nbsp;&nbsp;&nbsp;2.875%, 01/15/2026 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;208183 |
| &nbsp;&nbsp;&nbsp;3.000%, 09/15/2023 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;393216 |
| &nbsp;&nbsp;&nbsp;3.125%, 12/01/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;331479 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/01/2027 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;153771 |
| Alaska Airlines 2020-1 Class B Pass Through Trust<br> 8.000%, 08/15/2025 (E) | &nbsp;&nbsp;&nbsp;&nbsp;95952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95972 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>7</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| American Airlines 2015-1 Class A Pass Through Trust<br> 3.375%, 05/01/2027 | $755339 | $616845 |
| American Airlines 2015-1 Class B Pass Through Trust<br> 3.700%, 05/01/2023 | 169665 | 165683 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | 234310 | 190086 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;62369 | &nbsp;&nbsp;&nbsp;47835 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | 183438 | 161727 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | 151290 | 117244 |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | 267973 | 194157 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | 224752 | 185948 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | 200000 | 160104 |
| American Airlines 2021-1 Class B Pass Through Trust<br> 3.950%, 07/11/2030 | 149000 | 120014 |
| American Airlines Group, Inc.<br> 3.750%, 03/01/2025 (E) | 500000 | 423499 |
| APX Group, Inc.<br> 5.750%, 07/15/2029 (E) | 266000 | 220298 |
| Ashtead Capital, Inc.<br> 2.450%, 08/12/2031 (E) | 215000 | 165968 |
| Beacon Roofing Supply, Inc.<br> 4.125%, 05/15/2029 (E) | 188000 | 156226 |
| BlueLinx Holdings, Inc.<br> 6.000%, 11/15/2029 (E) | 275000 | 228250 |
| British Airways 2013-1 Class A Pass Through Trust<br> 4.625%, 06/20/2024 (E) | 130001 | 126881 |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (E) | &nbsp;&nbsp;61493 | &nbsp;&nbsp;&nbsp;52635 |
| British Airways 2020-1 Class A Pass Through Trust<br> 4.250%, 11/15/2032 (E) | 123019 | 112066 |
| British Airways 2020-1 Class B Pass Through Trust<br> 8.375%, 11/15/2028 (E) | &nbsp;&nbsp;88536 | &nbsp;&nbsp;&nbsp;87232 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (E) | 286000 | 231868 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2030 (E) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;40760 |
| &nbsp;&nbsp;&nbsp;6.375%, 06/15/2032 (E) | 165000 | 154976 |
| Carrier Global Corp.<br> 2.700%, 02/15/2031 | 500000 | 412628 |
| Cimpress PLC<br> 7.000%, 06/15/2026 (E) | 430000 | 297259 |
| CNH Industrial Capital LLC<br> 1.950%, 07/02/2023 | 570000 | 560278 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (E) | 386000 | 315242 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| CSX Corp.<br> 3.800%, 04/15/2050 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;775494 |
| DAE Funding LLC<br> 2.625%, 03/20/2025 (E) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;249325 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.900%, 10/28/2024 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;497374 |
| &nbsp;&nbsp;&nbsp;3.800%, 04/19/2023 | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;64188 |
| &nbsp;&nbsp;&nbsp;4.375%, 04/19/2028 | &nbsp;&nbsp;359000 | &nbsp;&nbsp;&nbsp;&nbsp;319953 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/20/2025 (E) | &nbsp;&nbsp;103000 | &nbsp;&nbsp;&nbsp;&nbsp;100485 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/20/2028 (E) | &nbsp;&nbsp;307051 | &nbsp;&nbsp;&nbsp;&nbsp;288620 |
| Equifax, Inc.<br> 3.100%, 05/15/2030 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;673077 |
| Flowserve Corp.<br> 3.500%, 10/01/2030 | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;113364 |
| Fortive Corp.<br> 3.150%, 06/15/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;653645 |
| Garda World Security Corp.<br> 6.000%, 06/01/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;73129 |
| GATX Corp.<br> 3.850%, 03/30/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;746807 |
| GFL Environmental, Inc.<br> 4.375%, 08/15/2029 (E) | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;95762 |
| Global Infrastructure Solutions, Inc.<br> 5.625%, 06/01/2029 (E) | &nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;192987 |
| Graphic Packaging International LLC<br> 3.500%, 03/01/2029 (E) | &nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;227491 |
| Hillenbrand, Inc.<br> 3.750%, 03/01/2031 | &nbsp;&nbsp;103000 | &nbsp;&nbsp;&nbsp;&nbsp;84460 |
| Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.844%, 05/01/2025 | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;434794 |
| &nbsp;&nbsp;&nbsp;4.200%, 05/01/2030 | 1232000 | 1118197 |
| IDEX Corp.<br> 3.000%, 05/01/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;855844 |
| JB Hunt Transport Services, Inc.<br> 3.850%, 03/15/2024 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;687970 |
| JB Poindexter & Company, Inc.<br> 7.125%, 04/15/2026 (E) | &nbsp;&nbsp;132000 | &nbsp;&nbsp;&nbsp;&nbsp;127380 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | &nbsp;&nbsp;263227 | &nbsp;&nbsp;&nbsp;&nbsp;215933 |
| Kansas City Southern<br> 2.875%, 11/15/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;431812 |
| Lennox International, Inc.<br> 3.000%, 11/15/2023 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;785730 |
| Masco Corp.<br> 2.000%, 10/01/2030 | &nbsp;&nbsp;412000 | &nbsp;&nbsp;&nbsp;&nbsp;319332 |
| MasTec, Inc.<br> 4.500%, 08/15/2028 (E) | &nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp;171077 |
| Owens Corning<br> 3.950%, 08/15/2029 | &nbsp;&nbsp;321000 | &nbsp;&nbsp;&nbsp;&nbsp;291743 |
| Penske Truck Leasing Company LP<br> 5.875%, 11/15/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;402807 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 08/31/2027 (E) | &nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;53517 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/15/2028 (E) | &nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;198415 |
| Southwest Airlines Company<br> 5.250%, 05/04/2025 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;802974 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 03/01/2029 | &nbsp;&nbsp;199000 | &nbsp;&nbsp;&nbsp;&nbsp;174501 |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | &nbsp;&nbsp;568000 | &nbsp;&nbsp;&nbsp;&nbsp;561739 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;770755 |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;370870 |
| TransDigm, Inc.<br> 5.500%, 11/15/2027 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;178420 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>8</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| TriNet Group, Inc.<br> 3.500%, 03/01/2029 (E) | $&nbsp;&nbsp;104000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85509 |
| TTX Company<br> 4.200%, 07/01/2046 (E) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;572702 |
| Tutor Perini Corp.<br> 6.875%, 05/01/2025 (E) | &nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;226624 |
| Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2029 (E) | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;329334 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/15/2025 to 09/15/2027 (E) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;590074 |
| United Airlines 2014-2 Class A Pass Through Trust<br> 3.750%, 09/03/2026 | &nbsp;&nbsp;426162 | &nbsp;&nbsp;&nbsp;&nbsp;386616 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 | &nbsp;&nbsp;366614 | &nbsp;&nbsp;&nbsp;&nbsp;302508 |
| United Airlines 2016-1 Class B Pass Through Trust<br> 3.650%, 01/07/2026 | &nbsp;&nbsp;256896 | &nbsp;&nbsp;&nbsp;&nbsp;229630 |
| United Airlines 2018-1 Class B Pass Through Trust<br> 4.600%, 03/01/2026 | &nbsp;&nbsp;101875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93078 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;242296 | &nbsp;&nbsp;&nbsp;&nbsp;202473 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | &nbsp;&nbsp;594368 | &nbsp;&nbsp;&nbsp;&nbsp;585512 |
| United Airlines 2020-1 Class B Pass Through Trust<br> 4.875%, 01/15/2026 | &nbsp;&nbsp;164592 | &nbsp;&nbsp;&nbsp;&nbsp;154912 |
| United Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 04/15/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28735 |
| &nbsp;&nbsp;&nbsp;4.625%, 04/15/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60949 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/15/2027 | &nbsp;&nbsp;227000 | &nbsp;&nbsp;&nbsp;&nbsp;210086 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2028 | &nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;337363 |
| US Airways 2010-1 Class A Pass Through Trust<br> 6.250%, 04/22/2023 | &nbsp;&nbsp;&nbsp;&nbsp;59241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58374 |
| US Airways 2011-1 Class A Pass Through Trust<br> 7.125%, 10/22/2023 | &nbsp;&nbsp;159336 | &nbsp;&nbsp;&nbsp;&nbsp;158469 |
| US Airways 2012-2 Class A Pass Through Trust<br> 4.625%, 06/03/2025 | &nbsp;&nbsp;153282 | &nbsp;&nbsp;&nbsp;&nbsp;140017 |
| Verisk Analytics, Inc.<br> 4.125%, 03/15/2029 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;374453 |
| Wabtec Corp.<br> 3.200%, 06/15/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;470724 |
|  |  | 29219070 |
| **Information technology – 3.4%** |  |  |
| Atento Luxco 1 SA<br> 8.000%, 02/10/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52965 |
| Autodesk, Inc.<br> 2.850%, 01/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85103 |
| Block, Inc.<br> 3.500%, 06/01/2031 | &nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;100539 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 02/15/2031 (E) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;787619 |
| &nbsp;&nbsp;&nbsp;3.137%, 11/15/2035 (E) | &nbsp;&nbsp;779000 | &nbsp;&nbsp;&nbsp;&nbsp;572772 |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (E) | &nbsp;&nbsp;499000 | &nbsp;&nbsp;&nbsp;&nbsp;400052 |
| &nbsp;&nbsp;&nbsp;3.469%, 04/15/2034 (E) | &nbsp;&nbsp;421000 | &nbsp;&nbsp;&nbsp;&nbsp;335845 |
| &nbsp;&nbsp;&nbsp;4.750%, 04/15/2029 | 1134000 | &nbsp;&nbsp;&nbsp;1080158 |
| &nbsp;&nbsp;&nbsp;4.926%, 05/15/2037 (E) | &nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;184069 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| CDW LLC<br> 3.250%, 02/15/2029 | $&nbsp;&nbsp;149000 | $&nbsp;&nbsp;&nbsp;&nbsp;126902 |
| CGI, Inc.<br> 1.450%, 09/14/2026 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;333407 |
| Consensus Cloud Solutions, Inc.<br> 6.500%, 10/15/2028 (E) | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;234541 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 10/01/2026 | &nbsp;&nbsp;574000 | &nbsp;&nbsp;&nbsp;&nbsp;564988 |
| &nbsp;&nbsp;&nbsp;5.300%, 10/01/2029 | &nbsp;&nbsp;978000 | &nbsp;&nbsp;&nbsp;&nbsp;956486 |
| Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;356994 |
| &nbsp;&nbsp;&nbsp;3.850%, 06/01/2025 | &nbsp;&nbsp;614000 | &nbsp;&nbsp;&nbsp;&nbsp;594839 |
| Fortinet, Inc.<br> 2.200%, 03/15/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;769738 |
| Gartner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 06/15/2029 (E) | &nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;101932 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/01/2028 (E) | &nbsp;&nbsp;374000 | &nbsp;&nbsp;&nbsp;&nbsp;348691 |
| Infor, Inc.<br> 1.750%, 07/15/2025 (E) | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;136406 |
| Jabil, Inc.<br> 3.600%, 01/15/2030 | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;158045 |
| KLA Corp.<br> 4.100%, 03/15/2029 | &nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;203583 |
| Marvell Technology, Inc.<br> 2.450%, 04/15/2028 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;347041 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.185%, 02/15/2027 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;871054 |
| &nbsp;&nbsp;&nbsp;4.663%, 02/15/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;906974 |
| &nbsp;&nbsp;&nbsp;5.327%, 02/06/2029 | 1613000 | &nbsp;&nbsp;&nbsp;1548350 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/01/2029 | 1000000 | &nbsp;&nbsp;&nbsp;1015777 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | &nbsp;&nbsp;431000 | &nbsp;&nbsp;&nbsp;&nbsp;337022 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | &nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;315819 |
| &nbsp;&nbsp;&nbsp;4.600%, 05/23/2029 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;142759 |
| NXP BV<br> 3.875%, 06/18/2026 | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;427474 |
| Oracle Corp.<br> 2.950%, 04/01/2030 | &nbsp;&nbsp;718000 | &nbsp;&nbsp;&nbsp;&nbsp;612168 |
| PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/01/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;328600 |
| &nbsp;&nbsp;&nbsp;2.850%, 10/01/2029 | 1180000 | &nbsp;&nbsp;&nbsp;1027836 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 12/15/2024 (E) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;188795 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (E) | &nbsp;&nbsp;247000 | &nbsp;&nbsp;&nbsp;&nbsp;198449 |
| Qualcomm, Inc.<br> 1.650%, 05/20/2032 | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;435939 |
| Renesas Electronics Corp.<br> 1.543%, 11/26/2024 (E) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;235620 |
| Sabre GLBL, Inc.<br> 7.375%, 09/01/2025 (E) | &nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;200857 |
| VeriSign, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 06/15/2031 | &nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp;153110 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2025 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;159582 |
| Visa, Inc.<br> 2.050%, 04/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;338000 |
| Western Digital Corp.<br> 4.750%, 02/15/2026 | &nbsp;&nbsp;382000 | &nbsp;&nbsp;&nbsp;&nbsp;359737 |
|  |  | 18636637 |
| **Materials – 1.4%** |  |  |
| Amcor Flexibles North America, Inc.<br> 3.100%, 09/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;463645 |
| Anglo American Capital PLC<br> 4.750%, 04/10/2027 (E) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;193298 |
| Arconic Corp.<br> 6.125%, 02/15/2028 (E) | &nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;157629 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>9</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Braskem Idesa SAPI<br> 6.990%, 02/20/2032 (E) | $201000 | $&nbsp;&nbsp;&nbsp;&nbsp;143478 |
| Braskem Netherlands Finance BV<br> 5.875%, 01/31/2050 (E) | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;185920 |
| Cemex SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/11/2031 (E) | 297000 | &nbsp;&nbsp;&nbsp;&nbsp;250678 |
| &nbsp;&nbsp;&nbsp;5.200%, 09/17/2030 (E) | 224000 | &nbsp;&nbsp;&nbsp;&nbsp;208967 |
| CF Industries, Inc.<br> 4.950%, 06/01/2043 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;149717 |
| First Quantum Minerals, Ltd.<br> 6.875%, 03/01/2026 to 10/15/2027 (E) | 404000 | &nbsp;&nbsp;&nbsp;&nbsp;380582 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 03/01/2030 | 354000 | &nbsp;&nbsp;&nbsp;&nbsp;321400 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2030 | 297000 | &nbsp;&nbsp;&nbsp;&nbsp;276624 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | 934000 | &nbsp;&nbsp;&nbsp;&nbsp;842505 |
| Glencore Funding LLC<br> 2.625%, 09/23/2031 (E) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;398304 |
| Hudbay Minerals, Inc.<br> 4.500%, 04/01/2026 (E) | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;59950 |
| Huntsman International LLC<br> 4.500%, 05/01/2029 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;449040 |
| JW Aluminum Continuous Cast Company<br> 10.250%, 06/01/2026 (E) | 117000 | &nbsp;&nbsp;&nbsp;&nbsp;118755 |
| Methanex Corp.<br> 5.650%, 12/01/2044 | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;340875 |
| Newmont Corp.<br> 2.800%, 10/01/2029 | 142000 | &nbsp;&nbsp;&nbsp;&nbsp;120719 |
| Novelis Corp.<br> 4.750%, 01/30/2030 (E) | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;363492 |
| Owens-Brockway Glass Container, Inc.<br> 6.625%, 05/13/2027 (E) | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;126127 |
| Pactiv Evergreen Group Issuer LLC<br> 4.375%, 10/15/2028 (E) | 174000 | &nbsp;&nbsp;&nbsp;&nbsp;155452 |
| Pactiv Evergreen Group Issuer, Inc.<br> 4.000%, 10/15/2027 (E) | 362000 | &nbsp;&nbsp;&nbsp;&nbsp;321130 |
| Sasol Financing USA LLC<br> 5.500%, 03/18/2031 | 346000 | &nbsp;&nbsp;&nbsp;&nbsp;281694 |
| Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 01/15/2031 (E) | 142000 | &nbsp;&nbsp;&nbsp;&nbsp;106855 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2030 (E) | 149000 | &nbsp;&nbsp;&nbsp;&nbsp;121424 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/15/2027 (E) | &nbsp;&nbsp;73000 | &nbsp;&nbsp;&nbsp;&nbsp;67360 |
| The Mosaic Company<br> 4.250%, 11/15/2023 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;594994 |
| Trident TPI Holdings, Inc.<br> 6.625%, 11/01/2025 (E) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;56331 |
| Trinseo Materials Operating SCA<br> 5.125%, 04/01/2029 (E) | 167000 | &nbsp;&nbsp;&nbsp;&nbsp;108169 |
| Valvoline, Inc.<br> 3.625%, 06/15/2031 (E) | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;247800 |
| Volcan Cia Minera SAA<br> 4.375%, 02/11/2026 (E) | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;59447 |
|  |  | 7672361 |
| **Real estate – 2.6%** |  |  |
| American Homes 4 Rent LP<br> 4.250%, 02/15/2028 | 203000 | &nbsp;&nbsp;&nbsp;&nbsp;187706 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.600%, 04/15/2026 | 216000 | &nbsp;&nbsp;&nbsp;&nbsp;192043 |
| &nbsp;&nbsp;&nbsp;3.550%, 07/15/2027 | 257000 | &nbsp;&nbsp;&nbsp;&nbsp;237982 |
| &nbsp;&nbsp;&nbsp;3.800%, 08/15/2029 | 531000 | &nbsp;&nbsp;&nbsp;&nbsp;481709 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/15/2024 | 670000 | &nbsp;&nbsp;&nbsp;&nbsp;667531 |
| Brixmor Operating Partnership LP<br> 4.050%, 07/01/2030 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;437402 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 07/01/2030 | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;358665 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Crown Castle, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 06/15/2026 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;475418 |
| &nbsp;&nbsp;&nbsp;3.800%, 02/15/2028 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;209107 |
| &nbsp;&nbsp;&nbsp;4.150%, 07/01/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;310024 |
| CubeSmart LP<br> 4.375%, 02/15/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;553303 |
| EPR Properties<br> 4.950%, 04/15/2028 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;298612 |
| Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.800%, 07/15/2027 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;184028 |
| &nbsp;&nbsp;&nbsp;2.900%, 11/18/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;913996 |
| ERP Operating LP<br> 3.375%, 06/01/2025 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;288178 |
| Extra Space Storage LP<br> 2.350%, 03/15/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;378353 |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2032 | &nbsp;&nbsp;521000 | &nbsp;&nbsp;&nbsp;&nbsp;416479 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2030 | &nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;128745 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2026 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;230551 |
| Healthcare Realty Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 08/01/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;465379 |
| &nbsp;&nbsp;&nbsp;3.750%, 07/01/2027 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;557633 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;2.900%, 12/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;382482 |
| &nbsp;&nbsp;&nbsp;3.375%, 12/15/2029 | &nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;315163 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2030 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;181559 |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2026 | &nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;205055 |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (E) | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54826 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 09/15/2029 (E) | &nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp;118619 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2030 (E) | &nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp;138171 |
| Mid-America Apartments LP<br> 3.950%, 03/15/2029 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;657014 |
| Piedmont Operating Partnership LP<br> 4.450%, 03/15/2024 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;491231 |
| RHP Hotel Properties LP<br> 4.500%, 02/15/2029 (E) | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;185458 |
| SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;1.884%, 01/15/2026 (E) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;439739 |
| &nbsp;&nbsp;&nbsp;2.836%, 01/15/2025 (E) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;250710 |
| &nbsp;&nbsp;&nbsp;6.599%, 01/15/2028 (E) | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;515807 |
| Ventas Realty LP<br> 4.750%, 11/15/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;933703 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2029 (E) | &nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;181422 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2030 (E) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;140026 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2029 (E) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;236600 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71298 |
| Welltower, Inc.<br> 2.700%, 02/15/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;360219 |
| XHR LP<br> 4.875%, 06/01/2029 (E) | &nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87647 |
|  |  | 13919593 |
| **Utilities – 1.9%** |  |  |
| AES Panama Generation Holdings SRL<br> 4.375%, 05/31/2030 (E) | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;176346 |
| Ameren Corp.<br> 3.500%, 01/15/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;884413 |
| AmeriGas Partners LP<br> 5.500%, 05/20/2025 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;264227 |
| Arizona Public Service Company<br> 5.500%, 09/01/2035 | 1118000 | &nbsp;&nbsp;&nbsp;1039337 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>10</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Atlantica Transmision Sur SA<br> 6.875%, 04/30/2043 (E) | &nbsp;&nbsp;207020 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187094 |
| CenterPoint Energy Houston Electric LLC<br> 6.950%, 03/15/2033 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598917 |
| Consolidated Edison Company of New<br> York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, 04/01/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449682 |
| &nbsp;&nbsp;&nbsp;3.950%, 04/01/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392157 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2030 | &nbsp;&nbsp;604000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532255 |
| &nbsp;&nbsp;&nbsp;3.600%, 03/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469902 |
| DPL, Inc.<br> 4.125%, 07/01/2025 | &nbsp;&nbsp;203000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190820 |
| Edison International<br> 3.550%, 11/15/2024 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675763 |
| Emera US Finance LP<br> 3.550%, 06/15/2026 | &nbsp;&nbsp;158000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147999 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 03/01/2030 | &nbsp;&nbsp;254000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207096 |
| &nbsp;&nbsp;&nbsp;3.400%, 03/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;82000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54104 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115129 |
| &nbsp;&nbsp;&nbsp;3.550%, 05/01/2027 | &nbsp;&nbsp;677000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637817 |
| NextEra Energy Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 10/15/2026 (E) | &nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222350 |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2027 (E) | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184371 |
| NiSource, Inc.<br> 3.600%, 05/01/2030 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204797 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 12/02/2027 (E) | &nbsp;&nbsp;284000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235310 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2029 (E) | &nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50010 |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2031 (E) | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133035 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2032 (E) | &nbsp;&nbsp;371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278640 |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (E) | &nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227278 |
| Southern California Edison Company<br> 3.700%, 08/01/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967482 |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 01/30/2027 (E) | &nbsp;&nbsp;624000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568977 |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (E) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481952 |
|  |  | &nbsp;&nbsp;&nbsp;10577260 |
| TOTAL CORPORATE BONDS (Cost $255,445,940) |  | $227713750 |
| **CAPITAL PREFERRED SECURITIES – 0.2%** | **CAPITAL PREFERRED SECURITIES – 0.2%** |  |
| **Financials – 0.2%** |  |  |
| Truist Financial Corp.<br> 5.414%, (Greater of 3 month LIBOR + 0.645% or 4.000%), 12/15/2024 (C)(H) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335750 |
| USB Capital IX<br> 5.099%, (Greater of 3 month LIBOR + 1.020% or 3.500%), 01/30/2023 (C)(H) | 1045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1158687 |
| TOTAL CAPITAL PREFERRED SECURITIES (Cost $1,390,643) |  | $&nbsp;&nbsp;&nbsp;1158687 |
| **MUNICIPAL BONDS – 0.6%** |  |  |
| Foothill-Eastern Transportation Corridor Agency (California)<br> 4.094%, 01/15/2049 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755143 |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | &nbsp;&nbsp;231000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180139 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| New Jersey Transportation Trust<br> Fund Authority |  |  |
| &nbsp;&nbsp;&nbsp;4.081%, 06/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;283000 | $&nbsp;&nbsp;&nbsp;&nbsp;234055 |
| &nbsp;&nbsp;&nbsp;4.131%, 06/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;32129 |
| Sales Tax Securitization Corp. (Illinois)<br> 4.637%, 01/01/2040 | &nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;424963 |
| State Board of Administration Finance Corp. (Florida)<br> 1.705%, 07/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;174000 | &nbsp;&nbsp;&nbsp;&nbsp;151496 |
| State of Connecticut, GO<br> 2.677%, 07/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;214313 |
| The School District of Philadelphia<br> (Pennsylvania), GO |  |  |
| &nbsp;&nbsp;&nbsp;5.995%, 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;325254 |
| &nbsp;&nbsp;&nbsp;6.765%, 06/01/2040 | &nbsp;&nbsp;1010000 | 1089750 |
| TOTAL MUNICIPAL BONDS (Cost $4,088,766) | TOTAL MUNICIPAL BONDS (Cost $4,088,766) | $3407242 |
| **TERM LOANS (I) – 0.1%** | **TERM LOANS (I) – 0.1%** |  |
| **Communication services – 0.0%** |  |  |
| AP Core Holdings II LLC, High-Yield Term Loan B2 (1 month LIBOR + 5.500%) 9.884%, 09/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;83439 |
| **Health care – 0.0%** |  |  |
| TTF Holdings LLC, Term Loan (1 month LIBOR + 4.000%) 8.384%, 03/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;57061 | &nbsp;&nbsp;&nbsp;&nbsp;56205 |
| **Industrials – 0.1%** |  |  |
| CoreLogic, Inc., Term Loan (1 month LIBOR + 3.500%) 7.938%, 06/02/2028 | &nbsp;&nbsp;&nbsp;&nbsp;573291 | &nbsp;&nbsp;&nbsp;&nbsp;476548 |
| **Materials – 0.0%** |  |  |
| Clydesdale Acquisition Holdings, Inc., Term Loan B (1 month SOFR + 4.175%) 8.598%, 04/13/2029 | &nbsp;&nbsp;&nbsp;&nbsp;56715 | &nbsp;&nbsp;&nbsp;&nbsp;53903 |
| Mauser Packaging Solutions Holding Company, 2017 Term Loan B (1 month LIBOR + 3.250%) 7.370%, 04/03/2024 | &nbsp;&nbsp;&nbsp;&nbsp;21942 | &nbsp;&nbsp;&nbsp;&nbsp;21396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;75299 |
| TOTAL TERM LOANS (Cost $798,290) | TOTAL TERM LOANS (Cost $798,290) | $&nbsp;&nbsp;&nbsp;&nbsp;691491 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 9.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 9.4%** |  |
| **Commercial and residential – 6.7%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.985%, 04/25/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;120156 | &nbsp;&nbsp;&nbsp;&nbsp;98622 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;260516 | &nbsp;&nbsp;&nbsp;&nbsp;204869 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;327346 | &nbsp;&nbsp;&nbsp;&nbsp;267011 |
| Arbor Multifamily Mortgage Securities Trust<br> Series 2020-MF1, Class XA IO<br> 0.963%, 05/15/2053 (E) | &nbsp;&nbsp;4329619 | &nbsp;&nbsp;&nbsp;&nbsp;219534 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;206246 | &nbsp;&nbsp;&nbsp;&nbsp;161914 |
| BAMLL Commercial Mortgage Securities Trust<br> Series 2019-BPR, Class ENM<br> 3.719%, 11/05/2032 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;86632 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-BN20, Class ASB,<br> 2.933%, 09/15/2062 | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;362081 |
| &nbsp;&nbsp;&nbsp;Series 2021-BN34, Class XA IO,<br> 0.977%, 06/15/2063 | 12758125 | &nbsp;&nbsp;&nbsp;&nbsp;707762 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>11</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BBCMS Mortgage Trust<br> Series 2020-C6, Class A2<br> 2.690%, 02/15/2053 | $&nbsp;&nbsp;101000 | $&nbsp;&nbsp;&nbsp;95230 |
| BBCMS Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-MSQ, Class D,<br> 3.990%, 09/15/2032 (B)(E) | &nbsp;&nbsp;140000 | 128184 |
| &nbsp;&nbsp;&nbsp;Series 2015-SRCH, Class D,<br> 4.957%, 08/10/2035 (B)(E) | &nbsp;&nbsp;194000 | 163763 |
| Bear Stearns Asset Backed Securities Trust<br> Series 2003-AC4, Class A<br> 5.500%, 09/25/2033 | &nbsp;&nbsp;270871 | 247626 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class A2,<br> 3.001%, 08/15/2052 | &nbsp;&nbsp;250504 | 239420 |
| &nbsp;&nbsp;&nbsp;Series 2019-B15, Class XA IO,<br> 0.819%, 12/15/2072 | 9859050 | 388054 |
| BMO Mortgage Trust<br> Series 2022-C2, Class A5<br> 4.813%, 07/15/2054 (B) | &nbsp;&nbsp;500000 | 490991 |
| BOCA Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BOCA, Class A (1 month CME Term SOFR + 1.770%),<br> 6.105%, 05/15/2039 (C)(E) | &nbsp;&nbsp;260000 | 254754 |
| &nbsp;&nbsp;&nbsp;Series 2022-BOCA, Class B (1 month CME Term SOFR + 2.319%),<br> 6.655%, 05/15/2039 (C)(E) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;96320 |
| BPR Trust<br> Series 2022-OANA, Class A (1 month CME Term SOFR + 1.898%)<br> 6.234%, 04/15/2037 (C)(E) | &nbsp;&nbsp;756000 | 737854 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (B)(E) | &nbsp;&nbsp;139981 | 116027 |
| BWAY Mortgage Trust<br> Series 2015-1740, Class XA IO<br> 0.179%, 01/10/2035 (E) | 3705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-VKNG, Class A (1 month CME Term SOFR + 1.044%),<br> 5.380%, 10/15/2037 (C)(E) | &nbsp;&nbsp;233764 | 228114 |
| &nbsp;&nbsp;&nbsp;Series 2021-ACNT, Class A (1 month LIBOR + 0.850%),<br> 5.168%, 11/15/2038 (C)(E) | &nbsp;&nbsp;243000 | 233768 |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class C (1 month LIBOR + 1.100%),<br> 5.418%, 09/15/2036 (C)(E) | &nbsp;&nbsp;278000 | 261042 |
| &nbsp;&nbsp;&nbsp;Series 2022-AHP, Class A (1 month CME Term SOFR + 0.990%),<br> 5.326%, 01/17/2039 (C)(E) | &nbsp;&nbsp;566000 | 541661 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class A,<br> 3.202%, 12/09/2041 (E) | &nbsp;&nbsp;383000 | 320408 |
| &nbsp;&nbsp;&nbsp;Series 2019-OC11, Class D,<br> 3.944%, 12/09/2041 (B)(E) | &nbsp;&nbsp;300000 | 239075 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (E) | &nbsp;&nbsp;267000 | 261337 |
| CAMB Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-LIFE, Class D (1 month LIBOR + 1.750%),<br> 6.068%, 12/15/2037 (C)(E) | &nbsp;&nbsp;121000 | 116745 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| CAMB Commercial<br> Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-LIFE, Class F (1 month LIBOR + 2.550%),<br> 6.868%, 12/15/2037 (C)(E) | $&nbsp;&nbsp;&nbsp;&nbsp;192000 | $182838 |
| CD Mortgage Trust<br> Series 2017-CD3, Class A4<br> 3.631%, 02/10/2050 | &nbsp;&nbsp;&nbsp;&nbsp;800000 | 743931 |
| CFCRE Commercial Mortgage Trust<br> Series 2017-C8, Class C<br> 4.896%, 06/15/2050 (B) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | 433165 |
| CHL Mortgage Pass-Through Trust<br> Series 2004-HYB2, Class 4A<br> 2.708%, 07/20/2034 (B) | &nbsp;&nbsp;&nbsp;&nbsp;459522 | 425342 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C5, Class A3,<br> 3.963%, 06/10/2051 | &nbsp;&nbsp;&nbsp;&nbsp;420659 | 391340 |
| &nbsp;&nbsp;&nbsp;Series 2018-C5, Class XA IO,<br> 0.673%, 06/10/2051 | 13948183 | 421503 |
| &nbsp;&nbsp;&nbsp;Series 2019-C7, Class XA IO,<br> 0.867%, 12/15/2072 | 15795228 | 697557 |
| &nbsp;&nbsp;&nbsp;Series 2019-PRM, Class A,<br> 3.341%, 05/10/2036 (E) | &nbsp;&nbsp;&nbsp;&nbsp;310000 | 304526 |
| &nbsp;&nbsp;&nbsp;Series 2019-SMRT, Class A,<br> 4.149%, 01/10/2036 (E) | &nbsp;&nbsp;&nbsp;&nbsp;162000 | 157953 |
| Cold Storage Trust<br> Series 2020-ICE5, Class D (1 month LIBOR + 2.100%)<br> 6.418%, 11/15/2037 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;491495 | 474836 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;286380 | 225934 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 0.956%, 09/27/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;381460 | 294889 |
| &nbsp;&nbsp;&nbsp;Series 2021-HX1, Class A1,<br> 1.110%, 10/25/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;314264 | 250726 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;399171 | 338302 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-CR3, Class XA IO,<br> 1.530%, 10/15/2045 | &nbsp;&nbsp;1365151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 |
| &nbsp;&nbsp;&nbsp;Series 2013-CR8, Class A5,<br> 3.612%, 06/10/2046 (B) | &nbsp;&nbsp;&nbsp;&nbsp;332351 | 330242 |
| &nbsp;&nbsp;&nbsp;Series 2013-CR8, Class AM,<br> 3.765%, 06/10/2046 (B)(E) | &nbsp;&nbsp;1000000 | 989848 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class C,<br> 4.673%, 02/10/2047 (B) | &nbsp;&nbsp;&nbsp;&nbsp;800000 | 767359 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR15, Class XA IO,<br> 0.619%, 02/10/2047 | &nbsp;&nbsp;4582308 | &nbsp;&nbsp;&nbsp;23071 |
| &nbsp;&nbsp;&nbsp;Series 2015-CR27, Class A4,<br> 3.612%, 10/10/2048 | &nbsp;&nbsp;1000000 | 950705 |
| Commercial Mortgage Trust (Citigroup/Deutsche Bank AG)<br> Series 2018-COR3, Class XA IO<br> 0.435%, 05/10/2051 | &nbsp;&nbsp;4993539 | &nbsp;&nbsp;&nbsp;94803 |
| Commercial Mortgage Trust (Deutsche<br> Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-300P, Class D,<br> 4.394%, 08/10/2030 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;307000 | 272192 |
| &nbsp;&nbsp;&nbsp;Series 2013-300P, Class E,<br> 4.394%, 08/10/2030 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;700000 | 594568 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>12</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Commercial Mortgage Trust (Deutsche<br> Bank AG) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-PANW, Class A,<br> 3.244%, 10/10/2029 (E) | $&nbsp;&nbsp;&nbsp;&nbsp;89000 | $&nbsp;&nbsp;&nbsp;&nbsp;83080 |
| &nbsp;&nbsp;&nbsp;Series 2020-CBM, Class A2,<br> 2.896%, 02/10/2037 (E) | &nbsp;&nbsp;169000 | &nbsp;&nbsp;&nbsp;&nbsp;155737 |
| &nbsp;&nbsp;&nbsp;Series 2020-CX, Class A,<br> 2.173%, 11/10/2046 (E) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;387797 |
| Commercial Mortgage Trust (Deutsche Bank AG/UBS AG)<br> Series 2014-UBS2, Class XA IO<br> 1.059%, 03/10/2047 | 3058802 | &nbsp;&nbsp;&nbsp;&nbsp;23475 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-ICE4, Class D (1 month LIBOR + 1.600%),<br> 5.918%, 05/15/2036 (C)(E) | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;298658 |
| &nbsp;&nbsp;&nbsp;Series 2020-NET, Class A,<br> 2.257%, 08/15/2037 (E) | &nbsp;&nbsp;103596 | &nbsp;&nbsp;&nbsp;&nbsp;92535 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (B)(E) | &nbsp;&nbsp;204166 | &nbsp;&nbsp;&nbsp;&nbsp;169069 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (B)(E) | &nbsp;&nbsp;182853 | &nbsp;&nbsp;&nbsp;&nbsp;143765 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM5, Class A1,<br> 0.938%, 05/25/2066 (B)(E) | &nbsp;&nbsp;192670 | &nbsp;&nbsp;&nbsp;&nbsp;148615 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (B)(E) | &nbsp;&nbsp;321334 | &nbsp;&nbsp;&nbsp;&nbsp;249696 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-C17, Class A4,<br> 2.763%, 09/15/2052 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;363118 |
| &nbsp;&nbsp;&nbsp;Series 2019-C18, Class E,<br> 2.500%, 12/15/2052 (E) | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;152724 |
| DSLA Mortgage Loan Trust<br> Series 2004-AR3, Class 2A2B (1 month LIBOR + 0.900%)<br> 5.239%, 07/19/2044 (C) | &nbsp;&nbsp;280471 | &nbsp;&nbsp;&nbsp;&nbsp;242335 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;94567 | &nbsp;&nbsp;&nbsp;&nbsp;77122 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (B)(E) | &nbsp;&nbsp;217586 | &nbsp;&nbsp;&nbsp;&nbsp;167356 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (B)(E) | &nbsp;&nbsp;344409 | &nbsp;&nbsp;&nbsp;&nbsp;276886 |
| FREMF Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-K54, Class C,<br> 4.053%, 04/25/2048 (B)(E) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;270284 |
| &nbsp;&nbsp;&nbsp;Series 2016-K56, Class B,<br> 3.944%, 06/25/2049 (B)(E) | 1085000 | 1022809 |
| &nbsp;&nbsp;&nbsp;Series 2017-K67, Class B,<br> 3.946%, 09/25/2049 (B)(E) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;446070 |
| &nbsp;&nbsp;&nbsp;Series 2018-K730, Class B,<br> 3.796%, 02/25/2050 (B)(E) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;286239 |
| &nbsp;&nbsp;&nbsp;Series 2019-KF69, Class B (1 month LIBOR + 2.300%),<br> 6.442%, 08/25/2029 (C)(E) | &nbsp;&nbsp;140962 | &nbsp;&nbsp;&nbsp;&nbsp;131627 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (B)(E) | &nbsp;&nbsp;160896 | &nbsp;&nbsp;&nbsp;&nbsp;135064 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (B)(E) | &nbsp;&nbsp;154174 | &nbsp;&nbsp;&nbsp;&nbsp;119824 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (B)(E) | &nbsp;&nbsp;251035 | &nbsp;&nbsp;&nbsp;&nbsp;199650 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-GC10, Class C,<br> 4.285%, 02/10/2046 (B)(E) | $&nbsp;&nbsp;859800 | $857506 |
| &nbsp;&nbsp;&nbsp;Series 2017-485L, Class C,<br> 3.982%, 02/10/2037 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;71542 |
| &nbsp;&nbsp;&nbsp;Series 2020-UPTN, Class A,<br> 2.751%, 02/10/2037 (E) | &nbsp;&nbsp;136000 | 124205 |
| GS Mortgage-Backed Securities Trust<br> Series 2021-NQM1, Class A1<br> 1.017%, 07/25/2061 (B)(E) | &nbsp;&nbsp;110986 | &nbsp;&nbsp;&nbsp;91027 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2047 (E) | 7610245 | &nbsp;&nbsp;&nbsp;79193 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2047 | 7860326 | 103611 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (E) | 8106732 | 102163 |
| Hilton Orlando Trust<br> Series 2018-ORL, Class B (1 month LIBOR + 1.200%)<br> 5.618%, 12/15/2034 (C)(E) | 1000000 | 967287 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (B)(E) | &nbsp;&nbsp;149841 | 120958 |
| IMT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-APTS, Class AFX,<br> 3.478%, 06/15/2034 (E) | &nbsp;&nbsp;107000 | 102005 |
| &nbsp;&nbsp;&nbsp;Series 2017-APTS, Class CFX,<br> 3.497%, 06/15/2034 (B)(E) | &nbsp;&nbsp;123000 | 115857 |
| InTown Mortgage Trust<br> Series 2022-STAY, Class A (1 month CME Term SOFR + 2.489%)<br> 6.825%, 08/15/2039 (C)(E) | &nbsp;&nbsp;434000 | 431146 |
| Irvine Core Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-IRV, Class A2,<br> 3.173%, 05/15/2048 (B)(E) | &nbsp;&nbsp;260000 | 257007 |
| &nbsp;&nbsp;&nbsp;Series 2013-IRV, Class XA IO,<br> 1.105%, 05/15/2048 (E) | &nbsp;&nbsp;919616 | &nbsp;&nbsp;&nbsp;&nbsp;1043 |
| JPMBB Commercial Mortgage Securities Trust<br> Series 2013-C14, Class XA IO<br> 0.363%, 08/15/2046 | 4239456 | &nbsp;&nbsp;&nbsp;&nbsp;3376 |
| JPMorgan Chase Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-ACE, Class A,<br> 3.287%, 01/10/2037 (E) | 1000000 | 926780 |
| &nbsp;&nbsp;&nbsp;Series 2020-NNN, Class AFX,<br> 2.812%, 01/16/2037 (E) | &nbsp;&nbsp;258000 | 233018 |
| KNDL Mortgage Trust<br> Series 2019-KNSQ, Class D (1 month LIBOR + 1.350%)<br> 5.668%, 05/15/2036 (C)(E) | &nbsp;&nbsp;187000 | 182219 |
| Life Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class A (1 month LIBOR + 0.700%),<br> 5.018%, 03/15/2038 (C)(E) | &nbsp;&nbsp;340108 | 329331 |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class D (1 month LIBOR + 1.400%),<br> 5.718%, 03/15/2038 (C)(E) | &nbsp;&nbsp;275232 | 260727 |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class E (1 month LIBOR + 1.750%),<br> 6.068%, 03/15/2038 (C)(E) | &nbsp;&nbsp;982970 | 929935 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>13</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Life Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%),<br> 5.631%, 05/15/2039 (C)(E) | $&nbsp;&nbsp;&nbsp;&nbsp;736000 | $717561 |
| MASTR Adjustable Rate<br> Mortgages Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-13, Class 2A1,<br> 4.021%, 04/21/2034 (B) | &nbsp;&nbsp;&nbsp;&nbsp;56504 | &nbsp;&nbsp;&nbsp;53151 |
| &nbsp;&nbsp;&nbsp;Series 2004-8, Class 5A1,<br> 4.062%, 08/25/2034 (B) | &nbsp;&nbsp;&nbsp;&nbsp;78499 | &nbsp;&nbsp;&nbsp;73915 |
| MASTR Alternative Loan Trust<br> Series 2004-4, Class 8A1<br> 6.500%, 05/25/2034 | &nbsp;&nbsp;&nbsp;&nbsp;154253 | 145990 |
| Merrill Lynch Mortgage Investors Trust<br> Series 2005-A, Class A1 (1 month LIBOR + 0.460%)<br> 4.849%, 03/25/2030 (C) | &nbsp;&nbsp;&nbsp;&nbsp;12695 | &nbsp;&nbsp;&nbsp;11588 |
| Merrill Lynch Mortgage Trust<br> Series 2008-C1, Class X IO<br> 0.000%, 02/12/2051 (E) | &nbsp;&nbsp;2493844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;127151 | 109703 |
| Morgan Stanley Bank of America Merrill<br> Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-C7, Class XA IO,<br> 0.866%, 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;743665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |
| &nbsp;&nbsp;&nbsp;Series 2014-C17, Class XA IO,<br> 1.027%, 08/15/2047 | &nbsp;&nbsp;8559543 | &nbsp;&nbsp;&nbsp;80450 |
| Morgan Stanley Capital I Trust<br> Series 2019-L3, Class XA IO<br> 0.637%, 11/15/2052 | 21354614 | 690828 |
| Natixis Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-285M, Class D,<br> 3.790%, 11/15/2032 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;135000 | 113568 |
| &nbsp;&nbsp;&nbsp;Series 2018-ALXA, Class C,<br> 4.316%, 01/15/2043 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;82325 |
| NYMT Loan Trust<br> Series 2022-CP1, Class A1<br> 2.042%, 07/25/2061 (E) | &nbsp;&nbsp;&nbsp;&nbsp;157915 | 140974 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;113421 | &nbsp;&nbsp;&nbsp;89745 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;286514 | 218088 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;349847 | 262954 |
| One Market Plaza Trust<br> Series 2017-1MKT, Class D<br> 4.146%, 02/10/2032 (E) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;83058 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;308593 | 263517 |
| Sequoia Mortgage Trust<br> Series 2005-3, Class A1 (1 month LIBOR + 0.400%)<br> 4.753%, 05/20/2035 (C) | &nbsp;&nbsp;&nbsp;&nbsp;29433 | &nbsp;&nbsp;&nbsp;25116 |
| SLG Office Trust<br> Series 2021-OVA, Class D<br> 2.851%, 07/15/2041 (E) | &nbsp;&nbsp;&nbsp;&nbsp;352000 | 261410 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| SMRT<br> Series 2022-MINI, Class A (1 month CME Term SOFR + 1.000%)<br> 5.336%, 01/15/2039 (C)(E) | $&nbsp;&nbsp;791000 | $&nbsp;&nbsp;&nbsp;&nbsp;763248 |
| Starwood Mortgage Residential Trust<br> Series 2022-1, Class A1<br> 2.447%, 12/25/2066 (B)(E) | &nbsp;&nbsp;345852 | &nbsp;&nbsp;&nbsp;&nbsp;289522 |
| Structured Asset Securities Corp.<br> Series 1998-RF2, Class A<br> 4.739%, 07/15/2027 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;34261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34190 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-1, Class A5,<br> 3.638%, 10/25/2053 (B)(E) | &nbsp;&nbsp;123000 | &nbsp;&nbsp;&nbsp;&nbsp;118607 |
| &nbsp;&nbsp;&nbsp;Series 2015-2, Class 1M2,<br> 3.436%, 11/25/2060 (B)(E) | &nbsp;&nbsp;147736 | &nbsp;&nbsp;&nbsp;&nbsp;144235 |
| &nbsp;&nbsp;&nbsp;Series 2015-6, Class M2,<br> 3.750%, 04/25/2055 (B)(E) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;929085 |
| &nbsp;&nbsp;&nbsp;Series 2017-2, Class A1,<br> 2.750%, 04/25/2057 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;6887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798 |
| &nbsp;&nbsp;&nbsp;Series 2018-1, Class A1,<br> 3.000%, 01/25/2058 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;45381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43757 |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (B)(E) | &nbsp;&nbsp;216514 | &nbsp;&nbsp;&nbsp;&nbsp;197422 |
| &nbsp;&nbsp;&nbsp;Series 2018-5, Class A1A,<br> 3.250%, 07/25/2058 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;24056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23139 |
| &nbsp;&nbsp;&nbsp;Series 2018-6, Class A1A,<br> 3.750%, 03/25/2058 (B)(E) | &nbsp;&nbsp;157025 | &nbsp;&nbsp;&nbsp;&nbsp;152398 |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class A1,<br> 3.722%, 03/25/2058 (B)(E) | &nbsp;&nbsp;179296 | &nbsp;&nbsp;&nbsp;&nbsp;168702 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (B)(E) | &nbsp;&nbsp;161762 | &nbsp;&nbsp;&nbsp;&nbsp;150203 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (E) | &nbsp;&nbsp;242558 | &nbsp;&nbsp;&nbsp;&nbsp;214263 |
| UBS-Barclays Commercial Mortgage Trust<br> Series 2012-C2, Class XA IO<br> 0.524%, 05/10/2063 (E) | &nbsp;&nbsp;907940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Velocity Commercial Capital Loan Trust<br> Series 2018-2, Class M1<br> 4.260%, 10/26/2048 (B)(E) | &nbsp;&nbsp;165317 | &nbsp;&nbsp;&nbsp;&nbsp;141554 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1 (1.218% to 10-1-24, then 2.218% thereafter),<br> 1.218%, 05/25/2065 (E) | &nbsp;&nbsp;&nbsp;&nbsp;85951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77974 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (B)(E) | &nbsp;&nbsp;265568 | &nbsp;&nbsp;&nbsp;&nbsp;212085 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (B)(E) | &nbsp;&nbsp;150862 | &nbsp;&nbsp;&nbsp;&nbsp;116069 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (B)(E) | &nbsp;&nbsp;283266 | &nbsp;&nbsp;&nbsp;&nbsp;226134 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (B)(E) | &nbsp;&nbsp;121850 | &nbsp;&nbsp;&nbsp;&nbsp;108773 |
| Washington Mutual Mortgage Pass Through Certificates<br> Series 2005-1, Class 6A1<br> 6.500%, 03/25/2035 | &nbsp;&nbsp;180049 | &nbsp;&nbsp;&nbsp;&nbsp;151176 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2019-C54, Class A3<br> 2.892%, 12/15/2052 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;431136 |
| WF-RBS Commercial Mortgage Trust<br> Series 2012-C10, Class XA IO<br> 1.181%, 12/15/2045 (E) | 1136762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 |
|  |  | 36692892 |

---

**The accompanying notes are an integral part of the financial statements.** <sub>14</sub>

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency – 2.7%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class M2 (1 month SOFR + 2.100%),<br> 6.028%, 09/25/2041 (C)(E) | $&nbsp;&nbsp;1000000 | $880225 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class M1A (1 month SOFR + 1.000%),<br> 4.928%, 01/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;360949 | 351681 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M1A (1 month SOFR + 1.300%),<br> 5.228%, 02/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;236063 | 232154 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M1B (1 month SOFR + 2.400%),<br> 6.328%, 02/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;342000 | 332601 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1A (1 month SOFR + 2.000%),<br> 5.928%, 04/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;320960 | 319356 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1B (1 month SOFR + 2.900%),<br> 6.828%, 04/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;205000 | 202567 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1A (1 month SOFR + 2.200%),<br> 6.128%, 05/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;243049 | 242296 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (1 month SOFR + 3.350%),<br> 7.278%, 05/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;304000 | 305614 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M1B (1 month SOFR + 4.500%),<br> 8.428%, 06/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;335000 | 350258 |
| &nbsp;&nbsp;&nbsp;Series 290, Class IO,<br> 3.500%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;704779 | &nbsp;&nbsp;&nbsp;74653 |
| &nbsp;&nbsp;&nbsp;Series 3387, Class SB IO,<br> 2.102%, 11/15/2037 | &nbsp;&nbsp;&nbsp;&nbsp;713095 | &nbsp;&nbsp;&nbsp;45976 |
| &nbsp;&nbsp;&nbsp;Series 3632, Class AP,<br> 3.000%, 02/15/2040 | &nbsp;&nbsp;&nbsp;&nbsp;405201 | 383648 |
| &nbsp;&nbsp;&nbsp;Series K026, Class X1 IO,<br> 0.877%, 11/25/2022 | &nbsp;&nbsp;&nbsp;&nbsp;29008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp;Series K109, Class X1 IO,<br> 1.583%, 04/25/2030 | &nbsp;&nbsp;3115103 | 268945 |
| &nbsp;&nbsp;&nbsp;Series T-41, Class 3A,<br> 4.402%, 07/25/2032 (B) | &nbsp;&nbsp;&nbsp;&nbsp;39842 | &nbsp;&nbsp;&nbsp;38118 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2001-50, Class BA,<br> 7.000%, 10/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428 | &nbsp;&nbsp;&nbsp;&nbsp;4550 |
| &nbsp;&nbsp;&nbsp;Series 2002-W3, Class A5,<br> 7.500%, 11/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;43405 | &nbsp;&nbsp;&nbsp;46645 |
| &nbsp;&nbsp;&nbsp;Series 2011-41, Class KA,<br> 4.000%, 01/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;41501 | &nbsp;&nbsp;&nbsp;40402 |
| &nbsp;&nbsp;&nbsp;Series 2012-137, Class WI IO,<br> 3.500%, 12/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;660187 | &nbsp;&nbsp;&nbsp;72113 |
| &nbsp;&nbsp;&nbsp;Series 2012-21, Class PA,<br> 2.000%, 03/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;608514 | 569823 |
| &nbsp;&nbsp;&nbsp;Series 2012-38, Class PA,<br> 2.000%, 09/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;424679 | 385872 |
| &nbsp;&nbsp;&nbsp;Series 2015-C01, Class 1M2 (1 month LIBOR + 4.300%),<br> 8.689%, 02/25/2025 (C) | &nbsp;&nbsp;&nbsp;&nbsp;51156 | &nbsp;&nbsp;&nbsp;52051 |
| &nbsp;&nbsp;&nbsp;Series 2016-M11, Class X1 IO,<br> 0.413%, 07/25/2026 | 18422017 | 207574 |
| &nbsp;&nbsp;&nbsp;Series 2016-M12, Class X2 IO,<br> 0.029%, 09/25/2026 | 29160581 | &nbsp;&nbsp;&nbsp;16219 |
| &nbsp;&nbsp;&nbsp;Series 2019-M25, Class X IO,<br> 0.129%, 11/25/2029 | 31314169 | 252618 |
| &nbsp;&nbsp;&nbsp;Series 2020-M1, Class X1 IO,<br> 0.198%, 10/25/2029 | 24205879 | 207786 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R02, Class 2M2 (1 month LIBOR + 2.000%),<br> 6.389%, 01/25/2040 (C)(E) | $&nbsp;&nbsp;&nbsp;&nbsp;143795 | $141624 |
| &nbsp;&nbsp;&nbsp;Series 2021-31, Class IE IO,<br> 1.009%, 03/25/2050 | &nbsp;&nbsp;2594000 | 161349 |
| &nbsp;&nbsp;&nbsp;Series 2021-M8, Class X IO,<br> 0.255%, 11/25/2035 | 10280157 | 227500 |
| &nbsp;&nbsp;&nbsp;Series 2022-22, Class B,<br> 2.000%, 07/25/2054 | &nbsp;&nbsp;1007717 | 623956 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1M1 (1 month SOFR + 2.100%),<br> 6.028%, 03/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;298962 | 296883 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M1 (1 month SOFR + 2.000%),<br> 5.928%, 03/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;128186 | 127732 |
| &nbsp;&nbsp;&nbsp;Series 427, Class C20 IO,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;1991740 | 230048 |
| &nbsp;&nbsp;&nbsp;Series 427, Class C77 IO,<br> 2.500%, 09/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp;946865 | 142525 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2008-90, Class IO,<br> 2.010%, 12/16/2050 | &nbsp;&nbsp;2041284 | 257921 |
| &nbsp;&nbsp;&nbsp;Series 2010-147, Class SA IO,<br> 1.817%, 05/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;318561 | &nbsp;&nbsp;&nbsp;&nbsp;8746 |
| &nbsp;&nbsp;&nbsp;Series 2010-85, Class SB IO,<br> 2.274%, 03/16/2040 | &nbsp;&nbsp;&nbsp;&nbsp;667331 | &nbsp;&nbsp;&nbsp;32532 |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.611%, 01/16/2053 | &nbsp;&nbsp;&nbsp;&nbsp;279191 | &nbsp;&nbsp;&nbsp;&nbsp;4297 |
| &nbsp;&nbsp;&nbsp;Series 2012-120, Class IO,<br> 0.640%, 02/16/2053 | &nbsp;&nbsp;3630503 | &nbsp;&nbsp;&nbsp;57901 |
| &nbsp;&nbsp;&nbsp;Series 2012-70, Class IO,<br> 0.093%, 08/16/2052 | &nbsp;&nbsp;&nbsp;&nbsp;270238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 |
| &nbsp;&nbsp;&nbsp;Series 2015-41, Class IO,<br> 0.276%, 09/16/2056 | &nbsp;&nbsp;2112297 | &nbsp;&nbsp;&nbsp;27974 |
| &nbsp;&nbsp;&nbsp;Series 2015-86, Class IO,<br> 0.419%, 05/16/2052 | 22317453 | 403575 |
| &nbsp;&nbsp;&nbsp;Series 2016-162, Class IO,<br> 0.677%, 09/16/2058 | &nbsp;&nbsp;3496141 | 111674 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.877%, 11/16/2056 | &nbsp;&nbsp;&nbsp;&nbsp;329739 | &nbsp;&nbsp;&nbsp;13612 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.271%, 04/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;697519 | &nbsp;&nbsp;&nbsp;14411 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.620%, 01/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;641744 | &nbsp;&nbsp;&nbsp;19678 |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.721%, 10/16/2058 | &nbsp;&nbsp;1002422 | &nbsp;&nbsp;&nbsp;41471 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.486%, 02/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;391972 | &nbsp;&nbsp;&nbsp;13271 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.434%, 06/16/2059 | &nbsp;&nbsp;9630410 | 320825 |
| &nbsp;&nbsp;&nbsp;Series 2017-169, Class IO,<br> 0.588%, 01/16/2060 | &nbsp;&nbsp;1904079 | &nbsp;&nbsp;&nbsp;65531 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.532%, 12/16/2058 | &nbsp;&nbsp;1416313 | &nbsp;&nbsp;&nbsp;37542 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.795%, 12/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;199078 | &nbsp;&nbsp;&nbsp;&nbsp;7784 |
| &nbsp;&nbsp;&nbsp;Series 2017-23, Class IO,<br> 0.609%, 05/16/2059 | &nbsp;&nbsp;5963794 | 206700 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.601%, 07/16/2058 | &nbsp;&nbsp;&nbsp;&nbsp;533274 | &nbsp;&nbsp;&nbsp;15411 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 15 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.696%, 11/16/2057 | $&nbsp;&nbsp;&nbsp;&nbsp;648532 | $&nbsp;&nbsp;&nbsp;24643 |
| &nbsp;&nbsp;&nbsp;Series 2017-50, Class IO,<br> 0.636%, 01/16/2057 | &nbsp;&nbsp;8744116 | 305609 |
| &nbsp;&nbsp;&nbsp;Series 2017-53, Class IO,<br> 0.532%, 11/16/2056 | &nbsp;&nbsp;9014030 | 298311 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.746%, 05/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;325369 | &nbsp;&nbsp;&nbsp;12459 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.770%, 05/16/2061 | &nbsp;&nbsp;1651941 | &nbsp;&nbsp;&nbsp;83943 |
| &nbsp;&nbsp;&nbsp;Series 2018-35, Class IO,<br> 0.529%, 03/16/2060 | &nbsp;&nbsp;1542369 | &nbsp;&nbsp;&nbsp;58118 |
| &nbsp;&nbsp;&nbsp;Series 2018-43, Class IO,<br> 0.439%, 05/16/2060 | &nbsp;&nbsp;1323740 | &nbsp;&nbsp;&nbsp;45045 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.610%, 04/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp;387123 | &nbsp;&nbsp;&nbsp;18063 |
| &nbsp;&nbsp;&nbsp;Series 2018-81, Class IO,<br> 0.475%, 01/16/2060 | &nbsp;&nbsp;&nbsp;&nbsp;282982 | &nbsp;&nbsp;&nbsp;11429 |
| &nbsp;&nbsp;&nbsp;Series 2018-85, Class IO,<br> 0.548%, 07/16/2060 | &nbsp;&nbsp;5436726 | 230788 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.442%, 01/16/2060 | &nbsp;&nbsp;1646334 | &nbsp;&nbsp;&nbsp;51621 |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.802%, 07/16/2061 | &nbsp;&nbsp;1260470 | &nbsp;&nbsp;&nbsp;70301 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.782%, 05/16/2062 | &nbsp;&nbsp;1469731 | &nbsp;&nbsp;&nbsp;87745 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | &nbsp;&nbsp;3214059 | 194035 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.800%, 09/16/2062 | &nbsp;&nbsp;3515710 | 217091 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.885%, 06/16/2062 | &nbsp;&nbsp;2477530 | 156261 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.601%, 08/16/2062 | &nbsp;&nbsp;1415960 | &nbsp;&nbsp;&nbsp;72479 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.760%, 05/16/2062 | &nbsp;&nbsp;&nbsp;&nbsp;804592 | &nbsp;&nbsp;&nbsp;47662 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.794%, 09/16/2062 | &nbsp;&nbsp;3692178 | 212920 |
| &nbsp;&nbsp;&nbsp;Series 2020-143, Class IB IO,<br> 0.873%, 03/16/2062 | &nbsp;&nbsp;4368728 | 265462 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.961%, 12/16/2062 | &nbsp;&nbsp;2254267 | 160868 |
| &nbsp;&nbsp;&nbsp;Series 2020-161, Class IA IO,<br> 0.500%, 08/16/2062 | 17075624 | 443382 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.833%, 11/16/2062 | &nbsp;&nbsp;2973470 | 191293 |
| &nbsp;&nbsp;&nbsp;Series 2020-28, Class IO,<br> 0.820%, 11/16/2061 | &nbsp;&nbsp;5422038 | 318404 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.877%, 02/16/2062 | &nbsp;&nbsp;3384080 | 223722 |
| &nbsp;&nbsp;&nbsp;Series 2021-11, Class IA IO,<br> 0.250%, 12/16/2062 | 22209152 | 294023 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.867%, 09/16/2062 | &nbsp;&nbsp;3735169 | 245356 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.824%, 02/16/2063 | &nbsp;&nbsp;&nbsp;&nbsp;930153 | &nbsp;&nbsp;&nbsp;60506 |
| &nbsp;&nbsp;&nbsp;Series 2022-106, Class IO,<br> 0.697%, 02/16/2064 | &nbsp;&nbsp;5741896 | 355088 |
| &nbsp;&nbsp;&nbsp;Series 2022-150, Class IO,<br> 0.824%, 06/16/2064 | &nbsp;&nbsp;&nbsp;&nbsp;308949 | &nbsp;&nbsp;&nbsp;21042 |
| &nbsp;&nbsp;&nbsp;Series 2022-17, Class IO,<br> 0.802%, 06/16/2064 | &nbsp;&nbsp;2035970 | 137206 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.715%, 07/16/2064 | 950390 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71238 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.783%, 10/16/2063 | 892432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58347 |
|  |  | 14540835 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $63,290,505) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $63,290,505) | $51233727 |
| **ASSET BACKED SECURITIES – 6.6%** | **ASSET BACKED SECURITIES – 6.6%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/20/2030 (E) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;113835 |
| Aegis Asset Backed Securities Trust<br> Series 2004-3, Class M1 (1 month LIBOR + 0.900%)<br> 5.289%, 09/25/2034 (C) | 373094 | &nbsp;&nbsp;&nbsp;&nbsp;366584 |
| Aligned Data Centers Issuer LLC<br> Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (E) | 992000 | &nbsp;&nbsp;&nbsp;&nbsp;847263 |
| American Tower Trust I<br> Series 2018-1, Class A<br> 3.652%, 03/23/2028 (E) | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;284927 |
| Amresco Residential Securities Corp. Mortgage Loan Trust<br> Series 1998-1, Class A6<br> 6.510%, 08/25/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR4, Class A<br> 1.355%, 11/17/2037 (E) | 153000 | &nbsp;&nbsp;&nbsp;&nbsp;136913 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR4, Class A<br> 2.117%, 12/17/2038 (E) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90560 |
| Applebee's Funding LLC<br> Series 2019-1A, Class A2I<br> 4.194%, 06/05/2049 (E) | 400950 | &nbsp;&nbsp;&nbsp;&nbsp;393969 |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (E) | 150635 | &nbsp;&nbsp;&nbsp;&nbsp;137727 |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (E) | 464313 | &nbsp;&nbsp;&nbsp;&nbsp;392421 |
| Avis Budget Rental Car Funding<br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3A, Class A<br> 2.360%, 03/20/2026 (E) | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;390898 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.330%, 08/20/2026 (E) | 333000 | &nbsp;&nbsp;&nbsp;&nbsp;308142 |
| Beacon Container Finance II LLC<br> Series 2021-1A, Class A<br> 2.250%, 10/22/2046 (E) | 441667 | &nbsp;&nbsp;&nbsp;&nbsp;374207 |
| BMW Vehicle Lease Trust<br> Series 2022-1, Class A3<br> 1.100%, 03/25/2025 | 173000 | &nbsp;&nbsp;&nbsp;&nbsp;167367 |
| BRE Grand Islander Timeshare Issuer LLC<br> Series 2019-A, Class A<br> 3.280%, 09/26/2033 (E) | 121189 | &nbsp;&nbsp;&nbsp;&nbsp;113818 |
| Carlyle Global Market Strategies<br> Series 2018-4A, Class C (3 month LIBOR + 2.900%)<br> 7.143%, 01/20/2031 (C)(E) | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;482676 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 16 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 1.470%, 12/15/2026 | $&nbsp;&nbsp;236000 | $&nbsp;&nbsp;&nbsp;&nbsp;223863 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A3<br> 5.340%, 08/16/2027 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;373564 |
| CARS-DB4 LP |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A1<br> 2.690%, 02/15/2050 (E) | &nbsp;&nbsp;893145 | &nbsp;&nbsp;&nbsp;&nbsp;832481 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A4<br> 3.190%, 02/15/2050 (E) | &nbsp;&nbsp;992292 | &nbsp;&nbsp;&nbsp;&nbsp;927122 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class B1<br> 4.170%, 02/15/2050 (E) | &nbsp;&nbsp;266000 | &nbsp;&nbsp;&nbsp;&nbsp;242512 |
| Centex Home Equity Loan Trust<br> Series 2005-A, Class M4 (1 month LIBOR + 1.200%)<br> 5.589%, 01/25/2035 (C) | &nbsp;&nbsp;156736 | &nbsp;&nbsp;&nbsp;&nbsp;145675 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (E) | &nbsp;&nbsp;487758 | &nbsp;&nbsp;&nbsp;&nbsp;435369 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (E) | &nbsp;&nbsp;460633 | &nbsp;&nbsp;&nbsp;&nbsp;398300 |
| Chase Auto Credit Linked Notes<br> Series 2021-3, Class B<br> 0.760%, 02/26/2029 (E) | &nbsp;&nbsp;158977 | &nbsp;&nbsp;&nbsp;&nbsp;149840 |
| Citibank Credit Card Issuance Trust<br> Series 2017-A6, Class A6 (1 month LIBOR + 0.770%)<br> 5.062%, 05/14/2029 (C) | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;554445 |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (E) | &nbsp;&nbsp;549401 | &nbsp;&nbsp;&nbsp;&nbsp;475638 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (E) | &nbsp;&nbsp;384493 | &nbsp;&nbsp;&nbsp;&nbsp;327847 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (E) | &nbsp;&nbsp;294721 | &nbsp;&nbsp;&nbsp;&nbsp;250262 |
| ContiMortgage Home Equity Loan Trust<br> Series 1995-2, Class A5<br> 8.100%, 08/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;5576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4684 |
| Credit-Based Asset Servicing & Securitization LLC<br> Series 2006-MH1, Class B1<br> 6.250%, 10/25/2036 (E) | 2138445 | 2021924 |
| DataBank Issuer<br> Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (E) | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;194884 |
| DB Master Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (E) | &nbsp;&nbsp;189548 | &nbsp;&nbsp;&nbsp;&nbsp;172296 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.045%, 11/20/2051 (E) | &nbsp;&nbsp;681120 | &nbsp;&nbsp;&nbsp;&nbsp;581384 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2II<br> 2.493%, 11/20/2051 (E) | &nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;813708 |
| Diamond Infrastructure Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class B<br> 2.355%, 04/15/2049 (E) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;816090 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class C<br> 3.475%, 04/15/2049 (E) | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;286436 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A23<br> 4.118%, 07/25/2047 (E) | &nbsp;&nbsp;452438 | &nbsp;&nbsp;&nbsp;&nbsp;414625 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (E) | 1318915 | 1096918 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (E) | &nbsp;&nbsp;271170 | &nbsp;&nbsp;&nbsp;&nbsp;224209 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Driven Brands Funding LLC (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (E) | $428670 | $339957 |
| Elmwood CLO IV, Ltd.<br> Series 2020-1A, Class A (3 month LIBOR + 1.240%)<br> 5.319%, 04/15/2033 (C)(E) | 331000 | 325602 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class A<br> 1.339%, 08/17/2037 (E) | 587496 | 525008 |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR2, Class A<br> 1.266%, 10/19/2037 (E) | 339186 | 300542 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class A<br> 1.538%, 08/17/2038 (E) | 255206 | 221313 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class D<br> 2.189%, 08/17/2038 (E) | 346000 | 290452 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class A<br> 4.250%, 07/17/2026 (E) | 500000 | 471685 |
| Five Guys Funding LLC<br> Series 2017-1A, Class A2<br> 4.600%, 07/25/2047 (E) | 669525 | 626716 |
| Ford Credit Auto Owner Trust<br> Series 2022-A, Class A3<br> 1.290%, 06/15/2026 | 129000 | 122669 |
| Ford Credit Floorplan Master Owner Trust<br> Series 2019-2, Class A<br> 3.060%, 04/15/2026 | 621000 | 602280 |
| GM Financial Automobile Leasing Trust<br> Series 2021-2, Class A4<br> 0.410%, 05/20/2025 | 125000 | 120917 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A3<br> 0.680%, 09/16/2026 | 135000 | 127548 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 1.260%, 11/16/2026 | 112000 | 105883 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (E) | 274000 | 250157 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (E) | 335000 | 302923 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (E) | 292000 | 261560 |
| Hilton Grand Vacations Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-AA, Class A<br> 2.660%, 12/26/2028 (E) | &nbsp;&nbsp;96310 | &nbsp;&nbsp;&nbsp;94796 |
| &nbsp;&nbsp;&nbsp;Series 2018-AA, Class A<br> 3.540%, 02/25/2032 (E) | &nbsp;&nbsp;73175 | &nbsp;&nbsp;&nbsp;70722 |
| Home Partners of America Trust<br> Series 2021-2, Class A<br> 1.901%, 12/17/2026 (E) | 147457 | 127363 |
| Honda Auto Receivables Owner Trust<br> Series 2021-2, Class A4<br> 0.550%, 08/16/2027 | 247000 | 228244 |
| Hyundai Auto Lease Securitization Trust<br> Series 2022-A, Class A3<br> 1.160%, 01/15/2025 (E) | 207000 | 199768 |
| ITE Rail Fund Levered LP<br> Series 2021-3A, Class A<br> 2.210%, 06/28/2051 (E) | 466115 | 394330 |
| Jack in the Box Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A23<br> 4.970%, 08/25/2049 (E) | 116918 | 103282 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2I<br> 3.445%, 02/26/2052 (E) | 382180 | 331329 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 17 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Laurel Road Prime Student Loan Trust<br> Series 2019-A, Class A2FX<br> 2.730%, 10/25/2048 (E) | $&nbsp;&nbsp;26791 | $&nbsp;&nbsp;&nbsp;26029 |
| Mercedes-Benz Auto Receivables Trust<br> Series 2021-1, Class A3<br> 0.460%, 06/15/2026 | 275000 | 260974 |
| MetroNet Infrastructure Issuer LLC<br> Series 2022-1A, Class B<br> 7.460%, 10/20/2052 (E) | 400000 | 379596 |
| MVW Owner Trust<br> Series 2018-1A, Class A<br> 3.450%, 01/21/2036 (E) | 121050 | 117235 |
| Navient Private Education Loan Trust<br> Series 2016-AA, Class A2A<br> 3.910%, 12/15/2045 (E) | &nbsp;&nbsp;75838 | &nbsp;&nbsp;&nbsp;73378 |
| Navient Private Education Refi Loan Trust<br> Series 2019-FA, Class A2<br> 2.600%, 08/15/2068 (E) | 167052 | 154555 |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (E) | 205076 | 171842 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (E) | 618580 | 494962 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (E) | 253088 | 200606 |
| New Economy Assets Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (E) | 607000 | 512897 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (E) | 184000 | 151159 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (E) | &nbsp;&nbsp;93927 | &nbsp;&nbsp;&nbsp;81975 |
| Oxford Finance Funding LLC<br> Series 2019-1A, Class A2<br> 4.459%, 02/15/2027 (E) | &nbsp;&nbsp;84403 | &nbsp;&nbsp;&nbsp;83735 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class A<br> 1.732%, 04/17/2037 (E) | 208625 | 190207 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR8, Class B<br> 1.681%, 10/17/2038 (E) | 216000 | 178455 |
| Renaissance Home Equity Loan Trust<br> Series 2005-2, Class AF4<br> 4.934%, 08/25/2035 | &nbsp;&nbsp;54315 | &nbsp;&nbsp;&nbsp;52423 |
| Santander Retail Auto Lease Trust<br> Series 2022-A, Class A3<br> 1.340%, 07/21/2025 (E) | 188000 | 177860 |
| Santander Revolving Auto Loan Trust<br> Series 2019-A, Class A<br> 2.510%, 01/26/2032 (E) | 611000 | 575632 |
| Sesac Finance LLC<br> Series 2019-1, Class A2<br> 5.216%, 07/25/2049 (E) | 394740 | 364396 |
| Sierra Timeshare Receivables Funding LLC<br> Series 2019-1A, Class A<br> 3.200%, 01/20/2036 (E) | &nbsp;&nbsp;39344 | &nbsp;&nbsp;&nbsp;37820 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B, Class A2A<br> 2.840%, 06/15/2037 (E) | 234251 | 218977 |
| &nbsp;&nbsp;&nbsp;Series 2020-PTA, Class A2A<br> 1.600%, 09/15/2054 (E) | 267205 | 237367 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (E) | 200195 | 171659 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| SMB Private Education<br> Loan Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-E, Class A1A<br> 1.680%, 02/15/2051 (E) | $1089723 | $983166 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (E) | &nbsp;&nbsp;408247 | 361927 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (E) | &nbsp;&nbsp;325875 | 259470 |
| Store Master Funding I-VII & XIV<br> Series 2019-1, Class A2<br> 3.650%, 11/20/2049 (E) | &nbsp;&nbsp;286025 | 232023 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (E) | &nbsp;&nbsp;184215 | 146794 |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2I<br> 1.946%, 08/25/2051 (E) | &nbsp;&nbsp;662310 | 559667 |
| TAL Advantage VII LLC<br> Series 2020-1A, Class B<br> 3.290%, 09/20/2045 (E) | &nbsp;&nbsp;381875 | 331858 |
| TIF Funding II LLC<br> Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (E) | &nbsp;&nbsp;272467 | 225969 |
| Toyota Auto Loan Extended Note Trust<br> Series 2019-1A, Class A<br> 2.560%, 11/25/2031 (E) | &nbsp;&nbsp;868000 | 836542 |
| Toyota Auto Receivables Owner Trust<br> Series 2022-A, Class A3<br> 1.230%, 06/15/2026 | &nbsp;&nbsp;347000 | 329061 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class D<br> 2.281%, 11/17/2039 (E) | &nbsp;&nbsp;500000 | 411859 |
| Trimaran Cavu, Ltd.<br> Series 2019-1A, Class D (3 month LIBOR + 4.150%)<br> 8.393%, 07/20/2032 (C)(E) | &nbsp;&nbsp;400000 | 367420 |
| Trinity Rail Leasing LLC<br> Series 2021-1A, Class A<br> 2.260%, 07/19/2051 (E) | &nbsp;&nbsp;377336 | 312112 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (E) | &nbsp;&nbsp;536201 | 458752 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (E) | &nbsp;&nbsp;373699 | 311577 |
| Vantage Data Centers Issuer LLC<br> Series 2021-1A, Class A2<br> 2.165%, 10/15/2046 (E) | &nbsp;&nbsp;400000 | 343872 |
| Vantage Data Centers LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 1.645%, 09/15/2045 (E) | &nbsp;&nbsp;343000 | 302500 |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (E) | &nbsp;&nbsp;312000 | 256316 |
| Verizon Master Trust<br> Series 2022-2, Class A<br> 1.530%, 07/20/2028 | &nbsp;&nbsp;289000 | 270112 |
| VR Funding LLC<br> Series 2020-1A, Class A<br> 2.790%, 11/15/2050 (E) | &nbsp;&nbsp;360434 | 299762 |
| VSE VOI Mortgage LLC<br> Series 2017-A, Class A<br> 2.330%, 03/20/2035 (E) | &nbsp;&nbsp;116432 | 111413 |
| Wendy's Funding LLC<br> Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (E) | &nbsp;&nbsp;380210 | 306953 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 18 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Active Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (E) | &nbsp;&nbsp;136770 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105181 |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (E) | &nbsp;&nbsp;277488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223344 |
| TOTAL ASSET BACKED SECURITIES (Cost $40,431,155) |  | $&nbsp;&nbsp;36371819 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Energy – 0.0%** |  |  |
| Noble Corp. PLC (D) | &nbsp;&nbsp;&nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72328 |
| **Utilities – 0.0%** |  |  |
| Algonquin Power & Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;8150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194541 |
| TOTAL COMMON STOCKS (Cost $450,968) | TOTAL COMMON STOCKS (Cost $450,968) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266869 |
| **PREFERRED SECURITIES – 0.1%** |  |  |
| **Communication services – 0.0%** |  |  |
| Telephone & Data Systems, Inc., 6.625% | &nbsp;&nbsp;&nbsp;&nbsp;7625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112240 |
| **Financials – 0.0%** |  |  |
| Wells Fargo & Company, 7.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65175 |
| **Utilities – 0.1%** |  |  |
| NiSource, Inc., 7.750% | &nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185868 |
| TOTAL PREFERRED SECURITIES (Cost $441,919) | TOTAL PREFERRED SECURITIES (Cost $441,919) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363283 |
| **ESCROW CERTIFICATES – 0.0%** |  |  |
| LSC Communications, Inc. (D)(E) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 |
| TOTAL ESCROW CERTIFICATES (Cost $0) | TOTAL ESCROW CERTIFICATES (Cost $0) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 |
| **SHORT-TERM INVESTMENTS – 2.2%** | **SHORT-TERM INVESTMENTS – 2.2%** |  |
| **Short-term funds – 2.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (J)(K) | 1201218 | &nbsp;&nbsp;&nbsp;12007133 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $12,006,375) | TOTAL SHORT-TERM INVESTMENTS (Cost $12,006,375) | $&nbsp;&nbsp;&nbsp;12007133 |
| **Total Investments (Active Bond Trust)<br> (Cost $613,690,506) – 100.1%** | **Total Investments (Active Bond Trust)<br> (Cost $613,690,506) – 100.1%** | $**549160402** |
| **Other assets and liabilities, net – (0.1%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**(364349)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**548796053** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| ARS | Argentine Peso |
| EUR | Euro |
| GBP | Pound Sterling |
| MXN | Mexican Peso |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| GO | General Obligation |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |

---

(B) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end.

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

(D) Non-income producing security.

(E) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $115,581,203 or 21.1% of the fund's net assets as of 12-31-22.

(F) Non-income producing - Issuer is in default.

(G) All or a portion of this security is on loan as of 12-31-22.

(H) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.

(I) Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.

(J) The rate shown is the annualized seven-day yield as of 12-31-22.

(K) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $197,536.

\* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

#### Core Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 56.9%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 56.9%** |  |
| **U.S. Government – 28.2%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 05/15/2040 to 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28185000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17566885 |
| &nbsp;&nbsp;&nbsp;1.375%, 11/15/2040 to 08/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29676000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19062790 |
| &nbsp;&nbsp;&nbsp;1.625%, 11/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302455 |
| &nbsp;&nbsp;&nbsp;1.750%, 08/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26163000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17904281 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2041 to 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209438 |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5417000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3546865 |
| &nbsp;&nbsp;&nbsp;2.250%, 02/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335178 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701014 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3866000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185222 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774988 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5523000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5530767 |
| &nbsp;&nbsp;&nbsp;5.250%, 11/15/2028 to 02/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543636 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 08/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6822000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134470 |
| &nbsp;&nbsp;&nbsp;0.375%, 11/30/2025 to 01/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9534385 |
| &nbsp;&nbsp;&nbsp;0.750%, 05/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4394968 |
| &nbsp;&nbsp;&nbsp;1.375%, 10/31/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6627000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5720188 |
| &nbsp;&nbsp;&nbsp;1.500%, 08/15/2026 to 11/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18003000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16387565 |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6984000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6427735 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708452 |
| &nbsp;&nbsp;&nbsp;2.250%, 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303711 |
| &nbsp;&nbsp;&nbsp;2.375%, 08/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231262 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1719948 |
| &nbsp;&nbsp;&nbsp;2.625%, 07/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591167 |
| &nbsp;&nbsp;&nbsp;2.750%, 02/15/2028 to 05/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7933000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7446263 |
| &nbsp;&nbsp;&nbsp;2.875%, 04/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2757932 |
| &nbsp;&nbsp;&nbsp;3.000%, 06/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487051 |
| &nbsp;&nbsp;&nbsp;3.125%, 08/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2267000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2152145 |
| &nbsp;&nbsp;&nbsp;3.250%, 06/30/2027 to 06/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332105 |
| &nbsp;&nbsp;&nbsp;3.875%, 11/30/2027 to 11/30/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20143000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20027363 |
| &nbsp;&nbsp;&nbsp;4.000%, 12/15/2025 to 10/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11055000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10989305 |
| &nbsp;&nbsp;&nbsp;4.125%, 09/30/2027 to 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29296719 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225495 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 19 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Notes (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 11/30/2024 to 11/15/2025 | $&nbsp;&nbsp;5757000 | $&nbsp;&nbsp;&nbsp;&nbsp;5762467 |
|  |  | 221294215 |
| **U.S. Government Agency – 28.7%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/01/2040 to 12/01/2051 | 14725041 | &nbsp;&nbsp;&nbsp;12419839 |
| &nbsp;&nbsp;&nbsp;2.305%, (12 month LIBOR + 1.650%), 03/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;127162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129434 |
| &nbsp;&nbsp;&nbsp;2.317%, (12 month LIBOR + 1.642%), 08/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;86490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85858 |
| &nbsp;&nbsp;&nbsp;2.357%, (12 month LIBOR + 1.635%), 07/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;56033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56224 |
| &nbsp;&nbsp;&nbsp;2.447%, (12 month LIBOR + 1.637%), 09/01/2045 (A) | &nbsp;&nbsp;1064961 | &nbsp;&nbsp;&nbsp;&nbsp;1066252 |
| &nbsp;&nbsp;&nbsp;2.500%, 04/01/2042 to 03/01/2052 | &nbsp;&nbsp;6774539 | &nbsp;&nbsp;&nbsp;&nbsp;5822226 |
| &nbsp;&nbsp;&nbsp;2.509%, (12 month LIBOR + 1.632%), 11/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;92281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92231 |
| &nbsp;&nbsp;&nbsp;2.542%, (12 month LIBOR + 1.646%), 10/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;178590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179185 |
| &nbsp;&nbsp;&nbsp;2.556%, (12 month LIBOR + 1.606%), 09/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;44092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43780 |
| &nbsp;&nbsp;&nbsp;2.703%, (12 month LIBOR + 1.611%), 10/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;105296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104968 |
| &nbsp;&nbsp;&nbsp;2.814%, (12 month LIBOR + 1.640%), 05/01/2049 (A) | &nbsp;&nbsp;&nbsp;&nbsp;315368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307280 |
| &nbsp;&nbsp;&nbsp;2.874%, (12 month LIBOR + 1.723%), 01/01/2044 (A) | &nbsp;&nbsp;&nbsp;&nbsp;192749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190317 |
| &nbsp;&nbsp;&nbsp;3.000%, 09/01/2046 to 11/01/2048 | &nbsp;&nbsp;1209572 | &nbsp;&nbsp;&nbsp;&nbsp;1089335 |
| &nbsp;&nbsp;&nbsp;3.314%, (12 month LIBOR + 1.687%), 09/01/2047 (A) | &nbsp;&nbsp;&nbsp;&nbsp;545255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547127 |
| &nbsp;&nbsp;&nbsp;3.457%, (12 month LIBOR + 1.638%), 03/01/2049 (A) | &nbsp;&nbsp;&nbsp;&nbsp;490725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488539 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2046 to 10/01/2046 | &nbsp;&nbsp;&nbsp;&nbsp;769814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717328 |
| &nbsp;&nbsp;&nbsp;3.574%, (1 month SOFR + 2.183%), 10/01/2052 (A) | &nbsp;&nbsp;3417293 | &nbsp;&nbsp;&nbsp;&nbsp;3278425 |
| &nbsp;&nbsp;&nbsp;3.722%, (12 month LIBOR + 1.635%), 04/01/2048 (A) | &nbsp;&nbsp;1109465 | &nbsp;&nbsp;&nbsp;&nbsp;1106577 |
| &nbsp;&nbsp;&nbsp;3.888%, (1 month SOFR + 2.241%), 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;530795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513297 |
| &nbsp;&nbsp;&nbsp;3.912%, (1 month SOFR + 2.130%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;405690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390118 |
| &nbsp;&nbsp;&nbsp;3.989%, (1 month SOFR + 2.140%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;538766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512352 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/01/2049 | &nbsp;&nbsp;1408851 | &nbsp;&nbsp;&nbsp;&nbsp;1359552 |
| &nbsp;&nbsp;&nbsp;4.119%, (1 month SOFR + 2.380%), 09/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;277672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268577 |
| &nbsp;&nbsp;&nbsp;4.148%, 12/14/2029 (B) | &nbsp;&nbsp;1179000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885063 |
| &nbsp;&nbsp;&nbsp;4.301%, (1 month SOFR + 2.130%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;485303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472424 |
| &nbsp;&nbsp;&nbsp;4.486%, (12 month LIBOR + 1.686%), 02/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;126124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126753 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2039 to 07/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;90774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89656 |
| &nbsp;&nbsp;&nbsp;5.497%, (12 month LIBOR + 1.770%), 09/01/2042 (A) | &nbsp;&nbsp;&nbsp;&nbsp;73424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74427 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 10/01/2041 to 11/01/2041 | 10150173 | &nbsp;&nbsp;&nbsp;&nbsp;8243184 |
| &nbsp;&nbsp;&nbsp;1.615%, (1 month SOFR + 2.211%), 12/01/2051 (A) | &nbsp;&nbsp;&nbsp;&nbsp;261531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235014 |
| &nbsp;&nbsp;&nbsp;1.900%, 01/25/2036 | &nbsp;&nbsp;1322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943804 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/01/2040 to 12/01/2050 | 41295974 | &nbsp;&nbsp;&nbsp;34721953 |
| &nbsp;&nbsp;&nbsp;2.259%, (12 month LIBOR + 1.560%), 06/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;71905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71059 |
| &nbsp;&nbsp;&nbsp;2.442%, (12 month LIBOR + 1.565%), 03/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;34460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34455 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 12/01/2035 to 03/01/2052 | $23152521 | $&nbsp;&nbsp;&nbsp;20300089 |
| &nbsp;&nbsp;&nbsp;2.934%, (12 month LIBOR + 1.583%), 01/01/2046 (A) | &nbsp;&nbsp;&nbsp;&nbsp;779666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784056 |
| &nbsp;&nbsp;&nbsp;3.000%, 11/01/2042 to 07/01/2060 | 39797434 | &nbsp;&nbsp;&nbsp;35853634 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/01/2043 to 11/01/2046 (C) | &nbsp;&nbsp;4354912 | &nbsp;&nbsp;&nbsp;&nbsp;3914376 |
| &nbsp;&nbsp;&nbsp;3.147%, (12 month LIBOR + 1.579%), 10/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;248547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247111 |
| &nbsp;&nbsp;&nbsp;3.404%, (12 month LIBOR + 1.579%), 06/01/2045 (A) | &nbsp;&nbsp;&nbsp;&nbsp;285581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287105 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/01/2042 to 04/01/2050 | 17813606 | &nbsp;&nbsp;&nbsp;16552351 |
| &nbsp;&nbsp;&nbsp;3.684%, (1 month SOFR + 2.370%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;600797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575145 |
| &nbsp;&nbsp;&nbsp;3.963%, (1 month SOFR + 2.120%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;236557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225395 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/01/2027 to 08/01/2059 | 14408756 | &nbsp;&nbsp;&nbsp;14039199 |
| &nbsp;&nbsp;&nbsp;4.155%, (1 month SOFR + 2.132%), 10/01/2052 (A) | &nbsp;&nbsp;2044342 | &nbsp;&nbsp;&nbsp;&nbsp;1998277 |
| &nbsp;&nbsp;&nbsp;4.168%, (1 month SOFR + 2.120%), 07/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;930776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893958 |
| &nbsp;&nbsp;&nbsp;4.224%, (1 month SOFR + 2.370%), 09/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;276822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269488 |
| &nbsp;&nbsp;&nbsp;4.229%, 11/15/2030 (B) | &nbsp;&nbsp;3465000 | &nbsp;&nbsp;&nbsp;&nbsp;2488827 |
| &nbsp;&nbsp;&nbsp;4.250%, (1 month SOFR + 2.127%), 11/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;722029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707515 |
| &nbsp;&nbsp;&nbsp;4.317%, (1 month SOFR + 2.125%), 08/01/2052 (A) | &nbsp;&nbsp;1075359 | &nbsp;&nbsp;&nbsp;&nbsp;1050586 |
| &nbsp;&nbsp;&nbsp;4.352%, (1 month SOFR + 2.124%), 07/01/2052 (A) | &nbsp;&nbsp;1034268 | &nbsp;&nbsp;&nbsp;&nbsp;1011703 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2041 to 11/01/2048 | &nbsp;&nbsp;2376942 | &nbsp;&nbsp;&nbsp;&nbsp;2354875 |
| &nbsp;&nbsp;&nbsp;4.532%, (1 month SOFR + 2.120%), 11/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;469882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464219 |
| &nbsp;&nbsp;&nbsp;4.622%, (1 month SOFR + 2.127%), 08/01/2052 (A) | &nbsp;&nbsp;1196033 | &nbsp;&nbsp;&nbsp;&nbsp;1179106 |
| &nbsp;&nbsp;&nbsp;4.645%, (1 month SOFR + 2.122%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;882480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863101 |
| &nbsp;&nbsp;&nbsp;4.651%, (1 month SOFR + 2.131%), 08/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;942932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930479 |
| &nbsp;&nbsp;&nbsp;4.663%, (1 month SOFR + 2.122%), 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743777 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/01/2044 | &nbsp;&nbsp;&nbsp;&nbsp;55258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56123 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;790189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815152 |
| &nbsp;&nbsp;&nbsp;6.000%, TBA (C) | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;1624751 |
| &nbsp;&nbsp;&nbsp;6.119%, (12 month LIBOR + 1.639%), 01/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;57488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58725 |
| &nbsp;&nbsp;&nbsp;6.500%, TBA (C) | 14900000 | &nbsp;&nbsp;&nbsp;15250334 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/01/2052 to 12/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;670477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711217 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (C) | &nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;2512105 |
| &nbsp;&nbsp;&nbsp;2.500%, 12/20/2051 | &nbsp;&nbsp;2928018 | &nbsp;&nbsp;&nbsp;&nbsp;2539785 |
| &nbsp;&nbsp;&nbsp;3.000%, 06/20/2043 to 10/20/2050 | &nbsp;&nbsp;8255000 | &nbsp;&nbsp;&nbsp;&nbsp;7408081 |
| &nbsp;&nbsp;&nbsp;3.500%, 01/20/2048 | &nbsp;&nbsp;&nbsp;&nbsp;486725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450954 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (C) | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946672 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/20/2047 to 04/20/2048 | &nbsp;&nbsp;3763746 | &nbsp;&nbsp;&nbsp;&nbsp;3613972 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2047 to 02/20/2049 | &nbsp;&nbsp;1088803 | &nbsp;&nbsp;&nbsp;&nbsp;1069544 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/20/2039 to 03/20/2049 | &nbsp;&nbsp;4029489 | &nbsp;&nbsp;&nbsp;&nbsp;4055956 |
|  |  | 225514356 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $483,429,215) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $483,429,215) | $446808571 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 20 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.8%** |  |
| **Australia – 0.1%** |  |  |
| Export Finance & Insurance Corp.<br> 4.625%, 10/26/2027 (D) | $1045000 | $1055566 |
| **Bermuda – 0.0%** |  |  |
| Government of Bermuda<br> 5.000%, 07/15/2032 (D) | &nbsp;&nbsp;311000 | &nbsp;&nbsp;&nbsp;&nbsp;308871 |
| **Canada – 0.1%** |  |  |
| Province of Saskatchewan<br> 3.250%, 06/08/2027 | &nbsp;&nbsp;422000 | &nbsp;&nbsp;&nbsp;&nbsp;402299 |
| **Chile – 0.0%** |  |  |
| Republic of Chile<br> 4.340%, 03/07/2042 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;202774 |
| **Italy – 0.0%** |  |  |
| Republic of Italy<br> 3.875%, 05/06/2051 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;134500 |
| **Mexico – 0.4%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/12/2034 | &nbsp;&nbsp;736000 | &nbsp;&nbsp;&nbsp;&nbsp;588998 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/19/2071 | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;427462 |
| &nbsp;&nbsp;&nbsp;3.771%, 05/24/2061 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;289241 |
| &nbsp;&nbsp;&nbsp;4.400%, 02/12/2052 | &nbsp;&nbsp;783000 | &nbsp;&nbsp;&nbsp;&nbsp;575636 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/22/2029 | &nbsp;&nbsp;711000 | &nbsp;&nbsp;&nbsp;&nbsp;678007 |
| &nbsp;&nbsp;&nbsp;4.600%, 02/10/2048 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;154235 |
| &nbsp;&nbsp;&nbsp;4.875%, 05/19/2033 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;215716 |
|  |  | 2929295 |
| **Paraguay – 0.1%** |  |  |
| Republic of Paraguay<br> 5.400%, 03/30/2050 (D) | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;469624 |
| **Peru – 0.0%** |  |  |
| Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 01/15/2034 | &nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;166195 |
| &nbsp;&nbsp;&nbsp;3.600%, 01/15/2072 | &nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;105837 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;272032 |
| **Poland – 0.1%** |  |  |
| Republic of Poland<br> 5.750%, 11/16/2032 | &nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;643784 |
| **South Korea – 0.0%** |  |  |
| Export-Import Bank of Korea<br> 4.500%, 09/15/2032 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;365495 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $7,520,560) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $7,520,560) | $6784240 |
| **CORPORATE BONDS – 23.8%** | **CORPORATE BONDS – 23.8%** |  |
| **Communication services – 1.6%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.700%, 03/25/2026 | 1383000 | 1246355 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;297000 | &nbsp;&nbsp;&nbsp;&nbsp;221483 |
| &nbsp;&nbsp;&nbsp;3.650%, 09/15/2059 | &nbsp;&nbsp;291000 | &nbsp;&nbsp;&nbsp;&nbsp;194775 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | &nbsp;&nbsp;836000 | &nbsp;&nbsp;&nbsp;&nbsp;576784 |
| Charter Communications Operating LLC<br> 3.500%, 06/01/2041 to 03/01/2042 | &nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;604056 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 02/15/2031 | &nbsp;&nbsp;363000 | &nbsp;&nbsp;&nbsp;&nbsp;282632 |
| &nbsp;&nbsp;&nbsp;2.987%, 11/01/2063 | &nbsp;&nbsp;348000 | &nbsp;&nbsp;&nbsp;&nbsp;210421 |
| &nbsp;&nbsp;&nbsp;4.049%, 11/01/2052 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;237428 |
| &nbsp;&nbsp;&nbsp;5.350%, 11/15/2027 | &nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;624001 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2032 | 1221000 | 1273128 |
| Discovery Communications LLC<br> 4.000%, 09/15/2055 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;195283 |
| Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 11/15/2029 (D) | &nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;317190 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/15/2028 | &nbsp;&nbsp;531000 | &nbsp;&nbsp;&nbsp;&nbsp;538184 |
| Rogers Communications, Inc.<br> 4.550%, 03/15/2052 (D) | &nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;267474 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 02/15/2026 | $1259000 | $&nbsp;&nbsp;&nbsp;1145238 |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;127000 | &nbsp;&nbsp;&nbsp;&nbsp;104944 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/15/2029 | 1472000 | &nbsp;&nbsp;&nbsp;1296493 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72559 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.355%, 03/15/2032 | &nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;248908 |
| &nbsp;&nbsp;&nbsp;2.550%, 03/21/2031 | &nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;359371 |
| &nbsp;&nbsp;&nbsp;2.650%, 11/20/2040 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;263244 |
| &nbsp;&nbsp;&nbsp;3.550%, 03/22/2051 | &nbsp;&nbsp;278000 | &nbsp;&nbsp;&nbsp;&nbsp;198034 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 09/17/2050 | &nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83883 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/30/2038 | &nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;127912 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 (D) | &nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp;467465 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 (D) | 1407000 | &nbsp;&nbsp;&nbsp;1022842 |
| &nbsp;&nbsp;&nbsp;5.391%, 03/15/2062 (D) | &nbsp;&nbsp;694000 | &nbsp;&nbsp;&nbsp;&nbsp;506630 |
|  |  | 12686717 |
| **Consumer discretionary – 1.1%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 05/12/2041 | &nbsp;&nbsp;194000 | &nbsp;&nbsp;&nbsp;&nbsp;144726 |
| &nbsp;&nbsp;&nbsp;4.700%, 12/01/2032 | &nbsp;&nbsp;759000 | &nbsp;&nbsp;&nbsp;&nbsp;751278 |
| Ford Motor Company<br> 4.750%, 01/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42350 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 08/10/2026 | &nbsp;&nbsp;513000 | &nbsp;&nbsp;&nbsp;&nbsp;445489 |
| &nbsp;&nbsp;&nbsp;2.900%, 02/10/2029 | &nbsp;&nbsp;551000 | &nbsp;&nbsp;&nbsp;&nbsp;440117 |
| General Motors Company |  |  |
| &nbsp;&nbsp;&nbsp;5.400%, 10/15/2029 | &nbsp;&nbsp;729000 | &nbsp;&nbsp;&nbsp;&nbsp;695683 |
| &nbsp;&nbsp;&nbsp;5.600%, 10/15/2032 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;139349 |
| General Motors Financial Company, Inc.<br> 3.100%, 01/12/2032 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;234279 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;0.800%, 01/08/2024 (D) | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;233071 |
| &nbsp;&nbsp;&nbsp;1.300%, 01/08/2026 (D) | &nbsp;&nbsp;587000 | &nbsp;&nbsp;&nbsp;&nbsp;513375 |
| &nbsp;&nbsp;&nbsp;2.000%, 06/15/2028 (D) | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;224815 |
| Lowe's Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2052 | &nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp;462204 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/15/2053 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;837633 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2049 | &nbsp;&nbsp;452000 | &nbsp;&nbsp;&nbsp;&nbsp;340012 |
| &nbsp;&nbsp;&nbsp;4.200%, 04/01/2050 | &nbsp;&nbsp;668000 | &nbsp;&nbsp;&nbsp;&nbsp;555769 |
| &nbsp;&nbsp;&nbsp;5.150%, 09/09/2052 | &nbsp;&nbsp;292000 | &nbsp;&nbsp;&nbsp;&nbsp;279972 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 03/15/2051 | &nbsp;&nbsp;444000 | &nbsp;&nbsp;&nbsp;&nbsp;264875 |
| &nbsp;&nbsp;&nbsp;3.125%, 12/15/2049 | &nbsp;&nbsp;539000 | &nbsp;&nbsp;&nbsp;&nbsp;381638 |
| &nbsp;&nbsp;&nbsp;3.300%, 04/15/2040 | &nbsp;&nbsp;116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92359 |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2052 | &nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;213050 |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2032 | &nbsp;&nbsp;887000 | &nbsp;&nbsp;&nbsp;&nbsp;866068 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/15/2052 | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;583583 |
| Toyota Motor Credit Corp.<br> 5.450%, 11/10/2027 | &nbsp;&nbsp;179000 | &nbsp;&nbsp;&nbsp;&nbsp;183010 |
|  |  | &nbsp;&nbsp;&nbsp;8924705 |
| **Consumer staples – 1.1%** |  |  |
| Anheuser-Busch Companies LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.700%, 02/01/2036 | &nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;741388 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/01/2046 | 1523000 | &nbsp;&nbsp;&nbsp;1384522 |
| Anheuser-Busch InBev Worldwide, Inc.<br> 4.375%, 04/15/2038 | &nbsp;&nbsp;824000 | &nbsp;&nbsp;&nbsp;&nbsp;736582 |
| Bunge, Ltd. Finance Corp.<br> 1.630%, 08/17/2025 | &nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;290491 |
| Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 10/24/2027 | &nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;781445 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/24/2033 | &nbsp;&nbsp;792000 | &nbsp;&nbsp;&nbsp;&nbsp;828637 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 21 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer staples (continued)** |  |  |
| Nestle Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 10/01/2027 (D) | $&nbsp;&nbsp;449000 | $&nbsp;&nbsp;&nbsp;&nbsp;438432 |
| &nbsp;&nbsp;&nbsp;4.700%, 01/15/2053 (D) | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;286849 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 11/17/2025 | &nbsp;&nbsp;657000 | &nbsp;&nbsp;&nbsp;&nbsp;659952 |
| &nbsp;&nbsp;&nbsp;5.125%, 11/17/2027 | &nbsp;&nbsp;984000 | &nbsp;&nbsp;&nbsp;&nbsp;991187 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/17/2032 | &nbsp;&nbsp;493000 | &nbsp;&nbsp;&nbsp;&nbsp;502577 |
| Viterra Finance BV<br> 5.250%, 04/21/2032 (D) | &nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;&nbsp;668448 |
| Walmart, Inc.<br> 4.500%, 09/09/2052 | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;416617 |
|  |  | &nbsp;&nbsp;&nbsp;8727127 |
| **Energy – 1.5%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 07/15/2026 (D) | &nbsp;&nbsp;743000 | &nbsp;&nbsp;&nbsp;&nbsp;656300 |
| &nbsp;&nbsp;&nbsp;3.100%, 07/15/2031 (D) | &nbsp;&nbsp;882000 | &nbsp;&nbsp;&nbsp;&nbsp;723349 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (D) | &nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;305863 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 03/15/2027 | &nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp;130140 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2028 | 1024000 | &nbsp;&nbsp;&nbsp;&nbsp;982161 |
| &nbsp;&nbsp;&nbsp;5.300%, 04/15/2047 | &nbsp;&nbsp;801000 | &nbsp;&nbsp;&nbsp;&nbsp;666423 |
| &nbsp;&nbsp;&nbsp;5.400%, 10/01/2047 | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;199906 |
| &nbsp;&nbsp;&nbsp;5.750%, 02/15/2033 | 1124000 | &nbsp;&nbsp;&nbsp;1099677 |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2045 | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;229460 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.452%, 04/15/2051 | &nbsp;&nbsp;778000 | &nbsp;&nbsp;&nbsp;&nbsp;585704 |
| &nbsp;&nbsp;&nbsp;4.327%, 03/19/2050 | 1024000 | &nbsp;&nbsp;&nbsp;&nbsp;896767 |
| Galaxy Pipeline Assets Bidco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 09/30/2027 (D) | &nbsp;&nbsp;612240 | &nbsp;&nbsp;&nbsp;&nbsp;566387 |
| &nbsp;&nbsp;&nbsp;2.160%, 03/31/2034 (D) | &nbsp;&nbsp;678700 | &nbsp;&nbsp;&nbsp;&nbsp;576632 |
| &nbsp;&nbsp;&nbsp;2.625%, 03/31/2036 (D) | &nbsp;&nbsp;459000 | &nbsp;&nbsp;&nbsp;&nbsp;369405 |
| &nbsp;&nbsp;&nbsp;2.940%, 09/30/2040 (D) | &nbsp;&nbsp;261930 | &nbsp;&nbsp;&nbsp;&nbsp;210303 |
| Kinder Morgan, Inc.<br> 5.450%, 08/01/2052 | &nbsp;&nbsp;903000 | &nbsp;&nbsp;&nbsp;&nbsp;810514 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;2.378%, 04/15/2025 | &nbsp;&nbsp;343750 | &nbsp;&nbsp;&nbsp;&nbsp;332188 |
| &nbsp;&nbsp;&nbsp;2.460%, 12/15/2025 | &nbsp;&nbsp;972300 | &nbsp;&nbsp;&nbsp;&nbsp;928511 |
| Pioneer Natural Resources Company<br> 2.150%, 01/15/2031 | &nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;327226 |
| Targa Resources Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 02/01/2031 | &nbsp;&nbsp;653000 | &nbsp;&nbsp;&nbsp;&nbsp;589626 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/01/2030 | &nbsp;&nbsp;163000 | &nbsp;&nbsp;&nbsp;&nbsp;153370 |
|  |  | 11339912 |
| **Financials – 7.5%** |  |  |
| Antares Holdings LP<br> 3.750%, 07/15/2027 (D) | &nbsp;&nbsp;866000 | &nbsp;&nbsp;&nbsp;&nbsp;700072 |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/24/2028 (D) | &nbsp;&nbsp;972000 | &nbsp;&nbsp;&nbsp;&nbsp;809939 |
| &nbsp;&nbsp;&nbsp;2.646%, 10/04/2031 (D) | &nbsp;&nbsp;916000 | &nbsp;&nbsp;&nbsp;&nbsp;699782 |
| Banco Santander SA<br> 3.225%, (3.225% to 11-22-31, then 1 Year CMT + 1.600%), 11/22/2032 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;302043 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.530%, (1.530% to 12-6-24, then SOFR + 0.650%), 12/06/2025 | 2578000 | &nbsp;&nbsp;&nbsp;2377691 |
| &nbsp;&nbsp;&nbsp;1.658%, (1.658% to 3-11-26, then SOFR + 0.910%), 03/11/2027 | 2204000 | &nbsp;&nbsp;&nbsp;1949887 |
| &nbsp;&nbsp;&nbsp;1.734%, (1.734% to 7-22-26, then SOFR + 0.960%), 07/22/2027 | 1997000 | &nbsp;&nbsp;&nbsp;1749604 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 2125000 | &nbsp;&nbsp;&nbsp;1700816 |
| &nbsp;&nbsp;&nbsp;3.419%, (3.419% to 12-20-27, then 3 month LIBOR + 1.040%), 12/20/2028 | 1539000 | &nbsp;&nbsp;&nbsp;1393610 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Bank of America Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.015%, (5.015% to 7-22-32, then SOFR + 2.160%), 07/22/2033 | $&nbsp;&nbsp;643000 | $&nbsp;&nbsp;&nbsp;&nbsp;610459 |
| &nbsp;&nbsp;&nbsp;6.204%, (6.204% to 11-10-27, then SOFR + 1.990%), 11/10/2028 | 1505000 | 1553870 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;7.385%, (7.385% to 11-2-27, then 1 Year CMT + 3.300%), 11/02/2028 | 1536000 | 1601016 |
| &nbsp;&nbsp;&nbsp;7.437%, (7.437% to 11-2-32, then 1 Year CMT + 3.500%), 11/02/2033 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;963977 |
| Blackstone Holdings Finance Company LLC<br> 6.200%, 04/22/2033 (D) | &nbsp;&nbsp;917000 | &nbsp;&nbsp;&nbsp;&nbsp;924342 |
| Brighthouse Financial, Inc.<br> 3.850%, 12/22/2051 | &nbsp;&nbsp;274000 | &nbsp;&nbsp;&nbsp;&nbsp;172959 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.910%, (4.910% to 5-24-32, then SOFR + 2.086%), 05/24/2033 | &nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;735100 |
| &nbsp;&nbsp;&nbsp;6.270%, (6.270% to 11-17-32, then SOFR + 2.338%), 11/17/2033 | 1519000 | 1567064 |
| Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;3.649%, (3.649% to 4-6-27, then 1 Year CMT + 1.220%), 04/06/2028 (D) | 1591000 | 1465823 |
| &nbsp;&nbsp;&nbsp;3.758%, (3.758% to 4-6-32, then 1 Year CMT + 1.420%), 04/06/2033 (D) | 1069000 | &nbsp;&nbsp;&nbsp;&nbsp;910663 |
| Credit Suisse Group AG<br> 9.016%, (9.016% to 11-15-32, then SOFR + 5.020%), 11/15/2033 (D) | &nbsp;&nbsp;774000 | &nbsp;&nbsp;&nbsp;&nbsp;792473 |
| Deutsche Bank AG<br> 3.742%, (3.742% to 10-7-31, then SOFR + 2.257%), 01/07/2033 | 1222000 | &nbsp;&nbsp;&nbsp;&nbsp;867835 |
| Enstar Group, Ltd.<br> 3.100%, 09/01/2031 | &nbsp;&nbsp;699000 | &nbsp;&nbsp;&nbsp;&nbsp;510434 |
| HSBC Holdings PLC<br> 7.390%, (7.390% to 11-3-27, then SOFR + 3.350%), 11/03/2028 | &nbsp;&nbsp;904000 | &nbsp;&nbsp;&nbsp;&nbsp;950059 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.040%, (1.040% to 2-4-26, then 3 month CME Term SOFR + 0.695%), 02/04/2027 | 2779000 | 2417365 |
| &nbsp;&nbsp;&nbsp;1.045%, (1.045% to 11-19-25, then SOFR + 0.800%), 11/19/2026 | &nbsp;&nbsp;861000 | &nbsp;&nbsp;&nbsp;&nbsp;759433 |
| &nbsp;&nbsp;&nbsp;1.470%, (1.470% to 9-22-26, then SOFR + 0.765%), 09/22/2027 | &nbsp;&nbsp;692000 | &nbsp;&nbsp;&nbsp;&nbsp;599108 |
| &nbsp;&nbsp;&nbsp;1.561%, (1.561% to 12-10-24, then SOFR + 0.605%), 12/10/2025 | 4066000 | 3764399 |
| &nbsp;&nbsp;&nbsp;1.578%, (1.578% to 4-22-26, then SOFR + 0.885%), 04/22/2027 | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;604520 |
| &nbsp;&nbsp;&nbsp;2.182%, (2.182% to 6-1-27, then SOFR + 1.890%), 06/01/2028 | &nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;744974 |
| &nbsp;&nbsp;&nbsp;4.323%, (4.323% to 4-26-27, then SOFR + 1.560%), 04/26/2028 | &nbsp;&nbsp;453000 | &nbsp;&nbsp;&nbsp;&nbsp;432609 |
| &nbsp;&nbsp;&nbsp;4.565%, (4.565% to 6-14-29, then SOFR + 1.750%), 06/14/2030 | &nbsp;&nbsp;703000 | &nbsp;&nbsp;&nbsp;&nbsp;661428 |
| &nbsp;&nbsp;&nbsp;4.912%, (4.912% to 7-25-32, then SOFR + 2.080%), 07/25/2033 | &nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;554138 |
| Liberty Mutual Group, Inc.<br> 5.500%, 06/15/2052 (D) | &nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;241349 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.716%, (4.716% to 8-11-25, then 1 Year CMT + 1.750%), 08/11/2026 | 1177000 | 1151616 |
| &nbsp;&nbsp;&nbsp;4.976%, (4.976% to 8-11-32, then 1 Year CMT + 2.300%), 08/11/2033 | &nbsp;&nbsp;683000 | &nbsp;&nbsp;&nbsp;&nbsp;627124 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 22 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Marsh & McLennan Companies, Inc.<br> 6.250%, 11/01/2052 | $&nbsp;&nbsp;153000 | $&nbsp;&nbsp;&nbsp;&nbsp;169668 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.309%, (2.309% to 7-20-31, then 1 Year CMT + 0.950%), 07/20/2032 | &nbsp;&nbsp;577000 | &nbsp;&nbsp;&nbsp;&nbsp;444062 |
| &nbsp;&nbsp;&nbsp;5.133%, (5.133% to 7-20-32, then 1 Year CMT + 2.125%), 07/20/2033 | &nbsp;&nbsp;387000 | &nbsp;&nbsp;&nbsp;&nbsp;369516 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;0.790%, (0.790% to 5-30-24, then SOFR + 0.525%), 05/30/2025 | 1790000 | &nbsp;&nbsp;&nbsp;1664152 |
| &nbsp;&nbsp;&nbsp;0.791%, (0.791% to 1-22-24, then SOFR + 0.509%), 01/22/2025 | 1772000 | &nbsp;&nbsp;&nbsp;1676399 |
| &nbsp;&nbsp;&nbsp;0.864%, (0.864% to 10-21-24, then SOFR + 0.745%), 10/21/2025 | &nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;139456 |
| &nbsp;&nbsp;&nbsp;0.985%, (0.985% to 12-10-25, then SOFR + 0.720%), 12/10/2026 | 1413000 | &nbsp;&nbsp;&nbsp;1238093 |
| &nbsp;&nbsp;&nbsp;1.512%, (1.512% to 7-20-26, then SOFR + 0.858%), 07/20/2027 | 1081000 | &nbsp;&nbsp;&nbsp;&nbsp;938079 |
| &nbsp;&nbsp;&nbsp;6.342%, (6.342% to 10-18-32, then SOFR + 2.560%), 10/18/2033 | 1517000 | &nbsp;&nbsp;&nbsp;1589520 |
| Owl Rock Capital Corp. III<br> 3.125%, 04/13/2027 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;311167 |
| Santander UK Group Holdings PLC<br> 6.833%, (6.833% to 11-21-25, then SOFR + 2.749%), 11/21/2026 | 1215000 | &nbsp;&nbsp;&nbsp;1230699 |
| SBL Holdings, Inc.<br> 5.000%, 02/18/2031 (D) | &nbsp;&nbsp;962000 | &nbsp;&nbsp;&nbsp;&nbsp;756535 |
| Stewart Information Services Corp.<br> 3.600%, 11/15/2031 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;287373 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.657%, (0.657% to 9-10-23, then SOFR + 0.505%), 09/10/2024 | 1391000 | &nbsp;&nbsp;&nbsp;1338193 |
| &nbsp;&nbsp;&nbsp;0.925%, (0.925% to 10-21-23, then SOFR + 0.486%), 10/21/2024 | 2065000 | &nbsp;&nbsp;&nbsp;1978270 |
| &nbsp;&nbsp;&nbsp;1.948%, (1.948% to 10-21-26, then SOFR + 0.913%), 10/21/2027 | &nbsp;&nbsp;688000 | &nbsp;&nbsp;&nbsp;&nbsp;601577 |
| The PNC Financial Services Group, Inc.<br> 6.037%, (6.037% to 10-28-32, then SOFR + 2.140%), 10/28/2033 | &nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;952606 |
| Truist Financial Corp.<br> 6.123%, (6.123% to 10-28-32, then SOFR + 2.300%), 10/28/2033 | &nbsp;&nbsp;429000 | &nbsp;&nbsp;&nbsp;&nbsp;451352 |
| Trust Fibra Uno<br> 6.390%, 01/15/2050 (D) | &nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;287352 |
| UBS Group AG<br> 4.703%, (4.703% to 8-5-26, then 1 Year CMT + 2.050%), 08/05/2027 (D) | 1448000 | &nbsp;&nbsp;&nbsp;1399474 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.526%, (3.526% to 3-24-27, then SOFR + 1.510%), 03/24/2028 | 2901000 | &nbsp;&nbsp;&nbsp;2686329 |
| &nbsp;&nbsp;&nbsp;4.808%, (4.808% to 7-25-27, then SOFR + 1.980%), 07/25/2028 | &nbsp;&nbsp;303000 | &nbsp;&nbsp;&nbsp;&nbsp;295939 |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then SOFR + 2.100%), 07/25/2033 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;413047 |
|  |  | 59086439 |
| **Health care – 2.4%** |  |  |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 11/21/2039 | &nbsp;&nbsp;329000 | &nbsp;&nbsp;&nbsp;&nbsp;281607 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/21/2049 | 1877000 | &nbsp;&nbsp;&nbsp;1557694 |
| &nbsp;&nbsp;&nbsp;4.300%, 05/14/2036 | &nbsp;&nbsp;201000 | &nbsp;&nbsp;&nbsp;&nbsp;180994 |
| &nbsp;&nbsp;&nbsp;4.450%, 05/14/2046 | &nbsp;&nbsp;204000 | &nbsp;&nbsp;&nbsp;&nbsp;175324 |
| Astrazeneca Finance LLC<br> 1.750%, 05/28/2028 | &nbsp;&nbsp;963000 | &nbsp;&nbsp;&nbsp;&nbsp;826588 |
| AstraZeneca PLC<br> 1.375%, 08/06/2030 | &nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp;221997 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | $&nbsp;&nbsp;259000 | $&nbsp;&nbsp;&nbsp;&nbsp;202661 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | &nbsp;&nbsp;624000 | &nbsp;&nbsp;&nbsp;&nbsp;511524 |
| Cigna Corp.<br> 3.400%, 03/15/2050 | &nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90718 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2026 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;279281 |
| &nbsp;&nbsp;&nbsp;4.875%, 07/20/2035 | &nbsp;&nbsp;&nbsp;&nbsp;91000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86420 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;666000 | &nbsp;&nbsp;&nbsp;&nbsp;597765 |
| Danaher Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 10/01/2050 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;210447 |
| &nbsp;&nbsp;&nbsp;2.800%, 12/10/2051 | &nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;146028 |
| DH Europe Finance II Sarl<br> 2.200%, 11/15/2024 | &nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;&nbsp;725088 |
| Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 10/01/2040 | &nbsp;&nbsp;481000 | &nbsp;&nbsp;&nbsp;&nbsp;335589 |
| &nbsp;&nbsp;&nbsp;2.800%, 10/01/2050 | &nbsp;&nbsp;449000 | &nbsp;&nbsp;&nbsp;&nbsp;287061 |
| &nbsp;&nbsp;&nbsp;4.000%, 09/01/2036 | &nbsp;&nbsp;248000 | &nbsp;&nbsp;&nbsp;&nbsp;218602 |
| GSK Consumer Healthcare Capital<br> US LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 03/24/2027 to 03/24/2029 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;829073 |
| &nbsp;&nbsp;&nbsp;3.625%, 03/24/2032 | 1040000 | &nbsp;&nbsp;&nbsp;&nbsp;912993 |
| HCA, Inc.<br> 4.625%, 03/15/2052 (D) | 1423000 | &nbsp;&nbsp;&nbsp;1107515 |
| Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 08/18/2031 | &nbsp;&nbsp;561000 | &nbsp;&nbsp;&nbsp;&nbsp;450343 |
| &nbsp;&nbsp;&nbsp;2.550%, 05/28/2040 | &nbsp;&nbsp;964000 | &nbsp;&nbsp;&nbsp;&nbsp;697047 |
| Roche Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.076%, 12/13/2031 (D) | &nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;801362 |
| &nbsp;&nbsp;&nbsp;2.607%, 12/13/2051 (D) | &nbsp;&nbsp;401000 | &nbsp;&nbsp;&nbsp;&nbsp;259682 |
| Shire Acquisitions Investments Ireland DAC<br> 2.875%, 09/23/2023 | &nbsp;&nbsp;228000 | &nbsp;&nbsp;&nbsp;&nbsp;224064 |
| Takeda Pharmaceutical Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.050%, 03/31/2030 | &nbsp;&nbsp;777000 | &nbsp;&nbsp;&nbsp;&nbsp;634226 |
| &nbsp;&nbsp;&nbsp;3.025%, 07/09/2040 | &nbsp;&nbsp;354000 | &nbsp;&nbsp;&nbsp;&nbsp;259785 |
| &nbsp;&nbsp;&nbsp;3.175%, 07/09/2050 | &nbsp;&nbsp;363000 | &nbsp;&nbsp;&nbsp;&nbsp;244821 |
| &nbsp;&nbsp;&nbsp;4.400%, 11/26/2023 | &nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp;191450 |
| Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 10/15/2028 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;237132 |
| &nbsp;&nbsp;&nbsp;2.800%, 10/15/2041 | &nbsp;&nbsp;446000 | &nbsp;&nbsp;&nbsp;&nbsp;328237 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2040 | &nbsp;&nbsp;212000 | &nbsp;&nbsp;&nbsp;&nbsp;153803 |
| &nbsp;&nbsp;&nbsp;3.050%, 05/15/2041 | &nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp;109708 |
| &nbsp;&nbsp;&nbsp;3.250%, 05/15/2051 | &nbsp;&nbsp;616000 | &nbsp;&nbsp;&nbsp;&nbsp;440771 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/15/2029 | &nbsp;&nbsp;427000 | &nbsp;&nbsp;&nbsp;&nbsp;407784 |
| &nbsp;&nbsp;&nbsp;4.625%, 07/15/2035 | &nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;423665 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/15/2028 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;475337 |
| &nbsp;&nbsp;&nbsp;5.300%, 02/15/2030 | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;798592 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;799558 |
| &nbsp;&nbsp;&nbsp;5.875%, 02/15/2053 | &nbsp;&nbsp;739000 | &nbsp;&nbsp;&nbsp;&nbsp;797946 |
|  |  | 18520282 |
| **Industrials – 2.2%** |  |  |
| Adani International Container Terminal Private, Ltd.<br> 3.000%, 02/16/2031 (D) | &nbsp;&nbsp;264375 | &nbsp;&nbsp;&nbsp;&nbsp;206936 |
| AerCap Ireland Capital DAC<br> 1.150%, 10/29/2023 | 1680000 | &nbsp;&nbsp;&nbsp;1616471 |
| Canadian National Railway Company |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 08/05/2032 | &nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;406027 |
| &nbsp;&nbsp;&nbsp;4.400%, 08/05/2052 | &nbsp;&nbsp;291000 | &nbsp;&nbsp;&nbsp;&nbsp;258435 |
| Canadian Pacific Railway Company |  |  |
| &nbsp;&nbsp;&nbsp;1.350%, 12/02/2024 | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;642218 |
| &nbsp;&nbsp;&nbsp;1.750%, 12/02/2026 | &nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp;119412 |
| &nbsp;&nbsp;&nbsp;2.450%, 12/02/2031 | &nbsp;&nbsp;111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91931 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 23 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Canadian Pacific<br> Railway Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 12/02/2041 | $&nbsp;&nbsp;136000 | $&nbsp;&nbsp;&nbsp;&nbsp;102530 |
| Crowley Conro LLC<br> 4.181%, 08/15/2043 | &nbsp;&nbsp;475865 | &nbsp;&nbsp;&nbsp;&nbsp;443813 |
| CSX Corp.<br> 4.100%, 11/15/2032 | &nbsp;&nbsp;727000 | &nbsp;&nbsp;&nbsp;&nbsp;681559 |
| Delta Air Lines, Inc.<br> 4.750%, 10/20/2028 (D) | 1634000 | &nbsp;&nbsp;&nbsp;1535916 |
| Honeywell International, Inc.<br> 5.000%, 02/15/2033 | &nbsp;&nbsp;931000 | &nbsp;&nbsp;&nbsp;&nbsp;948261 |
| John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 03/08/2027 | &nbsp;&nbsp;693000 | &nbsp;&nbsp;&nbsp;&nbsp;630582 |
| &nbsp;&nbsp;&nbsp;4.150%, 09/15/2027 | 1458000 | &nbsp;&nbsp;&nbsp;1429889 |
| &nbsp;&nbsp;&nbsp;4.850%, 10/11/2029 | &nbsp;&nbsp;509000 | &nbsp;&nbsp;&nbsp;&nbsp;509495 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 11/15/2027 | &nbsp;&nbsp;774000 | &nbsp;&nbsp;&nbsp;&nbsp;791057 |
| &nbsp;&nbsp;&nbsp;5.700%, 11/15/2054 | &nbsp;&nbsp;619000 | &nbsp;&nbsp;&nbsp;&nbsp;648564 |
| &nbsp;&nbsp;&nbsp;5.900%, 11/15/2063 | &nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;331738 |
| Northrop Grumman Corp.<br> 4.400%, 05/01/2030 | &nbsp;&nbsp;991000 | &nbsp;&nbsp;&nbsp;&nbsp;950952 |
| Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 09/15/2027 | &nbsp;&nbsp;844000 | &nbsp;&nbsp;&nbsp;&nbsp;818844 |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2029 | &nbsp;&nbsp;563000 | &nbsp;&nbsp;&nbsp;&nbsp;539494 |
| Quanta Services, Inc.<br> 0.950%, 10/01/2024 | &nbsp;&nbsp;553000 | &nbsp;&nbsp;&nbsp;&nbsp;509268 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.196%, 02/04/2026 | 1052000 | &nbsp;&nbsp;&nbsp;&nbsp;955808 |
| &nbsp;&nbsp;&nbsp;3.250%, 02/01/2035 | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;259330 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | &nbsp;&nbsp;608000 | &nbsp;&nbsp;&nbsp;&nbsp;417428 |
| &nbsp;&nbsp;&nbsp;5.930%, 05/01/2060 | &nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;718735 |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 05/20/2031 | &nbsp;&nbsp;294000 | &nbsp;&nbsp;&nbsp;&nbsp;247520 |
| &nbsp;&nbsp;&nbsp;2.800%, 02/14/2032 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;345315 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/14/2042 | &nbsp;&nbsp;332000 | &nbsp;&nbsp;&nbsp;&nbsp;263885 |
|  |  | 17421413 |
| **Information technology – 2.2%** |  |  |
| Advanced Micro Devices, Inc.<br> 3.924%, 06/01/2032 | &nbsp;&nbsp;894000 | &nbsp;&nbsp;&nbsp;&nbsp;830642 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/08/2041 | &nbsp;&nbsp;226000 | &nbsp;&nbsp;&nbsp;&nbsp;159714 |
| &nbsp;&nbsp;&nbsp;2.400%, 08/20/2050 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21769 |
| &nbsp;&nbsp;&nbsp;2.650%, 05/11/2050 to 02/08/2051 | &nbsp;&nbsp;618000 | &nbsp;&nbsp;&nbsp;&nbsp;408465 |
| &nbsp;&nbsp;&nbsp;2.800%, 02/08/2061 | &nbsp;&nbsp;197000 | &nbsp;&nbsp;&nbsp;&nbsp;124633 |
| &nbsp;&nbsp;&nbsp;3.250%, 08/08/2029 | 1165000 | &nbsp;&nbsp;&nbsp;1076854 |
| &nbsp;&nbsp;&nbsp;3.950%, 08/08/2052 | &nbsp;&nbsp;584000 | &nbsp;&nbsp;&nbsp;&nbsp;496222 |
| &nbsp;&nbsp;&nbsp;4.100%, 08/08/2062 | &nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;363240 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 02/15/2031 (D) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;381995 |
| &nbsp;&nbsp;&nbsp;3.150%, 11/15/2025 | &nbsp;&nbsp;363000 | &nbsp;&nbsp;&nbsp;&nbsp;343845 |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (D) | 1318000 | &nbsp;&nbsp;&nbsp;1056651 |
| &nbsp;&nbsp;&nbsp;3.469%, 04/15/2034 (D) | &nbsp;&nbsp;619000 | &nbsp;&nbsp;&nbsp;&nbsp;493796 |
| &nbsp;&nbsp;&nbsp;4.150%, 11/15/2030 | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;293938 |
| &nbsp;&nbsp;&nbsp;4.150%, 04/15/2032 (D) | &nbsp;&nbsp;417000 | &nbsp;&nbsp;&nbsp;&nbsp;366067 |
| &nbsp;&nbsp;&nbsp;4.926%, 05/15/2037 (D) | &nbsp;&nbsp;443000 | &nbsp;&nbsp;&nbsp;&nbsp;386458 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 12/15/2041 (D) | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;461442 |
| &nbsp;&nbsp;&nbsp;3.450%, 12/15/2051 (D) | &nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp;108325 |
| &nbsp;&nbsp;&nbsp;6.100%, 07/15/2027 | &nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp;288686 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 08/12/2041 | &nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;506224 |
| &nbsp;&nbsp;&nbsp;4.900%, 08/05/2052 | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;592719 |
| &nbsp;&nbsp;&nbsp;5.050%, 08/05/2062 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;254407 |
| KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 03/01/2050 | &nbsp;&nbsp;254000 | &nbsp;&nbsp;&nbsp;&nbsp;183933 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| KLA Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 07/15/2052 | $&nbsp;&nbsp;258000 | $&nbsp;&nbsp;&nbsp;&nbsp;239619 |
| NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;2.650%, 02/15/2032 | &nbsp;&nbsp;573000 | &nbsp;&nbsp;&nbsp;&nbsp;448455 |
| &nbsp;&nbsp;&nbsp;3.250%, 05/11/2041 | &nbsp;&nbsp;304000 | &nbsp;&nbsp;&nbsp;&nbsp;212113 |
| &nbsp;&nbsp;&nbsp;3.400%, 05/01/2030 | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;332696 |
| &nbsp;&nbsp;&nbsp;4.400%, 06/01/2027 | &nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;322020 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 03/25/2051 | &nbsp;&nbsp;586000 | &nbsp;&nbsp;&nbsp;&nbsp;417489 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2046 | &nbsp;&nbsp;538000 | &nbsp;&nbsp;&nbsp;&nbsp;392061 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2055 | &nbsp;&nbsp;187000 | &nbsp;&nbsp;&nbsp;&nbsp;141326 |
| &nbsp;&nbsp;&nbsp;6.900%, 11/09/2052 | &nbsp;&nbsp;619000 | &nbsp;&nbsp;&nbsp;&nbsp;662221 |
| Qualcomm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 05/20/2052 | &nbsp;&nbsp;457000 | &nbsp;&nbsp;&nbsp;&nbsp;400225 |
| &nbsp;&nbsp;&nbsp;6.000%, 05/20/2053 | &nbsp;&nbsp;698000 | &nbsp;&nbsp;&nbsp;&nbsp;741325 |
| VMware, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.600%, 08/15/2023 | 1355000 | &nbsp;&nbsp;&nbsp;1319600 |
| &nbsp;&nbsp;&nbsp;1.000%, 08/15/2024 | &nbsp;&nbsp;962000 | &nbsp;&nbsp;&nbsp;&nbsp;895138 |
| &nbsp;&nbsp;&nbsp;1.400%, 08/15/2026 | &nbsp;&nbsp;898000 | &nbsp;&nbsp;&nbsp;&nbsp;782846 |
| &nbsp;&nbsp;&nbsp;4.700%, 05/15/2030 | &nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;518130 |
| Xilinx, Inc.<br> 2.375%, 06/01/2030 | &nbsp;&nbsp;237000 | &nbsp;&nbsp;&nbsp;&nbsp;199283 |
|  |  | 17224572 |
| **Materials – 0.5%** |  |  |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 03/16/2029 (D) | &nbsp;&nbsp;841000 | &nbsp;&nbsp;&nbsp;&nbsp;755038 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/16/2052 (D) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;390225 |
| Freeport-McMoRan, Inc.<br> 5.250%, 09/01/2029 | &nbsp;&nbsp;864000 | &nbsp;&nbsp;&nbsp;&nbsp;833587 |
| Glencore Finance Canada, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.000%, 11/15/2041 (D) | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33892 |
| &nbsp;&nbsp;&nbsp;6.900%, 11/15/2037 (D) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;336727 |
| Glencore Funding LLC<br> 4.875%, 03/12/2029 (D) | &nbsp;&nbsp;246000 | &nbsp;&nbsp;&nbsp;&nbsp;235771 |
| Rohm and Haas Company<br> 7.850%, 07/15/2029 | &nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;406500 |
| The Dow Chemical Company |  |  |
| &nbsp;&nbsp;&nbsp;6.900%, 05/15/2053 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;314880 |
| &nbsp;&nbsp;&nbsp;7.375%, 11/01/2029 | &nbsp;&nbsp;703000 | &nbsp;&nbsp;&nbsp;&nbsp;780990 |
|  |  | &nbsp;&nbsp;&nbsp;4087610 |
| **Real estate – 1.7%** |  |  |
| Agree LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 06/15/2028 | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;474922 |
| &nbsp;&nbsp;&nbsp;2.600%, 06/15/2033 | &nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp;100105 |
| &nbsp;&nbsp;&nbsp;4.800%, 10/01/2032 | &nbsp;&nbsp;291000 | &nbsp;&nbsp;&nbsp;&nbsp;269213 |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2032 | &nbsp;&nbsp;534000 | &nbsp;&nbsp;&nbsp;&nbsp;449182 |
| &nbsp;&nbsp;&nbsp;4.300%, 04/15/2052 | &nbsp;&nbsp;239000 | &nbsp;&nbsp;&nbsp;&nbsp;175169 |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2031 | &nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp;179884 |
| &nbsp;&nbsp;&nbsp;3.125%, 01/15/2027 | &nbsp;&nbsp;291000 | &nbsp;&nbsp;&nbsp;&nbsp;266623 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/15/2027 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;382932 |
| Brixmor Operating Partnership LP<br> 2.500%, 08/16/2031 | &nbsp;&nbsp;323000 | &nbsp;&nbsp;&nbsp;&nbsp;247044 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.050%, 07/15/2026 | &nbsp;&nbsp;832000 | &nbsp;&nbsp;&nbsp;&nbsp;718851 |
| &nbsp;&nbsp;&nbsp;2.100%, 04/01/2031 | &nbsp;&nbsp;122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96154 |
| &nbsp;&nbsp;&nbsp;2.900%, 03/15/2027 to 04/01/2041 | 1417000 | &nbsp;&nbsp;&nbsp;1174348 |
| &nbsp;&nbsp;&nbsp;3.300%, 07/01/2030 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;419901 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2027 | &nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp;132557 |
| Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;1.700%, 03/01/2028 | &nbsp;&nbsp;699000 | &nbsp;&nbsp;&nbsp;&nbsp;581867 |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;217137 |
| Extra Space Storage LP<br> 2.350%, 03/15/2032 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;181609 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 24 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Federal Realty Investment Trust<br> 3.950%, 01/15/2024 | $369000 | $&nbsp;&nbsp;&nbsp;&nbsp;364198 |
| GLP Capital LP<br> 5.300%, 01/15/2029 | 269000 | &nbsp;&nbsp;&nbsp;&nbsp;254565 |
| Invitation Homes Operating<br> Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 08/15/2031 | &nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67988 |
| &nbsp;&nbsp;&nbsp;4.150%, 04/15/2032 | 527000 | &nbsp;&nbsp;&nbsp;&nbsp;461065 |
| Kimco Realty Corp.<br> 4.600%, 02/01/2033 | 437000 | &nbsp;&nbsp;&nbsp;&nbsp;399643 |
| Mid-America Apartments LP |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 03/15/2029 | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;250604 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2025 | 328000 | &nbsp;&nbsp;&nbsp;&nbsp;318749 |
| &nbsp;&nbsp;&nbsp;4.300%, 10/15/2023 | 273000 | &nbsp;&nbsp;&nbsp;&nbsp;271387 |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.200%, 06/15/2028 | 286000 | &nbsp;&nbsp;&nbsp;&nbsp;244921 |
| &nbsp;&nbsp;&nbsp;2.850%, 12/15/2032 | 386000 | &nbsp;&nbsp;&nbsp;&nbsp;313031 |
| &nbsp;&nbsp;&nbsp;3.650%, 01/15/2028 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;279870 |
| &nbsp;&nbsp;&nbsp;5.625%, 10/13/2032 | 846000 | &nbsp;&nbsp;&nbsp;&nbsp;859221 |
| Regency Centers LP<br> 2.950%, 09/15/2029 | 731000 | &nbsp;&nbsp;&nbsp;&nbsp;613540 |
| Rexford Industrial Realty LP<br> 2.150%, 09/01/2031 | 144000 | &nbsp;&nbsp;&nbsp;&nbsp;110342 |
| STORE Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 12/01/2031 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;135815 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/18/2030 | 472000 | &nbsp;&nbsp;&nbsp;&nbsp;362254 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/15/2028 | 714000 | &nbsp;&nbsp;&nbsp;&nbsp;643956 |
| &nbsp;&nbsp;&nbsp;4.625%, 03/15/2029 | 341000 | &nbsp;&nbsp;&nbsp;&nbsp;305487 |
| Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/01/2028 | 267000 | &nbsp;&nbsp;&nbsp;&nbsp;222271 |
| &nbsp;&nbsp;&nbsp;4.200%, 04/15/2032 | 534000 | &nbsp;&nbsp;&nbsp;&nbsp;470311 |
|  |  | 13016716 |
| **Utilities – 2.0%** |  |  |
| American Transmission Systems, Inc.<br> 2.650%, 01/15/2032 (D) | 192000 | &nbsp;&nbsp;&nbsp;&nbsp;157567 |
| Baltimore Gas and Electric Company<br> 2.250%, 06/15/2031 | 414000 | &nbsp;&nbsp;&nbsp;&nbsp;335371 |
| CenterPoint Energy Houston Electric LLC<br> 3.600%, 03/01/2052 | 305000 | &nbsp;&nbsp;&nbsp;&nbsp;234172 |
| Consumers Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2060 | 237000 | &nbsp;&nbsp;&nbsp;&nbsp;132653 |
| &nbsp;&nbsp;&nbsp;2.650%, 08/15/2052 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;116323 |
| Dominion Energy, Inc.<br> 5.375%, 11/15/2032 | 912000 | &nbsp;&nbsp;&nbsp;&nbsp;903961 |
| DTE Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/01/2050 | 483000 | &nbsp;&nbsp;&nbsp;&nbsp;327514 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/01/2052 | 221000 | &nbsp;&nbsp;&nbsp;&nbsp;170762 |
| DTE Energy Company<br> 1.050%, 06/01/2025 | 248000 | &nbsp;&nbsp;&nbsp;&nbsp;224629 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 04/15/2031 | 281000 | &nbsp;&nbsp;&nbsp;&nbsp;234563 |
| &nbsp;&nbsp;&nbsp;2.850%, 03/15/2032 | 514000 | &nbsp;&nbsp;&nbsp;&nbsp;434805 |
| &nbsp;&nbsp;&nbsp;3.550%, 03/15/2052 | 374000 | &nbsp;&nbsp;&nbsp;&nbsp;279311 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | 303000 | &nbsp;&nbsp;&nbsp;&nbsp;246888 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/15/2051 | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59706 |
| &nbsp;&nbsp;&nbsp;3.750%, 09/01/2046 | &nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63809 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/15/2028 | 727000 | &nbsp;&nbsp;&nbsp;&nbsp;699537 |
| Duke Energy Florida LLC<br> 2.400%, 12/15/2031 | 412000 | &nbsp;&nbsp;&nbsp;&nbsp;336422 |
| Duke Energy Progress LLC<br> 2.500%, 08/15/2050 | 417000 | &nbsp;&nbsp;&nbsp;&nbsp;250214 |
| EDP Finance BV<br> 6.300%, 10/11/2027 (D) | 336000 | &nbsp;&nbsp;&nbsp;&nbsp;345091 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Entergy Arkansas LLC<br> 2.650%, 06/15/2051 | $372000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224299 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;1.400%, 08/15/2026 | 236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207099 |
| &nbsp;&nbsp;&nbsp;1.650%, 08/15/2030 | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365714 |
| &nbsp;&nbsp;&nbsp;3.375%, 03/01/2032 | 104000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90533 |
| Florida Power & Light Company<br> 3.950%, 03/01/2048 | 365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301231 |
| Israel Electric Corp., Ltd.<br> 3.750%, 02/22/2032 (D) | 278000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243164 |
| Jersey Central Power & Light Company<br> 2.750%, 03/01/2032 (D) | 454000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366621 |
| Metropolitan Edison Company<br> 4.300%, 01/15/2029 (D) | 486000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456156 |
| MidAmerican Energy Company<br> 2.700%, 08/01/2052 | 358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229211 |
| Mississippi Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 07/30/2051 | 496000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315604 |
| &nbsp;&nbsp;&nbsp;3.950%, 03/30/2028 | 496000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465123 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/15/2042 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154125 |
| Northern States Power Company<br> 3.200%, 04/01/2052 | 280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199071 |
| NSTAR Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 06/01/2051 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175090 |
| &nbsp;&nbsp;&nbsp;4.550%, 06/01/2052 | 336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302378 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/15/2052 | 147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142007 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 08/01/2027 | 221000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188741 |
| &nbsp;&nbsp;&nbsp;3.950%, 12/01/2047 | 619000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419689 |
| &nbsp;&nbsp;&nbsp;4.200%, 06/01/2041 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177653 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/01/2040 | 142000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110982 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2044 | 139000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106347 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 864000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669462 |
| PacifiCorp<br> 5.350%, 12/01/2053 | 456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451303 |
| PECO Energy Company<br> 2.850%, 09/15/2051 | 499000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328447 |
| Pennsylvania Electric Company<br> 3.250%, 03/15/2028 (D) | 403000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361992 |
| Public Service Company of Oklahoma<br> 3.150%, 08/15/2051 | 280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185593 |
| Public Service Electric & Gas Company |  |  |
| &nbsp;&nbsp;&nbsp;1.900%, 08/15/2031 | 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441156 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/01/2050 | 116000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64637 |
| &nbsp;&nbsp;&nbsp;2.700%, 05/01/2050 | 226000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145978 |
| Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.600%, 08/15/2030 | 318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246565 |
| &nbsp;&nbsp;&nbsp;2.450%, 11/15/2031 | 358000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286103 |
| Southern California Edison Company<br> 4.125%, 03/01/2048 | 311000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248170 |
| The AES Corp.<br> 1.375%, 01/15/2026 | 313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277940 |
| Trans-Allegheny Interstate Line Company<br> 3.850%, 06/01/2025 (D) | 195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188227 |
| Virginia Electric and Power Company |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 11/15/2051 | 414000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272046 |
| &nbsp;&nbsp;&nbsp;4.625%, 05/15/2052 | 311000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271401 |
| Wisconsin Electric Power Company<br> 4.750%, 09/30/2032 | 414000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405653 |
|  |  | &nbsp;&nbsp;&nbsp;15638809 |
| TOTAL CORPORATE BONDS (Cost $207,726,200) |  | $186674302 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 25 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS – 0.3%** |  |  |
| Board of Regents of the University of Texas System<br> 2.439%, 08/15/2049 | &nbsp;&nbsp;285000 | $&nbsp;&nbsp;&nbsp;&nbsp;178997 |
| County of Clark Department of Aviation (Nevada)<br> 6.820%, 07/01/2045 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;882216 |
| North Texas Tollway Authority<br> 6.718%, 01/01/2049 | &nbsp;&nbsp;697000 | &nbsp;&nbsp;&nbsp;&nbsp;826094 |
| Ohio State University<br> 4.800%, 06/01/2111 | &nbsp;&nbsp;464000 | &nbsp;&nbsp;&nbsp;&nbsp;381907 |
| Port Authority of New York & New Jersey<br> 4.458%, 10/01/2062 | &nbsp;&nbsp;571000 | &nbsp;&nbsp;&nbsp;&nbsp;495480 |
| TOTAL MUNICIPAL BONDS (Cost $3,491,211) | TOTAL MUNICIPAL BONDS (Cost $3,491,211) | $2764694 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 9.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 9.5%** |  |
| **Commercial and residential – 4.3%** |  |  |
| 3650R Commercial Mortgage Trust<br> Series 2021-PF1, Class A5<br> 2.522%, 11/15/2054 | &nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;371697 |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A1A,<br> 2.531%, 01/26/2065 (D)(E) | &nbsp;&nbsp;129745 | &nbsp;&nbsp;&nbsp;&nbsp;117308 |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1,<br> 1.373%, 05/25/2065 (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;93734 | &nbsp;&nbsp;&nbsp;&nbsp;83337 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.458%, 09/25/2066 (D)(E) | &nbsp;&nbsp;500699 | &nbsp;&nbsp;&nbsp;&nbsp;395802 |
| BANK<br> Series 2022-BNK44, Class A5<br> 5.746%, 11/15/2055 (E) | &nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;713235 |
| Barclays Commercial Mortgage Trust<br> Series 2019-C3, Class A3<br> 3.319%, 05/15/2052 | &nbsp;&nbsp;721000 | &nbsp;&nbsp;&nbsp;&nbsp;649582 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C2, Class ASB,<br> 4.236%, 12/15/2051 | &nbsp;&nbsp;214000 | &nbsp;&nbsp;&nbsp;&nbsp;206016 |
| &nbsp;&nbsp;&nbsp;Series 2022-C18, Class A5,<br> 5.710%, 12/15/2055 (E) | &nbsp;&nbsp;289000 | &nbsp;&nbsp;&nbsp;&nbsp;302379 |
| Benchmark Mortgage Trust<br> Series 2022-B35, Class A5<br> 4.445%, 05/15/2055 (E) | &nbsp;&nbsp;223000 | &nbsp;&nbsp;&nbsp;&nbsp;213085 |
| Bunker Hill Loan Depositary Trust<br> Series 2019-2, Class A1<br> 2.879%, 07/25/2049 (D) | &nbsp;&nbsp;359696 | &nbsp;&nbsp;&nbsp;&nbsp;330709 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class A (1 month LIBOR + 0.700%),<br> 5.018%, 09/15/2036 (A)(D) | 2021000 | 1946770 |
| &nbsp;&nbsp;&nbsp;Series 2021-XL2, Class A (1 month LIBOR + 0.689%),<br> 5.007%, 10/15/2038 (A)(D) | &nbsp;&nbsp;925788 | &nbsp;&nbsp;&nbsp;&nbsp;889797 |
| CFCRE Commercial Mortgage Trust<br> Series 2017-C8, Class ASB<br> 3.367%, 06/15/2050 | &nbsp;&nbsp;264179 | &nbsp;&nbsp;&nbsp;&nbsp;252089 |
| Citigroup Commercial Mortgage Trust<br> Series 2022-GC48, Class A5<br> 4.580%, 05/15/2054 (E) | &nbsp;&nbsp;561000 | &nbsp;&nbsp;&nbsp;&nbsp;540418 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (D)(E) | &nbsp;&nbsp;665089 | &nbsp;&nbsp;&nbsp;&nbsp;524710 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.397%, 10/25/2066 (D)(E) | &nbsp;&nbsp;717104 | &nbsp;&nbsp;&nbsp;&nbsp;582291 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-CR10, Class A4,<br> 4.210%, 08/10/2046 (E) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14898 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-CR11, Class A4,<br> 4.258%, 08/10/2050 | $2260000 | $2235068 |
| &nbsp;&nbsp;&nbsp;Series 2013-CR13, Class A4,<br> 4.194%, 11/10/2046 (E) | &nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;302597 |
| &nbsp;&nbsp;&nbsp;Series 2013-CR6, Class A4,<br> 3.101%, 03/10/2046 | &nbsp;&nbsp;674315 | &nbsp;&nbsp;&nbsp;&nbsp;672150 |
| &nbsp;&nbsp;&nbsp;Series 2014-UBS4, Class A4,<br> 3.420%, 08/10/2047 | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;705929 |
| &nbsp;&nbsp;&nbsp;Series 2015-LC19, Class A3,<br> 2.922%, 02/10/2048 | 1445444 | 1386410 |
| &nbsp;&nbsp;&nbsp;Series 2015-LC23, Class A3,<br> 3.521%, 10/10/2048 | &nbsp;&nbsp;379000 | &nbsp;&nbsp;&nbsp;&nbsp;359663 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-C16, Class A2,<br> 3.067%, 06/15/2052 | &nbsp;&nbsp;342000 | &nbsp;&nbsp;&nbsp;&nbsp;298918 |
| &nbsp;&nbsp;&nbsp;Series 2021-C20, Class A3,<br> 2.805%, 03/15/2054 | &nbsp;&nbsp;254000 | &nbsp;&nbsp;&nbsp;&nbsp;211452 |
| EQUS Mortgage Trust<br> Series 2021-EQAZ, Class A (1 month LIBOR + 0.755%)<br> 5.073%, 10/15/2038 (A)(D) | &nbsp;&nbsp;786984 | &nbsp;&nbsp;&nbsp;&nbsp;757368 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-GC14, Class A5,<br> 4.243%, 08/10/2046 | &nbsp;&nbsp;412000 | &nbsp;&nbsp;&nbsp;&nbsp;407918 |
| &nbsp;&nbsp;&nbsp;Series 2014-GC18, Class A4,<br> 4.074%, 01/10/2047 | &nbsp;&nbsp;971000 | &nbsp;&nbsp;&nbsp;&nbsp;950083 |
| &nbsp;&nbsp;&nbsp;Series 2015-GC32, Class A3,<br> 3.498%, 07/10/2048 | &nbsp;&nbsp;335858 | &nbsp;&nbsp;&nbsp;&nbsp;320305 |
| &nbsp;&nbsp;&nbsp;Series 2020-GC47, Class A5,<br> 2.377%, 05/12/2053 | &nbsp;&nbsp;319000 | &nbsp;&nbsp;&nbsp;&nbsp;263355 |
| &nbsp;&nbsp;&nbsp;Series 2020-GSA2, Class A4,<br> 1.721%, 12/12/2053 | &nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;780560 |
| Impact Funding Affordable Multifamily Housing Mortgage Loan Trust<br> Series 2010-1, Class A1<br> 5.314%, 01/25/2051 (D) | &nbsp;&nbsp;660283 | &nbsp;&nbsp;&nbsp;&nbsp;642861 |
| JPMBB Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-C12, Class A5,<br> 3.664%, 07/15/2045 | &nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;623684 |
| &nbsp;&nbsp;&nbsp;Series 2013-C17, Class A4,<br> 4.199%, 01/15/2047 | &nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp;198722 |
| &nbsp;&nbsp;&nbsp;Series 2014-C23, Class A4,<br> 3.670%, 09/15/2047 | &nbsp;&nbsp;338301 | &nbsp;&nbsp;&nbsp;&nbsp;327007 |
| &nbsp;&nbsp;&nbsp;Series 2015-C28, Class A3,<br> 2.912%, 10/15/2048 | 1351830 | 1283249 |
| &nbsp;&nbsp;&nbsp;Series 2015-C30, Class A5,<br> 3.822%, 07/15/2048 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;509728 |
| JPMorgan Chase Commercial Mortgage<br> Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-C16, Class A4,<br> 4.166%, 12/15/2046 | &nbsp;&nbsp;902000 | &nbsp;&nbsp;&nbsp;&nbsp;889277 |
| &nbsp;&nbsp;&nbsp;Series 2016-JP4, Class A3,<br> 3.393%, 12/15/2049 | &nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp;183144 |
| Med Trust<br> Series 2021-MDLN, Class A (1 month LIBOR + 0.950%)<br> 5.268%, 11/15/2038 (A)(D) | 1273000 | 1225111 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 26 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| MFA Trust<br> Series 2021-NQM2, Class A1<br> 1.029%, 11/25/2064 (D)(E) | $&nbsp;&nbsp;293039 | $&nbsp;&nbsp;&nbsp;&nbsp;237879 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-L2, Class A3,<br> 3.806%, 03/15/2052 | &nbsp;&nbsp;454000 | &nbsp;&nbsp;&nbsp;&nbsp;414455 |
| &nbsp;&nbsp;&nbsp;Series 2020-HR8, Class A3,<br> 1.790%, 07/15/2053 | &nbsp;&nbsp;557000 | &nbsp;&nbsp;&nbsp;&nbsp;442374 |
| New Residential Mortgage Loan Trust<br> Series 2019-NQM4, Class A1<br> 2.492%, 09/25/2059 (D)(E) | &nbsp;&nbsp;154441 | &nbsp;&nbsp;&nbsp;&nbsp;139138 |
| NewRez Warehouse Securitization Trust<br> Series 2021-1, Class A (1 month LIBOR + 0.750%)<br> 5.139%, 05/25/2055 (A)(D) | 1888000 | 1857946 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1,<br> 2.275%, 02/25/2050 (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;55799 | &nbsp;&nbsp;&nbsp;&nbsp;53412 |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class A1,<br> 1.486%, 04/25/2065 (D)(E) | &nbsp;&nbsp;230241 | &nbsp;&nbsp;&nbsp;&nbsp;210722 |
| &nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A1,<br> 1.027%, 11/25/2055 (D)(E) | &nbsp;&nbsp;206962 | &nbsp;&nbsp;&nbsp;&nbsp;190415 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 1.219%, 05/25/2065 (D)(E) | &nbsp;&nbsp;273331 | &nbsp;&nbsp;&nbsp;&nbsp;246903 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.162%, 08/25/2056 (D)(E) | &nbsp;&nbsp;681111 | &nbsp;&nbsp;&nbsp;&nbsp;546978 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1 (2.642% to 10-25-23, then 3.642% thereafter),<br> 2.642%, 11/25/2059 (D) | &nbsp;&nbsp;254715 | &nbsp;&nbsp;&nbsp;&nbsp;241612 |
| &nbsp;&nbsp;&nbsp;Series 2019-INV2, Class A1,<br> 2.913%, 07/25/2059 (D)(E) | &nbsp;&nbsp;135481 | &nbsp;&nbsp;&nbsp;&nbsp;130662 |
| &nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A1,<br> 2.692%, 11/25/2059 (D)(E) | &nbsp;&nbsp;115153 | &nbsp;&nbsp;&nbsp;&nbsp;108097 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 (2.417% to 1-25-24, then 3.417% thereafter),<br> 2.417%, 01/25/2060 (D) | &nbsp;&nbsp;267281 | &nbsp;&nbsp;&nbsp;&nbsp;251623 |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A1,<br> 2.226%, 05/25/2060 (D)(E) | &nbsp;&nbsp;114977 | &nbsp;&nbsp;&nbsp;&nbsp;110266 |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1 (1.218% to 10-1-24, then 2.218% thereafter),<br> 1.218%, 05/25/2065 (D) | &nbsp;&nbsp;103141 | &nbsp;&nbsp;&nbsp;&nbsp;93569 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (D)(E) | &nbsp;&nbsp;347948 | &nbsp;&nbsp;&nbsp;&nbsp;289967 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (D)(E) | &nbsp;&nbsp;654485 | &nbsp;&nbsp;&nbsp;&nbsp;543487 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (D)(E) | &nbsp;&nbsp;489082 | &nbsp;&nbsp;&nbsp;&nbsp;390585 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (D)(E) | &nbsp;&nbsp;594284 | &nbsp;&nbsp;&nbsp;&nbsp;457227 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (D)(E) | 1904849 | 1520664 |
| &nbsp;&nbsp;&nbsp;Series 2021-7, Class A1,<br> 1.829%, 10/25/2066 (D)(E) | &nbsp;&nbsp;901251 | &nbsp;&nbsp;&nbsp;&nbsp;756223 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.824%, 11/25/2066 (D)(E) | &nbsp;&nbsp;639389 | &nbsp;&nbsp;&nbsp;&nbsp;538489 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (D)(E) | &nbsp;&nbsp;301403 | &nbsp;&nbsp;&nbsp;&nbsp;269058 |
| &nbsp;&nbsp;&nbsp;Series 2021-R3, Class A1,<br> 1.020%, 04/25/2064 (D)(E) | &nbsp;&nbsp;306994 | &nbsp;&nbsp;&nbsp;&nbsp;264572 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Visio Trust<br> Series 2020-1R, Class A1<br> 1.312%, 11/25/2055 (D) | $&nbsp;&nbsp;227495 | $&nbsp;&nbsp;&nbsp;&nbsp;204675 |
|  |  | 34179680 |
| **U.S. Government Agency – 5.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 264, Class 30,<br> 3.000%, 07/15/2042 | 1028535 | &nbsp;&nbsp;&nbsp;&nbsp;932526 |
| &nbsp;&nbsp;&nbsp;Series 4205, Class PA,<br> 1.750%, 05/15/2043 | &nbsp;&nbsp;327072 | &nbsp;&nbsp;&nbsp;&nbsp;275939 |
| &nbsp;&nbsp;&nbsp;Series 4742, Class PA,<br> 3.000%, 10/15/2047 | &nbsp;&nbsp;894733 | &nbsp;&nbsp;&nbsp;&nbsp;811179 |
| &nbsp;&nbsp;&nbsp;Series 4880, Class DA,<br> 3.000%, 05/15/2050 | &nbsp;&nbsp;670066 | &nbsp;&nbsp;&nbsp;&nbsp;610464 |
| &nbsp;&nbsp;&nbsp;Series 5091, Class AB,<br> 1.500%, 03/25/2051 | 1092003 | &nbsp;&nbsp;&nbsp;&nbsp;894898 |
| &nbsp;&nbsp;&nbsp;Series 5119, Class AB,<br> 1.500%, 08/25/2049 | &nbsp;&nbsp;443656 | &nbsp;&nbsp;&nbsp;&nbsp;358409 |
| &nbsp;&nbsp;&nbsp;Series 5178, Class TP,<br> 2.500%, 04/25/2049 | &nbsp;&nbsp;814408 | &nbsp;&nbsp;&nbsp;&nbsp;698073 |
| &nbsp;&nbsp;&nbsp;Series 5182, Class M,<br> 2.500%, 05/25/2049 | &nbsp;&nbsp;515360 | &nbsp;&nbsp;&nbsp;&nbsp;453692 |
| &nbsp;&nbsp;&nbsp;Series 5201, Class CA,<br> 2.500%, 07/25/2048 | &nbsp;&nbsp;759610 | &nbsp;&nbsp;&nbsp;&nbsp;675940 |
| &nbsp;&nbsp;&nbsp;Series 5202, Class LA,<br> 2.500%, 05/25/2049 | &nbsp;&nbsp;737775 | &nbsp;&nbsp;&nbsp;&nbsp;636169 |
| &nbsp;&nbsp;&nbsp;Series 5203, Class G,<br> 2.500%, 11/25/2048 | &nbsp;&nbsp;328495 | &nbsp;&nbsp;&nbsp;&nbsp;286942 |
| &nbsp;&nbsp;&nbsp;Series 5217, Class CD,<br> 2.500%, 07/25/2049 | &nbsp;&nbsp;663275 | &nbsp;&nbsp;&nbsp;&nbsp;603064 |
| &nbsp;&nbsp;&nbsp;Series K144, Class A2,<br> 2.450%, 04/25/2032 | &nbsp;&nbsp;741000 | &nbsp;&nbsp;&nbsp;&nbsp;626028 |
| &nbsp;&nbsp;&nbsp;Series K145, Class A2,<br> 2.580%, 05/25/2032 | &nbsp;&nbsp;741000 | &nbsp;&nbsp;&nbsp;&nbsp;632549 |
| &nbsp;&nbsp;&nbsp;Series K146, Class A2,<br> 2.920%, 06/25/2032 | 1413000 | &nbsp;&nbsp;&nbsp;1241807 |
| &nbsp;&nbsp;&nbsp;Series K147, Class A2,<br> 3.000%, 06/25/2032 (E) | 1413000 | &nbsp;&nbsp;&nbsp;1249969 |
| &nbsp;&nbsp;&nbsp;Series KG07, Class A2,<br> 3.123%, 08/25/2032 (E) | &nbsp;&nbsp;738000 | &nbsp;&nbsp;&nbsp;&nbsp;658403 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-151, Class NX,<br> 1.500%, 01/25/2043 | &nbsp;&nbsp;361278 | &nbsp;&nbsp;&nbsp;&nbsp;305551 |
| &nbsp;&nbsp;&nbsp;Series 2013-11, Class AP,<br> 1.500%, 01/25/2043 | 1256631 | &nbsp;&nbsp;&nbsp;1113128 |
| &nbsp;&nbsp;&nbsp;Series 2013-43, Class BP,<br> 1.750%, 05/25/2043 | &nbsp;&nbsp;413388 | &nbsp;&nbsp;&nbsp;&nbsp;358533 |
| &nbsp;&nbsp;&nbsp;Series 2015-84, Class PA,<br> 1.700%, 08/25/2033 | 1446375 | &nbsp;&nbsp;&nbsp;1307588 |
| &nbsp;&nbsp;&nbsp;Series 2016-48, Class MA,<br> 2.000%, 06/25/2038 | 1483934 | &nbsp;&nbsp;&nbsp;1336120 |
| &nbsp;&nbsp;&nbsp;Series 2016-57, Class PC,<br> 1.750%, 06/25/2046 | 2838918 | &nbsp;&nbsp;&nbsp;2357820 |
| &nbsp;&nbsp;&nbsp;Series 2017-13, Class PA,<br> 3.000%, 08/25/2046 | &nbsp;&nbsp;557102 | &nbsp;&nbsp;&nbsp;&nbsp;505560 |
| &nbsp;&nbsp;&nbsp;Series 2017-M7, Class A2,<br> 2.961%, 02/25/2027 (E) | &nbsp;&nbsp;287968 | &nbsp;&nbsp;&nbsp;&nbsp;270646 |
| &nbsp;&nbsp;&nbsp;Series 2018-14, Class KC,<br> 3.000%, 03/25/2048 | &nbsp;&nbsp;955265 | &nbsp;&nbsp;&nbsp;&nbsp;889607 |
| &nbsp;&nbsp;&nbsp;Series 2018-8, Class KL,<br> 2.500%, 03/25/2047 | &nbsp;&nbsp;512534 | &nbsp;&nbsp;&nbsp;&nbsp;447927 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 27 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-85, Class FE (1 month LIBOR + 0.300%),<br> 4.689%, 12/25/2048 (A) | 1187334 | $&nbsp;&nbsp;&nbsp;1159200 |
| &nbsp;&nbsp;&nbsp;Series 2019-25, Class PA,<br> 3.000%, 05/25/2048 | &nbsp;&nbsp;920518 | &nbsp;&nbsp;&nbsp;&nbsp;835301 |
| &nbsp;&nbsp;&nbsp;Series 2020-45, Class JL,<br> 3.000%, 07/25/2040 | &nbsp;&nbsp;929761 | &nbsp;&nbsp;&nbsp;&nbsp;839610 |
| &nbsp;&nbsp;&nbsp;Series 2020-48, Class AB,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;446867 | &nbsp;&nbsp;&nbsp;&nbsp;376487 |
| &nbsp;&nbsp;&nbsp;Series 2020-48, Class DA,<br> 2.000%, 07/25/2050 | 1351663 | &nbsp;&nbsp;&nbsp;1156596 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class EC,<br> 1.500%, 05/25/2051 | 1867255 | &nbsp;&nbsp;&nbsp;1526074 |
| &nbsp;&nbsp;&nbsp;Series 2021-78, Class ND,<br> 1.500%, 11/25/2051 | 1049163 | &nbsp;&nbsp;&nbsp;&nbsp;858672 |
| &nbsp;&nbsp;&nbsp;Series 2021-78, Class PA,<br> 2.500%, 11/25/2051 | &nbsp;&nbsp;589976 | &nbsp;&nbsp;&nbsp;&nbsp;513108 |
| &nbsp;&nbsp;&nbsp;Series 2022-11, Class A,<br> 2.500%, 07/25/2047 | 1630048 | &nbsp;&nbsp;&nbsp;1470437 |
| &nbsp;&nbsp;&nbsp;Series 2022-28, Class CA,<br> 2.000%, 01/25/2048 | &nbsp;&nbsp;612286 | &nbsp;&nbsp;&nbsp;&nbsp;538434 |
| &nbsp;&nbsp;&nbsp;Series 2022-M13, Class A2,<br> 2.593%, 06/25/2032 (E) | &nbsp;&nbsp;587000 | &nbsp;&nbsp;&nbsp;&nbsp;495643 |
| &nbsp;&nbsp;&nbsp;Series 414, Class A35,<br> 3.500%, 10/25/2042 | 1129603 | &nbsp;&nbsp;&nbsp;1054134 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-141, Class WA,<br> 4.523%, 11/16/2041 (E) | &nbsp;&nbsp;179290 | &nbsp;&nbsp;&nbsp;&nbsp;175957 |
| &nbsp;&nbsp;&nbsp;Series 2017-167, Class BQ,<br> 2.500%, 08/20/2044 | &nbsp;&nbsp;490224 | &nbsp;&nbsp;&nbsp;&nbsp;445959 |
| &nbsp;&nbsp;&nbsp;Series 2021-23, Class MG,<br> 1.500%, 02/20/2051 | 1285419 | &nbsp;&nbsp;&nbsp;1056754 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class BD,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;506933 | &nbsp;&nbsp;&nbsp;&nbsp;508467 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class CW,<br> 5.001%, 02/20/2051 (E) | &nbsp;&nbsp;662124 | &nbsp;&nbsp;&nbsp;&nbsp;655327 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class NT,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;533028 | &nbsp;&nbsp;&nbsp;&nbsp;518949 |
| &nbsp;&nbsp;&nbsp;Series 2021-27, Class Q,<br> 5.000%, 02/20/2051 | &nbsp;&nbsp;459932 | &nbsp;&nbsp;&nbsp;&nbsp;448988 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class CY,<br> 5.000%, 01/20/2051 | &nbsp;&nbsp;478921 | &nbsp;&nbsp;&nbsp;&nbsp;473931 |
| &nbsp;&nbsp;&nbsp;Series 2022-107, Class C,<br> 2.500%, 06/20/2051 | 2188795 | &nbsp;&nbsp;&nbsp;1844667 |
| &nbsp;&nbsp;&nbsp;Series 2022-205, Class A,<br> 2.000%, 09/20/2051 | &nbsp;&nbsp;794000 | &nbsp;&nbsp;&nbsp;&nbsp;640301 |
| &nbsp;&nbsp;&nbsp;Series 2022-31, Class GH,<br> 2.500%, 12/20/2049 | 1450991 | &nbsp;&nbsp;&nbsp;1283585 |
| &nbsp;&nbsp;&nbsp;Series 2022-50, Class DC,<br> 2.500%, 08/20/2051 | &nbsp;&nbsp;648775 | &nbsp;&nbsp;&nbsp;&nbsp;556438 |
| &nbsp;&nbsp;&nbsp;Series 2022-84, Class A,<br> 2.500%, 01/20/2052 | &nbsp;&nbsp;648461 | &nbsp;&nbsp;&nbsp;&nbsp;549146 |
|  |  | 40520696 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $82,421,989) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $82,421,989) | $74700376 |
| **ASSET BACKED SECURITIES – 11.6%** | **ASSET BACKED SECURITIES – 11.6%** |  |
| Ally Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 3.310%, 11/15/2026 | &nbsp;&nbsp;783000 | &nbsp;&nbsp;&nbsp;&nbsp;762598 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Ally Auto Receivables Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A4<br> 4.870%, 04/17/2028 | $&nbsp;&nbsp;660000 | $&nbsp;&nbsp;&nbsp;&nbsp;661251 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A4<br> 5.070%, 06/15/2031 | &nbsp;&nbsp;331000 | &nbsp;&nbsp;&nbsp;&nbsp;333321 |
| American Express Credit Account<br> Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A<br> 3.750%, 08/15/2027 | 1427000 | 1395022 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A<br> 4.950%, 10/15/2027 | 1069000 | 1076891 |
| AmeriCredit Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 2.450%, 11/18/2026 | &nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;250688 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 4.380%, 04/18/2028 | &nbsp;&nbsp;633000 | &nbsp;&nbsp;&nbsp;&nbsp;621122 |
| Avis Budget Rental Car Funding<br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3A, Class A<br> 2.360%, 03/20/2026 (D) | &nbsp;&nbsp;678000 | &nbsp;&nbsp;&nbsp;&nbsp;631021 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.330%, 08/20/2026 (D) | &nbsp;&nbsp;494000 | &nbsp;&nbsp;&nbsp;&nbsp;457123 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A<br> 1.660%, 02/20/2028 (D) | 1415000 | 1224383 |
| &nbsp;&nbsp;&nbsp;Series 2022-3A, Class A<br> 4.620%, 02/20/2027 (D) | 1167000 | 1139262 |
| &nbsp;&nbsp;&nbsp;Series 2022-4A, Class A<br> 4.770%, 02/20/2029 (D) | &nbsp;&nbsp;579000 | &nbsp;&nbsp;&nbsp;&nbsp;559144 |
| BA Credit Card Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A1, Class A1<br> 3.530%, 11/15/2027 | 1244000 | 1209700 |
| &nbsp;&nbsp;&nbsp;Series 2022-A2, Class A2<br> 5.000%, 04/17/2028 | &nbsp;&nbsp;907000 | &nbsp;&nbsp;&nbsp;&nbsp;915756 |
| Capital One Multi-Asset Execution Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-A2, Class A2<br> 1.390%, 07/15/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;833729 |
| &nbsp;&nbsp;&nbsp;Series 2022-A2, Class A<br> 3.490%, 05/15/2027 | &nbsp;&nbsp;883000 | &nbsp;&nbsp;&nbsp;&nbsp;858719 |
| &nbsp;&nbsp;&nbsp;Series 2022-A3, Class A<br> 4.950%, 10/15/2027 | &nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;769831 |
| Chase Auto Owner Trust<br> Series 2022-AA, Class A4<br> 3.990%, 03/27/2028 (D) | &nbsp;&nbsp;416000 | &nbsp;&nbsp;&nbsp;&nbsp;405906 |
| Chase Issuance Trust<br> Series 2022-A1, Class A<br> 3.970%, 09/15/2027 | &nbsp;&nbsp;277000 | &nbsp;&nbsp;&nbsp;&nbsp;270986 |
| College Ave Student Loans LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-A, Class A1 (1 month LIBOR + 1.650%)<br> 6.039%, 11/26/2046 (A)(D) | &nbsp;&nbsp;340745 | &nbsp;&nbsp;&nbsp;&nbsp;333418 |
| &nbsp;&nbsp;&nbsp;Series 2018-A, Class A2<br> 4.130%, 12/26/2047 (D) | &nbsp;&nbsp;241860 | &nbsp;&nbsp;&nbsp;&nbsp;225011 |
| &nbsp;&nbsp;&nbsp;Series 2019-A, Class A2<br> 3.280%, 12/28/2048 (D) | &nbsp;&nbsp;426187 | &nbsp;&nbsp;&nbsp;&nbsp;382041 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class A2<br> 1.600%, 07/25/2051 (D) | &nbsp;&nbsp;549264 | &nbsp;&nbsp;&nbsp;&nbsp;471619 |
| Ford Credit Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 3.230%, 05/15/2025 | 1243000 | 1218495 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 3.370%, 07/15/2025 | &nbsp;&nbsp;599000 | &nbsp;&nbsp;&nbsp;&nbsp;582248 |
| Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A<br> 1.060%, 04/15/2033 (D) | &nbsp;&nbsp;451000 | &nbsp;&nbsp;&nbsp;&nbsp;403830 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A<br> 3.880%, 11/15/2034 (D) | 2096000 | 2009291 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 28 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Ford Credit Auto<br> Owner Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 1.290%, 06/15/2026 | $&nbsp;&nbsp;411000 | $&nbsp;&nbsp;&nbsp;&nbsp;390829 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A4<br> 4.590%, 12/15/2027 | 1064000 | 1052854 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.300%, 03/15/2028 | &nbsp;&nbsp;299000 | &nbsp;&nbsp;&nbsp;&nbsp;302307 |
| GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A4<br> 3.540%, 05/20/2026 | &nbsp;&nbsp;689000 | &nbsp;&nbsp;&nbsp;&nbsp;672203 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A4<br> 4.110%, 08/20/2026 | &nbsp;&nbsp;874000 | &nbsp;&nbsp;&nbsp;&nbsp;856322 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 3.100%, 02/16/2027 | 1782000 | 1725872 |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A4<br> 3.250%, 04/17/2028 | &nbsp;&nbsp;951000 | &nbsp;&nbsp;&nbsp;&nbsp;908370 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A4<br> 3.710%, 12/16/2027 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;519140 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A3<br> 4.820%, 08/16/2027 | &nbsp;&nbsp;864000 | &nbsp;&nbsp;&nbsp;&nbsp;864476 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A4<br> 4.880%, 08/16/2028 | &nbsp;&nbsp;942000 | &nbsp;&nbsp;&nbsp;&nbsp;944531 |
| GM Financial Revolving Receivables Trust<br> Series 2022-1, Class A<br> 5.910%, 10/11/2035 (D) | &nbsp;&nbsp;786000 | &nbsp;&nbsp;&nbsp;&nbsp;800186 |
| Hertz Vehicle Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A<br> 1.680%, 12/27/2027 (D) | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;644063 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 1.990%, 06/25/2026 (D) | 1683000 | 1544829 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class A<br> 2.330%, 06/26/2028 (D) | 1490000 | 1306025 |
| &nbsp;&nbsp;&nbsp;Series 2022-4A, Class A<br> 3.730%, 09/25/2026 (D) | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;702160 |
| &nbsp;&nbsp;&nbsp;Series 2022-5A, Class A<br> 3.890%, 09/25/2028 (D) | 1485000 | 1370842 |
| Honda Auto Receivables Owner Trust<br> Series 2022-2, Class A4<br> 3.760%, 12/18/2028 | &nbsp;&nbsp;398000 | &nbsp;&nbsp;&nbsp;&nbsp;388134 |
| Hyundai Auto Lease Securitization Trust<br> Series 2022-C, Class A4<br> 4.480%, 08/17/2026 (D) | &nbsp;&nbsp;873000 | &nbsp;&nbsp;&nbsp;&nbsp;861639 |
| Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-C, Class A4<br> 1.030%, 12/15/2027 | &nbsp;&nbsp;549000 | &nbsp;&nbsp;&nbsp;&nbsp;496848 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 2.220%, 10/15/2026 | 1004000 | &nbsp;&nbsp;&nbsp;&nbsp;959239 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 2.350%, 04/17/2028 | &nbsp;&nbsp;341000 | &nbsp;&nbsp;&nbsp;&nbsp;318925 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A3<br> 5.390%, 06/15/2027 | &nbsp;&nbsp;749000 | &nbsp;&nbsp;&nbsp;&nbsp;756696 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A4<br> 5.520%, 10/16/2028 | &nbsp;&nbsp;693000 | &nbsp;&nbsp;&nbsp;&nbsp;704749 |
| Mercedes-Benz Auto Receivables Trust<br> Series 2022-1, Class A4<br> 5.250%, 02/15/2029 | &nbsp;&nbsp;693000 | &nbsp;&nbsp;&nbsp;&nbsp;696460 |
| Navient Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-AA, Class A3 (1 month LIBOR + 1.600%)<br> 5.918%, 10/15/2031 (A)(D) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;465105 |
| &nbsp;&nbsp;&nbsp;Series 2016-AA, Class A2B (1 month LIBOR + 2.150%)<br> 6.468%, 12/15/2045 (A)(D) | &nbsp;&nbsp;261285 | &nbsp;&nbsp;&nbsp;&nbsp;263533 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Navient Private Education<br> Loan Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-IA, Class A1A<br> 1.330%, 04/15/2069 (D) | $1337272 | $1139599 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-A, Class A2<br> 3.190%, 02/18/2042 (D) | &nbsp;&nbsp;&nbsp;&nbsp;5920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876 |
| &nbsp;&nbsp;&nbsp;Series 2018-CA, Class A2<br> 3.520%, 06/16/2042 (D) | &nbsp;&nbsp;&nbsp;&nbsp;35695 | &nbsp;&nbsp;&nbsp;&nbsp;35011 |
| &nbsp;&nbsp;&nbsp;Series 2018-DA, Class A2A<br> 4.000%, 12/15/2059 (D) | &nbsp;&nbsp;620893 | &nbsp;&nbsp;&nbsp;&nbsp;593976 |
| &nbsp;&nbsp;&nbsp;Series 2019-CA, Class A2<br> 3.130%, 02/15/2068 (D) | &nbsp;&nbsp;515359 | &nbsp;&nbsp;&nbsp;&nbsp;486569 |
| &nbsp;&nbsp;&nbsp;Series 2019-D, Class A2A<br> 3.010%, 12/15/2059 (D) | 1194966 | 1088291 |
| &nbsp;&nbsp;&nbsp;Series 2019-FA, Class A2<br> 2.600%, 08/15/2068 (D) | &nbsp;&nbsp;658135 | &nbsp;&nbsp;&nbsp;&nbsp;608900 |
| &nbsp;&nbsp;&nbsp;Series 2020-BA, Class A2<br> 2.120%, 01/15/2069 (D) | &nbsp;&nbsp;430323 | &nbsp;&nbsp;&nbsp;&nbsp;390644 |
| &nbsp;&nbsp;&nbsp;Series 2020-EA, Class A<br> 1.690%, 05/15/2069 (D) | &nbsp;&nbsp;114375 | &nbsp;&nbsp;&nbsp;&nbsp;102888 |
| &nbsp;&nbsp;&nbsp;Series 2020-GA, Class A<br> 1.170%, 09/16/2069 (D) | &nbsp;&nbsp;457788 | &nbsp;&nbsp;&nbsp;&nbsp;406031 |
| &nbsp;&nbsp;&nbsp;Series 2020-HA, Class A<br> 1.310%, 01/15/2069 (D) | &nbsp;&nbsp;339324 | &nbsp;&nbsp;&nbsp;&nbsp;304536 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class A<br> 0.840%, 05/15/2069 (D) | &nbsp;&nbsp;182908 | &nbsp;&nbsp;&nbsp;&nbsp;158144 |
| &nbsp;&nbsp;&nbsp;Series 2021-BA, Class A<br> 0.940%, 07/15/2069 (D) | &nbsp;&nbsp;260674 | &nbsp;&nbsp;&nbsp;&nbsp;220162 |
| &nbsp;&nbsp;&nbsp;Series 2021-CA, Class A<br> 1.060%, 10/15/2069 (D) | 1070222 | &nbsp;&nbsp;&nbsp;&nbsp;909811 |
| &nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (D) | 1815294 | 1520707 |
| &nbsp;&nbsp;&nbsp;Series 2021-FA, Class A<br> 1.110%, 02/18/2070 (D) | &nbsp;&nbsp;902039 | &nbsp;&nbsp;&nbsp;&nbsp;759412 |
| &nbsp;&nbsp;&nbsp;Series 2021-GA, Class A<br> 1.580%, 04/15/2070 (D) | &nbsp;&nbsp;642462 | &nbsp;&nbsp;&nbsp;&nbsp;544013 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A<br> 2.230%, 07/15/2070 (D) | 2161986 | 1875965 |
| Navient Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-BA, Class A2A<br> 3.390%, 12/15/2059 (D) | &nbsp;&nbsp;961382 | &nbsp;&nbsp;&nbsp;&nbsp;908202 |
| &nbsp;&nbsp;&nbsp;Series 2021-3A, Class A1A<br> 1.770%, 08/25/2070 (D) | 1010595 | &nbsp;&nbsp;&nbsp;&nbsp;872211 |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2004-3, Class A5 (3 month LIBOR + 0.180%)<br> 4.538%, 10/27/2036 (A) | &nbsp;&nbsp;753138 | &nbsp;&nbsp;&nbsp;&nbsp;731581 |
| &nbsp;&nbsp;&nbsp;Series 2004-4, Class A5 (3 month LIBOR + 0.160%)<br> 4.518%, 01/25/2037 (A) | &nbsp;&nbsp;715521 | &nbsp;&nbsp;&nbsp;&nbsp;700307 |
| &nbsp;&nbsp;&nbsp;Series 2005-1, Class A5 (3 month LIBOR + 0.110%)<br> 4.468%, 10/25/2033 (A) | 2259637 | 2180311 |
| &nbsp;&nbsp;&nbsp;Series 2005-2, Class A5 (3 month LIBOR + 0.100%)<br> 4.853%, 03/23/2037 (A) | 2100515 | 2037396 |
| &nbsp;&nbsp;&nbsp;Series 2005-3, Class A5 (3 month LIBOR + 0.120%)<br> 4.873%, 12/24/2035 (A) | 1457366 | 1412032 |
| &nbsp;&nbsp;&nbsp;Series 2005-4, Class A4 (3 month LIBOR + 0.180%)<br> 4.933%, 03/22/2032 (A) | &nbsp;&nbsp;379320 | &nbsp;&nbsp;&nbsp;&nbsp;368721 |
| Nissan Auto Lease Trust<br> Series 2022-A, Class A3<br> 3.810%, 05/15/2025 | 1175000 | 1157044 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 29 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Nissan Auto Receivables Owner Trust<br> Series 2022-B, Class A4<br> 4.450%, 11/15/2029 | $&nbsp;&nbsp;736000 | $&nbsp;&nbsp;&nbsp;&nbsp;725093 |
| PenFed Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 3.960%, 04/15/2026 (D) | &nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;605763 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 4.180%, 12/15/2028 (D) | &nbsp;&nbsp;302000 | &nbsp;&nbsp;&nbsp;&nbsp;296799 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A3<br> 2.980%, 10/15/2026 | 1878000 | 1847244 |
| &nbsp;&nbsp;&nbsp;Series 2022-3, Class A3<br> 3.400%, 12/15/2026 | &nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;613536 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A3<br> 4.140%, 02/16/2027 | &nbsp;&nbsp;889000 | &nbsp;&nbsp;&nbsp;&nbsp;870584 |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class A3<br> 4.110%, 08/17/2026 | &nbsp;&nbsp;733000 | &nbsp;&nbsp;&nbsp;&nbsp;719421 |
| &nbsp;&nbsp;&nbsp;Series 2022-6, Class A3<br> 4.490%, 11/16/2026 | 1551000 | 1531766 |
| &nbsp;&nbsp;&nbsp;Series 2022-7, Class A3<br> 5.750%, 04/15/2027 | &nbsp;&nbsp;503000 | &nbsp;&nbsp;&nbsp;&nbsp;505805 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-B, Class A2A<br> 2.430%, 02/17/2032 (D) | &nbsp;&nbsp;&nbsp;&nbsp;78065 | &nbsp;&nbsp;&nbsp;&nbsp;74602 |
| &nbsp;&nbsp;&nbsp;Series 2016-B, Class A2B (1 month LIBOR + 1.450%)<br> 5.768%, 02/17/2032 (A)(D) | &nbsp;&nbsp;&nbsp;&nbsp;30668 | &nbsp;&nbsp;&nbsp;&nbsp;30445 |
| &nbsp;&nbsp;&nbsp;Series 2016-C, Class A2B (1 month LIBOR + 1.100%)<br> 5.418%, 09/15/2034 (A)(D) | &nbsp;&nbsp;208936 | &nbsp;&nbsp;&nbsp;&nbsp;208112 |
| &nbsp;&nbsp;&nbsp;Series 2018-C, Class A2A<br> 3.630%, 11/15/2035 (D) | &nbsp;&nbsp;137881 | &nbsp;&nbsp;&nbsp;&nbsp;129601 |
| &nbsp;&nbsp;&nbsp;Series 2019-A, Class A2A<br> 3.440%, 07/15/2036 (D) | &nbsp;&nbsp;299284 | &nbsp;&nbsp;&nbsp;&nbsp;284622 |
| &nbsp;&nbsp;&nbsp;Series 2020-B, Class A1A<br> 1.290%, 07/15/2053 (D) | &nbsp;&nbsp;510524 | &nbsp;&nbsp;&nbsp;&nbsp;450372 |
| &nbsp;&nbsp;&nbsp;Series 2020-PTA, Class A2A<br> 1.600%, 09/15/2054 (D) | &nbsp;&nbsp;808116 | &nbsp;&nbsp;&nbsp;&nbsp;717877 |
| &nbsp;&nbsp;&nbsp;Series 2020-PTB, Class A2A<br> 1.600%, 09/15/2054 (D) | 2221822 | 1962429 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT1<br> 1.070%, 01/15/2053 (D) | 1802961 | 1546934 |
| &nbsp;&nbsp;&nbsp;Series 2021-B, Class A<br> 1.310%, 07/17/2051 (D) | &nbsp;&nbsp;506753 | &nbsp;&nbsp;&nbsp;&nbsp;452263 |
| &nbsp;&nbsp;&nbsp;Series 2021-C, Class A2 (1 month LIBOR + 0.800%)<br> 5.118%, 01/15/2053 (A)(D) | 1255937 | 1197051 |
| &nbsp;&nbsp;&nbsp;Series 2021-D, Class A1A<br> 1.340%, 03/17/2053 (D) | 1376774 | 1206039 |
| &nbsp;&nbsp;&nbsp;Series 2021-E, Class A1A<br> 1.680%, 02/15/2051 (D) | &nbsp;&nbsp;982931 | &nbsp;&nbsp;&nbsp;&nbsp;886816 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A1A<br> 4.480%, 05/16/2050 (D) | &nbsp;&nbsp;541441 | &nbsp;&nbsp;&nbsp;&nbsp;517776 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A1B (1 month SOFR + 1.800%)<br> 5.607%, 10/15/2058 (A)(D) | &nbsp;&nbsp;751845 | &nbsp;&nbsp;&nbsp;&nbsp;745385 |
| SoFi Professional Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-D, Class A2FX<br> 2.650%, 09/25/2040 (D) | &nbsp;&nbsp;&nbsp;&nbsp;25981 | &nbsp;&nbsp;&nbsp;&nbsp;24831 |
| &nbsp;&nbsp;&nbsp;Series 2017-E, Class A2B<br> 2.720%, 11/26/2040 (D) | &nbsp;&nbsp;139882 | &nbsp;&nbsp;&nbsp;&nbsp;138906 |
| &nbsp;&nbsp;&nbsp;Series 2020-C, Class AFX<br> 1.950%, 02/15/2046 (D) | &nbsp;&nbsp;&nbsp;&nbsp;93808 | &nbsp;&nbsp;&nbsp;&nbsp;84013 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class AFX<br> 1.030%, 08/17/2043 (D) | &nbsp;&nbsp;323358 | &nbsp;&nbsp;&nbsp;&nbsp;256775 |
| &nbsp;&nbsp;&nbsp;Series 2021-B, Class AFX<br> 1.140%, 02/15/2047 (D) | &nbsp;&nbsp;740082 | &nbsp;&nbsp;&nbsp;&nbsp;608595 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Synchrony Card Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A1, Class A<br> 3.370%, 04/15/2028 | 1072000 | $&nbsp;&nbsp;&nbsp;&nbsp;1034218 |
| &nbsp;&nbsp;&nbsp;Series 2022-A2, Class A<br> 3.860%, 07/15/2028 | &nbsp;&nbsp;922000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899133 |
| T-Mobile US Trust<br> Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (D) | 1152000 | &nbsp;&nbsp;&nbsp;&nbsp;1150085 |
| Toyota Auto Loan Extended Note Trust<br> Series 2022-1A, Class A<br> 3.820%, 04/25/2035 (D) | &nbsp;&nbsp;744000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704800 |
| Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A4<br> 3.110%, 08/16/2027 | &nbsp;&nbsp;709000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672519 |
| &nbsp;&nbsp;&nbsp;Series 2022-C, Class A4<br> 3.770%, 02/15/2028 | &nbsp;&nbsp;667000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644865 |
| &nbsp;&nbsp;&nbsp;Series 2022-D, Class A4<br> 5.430%, 04/17/2028 | &nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384886 |
| Triton Container Finance VIII LLC<br> Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (D) | &nbsp;&nbsp;426211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364649 |
| Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-2, Class A<br> 1.530%, 07/20/2028 | &nbsp;&nbsp;577000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539290 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A (3.400% to 6-20-25, then 4.150% thereafter)<br> 3.400%, 11/20/2028 | 1226000 | &nbsp;&nbsp;&nbsp;&nbsp;1187039 |
| &nbsp;&nbsp;&nbsp;Series 2022-6, Class A (3.670% to 7-20-25, then 4.420% thereafter)<br> 3.670%, 01/22/2029 | 1083000 | &nbsp;&nbsp;&nbsp;&nbsp;1048709 |
| World Omni Automobile Lease<br> Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A3<br> 3.210%, 02/18/2025 | &nbsp;&nbsp;669000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654661 |
| &nbsp;&nbsp;&nbsp;Series 2022-A, Class A4<br> 3.340%, 06/15/2027 | &nbsp;&nbsp;394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384092 |
| TOTAL ASSET BACKED SECURITIES (Cost $96,452,259) |  | $&nbsp;&nbsp;90945484 |
| **SHORT-TERM INVESTMENTS – 0.8%** | **SHORT-TERM INVESTMENTS – 0.8%** |  |
| **Short-term funds – 0.8%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (F) | 6153473 | &nbsp;&nbsp;&nbsp;&nbsp;6153473 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,153,473) | TOTAL SHORT-TERM INVESTMENTS (Cost $6,153,473) | $&nbsp;&nbsp;&nbsp;&nbsp;6153473 |
| **Total Investments (Core Bond Trust)<br> (Cost $887,194,907) – 103.7%** | **Total Investments (Core Bond Trust)<br> (Cost $887,194,907) – 103.7%** | $**814831140** |
| **Other assets and liabilities, net – (3.7%)** |  | **(29366460)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**785464680** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (C) | Security purchased or sold on a when-issued or delayed delivery basis. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 30 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Core Bond Trust (continued)
(D) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions
exempt from registration. Rule 144A securities amounted to $91,140,463 or 11.6% of the fund's net assets as of 12-31-22.

(E) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The
interest rate shown is the current rate as of period end.

(F) The rate shown is the annualized seven-day yield as of 12-31-22.

#### High Yield Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.3%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.3%** |  |
| **Argentina – 0.3%** |  |  |
| Provincia de Buenos Aires<br> 5.250%, (5.250% to 9-1-23, then 6.375% to 9-1-24, then 6.625% thereafter), 09/01/2037 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756976 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261157 |
| Republic of Argentina |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, (0.500% to 7-9-23, then 0.750% to 7-9-27, then 1.750% thereafter), 07/09/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161444 |
| &nbsp;&nbsp;&nbsp;1.000%, 07/09/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15681 |
| &nbsp;&nbsp;&nbsp;1.500%, (1.500% to 7-9-23, then 3.625% to 7-9-24, then 4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter), 07/09/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133562 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571844 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $1,077,014) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $1,077,014) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571844 |
| **CORPORATE BONDS – 82.9%** | **CORPORATE BONDS – 82.9%** |  |
| **Communication services – 10.9%** |  |  |
| Accelerate360 Holdings LLC<br> 8.000%, 03/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765788 |
| Allen Media LLC<br> 10.500%, 02/15/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558600 |
| Altice Financing SA<br> 5.750%, 08/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613519 |
| Altice France Holding SA<br> 10.500%, 05/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488000 |
| Altice France SA<br> 5.125%, 07/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442348 |
| AMC Entertainment Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 02/15/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392309 |
| &nbsp;&nbsp;&nbsp;10.000%, 06/15/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133650 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 to 01/15/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170699 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512216 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217880 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437778 |
| Charter Communications Operating LLC<br> 6.484%, 10/23/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207408 |
| Clear Channel Outdoor Holdings, Inc.<br> 7.500%, 06/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558045 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 12/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169399 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184371 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338394 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654000 |
| Directv Financing LLC<br> 5.875%, 08/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635209 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 06/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645110 |
| &nbsp;&nbsp;&nbsp;5.750%, 12/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718313 |

---

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| DISH DBS Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 11/15/2024 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;464617 |
| &nbsp;&nbsp;&nbsp;7.750%, 07/01/2026 | &nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;701559 |
| Gannett Holdings LLC<br> 6.000%, 11/01/2026 (A)(B) | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;505300 |
| iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2028 (A) | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;154725 |
| &nbsp;&nbsp;&nbsp;5.250%, 08/15/2027 (A) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;347304 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 10/01/2031 (A) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;368095 |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2028 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;312011 |
| Playtika Holding Corp.<br> 4.250%, 03/15/2029 (A) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;384626 |
| Sabre GLBL, Inc.<br> 11.250%, 12/15/2027 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;483971 |
| Sprint Capital Corp.<br> 8.750%, 03/15/2032 | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;136862 |
| Sprint Corp.<br> 7.625%, 02/15/2025 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;526490 |
| Sprint LLC<br> 7.875%, 09/15/2023 | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;679371 |
| Time Warner Cable LLC<br> 7.300%, 07/01/2038 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;218234 |
| UPC Holding BV<br> 5.500%, 01/15/2028 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;381625 |
| Urban One, Inc.<br> 7.375%, 02/01/2028 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;287405 |
| Viavi Solutions, Inc.<br> 3.750%, 10/01/2029 (A) | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;226923 |
| Virgin Media Secured Finance PLC<br> 5.500%, 05/15/2029 (A) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;295607 |
| Virgin Media Vendor Financing Notes IV DAC<br> 5.000%, 07/15/2028 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;410830 |
| Vmed O2 UK Financing I PLC<br> 4.750%, 07/15/2031 (A) | &nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;739239 |
| ZipRecruiter, Inc.<br> 5.000%, 01/15/2030 (A) | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;272059 |
| ZoomInfo Technologies LLC<br> 3.875%, 02/01/2029 (A) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;588268 |
|  |  | 18328157 |
| **Consumer discretionary – 16.6%** |  |  |
| Academy, Ltd.<br> 6.000%, 11/15/2027 (A) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;239343 |
| Adtalem Global Education, Inc.<br> 5.500%, 03/01/2028 (A) | &nbsp;&nbsp;511000 | &nbsp;&nbsp;&nbsp;&nbsp;463733 |
| American Axle & Manufacturing, Inc.<br> 5.000%, 10/01/2029 (B) | 1080000 | &nbsp;&nbsp;&nbsp;&nbsp;870774 |
| American News Company LLC<br> 8.500%, (8.500% Cash or 10.000% PIK), 09/01/2026 (A) | &nbsp;&nbsp;580247 | &nbsp;&nbsp;&nbsp;&nbsp;646975 |
| Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 02/01/2028 | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;854358 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/15/2029 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;157952 |
| &nbsp;&nbsp;&nbsp;9.375%, 07/01/2025 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;362163 |
| Bed Bath & Beyond, Inc.<br> 5.165%, 08/01/2044 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 |
| Boyne USA, Inc.<br> 4.750%, 05/15/2029 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;442522 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 10/15/2029 (A) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;488286 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2025 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;349803 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.625%, 03/01/2026 (A) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;388371 |
| &nbsp;&nbsp;&nbsp;10.500%, 06/01/2030 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;382322 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 31 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Carnival Holdings Bermuda, Ltd.<br> 10.375%, 05/01/2028 (A) | $&nbsp;&nbsp;510000 | $&nbsp;&nbsp;&nbsp;&nbsp;523571 |
| Carriage Purchaser, Inc.<br> 7.875%, 10/15/2029 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;511200 |
| Carriage Services, Inc.<br> 4.250%, 05/15/2029 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;508223 |
| Carrols Restaurant Group, Inc.<br> 5.875%, 07/01/2029 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;245302 |
| Dornoch Debt Merger Sub, Inc.<br> 6.625%, 10/15/2029 (A) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;287638 |
| Empire Communities Corp.<br> 7.000%, 12/15/2025 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;587705 |
| Fertitta Entertainment LLC<br> 4.625%, 01/15/2029 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;541590 |
| Fontainebleau Las Vegas Holdings LLC<br> 10.250%, 06/15/2015 (A)(C) | 3600425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 |
| Foot Locker, Inc.<br> 4.000%, 10/01/2029 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;498579 |
| Ford Motor Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 02/12/2032 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;299977 |
| &nbsp;&nbsp;&nbsp;6.100%, 08/19/2032 | 1170000 | 1080328 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;664880 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/28/2027 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;307857 |
| &nbsp;&nbsp;&nbsp;5.113%, 05/03/2029 | 1100000 | &nbsp;&nbsp;&nbsp;&nbsp;996100 |
| &nbsp;&nbsp;&nbsp;5.125%, 06/16/2025 | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;442217 |
| Full House Resorts, Inc.<br> 8.250%, 02/15/2028 (A) | 1160000 | 1026960 |
| Installed Building Products, Inc.<br> 5.750%, 02/01/2028 (A) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;368650 |
| Melco Resorts Finance, Ltd.<br> 5.375%, 12/04/2029 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;271861 |
| Mohegan Tribal Gaming Authority<br> 13.250%, 12/15/2027 (A) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;594225 |
| NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 02/15/2027 (A) | 2260000 | 1957831 |
| &nbsp;&nbsp;&nbsp;7.750%, 02/15/2029 (A) | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;459049 |
| NMG Holding Company, Inc.<br> 7.125%, 04/01/2026 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;281180 |
| PetSmart, Inc.<br> 7.750%, 02/15/2029 (A) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;234798 |
| Rent-A-Center, Inc.<br> 6.375%, 02/15/2029 (A) | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;639069 |
| Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/31/2026 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;538400 |
| &nbsp;&nbsp;&nbsp;11.625%, 08/15/2027 (A) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;572411 |
| Sands China, Ltd.<br> 5.900%, 08/08/2028 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;187261 |
| Sizzling Platter LLC<br> 8.500%, 11/28/2025 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;395642 |
| Speedway Motorsports LLC<br> 4.875%, 11/01/2027 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;283956 |
| StoneMor, Inc.<br> 8.500%, 05/15/2029 (A) | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;632000 |
| Sugarhouse HSP Gaming Prop Mezz LP<br> 5.875%, 05/15/2025 (A) | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;252039 |
| The Michaels Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/01/2028 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;289631 |
| &nbsp;&nbsp;&nbsp;7.875%, 05/01/2029 (A) | 1070000 | &nbsp;&nbsp;&nbsp;&nbsp;714940 |
| TopBuild Corp.<br> 3.625%, 03/15/2029 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;262370 |
| Viking Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 09/15/2027 (A) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;138578 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/15/2029 (A) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;405475 |
| &nbsp;&nbsp;&nbsp;13.000%, 05/15/2025 (A) | &nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;960102 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| VOC Escrow, Ltd.<br> 5.000%, 02/15/2028 (A) | $1345000 | $&nbsp;&nbsp;&nbsp;1156835 |
| WW International, Inc.<br> 4.500%, 04/15/2029 (A) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;399672 |
| Wynn Macau, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 10/01/2024 (A)(B) | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;292683 |
| &nbsp;&nbsp;&nbsp;5.125%, 12/15/2029 (A) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;210363 |
| &nbsp;&nbsp;&nbsp;5.625%, 08/26/2028 (A) | &nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;785763 |
| Wynn Resorts Finance LLC<br> 7.750%, 04/15/2025 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;358004 |
|  |  | 27879877 |
| **Consumer staples – 0.9%** |  |  |
| Darling Ingredients, Inc.<br> 6.000%, 06/15/2030 (A) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;283475 |
| Edgewell Personal Care Company<br> 4.125%, 04/01/2029 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;289843 |
| Simmons Foods, Inc.<br> 4.625%, 03/01/2029 (A) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;480291 |
| Triton Water Holdings, Inc.<br> 6.250%, 04/01/2029 (A) | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;489305 |
|  |  | &nbsp;&nbsp;&nbsp;1542914 |
| **Energy – 12.3%** |  |  |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;398657 |
| Apache Corp.<br> 7.750%, 12/15/2029 (B) | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;324121 |
| Berry Petroleum Company LLC<br> 7.000%, 02/15/2026 (A) | 1290000 | &nbsp;&nbsp;&nbsp;1184782 |
| Blue Racer Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 07/15/2026 (A) | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;648540 |
| &nbsp;&nbsp;&nbsp;7.625%, 12/15/2025 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;347394 |
| Cheniere Energy Partners LP<br> 4.000%, 03/01/2031 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;400139 |
| Chesapeake Energy Corp.<br> 5.500%, 02/01/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77198 |
| Chord Energy Corp.<br> 6.375%, 06/01/2026 (A) | &nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;964191 |
| CNX Midstream Partners LP<br> 4.750%, 04/15/2030 (A) | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;607292 |
| Colgate Energy Partners III LLC<br> 5.875%, 07/01/2029 (A) | 1320000 | &nbsp;&nbsp;&nbsp;1133696 |
| Comstock Resources, Inc.<br> 5.875%, 01/15/2030 (A) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;326686 |
| DCP Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;6.450%, 11/03/2036 (A) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;274378 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2037 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;201598 |
| Earthstone Energy Holdings LLC<br> 8.000%, 04/15/2027 (A) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;248729 |
| Endeavor Energy Resources LP<br> 5.750%, 01/30/2028 (A) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;392583 |
| Energy Transfer LP<br> 6.500%, (6.500% to 11-15-26, then 5 Year CMT + 5.694%), 11/15/2026 (D) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;154800 |
| EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 08/01/2024 | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;115316 |
| &nbsp;&nbsp;&nbsp;5.500%, 07/15/2028 | &nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;500728 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/01/2027 (A) | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;210265 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/15/2048 | 1460000 | &nbsp;&nbsp;&nbsp;1094380 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/01/2030 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;346867 |
| Hilcorp Energy I LP<br> 6.250%, 04/15/2032 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;457345 |
| Howard Midstream Energy Partners LLC<br> 6.750%, 01/15/2027 (A) | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;584713 |
| MEG Energy Corp.<br> 7.125%, 02/01/2027 (A) | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;846510 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 32 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Nabors Industries, Ltd.<br> 7.250%, 01/15/2026 (A) | $&nbsp;&nbsp;620000 | $&nbsp;&nbsp;&nbsp;&nbsp;584287 |
| Neptune Energy Bondco PLC<br> 6.625%, 05/15/2025 (A) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;242752 |
| Northern Oil and Gas, Inc.<br> 8.125%, 03/01/2028 (A) | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;816165 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 02/15/2047 | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91660 |
| &nbsp;&nbsp;&nbsp;4.400%, 04/15/2046 | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;140584 |
| &nbsp;&nbsp;&nbsp;6.125%, 01/01/2031 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;333033 |
| &nbsp;&nbsp;&nbsp;6.600%, 03/15/2046 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;401306 |
| &nbsp;&nbsp;&nbsp;8.875%, 07/15/2030 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;553212 |
| Petrobras Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 02/01/2029 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97125 |
| &nbsp;&nbsp;&nbsp;6.850%, 06/05/2115 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;347225 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2030 (A) | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;105733 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2029 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;504918 |
| ROCC Holdings LLC<br> 9.250%, 08/15/2026 (A) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;995601 |
| Southwestern Energy Company<br> 4.750%, 02/01/2032 | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;675126 |
| Summit Midstream Holdings LLC<br> 8.500%, 10/15/2026 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;304774 |
| Tallgrass Energy Partners LP<br> 6.000%, 12/31/2030 (A) | &nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;631253 |
| Venture Global Calcasieu Pass LLC<br> 3.875%, 11/01/2033 (A) | &nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;669858 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, 02/01/2025 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;501497 |
| &nbsp;&nbsp;&nbsp;5.450%, 04/01/2044 | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;515046 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2050 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;288330 |
|  |  | 20640393 |
| **Financials – 9.6%** |  |  |
| Acuris Finance U.S., Inc.<br> 5.000%, 05/01/2028 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;159500 |
| AFC Gamma, Inc.<br> 5.750%, 05/01/2027 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;411477 |
| Apollo Commercial Real Estate Finance, Inc.<br> 4.625%, 06/15/2029 (A) | &nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;568277 |
| Barclays PLC<br> 8.000%, (8.000% to 6-15-24, then 5 Year CMT + 5.672%), 06/15/2024 (D) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;369210 |
| BNP Paribas SA<br> 7.375%, (7.375% to 8-19-25, then 5 Year U.S. Swap Rate + 5.150%), 08/19/2025 (A)(D) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;385623 |
| Bread Financial Holdings, Inc.<br> 4.750%, 12/15/2024 (A) | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;452236 |
| Burford Capital Global Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 04/15/2028 (A) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;559824 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/15/2030 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;444923 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.950%, (5.950% to 5-15-25, then 3 month LIBOR + 3.905%), 05/15/2025 (D) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;162126 |
| &nbsp;&nbsp;&nbsp;6.300%, (6.300% to 5-15-24, then 3 month LIBOR + 3.423%), 05/15/2024 (D) | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;386733 |
| Coinbase Global, Inc.<br> 3.625%, 10/01/2031 (A) | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;260070 |
| Compass Group Diversified Holdings LLC<br> 5.250%, 04/15/2029 (A) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;359432 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Credit Agricole SA<br> 8.125%, (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%), 12/23/2025 (A)(D) | $&nbsp;&nbsp;340000 | $&nbsp;&nbsp;&nbsp;&nbsp;344080 |
| Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, (6.375% to 8-21-26, then 5 Year CMT + 4.822%), 08/21/2026 (A)(D) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;308167 |
| &nbsp;&nbsp;&nbsp;6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (A) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;421149 |
| &nbsp;&nbsp;&nbsp;7.250%, (7.250% to 9-12-25, then 5 Year ICE Swap Rate + 4.332%), 09/12/2025 (A)(D) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;143772 |
| &nbsp;&nbsp;&nbsp;9.750%, (9.750% to 6-23-27, then 5 Year CMT + 6.383%), 06/23/2027 (A)(D) | &nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;766539 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;465319 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (A) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;391629 |
| Global Aircraft Leasing Company, Ltd.<br> 6.500%, (6.500% Cash or 7.250% PIK), 09/15/2024 (A) | 2025678 | &nbsp;&nbsp;&nbsp;1721826 |
| Highlands Holdings Bond Issuer, Ltd.<br> 7.625%, (7.625% Cash or 8.375% PIK), 10/15/2025 (A) | &nbsp;&nbsp;945962 | &nbsp;&nbsp;&nbsp;&nbsp;879828 |
| Intesa Sanpaolo SpA<br> 4.198%, (4.198% to 6-1-31, then 1 Year CMT + 2.600%), 06/01/2032 (A) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;337966 |
| Jane Street Group<br> 4.500%, 11/15/2029 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;275200 |
| Ladder Capital Finance Holdings LLLP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2027 (A) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;386413 |
| &nbsp;&nbsp;&nbsp;4.750%, 06/15/2029 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;242208 |
| LD Holdings Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2028 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;217872 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/01/2025 (A) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;471707 |
| Midcap Financial Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 01/15/2030 (A) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;307739 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/01/2028 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;369800 |
| NMI Holdings, Inc.<br> 7.375%, 06/01/2025 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;656500 |
| Rocket Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 03/01/2031 (A) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;480864 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/15/2033 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;485459 |
| Ryan Specialty Group LLC<br> 4.375%, 02/01/2030 (A) | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;450266 |
| StoneX Group, Inc.<br> 8.625%, 06/15/2025 (A) | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;272700 |
| UBS Group AG<br> 7.000%, (7.000% to 1-31-24, then 5 Year U.S. Swap Rate + 4.344%), 01/31/2024 (A)(D) | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;541103 |
| UniCredit SpA<br> 5.459%, (5.459% to 6-30-30, then 5 Year CMT + 4.750%), 06/30/2035 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;584963 |
|  |  | 16042500 |
| **Health care – 5.0%** |  |  |
| AdaptHealth LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2029 (A) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;385135 |
| &nbsp;&nbsp;&nbsp;5.125%, 03/01/2030 (A) | &nbsp;&nbsp;760000 | &nbsp;&nbsp;&nbsp;&nbsp;646980 |
| Akumin, Inc.<br> 7.000%, 11/01/2025 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;515633 |
| AthenaHealth Group, Inc.<br> 6.500%, 02/15/2030 (A) | &nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;545330 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 33 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Bausch Health Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 01/30/2030 (A) | $&nbsp;&nbsp;600000 | $&nbsp;&nbsp;&nbsp;&nbsp;287796 |
| &nbsp;&nbsp;&nbsp;6.125%, 02/01/2027 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;248267 |
| &nbsp;&nbsp;&nbsp;6.250%, 02/15/2029 (A) | 1220000 | &nbsp;&nbsp;&nbsp;&nbsp;587354 |
| Cano Health LLC<br> 6.250%, 10/01/2028 (A) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;254100 |
| Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 05/15/2030 (A) | 1073000 | &nbsp;&nbsp;&nbsp;&nbsp;809082 |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2030 (A) | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;84180 |
| Legacy LifePoint Health LLC<br> 6.750%, 04/15/2025 (A) | &nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;357614 |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/01/2029 (A) | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;193430 |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2029 (A) | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;413020 |
| Par Pharmaceutical, Inc.<br> 7.500%, 04/01/2027 (A) | 1170000 | &nbsp;&nbsp;&nbsp;&nbsp;889170 |
| Radiology Partners, Inc.<br> 9.250%, 02/01/2028 (A) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;28068 |
| Tenet Healthcare Corp.<br> 4.625%, 06/15/2028 (A) | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;393686 |
| Teva Pharmaceutical Finance Netherlands III BV<br> 5.125%, 05/09/2029 (B) | 1640000 | 1460497 |
| U.S. Renal Care, Inc.<br> 10.625%, 07/15/2027 (A) | &nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;208800 |
|  |  | 8308142 |
| **Industrials – 14.4%** |  |  |
| Advanced Drainage Systems, Inc.<br> 6.375%, 06/15/2030 (A) | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;340081 |
| AerCap Ireland Capital DAC<br> 3.300%, 01/30/2032 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;125082 |
| Air Canada<br> 3.875%, 08/15/2026 (A) | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;407437 |
| Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 06/01/2028 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;583735 |
| &nbsp;&nbsp;&nbsp;6.625%, 07/15/2026 (A) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;640500 |
| Alta Equipment Group, Inc.<br> 5.625%, 04/15/2026 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;585062 |
| American Airlines, Inc.<br> 5.750%, 04/20/2029 (A) | 1110000 | 1014491 |
| Anagram International, Inc.<br> 10.000%, (0.000% Cash and 10.000% PIK), 08/15/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;87392 | &nbsp;&nbsp;&nbsp;&nbsp;57679 |
| ATS Corp.<br> 4.125%, 12/15/2028 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;258828 |
| Bombardier, Inc.<br> 7.875%, 04/15/2027 (A) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;572286 |
| Brundage-Bone Concrete Pumping Holdings, Inc.<br> 6.000%, 02/01/2026 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;592570 |
| Chart Industries, Inc.<br> 7.500%, 01/01/2030 (A) | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;693650 |
| CoreCivic, Inc.<br> 8.250%, 04/15/2026 | 1070000 | 1097285 |
| Covanta Holding Corp.<br> 4.875%, 12/01/2029 (A) | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;417828 |
| Delta Air Lines, Inc.<br> 4.750%, 10/20/2028 (A) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;441787 |
| Doman Building Materials Group, Ltd.<br> 5.250%, 05/15/2026 (A) | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;183919 |
| Foundation Building Materials, Inc.<br> 6.000%, 03/01/2029 (A) | $&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;224611 |
| GEO Group, Inc.<br> 10.500%, 06/30/2028 | &nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;612949 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| H&E Equipment Services, Inc.<br> 3.875%, 12/15/2028 (A) | $920000 | $&nbsp;&nbsp;&nbsp;&nbsp;783647 |
| Hawaiian Brand Intellectual Property, Ltd.<br> 5.750%, 01/20/2026 (A) | 510000 | &nbsp;&nbsp;&nbsp;&nbsp;461550 |
| Legends Hospitality Holding Company LLC<br> 5.000%, 02/01/2026 (A) | 850000 | &nbsp;&nbsp;&nbsp;&nbsp;756500 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 06/30/2028 (A) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75261 |
| &nbsp;&nbsp;&nbsp;5.875%, 06/30/2029 (A) | 550000 | &nbsp;&nbsp;&nbsp;&nbsp;376969 |
| Mileage Plus Holdings LLC<br> 6.500%, 06/20/2027 (A) | 450029 | &nbsp;&nbsp;&nbsp;&nbsp;447420 |
| MIWD Holdco II LLC<br> 5.500%, 02/01/2030 (A) | 870000 | &nbsp;&nbsp;&nbsp;&nbsp;692651 |
| Park-Ohio Industries, Inc.<br> 6.625%, 04/15/2027 | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;183422 |
| PGT Innovations, Inc.<br> 4.375%, 10/01/2029 (A) | 360000 | &nbsp;&nbsp;&nbsp;&nbsp;301407 |
| PM General Purchaser LLC<br> 9.500%, 10/01/2028 (A) | 680000 | &nbsp;&nbsp;&nbsp;&nbsp;518331 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, 04/15/2026 (A) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;452375 |
| &nbsp;&nbsp;&nbsp;6.250%, 01/15/2028 (A) | 920000 | &nbsp;&nbsp;&nbsp;&nbsp;837347 |
| Resideo Funding, Inc.<br> 4.000%, 09/01/2029 (A) | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;509387 |
| Roller Bearing Company of America, Inc.<br> 4.375%, 10/15/2029 (A) | 730000 | &nbsp;&nbsp;&nbsp;&nbsp;631231 |
| Smyrna Ready Mix Concrete LLC<br> 6.000%, 11/01/2028 (A) | 770000 | &nbsp;&nbsp;&nbsp;&nbsp;688919 |
| Spirit Loyalty Cayman, Ltd.<br> 8.000%, 09/20/2025 (A) | 706000 | &nbsp;&nbsp;&nbsp;&nbsp;708579 |
| The ADT Security Corp.<br> 4.125%, 08/01/2029 (A) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;425228 |
| The GEO Group, Inc.<br> 9.500%, 12/31/2028 (A)(B) | 945000 | &nbsp;&nbsp;&nbsp;&nbsp;899583 |
| Titan International, Inc.<br> 7.000%, 04/30/2028 | 670000 | &nbsp;&nbsp;&nbsp;&nbsp;632561 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 01/15/2029 | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;395672 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/15/2027 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;234763 |
| &nbsp;&nbsp;&nbsp;8.000%, 12/15/2025 (A) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;202958 |
| United Airlines 2020-1 Class B Pass Through Trust<br> 4.875%, 01/15/2026 | 228600 | &nbsp;&nbsp;&nbsp;&nbsp;215155 |
| United Airlines, Inc.<br> 4.625%, 04/15/2029 (A) | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;200260 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | 510000 | &nbsp;&nbsp;&nbsp;&nbsp;427528 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2028 | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;606496 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/15/2030 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;375832 |
| &nbsp;&nbsp;&nbsp;6.000%, 12/15/2029 (A) | 480000 | &nbsp;&nbsp;&nbsp;&nbsp;477000 |
| Vertiv Group Corp.<br> 4.125%, 11/15/2028 (A) | 760000 | &nbsp;&nbsp;&nbsp;&nbsp;646000 |
| VistaJet Malta Finance PLC<br> 6.375%, 02/01/2030 (A) | 690000 | &nbsp;&nbsp;&nbsp;&nbsp;553259 |
| XPO CNW, Inc.<br> 6.700%, 05/01/2034 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;327561 |
| XPO Escrow Sub LLC<br> 7.500%, 11/15/2027 (A) | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;161907 |
|  |  | 24056539 |
| **Information technology – 3.8%** |  |  |
| CA Magnum Holdings<br> 5.375%, 10/31/2026 (A) | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;373604 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 34 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Central Parent, Inc.<br> 7.250%, 06/15/2029 (A) | $&nbsp;&nbsp;650000 | $&nbsp;&nbsp;&nbsp;&nbsp;635779 |
| Clarivate Science Holdings Corp.<br> 4.875%, 07/01/2029 (A) | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;221091 |
| CommScope, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 09/01/2029 (A) | 1500000 | 1209300 |
| &nbsp;&nbsp;&nbsp;8.250%, 03/01/2027 (A) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;496000 |
| Elastic NV<br> 4.125%, 07/15/2029 (A) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;460389 |
| Gen Digital, Inc.<br> 7.125%, 09/30/2030 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;334050 |
| Helios Software Holdings, Inc.<br> 4.625%, 05/01/2028 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;402787 |
| NCR Corp.<br> 5.125%, 04/15/2029 (A) | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;158901 |
| Open Text Corp.<br> 6.900%, 12/01/2027 (A) | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;360000 |
| Paysafe Finance PLC<br> 4.000%, 06/15/2029 (A) | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;625725 |
| Rackspace Technology Global, Inc.<br> 3.500%, 02/15/2028 (A) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;366106 |
| Vericast Corp.<br> 11.000%, 09/15/2026 (A) | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;693063 |
|  |  | 6336795 |
| **Materials – 5.4%** |  |  |
| ARD Finance SA<br> 6.500%, (6.500% Cash or 7.250% PIK), 06/30/2027 (A) | &nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;459051 |
| Ardagh Metal Packaging Finance<br> USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 09/01/2029 (A) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;634022 |
| &nbsp;&nbsp;&nbsp;6.000%, 06/15/2027 (A) | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;313262 |
| Ardagh Packaging Finance PLC<br> 5.250%, 08/15/2027 (A) | &nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;515942 |
| Canpack SA<br> 3.875%, 11/15/2029 (A) | &nbsp;&nbsp;910000 | &nbsp;&nbsp;&nbsp;&nbsp;717134 |
| Cascades, Inc.<br> 5.375%, 01/15/2028 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;463993 |
| Clydesdale Acquisition Holdings, Inc.<br> 6.625%, 04/15/2029 (A) | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;199658 |
| First Quantum Minerals, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 03/01/2024 (A) | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;410871 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/01/2026 to 10/15/2027 (A) | 1450000 | 1367374 |
| &nbsp;&nbsp;&nbsp;7.500%, 04/01/2025 (A) | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;204401 |
| Freeport-McMoRan, Inc.<br> 5.450%, 03/15/2043 | 1870000 | 1686815 |
| Hudbay Minerals, Inc.<br> 6.125%, 04/01/2029 (A) | &nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;642940 |
| LSF11 A5 HoldCo LLC<br> 6.625%, 10/15/2029 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;437839 |
| Midwest Vanadium Proprietary, Ltd.<br> 13.250%, 02/15/2018 (A)(C) | &nbsp;&nbsp;912943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077 |
| Northwest Acquisitions ULC<br> 7.125%, 11/01/2022 (A)(C) | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
| Olin Corp.<br> 5.000%, 02/01/2030 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;383250 |
| Pactiv LLC<br> 8.375%, 04/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19400 |
| Summit Materials LLC<br> 5.250%, 01/15/2029 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;670338 |
|  |  | 9129377 |
| **Real estate – 2.7%** |  |  |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/01/2031 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;158565 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2028 | &nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;528938 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Diversified Healthcare Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;9.750%, 06/15/2025 | &nbsp;&nbsp;170000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162854 |
| Five Point Operating Company LP<br> 7.875%, 11/15/2025 (A) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672497 |
| Forestar Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 05/15/2026 (A) | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482180 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2028 (A) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214491 |
| IIP Operating Partnership LP<br> 5.500%, 05/25/2026 | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841197 |
| Iron Mountain Information Management Services, Inc.<br> 5.000%, 07/15/2032 (A) | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373815 |
| MPT Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 03/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137097 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2029 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198272 |
| Park Intermediate Holdings LLC<br> 5.875%, 10/01/2028 (A) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353522 |
| Service Properties Trust<br> 5.500%, 12/15/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344465 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4467893 |
| **Utilities – 1.3%** |  |  |
| Calpine Corp.<br> 3.750%, 03/01/2031 (A) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241547 |
| Suburban Propane Partners LP<br> 5.000%, 06/01/2031 (A) | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288994 |
| Sunnova Energy Corp.<br> 5.875%, 09/01/2026 (A)(B) | 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;1072068 |
| Superior Plus LP<br> 4.500%, 03/15/2029 (A) | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247950 |
| TransAlta Corp.<br> 7.750%, 11/15/2029 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316597 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2167156 |
| TOTAL CORPORATE BONDS (Cost $166,259,217) |  | $138899743 |
| **CONVERTIBLE BONDS – 0.9%** | **CONVERTIBLE BONDS – 0.9%** |  |
| **Communication services – 0.2%** |  |  |
| DISH Network Corp.<br> 3.375%, 08/15/2026 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332045 |
| Liberty TripAdvisor Holdings, Inc.<br> 0.500%, 06/30/2051 (A) | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396575 |
| **Consumer discretionary – 0.3%** |  |  |
| DraftKings Holdings, Inc.<br> 9.525%, 03/15/2028 (E) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371100 |
| Liberty Latin America, Ltd.<br> 2.000%, 07/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433225 |
| **Financials – 0.1%** |  |  |
| Blackstone Mortgage Trust, Inc.<br> 5.500%, 03/15/2027 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162331 |
| **Industrials – 0.2%** |  |  |
| Spirit Airlines, Inc.<br> 1.000%, 05/15/2026 | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289800 |
| **Utilities – 0.1%** |  |  |
| NextEra Energy Partners LP<br> 2.500%, 06/15/2026 (A) | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177270 |
| TOTAL CONVERTIBLE BONDS (Cost $1,881,670) |  | $&nbsp;&nbsp;&nbsp;1459201 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 35 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (F) – 4.6%** | **TERM LOANS (F) – 4.6%** |  |
| **Consumer discretionary – 1.6%** |  |  |
| Adtalem Global Education, Inc., 2021 Term Loan B (1 month LIBOR + 4.000%) 8.389%, 08/12/2028 | $287116 | $&nbsp;&nbsp;&nbsp;&nbsp;284449 |
| Equinox Holdings, Inc. , 2020 Term Loan B2 (3 month LIBOR + 9.000%) 13.730%, 03/08/2024 | 370500 | &nbsp;&nbsp;&nbsp;&nbsp;294548 |
| First Brands Group LLC, 2021 Term Loan (3 month SOFR + 5.000%) 8.368%, 03/30/2027 | 343875 | &nbsp;&nbsp;&nbsp;&nbsp;324618 |
| Great Outdoors Group LLC, 2021 Term Loan B1 (1 month LIBOR + 3.750%) 8.134%, 03/06/2028 | 323431 | &nbsp;&nbsp;&nbsp;&nbsp;310089 |
| Rent-A-Center, Inc., 2021 First Lien Term Loan B (3 month LIBOR + 3.250%) 7.688%, 02/17/2028 | 589500 | &nbsp;&nbsp;&nbsp;&nbsp;566657 |
| Spencer Spirit IH LLC, Term Loan B (1 month LIBOR + 6.000%) 10.172%, 06/19/2026 | 582949 | &nbsp;&nbsp;&nbsp;&nbsp;571290 |
| Truck Hero, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) 8.134%, 01/31/2028 | 343875 | &nbsp;&nbsp;&nbsp;&nbsp;293583 |
|  |  | 2645234 |
| **Financials – 0.6%** |  |  |
| Acrisure LLC, 2020 Term Loan B (1 month LIBOR + 3.500%) 7.884%, 02/15/2027 | 447350 | &nbsp;&nbsp;&nbsp;&nbsp;418831 |
| Asurion LLC, 2022 Term Loan B10 (3 month SOFR + 4.000%) 8.680%, 08/19/2028 | 399000 | &nbsp;&nbsp;&nbsp;&nbsp;355210 |
| Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan (1 month LIBOR + 6.750%) 11.134%, 04/07/2028 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;180025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;954066 |
| **Health care – 0.6%** |  |  |
| Eyecare Partners LLC, 2020 Term Loan (3 month LIBOR + 3.750%) 8.480%, 02/18/2027 | 487020 | &nbsp;&nbsp;&nbsp;&nbsp;387994 |
| Eyecare Partners LLC, 2022 Incremental Term Loan (3 month SOFR + 4.500%) 9.180%, 11/15/2028 | 380000 | &nbsp;&nbsp;&nbsp;&nbsp;329175 |
| U.S. Renal Care, Inc., 2019 Term Loan B (1 month LIBOR + 5.000%) 9.438%, 06/26/2026 | 637839 | &nbsp;&nbsp;&nbsp;&nbsp;353382 |
|  |  | 1070551 |
| **Industrials – 0.2%** |  |  |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 9.996%, 06/21/2027 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;416036 |
| **Information technology – 1.3%** |  |  |
| Dcert Buyer, Inc., 2021 2nd Lien Term Loan (6 month LIBOR + 7.000%) 11.696%, 02/19/2029 | 820000 | &nbsp;&nbsp;&nbsp;&nbsp;745380 |
| Global Tel\*Link Corp., 2018 1st Lien Term Loan (3 month LIBOR + 4.250%) 8.344%, 11/29/2025 | 646368 | &nbsp;&nbsp;&nbsp;&nbsp;555476 |
| Peraton Corp., Term Loan B (1 month LIBOR + 3.750%) 8.134%, 02/01/2028 | 414783 | &nbsp;&nbsp;&nbsp;&nbsp;404327 |
| Redstone Holdco 2 LP, 2021 Term Loan (3 month LIBOR + 4.750%) 9.108%, 04/27/2028 | 464125 | &nbsp;&nbsp;&nbsp;&nbsp;319415 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (F) (continued)** | **TERM LOANS (F) (continued)** |  |
| **Information technology (continued)** |  |  |
| Redstone Holdco 2 LP , 2021 2nd Lien Term Loan (3 month LIBOR + 7.750%) 12.108%, 04/27/2029 | 470000 | $&nbsp;&nbsp;&nbsp;&nbsp;231771 |
|  |  | 2256369 |
| **Materials – 0.3%** |  |  |
| Arctic Canadian Diamond Company, Ltd., 2nd Lien PIK Term Loan (3 month LIBOR + 4.000% or 12.500% PIK) 12.500%, 12/31/2027 (G) | 532692 | &nbsp;&nbsp;&nbsp;&nbsp;437660 |
| TOTAL TERM LOANS (Cost $9,035,881) | TOTAL TERM LOANS (Cost $9,035,881) | $7779916 |
| **ASSET BACKED SECURITIES – 6.9%** | **ASSET BACKED SECURITIES – 6.9%** |  |
| AIG CLO, Ltd.<br> Series 2018-1A, Class DR (3 month LIBOR + 3.100%)<br> 7.343%, 04/20/2032 (A)(H) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;239136 |
| Aimco CLO, Ltd.<br> Series 2020-12A, Class DR (3 month CME Term SOFR + 2.900%)<br> 6.764%, 01/17/2032 (A)(H) | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;319686 |
| Balboa Bay Loan Funding, Ltd.<br> Series 2020-1A, Class ER (3 month LIBOR + 6.400%)<br> 10.643%, 01/20/2032 (A)(H) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;445186 |
| Ballyrock CLO, Ltd.<br> Series 2022-19A, Class D (3 month CME Term SOFR + 7.110%)<br> 11.073%, 04/20/2035 (A)(H) | 710000 | &nbsp;&nbsp;&nbsp;&nbsp;627646 |
| Barings CLO, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-3A, Class D (3 month LIBOR + 2.900%)<br> 7.143%, 07/20/2029 (A)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;232051 |
| &nbsp;&nbsp;&nbsp;Series 2020-4A, Class E (3 month LIBOR + 5.680%)<br> 9.923%, 01/20/2032 (A)(H) | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;289835 |
| Battalion CLO, Ltd.<br> Series 2021-20A, Class D (3 month LIBOR + 3.100%)<br> 7.179%, 07/15/2034 (A)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;216970 |
| Benefit Street Partners CLO XII, Ltd.<br> Series 2017-12A, Class C (3 month LIBOR + 3.050%)<br> 7.129%, 10/15/2030 (A)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;226096 |
| BlueMountain CLO, Ltd.<br> Series 2016-2A, Class DR (3 month LIBOR + 7.790%)<br> 12.465%, 08/20/2032 (A)(H) | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;248150 |
| Bristol Park CLO, Ltd.<br> Series 2016-1A, Class ER (3 month LIBOR + 7.000%)<br> 11.079%, 04/15/2029 (A)(H) | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;507154 |
| Carlyle US CLO, Ltd.<br> Series 2017-2A, Class C (3 month LIBOR + 3.700%)<br> 7.943%, 07/20/2031 (A)(H) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;440757 |
| Catskill Park CLO, Ltd.<br> Series 2017-1A, Class D (3 month LIBOR + 6.000%)<br> 10.243%, 04/20/2029 (A)(H) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;411107 |
| Cook Park CLO, Ltd.<br> Series 2018-1A, Class E (3 month LIBOR + 5.400%)<br> 9.479%, 04/17/2030 (A)(H) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;196077 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 36 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Dryden CLO, Ltd.<br> Series 2019-75A, Class ER2 (3 month LIBOR + 6.600%)<br> 10.679%, 04/15/2034 (A)(H) | $470000 | $413515 |
| Dryden Senior Loan Fund<br> Series 2015-40A, Class DR (3 month LIBOR + 3.100%)<br> 7.706%, 08/15/2031 (A)(H) | 250000 | 224375 |
| Eaton Vance CLO, Ltd.<br> Series 2020-2A, Class ER (3 month LIBOR + 6.500%)<br> 10.579%, 01/15/2035 (A)(H) | 440000 | 395752 |
| Great Lakes CLO, Ltd.<br> Series 2014-1A, Class CR (3 month LIBOR + 2.700%)<br> 6.779%, 10/15/2029 (A)(H) | 400000 | 377512 |
| Greenwood Park CLO, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class D (3 month LIBOR + 2.500%)<br> 6.579%, 04/15/2031 (A)(H) | 290000 | 256146 |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class E (3 month LIBOR + 4.950%)<br> 9.029%, 04/15/2031 (A)(H) | 250000 | 201214 |
| Greywolf CLO IV, Ltd.<br> Series 2019-1A, Class CR (3 month CME Term SOFR + 3.910%)<br> 7.774%, 04/17/2034 (A)(H) | 250000 | 226310 |
| Grippen Park CLO, Ltd.<br> Series 2017-1A, Class E (3 month LIBOR + 5.700%)<br> 9.943%, 01/20/2030 (A)(H) | 420000 | 357743 |
| Jay Park CLO, Ltd.<br> Series 2016-1A, Class DR (3 month LIBOR + 5.200%)<br> 9.443%, 10/20/2027 (A)(H) | 350000 | 319195 |
| Magnetite XII, Ltd.<br> Series 2015-12A, Class ER (3 month LIBOR + 5.680%)<br> 9.759%, 10/15/2031 (A)(H) | 300000 | 269793 |
| Magnetite XXIV, Ltd.<br> Series 2019-24A, Class ER (3 month CME Term SOFR + 6.400%)<br> 10.264%, 04/15/2035 (A)(H) | 250000 | 206970 |
| MKS CLO, Ltd.<br> Series 2017-2A, Class D (3 month LIBOR + 2.650%)<br> 6.893%, 01/20/2031 (A)(H) | 500000 | 435822 |
| Mountain View CLO IX, Ltd.<br> Series 2015-9A, Class CR (3 month LIBOR + 3.120%)<br> 7.199%, 07/15/2031 (A)(H) | 250000 | 205956 |
| Neuberger Berman CLO XVIII, Ltd.<br> Series 2014-18A, Class DR2 (3 month LIBOR + 5.920%)<br> 10.198%, 10/21/2030 (A)(H) | 250000 | 223030 |
| Neuberger Berman Loan Advisers CLO XXXIV, Ltd.<br> Series 2019-34A, Class ER (3 month CME Term SOFR + 6.500%)<br> 10.463%, 01/20/2035 (A)(H) | 500000 | 425842 |
| Neuberger Berman Loan Advisers CLO, Ltd.<br> Series 2017-25A, Class DR (3 month LIBOR + 2.850%)<br> 7.044%, 10/18/2029 (A)(H) | 250000 | 229085 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| OHA Credit Funding, Ltd.<br> Series 2020-7A, Class DR (3 month CME Term SOFR + 3.100%)<br> 7.055%, 02/24/2037 (A)(H) | $&nbsp;&nbsp;&nbsp;&nbsp;250000 | $&nbsp;&nbsp;&nbsp;&nbsp;231924 |
| Palmer Square Loan Funding, Ltd.<br> Series 2022-3A, Class C (3 month CME Term SOFR + 5.400%)<br> 9.405%, 04/15/2031 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;377566 |
| Saranac CLO III, Ltd.<br> Series 2014-3A, Class DR (3 month LIBOR + 3.250%)<br> 8.003%, 06/22/2030 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;459114 |
| Sculptor CLO XXVI, Ltd.<br> Series 2026-A, Class E (3 month LIBOR + 7.250%)<br> 11.493%, 07/20/2034 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;244182 |
| Venture XVII CLO, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-17A, Class DRR (3 month LIBOR + 2.820%)<br> 6.899%, 04/15/2027 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;313706 |
| &nbsp;&nbsp;&nbsp;Series 2014-17A, Class ERR (3 month LIBOR + 5.740%)<br> 9.819%, 04/15/2027 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;262001 |
| Voya CLO III, Ltd.<br> Series 2020-3A, Class DR (3 month LIBOR + 3.250%)<br> 7.493%, 10/20/2034 (A)(H) | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;449783 |
| TOTAL ASSET BACKED SECURITIES (Cost $12,831,901) |  | $11506387 |
| **COMMON STOCKS – 0.5%** |  |  |
| **Communication services – 0.0%** |  |  |
| New Cotai, Inc., Class B (G)(I)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Vertis Holdings, Inc. (G)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Energy – 0.5%** |  |  |
| Berry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62206 | &nbsp;&nbsp;&nbsp;&nbsp;497648 |
| Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;360631 |
| KCAD Holdings I, Ltd. (G)(I)(J) | 165553563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 |
| MWO Holdings LLC (G)(I)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768 |
| Permian Production (G)(J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;872963 |
| TOTAL COMMON STOCKS (Cost $4,173,036) | TOTAL COMMON STOCKS (Cost $4,173,036) | $&nbsp;&nbsp;&nbsp;&nbsp;872963 |
| **PREFERRED SECURITIES – 0.8%** |  |  |
| **Energy – 0.3%** |  |  |
| MPLX LP, 8.461% (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16445 | &nbsp;&nbsp;&nbsp;&nbsp;538574 |
| **Financials – 0.5%** |  |  |
| B. Riley Financial, Inc., 5.000% (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13375 | &nbsp;&nbsp;&nbsp;&nbsp;280808 |
| B. Riley Financial, Inc., 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9825 | &nbsp;&nbsp;&nbsp;&nbsp;179208 |
| B. Riley Financial, Inc., 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13075 | &nbsp;&nbsp;&nbsp;&nbsp;254178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;714194 |
| TOTAL PREFERRED SECURITIES (Cost $1,441,338) | TOTAL PREFERRED SECURITIES (Cost $1,441,338) | $&nbsp;&nbsp;&nbsp;1252768 |
| **ESCROW CERTIFICATES – 0.0%** |  |  |
| Adelphia Communications Corp. (G)(J) | $&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (G)(J) | &nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Adelphia Communications Corp. (G)(J) | &nbsp;&nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Magellan Health, Inc. (G)(J) | &nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| TOTAL ESCROW CERTIFICATES (Cost $342,202) | TOTAL ESCROW CERTIFICATES (Cost $342,202) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 37 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.1%** | **SHORT-TERM INVESTMENTS – 2.1%** |  |
| **Short-term funds – 2.1%** |  |  |
| John Hancock Collateral Trust, 4.2988% (K)(L) | 334853 | $&nbsp;&nbsp;&nbsp;&nbsp;3347124 |
| State Street Institutional Treasury Plus Money Market Fund, Premier Class, 4.1338% (K) | 123212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123212 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,470,394) | TOTAL SHORT-TERM INVESTMENTS (Cost $3,470,394) | $&nbsp;&nbsp;&nbsp;&nbsp;3470336 |
| **Total Investments (High Yield Trust)<br> (Cost $200,512,653) – 99.0%** | **Total Investments (High Yield Trust)<br> (Cost $200,512,653) – 99.0%** | $**165813158** |
| **Other assets and liabilities, net – 1.0%** |  | &nbsp;&nbsp;&nbsp;**1680053** |
| **TOTAL NET ASSETS – 100.0%** |  | $**167493211** |

---

<u>Currency Abbreviations</u> <br> CAD Canadian Dollar

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |

---

---

| | |
|:---|:---|
| SOFR | Secured Overnight Financing Rate |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $120,752,984 or 72.1% of the fund's net assets as of 12-31-22. |
| (B) | All or a portion of this security is on loan as of 12-31-22. |
| (C) | Non-income producing - Issuer is in default. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (F) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (G) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (H) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (I) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |
| (J) | Non-income producing security. |
| (K) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (L) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$8751344 | &nbsp;&nbsp;&nbsp;&nbsp;$8742305 | &nbsp;&nbsp;&nbsp;&nbsp;$(9039) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(9039)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| EUR | &nbsp;&nbsp;442617 | &nbsp;&nbsp;USD | &nbsp;&nbsp;444715 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$29534 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;195721 | &nbsp;&nbsp;USD | &nbsp;&nbsp;9572 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;447 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1709 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;2334 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(15) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$29981** | &nbsp;&nbsp;**$(15)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;NOVA Chemicals Corp. | &nbsp;&nbsp;355000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;$355000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;$(7939) | &nbsp;&nbsp;&nbsp;$(2976) | &nbsp;&nbsp;$(10915) |
| Centrally cleared | &nbsp;&nbsp;The Goodyear Tire & Rubber Company | &nbsp;&nbsp;470000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;&nbsp;(7605) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(291) | &nbsp;&nbsp;&nbsp;&nbsp;(7896) |
| Centrally cleared | &nbsp;&nbsp;Xerox Holdings Corp. | &nbsp;&nbsp;190000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;24058 | &nbsp;&nbsp;&nbsp;&nbsp;(3974) | &nbsp;&nbsp;&nbsp;&nbsp;20084 |
| Centrally cleared | &nbsp;&nbsp;Beazer Homes USA, Inc. | &nbsp;&nbsp;470000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;55892 | &nbsp;&nbsp;&nbsp;(36612) | &nbsp;&nbsp;&nbsp;&nbsp;19280 |
| Centrally cleared | &nbsp;&nbsp;KB Home | &nbsp;&nbsp;662000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662000 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;(6011) | &nbsp;&nbsp;&nbsp;(42534) | &nbsp;&nbsp;&nbsp;(48545) |
|  |  |  |  | &nbsp;&nbsp;**$2147000** |  |  |  | &nbsp;&nbsp;**$58395** | &nbsp;&nbsp;**$(86387)** | &nbsp;&nbsp;**$(27992)** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 38 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### High Yield Trust (continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | Occidental Petroleum Corp. | 1.073% | 750000 | USD | &nbsp;&nbsp;&nbsp;$750000 | 1.000% | Quarterly | Jun 2026 | $(23921) | &nbsp;&nbsp;$20915 | &nbsp;&nbsp;$(3006) |
| Centrally cleared | Ford Motor Credit Company LLC | 3.814% | 800000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;800000 | 5.000% | Quarterly | Dec 2026 | &nbsp;&nbsp;&nbsp;&nbsp;98174 | &nbsp;&nbsp;&nbsp;(76675) | &nbsp;&nbsp;&nbsp;21499 |
|  |  |  |  |  | **$1550000** |  |  |  | &nbsp;&nbsp;**$74253** | **$(55760)** | **$18493** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| CAD | Canadian Dollar |
| EUR | Euro |
| MXN | Mexican Peso |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Investment Quality Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 64.7%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 64.7%** |  |
| **U.S. Government – 29.9%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/15/2040 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239547 |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244144 |
| &nbsp;&nbsp;&nbsp;1.875%, 11/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004582 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586626 |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 to 02/15/2046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391269 |
| &nbsp;&nbsp;&nbsp;3.000%, 11/15/2044 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9601102 |
| &nbsp;&nbsp;&nbsp;3.125%, 08/15/2044 to 05/15/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7370436 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 to 05/15/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205171 |
| &nbsp;&nbsp;&nbsp;3.625%, 08/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625122 |
| &nbsp;&nbsp;&nbsp;3.750%, 11/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725568 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 to 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086886 |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219954 |
| U.S. Treasury Inflation<br> Protected Securities |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 02/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219472 |
| &nbsp;&nbsp;&nbsp;0.250%, 07/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231209 |
| &nbsp;&nbsp;&nbsp;0.625%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297007 |
| &nbsp;&nbsp;&nbsp;0.750%, 07/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2174399 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.625%, 05/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714657 |
| &nbsp;&nbsp;&nbsp;1.625%, 05/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5710231 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638276 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681791 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61819979 |
| **U.S. Government Agency – 34.8%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 01/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10792207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8818324 |
| &nbsp;&nbsp;&nbsp;2.500%, 01/01/2052 to 05/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4250797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3612942 |
| &nbsp;&nbsp;&nbsp;3.000%, 12/01/2046 to 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231152 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2048 to 06/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663409 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76922 |
| &nbsp;&nbsp;&nbsp;6.500%, 04/01/2029 to 08/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960 |
| &nbsp;&nbsp;&nbsp;7.500%, 12/01/2025 to 05/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3117263 |

---

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 01/01/2052 to 02/01/2052 | $&nbsp;&nbsp;&nbsp;&nbsp;574366 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468904 |
| &nbsp;&nbsp;&nbsp;2.500%, TBA (B) | 10400000 | &nbsp;&nbsp;&nbsp;&nbsp;8817250 |
| &nbsp;&nbsp;&nbsp;2.500%, 07/01/2030 to 04/01/2050 | &nbsp;&nbsp;1297178 | &nbsp;&nbsp;&nbsp;&nbsp;1122505 |
| &nbsp;&nbsp;&nbsp;2.660%, 03/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;774077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721275 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;2986953 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2046 to 05/01/2048 | &nbsp;&nbsp;2619244 | &nbsp;&nbsp;&nbsp;&nbsp;2430711 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | &nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;3473373 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | 15100000 | &nbsp;&nbsp;&nbsp;14554984 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2181322 |
| &nbsp;&nbsp;&nbsp;3.000%, TBA (B) | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;6680074 |
| &nbsp;&nbsp;&nbsp;3.500%, TBA (B) | &nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;4961412 |
| &nbsp;&nbsp;&nbsp;4.000%, TBA (B) | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2461347 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2040 to 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;20477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19660 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (B) | &nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;4463478 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/15/2032 to 04/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;25003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25865 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2028 to 02/15/2035 | &nbsp;&nbsp;&nbsp;&nbsp;14316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14655 |
| &nbsp;&nbsp;&nbsp;7.000%, 11/15/2031 to 11/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;63716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65597 |
|  |  | &nbsp;&nbsp;&nbsp;71975618 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $150,030,311) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $150,030,311) | $133795597 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 3.7%** | **FOREIGN GOVERNMENT OBLIGATIONS – 3.7%** |  |
| **Angola – 0.1%** |  |  |
| Republic of Angola<br> 8.000%, 11/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175280 |
| **Benin – 0.1%** |  |  |
| Republic of Benin<br> 4.950%, 01/22/2035 (C) | &nbsp;&nbsp;&nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236458 |
| **Bermuda – 0.2%** |  |  |
| Government of Bermuda |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 08/20/2030 (C) | $&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168707 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2032 (C) | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198631 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367338 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 39 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Brazil – 0.4%** |  |  |
| Federative Republic of Brazil<br> 10.000%, 01/01/2031 | 5476000 | $906400 |
| **Chile – 0.2%** |  |  |
| Republic of Chile<br> 1.250%, 01/22/2051 | &nbsp;&nbsp;525000 | 302058 |
| **Colombia – 0.1%** |  |  |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2045 | $&nbsp;&nbsp;200000 | 136061 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/26/2044 | &nbsp;&nbsp;200000 | 146675 |
|  |  | 282736 |
| **Egypt – 0.1%** |  |  |
| Arab Republic of Egypt<br> 7.903%, 02/21/2048 | &nbsp;&nbsp;325000 | 204789 |
| **Ghana – 0.0%** |  |  |
| Republic of Ghana<br> 6.375%, 02/11/2027 (C) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;75400 |
| **Hungary – 0.3%** |  |  |
| Republic of Hungary<br> 1.625%, 04/28/2032 | &nbsp;&nbsp;735000 | 564197 |
| **Indonesia – 0.2%** |  |  |
| Republic of Indonesia<br> 1.100%, 03/12/2033 | &nbsp;&nbsp;530000 | 412079 |
| **Ivory Coast – 0.1%** |  |  |
| Republic of Ivory Coast<br> 4.875%, 01/30/2032 | &nbsp;&nbsp;225000 | 190192 |
| **Mexico – 0.3%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 01/17/2030 | &nbsp;&nbsp;200000 | 174160 |
| &nbsp;&nbsp;&nbsp;1.450%, 10/25/2033 | &nbsp;&nbsp;600000 | 454284 |
|  |  | 628444 |
| **North Macedonia – 0.2%** |  |  |
| Republic of North Macedonia |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 01/18/2025 | &nbsp;&nbsp;210000 | 209120 |
| &nbsp;&nbsp;&nbsp;3.675%, 06/03/2026 (C) | &nbsp;&nbsp;265000 | 260838 |
|  |  | 469958 |
| **Panama – 0.3%** |  |  |
| Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;3.870%, 07/23/2060 | $&nbsp;&nbsp;585000 | 376819 |
| &nbsp;&nbsp;&nbsp;6.400%, 02/14/2035 | &nbsp;&nbsp;200000 | 202882 |
|  |  | 579701 |
| **Philippines – 0.3%** |  |  |
| Republic of the Philippines |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 04/28/2033 | &nbsp;&nbsp;435000 | 357904 |
| &nbsp;&nbsp;&nbsp;1.750%, 04/28/2041 | &nbsp;&nbsp;200000 | 146320 |
|  |  | 504224 |
| **Romania – 0.4%** |  |  |
| Republic of Romania |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 12/02/2040 (C) | &nbsp;&nbsp;335000 | 199765 |
| &nbsp;&nbsp;&nbsp;2.750%, 04/14/2041 | &nbsp;&nbsp;485000 | 290787 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/08/2038 | &nbsp;&nbsp;170000 | 122379 |
| &nbsp;&nbsp;&nbsp;4.625%, 04/03/2049 | &nbsp;&nbsp;317000 | 247082 |
|  |  | 860013 |
| **Saudi Arabia – 0.1%** |  |  |
| Kingdom of Saudi Arabia<br> 2.000%, 07/09/2039 | &nbsp;&nbsp;300000 | 238992 |
| **Senegal – 0.2%** |  |  |
| Republic of Senegal |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 03/13/2028 | &nbsp;&nbsp;200000 | 184211 |
| &nbsp;&nbsp;&nbsp;6.250%, 05/23/2033 | $&nbsp;&nbsp;255000 | 210835 |
|  |  | 395046 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **United Arab Emirates – 0.1%** |  |  |
| Finance Department Government of Sharjah<br> 3.625%, 03/10/2033 (C) | 280000 | $&nbsp;&nbsp;&nbsp;&nbsp;231953 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,704,221) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $10,704,221) | $7625258 |
| **CORPORATE BONDS – 24.8%** | **CORPORATE BONDS – 24.8%** |  |
| **Communication services – 2.1%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.550%, 09/15/2055 | 558000 | &nbsp;&nbsp;&nbsp;&nbsp;372322 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | &nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp;35187 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2042 | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;26912 |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2049 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;124767 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;36841 |
| &nbsp;&nbsp;&nbsp;6.484%, 10/23/2045 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;225444 |
| &nbsp;&nbsp;&nbsp;6.834%, 10/23/2055 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;36901 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 11/01/2039 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;27266 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2040 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;177316 |
| Cox Communications, Inc.<br> 2.600%, 06/15/2031 (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;135380 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 09/15/2055 | 246000 | &nbsp;&nbsp;&nbsp;&nbsp;147814 |
| &nbsp;&nbsp;&nbsp;5.200%, 09/20/2047 | &nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;69082 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2049 | 247000 | &nbsp;&nbsp;&nbsp;&nbsp;186754 |
| IHS Holding, Ltd.<br> 6.250%, 11/29/2028 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;161312 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 06/01/2029 to 05/19/2032 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;137923 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;130835 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/15/2031 | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;275503 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/15/2032 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;25889 |
| &nbsp;&nbsp;&nbsp;4.550%, 03/15/2052 (C) | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;89158 |
| Sirius XM Radio, Inc.<br> 4.125%, 07/01/2030 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;33008 |
| Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2042 | 455000 | &nbsp;&nbsp;&nbsp;&nbsp;333108 |
| &nbsp;&nbsp;&nbsp;5.875%, 11/15/2040 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;56630 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.050%, 02/15/2028 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;158884 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;40762 |
| &nbsp;&nbsp;&nbsp;5.200%, 01/15/2033 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;54504 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.355%, 03/15/2032 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;107015 |
| &nbsp;&nbsp;&nbsp;2.650%, 11/20/2040 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;47249 |
| &nbsp;&nbsp;&nbsp;2.850%, 09/03/2041 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;61938 |
| &nbsp;&nbsp;&nbsp;3.850%, 11/01/2042 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;27739 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/22/2050 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;11735 |
| &nbsp;&nbsp;&nbsp;4.272%, 01/15/2036 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;13353 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.279%, 03/15/2032 (C) | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;177109 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 (C) | 455000 | &nbsp;&nbsp;&nbsp;&nbsp;330770 |
| WMG Acquisition Corp.<br> 3.875%, 07/15/2030 (C) | 450000 | &nbsp;&nbsp;&nbsp;&nbsp;387607 |
|  |  | 4264017 |
| **Consumer discretionary – 1.4%** |  |  |
| Amazon.com, Inc.<br> 3.875%, 08/22/2037 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;53155 |
| AutoZone, Inc.<br> 4.750%, 08/01/2032 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;101764 |
| General Motors Financial Company, Inc.<br> 3.600%, 06/21/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;84156 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 40 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Hanesbrands, Inc.<br> 4.875%, 05/15/2026 (C) | $&nbsp;&nbsp;50000 | $&nbsp;&nbsp;&nbsp;&nbsp;44679 |
| Howard University |  |  |
| &nbsp;&nbsp;&nbsp;2.701%, 10/01/2029 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;84645 |
| &nbsp;&nbsp;&nbsp;2.801%, 10/01/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;83397 |
| &nbsp;&nbsp;&nbsp;3.476%, 10/01/2041 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;87003 |
| Lowe's Companies, Inc.<br> 5.000%, 04/15/2033 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;97621 |
| O'Reilly Automotive, Inc.<br> 4.700%, 06/15/2032 | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;173983 |
| PulteGroup, Inc.<br> 5.500%, 03/01/2026 | 307000 | &nbsp;&nbsp;&nbsp;&nbsp;308091 |
| Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2030 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;272324 |
| &nbsp;&nbsp;&nbsp;5.125%, 06/01/2029 | 507000 | &nbsp;&nbsp;&nbsp;&nbsp;475325 |
| Taylor Morrison Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 08/01/2030 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;34649 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2028 (C) | 302000 | &nbsp;&nbsp;&nbsp;&nbsp;282779 |
| The Gap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 10/01/2029 (C) | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;169296 |
| &nbsp;&nbsp;&nbsp;3.875%, 10/01/2031 (C) | 440000 | &nbsp;&nbsp;&nbsp;&nbsp;306951 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 04/15/2040 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;59715 |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;82994 |
| The William Carter Company<br> 5.625%, 03/15/2027 (C) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;100718 |
|  |  | 2903245 |
| **Consumer staples – 1.0%** |  |  |
| Anheuser-Busch InBev Worldwide, Inc.<br> 5.450%, 01/23/2039 | 138000 | &nbsp;&nbsp;&nbsp;&nbsp;137698 |
| BAT Capital Corp.<br> 4.742%, 03/16/2032 | 475000 | &nbsp;&nbsp;&nbsp;&nbsp;421479 |
| BAT International Finance PLC<br> 4.448%, 03/16/2028 | 280000 | &nbsp;&nbsp;&nbsp;&nbsp;259325 |
| Conagra Brands, Inc.<br> 5.400%, 11/01/2048 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;27721 |
| Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, 08/01/2029 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;41189 |
| &nbsp;&nbsp;&nbsp;4.650%, 11/15/2028 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14506 |
| Kernel Holding SA<br> 6.500%, 10/17/2024 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;87614 |
| Keurig Dr. Pepper, Inc.<br> 3.950%, 04/15/2029 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;199989 |
| Mondelez International, Inc.<br> 3.000%, 03/17/2032 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;68431 |
| NBM US Holdings, Inc.<br> 7.000%, 05/14/2026 (C) | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;417064 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 11/17/2027 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;216570 |
| &nbsp;&nbsp;&nbsp;5.625%, 11/17/2029 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;96375 |
|  |  | 1987961 |
| **Energy – 2.1%** |  |  |
| Aker BP ASA<br> 2.000%, 07/15/2026 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;176662 |
| BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.939%, 06/04/2051 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;79008 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/24/2050 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;13339 |
| &nbsp;&nbsp;&nbsp;3.379%, 02/08/2061 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;13593 |
| &nbsp;&nbsp;&nbsp;3.633%, 04/06/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;32121 |
| ConocoPhillips Company |  |  |
| &nbsp;&nbsp;&nbsp;3.800%, 03/15/2052 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931 |
| &nbsp;&nbsp;&nbsp;4.025%, 03/15/2062 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;35424 |
| Continental Resources, Inc.<br> 5.750%, 01/15/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;55852 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Diamondback Energy, Inc.<br> 6.250%, 03/15/2033 to 03/15/2053 | $100000 | $&nbsp;&nbsp;&nbsp;&nbsp;98823 |
| Ecopetrol SA<br> 4.625%, 11/02/2031 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;160406 |
| Energo-Pro AS<br> 8.500%, 02/04/2027 (C) | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;285570 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, 04/15/2029 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;111200 |
| &nbsp;&nbsp;&nbsp;5.550%, 02/15/2028 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;109112 |
| &nbsp;&nbsp;&nbsp;5.750%, 02/15/2033 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;53810 |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2045 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;134160 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/15/2048 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;12036 |
| &nbsp;&nbsp;&nbsp;4.950%, 10/15/2054 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;66582 |
| EQM Midstream Partners LP<br> 6.500%, 07/01/2027 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14336 |
| EQT Corp.<br> 5.700%, 04/01/2028 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;19893 |
| Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/06/2040 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;102737 |
| &nbsp;&nbsp;&nbsp;3.700%, 04/06/2050 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;11829 |
| Galaxy Pipeline Assets Bidco, Ltd.<br> 2.940%, 09/30/2040 (C) | 193306 | &nbsp;&nbsp;&nbsp;&nbsp;155205 |
| Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 03/15/2033 | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;40928 |
| &nbsp;&nbsp;&nbsp;7.300%, 08/15/2031 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;103141 |
| Leviathan Bond, Ltd.<br> 6.500%, 06/30/2027 (C) | 235000 | &nbsp;&nbsp;&nbsp;&nbsp;226973 |
| MPLX LP<br> 4.950%, 09/01/2032 to 03/14/2052 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;230651 |
| NGPL PipeCo LLC<br> 3.250%, 07/15/2031 (C) | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;85407 |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 03/15/2030 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;104751 |
| &nbsp;&nbsp;&nbsp;3.400%, 09/01/2029 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;112354 |
| &nbsp;&nbsp;&nbsp;4.550%, 07/15/2028 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;28314 |
| &nbsp;&nbsp;&nbsp;6.100%, 11/15/2032 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;94995 |
| &nbsp;&nbsp;&nbsp;6.350%, 01/15/2031 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;27431 |
| Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.500%, 08/15/2034 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;40250 |
| &nbsp;&nbsp;&nbsp;6.625%, 08/15/2037 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;95546 |
| Plains All American Pipeline LP<br> 3.800%, 09/15/2030 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;143398 |
| Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 11/26/2041 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;39893 |
| &nbsp;&nbsp;&nbsp;3.000%, 11/26/2051 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;47398 |
| &nbsp;&nbsp;&nbsp;3.250%, 04/06/2050 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;53796 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 02/01/2033 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;103244 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2052 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;103813 |
| Targa Resources Partners LP<br> 4.875%, 02/01/2031 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;18059 |
| The Williams Companies, Inc.<br> 4.650%, 08/15/2032 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;134981 |
| Transcontinental Gas Pipe Line Company LLC<br> 3.250%, 05/15/2030 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;52068 |
| Tullow Oil PLC<br> 7.000%, 03/01/2025 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;120703 |
| Var Energi ASA<br> 7.500%, 01/15/2028 (C) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;254650 |
| Viper Energy Partners LP<br> 5.375%, 11/01/2027 (C) | 257000 | &nbsp;&nbsp;&nbsp;&nbsp;244024 |
|  |  | 4252397 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 41 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials – 7.5%** |  |  |
| Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;2.646%, 10/04/2031 (C) | $215000 | $164250 |
| &nbsp;&nbsp;&nbsp;2.717%, 01/07/2029 (C) | 355000 | 293142 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.898%, (1.898% to 7-23-30, then SOFR + 1.530%), 07/23/2031 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;23025 |
| &nbsp;&nbsp;&nbsp;1.922%, (1.922% to 10-24-30, then SOFR + 1.370%), 10/24/2031 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;61111 |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 10-20-31, then SOFR + 1.210%), 10/20/2032 | 110000 | &nbsp;&nbsp;&nbsp;86152 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 905000 | 724348 |
| &nbsp;&nbsp;&nbsp;2.972%, (2.972% to 2-4-32, then SOFR + 1.330%), 02/04/2033 | 140000 | 112787 |
| &nbsp;&nbsp;&nbsp;3.194%, (3.194% to 7-23-29, then 3 month LIBOR + 1.180%), 07/23/2030 | 320000 | 275227 |
| &nbsp;&nbsp;&nbsp;4.376%, (4.376% to 4-27-27, then SOFR + 1.580%), 04/27/2028 | 320000 | 306023 |
| &nbsp;&nbsp;&nbsp;4.948%, (4.948% to 7-22-27, then SOFR + 2.040%), 07/22/2028 | 190000 | 185566 |
| &nbsp;&nbsp;&nbsp;5.015%, (5.015% to 7-22-32, then SOFR + 2.160%), 07/22/2033 | 110000 | 104433 |
| Bank of Ireland Group PLC<br> 6.253%, (6.253% to 9-16-25, then 1 Year CMT + 2.650%), 09/16/2026 (C) | 345000 | 342234 |
| Barclays PLC<br> 7.385%, (7.385% to 11-2-27, then 1 Year CMT + 3.300%), 11/02/2028 | 200000 | 208466 |
| BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;2.219%, (2.219% to 6-9-25, then SOFR + 2.074%), 06/09/2026 (C) | 240000 | 220353 |
| &nbsp;&nbsp;&nbsp;2.591%, (2.591% to 1-20-27, then SOFR + 1.228%), 01/20/2028 (C) | 220000 | 193491 |
| &nbsp;&nbsp;&nbsp;4.375%, (4.375% to 3-1-28, then 5 Year U.S. Swap Rate + 1.483%), 03/01/2033 (C) | 235000 | 207668 |
| Capital One Financial Corp.<br> 5.247%, (5.247% to 7-26-29, then SOFR + 2.600%), 07/26/2030 | 390000 | 371415 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 04/05/2029 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;68311 |
| &nbsp;&nbsp;&nbsp;3.900%, 04/05/2032 (C) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;30568 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 9-15-27, then 5 Year CMT + 3.846%), 12/15/2052 (C) | 480000 | 443537 |
| Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;6.442%, (6.442% to 8-11-27, then SOFR + 3.700%), 08/11/2028 (C) | 250000 | 227674 |
| &nbsp;&nbsp;&nbsp;6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (C) | 790000 | 693141 |
| Danske Bank A/S<br> 5.375%, 01/12/2024 (C) | 235000 | 233053 |
| Deutsche Bank AG<br> 2.311%, (2.311% to 11-16-26, then SOFR + 1.219%), 11/16/2027 | 180000 | 152619 |
| Equitable Financial Life Global Funding<br> 1.800%, 03/08/2028 (C) | 380000 | 316089 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (C) | 250000 | 219490 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (C) | 220000 | 195814 |
| GTP Acquisition Partners I LLC<br> 3.482%, 06/16/2025 (C) | 730000 | 680019 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.206%, (2.206% to 8-17-28, then SOFR + 1.285%), 08/17/2029 | $200000 | $161436 |
| &nbsp;&nbsp;&nbsp;2.804%, (2.804% to 5-24-31, then SOFR + 1.187%), 05/24/2032 | 250000 | 193420 |
| &nbsp;&nbsp;&nbsp;4.762%, (4.762% to 3-29-32, then SOFR + 2.530%), 03/29/2033 | 200000 | 173332 |
| &nbsp;&nbsp;&nbsp;5.402%, (5.402% to 8-11-32, then SOFR + 2.870%), 08/11/2033 | 770000 | 713038 |
| Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.350%, 06/15/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;53176 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/15/2033 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;23904 |
| &nbsp;&nbsp;&nbsp;4.950%, 06/15/2052 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18564 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.545%, (2.545% to 11-8-31, then SOFR + 1.180%), 11/08/2032 | 205000 | 162038 |
| &nbsp;&nbsp;&nbsp;3.509%, (3.509% to 1-23-28, then 3 month LIBOR + 0.945%), 01/23/2029 | 285000 | 258646 |
| &nbsp;&nbsp;&nbsp;3.702%, (3.702% to 5-6-29, then 3 month LIBOR + 1.160%), 05/06/2030 | 105000 | &nbsp;&nbsp;&nbsp;94172 |
| &nbsp;&nbsp;&nbsp;3.960%, (3.960% to 1-29-26, then 3 month LIBOR + 1.245%), 01/29/2027 | 150000 | 142987 |
| &nbsp;&nbsp;&nbsp;4.005%, (4.005% to 4-23-28, then 3 month LIBOR + 1.120%), 04/23/2029 | 315000 | 291418 |
| &nbsp;&nbsp;&nbsp;4.323%, (4.323% to 4-26-27, then SOFR + 1.560%), 04/26/2028 | 375000 | 358120 |
| &nbsp;&nbsp;&nbsp;4.586%, (4.586% to 4-26-32, then SOFR + 1.800%), 04/26/2033 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;41659 |
| &nbsp;&nbsp;&nbsp;4.851%, (4.851% to 7-25-27, then SOFR + 1.990%), 07/25/2028 | 265000 | 258318 |
| Marsh & McLennan Companies, Inc.<br> 4.750%, 03/15/2039 | 120000 | 110266 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.794%, (1.794% to 2-13-31, then SOFR + 1.034%), 02/13/2032 | 270000 | 202921 |
| &nbsp;&nbsp;&nbsp;1.928%, (1.928% to 4-28-31, then SOFR + 1.020%), 04/28/2032 | 350000 | 264084 |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then SOFR + 1.178%), 07/21/2032 | 255000 | 195634 |
| &nbsp;&nbsp;&nbsp;2.511%, (2.511% to 10-20-31, then SOFR + 1.200%), 10/20/2032 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;23477 |
| &nbsp;&nbsp;&nbsp;3.591%, (3.591% to 7-22-27, then 3 month LIBOR + 1.340%), 07/22/2028 | 395000 | 362314 |
| &nbsp;&nbsp;&nbsp;4.210%, (4.210% to 4-20-27, then SOFR + 1.610%), 04/20/2028 | 325000 | 309106 |
| &nbsp;&nbsp;&nbsp;4.889%, (4.889% to 7-20-32, then SOFR + 2.076%), 07/20/2033 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;42278 |
| MSCI, Inc.<br> 4.000%, 11/15/2029 (C) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;78393 |
| National Rural Utilities Cooperative Finance Corp.<br> 4.800%, 03/15/2028 | 140000 | 138802 |
| OneMain Finance Corp.<br> 6.125%, 03/15/2024 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;72545 |
| Societe Generale SA<br> 6.221%, (6.221% to 6-15-32, then 1 Year CMT + 3.200%), 06/15/2033 (C) | 565000 | 528436 |
| Standard Chartered PLC<br> 7.767%, (7.767% to 11-16-27, then 1 Year CMT + 3.450%), 11/16/2028 (C) | 400000 | 423761 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 42 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.383%, (2.383% to 7-21-31, then SOFR + 1.248%), 07/21/2032 | $325000 | $&nbsp;&nbsp;&nbsp;&nbsp;252170 |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then SOFR + 1.281%), 04/22/2032 | 340000 | &nbsp;&nbsp;&nbsp;&nbsp;271147 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27635 |
| &nbsp;&nbsp;&nbsp;3.102%, (3.102% to 2-24-32, then SOFR + 1.410%), 02/24/2033 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81198 |
| &nbsp;&nbsp;&nbsp;4.223%, (4.223% to 5-1-28, then 3 month LIBOR + 1.301%), 05/01/2029 | 235000 | &nbsp;&nbsp;&nbsp;&nbsp;218930 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then SOFR + 1.725%), 08/23/2028 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62297 |
| UBS Group AG<br> 4.751%, (4.751% to 5-12-27, then 1 Year CMT + 1.750%), 05/12/2028 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;191395 |
| Unum Group<br> 4.125%, 06/15/2051 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23847 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 04/22/2026 to 10/23/2026 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97820 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then SOFR + 1.500%), 03/02/2033 | 275000 | &nbsp;&nbsp;&nbsp;&nbsp;231659 |
| &nbsp;&nbsp;&nbsp;3.908%, (3.908% to 4-25-25, then SOFR + 1.320%), 04/25/2026 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;291572 |
| &nbsp;&nbsp;&nbsp;4.808%, (4.808% to 7-25-27, then SOFR + 1.980%), 07/25/2028 | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;175805 |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then SOFR + 2.100%), 07/25/2033 | 615000 | &nbsp;&nbsp;&nbsp;&nbsp;583963 |
| &nbsp;&nbsp;&nbsp;5.013%, (5.013% to 4-4-50, then SOFR + 4.502%), 04/04/2051 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70470 |
| Willis North America, Inc.<br> 3.600%, 05/15/2024 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;111864 |
|  |  | 15528023 |
| **Health care – 2.1%** |  |  |
| Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 09/23/2026 (C) | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;366022 |
| &nbsp;&nbsp;&nbsp;5.375%, 12/06/2032 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;201016 |
| Avantor Funding, Inc.<br> 4.625%, 07/15/2028 (C) | 375000 | &nbsp;&nbsp;&nbsp;&nbsp;340740 |
| Baxter International, Inc.<br> 2.539%, 02/01/2032 | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;262150 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 07/15/2028 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84405 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/15/2027 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46893 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | 585000 | &nbsp;&nbsp;&nbsp;&nbsp;534594 |
| CommonSpirit Health<br> 3.347%, 10/01/2029 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39161 |
| CSL Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.050%, 04/27/2029 (C) | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;146093 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/27/2032 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89454 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 04/01/2040 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70723 |
| &nbsp;&nbsp;&nbsp;5.125%, 07/20/2045 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45570 |
| Elevance Health, Inc.<br> 5.350%, 10/15/2025 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10111 |
| GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.650%, 11/15/2027 (C) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;126463 |
| &nbsp;&nbsp;&nbsp;5.857%, 03/15/2030 (C) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;127920 |
| &nbsp;&nbsp;&nbsp;5.905%, 11/22/2032 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;103620 |
| GSK Consumer Healthcare Capital US LLC<br> 3.375%, 03/24/2029 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;224809 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Humana, Inc.<br> 3.700%, 03/23/2029 | $225000 | $&nbsp;&nbsp;&nbsp;&nbsp;205996 |
| Kaiser Foundation Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;2.810%, 06/01/2041 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;32606 |
| &nbsp;&nbsp;&nbsp;3.002%, 06/01/2051 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;91941 |
| Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.150%, 09/02/2031 | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;317619 |
| &nbsp;&nbsp;&nbsp;2.200%, 09/02/2030 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;66433 |
| &nbsp;&nbsp;&nbsp;3.300%, 09/02/2040 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;17351 |
| Sutter Health<br> 3.361%, 08/15/2050 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;60999 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2040 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;79803 |
| &nbsp;&nbsp;&nbsp;3.500%, 08/15/2039 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;57210 |
| &nbsp;&nbsp;&nbsp;4.000%, 05/15/2029 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;133700 |
| &nbsp;&nbsp;&nbsp;4.200%, 05/15/2032 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;47463 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/15/2062 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;28076 |
| &nbsp;&nbsp;&nbsp;5.250%, 02/15/2028 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;219780 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;175387 |
| &nbsp;&nbsp;&nbsp;5.875%, 02/15/2053 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;21595 |
| &nbsp;&nbsp;&nbsp;6.050%, 02/15/2063 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;32554 |
|  |  | 4412484 |
| **Industrials – 1.9%** |  |  |
| Ashtead Capital, Inc.<br> 4.375%, 08/15/2027 (C) | 605000 | &nbsp;&nbsp;&nbsp;&nbsp;565402 |
| Booz Allen Hamilton, Inc.<br> 3.875%, 09/01/2028 (C) | 440000 | &nbsp;&nbsp;&nbsp;&nbsp;389824 |
| Builders FirstSource, Inc.<br> 5.000%, 03/01/2030 (C) | 225000 | &nbsp;&nbsp;&nbsp;&nbsp;199368 |
| Clean Harbors, Inc.<br> 4.875%, 07/15/2027 (C) | 620000 | &nbsp;&nbsp;&nbsp;&nbsp;587450 |
| DAE Funding LLC<br> 1.550%, 08/01/2024 (C) | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;404250 |
| International Airport Finance SA<br> 12.000%, 03/15/2033 (C) | 322730 | &nbsp;&nbsp;&nbsp;&nbsp;317365 |
| Lockheed Martin Corp.<br> 5.100%, 11/15/2027 | 355000 | &nbsp;&nbsp;&nbsp;&nbsp;362823 |
| Northrop Grumman Corp.<br> 5.150%, 05/01/2040 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;92334 |
| Otis Worldwide Corp.<br> 2.565%, 02/15/2030 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;176442 |
| Penske Truck Leasing Company LP |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 11/01/2024 (C) | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;193238 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2025 (C) | 170000 | &nbsp;&nbsp;&nbsp;&nbsp;162649 |
| &nbsp;&nbsp;&nbsp;4.400%, 07/01/2027 (C) | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;132852 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;108788 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;131711 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;29918 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/15/2027 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;31590 |
|  |  | 3886004 |
| **Information technology – 2.8%** |  |  |
| Black Knight InfoServ LLC<br> 3.625%, 09/01/2028 (C) | 699000 | &nbsp;&nbsp;&nbsp;&nbsp;606383 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (C) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;200427 |
| &nbsp;&nbsp;&nbsp;3.469%, 04/15/2034 (C) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;36696 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/15/2029 (C) | 245000 | &nbsp;&nbsp;&nbsp;&nbsp;222568 |
| CDW LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.670%, 12/01/2026 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;53269 |
| &nbsp;&nbsp;&nbsp;3.250%, 02/15/2029 | 340000 | &nbsp;&nbsp;&nbsp;&nbsp;289575 |
| &nbsp;&nbsp;&nbsp;3.276%, 12/01/2028 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;47089 |
| &nbsp;&nbsp;&nbsp;3.569%, 12/01/2031 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;41202 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/01/2025 | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;223348 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 43 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Fair Isaac Corp.<br> 4.000%, 06/15/2028 (C) | $386000 | $&nbsp;&nbsp;&nbsp;&nbsp;350297 |
| Gartner, Inc.<br> 4.500%, 07/01/2028 (C) | 193000 | &nbsp;&nbsp;&nbsp;&nbsp;179940 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 04/15/2025 (C) | 530000 | &nbsp;&nbsp;&nbsp;&nbsp;515518 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/30/2027 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;68600 |
| Go Daddy Operating Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2029 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;46046 |
| &nbsp;&nbsp;&nbsp;5.250%, 12/01/2027 (C) | 454000 | &nbsp;&nbsp;&nbsp;&nbsp;429693 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 02/15/2060 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;67797 |
| &nbsp;&nbsp;&nbsp;4.000%, 08/05/2029 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;199755 |
| &nbsp;&nbsp;&nbsp;4.900%, 08/05/2052 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;163661 |
| Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 04/15/2028 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;122734 |
| &nbsp;&nbsp;&nbsp;2.950%, 04/15/2031 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;76412 |
| Micron Technology, Inc.<br> 6.750%, 11/01/2029 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;40631 |
| Nokia OYJ<br> 4.375%, 06/12/2027 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;122729 |
| NVIDIA Corp.<br> 3.500%, 04/01/2040 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;89079 |
| NXP BV |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 06/18/2029 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;23307 |
| &nbsp;&nbsp;&nbsp;5.550%, 12/01/2028 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;94873 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 12/01/2029 (C) | 355000 | &nbsp;&nbsp;&nbsp;&nbsp;285487 |
| &nbsp;&nbsp;&nbsp;6.900%, 12/01/2027 (C) | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;180000 |
| Open Text Holdings, Inc.<br> 4.125%, 12/01/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;46638 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 04/01/2060 | 440000 | &nbsp;&nbsp;&nbsp;&nbsp;292351 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2047 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;51163 |
| &nbsp;&nbsp;&nbsp;4.100%, 03/25/2061 | 115000 | &nbsp;&nbsp;&nbsp;&nbsp;79829 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2045 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7542 |
| &nbsp;&nbsp;&nbsp;6.150%, 11/09/2029 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;197214 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;44189 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/15/2029 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;26527 |
| SS&C Technologies, Inc.<br> 5.500%, 09/30/2027 (C) | 262000 | &nbsp;&nbsp;&nbsp;&nbsp;245336 |
|  |  | 5767905 |
| **Materials – 0.8%** |  |  |
| Anglo American Capital PLC<br> 2.625%, 09/10/2030 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;162537 |
| ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;6.550%, 11/29/2027 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;70329 |
| &nbsp;&nbsp;&nbsp;6.800%, 11/29/2032 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;44746 |
| Ball Corp.<br> 4.000%, 11/15/2023 | 570000 | &nbsp;&nbsp;&nbsp;&nbsp;558668 |
| Celanese US Holdings LLC<br> 6.165%, 07/15/2027 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;187402 |
| FS Luxembourg Sarl<br> 10.000%, 12/15/2025 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;200886 |
| Metinvest BV<br> 5.625%, 06/17/2025 (C) | 195000 | &nbsp;&nbsp;&nbsp;&nbsp;111800 |
| Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 01/15/2031 (C) | $&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7525 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2030 (C) | 410000 | &nbsp;&nbsp;&nbsp;&nbsp;334119 |
| Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 10/15/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6483 |
| &nbsp;&nbsp;&nbsp;3.450%, 04/15/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;30775 |
|  |  | 1715270 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate – 0.6%** |  |  |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2031 | $&nbsp;&nbsp;30000 | $&nbsp;&nbsp;&nbsp;&nbsp;24419 |
| &nbsp;&nbsp;&nbsp;3.650%, 03/15/2027 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;126087 |
| Crown Castle, Inc.<br> 2.900%, 03/15/2027 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;100051 |
| EPR Properties<br> 4.950%, 04/15/2028 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;162103 |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;72913 |
| &nbsp;&nbsp;&nbsp;5.300%, 01/15/2029 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;123024 |
| &nbsp;&nbsp;&nbsp;5.750%, 06/01/2028 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;127469 |
| SBA Tower Trust<br> 2.836%, 01/15/2025 (C) | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;282755 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 02/15/2030 | 287000 | &nbsp;&nbsp;&nbsp;&nbsp;273200 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;55557 |
|  |  | 1347578 |
| **Utilities – 2.5%** |  |  |
| Alabama Power Company |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 10/01/2049 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;86444 |
| &nbsp;&nbsp;&nbsp;4.150%, 08/15/2044 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;86889 |
| Cleco Corporate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 09/15/2029 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;119085 |
| &nbsp;&nbsp;&nbsp;4.973%, 05/01/2046 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215 |
| Consolidated Edison Company of New York, Inc.<br> 3.200%, 12/01/2051 | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;83014 |
| Dominion Energy, Inc.<br> 5.375%, 11/15/2032 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;158590 |
| Duke Energy Carolinas LLC<br> 3.450%, 04/15/2051 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 06/15/2031 | 385000 | &nbsp;&nbsp;&nbsp;&nbsp;313702 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2032 | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;168606 |
| Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 04/01/2050 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;50224 |
| &nbsp;&nbsp;&nbsp;3.250%, 10/01/2049 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;72853 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 10/15/2046 | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;94618 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/01/2052 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;51994 |
| Edison International<br> 6.950%, 11/15/2029 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;57435 |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;105624 |
| Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 09/15/2024 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;14240 |
| &nbsp;&nbsp;&nbsp;2.900%, 09/15/2029 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;151119 |
| Georgia Power Company |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/15/2042 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;64397 |
| &nbsp;&nbsp;&nbsp;4.700%, 05/15/2032 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;62664 |
| IPALCO Enterprises, Inc.<br> 3.700%, 09/01/2024 | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;169578 |
| ITC Holdings Corp.<br> 2.950%, 05/14/2030 (C) | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;139185 |
| Jersey Central Power & Light Company<br> 2.750%, 03/01/2032 (C) | 125000 | &nbsp;&nbsp;&nbsp;&nbsp;100942 |
| NextEra Energy Capital Holdings, Inc.<br> 4.625%, 07/15/2027 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;294977 |
| NiSource, Inc.<br> 3.490%, 05/15/2027 | 210000 | &nbsp;&nbsp;&nbsp;&nbsp;197800 |
| NRG Energy, Inc.<br> 2.450%, 12/02/2027 (C) | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;157425 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 44 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Oglethorpe Power Corp.<br> 4.500%, 04/01/2047 (C) | &nbsp;&nbsp;80000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63513 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 430000 | &nbsp;&nbsp;&nbsp;&nbsp;333631 |
| &nbsp;&nbsp;&nbsp;4.400%, 03/01/2032 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34913 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 363000 | &nbsp;&nbsp;&nbsp;&nbsp;281267 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/01/2052 | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50615 |
| &nbsp;&nbsp;&nbsp;5.900%, 06/15/2032 | 195000 | &nbsp;&nbsp;&nbsp;&nbsp;190279 |
| Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 05/15/2025 | 180000 | &nbsp;&nbsp;&nbsp;&nbsp;171203 |
| &nbsp;&nbsp;&nbsp;4.100%, 06/15/2030 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;116085 |
| Sempra Energy |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 02/01/2028 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;185620 |
| &nbsp;&nbsp;&nbsp;3.800%, 02/01/2038 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69704 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/01/2048 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19482 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 02/01/2032 | 205000 | &nbsp;&nbsp;&nbsp;&nbsp;171640 |
| &nbsp;&nbsp;&nbsp;2.850%, 08/01/2029 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;117329 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/01/2047 | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56266 |
| &nbsp;&nbsp;&nbsp;4.700%, 06/01/2027 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;181152 |
| &nbsp;&nbsp;&nbsp;5.850%, 11/01/2027 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41171 |
| The AES Corp.<br> 3.300%, 07/15/2025 (C) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;165008 |
| Xcel Energy, Inc.<br> 4.600%, 06/01/2032 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81178 |
|  |  | &nbsp;&nbsp;&nbsp;5139326 |
| TOTAL CORPORATE BONDS (Cost $57,565,463) |  | $51204210 |
| **MUNICIPAL BONDS – 1.9%** |  |  |
| Chicago Board of Education<br> (Illinois), GO |  |  |
| &nbsp;&nbsp;&nbsp;6.038%, 12/01/2029 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28123 |
| &nbsp;&nbsp;&nbsp;6.138%, 12/01/2039 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;132480 |
| &nbsp;&nbsp;&nbsp;6.319%, 11/01/2029 | 185000 | &nbsp;&nbsp;&nbsp;&nbsp;173773 |
| Chicago Transit Authority (Illinois)<br> 3.912%, 12/01/2040 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75266 |
| County of Riverside (California)<br> 3.070%, 02/15/2028 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;544576 |
| Metropolitan Transportation Authority<br> (New York) |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 11/15/2045 | 255000 | &nbsp;&nbsp;&nbsp;&nbsp;238447 |
| &nbsp;&nbsp;&nbsp;5.175%, 11/15/2049 | 705000 | &nbsp;&nbsp;&nbsp;&nbsp;608416 |
| Municipal Electric Authority of Georgia<br> 6.637%, 04/01/2057 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96277 |
| New York Transportation Development Corp.<br> 4.248%, 09/01/2035 | 640000 | &nbsp;&nbsp;&nbsp;&nbsp;615083 |
| Philadelphia Authority for Industrial Development (Pennsylvania)<br> 6.550%, 10/15/2028 | 675000 | &nbsp;&nbsp;&nbsp;&nbsp;705563 |
| State Board of Administration Finance Corp. (Florida)<br> 1.258%, 07/01/2025 | 510000 | &nbsp;&nbsp;&nbsp;&nbsp;468258 |
| State of Illinois, GO |  |  |
| &nbsp;&nbsp;&nbsp;4.950%, 06/01/2023 | 129545 | &nbsp;&nbsp;&nbsp;&nbsp;129613 |
| &nbsp;&nbsp;&nbsp;5.000%, 01/01/2023 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 |
| TOTAL MUNICIPAL BONDS (Cost $4,319,727) | TOTAL MUNICIPAL BONDS (Cost $4,319,727) | $&nbsp;&nbsp;&nbsp;3855875 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 14.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 14.1%** |  |
| **Commercial and residential – 12.2%** |  |  |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-27, Class 2A1 (12 month Treasury Average Index + 1.350%),<br> 3.398%, 08/25/2035 (D) | 114530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93876 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Alternative Loan Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-56, Class 5A1 (1 month LIBOR + 0.640%),<br> 5.029%, 11/25/2035 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;55919 | $&nbsp;&nbsp;&nbsp;44064 |
| &nbsp;&nbsp;&nbsp;Series 2005-72, Class A1 (1 month LIBOR + 0.540%),<br> 4.929%, 01/25/2036 (D) | &nbsp;&nbsp;&nbsp;&nbsp;14613 | &nbsp;&nbsp;&nbsp;12788 |
| &nbsp;&nbsp;&nbsp;Series 2005-7CB, Class 2A8 (1 month LIBOR + 0.450%),<br> 4.839%, 03/01/2038 (D) | &nbsp;&nbsp;&nbsp;&nbsp;94347 | &nbsp;&nbsp;&nbsp;71910 |
| &nbsp;&nbsp;&nbsp;Series 2006-9T1, Class A1,<br> 5.750%, 05/25/2036 | &nbsp;&nbsp;&nbsp;&nbsp;63795 | &nbsp;&nbsp;&nbsp;28273 |
| American Home Mortgage Assets Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-3, Class 2A11 (12 month Treasury Average Index + 0.940%),<br> 2.988%, 10/25/2046 (D) | &nbsp;&nbsp;&nbsp;&nbsp;32557 | &nbsp;&nbsp;&nbsp;22517 |
| &nbsp;&nbsp;&nbsp;Series 2007-2, Class A1 (1 month LIBOR + 0.125%),<br> 4.514%, 03/25/2047 (D) | &nbsp;&nbsp;&nbsp;&nbsp;12493 | &nbsp;&nbsp;&nbsp;10841 |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (C)(E) | &nbsp;&nbsp;137509 | 127914 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.985%, 04/25/2066 (C)(E) | &nbsp;&nbsp;145243 | 119213 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A2,<br> 1.241%, 01/20/2065 (C)(E) | &nbsp;&nbsp;139055 | 106676 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (C)(E) | &nbsp;&nbsp;360636 | 294165 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.458%, 09/25/2066 (C)(E) | &nbsp;&nbsp;502187 | 396978 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.820%, 11/25/2066 (C)(E) | &nbsp;&nbsp;249726 | 206247 |
| Arroyo Mortgage Trust<br> Series 2019-2, Class A1<br> 3.347%, 04/25/2049 (C)(E) | &nbsp;&nbsp;190566 | 176273 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-BNK8, Class XA IO,<br> 0.713%, 11/15/2050 | 3711620 | 102597 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN18, Class XA IO,<br> 0.892%, 05/15/2062 | 1407116 | &nbsp;&nbsp;&nbsp;60411 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN20, Class XA IO,<br> 0.814%, 09/15/2062 | 2224467 | &nbsp;&nbsp;&nbsp;92325 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN22, Class XA IO,<br> 0.595%, 11/15/2062 | 2429723 | &nbsp;&nbsp;&nbsp;77782 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN23, Class XA IO,<br> 0.693%, 12/15/2052 | 1918184 | &nbsp;&nbsp;&nbsp;70928 |
| &nbsp;&nbsp;&nbsp;Series 2019-BN24, Class XA IO,<br> 0.640%, 11/15/2062 | 1178177 | &nbsp;&nbsp;&nbsp;41264 |
| &nbsp;&nbsp;&nbsp;Series 2020-BN28, Class XA IO,<br> 1.778%, 03/15/2063 | 2547879 | 252078 |
| &nbsp;&nbsp;&nbsp;Series 2021-BN31, Class A4,<br> 2.036%, 02/15/2054 | &nbsp;&nbsp;285000 | 226939 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-C1, Class XA IO,<br> 1.460%, 02/15/2050 | 2906367 | 135702 |
| &nbsp;&nbsp;&nbsp;Series 2017-DELC, Class A (1 month LIBOR + 0.975%),<br> 5.293%, 08/15/2036 (C)(D) | &nbsp;&nbsp;949000 | 932248 |
| &nbsp;&nbsp;&nbsp;Series 2022-C16, Class A5,<br> 4.600%, 06/15/2055 (E) | &nbsp;&nbsp;120000 | 115447 |
| &nbsp;&nbsp;&nbsp;Series 2022-C18, Class A4,<br> 5.439%, 12/15/2055 (E) | &nbsp;&nbsp;150000 | 153885 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 45 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BBCMS Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-C18, Class A5,<br> 5.710%, 12/15/2055 (E) | $&nbsp;&nbsp;&nbsp;&nbsp;50000 | $&nbsp;&nbsp;&nbsp;52315 |
| BCAP LLC Trust<br> Series 2006-AA2, Class A1 (1 month LIBOR + 0.340%)<br> 4.729%, 01/25/2037 (D) | &nbsp;&nbsp;&nbsp;&nbsp;80901 | &nbsp;&nbsp;&nbsp;67943 |
| Bear Stearns ALT-A Trust<br> Series 2005-10, Class 11A1 (1 month LIBOR + 0.500%)<br> 4.889%, 01/25/2036 (D) | &nbsp;&nbsp;&nbsp;&nbsp;80941 | 103497 |
| Bear Stearns Mortgage Funding Trust<br> Series 2006-AR3, Class 1A1 (1 month LIBOR + 0.180%)<br> 4.569%, 10/25/2036 (D) | &nbsp;&nbsp;&nbsp;&nbsp;7024 | &nbsp;&nbsp;&nbsp;&nbsp;5780 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-B1, Class XA IO,<br> 0.531%, 01/15/2051 | &nbsp;&nbsp;988671 | &nbsp;&nbsp;&nbsp;19587 |
| &nbsp;&nbsp;&nbsp;Series 2018-B4, Class XA IO,<br> 0.506%, 07/15/2051 | 2287063 | &nbsp;&nbsp;&nbsp;38731 |
| &nbsp;&nbsp;&nbsp;Series 2018-B8, Class XA IO,<br> 0.626%, 01/15/2052 | 4548115 | 124288 |
| &nbsp;&nbsp;&nbsp;Series 2019-B10, Class XA IO,<br> 1.221%, 03/15/2062 | 3169381 | 164046 |
| &nbsp;&nbsp;&nbsp;Series 2019-B12, Class XA IO,<br> 1.033%, 08/15/2052 | 1062438 | &nbsp;&nbsp;&nbsp;44117 |
| &nbsp;&nbsp;&nbsp;Series 2020-B18, Class XA IO,<br> 1.789%, 07/15/2053 | &nbsp;&nbsp;697106 | &nbsp;&nbsp;&nbsp;54693 |
| &nbsp;&nbsp;&nbsp;Series 2020-B22, Class XA IO,<br> 1.516%, 01/15/2054 | 1161178 | 100510 |
| BINOM Securitization Trust<br> Series 2021-INV1, Class A1<br> 2.034%, 06/25/2056 (C)(E) | &nbsp;&nbsp;170187 | 149173 |
| BPR Trust<br> Series 2022-STAR, Class A (1 month CME Term SOFR + 3.232%)<br> 7.568%, 08/15/2024 (C)(D) | &nbsp;&nbsp;275000 | 270621 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.941%, 02/25/2049 (C)(E) | &nbsp;&nbsp;101272 | &nbsp;&nbsp;&nbsp;83942 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 0.970%, 03/25/2060 (C)(E) | &nbsp;&nbsp;100709 | &nbsp;&nbsp;&nbsp;94305 |
| BX Commercial Mortgage Trust<br> Series 2019-XL, Class A (1 month CME Term SOFR + 1.034%)<br> 5.370%, 10/15/2036 (C)(D) | &nbsp;&nbsp;496755 | 490631 |
| BX Trust<br> Series 2022-PSB, Class A (1 month CME Term SOFR + 2.451%)<br> 6.787%, 08/15/2039 (C)(D) | &nbsp;&nbsp;276798 | 276253 |
| CAMB Commercial Mortgage Trust<br> Series 2019-LIFE, Class F (1 month LIBOR + 2.550%)<br> 6.868%, 12/15/2037 (C)(D) | &nbsp;&nbsp;355000 | 338061 |
| Century Plaza Towers<br> Series 2019-CPT, Class A<br> 2.865%, 11/13/2039 (C) | &nbsp;&nbsp;345000 | 274976 |
| Chase Mortgage Finance Trust<br> Series 2005-S3, Class A10<br> 5.500%, 11/25/2035 | &nbsp;&nbsp;&nbsp;&nbsp;94719 | &nbsp;&nbsp;&nbsp;70041 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-2, Class 2A3 (1 month LIBOR + 0.680%),<br> 5.069%, 03/25/2035 (D) | $&nbsp;&nbsp;&nbsp;&nbsp;24384 | $&nbsp;&nbsp;&nbsp;21175 |
| &nbsp;&nbsp;&nbsp;Series 2007-HY4, Class 1A1,<br> 3.632%, 09/25/2047 (E) | &nbsp;&nbsp;&nbsp;&nbsp;58225 | &nbsp;&nbsp;&nbsp;50364 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-GC23, Class XA IO,<br> 0.904%, 07/10/2047 | 1667131 | &nbsp;&nbsp;&nbsp;18202 |
| &nbsp;&nbsp;&nbsp;Series 2015-GC29, Class XA IO,<br> 1.017%, 04/10/2048 | 1572382 | &nbsp;&nbsp;&nbsp;29102 |
| &nbsp;&nbsp;&nbsp;Series 2016-C3, Class C,<br> 4.078%, 11/15/2049 (E) | &nbsp;&nbsp;288000 | 242753 |
| Citigroup Mortgage Loan Trust<br> Series 2019-E, Class A1 (6.228% to 10-25-23, then 7.228% thereafter)<br> 6.228%, 11/25/2070 (C) | &nbsp;&nbsp;186032 | 183077 |
| COLT Mortgage Loan Trust<br> Series 2021-3, Class A1<br> 0.956%, 09/27/2066 (C)(E) | &nbsp;&nbsp;416354 | 321864 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-CR16, Class A4,<br> 4.051%, 04/10/2047 | &nbsp;&nbsp;480000 | 467804 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR17, Class A5,<br> 3.977%, 05/10/2047 | &nbsp;&nbsp;390000 | 380417 |
| Commercial Mortgage Trust (Deutsche<br> Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-300P, Class A1,<br> 4.353%, 08/10/2030 (C) | &nbsp;&nbsp;260000 | 251391 |
| &nbsp;&nbsp;&nbsp;Series 2015-3BP, Class A,<br> 3.178%, 02/10/2035 (C) | &nbsp;&nbsp;580000 | 536057 |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class A,<br> 2.819%, 01/10/2039 (C) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;85786 |
| &nbsp;&nbsp;&nbsp;Series 2022-HC, Class D,<br> 3.896%, 01/10/2039 (C)(E) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;81563 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-FHA1, Class A1,<br> 3.250%, 04/25/2047 (C)(E) | &nbsp;&nbsp;164349 | 145927 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (C)(E) | &nbsp;&nbsp;300243 | 248630 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM8, Class A1,<br> 1.841%, 10/25/2066 (C)(E) | &nbsp;&nbsp;257641 | 218558 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL4, Class A1,<br> 1.796%, 12/27/2060 (C)(E) | &nbsp;&nbsp;150639 | 137626 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1,<br> 2.265%, 11/25/2066 (C)(E) | &nbsp;&nbsp;612649 | 525621 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-C1, Class A4,<br> 3.505%, 04/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14349 |
| &nbsp;&nbsp;&nbsp;Series 2015-C2, Class XA IO,<br> 0.717%, 06/15/2057 | 4614246 | &nbsp;&nbsp;&nbsp;58005 |
| &nbsp;&nbsp;&nbsp;Series 2016-C6, Class XA IO,<br> 1.863%, 01/15/2049 | 1042478 | &nbsp;&nbsp;&nbsp;48912 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class XA IO<br> 1.709%, 09/15/2053 | &nbsp;&nbsp;527727 | &nbsp;&nbsp;&nbsp;36621 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (C)(E) | &nbsp;&nbsp;100171 | &nbsp;&nbsp;&nbsp;84189 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 46 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Deutsche Alt-A Securities Mortgage Loan Trust<br> Series 2007-AR2, Class A1 (1 month LIBOR + 0.300%)<br> 4.689%, 03/25/2037 (D) | $&nbsp;&nbsp;38549 | $&nbsp;&nbsp;&nbsp;35734 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (C)(E) | &nbsp;&nbsp;98202 | &nbsp;&nbsp;&nbsp;75532 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.206%, 01/25/2067 (C)(E) | 282933 | 236695 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (C)(E) | 202391 | 157297 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (C)(E) | 270436 | 215079 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM7, Class A1,<br> 1.915%, 08/25/2066 (C)(E) | 198584 | 173873 |
| GMACM Mortgage Loan Trust<br> Series 2006-AR1, Class 1A1<br> 2.985%, 04/19/2036 (E) | &nbsp;&nbsp;95910 | &nbsp;&nbsp;&nbsp;71869 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-GC20, Class A5,<br> 3.998%, 04/10/2047 | 395000 | 385985 |
| &nbsp;&nbsp;&nbsp;Series 2022-SHIP, Class A (1 month CME Term SOFR + 0.731%),<br> 5.067%, 08/15/2036 (C)(D) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;44370 |
| GSR Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-AR1, Class 2A1,<br> 3.796%, 01/25/2036 (E) | &nbsp;&nbsp;&nbsp;3123 | &nbsp;&nbsp;&nbsp;&nbsp;2991 |
| &nbsp;&nbsp;&nbsp;Series 2007-1F, Class 4A1 (1 month LIBOR + 0.300%),<br> 4.689%, 01/25/2037 (D) | &nbsp;&nbsp;76309 | &nbsp;&nbsp;&nbsp;21021 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2005-8, Class 1A2A (1 month LIBOR + 0.660%),<br> 4.999%, 09/19/2035 (D) | &nbsp;&nbsp;20667 | &nbsp;&nbsp;&nbsp;14835 |
| &nbsp;&nbsp;&nbsp;Series 2006-12, Class 2A13 (1 month LIBOR + 0.240%),<br> 4.819%, 12/19/2036 (D) | 124688 | 112317 |
| &nbsp;&nbsp;&nbsp;Series 2006-12, Class 2A2A (1 month LIBOR + 0.190%),<br> 4.719%, 01/19/2038 (D) | &nbsp;&nbsp;45418 | &nbsp;&nbsp;&nbsp;39700 |
| &nbsp;&nbsp;&nbsp;Series 2007-7, Class 2A1B (1 month LIBOR + 2.000%),<br> 5.389%, 10/25/2037 (D) | &nbsp;&nbsp;48526 | &nbsp;&nbsp;&nbsp;37600 |
| Imperial Fund Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.073%, 09/25/2056 (C)(E) | 203569 | 162276 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM2, Class A1 (3.638% to 3-25-26, then 4.638% thereafter),<br> 3.638%, 03/25/2067 (C) | 599364 | 544157 |
| IndyMac INDA Mortgage Loan Trust<br> Series 2006-AR3, Class 1A1<br> 3.644%, 12/25/2036 (E) | &nbsp;&nbsp;34001 | &nbsp;&nbsp;&nbsp;28741 |
| JPMBB Commercial Mortgage Securities Trust<br> Series 2014-C19, Class A4<br> 3.997%, 04/15/2047 | 395000 | 385794 |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2020-NNN, Class AFX<br> 2.812%, 01/16/2037 (C) | 160000 | 144507 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| JPMorgan Mortgage Trust<br> Series 2006-A3, Class 3A2<br> 3.349%, 05/25/2036 (E) | $&nbsp;&nbsp;&nbsp;6902 | $&nbsp;&nbsp;&nbsp;&nbsp;5562 |
| Legacy Mortgage Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-GS7, Class A1 (6.250% to 10-25-23, then 7.250% thereafter),<br> 6.250%, 11/25/2059 (C) | 378696 | 378022 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS2, Class A1 (1.750% to 4-25-24, then 4.750% to 4-25-25, then 5.750% thereafter),<br> 1.750%, 04/25/2061 (C) | 152569 | 137906 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS3, Class A1 (1.750% to 5-25-24, then 4.750% to 5-25-25, then 5.750% thereafter),<br> 1.750%, 07/25/2061 (C) | 197453 | 178476 |
| &nbsp;&nbsp;&nbsp;Series 2021-GS4, Class A1 (1.650% to 8-25-24, then 4.650% to 8-25-25, then 5.650% thereafter),<br> 1.650%, 11/25/2060 (C) | 100922 | &nbsp;&nbsp;&nbsp;90214 |
| Lehman XS Trust<br> Series 2006-16N, Class A4A (1 month LIBOR + 0.380%)<br> 4.769%, 11/25/2046 (D) | 106718 | &nbsp;&nbsp;&nbsp;89569 |
| LSTAR Securities Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3, Class A1 (1 month LIBOR + 3.500%),<br> 7.620%, 04/01/2024 (C)(D) | 119987 | 119184 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1 (1 month LIBOR + 3.500%),<br> 7.620%, 05/01/2024 (C)(D) | 223956 | 222638 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A (1 month LIBOR + 1.800%),<br> 5.920%, 02/01/2026 (C)(D) | 241755 | 238123 |
| Luminent Mortgage Trust<br> Series 2006-4, Class A1A (1 month LIBOR + 0.380%)<br> 4.769%, 05/25/2046 (D) | &nbsp;&nbsp;95693 | &nbsp;&nbsp;&nbsp;77486 |
| MASTR Adjustable Rate Mortgages Trust<br> Series 2004-13, Class 3A7<br> 3.874%, 11/21/2034 (E) | &nbsp;&nbsp;12141 | &nbsp;&nbsp;&nbsp;10892 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM3, Class A1,<br> 1.014%, 01/26/2065 (C)(E) | &nbsp;&nbsp;29688 | &nbsp;&nbsp;&nbsp;27079 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.153%, 04/25/2065 (C)(E) | 130454 | 112552 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.029%, 11/25/2064 (C)(E) | 153805 | 124854 |
| Morgan Stanley Bank of America Merrill Lynch Trust<br> Series 2014-C19, Class XA IO<br> 0.954%, 12/15/2047 | 943280 | &nbsp;&nbsp;&nbsp;12558 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-150E, Class A,<br> 3.912%, 09/09/2032 (C) | 610000 | 539476 |
| &nbsp;&nbsp;&nbsp;Series 2017-H1, Class XA IO,<br> 1.325%, 06/15/2050 | 678449 | &nbsp;&nbsp;&nbsp;25495 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-2A, Class A1,<br> 3.750%, 11/26/2035 (C)(E) | 169458 | 156880 |
| &nbsp;&nbsp;&nbsp;Series 2016-4A, Class A1,<br> 3.750%, 11/25/2056 (C)(E) | 191071 | 174407 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 47 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| New Residential Mortgage<br> Loan Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A1,<br> 4.000%, 02/25/2057 (C)(E) | $335897 | $315697 |
| &nbsp;&nbsp;&nbsp;Series 2017-2A, Class A3,<br> 4.000%, 03/25/2057 (C)(E) | 309013 | 289518 |
| &nbsp;&nbsp;&nbsp;Series 2017-3A, Class A1,<br> 4.000%, 04/25/2057 (C)(E) | 243602 | 229889 |
| &nbsp;&nbsp;&nbsp;Series 2017-4A, Class A1,<br> 4.000%, 05/25/2057 (C)(E) | 168141 | 156257 |
| &nbsp;&nbsp;&nbsp;Series 2017-5A, Class A1 (1 month LIBOR + 1.500%),<br> 5.889%, 06/25/2057 (C)(D) | 158068 | 154563 |
| &nbsp;&nbsp;&nbsp;Series 2017-6A, Class A1,<br> 4.000%, 08/27/2057 (C)(E) | 294771 | 275417 |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A1A,<br> 4.000%, 12/25/2057 (C)(E) | 125031 | 117254 |
| &nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1S (1 month LIBOR + 0.750%),<br> 5.139%, 01/25/2048 (C)(D) | 220002 | 210922 |
| &nbsp;&nbsp;&nbsp;Series 2019-5A, Class A1B,<br> 3.500%, 08/25/2059 (C)(E) | 181865 | 168112 |
| &nbsp;&nbsp;&nbsp;Series 2019-NQM4, Class A1,<br> 2.492%, 09/25/2059 (C)(E) | &nbsp;&nbsp;48371 | &nbsp;&nbsp;&nbsp;43578 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQ2R, Class A1,<br> 0.941%, 10/25/2058 (C)(E) | 104859 | &nbsp;&nbsp;&nbsp;90647 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (C)(E) | 435896 | 347597 |
| Oaktown Re II, Ltd.<br> Series 2018-1A, Class M1 (1 month LIBOR + 1.550%)<br> 5.939%, 07/25/2028 (C)(D) | &nbsp;&nbsp;93982 | &nbsp;&nbsp;&nbsp;93905 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.072%, 02/25/2066 (C)(E) | 281448 | 218942 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (C)(E) | 257900 | 193844 |
| &nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1,<br> 2.305%, 11/25/2061 (C)(E) | 504359 | 432213 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-6, Class A1 (2.363% to 11-25-23, then 5.363% to 11-25-24, then 6.363% thereafter),<br> 2.363%, 11/25/2025 (C) | &nbsp;&nbsp;73518 | &nbsp;&nbsp;&nbsp;67838 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1 (1.867% to 4-25-24, then 4.867% to 4-25-25, then 5.867% thereafter),<br> 1.867%, 04/25/2026 (C) | 202320 | 180370 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1 (1.867% to 4-25-24, then 4.867% to 4-25-25, then 5.867% thereafter),<br> 1.867%, 04/25/2026 (C) | 272736 | 244218 |
| &nbsp;&nbsp;&nbsp;Series 2021-9, Class A1 (2.363% to 10-25-24, then 5.363% to 10-25-25, then 6.363% thereafter),<br> 2.363%, 10/25/2026 (C)(E) | 497263 | 447642 |
| RALI Series Trust<br> Series 2007-QH7, Class 1A1 (1 month LIBOR + 0.500%)<br> 4.889%, 08/25/2037 (D) | &nbsp;&nbsp;38920 | &nbsp;&nbsp;&nbsp;34422 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Seasoned Credit Risk Transfer Trust<br> Series 2019-3, Class MV<br> 3.500%, 10/25/2058 | $117878 | $107735 |
| SG Commercial Mortgage Securities Trust<br> Series 2020-COVE, Class A<br> 2.632%, 03/15/2037 (C) | 645000 | 593718 |
| SG Residential Mortgage Trust<br> Series 2021-1, Class A1<br> 1.160%, 07/25/2061 (C)(E) | 364404 | 293051 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 1.219%, 05/25/2065 (C)(E) | 232242 | 209787 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (C)(E) | &nbsp;&nbsp;80673 | &nbsp;&nbsp;&nbsp;74464 |
| &nbsp;&nbsp;&nbsp;Series 2021-6, Class A1,<br> 1.920%, 11/25/2066 (C)(E) | 397401 | 329252 |
| Toorak Mortgage Corp., Ltd.<br> Series 2021-1, Class A1 (2.240% to 1-25-24, then 3.240% thereafter)<br> 2.240%, 06/25/2024 (C) | 330000 | 312079 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1, Class A1,<br> 2.750%, 10/25/2056 (C)(E) | &nbsp;&nbsp;90116 | &nbsp;&nbsp;&nbsp;88600 |
| &nbsp;&nbsp;&nbsp;Series 2017-2, Class A1,<br> 2.750%, 04/25/2057 (C)(E) | &nbsp;&nbsp;22478 | &nbsp;&nbsp;&nbsp;22187 |
| &nbsp;&nbsp;&nbsp;Series 2017-3, Class A1,<br> 2.750%, 07/25/2057 (C)(E) | &nbsp;&nbsp;70901 | &nbsp;&nbsp;&nbsp;69078 |
| &nbsp;&nbsp;&nbsp;Series 2017-4, Class A1,<br> 2.750%, 06/25/2057 (C)(E) | 174676 | 165669 |
| &nbsp;&nbsp;&nbsp;Series 2017-5, Class A1 (1 month LIBOR + 0.600%),<br> 3.773%, 02/25/2057 (C)(D) | &nbsp;&nbsp;89005 | &nbsp;&nbsp;&nbsp;88082 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 2.918%, 11/30/2060 (C)(E) | 612812 | 489259 |
| Triangle RE, Ltd.<br> Series 2021-2, Class M1A (1 month LIBOR + 2.050%)<br> 6.439%, 10/25/2033 (C)(D) | &nbsp;&nbsp;&nbsp;3362 | &nbsp;&nbsp;&nbsp;&nbsp;3362 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 1.031%, 02/25/2066 (C)(E) | 124618 | 103484 |
| &nbsp;&nbsp;&nbsp;Series 2021-8, Class A1,<br> 1.824%, 11/25/2066 (C)(E) | 271699 | 228824 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (C)(E) | 135210 | 122564 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1 (2.724% to 1-25-26, then 3.724% thereafter),<br> 2.724%, 01/25/2067 (C) | 381922 | 331933 |
| WaMu Mortgage Pass-Through Certificates<br> Series 2007-HY6, Class 1A1<br> 3.227%, 06/25/2037 (E) | &nbsp;&nbsp;11943 | &nbsp;&nbsp;&nbsp;10309 |
| Washington Mutual Mortgage Pass-Through Certificates<br> Series 2006-5, Class 1A1 (1 month LIBOR + 0.600%)<br> 4.989%, 07/25/2036 (D) | &nbsp;&nbsp;18356 | &nbsp;&nbsp;&nbsp;11595 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-LC16, Class A5,<br> 3.817%, 08/15/2050 | 310000 | 300977 |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS1, Class D,<br> 4.149%, 05/15/2048 (E) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;34166 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 48 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Wells Fargo Commercial<br> Mortgage Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS1, Class XA IO,<br> 1.073%, 05/15/2048 | $1447729 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25690 |
| &nbsp;&nbsp;&nbsp;Series 2015-NXS3, Class XA IO,<br> 0.878%, 09/15/2057 | 2545184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49920 |
| WF-RBS Commercial Mortgage Trust<br> Series 2014-C19, Class A5<br> 4.101%, 03/15/2047 | &nbsp;&nbsp;304634 | &nbsp;&nbsp;&nbsp;&nbsp;297840 |
|  |  | 25273060 |
| **U.S. Government Agency – 1.9%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-HRP1, Class M2 (1 month LIBOR + 1.650%),<br> 6.039%, 04/25/2043 (C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;9682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9669 |
| &nbsp;&nbsp;&nbsp;Series 3883, Class PB,<br> 3.000%, 05/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;59792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55427 |
| &nbsp;&nbsp;&nbsp;Series 5170, Class DP,<br> 2.000%, 07/25/2050 | &nbsp;&nbsp;455640 | &nbsp;&nbsp;&nbsp;&nbsp;384922 |
| &nbsp;&nbsp;&nbsp;Series K064, Class X1 IO,<br> 0.602%, 03/25/2027 | 2149544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45643 |
| &nbsp;&nbsp;&nbsp;Series K068, Class A2,<br> 3.244%, 08/25/2027 | &nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;517480 |
| &nbsp;&nbsp;&nbsp;Series K104, Class X1 IO,<br> 1.124%, 01/25/2030 | 1305065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79032 |
| &nbsp;&nbsp;&nbsp;Series K111, Class X1 IO,<br> 1.572%, 05/25/2030 | &nbsp;&nbsp;549673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48788 |
| &nbsp;&nbsp;&nbsp;Series K114, Class X1 IO,<br> 1.117%, 06/25/2030 | 1598277 | &nbsp;&nbsp;&nbsp;&nbsp;102966 |
| &nbsp;&nbsp;&nbsp;Series K121, Class X1 IO,<br> 1.024%, 10/25/2030 | &nbsp;&nbsp;847456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49969 |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.882%, 11/25/2030 | &nbsp;&nbsp;478402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24864 |
| &nbsp;&nbsp;&nbsp;Series K124, Class X1 IO,<br> 0.720%, 12/25/2030 | 1907449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83879 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-120, Class ZB,<br> 3.500%, 11/25/2042 | &nbsp;&nbsp;427989 | &nbsp;&nbsp;&nbsp;&nbsp;393605 |
| &nbsp;&nbsp;&nbsp;Series 2012-18, Class GA,<br> 2.000%, 12/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;64351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57380 |
| &nbsp;&nbsp;&nbsp;Series 2012-21, Class PQ,<br> 2.000%, 09/25/2041 | &nbsp;&nbsp;&nbsp;&nbsp;37426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33761 |
| &nbsp;&nbsp;&nbsp;Series 2012-52, Class PA,<br> 3.500%, 05/25/2042 | &nbsp;&nbsp;&nbsp;&nbsp;56661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53406 |
| &nbsp;&nbsp;&nbsp;Series 2014-C04, Class 1M2 (1 month LIBOR + 4.900%),<br> 9.289%, 11/25/2024 (D) | &nbsp;&nbsp;&nbsp;&nbsp;40849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41912 |
| &nbsp;&nbsp;&nbsp;Series 2015-48, Class QB,<br> 3.000%, 02/25/2043 | &nbsp;&nbsp;&nbsp;&nbsp;86596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82114 |
| &nbsp;&nbsp;&nbsp;Series 2016-11, Class GA,<br> 2.500%, 03/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;89645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81940 |
| &nbsp;&nbsp;&nbsp;Series 2016-38, Class NA,<br> 3.000%, 01/25/2046 | &nbsp;&nbsp;&nbsp;&nbsp;47137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42761 |
| &nbsp;&nbsp;&nbsp;Series 2016-C07, Class 2M2 (1 month LIBOR + 4.350%),<br> 8.739%, 05/25/2029 (D) | &nbsp;&nbsp;187019 | &nbsp;&nbsp;&nbsp;&nbsp;192648 |
| &nbsp;&nbsp;&nbsp;Series 2017-26, Class CG,<br> 3.500%, 07/25/2044 | &nbsp;&nbsp;&nbsp;&nbsp;61342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59576 |
| &nbsp;&nbsp;&nbsp;Series 2017-34, Class JK,<br> 3.000%, 05/25/2047 | &nbsp;&nbsp;&nbsp;&nbsp;37260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35270 |
| &nbsp;&nbsp;&nbsp;Series 2017-35, Class AH,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;&nbsp;&nbsp;73602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71564 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-49, Class JA,<br> 4.000%, 07/25/2053 | &nbsp;&nbsp;68542 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67009 |
| &nbsp;&nbsp;&nbsp;Series 2017-84, Class KA,<br> 3.500%, 04/25/2053 | &nbsp;&nbsp;76858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74285 |
| &nbsp;&nbsp;&nbsp;Series 2017-C01, Class 1M2 (1 month LIBOR + 3.550%),<br> 7.939%, 07/25/2029 (D) | 108382 | &nbsp;&nbsp;&nbsp;&nbsp;110562 |
| &nbsp;&nbsp;&nbsp;Series 2018-23, Class LA,<br> 3.500%, 04/25/2048 | 126402 | &nbsp;&nbsp;&nbsp;&nbsp;115945 |
| &nbsp;&nbsp;&nbsp;Series 2018-70, Class HA,<br> 3.500%, 10/25/2056 | &nbsp;&nbsp;92695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88980 |
| &nbsp;&nbsp;&nbsp;Series 2019-12, Class HA,<br> 3.500%, 11/25/2057 | 148666 | &nbsp;&nbsp;&nbsp;&nbsp;140542 |
| &nbsp;&nbsp;&nbsp;Series 2019-14, Class CA,<br> 3.500%, 04/25/2049 | 163851 | &nbsp;&nbsp;&nbsp;&nbsp;155715 |
| &nbsp;&nbsp;&nbsp;Series 2019-45, Class PT,<br> 3.000%, 08/25/2049 | 139205 | &nbsp;&nbsp;&nbsp;&nbsp;125784 |
| &nbsp;&nbsp;&nbsp;Series 2019-7, Class JA,<br> 3.500%, 03/25/2049 | 131022 | &nbsp;&nbsp;&nbsp;&nbsp;123393 |
| &nbsp;&nbsp;&nbsp;Series 2019-HRP1, Class M2 (1 month LIBOR + 2.150%),<br> 6.539%, 11/25/2039 (C)(D) | &nbsp;&nbsp;83527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81637 |
| &nbsp;&nbsp;&nbsp;Series 2019-R03, Class 1M2 (1 month LIBOR + 2.150%),<br> 6.539%, 09/25/2031 (C)(D) | &nbsp;&nbsp;10658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10632 |
| &nbsp;&nbsp;&nbsp;Series 2022-R08, Class 1M1 (1 month SOFR + 2.550%),<br> 6.478%, 07/25/2042 (C)(D) | &nbsp;&nbsp;83546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83808 |
| &nbsp;&nbsp;&nbsp;Series 415, Class A3,<br> 3.000%, 11/25/2042 | 111554 | &nbsp;&nbsp;&nbsp;&nbsp;102332 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-38, Class XS IO,<br> 2.924%, 09/16/2035 | &nbsp;&nbsp;19410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 |
| &nbsp;&nbsp;&nbsp;Series 2013-37, Class LG,<br> 2.000%, 01/20/2042 | &nbsp;&nbsp;69296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65243 |
|  |  | &nbsp;&nbsp;&nbsp;3895059 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,934,173) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $32,934,173) | $29168119 |
| **ASSET BACKED SECURITIES – 11.1%** | **ASSET BACKED SECURITIES – 11.1%** |  |
| AASET Trust<br> Series 2020-1A, Class A<br> 3.351%, 01/16/2040 (C) | 124544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99764 |
| ABFC Trust<br> Series 2006-HE1, Class A2D (1 month LIBOR + 0.220%)<br> 4.609%, 01/25/2037 (D) | &nbsp;&nbsp;96074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56409 |
| Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-Z1, Class A<br> 3.460%, 10/15/2024 (C) | &nbsp;&nbsp;25480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25271 |
| &nbsp;&nbsp;&nbsp;Series 2020-Z2, Class A<br> 1.900%, 01/15/2025 (C) | &nbsp;&nbsp;59653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58033 |
| American Credit Acceptance Receivables Trust<br> Series 2022-3, Class B<br> 4.550%, 10/13/2026 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24507 |
| AmeriCredit Automobile Receivables Trust<br> Series 2019-3, Class D<br> 2.580%, 09/18/2025 | 295000 | &nbsp;&nbsp;&nbsp;&nbsp;283626 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 49 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Amur Equipment Finance Receivables XI LLC<br> Series 2022-2A, Class A2<br> 5.300%, 06/21/2028 (C) | $120000 | $118675 |
| Avant Loans Funding Trust<br> Series 2021-REV1, Class A<br> 1.210%, 07/15/2030 (C) | 225000 | 214299 |
| Bain Capital Credit CLO, Ltd.<br> Series 2017-2A, Class AR2 (3 month LIBOR + 1.180%)<br> 5.538%, 07/25/2034 (C)(D) | 650000 | 632945 |
| BlueMountain CLO XXIV, Ltd.<br> Series 2019-24A, Class AR (3 month LIBOR + 1.100%)<br> 5.343%, 04/20/2034 (C)(D) | 415000 | 402568 |
| Buckhorn Park CLO, Ltd.<br> Series 2019-1A, Class AR (3 month LIBOR + 1.120%)<br> 5.314%, 07/18/2034 (C)(D) | 550000 | 537017 |
| Carvana Auto Receivables Trust<br> Series 2022-P2, Class A3<br> 4.130%, 04/12/2027 | 465000 | 452795 |
| CF Hippolyta Issuer LLC<br> Series 2020-1, Class A2<br> 1.990%, 07/15/2060 (C) | 128816 | 106252 |
| CIFC Funding, Ltd.<br> Series 2017-2A, Class AR (3 month LIBOR + 0.950%)<br> 5.193%, 04/20/2030 (C)(D) | 894715 | 881970 |
| Credit Acceptance Auto Loan Trust<br> Series 2021-3A, Class A<br> 1.000%, 05/15/2030 (C) | 250000 | 238790 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2I<br> 4.116%, 07/25/2048 (C) | 355200 | 336226 |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (C) | 170188 | 147015 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (C) | 265950 | 221186 |
| Drive Auto Receivables Trust<br> Series 2019-4, Class D<br> 2.700%, 02/16/2027 | 221353 | 218000 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-4A, Class D<br> 2.580%, 09/15/2025 (C) | 460772 | 453038 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class D<br> 2.730%, 12/15/2025 (C) | 168618 | 165313 |
| &nbsp;&nbsp;&nbsp;Series 2022-4A, Class B<br> 4.570%, 01/15/2027 | 175000 | 171704 |
| &nbsp;&nbsp;&nbsp;Series 2022-6A, Class B<br> 6.030%, 08/16/2027 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;75089 |
| First Franklin Mortgage Loan Trust<br> Series 2006-FF12, Class A5 (1 month LIBOR + 0.310%)<br> 4.699%, 09/25/2036 (D) | 191176 | 173700 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class A<br> 4.145%, 05/17/2039 (C) | 139213 | 130559 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class A<br> 4.250%, 07/17/2039 (C) | 571766 | 539872 |
| Flagship Credit Auto Trust<br> Series 2022-3, Class B<br> 4.690%, 07/17/2028 (C) | 239000 | 233286 |
| Galaxy XXIII CLO, Ltd.<br> Series 2017-23A, Class AR (3 month LIBOR + 0.870%)<br> 5.195%, 04/24/2029 (C)(D) | 753943 | 743283 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| GLS Auto Receivables Issuer Trust<br> Series 2022-3A, Class B<br> 4.920%, 01/15/2027 (C) | $&nbsp;&nbsp;45000 | $&nbsp;&nbsp;&nbsp;44068 |
| GSAA Home Equity Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2006-10, Class AF3<br> 5.985%, 06/25/2036 (E) | 138612 | &nbsp;&nbsp;&nbsp;36269 |
| &nbsp;&nbsp;&nbsp;Series 2006-15, Class AF6<br> 6.376%, 09/25/2036 | 353916 | &nbsp;&nbsp;&nbsp;99386 |
| &nbsp;&nbsp;&nbsp;Series 2006-20, Class 2A1A (1 month LIBOR + 0.100%)<br> 4.489%, 12/25/2046 (D) | 192817 | &nbsp;&nbsp;&nbsp;97864 |
| GSAA Trust<br> Series 2005-7, Class AF4<br> 5.558%, 05/25/2035 | 169533 | 162371 |
| GSAMP Trust<br> Series 2007-FM2, Class A2B (1 month LIBOR + 0.090%)<br> 4.479%, 01/25/2037 (D) | 186647 | 111981 |
| LCM XX LP<br> Series 2020-A, Class AR (3 month LIBOR + 1.040%)<br> 5.283%, 10/20/2027 (C)(D) | 139104 | 138028 |
| Madison Park Funding XLI, Ltd.<br> Series 12A, Class AR (3 month LIBOR + 0.830%)<br> 5.155%, 04/22/2027 (C)(D) | 639913 | 632993 |
| Madison Park Funding XXXVIII, Ltd.<br> Series 2021-38A, Class A (3 month LIBOR + 1.120%)<br> 5.199%, 07/17/2034 (C)(D) | 655000 | 638516 |
| Marlette Funding Trust<br> Series 2021-2A, Class B<br> 1.060%, 09/15/2031 (C) | 120000 | 117053 |
| Mercury Financial Credit Card Master Trust<br> Series 2021-1A, Class A<br> 1.540%, 03/20/2026 (C) | 250000 | 238514 |
| MF1, Ltd.<br> Series 2022-FL8, Class AS (1 month SOFR + 1.750%)<br> 5.576%, 02/19/2037 (C)(D) | 335000 | 319611 |
| MFA LLC<br> Series 2021-NPL1, Class A1 (2.363% to 3-25-24, then 5.363% to 3-25-25, then 6.363% thereafter)<br> 2.363%, 03/25/2060 (C) | 329136 | 308942 |
| Navient Private Education Refi Loan Trust<br> Series 2021-EA, Class A<br> 0.970%, 12/16/2069 (C) | 178407 | 149455 |
| NRZ Excess Spread-Collateralized Notes<br> Series 2020-PLS1, Class A<br> 3.844%, 12/25/2025 (C) | &nbsp;&nbsp;50693 | &nbsp;&nbsp;&nbsp;46198 |
| PRET LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NPL3, Class A1 (1.868% to 7-25-24, then 4.868% to 7-25-25, then 5.868% thereafter)<br> 1.868%, 07/25/2051 (C) | 216267 | 190843 |
| &nbsp;&nbsp;&nbsp;Series 2021-NPL6, Class A1 (2.487% to 11-25-24, then 5.487% to 11-25-25, then 6.487% thereafter)<br> 2.487%, 07/25/2051 (C) | 211600 | 195489 |
| Pretium Mortgage Credit Partners LLC<br> Series 2022-NPL1, Class A1 (2.981% to 12-25-24, then 5.981% to 12-25-25, then 6.981% thereafter)<br> 2.981%, 01/25/2052 (C) | 546405 | 487938 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 50 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR8, Class A<br> 1.510%, 10/17/2038 (C) | $394059 | $335720 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class A<br> 3.200%, 04/17/2039 (C) | 135000 | 122370 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR5, Class A<br> 4.451%, 06/17/2039 (C) | 104722 | &nbsp;&nbsp;&nbsp;98216 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR6, Class A<br> 4.451%, 07/20/2039 (C) | 625000 | 589828 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR7, Class A<br> 4.750%, 10/27/2039 (C) | 165000 | 158688 |
| Regatta VI Funding, Ltd.<br> Series 2016-1A, Class AR2 (3 month LIBOR + 1.160%)<br> 5.403%, 04/20/2034 (C)(D) | 595000 | 578306 |
| RR 1 LLC<br> Series 2017-1A, Class A1AB (3 month LIBOR + 1.150%)<br> 5.229%, 07/15/2035 (C)(D) | 675000 | 659966 |
| RR 16, Ltd.<br> Series 2021-16A, Class A1 (3 month LIBOR + 1.110%)<br> 5.189%, 07/15/2036 (C)(D) | 585000 | 571813 |
| Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class D<br> 1.480%, 01/15/2027 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;71563 |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class B<br> 4.420%, 11/15/2027 | 350000 | 338631 |
| &nbsp;&nbsp;&nbsp;Series 2022-5, Class B<br> 4.430%, 03/15/2027 | 110000 | 106960 |
| &nbsp;&nbsp;&nbsp;Series 2022-6, Class B<br> 4.720%, 06/15/2027 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;77954 |
| &nbsp;&nbsp;&nbsp;Series 2022-7, Class B<br> 5.950%, 01/17/2028 | 305000 | 307937 |
| Securitized Asset Backed Receivables LLC Trust<br> Series 2006-HE1, Class A2B (1 month LIBOR + 0.180%)<br> 4.569%, 07/25/2036 (D) | 122261 | &nbsp;&nbsp;&nbsp;42586 |
| Sound Point CLO XXIX, Ltd.<br> Series 2021-1A, Class A (3 month LIBOR + 1.070%)<br> 5.428%, 04/25/2034 (C)(D) | 655000 | 630884 |
| Soundview Home Loan Trust<br> Series 2007-OPT2, Class 2A3 (1 month LIBOR + 0.180%)<br> 4.569%, 07/25/2037 (D) | &nbsp;&nbsp;24295 | &nbsp;&nbsp;&nbsp;21807 |
| Summit Issuer LLC<br> Series 2020-1A, Class A2<br> 2.290%, 12/20/2050 (C) | 155000 | 135700 |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2II<br> 2.294%, 08/25/2051 (C) | 885060 | 711029 |
| THL Credit Wind River CLO, Ltd.<br> Series 2020-1A, Class A (3 month LIBOR + 1.430%)<br> 5.673%, 10/20/2033 (C)(D) | 520000 | 509514 |
| TICP CLO III-2, Ltd.<br> Series 2018-3R, Class A (3 month LIBOR + 0.840%)<br> 5.083%, 04/20/2028 (C)(D) | 120772 | 120360 |
| Tricon Residential Trust<br> Series 2022-SFR2, Class A<br> 4.849%, 07/17/2040 (C) | 374496 | 352091 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| VCAT LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NPL2, Class A1 (2.115% to 3-25-24, then 5.115% to 3-25-25, then 6.115% thereafter)<br> 2.115%, 03/27/2051 (C) | $&nbsp;&nbsp;75606 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68317 |
| &nbsp;&nbsp;&nbsp;Series 2021-NPL3, Class A1 (1.743% to 5-25-24, then 4.473% to 5-25-25, then 5.743% thereafter)<br> 1.743%, 05/25/2051 (C) | 239801 | &nbsp;&nbsp;&nbsp;&nbsp;207657 |
| Venture 42 CLO, Ltd.<br> Series 2021-42A, Class A1A (3 month LIBOR + 1.130%)<br> 5.209%, 04/15/2034 (C)(D) | 655000 | &nbsp;&nbsp;&nbsp;&nbsp;633181 |
| Venture 43 CLO, Ltd.<br> Series 2021-43A, Class A1 (3 month LIBOR + 1.240%)<br> 5.319%, 04/15/2034 (C)(D) | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;251992 |
| Venture XXI CLO, Ltd.<br> Series 2015-21A, Class AR (3 month LIBOR + 0.880%)<br> 4.959%, 07/15/2027 (C)(D) | &nbsp;&nbsp;48442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48406 |
| Vericrest Opportunity Loan Transferee<br> Series 2021-NP11, Class A1 (1.868% to 7-25-24, then 4.868% to 7-25-25, then 5.868% thereafter)<br> 1.868%, 08/25/2051 (C) | 460544 | &nbsp;&nbsp;&nbsp;&nbsp;397372 |
| VOLT CIII LLC<br> Series 2021-CF1, Class A1 (1.992% to 8-25-24, then 4.992% to 8-25-25, then 5.992% thereafter)<br> 1.992%, 08/25/2051 (C) | 293939 | &nbsp;&nbsp;&nbsp;&nbsp;263508 |
| VOLT XCIV LLC<br> Series 2021-NPL3, Class A1 (2.240% to 1-25-24, then 5.239% to 1-25-25, then 6.239% thereafter)<br> 2.240%, 02/27/2051 (C) | 277500 | &nbsp;&nbsp;&nbsp;&nbsp;250863 |
| Voya CLO, Ltd.<br> Series 2015-1A, Class A1R (3 month LIBOR + 0.900%)<br> 5.094%, 01/18/2029 (C)(D) | 521941 | &nbsp;&nbsp;&nbsp;&nbsp;516628 |
| Wellfleet CLO X, Ltd.<br> Series 2019-XA, Class A1R (3 month LIBOR + 1.170%)<br> 5.413%, 07/20/2032 (C)(D) | 520000 | &nbsp;&nbsp;&nbsp;&nbsp;506561 |
| Wendy's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2II<br> 3.884%, 03/15/2048 (C) | 223250 | &nbsp;&nbsp;&nbsp;&nbsp;201092 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (C) | 576225 | &nbsp;&nbsp;&nbsp;&nbsp;465200 |
| Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3A, Class D<br> 2.720%, 11/15/2024 (C) | 277962 | &nbsp;&nbsp;&nbsp;&nbsp;276148 |
| &nbsp;&nbsp;&nbsp;Series 2020-3A, Class D<br> 1.650%, 02/17/2026 (C) | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;203735 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class B<br> 4.310%, 09/15/2027 (C) | 270000 | &nbsp;&nbsp;&nbsp;&nbsp;262880 |
| Wingstop Funding LLC<br> Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (C) | &nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83663 |
| TOTAL ASSET BACKED SECURITIES (Cost $24,327,892) |  | $22935837 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Energy – 0.0%** |  |  |
| Foresight Energy LLC (F) | &nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9392 |
| TOTAL COMMON STOCKS (Cost $119,514) | TOTAL COMMON STOCKS (Cost $119,514) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9392 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 51 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 3.5%** | **SHORT-TERM INVESTMENTS – 3.5%** |  |
| **Repurchase agreement – 3.5%** |  |  |
| Deutsche Bank Tri-Party Repurchase Agreement dated 12-30-22 at 4.290% to be repurchased at $7,103,384 on 1-3-23, collateralized by $7,234,786 Federal National Mortgage Association, 3.500% - 6.000% due 6-1-52 to 12-1-52 (valued at $7,242,001) | $7100000 | $&nbsp;&nbsp;&nbsp;&nbsp;7100000 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,100,000) | TOTAL SHORT-TERM INVESTMENTS (Cost $7,100,000) | $&nbsp;&nbsp;&nbsp;&nbsp;7100000 |
| **Total Investments (Investment Quality Bond Trust)<br> (Cost $287,101,301) – 123.8%** | **Total Investments (Investment Quality Bond Trust)<br> (Cost $287,101,301) – 123.8%** | $**255694288** |
| **Other assets and liabilities, net – (23.8%)** |  | **(49084474)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**206609814** |

---

<u>Currency Abbreviations</u> <br> BRL Brazilian Real <br> EUR Euro

<u>Security Abbreviations and Legend</u> <br> CME Chicago Mercantile Exchange

---

| | |
|:---|:---|
| CMT | Constant Maturity Treasury |
| GO | General Obligation |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $60,505,890 or 29.3% of the fund's net assets as of 12-31-22. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (F) | Non-income producing security. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1912417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1810823 | &nbsp;&nbsp;&nbsp;&nbsp;$(101594) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10593401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10577111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16290) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;(21958876) | &nbsp;&nbsp;&nbsp;&nbsp;(21897891) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60985 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5559423) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5537109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22314 |
| Euro SCHATZ Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4104789) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4062484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42305 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1216124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1013373) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202751 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2872117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2703602) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168515 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7422922) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7395281) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27641 |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7584837) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7521500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63337 |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1783030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1774219) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8811 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$478775** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;866801 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;4690000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(9893) |
| USD | &nbsp;&nbsp;4863443 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4598000 | &nbsp;&nbsp;DB | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(82091) |
|  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$(91984)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | 2185000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2041 | $(11594) | &nbsp;&nbsp;&nbsp;$592157 | $580563 |
| Centrally cleared | 1320000 | USD | Fixed 1.560% | USD Compounded SOFR | Annual | Annual | Dec 2051 | &nbsp;&nbsp;&nbsp;(7975) | &nbsp;&nbsp;&nbsp;&nbsp;415602 | &nbsp;&nbsp;407627 |
|  |  |  |  |  |  |  |  | **$(19569)** | **$1007759** | **$988190** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 52 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Investment Quality Bond Trust (continued)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Centrally cleared | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;937000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;$937000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;$46223 | &nbsp;&nbsp;&nbsp;&nbsp;$1835 | &nbsp;&nbsp;&nbsp;$48058 |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.38 | &nbsp;&nbsp;1090000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;88200 | &nbsp;&nbsp;&nbsp;(24802) | &nbsp;&nbsp;&nbsp;&nbsp;63398 |
|  |  |  |  | &nbsp;&nbsp;**$2027000** |  |  |  | &nbsp;&nbsp;**$134423** | &nbsp;&nbsp;**$(22967)** | &nbsp;&nbsp;**$111456** |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| BRL | Brazilian Real |
| EUR | Euro |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| CITI | Citibank, N.A. |
| DB | Deutsche Bank AG |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Money Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT – 4.6%** |  |  |
| U.S. Treasury Note |  |  |
| &nbsp;&nbsp;&nbsp;4.239%, (3 month USBMMY + 0.049%), 01/31/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32683900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32691126 |
| &nbsp;&nbsp;&nbsp;4.295%, (3 month USBMMY + 0.034%), 04/30/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32679000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32699931 |
| &nbsp;&nbsp;&nbsp;4.378%, (3 month USBMMY - 0.075%), 04/30/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15001000 |
| &nbsp;&nbsp;&nbsp;4.505%, (3 month USBMMY + 0.037%), 07/31/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26848500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26845248 |
| TOTAL U.S. GOVERNMENT (Cost $107,237,305) |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107237305 |
| **U.S. GOVERNMENT AGENCY – 73.7%** | **U.S. GOVERNMENT AGENCY – 73.7%** |  |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.246%, 06/02/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654000 |
| &nbsp;&nbsp;&nbsp;2.306%, 06/08/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9953000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9953000 |
| &nbsp;&nbsp;&nbsp;2.855%, 03/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9281000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9241609 |
| &nbsp;&nbsp;&nbsp;3.351%, 08/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 02/14/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 02/24/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19848000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19848000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 03/01/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16299000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16299000 |
| &nbsp;&nbsp;&nbsp;4.390%, (SOFR + 0.030%), 04/04/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10067000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10067000 |
| &nbsp;&nbsp;&nbsp;4.395%, (SOFR + 0.035%), 04/06/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20070000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 03/17/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13488000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13488000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 03/29/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26927000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26927000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 03/03/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 |
| &nbsp;&nbsp;&nbsp;4.852%, 08/04/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282304 |
| &nbsp;&nbsp;&nbsp;4.961%, 11/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9854000 |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;1.116%, 01/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606555 |

---

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Farm Credit Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;1.716%, 01/18/2023 | $12264000 | $12254208 |
| &nbsp;&nbsp;&nbsp;1.962%, 02/21/2023 | &nbsp;&nbsp;4506000 | &nbsp;&nbsp;&nbsp;4502712 |
| &nbsp;&nbsp;&nbsp;2.037%, 03/27/2023 | &nbsp;&nbsp;5308000 | &nbsp;&nbsp;&nbsp;5282934 |
| &nbsp;&nbsp;&nbsp;3.234%, 05/23/2023 | &nbsp;&nbsp;6597000 | &nbsp;&nbsp;&nbsp;6515032 |
| &nbsp;&nbsp;&nbsp;4.169%, 01/26/2023 | 13175000 | 13137488 |
| &nbsp;&nbsp;&nbsp;4.169%, 01/27/2023 | &nbsp;&nbsp;9819000 | &nbsp;&nbsp;&nbsp;9789925 |
| &nbsp;&nbsp;&nbsp;4.328%, 01/19/2023 | &nbsp;&nbsp;6100000 | &nbsp;&nbsp;&nbsp;6095534 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.015%), 05/02/2023 (A) | 36654000 | 36653384 |
| &nbsp;&nbsp;&nbsp;4.382%, (U.S. Federal Funds Effective Rate - 0.005%), 06/22/2023 (A) | &nbsp;&nbsp;7580000 | &nbsp;&nbsp;&nbsp;7580111 |
| &nbsp;&nbsp;&nbsp;4.385%, (U.S. Federal Funds Effective Rate - 0.015%), 05/15/2023 (A) | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;3999851 |
| &nbsp;&nbsp;&nbsp;4.385%, (SOFR + 0.015%), 01/09/2023 (A) | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;8999980 |
| &nbsp;&nbsp;&nbsp;4.388%, (SOFR + 0.030%), 06/14/2023 (A) | 37285000 | 37285418 |
| &nbsp;&nbsp;&nbsp;4.390%, (SOFR + 0.035%), 04/21/2023 (A) | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;9000137 |
| &nbsp;&nbsp;&nbsp;4.390%, (SOFR + 0.030%), 04/06/2023 (A) | 16846000 | 16846000 |
| &nbsp;&nbsp;&nbsp;4.395%, (SOFR + 0.040%), 01/25/2024 (A) | &nbsp;&nbsp;9965000 | &nbsp;&nbsp;&nbsp;9965528 |
| &nbsp;&nbsp;&nbsp;4.398%, (Prime rate - 3.170%), 01/26/2023 (A) | 16308000 | 16307915 |
| &nbsp;&nbsp;&nbsp;4.400%, (Prime rate - 3.160%), 05/18/2023 (A) | &nbsp;&nbsp;6969000 | &nbsp;&nbsp;&nbsp;6969000 |
| &nbsp;&nbsp;&nbsp;4.400%, (Prime rate - 3.160%), 07/26/2023 (A) | 13378000 | 13378000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 02/09/2024 (A) | &nbsp;&nbsp;3262000 | &nbsp;&nbsp;&nbsp;3262000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 02/05/2024 (A) | &nbsp;&nbsp;3338000 | &nbsp;&nbsp;&nbsp;3338000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 03/18/2024 (A) | 13297000 | 13297000 |
| &nbsp;&nbsp;&nbsp;4.405%, (Prime rate - 3.155%), 09/08/2023 (A) | &nbsp;&nbsp;8500000 | &nbsp;&nbsp;&nbsp;8500000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 53 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Farm Credit Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.411%, (Prime rate - 3.150%), 07/26/2023 (A) | $13238000 | $13237981 |
| &nbsp;&nbsp;&nbsp;4.415%, (Prime rate - 3.145%), 03/15/2023 (A) | &nbsp;&nbsp;7011000 | &nbsp;&nbsp;&nbsp;7011000 |
| &nbsp;&nbsp;&nbsp;4.418%, (SOFR + 0.135%), 11/06/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;300193 |
| &nbsp;&nbsp;&nbsp;4.421%, (SOFR + 0.060%), 07/08/2024 (A) | &nbsp;&nbsp;9982000 | &nbsp;&nbsp;&nbsp;9982000 |
| &nbsp;&nbsp;&nbsp;4.441%, (Prime rate - 3.120%), 01/08/2024 (A) | 10717000 | 10717000 |
| &nbsp;&nbsp;&nbsp;4.441%, (SOFR + 0.080%), 07/22/2024 (A) | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;4000000 |
| &nbsp;&nbsp;&nbsp;4.457%, (SOFR + 0.320%), 06/09/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;154149 |
| &nbsp;&nbsp;&nbsp;4.459%, (Prime rate - 3.140%), 04/12/2024 (A) | 10030000 | 10025282 |
| &nbsp;&nbsp;&nbsp;4.461%, (U.S. Federal Funds Effective Rate + 0.070%), 10/04/2024 (A) | 13238000 | 13238000 |
| &nbsp;&nbsp;&nbsp;4.462%, (SOFR + 0.085%), 07/22/2024 (A) | &nbsp;&nbsp;6615000 | &nbsp;&nbsp;&nbsp;6613460 |
| &nbsp;&nbsp;&nbsp;4.465%, (SOFR + 0.030%), 10/20/2023 (A) | &nbsp;&nbsp;6549000 | &nbsp;&nbsp;&nbsp;6545213 |
| &nbsp;&nbsp;&nbsp;4.482%, (3 month USBMMY + 0.023%), 07/17/2023 (A) | 10000000 | 10000000 |
| &nbsp;&nbsp;&nbsp;4.490%, (3 month USBMMY + 0.025%), 06/15/2023 (A) | 10277000 | 10276764 |
| &nbsp;&nbsp;&nbsp;4.502%, (SOFR + 0.140%), 11/07/2024 (A) | &nbsp;&nbsp;7894000 | &nbsp;&nbsp;&nbsp;7894000 |
| &nbsp;&nbsp;&nbsp;4.503%, (Prime rate - 3.085%), 08/08/2024 (A) | 13232000 | 13226669 |
| &nbsp;&nbsp;&nbsp;4.504%, (SOFR + 0.120%), 01/22/2024 (A) | &nbsp;&nbsp;3284000 | &nbsp;&nbsp;&nbsp;3283255 |
| &nbsp;&nbsp;&nbsp;4.504%, (Prime rate - 3.090%), 11/02/2023 (A) | &nbsp;&nbsp;9909000 | &nbsp;&nbsp;&nbsp;9906350 |
| &nbsp;&nbsp;&nbsp;4.515%, (3 month USBMMY + 0.055%), 01/31/2023 (A) | 14262000 | 14262000 |
| &nbsp;&nbsp;&nbsp;4.522%, (Prime rate - 3.040%), 10/17/2024 (A) | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;6000000 |
| &nbsp;&nbsp;&nbsp;4.526%, (SOFR + 0.110%), 02/14/2025 (A) | &nbsp;&nbsp;4019000 | &nbsp;&nbsp;&nbsp;4014715 |
| &nbsp;&nbsp;&nbsp;4.526%, (Prime rate - 3.120%), 10/24/2023 (A) | &nbsp;&nbsp;6564000 | &nbsp;&nbsp;&nbsp;6559624 |
| &nbsp;&nbsp;&nbsp;4.563%, (SOFR + 0.200%), 12/05/2024 (A) | 11000000 | 11000000 |
| &nbsp;&nbsp;&nbsp;4.613%, (Prime rate - 2.950%), 12/16/2024 (A) | &nbsp;&nbsp;5889000 | &nbsp;&nbsp;&nbsp;5889000 |
| &nbsp;&nbsp;&nbsp;4.803%, 08/15/2023 | &nbsp;&nbsp;2615000 | &nbsp;&nbsp;&nbsp;2539485 |
| &nbsp;&nbsp;&nbsp;4.822%, 08/29/2023 | &nbsp;&nbsp;6537000 | &nbsp;&nbsp;&nbsp;6336096 |
| &nbsp;&nbsp;&nbsp;4.839%, 11/21/2023 | &nbsp;&nbsp;1974000 | &nbsp;&nbsp;&nbsp;1973159 |
| &nbsp;&nbsp;&nbsp;4.861%, 11/15/2023 | &nbsp;&nbsp;5229000 | &nbsp;&nbsp;&nbsp;5016528 |
| &nbsp;&nbsp;&nbsp;4.908%, 11/02/2023 | &nbsp;&nbsp;&nbsp;&nbsp;543000 | &nbsp;&nbsp;&nbsp;&nbsp;521608 |
| &nbsp;&nbsp;&nbsp;4.952%, 09/14/2023 | &nbsp;&nbsp;&nbsp;&nbsp;657000 | &nbsp;&nbsp;&nbsp;&nbsp;636213 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;1.933%, 03/02/2023 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;&nbsp;1988683 |
| &nbsp;&nbsp;&nbsp;1.952%, 04/28/2023 | &nbsp;&nbsp;2095000 | &nbsp;&nbsp;&nbsp;2083178 |
| &nbsp;&nbsp;&nbsp;2.206%, 06/16/2023 | &nbsp;&nbsp;9980000 | &nbsp;&nbsp;&nbsp;9980000 |
| &nbsp;&nbsp;&nbsp;2.453%, 05/03/2023 | 19950000 | 19950000 |
| &nbsp;&nbsp;&nbsp;2.521%, 05/23/2023 | 16645000 | 16645000 |
| &nbsp;&nbsp;&nbsp;2.527%, 06/29/2023 | &nbsp;&nbsp;9935000 | &nbsp;&nbsp;&nbsp;9935000 |
| &nbsp;&nbsp;&nbsp;2.535%, 06/14/2023 | &nbsp;&nbsp;6965000 | &nbsp;&nbsp;&nbsp;6965000 |
| &nbsp;&nbsp;&nbsp;2.687%, 06/29/2023 | 10030000 | 10030000 |
| &nbsp;&nbsp;&nbsp;3.030%, 03/17/2023 | 11271000 | 11201261 |
| &nbsp;&nbsp;&nbsp;3.050%, 04/24/2023 | 19820000 | 19634606 |
| &nbsp;&nbsp;&nbsp;3.084%, 07/28/2023 | &nbsp;&nbsp;6615000 | &nbsp;&nbsp;&nbsp;6615565 |
| &nbsp;&nbsp;&nbsp;3.224%, 08/15/2023 | &nbsp;&nbsp;9910000 | &nbsp;&nbsp;&nbsp;9910000 |
| &nbsp;&nbsp;&nbsp;3.351%, 08/22/2023 | &nbsp;&nbsp;6595000 | &nbsp;&nbsp;&nbsp;6594871 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Home Loan Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.372%, 08/18/2023 | $&nbsp;&nbsp;9935000 | $&nbsp;&nbsp;&nbsp;9935000 |
| &nbsp;&nbsp;&nbsp;4.084%, 01/18/2023 | 13600000 | 13574183 |
| &nbsp;&nbsp;&nbsp;4.141%, 01/11/2023 | 16414000 | 16395397 |
| &nbsp;&nbsp;&nbsp;4.244%, 02/01/2023 | 16442000 | 16382945 |
| &nbsp;&nbsp;&nbsp;4.277%, 02/08/2023 | 13169000 | 13110617 |
| &nbsp;&nbsp;&nbsp;4.289%, 01/30/2023 | &nbsp;&nbsp;3900000 | &nbsp;&nbsp;&nbsp;3893236 |
| &nbsp;&nbsp;&nbsp;4.304%, 01/31/2023 | 19729000 | 19659455 |
| &nbsp;&nbsp;&nbsp;4.308%, 01/06/2023 | &nbsp;&nbsp;2770000 | &nbsp;&nbsp;&nbsp;2769027 |
| &nbsp;&nbsp;&nbsp;4.319%, 02/10/2023 | 26141000 | 26017847 |
| &nbsp;&nbsp;&nbsp;4.323%, 02/17/2023 | 13117000 | 13044390 |
| &nbsp;&nbsp;&nbsp;4.349%, 02/15/2023 | 26236000 | 26096067 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 01/04/2023 (A) | 33020000 | 33020000 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 01/05/2023 (A) | 12000000 | 12000000 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 01/17/2023 (A) | 26445000 | 26445000 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 01/25/2023 (A) | 26450000 | 26450000 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 02/21/2023 (A) | 16585000 | 16585000 |
| &nbsp;&nbsp;&nbsp;4.370%, (SOFR + 0.010%), 03/30/2023 (A) | 16290000 | 16290000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 01/09/2023 (A) | 10000000 | 10000000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 01/23/2023 (A) | 13260000 | 13260000 |
| &nbsp;&nbsp;&nbsp;4.380%, (SOFR + 0.020%), 04/21/2023 (A) | 13085000 | 13085000 |
| &nbsp;&nbsp;&nbsp;4.383%, (SOFR + 0.010%), 01/17/2023 (A) | 31625000 | 31624822 |
| &nbsp;&nbsp;&nbsp;4.383%, (SOFR + 0.010%), 01/03/2023 (A) | 19815000 | 19814986 |
| &nbsp;&nbsp;&nbsp;4.390%, (SOFR + 0.030%), 02/28/2023 (A) | &nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;7000000 |
| &nbsp;&nbsp;&nbsp;4.397%, 02/22/2023 | &nbsp;&nbsp;6579000 | &nbsp;&nbsp;&nbsp;6538042 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 10/06/2023 (A) | 19965000 | 19965000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 01/30/2023 (A) | 16520000 | 16520000 |
| &nbsp;&nbsp;&nbsp;4.400%, (SOFR + 0.040%), 06/05/2023 (A) | 16340000 | 16340000 |
| &nbsp;&nbsp;&nbsp;4.404%, (SOFR + 0.020%), 01/06/2023 (A) | &nbsp;&nbsp;8385000 | &nbsp;&nbsp;&nbsp;8384972 |
| &nbsp;&nbsp;&nbsp;4.405%, (SOFR + 0.045%), 05/23/2023 (A) | 23220000 | 23220000 |
| &nbsp;&nbsp;&nbsp;4.405%, (SOFR + 0.045%), 03/03/2023 (A) | 19860000 | 19860000 |
| &nbsp;&nbsp;&nbsp;4.405%, (SOFR + 0.045%), 02/23/2023 (A) | 13205000 | 13205000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 03/28/2023 (A) | 16530000 | 16530000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 02/08/2023 (A) | 13215000 | 13215000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 02/21/2023 (A) | 16450000 | 16450000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 03/01/2023 (A) | 19405000 | 19405000 |
| &nbsp;&nbsp;&nbsp;4.410%, (SOFR + 0.050%), 03/03/2023 (A) | 16430000 | 16430000 |
| &nbsp;&nbsp;&nbsp;4.411%, (SOFR + 0.010%), 01/03/2023 (A) | &nbsp;&nbsp;9735000 | &nbsp;&nbsp;&nbsp;9734978 |
| &nbsp;&nbsp;&nbsp;4.415%, (SOFR + 0.055%), 04/03/2023 (A) | 19865000 | 19865000 |
| &nbsp;&nbsp;&nbsp;4.415%, (SOFR + 0.055%), 03/02/2023 (A) | 16515000 | 16515000 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 54 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Money Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AGENCY (continued)** | **U.S. GOVERNMENT AGENCY (continued)** |  |
| Federal Home Loan Bank (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.419%, (SOFR + 0.020%), 01/06/2023 (A) | &nbsp;&nbsp;&nbsp;5460000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5459971 |
| &nbsp;&nbsp;&nbsp;4.419%, (SOFR + 0.020%), 01/10/2023 (A) | &nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499967 |
| &nbsp;&nbsp;&nbsp;4.421%, (SOFR + 0.060%), 04/06/2023 (A) | &nbsp;&nbsp;13210000 | &nbsp;&nbsp;&nbsp;&nbsp;13210000 |
| &nbsp;&nbsp;&nbsp;4.421%, (SOFR + 0.060%), 04/10/2023 (A) | &nbsp;&nbsp;36300000 | &nbsp;&nbsp;&nbsp;&nbsp;36300000 |
| &nbsp;&nbsp;&nbsp;4.421%, (SOFR + 0.060%), 04/18/2023 (A) | &nbsp;&nbsp;19735000 | &nbsp;&nbsp;&nbsp;&nbsp;19735000 |
| &nbsp;&nbsp;&nbsp;4.431%, (SOFR + 0.070%), 04/03/2023 (A) | &nbsp;&nbsp;32865000 | &nbsp;&nbsp;&nbsp;&nbsp;32865000 |
| &nbsp;&nbsp;&nbsp;4.449%, 03/14/2023 | &nbsp;&nbsp;&nbsp;6549000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6492024 |
| &nbsp;&nbsp;&nbsp;4.451%, (SOFR + 0.090%), 08/21/2023 (A) | &nbsp;&nbsp;19735000 | &nbsp;&nbsp;&nbsp;&nbsp;19735000 |
| &nbsp;&nbsp;&nbsp;4.457%, 02/28/2023 | &nbsp;&nbsp;&nbsp;6572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6525782 |
| &nbsp;&nbsp;&nbsp;4.461%, (SOFR + 0.100%), 09/21/2023 (A) | &nbsp;&nbsp;13180000 | &nbsp;&nbsp;&nbsp;&nbsp;13180000 |
| &nbsp;&nbsp;&nbsp;4.472%, 03/03/2023 | &nbsp;&nbsp;16431000 | &nbsp;&nbsp;&nbsp;&nbsp;16309110 |
| &nbsp;&nbsp;&nbsp;4.497%, 04/13/2023 | &nbsp;&nbsp;&nbsp;2207000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179611 |
| &nbsp;&nbsp;&nbsp;4.522%, 04/21/2023 | &nbsp;&nbsp;&nbsp;1223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206557 |
| &nbsp;&nbsp;&nbsp;4.526%, 03/08/2023 | &nbsp;&nbsp;16442000 | &nbsp;&nbsp;&nbsp;&nbsp;16308524 |
| &nbsp;&nbsp;&nbsp;4.532%, 03/15/2023 | &nbsp;&nbsp;16461000 | &nbsp;&nbsp;&nbsp;&nbsp;16313130 |
| &nbsp;&nbsp;&nbsp;4.536%, 03/21/2023 | &nbsp;&nbsp;16396000 | &nbsp;&nbsp;&nbsp;&nbsp;16236608 |
| &nbsp;&nbsp;&nbsp;4.764%, 06/14/2023 | &nbsp;&nbsp;&nbsp;9877000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9670022 |
| &nbsp;&nbsp;&nbsp;4.779%, 11/01/2023 | &nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924140 |
| &nbsp;&nbsp;&nbsp;4.800%, 12/21/2023 | &nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499148 |
| &nbsp;&nbsp;&nbsp;4.874%, 09/06/2023 | &nbsp;&nbsp;&nbsp;4145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112335 |
| &nbsp;&nbsp;&nbsp;4.900%, 11/07/2023 | &nbsp;&nbsp;&nbsp;7310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7310876 |
| &nbsp;&nbsp;&nbsp;4.989%, 11/28/2023 | &nbsp;&nbsp;&nbsp;2770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768242 |
| &nbsp;&nbsp;&nbsp;5.014%, 12/12/2023 | &nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.198%, 04/20/2023 | &nbsp;&nbsp;&nbsp;3907000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3885881 |
| &nbsp;&nbsp;&nbsp;4.637%, 05/05/2023 | &nbsp;&nbsp;&nbsp;4693000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626157 |
| &nbsp;&nbsp;&nbsp;4.705%, 06/19/2023 | &nbsp;&nbsp;&nbsp;1944000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926828 |
| &nbsp;&nbsp;&nbsp;4.716%, 10/16/2023 | &nbsp;&nbsp;&nbsp;2582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491827 |
| &nbsp;&nbsp;&nbsp;4.789%, 09/08/2023 | &nbsp;&nbsp;&nbsp;3974000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3854460 |
| &nbsp;&nbsp;&nbsp;4.800%, 11/13/2023 | &nbsp;&nbsp;&nbsp;1371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319738 |
| &nbsp;&nbsp;&nbsp;4.803%, 08/24/2023 | &nbsp;&nbsp;&nbsp;4249000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128074 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.255%, 05/22/2023 | &nbsp;&nbsp;11497000 | &nbsp;&nbsp;&nbsp;&nbsp;11408797 |
| &nbsp;&nbsp;&nbsp;3.795%, 01/19/2023 | &nbsp;&nbsp;&nbsp;8668000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8661869 |
| &nbsp;&nbsp;&nbsp;4.728%, 07/10/2023 | &nbsp;&nbsp;&nbsp;4717000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4609539 |
| &nbsp;&nbsp;&nbsp;5.019%, 12/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;658000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630491 |
| TOTAL U.S. GOVERNMENT AGENCY (Cost $1,716,559,205) |  | $1716559205 |
| **REPURCHASE AGREEMENT – 21.9%** | **REPURCHASE AGREEMENT – 21.9%** |  |
| Barclays Tri-Party Repurchase Agreement dated 12-30-22 at 4.250% to be repurchased at $30,014,167 on 1-3-23, collateralized by $34,457,710 U.S. Treasury Inflation Indexed Notes, 0.125% due 1-15-31 (valued at $30,614,526) | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;30000000 |
| Goldman Sachs Tri-Party Repurchase Agreement dated 12-30-22 at 4.240% to be repurchased at $140,065,956 on 1-3-23, collateralized by $133,808,117 U.S. Treasury Inflation Indexed Bonds, 2.125% due 2-15-41 (valued at $142,867,329) | 140000000 | &nbsp;&nbsp;&nbsp;&nbsp;140000000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **REPURCHASE AGREEMENT (continued)** | **REPURCHASE AGREEMENT (continued)** |  |
| Repurchase Agreement with State Street Corp. dated 12-30-22 at 1.630% to be repurchased at $154,028 on 1-3-23, collateralized by $156,300 U.S. Treasury Notes, 1.750% due 1-31-23 (valued at $157,126) | &nbsp;&nbsp;&nbsp;&nbsp;154000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154000 |
| Repurchase Agreement with State Street Corp. dated 12-30-22 at 4.260% to be repurchased at $339,360,555 on 1-3-23, collateralized by $304,648,400 U.S. Treasury Inflation Indexed Notes, 0.750% due 7-15-28 (valued at $345,984,052) | 339200000 | &nbsp;&nbsp;&nbsp;&nbsp;339200000 |
| TOTAL REPURCHASE AGREEMENT (Cost $509,354,000) | TOTAL REPURCHASE AGREEMENT (Cost $509,354,000) | $&nbsp;&nbsp;&nbsp;&nbsp;509354000 |
| **Total Investments (Money Market Trust)<br> (Cost $2,333,150,510) – 100.2%** | **Total Investments (Money Market Trust)<br> (Cost $2,333,150,510) – 100.2%** | $**2333150510** |
| **Other assets and liabilities, net – (0.2%)** |  | &nbsp;&nbsp;&nbsp;&nbsp;**(3853015)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**2329297495** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| SOFR | Secured Overnight Financing Rate |
| USBMMY | U.S. Treasury Bill Money Market Yield |
| (A) | Variable rate obligation. |

---

#### Opportunistic Fixed Income Trust

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS - 18.4%** |  |  |  |
| **U.S. Government - 4.7%** |  |  |  |
| U.S. Treasury Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2052 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8898 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2052 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18025 |
| U.S. Treasury Notes<br> 4.125%, 09/30/2027 to 11/15/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148495 |
| U.S. Treasury Treasury Inflation<br> Protected Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 02/15/2050 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499632 |
| &nbsp;&nbsp;&nbsp;1.625%, 10/15/2027 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6922456 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7597506 |
| **U.S. Government Agency - 13.7%** |  |  |  |
| Federal National Mortgage Association<br> 4.500%, TBA (A) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22751000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21929815 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,097,967) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,097,967) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $30,097,967) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29527321 |
| **FOREIGN GOVERNMENT OBLIGATIONS - 42.5%** | **FOREIGN GOVERNMENT OBLIGATIONS - 42.5%** | **FOREIGN GOVERNMENT OBLIGATIONS - 42.5%** |  |
| **Argentina - 0.2%** |  |  |  |
| Republic of Argentina |  |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 07/09/2029 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9217 |
| &nbsp;&nbsp;&nbsp;1.500%, (1.500% to 7-9-23, then 3.625% to 7-9-24, then 4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter), 07/09/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389204 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398421 |
| **Australia - 1.6%** |  |  |  |
| Commonwealth of Australia |  |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 11/21/2032 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120022 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/21/2051 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386668 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 55 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Australia (continued)** |  |  |
| Commonwealth of Australia, Inflation Linked Bond<br> 1.495%, 08/21/2040 | &nbsp;&nbsp;&nbsp;&nbsp;1370000 | $1006388 |
|  |  | 2513078 |
| **Benin - 0.1%** |  |  |
| Republic of Benin<br> 4.950%, 01/22/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;217076 |
| **Brazil - 5.9%** |  |  |
| Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;10.000%, 01/01/2025 to 01/01/2033 | &nbsp;&nbsp;&nbsp;&nbsp;51689000 | 8811004 |
| &nbsp;&nbsp;&nbsp;12.483%, 01/01/2025 (B) | &nbsp;&nbsp;&nbsp;&nbsp;2191000 | &nbsp;&nbsp;&nbsp;&nbsp;326700 |
| &nbsp;&nbsp;&nbsp;13.083%, 01/01/2024 (B) | &nbsp;&nbsp;&nbsp;&nbsp;1533000 | &nbsp;&nbsp;&nbsp;&nbsp;256238 |
|  |  | 9393942 |
| **Bulgaria - 0.2%** |  |  |
| Republic of Bulgaria |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 09/23/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;182352 |
| &nbsp;&nbsp;&nbsp;4.125%, 09/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152000 | &nbsp;&nbsp;&nbsp;&nbsp;159507 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;341859 |
| **Canada - 1.9%** |  |  |
| Government of Canada<br> 4.000%, 12/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1110549 | &nbsp;&nbsp;&nbsp;&nbsp;995746 |
| Province of Ontario<br> 2.000%, 12/01/2036 | &nbsp;&nbsp;&nbsp;&nbsp;2783105 | 1986775 |
|  |  | 2982521 |
| **Chile - 0.2%** |  |  |
| Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 01/22/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;57535 |
| &nbsp;&nbsp;&nbsp;4.700%, 09/01/2030 (C) | &nbsp;&nbsp;115000000 | &nbsp;&nbsp;&nbsp;&nbsp;132957 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2035 | &nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;35643 |
| &nbsp;&nbsp;&nbsp;6.000%, 01/01/2043 | &nbsp;&nbsp;&nbsp;&nbsp;70000000 | &nbsp;&nbsp;&nbsp;&nbsp;93911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;320046 |
| **Colombia - 1.4%** |  |  |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2061 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;358187 |
| &nbsp;&nbsp;&nbsp;6.000%, 04/28/2028 | &nbsp;&nbsp;132500000 | &nbsp;&nbsp;&nbsp;&nbsp;20392 |
| &nbsp;&nbsp;&nbsp;6.125%, 01/18/2041 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;512792 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/09/2036 | &nbsp;&nbsp;231800000 | &nbsp;&nbsp;&nbsp;&nbsp;27502 |
| &nbsp;&nbsp;&nbsp;7.250%, 10/18/2034 to 10/26/2050 | 2331300000 | &nbsp;&nbsp;&nbsp;&nbsp;306547 |
| &nbsp;&nbsp;&nbsp;7.500%, 08/26/2026 | 1233200000 | &nbsp;&nbsp;&nbsp;&nbsp;217182 |
| &nbsp;&nbsp;&nbsp;7.750%, 09/18/2030 | 2115000000 | &nbsp;&nbsp;&nbsp;&nbsp;327649 |
| &nbsp;&nbsp;&nbsp;9.250%, 05/28/2042 | 2210400000 | &nbsp;&nbsp;&nbsp;&nbsp;329261 |
| &nbsp;&nbsp;&nbsp;10.000%, 07/24/2024 | &nbsp;&nbsp;625800000 | &nbsp;&nbsp;&nbsp;&nbsp;125700 |
|  |  | 2225212 |
| **Czech Republic - 0.6%** |  |  |
| Czech Republic |  |  |
| &nbsp;&nbsp;&nbsp;0.450%, 10/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;12622 |
| &nbsp;&nbsp;&nbsp;0.950%, 05/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;7560000 | &nbsp;&nbsp;&nbsp;&nbsp;249198 |
| &nbsp;&nbsp;&nbsp;1.200%, 03/13/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1310000 | &nbsp;&nbsp;&nbsp;&nbsp;42907 |
| &nbsp;&nbsp;&nbsp;1.500%, 04/24/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;24802 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/23/2032 | &nbsp;&nbsp;&nbsp;&nbsp;2870000 | &nbsp;&nbsp;&nbsp;&nbsp;94296 |
| &nbsp;&nbsp;&nbsp;2.000%, 10/13/2033 | &nbsp;&nbsp;&nbsp;&nbsp;3340000 | &nbsp;&nbsp;&nbsp;&nbsp;110837 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp;6220000 | &nbsp;&nbsp;&nbsp;&nbsp;238320 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | &nbsp;&nbsp;&nbsp;&nbsp;34502 |
| &nbsp;&nbsp;&nbsp;6.000%, 02/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;2430000 | &nbsp;&nbsp;&nbsp;&nbsp;109969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;917453 |
| **Egypt - 0.2%** |  |  |
| Arab Republic of Egypt<br> 7.903%, 02/21/2048 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;264650 |
| **Ghana - 0.1%** |  |  |
| Republic of Ghana<br> 10.750%, 10/14/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;175000 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Greece - 0.6%** |  |  |
| Republic of Greece, GDP-Linked Note<br> 4.404%, 10/15/2042 (D)\* | &nbsp;&nbsp;409185000 | $&nbsp;&nbsp;&nbsp;&nbsp;963626 |
| **Hungary - 1.0%** |  |  |
| Republic of Hungary |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 11/18/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;80758 |
| &nbsp;&nbsp;&nbsp;1.000%, 11/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp;11030000 | &nbsp;&nbsp;&nbsp;&nbsp;22607 |
| &nbsp;&nbsp;&nbsp;1.625%, 04/28/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;759939 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/05/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;91273 |
| &nbsp;&nbsp;&nbsp;2.250%, 04/20/2033 | &nbsp;&nbsp;&nbsp;&nbsp;31890000 | &nbsp;&nbsp;&nbsp;&nbsp;49476 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/21/2030 to 10/27/2038 | &nbsp;&nbsp;&nbsp;&nbsp;62140000 | &nbsp;&nbsp;&nbsp;&nbsp;95937 |
| &nbsp;&nbsp;&nbsp;3.250%, 10/22/2031 | &nbsp;&nbsp;&nbsp;&nbsp;65610000 | &nbsp;&nbsp;&nbsp;&nbsp;115208 |
| &nbsp;&nbsp;&nbsp;4.250%, 06/16/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;96461 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/23/2028 | &nbsp;&nbsp;&nbsp;&nbsp;65800000 | &nbsp;&nbsp;&nbsp;&nbsp;136512 |
| &nbsp;&nbsp;&nbsp;4.750%, 11/24/2032 | &nbsp;&nbsp;&nbsp;&nbsp;39150000 | &nbsp;&nbsp;&nbsp;&nbsp;75930 |
| &nbsp;&nbsp;&nbsp;7.625%, 03/29/2041 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp;58945 |
|  |  | 1583046 |
| **Iceland - 2.0%** |  |  |
| Republic of Iceland |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 11/15/2028 | &nbsp;&nbsp;433770000 | 2848689 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp;46170000 | &nbsp;&nbsp;&nbsp;&nbsp;328166 |
|  |  | 3176855 |
| **Indonesia - 1.0%** |  |  |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 03/12/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;217702 |
| &nbsp;&nbsp;&nbsp;1.400%, 10/30/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;316743 |
| &nbsp;&nbsp;&nbsp;6.375%, 08/15/2028 to 04/15/2032 | 3604000000 | &nbsp;&nbsp;&nbsp;&nbsp;223574 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2025 | 1112000000 | &nbsp;&nbsp;&nbsp;&nbsp;72017 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/15/2027 | 2809000000 | &nbsp;&nbsp;&nbsp;&nbsp;184657 |
| &nbsp;&nbsp;&nbsp;7.125%, 06/15/2042 | &nbsp;&nbsp;446000000 | &nbsp;&nbsp;&nbsp;&nbsp;28680 |
| &nbsp;&nbsp;&nbsp;7.500%, 08/15/2032 to 04/15/2040 | 8132000000 | &nbsp;&nbsp;&nbsp;&nbsp;538764 |
|  |  | 1582137 |
| **Japan - 4.0%** |  |  |
| Government of Japan, CPI Linked Bond<br> 0.100%, 03/10/2028 | &nbsp;&nbsp;821957072 | 6497870 |
| **Malaysia - 1.1%** |  |  |
| Government of Malaysia |  |  |
| &nbsp;&nbsp;&nbsp;2.632%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1580000 | &nbsp;&nbsp;&nbsp;&nbsp;323311 |
| &nbsp;&nbsp;&nbsp;3.478%, 06/14/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1345000 | &nbsp;&nbsp;&nbsp;&nbsp;304175 |
| &nbsp;&nbsp;&nbsp;3.582%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;129575 |
| &nbsp;&nbsp;&nbsp;3.882%, 03/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp;427519 |
| &nbsp;&nbsp;&nbsp;3.885%, 08/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;1510000 | &nbsp;&nbsp;&nbsp;&nbsp;340191 |
| &nbsp;&nbsp;&nbsp;3.906%, 07/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;110470 |
| &nbsp;&nbsp;&nbsp;4.254%, 05/31/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;54678 |
| &nbsp;&nbsp;&nbsp;4.696%, 10/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;95567 |
|  |  | 1785486 |
| **Mexico - 1.4%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 04/09/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;570356 |
| &nbsp;&nbsp;&nbsp;5.500%, 03/04/2027 | &nbsp;&nbsp;&nbsp;&nbsp;10591500 | &nbsp;&nbsp;&nbsp;&nbsp;474051 |
| &nbsp;&nbsp;&nbsp;5.625%, 03/19/2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;90086 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp;2445200 | &nbsp;&nbsp;&nbsp;&nbsp;113498 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/03/2027 | &nbsp;&nbsp;&nbsp;&nbsp;3375800 | &nbsp;&nbsp;&nbsp;&nbsp;163284 |
| &nbsp;&nbsp;&nbsp;7.750%, 05/29/2031 to 11/13/2042 | &nbsp;&nbsp;&nbsp;&nbsp;6238300 | &nbsp;&nbsp;&nbsp;&nbsp;289220 |
| &nbsp;&nbsp;&nbsp;8.000%, 12/07/2023 to 07/31/2053 | &nbsp;&nbsp;&nbsp;&nbsp;4961200 | &nbsp;&nbsp;&nbsp;&nbsp;231238 |
| &nbsp;&nbsp;&nbsp;8.500%, 05/31/2029 to 11/18/2038 | &nbsp;&nbsp;&nbsp;&nbsp;4851500 | &nbsp;&nbsp;&nbsp;&nbsp;237412 |
| &nbsp;&nbsp;&nbsp;10.000%, 11/20/2036 | &nbsp;&nbsp;&nbsp;&nbsp;1712300 | &nbsp;&nbsp;&nbsp;&nbsp;94033 |
|  |  | 2263178 |
| **New Zealand - 3.7%** |  |  |
| Government of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 05/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;347475 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;2975000 | 1353704 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 56 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **New Zealand (continued)** |  |  |
| Government of New Zealand, Inflation<br> Linked Bond |  |  |
| &nbsp;&nbsp;&nbsp;2.994%, 09/20/2040 | &nbsp;&nbsp;&nbsp;1925000 | $1459604 |
| &nbsp;&nbsp;&nbsp;3.025%, 09/20/2035 | &nbsp;&nbsp;&nbsp;2315000 | 1782228 |
| &nbsp;&nbsp;&nbsp;3.687%, 09/20/2030 | &nbsp;&nbsp;&nbsp;1280000 | 1046584 |
|  |  | 5989595 |
| **North Macedonia - 0.7%** |  |  |
| Republic of North Macedonia |  |  |
| &nbsp;&nbsp;&nbsp;1.625%, 03/10/2028 | &nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;938099 |
| &nbsp;&nbsp;&nbsp;2.750%, 01/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;149371 |
|  |  | 1087470 |
| **Panama - 0.2%** |  |  |
| Republic of Panama<br> 4.500%, 04/01/2056 | $&nbsp;&nbsp;&nbsp;&nbsp;560000 | &nbsp;&nbsp;&nbsp;&nbsp;407985 |
| **Peru - 0.9%** |  |  |
| Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 03/11/2033 | &nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp;256873 |
| &nbsp;&nbsp;&nbsp;5.940%, 02/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;43420 |
| &nbsp;&nbsp;&nbsp;6.150%, 08/12/2032 | &nbsp;&nbsp;&nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;187202 |
| &nbsp;&nbsp;&nbsp;6.350%, 08/12/2028 | &nbsp;&nbsp;&nbsp;2230000 | &nbsp;&nbsp;&nbsp;&nbsp;557847 |
| &nbsp;&nbsp;&nbsp;6.900%, 08/12/2037 | &nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;92954 |
| &nbsp;&nbsp;&nbsp;6.950%, 08/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;76860 |
| &nbsp;&nbsp;&nbsp;8.200%, 08/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;183144 |
|  |  | 1398300 |
| **Philippines - 0.1%** |  |  |
| Republic of the Philippines<br> 1.750%, 04/28/2041 | &nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;157294 |
| **Poland - 0.7%** |  |  |
| Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 04/25/2032 | &nbsp;&nbsp;&nbsp;1815000 | &nbsp;&nbsp;&nbsp;&nbsp;271545 |
| &nbsp;&nbsp;&nbsp;2.750%, 04/25/2028 to 10/25/2029 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;271444 |
| &nbsp;&nbsp;&nbsp;3.250%, 07/25/2025 | &nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp;227096 |
| &nbsp;&nbsp;&nbsp;3.750%, 05/25/2027 | &nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;381661 |
| &nbsp;&nbsp;&nbsp;7.300%, (6 month WIBOR), 01/25/2026 (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;17866 |
|  |  | 1169612 |
| **Romania - 1.0%** |  |  |
| Republic of Romania |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 12/02/2040 (C) | &nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;322009 |
| &nbsp;&nbsp;&nbsp;2.625%, 12/02/2040 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;119263 |
| &nbsp;&nbsp;&nbsp;3.650%, 09/24/2031 | &nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;58584 |
| &nbsp;&nbsp;&nbsp;3.700%, 11/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;18438 |
| &nbsp;&nbsp;&nbsp;3.875%, 10/29/2035 | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;409536 |
| &nbsp;&nbsp;&nbsp;4.625%, 04/03/2049 | &nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;159785 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/11/2034 | &nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;84537 |
| &nbsp;&nbsp;&nbsp;5.800%, 07/26/2027 | &nbsp;&nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;&nbsp;226778 |
| &nbsp;&nbsp;&nbsp;6.700%, 02/25/2032 | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;135730 |
|  |  | 1534660 |
| **Russia - 0.6%** |  |  |
| Government of Russia |  |  |
| &nbsp;&nbsp;&nbsp;6.900%, 05/23/2029 (F) | 164290000 | &nbsp;&nbsp;&nbsp;&nbsp;668298 |
| &nbsp;&nbsp;&nbsp;7.650%, 04/10/2030 (F) | &nbsp;&nbsp;84090000 | &nbsp;&nbsp;&nbsp;&nbsp;342061 |
|  |  | 1010359 |
| **Serbia - 0.2%** |  |  |
| Republic of Serbia<br> 1.650%, 03/03/2033 | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;307832 |
| **Slovenia - 0.1%** |  |  |
| Republic of Slovenia<br> 3.125%, 08/07/2045 | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;120820 |
| **South Africa - 1.3%** |  |  |
| Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 03/31/2036 | &nbsp;&nbsp;&nbsp;3520000 | &nbsp;&nbsp;&nbsp;&nbsp;136289 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **South Africa (continued)** |  |  |  |
| Republic of South Africa (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;7.775%, (3 month JIBAR + 1.300%), 07/11/2027 (E) | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59790 |
| &nbsp;&nbsp;&nbsp;8.000%, 01/31/2030 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5710000 | &nbsp;&nbsp;&nbsp;&nbsp;299740 |
| &nbsp;&nbsp;&nbsp;8.250%, 03/31/2032 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4925000 | &nbsp;&nbsp;&nbsp;&nbsp;247041 |
| &nbsp;&nbsp;&nbsp;8.500%, 01/31/2037 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7080000 | &nbsp;&nbsp;&nbsp;&nbsp;330825 |
| &nbsp;&nbsp;&nbsp;8.750%, 01/31/2044 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220000 | &nbsp;&nbsp;&nbsp;&nbsp;147789 |
| &nbsp;&nbsp;&nbsp;8.875%, 02/28/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;570055 |
| &nbsp;&nbsp;&nbsp;9.000%, 01/31/2040 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160000 | &nbsp;&nbsp;&nbsp;&nbsp;198262 |
| &nbsp;&nbsp;&nbsp;10.500%, 12/21/2026 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665000 | &nbsp;&nbsp;&nbsp;&nbsp;103131 |
|  |  |  | &nbsp;&nbsp;&nbsp;2092922 |
| **South Korea - 8.8%** |  |  |  |
| Republic of Korea |  |  |  |
| &nbsp;&nbsp;&nbsp;1.375%, 12/10/2029 | KRW | 10736980000 | &nbsp;&nbsp;&nbsp;7237064 |
| &nbsp;&nbsp;&nbsp;2.375%, 12/10/2031 |  | &nbsp;&nbsp;4545430000 | &nbsp;&nbsp;&nbsp;3207404 |
| Republic of Korea, Inflation<br> Linked Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 06/10/2030 |  | &nbsp;&nbsp;3038485519 | &nbsp;&nbsp;&nbsp;2371127 |
| &nbsp;&nbsp;&nbsp;1.750%, 06/10/2028 |  | &nbsp;&nbsp;1578882338 | &nbsp;&nbsp;&nbsp;1279372 |
|  |  |  | 14094967 |
| **Sri Lanka - 0.0%** |  |  |  |
| Democratic Socialist Republic of Sri Lanka<br> 6.750%, 04/18/2028 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62050 |
| **Thailand - 0.6%** |  |  |  |
| Kingdom of Thailand |  |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 06/17/2027 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7960000 | &nbsp;&nbsp;&nbsp;&nbsp;220637 |
| &nbsp;&nbsp;&nbsp;1.585%, 12/17/2035 |  | &nbsp;&nbsp;&nbsp;&nbsp;10440000 | &nbsp;&nbsp;&nbsp;&nbsp;255659 |
| &nbsp;&nbsp;&nbsp;2.000%, 12/17/2031 to 06/17/2042 |  | &nbsp;&nbsp;&nbsp;&nbsp;13405000 | &nbsp;&nbsp;&nbsp;&nbsp;357402 |
| &nbsp;&nbsp;&nbsp;2.875%, 06/17/2046 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19777 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/17/2043 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3690000 | &nbsp;&nbsp;&nbsp;&nbsp;107496 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;960971 |
| **Ukraine - 0.1%** |  |  |  |
| Republic of Ukraine<br> 7.253%, 03/15/2035 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93593 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $83,939,455) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $83,939,455) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $83,939,455) | $68089886 |
| **CORPORATE BONDS - 22.8%** | **CORPORATE BONDS - 22.8%** | **CORPORATE BONDS - 22.8%** |  |
| **Australia - 0.2%** |  |  |  |
| FMG Resources Proprietary, Ltd.<br> 5.875%, 04/15/2030 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;125756 |
| Macquarie Group, Ltd.<br> 5.491%, (5.491% to 11-9-32, then SOFR + 2.865%), 11/09/2033 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;221404 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;347160 |
| **Austria - 0.1%** |  |  |  |
| Klabin Austria GmbH<br> 7.000%, 04/03/2049 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;196201 |
| **Bermuda - 0.1%** |  |  |  |
| Athene Holding, Ltd.<br> 6.650%, 02/01/2033 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;123610 |
| Carnival Holdings Bermuda, Ltd.<br> 10.375%, 05/01/2028 (C) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20532 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;144142 |
| **Canada - 0.7%** |  |  |  |
| Canadian Pacific Railway Company |  |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 12/02/2041 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15078 |
| &nbsp;&nbsp;&nbsp;3.100%, 12/02/2051 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13446 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 57 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Canada (continued)** |  |  |
| Emera, Inc.<br> 6.750%, (6.750% to 6-15-26, then 3 month LIBOR + 5.440% to 6-15-46, then 3 month LIBOR + 6.190%), 06/15/2076 | $244000 | $&nbsp;&nbsp;&nbsp;&nbsp;234294 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month LIBOR + 3.641%), 03/01/2078 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;127369 |
| &nbsp;&nbsp;&nbsp;7.625%, (7.625% to 1-15-33, then 5 Year CMT + 4.418% to 1-15-53, then 5 Year CMT + 5.168%), 01/15/2083 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;31562 |
| Enerflex, Ltd.<br> 9.000%, 10/15/2027 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;84766 |
| goeasy, Ltd.<br> 4.375%, 05/01/2026 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;35400 |
| The Bank of Nova Scotia<br> 4.588%, (4.588% to 2-4-32, then 5 Year CMT + 2.050%), 05/04/2037 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;315741 |
| TransCanada Trust |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, (5.500% to 9-15-29, then SOFR + 4.416% to 9-15-49, then SOFR + 5.166%), 09/15/2079 | 164000 | &nbsp;&nbsp;&nbsp;&nbsp;141568 |
| &nbsp;&nbsp;&nbsp;5.600%, (5.600% to 12-7-31, then 5 Year CMT + 3.986%), 03/07/2082 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;94050 |
|  |  | 1093274 |
| **Cayman Islands - 0.1%** |  |  |
| Seagate HDD Cayman<br> 5.750%, 12/01/2034 | 215000 | &nbsp;&nbsp;&nbsp;&nbsp;182294 |
| **Chile - 0.1%** |  |  |
| VTR Comunicaciones SpA<br> 4.375%, 04/15/2029 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;116500 |
| **China - 0.3%** |  |  |
| CIFI Holdings Group Company, Ltd.<br> 4.375%, 04/12/2027 | 260000 | &nbsp;&nbsp;&nbsp;&nbsp;67093 |
| Country Garden Holdings Company, Ltd.<br> 3.875%, 10/22/2030 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;152659 |
| KWG Group Holdings, Ltd.<br> 6.000%, 08/14/2026 | 630000 | &nbsp;&nbsp;&nbsp;&nbsp;243032 |
| Times China Holdings, Ltd.<br> 5.750%, 01/14/2027 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;32274 |
| Yuzhou Group Holdings Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;6.350%, 01/13/2027 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;17558 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/13/2026 (F) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;17982 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;530598 |
| **Finland - 0.0%** |  |  |
| Nokia OYJ<br> 6.625%, 05/15/2039 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;25627 |
| **France - 1.0%** |  |  |
| BNP Paribas SA<br> 2.159%, (2.159% to 9-15-28, then SOFR + 1.218%), 09/15/2029 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;163044 |
| Credit Agricole Assurances SA<br> 2.000%, 07/17/2030 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;85044 |
| Societe Generale SA<br> 6.221%, (6.221% to 6-15-32, then 1 Year CMT + 3.200%), 06/15/2033 (C) | $665000 | &nbsp;&nbsp;&nbsp;&nbsp;621964 |
| TotalEnergies SE<br> 2.125%, (2.125% to 1-25-33, then 5 Year Euro Swap Rate + 2.513% to 1-25-53, then 5 Year Euro Swap Rate + 3.263%), 07/25/2032 (G) | 470000 | &nbsp;&nbsp;&nbsp;&nbsp;357826 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **France (continued)** |  |  |
| Valeo<br> 1.000%, 08/03/2028 | 500000 | $&nbsp;&nbsp;&nbsp;&nbsp;411806 |
|  |  | 1639684 |
| **Germany - 0.5%** |  |  |
| Allianz SE<br> 2.600%, (2.600% to 10-30-31, then 5 Year Euro Swap Rate + 2.579%), 10/30/2031 (G) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;150432 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;2.311%, (2.311% to 11-16-26, then SOFR + 1.219%), 11/16/2027 | $150000 | &nbsp;&nbsp;&nbsp;&nbsp;127182 |
| &nbsp;&nbsp;&nbsp;3.742%, (3.742% to 10-7-31, then SOFR + 2.257%), 01/07/2033 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;142035 |
| &nbsp;&nbsp;&nbsp;5.625%, (5.625% to 2-19-26, then 5 Year Euro Swap Rate + 6.000%), 05/19/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;104315 |
| Hannover Rueck SE<br> 1.750%, (1.750% to 7-8-30, then 3 month EURIBOR + 3.000%), 10/08/2040 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;82947 |
| Muenchener Rueckversicherungs-Gesellschaft AG<br> 1.250%, (1.250% to 11-26-30, then 3 month EURIBOR + 2.550%), 05/26/2041 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;159647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;766558 |
| **Hong Kong - 0.1%** |  |  |
| AIA Group, Ltd.<br> 3.200%, 09/16/2040 | $200000 | &nbsp;&nbsp;&nbsp;&nbsp;142747 |
| **Italy - 0.3%** |  |  |
| Assicurazioni Generali SpA<br> 2.429%, 07/14/2031 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;526798 |
| **Japan - 0.1%** |  |  |
| Rakuten Group, Inc.<br> 4.250%, (4.250% to 4-22-27, then 5 Year Euro Swap Rate + 4.740%), 04/22/2027 (G) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;121379 |
| **Luxembourg - 0.2%** |  |  |
| ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;6.550%, 11/29/2027 | $&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;23108 |
| &nbsp;&nbsp;&nbsp;6.800%, 11/29/2032 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;134237 |
| Swiss Re Finance Luxembourg SA<br> 2.534%, (2.534% to 4-30-30, then 1 Year EURIBOR ICE Swap Rate + 2.850%), 04/30/2050 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;87260 |
| Trinseo Materials Operating SCA<br> 5.125%, 04/01/2029 (C) | $105000 | &nbsp;&nbsp;&nbsp;&nbsp;68011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;312616 |
| **Macau - 0.2%** |  |  |
| Wynn Macau, Ltd.<br> 5.625%, 08/26/2028 (C) | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;281850 |
| **Malta - 0.1%** |  |  |
| VistaJet Malta Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 02/01/2030 (C) | 122000 | &nbsp;&nbsp;&nbsp;&nbsp;97823 |
| &nbsp;&nbsp;&nbsp;7.875%, 05/01/2027 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;49618 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;147441 |
| **Mexico - 0.2%** |  |  |
| America Movil SAB de CV<br> 4.700%, 07/21/2032 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;191933 |
| Petroleos Mexicanos<br> 6.375%, 01/23/2045 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;96042 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 58 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Mexico (continued)** |  |  |
| Unifin Financiera SAB de CV<br> 8.375%, 01/27/2028 (F) | $205000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;293100 |
| **Netherlands - 0.7%** |  |  |
| ABN AMRO Bank NV<br> 3.324%, (3.324% to 12-13-31, then 5 Year CMT + 1.900%), 03/13/2037 (C) | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;289173 |
| Achmea BV<br> 2.500%, (2.500% to 6-24-29, then 5 Year Euro Swap Rate + 3.650%), 09/24/2039 | 135000 | &nbsp;&nbsp;&nbsp;&nbsp;111215 |
| JAB Holdings BV<br> 4.500%, 04/08/2052 (C) | $250000 | &nbsp;&nbsp;&nbsp;&nbsp;169580 |
| Prosus NV<br> 2.031%, 08/03/2032 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;125235 |
| Teva Pharmaceutical Finance Netherlands II BV<br> 4.375%, 05/09/2030 | 460000 | &nbsp;&nbsp;&nbsp;&nbsp;407417 |
| Upjohn Finance BV<br> 1.908%, 06/23/2032 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;119011 |
|  |  | 1221631 |
| **Norway - 0.6%** |  |  |
| Equinor ASA<br> 3.000%, 04/06/2027 | $&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;43845 |
| Var Energi ASA |  |  |
| &nbsp;&nbsp;&nbsp;7.500%, 01/15/2028 (C) | 460000 | &nbsp;&nbsp;&nbsp;&nbsp;468557 |
| &nbsp;&nbsp;&nbsp;8.000%, 11/15/2032 (C) | 425000 | &nbsp;&nbsp;&nbsp;&nbsp;438905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;951307 |
| **Singapore - 0.1%** |  |  |
| Medco Bell Pte, Ltd.<br> 6.375%, 01/30/2027 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;180338 |
| **Spain - 0.2%** |  |  |
| Banco de Credito Social Cooperativo SA<br> 1.750%, (1.750% to 3-9-27, then 1 Year Euro Swap Rate + 2.150%), 03/09/2028 | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;163911 |
| Telefonica Emisiones SA<br> 5.520%, 03/01/2049 | $150000 | &nbsp;&nbsp;&nbsp;&nbsp;125386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;289297 |
| **Switzerland - 0.6%** |  |  |
| Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;4.282%, 01/09/2028 (C) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;207213 |
| &nbsp;&nbsp;&nbsp;6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (C) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;438697 |
| &nbsp;&nbsp;&nbsp;9.016%, (9.016% to 11-15-32, then SOFR + 5.020%), 11/15/2033 (C) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;255967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;901877 |
| **United Arab Emirates - 0.2%** |  |  |
| MDGH GMTN RSC, Ltd.<br> 1.000%, 03/10/2034 | 345000 | &nbsp;&nbsp;&nbsp;&nbsp;276514 |
| **United Kingdom - 1.4%** |  |  |
| Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 09/10/2030 (C) | $330000 | &nbsp;&nbsp;&nbsp;&nbsp;268186 |
| &nbsp;&nbsp;&nbsp;5.625%, 04/01/2030 (C) | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;397094 |
| Aon Global, Ltd.<br> 3.875%, 12/15/2025 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;38997 |
| Barclays PLC<br> 7.437%, (7.437% to 11-2-32, then 1 Year CMT + 3.500%), 11/02/2033 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;387686 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United Kingdom (continued)** |  |  |
| BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, (4.375% to 9-22-25, then 5 Year CMT + 4.036% to 9-22-30, then 5 Year CMT + 4.286% to 9-22-45, then 5 Year CMT + 5.036%), 06/22/2025 (G) | $&nbsp;&nbsp;25000 | $&nbsp;&nbsp;&nbsp;&nbsp;23875 |
| &nbsp;&nbsp;&nbsp;4.875%, (4.875% to 6-22-30, then 5 Year CMT + 4.398% to 6-22-50, then 5 Year CMT + 5.148%), 03/22/2030 (G) | 158000 | &nbsp;&nbsp;&nbsp;&nbsp;138250 |
| Diageo Capital PLC<br> 3.875%, 04/29/2043 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;20510 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;5.402%, (5.402% to 8-11-32, then SOFR + 2.870%), 08/11/2033 | 475000 | &nbsp;&nbsp;&nbsp;&nbsp;439861 |
| &nbsp;&nbsp;&nbsp;8.113%, (8.113% to 11-3-32, then SOFR + 4.250%), 11/03/2033 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;391489 |
| Standard Chartered PLC<br> 2.678%, (2.678% to 6-29-31, then 1 Year CMT + 1.200%), 06/29/2032 (C) | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;150747 |
|  |  | 2256695 |
| **United States - 14.7%** |  |  |
| AbbVie, Inc.<br> 4.250%, 11/21/2049 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;33195 |
| Adams Homes, Inc.<br> 7.500%, 02/15/2025 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8499 |
| Advanced Drainage Systems, Inc.<br> 6.375%, 06/15/2030 (C) | 120000 | &nbsp;&nbsp;&nbsp;&nbsp;116599 |
| Aircastle, Ltd.<br> 5.250%, (5.250% to 9-15-26, then 5 Year CMT + 4.410% to 9-15-31, then 5 Year CMT + 4.660% to 9-15-46, then 5 Year CMT + 5.160%), 06/15/2026 (C)(G) | &nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp;33110 |
| Alliant Holdings Intermediate LLC<br> 6.750%, 10/15/2027 (C) | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;&nbsp;54830 |
| Altria Group, Inc.<br> 3.125%, 06/15/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;88727 |
| American Express Company<br> 3.550%, (3.550% to 9-15-26, then 5 Year CMT + 2.854%), 09/15/2026 (G) | $&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;32039 |
| American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 07/16/2044 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;30374 |
| &nbsp;&nbsp;&nbsp;4.750%, 04/01/2048 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;84714 |
| AmeriGas Partners LP<br> 5.750%, 05/20/2027 | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;71561 |
| AmWINS Group, Inc.<br> 4.875%, 06/30/2029 (C) | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;38167 |
| Anheuser-Busch Companies LLC<br> 4.900%, 02/01/2046 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;15454 |
| Anheuser-Busch InBev Worldwide, Inc.<br> 4.600%, 04/15/2048 | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;12165 |
| Antero Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;5.375%, 06/15/2029 (C) | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;56683 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/01/2027 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;28361 |
| Antero Resources Corp.<br> 5.375%, 03/01/2030 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;55627 |
| Apache Corp.<br> 4.375%, 10/15/2028 | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;52204 |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 02/08/2028 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;39821 |
| &nbsp;&nbsp;&nbsp;2.650%, 05/11/2050 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;14555 |
| APX Group, Inc.<br> 5.750%, 07/15/2029 (C) | 119000 | &nbsp;&nbsp;&nbsp;&nbsp;98554 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 59 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Aramark Services, Inc.<br> 6.375%, 05/01/2025 (C) | $196000 | $193591 |
| Ardagh Metal Packaging Finance USA LLC<br> 6.000%, 06/15/2027 (C) | 200000 | 195789 |
| AssuredPartners, Inc.<br> 5.625%, 01/15/2029 (C) | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;53497 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/01/2027 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;28460 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 to 09/15/2053 | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;50153 |
| AutoZone, Inc.<br> 4.750%, 08/01/2032 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;62997 |
| Aviation Capital Group LLC<br> 1.950%, 01/30/2026 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;82705 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.087%, (2.087% to 6-14-28, then SOFR + 1.060%), 06/14/2029 | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;37026 |
| &nbsp;&nbsp;&nbsp;2.676%, (2.676% to 6-19-40, then SOFR + 1.930%), 06/19/2041 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;40362 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 670000 | 536257 |
| &nbsp;&nbsp;&nbsp;3.093%, (3.093% to 10-1-24, then 3 month LIBOR + 1.090%), 10/01/2025 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;25867 |
| &nbsp;&nbsp;&nbsp;4.443%, (4.443% to 1-20-47, then 3 month LIBOR + 1.990%), 01/20/2048 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;22770 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.222%, 08/15/2024 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;45256 |
| &nbsp;&nbsp;&nbsp;7.750%, 10/19/2032 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;16134 |
| Bausch Health Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.875%, 06/01/2028 (C) | &nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;12085 |
| &nbsp;&nbsp;&nbsp;5.250%, 01/30/2030 (C) | 185000 | &nbsp;&nbsp;&nbsp;88737 |
| Baxter International, Inc.<br> 2.272%, 12/01/2028 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;38375 |
| BCPE Ulysses Intermediate, Inc.<br> 7.750%, (7.750% Cash or 8.500% PIK), 04/01/2027 (C) | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;36457 |
| Belo Corp.<br> 7.250%, 09/15/2027 | &nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;12337 |
| Berkshire Hathaway Energy Company<br> 2.850%, 05/15/2051 | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;17022 |
| Biogen, Inc.<br> 2.250%, 05/01/2030 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;28514 |
| Black Knight InfoServ LLC<br> 3.625%, 09/01/2028 (C) | 675000 | 585563 |
| Blackstone Holdings Finance Company LLC<br> 6.200%, 04/22/2033 (C) | 250000 | 252002 |
| Blue Racer Midstream LLC<br> 7.625%, 12/15/2025 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9926 |
| Bon Secours Mercy Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.095%, 06/01/2031 | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;17941 |
| &nbsp;&nbsp;&nbsp;3.205%, 06/01/2050 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;13327 |
| BP Capital Markets America, Inc.<br> 2.721%, 01/12/2032 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;33338 |
| Broadcom Corp.<br> 3.875%, 01/15/2027 | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;69996 |
| Broadcom, Inc.<br> 4.300%, 11/15/2032 | 189000 | 166573 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2032 (C) | 160000 | 129716 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/01/2030 (C) | 520000 | 460761 |
| Caesars Entertainment, Inc.<br> 8.125%, 07/01/2027 (C) | 244000 | 239742 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Capital One Financial Corp.<br> 3.950%, (3.950% to 9-1-26, then 5 Year CMT + 3.157%), 09/01/2026 (G) | $120000 | $&nbsp;&nbsp;&nbsp;94246 |
| Carnival Corp.<br> 7.625%, 03/01/2026 (C) | &nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;64200 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 (C) | 185000 | 148391 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/01/2029 (C) | 106000 | &nbsp;&nbsp;&nbsp;95853 |
| Celanese US Holdings LLC<br> 6.330%, 07/15/2029 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;38866 |
| CenterPoint Energy Houston Electric LLC<br> 2.350%, 04/01/2031 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;38973 |
| CenterPoint Energy, Inc.<br> 6.125%, (6.125% to 9-1-23, then 3 month LIBOR + 3.270%), 09/01/2023 (G) | &nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;31020 |
| Century Communities, Inc.<br> 3.875%, 08/15/2029 (C) | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;74694 |
| Charter Communications Operating LLC<br> 3.700%, 04/01/2051 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;24323 |
| Cheniere Energy Partners LP<br> 3.250%, 01/31/2032 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;39735 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.106%, (3.106% to 4-8-25, then SOFR + 2.842%), 04/08/2026 | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;65314 |
| &nbsp;&nbsp;&nbsp;4.412%, (4.412% to 3-31-30, then SOFR + 3.914%), 03/31/2031 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;20203 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/06/2044 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;10806 |
| &nbsp;&nbsp;&nbsp;5.950%, (5.950% to 5-15-25, then 3 month LIBOR + 3.905%), 05/15/2025 (G) | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;15312 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 04/15/2029 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;9508 |
| &nbsp;&nbsp;&nbsp;8.750%, 04/15/2030 (C) | 155000 | 132676 |
| CMS Energy Corp.<br> 4.750%, (4.750% to 3-1-30, then 5 Year CMT + 4.116%), 06/01/2050 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;38923 |
| Coherent Corp.<br> 5.000%, 12/15/2029 (C) | &nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;37947 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 01/15/2051 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;7573 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/01/2040 | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;34638 |
| CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;2.782%, 10/01/2030 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;37117 |
| &nbsp;&nbsp;&nbsp;3.817%, 10/01/2049 | 115000 | &nbsp;&nbsp;&nbsp;85595 |
| Community Health Network, Inc.<br> 3.099%, 05/01/2050 | 220000 | 138172 |
| Compass Group Diversified Holdings LLC<br> 5.250%, 04/15/2029 (C) | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;64184 |
| Condor Merger Sub, Inc.<br> 7.375%, 02/15/2030 (C) | &nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;30553 |
| Consolidated Edison Company of New York, Inc.<br> 3.200%, 12/01/2051 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;44966 |
| Constellation Brands, Inc.<br> 3.150%, 08/01/2029 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;35054 |
| Corebridge Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, 04/05/2029 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;27324 |
| &nbsp;&nbsp;&nbsp;6.875%, (6.875% to 9-15-27, then 5 Year CMT + 3.846%), 12/15/2052 (C) | &nbsp;&nbsp;74000 | &nbsp;&nbsp;&nbsp;68379 |
| Covanta Holding Corp.<br> 4.875%, 12/01/2029 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;32771 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 60 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Crocs, Inc.<br> 4.125%, 08/15/2031 (C) | $149000 | $121428 |
| CSC Holdings LLC<br> 4.125%, 12/01/2030 (C) | 245000 | 172928 |
| CubeSmart LP<br> 2.500%, 02/15/2032 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;34402 |
| Dave & Buster's, Inc.<br> 7.625%, 11/01/2025 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;40200 |
| Discovery Communications LLC<br> 5.000%, 09/20/2037 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;17735 |
| Dominion Energy South Carolina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2033 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;12081 |
| &nbsp;&nbsp;&nbsp;6.625%, 02/01/2032 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;13166 |
| Dominion Energy, Inc.<br> 4.650%, (4.650% to 12-15-24, then 5 Year CMT + 2.993%), 12/15/2024 (G) | 162000 | 141750 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 06/15/2041 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;19643 |
| &nbsp;&nbsp;&nbsp;4.875%, (4.875% to 9-16-24, then 5 Year CMT + 3.388%), 09/16/2024 (G) | 157000 | 143263 |
| Earthstone Energy Holdings LLC<br> 8.000%, 04/15/2027 (C) | &nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;68879 |
| Edison International<br> 5.375%, (5.375% to 3-15-26, then 5 Year CMT + 4.698%), 03/15/2026 (G) | &nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;45830 |
| Elanco Animal Health, Inc.<br> 6.400%, 08/28/2028 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33303 |
| Elevance Health, Inc.<br> 2.250%, 05/15/2030 | &nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;23990 |
| Embarq Corp.<br> 7.995%, 06/01/2036 | 246000 | 114390 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 04/15/2027 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;14156 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2026 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;21428 |
| &nbsp;&nbsp;&nbsp;5.000%, 05/15/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;7989 |
| EnLink Midstream LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 01/15/2028 (C) | 114000 | 108585 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2030 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;24743 |
| EnLink Midstream Partners LP<br> 5.450%, 06/01/2047 | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;57031 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.250%, (5.250% to 8-16-27, then 3 month LIBOR + 3.033%), 08/16/2077 | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;31369 |
| &nbsp;&nbsp;&nbsp;5.375%, (5.375% to 2-15-28, then 3 month LIBOR + 2.570%), 02/15/2078 | 165000 | 125822 |
| &nbsp;&nbsp;&nbsp;7.630%, (3 month LIBOR + 2.986%), 08/16/2077 (E) | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;47064 |
| EPR Properties<br> 4.500%, 04/01/2025 | &nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;42687 |
| EQM Midstream Partners LP<br> 4.750%, 01/15/2031 (C) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;73575 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, 10/01/2027 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;60006 |
| &nbsp;&nbsp;&nbsp;5.700%, 04/01/2028 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;4973 |
| Evergy Metro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 08/15/2025 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;45652 |
| &nbsp;&nbsp;&nbsp;4.200%, 03/15/2048 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;8107 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 09/01/2028 (C) | 616000 | 540824 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/01/2030 (C) | 175000 | 155761 |
| Flex, Ltd.<br> 4.875%, 05/12/2030 | 100000 | &nbsp;&nbsp;&nbsp;93888 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Ford Motor Company<br> 3.250%, 02/12/2032 | $&nbsp;&nbsp;30000 | $&nbsp;&nbsp;&nbsp;22498 |
| Freedom Mortgage Corp.<br> 7.625%, 05/01/2026 (C) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;58389 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 10/15/2027 (C) | &nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;61286 |
| &nbsp;&nbsp;&nbsp;6.750%, 05/01/2029 (C) | 148000 | 122434 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.750%, 09/30/2027 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19600 |
| &nbsp;&nbsp;&nbsp;7.125%, 09/30/2030 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;58950 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 04/10/2028 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;39530 |
| &nbsp;&nbsp;&nbsp;4.350%, 01/17/2027 | &nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;32306 |
| &nbsp;&nbsp;&nbsp;5.700%, (5.700% to 9-30-30, then 5 Year CMT + 4.997%), 09/30/2030 (G) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;30470 |
| Glatfelter Corp.<br> 4.750%, 11/15/2029 (C) | 245000 | 147319 |
| Global Payments, Inc.<br> 4.150%, 08/15/2049 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;7115 |
| Gray Escrow II, Inc.<br> 5.375%, 11/15/2031 (C) | 105000 | &nbsp;&nbsp;&nbsp;75668 |
| Great Lakes Dredge & Dock Corp.<br> 5.250%, 06/01/2029 (C) | 400000 | 310960 |
| GTCR AP Finance, Inc.<br> 8.000%, 05/15/2027 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;47894 |
| Hawaiian Brand Intellectual Property, Ltd.<br> 5.750%, 01/20/2026 (C) | 119171 | 107850 |
| Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.800%, 04/01/2047 | 115000 | 109786 |
| &nbsp;&nbsp;&nbsp;7.125%, 03/15/2033 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;37697 |
| Hightower Holding LLC<br> 6.750%, 04/15/2029 (C) | 120000 | 100213 |
| Home Point Capital, Inc.<br> 5.000%, 02/01/2026 (C) | 360000 | 248936 |
| HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 12/01/2029 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;74238 |
| &nbsp;&nbsp;&nbsp;7.000%, 05/01/2026 (C) | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;82235 |
| Humana, Inc.<br> 5.750%, 03/01/2028 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15316 |
| Illumina, Inc.<br> 5.750%, 12/13/2027 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;60747 |
| Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.050%, 08/12/2051 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;9712 |
| &nbsp;&nbsp;&nbsp;4.900%, 08/05/2052 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;13270 |
| Intercontinental Exchange, Inc.<br> 4.950%, 06/15/2052 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;37128 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.109%, (3.109% to 4-22-50, then SOFR + 2.440%), 04/22/2051 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;9828 |
| &nbsp;&nbsp;&nbsp;3.882%, (3.882% to 7-24-37, then 3 month LIBOR + 1.360%), 07/24/2038 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;22410 |
| &nbsp;&nbsp;&nbsp;4.912%, (4.912% to 7-25-32, then SOFR + 2.080%), 07/25/2033 | 810000 | 771223 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/15/2040 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;26605 |
| &nbsp;&nbsp;&nbsp;6.125%, (6.125% to 4-30-24, then 3 month LIBOR + 3.330%), 04/30/2024 (G) | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;31096 |
| KB Home |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 06/15/2031 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;12058 |
| &nbsp;&nbsp;&nbsp;4.800%, 11/15/2029 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;4348 |
| &nbsp;&nbsp;&nbsp;6.875%, 06/15/2027 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;10060 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 61 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Kraft Heinz Foods Company<br> 4.875%, 10/01/2049 | $&nbsp;&nbsp;25000 | $&nbsp;&nbsp;&nbsp;21701 |
| Kyndryl Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, 10/15/2031 | 105000 | &nbsp;&nbsp;&nbsp;69980 |
| &nbsp;&nbsp;&nbsp;4.100%, 10/15/2041 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;35929 |
| Ladder Capital Finance Holdings LLLP |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2027 (C) | &nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;64682 |
| &nbsp;&nbsp;&nbsp;4.750%, 06/15/2029 (C) | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;24221 |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2025 (C) | 130000 | 122140 |
| LBM Acquisition LLC<br> 6.250%, 01/15/2029 (C) | 284000 | 180724 |
| LD Holdings Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2028 (C) | 146000 | &nbsp;&nbsp;&nbsp;88359 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/01/2025 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;40432 |
| Lear Corp.<br> 3.800%, 09/15/2027 | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;6497 |
| Lennar Corp.<br> 4.750%, 11/29/2027 | 154000 | 148458 |
| LFS Topco LLC<br> 5.875%, 10/15/2026 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;40288 |
| Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.950%, 05/15/2060 (C) | 130000 | &nbsp;&nbsp;&nbsp;85141 |
| &nbsp;&nbsp;&nbsp;4.125%, (4.125% to 9-15-26, then 5 Year CMT + 3.315%), 12/15/2051 (C) | &nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;31769 |
| &nbsp;&nbsp;&nbsp;4.300%, 02/01/2061 (C) | 289000 | 176290 |
| Lithia Motors, Inc.<br> 4.375%, 01/15/2031 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;48816 |
| M/I Homes, Inc.<br> 3.950%, 02/15/2030 | &nbsp;&nbsp;61000 | &nbsp;&nbsp;&nbsp;49254 |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/01/2029 (C) | 155000 | 124924 |
| &nbsp;&nbsp;&nbsp;5.250%, 10/01/2029 (C) | 207000 | 164414 |
| Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.450%, 08/15/2052 | 130000 | 103305 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2062 | 125000 | 100291 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.850%, (3.850% to 9-15-25, then 5 Year CMT + 3.576%), 09/15/2025 (G) | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;32506 |
| &nbsp;&nbsp;&nbsp;5.000%, 07/15/2052 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;38078 |
| &nbsp;&nbsp;&nbsp;6.400%, (6.400% to 12-15-36, then 3 month LIBOR + 2.205%), 12/15/2036 | 133000 | 128624 |
| Microsoft Corp.<br> 3.450%, 08/08/2036 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;23886 |
| MidAmerican Energy Company<br> 3.150%, 04/15/2050 | &nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;6370 |
| Midcap Financial Issuer Trust<br> 6.500%, 05/01/2028 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;51600 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;0.790%, (0.790% to 5-30-24, then SOFR + 0.525%), 05/30/2025 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;20453 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then SOFR + 1.360%), 09/16/2036 | 165000 | 119647 |
| &nbsp;&nbsp;&nbsp;3.622%, (3.622% to 4-1-30, then SOFR + 3.120%), 04/01/2031 | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;36666 |
| &nbsp;&nbsp;&nbsp;3.950%, 04/23/2027 | &nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;11333 |
| MPLX LP<br> 4.950%, 09/01/2032 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;46884 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2030 (C) | 115000 | &nbsp;&nbsp;&nbsp;95594 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 (C) | 160000 | 133028 |
| Nabors Industries, Inc.<br> 7.375%, 05/15/2027 (C) | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;53278 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| National Rural Utilities Cooperative Finance Corp.<br> 4.750%, (4.750% to 4-30-23, then 3 month LIBOR + 2.910%), 04/30/2043 | $&nbsp;&nbsp;34000 | $&nbsp;&nbsp;&nbsp;31532 |
| Nationstar Mortgage Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 12/15/2030 (C) | 290000 | 223978 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/15/2031 (C) | 526000 | 408965 |
| NCL Corp., Ltd.<br> 7.750%, 02/15/2029 (C) | &nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;58698 |
| New York Life Global Funding<br> 3.600%, 08/05/2025 (C) | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;38554 |
| Nordstrom, Inc.<br> 2.300%, 04/08/2024 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;32732 |
| Northern States Power Company<br> 2.600%, 06/01/2051 | &nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;4437 |
| Northwestern Mutual Global Funding<br> 4.350%, 09/15/2027 (C) | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;24340 |
| Novelis Corp.<br> 4.750%, 01/30/2030 (C) | 110000 | &nbsp;&nbsp;&nbsp;97522 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 07/15/2044 | &nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;49224 |
| &nbsp;&nbsp;&nbsp;6.450%, 09/15/2036 | &nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;99960 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2031 | &nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;14959 |
| Oglethorpe Power Corp.<br> 5.050%, 10/01/2048 | 160000 | 136801 |
| Oncor Electric Delivery Company LLC<br> 2.750%, 05/15/2030 | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;45285 |
| OneMain Finance Corp.<br> 6.625%, 01/15/2028 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;46042 |
| Open Text Holdings, Inc.<br> 4.125%, 02/15/2030 to 12/01/2031 (C) | 235000 | 185524 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 04/01/2050 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;40396 |
| &nbsp;&nbsp;&nbsp;6.500%, 04/15/2038 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;51829 |
| O'Reilly Automotive, Inc.<br> 4.700%, 06/15/2032 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;33830 |
| OT Merger Corp.<br> 7.875%, 10/15/2029 (C) | 130000 | &nbsp;&nbsp;&nbsp;68900 |
| Pacific Gas & Electric Company<br> 4.950%, 07/01/2050 | &nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;41067 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2043 | 135000 | &nbsp;&nbsp;&nbsp;92962 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/19/2050 | 115000 | &nbsp;&nbsp;&nbsp;83653 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/01/2044 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;16903 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 2-28-27, then 3 month LIBOR + 3.899%), 02/28/2057 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;76569 |
| PennyMac Financial Services, Inc.<br> 4.250%, 02/15/2029 (C) | 430000 | 335361 |
| Penske Truck Leasing Company LP<br> 4.250%, 01/17/2023 (C) | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;36988 |
| Performance Food Group, Inc.<br> 4.250%, 08/01/2029 (C) | 115000 | &nbsp;&nbsp;&nbsp;99661 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.450%, 08/01/2039 | 390000 | 239523 |
| &nbsp;&nbsp;&nbsp;5.750%, 11/17/2032 | $&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5097 |
| &nbsp;&nbsp;&nbsp;6.375%, 05/16/2038 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;26612 |
| Plains All American Pipeline LP<br> 3.800%, 09/15/2030 | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;51276 |
| Post Holdings, Inc.<br> 4.625%, 04/15/2030 (C) | 190000 | 163921 |
| Presidio Holdings, Inc.<br> 8.250%, 02/01/2028 (C) | 270000 | 250312 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 62 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Prudential Financial, Inc.<br> 5.125%, (5.125% to 11-28-31, then 5 Year CMT + 3.162%), 03/01/2052 | $&nbsp;&nbsp;18000 | $&nbsp;&nbsp;&nbsp;16380 |
| Qualcomm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 05/20/2052 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17515 |
| &nbsp;&nbsp;&nbsp;6.000%, 05/20/2053 | 295000 | 313311 |
| Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2030 (C) | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;13217 |
| &nbsp;&nbsp;&nbsp;8.250%, 01/15/2029 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;5152 |
| Reynolds American, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.850%, 09/15/2023 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;21952 |
| &nbsp;&nbsp;&nbsp;5.850%, 08/15/2045 | 580000 | 494042 |
| Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 08/31/2026 (C) | 114000 | &nbsp;&nbsp;&nbsp;95903 |
| &nbsp;&nbsp;&nbsp;11.625%, 08/15/2027 (C) | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;21089 |
| Royalty Pharma PLC<br> 3.300%, 09/02/2040 | &nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;14575 |
| S&P Global, Inc.<br> 2.700%, 03/01/2029 (C) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;8802 |
| San Diego Gas & Electric Company<br> 3.320%, 04/15/2050 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;15724 |
| Santander Holdings USA, Inc.<br> 3.450%, 06/02/2025 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;35257 |
| Sempra Energy<br> 4.875%, (4.875% to 10-15-25, then 5 Year CMT + 4.550%), 10/15/2025 (G) | &nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;62878 |
| Signal Parent, Inc.<br> 6.125%, 04/01/2029 (C) | 212000 | &nbsp;&nbsp;&nbsp;61745 |
| Southern California Edison Company<br> 4.875%, 03/01/2049 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17586 |
| SRS Distribution, Inc.<br> 6.125%, 07/01/2029 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;68724 |
| Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 01/15/2031 (C) | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;43645 |
| &nbsp;&nbsp;&nbsp;4.375%, 07/15/2030 (C) | 392000 | 319450 |
| Staples, Inc.<br> 7.500%, 04/15/2026 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;73158 |
| STL Holding Company LLC<br> 7.500%, 02/15/2026 (C) | 100000 | &nbsp;&nbsp;&nbsp;88000 |
| Sutter Health<br> 4.091%, 08/15/2048 | 105000 | &nbsp;&nbsp;&nbsp;84897 |
| Sysco Corp.<br> 6.600%, 04/01/2040 | 140000 | 150023 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 02/01/2033 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;34415 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/01/2052 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18875 |
| Targa Resources Partners LP<br> 4.875%, 02/01/2031 | 112000 | 101130 |
| Terex Corp.<br> 5.000%, 05/15/2029 (C) | 200000 | 179750 |
| The Boeing Company<br> 5.805%, 05/01/2050 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;27815 |
| The Charles Schwab Corp.<br> 4.000%, (4.000% to 6-1-26, then 5 Year CMT + 3.168%), 06/01/2026 (G) | &nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;39905 |
| The Dun & Bradstreet Corp.<br> 5.000%, 12/15/2029 (C) | 190000 | 162595 |
| The Estee Lauder Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.950%, 03/15/2031 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;20219 |
| &nbsp;&nbsp;&nbsp;6.000%, 05/15/2037 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;16005 |
| The Gap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 10/01/2029 (C) | 183000 | 129088 |
| &nbsp;&nbsp;&nbsp;3.875%, 10/01/2031 (C) | 347000 | 242072 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, (3.650% to 8-10-26, then 5 Year CMT + 2.915%), 08/10/2026 (G) | $161000 | $130008 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then SOFR + 1.725%), 08/23/2028 | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;40253 |
| The Hertz Corp.<br> 5.000%, 12/01/2029 (C) | 119000 | &nbsp;&nbsp;&nbsp;90273 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 03/15/2051 | &nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;1193 |
| &nbsp;&nbsp;&nbsp;3.625%, 04/15/2052 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;23158 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/15/2052 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;23996 |
| The Southern Company |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 04/30/2030 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;13538 |
| &nbsp;&nbsp;&nbsp;4.000%, (4.000% to 10-15-25, then 5 Year CMT + 3.733%), 01/15/2051 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;31850 |
| The Toledo Hospital<br> 5.750%, 11/15/2038 | 100000 | &nbsp;&nbsp;&nbsp;94039 |
| The William Carter Company<br> 5.625%, 03/15/2027 (C) | 393000 | 376973 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/15/2029 | 121000 | 106573 |
| &nbsp;&nbsp;&nbsp;3.750%, 04/15/2027 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;30141 |
| TopBuild Corp.<br> 3.625%, 03/15/2029 (C) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;73791 |
| TransDigm, Inc.<br> 6.250%, 03/15/2026 (C) | 195000 | 192307 |
| Truist Financial Corp.<br> 5.125%, (5.125% to 12-15-27, then 3 month LIBOR + 2.786%), 12/15/2027 (G) | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;21940 |
| U.S. Steel Corp.<br> 6.875%, 03/01/2029 (H) | &nbsp;&nbsp;71000 | &nbsp;&nbsp;&nbsp;68916 |
| Uber Technologies, Inc.<br> 4.500%, 08/15/2029 (C) | 109000 | &nbsp;&nbsp;&nbsp;94967 |
| United Natural Foods, Inc.<br> 6.750%, 10/15/2028 (C) | 159000 | 152771 |
| United Wholesale Mortgage LLC<br> 5.500%, 04/15/2029 (C) | 544000 | 432741 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 10/15/2047 | &nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;21469 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;30951 |
| Venture Global Calcasieu Pass LLC<br> 4.125%, 08/15/2031 (C) | 118000 | 100535 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 03/22/2028 | &nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;32111 |
| &nbsp;&nbsp;&nbsp;3.400%, 03/22/2041 | &nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;16542 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/22/2050 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;7824 |
| &nbsp;&nbsp;&nbsp;4.016%, 12/03/2029 | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;64450 |
| VICI Properties LP<br> 5.625%, 05/15/2052 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;26537 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.755%, 03/15/2027 (C) | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;45026 |
| &nbsp;&nbsp;&nbsp;4.054%, 03/15/2029 (C) | &nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;31144 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 (C) | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;24483 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 (C) | 281000 | 204278 |
| &nbsp;&nbsp;&nbsp;5.391%, 03/15/2062 (C) | 180000 | 131402 |
| Weatherford International, Ltd.<br> 8.625%, 04/30/2030 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19206 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, (3.900% to 3-15-26, then 5 Year CMT + 3.453%), 03/15/2026 (G) | 146000 | 127789 |
| &nbsp;&nbsp;&nbsp;4.808%, (4.808% to 7-25-27, then SOFR + 1.980%), 07/25/2028 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;39068 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 63 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Wells Fargo & Company (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.897%, (4.897% to 7-25-32, then SOFR + 2.100%), 07/25/2033 | $&nbsp;&nbsp;410000 | $&nbsp;&nbsp;&nbsp;&nbsp;389309 |
| Western Midstream Operating LP<br> 4.300%, 02/01/2030 | &nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98640 |
| Xcel Energy, Inc.<br> 3.400%, 06/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25870 |
| Zoetis, Inc.<br> 3.000%, 05/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18239 |
|  |  | 23649824 |
| TOTAL CORPORATE BONDS (Cost $41,370,629) | TOTAL CORPORATE BONDS (Cost $41,370,629) | $36595452 |
| **CONVERTIBLE BONDS - 3.8%** | **CONVERTIBLE BONDS - 3.8%** |  |
| **Canada - 0.0%** |  |  |
| Shopify, Inc.<br> 0.125%, 11/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64031 |
| **China - 0.4%** |  |  |
| NIO, Inc.<br> 0.500%, 02/01/2027 | &nbsp;&nbsp;502000 | &nbsp;&nbsp;&nbsp;&nbsp;375898 |
| Smart Insight International, Ltd.<br> 4.500%, 12/05/2023 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;190508 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;566406 |
| **Israel - 0.0%** |  |  |
| SolarEdge Technologies, Inc., Zero Coupon<br> 0.000%, 09/15/2025 | $&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29796 |
| **Italy - 0.1%** |  |  |
| Nexi SpA<br> 1.750%, 04/24/2027 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90095 |
| **Luxembourg - 0.1%** |  |  |
| Arrival SA<br> 3.500%, 12/01/2026 (C) | $&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;126500 |
| **Singapore - 0.2%** |  |  |
| Sea, Ltd.<br> 0.250%, 09/15/2026 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;314975 |
| **United Kingdom - 0.2%** |  |  |
| Endeavour Mining Corp.<br> 3.000%, 02/15/2023 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;403680 |
| **United States - 2.8%** |  |  |
| 3D Systems Corp.<br> 10.227%, 11/15/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10912 |
| Affirm Holdings, Inc.<br> 16.428%, 11/15/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 |
| Airbnb, Inc.<br> 6.177%, 03/15/2026 (B) | &nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;124273 |
| Alarm.com Holdings, Inc.<br> 6.985%, 01/15/2026 (B) | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85250 |
| Apellis Pharmaceuticals, Inc.<br> 3.500%, 09/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92063 |
| Bandwidth, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 03/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46426 |
| &nbsp;&nbsp;&nbsp;0.500%, 04/01/2028 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55971 |
| Bentley Systems, Inc.<br> 0.125%, 01/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77520 |
| Beyond Meat, Inc.<br> 38.034%, 03/15/2027 (B) | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32890 |
| Bill.com Holdings, Inc.<br> 5.605%, 04/01/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15810 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 03/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16171 |
| &nbsp;&nbsp;&nbsp;0.250%, 11/01/2027 | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;116831 |
| Bloomin' Brands, Inc.<br> 5.000%, 05/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21750 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Cardlytics, Inc.<br> 1.000%, 09/15/2025 | $&nbsp;&nbsp;50000 | $&nbsp;&nbsp;&nbsp;21125 |
| Carnival Corp.<br> 5.750%, 12/01/2027 (C) | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;17860 |
| Ceridian HCM Holding, Inc.<br> 0.250%, 03/15/2026 | 154000 | 134981 |
| Cracker Barrel Old Country Store, Inc.<br> 0.625%, 06/15/2026 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;59763 |
| Dexcom, Inc.<br> 0.250%, 11/15/2025 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;92438 |
| DigitalOcean Holdings, Inc.<br> 7.596%, 12/01/2026 (B) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;63538 |
| DraftKings Holdings, Inc.<br> 9.525%, 03/15/2028 (B) | 144000 | &nbsp;&nbsp;&nbsp;89064 |
| Dropbox, Inc.<br> 2.226%, 03/01/2028 (B) | 110000 | &nbsp;&nbsp;&nbsp;98010 |
| Etsy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 10/01/2026 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;23168 |
| &nbsp;&nbsp;&nbsp;0.250%, 06/15/2028 | 120000 | 102456 |
| Euronet Worldwide, Inc.<br> 0.750%, 03/15/2049 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;18913 |
| Exact Sciences Corp.<br> 0.375%, 03/15/2027 to 03/01/2028 | 180000 | 144586 |
| FTI Consulting, Inc.<br> 2.000%, 08/15/2023 | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;26741 |
| Health Catalyst, Inc.<br> 2.500%, 04/15/2025 | &nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;4333 |
| JetBlue Airways Corp.<br> 0.500%, 04/01/2026 | 377000 | 274862 |
| John Bean Technologies Corp.<br> 0.250%, 05/15/2026 | 119000 | 102162 |
| Lumentum Holdings, Inc.<br> 0.500%, 06/15/2028 (C) | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;45414 |
| Nabors Industries, Inc.<br> 0.750%, 01/15/2024 | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;14720 |
| NCL Corp., Ltd.<br> 2.500%, 02/15/2027 (C) | &nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;41615 |
| Nutanix, Inc.<br> 0.250%, 10/01/2027 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;25095 |
| NuVasive, Inc.<br> 0.375%, 03/15/2025 | 260000 | 227760 |
| Oak Street Health, Inc.<br> 8.946%, 03/15/2026 (B) | &nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;17410 |
| Okta, Inc.<br> 0.125%, 09/01/2025 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;61495 |
| PAR Technology Corp.<br> 1.500%, 10/15/2027 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;10770 |
| Patrick Industries, Inc.<br> 1.750%, 12/01/2028 | &nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;24622 |
| Pebblebrook Hotel Trust<br> 1.750%, 12/15/2026 | &nbsp;&nbsp;98000 | &nbsp;&nbsp;&nbsp;80605 |
| Pegasystems, Inc.<br> 0.750%, 03/01/2025 | 112000 | &nbsp;&nbsp;&nbsp;95970 |
| Penn Entertainment, Inc.<br> 2.750%, 05/15/2026 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;14740 |
| Pioneer Natural Resources Company<br> 0.250%, 05/15/2025 | &nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;41976 |
| Rapid7, Inc.<br> 0.250%, 03/15/2027 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;62480 |
| Redfin Corp.<br> 0.500%, 04/01/2027 | 180000 | &nbsp;&nbsp;&nbsp;82260 |
| Repay Holdings Corp.<br> 10.551%, 02/01/2026 (B)(C) | 475000 | 346896 |
| RingCentral, Inc.<br> 7.176%, 03/01/2025 (B) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;60113 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 64 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CONVERTIBLE BONDS (continued)** | **CONVERTIBLE BONDS (continued)** |  |
| **United States (continued)** |  |  |
| Shake Shack, Inc.<br> 8.309%, 03/01/2028 (B) | $&nbsp;&nbsp;15000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9872 |
| Shift4 Payments, Inc.<br> 0.500%, 08/01/2027 | 370000 | &nbsp;&nbsp;&nbsp;&nbsp;311355 |
| Snap, Inc.<br> 0.125%, 03/01/2028 (C) | 560000 | &nbsp;&nbsp;&nbsp;&nbsp;373800 |
| Southwest Airlines Company<br> 1.250%, 05/01/2025 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;30025 |
| Splunk, Inc.<br> 1.125%, 09/15/2025 to 06/15/2027 | 153000 | &nbsp;&nbsp;&nbsp;&nbsp;129492 |
| Spotify USA, Inc.<br> 6.902%, 03/15/2026 (B) | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;72450 |
| Team, Inc.<br> 5.000%, 08/01/2023 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8850 |
| Teladoc Health, Inc.<br> 1.250%, 06/01/2027 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;36105 |
| The Greenbrier Companies, Inc.<br> 2.875%, 04/15/2028 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;66113 |
| The Middleby Corp.<br> 1.000%, 09/01/2025 | &nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;98742 |
| Uber Technologies, Inc.<br> 5.889%, 12/15/2025 (B) | 144000 | &nbsp;&nbsp;&nbsp;&nbsp;121285 |
| Western Digital Corp.<br> 1.500%, 02/01/2024 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;23813 |
|  |  | 4522210 |
| TOTAL CONVERTIBLE BONDS (Cost $7,318,085) | TOTAL CONVERTIBLE BONDS (Cost $7,318,085) | $6117693 |
| **MUNICIPAL BONDS - 3.8%** |  |  |
| **United States - 3.8%** |  |  |
| Chicago Transit Authority (Illinois)<br> 3.912%, 12/01/2040 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;50177 |
| Chicago Transit Authority (Illinois)<br> 3.502%, 12/01/2033 | 435000 | &nbsp;&nbsp;&nbsp;&nbsp;373329 |
| Chicago Transit Authority, Series A (Illinois)<br> 6.899%, 12/01/2040 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;60961 |
| City & County of Denver Company Airport System Revenue (Colorado)<br> 2.717%, 11/15/2034 | 105000 | &nbsp;&nbsp;&nbsp;&nbsp;80776 |
| City & County of Denver Company Airport System Revenue (Colorado)<br> 2.867%, 11/15/2037 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;55577 |
| City of Austin Airport System Revenue (Texas)<br> 5.000%, 11/15/2032 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;107171 |
| City of Austin Airport System Revenue (Texas)<br> 5.000%, 11/15/2044 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;245478 |
| City of Houston Airport System Revenue (Texas)<br> 2.385%, 07/01/2031 | 240000 | &nbsp;&nbsp;&nbsp;&nbsp;194107 |
| City of San Antonio Electric & Gas Systems Revenue (Texas)<br> 4.365%, 02/01/2042 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;82387 |
| City of San Antonio Electric & Gas Systems Revenue (Texas)<br> 4.445%, 02/01/2047 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;84563 |
| City of Tampa (Florida)<br> 4.417%, 09/01/2036 (B) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;54908 |
| Commonwealth of Massachusetts, GO<br> 2.514%, 07/01/2041 | 625000 | &nbsp;&nbsp;&nbsp;&nbsp;450029 |
| County of Broward Port Facilities Revenue (Florida)<br> 5.000%, 09/01/2033 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;76652 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| **United States (continued)** |  |  |
| County of Broward Port Facilities Revenue (Florida)<br> 5.000%, 09/01/2029 | $100000 | $113658 |
| County of Broward Port Facilities Revenue (Florida)<br> 5.000%, 09/01/2028 | 150000 | 163180 |
| County of Miami-Dade Aviation Revenue (Florida)<br> 2.786%, 10/01/2037 | 200000 | 143348 |
| County of Miami-Dade Aviation Revenue (Florida)<br> 4.000%, 10/01/2036 | 115000 | 113865 |
| County of Miami-Dade Aviation Revenue (Florida)<br> 3.270%, 10/01/2041 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;36950 |
| Dallas Fort Worth International Airport (Texas)<br> 3.089%, 11/01/2040 | 130000 | 101057 |
| Dallas Fort Worth International Airport (Texas)<br> 4.087%, 11/01/2051 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;41634 |
| District of Columbia<br> 3.432%, 04/01/2042 | 405000 | 300439 |
| Grand Parkway Transportation Corp. (Texas)<br> 3.236%, 10/01/2052 | 190000 | 134715 |
| Greater Orlando Aviation Authority (Florida)<br> 5.000%, 10/01/2028 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;52870 |
| Greater Orlando Aviation Authority (Florida)<br> 5.000%, 10/01/2028 | 100000 | 103605 |
| Iowa Finance Authority<br> 3.250%, 07/01/2050 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;49098 |
| Metropolitan Transportation Authority (New York)<br> 5.000%, 11/15/2050 | 110000 | 105680 |
| Metropolitan Transportation Authority (New York)<br> 6.668%, 11/15/2039 | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;15493 |
| Metropolitan Transportation Authority (New York)<br> 5.000%, 11/15/2029 | 100000 | 104280 |
| New Jersey Educational Facilities Authority<br> 5.000%, 03/01/2032 | 105000 | 125178 |
| New Jersey Transportation Trust Fund Authority<br> 4.000%, 06/15/2045 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;43663 |
| New York City Transitional Finance Authority<br> 4.000%, 05/01/2045 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;70056 |
| Orange County Convention Center (Florida)<br> 5.000%, 10/01/2031 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;57711 |
| Port Authority of New York & New Jersey<br> 4.000%, 03/15/2030 | 230000 | 235138 |
| Port Authority of New York & New Jersey<br> 5.000%, 09/15/2033 | 140000 | 148764 |
| Port Authority of New York & New Jersey<br> 4.823%, 06/01/2045 | 140000 | 128777 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 65 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| **United States (continued)** |  |  |
| Port of Seattle (Washington)<br> 5.000%, 04/01/2039 | $190000 | $&nbsp;&nbsp;&nbsp;&nbsp;197242 |
| Port of Seattle (Washington)<br> 5.000%, 10/01/2031 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;103926 |
| Regents of the University of California Medical Center Pooled Revenue<br> 4.563%, 05/15/2053 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;122475 |
| Sales Tax Securitization Corp. (Illinois)<br> 3.238%, 01/01/2042 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;18997 |
| San Diego County Regional Transportation Commission (California)<br> 3.248%, 04/01/2048 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;56508 |
| San Francisco City & County Airport Commission (California)<br> 5.000%, 05/01/2050 | 325000 | &nbsp;&nbsp;&nbsp;&nbsp;328825 |
| San Francisco City & County Airport Commission (California)<br> 4.000%, 05/01/2039 | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;150351 |
| San Francisco City & County Airport Commission (California)<br> 2.958%, 05/01/2051 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;97130 |
| State of Hawaii Airports System Revenue<br> 4.000%, 07/01/2035 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;96813 |
| State of Hawaii Airports System Revenue<br> 5.000%, 07/01/2034 | 295000 | &nbsp;&nbsp;&nbsp;&nbsp;315722 |
| State of Illinois, GO<br> 5.100%, 06/01/2033 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;38390 |
| Triborough Bridge & Tunnel Authority (New York)<br> 5.000%, 11/15/2054 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;147291 |
| Wisconsin Center District<br> 4.173%, 12/15/2050 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;49332 |
| TOTAL MUNICIPAL BONDS (Cost $7,233,480) | TOTAL MUNICIPAL BONDS (Cost $7,233,480) | $6028276 |
| **TERM LOANS (I) - 3.9%** | **TERM LOANS (I) - 3.9%** |  |
| **Luxembourg - 0.1%** |  |  |
| Delta 2 Lux Sarl, Term Loan B (3 month SOFR + 3.250%) 7.791%, 01/15/2030 | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;139825 |
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3 (3 month LIBOR + 3.750%) 8.480%, 10/01/2026 | &nbsp;&nbsp;98003 | &nbsp;&nbsp;&nbsp;&nbsp;93701 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;233526 |
| **Netherlands - 0.1%** |  |  |
| Boels Topholding BV, 2021 EUR Term Loan B (1 and 3 month EURIBOR + 3.250%) 4.983%, 02/06/2027 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;158958 |
| **Sweden - 0.1%** |  |  |
| Verisure Holding AB, 2020 EUR Term Loan B (6 month EURIBOR + 3.250%) 3.753%, 07/20/2026 | 155000 | &nbsp;&nbsp;&nbsp;&nbsp;156242 |
| **United States - 3.6%** |  |  |
| Aramark Services, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) 6.134%, 03/11/2025 | $125000 | &nbsp;&nbsp;&nbsp;&nbsp;124024 |
| Artera Services LLC, Incremental Term Loan (3 month LIBOR + 3.500%) 8.230%, 03/06/2025 | &nbsp;&nbsp;98500 | &nbsp;&nbsp;&nbsp;&nbsp;80463 |
| Asurion LLC, 2020 Term Loan B8 (1 month LIBOR + 3.250%) 7.634%, 12/23/2026 | 145599 | &nbsp;&nbsp;&nbsp;&nbsp;129492 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (I) (continued)** | **TERM LOANS (I) (continued)** |  |
| **United States (continued)** |  |  |
| Asurion LLC, 2021 2nd Lien Term Loan B3 (1 month LIBOR + 5.250%) 9.634%, 01/31/2028 | $145000 | $112495 |
| Avantor Funding, Inc., 2021 Term Loan B5 (1 month LIBOR + 2.250%) 6.634%, 11/08/2027 | 128821 | 128034 |
| Berlin Packaging LLC, 2021 Term Loan B5 (1 and 3 month LIBOR + 3.750%) 7.912%, 03/11/2028 | 167875 | 161187 |
| Brown Group Holding LLC, Term Loan B (1 month LIBOR + 2.500%) 6.884%, 06/07/2028 | 172659 | 169230 |
| Caesars Resort Collection LLC, 2020 Term Loan B1 (1 month LIBOR + 3.500%) 7.884%, 07/21/2025 | &nbsp;&nbsp;94869 | &nbsp;&nbsp;&nbsp;94546 |
| Carnival Corp., 2021 Incremental Term Loan B (1 month LIBOR + 3.250%) 7.634%, 10/18/2028 | 163350 | 152487 |
| Charter Communications Operating LLC, 2019 Term Loan B2 (1 month LIBOR + 1.750%) 6.140%, 02/01/2027 | 145854 | 142234 |
| Clarios Global LP, 2021 USD Term Loan B (1 month LIBOR + 3.250%) 7.637%, 04/30/2026 | 169891 | 166140 |
| Crocs, Inc., Term Loan B (6 month SOFR + 3.500%) 7.731%, 02/20/2029 | 150750 | 147547 |
| Dcert Buyer, Inc., 2019 Term Loan B (6 month SOFR + 4.000%) 8.696%, 10/16/2026 | 194500 | 187622 |
| DT Midstream, Inc., Term Loan B (1 month LIBOR + 2.000%) 6.438%, 06/26/2028 | &nbsp;&nbsp;51913 | &nbsp;&nbsp;&nbsp;51945 |
| EG America LLC, 2021 Term Loan (3 month LIBOR + 4.250%) 8.980%, 03/31/2026 | &nbsp;&nbsp;98842 | &nbsp;&nbsp;&nbsp;92170 |
| Elanco Animal Health, Inc., Term Loan B (1 month LIBOR + 1.750%) 5.870%, 08/01/2027 | 104587 | 100256 |
| Epicor Software Corp., 2020 Term Loan (1 month LIBOR + 3.250%) 7.634%, 07/30/2027 | 133016 | 127453 |
| Gainwell Acquisition Corp., Term Loan B (3 month LIBOR + 4.000%) 8.730%, 10/01/2027 | 112700 | 105515 |
| Great Outdoors Group LLC, 2021 Term Loan B1 (1 month LIBOR + 3.750%) 8.134%, 03/06/2028 | 274426 | 263106 |
| HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 3.000%) 7.327%, 04/25/2025 | 142647 | 140924 |
| Hyland Software, Inc., 2018 1st Lien Term Loan (1 month LIBOR + 3.500%) 7.884%, 07/01/2024 | 161212 | 158834 |
| IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.000%) 7.317%, 12/15/2027 | 197492 | 191420 |
| LBM Acquisition LLC, Term Loan B (6 month LIBOR + 3.750%) 7.121%, 12/17/2027 | 202087 | 174743 |
| McAfee Corp., 2022 USD Term Loan B (1 month SOFR + 3.750%) 7.974%, 03/01/2029 | 129350 | 120087 |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) 7.634%, 10/23/2028 | 203463 | 193082 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 66 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **TERM LOANS (I) (continued)** | **TERM LOANS (I) (continued)** |  |
| **United States (continued)** |  |  |
| MH Sub I LLC, 2020 Incremental Term Loan (1 month LIBOR + 3.750%) 8.134%, 09/13/2024 | $&nbsp;&nbsp;98734 | $&nbsp;&nbsp;&nbsp;&nbsp;95808 |
| Oryx Midstream Services Permian Basin LLC, Term Loan B (3 month LIBOR + 3.250%) 7.924%, 10/05/2028 | &nbsp;&nbsp;98052 | &nbsp;&nbsp;&nbsp;&nbsp;96750 |
| Pathway Vet Alliance LLC, 2021 Term Loan (3 month LIBOR + 3.750%) 8.134%, 03/31/2027 | 121627 | &nbsp;&nbsp;&nbsp;&nbsp;100595 |
| Polaris Newco LLC, USD Term Loan B (3 month LIBOR + 4.000%) 8.730%, 06/02/2028 | 118500 | &nbsp;&nbsp;&nbsp;&nbsp;107878 |
| Quikrete Holdings, Inc., 2016 1st Lien Term Loan (1 month LIBOR + 2.625%) 7.009%, 02/01/2027 | 194000 | &nbsp;&nbsp;&nbsp;&nbsp;191575 |
| Sedgwick Claims Management Services, Inc., 2018 Term Loan B (1 month LIBOR + 3.250%) 7.634%, 12/31/2025 | &nbsp;&nbsp;94970 | &nbsp;&nbsp;&nbsp;&nbsp;92255 |
| SRS Distribution, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) 7.884%, 06/02/2028 | 153063 | &nbsp;&nbsp;&nbsp;&nbsp;146038 |
| SS&C Technologies, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) 6.134%, 04/16/2025 | &nbsp;&nbsp;95470 | &nbsp;&nbsp;&nbsp;&nbsp;93706 |
| SS&C Technologies, Inc., 2018 Term Loan B4 (1 month LIBOR + 1.750%) 6.134%, 04/16/2025 | &nbsp;&nbsp;77614 | &nbsp;&nbsp;&nbsp;&nbsp;76181 |
| Surgery Center Holdings, Inc., 2021 Term Loan (3 month LIBOR + 3.750%) 8.050%, 08/31/2026 | &nbsp;&nbsp;87207 | &nbsp;&nbsp;&nbsp;&nbsp;85998 |
| Tecta America Corp., 2021 Term Loan (1 month LIBOR + 4.250%) 8.688%, 04/10/2028 | 128050 | &nbsp;&nbsp;&nbsp;&nbsp;122608 |
| The Dun & Bradstreet Corp., Term Loan (1 month LIBOR + 3.250%) 7.639%, 02/06/2026 | 102317 | &nbsp;&nbsp;&nbsp;&nbsp;101202 |
| The Michaels Companies, Inc., 2021 Term Loan B (3 month LIBOR + 4.250%) 8.980%, 04/15/2028 | 128050 | &nbsp;&nbsp;&nbsp;&nbsp;110195 |
| TransDigm, Inc., 2020 Term Loan E (3 month LIBOR + 2.250%) 6.980%, 05/30/2025 | 194000 | &nbsp;&nbsp;&nbsp;&nbsp;191713 |
| UFC Holdings LLC, 2021 Term Loan B (3 month LIBOR + 2.750%) 7.110%, 04/29/2026 | 177355 | &nbsp;&nbsp;&nbsp;&nbsp;174794 |
| UKG, Inc., Term Loan B (1 month LIBOR + 3.750%) 8.134%, 05/04/2026 | 145854 | &nbsp;&nbsp;&nbsp;&nbsp;140385 |
| USI, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.750%) 8.330%, 11/22/2029 | &nbsp;&nbsp;79800 | &nbsp;&nbsp;&nbsp;&nbsp;78945 |
| Virgin Media Bristol LLC, 2020 USD Term Loan Q (1 month LIBOR + 3.250%) 7.568%, 01/31/2029 | 145000 | &nbsp;&nbsp;&nbsp;&nbsp;143441 |
| WW International, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) 7.890%, 04/13/2028 | &nbsp;&nbsp;94500 | &nbsp;&nbsp;&nbsp;&nbsp;53393 |
|  |  | 5718496 |
| TOTAL TERM LOANS (Cost $6,562,852) | TOTAL TERM LOANS (Cost $6,562,852) | $6267222 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 3.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS - 3.3%** |  |
| **Commercial and residential - 1.1%** |  |  |
| Angel Oak Mortgage Trust, Series 2020-3, Class M1,<br> 3.809%, 04/25/2065 (C)(J) | $&nbsp;&nbsp;180000 | $&nbsp;&nbsp;&nbsp;&nbsp;147365 |
| ANTLR Mortgage Trust, Series 2021-RTL1, Class A1 (2.115% to 10-25-23, then 3.115% thereafter),<br> 2.115%, 11/25/2024 (C) | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;118956 |
| BANK |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-BN35, Class XA IO,<br> 1.047%, 06/15/2064 | 1321929 | &nbsp;&nbsp;&nbsp;&nbsp;78698 |
| &nbsp;&nbsp;&nbsp;Series 2021-BN37, Class XA IO,<br> 0.607%, 11/15/2064 | &nbsp;&nbsp;996140 | &nbsp;&nbsp;&nbsp;&nbsp;33471 |
| Benchmark Mortgage Trust, Series 2019-B10, Class XA IO,<br> 1.221%, 03/15/2062 | &nbsp;&nbsp;562787 | &nbsp;&nbsp;&nbsp;&nbsp;29130 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class M1,<br> 3.181%, 05/25/2060 (C)(J) | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;161424 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class M1,<br> 2.316%, 02/25/2049 (C)(J) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;63515 |
| BX Commercial Mortgage Trust, Series 2020-VKNG, Class F (1 month CME Term SOFR + 2.864%),<br> 7.200%, 10/15/2037 (C)(E) | &nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp;175431 |
| BX Trust, Series 2021-MFM1, Class D (1 month LIBOR + 1.500%),<br> 5.818%, 01/15/2034 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;51704 |
| GS Mortgage Securities Trust, Series 2017-GS6, Class C,<br> 4.322%, 05/10/2050 (J) | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;21190 |
| LHOME Mortgage Trust, Series 2021-RTL2, Class A1 (2.090% to 1-25-24, then 3.090% thereafter),<br> 2.090%, 06/25/2026 (C) | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;145733 |
| LoanCore Issuer, Ltd., Series 2021-CRE4, Class B (1 month SOFR + 1.364%),<br> 5.172%, 07/15/2035 (C)(E) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;96014 |
| NYMT Loan Trust I, Series 2021-BPL1, Class A1 (2.239% to 5-25-24, then 4.239% thereafter),<br> 2.239%, 05/25/2026 (C) | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;213285 |
| PRPM LLC, Series 2021-5, Class A1 (1.793% to 6-25-24, then 4.793% to 6-25-25, then 5.793% thereafter),<br> 1.793%, 06/25/2026 (C) | &nbsp;&nbsp;114851 | &nbsp;&nbsp;&nbsp;&nbsp;103995 |
| Ready Capital Mortgage Financing LLC, Series 2021-FL7, Class AS (1 month LIBOR + 1.500%),<br> 5.889%, 11/25/2036 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;52427 |
| Verus Securitization Trust, Series 2020-INV1, Class A3,<br> 3.889%, 03/25/2060 (C)(J) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;90306 |
| Wells Fargo Mortgage Backed Securities Trust, Series 2019-3, Class A1,<br> 3.500%, 07/25/2049 (C)(J) | &nbsp;&nbsp;&nbsp;&nbsp;15793 | &nbsp;&nbsp;&nbsp;&nbsp;14350 |
| WF-RBS Commercial Mortgage Trust, Series 2011-C4, Class C,<br> 4.844%, 06/15/2044 (C)(J) | &nbsp;&nbsp;105488 | &nbsp;&nbsp;&nbsp;&nbsp;105070 |
|  |  | 1702064 |
| **U.S. Government Agency - 2.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-DNA6, Class B1 (1 month SOFR + 3.000%),<br> 6.928%, 12/25/2050 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;32821 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 67 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-HQA3, Class B1 (1 month LIBOR + 5.750%),<br> 10.139%, 07/25/2050 (C)(E) | $&nbsp;&nbsp;192812 | $197175 |
| &nbsp;&nbsp;&nbsp;Series 2021-DNA6, Class M2 (1 month SOFR + 1.500%),<br> 5.428%, 10/25/2041 (C)(E) | &nbsp;&nbsp;188000 | 178594 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA1, Class M2 (1 month SOFR + 2.250%),<br> 6.178%, 08/25/2033 (C)(E) | &nbsp;&nbsp;185000 | 174239 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA3, Class M2 (1 month SOFR + 2.100%),<br> 6.028%, 09/25/2041 (C)(E) | &nbsp;&nbsp;355000 | 312480 |
| &nbsp;&nbsp;&nbsp;Series 2021-HQA4, Class M2 (1 month SOFR + 2.350%),<br> 6.278%, 12/25/2041 (C)(E) | &nbsp;&nbsp;210000 | 185326 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class B1 (1 month SOFR + 3.400%),<br> 7.328%, 01/25/2042 (C)(E) | &nbsp;&nbsp;175000 | 155226 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class M2 (1 month SOFR + 2.500%),<br> 6.428%, 01/25/2042 (C)(E) | &nbsp;&nbsp;185000 | 167099 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M2 (1 month SOFR + 3.750%),<br> 7.678%, 02/25/2042 (C)(E) | &nbsp;&nbsp;150000 | 141067 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1B (1 month SOFR + 2.900%),<br> 6.828%, 04/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59288 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M2 (1 month SOFR + 6.750%),<br> 10.678%, 06/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;78359 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M1B (1 month SOFR + 3.500%),<br> 7.428%, 03/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;19831 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M2 (1 month SOFR + 5.250%),<br> 9.178%, 03/25/2042 (C)(E) | &nbsp;&nbsp;560000 | 543263 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (1 month SOFR + 3.550%),<br> 7.478%, 08/25/2042 (C)(E) | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59476 |
| &nbsp;&nbsp;&nbsp;Series 324, Class C18 IO,<br> 4.000%, 12/15/2033 | &nbsp;&nbsp;233330 | &nbsp;&nbsp;&nbsp;26791 |
| &nbsp;&nbsp;&nbsp;Series 4446, Class BI IO,<br> 6.500%, 04/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;96923 | &nbsp;&nbsp;&nbsp;19715 |
| &nbsp;&nbsp;&nbsp;Series K066, Class X1 IO,<br> 0.749%, 06/25/2027 | 1232923 | &nbsp;&nbsp;&nbsp;33081 |
| &nbsp;&nbsp;&nbsp;Series K103, Class X1 IO,<br> 0.639%, 11/25/2029 | 1022331 | &nbsp;&nbsp;&nbsp;36100 |
| &nbsp;&nbsp;&nbsp;Series K106, Class X3 IO,<br> 1.920%, 03/25/2048 | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;50348 |
| &nbsp;&nbsp;&nbsp;Series K122, Class X1 IO,<br> 0.882%, 11/25/2030 | &nbsp;&nbsp;&nbsp;&nbsp;99667 | &nbsp;&nbsp;&nbsp;&nbsp;5180 |
| &nbsp;&nbsp;&nbsp;Series K129, Class X3 IO,<br> 3.164%, 05/25/2031 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;31709 |
| &nbsp;&nbsp;&nbsp;Series K737, Class X1 IO,<br> 0.638%, 10/25/2026 | &nbsp;&nbsp;490704 | &nbsp;&nbsp;&nbsp;&nbsp;9126 |
| &nbsp;&nbsp;&nbsp;Series K738, Class X1 IO,<br> 1.514%, 01/25/2027 | &nbsp;&nbsp;647876 | &nbsp;&nbsp;&nbsp;30992 |
| &nbsp;&nbsp;&nbsp;Series K740, Class X3 IO,<br> 2.482%, 11/25/2047 | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;12800 |
| &nbsp;&nbsp;&nbsp;Series K742, Class X3, IO,<br> 2.595%, 04/25/2028 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;10758 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series Q014, Class X IO,<br> 2.793%, 10/25/2055 | 156598 | $&nbsp;&nbsp;&nbsp;&nbsp;29138 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-C05, Class 1B1 (1 month LIBOR + 4.250%),<br> 8.639%, 01/25/2031 (E) | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;237449 |
| &nbsp;&nbsp;&nbsp;Series 2021-67, Class IG IO,<br> 3.000%, 10/25/2051 | 145624 | &nbsp;&nbsp;&nbsp;&nbsp;22764 |
| &nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2B1 (1 month SOFR + 4.500%),<br> 8.428%, 01/25/2042 (C)(E) | 175000 | &nbsp;&nbsp;&nbsp;&nbsp;165546 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1 (1 month SOFR + 6.250%),<br> 10.178%, 03/25/2042 (C)(E) | &nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;71741 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1M2 (1 month SOFR + 3.500%),<br> 7.428%, 03/25/2042 (C)(E) | &nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp;59739 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1B1 (1 month SOFR + 5.250%),<br> 9.178%, 03/25/2042 (C)(E) | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;165001 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2B1 (1 month SOFR + 4.500%),<br> 8.428%, 04/25/2042 (C)(E) | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;67676 |
| &nbsp;&nbsp;&nbsp;Series 410, Class C8 IO,<br> 4.000%, 04/25/2032 | 143528 | &nbsp;&nbsp;&nbsp;&nbsp;15673 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-62, Class CI IO,<br> 4.500%, 05/20/2045 | 140649 | &nbsp;&nbsp;&nbsp;&nbsp;26569 |
| &nbsp;&nbsp;&nbsp;Series 2017-130, Class IO,<br> 4.500%, 02/20/2040 | 145374 | &nbsp;&nbsp;&nbsp;&nbsp;24735 |
| &nbsp;&nbsp;&nbsp;Series 2018-168, Class AI IO,<br> 5.000%, 12/16/2048 | 124493 | &nbsp;&nbsp;&nbsp;&nbsp;24747 |
|  |  | 3481622 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $5,456,835) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $5,456,835) | $5183686 |
| **ASSET BACKED SECURITIES - 3.2%** | **ASSET BACKED SECURITIES - 3.2%** |  |
| Arbor Realty Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class B (1 month LIBOR + 1.600%),<br> 5.918%, 08/15/2034 (C)(E) | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;103727 |
| Bain Capital Credit CLO, Ltd., Series 2020-5A, Class E (3 month LIBOR + 6.900%),<br> 11.143%, 01/20/2032 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;226109 |
| Benefit Street Partners CLO XIX, Ltd., Series 2019-19A, Class E (3 month LIBOR + 7.020%),<br> 11.099%, 01/15/2033 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;224296 |
| BlueMountain CLO, Ltd., Series 2018-2A, Class D (3 month LIBOR + 3.150%),<br> 7.756%, 08/15/2031 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;217204 |
| Bojangles Issuer LLC, Series 2020-1A, Class A2,<br> 3.832%, 10/20/2050 (C) | 124063 | &nbsp;&nbsp;&nbsp;&nbsp;111226 |
| CoreVest American Finance Trust, Series 2020-4, Class B,<br> 1.707%, 12/15/2052 (C) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;86513 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 68 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Elmwood CLO VII, Ltd., Series 2020-4A, Class C (3 month LIBOR + 2.250%),<br> 6.329%, 01/17/2034 (C)(E) | $250000 | $238544 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class C,<br> 1.460%, 09/15/2027 (C) | 350000 | 317721 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class D,<br> 1.650%, 09/15/2027 (C) | 112000 | &nbsp;&nbsp;&nbsp;97123 |
| Greystone Commercial Real Estate Notes, Ltd., Series 2021-FL3, Class B (1 month LIBOR + 1.650%),<br> 5.968%, 07/15/2039 (C)(E) | 100000 | &nbsp;&nbsp;&nbsp;93733 |
| HIN Timeshare Trust, Series 2020-A, Class A,<br> 1.390%, 10/09/2039 (C) | &nbsp;&nbsp;22744 | &nbsp;&nbsp;&nbsp;20714 |
| Home Partners of America Trust, Series 2022-1, Class D,<br> 4.730%, 04/17/2039 (C) | 150303 | 136327 |
| Horizon Aircraft Finance II, Ltd., Series 2019-1, Class A,<br> 3.721%, 07/15/2039 (C) | 198362 | 156037 |
| JFIN CLO, Ltd., Series 2016-1A, Class DR (3 month LIBOR + 3.400%),<br> 7.758%, 10/27/2028 (C)(E) | 175000 | 163291 |
| KKR CLO, Ltd., Series 2020, Class B (3 month LIBOR + 1.550%),<br> 5.629%, 10/16/2030 (C)(E) | 282000 | 272185 |
| LAD Auto Receivables Trust, Series 2021-1A, Class B,<br> 1.940%, 11/16/2026 (C) | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;79751 |
| LCM XXV, Ltd., Series 25A, Class B2 (3 month LIBOR + 1.650%),<br> 5.893%, 07/20/2030 (C)(E) | 250000 | 239423 |
| Lendbuzz Securitization Trust, Series 2021-1A, Class A,<br> 1.460%, 06/15/2026 (C) | 129122 | 123094 |
| MAPS Trust, Series 2021-1A, Class A,<br> 2.521%, 06/15/2046 (C) | 196221 | 162811 |
| Mercury Financial Credit Card Master Trust, Series 2022-1A, Class A,<br> 2.500%, 09/21/2026 (C) | 150000 | 142608 |
| MFA LLC, Series 2021-NPL1, Class A1 (2.363% to 3-25-24, then 5.363% to 3-25-25, then 6.363% thereafter),<br> 2.363%, 03/25/2060 (C) | &nbsp;&nbsp;75954 | &nbsp;&nbsp;&nbsp;71294 |
| Octagon Investment Partners 49, Ltd., Series 2020-5A, Class D (3 month LIBOR + 3.400%),<br> 7.479%, 01/15/2033 (C)(E) | 250000 | 232430 |
| OZLM VII, Ltd., Series 2014-7RA, Class CR (3 month LIBOR + 3.000%),<br> 7.079%, 07/17/2029 (C)(E) | 250000 | 233782 |
| Pretium Mortgage Credit Partners LLC, Series 2021-RN1, Class A2 (3.598% to 6-25-25, then 7.598% thereafter),<br> 3.598%, 02/25/2061 (C) | 185000 | 151134 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR2, Class D,<br> 2.197%, 04/19/2038 (C) | 100000 | &nbsp;&nbsp;&nbsp;85598 |
| &nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class E1,<br> 3.930%, 02/17/2041 (C) | 150000 | 116738 |
| Stratus CLO, Ltd., Series 2021-1A, Class D (3 month LIBOR + 2.500%),<br> 6.743%, 12/29/2029 (C)(E) | 250000 | 227258 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Summit Issuer LLC, Series 2020-1A, Class A2,<br> 2.290%, 12/20/2050 (C) | &nbsp;&nbsp;55000 | $&nbsp;&nbsp;&nbsp;&nbsp;48151 |
| Symphony CLO XXII, Ltd., Series 2020-22A, Class C (3 month LIBOR + 2.150%),<br> 6.344%, 04/18/2033 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;236769 |
| TRTX Issuer, Ltd., Series 2019-FL3, Class D (1 month CME Term SOFR + 2.564%),<br> 6.890%, 10/15/2034 (C)(E) | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;96147 |
| Vericrest Opportunity Loan Transferee, Series 2021-NP11, Class A1 (1.868% to 7-25-24, then 4.868% to 7-25-25, then 5.868% thereafter),<br> 1.868%, 08/25/2051 (C) | 190570 | &nbsp;&nbsp;&nbsp;&nbsp;164430 |
| VOLT XCVI LLC, Series 2021-NPL5, Class A1 (2.116% to 2-25-24, then 5.116% to 2-25-25, then 6.116% thereafter),<br> 2.116%, 03/27/2051 (C) | &nbsp;&nbsp;71297 | &nbsp;&nbsp;&nbsp;&nbsp;64635 |
| Voya CLO, Ltd., Series 2013-3A, Class BRR (3 month LIBOR + 2.250%),<br> 6.444%, 10/18/2031 (C)(E) | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;230271 |
| TOTAL ASSET BACKED SECURITIES (Cost $5,665,497) | TOTAL ASSET BACKED SECURITIES (Cost $5,665,497) | $5171074 |
| **COMMON STOCKS - 0.0%** | **COMMON STOCKS - 0.0%** |  |
| **United States - 0.0%** |  |  |
| Workday, Inc., Class A (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 |
| TOTAL COMMON STOCKS (Cost $12,163) | TOTAL COMMON STOCKS (Cost $12,163) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179 |
| **PREFERRED SECURITIES - 0.2%** | **PREFERRED SECURITIES - 0.2%** |  |
| **Bermuda - 0.0%** |  |  |
| Athene Holding, Ltd., 6.375% (6.375% to 6-30-25, then 5 Year CMT + 5.970%) | &nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp;29805 |
| **United States - 0.2%** |  |  |
| AT&T, Inc., 5.000% | &nbsp;&nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;30278 |
| Bank of America Corp., 7.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;46400 |
| Becton, Dickinson and Company, 6.000% | &nbsp;&nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp;69411 |
| Fluor Corp., 6.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8217 |
| Morgan Stanley, 5.850% (5.850% to 4-15-27, then 3 month LIBOR + 3.491%) | &nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;31064 |
| NextEra Energy, Inc., 6.926% | &nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8131 |
| NiSource, Inc., 6.500% (6.500% to 3-15-24, then 5 Year CMT + 3.632%) | &nbsp;&nbsp;&nbsp;1875 | &nbsp;&nbsp;&nbsp;&nbsp;45544 |
| SCE Trust V, 5.450% (5.450% to 3-15-26, then 3 month LIBOR + 3.790%) | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;15552 |
| State Street Corp., 5.900% (5.900% to 3-15-24, then 3 month LIBOR + 3.108%) | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;15665 |
| The Allstate Corp., 5.100% (5.100% to 1-30-23, then 3 month LIBOR + 3.165%) | &nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;31607 |
| Wells Fargo & Company, 5.850% (5.850% to 9-15-23, then 3 month LIBOR + 3.090%) | &nbsp;&nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp;31800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;333669 |
| TOTAL PREFERRED SECURITIES (Cost $368,074) | TOTAL PREFERRED SECURITIES (Cost $368,074) | $&nbsp;&nbsp;&nbsp;&nbsp;363474 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 69 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **EXCHANGE-TRADED FUNDS - 0.3%** | **EXCHANGE-TRADED FUNDS - 0.3%** |  |
| SPDR Bloomberg Convertible Securities ETF (H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488984 |
| TOTAL EXCHANGE-TRADED FUNDS (Cost $426,512) | TOTAL EXCHANGE-TRADED FUNDS (Cost $426,512) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488984 |
| **SHORT-TERM INVESTMENTS - 9.6%** | **SHORT-TERM INVESTMENTS - 9.6%** |  |
| **U.S. Government - 0.0%** |  |  |
| U.S. Treasury Bill<br> 3.904%, 02/07/2023 \* | $&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67742 |
| **Short-term funds - 9.6%** |  |  |
| John Hancock Collateral Trust, 4.2988% (K)(L) | &nbsp;&nbsp;&nbsp;&nbsp;29162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291498 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.0954% (K) | 15039801 | &nbsp;&nbsp;&nbsp;15039801 |
|  |  | &nbsp;&nbsp;&nbsp;15331299 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,398,894) | TOTAL SHORT-TERM INVESTMENTS (Cost $15,398,894) | $&nbsp;&nbsp;&nbsp;15399041 |
| **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $203,850,443) - 111.8%** | **Total Investments (Opportunistic Fixed Income Trust)<br> (Cost $203,850,443) - 111.8%** | $**179235288** |
| **Other assets and liabilities, net - (11.8%)** | **Other assets and liabilities, net - (11.8%)** | &nbsp;&nbsp;**(18884960)** |
| **TOTAL NET ASSETS - 100.0%** | **TOTAL NET ASSETS - 100.0%** | $**160350328** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ISK | Icelandic Krona |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| RUB | Russian Ruble |
| THB | Thai Bhat |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| JIBAR | Johannesburg Interbank Agreed Rate |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| WIBOR | Warsaw Interbank Offered Rate |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $29,410,746 or 18.3% of the fund's net assets as of 12-31-22. |
| (D) | Non-income producing security. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | Non-income producing - Issuer is in default. |
| (G) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (H) | All or a portion of this security is on loan as of 12-31-22. |
| (I) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (J) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (K) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (L) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
| \* | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| 10-Year Australian Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$3741686 | &nbsp;&nbsp;&nbsp;&nbsp;$3542915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(198771) |
| 10-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;12325662 | &nbsp;&nbsp;&nbsp;&nbsp;12240359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85303) |
| 30-Day Federal Funds Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Sep 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7540496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7530144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10352) |
| 5-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;25332110 | &nbsp;&nbsp;&nbsp;&nbsp;25147617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184493) |
| Euro SCHATZ Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1194) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41586) |
| Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2139) |
| 10-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(822002) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(814586) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7416 |
| 10-Year Japan Government Bond Future | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7914307) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7758458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155849 |
| 2-Year U.S. Treasury Note Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6162766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6152344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10422 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 70 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FUTURES (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)**  |
| 5-Year Canada Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(165337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(164653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$684 |
| Euro-BTP Italian Government Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5126603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4780328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346275 |
| Euro-Buxl Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4865255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4053492) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811763 |
| Euro-OAT Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2310411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2180292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130119 |
| German Euro BOBL Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1271330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1239045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32285 |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1502746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1422949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79797 |
| U.K. Long Gilt Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(612776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(603871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905 |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5639596) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5640469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(873) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$1058804** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| BRL | &nbsp;&nbsp;46699000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;8913790 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/4/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(68863) |
| BRL | &nbsp;&nbsp;5310000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1021773 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21523) |
| BRL | &nbsp;&nbsp;637000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;116486 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;$2925 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;1309000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;245756 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(370) |
| CAD | &nbsp;&nbsp;1965000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1444439 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;7712 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;60000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;44168 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;192 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;44200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49579 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;2382 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;75567000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;85541 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2683 | &nbsp;&nbsp;— |
| CLP | &nbsp;&nbsp;125527000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;142617 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;3936 | &nbsp;&nbsp;— |
| CNH | &nbsp;&nbsp;2502000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;363038 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;650 | &nbsp;&nbsp;— |
| COP | &nbsp;&nbsp;2846869000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;592111 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7852) |
| COP | &nbsp;&nbsp;528200000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;110110 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1709) |
| CZK | &nbsp;&nbsp;3170000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;139004 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1379 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;2754000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;118050 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;3640 | &nbsp;&nbsp;— |
| CZK | &nbsp;&nbsp;1070000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;46094 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;1186 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;830000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30515 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1161 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;4900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;171030 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;2/15/2023 | &nbsp;&nbsp;12203 | &nbsp;&nbsp;— |
| EGP | &nbsp;&nbsp;2420000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;91114 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;6/1/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5384) |
| EUR | &nbsp;&nbsp;5515000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5885826 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;25537 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;171002 | &nbsp;&nbsp;USD | &nbsp;&nbsp;181656 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1636 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;39000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;41322 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;605 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;30000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;32182 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;70 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1646000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2002135 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12847) |
| GBP | &nbsp;&nbsp;29000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;36118 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1033) |
| HUF | &nbsp;&nbsp;30600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;79805 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1336 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;768098000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1999469 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;37281 | &nbsp;&nbsp;— |
| HUF | &nbsp;&nbsp;133756000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;329044 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp;21229 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;2860000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;183569 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;95 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;29730240000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1908476 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;740 | &nbsp;&nbsp;— |
| IDR | &nbsp;&nbsp;9872212000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;630933 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2644 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;404000000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3064186 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;11306 | &nbsp;&nbsp;— |
| KRW | &nbsp;&nbsp;1229517000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;959572 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;13283 | &nbsp;&nbsp;— |
| KZT | &nbsp;&nbsp;47800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;99034 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;2421 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;3990000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;199718 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;3902 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;38048000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1916332 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;25359 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;990000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;49136 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;991 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;4724000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;233784 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;5412 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;4724000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;234366 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;4830 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;13542000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1379473 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1582) |
| NOK | &nbsp;&nbsp;21520000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2185393 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4257 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;5442000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3440351 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;12751 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;250000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;64994 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;390 | &nbsp;&nbsp;— |
| PEN | &nbsp;&nbsp;215000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;55931 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;86 | &nbsp;&nbsp;— |
| PHP | &nbsp;&nbsp;67468000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1221140 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11440) |
| PHP | &nbsp;&nbsp;41655000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;743441 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;3432 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;830000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;188150 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1277 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;551000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;124328 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;1424 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;2757000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;606618 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;20218 | &nbsp;&nbsp;— |
| PLN | &nbsp;&nbsp;130000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;29307 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;250 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 71 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| RON | &nbsp;&nbsp;505000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;109071 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3) |
| RON | &nbsp;&nbsp;2175000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;461834 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;$6560 | &nbsp;&nbsp;— |
| SEK | &nbsp;&nbsp;30048000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2897589 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8495) |
| SGD | &nbsp;&nbsp;45000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;33205 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;404 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;7300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;211616 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(276) |
| THB | &nbsp;&nbsp;23551000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;683232 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;1373 | &nbsp;&nbsp;— |
| THB | &nbsp;&nbsp;5618000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;162393 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;917 | &nbsp;&nbsp;— |
| TRY | &nbsp;&nbsp;3481000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;182184 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(263) |
| TRY | &nbsp;&nbsp;590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;30926 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91) |
| TRY | &nbsp;&nbsp;2255000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;114714 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(558) |
| USD | &nbsp;&nbsp;4260963 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;6386000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(89524) |
| USD | &nbsp;&nbsp;8668364 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;46699000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/4/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(176563) |
| USD | &nbsp;&nbsp;339050 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1799000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;171 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;7750657 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;40279000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;2/2/2023 | &nbsp;&nbsp;163262 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;330984 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;1769000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/2/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(632) |
| USD | &nbsp;&nbsp;5101478 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6940000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27236) |
| USD | &nbsp;&nbsp;43923 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;60000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(437) |
| USD | &nbsp;&nbsp;1997550 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;1843000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2375) |
| USD | &nbsp;&nbsp;354302 | &nbsp;&nbsp;CLP | &nbsp;&nbsp;316002000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(17185) |
| USD | &nbsp;&nbsp;4888344 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;33903000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(23086) |
| USD | &nbsp;&nbsp;360978 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;2502000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2710) |
| USD | &nbsp;&nbsp;192388 | &nbsp;&nbsp;COP | &nbsp;&nbsp;925000000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;2551 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;476251 | &nbsp;&nbsp;COP | &nbsp;&nbsp;2284338000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;7440 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;453260 | &nbsp;&nbsp;COP | &nbsp;&nbsp;2238062000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2124) |
| USD | &nbsp;&nbsp;2246556 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;51325000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26369) |
| USD | &nbsp;&nbsp;12505 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;286000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132) |
| USD | &nbsp;&nbsp;54579 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;1490000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2285) |
| USD | &nbsp;&nbsp;10672559 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10000154 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(46306) |
| USD | &nbsp;&nbsp;24505 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;23000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148) |
| USD | &nbsp;&nbsp;249720 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;236000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3997) |
| USD | &nbsp;&nbsp;85952 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;80000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) |
| USD | &nbsp;&nbsp;39628 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;37000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) |
| USD | &nbsp;&nbsp;148396 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;122000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;952 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;71156 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;58000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;986 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;260250 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;2026000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;400 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;82850 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;31664000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1113) |
| USD | &nbsp;&nbsp;147078 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;56500000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2742) |
| USD | &nbsp;&nbsp;21861 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;8627000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(731) |
| USD | &nbsp;&nbsp;345487 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;5382000000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(134) |
| USD | &nbsp;&nbsp;1938178 | &nbsp;&nbsp;INR | &nbsp;&nbsp;160735000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1872) |
| USD | &nbsp;&nbsp;7384938 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;973673000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27247) |
| USD | &nbsp;&nbsp;424970 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;56578000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5736) |
| USD | &nbsp;&nbsp;843809 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;110300000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4139 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;13247774 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;16974611000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(183394) |
| USD | &nbsp;&nbsp;47173 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;22900000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1432) |
| USD | &nbsp;&nbsp;359614 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;7140000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4759) |
| USD | &nbsp;&nbsp;52451 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;1047000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(563) |
| USD | &nbsp;&nbsp;146828 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;2954000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2745) |
| USD | &nbsp;&nbsp;804267 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1270000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1583) |
| USD | &nbsp;&nbsp;5799665 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;9174000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21495) |
| USD | &nbsp;&nbsp;89325 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;140000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;452 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;116426 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;450000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1264) |
| USD | &nbsp;&nbsp;430020 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;1655000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1186) |
| USD | &nbsp;&nbsp;34513 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;1940000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223) |
| USD | &nbsp;&nbsp;2331997 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;10304000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(19633) |
| USD | &nbsp;&nbsp;18203 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;81000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(214) |
| USD | &nbsp;&nbsp;183513 | &nbsp;&nbsp;RON | &nbsp;&nbsp;850000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66) |
| USD | &nbsp;&nbsp;18243 | &nbsp;&nbsp;RON | &nbsp;&nbsp;85000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62) |
| USD | &nbsp;&nbsp;2149245 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;22278000 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;7231 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;2017957 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2724000 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15263) |
| USD | &nbsp;&nbsp;7412 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;10000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57) |
| USD | &nbsp;&nbsp;89653 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;120000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;28 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;377189 | &nbsp;&nbsp;THB | &nbsp;&nbsp;13030000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39) |
| USD | &nbsp;&nbsp;9655 | &nbsp;&nbsp;THB | &nbsp;&nbsp;330000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;62 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;317223 | &nbsp;&nbsp;TRY | &nbsp;&nbsp;6073000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(158) |
| USD | &nbsp;&nbsp;608705 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;10563000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11072) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 72 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;371282 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;6482000 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(7655) |
| UYU | &nbsp;&nbsp;3270000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;83325 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(958) |
| UYU | &nbsp;&nbsp;2380000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;58570 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;$1379 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;33676000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1960113 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;15803 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;3430000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;196788 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;1/31/2023 | &nbsp;&nbsp;4465 | &nbsp;&nbsp;— |
| ZAR | &nbsp;&nbsp;80000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4691 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;3/15/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$461386** | &nbsp;&nbsp;**$(877012)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### SWAPS

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** | **Interest rate swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | **Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;52320000 | MXN | MXN TIIE Banxico | Fixed 7.840% | Monthly | Monthly | Mar 2027 | &nbsp;&nbsp;&nbsp;$2212 | &nbsp;&nbsp;&nbsp;$(101639) | &nbsp;&nbsp;&nbsp;&nbsp;$(99427) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500000 | NZD | NZD BBR FRA | Fixed 2.660% | Semi-Annual | Quarterly | Mar 2027 | &nbsp;&nbsp;(17150) | &nbsp;&nbsp;&nbsp;&nbsp;(414399) | &nbsp;&nbsp;&nbsp;&nbsp;(431549) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540000 | NZD | NZD BBR FRA | Fixed 2.750% | Semi-Annual | Quarterly | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;5792 | &nbsp;&nbsp;&nbsp;&nbsp;(322680) | &nbsp;&nbsp;&nbsp;&nbsp;(316888) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;783430000 | HUF | HUF BUBOR Reuters | Fixed 5.130% | Annual | Semi-Annual | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp;(417042) | &nbsp;&nbsp;&nbsp;&nbsp;(415840) |
| Centrally cleared | 1433300000 | HUF | HUF BUBOR Reuters | Fixed 5.000% | Annual | Semi-Annual | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp;7686 | &nbsp;&nbsp;&nbsp;&nbsp;(787408) | &nbsp;&nbsp;&nbsp;&nbsp;(779722) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675000 | PLN | Fixed 6.445% | PLN WIBOR WIBO | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12089) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12089) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;141675000 | HUF | HUF BUBOR Reuters | Fixed 11.150% | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675000 | PLN | Fixed 6.463% | PLN WIBOR WIBO | Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12871) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;308390000 | INR | Fixed 6.410% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Dec 2027 | &nbsp;&nbsp;(15441) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11134 |
| Centrally cleared | 3846680000 | KRW | KRW CD KSDA Bloomberg | Fixed 4.320% | Quarterly | Quarterly | Mar 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;106028 | &nbsp;&nbsp;&nbsp;&nbsp;106028 |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;18235000 | SEK | SEK STIBOR SIDE | Fixed 2.920% | Annual | Quarterly | Mar 2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30694) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;17445000 | MXN | MXN TIIE Banxico | Fixed 6.940% | Monthly | Monthly | Sep 2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97805) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98082) |
| Centrally cleared | &nbsp;&nbsp;&nbsp;&nbsp;21005000 | ZAR | ZAR JIBAR SAFEX | Fixed 9.255% | Quarterly | Quarterly | Mar 2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 |
|  |  |  |  |  |  |  |  | **$(15976)** | **$(2063632)** | **$(2079608)** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** | **Credit default swaps - Buyer** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment<br> paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| BARC | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;585000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$585000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2026 | &nbsp;&nbsp;&nbsp;$28358 | &nbsp;&nbsp;&nbsp;$(6577) | &nbsp;&nbsp;&nbsp;$21781 |
| BARC | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;20176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95) | &nbsp;&nbsp;&nbsp;&nbsp;20081 |
| BOA | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;2345000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2345000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;150169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(452) | &nbsp;&nbsp;&nbsp;149717 |
| BOA | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;39828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(244) | &nbsp;&nbsp;&nbsp;&nbsp;39584 |
| CITI | &nbsp;&nbsp;Republic of South Africa | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;41520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(939) | &nbsp;&nbsp;&nbsp;&nbsp;40581 |
| GSI | &nbsp;&nbsp;Federative Republic of Brazil | &nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;61276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(942) | &nbsp;&nbsp;&nbsp;&nbsp;60334 |
| GSI | &nbsp;&nbsp;Republic of Indonesia | &nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1358) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 |
| JPM | &nbsp;&nbsp;United Mexican States | &nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;10221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;11333 |
| MSI | &nbsp;&nbsp;Government of Japan | &nbsp;&nbsp;9570000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;9570000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2024 | &nbsp;&nbsp;(137716) | &nbsp;&nbsp;&nbsp;(28732) | &nbsp;&nbsp;(166448) |
|  |  |  |  | &nbsp;&nbsp;**$16800000** |  |  |  | &nbsp;&nbsp;**$212474** | &nbsp;&nbsp;**$(35168)** | &nbsp;&nbsp;**$177306** |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.38 | &nbsp;&nbsp;&nbsp;&nbsp;831600 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831600 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;(23574) | &nbsp;&nbsp;&nbsp;&nbsp;(18857) |
| Centrally cleared | &nbsp;&nbsp;CDX.EM.38 | &nbsp;&nbsp;7590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;7590000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;440899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;441461 |
| Centrally cleared | &nbsp;&nbsp;CDX.NA.HY.39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32450 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32450 | &nbsp;&nbsp;5.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(550) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;**$8454050** |  |  |  | &nbsp;&nbsp;**$445066** | &nbsp;&nbsp;**$(22727)** | &nbsp;&nbsp;**$422339** |
|  |  |  |  | &nbsp;&nbsp;**$25254050** |  |  |  | &nbsp;&nbsp;**$657540** | &nbsp;&nbsp;**$(57895)** | &nbsp;&nbsp;**$599645** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 73 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** | **Credit default swaps - Seller** |
| **Counterparty<br> (OTC)/<br> Centrally<br> cleared** | **Reference<br> obligation** | **Implied<br> credit<br> spread** | **Notional<br> amount** | **Currency** | **USD<br> notional<br> amount** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Unamortized<br> upfront<br> payment<br> paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally cleared | CDX.NA.HY.39 | 4.832% | 110000 | USD | $110000 | 5.000% | Quarterly | Dec 2027 | $(2695) | $3594 | $899 |
|  |  |  |  |  | **$110000** |  |  |  | **$(2695)** | **$3594** | **$899** |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** | **Total return swaps** |
| **Pay/<br> receive<br> total<br> return\*** | &nbsp;&nbsp;**Reference<br> entity** | &nbsp;&nbsp;**Floating/<br> fixed<br> rate** | &nbsp;&nbsp;**Payment<br> frequency** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Counterparty<br> (OTC)** | &nbsp;&nbsp;**Unamortized<br> upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value** |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;4220000 | &nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;$163229 | &nbsp;&nbsp;$163229 |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;1610000 | &nbsp;&nbsp;Jun 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(58012) | &nbsp;&nbsp;(58012) |
| Pay | &nbsp;&nbsp;iBoxx $ Liquid High Yield Index | &nbsp;&nbsp;1-Day USD Compounded SOFR | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;USD | &nbsp;&nbsp;1560000 | &nbsp;&nbsp;Jun 2023 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;— | &nbsp;&nbsp;(27754) | &nbsp;&nbsp;(27754) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;**—** | &nbsp;&nbsp;**$77463** | &nbsp;&nbsp;**$77463** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

\* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** | **Inflation swaps** |
| **Counterparty (OTC)/<br> Centrally<br> cleared** | **Notional<br> amount** | **Currency** | **USD notional<br> amount** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity date** | **Unamortized<br> upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| BARC | 2970000 | USD | $2970000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | $(5013) | $(5013) |
| BARC | 2990000 | USD | 2990000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | (5047) | (5047) |
| BARC | 5640000 | USD | 5640000 | Fixed 3.147% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | 16446 | 16446 |
| BOA | 640000 | USD | 640000 | Fixed 1.635% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 |  | 160802 | 160802 |
| CITI | 1855000 | USD | 1855000 | Fixed 3.257% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 |  | (4430) | (4430) |
| CITI | 1730000 | USD | 1730000 | Fixed 3.257% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 | $(197) | (3935) | (4132) |
| CITI | 780000 | USD | 780000 | Fixed 2.578% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2051 |  | 32636 | 32636 |
| JPM | 2330000 | USD | 2330000 | Fixed 1.830% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2050 | (54849) | 544898 | 490049 |
|  |  |  | **$18935000** |  |  |  |  |  | **$(55046)** | **$736357** | **$681311** |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 74 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Opportunistic Fixed Income Trust (continued)

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | Pound Sterling |
| HKD | Hong Kong Dollar |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| BARC | Barclays Bank PLC |
| BBR | Bank Bill Rate |
| BOA | Bank of America, N.A. |
| BUBOR | Budapest Interbank Offered Rate |
| CITI | Citibank, N.A. |
| CPI | Consumer Price Index |
| GSI | Goldman Sachs International |
| JIBAR | Johannesburg Interbank Agreed Rate |
| JPM | JPMorgan Chase Bank, N.A. |
| KSDA | Korea Securities Dealers Association |
| MIBOR | Mumbai Interbank Offered Rate |
| MSI | Morgan Stanley & Co. International PLC |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |
| SSB | State Street Bank and Trust Company |
| STIBOR | Stockholm Interbank Offered Rate |
| TIIE | Tasa de Interes Interbancario de Equilibrio (Interbank Equilibrium Interest Rate) |
| WIBOR | Warsaw Interbank Offered Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 75 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 43.2%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 43.2%** |  |
| **U.S. Government – 13.9%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/15/2045 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83239000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62666610 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532801000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438774818 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14554719 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2042 to 11/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192214000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188961563 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8756848 |
| &nbsp;&nbsp;&nbsp;4.125%, 11/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113564000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115888513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829603071 |
| **U.S. Government Agency – 29.3%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62437798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51188086 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/01/2051 to 12/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40046849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34332280 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2043 to 12/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95431990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85821938 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2044 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64877030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60491763 |
| &nbsp;&nbsp;&nbsp;3.500%, 03/01/2052 to 04/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53351614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48855574 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2048 to 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72049994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68278376 |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2037 to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74167613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72201228 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2052 to 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57453860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57006608 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29293577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29715536 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6844863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5624426 |
| &nbsp;&nbsp;&nbsp;2.500%, 12/01/2050 to 03/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223653843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191263286 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2043 to 02/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191278107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170887309 |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2042 to 04/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162939337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151607802 |
| &nbsp;&nbsp;&nbsp;4.000%, 09/01/2040 to 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316735646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303327228 |
| &nbsp;&nbsp;&nbsp;4.500%, TBA (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31975078 |
| &nbsp;&nbsp;&nbsp;4.500%, 07/01/2037 to 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189250006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185002843 |
| &nbsp;&nbsp;&nbsp;4.500%, 01/01/2038 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178739 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59057097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58404922 |
| &nbsp;&nbsp;&nbsp;5.000%, 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12832000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12760342 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26356884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26662413 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/01/2052 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92515693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93796685 |
| Government National Mortgage Association<br> 4.000%, 10/15/2039 to 11/15/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742869709 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,733,452,021) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,733,452,021) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2572472780 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.1%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.1%** |  |
| **Qatar – 0.1%** |  |  |
| State of Qatar<br> 5.103%, 04/23/2048 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8464213 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,410,000) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $8,410,000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8464213 |
| **CORPORATE BONDS – 30.5%** | **CORPORATE BONDS – 30.5%** |  |
| **Communication services – 2.1%** |  |  |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 06/01/2041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9097957 |
| &nbsp;&nbsp;&nbsp;3.650%, 06/01/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9437784 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 03/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12173660 |
| &nbsp;&nbsp;&nbsp;4.800%, 03/01/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12476000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9056940 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16696000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13668851 |
| &nbsp;&nbsp;&nbsp;6.484%, 10/23/2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13673000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12329957 |
| Level 3 Financing, Inc.<br> 3.400%, 03/01/2027 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6456000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5455226 |
| Take-Two Interactive Software, Inc.<br> 3.550%, 04/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4169000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4012076 |
| Telefonica Emisiones SA<br> 5.213%, 03/08/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10891000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8745402 |

---

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| T-Mobile USA, Inc.<br> 3.875%, 04/15/2030 | $13891000 | $&nbsp;&nbsp;&nbsp;12582673 |
| Verizon Communications, Inc.<br> 4.329%, 09/21/2028 | 17379000 | &nbsp;&nbsp;&nbsp;16709627 |
| Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.050%, 03/15/2042 (B) | &nbsp;&nbsp;3145000 | &nbsp;&nbsp;&nbsp;&nbsp;2406184 |
| &nbsp;&nbsp;&nbsp;5.141%, 03/15/2052 (B) | 11218000 | &nbsp;&nbsp;&nbsp;&nbsp;8155109 |
|  |  | 123831446 |
| **Consumer discretionary – 2.7%** |  |  |
| AutoNation, Inc.<br> 4.750%, 06/01/2030 | &nbsp;&nbsp;4925000 | &nbsp;&nbsp;&nbsp;&nbsp;4394060 |
| Booking Holdings, Inc.<br> 4.625%, 04/13/2030 | &nbsp;&nbsp;9246000 | &nbsp;&nbsp;&nbsp;&nbsp;8929587 |
| Choice Hotels International, Inc.<br> 3.700%, 12/01/2029 to 01/15/2031 | 13967000 | &nbsp;&nbsp;&nbsp;12056410 |
| Dollar Tree, Inc.<br> 4.200%, 05/15/2028 | 14391000 | &nbsp;&nbsp;&nbsp;13764408 |
| eBay, Inc.<br> 2.700%, 03/11/2030 | 12556000 | &nbsp;&nbsp;&nbsp;10665945 |
| Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/15/2031 | &nbsp;&nbsp;6373000 | &nbsp;&nbsp;&nbsp;&nbsp;5124729 |
| &nbsp;&nbsp;&nbsp;3.800%, 02/15/2028 | 16524000 | &nbsp;&nbsp;&nbsp;15169000 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2027 | &nbsp;&nbsp;8713000 | &nbsp;&nbsp;&nbsp;&nbsp;8358841 |
| &nbsp;&nbsp;&nbsp;5.000%, 02/15/2026 | &nbsp;&nbsp;8638000 | &nbsp;&nbsp;&nbsp;&nbsp;8523960 |
| General Motors Company<br> 5.400%, 10/15/2029 | &nbsp;&nbsp;8209000 | &nbsp;&nbsp;&nbsp;&nbsp;7833830 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 10/15/2028 | 17219000 | &nbsp;&nbsp;&nbsp;14278098 |
| &nbsp;&nbsp;&nbsp;3.600%, 06/21/2030 | 20346000 | &nbsp;&nbsp;&nbsp;17122430 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 09/17/2024 (B) | &nbsp;&nbsp;8719000 | &nbsp;&nbsp;&nbsp;&nbsp;8055546 |
| &nbsp;&nbsp;&nbsp;1.800%, 10/15/2025 (B) | &nbsp;&nbsp;4018000 | &nbsp;&nbsp;&nbsp;&nbsp;3613862 |
| &nbsp;&nbsp;&nbsp;2.375%, 10/15/2027 (B) | &nbsp;&nbsp;4018000 | &nbsp;&nbsp;&nbsp;&nbsp;3437532 |
| Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 06/15/2030 | &nbsp;&nbsp;5210000 | &nbsp;&nbsp;&nbsp;&nbsp;4861523 |
| &nbsp;&nbsp;&nbsp;4.650%, 12/01/2028 | 13237000 | &nbsp;&nbsp;&nbsp;12709625 |
| Nissan Motor Acceptance Company LLC<br> 1.125%, 09/16/2024 (B) | &nbsp;&nbsp;4380000 | &nbsp;&nbsp;&nbsp;&nbsp;3991076 |
|  |  | 162890462 |
| **Consumer staples – 0.6%** |  |  |
| Anheuser-Busch Companies LLC<br> 4.900%, 02/01/2046 | &nbsp;&nbsp;3282000 | &nbsp;&nbsp;&nbsp;&nbsp;2983585 |
| Anheuser-Busch InBev Worldwide, Inc.<br> 4.600%, 04/15/2048 | &nbsp;&nbsp;5964000 | &nbsp;&nbsp;&nbsp;&nbsp;5182428 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;5.125%, 02/01/2028 (B) | &nbsp;&nbsp;3366000 | &nbsp;&nbsp;&nbsp;&nbsp;3188856 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 (B) | &nbsp;&nbsp;9181000 | &nbsp;&nbsp;&nbsp;&nbsp;8756654 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | 13845000 | &nbsp;&nbsp;&nbsp;11250488 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/04/2042 | &nbsp;&nbsp;3892000 | &nbsp;&nbsp;&nbsp;&nbsp;3520417 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2050 | &nbsp;&nbsp;3446000 | &nbsp;&nbsp;&nbsp;&nbsp;3293330 |
|  |  | &nbsp;&nbsp;&nbsp;38175758 |
| **Energy – 3.2%** |  |  |
| Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 01/15/2025 (B) | &nbsp;&nbsp;6211000 | &nbsp;&nbsp;&nbsp;&nbsp;5889221 |
| &nbsp;&nbsp;&nbsp;3.100%, 07/15/2031 (B) | &nbsp;&nbsp;8003000 | &nbsp;&nbsp;&nbsp;&nbsp;6563447 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/15/2030 (B) | &nbsp;&nbsp;4847000 | &nbsp;&nbsp;&nbsp;&nbsp;4263871 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2031 (B) | 10984000 | &nbsp;&nbsp;&nbsp;&nbsp;9626344 |
| Continental Resources, Inc.<br> 4.900%, 06/01/2044 | &nbsp;&nbsp;4181000 | &nbsp;&nbsp;&nbsp;&nbsp;3099579 |
| Diamondback Energy, Inc.<br> 3.125%, 03/24/2031 | &nbsp;&nbsp;5548000 | &nbsp;&nbsp;&nbsp;&nbsp;4594083 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 76 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.750%, (5.750% to 4-15-30, then 5 Year CMT + 5.314%), 07/15/2080 | $&nbsp;&nbsp;8820000 | $&nbsp;&nbsp;&nbsp;&nbsp;7975202 |
| &nbsp;&nbsp;&nbsp;6.250%, (6.250% to 3-1-28, then 3 month LIBOR + 3.641%), 03/01/2078 | &nbsp;&nbsp;8767000 | &nbsp;&nbsp;&nbsp;&nbsp;7976031 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 04/15/2027 | &nbsp;&nbsp;4899000 | &nbsp;&nbsp;&nbsp;&nbsp;4623226 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2045 | &nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;4469484 |
| &nbsp;&nbsp;&nbsp;5.250%, 04/15/2029 | 17785000 | &nbsp;&nbsp;&nbsp;17197312 |
| &nbsp;&nbsp;&nbsp;5.400%, 10/01/2047 | &nbsp;&nbsp;8136000 | &nbsp;&nbsp;&nbsp;&nbsp;6891659 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2027 | &nbsp;&nbsp;7447000 | &nbsp;&nbsp;&nbsp;&nbsp;7394120 |
| Enterprise Products Operating LLC<br> 5.250%, (5.250% to 8-16-27, then 3 month LIBOR + 3.033%), 08/16/2077 | 12660000 | &nbsp;&nbsp;&nbsp;10182799 |
| EQT Corp.<br> 7.000%, 02/01/2030 | &nbsp;&nbsp;2886000 | &nbsp;&nbsp;&nbsp;&nbsp;2993128 |
| Kinder Morgan Energy Partners LP<br> 7.750%, 03/15/2032 | &nbsp;&nbsp;4555000 | &nbsp;&nbsp;&nbsp;&nbsp;5043484 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 03/15/2028 | &nbsp;&nbsp;6705000 | &nbsp;&nbsp;&nbsp;&nbsp;6236386 |
| &nbsp;&nbsp;&nbsp;4.125%, 03/01/2027 | &nbsp;&nbsp;2551000 | &nbsp;&nbsp;&nbsp;&nbsp;2409450 |
| &nbsp;&nbsp;&nbsp;4.250%, 12/01/2027 | &nbsp;&nbsp;4887000 | &nbsp;&nbsp;&nbsp;&nbsp;4617832 |
| &nbsp;&nbsp;&nbsp;4.950%, 09/01/2032 | &nbsp;&nbsp;3979000 | &nbsp;&nbsp;&nbsp;&nbsp;3731054 |
| Ovintiv, Inc.<br> 7.200%, 11/01/2031 | &nbsp;&nbsp;1177000 | &nbsp;&nbsp;&nbsp;&nbsp;1235384 |
| Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 03/15/2028 | &nbsp;&nbsp;4128000 | &nbsp;&nbsp;&nbsp;&nbsp;3880200 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/15/2030 | 13283000 | &nbsp;&nbsp;&nbsp;12312234 |
| &nbsp;&nbsp;&nbsp;5.000%, 03/15/2027 | &nbsp;&nbsp;7297000 | &nbsp;&nbsp;&nbsp;&nbsp;7154883 |
| Targa Resources Corp.<br> 4.950%, 04/15/2052 | &nbsp;&nbsp;9104000 | &nbsp;&nbsp;&nbsp;&nbsp;7202220 |
| Targa Resources Partners LP<br> 4.000%, 01/15/2032 | &nbsp;&nbsp;7449000 | &nbsp;&nbsp;&nbsp;&nbsp;6267514 |
| The Williams Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 06/15/2027 | &nbsp;&nbsp;9700000 | &nbsp;&nbsp;&nbsp;&nbsp;9130150 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2032 | &nbsp;&nbsp;5495000 | &nbsp;&nbsp;&nbsp;&nbsp;5115316 |
| TransCanada PipeLines, Ltd.<br> 4.250%, 05/15/2028 | &nbsp;&nbsp;6220000 | &nbsp;&nbsp;&nbsp;&nbsp;5887901 |
| Var Energi ASA<br> 8.000%, 11/15/2032 (B) | &nbsp;&nbsp;5570000 | &nbsp;&nbsp;&nbsp;&nbsp;5752238 |
|  |  | 189715752 |
| **Financials – 8.8%** |  |  |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.150%, 07/15/2026 | 11802000 | &nbsp;&nbsp;&nbsp;&nbsp;9992424 |
| &nbsp;&nbsp;&nbsp;2.875%, 06/15/2028 | &nbsp;&nbsp;6780000 | &nbsp;&nbsp;&nbsp;&nbsp;5436401 |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2026 | &nbsp;&nbsp;8615000 | &nbsp;&nbsp;&nbsp;&nbsp;7895225 |
| &nbsp;&nbsp;&nbsp;4.200%, 06/10/2024 | &nbsp;&nbsp;6463000 | &nbsp;&nbsp;&nbsp;&nbsp;6239126 |
| Athene Holding, Ltd.<br> 3.500%, 01/15/2031 | 14028000 | &nbsp;&nbsp;&nbsp;11518317 |
| Banco Santander SA<br> 4.379%, 04/12/2028 | &nbsp;&nbsp;7600000 | &nbsp;&nbsp;&nbsp;&nbsp;7131076 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.087%, (2.087% to 6-14-28, then SOFR + 1.060%), 06/14/2029 | 12755000 | &nbsp;&nbsp;&nbsp;10733257 |
| &nbsp;&nbsp;&nbsp;2.592%, (2.592% to 4-29-30, then SOFR + 2.150%), 04/29/2031 | 12322000 | &nbsp;&nbsp;&nbsp;10035479 |
| &nbsp;&nbsp;&nbsp;2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | 19364000 | &nbsp;&nbsp;&nbsp;15498638 |
| &nbsp;&nbsp;&nbsp;3.248%, 10/21/2027 | &nbsp;&nbsp;9341000 | &nbsp;&nbsp;&nbsp;&nbsp;8624728 |
| &nbsp;&nbsp;&nbsp;3.846%, (3.846% to 3-8-32, then 5 Year CMT + 2.000%), 03/08/2037 | &nbsp;&nbsp;9199000 | &nbsp;&nbsp;&nbsp;&nbsp;7617329 |
| &nbsp;&nbsp;&nbsp;4.271%, (4.271% to 7-23-28, then 3 month LIBOR + 1.310%), 07/23/2029 | 17187000 | &nbsp;&nbsp;&nbsp;16026882 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 11/22/2024 | $&nbsp;&nbsp;7493000 | $&nbsp;&nbsp;&nbsp;6857893 |
| &nbsp;&nbsp;&nbsp;2.700%, 01/15/2025 | &nbsp;&nbsp;5893000 | &nbsp;&nbsp;&nbsp;5444478 |
| &nbsp;&nbsp;&nbsp;3.250%, 03/15/2027 | &nbsp;&nbsp;1690000 | &nbsp;&nbsp;&nbsp;1422915 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2029 | &nbsp;&nbsp;8340000 | &nbsp;&nbsp;&nbsp;6880714 |
| BNP Paribas SA<br> 9.250%, (9.250% to 11-17-27, then 5 Year CMT + 4.969%), 11/17/2027 (B)(C) | &nbsp;&nbsp;2997000 | &nbsp;&nbsp;&nbsp;3124516 |
| BPCE SA<br> 4.500%, 03/15/2025 (B) | &nbsp;&nbsp;7805000 | &nbsp;&nbsp;&nbsp;7496832 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.561%, (2.561% to 5-1-31, then SOFR + 1.167%), 05/01/2032 | &nbsp;&nbsp;5665000 | &nbsp;&nbsp;&nbsp;4472317 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/09/2026 | 17394000 | 17084727 |
| Citizens Financial Group, Inc.<br> 3.250%, 04/30/2030 | 12256000 | 10639131 |
| CNA Financial Corp.<br> 2.050%, 08/15/2030 | &nbsp;&nbsp;4015000 | &nbsp;&nbsp;&nbsp;3161321 |
| CNO Financial Group, Inc.<br> 5.250%, 05/30/2029 | 10165000 | &nbsp;&nbsp;&nbsp;9684241 |
| Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;2.811%, 01/11/2041 (B) | &nbsp;&nbsp;5816000 | &nbsp;&nbsp;&nbsp;3592390 |
| &nbsp;&nbsp;&nbsp;3.250%, 01/14/2030 (B) | 12902000 | 10544907 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;2.311%, (2.311% to 11-16-26, then SOFR + 1.219%), 11/16/2027 | &nbsp;&nbsp;7009000 | &nbsp;&nbsp;&nbsp;5942808 |
| &nbsp;&nbsp;&nbsp;2.552%, (2.552% to 1-7-27, then SOFR + 1.318%), 01/07/2028 | 11487000 | &nbsp;&nbsp;&nbsp;9764462 |
| Discover Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;4.100%, 02/09/2027 | &nbsp;&nbsp;4203000 | &nbsp;&nbsp;&nbsp;3955001 |
| &nbsp;&nbsp;&nbsp;6.700%, 11/29/2032 | &nbsp;&nbsp;7827000 | &nbsp;&nbsp;&nbsp;7955962 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then SOFR + 2.040%), 04/22/2031 | 12793000 | 10468344 |
| &nbsp;&nbsp;&nbsp;2.956%, (2.956% to 5-13-30, then SOFR + 2.515%), 05/13/2031 | 12141000 | 10003647 |
| &nbsp;&nbsp;&nbsp;4.600%, (4.600% to 2-1-25, then SOFR + 3.125%), 02/01/2025 (C) | &nbsp;&nbsp;9375000 | &nbsp;&nbsp;&nbsp;8261719 |
| &nbsp;&nbsp;&nbsp;6.750%, (6.750% to 2-1-24, then 3 month LIBOR + 3.780%), 02/01/2024 (C) | 12306000 | 12258499 |
| Lazard Group LLC<br> 4.375%, 03/11/2029 | &nbsp;&nbsp;7100000 | &nbsp;&nbsp;&nbsp;6555808 |
| M&T Bank Corp.<br> 5.125%, (5.125% to 11-1-26, then 3 month LIBOR + 3.520%), 11/01/2026 (C) | &nbsp;&nbsp;3746000 | &nbsp;&nbsp;&nbsp;3219400 |
| Macquarie Bank, Ltd.<br> 3.624%, 06/03/2030 (B) | &nbsp;&nbsp;6523000 | &nbsp;&nbsp;&nbsp;5272562 |
| MetLife, Inc.<br> 6.400%, (6.400% to 12-15-36, then 3 month LIBOR + 2.205%), 12/15/2036 | &nbsp;&nbsp;7277000 | &nbsp;&nbsp;&nbsp;7037587 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;2.239%, (2.239% to 7-21-31, then SOFR + 1.178%), 07/21/2032 | &nbsp;&nbsp;4486000 | &nbsp;&nbsp;&nbsp;3441632 |
| &nbsp;&nbsp;&nbsp;2.484%, (2.484% to 9-16-31, then SOFR + 1.360%), 09/16/2036 | 14062000 | 10196796 |
| NatWest Group PLC<br> 3.754%, (3.754% to 11-1-24, then 5 Year CMT + 2.100%), 11/01/2029 | &nbsp;&nbsp;4512000 | &nbsp;&nbsp;&nbsp;4184864 |
| NatWest Markets PLC<br> 1.600%, 09/29/2026 (B) | 12231000 | 10620119 |
| New York Life Insurance Company<br> 3.750%, 05/15/2050 (B) | &nbsp;&nbsp;5384000 | &nbsp;&nbsp;&nbsp;4116937 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 77 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Nippon Life Insurance Company |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, (2.750% to 1-21-31, then 5 Year CMT + 2.653%), 01/21/2051 (B) | $13599000 | $&nbsp;&nbsp;&nbsp;10913166 |
| &nbsp;&nbsp;&nbsp;5.100%, (5.100% to 10-16-24, then 5 Year U.S. Swap Rate + 3.650%), 10/16/2044 (B) | &nbsp;&nbsp;5325000 | &nbsp;&nbsp;&nbsp;&nbsp;5202868 |
| Prudential Financial, Inc.<br> 5.125%, (5.125% to 11-28-31, then 5 Year CMT + 3.162%), 03/01/2052 | &nbsp;&nbsp;4543000 | &nbsp;&nbsp;&nbsp;&nbsp;4134130 |
| Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.490%, (2.490% to 1-6-27, then SOFR + 1.249%), 01/06/2028 | &nbsp;&nbsp;7238000 | &nbsp;&nbsp;&nbsp;&nbsp;6210078 |
| &nbsp;&nbsp;&nbsp;3.244%, 10/05/2026 | 16909000 | &nbsp;&nbsp;&nbsp;15692670 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/02/2025 | 15455000 | &nbsp;&nbsp;&nbsp;14726919 |
| &nbsp;&nbsp;&nbsp;4.400%, 07/13/2027 | &nbsp;&nbsp;3574000 | &nbsp;&nbsp;&nbsp;&nbsp;3408415 |
| SBL Holdings, Inc.<br> 5.000%, 02/18/2031 (B) | &nbsp;&nbsp;7908000 | &nbsp;&nbsp;&nbsp;&nbsp;6219004 |
| Societe Generale SA<br> 6.221%, (6.221% to 6-15-32, then 1 Year CMT + 3.200%), 06/15/2033 (B) | &nbsp;&nbsp;4310000 | &nbsp;&nbsp;&nbsp;&nbsp;4031076 |
| Teachers Insurance & Annuity Association of America<br> 4.270%, 05/15/2047 (B) | &nbsp;&nbsp;9222000 | &nbsp;&nbsp;&nbsp;&nbsp;7540506 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.615%, (2.615% to 4-22-31, then SOFR + 1.281%), 04/22/2032 | 23362000 | &nbsp;&nbsp;&nbsp;18630981 |
| &nbsp;&nbsp;&nbsp;2.650%, (2.650% to 10-21-31, then SOFR + 1.264%), 10/21/2032 | &nbsp;&nbsp;9012000 | &nbsp;&nbsp;&nbsp;&nbsp;7115599 |
| The PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, (3.400% to 9-15-26, then 5 Year CMT + 2.595%), 09/15/2026 (C) | 12274000 | &nbsp;&nbsp;&nbsp;&nbsp;9727145 |
| &nbsp;&nbsp;&nbsp;4.850%, (4.850% to 6-1-23, then 3 month LIBOR + 3.040%), 06/01/2023 (C) | &nbsp;&nbsp;4314000 | &nbsp;&nbsp;&nbsp;&nbsp;4065945 |
| &nbsp;&nbsp;&nbsp;8.118%, (3 month LIBOR + 3.678%), 02/01/2023 (C)(D) | 11183000 | &nbsp;&nbsp;&nbsp;11155041 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.393%, (2.393% to 6-2-27, then SOFR + 2.100%), 06/02/2028 | 19183000 | &nbsp;&nbsp;&nbsp;16930700 |
| &nbsp;&nbsp;&nbsp;2.879%, (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%), 10/30/2030 | 14423000 | &nbsp;&nbsp;&nbsp;12250963 |
| &nbsp;&nbsp;&nbsp;3.068%, (3.068% to 4-30-40, then SOFR + 2.530%), 04/30/2041 | &nbsp;&nbsp;9762000 | &nbsp;&nbsp;&nbsp;&nbsp;6963142 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then SOFR + 1.500%), 03/02/2033 | &nbsp;&nbsp;6720000 | &nbsp;&nbsp;&nbsp;&nbsp;5660913 |
| &nbsp;&nbsp;&nbsp;5.875%, (5.875% to 6-15-25, then 3 month LIBOR + 3.990%), 06/15/2025 (C) | 22240000 | &nbsp;&nbsp;&nbsp;21461600 |
|  |  | 522452272 |
| **Health care – 1.6%** |  |  |
| AbbVie, Inc.<br> 3.200%, 11/21/2029 | 21219000 | &nbsp;&nbsp;&nbsp;19128377 |
| AmerisourceBergen Corp.<br> 2.800%, 05/15/2030 | &nbsp;&nbsp;9144000 | &nbsp;&nbsp;&nbsp;&nbsp;7755831 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;4269000 | &nbsp;&nbsp;&nbsp;&nbsp;4129159 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;7278000 | &nbsp;&nbsp;&nbsp;&nbsp;6532332 |
| Fresenius Medical Care US Finance<br> III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 02/16/2031 (B) | 13464000 | &nbsp;&nbsp;&nbsp;&nbsp;9874295 |
| &nbsp;&nbsp;&nbsp;3.750%, 06/15/2029 (B) | 12965000 | &nbsp;&nbsp;&nbsp;10977857 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| HCA, Inc.<br> 4.125%, 06/15/2029 | $13127000 | $11983522 |
| Royalty Pharma PLC<br> 1.750%, 09/02/2027 | &nbsp;&nbsp;4117000 | &nbsp;&nbsp;&nbsp;3484602 |
| Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 09/01/2026 | &nbsp;&nbsp;7142000 | &nbsp;&nbsp;&nbsp;6120408 |
| &nbsp;&nbsp;&nbsp;2.650%, 10/15/2030 | &nbsp;&nbsp;7813000 | &nbsp;&nbsp;&nbsp;6218156 |
| Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/22/2027 | &nbsp;&nbsp;4139000 | &nbsp;&nbsp;&nbsp;3536568 |
| &nbsp;&nbsp;&nbsp;2.700%, 06/22/2030 | &nbsp;&nbsp;5951000 | &nbsp;&nbsp;&nbsp;4652696 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/22/2050 | &nbsp;&nbsp;6862000 | &nbsp;&nbsp;&nbsp;4227938 |
|  |  | 98621741 |
| **Industrials – 4.8%** |  |  |
| Adani Ports & Special Economic Zone, Ltd.<br> 3.100%, 02/02/2031 (B) | &nbsp;&nbsp;6679000 | &nbsp;&nbsp;&nbsp;4896497 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 10/29/2024 | &nbsp;&nbsp;3938000 | &nbsp;&nbsp;&nbsp;3632412 |
| &nbsp;&nbsp;&nbsp;1.750%, 01/30/2026 | &nbsp;&nbsp;9702000 | &nbsp;&nbsp;&nbsp;8535641 |
| &nbsp;&nbsp;&nbsp;2.450%, 10/29/2026 | 24766000 | 21656423 |
| &nbsp;&nbsp;&nbsp;2.875%, 08/14/2024 | &nbsp;&nbsp;9926000 | &nbsp;&nbsp;&nbsp;9397778 |
| Air Canada 2013-1 Class A Pass Through Trust<br> 4.125%, 05/15/2025 (B) | &nbsp;&nbsp;2482767 | &nbsp;&nbsp;&nbsp;2268478 |
| Air Canada 2017-1 Class B Pass Through Trust<br> 3.700%, 01/15/2026 (B) | &nbsp;&nbsp;3443915 | &nbsp;&nbsp;&nbsp;3069091 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 09/01/2028 | &nbsp;&nbsp;4481000 | &nbsp;&nbsp;&nbsp;3649762 |
| &nbsp;&nbsp;&nbsp;2.875%, 01/15/2026 | &nbsp;&nbsp;4391000 | &nbsp;&nbsp;&nbsp;4062797 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/01/2027 | &nbsp;&nbsp;4932000 | &nbsp;&nbsp;&nbsp;4461168 |
| Alaska Airlines 2020-1 Class B Pass Through Trust<br> 8.000%, 08/15/2025 (B) | &nbsp;&nbsp;5006149 | &nbsp;&nbsp;&nbsp;5007183 |
| American Airlines 2016-1 Class A Pass Through Trust<br> 4.100%, 01/15/2028 | &nbsp;&nbsp;7444352 | &nbsp;&nbsp;&nbsp;6039298 |
| American Airlines 2016-1 Class AA Pass Through Trust<br> 3.575%, 01/15/2028 | &nbsp;&nbsp;6518712 | &nbsp;&nbsp;&nbsp;5785725 |
| American Airlines 2017-1 Class A Pass Through Trust<br> 4.000%, 02/15/2029 | &nbsp;&nbsp;4956481 | &nbsp;&nbsp;&nbsp;3801468 |
| American Airlines 2017-1 Class AA Pass Through Trust<br> 3.650%, 02/15/2029 | &nbsp;&nbsp;5697569 | &nbsp;&nbsp;&nbsp;5023231 |
| American Airlines 2017-2 Class A Pass Through Trust<br> 3.600%, 10/15/2029 | &nbsp;&nbsp;4323103 | &nbsp;&nbsp;&nbsp;3350245 |
| American Airlines 2019-1 Class A Pass Through Trust<br> 3.500%, 02/15/2032 | &nbsp;&nbsp;4555541 | &nbsp;&nbsp;&nbsp;3300670 |
| American Airlines 2019-1 Class AA Pass Through Trust<br> 3.150%, 02/15/2032 | &nbsp;&nbsp;6824668 | &nbsp;&nbsp;&nbsp;5646379 |
| American Airlines 2021-1 Class A Pass Through Trust<br> 2.875%, 07/11/2034 | &nbsp;&nbsp;4290000 | &nbsp;&nbsp;&nbsp;3434232 |
| Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 08/12/2026 (B) | &nbsp;&nbsp;4620000 | &nbsp;&nbsp;&nbsp;3942666 |
| &nbsp;&nbsp;&nbsp;4.250%, 11/01/2029 (B) | &nbsp;&nbsp;2302000 | &nbsp;&nbsp;&nbsp;2063360 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/11/2032 (B) | &nbsp;&nbsp;6391000 | &nbsp;&nbsp;&nbsp;6112795 |
| British Airways 2013-1 Class A Pass Through Trust<br> 4.625%, 06/20/2024 (B) | &nbsp;&nbsp;2009818 | &nbsp;&nbsp;&nbsp;1961577 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 78 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| British Airways 2018-1 Class A Pass Through Trust<br> 4.125%, 09/20/2031 (B) | $&nbsp;&nbsp;1412167 | $&nbsp;&nbsp;&nbsp;&nbsp;1208750 |
| British Airways 2020-1 Class A Pass Through Trust<br> 4.250%, 11/15/2032 (B) | &nbsp;&nbsp;2389474 | &nbsp;&nbsp;&nbsp;&nbsp;2176723 |
| British Airways 2020-1 Class B Pass Through Trust<br> 8.375%, 11/15/2028 (B) | &nbsp;&nbsp;3096413 | &nbsp;&nbsp;&nbsp;&nbsp;3050815 |
| CoStar Group, Inc.<br> 2.800%, 07/15/2030 (B) | 10366000 | &nbsp;&nbsp;&nbsp;&nbsp;8465805 |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (B) | 11546000 | &nbsp;&nbsp;&nbsp;10218210 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.900%, 10/28/2024 | &nbsp;&nbsp;9350000 | &nbsp;&nbsp;&nbsp;&nbsp;8857987 |
| &nbsp;&nbsp;&nbsp;4.375%, 04/19/2028 | &nbsp;&nbsp;9405000 | &nbsp;&nbsp;&nbsp;&nbsp;8382057 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/20/2025 (B) | &nbsp;&nbsp;2059000 | &nbsp;&nbsp;&nbsp;&nbsp;2008723 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/20/2028 (B) | &nbsp;&nbsp;6536678 | &nbsp;&nbsp;&nbsp;&nbsp;6144302 |
| Huntington Ingalls Industries, Inc.<br> 4.200%, 05/01/2030 | &nbsp;&nbsp;5206000 | &nbsp;&nbsp;&nbsp;&nbsp;4725108 |
| JetBlue 2019-1 Class AA Pass Through Trust<br> 2.750%, 05/15/2032 | &nbsp;&nbsp;6820526 | &nbsp;&nbsp;&nbsp;&nbsp;5595087 |
| Owens Corning<br> 3.950%, 08/15/2029 | &nbsp;&nbsp;8341000 | &nbsp;&nbsp;&nbsp;&nbsp;7580768 |
| SMBC Aviation Capital Finance DAC<br> 2.300%, 06/15/2028 (B) | &nbsp;&nbsp;3894000 | &nbsp;&nbsp;&nbsp;&nbsp;3193045 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 03/01/2029 | &nbsp;&nbsp;4360000 | &nbsp;&nbsp;&nbsp;&nbsp;3823240 |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | 12923000 | &nbsp;&nbsp;&nbsp;12780557 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | 17787000 | &nbsp;&nbsp;&nbsp;17353696 |
| United Airlines 2014-2 Class A Pass Through Trust<br> 3.750%, 09/03/2026 | &nbsp;&nbsp;9238781 | &nbsp;&nbsp;&nbsp;&nbsp;8381454 |
| United Airlines 2016-1 Class A Pass Through Trust<br> 3.450%, 07/07/2028 | &nbsp;&nbsp;8312128 | &nbsp;&nbsp;&nbsp;&nbsp;6858665 |
| United Airlines 2016-1 Class B Pass Through Trust<br> 3.650%, 01/07/2026 | &nbsp;&nbsp;7789844 | &nbsp;&nbsp;&nbsp;&nbsp;6963066 |
| United Airlines 2018-1 Class B Pass Through Trust<br> 4.600%, 03/01/2026 | &nbsp;&nbsp;2351985 | &nbsp;&nbsp;&nbsp;&nbsp;2148884 |
| United Airlines 2019-1 Class A Pass Through Trust<br> 4.550%, 08/25/2031 | &nbsp;&nbsp;6262550 | &nbsp;&nbsp;&nbsp;&nbsp;5233254 |
| United Airlines 2020-1 Class A Pass Through Trust<br> 5.875%, 10/15/2027 | 14871062 | &nbsp;&nbsp;&nbsp;14649484 |
| United Airlines 2020-1 Class B Pass Through Trust<br> 4.875%, 01/15/2026 | &nbsp;&nbsp;3438906 | &nbsp;&nbsp;&nbsp;&nbsp;3236648 |
| US Airways 2010-1 Class A Pass Through Trust<br> 6.250%, 04/22/2023 | &nbsp;&nbsp;1237619 | &nbsp;&nbsp;&nbsp;&nbsp;1219499 |
| US Airways 2012-1 Class A Pass Through Trust<br> 5.900%, 10/01/2024 | &nbsp;&nbsp;6017651 | &nbsp;&nbsp;&nbsp;&nbsp;5771566 |
| US Airways 2012-2 Class A Pass Through Trust<br> 4.625%, 06/03/2025 | &nbsp;&nbsp;3244692 | &nbsp;&nbsp;&nbsp;&nbsp;2963894 |
|  |  | 284090163 |
| **Information technology – 3.4%** |  |  |
| Autodesk, Inc.<br> 2.850%, 01/15/2030 | &nbsp;&nbsp;4681000 | &nbsp;&nbsp;&nbsp;&nbsp;4023896 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.419%, 04/15/2033 (B) | $11115000 | $&nbsp;&nbsp;&nbsp;&nbsp;8910981 |
| &nbsp;&nbsp;&nbsp;4.750%, 04/15/2029 | 25279000 | &nbsp;&nbsp;&nbsp;24078754 |
| &nbsp;&nbsp;&nbsp;4.926%, 05/15/2037 (B) | &nbsp;&nbsp;4669000 | &nbsp;&nbsp;&nbsp;&nbsp;4073073 |
| CGI, Inc.<br> 1.450%, 09/14/2026 | &nbsp;&nbsp;8030000 | &nbsp;&nbsp;&nbsp;&nbsp;7101477 |
| Dell International LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.900%, 10/01/2026 | 12456000 | &nbsp;&nbsp;&nbsp;12260430 |
| &nbsp;&nbsp;&nbsp;5.300%, 10/01/2029 | &nbsp;&nbsp;6177000 | &nbsp;&nbsp;&nbsp;&nbsp;6041119 |
| Flex, Ltd.<br> 6.000%, 01/15/2028 | &nbsp;&nbsp;9336000 | &nbsp;&nbsp;&nbsp;&nbsp;9315727 |
| KLA Corp.<br> 4.100%, 03/15/2029 | &nbsp;&nbsp;7616000 | &nbsp;&nbsp;&nbsp;&nbsp;7348284 |
| Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.185%, 02/15/2027 | 14953000 | &nbsp;&nbsp;&nbsp;14157462 |
| &nbsp;&nbsp;&nbsp;5.327%, 02/06/2029 | 19168000 | &nbsp;&nbsp;&nbsp;18399731 |
| Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 11/15/2030 | 11690000 | &nbsp;&nbsp;&nbsp;&nbsp;9141029 |
| &nbsp;&nbsp;&nbsp;2.750%, 05/24/2031 | &nbsp;&nbsp;9922000 | &nbsp;&nbsp;&nbsp;&nbsp;7933055 |
| &nbsp;&nbsp;&nbsp;4.600%, 05/23/2029 | &nbsp;&nbsp;3233000 | &nbsp;&nbsp;&nbsp;&nbsp;3076935 |
| NXP BV<br> 3.875%, 06/18/2026 | 12831000 | &nbsp;&nbsp;&nbsp;12188721 |
| Oracle Corp.<br> 2.950%, 04/01/2030 | 18106000 | &nbsp;&nbsp;&nbsp;15437217 |
| Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.750%, 12/15/2024 (B) | &nbsp;&nbsp;6016000 | &nbsp;&nbsp;&nbsp;&nbsp;5540435 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2031 (B) | &nbsp;&nbsp;5277000 | &nbsp;&nbsp;&nbsp;&nbsp;4239748 |
| Renesas Electronics Corp.<br> 1.543%, 11/26/2024 (B) | &nbsp;&nbsp;6826000 | &nbsp;&nbsp;&nbsp;&nbsp;6258137 |
| VeriSign, Inc.<br> 2.700%, 06/15/2031 | &nbsp;&nbsp;4203000 | &nbsp;&nbsp;&nbsp;&nbsp;3422992 |
| VMware, Inc.<br> 4.700%, 05/15/2030 | 12282000 | &nbsp;&nbsp;&nbsp;11424901 |
| Western Digital Corp.<br> 4.750%, 02/15/2026 | &nbsp;&nbsp;8529000 | &nbsp;&nbsp;&nbsp;&nbsp;8031930 |
|  |  | 202406034 |
| **Materials – 0.5%** |  |  |
| Anglo American Capital PLC<br> 4.750%, 04/10/2027 (B) | &nbsp;&nbsp;4433000 | &nbsp;&nbsp;&nbsp;&nbsp;4284457 |
| Braskem Netherlands Finance BV<br> 5.875%, 01/31/2050 (B) | &nbsp;&nbsp;7579000 | &nbsp;&nbsp;&nbsp;&nbsp;5871197 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 03/01/2030 | &nbsp;&nbsp;7941000 | &nbsp;&nbsp;&nbsp;&nbsp;7209716 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | &nbsp;&nbsp;9268000 | &nbsp;&nbsp;&nbsp;&nbsp;8360107 |
| Newmont Corp.<br> 2.800%, 10/01/2029 | &nbsp;&nbsp;3137000 | &nbsp;&nbsp;&nbsp;&nbsp;2666873 |
|  |  | &nbsp;&nbsp;&nbsp;28392350 |
| **Real estate – 1.6%** |  |  |
| American Homes 4 Rent LP<br> 4.250%, 02/15/2028 | &nbsp;&nbsp;4327000 | &nbsp;&nbsp;&nbsp;&nbsp;4001011 |
| American Tower Corp.<br> 3.800%, 08/15/2029 | 12035000 | &nbsp;&nbsp;&nbsp;10917830 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 09/01/2027 | 11831000 | &nbsp;&nbsp;&nbsp;10989075 |
| &nbsp;&nbsp;&nbsp;3.800%, 02/15/2028 | &nbsp;&nbsp;4658000 | &nbsp;&nbsp;&nbsp;&nbsp;4328989 |
| Equinix, Inc.<br> 1.800%, 07/15/2027 | &nbsp;&nbsp;4533000 | &nbsp;&nbsp;&nbsp;&nbsp;3880004 |
| GLP Capital LP |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2032 | &nbsp;&nbsp;3361000 | &nbsp;&nbsp;&nbsp;&nbsp;2686732 |
| &nbsp;&nbsp;&nbsp;4.000%, 01/15/2030 | &nbsp;&nbsp;3326000 | &nbsp;&nbsp;&nbsp;&nbsp;2912958 |
| &nbsp;&nbsp;&nbsp;5.375%, 04/15/2026 | &nbsp;&nbsp;5262000 | &nbsp;&nbsp;&nbsp;&nbsp;5162375 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 12/15/2029 | 10874000 | &nbsp;&nbsp;&nbsp;&nbsp;9090409 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2030 | &nbsp;&nbsp;4750000 | &nbsp;&nbsp;&nbsp;&nbsp;3920023 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/15/2025 | 13557000 | &nbsp;&nbsp;&nbsp;13026992 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 79 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| Host Hotels & Resorts LP (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2026 | $&nbsp;&nbsp;4859000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4655891 |
| SBA Tower Trust |  |  |
| &nbsp;&nbsp;&nbsp;2.836%, 01/15/2025 (B) | &nbsp;&nbsp;7899000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7444942 |
| &nbsp;&nbsp;&nbsp;6.599%, 01/15/2028 (B) | &nbsp;&nbsp;2536000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539973 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2030 (B) | &nbsp;&nbsp;2123000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857975 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2025 | &nbsp;&nbsp;2868000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781467 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2029 (B) | &nbsp;&nbsp;4089000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720990 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;1733000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604671 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;95522307 |
| **Utilities – 1.2%** |  |  |
| AES Panama Generation Holdings SRL<br> 4.375%, 05/31/2030 (B) | &nbsp;&nbsp;5952000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170502 |
| Atlantica Transmision Sur SA<br> 6.875%, 04/30/2043 (B) | &nbsp;&nbsp;2509647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268093 |
| Dominion Energy, Inc.<br> 3.375%, 04/01/2030 | &nbsp;&nbsp;6792000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985221 |
| Emera US Finance LP<br> 3.550%, 06/15/2026 | &nbsp;&nbsp;6192000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800047 |
| NextEra Energy Capital Holdings, Inc.<br> 2.250%, 06/01/2030 | &nbsp;&nbsp;3071000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525434 |
| NiSource, Inc.<br> 3.600%, 05/01/2030 | &nbsp;&nbsp;4887000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4351483 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.450%, 12/02/2027 (B) | &nbsp;&nbsp;7276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6028565 |
| &nbsp;&nbsp;&nbsp;4.450%, 06/15/2029 (B) | &nbsp;&nbsp;5451000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4820583 |
| Vistra Operations Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.550%, 07/15/2024 (B) | 12479000 | &nbsp;&nbsp;&nbsp;&nbsp;11968117 |
| &nbsp;&nbsp;&nbsp;3.700%, 01/30/2027 (B) | 13509000 | &nbsp;&nbsp;&nbsp;&nbsp;12317799 |
| &nbsp;&nbsp;&nbsp;4.300%, 07/15/2029 (B) | 11729000 | &nbsp;&nbsp;&nbsp;&nbsp;10566009 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;71801853 |
| TOTAL CORPORATE BONDS (Cost $2,094,576,743) |  | $1817900138 |
| **MUNICIPAL BONDS – 0.9%** |  |  |
| Foothill-Eastern Transportation Corridor Agency (California)<br> 4.094%, 01/15/2049 | &nbsp;&nbsp;8396000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6340181 |
| Golden State Tobacco Securitization Corp. (California)<br> 4.214%, 06/01/2050 | &nbsp;&nbsp;4975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3879613 |
| Maryland Health & Higher Educational Facilities Authority<br> 3.197%, 07/01/2050 | 14500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9491677 |
| Mississippi Hospital Equipment & Facilities Authority<br> 3.720%, 09/01/2026 | &nbsp;&nbsp;7677000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7220338 |
| New Jersey Transportation Trust<br> Fund Authority |  |  |
| &nbsp;&nbsp;&nbsp;4.081%, 06/15/2039 | &nbsp;&nbsp;9117000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7540219 |
| &nbsp;&nbsp;&nbsp;4.131%, 06/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634541 |
| Ohio Turnpike & Infrastructure Commission<br> 3.216%, 02/15/2048 | &nbsp;&nbsp;6950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4954203 |
| Regents of the University of California Medical Center Pooled Revenue<br> 3.006%, 05/15/2050 | 14500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9575630 |
| State Board of Administration Finance Corp. (Florida)<br> 1.705%, 07/01/2027 | &nbsp;&nbsp;5122000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459561 |
| TOTAL MUNICIPAL BONDS (Cost $72,592,891) | TOTAL MUNICIPAL BONDS (Cost $72,592,891) | $&nbsp;&nbsp;&nbsp;&nbsp;54095963 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 10.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 10.6%** |  |
| **Commercial and residential – 8.2%** |  |  |
| Angel Oak Mortgage Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-R1, Class A1,<br> 0.990%, 04/25/2053 (B)(E) | $&nbsp;&nbsp;3061090 | $&nbsp;&nbsp;&nbsp;2847487 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.985%, 04/25/2066 (B)(E) | &nbsp;&nbsp;2520185 | &nbsp;&nbsp;&nbsp;2068534 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 1.035%, 01/20/2065 (B)(E) | &nbsp;&nbsp;5566751 | &nbsp;&nbsp;&nbsp;4377673 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 0.951%, 07/25/2066 (B)(E) | &nbsp;&nbsp;6950097 | &nbsp;&nbsp;&nbsp;5669081 |
| Arroyo Mortgage Trust<br> Series 2021-1R, Class A1<br> 1.175%, 10/25/2048 (B)(E) | &nbsp;&nbsp;4478641 | &nbsp;&nbsp;&nbsp;3515961 |
| BAMLL Commercial Mortgage Securities Trust<br> Series 2015-200P, Class A<br> 3.218%, 04/14/2033 (B) | &nbsp;&nbsp;5706000 | &nbsp;&nbsp;&nbsp;5285631 |
| BBCMS Mortgage Trust<br> Series 2020-C6, Class A2<br> 2.690%, 02/15/2053 | &nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;4431513 |
| BOCA Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BOCA, Class A (1 month CME Term SOFR + 1.770%),<br> 6.105%, 05/15/2039 (B)(D) | &nbsp;&nbsp;5954000 | &nbsp;&nbsp;&nbsp;5833870 |
| &nbsp;&nbsp;&nbsp;Series 2022-BOCA, Class B (1 month CME Term SOFR + 2.319%),<br> 6.655%, 05/15/2039 (B)(D) | &nbsp;&nbsp;2231000 | &nbsp;&nbsp;&nbsp;2148891 |
| BPR Trust<br> Series 2022-OANA, Class A (1 month CME Term SOFR + 1.898%)<br> 6.234%, 04/15/2037 (B)(D) | 16875000 | 16469951 |
| BRAVO Residential Funding Trust<br> Series 2021-NQM1, Class A1<br> 0.941%, 02/25/2049 (B)(E) | &nbsp;&nbsp;3134037 | &nbsp;&nbsp;&nbsp;2597727 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-VKNG, Class A (1 month CME Term SOFR + 1.044%),<br> 5.380%, 10/15/2037 (B)(D) | &nbsp;&nbsp;5770164 | &nbsp;&nbsp;&nbsp;5630688 |
| &nbsp;&nbsp;&nbsp;Series 2021-ACNT, Class A (1 month LIBOR + 0.850%),<br> 5.168%, 11/15/2038 (B)(D) | &nbsp;&nbsp;5198000 | &nbsp;&nbsp;&nbsp;5000524 |
| &nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A (1 month LIBOR + 0.921%),<br> 5.239%, 12/15/2038 (B)(D) | 14619000 | 14105736 |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class C (1 month LIBOR + 1.100%),<br> 5.418%, 09/15/2036 (B)(D) | &nbsp;&nbsp;7399000 | &nbsp;&nbsp;&nbsp;6947654 |
| &nbsp;&nbsp;&nbsp;Series 2022-AHP, Class A (1 month CME Term SOFR + 0.990%),<br> 5.326%, 01/17/2039 (B)(D) | 12523000 | 11984481 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MFM1, Class D (1 month LIBOR + 1.500%),<br> 5.818%, 01/15/2034 (B)(D) | &nbsp;&nbsp;2927000 | &nbsp;&nbsp;&nbsp;2751594 |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (B) | &nbsp;&nbsp;5805000 | &nbsp;&nbsp;&nbsp;5681888 |
| BXHPP Trust<br> Series 2021-FILM, Class C (1 month LIBOR + 1.100%)<br> 5.418%, 08/15/2036 (B)(D) | 17743000 | 15959520 |
| CAMB Commercial Mortgage Trust<br> Series 2019-LIFE, Class D (1 month LIBOR + 1.750%)<br> 6.068%, 12/15/2037 (B)(D) | &nbsp;&nbsp;1944000 | &nbsp;&nbsp;&nbsp;1875632 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 80 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Cantor Commercial Real Estate Lending<br> Series 2019-CF1, Class A2<br> 3.623%, 05/15/2052 | $11754000 | $11406743 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-SMRT, Class A,<br> 4.149%, 01/10/2036 (B) | &nbsp;&nbsp;3645000 | &nbsp;&nbsp;&nbsp;3553948 |
| &nbsp;&nbsp;&nbsp;Series 2020-GC46, Class A2,<br> 2.708%, 02/15/2053 | 13170000 | 12363856 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.924%, 08/25/2066 (B)(E) | &nbsp;&nbsp;6049966 | &nbsp;&nbsp;&nbsp;4773012 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 0.956%, 09/27/2066 (B)(E) | &nbsp;&nbsp;8227947 | &nbsp;&nbsp;&nbsp;6360645 |
| &nbsp;&nbsp;&nbsp;Series 2021-HX1, Class A1,<br> 1.110%, 10/25/2066 (B)(E) | &nbsp;&nbsp;6664073 | &nbsp;&nbsp;&nbsp;5316715 |
| COLT Trust<br> Series 2020-RPL1, Class A1<br> 1.390%, 01/25/2065 (B)(E) | &nbsp;&nbsp;9973004 | &nbsp;&nbsp;&nbsp;8452230 |
| Commercial Mortgage Trust (Cantor Fitzgerald/Deutsche Bank AG)<br> Series 2020-CX, Class D<br> 2.683%, 11/10/2046 (B)(E) | &nbsp;&nbsp;4291000 | &nbsp;&nbsp;&nbsp;2960457 |
| Commercial Mortgage Trust (Deutsche Bank AG)<br> Series 2020-CBM, Class A2<br> 2.896%, 02/10/2037 (B) | &nbsp;&nbsp;5531000 | &nbsp;&nbsp;&nbsp;5096928 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-ICE4, Class B (1 month LIBOR + 1.230%),<br> 5.548%, 05/15/2036 (B)(D) | &nbsp;&nbsp;3979000 | &nbsp;&nbsp;&nbsp;3908699 |
| &nbsp;&nbsp;&nbsp;Series 2019-ICE4, Class D (1 month LIBOR + 1.600%),<br> 5.918%, 05/15/2036 (B)(D) | &nbsp;&nbsp;5837000 | &nbsp;&nbsp;&nbsp;5715630 |
| &nbsp;&nbsp;&nbsp;Series 2020-NET, Class A,<br> 2.257%, 08/15/2037 (B) | &nbsp;&nbsp;2185285 | &nbsp;&nbsp;&nbsp;1951971 |
| &nbsp;&nbsp;&nbsp;Series 2021-AFC1, Class A1,<br> 0.830%, 03/25/2056 (B)(E) | 10847866 | &nbsp;&nbsp;&nbsp;8382568 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.179%, 02/25/2066 (B)(E) | &nbsp;&nbsp;4375702 | &nbsp;&nbsp;&nbsp;3623502 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.015%, 04/25/2066 (B)(E) | &nbsp;&nbsp;4026175 | &nbsp;&nbsp;&nbsp;3165514 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM5, Class A1,<br> 0.938%, 05/25/2066 (B)(E) | &nbsp;&nbsp;4084901 | &nbsp;&nbsp;&nbsp;3150860 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM6, Class A1,<br> 1.174%, 07/25/2066 (B)(E) | &nbsp;&nbsp;6782206 | &nbsp;&nbsp;&nbsp;5270175 |
| &nbsp;&nbsp;&nbsp;Series 2021-RPL2, Class A1A,<br> 1.115%, 01/25/2060 (B)(E) | 11596291 | &nbsp;&nbsp;&nbsp;9240064 |
| DBJPM Mortgage Trust<br> Series 2020-C9, Class A2<br> 1.900%, 08/15/2053 | &nbsp;&nbsp;8970000 | &nbsp;&nbsp;&nbsp;8183782 |
| Deephaven Residential Mortgage Trust<br> Series 2021-2, Class A1<br> 0.899%, 04/25/2066 (B)(E) | &nbsp;&nbsp;6198001 | &nbsp;&nbsp;&nbsp;5209104 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.797%, 02/25/2066 (B)(E) | &nbsp;&nbsp;2045110 | &nbsp;&nbsp;&nbsp;1667838 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.931%, 06/25/2066 (B)(E) | &nbsp;&nbsp;4774687 | &nbsp;&nbsp;&nbsp;3672451 |
| Flagstar Mortgage Trust<br> Series 2021-1, Class A2<br> 2.500%, 02/01/2051 (B)(E) | &nbsp;&nbsp;9627761 | &nbsp;&nbsp;&nbsp;7740190 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 0.874%, 01/25/2066 (B)(E) | $&nbsp;&nbsp;3415805 | $&nbsp;&nbsp;&nbsp;2867402 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.036%, 05/25/2066 (B)(E) | &nbsp;&nbsp;3383501 | &nbsp;&nbsp;&nbsp;2629643 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.091%, 05/25/2066 (B)(E) | &nbsp;&nbsp;5522765 | &nbsp;&nbsp;&nbsp;4392291 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-GC40, Class A2,<br> 2.971%, 07/10/2052 | &nbsp;&nbsp;6505000 | &nbsp;&nbsp;&nbsp;6249446 |
| &nbsp;&nbsp;&nbsp;Series 2020-UPTN, Class A,<br> 2.751%, 02/10/2037 (B) | &nbsp;&nbsp;5820000 | &nbsp;&nbsp;&nbsp;5315233 |
| &nbsp;&nbsp;&nbsp;Series 2021-STAR, Class A (1 month LIBOR + 0.950%),<br> 5.268%, 12/15/2036 (B)(D) | 13304000 | 12767524 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class A1,<br> 1.382%, 09/27/2060 (B)(E) | &nbsp;&nbsp;1159814 | &nbsp;&nbsp;&nbsp;1010683 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1,<br> 1.017%, 07/25/2061 (B)(E) | &nbsp;&nbsp;2388303 | &nbsp;&nbsp;&nbsp;1958811 |
| Imperial Fund Mortgage Trust<br> Series 2021-NQM1, Class A1<br> 1.071%, 06/25/2056 (B)(E) | &nbsp;&nbsp;3298264 | &nbsp;&nbsp;&nbsp;2662495 |
| InTown Mortgage Trust<br> Series 2022-STAY, Class A (1 month CME Term SOFR + 2.489%)<br> 6.825%, 08/15/2039 (B)(D) | &nbsp;&nbsp;9705000 | &nbsp;&nbsp;&nbsp;9641186 |
| Irvine Core Office Trust<br> Series 2013-IRV, Class A2<br> 3.173%, 05/15/2048 (B)(E) | &nbsp;&nbsp;6620000 | &nbsp;&nbsp;&nbsp;6543802 |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2022-OPO, Class A<br> 3.024%, 01/05/2039 (B) | &nbsp;&nbsp;6678000 | &nbsp;&nbsp;&nbsp;5704542 |
| KNDL Mortgage Trust<br> Series 2019-KNSQ, Class C (1 month LIBOR + 1.050%)<br> 5.368%, 05/15/2036 (B)(D) | &nbsp;&nbsp;8981000 | &nbsp;&nbsp;&nbsp;8774023 |
| Life Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class A (1 month LIBOR + 0.700%),<br> 5.018%, 03/15/2038 (B)(D) | &nbsp;&nbsp;7339838 | &nbsp;&nbsp;&nbsp;7107269 |
| &nbsp;&nbsp;&nbsp;Series 2021-BMR, Class D (1 month LIBOR + 1.400%),<br> 5.718%, 03/15/2038 (B)(D) | &nbsp;&nbsp;5951884 | &nbsp;&nbsp;&nbsp;5638219 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%),<br> 5.631%, 05/15/2039 (B)(D) | 16812000 | 16390811 |
| MFA Trust<br> Series 2021-NQM1, Class A1<br> 1.153%, 04/25/2065 (B)(E) | &nbsp;&nbsp;2730278 | &nbsp;&nbsp;&nbsp;2355622 |
| MHP Trust<br> Series 2022-MHIL, Class A (1 month CME Term SOFR + 0.815%)<br> 5.150%, 01/15/2027 (B)(D) | &nbsp;&nbsp;7636264 | &nbsp;&nbsp;&nbsp;7310943 |
| New Residential Mortgage Loan Trust<br> Series 2020-1A, Class A1B<br> 3.500%, 10/25/2059 (B)(E) | &nbsp;&nbsp;2752119 | &nbsp;&nbsp;&nbsp;2534903 |
| NMLT Trust<br> Series 2021-INV1, Class A1<br> 1.185%, 05/25/2056 (B)(E) | 10145182 | &nbsp;&nbsp;&nbsp;8090089 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 81 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| NYMT Loan Trust<br> Series 2022-CP1, Class A1<br> 2.042%, 07/25/2061 (B) | $&nbsp;&nbsp;3357177 | $&nbsp;&nbsp;&nbsp;&nbsp;2997022 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3,<br> 2.500%, 05/25/2060 (B)(E) | &nbsp;&nbsp;2219015 | &nbsp;&nbsp;&nbsp;&nbsp;1755819 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1,<br> 1.101%, 05/25/2061 (B)(E) | &nbsp;&nbsp;6300720 | &nbsp;&nbsp;&nbsp;&nbsp;4795966 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM3, Class A1,<br> 1.054%, 07/25/2061 (B)(E) | &nbsp;&nbsp;7478363 | &nbsp;&nbsp;&nbsp;&nbsp;5620923 |
| Provident Funding Mortgage Trust<br> Series 2020-F1, Class A2<br> 2.000%, 01/25/2036 (B)(E) | &nbsp;&nbsp;8403187 | &nbsp;&nbsp;&nbsp;&nbsp;7175728 |
| SLG Office Trust<br> Series 2021-OVA, Class C<br> 2.851%, 07/15/2041 (B) | 13974000 | &nbsp;&nbsp;&nbsp;10641447 |
| SMRT<br> Series 2022-MINI, Class A (1 month CME Term SOFR + 1.000%)<br> 5.336%, 01/15/2039 (B)(D) | 16836000 | &nbsp;&nbsp;&nbsp;16245321 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A1,<br> 0.943%, 05/25/2065 (B)(E) | &nbsp;&nbsp;3633878 | &nbsp;&nbsp;&nbsp;&nbsp;3354199 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A1,<br> 2.447%, 12/25/2066 (B)(E) | &nbsp;&nbsp;7390316 | &nbsp;&nbsp;&nbsp;&nbsp;6186630 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2015-1, Class A5,<br> 3.638%, 10/25/2053 (B)(E) | &nbsp;&nbsp;2759000 | &nbsp;&nbsp;&nbsp;&nbsp;2660458 |
| &nbsp;&nbsp;&nbsp;Series 2017-2, Class A1,<br> 2.750%, 04/25/2057 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;333407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329100 |
| &nbsp;&nbsp;&nbsp;Series 2018-4, Class A1,<br> 3.000%, 06/25/2058 (B)(E) | &nbsp;&nbsp;4980242 | &nbsp;&nbsp;&nbsp;&nbsp;4541099 |
| &nbsp;&nbsp;&nbsp;Series 2018-6, Class A1A,<br> 3.750%, 03/25/2058 (B)(E) | &nbsp;&nbsp;&nbsp;&nbsp;400226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388433 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A1,<br> 2.900%, 10/25/2059 (B)(E) | &nbsp;&nbsp;4305888 | &nbsp;&nbsp;&nbsp;&nbsp;3998191 |
| &nbsp;&nbsp;&nbsp;Series 2020-4, Class A1,<br> 1.750%, 10/25/2060 (B) | &nbsp;&nbsp;5696640 | &nbsp;&nbsp;&nbsp;&nbsp;5032108 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-5, Class A1 (1.218% to 10-1-24, then 2.218% thereafter),<br> 1.218%, 05/25/2065 (B) | &nbsp;&nbsp;1671570 | &nbsp;&nbsp;&nbsp;&nbsp;1516440 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1,<br> 0.815%, 01/25/2066 (B)(E) | &nbsp;&nbsp;4620653 | &nbsp;&nbsp;&nbsp;&nbsp;3850687 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class A1,<br> 1.046%, 06/25/2066 (B)(E) | &nbsp;&nbsp;5802160 | &nbsp;&nbsp;&nbsp;&nbsp;4633656 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class A1,<br> 0.938%, 07/25/2066 (B)(E) | &nbsp;&nbsp;3182907 | &nbsp;&nbsp;&nbsp;&nbsp;2448847 |
| &nbsp;&nbsp;&nbsp;Series 2021-5, Class A1,<br> 1.013%, 09/25/2066 (B)(E) | &nbsp;&nbsp;6275778 | &nbsp;&nbsp;&nbsp;&nbsp;5010027 |
| &nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1,<br> 0.820%, 10/25/2063 (B)(E) | &nbsp;&nbsp;2519925 | &nbsp;&nbsp;&nbsp;&nbsp;2249493 |
| &nbsp;&nbsp;&nbsp;Series 2021-R2, Class A1,<br> 0.918%, 02/25/2064 (B)(E) | &nbsp;&nbsp;2970659 | &nbsp;&nbsp;&nbsp;&nbsp;2692803 |
| Visio Trust<br> Series 2020-1R, Class A1<br> 1.312%, 11/25/2055 (B) | &nbsp;&nbsp;4948024 | &nbsp;&nbsp;&nbsp;&nbsp;4451676 |
| Wells Fargo Commercial Mortgage Trust<br> Series 2019-C51, Class A2<br> 3.039%, 06/15/2052 | 12160245 | &nbsp;&nbsp;&nbsp;11777498 |
|  |  | 490649426 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency – 2.4%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA1, Class M1A (1 month SOFR + 1.000%),<br> 4.928%, 01/25/2042 (B)(D) | $&nbsp;&nbsp;&nbsp;8030459 | $&nbsp;&nbsp;&nbsp;7824265 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M1A (1 month SOFR + 1.300%),<br> 5.228%, 02/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;5294122 | &nbsp;&nbsp;&nbsp;5206456 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA2, Class M1B (1 month SOFR + 2.400%),<br> 6.328%, 02/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;7663000 | &nbsp;&nbsp;&nbsp;7452404 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1A (1 month SOFR + 2.000%),<br> 5.928%, 04/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;7193189 | &nbsp;&nbsp;&nbsp;7157225 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1B (1 month SOFR + 2.900%),<br> 6.828%, 04/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;4603000 | &nbsp;&nbsp;&nbsp;4548376 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1A (1 month SOFR + 2.200%),<br> 6.128%, 05/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;5549625 | &nbsp;&nbsp;&nbsp;5532432 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (1 month SOFR + 3.350%),<br> 7.278%, 05/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;6945000 | &nbsp;&nbsp;&nbsp;6981868 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA5, Class M1B (1 month SOFR + 4.500%),<br> 8.428%, 06/25/2042 (B)(D) | &nbsp;&nbsp;10181000 | 10644719 |
| &nbsp;&nbsp;&nbsp;Series K038, Class X1 IO,<br> 1.078%, 03/25/2024 | &nbsp;&nbsp;49755615 | &nbsp;&nbsp;&nbsp;&nbsp;476838 |
| &nbsp;&nbsp;&nbsp;Series K048, Class X1 IO,<br> 0.219%, 06/25/2025 | 152909336 | &nbsp;&nbsp;&nbsp;&nbsp;716808 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1M1 (1 month SOFR + 2.100%),<br> 6.028%, 03/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;6608430 | &nbsp;&nbsp;&nbsp;6562477 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M1 (1 month SOFR + 2.000%),<br> 5.928%, 03/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;2855350 | &nbsp;&nbsp;&nbsp;2845229 |
| &nbsp;&nbsp;&nbsp;Series 2022-R06, Class 1M1 (1 month SOFR + 2.750%),<br> 6.678%, 05/25/2042 (B)(D) | &nbsp;&nbsp;&nbsp;3653619 | &nbsp;&nbsp;&nbsp;3699125 |
| &nbsp;&nbsp;&nbsp;Series 427, Class C20 IO,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;43306232 | &nbsp;&nbsp;&nbsp;5001924 |
| &nbsp;&nbsp;&nbsp;Series 427, Class C77 IO,<br> 2.500%, 09/25/2051 | &nbsp;&nbsp;20585903 | &nbsp;&nbsp;&nbsp;3098650 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.611%, 01/16/2053 | &nbsp;&nbsp;13908806 | &nbsp;&nbsp;&nbsp;&nbsp;214079 |
| &nbsp;&nbsp;&nbsp;Series 2016-174, Class IO,<br> 0.877%, 11/16/2056 | &nbsp;&nbsp;10673999 | &nbsp;&nbsp;&nbsp;&nbsp;440642 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.271%, 04/16/2057 | &nbsp;&nbsp;13094551 | &nbsp;&nbsp;&nbsp;&nbsp;270544 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.620%, 01/16/2059 | &nbsp;&nbsp;13968170 | &nbsp;&nbsp;&nbsp;&nbsp;428306 |
| &nbsp;&nbsp;&nbsp;Series 2017-135, Class IO,<br> 0.721%, 10/16/2058 | &nbsp;&nbsp;40909584 | &nbsp;&nbsp;&nbsp;1692475 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.486%, 02/16/2059 | &nbsp;&nbsp;19473482 | &nbsp;&nbsp;&nbsp;&nbsp;659292 |
| &nbsp;&nbsp;&nbsp;Series 2017-159, Class IO,<br> 0.434%, 06/16/2059 | &nbsp;&nbsp;27460827 | &nbsp;&nbsp;&nbsp;&nbsp;914822 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.532%, 12/16/2058 | &nbsp;&nbsp;25603366 | &nbsp;&nbsp;&nbsp;&nbsp;678666 |
| &nbsp;&nbsp;&nbsp;Series 2017-22, Class IO,<br> 0.795%, 12/16/2057 | &nbsp;&nbsp;13208185 | &nbsp;&nbsp;&nbsp;&nbsp;516420 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 82 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Government National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.601%, 07/16/2058 | &nbsp;&nbsp;9868187 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285181 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.696%, 11/16/2057 | 15001624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570038 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.746%, 05/16/2059 | 21898405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838545 |
| &nbsp;&nbsp;&nbsp;Series 2018-158, Class IO,<br> 0.770%, 05/16/2061 | 20992181 | &nbsp;&nbsp;&nbsp;&nbsp;1066707 |
| &nbsp;&nbsp;&nbsp;Series 2018-69, Class IO,<br> 0.610%, 04/16/2060 | 22880814 | &nbsp;&nbsp;&nbsp;&nbsp;1067614 |
| &nbsp;&nbsp;&nbsp;Series 2019-131, Class IO,<br> 0.802%, 07/16/2061 | 27196484 | &nbsp;&nbsp;&nbsp;&nbsp;1516843 |
| &nbsp;&nbsp;&nbsp;Series 2020-100, Class IO,<br> 0.782%, 05/16/2062 | 28963510 | &nbsp;&nbsp;&nbsp;&nbsp;1729153 |
| &nbsp;&nbsp;&nbsp;Series 2020-108, Class IO,<br> 0.847%, 06/16/2062 | 70247706 | &nbsp;&nbsp;&nbsp;&nbsp;4240910 |
| &nbsp;&nbsp;&nbsp;Series 2020-114, Class IO,<br> 0.800%, 09/16/2062 | 69086608 | &nbsp;&nbsp;&nbsp;&nbsp;4266015 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.885%, 06/16/2062 | 50252453 | &nbsp;&nbsp;&nbsp;&nbsp;3169488 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.601%, 08/16/2062 | 28711083 | &nbsp;&nbsp;&nbsp;&nbsp;1469640 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.760%, 05/16/2062 | 16078858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952468 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.794%, 09/16/2062 | 89694514 | &nbsp;&nbsp;&nbsp;&nbsp;5172494 |
| &nbsp;&nbsp;&nbsp;Series 2020-150, Class IO,<br> 0.961%, 12/16/2062 | 45589642 | &nbsp;&nbsp;&nbsp;&nbsp;3253354 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.833%, 11/16/2062 | 58739975 | &nbsp;&nbsp;&nbsp;&nbsp;3778925 |
| &nbsp;&nbsp;&nbsp;Series 2020-92, Class IO,<br> 0.877%, 02/16/2062 | 66473876 | &nbsp;&nbsp;&nbsp;&nbsp;4394595 |
| &nbsp;&nbsp;&nbsp;Series 2021-10, Class IO,<br> 0.983%, 05/16/2063 | 42837724 | &nbsp;&nbsp;&nbsp;&nbsp;3160589 |
| &nbsp;&nbsp;&nbsp;Series 2021-11, Class IO,<br> 1.020%, 12/16/2062 | 66129971 | &nbsp;&nbsp;&nbsp;&nbsp;4766827 |
| &nbsp;&nbsp;&nbsp;Series 2021-203, Class IO,<br> 0.869%, 07/16/2063 | 55619777 | &nbsp;&nbsp;&nbsp;&nbsp;3787568 |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class IO,<br> 0.867%, 09/16/2062 | 77347377 | &nbsp;&nbsp;&nbsp;&nbsp;5080794 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.824%, 02/16/2063 | 20306801 | &nbsp;&nbsp;&nbsp;&nbsp;1320937 |
| &nbsp;&nbsp;&nbsp;Series 2022-181, Class IO,<br> 0.715%, 07/16/2064 | 20695942 | &nbsp;&nbsp;&nbsp;&nbsp;1551295 |
| &nbsp;&nbsp;&nbsp;Series 2022-21, Class IO,<br> 0.783%, 10/16/2063 | 19044875 | &nbsp;&nbsp;&nbsp;&nbsp;1245152 |
|  |  | 142249174 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $763,135,633) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $763,135,633) | $632898600 |
| **ASSET BACKED SECURITIES – 13.8%** | **ASSET BACKED SECURITIES – 13.8%** |  |
| ABPCI Direct Lending Fund I, Ltd.<br> Series 2020-1A, Class A<br> 3.199%, 12/20/2030 (B) | &nbsp;&nbsp;9473000 | &nbsp;&nbsp;&nbsp;&nbsp;8626853 |
| Aligned Data Centers Issuer LLC<br> Series 2021-1A, Class A2<br> 1.937%, 08/15/2046 (B) | 14682000 | &nbsp;&nbsp;&nbsp;12539835 |
| AmeriCredit Automobile Receivables Trust<br> Series 2020-1, Class C<br> 1.590%, 10/20/2025 | &nbsp;&nbsp;7850000 | &nbsp;&nbsp;&nbsp;&nbsp;7595947 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR2, Class A<br> 1.632%, 07/17/2037 (B) | $&nbsp;&nbsp;9605000 | $&nbsp;&nbsp;&nbsp;8693510 |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR4, Class A<br> 1.355%, 11/17/2037 (B) | &nbsp;&nbsp;2973000 | &nbsp;&nbsp;&nbsp;2660400 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class B<br> 2.153%, 06/17/2038 (B)(E) | &nbsp;&nbsp;7744000 | &nbsp;&nbsp;&nbsp;6236740 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR4, Class A<br> 2.117%, 12/17/2038 (B) | &nbsp;&nbsp;1681000 | &nbsp;&nbsp;&nbsp;1449820 |
| Apex Credit CLO, Ltd.<br> Series 2020-1A, Class A1R (3 month CME Term SOFR + 1.230%)<br> 5.193%, 10/20/2031 (B)(D) | 14099000 | 13778093 |
| Applebee's Funding LLC<br> Series 2019-1A, Class A2I<br> 4.194%, 06/05/2049 (B) | 10925640 | 10735403 |
| Aqua Finance Trust<br> Series 2021-A, Class A<br> 1.540%, 07/17/2046 (B) | &nbsp;&nbsp;3248584 | &nbsp;&nbsp;&nbsp;2970216 |
| Arby's Funding LLC<br> Series 2020-1A, Class A2<br> 3.237%, 07/30/2050 (B) | 10411353 | &nbsp;&nbsp;&nbsp;8799321 |
| Avis Budget Rental Car Funding<br> AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3A, Class A<br> 2.360%, 03/20/2026 (B) | 10031000 | &nbsp;&nbsp;&nbsp;9335939 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.330%, 08/20/2026 (B) | &nbsp;&nbsp;6502000 | &nbsp;&nbsp;&nbsp;6016628 |
| Bain Capital Credit CLO, Ltd.<br> Series 2017-1A, Class BR (3 month LIBOR + 1.500%)<br> 5.743%, 07/20/2030 (B)(D) | &nbsp;&nbsp;8160000 | &nbsp;&nbsp;&nbsp;7810083 |
| Balboa Bay Loan Funding, Ltd.<br> Series 2021-1A, Class A (3 month LIBOR + 1.200%)<br> 5.443%, 07/20/2034 (B)(D) | &nbsp;&nbsp;3723000 | &nbsp;&nbsp;&nbsp;3629519 |
| Barings CLO, Ltd.<br> Series 2013-IA, Class AR (3 month LIBOR + 0.800%)<br> 5.043%, 01/20/2028 (B)(D) | &nbsp;&nbsp;8248219 | &nbsp;&nbsp;&nbsp;8187248 |
| Beacon Container Finance II LLC<br> Series 2021-1A, Class A<br> 2.250%, 10/22/2046 (B) | 11090250 | &nbsp;&nbsp;&nbsp;9396335 |
| BRE Grand Islander Timeshare Issuer LLC<br> Series 2019-A, Class A<br> 3.280%, 09/26/2033 (B) | &nbsp;&nbsp;2694808 | &nbsp;&nbsp;&nbsp;2530912 |
| Carlyle U.S. CLO, Ltd.<br> Series 2019-2A, Class A1R (3 month LIBOR + 1.120%)<br> 5.199%, 07/15/2032 (B)(D) | &nbsp;&nbsp;4566000 | &nbsp;&nbsp;&nbsp;4457452 |
| CarMax Auto Owner Trust<br> Series 2022-4, Class A3<br> 5.340%, 08/16/2027 | &nbsp;&nbsp;8039000 | &nbsp;&nbsp;&nbsp;8116435 |
| CARS-DB4 LP<br> Series 2020-1A, Class A1<br> 2.690%, 02/15/2050 (B) | &nbsp;&nbsp;8675117 | &nbsp;&nbsp;&nbsp;8085887 |
| CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A1<br> 1.690%, 07/15/2060 (B) | 10464546 | &nbsp;&nbsp;&nbsp;9340571 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.530%, 03/15/2061 (B) | &nbsp;&nbsp;9823659 | &nbsp;&nbsp;&nbsp;8494324 |
| Chase Auto Credit Linked Notes<br> Series 2021-3, Class B<br> 0.760%, 02/26/2029 (B) | &nbsp;&nbsp;3410017 | &nbsp;&nbsp;&nbsp;3214026 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 83 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| CLI Funding VI LLC<br> Series 2020-1A, Class A<br> 2.080%, 09/18/2045 (B) | $11853121 | $10261702 |
| CLI Funding VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.640%, 02/18/2046 (B) | &nbsp;&nbsp;9558667 | &nbsp;&nbsp;&nbsp;8150426 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A<br> 2.720%, 01/18/2047 (B) | &nbsp;&nbsp;6261669 | &nbsp;&nbsp;&nbsp;5317091 |
| DataBank Issuer |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.060%, 02/27/2051 (B) | 15959000 | 13822881 |
| &nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2<br> 2.400%, 10/25/2051 (B) | &nbsp;&nbsp;6935000 | &nbsp;&nbsp;&nbsp;6005682 |
| DB Master Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2II<br> 4.030%, 11/20/2047 (B) | &nbsp;&nbsp;4103370 | &nbsp;&nbsp;&nbsp;3729910 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.045%, 11/20/2051 (B) | 16136010 | 13773214 |
| Diamond Infrastructure Funding LLC<br> Series 2021-1A, Class A<br> 1.760%, 04/15/2049 (B) | 10459000 | &nbsp;&nbsp;&nbsp;8566829 |
| DLLAA LLC<br> Series 2021-1A, Class A3<br> 0.670%, 04/17/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;883000 | &nbsp;&nbsp;&nbsp;&nbsp;831585 |
| Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2017-1A, Class A23<br> 4.118%, 07/25/2047 (B) | 11698605 | 10720894 |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.668%, 10/25/2049 (B) | &nbsp;&nbsp;3501000 | &nbsp;&nbsp;&nbsp;3024304 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.662%, 04/25/2051 (B) | &nbsp;&nbsp;7564800 | &nbsp;&nbsp;&nbsp;6291508 |
| Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A2<br> 4.739%, 04/20/2048 (B) | &nbsp;&nbsp;3609900 | &nbsp;&nbsp;&nbsp;3352644 |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.237%, 01/20/2051 (B) | &nbsp;&nbsp;7462088 | &nbsp;&nbsp;&nbsp;6169818 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.791%, 10/20/2051 (B) | &nbsp;&nbsp;9292140 | &nbsp;&nbsp;&nbsp;7369132 |
| Eaton Vance CLO, Ltd.<br> Series 2020-2A, Class BR (3 month LIBOR + 1.700%)<br> 5.779%, 01/15/2035 (B)(D) | &nbsp;&nbsp;6040000 | &nbsp;&nbsp;&nbsp;5740821 |
| Elara HGV Timeshare Issuer LLC<br> Series 2019-A, Class A<br> 2.610%, 01/25/2034 (B) | &nbsp;&nbsp;3569981 | &nbsp;&nbsp;&nbsp;3310221 |
| Elmwood CLO IV, Ltd.<br> Series 2020-1A, Class A (3 month LIBOR + 1.240%)<br> 5.319%, 04/15/2033 (B)(D) | &nbsp;&nbsp;7297000 | &nbsp;&nbsp;&nbsp;7177993 |
| Exeter Automobile Receivables Trust<br> Series 2021-1A, Class C<br> 0.740%, 01/15/2026 | &nbsp;&nbsp;3833932 | &nbsp;&nbsp;&nbsp;3750305 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class A<br> 1.339%, 08/17/2037 (B) | &nbsp;&nbsp;2493638 | &nbsp;&nbsp;&nbsp;2228407 |
| &nbsp;&nbsp;&nbsp;Series 2020-SFR2, Class A<br> 1.266%, 10/19/2037 (B) | &nbsp;&nbsp;7318713 | &nbsp;&nbsp;&nbsp;6484881 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class A<br> 1.538%, 08/17/2038 (B) | &nbsp;&nbsp;5590697 | &nbsp;&nbsp;&nbsp;4848212 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR1, Class C<br> 1.888%, 08/17/2038 (B) | 12224000 | 10359027 |
| Five Guys Funding LLC<br> Series 2017-1A, Class A2<br> 4.600%, 07/25/2047 (B) | &nbsp;&nbsp;6676488 | &nbsp;&nbsp;&nbsp;6249600 |
| Golub Capital Partners Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 3.208%, 01/22/2029 (B) | &nbsp;&nbsp;7732000 | &nbsp;&nbsp;&nbsp;7059161 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Golub Capital Partners<br> Funding, Ltd. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.773%, 04/20/2029 (B) | $&nbsp;&nbsp;7518000 | $&nbsp;&nbsp;&nbsp;6798137 |
| HalseyPoint CLO II, Ltd.<br> Series 2020-2A, Class B (3 month LIBOR + 1.640%)<br> 5.883%, 07/20/2031 (B)(D) | &nbsp;&nbsp;7083000 | &nbsp;&nbsp;&nbsp;6887169 |
| HI-FI Music IP Issuer LP<br> Series 2022-1A, Class A2<br> 3.939%, 02/01/2062 (B) | &nbsp;&nbsp;6373000 | &nbsp;&nbsp;&nbsp;5708647 |
| Hilton Grand Vacations Trust<br> Series 2018-AA, Class A<br> 3.540%, 02/25/2032 (B) | &nbsp;&nbsp;1529138 | &nbsp;&nbsp;&nbsp;1477871 |
| Home Partners of America Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1, Class A<br> 2.908%, 09/17/2039 (B) | 11624340 | 10430071 |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A<br> 1.901%, 12/17/2026 (B) | &nbsp;&nbsp;3220269 | &nbsp;&nbsp;&nbsp;2781435 |
| Hotwire Funding LLC<br> Series 2021-1, Class A2<br> 2.311%, 11/20/2051 (B) | &nbsp;&nbsp;4624000 | &nbsp;&nbsp;&nbsp;4011500 |
| Hyundai Auto Receivables Trust<br> Series 2022-C, Class A3<br> 5.390%, 06/15/2027 | 11052000 | 11165558 |
| Jack in the Box Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A23<br> 4.970%, 08/25/2049 (B) | &nbsp;&nbsp;2567273 | &nbsp;&nbsp;&nbsp;2267857 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2I<br> 3.445%, 02/26/2052 (B) | &nbsp;&nbsp;8483805 | &nbsp;&nbsp;&nbsp;7354984 |
| Laurel Road Prime Student Loan Trust<br> Series 2019-A, Class A2FX<br> 2.730%, 10/25/2048 (B) | &nbsp;&nbsp;&nbsp;&nbsp;617139 | &nbsp;&nbsp;&nbsp;&nbsp;599600 |
| Madison Park Funding XXIII, Ltd.<br> Series 2017-23A, Class BR (3 month LIBOR + 1.550%)<br> 5.908%, 07/27/2031 (B)(D) | 10046000 | &nbsp;&nbsp;&nbsp;9775381 |
| Marathon CLO X, Ltd.<br> Series 2017-10A, Class A1AR (3 month LIBOR + 1.000%)<br> 5.606%, 11/15/2029 (B)(D) | &nbsp;&nbsp;8834321 | &nbsp;&nbsp;&nbsp;8702540 |
| Mercedes-Benz Auto Receivables Trust<br> Series 2022-1, Class A3<br> 5.210%, 08/16/2027 | &nbsp;&nbsp;6736000 | &nbsp;&nbsp;&nbsp;6794050 |
| Monroe Capital Funding, Ltd.<br> Series 2021-1A, Class A2<br> 2.815%, 04/22/2031 (B) | 13424000 | 12325170 |
| MVW Owner Trust<br> Series 2018-1A, Class A<br> 3.450%, 01/21/2036 (B) | &nbsp;&nbsp;2600447 | &nbsp;&nbsp;&nbsp;2518508 |
| Navient Private Education Loan Trust<br> Series 2016-AA, Class A2A<br> 3.910%, 12/15/2045 (B) | &nbsp;&nbsp;1753154 | &nbsp;&nbsp;&nbsp;1696283 |
| Navient Private Education Refi<br> Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-EA, Class A2A<br> 2.640%, 05/15/2068 (B) | &nbsp;&nbsp;3291279 | &nbsp;&nbsp;&nbsp;3098151 |
| &nbsp;&nbsp;&nbsp;Series 2019-FA, Class A2<br> 2.600%, 08/15/2068 (B) | &nbsp;&nbsp;3480395 | &nbsp;&nbsp;&nbsp;3220024 |
| &nbsp;&nbsp;&nbsp;Series 2020-BA, Class A2<br> 2.120%, 01/15/2069 (B) | &nbsp;&nbsp;6927723 | &nbsp;&nbsp;&nbsp;6288930 |
| &nbsp;&nbsp;&nbsp;Series 2020-GA, Class A<br> 1.170%, 09/16/2069 (B) | &nbsp;&nbsp;5927352 | &nbsp;&nbsp;&nbsp;5257214 |
| &nbsp;&nbsp;&nbsp;Series 2020-HA, Class A<br> 1.310%, 01/15/2069 (B) | &nbsp;&nbsp;7309234 | &nbsp;&nbsp;&nbsp;6559861 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class A<br> 0.840%, 05/15/2069 (B) | &nbsp;&nbsp;7435026 | &nbsp;&nbsp;&nbsp;6428380 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 84 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Navient Student Loan Trust<br> Series 2020-2A, Class A1A<br> 1.320%, 08/26/2069 (B) | $&nbsp;&nbsp;6373146 | $&nbsp;&nbsp;&nbsp;5340333 |
| Neighborly Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 3.584%, 04/30/2051 (B) | 13393045 | 10716565 |
| &nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2<br> 3.695%, 01/30/2052 (B) | &nbsp;&nbsp;5506390 | &nbsp;&nbsp;&nbsp;4364563 |
| Neuberger Berman CLO XX, Ltd.<br> Series 2015-20A, Class BRR (3 month LIBOR + 1.650%)<br> 5.729%, 07/15/2034 (B)(D) | &nbsp;&nbsp;2978000 | &nbsp;&nbsp;&nbsp;2866596 |
| Neuberger Berman Loan Advisers CLO 34, Ltd.<br> Series 2019-34A, Class BR (3 month CME Term SOFR + 1.750%)<br> 5.713%, 01/20/2035 (B)(D) | &nbsp;&nbsp;7187000 | &nbsp;&nbsp;&nbsp;6901827 |
| New Economy Assets Phase 1<br> Sponsor LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 1.910%, 10/20/2061 (B) | 12983000 | 10970242 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class B1<br> 2.410%, 10/20/2061 (B) | &nbsp;&nbsp;3933000 | &nbsp;&nbsp;&nbsp;3231018 |
| NRZ Excess Spread-Collateralized Notes |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-PLS1, Class A<br> 3.844%, 12/25/2025 (B) | &nbsp;&nbsp;1865500 | &nbsp;&nbsp;&nbsp;1700097 |
| &nbsp;&nbsp;&nbsp;Series 2021-FHT1, Class A<br> 3.104%, 07/25/2026 (B) | &nbsp;&nbsp;1981723 | &nbsp;&nbsp;&nbsp;1729552 |
| Oaktree CLO, Ltd.<br> Series 2021-1A, Class A1 (3 month LIBOR + 1.160%)<br> 5.239%, 07/15/2034 (B)(D) | 11169000 | 10883666 |
| Ocean Trails CLO X<br> Series 2020-10A, Class AR (3 month LIBOR + 1.220%)<br> 5.299%, 10/15/2034 (B)(D) | &nbsp;&nbsp;5975000 | &nbsp;&nbsp;&nbsp;5780239 |
| OCP CLO, Ltd.<br> Series 2020-19A, Class AR (3 month LIBOR + 1.150%)<br> 5.393%, 10/20/2034 (B)(D) | &nbsp;&nbsp;4404000 | &nbsp;&nbsp;&nbsp;4293319 |
| Oxford Finance Funding LLC<br> Series 2020-1A, Class A2<br> 3.101%, 02/15/2028 (B) | &nbsp;&nbsp;4299684 | &nbsp;&nbsp;&nbsp;4252163 |
| Palmer Square Loan Funding, Ltd.<br> Series 2021-3A, Class A2 (3 month LIBOR + 1.400%)<br> 5.643%, 07/20/2029 (B)(D) | &nbsp;&nbsp;6333000 | &nbsp;&nbsp;&nbsp;6145360 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR2, Class A<br> 1.546%, 04/19/2038 (B) | 19357702 | 16911030 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR5, Class A<br> 1.427%, 07/17/2038 (B) | 13650386 | 11744029 |
| &nbsp;&nbsp;&nbsp;Series 2021-SFR8, Class B<br> 1.681%, 10/17/2038 (B) | &nbsp;&nbsp;4514000 | &nbsp;&nbsp;&nbsp;3729377 |
| SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-2A, Class C<br> 3.110%, 06/21/2027 (B) | 12112000 | 11437958 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class B<br> 1.370%, 08/20/2029 (B) | &nbsp;&nbsp;6799000 | &nbsp;&nbsp;&nbsp;6105430 |
| &nbsp;&nbsp;&nbsp;Series 2022-2A, Class A3<br> 6.500%, 10/21/2030 (B) | 12961000 | 13079754 |
| SERVPRO Master Issuer LLC<br> Series 2021-1A, Class A2<br> 2.394%, 04/25/2051 (B) | &nbsp;&nbsp;7130415 | &nbsp;&nbsp;&nbsp;5577453 |
| Sesac Finance LLC<br> Series 2019-1, Class A2<br> 5.216%, 07/25/2049 (B) | 10110375 | &nbsp;&nbsp;&nbsp;9333180 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Sierra Timeshare Receivables Funding LLC<br> Series 2021-1A, Class A<br> 0.990%, 11/20/2037 (B) | $&nbsp;&nbsp;4516246 | $&nbsp;&nbsp;&nbsp;4178890 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-B, Class A2A<br> 2.840%, 06/15/2037 (B) | &nbsp;&nbsp;7068639 | &nbsp;&nbsp;&nbsp;6607727 |
| &nbsp;&nbsp;&nbsp;Series 2020-PTA, Class A2A<br> 1.600%, 09/15/2054 (B) | &nbsp;&nbsp;5718575 | &nbsp;&nbsp;&nbsp;5080001 |
| &nbsp;&nbsp;&nbsp;Series 2021-A, Class APT2<br> 1.070%, 01/15/2053 (B) | &nbsp;&nbsp;4344404 | &nbsp;&nbsp;&nbsp;3725154 |
| SoFi Professional Loan Program LLC<br> Series 2019-B, Class A2FX<br> 3.090%, 08/17/2048 (B) | &nbsp;&nbsp;1354801 | &nbsp;&nbsp;&nbsp;1273950 |
| Sonic Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2I<br> 3.845%, 01/20/2050 (B) | &nbsp;&nbsp;8568297 | &nbsp;&nbsp;&nbsp;7596138 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2II<br> 4.336%, 01/20/2050 (B) | &nbsp;&nbsp;7448060 | &nbsp;&nbsp;&nbsp;6308075 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2I<br> 2.190%, 08/20/2051 (B) | &nbsp;&nbsp;6999400 | &nbsp;&nbsp;&nbsp;5573111 |
| Sound Point CLO XXVII, Ltd.<br> Series 2020-2A, Class B1R (3 month LIBOR + 1.650%)<br> 6.008%, 10/25/2034 (B)(D) | &nbsp;&nbsp;3676000 | &nbsp;&nbsp;&nbsp;3388632 |
| Starwood Property Mortgage Trust<br> Series 2021-SIF2A, Class A1 (3 month CME Term SOFR + 1.550%)<br> 5.414%, 01/15/2033 (B)(D) | 10802000 | 10602325 |
| Sunbird Engine Finance LLC<br> Series 2020-1A, Class A<br> 3.671%, 02/15/2045 (B) | &nbsp;&nbsp;3802191 | &nbsp;&nbsp;&nbsp;3029820 |
| Taco Bell Funding LLC<br> Series 2021-1A, Class A2I<br> 1.946%, 08/25/2051 (B) | 14207490 | 12005656 |
| TIF Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.090%, 08/20/2045 (B) | 13593335 | 11664529 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.650%, 02/20/2046 (B) | &nbsp;&nbsp;5894646 | &nbsp;&nbsp;&nbsp;4888699 |
| Toyota Auto Receivables Owner Trust<br> Series 2022-D, Class A3<br> 5.300%, 09/15/2027 | &nbsp;&nbsp;9651000 | &nbsp;&nbsp;&nbsp;9761408 |
| Tricon American Homes Trust<br> Series 2020-SFR2, Class A<br> 1.482%, 11/17/2039 (B) | &nbsp;&nbsp;9633578 | &nbsp;&nbsp;&nbsp;7972186 |
| Triton Container Finance VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A<br> 2.110%, 09/20/2045 (B) | 13709930 | 11729650 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 1.860%, 03/20/2046 (B) | &nbsp;&nbsp;8110710 | &nbsp;&nbsp;&nbsp;6762417 |
| Vantage Data Centers LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-1A, Class A2<br> 3.188%, 07/15/2044 (B) | &nbsp;&nbsp;9723700 | &nbsp;&nbsp;&nbsp;9241985 |
| &nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2<br> 1.645%, 09/15/2045 (B) | &nbsp;&nbsp;8834000 | &nbsp;&nbsp;&nbsp;7790916 |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 1.992%, 09/15/2045 (B) | &nbsp;&nbsp;6853000 | &nbsp;&nbsp;&nbsp;5629913 |
| VCP RRL ABS I, Ltd.<br> Series 2021-1A, Class A<br> 2.152%, 10/20/2031 (B) | &nbsp;&nbsp;3178184 | &nbsp;&nbsp;&nbsp;2879480 |
| VR Funding LLC<br> Series 2020-1A, Class A<br> 2.790%, 11/15/2050 (B) | &nbsp;&nbsp;8833536 | &nbsp;&nbsp;&nbsp;7346595 |
| VSE VOI Mortgage LLC<br> Series 2017-A, Class A<br> 2.330%, 03/20/2035 (B) | &nbsp;&nbsp;2657139 | &nbsp;&nbsp;&nbsp;2542593 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 85 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Select Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Wendy's Funding LLC<br> Series 2021-1A, Class A2I<br> 2.370%, 06/15/2051 (B) | $&nbsp;&nbsp;8033660 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6485767 |
| Westgate Resorts LLC<br> Series 2022-1A, Class A<br> 1.788%, 08/20/2036 (B) | &nbsp;&nbsp;7166858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6753519 |
| Willis Engine Structured Trust V<br> Series 2020-A, Class A<br> 3.228%, 03/15/2045 (B) | &nbsp;&nbsp;3137276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412676 |
| Wingstop Funding LLC<br> Series 2020-1A, Class A2<br> 2.841%, 12/05/2050 (B) | 15674670 | &nbsp;&nbsp;&nbsp;&nbsp;13246350 |
| Zaxby's Funding LLC<br> Series 2021-1A, Class A2<br> 3.238%, 07/30/2051 (B) | &nbsp;&nbsp;6203475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993041 |
| TOTAL ASSET BACKED SECURITIES (Cost $915,468,103) |  | $&nbsp;&nbsp;818010020 |
| **SHORT-TERM INVESTMENTS – 3.3%** | **SHORT-TERM INVESTMENTS – 3.3%** |  |
| **Short-term funds – 3.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (F)(G) | 19524239 | &nbsp;&nbsp;&nbsp;&nbsp;195160389 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $195,134,100) | TOTAL SHORT-TERM INVESTMENTS (Cost $195,134,100) | $&nbsp;&nbsp;&nbsp;&nbsp;195160389 |
| **Total Investments (Select Bond Trust)<br> (Cost $6,782,769,491) – 102.4%** | **Total Investments (Select Bond Trust)<br> (Cost $6,782,769,491) – 102.4%** | $**6099002103** |
| **Other assets and liabilities, net – (2.4%)** |  | **(140192678)** |
| **TOTAL NET ASSETS – 100.0%** |  | $**5958809425** |
| **SALE COMMITMENTS<br> OUTSTANDING - (0.1)%** |  |  |
| **U.S. Government Agency – (0.1%)** |  |  |
| Federal National Mortgage Association<br> 4.500%, TBA (A) | $(6000000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5971435) |
| TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $5,913,115) | TOTAL SALE COMMITMENTS OUTSTANDING (Proceeds received $5,913,115) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5971435) |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $1,636,333,491 or 27.5% of the fund's net assets as of 12-31-22. |
| (C) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (F) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (G) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| U.S. Treasury Long Bond Futures | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$44848560 | &nbsp;&nbsp;&nbsp;&nbsp;$44873062 | &nbsp;&nbsp;&nbsp;&nbsp;$24502 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$24502** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Short Term Government Income Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 93.6%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 93.6%** |  |
| **U.S. Government – 26.0%** |  |  |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.625%, 07/31/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883633 |
| &nbsp;&nbsp;&nbsp;0.875%, 06/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609594 |
| &nbsp;&nbsp;&nbsp;1.125%, 10/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236035 |
| &nbsp;&nbsp;&nbsp;2.000%, 05/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926953 |
| &nbsp;&nbsp;&nbsp;2.125%, 03/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615625 |
| &nbsp;&nbsp;&nbsp;2.625%, 06/30/2023 to 04/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583480 |

---

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Notes (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 07/31/2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3215000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180087 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13127099 |
| &nbsp;&nbsp;&nbsp;3.875%, 11/30/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11437109 |
| &nbsp;&nbsp;&nbsp;4.250%, 10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498047 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42097662 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 86 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency – 67.6%** |  |  |
| Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 12/23/2025 to 02/04/2026 | $10000000 | $&nbsp;&nbsp;&nbsp;&nbsp;8882499 |
| &nbsp;&nbsp;&nbsp;0.680%, 01/13/2027 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;5191786 |
| &nbsp;&nbsp;&nbsp;1.600%, 12/14/2026 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1797473 |
| &nbsp;&nbsp;&nbsp;3.370%, 12/08/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1926362 |
| Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;0.625%, 11/27/2024 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1854030 |
| &nbsp;&nbsp;&nbsp;0.650%, 02/26/2026 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;5324741 |
| &nbsp;&nbsp;&nbsp;0.700%, 01/28/2026 | &nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;6239161 |
| &nbsp;&nbsp;&nbsp;0.850%, 10/28/2024 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3729665 |
| &nbsp;&nbsp;&nbsp;0.900%, 02/26/2027 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1726194 |
| &nbsp;&nbsp;&nbsp;1.000%, 11/08/2024 to 03/23/2026 | &nbsp;&nbsp;3950000 | &nbsp;&nbsp;&nbsp;&nbsp;3614883 |
| &nbsp;&nbsp;&nbsp;1.100%, 07/13/2026 to 08/20/2026 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2666744 |
| &nbsp;&nbsp;&nbsp;2.750%, 03/25/2027 | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;2425634 |
| &nbsp;&nbsp;&nbsp;2.875%, 09/13/2024 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;5339206 |
| &nbsp;&nbsp;&nbsp;3.250%, 06/09/2025 | &nbsp;&nbsp;2415000 | &nbsp;&nbsp;&nbsp;&nbsp;2328013 |
| &nbsp;&nbsp;&nbsp;3.500%, 05/19/2025 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3902394 |
| &nbsp;&nbsp;&nbsp;4.130%, 08/28/2025 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2459828 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/20/2025 to 09/14/2027 | &nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;3285024 |
| &nbsp;&nbsp;&nbsp;6.000%, 11/23/2027 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1501328 |
| &nbsp;&nbsp;&nbsp;6.125%, 11/16/2027 | &nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;1066447 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, 09/23/2025 | &nbsp;&nbsp;3060000 | &nbsp;&nbsp;&nbsp;&nbsp;2753636 |
| &nbsp;&nbsp;&nbsp;0.640%, 11/24/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1792046 |
| &nbsp;&nbsp;&nbsp;0.650%, 10/22/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1794919 |
| &nbsp;&nbsp;&nbsp;0.700%, 12/23/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1791097 |
| &nbsp;&nbsp;&nbsp;0.800%, 10/27/2026 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1745709 |
| &nbsp;&nbsp;&nbsp;1.500%, 02/12/2025 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;5653679 |
| &nbsp;&nbsp;&nbsp;2.500%, 09/01/2034 | &nbsp;&nbsp;1631825 | &nbsp;&nbsp;&nbsp;&nbsp;1506714 |
| &nbsp;&nbsp;&nbsp;2.829%, (12 month LIBOR + 1.617%), 05/01/2045 (A) | &nbsp;&nbsp;&nbsp;&nbsp;320463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319636 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2030 to 12/01/2032 | &nbsp;&nbsp;1934995 | &nbsp;&nbsp;&nbsp;&nbsp;1849443 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;861917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832354 |
| &nbsp;&nbsp;&nbsp;4.050%, 08/28/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1961264 |
| &nbsp;&nbsp;&nbsp;4.250%, 08/25/2027 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1958428 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2031 to 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, 08/25/2025 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4509426 |
| &nbsp;&nbsp;&nbsp;0.625%, 04/22/2025 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3674974 |
| &nbsp;&nbsp;&nbsp;0.650%, 12/17/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1789260 |
| &nbsp;&nbsp;&nbsp;2.500%, 10/01/2027 to 09/01/2034 | &nbsp;&nbsp;1944451 | &nbsp;&nbsp;&nbsp;&nbsp;1805899 |
| &nbsp;&nbsp;&nbsp;3.000%, 03/01/2028 to 09/01/2034 | &nbsp;&nbsp;5092516 | &nbsp;&nbsp;&nbsp;&nbsp;4865569 |
| &nbsp;&nbsp;&nbsp;3.500%, 07/01/2031 to 06/01/2034 | &nbsp;&nbsp;3329403 | &nbsp;&nbsp;&nbsp;&nbsp;3220639 |
| &nbsp;&nbsp;&nbsp;6.500%, 01/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;240055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255535 |
| &nbsp;&nbsp;&nbsp;7.000%, 12/01/2026 to 01/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 |
| &nbsp;&nbsp;&nbsp;8.000%, 10/01/2024 to 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 |
|  |  | 109343307 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $161,990,965) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $161,990,965) | $151440969 |
| **MUNICIPAL BONDS – 4.7%** |  |  |
| City of Houston (Texas)<br> 3.628%, 05/15/2024 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984253 |
| City of Houston, GO (Texas)<br> 2.110%, 03/01/2025 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942323 |
| City of New York, GO |  |  |
| &nbsp;&nbsp;&nbsp;1.990%, 10/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902673 |
| &nbsp;&nbsp;&nbsp;3.250%, 03/01/2024 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984640 |
| County of Orange (Florida)<br> 2.280%, 01/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927833 |
| Los Angeles Unified School District, GO (California)<br> 1.540%, 09/15/2025 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918722 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| New York State Urban Development Corp.<br> 3.080%, 03/15/2024 | &nbsp;&nbsp;1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;982405 |
| State of California, GO<br> 2.375%, 10/01/2026 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;920529 |
| TOTAL MUNICIPAL BONDS (Cost $8,154,470) | TOTAL MUNICIPAL BONDS (Cost $8,154,470) | $7563378 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.8%** |  |
| **U.S. Government Agency – 0.8%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series K026, Class X1 IO,<br> 0.877%, 11/25/2022 | &nbsp;&nbsp;&nbsp;&nbsp;604724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;Series K030, Class X1 IO,<br> 0.137%, 04/25/2023 | 95307487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8416 |
| &nbsp;&nbsp;&nbsp;Series K038, Class X1 IO,<br> 1.078%, 03/25/2024 | &nbsp;&nbsp;7431224 | &nbsp;&nbsp;&nbsp;&nbsp;71218 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 427, Class C20 IO,<br> 2.000%, 02/25/2051 | &nbsp;&nbsp;1197421 | &nbsp;&nbsp;&nbsp;&nbsp;138304 |
| &nbsp;&nbsp;&nbsp;Series 427, Class C77 IO,<br> 2.500%, 09/25/2051 | &nbsp;&nbsp;&nbsp;&nbsp;569305 | &nbsp;&nbsp;&nbsp;&nbsp;85693 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2012-114, Class IO,<br> 0.611%, 01/16/2053 | &nbsp;&nbsp;&nbsp;&nbsp;947174 | &nbsp;&nbsp;&nbsp;&nbsp;14579 |
| &nbsp;&nbsp;&nbsp;Series 2017-109, Class IO,<br> 0.271%, 04/16/2057 | &nbsp;&nbsp;&nbsp;&nbsp;972898 | &nbsp;&nbsp;&nbsp;&nbsp;20101 |
| &nbsp;&nbsp;&nbsp;Series 2017-124, Class IO,<br> 0.620%, 01/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;835177 | &nbsp;&nbsp;&nbsp;&nbsp;25609 |
| &nbsp;&nbsp;&nbsp;Series 2017-140, Class IO,<br> 0.486%, 02/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;648262 | &nbsp;&nbsp;&nbsp;&nbsp;21947 |
| &nbsp;&nbsp;&nbsp;Series 2017-20, Class IO,<br> 0.532%, 12/16/2058 | &nbsp;&nbsp;1586833 | &nbsp;&nbsp;&nbsp;&nbsp;42062 |
| &nbsp;&nbsp;&nbsp;Series 2017-41, Class IO,<br> 0.601%, 07/16/2058 | &nbsp;&nbsp;&nbsp;&nbsp;889582 | &nbsp;&nbsp;&nbsp;&nbsp;25708 |
| &nbsp;&nbsp;&nbsp;Series 2017-46, Class IO,<br> 0.696%, 11/16/2057 | &nbsp;&nbsp;1340663 | &nbsp;&nbsp;&nbsp;&nbsp;50943 |
| &nbsp;&nbsp;&nbsp;Series 2017-61, Class IO,<br> 0.746%, 05/16/2059 | &nbsp;&nbsp;&nbsp;&nbsp;754580 | &nbsp;&nbsp;&nbsp;&nbsp;28895 |
| &nbsp;&nbsp;&nbsp;Series 2017-74, Class IO,<br> 0.451%, 09/16/2058 | &nbsp;&nbsp;1295865 | &nbsp;&nbsp;&nbsp;&nbsp;31581 |
| &nbsp;&nbsp;&nbsp;Series 2017-89, Class IO,<br> 0.502%, 07/16/2059 | &nbsp;&nbsp;1119560 | &nbsp;&nbsp;&nbsp;&nbsp;36835 |
| &nbsp;&nbsp;&nbsp;Series 2018-9, Class IO,<br> 0.442%, 01/16/2060 | &nbsp;&nbsp;1368006 | &nbsp;&nbsp;&nbsp;&nbsp;42894 |
| &nbsp;&nbsp;&nbsp;Series 2020-118, Class IO,<br> 0.885%, 06/16/2062 | &nbsp;&nbsp;1374870 | &nbsp;&nbsp;&nbsp;&nbsp;86715 |
| &nbsp;&nbsp;&nbsp;Series 2020-119, Class IO,<br> 0.601%, 08/16/2062 | &nbsp;&nbsp;&nbsp;&nbsp;791163 | &nbsp;&nbsp;&nbsp;&nbsp;40497 |
| &nbsp;&nbsp;&nbsp;Series 2020-120, Class IO,<br> 0.760%, 05/16/2062 | &nbsp;&nbsp;2080692 | &nbsp;&nbsp;&nbsp;&nbsp;123255 |
| &nbsp;&nbsp;&nbsp;Series 2020-137, Class IO,<br> 0.794%, 09/16/2062 | &nbsp;&nbsp;1417320 | &nbsp;&nbsp;&nbsp;&nbsp;81734 |
| &nbsp;&nbsp;&nbsp;Series 2020-170, Class IO,<br> 0.833%, 11/16/2062 | &nbsp;&nbsp;1558938 | &nbsp;&nbsp;&nbsp;&nbsp;100291 |
| &nbsp;&nbsp;&nbsp;Series 2021-40, Class IO,<br> 0.824%, 02/16/2063 | &nbsp;&nbsp;&nbsp;&nbsp;492705 | &nbsp;&nbsp;&nbsp;&nbsp;32050 |
| &nbsp;&nbsp;&nbsp;Series 2022-53, Class IO,<br> 0.712%, 06/16/2064 | &nbsp;&nbsp;1747618 | &nbsp;&nbsp;&nbsp;&nbsp;98838 |
|  |  | 1208166 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,332,194) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,332,194) | $1208166 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 87 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Short Term Government Income Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 0.3%** | **SHORT-TERM INVESTMENTS – 0.3%** |  |
| **Short-term funds – 0.3%** |  |  |
| John Hancock Collateral Trust, 4.2988% (B)(C) | 48513 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484928 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $484,880) | TOTAL SHORT-TERM INVESTMENTS (Cost $484,880) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484928 |
| **Total Investments (Short Term Government Income Trust)<br> (Cost $173,962,509) – 99.4%** | **Total Investments (Short Term Government Income Trust)<br> (Cost $173,962,509) – 99.4%** | $**160697441** |
| **Other assets and liabilities, net – 0.6%** |  | &nbsp;&nbsp;&nbsp;**1042839** |
| **TOTAL NET ASSETS – 100.0%** |  | $**161740280** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| GO | General Obligation |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

#### Strategic Income Opportunities Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 13.1%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 13.1%** |  |
| **U.S. Government – 9.6%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 02/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188773 |
| &nbsp;&nbsp;&nbsp;2.375%, 02/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3214401 |
| &nbsp;&nbsp;&nbsp;2.750%, 11/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797555 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2049 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6761936 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 02/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581622 |
| &nbsp;&nbsp;&nbsp;1.500%, 01/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225345 |
| &nbsp;&nbsp;&nbsp;1.875%, 02/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013912 |
| &nbsp;&nbsp;&nbsp;2.375%, 03/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1995907 |
| &nbsp;&nbsp;&nbsp;2.625%, 05/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956756 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829178 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10035000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35813265 |
| **U.S. Government Agency – 3.5%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314816 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2052 to 11/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3333953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324138 |
| &nbsp;&nbsp;&nbsp;5.500%, 11/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744660 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063406 |
| &nbsp;&nbsp;&nbsp;5.000%, 11/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792930 |
| &nbsp;&nbsp;&nbsp;5.500%, 10/01/2052 to 12/01/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4781213 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13021163 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $52,046,024) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $52,046,024) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48834428 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 22.4%** | **FOREIGN GOVERNMENT OBLIGATIONS – 22.4%** |  |
| **Australia – 1.4%** |  |  |
| Commonwealth of Australia |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 11/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417571 |
| &nbsp;&nbsp;&nbsp;0.500%, 09/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470350 |
| &nbsp;&nbsp;&nbsp;1.000%, 12/21/2030 to 11/21/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980575 |
| New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 03/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880748 |
| &nbsp;&nbsp;&nbsp;3.000%, 05/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818587 |

---

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Australia (continued)** |  |  |
| Queensland Treasury Corp.<br> 2.750%, 08/20/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910000 | $&nbsp;&nbsp;&nbsp;&nbsp;582875 |
|  |  | 5150706 |
| **Austria – 0.2%** |  |  |
| Republic of Austria<br> 0.500%, 02/20/2029 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;695598 |
| **Brazil – 0.6%** |  |  |
| Federative Republic of Brazil<br> 10.000%, 01/01/2025 to 01/01/2027 | &nbsp;&nbsp;&nbsp;&nbsp;12035000 | 2173560 |
| **Canada – 2.6%** |  |  |
| Canada Housing Trust No. 1 |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 06/15/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1425000 | &nbsp;&nbsp;&nbsp;&nbsp;964811 |
| &nbsp;&nbsp;&nbsp;1.950%, 12/15/2025 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1675000 | 1169692 |
| CPPIB Capital, Inc.<br> 2.250%, 12/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635000 | &nbsp;&nbsp;&nbsp;&nbsp;404548 |
| Government of Canada<br> 1.500%, 09/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp;&nbsp;&nbsp;626951 |
| Province of Ontario |  |  |
| &nbsp;&nbsp;&nbsp;1.350%, 12/02/2030 | &nbsp;&nbsp;&nbsp;&nbsp;5160000 | 3132890 |
| &nbsp;&nbsp;&nbsp;2.900%, 06/02/2028 | &nbsp;&nbsp;&nbsp;&nbsp;1815000 | 1278248 |
| &nbsp;&nbsp;&nbsp;3.450%, 06/02/2045 | &nbsp;&nbsp;&nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;682917 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;0.200%, 04/07/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;284513 |
| &nbsp;&nbsp;&nbsp;1.500%, 12/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497000 | &nbsp;&nbsp;&nbsp;&nbsp;587179 |
| &nbsp;&nbsp;&nbsp;3.000%, 09/01/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;475033 |
|  |  | 9606782 |
| **China – 1.2%** |  |  |
| People's Republic of China |  |  |
| &nbsp;&nbsp;&nbsp;1.990%, 04/09/2025 | &nbsp;&nbsp;&nbsp;&nbsp;12420000 | 1767854 |
| &nbsp;&nbsp;&nbsp;2.690%, 08/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;4220000 | &nbsp;&nbsp;&nbsp;&nbsp;608712 |
| &nbsp;&nbsp;&nbsp;2.880%, 11/05/2023 | &nbsp;&nbsp;&nbsp;&nbsp;14670000 | 2122743 |
|  |  | 4499309 |
| **Colombia – 0.3%** |  |  |
| Republic of Colombia |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/22/2032 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;694474 |
| &nbsp;&nbsp;&nbsp;4.500%, 03/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;203052 |
| &nbsp;&nbsp;&nbsp;5.625%, 02/26/2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;172343 |
|  |  | 1069869 |
| **Greece – 0.6%** |  |  |
| Republic of Greece |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 06/18/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1020000 | &nbsp;&nbsp;&nbsp;&nbsp;884396 |
| &nbsp;&nbsp;&nbsp;2.000%, 04/22/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779000 | &nbsp;&nbsp;&nbsp;&nbsp;780040 |
| &nbsp;&nbsp;&nbsp;4.200%, 01/30/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;729592 |
|  |  | 2394028 |
| **India – 0.4%** |  |  |
| Export-Import Bank of India<br> 3.875%, 02/01/2028 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;583758 |
| Republic of India |  |  |
| &nbsp;&nbsp;&nbsp;6.100%, 07/12/2031 | &nbsp;&nbsp;&nbsp;&nbsp;33840000 | &nbsp;&nbsp;&nbsp;&nbsp;376419 |
| &nbsp;&nbsp;&nbsp;6.450%, 10/07/2029 | &nbsp;&nbsp;&nbsp;&nbsp;33000000 | &nbsp;&nbsp;&nbsp;&nbsp;380349 |
| &nbsp;&nbsp;&nbsp;7.270%, 04/08/2026 | &nbsp;&nbsp;&nbsp;&nbsp;15300000 | &nbsp;&nbsp;&nbsp;&nbsp;185023 |
|  |  | 1525549 |
| **Indonesia – 3.1%** |  |  |
| Perusahaan Penerbit SBSN Indonesia III<br> 4.150%, 03/29/2027 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | &nbsp;&nbsp;&nbsp;&nbsp;921200 |
| Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 03/12/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261000 | &nbsp;&nbsp;&nbsp;&nbsp;202929 |
| &nbsp;&nbsp;&nbsp;2.150%, 07/18/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;774472 |
| &nbsp;&nbsp;&nbsp;2.625%, 06/14/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;907444 |
| &nbsp;&nbsp;&nbsp;3.050%, 03/12/2051 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;391092 |
| &nbsp;&nbsp;&nbsp;3.850%, 10/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;378749 |
| &nbsp;&nbsp;&nbsp;5.125%, 04/15/2027 | 6216000000 | &nbsp;&nbsp;&nbsp;&nbsp;383965 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 88 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Indonesia (continued)** |  |  |
| Republic of Indonesia (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.375%, 04/15/2032 | 30847000000 | $&nbsp;&nbsp;&nbsp;1904355 |
| &nbsp;&nbsp;&nbsp;6.500%, 06/15/2025 | 27798000000 | &nbsp;&nbsp;&nbsp;1800306 |
| &nbsp;&nbsp;&nbsp;6.625%, 05/15/2033 | &nbsp;&nbsp;6431000000 | &nbsp;&nbsp;&nbsp;&nbsp;401410 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/15/2035 to 05/15/2038 | 10834000000 | &nbsp;&nbsp;&nbsp;&nbsp;716364 |
| &nbsp;&nbsp;&nbsp;8.125%, 05/15/2024 | &nbsp;&nbsp;3514000000 | &nbsp;&nbsp;&nbsp;&nbsp;232794 |
| &nbsp;&nbsp;&nbsp;8.375%, 09/15/2026 | 12897000000 | &nbsp;&nbsp;&nbsp;&nbsp;884576 |
| &nbsp;&nbsp;&nbsp;8.750%, 05/15/2031 | 17423000000 | &nbsp;&nbsp;&nbsp;1246292 |
| &nbsp;&nbsp;&nbsp;9.000%, 03/15/2029 | &nbsp;&nbsp;6709000000 | &nbsp;&nbsp;&nbsp;&nbsp;479359 |
|  |  | 11625307 |
| **Ireland – 0.1%** |  |  |
| Republic of Ireland<br> 1.100%, 05/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;301967 |
| **Italy – 0.5%** |  |  |
| Republic of Italy |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 02/17/2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742000 | &nbsp;&nbsp;&nbsp;&nbsp;643612 |
| &nbsp;&nbsp;&nbsp;1.850%, 07/01/2025 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;1362341 |
|  |  | &nbsp;&nbsp;&nbsp;2005953 |
| **Japan – 1.1%** |  |  |
| Government of Japan |  |  |
| &nbsp;&nbsp;&nbsp;0.005%, 03/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;107000000 | &nbsp;&nbsp;&nbsp;&nbsp;808856 |
| &nbsp;&nbsp;&nbsp;0.100%, 06/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;447900000 | &nbsp;&nbsp;&nbsp;3416411 |
|  |  | &nbsp;&nbsp;&nbsp;4225267 |
| **Malaysia – 1.2%** |  |  |
| Government of Malaysia |  |  |
| &nbsp;&nbsp;&nbsp;3.733%, 06/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp;432761 |
| &nbsp;&nbsp;&nbsp;3.828%, 07/05/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965000 | &nbsp;&nbsp;&nbsp;&nbsp;431857 |
| &nbsp;&nbsp;&nbsp;3.844%, 04/15/2033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4313000 | &nbsp;&nbsp;&nbsp;&nbsp;955808 |
| &nbsp;&nbsp;&nbsp;3.882%, 03/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835000 | &nbsp;&nbsp;&nbsp;&nbsp;646408 |
| &nbsp;&nbsp;&nbsp;3.899%, 11/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370000 | &nbsp;&nbsp;&nbsp;&nbsp;765867 |
| &nbsp;&nbsp;&nbsp;3.900%, 11/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805000 | &nbsp;&nbsp;&nbsp;&nbsp;410631 |
| &nbsp;&nbsp;&nbsp;4.059%, 09/30/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3895000 | &nbsp;&nbsp;&nbsp;&nbsp;888880 |
|  |  | &nbsp;&nbsp;&nbsp;4532212 |
| **Mexico – 1.7%** |  |  |
| Government of Mexico |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 03/06/2025 | &nbsp;&nbsp;&nbsp;&nbsp;22890000 | &nbsp;&nbsp;&nbsp;1064934 |
| &nbsp;&nbsp;&nbsp;5.750%, 03/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp;24110000 | &nbsp;&nbsp;&nbsp;1119108 |
| &nbsp;&nbsp;&nbsp;7.500%, 06/03/2027 | &nbsp;&nbsp;&nbsp;&nbsp;44140000 | &nbsp;&nbsp;&nbsp;2135002 |
| &nbsp;&nbsp;&nbsp;7.750%, 05/29/2031 | &nbsp;&nbsp;&nbsp;&nbsp;40230000 | &nbsp;&nbsp;&nbsp;1910391 |
|  |  | &nbsp;&nbsp;&nbsp;6229435 |
| **New Zealand – 1.5%** |  |  |
| Government of New Zealand |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 05/15/2024 to 05/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6945000 | &nbsp;&nbsp;&nbsp;4018504 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;477955 |
| New Zealand Local Government<br> Funding Agency |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 04/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;381602 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190000 | &nbsp;&nbsp;&nbsp;&nbsp;732459 |
|  |  | &nbsp;&nbsp;&nbsp;5610520 |
| **Norway – 1.5%** |  |  |
| Kingdom of Norway |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 02/19/2026 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7640000 | &nbsp;&nbsp;&nbsp;&nbsp;743385 |
| &nbsp;&nbsp;&nbsp;1.750%, 03/13/2025 to 02/17/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;19650000 | &nbsp;&nbsp;&nbsp;1929041 |
| &nbsp;&nbsp;&nbsp;2.000%, 05/24/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5505000 | &nbsp;&nbsp;&nbsp;&nbsp;559441 |
| &nbsp;&nbsp;&nbsp;2.125%, 05/18/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;10990000 | &nbsp;&nbsp;&nbsp;1027015 |
| Kommunalbanken AS |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 07/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;&nbsp;726766 |
| &nbsp;&nbsp;&nbsp;5.250%, 07/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764000 | &nbsp;&nbsp;&nbsp;&nbsp;528173 |
|  |  | &nbsp;&nbsp;&nbsp;5513821 |
| **Philippines – 0.5%** |  |  |
| Republic of the Philippines |  |  |
| &nbsp;&nbsp;&nbsp;0.875%, 05/17/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465000 | &nbsp;&nbsp;&nbsp;1378213 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Philippines (continued)** |  |  |
| Republic of the Philippines (continued) |  |  |
| &nbsp;&nbsp;&nbsp;6.250%, 01/14/2036 | &nbsp;&nbsp;&nbsp;&nbsp;43000000 | $&nbsp;&nbsp;&nbsp;&nbsp;701878 |
|  |  | &nbsp;&nbsp;&nbsp;2080091 |
| **Portugal – 0.5%** |  |  |
| Republic of Portugal |  |  |
| &nbsp;&nbsp;&nbsp;0.700%, 10/15/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;419790 |
| &nbsp;&nbsp;&nbsp;1.650%, 07/16/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1780000 | &nbsp;&nbsp;&nbsp;1618088 |
|  |  | &nbsp;&nbsp;&nbsp;2037878 |
| **Qatar – 0.2%** |  |  |
| State of Qatar<br> 4.817%, 03/14/2049 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;690475 |
| **Singapore – 0.3%** |  |  |
| Republic of Singapore |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 11/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905000 | &nbsp;&nbsp;&nbsp;&nbsp;638108 |
| &nbsp;&nbsp;&nbsp;2.375%, 06/01/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;478651 |
|  |  | &nbsp;&nbsp;&nbsp;1116759 |
| **South Korea – 1.3%** |  |  |
| Republic of Korea |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 06/10/2027 | 1303700000 | &nbsp;&nbsp;&nbsp;&nbsp;959600 |
| &nbsp;&nbsp;&nbsp;2.375%, 03/10/2027 | 3972830000 | &nbsp;&nbsp;&nbsp;2966109 |
| &nbsp;&nbsp;&nbsp;3.125%, 09/10/2024 | 1248530000 | &nbsp;&nbsp;&nbsp;&nbsp;977174 |
|  |  | &nbsp;&nbsp;&nbsp;4902883 |
| **Spain – 0.5%** |  |  |
| Kingdom of Spain |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 07/30/2024 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;899096 |
| &nbsp;&nbsp;&nbsp;0.800%, 07/30/2027 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;834834 |
|  |  | &nbsp;&nbsp;&nbsp;1733930 |
| **Sweden – 0.3%** |  |  |
| Kingdom of Sweden<br> 0.125%, 04/24/2023 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;1015031 |
| **United Arab Emirates – 0.4%** |  |  |
| Government of Abu Dhabi |  |  |
| &nbsp;&nbsp;&nbsp;1.700%, 03/02/2031 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;383353 |
| &nbsp;&nbsp;&nbsp;3.125%, 04/16/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | &nbsp;&nbsp;&nbsp;&nbsp;676894 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/16/2050 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;401988 |
|  |  | &nbsp;&nbsp;&nbsp;1462235 |
| **United Kingdom – 0.4%** |  |  |
| Government of United Kingdom |  |  |
| &nbsp;&nbsp;&nbsp;0.125%, 01/31/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;1245293 |
| &nbsp;&nbsp;&nbsp;0.250%, 01/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;376237 |
|  |  | &nbsp;&nbsp;&nbsp;1621530 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $95,123,503) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $95,123,503) | $83820695 |
| **CORPORATE BONDS – 48.5%** | **CORPORATE BONDS – 48.5%** |  |
| **Communication services – 5.4%** |  |  |
| AT&T, Inc.<br> 0.900%, 03/25/2024 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;299130 |
| CCO Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.250%, 02/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;1319479 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 to 06/01/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1245000 | &nbsp;&nbsp;&nbsp;&nbsp;998511 |
| &nbsp;&nbsp;&nbsp;4.750%, 03/01/2030 (A) | &nbsp;&nbsp;&nbsp;&nbsp;1030000 | &nbsp;&nbsp;&nbsp;&nbsp;888287 |
| Cellnex Telecom SA<br> 1.875%, 06/26/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;437130 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;179057 |
| &nbsp;&nbsp;&nbsp;5.125%, 07/01/2049 | &nbsp;&nbsp;&nbsp;&nbsp;1395000 | &nbsp;&nbsp;&nbsp;1054846 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;646765 |
| CT Trust<br> 5.125%, 02/03/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;316113 |
| Globo Comunicacao e Participacoes SA<br> 5.500%, 01/14/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;469017 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 89 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| IHS Holding, Ltd.<br> 6.250%, 11/29/2028 (A) | $&nbsp;&nbsp;370000 | $&nbsp;&nbsp;&nbsp;&nbsp;298427 |
| LCPR Senior Secured Financing DAC<br> 5.125%, 07/15/2029 (A) | &nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;650300 |
| Match Group Holdings II LLC<br> 4.125%, 08/01/2030 (A) | &nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;575539 |
| Millicom International Cellular SA<br> 4.500%, 04/27/2031 (A) | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;445793 |
| News Corp.<br> 3.875%, 05/15/2029 (A) | 1685000 | &nbsp;&nbsp;&nbsp;1461552 |
| Sirius XM Radio, Inc.<br> 4.125%, 07/01/2030 (A) | 1160000 | &nbsp;&nbsp;&nbsp;&nbsp;957244 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.625%, 04/15/2026 to 02/15/2029 | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;583598 |
| &nbsp;&nbsp;&nbsp;2.875%, 02/15/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;330531 |
| &nbsp;&nbsp;&nbsp;3.375%, 04/15/2029 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;413962 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2031 | &nbsp;&nbsp;785000 | &nbsp;&nbsp;&nbsp;&nbsp;678083 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/01/2028 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;160427 |
| Total Play Telecomunicaciones SA de CV<br> 7.500%, 11/12/2025 (A) | &nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;784687 |
| Verizon Communications, Inc.<br> 0.750%, 03/22/2024 | &nbsp;&nbsp;236000 | &nbsp;&nbsp;&nbsp;&nbsp;223889 |
| Virgin Media Finance PLC<br> 5.000%, 07/15/2030 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;577483 |
| Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 08/15/2030 (A) | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;559735 |
| &nbsp;&nbsp;&nbsp;5.500%, 05/15/2029 (A) | 1161000 | &nbsp;&nbsp;&nbsp;1040001 |
| Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/31/2031 (A) | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;627454 |
| &nbsp;&nbsp;&nbsp;4.250%, 01/31/2031 (A) | $1225000 | &nbsp;&nbsp;&nbsp;&nbsp;991656 |
| VTR Comunicaciones SpA |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 04/15/2029 (A) | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;183488 |
| &nbsp;&nbsp;&nbsp;5.125%, 01/15/2028 (A) | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;257737 |
| VTR Finance NV<br> 6.375%, 07/15/2028 (A) | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;193951 |
| WMG Acquisition Corp.<br> 3.000%, 02/15/2031 (A) | 1910000 | &nbsp;&nbsp;&nbsp;1526262 |
|  |  | 20130134 |
| **Consumer discretionary – 5.6%** |  |  |
| BMW Finance NV<br> 1.000%, 11/14/2024 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;422008 |
| Carnival Corp.<br> 5.750%, 03/01/2027 (A) | $1165000 | &nbsp;&nbsp;&nbsp;&nbsp;831857 |
| Ford Motor Company<br> 3.250%, 02/12/2032 | &nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;434966 |
| Ford Motor Credit Company LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.748%, 06/14/2024 | &nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp;361017 |
| &nbsp;&nbsp;&nbsp;2.900%, 02/16/2028 | $&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;297331 |
| &nbsp;&nbsp;&nbsp;3.625%, 06/17/2031 | 1220000 | &nbsp;&nbsp;&nbsp;&nbsp;958381 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/13/2030 | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;209314 |
| &nbsp;&nbsp;&nbsp;4.125%, 08/17/2027 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;183475 |
| &nbsp;&nbsp;&nbsp;4.542%, 08/01/2026 | &nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;410025 |
| &nbsp;&nbsp;&nbsp;4.950%, 05/28/2027 | 1115000 | &nbsp;&nbsp;&nbsp;1040184 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.200%, 10/15/2024 | 1090000 | &nbsp;&nbsp;&nbsp;1009086 |
| &nbsp;&nbsp;&nbsp;3.500%, 11/07/2024 | &nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;794423 |
| Hilton Domestic Operating<br> Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 02/15/2032 (A) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;388388 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2030 | &nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;643409 |
| Hyatt Hotels Corp.<br> 6.000%, 04/23/2030 | &nbsp;&nbsp;744000 | &nbsp;&nbsp;&nbsp;&nbsp;727800 |
| MercadoLibre, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 01/14/2026 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;506862 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| MercadoLibre, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 01/14/2031 | $&nbsp;&nbsp;450000 | $&nbsp;&nbsp;&nbsp;&nbsp;347895 |
| MGM Resorts International<br> 4.750%, 10/15/2028 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91650 |
| New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/15/2029 (A) | 1618000 | &nbsp;&nbsp;&nbsp;1387943 |
| &nbsp;&nbsp;&nbsp;3.875%, 01/15/2028 (A) | &nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;867709 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/15/2030 (A) | 2124000 | &nbsp;&nbsp;&nbsp;1720036 |
| Premier Entertainment Sub LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.625%, 09/01/2029 (A) | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;154854 |
| &nbsp;&nbsp;&nbsp;5.875%, 09/01/2031 (A) | &nbsp;&nbsp;503000 | &nbsp;&nbsp;&nbsp;&nbsp;355822 |
| Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 04/01/2028 (A) | 1235000 | &nbsp;&nbsp;&nbsp;&nbsp;985586 |
| &nbsp;&nbsp;&nbsp;11.625%, 08/15/2027 (A) | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;265117 |
| Travel + Leisure Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 12/01/2029 (A) | &nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;729273 |
| &nbsp;&nbsp;&nbsp;6.625%, 07/31/2026 (A) | &nbsp;&nbsp;372000 | &nbsp;&nbsp;&nbsp;&nbsp;363913 |
| Wyndham Hotels & Resorts, Inc.<br> 4.375%, 08/15/2028 (A) | &nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;592152 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 03/15/2031 | 1795000 | &nbsp;&nbsp;&nbsp;1505108 |
| &nbsp;&nbsp;&nbsp;4.625%, 01/31/2032 | &nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;773436 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/15/2030 (A) | 1773000 | &nbsp;&nbsp;&nbsp;1626728 |
|  |  | 20985748 |
| **Consumer staples – 3.4%** |  |  |
| Becle SAB de CV<br> 2.500%, 10/14/2031 (A) | &nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;617715 |
| Darling Ingredients, Inc.<br> 6.000%, 06/15/2030 (A) | 1295000 | &nbsp;&nbsp;&nbsp;1265863 |
| JBS USA LUX SA |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 01/15/2032 (A) | 1070000 | &nbsp;&nbsp;&nbsp;&nbsp;866700 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/01/2033 (A) | &nbsp;&nbsp;735000 | &nbsp;&nbsp;&nbsp;&nbsp;701028 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 06/01/2026 | &nbsp;&nbsp;662000 | &nbsp;&nbsp;&nbsp;&nbsp;619512 |
| &nbsp;&nbsp;&nbsp;3.875%, 05/15/2027 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;353497 |
| &nbsp;&nbsp;&nbsp;4.250%, 03/01/2031 | 1525000 | &nbsp;&nbsp;&nbsp;1425654 |
| &nbsp;&nbsp;&nbsp;4.375%, 06/01/2046 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;227529 |
| &nbsp;&nbsp;&nbsp;4.625%, 10/01/2039 | 1090000 | &nbsp;&nbsp;&nbsp;&nbsp;956183 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | 1220000 | &nbsp;&nbsp;&nbsp;1323534 |
| &nbsp;&nbsp;&nbsp;7.125%, 08/01/2039 (A) | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;181345 |
| MARB BondCo PLC<br> 3.950%, 01/29/2031 (A) | 1205000 | &nbsp;&nbsp;&nbsp;&nbsp;924939 |
| Natura & Company Luxembourg Holdings Sarl<br> 6.000%, 04/19/2029 (A) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;341325 |
| Natura Cosmeticos SA<br> 4.125%, 05/03/2028 (A) | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;677288 |
| NBM US Holdings, Inc.<br> 7.000%, 05/14/2026 (A) | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;203567 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 09/15/2031 (A) | &nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;609479 |
| &nbsp;&nbsp;&nbsp;5.500%, 12/15/2029 (A) | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;257901 |
| &nbsp;&nbsp;&nbsp;5.625%, 01/15/2028 (A) | 1255000 | &nbsp;&nbsp;&nbsp;1181388 |
|  |  | 12734447 |
| **Energy – 6.2%** |  |  |
| Aker BP ASA<br> 3.750%, 01/15/2030 (A) | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;659770 |
| Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 02/07/2028 | &nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;355542 |
| &nbsp;&nbsp;&nbsp;5.250%, 06/15/2037 | $&nbsp;&nbsp;194000 | &nbsp;&nbsp;&nbsp;&nbsp;176727 |
| &nbsp;&nbsp;&nbsp;5.400%, 06/15/2047 | &nbsp;&nbsp;777000 | &nbsp;&nbsp;&nbsp;&nbsp;694978 |
| &nbsp;&nbsp;&nbsp;6.750%, 11/15/2039 | 1806000 | &nbsp;&nbsp;&nbsp;1873838 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2031 | 1252000 | &nbsp;&nbsp;&nbsp;1065903 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/01/2029 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;350696 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 90 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| Continental Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 04/01/2032 (A) | $1206000 | $&nbsp;&nbsp;&nbsp;&nbsp;893270 |
| &nbsp;&nbsp;&nbsp;5.750%, 01/15/2031 (A) | 1490000 | &nbsp;&nbsp;&nbsp;1386982 |
| Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/02/2031 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;332270 |
| &nbsp;&nbsp;&nbsp;5.375%, 06/26/2026 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;216925 |
| &nbsp;&nbsp;&nbsp;5.875%, 05/28/2045 | &nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;163574 |
| &nbsp;&nbsp;&nbsp;6.875%, 04/29/2030 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;426211 |
| Enbridge, Inc.<br> 3.125%, 11/15/2029 | &nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;863138 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 05/15/2026 (A) | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;174617 |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2031 (A) | 2235000 | &nbsp;&nbsp;&nbsp;1894020 |
| &nbsp;&nbsp;&nbsp;3.900%, 10/01/2027 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;300029 |
| Kinder Morgan, Inc.<br> 5.300%, 12/01/2034 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;215246 |
| MC Brazil Downstream Trading SARL<br> 7.250%, 06/30/2031 (A) | &nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;787496 |
| Medco Oak Tree Pte, Ltd.<br> 7.375%, 05/14/2026 (A) | 1180000 | &nbsp;&nbsp;&nbsp;1121485 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 08/15/2026 | &nbsp;&nbsp;154000 | &nbsp;&nbsp;&nbsp;&nbsp;141488 |
| &nbsp;&nbsp;&nbsp;3.400%, 04/15/2026 | &nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;222713 |
| &nbsp;&nbsp;&nbsp;6.125%, 01/01/2031 | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;782122 |
| &nbsp;&nbsp;&nbsp;6.625%, 09/01/2030 | 1160000 | &nbsp;&nbsp;&nbsp;1198721 |
| &nbsp;&nbsp;&nbsp;7.500%, 05/01/2031 | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;357937 |
| Ovintiv, Inc.<br> 6.500%, 08/15/2034 to 02/01/2038 | 1375000 | &nbsp;&nbsp;&nbsp;1375219 |
| Pertamina Persero PT |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 01/21/2030 (A) | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;221240 |
| &nbsp;&nbsp;&nbsp;3.650%, 07/30/2029 (A) | &nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;269959 |
| Petrorio Luxembourg Trading Sarl<br> 6.125%, 06/09/2026 (A) | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;480639 |
| QatarEnergy Trading LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 07/12/2031 (A) | &nbsp;&nbsp;935000 | &nbsp;&nbsp;&nbsp;&nbsp;773563 |
| &nbsp;&nbsp;&nbsp;3.300%, 07/12/2051 (A) | &nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;217563 |
| Southwestern Energy Company<br> 5.700%, 01/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16702 |
| The Williams Companies, Inc.<br> 3.500%, 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69942 |
| TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 10/12/2024 | &nbsp;&nbsp;631000 | &nbsp;&nbsp;&nbsp;&nbsp;584006 |
| &nbsp;&nbsp;&nbsp;4.100%, 04/15/2030 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;971031 |
| Transcontinental Gas Pipe Line Company LLC<br> 3.250%, 05/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69423 |
| Var Energi ASA<br> 7.500%, 01/15/2028 (A) | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;692649 |
| Western Midstream Operating LP<br> 4.300%, 02/01/2030 | &nbsp;&nbsp;975000 | &nbsp;&nbsp;&nbsp;&nbsp;851097 |
|  |  | 23248731 |
| **Financials – 8.7%** |  |  |
| American International Group, Inc.<br> 8.175%, (8.175% to 5-15-38, then 3 month LIBOR + 4.195%), 05/15/2058 | 1700000 | &nbsp;&nbsp;&nbsp;1887000 |
| Asian Development Bank<br> 3.000%, 10/14/2026 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;367248 |
| Banco Actinver SA |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 12/18/2032 (A) | $&nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;117175 |
| &nbsp;&nbsp;&nbsp;9.500%, 12/18/2032 (A) | 5840000 | &nbsp;&nbsp;&nbsp;&nbsp;157340 |
| Bank of America Corp.<br> 0.981%, (0.981% to 9-25-24, then SOFR + 0.910%), 09/25/2025 | $&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;570633 |
| Berkshire Hathaway Finance Corp.<br> 2.375%, 06/19/2039 | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;521785 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Berkshire Hathaway, Inc., Zero Coupon<br> 0.000%, 03/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | $&nbsp;&nbsp;&nbsp;&nbsp;966159 |
| BNG Bank NV<br> 0.250%, 06/07/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;406019 |
| BNP Paribas SA<br> 2.219%, (2.219% to 6-9-25, then SOFR + 2.074%), 06/09/2026 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | &nbsp;&nbsp;&nbsp;&nbsp;908957 |
| Capital One Financial Corp.<br> 0.800%, 06/12/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;157727 |
| Chubb INA Holdings, Inc.<br> 0.300%, 12/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp;&nbsp;&nbsp;872315 |
| Citigroup, Inc.<br> 2.563%, (3 month EURIBOR + 0.500%), 03/21/2023 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;572896 |
| DB Insurance Company, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.512%, 05/25/2024 | 1000000000 | &nbsp;&nbsp;&nbsp;&nbsp;776696 |
| &nbsp;&nbsp;&nbsp;3.865%, 05/25/2027 | 1000000000 | &nbsp;&nbsp;&nbsp;&nbsp;760065 |
| European Investment Bank<br> 3.778%, (SONIA + 0.350%), 06/29/2023 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;665649 |
| Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 01/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;378249 |
| &nbsp;&nbsp;&nbsp;2.750%, 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;327154 |
| International Bank for Reconstruction &<br> Development |  |  |
| &nbsp;&nbsp;&nbsp;1.800%, 01/19/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;426066 |
| &nbsp;&nbsp;&nbsp;1.900%, 01/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;979396 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | &nbsp;&nbsp;&nbsp;&nbsp;415878 |
| International Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.375%, 09/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp;688858 |
| &nbsp;&nbsp;&nbsp;2.550%, 09/18/2023 | &nbsp;&nbsp;&nbsp;&nbsp;3110000 | &nbsp;&nbsp;&nbsp;&nbsp;447960 |
| &nbsp;&nbsp;&nbsp;3.600%, 02/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1395000 | &nbsp;&nbsp;&nbsp;&nbsp;932208 |
| Intesa Sanpaolo SpA<br> 4.198%, (4.198% to 6-1-31, then 1 Year CMT + 2.600%), 06/01/2032 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;543684 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;0.563%, (0.563% to 2-16-24, then SOFR + 0.420%), 02/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1020000 | &nbsp;&nbsp;&nbsp;&nbsp;961941 |
| &nbsp;&nbsp;&nbsp;0.653%, (0.653% to 9-16-23, then 3 month CME Term SOFR + 0.600%) , 09/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;916130 |
| MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/15/2033 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;301181 |
| &nbsp;&nbsp;&nbsp;3.625%, 09/01/2030 to 11/01/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;2374000 | 1969784 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;636040 |
| Nordea Eiendomskreditt AS |  |  |
| &nbsp;&nbsp;&nbsp;3.490%, (3 month NIBOR + 0.300%), 06/21/2023 (B) | &nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;715269 |
| &nbsp;&nbsp;&nbsp;3.560%, (3 month NIBOR + 0.340%), 06/19/2024 (B) | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | 1227364 |
| Nordic Investment Bank<br> 1.875%, 04/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;3920000 | &nbsp;&nbsp;&nbsp;&nbsp;392578 |
| Popular, Inc.<br> 6.125%, 09/14/2023 | $&nbsp;&nbsp;&nbsp;&nbsp;1625000 | 1610781 |
| Prudential Financial, Inc.<br> 5.625%, (5.625% to 6-15-23, then 3 month LIBOR + 3.920%), 06/15/2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;402825 |
| QNB Finance, Ltd.<br> 3.500%, 03/28/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;322651 |
| Royal Bank of Canada<br> 4.200%, (4.200% to 2-24-27, then 5 Year Canada Government Bond Yield + 2.710%), 02/24/2027 (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;351363 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 91 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Shinhan Financial Group Company, Ltd.<br> 2.875%, (2.875% to 5-12-26, then 5 Year CMT + 2.064%), 05/12/2026 (A)(C) | $&nbsp;&nbsp;880000 | $&nbsp;&nbsp;&nbsp;&nbsp;746240 |
| Starwood Property Trust, Inc.<br> 4.375%, 01/15/2027 (A) | &nbsp;&nbsp;335000 | &nbsp;&nbsp;&nbsp;&nbsp;293150 |
| Swiss Insured Brazil Power Finance Sarl<br> 9.850%, 07/16/2032 (A) | 8090710 | &nbsp;&nbsp;&nbsp;1321698 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 01/26/2028 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70201 |
| &nbsp;&nbsp;&nbsp;1.375%, 05/15/2024 | &nbsp;&nbsp;983000 | &nbsp;&nbsp;&nbsp;1029898 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/01/2028 | &nbsp;&nbsp;328000 | &nbsp;&nbsp;&nbsp;&nbsp;312279 |
| The Toronto-Dominion Bank<br> 8.125%, (8.125% to 10-31-27, then 5 Year CMT + 4.075%), 10/31/2082 | $&nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;998400 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;0.850%, 06/07/2024 | 2560000 | &nbsp;&nbsp;&nbsp;2645187 |
| &nbsp;&nbsp;&nbsp;3.700%, (3.700% to 1-15-27, then 5 Year CMT + 2.541%), 01/15/2027 (C) | $&nbsp;&nbsp;637000 | &nbsp;&nbsp;&nbsp;&nbsp;520748 |
|  |  | 32592825 |
| **Health care – 4.3%** |  |  |
| Allergan Funding SCS |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 06/01/2024 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;530111 |
| &nbsp;&nbsp;&nbsp;2.625%, 11/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;291289 |
| Becton Dickinson Euro Finance Sarl<br> 1.208%, 06/04/2026 | &nbsp;&nbsp;745000 | &nbsp;&nbsp;&nbsp;&nbsp;730281 |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 03/01/2031 | $&nbsp;&nbsp;905000 | &nbsp;&nbsp;&nbsp;&nbsp;708138 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/15/2030 | 1795000 | &nbsp;&nbsp;&nbsp;1471450 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2030 | 1765000 | &nbsp;&nbsp;&nbsp;1492078 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/15/2029 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;237597 |
| DH Europe Finance II Sarl<br> 0.450%, 03/18/2028 | 1630000 | &nbsp;&nbsp;&nbsp;1490535 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2030 | $3693000 | &nbsp;&nbsp;&nbsp;3185125 |
| &nbsp;&nbsp;&nbsp;4.125%, 06/15/2029 | 1175000 | &nbsp;&nbsp;&nbsp;1072647 |
| &nbsp;&nbsp;&nbsp;5.375%, 02/01/2025 | 1305000 | &nbsp;&nbsp;&nbsp;1303420 |
| Rede D'or Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/22/2030 (A) | &nbsp;&nbsp;367000 | &nbsp;&nbsp;&nbsp;&nbsp;315763 |
| &nbsp;&nbsp;&nbsp;4.950%, 01/17/2028 (A) | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;286328 |
| Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.600%, 12/01/2023 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;192088 |
| &nbsp;&nbsp;&nbsp;1.150%, 06/15/2025 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;576398 |
| Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 03/01/2028 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;597764 |
| &nbsp;&nbsp;&nbsp;0.750%, 09/12/2024 | &nbsp;&nbsp;282000 | &nbsp;&nbsp;&nbsp;&nbsp;288751 |
| &nbsp;&nbsp;&nbsp;1.400%, 01/23/2026 | &nbsp;&nbsp;468000 | &nbsp;&nbsp;&nbsp;&nbsp;469790 |
| UnitedHealth Group, Inc.<br> 0.550%, 05/15/2024 | $&nbsp;&nbsp;395000 | &nbsp;&nbsp;&nbsp;&nbsp;372682 |
| Zimmer Biomet Holdings, Inc.<br> 1.450%, 11/22/2024 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;585698 |
|  |  | 16197933 |
| **Industrials – 4.7%** |  |  |
| AECOM<br> 5.125%, 03/15/2027 | 1235000 | &nbsp;&nbsp;&nbsp;1188688 |
| AerCap Ireland Capital DAC<br> 1.150%, 10/29/2023 | 1275000 | &nbsp;&nbsp;&nbsp;1226786 |
| Airbus SE<br> 1.625%, 06/09/2030 | &nbsp;&nbsp;255000 | &nbsp;&nbsp;&nbsp;&nbsp;238775 |
| American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.500%, 04/20/2026 (A) | $&nbsp;&nbsp;970000 | &nbsp;&nbsp;&nbsp;&nbsp;932797 |
| &nbsp;&nbsp;&nbsp;5.750%, 04/20/2029 (A) | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;722025 |
| Canadian Pacific Railway Company<br> 1.350%, 12/02/2024 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;293612 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| DAE Funding LLC<br> 3.375%, 03/20/2028 (A) | $&nbsp;&nbsp;640000 | $&nbsp;&nbsp;&nbsp;&nbsp;566400 |
| Delta Air Lines 2020-1 Class A Pass Through Trust<br> 2.500%, 06/10/2028 | &nbsp;&nbsp;418015 | &nbsp;&nbsp;&nbsp;&nbsp;354969 |
| Delta Air Lines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.900%, 10/28/2024 | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;511584 |
| &nbsp;&nbsp;&nbsp;4.500%, 10/20/2025 (A) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;195116 |
| &nbsp;&nbsp;&nbsp;4.750%, 10/20/2028 (A) | 3217000 | &nbsp;&nbsp;&nbsp;3023894 |
| &nbsp;&nbsp;&nbsp;7.375%, 01/15/2026 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;168587 |
| Indian Railway Finance Corp., Ltd.<br> 3.249%, 02/13/2030 (A) | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;556010 |
| Johnson Controls International PLC<br> 0.375%, 09/15/2027 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;220149 |
| Movida Europe SA<br> 5.250%, 02/08/2031 (A) | $&nbsp;&nbsp;235000 | &nbsp;&nbsp;&nbsp;&nbsp;176194 |
| Simpar Finance Sarl<br> 10.750%, 02/12/2028 (A) | 2602000 | &nbsp;&nbsp;&nbsp;&nbsp;355058 |
| Singapore Airlines, Ltd.<br> 3.375%, 01/19/2029 | $&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;374957 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;5.040%, 05/01/2027 | 1035000 | &nbsp;&nbsp;&nbsp;1023592 |
| &nbsp;&nbsp;&nbsp;5.150%, 05/01/2030 | 2425000 | &nbsp;&nbsp;&nbsp;2365925 |
| Uber Technologies, Inc.<br> 8.000%, 11/01/2026 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;501721 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2031 | 1120000 | &nbsp;&nbsp;&nbsp;&nbsp;938885 |
| &nbsp;&nbsp;&nbsp;4.000%, 07/15/2030 | &nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;564166 |
| &nbsp;&nbsp;&nbsp;4.875%, 01/15/2028 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;502255 |
| &nbsp;&nbsp;&nbsp;6.000%, 12/15/2029 (A) | &nbsp;&nbsp;670000 | &nbsp;&nbsp;&nbsp;&nbsp;665813 |
|  |  | 17667958 |
| **Information technology – 1.1%** |  |  |
| Apple, Inc.<br> 0.875%, 05/24/2025 | &nbsp;&nbsp;865000 | &nbsp;&nbsp;&nbsp;&nbsp;880007 |
| CDW LLC<br> 4.250%, 04/01/2028 | $&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;151854 |
| Cloud Software Group Holdings, Inc.<br> 6.500%, 03/31/2029 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;362181 |
| Dell International LLC<br> 8.350%, 07/15/2046 | &nbsp;&nbsp;541000 | &nbsp;&nbsp;&nbsp;&nbsp;616341 |
| Fidelity National Information<br> Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.000%, 12/03/2028 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;379024 |
| &nbsp;&nbsp;&nbsp;1.500%, 05/21/2027 | &nbsp;&nbsp;820000 | &nbsp;&nbsp;&nbsp;&nbsp;788739 |
| Fiserv, Inc.<br> 1.125%, 07/01/2027 | &nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;&nbsp;275655 |
| Gartner, Inc.<br> 3.750%, 10/01/2030 (A) | $&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;409434 |
| SK Hynix, Inc.<br> 1.500%, 01/19/2026 (A) | &nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;420304 |
|  |  | &nbsp;&nbsp;&nbsp;4283539 |
| **Materials – 4.5%** |  |  |
| Ardagh Metal Packaging Finance USA LLC<br> 3.250%, 09/01/2028 (A) | &nbsp;&nbsp;960000 | &nbsp;&nbsp;&nbsp;&nbsp;815467 |
| Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.875%, 08/15/2030 | 1220000 | &nbsp;&nbsp;&nbsp;&nbsp;973706 |
| &nbsp;&nbsp;&nbsp;4.875%, 03/15/2026 | 1035000 | &nbsp;&nbsp;&nbsp;1002532 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/15/2028 | 1120000 | &nbsp;&nbsp;&nbsp;1150430 |
| Berry Global, Inc.<br> 5.625%, 07/15/2027 (A) | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;575568 |
| Braskem Idesa SAPI<br> 6.990%, 02/20/2032 (A) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;342633 |
| Braskem Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 01/31/2030 (A) | &nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;484761 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 92 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials (continued)** |  |  |
| Braskem Netherlands<br> Finance BV (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.875%, 01/31/2050 (A) | $&nbsp;&nbsp;585000 | $&nbsp;&nbsp;&nbsp;&nbsp;453180 |
| Cemex SAB de CV<br> 3.875%, 07/11/2031 (A) | 1355000 | &nbsp;&nbsp;&nbsp;1143667 |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 03/01/2029 (A)(D) | 1475000 | &nbsp;&nbsp;&nbsp;1309063 |
| &nbsp;&nbsp;&nbsp;4.875%, 03/01/2031 (A)(D) | &nbsp;&nbsp;790000 | &nbsp;&nbsp;&nbsp;&nbsp;697563 |
| CSN Islands XI Corp.<br> 6.750%, 01/28/2028 (A) | &nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp;796750 |
| Ecolab, Inc.<br> 1.000%, 01/15/2024 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;346617 |
| FMG Resources August 2006 Proprietary, Ltd.<br> 4.375%, 04/01/2031 (A) | $&nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;365941 |
| Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 03/01/2028 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;129501 |
| &nbsp;&nbsp;&nbsp;4.625%, 08/01/2030 | &nbsp;&nbsp;985000 | &nbsp;&nbsp;&nbsp;&nbsp;917424 |
| &nbsp;&nbsp;&nbsp;5.450%, 03/15/2043 | 1905000 | &nbsp;&nbsp;&nbsp;1718386 |
| FS Luxembourg Sarl<br> 10.000%, 12/15/2025 (A) | &nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;873854 |
| Indonesia Asahan Aluminium Persero PT<br> 4.750%, 05/15/2025 (A) | 1090000 | &nbsp;&nbsp;&nbsp;1071948 |
| Sealed Air Corp.<br> 5.000%, 04/15/2029 (A) | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;399500 |
| St. Mary's Cement, Inc.<br> 5.750%, 01/28/2027 (A) | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;830423 |
| Westlake Corp.<br> 0.875%, 08/15/2024 | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;441045 |
|  |  | 16839959 |
| **Real estate – 1.9%** |  |  |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 01/15/2028 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;237398 |
| &nbsp;&nbsp;&nbsp;1.950%, 05/22/2026 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;301792 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.350%, 07/15/2025 | $&nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;&nbsp;141914 |
| &nbsp;&nbsp;&nbsp;2.250%, 01/15/2031 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;172480 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 12/15/2029 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;200634 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/15/2030 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;198064 |
| SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 02/01/2029 | &nbsp;&nbsp;955000 | &nbsp;&nbsp;&nbsp;&nbsp;794073 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/15/2027 | 2400000 | &nbsp;&nbsp;&nbsp;2168432 |
| SBA Tower Trust<br> 6.599%, 01/15/2028 (A) | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;951488 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 08/15/2030 (A) | &nbsp;&nbsp;895000 | &nbsp;&nbsp;&nbsp;&nbsp;783273 |
| &nbsp;&nbsp;&nbsp;4.625%, 12/01/2029 (A) | &nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp;350350 |
| &nbsp;&nbsp;&nbsp;5.125%, 05/15/2032 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;694463 |
|  |  | &nbsp;&nbsp;&nbsp;6994361 |
| **Utilities – 2.7%** |  |  |
| Brazos Securitization LLC<br> 5.014%, 09/01/2031 (A) | &nbsp;&nbsp;725000 | &nbsp;&nbsp;&nbsp;&nbsp;713830 |
| DPL, Inc.<br> 4.125%, 07/01/2025 | 1330000 | &nbsp;&nbsp;&nbsp;1250200 |
| DTE Energy Company<br> 1.050%, 06/01/2025 | &nbsp;&nbsp;340000 | &nbsp;&nbsp;&nbsp;&nbsp;307960 |
| E.ON SE<br> 0.375%, 09/29/2027 | &nbsp;&nbsp;315000 | &nbsp;&nbsp;&nbsp;&nbsp;295003 |
| EDP Finance BV<br> 0.375%, 09/16/2026 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;122724 |
| Engie SA<br> 0.375%, 06/21/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;278222 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 07/15/2027 | $&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;827921 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| FirstEnergy Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;7.375%, 11/15/2031 | 1355000 | $&nbsp;&nbsp;&nbsp;&nbsp;1526069 |
| Greenko Dutch BV<br> 3.850%, 03/29/2026 (A) | &nbsp;&nbsp;587325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507919 |
| Greenko Solar Mauritius, Ltd.<br> 5.550%, 01/29/2025 (A) | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403340 |
| Greenko Wind Projects Mauritius, Ltd.<br> 5.500%, 04/06/2025 (A) | &nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723774 |
| Israel Electric Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 02/22/2032 (A) | &nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428599 |
| &nbsp;&nbsp;&nbsp;6.875%, 06/21/2023 (A) | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391872 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara<br> 4.125%, 05/15/2027 (A) | 1440000 | &nbsp;&nbsp;&nbsp;&nbsp;1382400 |
| Pinnacle West Capital Corp.<br> 1.300%, 06/15/2025 | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323191 |
| The AES Corp.<br> 3.950%, 07/15/2030 (A) | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141120 |
| WEC Energy Group, Inc.<br> 0.800%, 03/15/2024 | &nbsp;&nbsp;314000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9921624 |
| TOTAL CORPORATE BONDS (Cost $208,381,415) |  | $181597259 |
| **CONVERTIBLE BONDS – 2.4%** | **CONVERTIBLE BONDS – 2.4%** |  |
| **Communication services – 0.6%** |  |  |
| Liberty Broadband Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 09/30/2050 (A) | 1205000 | &nbsp;&nbsp;&nbsp;&nbsp;1162825 |
| &nbsp;&nbsp;&nbsp;2.750%, 09/30/2050 (A) | &nbsp;&nbsp;815000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793771 |
| Liberty Media Corp.<br> 0.500%, 12/01/2050 (A) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498628 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2455224 |
| **Consumer discretionary – 0.7%** |  |  |
| Burlington Stores, Inc.<br> 2.250%, 04/15/2025 | &nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810750 |
| Carnival Corp.<br> 5.750%, 12/01/2027 (A) | 1310000 | &nbsp;&nbsp;&nbsp;&nbsp;1169830 |
| Marriott Vacations Worldwide Corp.<br> 3.250%, 12/15/2027 (A) | &nbsp;&nbsp;755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2726143 |
| **Industrials – 1.1%** |  |  |
| Air Canada<br> 4.000%, 07/01/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593426 |
| American Airlines Group, Inc.<br> 6.500%, 07/01/2025 | 1395000 | &nbsp;&nbsp;&nbsp;&nbsp;1470330 |
| Southwest Airlines Company<br> 1.250%, 05/01/2025 (D) | &nbsp;&nbsp;915000 | &nbsp;&nbsp;&nbsp;&nbsp;1098915 |
| Uber Technologies, Inc.<br> 5.889%, 12/15/2025 (E) | &nbsp;&nbsp;945000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3958603 |
| TOTAL CONVERTIBLE BONDS (Cost $10,199,347) |  | $&nbsp;&nbsp;&nbsp;9139970 |
| **CAPITAL PREFERRED SECURITIES – 0.1%** | **CAPITAL PREFERRED SECURITIES – 0.1%** |  |
| **Financials – 0.1%** |  |  |
| USB Capital IX<br> 5.099%, (Greater of 3 month LIBOR + 1.020% or 3.500%), 01/30/2023 (B)(C) | &nbsp;&nbsp;587000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462262 |
| TOTAL CAPITAL PREFERRED SECURITIES (Cost $529,179) |  | $&nbsp;&nbsp;&nbsp;&nbsp;462262 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 93 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS – 0.0%** |  |  |
| State Board of Administration Finance Corp. (Florida)<br> 2.154%, 07/01/2030 | &nbsp;&nbsp;165000 | $&nbsp;&nbsp;&nbsp;&nbsp;135104 |
| TOTAL MUNICIPAL BONDS (Cost $128,725) | TOTAL MUNICIPAL BONDS (Cost $128,725) | $&nbsp;&nbsp;&nbsp;&nbsp;135104 |
| **TERM LOANS (F) – 0.9%** | **TERM LOANS (F) – 0.9%** |  |
| **Communication services – 0.1%** |  |  |
| SBA Senior Finance II LLC, 2018 Term Loan B (1 month LIBOR + 1.750%) 6.140%, 04/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;98235 | &nbsp;&nbsp;&nbsp;&nbsp;97799 |
| **Consumer discretionary – 0.0%** |  |  |
| Aramark Services, Inc., 2018 Term Loan B3 03/11/2025 TBD (G) | &nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;&nbsp;&nbsp;76399 |
| Whatabrands LLC, 2021 Term Loan B (1 month LIBOR + 3.250%) 7.634%, 08/03/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;76779 |
| **Industrials – 0.8%** |  |  |
| AAdvantage Loyalty IP, Ltd., 2021 Term Loan (3 month LIBOR + 4.750%) 8.993%, 04/20/2028 | &nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;601691 |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 9.996%, 06/21/2027 | &nbsp;&nbsp;751500 | &nbsp;&nbsp;&nbsp;&nbsp;771978 |
| The Hertz Corp., 2021 Term Loan B (1 month LIBOR + 3.250%) 7.630%, 06/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;86348 | &nbsp;&nbsp;&nbsp;&nbsp;84465 |
| The Hertz Corp., 2021 Term Loan C (1 month LIBOR + 3.250%) 7.630%, 06/30/2028 | &nbsp;&nbsp;&nbsp;&nbsp;16480 | &nbsp;&nbsp;&nbsp;&nbsp;16121 |
| United Airlines, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%) 8.108%, 04/21/2028 | 1549383 | 1527010 |
|  |  | 3001265 |
| TOTAL TERM LOANS (Cost $3,234,144) | TOTAL TERM LOANS (Cost $3,234,144) | $3175843 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 5.4%** |  |
| **Commercial and residential – 3.3%** |  |  |
| Arroyo Mortgage Trust<br> Series 2019-1, Class A1<br> 3.805%, 01/25/2049 (A)(H) | &nbsp;&nbsp;282821 | &nbsp;&nbsp;&nbsp;&nbsp;259776 |
| BOCA Commercial Mortgage Trust<br> Series 2022-BOCA, Class B (1 month CME Term SOFR + 2.319%)<br> 6.655%, 05/15/2039 (A)(B) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;288959 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-XL, Class A (1 month CME Term SOFR + 1.034%),<br> 5.370%, 10/15/2036 (A)(B) | 1764986 | 1743225 |
| &nbsp;&nbsp;&nbsp;Series 2021-CIP, Class A (1 month LIBOR + 0.921%),<br> 5.239%, 12/15/2038 (A)(B) | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;453499 |
| &nbsp;&nbsp;&nbsp;Series 2021-VOLT, Class A (1 month LIBOR + 0.700%),<br> 5.018%, 09/15/2036 (A)(B) | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;515350 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-CLS, Class A,<br> 5.760%, 10/13/2027 (A) | &nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;582381 |
| &nbsp;&nbsp;&nbsp;Series 2022-GPA, Class A (1 month CME Term SOFR + 2.165%),<br> 6.501%, 10/15/2039 (A)(B) | &nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;790021 |
| &nbsp;&nbsp;&nbsp;Series 2022-GPA, Class B (1 month CME Term SOFR + 2.664%),<br> 7.000%, 10/15/2039 (A)(B) | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;475792 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| BX Trust (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-GPA, Class D (1 month CME Term SOFR + 4.061%),<br> 8.397%, 10/15/2039 (A)(B) | $&nbsp;&nbsp;330000 | $&nbsp;&nbsp;&nbsp;&nbsp;325891 |
| CAMB Commercial Mortgage Trust<br> Series 2019-LIFE, Class A (1 month LIBOR + 1.070%)<br> 5.388%, 12/15/2037 (A)(B) | &nbsp;&nbsp;364300 | &nbsp;&nbsp;&nbsp;&nbsp;358804 |
| COLT Mortgage Loan Trust<br> Series 2022-5, Class A1<br> 4.550%, 04/25/2067 (A)(H) | &nbsp;&nbsp;359609 | &nbsp;&nbsp;&nbsp;&nbsp;347033 |
| Credit Suisse Mortgage<br> Capital Certificates |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-ICE4, Class A (1 month LIBOR + 0.980%),<br> 5.298%, 05/15/2036 (A)(B) | 1035000 | &nbsp;&nbsp;&nbsp;1023581 |
| &nbsp;&nbsp;&nbsp;Series 2019-NQM1, Class A1 (2.656% to 11-1-23, then 3.656% thereafter),<br> 2.656%, 10/25/2059 (A) | &nbsp;&nbsp;&nbsp;&nbsp;90988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86069 |
| GCAT Trust<br> Series 2022-NQM4, Class A1 (5.269% to 8-1-26, then 6.269% thereafter)<br> 5.269%, 08/25/2067 (A) | &nbsp;&nbsp;404044 | &nbsp;&nbsp;&nbsp;&nbsp;394755 |
| HarborView Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2007-3, Class ES IO,<br> 0.350%, 05/19/2047 (A) | 3382331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35197 |
| &nbsp;&nbsp;&nbsp;Series 2007-4, Class ES IO,<br> 0.350%, 07/19/2047 | 3493478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46049 |
| &nbsp;&nbsp;&nbsp;Series 2007-6, Class ES IO,<br> 0.343%, 08/19/2037 (A) | 3602992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45406 |
| InTown Mortgage Trust<br> Series 2022-STAY, Class B (1 month CME Term SOFR + 3.286%)<br> 7.622%, 08/15/2039 (A)(B) | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;635792 |
| Life Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%),<br> 5.631%, 05/15/2039 (A)(B) | 1155000 | &nbsp;&nbsp;&nbsp;1126064 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class B (1 month CME Term SOFR + 1.794%),<br> 6.130%, 05/15/2039 (A)(B) | 1090000 | &nbsp;&nbsp;&nbsp;1055867 |
| &nbsp;&nbsp;&nbsp;Series 2022-BMR2, Class D (1 month CME Term SOFR + 2.542%),<br> 6.878%, 05/15/2039 (A)(B) | &nbsp;&nbsp;880000 | &nbsp;&nbsp;&nbsp;&nbsp;842668 |
| Morgan Stanley Mortgage Loan Trust<br> Series 2004-9, Class 1A<br> 5.370%, 11/25/2034 (H) | &nbsp;&nbsp;&nbsp;&nbsp;74080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73402 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class A2,<br> 4.740%, 04/25/2067 (A)(H) | &nbsp;&nbsp;483181 | &nbsp;&nbsp;&nbsp;&nbsp;451339 |
| &nbsp;&nbsp;&nbsp;Series 2022-8, Class A3 (6.127% to 10-1-26, then 7.127% thereafter),<br> 6.127%, 09/25/2067 (A) | &nbsp;&nbsp;300963 | &nbsp;&nbsp;&nbsp;&nbsp;291721 |
| &nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1 (5.041% to 8-1-26, then 6.041% thereafter),<br> 5.041%, 08/25/2067 (A) | &nbsp;&nbsp;358941 | &nbsp;&nbsp;&nbsp;&nbsp;352748 |
|  |  | 12601389 |
| **U.S. Government Agency – 2.1%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA3, Class M1A (1 month SOFR + 2.000%),<br> 5.928%, 04/25/2042 (A)(B) | &nbsp;&nbsp;672847 | &nbsp;&nbsp;&nbsp;&nbsp;669482 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 94 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal Home Loan<br> Mortgage Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1A (1 month SOFR + 2.200%),<br> 6.128%, 05/25/2042 (A)(B) | &nbsp;&nbsp;792927 | $&nbsp;&nbsp;&nbsp;&nbsp;790470 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA4, Class M1B (1 month SOFR + 3.350%),<br> 7.278%, 05/25/2042 (A)(B) | 1165000 | &nbsp;&nbsp;&nbsp;1171185 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA6, Class M1A (1 month SOFR + 2.150%),<br> 6.078%, 09/25/2042 (A)(B) | &nbsp;&nbsp;819326 | &nbsp;&nbsp;&nbsp;&nbsp;819826 |
| &nbsp;&nbsp;&nbsp;Series 2022-DNA7, Class M1A (1 month SOFR + 2.500%),<br> 6.428%, 03/25/2052 (A)(B) | &nbsp;&nbsp;617675 | &nbsp;&nbsp;&nbsp;&nbsp;619739 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA1, Class M1B (1 month SOFR + 3.500%),<br> 7.428%, 03/25/2042 (A)(B) | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;361917 |
| &nbsp;&nbsp;&nbsp;Series 2022-HQA3, Class M1B (1 month SOFR + 3.550%),<br> 7.478%, 08/25/2042 (A)(B) | &nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;535280 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1M1 (1 month SOFR + 1.000%),<br> 4.928%, 12/25/2041 (A)(B) | &nbsp;&nbsp;256781 | &nbsp;&nbsp;&nbsp;&nbsp;253506 |
| &nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1M1 (1 month SOFR + 2.100%),<br> 6.028%, 03/25/2042 (A)(B) | &nbsp;&nbsp;100188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99492 |
| &nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M1 (1 month SOFR + 2.000%),<br> 5.928%, 03/25/2042 (A)(B) | &nbsp;&nbsp;204297 | &nbsp;&nbsp;&nbsp;&nbsp;203573 |
| &nbsp;&nbsp;&nbsp;Series 2022-R05, Class 2M2 (1 month SOFR + 3.000%),<br> 6.928%, 04/25/2042 (A)(B) | 1240000 | &nbsp;&nbsp;&nbsp;1200324 |
| &nbsp;&nbsp;&nbsp;Series 2022-R06, Class 1M1 (1 month SOFR + 2.750%),<br> 6.678%, 05/25/2042 (A)(B) | &nbsp;&nbsp;379239 | &nbsp;&nbsp;&nbsp;&nbsp;383962 |
| &nbsp;&nbsp;&nbsp;Series 2022-R09, Class 2M1 (1 month SOFR + 2.500%),<br> 6.444%, 09/25/2042 (A)(B) | &nbsp;&nbsp;732532 | &nbsp;&nbsp;&nbsp;&nbsp;728742 |
|  |  | &nbsp;&nbsp;&nbsp;7837498 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $20,598,884) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $20,598,884) | $20438887 |
| **ASSET BACKED SECURITIES – 1.5%** | **ASSET BACKED SECURITIES – 1.5%** |  |
| DB Master Finance LLC<br> Series 2019-1A, Class A2II<br> 4.021%, 05/20/2049 (A) | &nbsp;&nbsp;469238 | &nbsp;&nbsp;&nbsp;&nbsp;435150 |
| Domino's Pizza Master Issuer LLC<br> Series 2015-1A, Class A2II<br> 4.474%, 10/25/2045 (A) | &nbsp;&nbsp;850700 | &nbsp;&nbsp;&nbsp;&nbsp;810670 |
| FirstKey Homes Trust<br> Series 2020-SFR2, Class A<br> 1.266%, 10/19/2037 (A) | &nbsp;&nbsp;529052 | &nbsp;&nbsp;&nbsp;&nbsp;468776 |
| Home Partners of America Trust<br> Series 2019-1, Class B<br> 3.157%, 09/17/2039 (A) | &nbsp;&nbsp;344023 | &nbsp;&nbsp;&nbsp;&nbsp;304588 |
| MetroNet Infrastructure Issuer LLC<br> Series 2022-1A, Class A2<br> 6.350%, 10/20/2052 (A) | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;631757 |
| MVW Owner Trust<br> Series 2018-1A, Class A<br> 3.450%, 01/21/2036 (A) | &nbsp;&nbsp;131736 | &nbsp;&nbsp;&nbsp;&nbsp;127585 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| OCCU Auto Receivables Trust<br> Series 2022-1A, Class A3<br> 5.500%, 10/15/2027 (A) | $&nbsp;&nbsp;605000 | $&nbsp;&nbsp;&nbsp;&nbsp;606930 |
| Taco Bell Funding LLC<br> Series 2016-1A, Class A23<br> 4.970%, 05/25/2046 (A) | 1474200 | &nbsp;&nbsp;&nbsp;1414000 |
| T-Mobile US Trust<br> Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (A) | &nbsp;&nbsp;720000 | &nbsp;&nbsp;&nbsp;&nbsp;718803 |
| TOTAL ASSET BACKED SECURITIES (Cost $5,719,111) |  | $&nbsp;&nbsp;5518259 |
| **COMMON STOCKS – 0.4%** |  |  |
| **Communication services – 0.0%** |  |  |
| Vertis Holdings, Inc. (I)(J) | &nbsp;&nbsp;&nbsp;&nbsp;8371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Consumer discretionary – 0.1%** |  |  |
| General Motors Company | &nbsp;&nbsp;&nbsp;&nbsp;11358 | &nbsp;&nbsp;&nbsp;&nbsp;382083 |
| **Industrials – 0.3%** |  |  |
| Delta Air Lines, Inc. (J) | &nbsp;&nbsp;&nbsp;&nbsp;11986 | &nbsp;&nbsp;&nbsp;&nbsp;393860 |
| The Boeing Company (J) | &nbsp;&nbsp;&nbsp;&nbsp;4023 | &nbsp;&nbsp;&nbsp;&nbsp;766335 |
|  |  | &nbsp;&nbsp;&nbsp;1160195 |
| TOTAL COMMON STOCKS (Cost $2,221,458) | TOTAL COMMON STOCKS (Cost $2,221,458) | $&nbsp;&nbsp;&nbsp;1542278 |
| **PREFERRED SECURITIES – 3.0%** |  |  |
| **Communication services – 0.4%** |  |  |
| 2020 Cash Mandatory Exchangeable Trust, 5.250% (A) | &nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;1235542 |
| Paramount Global, 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;240269 |
|  |  | &nbsp;&nbsp;&nbsp;1475811 |
| **Financials – 0.6%** |  |  |
| Stifel Financial Corp., 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;32750 | &nbsp;&nbsp;&nbsp;&nbsp;528913 |
| U.S. Bancorp, 5.099% (Greater of 3 month LIBOR + 1.020% or 3.500%) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp;649289 |
| Valley National Bancorp, 8.332% (3 month LIBOR + 3.578%) (B) | &nbsp;&nbsp;&nbsp;&nbsp;22825 | &nbsp;&nbsp;&nbsp;&nbsp;572908 |
| Wells Fargo & Company, 5.850% (5.850% to 9-15-23, then 3 month LIBOR + 3.090%) | &nbsp;&nbsp;&nbsp;&nbsp;27605 | &nbsp;&nbsp;&nbsp;&nbsp;635191 |
|  |  | &nbsp;&nbsp;&nbsp;2386301 |
| **Health care – 0.4%** |  |  |
| Becton, Dickinson and Company, 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;10850 | &nbsp;&nbsp;&nbsp;&nbsp;543368 |
| Danaher Corp., 5.000% (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;1092023 |
|  |  | &nbsp;&nbsp;&nbsp;1635391 |
| **Utilities – 1.6%** |  |  |
| American Electric Power Company, Inc., 6.125% | &nbsp;&nbsp;&nbsp;&nbsp;19950 | &nbsp;&nbsp;&nbsp;1029021 |
| NextEra Energy, Inc., 6.219% | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;878526 |
| NextEra Energy, Inc., 6.926% | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;2594823 |
| The AES Corp., 6.875% | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;1387336 |
|  |  | &nbsp;&nbsp;&nbsp;5889706 |
| TOTAL PREFERRED SECURITIES (Cost $11,858,253) | TOTAL PREFERRED SECURITIES (Cost $11,858,253) | $11387209 |
| **PURCHASED OPTIONS – 0.0%** |  |  |
| **Puts – 0.0%** |  |  |
| Over the Counter Option on the USD vs. JPY (Expiration Date: 4-5-23; Strike Price: $120.50; Counterparty: Goldman Sachs Bank USA) (J)(K) | 9285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 |
| TOTAL PURCHASED OPTIONS (Cost $116,805) | TOTAL PURCHASED OPTIONS (Cost $116,805) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60826 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 95 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **SHORT-TERM INVESTMENTS – 2.2%** | **SHORT-TERM INVESTMENTS – 2.2%** |  |
| **Short-term funds – 2.2%** |  |  |
| John Hancock Collateral Trust, 4.2988% (L)(M) | 831024 | $&nbsp;&nbsp;&nbsp;&nbsp;8306745 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,306,419) | TOTAL SHORT-TERM INVESTMENTS (Cost $8,306,419) | $&nbsp;&nbsp;&nbsp;&nbsp;8306745 |
| **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $418,463,267) – 99.9%** | **Total Investments (Strategic Income Opportunities Trust)<br> (Cost $418,463,267) – 99.9%** | $**374419765** |
| **Other assets and liabilities, net – 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**189978** |
| **TOTAL NET ASSETS – 100.0%** |  | $**374609743** |

---

---

| | |
|:---|:---|
| <u>Currency Abbreviations</u> | <u>Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan Renminbi |
| EUR | Euro |
| GBP | Pound Sterling |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippine Peso |
| SGD | Singapore Dollar |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |

---

---

| | |
|:---|:---|
| LIBOR | London Interbank Offered Rate |
| NIBOR | Norwegian Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $128,889,915 or 34.4% of the fund's net assets as of 12-31-22. |
| (B) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (C) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (D) | All or a portion of this security is on loan as of 12-31-22. |
| (E) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (F) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (G) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (H) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (I) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (J) | Non-income producing security. |
| (K) | For this type of option, notional amounts are equivalent to number of contracts. |
| (L) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (M) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $3,899,370. |

---

#### DERIVATIVES

#### FUTURES

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Open contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> basis^** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> value^** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** |
| German Euro BUND Futures | &nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;Mar 2023 | &nbsp;&nbsp;&nbsp;&nbsp;$(754730) | &nbsp;&nbsp;&nbsp;&nbsp;$(711474) | &nbsp;&nbsp;&nbsp;&nbsp;$43256 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$43256** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

#### FORWARD FOREIGN CURRENCY CONTRACTS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| AUD | &nbsp;&nbsp;1496250 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1594524 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$6751 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;6141549 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;6561057 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;17466 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;2740658 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2915032 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;15942 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;7592141 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;8054633 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;57217 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;621216 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;660876 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;3528 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;887500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;571585 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;33012 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;3070584 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2046022 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;45768 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;892500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;579255 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;28747 | &nbsp;&nbsp;— |
| AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;185480 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;17187 | &nbsp;&nbsp;— |
| BRL | &nbsp;&nbsp;3955033 | &nbsp;&nbsp;USD | &nbsp;&nbsp;726039 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;20967 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;597500 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;59406808 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(12122) |
| CAD | &nbsp;&nbsp;595000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;60385777 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21441) |
| CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;31006045 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(16927) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 96 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| CAD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;30776335 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;$(17020) |
| CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;2194491 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2547) |
| CAD | &nbsp;&nbsp;2534596 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;2984858 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(23364) |
| CAD | &nbsp;&nbsp;1281092 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1492429 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1493) |
| CAD | &nbsp;&nbsp;1312108 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1492429 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$21416 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3461605 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2554297 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;2466 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;22399818 | &nbsp;&nbsp;USD | &nbsp;&nbsp;16479007 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;65635 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3936390 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2872393 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;35048 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;8558579 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6256259 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;65160 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;4689885 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3427151 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;36827 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;6625721 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4861248 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;32550 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;6347371 | &nbsp;&nbsp;USD | &nbsp;&nbsp;4594681 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;93526 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;10452484 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7674913 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;45356 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;4726403 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3453435 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;37515 | &nbsp;&nbsp;— |
| CAD | &nbsp;&nbsp;3679915 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2742148 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(24141) |
| COP | &nbsp;&nbsp;3922521675 | &nbsp;&nbsp;USD | &nbsp;&nbsp;809269 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2218) |
| COP | &nbsp;&nbsp;3662305076 | &nbsp;&nbsp;USD | &nbsp;&nbsp;765852 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12340) |
| EUR | &nbsp;&nbsp;1481472 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1321224 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10534) |
| EUR | &nbsp;&nbsp;2962943 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2624503 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;633 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;7434247 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;6516782 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;84184 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1305643 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;9008 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1303342 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;11791 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;297500 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;6109460 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;6020 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;769046 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;7882930 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18904 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;2384042 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;24654353 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;36412 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;2049446 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1997818 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;198094 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;6575000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;6630394 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;414498 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;3603218 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3698262 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;162466 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;1280384 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1234298 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;137591 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;5522834 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5549300 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;368232 | &nbsp;&nbsp;— |
| EUR | &nbsp;&nbsp;5068218 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5160455 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;269971 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;1311384 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481472 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1367) |
| GBP | &nbsp;&nbsp;1314367 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481511 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;2199 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;2628311 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2972124 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5864) |
| GBP | &nbsp;&nbsp;1311685 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1482124 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1700) |
| GBP | &nbsp;&nbsp;595000 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;97843585 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(27229) |
| GBP | &nbsp;&nbsp;1467500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1643993 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;130794 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;2641500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2934368 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;260249 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;111798 | &nbsp;&nbsp;USD | &nbsp;&nbsp;120366 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;14842 | &nbsp;&nbsp;— |
| GBP | &nbsp;&nbsp;6437940 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7571841 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;214172 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;29886850 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;8384 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30219660 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;9078 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;31178536 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18244 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;29899404 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;8480 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30994175 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;18684 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;30871247 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;15898 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;95931731 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;595000 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;12637 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;156374017 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1052792 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;140778 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;792492604 | &nbsp;&nbsp;USD | &nbsp;&nbsp;5866920 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;182007 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;256921858 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1813819 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;147211 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;546813217 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3902704 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;271005 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;291087232 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1953853 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;267953 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;119223813 | &nbsp;&nbsp;USD | &nbsp;&nbsp;902756 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;7254 | &nbsp;&nbsp;— |
| JPY | &nbsp;&nbsp;373159287 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2543417 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;304828 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;6070071 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;297500 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8037) |
| MXN | &nbsp;&nbsp;14889850 | &nbsp;&nbsp;USD | &nbsp;&nbsp;744359 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;17847 | &nbsp;&nbsp;— |
| MXN | &nbsp;&nbsp;16761816 | &nbsp;&nbsp;USD | &nbsp;&nbsp;841967 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;16063 | &nbsp;&nbsp;— |
| NOK | &nbsp;&nbsp;2168400 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;300000 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118) |
| NOK | &nbsp;&nbsp;3039156 | &nbsp;&nbsp;USD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;12897 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;316918 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1420) |
| NZD | &nbsp;&nbsp;1607694 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;1496250 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;1612 | &nbsp;&nbsp;— |
| NZD | &nbsp;&nbsp;2984858 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;2583299 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12610) |
| NZD | &nbsp;&nbsp;2426577 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1476279 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;64635 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;2739520 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1990590 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;55375 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;1377750 | &nbsp;&nbsp;USD | &nbsp;&nbsp;995295 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;33654 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4066312 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2985459 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;51399 | &nbsp;&nbsp;— |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 97 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| SGD | &nbsp;&nbsp;2814019 | &nbsp;&nbsp;USD | &nbsp;&nbsp;1986894 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;$114709 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;5402480 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3980845 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;53908 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4120114 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2985886 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;91153 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;11234855 | &nbsp;&nbsp;USD | &nbsp;&nbsp;7930825 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;459742 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;5532144 | &nbsp;&nbsp;USD | &nbsp;&nbsp;3977576 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;154015 | &nbsp;&nbsp;— |
| SGD | &nbsp;&nbsp;4204702 | &nbsp;&nbsp;USD | &nbsp;&nbsp;2970395 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;169817 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;7850417 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;11592194 | &nbsp;&nbsp;ANZ | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(46595) |
| USD | &nbsp;&nbsp;189668 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12999) |
| USD | &nbsp;&nbsp;377789 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;595000 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27546) |
| USD | &nbsp;&nbsp;2983483 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;4522683 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97527) |
| USD | &nbsp;&nbsp;190895 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11773) |
| USD | &nbsp;&nbsp;190944 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;295000 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10021) |
| USD | &nbsp;&nbsp;3603389 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;19006111 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;13612 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;6370579 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;8664002 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28706) |
| USD | &nbsp;&nbsp;6070338 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;8268346 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36713) |
| USD | &nbsp;&nbsp;2882735 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;3937219 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25319) |
| USD | &nbsp;&nbsp;6939594 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;9401456 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4379) |
| USD | &nbsp;&nbsp;3633853 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;4944121 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17905) |
| USD | &nbsp;&nbsp;4822847 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6558088 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20996) |
| USD | &nbsp;&nbsp;13116893 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;17800325 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30535) |
| USD | &nbsp;&nbsp;4430625 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;6063929 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48230) |
| USD | &nbsp;&nbsp;7979257 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;10860094 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42074) |
| USD | &nbsp;&nbsp;1046780 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;1433630 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12108) |
| USD | &nbsp;&nbsp;1677966 | &nbsp;&nbsp;COP | &nbsp;&nbsp;7584826751 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;117403 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;4425636 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4383333 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(270960) |
| USD | &nbsp;&nbsp;1488628 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481900 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99179) |
| USD | &nbsp;&nbsp;2246367 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2272270 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(188294) |
| USD | &nbsp;&nbsp;2196952 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2071356 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22436) |
| USD | &nbsp;&nbsp;12572730 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;12437756 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(753909) |
| USD | &nbsp;&nbsp;4241834 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4300504 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(366012) |
| USD | &nbsp;&nbsp;5723084 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5722366 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(408241) |
| USD | &nbsp;&nbsp;2249779 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2138218 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41250) |
| USD | &nbsp;&nbsp;1487079 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1481900 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(100727) |
| USD | &nbsp;&nbsp;5130771 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5001356 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(228015) |
| USD | &nbsp;&nbsp;21929315 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;21644342 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;(1261874) |
| USD | &nbsp;&nbsp;1641084 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1467500 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(133703) |
| USD | &nbsp;&nbsp;3708689 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;3206936 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(169764) |
| USD | &nbsp;&nbsp;2898148 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;2641500 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(296469) |
| USD | &nbsp;&nbsp;2674519 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;380498847 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(229747) |
| USD | &nbsp;&nbsp;5105657 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;723704639 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(418226) |
| USD | &nbsp;&nbsp;1496781 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;198143924 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15609) |
| USD | &nbsp;&nbsp;4713409 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;663578151 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(351542) |
| USD | &nbsp;&nbsp;795907 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;104214367 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;461 | &nbsp;&nbsp;— |
| USD | &nbsp;&nbsp;1490625 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;220344933 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(191221) |
| USD | &nbsp;&nbsp;1051839 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;153397044 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(119008) |
| USD | &nbsp;&nbsp;1051839 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;152364664 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(111128) |
| USD | &nbsp;&nbsp;204615 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;4017901 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1060) |
| USD | &nbsp;&nbsp;57334 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;1126214 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316) |
| USD | &nbsp;&nbsp;4236958 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;86794875 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(206035) |
| USD | &nbsp;&nbsp;3178025 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;31903549 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80363) |
| USD | &nbsp;&nbsp;297500 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;3079675 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17035) |
| USD | &nbsp;&nbsp;1897618 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;3113039 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79210) |
| USD | &nbsp;&nbsp;1025869 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;1721083 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67046) |
| USD | &nbsp;&nbsp;2148721 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;3572064 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(119594) |
| USD | &nbsp;&nbsp;2627453 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;4497692 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(228651) |
| USD | &nbsp;&nbsp;1977991 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2803565 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(115805) |
| USD | &nbsp;&nbsp;5945038 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;8283077 | &nbsp;&nbsp;CIBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(241041) |
| USD | &nbsp;&nbsp;3569856 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;4936655 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(117003) |
| USD | &nbsp;&nbsp;1964866 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2756314 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93642) |
| USD | &nbsp;&nbsp;9535183 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;13438719 | &nbsp;&nbsp;HUS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(501302) |
| USD | &nbsp;&nbsp;7539441 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;10738484 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(480419) |
| USD | &nbsp;&nbsp;1986351 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2671930 | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9136) |
| USD | &nbsp;&nbsp;3977827 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5510320 | &nbsp;&nbsp;RBC | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(137465) |
| USD | &nbsp;&nbsp;3969324 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;5533711 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(163436) |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 98 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Strategic Income Opportunities Trust (continued) FORWARD FOREIGN CURRENCY CONTRACTS (continued)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contract to buy** | **Contract to buy** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Contract to sell** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Contractual<br> settlement<br> date** | &nbsp;&nbsp;**Unrealized<br> appreciation** | &nbsp;&nbsp;**Unrealized<br> depreciation** |
| USD | &nbsp;&nbsp;1992285 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;2800536 | &nbsp;&nbsp;UBS | &nbsp;&nbsp;1/18/2023 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(99248) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$5862887** | &nbsp;&nbsp;**$(9211039)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

#### WRITTEN OPTIONS

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** | **Foreign currency options** |
| **Description** | &nbsp;&nbsp;**Counterparty (OTC)** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Exercise<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount\*** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** |
| **Puts** |  |  |  |  |  |  |  |
| U.S. Dollar vs. Japanese Yen | &nbsp;&nbsp;GSI | &nbsp;&nbsp;USD | &nbsp;&nbsp;112.75 | &nbsp;&nbsp;Apr 2023 | &nbsp;&nbsp;9285000 | &nbsp;&nbsp;$55339 | &nbsp;&nbsp;$(17846) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$55339** | &nbsp;&nbsp;**$(17846)** |
| \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. | \* For this type of option, notional amounts are equivalent to number of contracts. |

---

---

| | |
|:---|:---|
| <u>Derivatives Currency Abbreviations</u> | <u>Derivatives Currency Abbreviations</u> |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| COP | Colombian Peso |
| EUR | Euro |
| GBP | Pound Sterling |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SGD | Singapore Dollar |
| USD | U.S. Dollar |

---

---

| | |
|:---|:---|
| <u>Derivatives Abbreviations</u> | <u>Derivatives Abbreviations</u> |
| ANZ | Australia and New Zealand Banking Group Limited |
| BARC | Barclays Bank PLC |
| BOA | Bank of America, N.A. |
| CIBC | Canadian Imperial Bank of Commerce |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| HUS | HSBC Bank USA, N.A. |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| RBC | Royal Bank of Canada |
| SCB | Standard Chartered Bank |
| SSB | State Street Bank and Trust Company |
| UBS | UBS AG |

---

&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to financial statements regarding investment transactions and other derivatives information.

#### Total Bond Market Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 69.7%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 69.7%** |  |
| **U.S. Government – 40.7%** |  |  |
| U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;1.250%, 05/15/2050 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4305312 |
| &nbsp;&nbsp;&nbsp;2.000%, 11/15/2041 to 08/15/2051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12855351 |
| &nbsp;&nbsp;&nbsp;2.250%, 08/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405938 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340586 |
| &nbsp;&nbsp;&nbsp;2.875%, 05/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206973 |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2047 to 08/15/2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26635000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21850387 |
| &nbsp;&nbsp;&nbsp;3.375%, 08/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150000 |

---

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Bonds (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2052 | $&nbsp;&nbsp;6000000 | $&nbsp;&nbsp;&nbsp;6008438 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2039 to 11/15/2040 | &nbsp;&nbsp;4610000 | &nbsp;&nbsp;&nbsp;4741728 |
| &nbsp;&nbsp;&nbsp;4.375%, 05/15/2041 | &nbsp;&nbsp;1830000 | &nbsp;&nbsp;&nbsp;1895766 |
| &nbsp;&nbsp;&nbsp;4.625%, 02/15/2040 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;5373242 |
| &nbsp;&nbsp;&nbsp;4.750%, 02/15/2041 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;2174531 |
| U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;0.250%, 07/31/2025 to 10/31/2025 | 16000000 | 14339687 |
| &nbsp;&nbsp;&nbsp;0.375%, 09/15/2024 to 07/31/2027 | &nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;3391031 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 99 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government (continued)** |  |  |
| U.S. Treasury Notes (continued) |  |  |
| &nbsp;&nbsp;&nbsp;0.500%, 10/31/2027 | $12000000 | $&nbsp;&nbsp;&nbsp;10149844 |
| &nbsp;&nbsp;&nbsp;0.625%, 03/31/2027 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;5206406 |
| &nbsp;&nbsp;&nbsp;0.750%, 03/31/2026 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3585156 |
| &nbsp;&nbsp;&nbsp;0.875%, 01/31/2024 to 09/30/2026 | 15000000 | &nbsp;&nbsp;&nbsp;14034570 |
| &nbsp;&nbsp;&nbsp;1.125%, 01/15/2025 | 20000000 | &nbsp;&nbsp;&nbsp;18716406 |
| &nbsp;&nbsp;&nbsp;1.250%, 08/31/2024 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4733398 |
| &nbsp;&nbsp;&nbsp;1.375%, 08/31/2026 to 11/15/2031 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;6974727 |
| &nbsp;&nbsp;&nbsp;1.500%, 01/31/2027 | 30000000 | &nbsp;&nbsp;&nbsp;27085546 |
| &nbsp;&nbsp;&nbsp;1.750%, 12/31/2024 to 01/31/2029 | 34000000 | &nbsp;&nbsp;&nbsp;30218516 |
| &nbsp;&nbsp;&nbsp;2.125%, 05/31/2026 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2807109 |
| &nbsp;&nbsp;&nbsp;2.250%, 11/15/2027 | 20595000 | &nbsp;&nbsp;&nbsp;18977971 |
| &nbsp;&nbsp;&nbsp;2.375%, 05/15/2029 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4545313 |
| &nbsp;&nbsp;&nbsp;2.750%, 08/15/2032 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4553125 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/30/2023 to 05/15/2032 | 13800000 | &nbsp;&nbsp;&nbsp;12991329 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/31/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1931563 |
| &nbsp;&nbsp;&nbsp;3.125%, 08/31/2027 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;4808984 |
| &nbsp;&nbsp;&nbsp;3.875%, 09/30/2029 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;9929297 |
| &nbsp;&nbsp;&nbsp;4.000%, 10/31/2029 | 15000000 | &nbsp;&nbsp;&nbsp;15004688 |
| &nbsp;&nbsp;&nbsp;4.125%, 09/30/2027 to 11/15/2032 | 25000000 | &nbsp;&nbsp;&nbsp;25176563 |
| &nbsp;&nbsp;&nbsp;4.250%, 09/30/2024 to 10/15/2025 | 20000000 | &nbsp;&nbsp;&nbsp;19941016 |
| &nbsp;&nbsp;&nbsp;4.375%, 10/31/2024 | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;9971484 |
| &nbsp;&nbsp;&nbsp;4.500%, 11/15/2025 | 10000000 | &nbsp;&nbsp;&nbsp;10060156 |
|  |  | 350442137 |
| **U.S. Government Agency – 29.0%** |  |  |
| Federal Home Loan Bank<br> 5.500%, 07/15/2036 | &nbsp;&nbsp;1690000 | &nbsp;&nbsp;&nbsp;&nbsp;1856111 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 12/01/2036 to 03/01/2051 | &nbsp;&nbsp;6542268 | &nbsp;&nbsp;&nbsp;&nbsp;5237275 |
| &nbsp;&nbsp;&nbsp;2.000%, 07/01/2035 to 05/01/2051 | &nbsp;&nbsp;6251326 | &nbsp;&nbsp;&nbsp;&nbsp;5182068 |
| &nbsp;&nbsp;&nbsp;2.500%, 04/01/2031 to 04/01/2052 | 12369696 | &nbsp;&nbsp;&nbsp;10598438 |
| &nbsp;&nbsp;&nbsp;2.600%, (12 month LIBOR + 2.100%), 02/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;53146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53408 |
| &nbsp;&nbsp;&nbsp;2.750%, 06/19/2023 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1983123 |
| &nbsp;&nbsp;&nbsp;3.000%, 07/01/2032 to 03/01/2052 | 11196429 | &nbsp;&nbsp;&nbsp;10042462 |
| &nbsp;&nbsp;&nbsp;3.500%, 12/01/2025 to 07/01/2052 | &nbsp;&nbsp;8754055 | &nbsp;&nbsp;&nbsp;&nbsp;8071548 |
| &nbsp;&nbsp;&nbsp;4.000%, 02/01/2024 to 09/01/2047 | &nbsp;&nbsp;1121888 | &nbsp;&nbsp;&nbsp;&nbsp;1079244 |
| &nbsp;&nbsp;&nbsp;4.112%, (12 month LIBOR + 1.862%), 08/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;377020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379761 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/01/2024 to 07/01/2052 | &nbsp;&nbsp;5634136 | &nbsp;&nbsp;&nbsp;&nbsp;5491330 |
| &nbsp;&nbsp;&nbsp;5.000%, 06/01/2023 to 09/01/2039 | &nbsp;&nbsp;&nbsp;&nbsp;159957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161307 |
| &nbsp;&nbsp;&nbsp;5.500%, 02/01/2023 to 10/01/2052 | &nbsp;&nbsp;1732116 | &nbsp;&nbsp;&nbsp;&nbsp;1744696 |
| &nbsp;&nbsp;&nbsp;6.000%, 10/01/2036 to 10/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;130161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136166 |
| &nbsp;&nbsp;&nbsp;6.250%, 07/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524849 |
| &nbsp;&nbsp;&nbsp;6.500%, 08/01/2037 to 08/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;26592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28413 |
| &nbsp;&nbsp;&nbsp;6.750%, 09/15/2029 | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;1375764 |
| &nbsp;&nbsp;&nbsp;7.000%, 04/01/2029 to 04/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10461 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 03/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533 |
| &nbsp;&nbsp;&nbsp;8.000%, 02/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;1.500%, 11/01/2036 to 02/01/2051 | &nbsp;&nbsp;6993189 | &nbsp;&nbsp;&nbsp;&nbsp;5898063 |
| &nbsp;&nbsp;&nbsp;1.710%, (12 month LIBOR + 1.335%), 01/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;11952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11823 |
| &nbsp;&nbsp;&nbsp;2.000%, 02/01/2035 to 02/01/2052 | 63921754 | &nbsp;&nbsp;&nbsp;53333889 |
| &nbsp;&nbsp;&nbsp;2.125%, 04/24/2026 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1874213 |
| &nbsp;&nbsp;&nbsp;2.500%, 05/01/2028 to 02/01/2052 | 37419949 | &nbsp;&nbsp;&nbsp;32398429 |
| &nbsp;&nbsp;&nbsp;2.625%, 09/06/2024 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970149 |
| &nbsp;&nbsp;&nbsp;2.995%, (12 month LIBOR + 1.843%), 04/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;63816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64511 |
| &nbsp;&nbsp;&nbsp;3.000%, 01/01/2027 to 03/01/2052 | 18343207 | &nbsp;&nbsp;&nbsp;16571934 |
| &nbsp;&nbsp;&nbsp;3.079%, (1 Year CMT + 2.185%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;39472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40199 |
| &nbsp;&nbsp;&nbsp;3.088%, (6 month LIBOR + 1.415%), 07/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;63875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63297 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** | **U.S. GOVERNMENT AND AGENCY<br> OBLIGATIONS (continued)** |  |
| **U.S. Government Agency (continued)** |  |  |
| Federal National<br> Mortgage Association (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.133%, (12 month LIBOR + 1.576%), 09/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;42796 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43015 |
| &nbsp;&nbsp;&nbsp;3.500%, 12/01/2025 to 02/01/2052 | 10934862 | &nbsp;&nbsp;&nbsp;10159299 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/01/2024 to 06/01/2052 | 12936662 | &nbsp;&nbsp;&nbsp;12312932 |
| &nbsp;&nbsp;&nbsp;4.175%, (12 month LIBOR + 1.925%), 10/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;13291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13425 |
| &nbsp;&nbsp;&nbsp;4.500%, 08/01/2024 to 09/01/2052 | &nbsp;&nbsp;3702405 | &nbsp;&nbsp;&nbsp;&nbsp;3605322 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/01/2023 to 08/01/2052 | &nbsp;&nbsp;5180052 | &nbsp;&nbsp;&nbsp;&nbsp;5139373 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/01/2034 to 11/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;291753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299870 |
| &nbsp;&nbsp;&nbsp;6.000%, 08/01/2023 to 08/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;197800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205835 |
| &nbsp;&nbsp;&nbsp;6.500%, 07/01/2031 to 12/01/2037 | &nbsp;&nbsp;&nbsp;&nbsp;79479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84372 |
| &nbsp;&nbsp;&nbsp;7.000%, 02/01/2031 to 10/01/2038 | &nbsp;&nbsp;&nbsp;&nbsp;36133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38838 |
| &nbsp;&nbsp;&nbsp;7.125%, 01/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247896 |
| &nbsp;&nbsp;&nbsp;7.250%, 05/15/2030 | &nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;1739496 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/01/2030 to 08/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;13199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14020 |
| &nbsp;&nbsp;&nbsp;8.000%, 08/01/2030 to 09/01/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2455 |
| &nbsp;&nbsp;&nbsp;8.500%, 09/01/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 |
| Government National<br> Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 02/20/2051 | 12084522 | &nbsp;&nbsp;&nbsp;10197834 |
| &nbsp;&nbsp;&nbsp;2.500%, 08/20/2050 to 11/20/2051 | 14427983 | &nbsp;&nbsp;&nbsp;12572596 |
| &nbsp;&nbsp;&nbsp;3.000%, 08/15/2043 to 07/20/2051 | 11713769 | &nbsp;&nbsp;&nbsp;10547822 |
| &nbsp;&nbsp;&nbsp;3.500%, 04/15/2042 to 01/20/2052 | &nbsp;&nbsp;9593320 | &nbsp;&nbsp;&nbsp;&nbsp;8933398 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2026 to 04/20/2049 | &nbsp;&nbsp;3973637 | &nbsp;&nbsp;&nbsp;&nbsp;3814035 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/15/2023 to 07/20/2052 | &nbsp;&nbsp;3789148 | &nbsp;&nbsp;&nbsp;&nbsp;3691928 |
| &nbsp;&nbsp;&nbsp;5.000%, 10/15/2023 to 07/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;449949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452185 |
| &nbsp;&nbsp;&nbsp;5.500%, 08/15/2023 to 09/20/2039 | &nbsp;&nbsp;&nbsp;&nbsp;188014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192751 |
| &nbsp;&nbsp;&nbsp;6.000%, 07/15/2029 to 10/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;142070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147662 |
| &nbsp;&nbsp;&nbsp;6.500%, 05/15/2028 to 12/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;110222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115911 |
| &nbsp;&nbsp;&nbsp;7.000%, 08/15/2029 to 05/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;17512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18160 |
| &nbsp;&nbsp;&nbsp;7.500%, 09/15/2030 to 01/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5005 |
|  |  | 249783663 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $660,253,655) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $660,253,655) | $600225800 |
| **FOREIGN GOVERNMENT OBLIGATIONS – 0.7%** | **FOREIGN GOVERNMENT OBLIGATIONS – 0.7%** |  |
| **Brazil – 0.2%** |  |  |
| Federative Republic of Brazil<br> 4.250%, 01/07/2025 | &nbsp;&nbsp;1612000 | &nbsp;&nbsp;&nbsp;&nbsp;1581936 |
| **Canada – 0.1%** |  |  |
| Province of British Columbia<br> 6.500%, 01/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511295 |
| Province of Quebec |  |  |
| &nbsp;&nbsp;&nbsp;7.125%, 02/09/2024 | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153508 |
| &nbsp;&nbsp;&nbsp;7.500%, 07/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1080198 |
| **Israel – 0.1%** |  |  |
| State of Israel<br> 5.500%, 09/18/2023 | &nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456999 |
| **Italy – 0.0%** |  |  |
| Republic of Italy<br> 6.875%, 09/27/2023 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301644 |
| **Japan – 0.1%** |  |  |
| Japan Bank for International Cooperation<br> 2.500%, 05/23/2024 | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773710 |
| **Mexico – 0.1%** |  |  |
| Government of Mexico<br> 6.050%, 01/11/2040 | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902079 |
| **Panama – 0.1%** |  |  |
| Republic of Panama<br> 6.700%, 01/26/2036 | &nbsp;&nbsp;&nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385374 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 100 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |  |
| **Peru – 0.0%** |  |  |
| Republic of Peru<br> 6.550%, 03/14/2037 | 250000 | $&nbsp;&nbsp;&nbsp;&nbsp;263245 |
| **Turkey – 0.0%** |  |  |
| Republic of Turkey<br> 6.000%, 01/14/2041 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;289083 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $6,648,676) | TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $6,648,676) | $6034268 |
| **CORPORATE BONDS – 25.6%** | **CORPORATE BONDS – 25.6%** |  |
| **Communication services – 2.0%** |  |  |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.100%, 08/15/2030 | 300000 | &nbsp;&nbsp;&nbsp;&nbsp;234773 |
| &nbsp;&nbsp;&nbsp;2.050%, 08/15/2050 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;233783 |
| AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.550%, 12/01/2033 | 665000 | &nbsp;&nbsp;&nbsp;&nbsp;511059 |
| &nbsp;&nbsp;&nbsp;3.800%, 12/01/2057 | 609000 | &nbsp;&nbsp;&nbsp;&nbsp;420169 |
| &nbsp;&nbsp;&nbsp;4.750%, 05/15/2046 | 900000 | &nbsp;&nbsp;&nbsp;&nbsp;760873 |
| &nbsp;&nbsp;&nbsp;4.850%, 07/15/2045 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;428628 |
| &nbsp;&nbsp;&nbsp;5.150%, 03/15/2042 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;45286 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | 360000 | &nbsp;&nbsp;&nbsp;&nbsp;374509 |
| &nbsp;&nbsp;&nbsp;7.625%, 04/15/2031 | 285000 | &nbsp;&nbsp;&nbsp;&nbsp;318698 |
| Baidu, Inc.<br> 4.125%, 06/30/2025 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;236791 |
| British Telecommunications PLC<br> 9.625%, 12/15/2030 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;227531 |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.800%, 04/01/2031 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;467105 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/30/2029 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;376335 |
| &nbsp;&nbsp;&nbsp;5.375%, 05/01/2047 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;392221 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.350%, 01/15/2027 | 455000 | &nbsp;&nbsp;&nbsp;&nbsp;413412 |
| &nbsp;&nbsp;&nbsp;2.887%, 11/01/2051 | 256000 | &nbsp;&nbsp;&nbsp;&nbsp;164415 |
| &nbsp;&nbsp;&nbsp;3.375%, 02/15/2025 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;581645 |
| &nbsp;&nbsp;&nbsp;3.450%, 02/01/2050 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;362622 |
| &nbsp;&nbsp;&nbsp;3.999%, 11/01/2049 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;394549 |
| &nbsp;&nbsp;&nbsp;4.600%, 10/15/2038 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;369535 |
| &nbsp;&nbsp;&nbsp;6.500%, 11/15/2035 | &nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp;57843 |
| Deutsche Telekom International Finance BV<br> 8.750%, 06/15/2030 | 146000 | &nbsp;&nbsp;&nbsp;&nbsp;172172 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2029 | 900000 | &nbsp;&nbsp;&nbsp;&nbsp;779909 |
| &nbsp;&nbsp;&nbsp;5.300%, 05/15/2049 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;302435 |
| Fox Corp.<br> 3.500%, 04/08/2030 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;531597 |
| Grupo Televisa SAB<br> 6.625%, 01/15/2040 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;226039 |
| Paramount Global<br> 4.000%, 01/15/2026 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;575320 |
| TCI Communications, Inc.<br> 7.125%, 02/15/2028 | 110000 | &nbsp;&nbsp;&nbsp;&nbsp;120044 |
| Telefonica Emisiones SA<br> 7.045%, 06/20/2036 | 230000 | &nbsp;&nbsp;&nbsp;&nbsp;235810 |
| Telefonica Europe BV<br> 8.250%, 09/15/2030 | 350000 | &nbsp;&nbsp;&nbsp;&nbsp;390471 |
| The Walt Disney Company<br> 2.650%, 01/13/2031 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;341426 |
| Time Warner Cable Enterprises LLC<br> 8.375%, 07/15/2033 | 525000 | &nbsp;&nbsp;&nbsp;&nbsp;583194 |
| T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 02/15/2041 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;282250 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;543489 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;575496 |
| TWDC Enterprises 18 Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.150%, 09/17/2025 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;479048 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Communication services (continued)** |  |  |
| TWDC Enterprises 18 Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 06/01/2044 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;428069 |
| Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.680%, 10/30/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;311788 |
| &nbsp;&nbsp;&nbsp;2.875%, 11/20/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;313480 |
| &nbsp;&nbsp;&nbsp;4.016%, 12/03/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;467026 |
| &nbsp;&nbsp;&nbsp;4.272%, 01/15/2036 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;407705 |
| &nbsp;&nbsp;&nbsp;4.522%, 09/15/2048 | 1260000 | &nbsp;&nbsp;&nbsp;1072267 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 05/30/2028 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;393005 |
| &nbsp;&nbsp;&nbsp;5.250%, 05/30/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;264219 |
|  |  | 17168041 |
| **Consumer discretionary – 1.6%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 05/12/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;326660 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/03/2050 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;504169 |
| &nbsp;&nbsp;&nbsp;4.050%, 08/22/2047 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;514467 |
| American Honda Finance Corp.<br> 1.800%, 01/13/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;476304 |
| AutoZone, Inc.<br> 3.250%, 04/15/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;958361 |
| Booking Holdings, Inc.<br> 3.550%, 03/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;279593 |
| Brinker International, Inc.<br> 3.875%, 05/15/2023 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;247606 |
| Choice Hotels International, Inc.<br> 3.700%, 01/15/2031 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;169531 |
| D.R. Horton, Inc.<br> 1.400%, 10/15/2027 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;166947 |
| Expedia Group, Inc.<br> 3.250%, 02/15/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;254489 |
| Ford Motor Credit Company LLC<br> 3.096%, 05/04/2023 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;277046 |
| General Motors Company<br> 5.400%, 04/01/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;245197 |
| General Motors Financial Company, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 10/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248762 |
| &nbsp;&nbsp;&nbsp;3.100%, 01/12/2032 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;274240 |
| &nbsp;&nbsp;&nbsp;4.250%, 05/15/2023 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;278842 |
| &nbsp;&nbsp;&nbsp;5.250%, 03/01/2026 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;639893 |
| Lennar Corp.<br> 4.750%, 11/29/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;289204 |
| Lowe's Companies, Inc.<br> 3.375%, 09/15/2025 | &nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;441742 |
| McDonald's Corp.<br> 3.300%, 07/01/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;967299 |
| NIKE, Inc.<br> 2.400%, 03/27/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;955141 |
| Starbucks Corp.<br> 3.550%, 08/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;276436 |
| Target Corp.<br> 3.900%, 11/15/2047 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;407341 |
| The Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.700%, 04/15/2030 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;610363 |
| &nbsp;&nbsp;&nbsp;3.350%, 09/15/2025 | &nbsp;&nbsp;752000 | &nbsp;&nbsp;&nbsp;&nbsp;728938 |
| &nbsp;&nbsp;&nbsp;4.250%, 04/01/2046 | &nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp;337668 |
| &nbsp;&nbsp;&nbsp;5.875%, 12/16/2036 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;299436 |
| The TJX Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 04/15/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;561308 |
| &nbsp;&nbsp;&nbsp;4.500%, 04/15/2050 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;533510 |
| Toll Brothers Finance Corp.<br> 3.800%, 11/01/2029 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;170747 |
| Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.150%, 08/13/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;425318 |
| &nbsp;&nbsp;&nbsp;1.900%, 09/12/2031 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;552680 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 101 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Toyota Motor Credit Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;3.050%, 01/11/2028 | $&nbsp;&nbsp;300000 | $&nbsp;&nbsp;&nbsp;&nbsp;276801 |
| Whirlpool Corp.<br> 5.150%, 03/01/2043 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;259705 |
|  |  | 13955744 |
| **Consumer staples – 1.5%** |  |  |
| Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.400%, 02/04/2041 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;265299 |
| &nbsp;&nbsp;&nbsp;4.500%, 05/02/2043 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;375373 |
| Anheuser-Busch Companies LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.650%, 02/01/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;769925 |
| &nbsp;&nbsp;&nbsp;4.900%, 02/01/2046 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;454538 |
| Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 06/01/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;349855 |
| &nbsp;&nbsp;&nbsp;4.750%, 01/23/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;493546 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.726%, 03/25/2031 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;468130 |
| &nbsp;&nbsp;&nbsp;3.215%, 09/06/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;461263 |
| Constellation Brands, Inc.<br> 4.500%, 05/09/2047 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;294543 |
| Costco Wholesale Corp.<br> 1.600%, 04/20/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;409633 |
| Diageo Capital PLC<br> 2.000%, 04/29/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;246415 |
| General Mills, Inc.<br> 2.875%, 04/15/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;518356 |
| Kellogg Company<br> 3.250%, 04/01/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;380274 |
| Keurig Dr. Pepper, Inc.<br> 4.597%, 05/25/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;488486 |
| Kimberly-Clark Corp.<br> 3.200%, 07/30/2046 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;214713 |
| Kraft Heinz Foods Company |  |  |
| &nbsp;&nbsp;&nbsp;3.000%, 06/01/2026 | &nbsp;&nbsp;458000 | &nbsp;&nbsp;&nbsp;&nbsp;428605 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/26/2039 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43395 |
| Mondelez International, Inc.<br> 4.625%, 05/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;262835 |
| PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, 02/24/2026 | &nbsp;&nbsp;495000 | &nbsp;&nbsp;&nbsp;&nbsp;470115 |
| &nbsp;&nbsp;&nbsp;4.000%, 03/05/2042 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;237654 |
| &nbsp;&nbsp;&nbsp;5.500%, 01/15/2040 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;298800 |
| Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.600%, 11/15/2023 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;247181 |
| &nbsp;&nbsp;&nbsp;6.375%, 05/16/2038 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;319342 |
| SC Johnson & Son, Inc.<br> 4.000%, 05/15/2043 (B) | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;200845 |
| Sysco Corp.<br> 6.600%, 04/01/2050 | 1000000 | &nbsp;&nbsp;&nbsp;1089902 |
| The Coca-Cola Company |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 09/06/2029 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;342017 |
| &nbsp;&nbsp;&nbsp;2.500%, 06/01/2040 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;291470 |
| The Estee Lauder Companies, Inc.<br> 2.600%, 04/15/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;515636 |
| The Kroger Company<br> 3.500%, 02/01/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;477362 |
| The Procter & Gamble Company<br> 3.600%, 03/25/2050 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;492608 |
| Tyson Foods, Inc.<br> 4.350%, 03/01/2029 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;381390 |
| Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 07/08/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;561010 |
| &nbsp;&nbsp;&nbsp;4.050%, 06/29/2048 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;443729 |
|  |  | 13294245 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy – 1.8%** |  |  |
| Anadarko Petroleum Corp.<br> 6.450%, 09/15/2036 | $&nbsp;&nbsp;280000 | $271958 |
| Baker Hughes Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.337%, 12/15/2027 | &nbsp;&nbsp;500000 | 461852 |
| &nbsp;&nbsp;&nbsp;4.486%, 05/01/2030 | &nbsp;&nbsp;500000 | 476541 |
| Boardwalk Pipelines LP<br> 4.950%, 12/15/2024 | &nbsp;&nbsp;400000 | 395167 |
| BP Capital Markets America, Inc.<br> 3.796%, 09/21/2025 | &nbsp;&nbsp;800000 | 785492 |
| Canadian Natural Resources, Ltd.<br> 6.250%, 03/15/2038 | &nbsp;&nbsp;290000 | 286902 |
| Cenovus Energy, Inc.<br> 4.250%, 04/15/2027 | &nbsp;&nbsp;300000 | 286720 |
| Chevron Corp.<br> 2.954%, 05/16/2026 | &nbsp;&nbsp;800000 | 758738 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.000%, 06/15/2045 | &nbsp;&nbsp;885000 | 764125 |
| &nbsp;&nbsp;&nbsp;7.875%, 09/30/2031 | &nbsp;&nbsp;170000 | 191834 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.700%, 07/15/2027 | &nbsp;&nbsp;400000 | 374433 |
| &nbsp;&nbsp;&nbsp;4.500%, 06/10/2044 | &nbsp;&nbsp;400000 | 332574 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 01/15/2023 | &nbsp;&nbsp;170000 | 169858 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/01/2027 | &nbsp;&nbsp;600000 | 595739 |
| &nbsp;&nbsp;&nbsp;6.125%, 12/15/2045 | &nbsp;&nbsp;350000 | 323834 |
| &nbsp;&nbsp;&nbsp;6.500%, 02/01/2042 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;49419 |
| Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 02/15/2052 | &nbsp;&nbsp;700000 | 458673 |
| &nbsp;&nbsp;&nbsp;4.850%, 08/15/2042 | &nbsp;&nbsp;280000 | 247336 |
| &nbsp;&nbsp;&nbsp;6.875%, 03/01/2033 | &nbsp;&nbsp;130000 | 142020 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.995%, 08/16/2039 | &nbsp;&nbsp;400000 | 305716 |
| &nbsp;&nbsp;&nbsp;3.482%, 03/19/2030 | &nbsp;&nbsp;700000 | 652822 |
| Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.300%, 05/01/2024 | &nbsp;&nbsp;700000 | 690656 |
| &nbsp;&nbsp;&nbsp;6.375%, 03/01/2041 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;59349 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/01/2039 | &nbsp;&nbsp;180000 | 181397 |
| Kinder Morgan, Inc.<br> 5.550%, 06/01/2045 | &nbsp;&nbsp;375000 | 341929 |
| MPLX LP<br> 4.800%, 02/15/2029 | &nbsp;&nbsp;400000 | 382776 |
| ONEOK Partners LP<br> 6.650%, 10/01/2036 | &nbsp;&nbsp;268000 | 268197 |
| Ovintiv, Inc.<br> 6.500%, 08/15/2034 | &nbsp;&nbsp;270000 | 271687 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;6.625%, 06/15/2035 | &nbsp;&nbsp;230000 | 166844 |
| &nbsp;&nbsp;&nbsp;6.700%, 02/16/2032 | &nbsp;&nbsp;173000 | 135848 |
| Phillips 66 Company<br> 3.750%, 03/01/2028 (B) | &nbsp;&nbsp;200000 | 184078 |
| Plains All American Pipeline LP<br> 4.900%, 02/15/2045 | &nbsp;&nbsp;500000 | 387332 |
| Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 05/11/2045 | 1000000 | 873796 |
| &nbsp;&nbsp;&nbsp;6.375%, 12/15/2038 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;98952 |
| Suncor Energy, Inc.<br> 5.950%, 05/15/2035 | &nbsp;&nbsp;235000 | 229281 |
| The Williams Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.500%, 11/15/2030 | &nbsp;&nbsp;400000 | 349712 |
| &nbsp;&nbsp;&nbsp;5.100%, 09/15/2045 | &nbsp;&nbsp;400000 | 349750 |
| Tosco Corp.<br> 8.125%, 02/15/2030 | &nbsp;&nbsp;383000 | 446301 |
| TotalEnergies Capital International SA<br> 3.700%, 01/15/2024 | &nbsp;&nbsp;500000 | 493301 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 102 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Energy (continued)** |  |  |
| TransCanada PipeLines, Ltd.<br> 5.850%, 03/15/2036 | $&nbsp;&nbsp;405000 | $&nbsp;&nbsp;&nbsp;&nbsp;397914 |
| Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, 04/15/2025 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;567823 |
| &nbsp;&nbsp;&nbsp;7.500%, 04/15/2032 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;303472 |
|  |  | 15512148 |
| **Financials – 7.9%** |  |  |
| American Express Company<br> 4.420%, (4.420% to 8-3-32, then SOFR + 1.760%), 08/03/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;944615 |
| American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 02/15/2024 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;544106 |
| &nbsp;&nbsp;&nbsp;6.250%, 05/01/2036 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;453174 |
| Arch Capital Finance LLC<br> 4.011%, 12/15/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;381431 |
| Ares Capital Corp.<br> 3.875%, 01/15/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;916451 |
| Banco Santander SA<br> 1.722%, (1.722% to 9-14-26, then 1 Year CMT + 0.900%), 09/14/2027 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;597917 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/11/2023 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;799726 |
| &nbsp;&nbsp;&nbsp;3.366%, (3.366% to 1-23-25, then 3 month LIBOR + 0.810%), 01/23/2026 | 1700000 | &nbsp;&nbsp;&nbsp;1620919 |
| &nbsp;&nbsp;&nbsp;3.419%, (3.419% to 12-20-27, then 3 month LIBOR + 1.040%), 12/20/2028 | 1312000 | &nbsp;&nbsp;&nbsp;1188055 |
| &nbsp;&nbsp;&nbsp;3.970%, (3.970% to 3-5-28, then 3 month LIBOR + 1.070%), 03/05/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;461362 |
| &nbsp;&nbsp;&nbsp;3.974%, (3.974% to 2-7-29, then 3 month LIBOR + 1.210%), 02/07/2030 | 2000000 | &nbsp;&nbsp;&nbsp;1816459 |
| &nbsp;&nbsp;&nbsp;4.443%, (4.443% to 1-20-47, then 3 month LIBOR + 1.990%), 01/20/2048 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;421667 |
| &nbsp;&nbsp;&nbsp;4.450%, 03/03/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;685906 |
| &nbsp;&nbsp;&nbsp;7.750%, 05/14/2038 | &nbsp;&nbsp;480000 | &nbsp;&nbsp;&nbsp;&nbsp;557968 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 01/12/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;483845 |
| &nbsp;&nbsp;&nbsp;7.437%, (7.437% to 11-2-32, then 1 Year CMT + 3.500%), 11/02/2033 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;733461 |
| Berkshire Hathaway Finance Corp.<br> 4.400%, 05/15/2042 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;547220 |
| Berkshire Hathaway, Inc.<br> 3.125%, 03/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;479132 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 02/05/2025 | 2000000 | &nbsp;&nbsp;&nbsp;1922882 |
| &nbsp;&nbsp;&nbsp;3.300%, 10/30/2024 | 1500000 | &nbsp;&nbsp;&nbsp;1447724 |
| Capital One NA<br> 3.375%, 02/15/2023 | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;359370 |
| Chubb INA Holdings, Inc.<br> 3.350%, 05/03/2026 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;287178 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.462%, (1.462% to 6-9-26, then SOFR + 0.770%), 06/09/2027 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;520445 |
| &nbsp;&nbsp;&nbsp;2.666%, (2.666% to 1-29-30, then SOFR + 1.146%), 01/29/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;820183 |
| &nbsp;&nbsp;&nbsp;3.300%, 04/27/2025 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;580957 |
| &nbsp;&nbsp;&nbsp;4.281%, (4.281% to 4-24-47, then 3 month LIBOR + 1.839%), 04/24/2048 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;409025 |
| &nbsp;&nbsp;&nbsp;4.450%, 09/29/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;476704 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Citigroup, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.658%, (4.658% to 5-24-27, then SOFR + 1.887%), 05/24/2028 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;967760 |
| &nbsp;&nbsp;&nbsp;5.500%, 09/13/2025 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;402448 |
| Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 03/26/2025 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;225010 |
| &nbsp;&nbsp;&nbsp;4.550%, 04/17/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;705578 |
| Deutsche Bank AG<br> 2.129%, (2.129% to 11-24-25, then SOFR + 1.870%), 11/24/2026 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;529325 |
| European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 10/15/2024 | 1500000 | 1447475 |
| &nbsp;&nbsp;&nbsp;3.250%, 01/29/2024 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;590095 |
| Fifth Third Bank NA<br> 2.250%, 02/01/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;450113 |
| Five Corners Funding Trust II<br> 2.850%, 05/15/2030 (B) | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;670610 |
| GE Capital International Funding Company<br> 4.418%, 11/15/2035 | &nbsp;&nbsp;822000 | &nbsp;&nbsp;&nbsp;&nbsp;757416 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;2.848%, (2.848% to 6-4-30, then SOFR + 2.387%), 06/04/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;798106 |
| &nbsp;&nbsp;&nbsp;4.583%, (4.583% to 6-19-28, then 3 month LIBOR + 1.535%), 06/19/2029 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;920626 |
| &nbsp;&nbsp;&nbsp;6.500%, 09/15/2037 | &nbsp;&nbsp;660000 | &nbsp;&nbsp;&nbsp;&nbsp;672936 |
| Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 07/23/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;924050 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2025 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;343552 |
| Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.100%, 09/15/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;370048 |
| &nbsp;&nbsp;&nbsp;4.600%, 03/15/2033 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;478072 |
| International Bank for Reconstruction & Development<br> 0.750%, 11/24/2027 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;849690 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.522%, (2.522% to 4-22-30, then SOFR + 2.040%), 04/22/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;818287 |
| &nbsp;&nbsp;&nbsp;3.300%, 04/01/2026 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;663554 |
| &nbsp;&nbsp;&nbsp;3.375%, 05/01/2023 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;497649 |
| &nbsp;&nbsp;&nbsp;3.509%, (3.509% to 1-23-28, then 3 month LIBOR + 0.945%), 01/23/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;453766 |
| &nbsp;&nbsp;&nbsp;3.540%, (3.540% to 5-1-27, then 3 month LIBOR + 1.380%), 05/01/2028 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;644151 |
| &nbsp;&nbsp;&nbsp;3.875%, 02/01/2024 | 1300000 | 1283102 |
| &nbsp;&nbsp;&nbsp;4.452%, (4.452% to 12-5-28, then 3 month LIBOR + 1.330%), 12/05/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;563614 |
| &nbsp;&nbsp;&nbsp;4.851%, (4.851% to 7-25-27, then SOFR + 1.990%), 07/25/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;974783 |
| &nbsp;&nbsp;&nbsp;6.400%, 05/15/2038 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;135025 |
| KfW |  |  |
| &nbsp;&nbsp;&nbsp;2.125%, 01/17/2023 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;599387 |
| &nbsp;&nbsp;&nbsp;2.625%, 02/28/2024 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;780306 |
| Liberty Mutual Group, Inc.<br> 3.950%, 05/15/2060 (B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;327467 |
| Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 12/12/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;468365 |
| &nbsp;&nbsp;&nbsp;7.000%, 06/15/2040 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;156342 |
| Lloyds Banking Group PLC<br> 2.438%, (2.438% to 2-5-25, then 1 Year CMT + 1.000%), 02/05/2026 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;837923 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 103 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| MetLife, Inc.<br> 4.600%, 05/13/2046 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;449249 |
| Mitsubishi UFJ Financial Group, Inc.<br> 1.538%, (1.538% to 7-20-26, then 1 Year CMT + 0.750%), 07/20/2027 | 1600000 | 1387103 |
| Mizuho Financial Group, Inc.<br> 1.234%, (1.234% to 5-22-26, then 1 Year CMT + 0.670%), 05/22/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;692921 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;1.512%, (1.512% to 7-20-26, then SOFR + 0.858%), 07/20/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;433894 |
| &nbsp;&nbsp;&nbsp;3.622%, (3.622% to 4-1-30, then SOFR + 3.120%), 04/01/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;873004 |
| &nbsp;&nbsp;&nbsp;3.700%, 10/23/2024 | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;927217 |
| &nbsp;&nbsp;&nbsp;3.772%, (3.772% to 1-24-28, then 3 month LIBOR + 1.140%), 01/24/2029 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;503665 |
| &nbsp;&nbsp;&nbsp;4.100%, 05/22/2023 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;747258 |
| &nbsp;&nbsp;&nbsp;6.296%, (6.296% to 10-18-27, then SOFR + 2.240%), 10/18/2028 | 1000000 | 1032305 |
| Nasdaq, Inc.<br> 1.650%, 01/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;382236 |
| National Rural Utilities Cooperative Finance Corp.<br> 4.023%, 11/01/2032 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;636080 |
| Nomura Holdings, Inc.<br> 3.103%, 01/16/2030 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;834043 |
| Raymond James Financial, Inc.<br> 4.950%, 07/15/2046 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;533414 |
| Royal Bank of Canada<br> 2.300%, 11/03/2031 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;643445 |
| State Street Corp.<br> 3.100%, 05/15/2023 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;248329 |
| Stifel Financial Corp.<br> 4.250%, 07/18/2024 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;489873 |
| Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.364%, 07/12/2027 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;832184 |
| &nbsp;&nbsp;&nbsp;3.784%, 03/09/2026 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;529025 |
| The Allstate Corp.<br> 3.280%, 12/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;474711 |
| The Bank of New York Mellon Corp.<br> 3.250%, 05/16/2027 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;752127 |
| The Charles Schwab Corp.<br> 3.200%, 01/25/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;279511 |
| The Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/07/2030 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;584163 |
| &nbsp;&nbsp;&nbsp;3.102%, (3.102% to 2-24-32, then SOFR + 1.410%), 02/24/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;811981 |
| &nbsp;&nbsp;&nbsp;3.500%, 01/23/2025 | &nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;724496 |
| &nbsp;&nbsp;&nbsp;3.625%, 01/22/2023 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;499580 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/25/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;481278 |
| &nbsp;&nbsp;&nbsp;4.482%, (4.482% to 8-23-27, then SOFR + 1.725%), 08/23/2028 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;958415 |
| The Hartford Financial Services Group, Inc.<br> 5.950%, 10/15/2036 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;169268 |
| The PNC Financial Services Group, Inc.<br> 3.450%, 04/23/2029 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;914067 |
| The Toronto-Dominion Bank<br> 2.000%, 09/10/2031 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;629909 |
| The Travelers Companies, Inc.<br> 4.050%, 03/07/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;241041 |
| Travelers Property Casualty Corp.<br> 7.750%, 04/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;54375 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.125%, 08/03/2027 | $&nbsp;&nbsp;700000 | $&nbsp;&nbsp;&nbsp;&nbsp;590095 |
| &nbsp;&nbsp;&nbsp;2.850%, 10/26/2024 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;674985 |
| U.S. Bancorp<br> 2.375%, 07/22/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;922741 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;2.572%, (2.572% to 2-11-30, then SOFR + 1.262%), 02/11/2031 | 2000000 | &nbsp;&nbsp;&nbsp;1656133 |
| &nbsp;&nbsp;&nbsp;3.000%, 10/23/2026 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;924216 |
| &nbsp;&nbsp;&nbsp;3.350%, (3.350% to 3-2-32, then SOFR + 1.500%), 03/02/2033 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;842398 |
| Westpac Banking Corp.<br> 1.150%, 06/03/2026 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;706349 |
|  |  | 67831597 |
| **Health care – 2.8%** |  |  |
| Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;2.950%, 03/15/2025 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;289694 |
| &nbsp;&nbsp;&nbsp;3.750%, 11/30/2026 | &nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp;275508 |
| AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.200%, 05/14/2026 to 11/21/2029 | 1716000 | &nbsp;&nbsp;&nbsp;1579403 |
| &nbsp;&nbsp;&nbsp;4.400%, 11/06/2042 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;225530 |
| Aetna, Inc.<br> 3.500%, 11/15/2024 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;194275 |
| Allergan Funding SCS<br> 4.750%, 03/15/2045 | &nbsp;&nbsp;321000 | &nbsp;&nbsp;&nbsp;&nbsp;246004 |
| Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2045 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;217833 |
| &nbsp;&nbsp;&nbsp;4.663%, 06/15/2051 | &nbsp;&nbsp;659000 | &nbsp;&nbsp;&nbsp;&nbsp;566996 |
| AstraZeneca PLC<br> 0.700%, 04/08/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;439561 |
| Baxalta, Inc.<br> 4.000%, 06/23/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;486960 |
| Bayer US Finance II LLC<br> 2.850%, 04/15/2025 (B) | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;280963 |
| Becton, Dickinson and Company<br> 4.685%, 12/15/2044 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;357510 |
| Biogen, Inc.<br> 3.250%, 02/15/2051 | &nbsp;&nbsp;561000 | &nbsp;&nbsp;&nbsp;&nbsp;375456 |
| Boston Scientific Corp.<br> 2.650%, 06/01/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;427094 |
| Bristol-Myers Squibb Company |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/01/2042 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;381645 |
| &nbsp;&nbsp;&nbsp;4.550%, 02/20/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;269745 |
| Cardinal Health, Inc.<br> 3.750%, 09/15/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;483784 |
| Centene Corp.<br> 4.250%, 12/15/2027 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;656504 |
| Cigna Corp.<br> 4.375%, 10/15/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;482217 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 07/20/2025 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;634288 |
| &nbsp;&nbsp;&nbsp;4.300%, 03/25/2028 | &nbsp;&nbsp;389000 | &nbsp;&nbsp;&nbsp;&nbsp;376257 |
| &nbsp;&nbsp;&nbsp;5.050%, 03/25/2048 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;448772 |
| CVS Pass-Through Trust<br> 8.353%, 07/10/2031 (B) | &nbsp;&nbsp;&nbsp;&nbsp;59916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65496 |
| DH Europe Finance II Sarl<br> 3.250%, 11/15/2039 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;239151 |
| Dignity Health<br> 4.500%, 11/01/2042 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;248313 |
| Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.101%, 03/01/2028 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;335413 |
| &nbsp;&nbsp;&nbsp;4.650%, 08/15/2044 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;133926 |
| &nbsp;&nbsp;&nbsp;6.100%, 10/15/2052 | &nbsp;&nbsp;333000 | &nbsp;&nbsp;&nbsp;&nbsp;355002 |
| Eli Lilly & Company<br> 2.250%, 05/15/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;313236 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 104 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Health care (continued)** |  |  |
| Evernorth Health, Inc.<br> 6.125%, 11/15/2041 | $&nbsp;&nbsp;330000 | $&nbsp;&nbsp;&nbsp;&nbsp;334521 |
| Gilead Sciences, Inc.<br> 3.650%, 03/01/2026 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;578440 |
| GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.625%, 05/15/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;488222 |
| &nbsp;&nbsp;&nbsp;6.375%, 05/15/2038 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;237554 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;481889 |
| &nbsp;&nbsp;&nbsp;5.500%, 06/15/2047 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;355248 |
| Humana, Inc.<br> 3.850%, 10/01/2024 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;342949 |
| Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;2.100%, 09/01/2040 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;344016 |
| &nbsp;&nbsp;&nbsp;5.850%, 07/15/2038 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;316476 |
| Laboratory Corp. of America Holdings<br> 2.950%, 12/01/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;430680 |
| Medtronic, Inc.<br> 4.375%, 03/15/2035 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;472592 |
| Merck & Company, Inc.<br> 2.750%, 02/10/2025 | &nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;814523 |
| Novartis Capital Corp.<br> 3.000%, 11/20/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;479292 |
| Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.750%, 06/03/2026 | &nbsp;&nbsp;713000 | &nbsp;&nbsp;&nbsp;&nbsp;672150 |
| &nbsp;&nbsp;&nbsp;4.400%, 05/15/2044 | &nbsp;&nbsp;264000 | &nbsp;&nbsp;&nbsp;&nbsp;244428 |
| Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.200%, 06/30/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;477258 |
| &nbsp;&nbsp;&nbsp;4.700%, 03/30/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;421543 |
| Regeneron Pharmaceuticals, Inc.<br> 2.800%, 09/15/2050 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;620209 |
| Stryker Corp.<br> 4.625%, 03/15/2046 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;308171 |
| Thermo Fisher Scientific, Inc.<br> 2.000%, 10/15/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;323948 |
| UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 05/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;416679 |
| &nbsp;&nbsp;&nbsp;2.900%, 05/15/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;270610 |
| &nbsp;&nbsp;&nbsp;4.375%, 03/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44675 |
| &nbsp;&nbsp;&nbsp;4.450%, 12/15/2048 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;266337 |
| &nbsp;&nbsp;&nbsp;5.350%, 02/15/2033 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;722181 |
| &nbsp;&nbsp;&nbsp;5.800%, 03/15/2036 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;316435 |
| Utah Acquisition Sub, Inc.<br> 3.950%, 06/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;467432 |
| Viatris, Inc.<br> 2.700%, 06/22/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;390917 |
| Zimmer Biomet Holdings, Inc.<br> 3.050%, 01/15/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;471438 |
| Zoetis, Inc.<br> 2.000%, 05/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;405767 |
|  |  | 23903116 |
| **Industrials – 2.2%** |  |  |
| 3M Company<br> 3.000%, 08/07/2025 | &nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;316248 |
| AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 01/30/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;390880 |
| &nbsp;&nbsp;&nbsp;4.450%, 04/03/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;381774 |
| Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.125%, 12/01/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;497218 |
| &nbsp;&nbsp;&nbsp;3.625%, 12/01/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;361814 |
| American Airlines 2016-2 Class AA Pass Through Trust<br> 3.200%, 06/15/2028 | &nbsp;&nbsp;215850 | &nbsp;&nbsp;&nbsp;&nbsp;188335 |
| Burlington Northern Santa Fe LLC<br> 4.400%, 03/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44674 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Canadian Pacific Railway Company<br> 4.450%, 03/15/2023 | $&nbsp;&nbsp;300000 | $&nbsp;&nbsp;&nbsp;&nbsp;299592 |
| Carrier Global Corp.<br> 3.577%, 04/05/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;356528 |
| Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 04/09/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;302544 |
| &nbsp;&nbsp;&nbsp;3.400%, 05/15/2024 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;490311 |
| CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.350%, 11/01/2025 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;403059 |
| &nbsp;&nbsp;&nbsp;3.800%, 04/15/2050 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;775494 |
| Deere & Company<br> 3.100%, 04/15/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;447766 |
| Delta Air Lines 2019-1 Class AA Pass Through Trust<br> 3.204%, 04/25/2024 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;193367 |
| Equifax, Inc.<br> 3.100%, 05/15/2030 | 1200000 | 1009615 |
| FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.875%, 08/01/2042 | &nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;319066 |
| &nbsp;&nbsp;&nbsp;4.400%, 01/15/2047 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;279113 |
| General Dynamics Corp.<br> 3.625%, 04/01/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;464667 |
| General Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 03/11/2044 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;429867 |
| &nbsp;&nbsp;&nbsp;6.750%, 03/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp;73096 |
| &nbsp;&nbsp;&nbsp;6.875%, 01/10/2039 | &nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;184770 |
| Honeywell International, Inc.<br> 1.950%, 06/01/2030 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;412586 |
| John Deere Capital Corp.<br> 2.050%, 01/09/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;474631 |
| Johnson Controls, Inc.<br> 5.700%, 03/01/2041 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;130295 |
| Kansas City Southern<br> 2.875%, 11/15/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;431812 |
| L3Harris Technologies, Inc.<br> 2.900%, 12/15/2029 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;255899 |
| Lockheed Martin Corp.<br> 3.800%, 03/01/2045 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;326669 |
| Norfolk Southern Corp.<br> 4.837%, 10/01/2041 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;220424 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 01/15/2028 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;276675 |
| &nbsp;&nbsp;&nbsp;4.400%, 05/01/2030 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;191918 |
| Precision Castparts Corp.<br> 3.250%, 06/15/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;481920 |
| Raytheon Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.625%, 11/16/2048 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;450535 |
| &nbsp;&nbsp;&nbsp;6.125%, 07/15/2038 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;239663 |
| Republic Services, Inc.<br> 2.375%, 03/15/2033 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;319001 |
| Southwest Airlines Company<br> 5.250%, 05/04/2025 | 1200000 | 1204461 |
| Stanley Black & Decker, Inc.<br> 2.750%, 11/15/2050 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;182321 |
| The Boeing Company |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 10/30/2025 | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;407003 |
| &nbsp;&nbsp;&nbsp;2.950%, 02/01/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;338769 |
| &nbsp;&nbsp;&nbsp;3.750%, 02/01/2050 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;274624 |
| &nbsp;&nbsp;&nbsp;5.805%, 05/01/2050 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;556306 |
| &nbsp;&nbsp;&nbsp;8.750%, 09/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;107914 |
| Thomson Reuters Corp.<br> 4.500%, 05/23/2043 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;192449 |
| Trane Technologies Global Holding Company, Ltd.<br> 4.300%, 02/21/2048 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;460875 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 105 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Industrials (continued)** |  |  |
| Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.250%, 08/15/2025 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;480533 |
| &nbsp;&nbsp;&nbsp;3.799%, 10/01/2051 to 04/06/2071 | 1113000 | &nbsp;&nbsp;&nbsp;&nbsp;838182 |
| United Airlines 2016-2 Class AA Pass Through Trust<br> 2.875%, 10/07/2028 | &nbsp;&nbsp;220707 | &nbsp;&nbsp;&nbsp;&nbsp;187658 |
| United Parcel Service, Inc.<br> 3.400%, 03/15/2029 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;371813 |
| Verisk Analytics, Inc.<br> 4.125%, 03/15/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;561679 |
| Waste Management, Inc.<br> 2.500%, 11/15/2050 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;186896 |
|  |  | 18773309 |
| **Information technology – 2.3%** |  |  |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.650%, 05/11/2030 | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;735070 |
| &nbsp;&nbsp;&nbsp;2.400%, 05/03/2023 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;793601 |
| &nbsp;&nbsp;&nbsp;2.450%, 08/04/2026 | 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;983025 |
| &nbsp;&nbsp;&nbsp;3.250%, 02/23/2026 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;480334 |
| Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.900%, 10/01/2025 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;459522 |
| &nbsp;&nbsp;&nbsp;5.100%, 10/01/2035 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;475573 |
| Automatic Data Processing, Inc.<br> 3.375%, 09/15/2025 | &nbsp;&nbsp;752000 | &nbsp;&nbsp;&nbsp;&nbsp;728299 |
| Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.600%, 02/15/2033 (B) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;750597 |
| &nbsp;&nbsp;&nbsp;3.137%, 11/15/2035 (B) | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;441160 |
| &nbsp;&nbsp;&nbsp;4.300%, 11/15/2032 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;616938 |
| Cisco Systems, Inc.<br> 5.900%, 02/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85749 |
| Dell International LLC<br> 5.300%, 10/01/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;586801 |
| Eaton Corp.<br> 3.103%, 09/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;465117 |
| Fiserv, Inc.<br> 2.250%, 06/01/2027 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;535491 |
| Global Payments, Inc.<br> 4.450%, 06/01/2028 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;372180 |
| Hewlett Packard Enterprise Company<br> 6.200%, 10/15/2035 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;412306 |
| IBM Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.450%, 02/19/2026 | 1115000 | &nbsp;&nbsp;&nbsp;1071219 |
| &nbsp;&nbsp;&nbsp;4.000%, 06/20/2042 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;173979 |
| &nbsp;&nbsp;&nbsp;5.600%, 11/30/2039 | &nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21305 |
| Intel Corp.<br> 2.000%, 08/12/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;395998 |
| Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.000%, 11/18/2031 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;280986 |
| &nbsp;&nbsp;&nbsp;2.950%, 11/21/2026 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;282860 |
| Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.525%, 06/01/2050 | 1538000 | &nbsp;&nbsp;&nbsp;1012079 |
| &nbsp;&nbsp;&nbsp;3.125%, 11/03/2025 | &nbsp;&nbsp;438000 | &nbsp;&nbsp;&nbsp;&nbsp;423117 |
| NVIDIA Corp.<br> 2.000%, 06/15/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;320370 |
| NXP BV<br> 3.400%, 05/01/2030 | &nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;449355 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.400%, 09/15/2023 | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;426359 |
| &nbsp;&nbsp;&nbsp;2.650%, 07/15/2026 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;284928 |
| &nbsp;&nbsp;&nbsp;2.875%, 03/25/2031 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;331651 |
| &nbsp;&nbsp;&nbsp;2.950%, 05/15/2025 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;521817 |
| &nbsp;&nbsp;&nbsp;4.000%, 11/15/2047 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;292358 |
| &nbsp;&nbsp;&nbsp;4.125%, 05/15/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;377086 |
| PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.300%, 06/01/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;492901 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Information technology (continued)** |  |  |
| PayPal Holdings, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.850%, 10/01/2029 | $1000000 | $&nbsp;&nbsp;&nbsp;&nbsp;871048 |
| Qualcomm, Inc.<br> 1.650%, 05/20/2032 | &nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;435939 |
| Roper Technologies, Inc.<br> 4.200%, 09/15/2028 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;482922 |
| Salesforce, Inc.<br> 2.700%, 07/15/2041 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;285490 |
| Texas Instruments, Inc.<br> 3.875%, 03/15/2039 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;176166 |
| Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.050%, 04/15/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;507000 |
| &nbsp;&nbsp;&nbsp;3.150%, 12/14/2025 | &nbsp;&nbsp;463000 | &nbsp;&nbsp;&nbsp;&nbsp;446365 |
| &nbsp;&nbsp;&nbsp;4.300%, 12/14/2045 | &nbsp;&nbsp;463000 | &nbsp;&nbsp;&nbsp;&nbsp;422654 |
| VMware, Inc.<br> 1.800%, 08/15/2028 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;326632 |
| Xerox Corp.<br> 6.750%, 12/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44682 |
|  |  | 20079029 |
| **Materials – 0.8%** |  |  |
| Air Products and Chemicals, Inc.<br> 1.850%, 05/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;444246 |
| Avery Dennison Corp.<br> 2.650%, 04/30/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;329355 |
| DuPont de Nemours, Inc.<br> 5.319%, 11/15/2038 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;384423 |
| Eastman Chemical Company<br> 4.650%, 10/15/2044 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;409477 |
| Freeport-McMoRan, Inc.<br> 3.875%, 03/15/2023 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;498655 |
| Glencore Funding LLC<br> 2.625%, 09/23/2031 (B) | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;398304 |
| Huntsman International LLC<br> 4.500%, 05/01/2029 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;449040 |
| International Paper Company<br> 5.000%, 09/15/2035 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;471356 |
| LYB International Finance II BV<br> 3.500%, 03/02/2027 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;370206 |
| Martin Marietta Materials, Inc.<br> 2.400%, 07/15/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;239577 |
| Newmont Corp.<br> 4.875%, 03/15/2042 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;245248 |
| Potash Corp. of Saskatchewan, Inc.<br> 5.625%, 12/01/2040 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;138823 |
| Rio Tinto Alcan, Inc.<br> 6.125%, 12/15/2033 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;107053 |
| Rio Tinto Finance USA PLC<br> 4.750%, 03/22/2042 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;251802 |
| Rio Tinto Finance USA, Ltd.<br> 5.200%, 11/02/2040 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;249188 |
| Teck Resources, Ltd.<br> 6.250%, 07/15/2041 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;264718 |
| The Dow Chemical Company |  |  |
| &nbsp;&nbsp;&nbsp;4.375%, 11/15/2042 | &nbsp;&nbsp;590000 | &nbsp;&nbsp;&nbsp;&nbsp;488533 |
| &nbsp;&nbsp;&nbsp;9.400%, 05/15/2039 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;171246 |
| The Sherwin-Williams Company<br> 3.450%, 06/01/2027 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;281381 |
| Vale Overseas, Ltd.<br> 6.875%, 11/10/2039 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;368805 |
| Vulcan Materials Company<br> 3.500%, 06/01/2030 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;264251 |
|  |  | &nbsp;&nbsp;&nbsp;6825687 |
| **Real estate – 0.9%** |  |  |
| Alexandria Real Estate Equities, Inc.<br> 1.875%, 02/01/2033 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;297420 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 106 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Real estate (continued)** |  |  |
| American Tower Corp.<br> 5.000%, 02/15/2024 | $&nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;498157 |
| AvalonBay Communities, Inc.<br> 2.050%, 01/15/2032 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;313902 |
| Boston Properties LP<br> 2.550%, 04/01/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;380126 |
| Brixmor Operating Partnership LP<br> 4.125%, 05/15/2029 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;625843 |
| Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 07/15/2031 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;241757 |
| &nbsp;&nbsp;&nbsp;3.700%, 06/15/2026 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;380334 |
| CubeSmart LP<br> 4.000%, 11/15/2025 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;192046 |
| Digital Realty Trust LP<br> 4.450%, 07/15/2028 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;189349 |
| Duke Realty LP<br> 3.250%, 06/30/2026 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;183128 |
| Equinix, Inc.<br> 2.150%, 07/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;318216 |
| Essex Portfolio LP<br> 3.000%, 01/15/2030 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;338268 |
| Extra Space Storage LP<br> 2.350%, 03/15/2032 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;378353 |
| GLP Capital LP<br> 5.300%, 01/15/2029 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;567804 |
| Healthpeak Properties, Inc.<br> 3.500%, 07/15/2029 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;355971 |
| Mid-America Apartments LP<br> 3.950%, 03/15/2029 | &nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;750873 |
| Service Properties Trust<br> 4.500%, 03/15/2025 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;172509 |
| Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 06/15/2027 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;465943 |
| &nbsp;&nbsp;&nbsp;3.500%, 09/01/2025 | &nbsp;&nbsp;441500 | &nbsp;&nbsp;&nbsp;&nbsp;422840 |
| Welltower, Inc.<br> 2.750%, 01/15/2031 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;400003 |
|  |  | 7472842 |
| **Utilities – 1.8%** |  |  |
| AEP Transmission Company LLC<br> 3.750%, 12/01/2047 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;309902 |
| Ameren Corp.<br> 3.500%, 01/15/2031 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;884413 |
| American Water Capital Corp.<br> 4.300%, 09/01/2045 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;296164 |
| Arizona Public Service Company<br> 3.350%, 05/15/2050 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;328085 |
| Baltimore Gas and Electric Company<br> 4.550%, 06/01/2052 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;618222 |
| Berkshire Hathaway Energy Company |  |  |
| &nbsp;&nbsp;&nbsp;4.500%, 02/01/2045 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;435347 |
| &nbsp;&nbsp;&nbsp;6.125%, 04/01/2036 | &nbsp;&nbsp;436000 | &nbsp;&nbsp;&nbsp;&nbsp;457508 |
| CenterPoint Energy, Inc.<br> 2.950%, 03/01/2030 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;601546 |
| Consolidated Edison Company of New York, Inc.<br> 3.950%, 04/01/2050 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;549020 |
| Constellation Energy Generation LLC<br> 6.250%, 10/01/2039 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;163201 |
| Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.375%, 04/01/2030 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;528730 |
| &nbsp;&nbsp;&nbsp;3.900%, 10/01/2025 | &nbsp;&nbsp;242000 | &nbsp;&nbsp;&nbsp;&nbsp;235675 |
| Duke Energy Carolinas LLC<br> 6.000%, 01/15/2038 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;209629 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.750%, 04/15/2024 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;491083 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Utilities (continued)** |  |  |
| Duke Energy Corp. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;4.800%, 12/15/2045 | $500000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440188 |
| &nbsp;&nbsp;&nbsp;5.000%, 08/15/2052 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532420 |
| Entergy Texas, Inc.<br> 1.750%, 03/15/2031 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545784 |
| Essential Utilities, Inc.<br> 4.276%, 05/01/2049 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402776 |
| Eversource Energy<br> 4.250%, 04/01/2029 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473293 |
| Exelon Corp.<br> 3.400%, 04/15/2026 | 542000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514621 |
| Florida Power & Light Company<br> 5.650%, 02/01/2037 | 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295205 |
| Georgia Power Company<br> 5.950%, 02/01/2039 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330990 |
| Indiana Michigan Power Company<br> 6.050%, 03/15/2037 | 187000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192751 |
| NextEra Energy Capital Holdings, Inc.<br> 2.250%, 06/01/2030 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575644 |
| NiSource, Inc.<br> 3.950%, 03/30/2048 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310269 |
| Oncor Electric Delivery Company LLC<br> 7.500%, 09/01/2038 | 188000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227085 |
| Pacific Gas & Electric Company |  |  |
| &nbsp;&nbsp;&nbsp;2.500%, 02/01/2031 | 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465532 |
| &nbsp;&nbsp;&nbsp;3.450%, 07/01/2025 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28400 |
| &nbsp;&nbsp;&nbsp;3.750%, 07/01/2028 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26610 |
| &nbsp;&nbsp;&nbsp;4.550%, 07/01/2030 | 227000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205752 |
| &nbsp;&nbsp;&nbsp;4.950%, 07/01/2050 | 827000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640793 |
| PacifiCorp<br> 6.000%, 01/15/2039 | 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348416 |
| Public Service Company of Colorado<br> 3.600%, 09/15/2042 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394624 |
| Public Service Electric & Gas Company<br> 3.000%, 05/15/2025 | 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239315 |
| San Diego Gas & Electric Company<br> 6.125%, 09/15/2037 | 202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203520 |
| Southern California Edison Company |  |  |
| &nbsp;&nbsp;&nbsp;2.250%, 06/01/2030 | 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576489 |
| &nbsp;&nbsp;&nbsp;5.350%, 07/15/2035 | 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125764 |
| Southern California Gas Company<br> 6.350%, 11/15/2052 | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546950 |
| The Southern Company<br> 3.250%, 07/01/2026 | 572000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537852 |
| Virginia Electric & Power Company<br> 8.875%, 11/15/2038 | 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248587 |
| Xcel Energy, Inc.<br> 3.300%, 06/01/2025 | 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383922 |
|  |  | &nbsp;&nbsp;&nbsp;15922077 |
| TOTAL CORPORATE BONDS (Cost $246,162,134) |  | $220737835 |
| **MUNICIPAL BONDS – 0.4%** |  |  |
| Bay Area Toll Authority (California)<br> 6.907%, 10/01/2050 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61064 |
| Illinois State Toll Highway Authority<br> 6.184%, 01/01/2034 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161031 |
| Maryland State Transportation Authority<br> 5.888%, 07/01/2043 | &nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63187 |
| Metropolitan Washington Airports Authority<br> 7.462%, 10/01/2046 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49144 |
| New Jersey Turnpike Authority<br> 7.102%, 01/01/2041 | &nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108523 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 107 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Total Bond Market Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **MUNICIPAL BONDS (continued)** |  |  |
| New York State Dormitory Authority<br> 5.628%, 03/15/2039 | &nbsp;&nbsp;340000 | $&nbsp;&nbsp;&nbsp;&nbsp;348720 |
| New York State Urban Development Corp.<br> 5.770%, 03/15/2039 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;308085 |
| State of California, GO |  |  |
| &nbsp;&nbsp;&nbsp;7.300%, 10/01/2039 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;485950 |
| &nbsp;&nbsp;&nbsp;7.500%, 04/01/2034 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;96645 |
| State of Illinois, GO |  |  |
| &nbsp;&nbsp;&nbsp;5.100%, 06/01/2033 | &nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;110370 |
| &nbsp;&nbsp;&nbsp;7.350%, 07/01/2035 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;273526 |
| State of Texas, GO<br> 5.517%, 04/01/2039 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;274610 |
| State of Utah, GO |  |  |
| &nbsp;&nbsp;&nbsp;3.539%, 07/01/2025 | &nbsp;&nbsp;286286 | &nbsp;&nbsp;&nbsp;&nbsp;280816 |
| &nbsp;&nbsp;&nbsp;4.554%, 07/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;94619 |
| State of Washington, GO<br> 5.481%, 08/01/2039 | &nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;271988 |
| Texas Transportation Commission State Highway Fund<br> 5.178%, 04/01/2030 | &nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp;315879 |
| University of California<br> 5.770%, 05/15/2043 | &nbsp;&nbsp;320000 | &nbsp;&nbsp;&nbsp;&nbsp;336730 |
| TOTAL MUNICIPAL BONDS (Cost $3,507,431) | TOTAL MUNICIPAL BONDS (Cost $3,507,431) | $3640887 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 2.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 2.1%** |  |
| **Commercial and residential – 1.9%** |  |  |
| Banc of America Commercial Mortgage Trust<br> Series 2015-UBS7, Class A4<br> 3.705%, 09/15/2048 | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;137618 |
| BANK<br> Series 2017-BNK6, Class A4<br> 3.254%, 07/15/2060 | 2000000 | 1849875 |
| BMO Mortgage Trust<br> Series 2022-C1, Class A5<br> 3.374%, 02/17/2055 (C) | 2000000 | 1735385 |
| CD Mortgage Trust<br> Series 2017-CD3, Class A4<br> 3.631%, 02/10/2050 | 1090000 | 1013606 |
| Commercial Mortgage Trust (Cantor<br> Fitzgerald/Deutsche Bank AG) |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-CR8, Class AM,<br> 3.765%, 06/10/2046 (B)(C) | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;623604 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR14, Class A3,<br> 3.955%, 02/10/2047 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;984606 |
| &nbsp;&nbsp;&nbsp;Series 2014-CR21, Class A3,<br> 3.528%, 12/10/2047 | &nbsp;&nbsp;614572 | &nbsp;&nbsp;&nbsp;&nbsp;591481 |
| &nbsp;&nbsp;&nbsp;Series 2015-CR27, Class A4,<br> 3.612%, 10/10/2048 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;950705 |
| GS Mortgage Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-GS4, Class A3,<br> 3.178%, 11/10/2049 | 2846635 | 2623445 |
| &nbsp;&nbsp;&nbsp;Series 2017-GS5, Class A3,<br> 3.409%, 03/10/2050 | 2750637 | 2540237 |
| JPMBB Commercial Mortgage Securities Trust<br> Series 2013-C14, Class A4<br> 4.133%, 08/15/2046 (C) | &nbsp;&nbsp;301517 | &nbsp;&nbsp;&nbsp;&nbsp;299313 |
| JPMorgan Chase Commercial Mortgage Securities Trust<br> Series 2013-C16, Class A4<br> 4.166%, 12/15/2046 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;492947 |
| Morgan Stanley Capital Trust<br> Series 2021-L5, Class A4<br> 2.728%, 05/15/2054 | 2000000 | 1663754 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE<br> OBLIGATIONS (continued)** |  |
| **Commercial and<br> residential (continued)** |  |  |
| Wells Fargo Commercial Mortgage Trust<br> Series 2015-C29, Class AS<br> 4.013%, 06/15/2048 (C) | &nbsp;&nbsp;500000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471967 |
|  |  | &nbsp;&nbsp;&nbsp;15978543 |
| **U.S. Government Agency – 0.2%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series K041, Class A2,<br> 3.171%, 10/25/2024 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678002 |
| &nbsp;&nbsp;&nbsp;Series K047, Class A2,<br> 3.329%, 05/25/2025 (C) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677954 |
| &nbsp;&nbsp;&nbsp;Series K050, Class A2,<br> 3.334%, 08/25/2025 (C) | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676709 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2032665 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,868,087) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,868,087) | $&nbsp;&nbsp;&nbsp;18011208 |
| **ASSET BACKED SECURITIES – 0.2%** | **ASSET BACKED SECURITIES – 0.2%** |  |
| SMB Private Education Loan Trust<br> Series 2021-E, Class A1A<br> 1.680%, 02/15/2051 (B) | 1452965 | &nbsp;&nbsp;&nbsp;&nbsp;1310888 |
| TOTAL ASSET BACKED SECURITIES (Cost $1,452,906) |  | $&nbsp;&nbsp;&nbsp;1310888 |
| **COMMON STOCKS – 0.0%** |  |  |
| **Energy – 0.0%** |  |  |
| Noble Corp. PLC (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7240 |
| TOTAL COMMON STOCKS (Cost $4,349) | TOTAL COMMON STOCKS (Cost $4,349) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7240 |
| **SHORT-TERM INVESTMENTS – 0.5%** | **SHORT-TERM INVESTMENTS – 0.5%** |  |
| **Short-term funds – 0.5%** |  |  |
| John Hancock Collateral Trust, 4.2988% (E)(F) | &nbsp;&nbsp;463576 | &nbsp;&nbsp;&nbsp;&nbsp;4633816 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,633,907) | TOTAL SHORT-TERM INVESTMENTS (Cost $4,633,907) | $&nbsp;&nbsp;&nbsp;&nbsp;4633816 |
| **Total Investments (Total Bond Market Trust)<br> (Cost $942,531,145) – 99.2%** | **Total Investments (Total Bond Market Trust)<br> (Cost $942,531,145) – 99.2%** | $**854601942** |
| **Other assets and liabilities, net – 0.8%** |  | &nbsp;&nbsp;&nbsp;**7002529** |
| **TOTAL NET ASSETS – 100.0%** |  | $**861604471** |

---

---

| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CMT | Constant Maturity Treasury |
| GO | General Obligation |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (D) | Non-income producing security. |
| (E) | The rate shown is the annualized seven-day yield as of 12-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 108 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.7%** | **U.S. GOVERNMENT AND AGENCY OBLIGATIONS –<br> 0.7%** |  |
| **U.S. Government Agency – 0.7%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.815%, (6 month LIBOR + 1.565%), 12/01/2036 (A) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20675 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20619 |
| &nbsp;&nbsp;&nbsp;2.924%, (12 month LIBOR + 1.588%), 05/01/2037 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53409 |
| &nbsp;&nbsp;&nbsp;3.341%, (1 Year CMT + 2.231%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93298 |
| &nbsp;&nbsp;&nbsp;3.443%, (12 month LIBOR + 1.600%), 02/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39613 |
| &nbsp;&nbsp;&nbsp;3.448%, (1 Year CMT + 2.079%), 12/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90424 |
| &nbsp;&nbsp;&nbsp;3.465%, (1 Year CMT + 2.165%), 11/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62320 |
| &nbsp;&nbsp;&nbsp;3.539%, (12 month LIBOR + 1.639%), 09/01/2043 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198241 |
| &nbsp;&nbsp;&nbsp;3.697%, (12 month LIBOR + 1.447%), 06/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15038 |
| &nbsp;&nbsp;&nbsp;4.165%, (6 month LIBOR + 1.515%), 12/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28327 |
| &nbsp;&nbsp;&nbsp;4.295%, (1 Year CMT + 2.295%), 08/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59556 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;3.088%, (12 month LIBOR + 1.295%), 10/01/2038 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28058 |
| &nbsp;&nbsp;&nbsp;3.156%, (1 Year CMT + 2.195%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104087 |
| &nbsp;&nbsp;&nbsp;3.348%, (12 month LIBOR + 1.561%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123754 |
| &nbsp;&nbsp;&nbsp;3.458%, (1 Year CMT + 2.170%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95068 |
| &nbsp;&nbsp;&nbsp;3.553%, (12 month LIBOR + 1.448%), 04/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216725 |
| &nbsp;&nbsp;&nbsp;3.728%, (1 Year CMT + 2.269%), 07/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77254 |
| &nbsp;&nbsp;&nbsp;3.915%, (1 Year CMT + 2.195%), 05/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138568 |
| &nbsp;&nbsp;&nbsp;3.936%, (1 Year CMT + 2.148%), 01/01/2036 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31411 |
| &nbsp;&nbsp;&nbsp;4.101%, (1 Year CMT + 2.333%), 05/01/2034 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43446 |
| &nbsp;&nbsp;&nbsp;4.334%, (6 month LIBOR + 1.515%), 02/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47409 |
| &nbsp;&nbsp;&nbsp;4.417%, (6 month LIBOR + 1.489%), 10/01/2035 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94918 |
| Government National Mortgage Association<br> 2.625%, (1 Year CMT + 1.500%), 08/20/2032 (A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754363 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $1,826,622) | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $1,826,622) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754363 |
| **CORPORATE BONDS – 54.0%** | **CORPORATE BONDS – 54.0%** |  |
| **Communication services – 1.6%** |  |  |
| AT&T, Inc.<br> 0.900%, 03/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372200 |
| Comcast Corp.<br> 3.700%, 04/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969514 |
| Warnermedia Holdings, Inc.<br> 3.638%, 03/15/2025 (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398233 |
| **Consumer discretionary – 10.1%** |  |  |
| Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.450%, 05/12/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196156 |

---

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Consumer discretionary (continued)** |  |  |
| Amazon.com, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.730%, 04/13/2024 | $2000000 | $&nbsp;&nbsp;&nbsp;1948515 |
| American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.650%, 09/08/2023 | 2000000 | &nbsp;&nbsp;&nbsp;1942731 |
| &nbsp;&nbsp;&nbsp;3.550%, 01/12/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1972549 |
| Booking Holdings, Inc.<br> 3.650%, 03/15/2025 | 2000000 | &nbsp;&nbsp;&nbsp;1949134 |
| eBay, Inc.<br> 2.750%, 01/30/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2995054 |
| General Motors Financial Company, Inc.<br> 5.100%, 01/17/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1992095 |
| Hyundai Capital America<br> 0.800%, 01/08/2024 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2853931 |
| Nissan Motor Acceptance Company LLC<br> 3.875%, 09/21/2023 (B) | 1500000 | &nbsp;&nbsp;&nbsp;1472499 |
| Toyota Motor Credit Corp.<br> 3.350%, 01/08/2024 | 3360000 | &nbsp;&nbsp;&nbsp;3315524 |
| Volkswagen Group of America Finance LLC<br> 3.125%, 05/12/2023 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2976033 |
|  |  | 27614221 |
| **Consumer staples – 0.5%** |  |  |
| Walmart, Inc.<br> 2.850%, 07/08/2024 | 1370000 | &nbsp;&nbsp;&nbsp;1332594 |
| **Energy – 3.9%** |  |  |
| Aker BP ASA<br> 3.000%, 01/15/2025 (B) | 1415000 | &nbsp;&nbsp;&nbsp;1341692 |
| Energy Transfer LP<br> 4.500%, 11/01/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2978059 |
| Enterprise Products Operating LLC<br> 3.900%, 02/15/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1969273 |
| MPLX LP<br> 4.875%, 06/01/2025 | 1500000 | &nbsp;&nbsp;&nbsp;1477008 |
| The Williams Companies, Inc.<br> 4.500%, 11/15/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2977868 |
|  |  | 10743900 |
| **Financials – 26.1%** |  |  |
| Ally Financial, Inc.<br> 3.875%, 05/21/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1946800 |
| American Express Company<br> 3.400%, 02/22/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2946852 |
| Athene Global Funding<br> 0.950%, 01/08/2024 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2854433 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.523%, (0.523% to 6-14-23, then SOFR + 0.410%), 06/14/2024 | 2855000 | &nbsp;&nbsp;&nbsp;2787081 |
| &nbsp;&nbsp;&nbsp;4.000%, 04/01/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1974785 |
| Bank of Montreal<br> 2.150%, 03/08/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2902386 |
| Barclays PLC<br> 3.932%, (3.932% to 5-7-24, then 3 month LIBOR + 1.610%), 05/07/2025 | 2000000 | &nbsp;&nbsp;&nbsp;1939475 |
| Brighthouse Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;0.600%, 06/28/2023 (B) | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;975299 |
| &nbsp;&nbsp;&nbsp;4.412%, (SOFR + 0.760%), 04/12/2024 (A)(B) | 2000000 | &nbsp;&nbsp;&nbsp;1980559 |
| Capital One Financial Corp.<br> 3.750%, 04/24/2024 | 3176000 | &nbsp;&nbsp;&nbsp;3115890 |
| Citigroup, Inc.<br> 3.352%, (3.352% to 4-24-24, then 3 month LIBOR + 0.897%), 04/24/2025 | 3000000 | &nbsp;&nbsp;&nbsp;2909035 |
| Citizens Bank NA<br> 6.064%, (6.064% to 10-24-24, then SOFR + 1.450%), 10/24/2025 | 1333000 | &nbsp;&nbsp;&nbsp;1348007 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 109 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Financials (continued)** |  |  |
| Credit Agricole SA<br> 3.750%, 04/24/2023 (B) | $2000000 | $&nbsp;&nbsp;&nbsp;1991190 |
| Fifth Third Bancorp<br> 3.650%, 01/25/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2954634 |
| Five Corners Funding Trust<br> 4.419%, 11/15/2023 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2974159 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.514%, (1.514% to 6-1-23, then SOFR + 1.455%), 06/01/2024 | 5000000 | &nbsp;&nbsp;&nbsp;4918503 |
| &nbsp;&nbsp;&nbsp;5.546%, (5.546% to 12-15-24, then SOFR + 1.070%), 12/15/2025 | 1750000 | &nbsp;&nbsp;&nbsp;1750031 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;3.737%, (3.737% to 4-24-23, then 3 month LIBOR + 0.847%), 04/24/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2983782 |
| &nbsp;&nbsp;&nbsp;3.875%, 04/29/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1968931 |
| Royal Bank of Canada<br> 5.660%, 10/25/2024 | 2000000 | &nbsp;&nbsp;&nbsp;2022895 |
| Santander Holdings USA, Inc.<br> 3.244%, 10/05/2026 | 3000000 | &nbsp;&nbsp;&nbsp;2784198 |
| The Bank of New York Mellon Corp.<br> 3.450%, 08/11/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2973308 |
| The Bank of Nova Scotia<br> 1.950%, 02/01/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2992988 |
| The Goldman Sachs Group, Inc.<br> 1.217%, 12/06/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2895941 |
| The Toronto-Dominion Bank<br> 0.450%, 09/11/2023 | 2000000 | &nbsp;&nbsp;&nbsp;1938804 |
| UBS Group AG<br> 1.008%, (1.008% to 7-30-23, then 1 Year CMT + 0.830%), 07/30/2024 (B) | 3000000 | &nbsp;&nbsp;&nbsp;2917039 |
| Wells Fargo & Company |  |  |
| &nbsp;&nbsp;&nbsp;3.300%, 09/09/2024 | 2765000 | &nbsp;&nbsp;&nbsp;2683336 |
| &nbsp;&nbsp;&nbsp;3.750%, 01/24/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2959236 |
|  |  | 71389577 |
| **Health care – 2.2%** |  |  |
| AbbVie, Inc.<br> 2.850%, 05/14/2023 | 1001000 | &nbsp;&nbsp;&nbsp;&nbsp;993754 |
| Boston Scientific Corp.<br> 1.900%, 06/01/2025 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;933384 |
| Cigna Corp.<br> 0.613%, 03/15/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2846632 |
| UnitedHealth Group, Inc.<br> 3.500%, 02/15/2024 | 1360000 | &nbsp;&nbsp;&nbsp;1338056 |
|  |  | &nbsp;&nbsp;&nbsp;6111826 |
| **Industrials – 1.4%** |  |  |
| AerCap Ireland Capital DAC<br> 3.150%, 02/15/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1933315 |
| The Boeing Company<br> 1.433%, 02/04/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1916614 |
|  |  | &nbsp;&nbsp;&nbsp;3849929 |
| **Information technology – 4.3%** |  |  |
| Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.750%, 05/11/2023 | 2000000 | &nbsp;&nbsp;&nbsp;1971189 |
| &nbsp;&nbsp;&nbsp;2.850%, 05/11/2024 | 2000000 | &nbsp;&nbsp;&nbsp;1947157 |
| NXP BV<br> 4.875%, 03/01/2024 | 3000000 | &nbsp;&nbsp;&nbsp;2977036 |
| Oracle Corp.<br> 2.625%, 02/15/2023 | 3000000 | &nbsp;&nbsp;&nbsp;2990640 |
| VMware, Inc.<br> 0.600%, 08/15/2023 | 2000000 | &nbsp;&nbsp;&nbsp;1947749 |
|  |  | 11833771 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |  |
| **Materials – 2.1%** |  |  |
| Georgia-Pacific LLC<br> 0.625%, 05/15/2024 (B) | 3000000 | $&nbsp;&nbsp;&nbsp;&nbsp;2817892 |
| Graphic Packaging International LLC<br> 0.821%, 04/15/2024 (B) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2807634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5625526 |
| **Utilities – 1.8%** |  |  |
| Alexander Funding Trust<br> 1.841%, 11/15/2023 (B) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2873855 |
| Eversource Energy<br> 2.800%, 05/01/2023 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1989821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4863676 |
| TOTAL CORPORATE BONDS (Cost $151,752,168) |  | $147763253 |
| **MUNICIPAL BONDS – 0.7%** |  |  |
| Port Authority of New York & New Jersey<br> 1.086%, 07/01/2023 | 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1964481 |
| TOTAL MUNICIPAL BONDS (Cost $2,000,000) | TOTAL MUNICIPAL BONDS (Cost $2,000,000) | $&nbsp;&nbsp;&nbsp;&nbsp;1964481 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS – 0.4%** |  |
| **Commercial and residential – 0.2%** |  |  |
| BX Commercial Mortgage Trust<br> Series 2022-AHP, Class A (1 month CME Term SOFR + 0.990%)<br> 5.326%, 01/17/2039 (A)(B) | &nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390455 |
| COLT Mortgage Loan Trust<br> Series 2020-3, Class A1<br> 1.506%, 04/27/2065 (B)(C) | &nbsp;&nbsp;179975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558631 |
| **U.S. Government Agency – 0.2%** |  |  |
| Federal National Mortgage Association<br> Series 2013-10, Class FT (1 month LIBOR + 0.350%)<br> 4.739%, 04/25/2042 (A) | &nbsp;&nbsp;502599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491090 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,090,544) | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,090,544) | $&nbsp;&nbsp;&nbsp;&nbsp;1049721 |
| **ASSET BACKED SECURITIES – 16.9%** | **ASSET BACKED SECURITIES – 16.9%** |  |
| Ally Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-3, Class A3<br> 1.930%, 05/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;30788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30751 |
| &nbsp;&nbsp;&nbsp;Series 2019-4, Class A3<br> 1.840%, 06/17/2024 | &nbsp;&nbsp;134312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134135 |
| American Tower Trust<br> Series 2013, Class 2A<br> 3.070%, 03/15/2048 (B) | 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2486003 |
| AmeriCredit Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-3, Class D<br> 4.040%, 11/18/2024 | 2650000 | &nbsp;&nbsp;&nbsp;&nbsp;2630812 |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class C<br> 1.590%, 10/20/2025 | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2902910 |
| Avis Budget Rental Car Funding AESOP LLC<br> Series 2019-3A, Class A<br> 2.360%, 03/20/2026 (B) | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2792126 |
| BA Credit Card Trust<br> Series 2021-A1, Class A1<br> 0.440%, 09/15/2026 | 3753000 | &nbsp;&nbsp;&nbsp;&nbsp;3537621 |
| CarMax Auto Owner Trust<br> Series 2019-2, Class A4<br> 2.770%, 12/16/2024 | 1851081 | &nbsp;&nbsp;&nbsp;&nbsp;1839268 |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 110 |

---

------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)

---

| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-N4, Class A1<br> 0.830%, 09/11/2028 | $&nbsp;&nbsp;614964 | $&nbsp;&nbsp;&nbsp;&nbsp;594565 |
| &nbsp;&nbsp;&nbsp;Series 2022-P1, Class A2<br> 2.570%, 05/12/2025 | 1317003 | 1304612 |
| &nbsp;&nbsp;&nbsp;Series 2022-P3, Class A3<br> 4.610%, 11/10/2027 | 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;974515 |
| CCG Receivables Trust<br> Series 2021-1, Class A2<br> 0.300%, 06/14/2027 (B) | 1079756 | 1044666 |
| Chesapeake Funding II LLC<br> Series 2020-1A, Class A1<br> 0.870%, 08/15/2032 (B) | &nbsp;&nbsp;225114 | &nbsp;&nbsp;&nbsp;&nbsp;221981 |
| CNH Equipment Trust<br> Series 2020-A, Class A3<br> 1.160%, 06/16/2025 | &nbsp;&nbsp;701849 | &nbsp;&nbsp;&nbsp;&nbsp;692165 |
| Dell Equipment Finance Trust<br> Series 2021-2, Class A2<br> 0.330%, 12/22/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;59554 | &nbsp;&nbsp;&nbsp;&nbsp;58841 |
| Enterprise Fleet Funding LLC<br> Series 2021-1, Class A2<br> 0.440%, 12/21/2026 (B) | &nbsp;&nbsp;725383 | &nbsp;&nbsp;&nbsp;&nbsp;702815 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2018-2, Class D<br> 4.230%, 09/16/2024 (B) | &nbsp;&nbsp;705315 | &nbsp;&nbsp;&nbsp;&nbsp;703584 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A<br> 0.310%, 06/16/2025 (B) | &nbsp;&nbsp;131819 | &nbsp;&nbsp;&nbsp;&nbsp;131146 |
| GM Financial Consumer Automobile<br> Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-1, Class A4<br> 1.900%, 03/17/2025 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;486400 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A3<br> 0.350%, 10/16/2025 | 1387867 | 1342671 |
| GreatAmerica Leasing Receivables<br> Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-2, Class A2<br> 0.380%, 03/15/2024 (B) | &nbsp;&nbsp;858783 | &nbsp;&nbsp;&nbsp;&nbsp;844065 |
| &nbsp;&nbsp;&nbsp;Series 2022-1, Class A3<br> 5.080%, 09/15/2026 (B) | 1500000 | 1494938 |
| Honda Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-3, Class A3<br> 0.370%, 10/18/2024 | 1253949 | 1226551 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class A3<br> 0.270%, 04/21/2025 | &nbsp;&nbsp;764354 | &nbsp;&nbsp;&nbsp;&nbsp;739364 |
| HPEFS Equipment Trust<br> Series 2022-1A, Class A2<br> 1.020%, 05/21/2029 (B) | 2325870 | 2287174 |
| Hyundai Auto Lease Securitization Trust<br> Series 2021-B, Class A3<br> 0.330%, 06/17/2024 (B) | 3000000 | 2954230 |
| Mercedes-Benz Auto Receivables Trust<br> Series 2021-1, Class A2<br> 0.210%, 07/15/2024 | &nbsp;&nbsp;441029 | &nbsp;&nbsp;&nbsp;&nbsp;438505 |
| MMAF Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-A, Class A4<br> 2.930%, 03/10/2026 (B) | &nbsp;&nbsp;349147 | &nbsp;&nbsp;&nbsp;&nbsp;345794 |
| &nbsp;&nbsp;&nbsp;Series 2019-B, Class A3<br> 2.010%, 12/12/2024 (B) | &nbsp;&nbsp;&nbsp;&nbsp;61312 | &nbsp;&nbsp;&nbsp;&nbsp;60173 |
| Santander Consumer Auto Receivables Trust<br> Series 2021-AA, Class A3<br> 0.330%, 10/15/2025 (B) | 1331283 | 1307842 |
| Santander Drive Auto Receivables Trust<br> Series 2021-3, Class C<br> 0.950%, 09/15/2027 | 1693000 | 1628402 |

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| | | |
|:---|:---|:---|
|  | **Shares or<br> Principal<br> Amount** | **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |  |
| Santander Retail Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-B, Class A3<br> 0.570%, 04/22/2024 (B) | &nbsp;&nbsp;1657016 | $&nbsp;&nbsp;&nbsp;&nbsp;1625905 |
| &nbsp;&nbsp;&nbsp;Series 2022-B, Class A2<br> 2.840%, 05/20/2025 (B) | &nbsp;&nbsp;1384355 | &nbsp;&nbsp;&nbsp;&nbsp;1362726 |
| SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-2A, Class A2<br> 2.470%, 04/20/2026 (B) | &nbsp;&nbsp;&nbsp;&nbsp;521096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513294 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A3<br> 0.830%, 08/21/2028 (B) | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950787 |
| Tesla Auto Lease Trust<br> Series 2020-A, Class A3<br> 0.680%, 12/20/2023 (B) | &nbsp;&nbsp;&nbsp;&nbsp;22638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22540 |
| T-Mobile US Trust<br> Series 2022-1A, Class A<br> 4.910%, 05/22/2028 (B) | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1497506 |
| Verizon Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2019-C, Class C<br> 2.160%, 04/22/2024 | &nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293923 |
| &nbsp;&nbsp;&nbsp;Series 2020-A, Class B<br> 1.980%, 07/22/2024 | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123808 |
| &nbsp;&nbsp;&nbsp;Series 2020-B, Class A<br> 0.470%, 02/20/2025 | &nbsp;&nbsp;1685149 | &nbsp;&nbsp;&nbsp;&nbsp;1659765 |
| &nbsp;&nbsp;&nbsp;Series 2020-C, Class A<br> 0.410%, 04/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;178518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175573 |
| Westlake Automobile Receivables Trust<br> Series 2021-3A, Class A2<br> 0.570%, 09/16/2024 (B) | &nbsp;&nbsp;&nbsp;&nbsp;195714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194298 |
| TOTAL ASSET BACKED SECURITIES (Cost $47,454,516) |  | $&nbsp;&nbsp;46358750 |
| **SHORT-TERM INVESTMENTS – 27.1%** | **SHORT-TERM INVESTMENTS – 27.1%** |  |
| **U.S. Government – 26.7%** |  |  |
| U.S. Treasury Bill |  |  |
| &nbsp;&nbsp;&nbsp;3.307%, 01/05/2023 \* | 17970000 | &nbsp;&nbsp;&nbsp;17966371 |
| &nbsp;&nbsp;&nbsp;3.933%, 01/26/2023 \* | 17615000 | &nbsp;&nbsp;&nbsp;17571329 |
| &nbsp;&nbsp;&nbsp;4.040%, 02/23/2023 \* | &nbsp;&nbsp;5048000 | &nbsp;&nbsp;&nbsp;&nbsp;5017620 |
| &nbsp;&nbsp;&nbsp;4.155%, 03/07/2023 \* | 19277000 | &nbsp;&nbsp;&nbsp;19134811 |
| &nbsp;&nbsp;&nbsp;4.172%, 02/23/2023 \* | 13630000 | &nbsp;&nbsp;&nbsp;13547972 |
|  |  | &nbsp;&nbsp;&nbsp;73238103 |
| **Short-term funds – 0.4%** |  |  |
| John Hancock Collateral Trust, 4.2988% (D)(E) | &nbsp;&nbsp;&nbsp;&nbsp;104712 | &nbsp;&nbsp;&nbsp;&nbsp;1046684 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $74,273,639) | TOTAL SHORT-TERM INVESTMENTS (Cost $74,273,639) | $&nbsp;&nbsp;&nbsp;74284787 |
| **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $278,397,489) – 99.8%** | **Total Investments (Ultra Short Term Bond Trust)<br> (Cost $278,397,489) – 99.8%** | $**273175355** |
| **Other assets and liabilities, net – 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;**660835** |
| **TOTAL NET ASSETS – 100.0%** |  | $**273836190** |

---

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| | |
|:---|:---|
| <u>Security Abbreviations and Legend</u> | <u>Security Abbreviations and Legend</u> |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $56,053,799 or 20.5% of the fund's net assets as of 12-31-22. |
| (C) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |

---

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 111 |

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------

## John Hancock Variable Insurance Trust

#### Portfolio of Investments — December 31, 2022 (showing percentage of total net assets)

------

#### Ultra Short Term Bond Trust (continued)
(D) The rate shown is the annualized seven-day yield as of 12-31-22.

(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.

\* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

---

| | |
|:---|:---|
| **The accompanying notes are an integral part of the financial statements.** | 112 |

---

------

![](g2r5b3qyuobsgeqja0h45.jpg)

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of John Hancock Variable Insurance Trust and Shareholders of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the summary portfolios of investments, of Active Bond Trust, Core Bond Trust, High Yield Trust, Investment Quality Bond Trust, Money Market Trust, Opportunistic Fixed Income Trust, Select Bond Trust, Short Term Government Income Trust, Strategic Income Opportunities Trust, Total Bond Market Trust and Ultra Short Term Bond Trust (eleven of the funds constituting John Hancock Variable Insurance Trust, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (included in Item 1 of this Form N-CSR) and the portfolios of investments (included in Item 6 of this Form N-CSR) as of December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant

PricewaterhouseCoopers LLP, 101 Seaport Boulevard, Suite 500, Boston, MA 02210

T: (617) 530 5000, F: (617) 530 5001, www.pwc.com/us

![](gr3c3lsm0w22lclca1vxq.jpg)

estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

Boston, Massachusetts

February 21, 2023

We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.

2 of 2

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable

ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASES.

Not Applicable

ITEM 10. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS.

The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating, Governance and Administration Committee Charter".

ITEM 11. CONTROLS AND PROCEDURES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. EXHIBITS.

[(a)(1) Code of Ethics for Covered Officers is attached.](f12659d2.htm)

[(a)(2) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.](f12659d3.htm)

[(b)Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a- 2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.](f12659d4.htm)

[(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached "John Hancock Funds – Nominating and Governance Committee Charter".](f12659d5.htm)

SIGNATURES

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

JOHN HANCOCK VARIABLE INSURANCE TRUST

/s/ Andrew Arnott

<u>____________________</u>

Andrew Arnott

President

Date: February 21, 2023

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

/s/ Andrew Arnott

<u>____________________</u>

Andrew Arnott

President

Date: February 21, 2023

/s/ Charles A. Rizzo

<u>____________________</u>

Charles A. Rizzo

Chief Financial Officer

Date: February 21, 2023

------

## Ex-99.(A)(1)

![](g3zkiu92iwb0bm1j9oloa.jpg)

**JOHN HANCOCK VARIABLE INSURANCE TRUST**

**JOHN HANCOCK FUNDS**

**JOHN HANCOCK FUNDS II**

**JOHN HANCOCK EXCHANGE-TRADED FUND TRUST**

**<u><u>S</u>ARBANES<u>-O</u>XLEY <u>C</u>ODE OF <u>E</u>THICS</u>**

**<u>FOR</u>**

**<u><u>P</u>RINCIPAL <u>E</u>XECUTIVE<u>, P</u>RINCIPAL <u>F</u>INANCIAL <u>O</u>FFICER <u>& T</u>REASURER</u>**

**I.Covered Officers/Purpose of the Code**

This code of ethics (this "Code") for John Hancock Variable Insurance Trust, John Hancock Funds[<sup>1</sup>](#page_1), and John Hancock Funds II, John Hancock Exchange-Traded Fund Trust and, each a registered management investment company under the Investment Company Act of 1940, as amended ("1940 Act"), which may issue shares in separate and distinct series (each investment company and series thereunder to be hereinafter referred to as a "Fund"), applies to each Fund's Principal Executive Officer ("President"), Principal Financial Officer ("Chief Financial Officer") and Treasurer ("Treasurer") (the "Covered Officers" as set forth in <u>Exhibit A</u>) for the purpose of promoting:

****honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

****full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public communications made by the Fund;

****compliance with applicable laws and governmental rules and regulations;

****the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

****accountability for adherence to the Code.

1John Hancock Funds includes the following trusts: John Hancock Financial Opportunities Fund; John Hancock Bond Trust; John Hancock California Tax-Free Income Fund; John Hancock Capital Series; John Hancock Funds III; John

Hancock Income Securities Trust; John Hancock Investment Trust; John Hancock Investment Trust II; John Hancock Investors Trust; John Hancock Municipal Securities Trust; John Hancock Premium Dividend Fund ; John Hancock Preferred Income Fund; John Hancock Preferred Income Fund II; John Hancock Preferred Income Fund III; John Hancock Sovereign Bond Fund; John Hancock Strategic Series; John Hancock Tax-Advantaged Dividend Income Fund; John Hancock Tax-Advantaged Global Shareholder Yield Fund; John Hancock Hedged Equity and Income Fund; and John Hancock Collateral Trust.

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Each of the Covered Officers should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest Overview**

A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund. Certain conflicts of interest arise out of the relationships between the Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act") and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. Each of the Covered Officers is an officer or employee of the investment adviser or a service provider ("Service Provider") to the Fund. The Fund's, the investment adviser's and the Service Provider's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the investment adviser and the Service Provider of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund, for the investment adviser or for the Service Provider), be involved in establishing policies and implementing decisions which will have different effects on the investment adviser, the Service Provider and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the investment adviser and the Service Provider and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. Thus, if such participation is performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, it will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board of Trustees/Directors (the "Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by other Codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but the Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

\*\*\*

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Each Covered Officer must:

****not use his/her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

****not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than for the benefit of the Fund; and

****not use material non-public knowledge of portfolio transactions made or contemplated for the Fund to trade personally or cause others to trade personally in contemplation of the market effect of such transactions.

Additionally, conflicts of interest may arise in other situations, the propriety of which may be discussed, if material, with the Fund's Chief Compliance Officer ("CCO"). Examples of these include:

****serve as a director/trustee on the board of any public or private company;

****the receipt of any non-nominal gifts;

****the receipt of any entertainment from any company with which the Fund has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety (or other formulation as the Fund already uses in another code of conduct);

****any ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than its investment adviser, any sub-adviser, principal underwriter, administrator or any affiliated person thereof; and

****a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III.Disclosure & Compliance**

****Each Covered Officer should familiarize himself or herself with the disclosure requirements generally applicable to the Fund;

****Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's directors and auditors, and to governmental regulators and self- regulatory organizations;

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****Each Covered Officer should, to the extent appropriate within his/her area of responsibility, consult with other officers and employees of the Fund and the Fund's adviser or any sub-adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

****It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

IV. Reporting & Accountability

Each Covered Officer must:

****upon adoption of the Code (or thereafter as applicable, upon becoming an Covered Officer), affirm in writing to the Fund's CCO that he/she has received, read, and understands the Code;

****annually thereafter affirm to the Fund's CCO that he/she has complied with the requirements of the Code;

****not retaliate against any employee or Covered Officer or their affiliated persons for reports of potential violations that are made in good faith;

****notify the Fund's CCO promptly if he/she knows of any violation of this Code (Note: failure to do so is itself a violation of this Code); and

****report at least annually any change in his/her affiliations from the prior year.

The Fund's CCO is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any approvals or waivers sought by the Principal Executive Officer will be considered by the Fund's Board or the Compliance Committee thereof (the "Committee").

The Fund will follow these procedures in investigating and enforcing this Code:

****the Fund's CCO will take all appropriate action to investigate any potential violations reported to him/her;

****if, after such investigation, the CCO believes that no violation has occurred, the CCO is not required to take any further action;

****any matter that the CCO believes is a violation will be reported to the Board or, if applicable, Compliance Committee;

****if the Board or, if applicable, Compliance Committee concurs that a violation has occurred, the Board, either upon its determination of a violation or upon

4 of 6

recommendation of the Compliance Committee, if applicable, will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Service Provider or the investment adviser or its board; or a recommendation to dismiss the Registrant's Executive Officer;

****the Board, or if applicable the Compliance Committee, will be responsible for granting waivers, as appropriate; and

****any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V.Other Policies & Procedures**

This Code shall be the sole code of ethics adopted by the Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Fund, the Fund's adviser, any sub- adviser, principal underwriter or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Fund's and its investment adviser's codes of ethics under Rule 204A-1 under the Investment Advisers Act and Rule 17j-1 under the Investment Company Act, respectively, are separate requirements applying to the Covered Officers and others and are not part of this Code.

VI. Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Fund's Board, including a majority of independent directors.

VII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Fund's Board and its counsel, the investment adviser and the relevant Service Providers.

VIII. Internal Use

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

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**<u>Exhibit A</u>**

**Persons Covered by this Code of Ethics**

**(As of December 31, 2022)**

**John Hancock Variable Insurance Trust**

****Principal Executive Officer and President – Andrew Arnott

****Principal Financial Officer and Chief Financial Officer – Charles Rizzo

****Treasurer – Salvatore Schiavone

**John Hancock Funds**

****Principal Executive Officer and President – Andrew Arnott

****Principal Financial Officer and Chief Financial Officer – Charles Rizzo

****Treasurer – Salvatore Schiavone

**John Hancock Funds II**

****Principal Executive Officer and President – Andrew Arnott

****Principal Financial Officer and Chief Financial Officer – Charles Rizzo

****Treasurer – Salvatore Schiavone

**John Hancock Exchange-Traded Trust**

****Principal Executive Officer and President – Andrew Arnott

****Principal Financial Officer and Chief Financial Officer – Charles Rizzo

****Treasurer – Salvatore Schiavone

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## Ex-99.(A)(2)

I, **Andrew Arnott**, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this report on Form N-CSR of John Hancock Variable Insurance Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 21, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Andrew Arnott |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>_____________________</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andrew Arnott |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President |

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I, **Charles A. Rizzo**, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this report on Form N-CSR of John Hancock Variable Insurance Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial conditions, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: February 21, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Charles A. Rizzo |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>_____________________</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles A. Rizzo |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer |

---

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## Ex-99.(B)

**Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of**

**the Sarbanes-Oxley Act of 2002\***

In connection with the attached Report of John Hancock Variable Insurance Trust (the "registrant") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the registrant does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant as of, and for, the periods presented in the Report.

/s/ Andrew Arnott

--------------------------------

Andrew Arnott President

Dated: February 21, 2023

/s/ Charles A. Rizzo

-------------------------------

Charles A. Rizzo Chief Financial Officer

Dated: February 21, 2023

A signed original of this written statement, required by Section 906, has been provided to the registrant and will be retained by the registrant and furnished to the Securities and Exchange Commission or its staff upon request.

\*These certifications are being furnished solely pursuant to 18 U.S.C. Section 1350 and are not being filed as part of this Form N-CSR or as a separate disclosure document.

## Ex-99.(C)(1)

![](gzp2w50fvpd5q1ga0eqwo.jpg)

**JOHN HANCOCK FUNDS[<sup>1</sup>](#page_1)**

**<u>NOMINATING AND GOVERNANCE COMMITTEE CHARTER</u>**

**Overall Role and Responsibility**

The Nominating and Governance Committee (the "Committee") of each of the Trusts shall (1) make determinations and recommendations to the Board of Trustees (the "Board") regarding issues related to (a) the composition of the Board and (b) corporate governance matters applicable to the Trustees who are not "interested persons" as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), of any of the Trusts, or of any Fund's investment adviser, subadviser or principal underwriter and who are "independent" as defined in the rules of the New York Stock Exchange ("NYSE") (the "Independent Trustees") and (2) discharge such additional duties, responsibilities and functions as are delegated to it from time to time.

**Membership**

The Nominating and Governance Committee (the "Committee") shall be composed of all of the Independent Trustees of the Board. One member of the Committee shall be appointed by the Board as Chair of the Committee. The chair shall be responsible for leadership of the Committee, including scheduling meetings or reviewing and approving the schedule for them, preparing agendas or reviewing and approving them before meetings, presiding over meetings of the Committee and making reports to the full Board, as appropriate.

**Structure, Operations and Governance**

<u>Meetings and Actions by Written Consent</u>. The Committee shall meet as often as required or as the Committee deems appropriate, with or without management present. Meetings may be called and notice given by the Committee chair or a majority of the members of the Committee. Members may attend meetings in person or by telephone. The Committee may act by written consent to the extent permitted by law and the Funds' governing documents. The Committee shall report to the Board on any significant action it takes not later than the next following Board meeting.

<u>Required Vote and Quorum</u>. The affirmative vote of a majority of the members of the Committee participating in any meeting of the Committee at which a quorum is present is necessary for the adoption of any resolution. At least a majority of the Committee members present at the meeting in person or by telephone shall constitute a quorum for the transaction of business.

1"John Hancock Funds" includes each trust and series as may be amended from time to time (each individually, a "Trust," and collectively, the "Trusts," and each series thereof, a "Portfolio" or "Fund," and collectively, the "Portfolios" or "Funds").

<u>Delegation to Subcommittees</u>. The Committee may delegate any portion of its authority to a subcommittee of one or more members.

<u>Appropriate Resources and Authority</u>. The Committee shall have the resources and authority appropriate to discharge its responsibilities, including the authority to retain special counsel and other advisers, experts or consultants, at the Funds' expense, as it determines necessary or appropriate to carry out its duties and responsibilities. In addition, the Committee shall have direct access to such officers of and service providers to the Funds as it deems desirable.

<u>Review of Charter</u>. The Committee Charter shall be approved by at least a majority of the Independent Trustees of the Trust. The Committee shall review and assess the adequacy of this Charter periodically and, where necessary or as it deems desirable, will recommend changes to the Board for its approval. The Board may amend this Charter at any time in response to recommendations from the Committee or on its own motion.

<u>Executive Sessions</u>. The Committee may meet privately and may invite non-members to attend such meetings. The Committee may meet with representatives of the Investment Management Services department of the Funds' advisers, internal legal counsel of the Funds' advisers, members of the John Hancock Funds Risk & Investment Operations Committee (the "RIO Committee") and with representatives of the Funds' service providers, including the subadvisers, to discuss matters that relate to the areas for which the Committee has responsibility.

**Specific Duties and Responsibilities**

The Committee shall have the following duties and powers, to be exercised at such times and in such manner as the Committee shall determine:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Except where a Trust is legally required to nominate individuals recommended by another, to identify individuals qualified to serve as Independent Trustees of the Trusts, and to consider and recommend to the full Board nominations of individuals to serve as Trustees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.To consider, as it deems necessary or appropriate, the criteria for persons to fill existing or newly created Trustee vacancies. The Committee shall use the criteria and principles set forth in Annex A to guide its Trustee selection process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.To consider and recommend changes to the Board regarding the size, structure, and composition of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.To evaluate, from time to time, and determine changes to the retirement policies for the Independent Trustees, as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.To periodically review the Board's committee structure and, in collaboration with the Chairs of the various Committees, the charters of the Board's committees, and

recommend to the Board of Trustees changes to the committee structure and charters as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.To retain and terminate any firm(s) to be used to identify or evaluate or assist in identifying or evaluating potential Independent Board nominees, subject to the Board's sole authority to approve the firm's fees and other retention terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.To consider and determine the amount of compensation to be paid by the Trusts to the Independent Trustees, including the compensation of the Chair of the Board or any Vice-Chair of the Board and of Committee Chairs, and to address compensation-related matters. The Chair of the Board has been granted the authority to approve special compensation to Independent Trustees in recognition of any significant amount of additional time and service to the Trusts provided by them, subject to ratification of any such special compensation by the Committee at the next regular meeting of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.To coordinate and administer an annual self-evaluation of the Board, which will include, at a minimum, a review of its effectiveness in overseeing the number of Funds in the Fund complex and the effectiveness of its committee structure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.To review the Board Governance Procedures and recommend to the Board of Trustees changes to the Procedures as the Committee deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.To report its activities to the full Board and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate.

**Additional Responsibilities**

The Committee will also perform other tasks assigned to it from time to time by the Chair of the Board or by the Board, and will report findings and recommendations to the Board, as appropriate.

Last revised: December 12, 2018

<u>ANNEX A</u>

The Committee may take into account a wide variety of factors in considering Trustee candidates, including (but not limited to) the criteria set forth below. The Committee may determine that a candidate who does not satisfy these criteria in one or more respects should nevertheless be considered as a nominee if the Committee finds that the criteria satisfied by the candidate and the candidate's other qualifications demonstrate the appropriate level of fitness to serve.

**General Criteria**

1. Nominees should have a reputation for integrity, honesty and adherence to high ethical standards, and such other personal characteristics as a capacity for leadership and the ability to work well with others.

2. Nominees should have business, professional, academic, financial, accounting or other experience and qualifications which demonstrate that they will make a valuable contribution as Trustees.

3. Nominees should have a commitment to understand the Funds, and the responsibilities of a trustee/director of an investment company and to regularly attend and participate in meetings of the Board and its committees.

4. Nominees should have the ability to understand the sometimes conflicting interests of the various constituencies of the Funds, including shareholders and the investment adviser, and to act in the interests of all shareholders.

5. Nominees should not have, nor appear to have, a conflict of interest that would impair their ability to represent the interests of all the shareholders and to fulfill the responsibilities of a trustee.

6. Nominees should have experience on corporate or other institutional bodies having oversight responsibilities.

It is the intent of the Committee that at least one Independent Trustee be an "audit committee financial expert" as that term is defined in Item 3 of Form N-CSR.

Application of Criteria to Current Trustees

The re-nomination of current Trustees should not be viewed as automatic, but should be based on continuing qualification under the criteria set forth above based on, among other things, the current Trustee's contribution to the Board and any committee on which he or she serves.

**Review of Nominations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.The Committee believes that it is in the best interests of each Trust and its shareholders to obtain highly-qualified candidates to serve as members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.In nominating candidates who would be Independent Trustees, the Committee believes that no particular qualities or skills nor any specific minimum qualifications or disqualifications are controlling or paramount. The Committee shall take into consideration any such factors as it deems appropriate; however, the appropriate mix of skills, expertise and attributes needed to maintain an effective board are sought in the applicant pool as part of every search the Board undertakes for new trustees, including but not limited to the diversity of thought, as well as of gender, race, ethnic background and geographic origin. These factors may also include (but are not limited to) the person's character, integrity, judgment, skill and experience with investment companies and other organizations of comparable purpose, complexity and size and subject to similar legal restrictions and oversight; the interplay of the candidate's experience with the experience of other Board members; and the extent to which the candidate would be a desirable addition to the Board and any Committees thereof. Other factors that the Committee may take into consideration include a person's availability and commitment to attend meetings and perform his or her responsibilities; whether or not the person has or had any relationships that might impair or appear to impair his or her independence, such as any business, financial or family relationships with Fund management, the investment adviser and/or any subadviser of the Funds, as applicable, Fund service providers, or their affiliates or with Fund shareholders. The Committee will strive to achieve a group that reflects a diversity of experiences in respect of industries, professions and other experiences, and that is diversified as to thought, gender, race, ethnic background and geographic origin.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.While the Committee is solely responsible for the selection and recommendation to the Board of Independent Trustee candidates, the Committee may consider nominees recommended by any source, including shareholders, management, legal counsel and Board members, as it deems appropriate. The Committee may retain a professional search firm or a consultant to assist the Committee in a search for a qualified candidate. Any recommendations from shareholders shall be directed to the Secretary of the relevant Trust at such address as is set forth in the Trust's disclosure documents. Recommendations from management may be submitted to the Committee Chair. All recommendations shall include all information relating to such person that is required to be disclosed in solicitations of proxies for the election of Board members and as specified

in the relevant Trust's By-Laws, and must be accompanied by a written consent of the proposed candidate to stand for election if nominated for the Board and to serve if elected by shareholders.

4. Any shareholder nomination must be submitted in compliance with all of the pertinent provisions of Rule 14a-8 under the Securities Exchange Act of 1934 in order to be considered by the Committee. In evaluating a nominee recommended by a shareholder, the Committee, in addition to the criteria discussed above, may consider the objectives of the shareholder in submitting that nomination and whether such objectives are consistent with the interests of all shareholders. If the Board determines to include a shareholder's candidate among the slate of its designated nominees, the candidate's name will be placed on the Trust's proxy card. If the Board determines not to include such candidate among its designated nominees, and the shareholder has satisfied the requirements of Rule 14a-8, the shareholder's candidate will be treated as a nominee of the shareholder who originally nominated the candidate. In that case, the candidate will not be named on the proxy card distributed with the Trust's proxy statement.

5. As long as a current Independent Trustee continues, in the opinion of the Committee, to satisfy the criteria listed above, the Committee generally would favor the re-nomination of a current Trustee rather than a new candidate. Consequently, while the Committee will consider nominees recommended by shareholders to serve as trustees, the Committee may only act upon such recommendations if there is a vacancy on the Board, or the Committee determines that the selection of a new or additional Trustee is in the best interests of the relevant Trust. In the event that a vacancy arises or a change in Board membership is determined to be advisable, the Committee will, in addition to any shareholder recommendations, consider candidates identified by other means as discussed in this Annex A.

6. With respect to candidates for Independent Trustee, a biography of each candidate shall be acquired and shall be reviewed by counsel to the Independent Trustees and counsel to the Trust to determine the candidate's eligibility to serve as an Independent Trustee.

7. The Committee may from time to time establish specific requirements and/or additional factors to be considered for Independent Trustee candidates as it deems necessary or appropriate.

8. After its consideration of relevant factors, the Committee shall present its recommendation(s) to the full Board for its consideration.